It was a disaster waiting to happen.... we didn't know when the price would collapse but it was only a matter of time. I highlighted my concerns in another blog post just 2 months ago.
ISR Capital - Like Moths to an Open Flame, this will likely end up in tears again
ISR Capital has been halted from trading today, 24 November 2016. The stock is down a massive 55% in one day and SGX has raised a 4th query in 6 months to the company.
ISR Capital will be halted from trading until 28 November 2016 pending a response owing to SGX on a valuation report issued by Al Maynard & Associates Pty Ltd.
Full credit to the SGX for proactively engaging the company with relevant queries to address potential areas of concern.
Also credit to the Edge Singapore for reporting on ISR Capital many months ago when the deal was first structured.
The Edge Singapore and its sister publication, The Edge Malaysia, are excellent publications that any serious investor should be reading regularly. The articles are reported in a unbiased and informative manner. Journalism and reporting of the highest quality and standard!
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