Ctrip is facing the same situation! It has inflated revenue/earnings for several years! Ctrip balance sheet has a huge hole. Ctrip's cash, investments are all fictitous numbers!!!! Watch out! PricewaterhouseCoopers...
Ctrip International did the same thing as Satyam. They borrowed money from other companies or related companies. After the confirmation letter is sent. Money is returned!!!
Ctrip's accounts receivable, investment are all inflated!!!!
Afterthoughts on Satyam Computer Services [View article]
Ctrip not only inflated cash, investments, it also inflated long -term assets, too!!!!
Avoiding Satyam Like the Plague [View article]
How Did Satyam Get Away with It? [View article]
How Did Satyam Get Away with It? [View article]
Ctrip's accounts receivable, investment are all inflated!!!!