Drop also very fast. I am holding. Just prepare for the volatility for this stock.

@shares321, there’s no actual announcement of the company future directions nor announcement made. It’s another round of sell down.

So far no announcement made from GOB.

@shares321, tomorrow last day dy. limit up also won’t hit RM1. Lol. Why you so confident in the first place.

@shares321 my EP is very high now staying in penthouse and refuse to cut loss. That’s why.

Thanks shares321, share price go up and down but the problem here is GOB go down way faster than it goes up. Doesn’t give investors confident nor trying to support the price at certain level.

@shares321 end of the month already. Stock price keep dropping. RM1 is a joke.

Other Chew con bites from market sources and ex staff

1. The QSR Group contract is a another conjob where Mpay has to fund pay 100% of the rollout of the terminals and POS in KFC while QSR pays nothing. In return Mpay collects a minuscule % point of the transactions. What Chew con does here is that he pays millions of Mpay monies to procure such devices at inflated prices from crony companies. On top of that the millions Chew spend using Mpay monies paying his crony contractors on Mpay e-wallet and Mpay card adoption is long dead with low usage.

2. Mpay so call big deal with Hatten Group is roasted as Hatten itself is in trouble requiring debt and capital restructuring.

3. All of Chew other deals on merchant acquisition are along the same lines ie pay out huge sums at inflated prices to cream off for paltry returns.

4. Mpay recently wrote off RM 2.5 mil in receivables last quarter so basically 30% of last year so called high growth revenue was essentially a cheat growth story. Another of Chew delayed con story.

5. Chew and cronies controls own 60% of Trustgate whilst balance 40% is owned by Mpay but Mpay extends RM 3 mil facility to it ie to fund Chew’s private venture. When Trustgate makes monies Chew takes most of it while Mpay is just a milking cow for him to fund his private venture.

6. Mpay is paying a huge RM 500k to Kenanga to raise RM 18m in the just announced placement exercise or a whopping 2.7% placement fee when market rate is just 1-1.25% ie double the market placement fee rate. This smells like a small 1MDB in the making in desperate times to pay for some traders to churn the stock, spin the story and conned more investors in for Chew to suck out. If the placement takers were already identified or shares placed out already there is no need for such high placement fees. Hello reality check.

7. Time is not on Chew con side where Mpay cash are depleted nada by September and proceeds from placement slow in coming. In any case once the placement shares a gluten 142 m in total starts coming out at 13 sens there will be huge selling supply other than a fast deteriorating company balance sheet.

8. The only reason why its still trading at this level is to suck in more suckers and day dreaming traders selling the story of 50 sens coming.

9. At 15 sens the company market cap after shares placement is around RM 130 mil with guarantee of more losses to come , 0% chance of digital bank license and a CEO with 100% track record of raising monies to burn with no return other than for himself. This stock is worth only 5 sen for its shell minus the loss making operations .

10. No doubt traders will keep spinning the story of 50 sens target, spinning chinese or bank investors or alibaba stories. Expect high churning activities to keep the shares elevated in the days to come before new issue shareholders dump on you.

11. Massive con job spinning trading story yes but value investing most definitely not.

12. Stock churning is handled by broker 73, 86 and 51. All related parties brokers churning to suck you in die standing in Chew con game.

Chew Mpay pedigree and digital bank license potential... Biggest conjob story ever!

1. Pays himself and his wife, family members on board over RM 1 mil a year for doing a lousy job whilst the Co just lost RM 5 mil 1st quarter 2020
2. Collects rents from the company ie sucking public money into private pocket
3. Burned RM 65 mil cash in the company last 5 years without any result to show. Cash in the co now is less than RM 6 mil. Not exactly a pedigree mgmt hallmark of a potential digital bank winner.
4. Company never made money since listing and has accumulated losses of over RM 35 mil. Current book orders is a paltry RM 1.37 mil only.. shocking but true!
5. Last private placement at 23 sen with banker Datuk Vyonne Chia all lost monies and still sitting on 50% losses. Even the banker pro got conned! You think she won’t warned her mates at Bank Negara haha
6. Application for digital banking licence together with this Passion Venture is an unknown C Grade investment advisory firm based in Singapore... no history or success story whatsoever ie another intentional play scam to attract speculative buying interest in
7. Last 2 weeks build up is merely market exercise to attract a higher price for the proposed dilutive private placement
8. The co will run out of cash by Sep without a successful placement exercise. The placement takers have yet to be identified thus indicating poor response.
9. Bank Negara will be strict on digital banking license ie only proven management and strong capital backed... both of which Mpay is not.
10. Digital bank license front runners are Grab, Axiata, Green Packet, Cimb. Mpay digital bank play sounds like fairy tales and another of Chew’s scheme to conned new investors in. So far everybody who has invested in this stock lost monies except Chew because he sucks investors monies in to cream out privately. Be warned!

#isupertrader = irrational and delusional. To project PER of 2X in 2021 when the co has been consistently losing monies from the day it was listed with no sign of a profit turnaround even in the last reported quarter or shown either in receivables or book orders building up is akin to plucking gold from thin air. I don’t even want to comment on your ridiculous analogy comparing amazon to mpay. For your information the only thing you got correct is that all pass shareholders like me have been conned by Chew and co. previously and we do not wish the same for anyone new here.

Prophesy and Prediction come true! How to in 4 years:

1) Lose 80% in stock value from 23 sen to current 4.5 sen;
2) Lose over RM 40 mil in operations through shady deals;
3) Deplete cash holding from RM 60 m to less than RM 10 mil now;
4) Enrich themselves by over RM 3-4 m each year personally;

Thanks to Chew family and board of directors of Mpay. They should all be investigated by SC and MACC and put in jail.

As warned back in Nov 2019 the bad results just out proven correct Ie continued losses with no turnaround in sight ,Chew family burning company cash like their own it from over RM 60 m 4 years ago to less than RM 10 mil now, no mark increase in receivables or order books. The future is clear the co will go bust seek PN 17 or do a massive rights issue but whatever it is the shares will continue to tank at minority shareholders expense!

Quarterly peanut profit of 261k con job to suck more investors in. Whole year 2019 still bleeding and what’s more worrying is the cash burn by Chew family has depleted Mpay cash reserves from RM 33 mil to just RM 12 mil now and a paltry RM 1.4 m in current book orders. Expect a rights issue or cash call which will tank the stock further... No sustainable operational turnaround expected.

Fundamentally Mpay will continue losing monies as Datuk Chew treats it like his personal piggy bank and Technically this stock is very weak underperforming even other similar stocks with more sellers coming out than buyers coming in... price will make new lows and break 10 sens next few months.

At 11.5 sen the market cap of Mpay is still a whopping RM 81m with cash going botak end of this year and heavy losses bleeding. NTA will drop to 5 sen in 2020 and thats where the price is heading if chew continues his nonsense in Mpay and strategic shareholders like Datuk Vyonne Chia and others continues their selling.

Read the latest Annual Accounts 2018 its all there including even Datuk Vyonne Chia has been selling her direct stake... more selling to come if the CEO remains!

How can the CEO make RM 1m a year when the co is losing RM 8m, burning RM 3m every quarter and stock price has dropped 60%. The family can still collects RM 250k rents from the listed co in addition to pumping over RM 600k of public money into Trustgate privately owned by him and cronies. This is unethical unprofessional and the CEO treats Mpay like his own piggy bank at other shareholders expense. Impressive! GOTCHA!