KC, your comment makes sense. Understood that there's no malice intended.

1. My source is still CIMB and their counterparts. They are buying in, selling out when the price is declining, rebound, declining again to pocketed some margin. Hence I condemn them as bloody when all their reports said Trading Buy and even issued a notes to investors to public 2 weeks ago that JCY is healthy after their understanding from the company, and investors should buy from weaknesses.

2. Regarding dividends, share buy back, and comparison with Bonia, I have no comments because I do not know what is their intention.

4. Then unexpected event, sudden flood has hit Bangkok and supply chain of HDD destroyed. JCY suddenly enter into a exponential growth rate.

5. Our story starts here. Founders and IB understand the situation and start their plotting.

6. When the share prices are up, it is more convincing to issue various warrants due to high demand of these warrants.

7. CIMB, OSK, AM and founders come with the plan. Founders lend them shares with eventually JCY being privatised at 0.60.

8. During the exponential period, all the research reports written favour the company to anesthetise the common s/holders to absorb their holdings.

9. The more volatile the market, the more easier for them to make money.

10. This will eventually make the call warrants issued in their favour. Even for the put warrants, according to their termsheet, clause No.3, Market disruption event, the settlement clause will change.

Conclusion :

1. Who ever who bought call / put warrants will not in their favour.

2. Who ever who analysed using fundamentals will not in their favour.

3. It is in the favour of IB / founder. Look at the big volumes when it dropped from 1.40 to 0.90, it's scary.

Andy118,

Your point is correct and it further triggers my worries.

It is very obvious that privatisation plan is on-going after the Thailand flood,

Sequence of events :-

1. JCY listed via " offer for sales" where JCY's parent YKY Investment owned by Mr YK Yong. 25% of shares are sold and Mr YK Yong pocketed all the money, even not a single cent flows into company for development.

Reason for listings : Founder has foreseen bottleneck of JCY and hence intended to realise their value for the past profit and market condition is good, they claimed themselves one of the biggest HDD maker in Asia. With their great promoter, CIMB, equity analyst report favours JCY with high target price set. PLEASE BEWARE THAT BY SELLING 25%, FOUNDER 75% IS A "FREE" SHARES TO HIM.

2. They slashed their listing size and finally listed. At RM1.60 and selling just 470 million shares, JCY will raise only RM750mil, compared to its target of raising up to RM1.2bil to make the sale the largest tech IPO in South-East Asia since 2000.

3. With 2 quarters of poor earning, JCY quickly dropped to the level and trade at the level of 0.70 - 1.20 for a period longer than 12 months.

And remember boost confidence with company monies ( Your Money, My Money). I sincerely condemn their action.

afar,

Share buy back is via shareholders fund, i.e. shareholders money. Your money and my money.

They can knock off the available shares with buyback shares holding in their books. Hence founding s/h will spend less when their offer a complete privatisation at 0.60 in 6 months time.

It is also a measure to boost confidence among common investors, where someone is willing to absorb their shares selling above 0.60 for their own agenda.

Fat Cat, you have interest on JCY? Better becareful. It has become target of IB because of various types of warrants issued. It's not a company that can be analysed by fundamentals.

I would say the fair value for 6 months at least lies between 1.40 - 1.80.

One must think what cause it trade at 0.89 to 0.95 if is unbelievable.

I can't understand what my source said initially, now when things develop, I have to listen to them.

Indeed it is oversold. But CIMB and Ambank are going to push the price down further. This is latest updates from my source. They have a big plan earlier on. They issued so many CA and now exercise date is approaching. One thing to think, why they have so many shares to sell? Founding shareholders are lending them shares to create win win situation :-

1. IB & founding shareholders make some profit from ups & downs

Ultimately,

1. IB avoids loss on warrants

2. Founding shareholders intend to privatise the company at 0.60.

Let us discuss again 2 weeks later, no point arguing now. Good luck guys.

I have warned you guys 2 weeks ago, unexpectedly, it is worsen than I expected.

Friends, still remember me?