Muhyiddin is the stuppid and dunggu ex-deputy Malaysia ever had. He said he dont know anything about 1MDB and only learn about 1MDB from tko or theedge news. And later after that once PAC said najib not involve suddently he know everything and said he already warn najib on 1MDB issues. what a loser. The stupid ex-deputy malaysia ever had. lucky najib cop him before he become malaysia PM. Bodoh punya orang. You become the chairmen of Majlis tertinggi once najib in oversea and chair 1MDB meeting on rationalisation but yet you said you know nothing about it. What a loser.

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ARMADA is so hot now.

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waaaaaa baru bangun tito la. oit still there arr...no move up. aiyoo...hehehe

waaa possible shoot up but cannot makan ini. its not shariah compliance.

berat sangat. susah mau push. heheh.

heheh jom tidor. Zzzzzz Zzzzzz

tidor kejap. heheheh

hahaha

boring nyer suma

What Malaysian Central Bank warned govt of 1MDB risk ? Malaysia Central Bank Even do nothing when 2.6 Billion reported being transfer into Najib Account ? How come such a highest Malaysian Central Bank do nothing about it without any quarries of why that much money being transferred ? After a while they make whoo haaa about and not sangkut when people start queries why they do nothing back then ? So much of Malaysian Central Bank whoo haaa konon sudah warned govt. Malaysian Central Bank Cannot be trusted and incompetence when they just do nothing when such a huge money coming in to the country.

YoungDragon i still want the price of suma to go up la. Dont worry. Now this is the opportunity to kasi tendang keluar weak holder. :-) .

now we are waiting for the crush of shale company especially the big one in the USA as oil operator and investor will start selling their share and even bank will avoid bail this USA shale company. The crush will cause shortage of supply and will help stabilize the oil price and perhaps will make oil shooting up.

hahahah

hahahah

hahha woiii sell faster la. sell as much as you can.

Ayo yo yo YoungDragon why us my name la. hahaha. 0.18 is too cheap. hahahah.

wow terbaik la. please sell as much as you can. heheheh

they collect in 3 stages already. now only tinggal to push it up.

buy la and hold

they makan already from 0.135,0.130 and 0.125 to push later of above 0.14. :-) .

musashi69 im still holding solid my Hibiscus at 0.211.

0.18 jer heheh

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5058929

OTHERS HIBISCUS PETROLEUM BERHAD ("Hibiscus Petroleum" or "the Company") Further developments following the Company's clarification and related announcements of 14, 24 and 30 December 2015, 21 and 26 January 2016, 4, 10 and 12 February 2016, 4 and 31 March 2016, and 4 April 2016

Reference is made to the Company’s clarification and related announcements on 14, 24 and 30 December 2015, 21 and 26 January 2016, 4, 10 and 12 February 2016, 4 and 31 March 2016, and 4 April 2016 (“Earlier Announcements”). Terms defined in the Earlier Announcements have the same meaning when used in this announcement.



The Company has just been informed that an application for the winding up of Lime Plc has been filed by Rex, Schroder and/or Lime Plc (acting under the direction of the Subject Directors) at the High Court of Justice of the Isle of Man, on the grounds of Lime Plc’s purported insolvency and on just and equitable grounds due to a supposed deadlock and breakdown of relations between the shareholders of Lime Plc. The possibility of a winding up application being filed has been previously highlighted by the Company in its announcement dated 4 February 2016.



In the supporting affidavit of Mr Karl Helge Tore Lidgren (one of the Subject Directors against whom a claim is pending pursuant to the ongoing derivative action leave application), it is noteworthy that reference to the potential derivative action is made by Mr Lidgren to the effect that a preference for another person (namely, the choice of liquidators nominated by Rex, Schroder and the Subject Directors) other than GHL to take over conduct of the potential derivative action on behalf of Lime Plc, has been expressed.



In the light of the following (among others):



(a) GHL’s previously expressed commitment to fund its 35% share of all proper and reasonably incurred necessary expenses of Lime Plc for the next 6 months;



(b) in response, the apparent withdrawal of funding commitments by Rex and Schroder thereby seeking to ensure that a purported insolvency position on the part of Lime Plc arises; and



(c) the recent alarming admission by the Subject Directors and LK (Fiduciaries) Limited (the registered agent of Lime Plc) – through a letter dated 31 March 2016 issued by the lawyers appointed by the Subject Directors to represent Lime Plc – that they are unable to identify where the accounting and financial records of Lime Plc are kept (although the registered agent is statutorily responsible to maintain such records and Mr Laurence Keenan – one of the Subject Directors and also a director of the registered agent – has signed and confirmed in Lime Plc’s recent annual return dated 10 September 2015 that Lime Plc is keeping reliable accounting records to enable the financial position of the company to be determined with reasonable accuracy at any time),



it seems clear to the Company that the winding up application is driven by improper and self-serving motivations on the part of Rex, Schroder and the Subject Directors.



In particular, without access to any proper accounting and financial records, it is surprising how the Subject Directors can conclude that Lime Plc is insolvent.



The lawyers acting for GHL and GHL’s nominated director on the board of Lime Plc have written to the Subject Directors, LK (Fiduciaries) Limited and/or their lawyers with regard to (among others) the financial records of Lime Plc and the above serious breaches/failures on the part of the Subject Directors and/or the registered agent.



The Company and its subsidiaries fully reserve all their rights and will continue to act accordingly to safeguard their interests.



Further announcements will be made in due course, as may be appropriate.



This announcement is dated 14 April 2016.

next suma and hibiscus

KNM now shooting

HalimIsBack ...YK John is you la. Everybody remember kot. aiyo apa la u.

they accumulate more at 0.135 before the next push. Need power ma.

i think they will push :-)

tomorrow possible to hit 0.15 wooo. Report of deal between Russia and Saudi now pushing up Brent to 44 USD now. With the news of private placement plus good news from deal between russia and saudi could push Suma higher tomorrow.

who is the 3rd Party Investor ?

maybe suma will follow. with this volume must be something going on. New shareholder? new black gold discovery ? shareholder pumping in money for new project or facility ...any many other reason. hehehe i also dont know.

maybe higher la since OPEC decision also this weekend. If positive than brent will be push up higher and possible to touch 45 USD.

they find new black gold ka?

heheh now im hoping for it to go down some more in order for me to collect more and more.

I love Hibisus. Muahhhhhh. Muahhhhhh.

AHHAHAHAH . NOW IM WAITING FOR HYDRA COMING IN & THE RESULT OF DRILLING IN NORWAY. :-)

hahaha

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we are waiting for our President Town Hall on 1st March 2016 2.00 pm on the fate of RAPID Pengerang Project. 50 Billion reduction in CAPEX and OPEX should effecting this project and other PETRONAS project.

i already average down. Thank you for pushing it down. Huraiiiiiiiiiiii. Huat laaaa.

hahahahhahah.wakakakakakakkaak

http://www.malaysia-today.net/this-is-outrageous/

THIS IS OUTRAGEOUS!

If this letter is real, that means Tun Dr Mahathir Mohamad is guilty of conspiring to manipulate the share market – which eventually caused many retail investors to lose their pants and go bankrupt.

The name in the letter is the famous Repco Low who manipulated the share price of Repco Holdings.

The saga involving Malaysia’s Repco Holdings, arguably the biggest market manipulation incident the stock market has ever witnessed – at the very least, it is the most jaw-dropping event in the country’s mid-90s bull run.

Wrap your head around this – Repco’s stock traded at around RM5.00 in 1996, was manipulated to as high as RM140.00 a year later, and in 1998, one year later, plumged to RM2.98. The counter was subsequently suspended in 2000 and delisted three years later (meaning dropped to ZERO!) – causing thousands to lose all their money.

The thing is that during the Repco days, on one side they were playing up the whole stock market and on the other hand they were dishing out the pink forms.

It was like a party where everyone made obscene profits!

And now we know that it is based on officially-sanctioned manipulation at the highest level.

And when the party ended, ordinary Malaysians were left holding the bag and sustained shocking losses.

Today, the Kuala Lumpur Sessions Court has once again adjourned the sentencing of Low Thiam Hock, better known as “Repco Low” in stock market circles, to Feb 29, 2016.

Following a near two-hour mitigation session by Low’s lawyer on Monday, Sessions Court judge Mat Ghani Abdullah has pushed the decision for sentencing to the end of the month.

The prosecution is asking that Low be sentenced between five to eight years, and has also demanded prosecution cost of RM3.02 million.

Low was initially supposed to be sentenced on Monday, after being found guilty on Jan 11 for manipulation of Repco Holdings Bhd shares.

If this letter, as exposed by RPK, is real then Tun Mahathir must take responsibility for assisting in manipulating our country’s stock market and be held responsible for the losses of countless retail investors.

After the crash or Repco shares and the 1998 crash, retail investor participation in our stock market was never the same again.

Of course, Mahathir does not need to state the counter since Repco Low owns Repco and hence he would push up his own counter lah… DUH!

How would foreign investors have confidence in our stock market if it is known that our very own ex-PM actually actively participated in market manipulation of such staggering proportion with the most well-known “share operator” of all?

http://www.malaysia-today.net/mahathirs-last-desperate-attempt-to-save-his-son/

http://www.malaysia-today.net/mahathirs-last-desperate-attempt-to-save-his-son/

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Tun Dr Mahathir Mohamad said that all those who are living beyond their means should be investigated (READ HERE). Actually, Malaysia Today said the same thing ten years ago back in 2006 when it was revealed that the Khairy Jamaluddin had bought 13 million ECM Libra shares for RM9.2 million. (That is worth about RM12.6 million today).

There is more to this story, though, because ECM Libra was going to merge with Avenue Capital Resources Bhd to become Malaysia’s largest investment bank and Khairy’s father-in-law, Tun Abdullah Ahmad Badawi, was the Finance Minister cum Prime Minister. So there is an element of conflict of interest here.

However, that is another issue. What we want to talk about here is what Dr Mahathir said today about investigating those who are living beyond their means. Khairy said that he borrowed the RM9.2 million from a bank to buy those 13 million ECM Libra shares.

But then Khairy never published the documents to prove it. He just said he borrowed the money. How do we know he did that? How do we know he did not steal the money or that the money came from bribes because we know he does not have RM9.2 million?

And Khairy did not do what Dr Mahathir has asked the Attorney General, Mohd Apandi Ali, to do: swear on the Qur’an that he did not steal the money or that the money did not come from bribes and that he, in fact, borrowed the money from a bank.

If the issue about living beyond your means comes to question then the government should have investigated how Mirzan Mahathir managed to own Konsortium Perkapalan Berhad? The company eventually accumulated debts of RM1.7 billion and Petronas was asked to bail out the company to save his son. So that comes to yet another conflict of interest since this was done when Dr Mahathir was the Prime Minister.

It is very tiring to hear Dr Mahathir preaching about what should be done and what should not be done and about him asking people to swear on the Qur’an if they are innocent of any crime.

Why did Dr Mahathir give Libyan-American Sadeq Mustaffa RM440 million to set up InventQjaya Sdn Bhd?

Why did Dr Mahathir grant Indah Water Konsortium a concession to manage the national sewerage system and gave them RM1.4 billion on top of that?

Why did Dr Mahathir not sell Malaysian Airlines System (MAS) through an open tender instead of giving it to Tajuddin Ramli who had no knowledge whatsoever about running an airline? And why did Dr Mahathir buy back MAS at RM8.00 a share when the shares were being traded at only RM3.60?

Why did Dr Mahathir bail out Time Dotcom Bhd, which had debts of RM5 billion? Furthermore, why did Dr Mahathir bail out Time Dotcom Bhd using RM904 million from Kumpulan Wang Amanah Pencen thereby incurring an instant loss of RM280 million? And did Dr Mahathir not also ask EPF to buy 81.6 million Time Dotcom shares at RM3.30 when the shares were being traded lower hereby incurring a loss of RM100 million?

Why did Dr Mahathir bail out Projek Usahasama Transit Ringan Automatik Sdn Bhd (Putra), which belonged to Renong, and Sistem Transit Aliran Ringan Sdn Bhd (Star) using almost RM600 million of EPF’s money and which resulted in EPF having to write off RM135 million with a share loss of RM96 million?

Why did Dr Mahathir award a RM24.3 billion contract to PSC Industries Berhad together with an advance of more than RM2.5 billion to build naval patrol boats?

The list can go on and on but it is beginning to become very tedious listing down the hundreds of ‘why did Dr Mahathir yada, yada, yada’. Did Dr Mahathir ever prove he was not guilty of any wrongdoing or swear on the Qur’an that he is innocent?

The point is Dr Mahathir preaches and moralises whereas when he was Prime Minister for 22 years he was even more blatant in his abuse of power and the money he lost through his misadventures — if they were misadventures in the first place and not acts of corruption. But then at that time we were not allowed to question what he did the way he is questioning others today.

And when the allegations were made and he was asked to explain his actions we never said he was guilty until and unless he can prove his innocence. We accepted the doctrine that someone is innocent until and unless it has been proven that that person is guilty.

However, when it comes to others, Dr Mahathir says they are guilty until and unless they can prove their innocence. And Dr Mahathir wants people to prove their innocence and to swear on the Qur’an that they are innocent.

Even when there is evidence that Dr Mahathir has committed a crime he merely writes a letter admitting what he did (since he cannot deny it any longer any way) and then says that he was not aware that what he did was a crime. The letter below shows how Dr Mahathir escapes punishment for crimes he has committed and where the evidence is very clear: he pleads ignorance ...

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ok nak sambung keje. :-)

Hibiscus said it viewed this as “a clear attempt by the subject directors and their related parties to avoid liability through improper means.” GHL and its nominee director have challenged the latest actions by LKFL and the directors.

“In addition, as Section 12.1 of the shareholders’ agreement stipulates that each shareholder of Lime Plc (including Rex and Schroder) can only nominate one director each, the above position of three nominees from two shareholders represents a serious contravention of the shareholders’ agreement, and will be subject to appropriate legal and other action accordingly,” it said.

It said its unit Rex International Investments Pte Ltd’s (RII) direct interest in Lime Norway had increased from 26.18% to 96.49% after subscribing to the entire new share issue of Lime Norway for 77.4 million kroner (RM37.4mil).

Rex said Lime Plc, in which Rex has a 65% interest, held the remaining 3.51% interest in Lime Norway.

Hibiscus is disputing this, saying in its quarterly report for the quarter ended Sept 2015 that RII would only have a 26.18% direct interest in the enlarged paid-up capital of Lime Norway, with Lime Plc holding the remaining 73.82% direct interest.

According to Hibiscus, its group’s effective interest in Lime Norway would decrease only to 25.84% from 35% previously on completion of RII’s capital injection into Lime Norway.

http://www.thestar.com.my/business/business-news/2016/02/04/hibiscus-jointly-controlled-company-lime-petroleum-faces-liquidation/

Hibiscus’ jointly-controlled firm Lime Petroleum faces liquidation

KUALA LUMPUR: Hibiscus Petroleum Bhd’s associate company, Lime Petroleum Plc (Lime Plc), which holds oil and gas concessions in Norway and the Middle East, is facing the possibility of being wound up.

Hibiscus told Bursa Malaysia that three Lime Plc directors nominated by the early-exploration firm’s other shareholders -- Rex Middle East Ltd and Schroder & Co Banque SA -- had called for a shareholders’ meeting on Thursday, Feb 4, to consider the winding up of Lime Plc as well as other matters.

Hibiscus had purchased a 35% equity stake in Lime Plc for US$55mil (RM225.2mil) in 2012. Its stake is being held by unit Gulf Hibiscus Ltd (GHL).

Hibiscus, which had been a special-purpose acquisition company prior to entering the Lime venture, said one of the Lime Plc directors Laurence Keenan, through his wholly-owned outfit LK (Fiduciaries) Ltd (LKFL), had stated that he and the other two directors, Karl Helge Tore Lidgren and Simon Comina, planned to make decisions at the meeting without the presence of the GHL-nominated director.

“According to LKFL, one of the consequences of the winding up action will be the staying of the derivative action against the subject directors (which will be to the benefit of those individuals),” Hibiscus said in its statement.

The company said the matters set out in LKFL’s letter regarding the meeting were initiated and pursued by parties “who are all conflicted and have self-serving interests in the matter.”

Hibiscus said it viewed this as “a clear attempt by the subject directors and their related parties to avoid liability through improper means.” GHL and its nominee director have challenged the latest actions by LKFL and the directors.

“In addition, as Section 12.1 of the shareholders’ agreement stipulates that each shareholder of Lime Plc (including Rex and Schroder) can only nominate one director each, the above position of three nominees from two shareholders represents a serious contravention of the shareholders’ agreement, and will be subject to appropriate legal and other action accordingly,” it said.

On Dec 23 last year, GHL filed a suit against the three directors for alleged breach of trust and/or breach of fiduciary duty, particularly in relation to the actions taken to effect a substantial dilution of Lime Plc’s shareholding interest in Lime Petroleum Norway AS (Lime Norway) under a restructuring undertaken by Lime Norway.

Lime Norway, a pre-qualified oil company in Norway which has stakes in 19 exploration and production licences there, is a wholly-owned subsidiary of Lime Plc. The suit was to enable Lime Plc, an entity which is jointly controlled by GHL, to make claims estimated at “US$100mil and above” against the trio.

Singapore-listed Rex International Holding Ltd, which wholly owns Rex Middle East Ltd, announced to the republic’s securities exchange on Dec 14 that Lime Norway had completed a restructuring exercise approved by Lime Norway’s shareholders at an EGM in October 2015.

It said its unit Rex International Investments Pte Ltd’s (RII) direct interest in Lime Norway had increased from 26.18% to 96.49% after subscribing to the entire new share issue of Lime Norway for 77.4 million kroner (RM37.4mil).

Rex said Lime Plc, in which Rex has a 65% interest, held the remaining 3.51% interest in Lime Norway.

Hibiscus is disputing this, saying in its quarterly report for the quarter ended Sept 2015 that RII would only have a 26.18% direct interest in the enlarged paid-up capital of Lime Norway, with Lime Plc holding the remaining 73.82% direct interest.

According to Hibiscus, its group’s effective interest in Lime Norway would decrease only to 25.84% from 35% previously on completion of RII’s capital injection into Lime Norway.

Hibiscus shares gained 2.5 sen to close at 21 sen on Thursday, with 19.32 million shares being traded.