Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Have icap AGM provided good explanations to all the above questions today? Please share.

I attended the AGM and key questions were answered:

i) Don't need to wait until 2025 to wind up the fund. If shareowners want to wind up, can bring it up for a vote

ii) The dual listing fee was charged because IRB/tax office deemed dual listing fund expenses incurred from 2010 to 2016 should be borne by ICAP/closed end fund, not by fund manager. Also, the RM6.68 mln charged was already discounted because the real expenses were over RM12 mln. The difference will be absorbed by the fund manager.

iii) The JR is to seek court interpretation on securities commissions’ guidelines for closed end funds' 20% shareholding limit

iv) The annual report showing significant unrealised losses on boustead and parkson is due to accounting treatment which doesn't take into account dividends, spin-offs etc. For boustead, when dividends, partial share sales of boustead in the past and free pharmaniaga shares etc. are added back, ICAP investment in boustead is actually positive. For parkson, a chunk of shares were received from lion diversified share distribution. So adding lion diversified 6+ bagger sale, partial share sales of parkson in the past, cash dividends and treasury shares, parkson is underwater by less than RM2 mln. This means even a slight improvement in Parkson's share price will result in a gain, and it will be in positive position just like boustead.

i used to give lifts on my rocket ship while cruising on my magic carpet – flying cars? big deal

a king of tattoos, a conman, a dumbmoney and an observer of them commenting on a professional money manager a month out of the fund's agm. you just can’t make this up.

or can you?

aahhh... so it looks like you get paid by both the number of words and posts...

...and seems like your KPI also includes speed of reply... better hurry lah,... must please the london paymasters....

observatory, you being paid in pound sterling by number of post or by number of words ah?

since you a fan, should spell buffett properly, if not london boys may deduct payment, they love to cheat

observatory must be working for CoL aka london boys or paid by them to write - they are after all world famous for conducting media campaigns.

after all, agm of icap is coming soon so scared to say in media or risk getting sued for defamation (https://www.investegate.co.uk/capital-dynamics-sdn/rns/high-court-s-decision-on-defamation-case/201909020700087970K/) - so say in this forum to con other investors

if icap is so bad then why are the london boys buying non-stop? are the ang-mohs so stupid meh? or our local investors so blind?