Hi Sifus yang good in analysing financial reports:

How to tally the increase in the Investment in Associates (Balance Sheet) to the notes to the accounts?
31 December 2021 31 March 2021
Investment in associates 17,578 3,469

4 Changes in composition of the Group
(a) The Group, at an Extraordinary General Meeting held on 8 June 2021, received shareholders? approval for the proposed diversification of the Group?s existing business activities to include the manufacture, sale and
distribution of gloves through the approval of an investment in a 40% equity interest in Dynacare Sdn. Bhd.
("Dynacare").
(i) On 9 June 2021, the Company subscribed for 2,000,000 ordinary shares of RM1.00 each, representing 40%
equity interest in the share capital of Dynacare, for a cash consideration of RM2.0 million. Effective from that
date, Dynacare became an associate of the Group.
(ii) On 12 July 2021, the issued and paid up share capital of Dynacare was increased to RM10.0 million by the
additional allotment of 5,000,000 ordinary shares at an issue price of RM1.00 each. The Company subscribed
for additional 2,000,000 ordinary shares of RM1.00 each for a cash consideration of RM2.0 million.
(iii) On 7 October 2021, the issued and paid up share capital of Dynacare was increased to RM17.0 million by
the additional allotment of 7,000,000 ordinary shares at an issue price of RM1.00 each. The Company
subscribed for additional 2,800,000 ordinary shares of RM1.00 each for a cash consideration of RM2.8 million.
(iv) On 24 November 2021, the issued and paid up share capital of Dynacare was increased to RM42.0 million
by the additional allotment of 25,000,000 ordinary shares at an issue price of RM1.00 each. The Company
subscribed for additional 10,000,000 ordinary shares of RM1.00 each for a cash consideration of RM10.0
million.

Jeffreyteck,

I have the same feeling, wrote to them, and below is the reply:

Dear Sir/Madam,

Thank you for your email.

We noted your comments therein. We wish to inform you that our business operations have not been affected in anyway by the share buy-back.

The Company’s share buy-back is carried out in accordance with the procedures and mandate given by the shareholders of the Company and is in the interest of the shareholders and the Company.

Regards,


Choo Se Eng

Company Secretary

I have further asked but so far no response :

Hi Choo Se Eng,

Thank you for your reply. I refer to your reply .... " and is in the interest of the shareholders and the Company."

1. How can you be sure buying on daily basis is aligned with the interest of the shareholders and the Company. It doesn't seem to be supporting the share price or moving it up, or anything.

2.What exactly is the benefits or interest that we are looking at currently by buying on daily basis?

3. What is the company's internal policy to prevent the person entrusted to do the share buy back is clean? I am imagining, "if" let me do the job, I will be making a lot of money buy now with a few buying and selling strategies, since I am quite sure whatever price I bought, I can log on to the company account to buy it back from my personal/proxy account. I noted a few times the "timing" daily transactions look so weird, one someone sold, next moment (less than few seconds, there is a bought, and thereafter it can be no more transaction the rest of the day.

4. I have checked thru various announcements for share buy back and noted that your company has the highest, almost daily SBB transactions in Bursa. Why abnormal compared to others?

5. Will your method of buying on daily basis will achieve intended results? What is the results that you want to achieve?

6. Can you please justify that you buy on daily basis will meet the mandate?

Thank you.

Your faithfully