theteoh, yes, 21mil share on may 21. They bought 28.5mil shares over a week in late April early may, when average price was 26-28 sens. This means they sold at big loss! Will they buy back?
I guess the real issue is whether Sanichi uses our RI money to do the things it said.... I give it first and last chance to prove itself. Also, I'm ok to wait 6 months to see it really make any ventilator.
From the movements of the share transactions of this counter in the past few months, it's share price was once maintained at 7 sen for long time and then out of sudden drop sharply to 3 cents, and then it went into consolidation and the price was pushed back to higher value of 20 to 30 cents again so that the operator can push it down again to 10 to 15 cents. The results of these manipulation was that it caused many innocent invested losing tons of their hard earned money.
And worse still, it came out with the right issue exercise and during the cum right period, they cornered the right share price to half a cent and causing no one could escape and thus force to either subsribe the right issue with 8 cents or losing the whole thing if they did not subscribe.
Before the closing of the rights payment date, they pushed the price from 15 cents to 30 cents.
And once many investors subscribed the rights and before the shares and warrants are listed in the Bursa on 28/5/21, they pushed the share down to 6.5 cents. As investors have yet to obtain their shares to sell, basically they are can do nothing but just watching their share investment being busted falling a sharp fall.
I wonder what has the Bursa done to allow this sort of manipulation to be operated in Malaysian market causing big outcry of the minority investors to lose their money like that.
This is definitely a loophole in the equity market system and we investors shall make complaints to Bursa, and to the extend question Bursa why they never tighten the rules which allow listed companies to use the same tricks over and over again ?
As an investor who lost money by this sort of manipulated right issue exercise, shall not accept this sort of unfair manipulation and we shall initiate complaints and or legal action against the wrong parties who took advantage of the loopholes and also to question the regulatory bodies who failed in their duty and responsibility to deter day light robbery like this.
They have use these tactics for other penny stock as well. Check back the market you will know which counters. They all gang up together and con our money kaw law.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Bangsabursa
233 posts
Posted by Bangsabursa > 2021-05-26 02:51 | Report Abuse
If price up so high kena UMA then drop.. if price drop kena UMA then ??