Locked profit first is also learn that Gtronic management and board director have change to syndicate liked to SCIB as same director have seen appointed on Fed 2024 and are now control Gtronic board.
these appeared as planned operations. did the operators readied themselves with "computer simulations" and already know the expected outcome, it just cannot be a random exercise! ah..... speculators are dead meat.
EPF will ease to be shareholder as it have cut down stake from 13% to current level 5.2%, will soon announcement will be make in bursa.
Take note, EPF have commence selling Gtronic ever since APB emerge as shareholder which in turn control Gtrinic board and management. These group of director are link to scandal serbak and trouble SCIB.
Just check latest Gtronic annual report and its newly form board director and management team, all of them are from SCIB and previous Serba group, you will notice why EPF keep selloff
there are no news on Boardroom disagreements/tussels. no news on hostile takeover. so the logical thinking process - there maybe chefs dishing out dishes not to the liking of the visiting tasters. anyway thanks to all the inputs.
Other shareholders of Globetronics include Ooi Keng Thye with a 11.39% stake, Lembaga Tabung Haji with 5.36%, and the Employees Provident Fund, whose stake has been reduced to 5.28% at the time of writing, from 13.26% at end-March. https://theedgemalaysia.com/node/726185
I recently heard that KPMG has been auditing this company for 7-8 years, so is a common practice. Regulatory frameworks like the Malaysian Code on Corporate Governance (MCCG) often advocate for auditor rotation after a set period to ensure independence and prevent familiarity between the auditor and the client. Typically, audit partners are required to rotate every 5 to 7 years, which can lead to changes at the firm level.
When the company was being run by ex-owner, the cash flow generated from operations has been consistently on the the positive side despite going through several downturns. The moment the ownership changes hand, you can see the the cash flows from operations turn negative quickly in the last 2 qr report due to sudden large changes in trade and receivables in a magnitute of XX millions. They are stipping millions in cash from the company to offer credit line to which "client" i wonder? And the management shares no insights on this in their qr report. Fund managers auditor would freakout seeing this kinda modus operandi....
Time to bottom fish. Stock price was pressure by shorties after company auditor { KMPG} offer their resignation voluntary. Price dropped like a bomb after the news announcement. Technically prices have now consolidated. Can do some intra day trading.
If want to compare with CEB Ng Kweng Chong(ex-owner) is smarter then Ms Tee selling at RM 2(almost peak) unlike Ms Tee sell near bottom so which company you prefer?
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....
Bursino
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Posted by Bursino > 1 month ago | Report Abuse
There isn't any shareholder with more than 12% shareholding in the company.