IF Management announce the failure of RE after the AGM (which is extended the period since last year) and the director noted the failure and sell before announcement and AGM, Bursa should take action on it.
Fam Jenny: I don't think the UMA query was the trigger. This has become a dime a dozen the past few months. In fact, rather predictable and expected. I doubt traders had given it much weight.
I believe it's a combination of these: 1) Pump and dump by syndicate. 2) Prudent traders closing positions and taking profit. Especially those who know how difficult it is when a counter approaches a round number. Better to take money off the table first and see how it handles the 1.00 level.
3) People panicking. They had a good reason to join the selling when they see others giving away to Buyer's price.
4) Automated cut-loss selling at prices previously set. Some trading platforms have this very useful facility. I know Affin-Hwang does. Many people can't stay glued to the screen so they set this as precaution should the unexpected happen.
It started to drop at 4.30pm and somebody wrote it received it at 4pm plus.At the same some guys overbought without money and dumped when they got the news.
Just now I checked its a/c,for the 4 quarters of the last f/a ended 31st March 2016,it made profits not 2 quarters,and its earning/share was 9.96c. It revenues was RM377mln with a paid-up of RM70,which means 5 times its capital.Simply means for every ringgit,they are able to generate a sale of RM5/-.To me their management and directors are dynamic, enterprising and capable.So we must applaud them for their hard work,leadership and entrepuership.Unlike certain stupid management just know how to ask money and dispose their businesses when anything goes wrong and waste our funds and finish our money like wintonni,Hubline,etc.
For those who like to blame others for the misfortune to pacify themselves for the surprise losses, u can pluck the following illogical reasons from the thin air : 1. sharks dumps earlier, half way thru the euphoria of the final thrust up due to Duit/Calvin/Icon's sell calls. Actually, they plan to do it next week after hitting Koon Bee's TP of 120, just to trap more ikan bilis for profit maximization. 2. CP Teh's sell call is too late due to item 1 above on change of dumping schedule. 3. Today is a PH, interrupting their emo build-in plan. 4. the trend defies the FA/TA norms. 5. bad fengshui this year due to breaking too many taboos.
And many others that u can think of. Do blame to stay investing happily.
Calvin Tan,to me you are unfair person,if the nta=89c,pe=10 based on market price=99c,why should the price be 30c,below its par value of 50c.For 99c,it is a fair value for a small paid-up company. Maybe,it should slowly move up and not at such fast pace but demand wouldl set its speed with a lot of gamblers around. One director owned only 50,000 shares disposed 40,000 shares yesterday frightened some investors and triggered the panic.
Only 40k,then made such a who ha............,many here owned much more.He may just want to realise his profits for his raya and what wrong. I think many have missed the boat earlier,wanted to get in so create shocks of panic to depress the price.I expect the results to be good as they have proven for the last 4 quarters.
QQ88,don't tell unrelated issues to me about manipulation,maybe in you are an expert in it.What I want is its worthiness based on a/c and fundamentals,provides facts on it.They have shown losses in their a/c so I presume it is genuine. Calvin criticised their receivables/debtors being increased and high but he never took into consideration that the sales had increased,naturally there will be an increase in debtors.My relative exports services in shipping and others but they use letter of credits to ensure payments so what is the problem of high debtors if they can secure themselves with this provision.Being an outsider we cannot simply comment without the real information as we may slander the reputation of the board.Frankly I have high respect for engineers bcos they normally have high intregrity in practice and are disciplined lotas they need to work hard to obtain their degrees. QQ88,you are brainless just simply bla,bla like a goat.
Want to get more positive qi for greater fortune? Go loving all the women around you, just like what Duit and Rchi are practising. Try not to offend them for even once. Else, they will pump n dump all the negative qi at u to make u a big loser for life.
what we think , what the board do and what Mr Market feel is three different things. Mr Market is illogocial and acts at its own whim and fancy. Moody and unpredictable. Today is a holiday just keep watch on Wall Street and FTSE.
As far as the Malay director is concerned, this company is in perpetual financial crisis, always living hand to mouth, always seems to be in cash crisis.......He don't understand why is the share speculated so much, price went up so high....and he sells every time it is speculated upon.
Selling huge to overseas without LC.. if the overseas customers refuse to pay... you cannot even bring back your goods... as the freight charge itself would be murder..
Huge impairment of receivables....
And... this is assuming there were huge sales to overseas.. in the first place
QQ88,honestly I didn't buy bcos it has moved from 30c to RM1/-,not that it is no good but missed the opportunity of catching a golden goose at cheap price.But after the tanked down I bought a little at very low price but it is insignificant.
Human r mostly after money. They revere on money (whatever fortune, inclusive stock) god. they feel great when the god drops them a crumb or two. Haha.
Duit,you can be sweet to person you like but can harsh to person you don't like without reservation.I cannot stand unreasonable persons and I give fair comments irrespective of whether I own them or not.
Size of Holdings 1,001 – 10,000 Average 6346 Number of Share 10,001 – 100,000 Average 33559 Number of Share 100,001 – 6,999,999 Average 449995 Number of Share 7,000,000 and above Average 23685623 Number of Share
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....
Lim Kan Yen
39 posts
Posted by Lim Kan Yen > 2016-06-22 11:57 | Report Abuse
IF Management announce the failure of RE after the AGM (which is extended the period since last year) and the director noted the failure and sell before announcement and AGM, Bursa should take action on it.