From The Edge today, "Water and sewerage engineering specialist sAlcon Bhd said its wholly owned subsidiary Salcon Development Sdn Bhd has entered into a share sale agreement with Datuk Ding Pei Chai, to acquire the latter's 30% stake in Prestasi Kemas Sdn Bhd for RM 5.8 million. The acquisition will increase Salcon's stake in Prestasi Kemas, a property development outfit, to 70% from 40%.
Salcon has advantage as comparing to other 2 in the Langat 2 project. Salcon is the Langat 1 sole main contractor and it has the capability in doing the water treatment projects as comparing to others... and they can review the project and find fault on those signing the agreement esp those related government officers... but...they cannot stop or cancel the projects totally because it is an urgent water issue to Klang valley...I thk Azmin and PKR government understand this critical point.
First and foremost, you have my respect for fighting for a cause. However, what Taka said kinda makes sense...Are you going to counter-sue if you strongly believe that you are right? Furthermore, could you please elaborate specifically on the contents of the contracts that were agreed between UGMS and Salcon? (I mean if i could, i will like to review the whole original contract to properly understand...sorry..im dumb) ....Among other things, I am just curious as to why you stated on your blog that you are selling the rights to your book for USD 50 000 when you haven't even finish your book on the whole matter (Why are you promoting something that hasnt been finished or finalized?) Im a bit skeptical about your cause in all of this. Do please explain.
Lugman, Salcon Engineering Berhad is not wasting money in the law suit. It is in fact protecting investors money based on the business agreement & contract with its customer.
If you think you have a case and confident you could win, then go ahead file a counter-suit. The court may award you with a huge settlement amount much more than the legal fees that you need to pay. So consider the legal fees you need to pay as an investment.
And stop running down the company in this stock forum like the medicine man who came out in the morning to wave the sun to come out.
Lugman, I am still holding to my shares. I suppose you do not own even a share of Salcon. Do you still need me to tell you whether to buy, sell or hold?
You should just concentrate to do what you know best and not wasting your time here to discourage people from investing in Salcon just because you got an outstanding dispute with one of its subsidiary.
If you think you can be so influential, then you should approach Great Eastern and OCBC to tell them to stop accumulating Salcon shares.
Lugman, the whole market is undergoing a selldown and you are targeting only Salcon. What is your intention and objective, trying to make your presence felt here ?
Tell it out from the bottom of your heart. Don't behave like the medicine man. We are not like the villagers who believed that the sun belongs to the medicine man.
Lugman, you are not a qualified stock market guru. Don't try to sell your theory to me or anyone in this forum.
If you think highly of your theory, execute it yourself and win lots of money so that you can afford to engage the best lawyers to file a counter-suit on Salcon Eng.
Taka has his reason for being offended by Luqman Michel's comments. Many of us are Salcon shareholders and we hope Salcon is doing well successfully and become a more proftable company.
@Luqman Michel, you have indicated with pictures to Salcon , that they're not doing their job well. But, this doesn't reflect they're not a good profitable company. Mismanagement can take place in any companies regardless they're a profitable or a loss making company.
Jacklintan is right. Luqman is also correct in saying that an investor should buy when volume is low and sell when volume builds up- I studied the price chart posted by Luqman. Also when prices break a strong support like 82 sen it is time to sell and collect later. Different style of investing. Our aim is to make money- let us hope Salcon makes money and declares good dividends. It does not matter who is right and who is wrong.
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....
jenabchen123
1,219 posts
Posted by jenabchen123 > 2014-09-12 16:10 | Report Abuse
Sounds yummy.