Btw, it seems like very little people know about the negotiations between SMTRACK and GLC. A lot of people still stuck at the news for Tan Sri Lee Kim Yew.
I think it's mostly true. They just waiting for people to take the steps up, since they want to have cheaper prices. 0.5 cents hike for lots of shares is still a huge cost.
IDK whether this is true or not, seems like SMTRACK is going to have a signing ceremony with 5G Infratech Sdn Bhd this coming Thursday, 13 January 2022 at Sheraton Hotel, PJ.
When contacted by StarBizWeek, Lee says that his entry into SMTrack is only for “passive investment” and that he will not take up an active role in the board of directors.
Interestingly, however, he hints about a potential collaboration between SMTrack and his existing businesses.
“I like it (SMTrack) for its technology focus.
“I took up the stake so that hopefully, the board will pay attention to me and what I do,” he says.
Lee declines to comment when asked whether he would raise his stake in SMTrack from 5% currently.
Late Friday, SMTrack announced the appointment of Datuk Lim Hwa Tat as executive director, following his emergence as a substantial shareholder with a 5.14% stake.
Lim, who is also managing director of Sersol Bhd, acquired 29 million shares in SMTrack in the open market on Friday.
SMTrack also appointed Datuk Seri Tan Choon Hwa as a non-independent non-executive director, after he raised his stake to 5.4%, from 3.16% previously.
Tan acquired 20 million shares in SMTrack on Jan 6 for 26 sen a share, also from the open market.
Dude, you are trying to correlate his acquisition with the drop. It's totally false. The drop during Jan 2021 is caused by the cancellation of MOU between a Taiwan company with Metronics. So, maybe investigate what really happened first before you post something.
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newguy0801
1,616 posts
Posted by newguy0801 > 2022-01-07 11:46 | Report Abuse
Lol, stuck at the tug of war between 0.285 and 0.29 again..