I've said this many times before, Eddie will sell his shares before any financial announcement based on poor financials. True and behold, he sold over 14 million shares on Monday using insider information and front-run all of you on the 27th February before the financial results are released are 28th February. I also said the share price will collapsed to 30 sens and it is happening now. Think I am giving random and useless information just to sway those votes? Think again. Eddie Ng now is urgently offloading more shares...more selling pressure to come. If you trust Eddie as the management team, here's what you end up with.
He got the point. EN did offload his shares privately ( not openly ) before the release of QR loss situation. Do you consider such act as insider trading ? Pretty obviously, right ?
Zero sale of EDC is quite a normal scenario. I remembered it happened before when bank didn’t buy.
The interesting thing from the quarter result is this one… “The income from the electronic transaction processing segment decreased by approximately RM13.25 million mainly due to lower average value per transaction processed and the accrual and repayment of outstanding transaction settlement to an oversea online merchant amounted to RM9.16 million.”
Can the revenue insider team enlightened us how is it possible that the revenue from the electronic transaction is in negative? Isn’t the money received and payment to merchant should be matching one? Too busy leaking information and forgotten to close the accounts?
1cent view… now the pictures looks a bit clearer why the Ngs brother want to kick out the existing team and even the auditor during the AGM… the one and his side-kicks that manage the finance didn’t do a proper job and want to stop others to blow up the problem, because they are the biggest shareholders and at the 30sen as mentioned by the loyal employee… their wealth will diminish further. Dino sell more shares at higher price and buy back at lower price like an operator, I don’t believe they don’t have the financial information given that their trusted loyal insider employee have accessed to it?
Each time before qr or any major announcements this pariah EN sure disposed his shares. Now with the on going fighting with the 2 bros, this counter is aa good as game over! Conmen company of the year.
There is nothing's wrong for the duo to dispose of shares and buy back cheap thereby increasing their shareholdings. but look at EN's current shareholding which has been gradually diminishing to be negligible soon. He just sells and doesnt bother to buy back no matter how cheap it is. He has directly sent a message to the market as if he has lost faith and confidence in the Company .
It is absolutely nothing wrong to sell high buy low. But you need to look at the quantum disposed vs quantum purchase. Dino sold more than he buy back.
Your next argument will then be his nominee is buying on his behalf, then what make you thinks that Eddie dispose is not his nominee pick up? I look at Eddie disposal pattern, quite a number of his shares is via off market whilst Dino is open market.
If the nominee is picking up the shares, it is very expensive to transact via open market as it involves transaction cost (both sides) and also the chance of the shares will be taken by others, thus losing the shares and increase the cost (need to buy back the loss shares at market price).
Everyday new low until the duo satisfied with the game of throne. BwK will be crowned as what then ? Owed money to an oversea online merchant until 9mil++. This I also cannot gulp down as to how this can happen. What this oversea merchant selling ya, selling gold bar ?
Conclusion, all conmen la this company. Earlier price shoot up to rm 2.40 also due to goreng and speculation after listening to their webinars. Last time this bwk EN day day come out talk about how steady this company will be. And always asked investors to buy! Now his fb also hilang! This fella talk nonsense good. And now on going fued with the 2 bros making it worst. From making money now losing money each quarter!
I think the duo are bent on winning the fight and are bent on diversifying to proptech no matter what. So its an "lose lose" situation now.
Pity the retail investor who still holding massive share of this counter when it is flourishing with good news pushed by the bWk.
Payment gateway are saturated market. I hope revenue have a better plan for the future of their business, not just want diversify to something which many are already doing but not going anywhere, just sideway only.
Well, if you said bad. I will disagree la, some of the area starting to convert rev qr pay. Recently just visit some UOA development, they are using rev qrpay for parking.
Still awaiting for the AGM to post the question "why Owed money to an oversea online merchant until 9mil? why online retailer was that ? How come can owe so much? Beli emas ka ? Who is that overseas online retailer?? bla bla bla......" The list goes. Then when come voting time, i will know what to vote ma.
Thanks to the Duo bro lor, greedily jack up the operation expenses and feed their own members fat fat... So maybe in early Feb they already know the terrible QR from their Finance Dept's members, so they quickly sold their share in mid Feb.
The seller said his grandfather kept the stone for 100 years. He said the stone was worth more than a million dollars. The buyer said Cut it open. Oh! Just a Fancy junk stone! The buyer said It was worth 1 million before you cut it open. Your grandfather was trying to teach you a lesson on how everything should be viewed. The seller just dishonored his grandfather in a single cut.
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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....
sigma404
51 posts
Posted by sigma404 > 2023-03-01 11:03 | Report Abuse
All bad news in the same time, cleaning all the rotten fish in one shot... everything should turn out better soon