Sudden surge is illusionary only. The company is rudderless without clear direction now. It is drifting in the wild ocean as if it was heading towards the remote Indian ocean where it would be sunk to rest at the seabed of the deep ocean forever like the Titanic.
All the award received can put down to rest. Market too saturated with payment gateway co. Don't see any clear direction or where it's heading in the near future.
As pointed out, the youtuber was touching on only the qualitative factors but failed to consider the qualitative factors such as the instability of the mgt team, the direction of the company under the" hostile mgt " and many other circumstantial issues within and surrounding the Organization. On this basis, the advice is incomplete and inappropriate.
If I am an employee, with all these on-going, I might as well leave. Now, from an investor point, what, would an investor do with all these?? Tuhan berkati anda!
The First Time Ever I Saw in Bursa Announcement for the reason of the resignation!!
Change in Boardroom Date of change 20 Mar 2023 Name MR NG SHIH FANG, NG SHIH CHIOW Designation Executive Director Type of change Resignation Reason: *Due to he does not want to be in the same Board of Directors with the current directors*
The duo should fight from within the BOD.Now then they have resigned as Directors,its not easy to fight from outside . However ,since they are still substantial shareholders ,they can still gather substantive forces from other shareholders to remove the entire directors through EGM.
The share price is expected to be depressed further following the departure of all the three co- founders as executive directors. Who knows the duo are capitalising on their resignation by collecting cheap sales now?
The reason for resignation as directors given by the duo is insinuating that the current BOD is not fit and proper to run the company,which has sent a clear signal to the market.
Such is seen as a barhinger of the plummeting of share price to come...
I think the mah fi ya group will depress the share price till the duo will become pauper. But I guess the duo will just hug the share with them till dawn of day.
Anyway, we're all conned by people with same surname, that is N g.......
normal practice for saboteur is to let that 17.7% shareholding to below 10% by a series of corporate exercise, then again, right issue, private placement........macam macam to let it below 5%
Many counters like this in klci and no proper regulations. As such, all these kind of conmen will find ways to scam investors. Later, these same persons will be busy with their own new companies and the same cycle will happen again!
Life is really funny. Everyone was fighting for a piece of it at one point. Then, all of a sudden, no one wants it. The ship is now without a captain or an assistant. Who is in charge? It is waiting for a pirate to hijack it and take it to the land of doom.
I don't hold any revenue. Lucky for me. My friend bought at 1.60 and did some averaging above Rm1. After that he stop talking about it and I stop asking too. If plunge to 10c. I think his loss could be substantial.
It is clear that the current BOD is not acting in the best interest of the shareholders but would let the company rot and exhaust the resources of the Company till it is heavily indebted. Basically ,the company is destined to be doomed.
The Duo are still holding about 90 Million shares worth about RM 31.2 Million ( assumed to be valued at 0.355 as at to date ). The shareholding of the Duo would probably be worth less if the share price continues to plummet. The duo are mulling hard if they want to keep their shareholdings and fight back or dump their entire shareholding open market. The duo might do so in order to depress the shares to the maximum to teach the incumbent a hard lesson.
I have a feeling that the duo would dump their entire shareholdings OPEN Market instead of off market . I Know it is expensive to sell open market but the duo are not concerned with the money anymore. Their agenda is to plummet the share price to the maximum to make the incumbent 's shareholdings worth only penny at the mercy of the Duo.
The moment the duo have resigned as Executive Director and Director respectively , they might have probably thought of disposing the entire shareholdings in time to come as the duo are no longer Directors who are required to be accountable to the shareholders. They are not accountable to the shareholders as they are no longer in the capacity as directors . Their capacity is of shareholders who are at liberty to sell shares at their disposal.
It is unfortunate of the Duo to be incriminated for the disposal of Motor vehicle (MV ) without Board resolution. As said, if there was no board resolution for the purchase of the MV in the 1st place , then it was not a company car . The money paid for by the company could be taken as a loan to Director. The Director can register the car under his name and dispose of it without board resolution ( MV is not a company car) . No big deal. The legal case brought against them is to prevent them from returning to office and the case will take some time. Eventually, the duo would be removed from the BOD until they have cleared their names.
To pre-empt from such occurrence, the Duo have initiated their resignation ,which i think they have done the right move .
We refer to the article dated 16 March 2023 appearing in FinTech News portal entitled “Revenue Group’s Woes Mount as Danny Leong Resigns as Group CEO - Fintech News Malaysia” ("the News”).
The Company wishes to clarify that the present Group Chief Executive Officer (“Group CEO”), Mr Danny Leong has tendered his resignation where the Board has asked him to re-consider his decision and the Board understand he is indeed, re-considering it.
The Board has taken swift actions to search for suitable replacements and has since appointed new executive and independent directors. We believe the collective experience and knowledge of the latest Board members provide the Group with enhanced governance, leadership, and overall management quality.
Should there be any further developments on the above matter, the Board will release the necessary announcements in a timely manner to Bursa Malaysia Securities Berhad.
This announcement is dated 21 March 2023.
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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....
Besafe
1,289 posts
Posted by Besafe > 2023-03-17 10:35 | Report Abuse
If any of this 3 Ngs going to start any new company just beware!. These 3 fellas will used back the same way to con and cheat the investors.