Kuala Lumpur 25 May 2016. The latest quarterly result was well crafted with obvious flaws remain unanswered. Sales drop significantly. The lost of significant material contract, the Selangor road maintenance, was not made enough effort to inform investors, as well as exceptional lost of cash flow compared year to year, coincidentally with the carried forward of series of suspicious personal agenda law suit which strangely cover up of "director names involved" in the account summary implied potential abuse of company resources for certain director personal conspiracy initiatives. The public company has demonstrated serious potential irregular activities which seems to manufacture attention diversion. What the certain directors trying to hide and shamefully cover up their names remain mistery.

Worst of all, with dubious cash flow and questionable project margins, the company board of directors, lead by the controvertial employee-turn-shareholder managing director has tried to dilute public shareholders with share placement or perhaps right issue to con investors. If the missing money in-between questionable crony suppliers is not reckless enough, the cash call would suck back all petty 10 years dividend from innocent investors. That's real con job by con artist, and thanks to Bursa Malaysia which could be miss leaded and falls into conspiracy chasing a carrot shadow and forgot the elephant in the room, would potentially be used in assisting or approve such scam plan when money are splashed enough to jokers and clowns who write fancy stories. When it happens, that's real joke in capital market. The level of governance shall be revisited to nail down by authorities and expose the real culprit operating like corporate criminals in this country if we ever wanted to win foreign investors confidence. As for now, the organised criminals lead by the coward managing director hiding behind this company is still milking the company whom he stolen. -- Purnama

Highlight: 

10 Jun2016 : Protasco former Tun Daim nominated ED emerges in Reliance Pacific. Protasco next?

http://klse.i3investor.com/blogs/Purnama/98316.jsp

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