Sslee blog

Forewarn to be forearmed my fellow i3 bloggers

Sslee
Publish date: Wed, 30 Sep 2020, 08:44 AM
Sslee
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This is my blog

Dear fellow i3 commentators and bloggers,

I did not expect this turn of event but since it had happen, I would like to forewarn to be forearmed those fall into category of unlicensed advisors please protect your blog sharing with disclaimer:

I feel obliged and take responsible to disclose my email exchange in full.

Dear Mr. Lee,
 
In regards to the AGM, the Key Matters Discussed/Q&A have already been uploaded to our website.
 
We have responded to you via Email on 17 September 2020 in regards to your pre-submitted AGM questions. To re-iterate, the company will not respond to matters which are confidential, price sensitive, irrelevant, beyond the scope of shareholder communication, and which the company is not obligated to answer.
 
We also noted from your emails that you have made frequent reference to and left your own remarks/comments on the https://klse.i3investor.com/servlets/stk/4723.jsp forum based on our responses provided to you.
 
Upon our further checks on the said forum, we noted that certain selected parts of our responses have been uploaded and posted on to the forum. We are concern in reading the posts in the forum as these may lead to misinterpretation, misleading statements and confusion amongst the readers, as these responses may have been modified and/or selectively posted on the forum (some responses from the company which were selectively posted may potentially lead to other meanings/interpretations as compared to the message that the company is conveying in its original full responses). There seems to be no accountability and boundaries of what is said in the forum by certain parties, some perhaps with ulterior motives. As this forum is not regulated by any authorities , we are concern that this may lead to investors taking advice from unlicensed advisors and be subject to manipulation which may result in these investors losing money.   
 
As you have lodged a complaint with Bursa and the SC, we would also like to highlight this issue and urge the authorities to look into this matter.
 
Thank you.
 
Regards,
 
IR@JAKS

 

Dear IR@JAKS,

Thank you for informing me that the JAKS 18th AGM, the Key Matters Discussed/Q&A have already been uploaded to JAKS website.

By the way, I welcome SC and Bursa to look into my comments at https://klse.i3investor.com/servlets/stk/4723.jsp and judge whether am I selectively posted some responses from the company with potentially lead to other meanings/interpretations as compared to the message that the company is conveying in its original full response?

As of your insertion that there seems to be no accountability and boundaries of what is said in the forum by certain parties, some perhaps with ulterior motives. As this forum is not regulated by any authorities, we are concerned that this may lead to investors taking advice from unlicensed advisors and be subject to manipulation which may result in these investors losing money.

May I suggest if you are really concerned should you take action in policing the forum and report those unlicensed advisors to SC for action to be taken against them?  

Talking about regulation by authorities and accountability, as a minority shareholder I exercise shareholder’s right to hold the Board accountable and responsible for the running of our company and posted my legitimate/lawful AGM questions to the Board. But alas it was the Board with something to hide using reasons only known to them to avoid answering the hard/probing questions with unsubstantiated excuses:

Not all of your questions were adequately answered it is because those questions fall into either of the following reasons:-
  1. in answering the questions, it would not result in a fair and orderly dissemination of information to the market as required under the Bursa listing rules;
  2. confidential and/or price sensitive in nature;
  3. involves speculation or matters that cannot be ascertained accurately;
  4. beyond the scope of shareholder communication;
  5. Inappropriate, unreasonable, or irrelevant and hence the Company is not obligated to answer the question; or
  6. Inaccurate interpretation or misunderstanding of the facts and matters and hence does not warrant a response from the Company.
I attach the JAKS 18th AGM key matter discussed published at JAKS website and my questions submitted in advance for the upcoming JAKS 18th AGM. Please tell me which of my questions fall into your above reasons
 
Dear SC and Bursa,
I would like to make an official complaint on JAKS 18th AGM and EGM did not comply with SC Corporate Governance practices:
Non-complied 1: Did not forward the replies to my AGM questions once it is cleared by Management as promise by Company Secretary
Non-complied 2: Did not answers my submitted in advance questions for JAKS 18th AGM during the online AGM
Non-complied 3: Using their own rule and judgment that many of my questions fall into either of the following reasons to avoid answering my legitimate/lawful AGM questions
Non-complied 4: Send me a copy JAKS response to my EGM queries in full one day before the online EGM but did not read out my questions and Board response during the EGM Q&A session hence denial me the chance to communicate my dissenting view to the attending shareholders before voting on EGM resolution.
 
I refer:
Where SC and Bursa encourage shareholders to be prepared and participate effectively at an Annual General Meeting (AGM) with CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS.
Sadly in saying so, I have done what is possible of me as a minority shareholder following the checklist and trying to participate effectively and meaningfully at JAKS 18th AGM but to no avail.
Should SC and Bursa now come out with CORPORATE GOVERNANCE CHECKLIST FOR BOD so that BOD can participate effectively and transparently at AGM?
 
There seems to be no accountability and responsibility of what BOD with ulterior motive can do, hide or said during the AGM, previously with a copy of AGM minutes (luckily the Company Secretary did a wonderful job in writing down questions and answers from shareholders, the Board and external auditor during the AGM) I make complaint to BURSA and SC that BOD of CSL and Xingquan were lying thro’ their teeth with impunity at AGM with intention to cover up wrongdoing and fraud. I am thankful to SC and Bursa based on the AGM minutes call up the external auditor of CSL and Xingquan for questioning, the rest is history on what happens with CSL and Xingquan.
 
SC and Bursa are the regulatory authorities of the financial market and I am appealing to SC and Bursa to use this authority to compel the Board and external auditor of JAKS to answer in full my legitimate/lawful questions submitted in advance of AGM.
 
Thank you. Have a good day
 
Yours truly,
Lee Soon Sheng

 

Discussions
3 people like this. Showing 7 of 7 comments

Philip ( buy what you understand)

Fool me once shame on me. Fool me twice, shame on you. Jaks is really not acting in a manner that should befit a listed company.

2020-09-30 15:33

i3lurker

sslee

I dun know what you are trying to do.

If Electricity of Vietnam EVN terminates Jaks contract,
then Jaks will sue sslee for USD1.87 Billion plus Loss of Profits on the basis that you, sslee brought Jaks into disrepute and was a contributory party to Jaks loss of contract.

You better start gathering your evidence for your defense from this second onwards and or pray to Jesus, Allah, Dalai Lama, Hare Krisha, nearby temple, nearby graveyard, Highland Towers site, dead babies, ghosts, pontianaks etc etc

Guidelines are not Law
Only Auditors has a legal right to address shareholders.

Shareholders have no right to address other shareholders under law, only by invitation or pleasure of Directors, unless it is a relevant discussion pursuant to a duly filed resolution currently being voted on.

2020-10-24 22:12

i3lurker

sslee
///selected parts of our responses///

tsk tsk

you did censorship
and thats very bad

if you are a honest person

just post your scanned letter and Jaks email and or scanned letter without any censorship so that we can all see for ourselves

2020-10-25 20:16

Sslee

Dear I3lurker,
You can look into my blog post to read my email exchange with JAKS
https://klse.i3investor.com/blogs/Sslee_blog/blidx.jsp

2020-10-25 21:00

i3lurker

Post removed.Why?

2020-10-25 21:07

i3lurker

rather than spend your energy fighting Jaks
Please help out this group of people

link is at bottom of article

https://www.msn.com/en-my/entertainment/news/where-has-all-the-music-gone/ar-BB1amv3E?ocid=msedgntp

2020-10-25 23:47

Sslee

Good morning I3lurker,
I missed my children’s growing up and my wife’s companionship. I feel sorry that I need to spend so much of my lives on the treadmill of a work existence (work oversea) because I want my children to have a better life, education of their choice and need not go through the same hardship as I did.

I felt guilty and we suppose to have holiday in UK (during my daughter university break) and EU but alas the covid-19 spoiled the plan.
https://klse.i3investor.com/blogs/Sslee_blog/2019-04-09-story-h1477298078-The_Words_of_Dr_Clark_Be_ambitious_for_the_attainment_of_all_that_a_man.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2018-10-27-story-h1455373857-Market_sell_down_reaction_Everybody_needs_a_little_praise_The_Benefits_.jsp

2020-10-26 08:49

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