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SC warns investors over ‘pump and dump’ schemes (Bonescythe is WANTED)
KUALA LUMPUR: The Securities Commission Malaysia (SC) has warned investors over the increase use of blogs, forums and social media platforms to spread false and misleading information on certain companies in order to perpetrate ‘pump and dump’ schemes.
In a statement, the SC said perpetrators would accumulate shares at lower prices before posting positive sentiments about the companies, with the intention to spur interest in the shares in order to drive up its price.
“When unsuspecting investors buy the shares, it gives the perpetrators an opportunity to sell the shares they hold at a profit. Investors who have bought shares at the inflated price will suffer losses when the hype eases,” it said.
The SC and Bursa Malaysia have recently identified a blog ‘Bonescythe Stock Watch’ which was found to have published various articles that contain statements and forecasts that were misleading and deceptive, an offence under Section 178 of the Capital Markets and Services Act 2007 (CMSA).
Following SC’s intervention action, the blog has been removed.
“The SC advises investors to always exercise diligence and verify the legitimacy of information before making an investment decision. Investors are reminded to be cautious of the risk of fraud and when in doubt, to seek advice from persons who have been licensed by the SC,” the regulator said.
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Discussions
3 people like this. Showing 50 of 138 comments
Like that can sue stockraider or not?
Posted by bursagoinglong > Mar 21, 2018 11:44 PM | Report Abuse
The lesson here, for bloggers, is not to promise or forecast a statement that is misleading. If you want to state your opinion, make sure it is backed by credible facts.
Shit like, this company A will take over company B (without basis/false/misleading). Buy buy buy company B!
That stunt will land you in trouble with the law.
2018-03-21 23:45
In a statement today, SC said the commission and Bursa Malaysia recently identified a blog 'Bonescythe Stock Watch' that published various articles containing statements and forecasts that were misleading and deceptive, an offence under the Capital Markets and Services Act 2007.
any difference between this raider and Bonescythe?
2018-03-21 23:48
I APA TAKUT LEH ??
WARREN BUFFET PHILLIP 66 REFINERY INVESTMENT...I HENGYUAN REFINERY INVESTMENT PE 4X ALSO NO SCARED LOH....!!
THE WORLD BEST INVESTOR INVEST IN REFINERY PHILLIP 66 PE 22X...RAIDER FOLLOW INVEST IN HENGYUAN REFINERY PE 4X MAH...CANNOT BE WRONG LOH..!!
IF WRONG....WARREN BUFFET ALSO MUST BE WRONG LOH....!!
W.BUFFET WORLD BEST INVESTOR, CAN HE BE WRONG LEH ??
IMPOSSIBLE MAH......!!
THATS WHY TP RM 22.00 TO RM 42.00 LONG TERM NO ISSUE MAH...!!
SO HAVE CONFIDENT ON HENGYUAN LOH...!!
Posted by dragonslayer > Mar 21, 2018 11:00 PM | Report Abuse
Aoyo Tibet Monk..do youbknow..you too sweet talk about HY..not scare meh...wakakaka...kikiki
2018-03-21 23:48
the burden is to prove that the guy indeed knows his forecast is misleading. he is likely to say he does not know. on contrary, all forecasts are proven to be false anyway because nobody can predict the future. you want to prove in court all the big words above in paragraph 175, best of luck! you will be wasting time and money just on legal fee alone .. there is no merit or solid ground to charge the guy
2018-03-21 23:48
If it is officially announced that Company A will take over Company B for RM X per share, you wouldn't have a brush with the law if you deduce that the shares of Company B will increase, based on the offer by Company A.
2018-03-21 23:50
In a statement today, SC said the commission and Bursa Malaysia recently identified a blog 'Bonescythe Stock Watch' that published various articles containing statements and forecasts that were misleading and deceptive, an offence under the Capital Markets and Services Act 2007.
any difference between this raider and Bonescythe?
2018-03-21 23:50
LU DENGAR BAIK BAIK MAH....!!
LONG TERM HENGYUAN TOWARDS BLUECHIPS LOH....!!
1 TO 2 YRS TP RM 22.00 TO RM 42.00 MAH....!!
u promote & talk big on world champion hengyuan....nothing to worry mah....!!
1. EPS rm 3.03 even higher than Nestle Eps Rm 2.75.
2. Freecash flow Rm 4.00 per share better than nestle Rm 3.00.
3. PE 4.5x better than nestle 50x.
4. 3 yrs of latest positive consistent sustainable strong eps exceeding Rm 1.00.
5. Valuation of hengyuan refinery cheap compare to Petronas pengerang and Petron new propose refinery cost of investment mah!.
6. Crack spread still historical strong high & sustainable loh...!!
7. Sales increases loh....!!
So no worry mah....bcos backed up by fundamental mah...!!
People say share price don good up why leh ??
U ASKED WARREN BUFFET LOH...HE SAYS SHORT TERM SHARE PRICE VOTING MACHINE.....LONG TERM WEIGHING MACHINE MAH...!!
longterm hengyuan will perform if fundamental good mah...!!
BTW...W.BUFFET REFINERY INVESTMENT PHILLIP 66 PE 22X COMPARE TO HENGYUAN PE 4.5X LOH....!!
ALWAYS INVEST LONG TERM LOH...!!
HENGYUAN TOWARDS BLUECHIPS STATUS MAH....!!
BLUECHIPS PE 12X NOT EXCESSIVE MAH....!!
Posted by dragonslayer > Mar 21, 2018 09:54 PM | Report Abuse
Aiyo Tibet Monk..dun have pe12 for HY lah..PE 4.0 lah..wake uo..later kena tangkap masuk lokap...aiyoyo...kikiki
Posted by qqq3 > Mar 21, 2018 11:50 PM | Report Abuse
In a statement today, SC said the commission and Bursa Malaysia recently identified a blog 'Bonescythe Stock Watch' that published various articles containing statements and forecasts that were misleading and deceptive, an offence under the Capital Markets and Services Act 2007.
any difference between this raider and Bonescythe?
2018-03-21 23:53
Enforcement will be costly and do little to protect anyone. Just as things like pyramid scheme has survived hundred of years, losing money will continue be a norm in the stock market.
A better tool is between your ears - learn how to think for yourself, you will never fall for all these BS.
2018-03-22 06:11
Bonesythe did it crudely. Grandpine did it implicitly saying it helps generate multiplier time return in short span of time. Showing only his student winner, stimulating human greed. Both is in same category.
2018-03-22 06:20
some people should understand that when SC resorted to took down the blog..they could already have a concrete evidences that such pump and dump scheme has took place. Pump and dump is just not purely promoting positive sentiments on the targeted stocks. It involve the perpetrators collecting the shares before he posted such misleading articles and then once the share price gone up. He would then sell to the market to the fooled buyers. This are different to analyst or IBs where they only just published their research reports (TP) on their covered stocks. Theres no way the accumulate the same shares before they publish such reports as this will also can be consider pump and dump. And also for the one who said that EPF also dump..i think u r dumb cause they dont mislead people!!
2018-03-22 08:53
This comment sound like stockmanmy
qqq3 who is the coward deleting my posts?
22/03/2018 00:13
2018-03-22 09:49
3iii dont know worr..could be or not we never know. But based what has he published before on his blog..it looks like he is an analyst of which own method of analysis..no proper valuation methodology..just pure puzzle solving of different infos and then wallaa this is the target price. analyst
2018-03-22 10:23
Scenario three: Sell pricey stocks to punters
For this, I recall Patimas being played up before it was subsequently delisted.
2018-03-22 10:29
and investors should understand that stocks doesn't simply move up and down without any reason justifying such price movement. It could either someone collecting/selling because they perceived the share price is under/over value fundamental/technically, because of leakage of an inside info positive/negative, because of speculation arising from rumours (which are not mean to mislead) such as oil price are on the rise trajectory. If none of this cannot be find to justify the price rise..then there is high possibilities that the stock is being manipulated (i,e pump and dump or etc)..from my opinion
2018-03-22 10:31
3iii yeah i still remember patimas where peoples in the market receive msgs buy unknown number willing buy the shares at specific price
2018-03-22 10:33
>>>>Patimas (7042) ~ TP 30 cents - Malaysia's Biggest Investment Forum
www.investlah.com › ... › Bursa Malaysia › Equities › Patimas (7042) ~ TP 30 cents
Re: patimas. Demon promotes, INSIDER SELLS .... « Reply #1314 on: January 22, 2013, 05:19:33 PM ». Quote from: demonlsy on January 22, 2013, 05:07:35 PM. that's why i said, i don't mind how people "view" him but i know he has something for Patimas. This is a company with negative equity. Its revenues tanked and it ...<<<<
2018-03-22 11:18
Why you guys talk until like Bonescythe got arrested and charged? His blog got shut down only. I do agree with that action as that blog does give the impression that he has ulterior motives in writing
2018-03-22 12:11
They shouldn't shut down Bonescythe blog. That blog shut down quite awhile ago. I always go there for some comedy entertainment and laugh at the things written there. So sad that now one avenue lesser for entertainment.
2018-03-22 13:04
YEAH...HY RM42...COMING RIGHT UP..faster tell kyy to dump JAKS and buy back HY...OPPPS..HAVE i just committed a crime...argghhh..dont shut me down...
DISCLAIMER..BUY AT YOUR OWN RISK..IN STOCKS..THERE IS NOT CERTAINTY...ONLY CERTAINTY IS UNCERTAINTY....EVEN YOUR GF..WONT MANJA YOU EVERYDAY LIKE YOU EXPECT HER TO DO SO...
2018-03-22 13:22
SC is very useless. Only know how to talk and warn investors of this and that. If SC is so professional, why don't they go and find out whether is there anyone who is doing the "pump and dump".
My experience dealing and complaining to SC regarding China Automobile Parts Hold. Ltd 5229 CAP, the directors of this company had obviously breached the securities law, but SC has not take any actions against the directors of the company or to help investors who got conned by fake financial statements to recover their financial losses.
SC only know how to talk and show off their regulatory power but not doing anything.
BOLEH LAND!
2018-03-22 14:47
the difference between raider and Bonescythe is that Bonescythe had been more effective......
2018-03-22 15:02
This sohai sc , who pump and dump? Najix umnx black money private fund lar o0o
2018-03-22 22:27
Institutions the biggest shark in market,they are legitimate to do so.
Bone didnt do anything wrong, just he not obtain such licence.
Sharks are going to make their biggest move Prior Ge14... they have indeed.
Press down first prior ge14, pump after ge14.
Bilis buy back at much higher cost ... Thats how shark taking bilis as their fuel.
2018-03-22 23:04
Bone just unlucky ...
Syndicaye who goreng spg xox anzo aturmaju nwp jetsons no action taken....
Even share activity at extremely volatile like iwc malton ekovest SC not even date to investigate .... pui dia.
2018-03-22 23:09
Bone is just another sweet talk shark, don't try to beautify bone, Venfx.
2018-03-23 01:14
ven...the pump in pump and dump refers to the pumping of fake news and fake forecasts , not the pumping of money.
2018-03-23 01:36
Posted by KLCI King > Mar 23, 2018 01:14 AM | Report Abuse
Bone is just another sweet talk shark, don't try to beautify bone, Venfx
ME: I NEVER BOUGHT ANY OF THE BINE'S COUNTER, FOR WHAT U ACCUSSED ME OF BEUTIFYING BONE .... ???
I LOOK DOWN ON SC FOR THEIR VERY EFFORTLESSLY TO THE BIG GUN .
SIMPLE IS THAT , NOT HARD TO SEE MY POINTS.
BTW, I LIKE TO READ BONE ARTICLE, DOESNT MEAN I WILL BUY THEM.
2018-03-23 08:22
What is this, VenFx?
VenFx Bone didnt do anything wrong, just he not obtain such licence.
22/03/2018 23:04
2018-03-23 10:43
I never bought bone's recommendation too, too good to be true and never talk about downsides.
2018-03-23 10:43
It is difficult for the authorities or regulators to supervise and monitor every wrong doers (perceived or otherwise). However, it is not uncommon for a case or two to be prosecuted, to warn others who maybe thinking of doing the same.
2018-03-23 13:16
just watch out on the timeline..when the stock is accumulated, when the promoting begin and when the stock is dumping..
2018-03-23 15:11
Haha...SC only shut down bone recently? I already detect bone is a P&D scam years ago.
2018-03-24 18:44
SC is very useless.....
Not updating anything of their investigations against China based company like MSPORTS, XINGQUAN, CSL AND CAP, that conned many Malaysian investors hard earn money.
2018-04-03 21:20
I think Boner not willing to share his spoils, hence became the scapegoat to be advertised publicly! Once in a while somebody need to be the scapegoat to show that SC is doing its job, but I think it's the same old story where last time you hear some pasar malam stalls/shops are being raided by police for pirated CDs!
2021-01-10 20:22
Yeah, Boner was obvious your table to table pirated CDs seller! Just so convenient for SC to pick him! By the way, nowadays those pasar malam pirated CDs sellers not doing good! Since most can get their fix online for free!
2021-01-11 00:07
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Post removed.Why?
2018-03-21 23:45