If Mr Lin wants to cheat before suspension, he would have sold all at whatever prices available in the last few days before suspension. I noticed there were many investors waiting to buy at 3 sen down to 1.5 sen but it seems no desperate sellers. In fact, the price at closed went up to 3.5 sen. Investor like me quickly grabbed all the half sen warrants knowing that the warrant price will not dropped anymore (as half sen is the minimum price in KLSE) but yet I see there are no sellers left at half sen. That was why the warrant went up to 1 sen at closing time. Buying warrants at half sen is a gamble only as the risk is minimal and gain is tremendous if Mr Lin is not a conman. (Reminder : The risk of buying warrants is - if Mr Lin really cheats, the mother shares if (only if) never have the chance to go up and the warrants will be dead upon expiry in 2017).

I also felt that Mr Lin could be a very calculative and an egoistic person and that was why he gave dividends but only in the form of warrants ( 1 share for 1 warrant in 2015 with 18 sen as a must to pay if convert to mother share ). He thought that giving away warrants was a dividend to all the shareholders as the mother share was worth RM1.11 a share at that time. Subsequently, he also provided ESOS to his staff at 11 sen a share because the warrants were priced at 18 sen. But the staff did not take up these ESOS as the market price at that time was 9 sen so he was forced to buy up the ESOS himself at 11 sen. (What a BIG BIG personal sacrifice from Mr Lin?). After taking up those ESOS himself (maybe through Bank borrowings), he has to pay the short term loan back to his bank. So he was forced to sell his 20 Million shares at 6 sen market price immediately 2 months after taking up all the ESOS. By this action of selling his shares at 6 sen in fact created another great wave of selling by other investors thus making the share prices down and down to 3 sen. ( My opinion : Mr Paramjit and Erwin could be his personal proxy thus buying up so many shares at that time).

(Again my opinion).The other reason why the accounts cannot be ready is his personal strategy to push the shares down the most so that he can accumulate back at a low low price. The 2 internal audit committee members resignation could also be a show to enhance his strategy. Now his strategy is achieved and the stock is now suspended. Remarks : Late buyers of Msports would be happy but earlier buyers who bought high all curses him like hell.

Well. Life is like that. If you use your brain, you can make a lot of money. So I bought into Msports at the last minute could be one of the happy lot. I personally run through Msports audited accounts and I found no suspicion at all. Only the greed, stingyness and pride of Mr Lin make him react as such. The next move for him after suspension could be to take the company private, to buy back the shares in the market by using his company's huge reserves and cash or to ask Mr Paramjit and Erwin to announce a General Offer (Take Over Offer ) of say 30 sen a share for Msports shares and 12 sen a unit for Msports warrants. This price is now equivalent to the current Taiwan Share Market average prices.

1. Doing up the accounts and submitting to SC and SSM is not difficult to so.
2.Taking the company private is also not difficult thing to do.
3. Once Mr Lin decided the above, Msports will fly like nobody business.

I can dream and hope my dream does come true. Blessings to all of you. Happy Investing and Take Care yourself. The above is just my OPINION only. Don't be so serious, OK.

Thank you for reading. Blessings to All.

Keep this stock for long term. Good counter.

Thanks. Following your comments. Keep this stock for long term.

Normally a scam company should has very high Creditors and Very Very High Debtors and Inventory. But in Msports case, inventory is only 7 Millions.
If a scam company wants to cheat, they can hardly has the chance to use Bank Funds to cheat as Bank Funds are supported by International Bankers with Bank Statements and Bank Confirmations needed by the Auditors.
Normally, public listed companies would cheat by using a high Stock Figure, High Debtors and Creditors. But in Msports, these suspicious figures are not present at all. Food for thoughts.

Correction : Creditors only owing RM36 Millions, not 40 Millions.

AS at 31-12-2015, they have RM328 Millions in the bank. Owing to Creditors only 40 Millions while 114 Millions still owing from Debtors. This is a very healthy company. Why their boss sold his 20 Millions shares in Feb 2016 and why Mr Lin refuses to pay dividend at all looks awful. But by looking in their audited accounts, everything seems perfect. ???

From my Accounting experience, if a group has no money in the bank, probably the amount due to Creditors should be high and the Debtors also very high. But in Msports case, Creditors are low and Debtors also the same. Only the Bank Funds are very high and yet Mr Lin does not want to declare dividends. This is really funny too.

Yes. See how Msports fares in 2 months time. If good news, Msports fly high. We all laughing to the bank. If no good, all money invested in Msports gone. Cheated as another Lesson learned. In my opinion, 75% good, 25% no good. Good because I believe in their Audited Account is genuine and Msports is a rich company. Bad because Msports cheated us and the whole world and produced a Fake Audited Accounts all along. The second one can land many people in jail....includes The MD, Directors and External Auditors. See how it goes.

WOW.....Going stronger by end of the day. Tomorrow announcement maybe Good. Msports ended 0.005 sen up and Warrant also 0.005 sen up. No last minute throwing in a large scale. Bravo Msports. Huat Huat Huat.....once open counter tomorrow or close for 6 months.

The above Company has failed to submit its Annual Report that includes the
annual audited financial statements together with the auditors' and directors'
reports in respect of the financial year ended 31 December 2015 ("AR 2015") to
Bursa Malaysia Securities Berhad ("Bursa Securities") for public release within
the stipulated timeframe i.e. 30 April 2016, pursuant to paragraph 9.23(1) of
Bursa Securities' Main Market Listing Requirements ("LR"). Pursuant to
Paragraph 9.28(5) of the LR, if a listed issuer fails to issue the outstanding
financial statements within 5 market days after the expiry of the relevant
timeframes stated in Paragraph 9.23(1) of the LR ("Relevant Timeframes") (the
last day of the 5 market days is referred to as "Suspension Deadline"), in
addition to any enforcement action that Bursa Securities may take, Bursa
Securities shall suspend the trading in the securities of such listed issuer.
The suspension shall be effected on the next market day after the Suspension
Deadline. In view of the above and in the event that MSPORTS is unable to
submit the outstanding AR 2015 on or before 9 May 2016, the trading in the
above Company's securities will be suspended with effect from 9.00 am, Tuesday,
10 May 2016 until further notice. Pursuant to Paragraph 9.28(6) of the LR, if a
listed issuer fails to issue the outstanding financial statements within 6
months from the expiry of the relevant timeframes, in addition to any
enforcement action that Bursa Securities may take; de-listing procedures shall
be commenced against such listed issuer.
VP, Listed Issuers
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

Msports to Close shop effective tomorrow until further notice unless AR2015 is submitted today.

Half sen all gone. Going back to 1 sen soon.

Taiwan Msports dropped 45% mainly influenced by the Malaysians' reaction towards Msports in these 2 years. If Malaysia Msports did not dropped so low, Taiwan Msports would be steady there. Malaysians all along are very shy of Chinese Stocks maybe many got conned by them before. But with the substantial inflows of investments from China recently into 1MDB, Iskandar Johore, Malacca and many other places in Malaysia, I am sure Chinese Stocks will pick up sooner or later. Buying Msports for 3 sen a share is a very big margin of safety when the stock actually worth RM1.11 a share. Even the bonus warrants are priced at RM0.18 a warrant if you want to convert to mother share. I just pray one day this Msports shares will fly once people realise the amount of funds are real, businesses are real and assets are real. To me, I have full faith in Msports accounts unless their accounts are fake all the while.

What desperate? All are audited and printed in Msports Audited Report. If you don't believe in audited financial reports published by public listed companies, then you might as well don't believe in Share Market at all. Why talk about shares?

Another possiblilty is what TAH says, Takeover offer. I concur with TAH too.

Exactly. Luckily we have Taiwan market to tell us they are buying at MR0.30. Despite Taiwan market optimism, unfortunately, Purebear, OptimusPrime and all those sceptics are still fearing and throwing this counter at 3 sen. What's a free gift to us. We may not laugh now but if we hold the shares longer, our gains may come back in multiple times. I strongly feel Msports is going private soon and going private is so easy to do. Once privatised, Msports shareholders are all laughing all the way to the bank because Msports have to use their money to buy back all the Malaysian shares at a much higher price.....not 3 sen but 30 sen at least if they decide to follow the Taiwan's price.

The one who want to push the price down sold only 300 shares at 2.5 sen? Hahaha......Who would want to do that. If Mr Lin wants to do that, he better buy back all the open market shares now because people are accumulating Msports and wait for delisting in the Malaysian Market.

We have big big lawyer Paramjit Singh Gill as our supporter, still Malaysians scare like Kucing....meow meow...

If money missing, Gill Singh will sue Msports for us. We Malaysians mah.

One Ringgit equals 8.08 Taiwan Dollars. Therefore 2.40 Taiwan Dollars equals RM0.29 or 29sen. today

http://www.bloomberg.com/quote/911626:TT
The effect is because of Malaysian reactions towards this counter. But Taiwan still strong at 2.40 per Msports share.

I said buy, sure buy one. Opportunity like this only Malaysia can find. You go buy in Taiwan, you cannot get this price at 3 sen. Once owner got very very angry, this counter close for privatisation, buyers all Huat lah. 3 sen don't buy, want to wait for 10sen to buy meh?

Leno. No worry. Company very rich. Only the owner is of funny character. Internal auditors cannot tahan, they can resign lah. Afterall the 2 inetrnal auditors are young graduates cannot tahan owner's pressure. I buy another 500,000 lah. Buy and keep for privatisation. Sure WIN one.

Investors who have bought earlier and waited all the way down to 3.5 sen may have cursed him like they cursed the shares but if you invest now at this point of time ( Msports at 3.5 sen and Warrants at 0.5 sen where the risk is so small ), the gain is tremendous. Unless, I also kena conned by their accounting books myself. This I have to give up. But I am prepared to lose a bit for the sake of making a big jackpot. Buy Msports at your own risk now.

TAH is correct. The risk is very very low at this point of time. The gain is fantastically high if we have the same trust and faith like Paramjit and Erwin. Company's accounts are audited every year by International Auditors in Spore. If the Funds inside Msports are fake, they would have resigned long ago. The recent resignations by both members in the Audit Committee really cause some concerns. The recent actions by Mr Lin may be awkward by paying ESOS at 11sen and selling at 5 sen, showed Mr Lin's instability. Nobody on earth would throw away money just like that.(unless insane or too sane to donate generously to his buying supporters). Maybe Mr Lin is already old and wished to give away his money due to reasons only known to him. OR maybe he has planned to delist his Msports soon and programmed it in such a way to compress the shares so low by doing married deals and at the same time, programmed to benefit those whom supported him or listened to him. Who knows, Mr Paramjit or Erwin may be his proxies, we don't know. This is only my 2 sen piece of opinion. With the huge pile of cash and reserves in the company, Msports can go private anytime. Mr Lin must have a legal and financial group of advisers under him, Right?

What is their logic of Par Value Reduction from USD0.05 to USD0.025 in Aug 2015? To make the capital looks smaller and the reserves look higher. No logic lah?

Exercise of Employees' Share Option Scheme (" ESOS")

On 19 October2015, 77,625,000 units of ESOS were granted to eligible employees of the Group. Accordingly, employees benefits associated with granf of ESOS, RMB5,211,994 were charged to profit or loss in accordance with the requirement of IFRS 2 Share Based Payment.
On 16 of November 2015, the board announced that 77,622,000 units of ESOS were exercised resulting 77,622,000 units of new shares being issued at the price of RM0.11 per share with the listing date on 17 November 2015. The total proceeds raised from the exercise of ESOS amounted to RMB12,681,751.
On 25 August 2015, the board announced that the Par Value Reduction ro USD0.025 per share takes effect on 24 August 2015

Ya, Something very wrong somewhere. Both Malaysian Audit members resigned a sign of bad thing happening. Sell, sell, sell.

THIS IS THE STOCK I AM EYEING TOO. NTA 66 sen per share. Now Selling 11 sen.
Total Buy Vol.
50,200
Market Avg Price
0.11500
Total Sell Vol.
61,800
Buy Rate
44.82 %
High Price
0.115
P/E Ratio
0.0000
Low Price
0.115
EPS
0.000
Volume
112,000
NTA
0.663

BUY AS MUCH AS YOU PROBABLY CAN. SURE WIN.

Total Buy Vol.
16,669,400
Market Avg Price
0.09708
Total Sell Vol.
2,748,700
Buy Rate
85.84 %
High Price
0.100
P/E Ratio
0.0000
Low Price
0.095
EPS
0.000
Volume
19,418,100
NTA
0.160
Value
1,885,178

Stockqueen, I love you. Beststock supports you all the way.

PBB comments not so good above. Target price 40 sen, now above 60 sen. PBB reports are so lousy. Got to throw them into HHH group for recycling.

Looks attractive last 2 weeks. Now taking a breather. How high should it goes?

Interesting writeup by someone on 24/3/2016. Good. Company got a lot of cash but payment to the vendors seem slow and unattractive.

persie, you are correct. Directors buy directors sell. When I bought 500K , I saw no body sell. Almost zero seller. Suddenly, today I see so many sellers at 0.095. I will accumulate more if it goes to 8sen or less.

IT'S TRUE THAT YOU BUY, DIRECTORS SELL. THEY SELL SO THAT THEY CAN GET THE MONEY TO BUY IN LATER. BUT THE BIG NUMBER OF SHARES (13.3M SHARES )TRANSACTED IN 22-MAR SHOWS AN INTEREST OR A WAVE. YESTERDAY WAS THE 2ND WAVE WITH 16.8 M SHARES TRADED. PROBABLY GOOD NEWS IS COMING IN THEIR ANNOUNCEMENT NEXT WEEK OR NEXT MONTH. I WOULD BUY MORE IF THE SHARE PRICES DROP TO 8.5-9.0 SEN. EASY TO ENTER THE TOP 30 AS darkxfs SAYS. I HAVE HIGH HOPE FOR THIS COUNTER AS THIS IS A GREEN COUNTER MEANING GREEN IN THEIR PRODUCTION AS WELL AS GREEN IN THE INDUSTRY. FURTHERMORE, ALL THIRD WORLD COUNTRIES ARE ENCOURAGING THIS TYPE OF INDUSTRY WHICH HELPS THE ENVIRONMENT OF THE EARTH TO BE CLEANER AND HEALTHIER FOR PEOPLE TO LIVE IN. THE PRODUCTS PRODUCED BY THIS INDUSTRY ARE ALSO EASILY MARKETABLE TO THE GLOBE ( EVERY CORNERS OF THE WORLD ) IF THE UNITED NATIONS ENDORSE THE PRODUCTS. ON THE BUYING SIDE, PURCHASING OF RAW MATERIALS ARE NEVER ENDING AND EASILY OBTAINABLE FROM THE GARBAGE OR OIL COLLECTORS. BUYING PRICES OF RAW MATERIALS ARE ALSO SUBJECT TO DEMAND BY THIS INDUSTRY AS THE PRICES ARE NOT CONTROLLED BY ANY OUTSIDERS. THE INDUSTRY CONTROLS THE PURCHASING PRICE WHEREAS THE SELLING PRICES (MAYBE BE SUBJECT TO OIL & GAS PRICES OF THE WORLD) ARE STILL COMPETITIVE AND CAN BE LOWER THAN THE MARKET PRICES BECAUSE THE PRODUCTS CAME FROM RECYCLING OF GARBAGE.

TODAY'S VOLUME OVER 16 MILLIONS. WHO IS BUYING AND WHO IS SELLING?

BOUGHT 500,000 SHARES TODAY AT 9.5 SEN.

I am keeping this shares and looking forward for Mr Tai to propose a Bonus Issue for Masteel.

If only Masteel directors have the guts to sue them too.

F### the old Auditors. If not because of them giving scary tales about Masteel Debtors, Masteel shares won't drop so much. If I were Masteel, I would sue them for damages to the shares. How can an auditors said that all Masteel Debtors 385 Mil. are not recoverable.??? They must be something very wrong with the Auditors. Hope MIA will take action against them for stock manupulations.

That's why I suggest Masteel stop business for a while and think changing to other investments like Properties and Developments or others. Steel Manufacturing in Malaysia is doomed. Wages , Energy and Production Costs are getting higher and higher. We cannot compete with Indonesia where productions there is much cheaper. Time to revalue their assets and go into developments.

How is today's AGM going on?

ggg123, according to MITI report dated 30 Jan 2015, the imports of steel bars from China and Korea has no impact to the local players because they found that our export prices are still higher than the import prices. But maybe our export prices cannot go any higher due to the import prices.

As regards to 2 July 2015 that 5% duty on carbon steel and wire rods, this definately helps Masteel as their products of deformed steel bars do have carbon content which categorised as carbon steel bars too.

Overall, imports of raw materials that uses USD has greatly effected all importers negatively recently and the cheap steel dumping by China compresses the steel prices to so low that profitabillty is hard to maintain for local steel manufacturers. Looks like Masteel need to perservere for a while in view of the doomed economy all the steel industry is now facing.

Creative Accounting? Think Masteel need more to jack up the networth by doing a revaluation exercise on all their landed properties.

Steel manufacturers in China are also selling at a loss. Why Chinese Steel manufacturers are selling so cheap? They should know better. Too many supplies over demands. They should stop production but they can't.

ggg123, you are right on the dot. This local steel industry is doomed if the govt is not doing anything to help to stop the import of steel bars. The best steel player agmonst in Malaysia is now affected and no wonder ppl are asking to change the govt. Masteel investors are suffering huge losses in their warrants come Oct 2015 expiry date. Who is not angry? Not only the poor are angry but the rich too are angry. If the govt still hesitant in impossing restrictive imports, Masteel must take restructive measures instead of expanding. It is time to close shop now and take stock. The price would be better for the investors.

The market price of Masteel can easily fly if the company decides today to do a Revaluation Report for their landed properties. With regards to the Debtors figure, the old Auditors must be "of something wrong" to say all 380 Millions debtors figure is ambigious and not collectable. The newly appointed auditors say all the debts were already collected after the third months except 2 customers. This is very normal for a business going concerns. The drop in Masteel price is now very much under-valued and I envisage it will easily go back to above RM1-00 barring all consequences. For a sure win stock which we all can keep, Masteel is the one. Opportunity like this seldom appear. Only once in a while we have this kind of opportunity. Of course, the current low price is controlled by the bad image of the steel sector all over the world now. Keep this Masteel for a longer period, your returns should be double or triple with confidence.

Yes, I concur with kakijudi. If Masteel is recovering, it is going to be quick in order to save back so many going to expire Warrants. Those Masteel bosses holding warrants would not want to see their warrants die so they have to do something fast.