1) The largest individual shareholder (Dato Moshin and son) no longer hold have control of the board so they are offloading their interest.
2) The shareholders of seaoffshore capital (SOC) & borneo seaoffshore (BSO) combined now have majority interest which was done in a hostile manner.
3) SOC/BSO now have control of the board. Dato Moshin and Joel Heaney are being removed and replaced with former Petronas industry people aligned with the interest of SOC/BSO.
4) The appointment of Sunildeep Singh Dhaliwal as the group MD proves point 3.
5) For those who do not know of Sunildeep Singh Dhaliwal, he turned Sabah Air from a company that bled money into a profitable business before starting BSO which went from a turnover of RM 0 to RM 100M within 4/5 years.
Stock: [HANDAL]: HANDAL ENERGY BERHAD
2019-11-19 09:17 | Report Abuse
The way I read the situation
1) The largest individual shareholder (Dato Moshin and son) no longer hold have control of the board so they are offloading their interest.
2) The shareholders of seaoffshore capital (SOC) & borneo seaoffshore (BSO) combined now have majority interest which was done in a hostile manner.
3) SOC/BSO now have control of the board.
Dato Moshin and Joel Heaney are being removed and replaced with former Petronas industry people aligned with the interest of SOC/BSO.
4) The appointment of Sunildeep Singh Dhaliwal as the group MD proves point 3.
5) For those who do not know of Sunildeep Singh Dhaliwal, he turned Sabah Air from a company that bled money into a profitable business before starting BSO which went from a turnover of RM 0 to RM 100M within 4/5 years.