so at 0.20/pc? like RM800k?

they been selling the iris shares for years- how much they actually have left? lol

lol didn't they just announce sell all the iris shares?

captain star- buying and selling in 0.20s so made some small money - but didn't catch the jump

Yes NSK grocery has not been injected into the listed vehicle. I wonder why? The bad news is that this business model looks broken since their gross profit is pretty low and their costs look very high.

Good news is that they must have good reason to keep the share prices at a certain level. Maybe their shares being pledged to the bank for loans? Only problem is when these guys goreng punters never get the benefit of the information beforehand. Don't forget the previous know nothing management did goreng the share to 1.50+ range at one point. But happened too fast and only ppl in the know benefited, So how lucky do you feel?

NSK has been 100% in control of the company after getting rid of the Tony Lee and his incompetent management team 2 years ago. Check out all the meeting minutes where the old management was voted out in mid 2018. In their recent prospectus, they even successfully sued Tony Lee company (Superior Smartech) for some wrong doings during his time in charge.

But look at the current results since they have taken over. You can attribute the losses in the first 2 quarters of 2019 to Tony Lee (-7.5m) but since then its an additional -26m in losses. Currently they are suing one of the major glove manufacturers (WRP) which have been with them for many many years. What the point of having many glove manufacturers as clients but still lose like crazy?

Lol sftong2000. i wonder why everyone is so happy with the results. Yes this counter has been doing medical and glove business for many years.

And looking at the latest quarter results- close to 10m loss in 3 MONTHS even with these customers. NSK took over at least 2 years ago and I believe its been losses all the way as well.

this counter has been in NSK control for 2 years now. They were already doing rubber glove business from before when they were losing every quarter. On top of that a few of the rubber glove companies they do business with have not paid them or gone bankrupt. WRP for example is being sued by them for 1.3m unpaid? The big question is why NSK haven't injected their business in already? Lots of people have been burned on this counter many times - just check back comments here and see. Buy at your own risk

Another loss... and long serving auditors Baker Tilly leaving. Starting to sounds a bit like 1MDB?

Wow - haven't come back for so long and this account has gone from bad to worst. Results horrible and they still can't find where the money that was supposedly 'stolen'? How is this possible? Did the former MD and finance guy take out 3m in cash and put into garbage bags? Lol!

I also see Ngew See Ng forced to resign from the company a second time. First time was because of corruption and they can still hire him one more time?! Good luck whoever want to invest here.

Another quarterly loss declared and share at 0.47 now. Wonder if the people pushing to buy before have anything to say?

As firebaby said before - this company is controlled by unscrupulous people who are more interested in playing with share prices than doing actual business. They will play up the shares or let it drop but only for their own benefit.

Its likely that those people asking you to buy this share are working with them to boost the share price. So let anyone buying this share beware.

The shares being controlled by big players. If you're a punter don't touch this stock with a ten foot pole.

http://www.theedgemarkets.com/article/new-blood-versatile-creative

Pretty much sums it up.

Looks like NSK performing a successful hostile takeover of this counter. But 2nd quarter performance not much different from first with another 4m loss. Now NSK needs to remove all the old management of this company who are obviously working with the current owners to cheat shareholders.

Looking at old records, this company performance has been horrible since Tony Lee Kwee Hiang took over. Also I agree with OldOldHorse definitely more bad news will come once new owners start digging. Good luck!

Also a lot of financial irregularities stemming from MD and CFO accused of making unauthorized payments to unknown people to the tune of RM2.3m.

loneranger54 also said a lot of korean drama happening there with people getting arrested. If you're a shareholder of this company, might be good to go for the upcoming EGM to ask what the hell is going on there. At the very least get a good meal out of it.

Looks like the counter suspended. Lim Tek Wai: I hope you managed to buy enough shares to help some of the small share holders to escape.

I don't think there are many small share holders for this company anymore. Vast majority owned by either Wong people,Tony people or NSK. Also I believe that a lot of bank money has been borrowed to fund the purchase of these shares. These guys will have to find a way to keep the share prices at a certain level otherwise the banks will come knocking on their doors to collect money.

They just buying time to look for new 'partners' to take over this lemon.

Drop nearly 10% in one day. Look like internal people know what going to happen soon. I hope firebaby and the others managed to sell before the PN17 happens.

One month they still cannot come out with result of forensic audit? Can trust the results they been publishing last few years? BOD been selling their shares during closed period for months? This should be a serious case of insider trading but this Tony and Wong guy going to get away scot free? This is why dangerous to buy shares of Malaysian companies especially those in control by people with such bad track records.

Wah like Korean drama. I see that Andy Yap has also resigned for 'personal reasons'. When even new finance people start selling their shares and running away you know that big trouble coming.

https://www.thestar.com.my/business/business-news/2016/08/30/wong-now-substantial-shareholder-in-versatile-creative/

From what I understand this Andy Yap Jee Wye guy came in as an associate of Dato Wong, the guy being accused of misconduct. Now he is made the interim CFO?

Then its announced that he disposed 800k shares on 29th? This all stinks to high heaven. The way all the directors have been selling off their shares... (shakes head).

Old Horse- Wow. Didn't know things were that bad. Everyone better run from this account now.

Looks like a new player coming in to try their luck at this failing business. Or maybe they just want the Ampang land that they are on? Got to make the price good for the new shares that they issuing. Buyer beware!

Price going up! Sell sell sell!

Got caught on this counter. Bought at 0.13

Looks like the new owners also been selling off their shares too. I wonder why they seem to be doing a lot of their selling during the closed period. They must know something that smaller shareholders have no clue about. Why doesn't bursa do anything to protect the small shareholders? This kind of thing shouldn't be happening on a consistent basis.

got caught in this counter too. :-(

Guys, don't be fooled by this account. The chairman Tony put his brother-in-law and daughter to handle some units of this company and they screwed up so badly that those units are now virtually insolvent. That tony fella is also reportedly one of the main reasons why the Iris company lost so much money the last few years.

Oldoldhorse- you are right about the new owners. Check out their Oriental Mace and Fellazo Corp companies. I think you will find that these guys look very dodgy and they seem to be in a habit of announcing stuff in the market that never come to fruition.