why the hell is this stock not dropping today!?

Adam, what's your source?

If it doesn't climb today and it drops tomorrow, then I would've made a big mistake getting into this counter

This.. is the most beautiful counter I've encountered in such a long time.
I bet you, if Warren Buffet knew about this co in his earlier days, he would've bought over the whole thing if he could.

This RM900m can seem fake. However, the audited accounts have already been signed and as an auditor myself, I know that cash & bank balances is the last place that fraud occurs. Its too high profile and too obvious.

As a fundamentalist I believe that these are the few reasons:
1. Weak investor confidence. The IR for this company is relatively poor.
2. Dividends do not justify the amount of cash that the Company possess.
3. What are they doing with their Rm900m cash pile? Why isn't there any interest income if the cash is in the bank earning 0.5% PA?
4. The Company is in China.
5. The Company is not exercising any share buybacks despite the bargain
6. Investors going in are cutting losses at every price drop causing further price falls
7. No reliable investor analyst covering this stock
8. Why is the Company borrowing money 50mil RMB and paying interest expense when it has 1.8bil RMB in the bank?

As a conclusion:
Technical investors are selling because all the selling indicators are present.
Fundamentalists are not buying heavily because there are many uncertainties and unanswered questions despite the numbers of the company looking rock solid.

I wanted to accumulate this counter when it was 75c/share...

What..the..hell is going on..

Just wondering, why do you say that he isn't practising christian principles to his business?

All the suspense surrounding this WA! When to go in!?

Seriously klcoh, the reason why a PE firm cannot buy over this company is because the majority shareholder is not some investment bank that is only interested in the short term share price of the stock. It wouldn't sell to the PE firm at it's current price

The litigation issue of RM7m has been around for a long time. Does anyone think that this is a significant event given the circumstances?

Yes.