PearlWhite lose money until gila liao. If really no fraud, then release the SIR lah, why lie in Nov saying SIR is not completed but then go file court order to stop the release of SIR indirectly by Bursa?
Poor guy, have to create own news on behalf of Serbak. Must have sailang all his money into this counter. A lesson in greed you will lose everything if not careful.
I don't hold any SD shares and have never held any shares in this company, however I am following this story to see how it develops. I believe my following thoughts are unbiased.
Something that I do not understand is how this story has turned into such a fiasco. Going back to May when these issues first occurred, surely the most logical thing for the company to do if they could not come to an agreement with their auditors was to IMMEDIATELY request a Trading Halt from Bursa. The share price at that time was around Rm1.60, so surely one of the company's main obligations to their shareholders was to protect their investment.
However, what has occurred is a public slanging match which puts SD under much more scrutiny and a share price that has plummeted to 35 cents. That is hardly looking after their shareholders interests.
If the CEO and Board were in total support of their reported financials, then that would be the logical immediate action to take. I would see an immediate Trading Halt as the first HIGH PRIORITY course of action.
I managed a division of a publicly listed company overseas for nine years and was obviously involved in major audits during that period and I have no doubt whatsoever that if there was a major irregularity highlighted that couldn't be explained and resolved, the CEO of the company would have called for an immediate halt in the company shares. Thankfully that never had to be brought into action.
I'm not pointing the finger at anyone yet in this 7 month saga but something doesn't quite add up.
They did halt it, i think for 2 or 3 days after the did a briefing with the funds on why they are innocent.
the problem is karim and gang should have admitted their fraud instead of claiming conspiracy, BAU, and then they went on buying some again just to convince retailers everything is ok... and retailers went averaging down.
karim is for himself, he couldn't care who he hurts along the way, many retailers average down while the big boys sell. people put in their hard earn money and life savings so that karim can satisfy his ego. karma will bite him.
A boastful claim of accounts being transparent and in order but suing everyone who disagrees with their ' cooked ' books. Even a blind man can ' see ' through what's really cooking.
that could be when you go to a grave yard on a moonless night with a live chicken, a knife and an unmarked grave to ask evil spirits which share to buy.
InsiderShark what is home ily? 26/12/2021 9:04 AM
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