in Malaysia, a lot of companies are listed and share prices are supported by left hand right hand profits from epcc work on their own projects/ fixed assets ...................... who to blame? surely the authorities is part of the problem.
the authorities have not been doing their job, the minority shareholders watch dog ngo have not been doing their job, the media have not bee doing their job. Its a gray area and nobody wants to touch it
personally, I don't see a solution.............the authorities , the issuing house, the KlSE, the SC , the auditors are all invested into the scam already .
if the unity government is serious about protecting investors, protecting minority share holders, protecting the small people.......................................... then the authorities need to offer better guidelines to this practise ...and this is a wide spread practise in Malaysia not just limited to cypark.
when there are loopholes in the guidelines/ laws, people will exploit it, and what better way to generate profits than left hand right hand profits ? there is no willing buyer willing sellers basis .......the buyer and seller is the same party and just want to show big profits from the word Go. ................................................ it is fertile ground for cheating, for frauds, for profits manipulation and share market manipulations.
Yesterday one Eagle Group cutloss kgb wb and suffered a loss of 50%
Fortunately his good dividends from bplant, hs plant, Tsh, Taann, Fgv, jtiasa cushioned his losses from following SEE Research buy the rubbish overvalued kgb wb
SEE Research was banned by Eagle group admin Ms Wendy for misbehavior
Last week 2 directors of Revenue were banned for wrong doings
They brought 4 thugs and barged in to steal 30 boxes of documents by criminal force
This SEE Research acts like cyber thug bull doze his way everywhere and cry father cry mother after being banned for wrong doings
Yesterday one Eagle Group cutloss kgb wb and suffered a loss of 50%
Fortunately his good dividends from bplant, hs plant, Tsh, Taann, Fgv, jtiasa cushioned his losses from following SEE Research buy the rubbish overvalued kgb wb
SEE Research was banned by Eagle group admin Ms Wendy for misbehavior
Last week 2 directors of Revenue were banned for wrong doings
They brought 4 thugs and barged in to steal 30 boxes of documents by criminal force
This SEE Research acts like cyber thug bull doze his way everywhere and cry father cry mother after being banned for wrong doings
Yesterday one Eagle Group cutloss kgb wb and suffered a loss of 50%
Fortunately his good dividends from bplant, hs plant, Tsh, Taann, Fgv, jtiasa cushioned his losses from following SEE Research buy the rubbish overvalued kgb wb
SEE Research was banned by Eagle group admin Ms Wendy for misbehavior
Last week 2 directors of Revenue were banned for wrong doings
They brought 4 thugs and barged in to steal 30 boxes of documents by criminal force
This SEE Research acts like cyber thug bull doze his way everywhere and cry father cry mother after being banned for wrong doings
whether it is building a house, a road or an IPP, the proper way to prepare the accounts is to show profits only when there is real third party transactions in rental income , sales, tolls, electricity tariffs.......................... but in stock market in malaysia, profits can be generated from the word Go and while the asset is still being build. .............. and this is the guidelines/ laws of Malaysia now.
calvin tan................I am a trader.................good ,bad ugly also I can trade............................I trade to make money not for any other purpose.
calvin..................................................this i3 is a very funny place.........everyone here is a trader.................why look down on traders? u think your plantations did well meh? u think buy and hold plantations in 2022 did well meh?
AGM is design specifically for CEO to bull.shit / sweet talk about his company...want to attend AGM, better for laymen to attend AGM of good quality companies not AGM of doubtful quality companies.
CCC. By 31 October 2019 , barely another 42 days later __ on 31 October 2019 Scomies / 7045 first triggered the PN 17 classification , after its shareholders ' equity on a consolidated basis fell below 50 % of its issued share capital as at June 30 , 2019
as issued by the report of The Edge as per below for quick reference .
Scomi Energy’s PN17 status confirmed, Scomi Group gets letter of demand over RM42m loan Syahirah Syed Jaafar / theedgemarkets.com
January 21, 2020 20:38 pm +08
KUALA LUMPUR (Jan 21): Scomi Energy Services Bhd’s / 7045 Practice Note 17 (PN17) status is confirmed,
after its waiver application was rejected by Bursa Malaysia .
In a statement today, Bursa said Scomi Energy / 7045 joins its parent company
Scomi Group Bhd on the list, and is the 24th company on the bourse to be listed as PN17.
Scomi Energy / 7045 first triggered the PN17 status on Oct 31, 2019
DDD. In the context of the first outlay of RM 115, 000.00 for 1, 000 lots will automatically shrink to current available lots from 5 lots share consolidation exercise in becoming 1 lot as per explained below
Consolidation of every 5 existing ordinary shares in
Scomi Energy Services Bhd ("SESB") into 1 ordinary share ("Share Consolidation")
Ex-Date 27 Feb 2020
Entitlement date 28 Feb 2020
Entitlement time 5:00 PM
Financial Year End
Share transfer book & register of members will be to close from (both dates inclusive) for the purpose of determining the entitlement a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers 28 Feb 2020
Sadly, if the auditor had stood up to it when the project delay and cost overrun became obvious years ago, this snowball wouldn’t get to this large and the eventual damage to the capital market could be more manageable
------
Auditor, especially those outside the big 4 not doing their job
But it is not just auditor at fault....this practise is very common in Malaysia because the money and hence incentive to cheat is too large in an environment that is conducive to cheating
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
brightsmart
3,784 posts
Posted by brightsmart > 2023-01-07 10:34 | Report Abuse
sslee wants to be activist.......................then sslee should take up this case.