Modus operandi of many loss making penny stocks 1. Directors fail in generating business profit 2. Show Multi year losses, multi quarter losses 3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition 4. Directors utilise most of the fund raised 5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue 6. Repeat step 1 to 5
MMAG HOLDINGS BERHAD ("MMAG" OR "THE COMPANY") SUSPENSION OF DIRECTORS
The Board of Directors (“Board”) of MMAG Holdings Berhad (“MMAG” or “the Company”) wishes to announce that the Board had on 19 February 2023, received a letter from M Jets International Sdn Bhd ("MJets") stating that the Malaysian Anti-Corruption Commission ("MACC") has raided the office of MJets on 13 February 2023 for information and documents pertaining to a report made to MACC. It was stated in the letter that due to MACC's investigation, MJets' bank accounts have been frozen.
MJets is an 80% owned subsidiary of MMAG and 20% owned by JT Aerotech Solutions Sdn Bhd (“JTAS”). MJets is fully managed by both Mr. Gunasekar A/L Mariappan and Mr. Philip Phang Kin Ming from JTAS with MMAG having limited access.
MMAG is in the midst of seeking further clarification in detail from both Mr. Gunasekar A/L Mariappan and Mr. Philip Phang Kin Ming as they are the personnel in charge of executive functions and day-to-day running without MMAG’s involvement.
MMAG wishes to announce that to protect MMAG, the business of MJets and to ensure business continuity, the Board of Directors of MMAG has decided both Mr. Gunasekar A/L Mariappan and Mr. Philip Phang Kin Ming be suspended from their executive functions at MJets with immediate effect, pending outcome of investigations by the MACC.
Further announcements shall be made in the event of material developments on this matter.
Malaysia share market....Those all penny stock below 0.50 need to Suspen...all is tipu...inclyde warrat,call warrant...Cbj,Cba......n more...if never settle n give investor Good answer...Malaysia Market.......like Old Man Push The Car...
=============== Will be good if MACC starts to investigate to uncover wrong doings in public listed companies especially low price high NOSH penny stocks with questionable businesses with years of losses surviving fund raising via massive issuance of shares followed by consolidation of shares & rights issues, causing huge losses to innocent investors
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....
8899EL8899
2,264 posts
Posted by 8899EL8899 > 2023-02-02 15:49 | Report Abuse
MMAG SHAREHOLDERS,........
RUBBISH BOSS KNOCK YOU DOWN TO FLOOR,........
PUT ROCK ON YOU,.......
`GELEK` YOU 10 - 20 TIMES,......
UNTIL YOU BECOME MINCED MEAT,........
THEN SWALLOW YOU UP,........
GUP !......GUP!.....
WHAT CAN YOU DO ?