How can the CEO make RM 1m a year when the co is losing RM 8m, burning RM 3m every quarter and stock price has dropped 60%. The family can still collects RM 250k rents from the listed co in addition to pumping over RM 600k of public money into Trustgate privately owned by him and cronies. This is unethical unprofessional and the CEO treats Mpay like his own piggy bank at other shareholders expense. Impressive! GOTCHA!
Read the latest Annual Accounts 2018 its all there including even Datuk Vyonne Chia has been selling her direct stake... more selling to come if the CEO remains!
At 11.5 sen the market cap of Mpay is still a whopping RM 81m with cash going botak end of this year and heavy losses bleeding. NTA will drop to 5 sen in 2020 and thats where the price is heading if chew continues his nonsense in Mpay and strategic shareholders like Datuk Vyonne Chia and others continues their selling.
Fundamentally Mpay will continue losing monies as Datuk Chew treats it like his personal piggy bank and Technically this stock is very weak underperforming even other similar stocks with more sellers coming out than buyers coming in... price will make new lows and break 10 sens next few months.
recent AGM another session in wasting time. 3rd AGM with "how great is the technology" and nothing else. Many proposals with possible clients but no deals yet and still bleeding. But not to worry - we all working very hard doing nothing. Great company with a great mgt team.
Hey! Today, R-Table will be covering Managepay Systems Berhad by presenting 10 years financial results in a short, fun & interesting way. Click the link below to watch the video.
Big waves coming OTHERS ManagePay Systems Berhad ("MPay" or the "Company") - Acceptance of Letter of Appointment as an Authorised Installer for MYTV Boardcasting Sdn. Bhd. ("MYTV") "Return to Sender" Customer Premise Equipment ("MYTV CPE") for Bantuan Sara Hidup Rakyat ("BSHR") Recipients Details of the Announcement
Introduction
The Board of Directors of the Company wishes to announce that the Company had on 9th August 2019 accepted a Letter of Appointment ("LOA") from MYTV for the Company to act as an Authorised Installer to manage the delivery and installation of MYTV CPE for BSHR recipients (“Project”), subject to the provisions, terms and conditions in the LOA dated 9th August 2019. The scope of the service is to identify qualified BSHR recipients and to deliver and install MYTV "Return to Sender" CPE comprising Digital Terrestrial Television (“DTT”) and Direct-To-Home (“DTH”) Set-top Boxes, UHF Antenna or Satellite Dish, RG6 cables and accessories at the respective BSHR recipients’ houses.
Details of the Project
The LOA was awarded in response to the Company’s proposal dated 2nd July 2019. Upon receiving this LOA, the Company can commence the solicitation of BSHR recipients to receive the free MYTV CPE while installation works shall start from 1st September 2019 and to be completed by 31st August 2020.
The Company will receive stock of MYTV CPE and manage stock control at the Company’s premise as the risk of the aforesaid equipment is with the Company once the Company receives the CPE from MYTV. The Company shall only deal with the BSHR recipients’ data to fulfil its obligations under this LOA.
CEO and management is not working. No profit, Hugh work force, little revenue, family run like business, share price drop. No direction, no capable workers.
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....
Snake
158 posts
Posted by Snake > 2019-04-26 22:49 | Report Abuse
So lucky I have the tickets to join the party!!