SCGM is paying a special dividend of RM2.21 to its shareholders. The company prioritizes the interest of the shareholders and is rewarding its shareholder when their cash balance is ballooning. The act of SCGM's management is commendable and exemplary to the market. Do you think the management of MAA will also do the same to reward its shareholders with dividends?
Poor management by the present director board under TY. Since no privatization by him anymore plus no dividend payment as promised. And he and his groups hold less than 50 % of the shares. The minority shareholders should put up an resolution to remove the present directors board.
KNM board is now controlled by TY people. For some strange reason, TY seem to always keen in this sector. Previously, Malaysian Merchant Marine Berhad (MMM) , Trenergy Berhad, Siam Power .. Not good outcome on company level. I honestly don't know why he thinks he can turn around KNM with almost same people. I wonder if they benefited or shouldn't it be "once bitten, twice shy" case?
We the shareholders of MAA entrusted the board of directors to maximize the return to shareholders, not maximize the losses to shareholders. If the board is unable to carry out this duty proficiently, why not resign and let other capable people do it.
TY buying KNM and start selling its prize asset just like he bought MAA and sold its main business which generated most of its revenue. KNM may soon become PN17 by selling off its main business unit. And then will take years to find a core business like MAA?
May I know when is the Maa Agm? Someone should put up an resolution to remove TY and his partner. Then he will buy back the shares or make another privatization effort because worry losing controlling stake. At present he is holding less than 50%.So we should gather for the effort to remove him. After that any one also can be the new chairman and ceo. Just following up with his footsteps sales all the assets and return back all the money RM2 pershare to the shareholders. Then everyone will happy including TY.
Will there be a new offer for Maa Share at RM1.40 ? In 2019 Melewar offered to take Maa private at RM1.10 a share. Why is there no news on the new share offer ?
RM1.40 is a fair and reasonable price. But will the major shareholder be so kind to offer this price to the minority shareholders on the next privatization call?
someone go invite Mr Tong Kooi Ong to buy. need people like him to stir the public attention on how independent directors can simply approve a related party transaction. https://theedgemalaysia.com/node/668812
Tengku bought MAA years ago and selling off its asset one by one to make profit. In buying KNM, i believe he will do the same thing to release value of the asset. Now what shareholders worry is whether he is losing his magic touch
Tunku Yaacob needs to be removed from the company. He is acting only in his own I Teresa and just keeps loosing money from his mistakes. Now MAA is the subject of a whistleblower investigation he keeps trying to cover up. Read the story below and then read the documents that the story leaks at the end of the story. You need an egm and shareholder approval to make such guarantees. Do you remember voting for this?
According to the bombshell report, TY is accused of single-handedly derailing a critical Share Sale & Purchase Agreement dated 23 May 2022, effectively torpedoing a deal that was already completed and awaiting payment. The report alleges that this decision was made in the shadows, without the necessary approvals or disclosures, flagrantly violating the Malaysian Companies Act 2016.
But the plot thickens. TY is also accused of reneging on a financial assurance guarantee that MAA Group Berhad had issued, promising to inject a staggering sum of €5 million or more into FBM if the “BORSIG Disposal” did not occur. This guarantee was seen as a lifeline for FBM, and TY’s refusal to honor it has been branded as a shocking betrayal and an act of fraudulent misrepresentation.
@Cipta , Nobody needs to publish anything in the news. The documents in the article speak for themselves. Did you vote to approve the 5 million euro guarantee issues by MAA to FBM? There is no record of an EGM for this purpose. It is a material event that requires shareholder approval. That is the rule. Tunku Yaacob who signed this illegally formed document in behalf of MAA should be removed and penalized for abuse of power or CBT appropriately. He and his board of directors who enable him know that there are no resources at the material time to honor the guarantee. The company financial records show these facts clearly.
@MacDee34 KNM has lodged report on this news and MCMC had taken down the news link. TY must provide proof that this is fake news otherwise MCMC wont take down the portal. TY is not a fool to make police report if the rumor was true.
I have seen several versions of this news report and all are not taken down by MCMC. In fact MCMC has no authority to determine the validity of company documents or filed reports with Bursa or SC. If the documents were not real, then why has Tunku Yaacob not disputed the authenticity of the documents? Show us all where he claims that these leaked documents are not authentic. It is very easy for him to do and would clear the air once and for all. But the truth is that he does not have the balls to further the lies.
We all know why, the Royal Pass, so let's not make up some stories. It is not who or how it is leaked, it is the documents leaked. The documents don't need a story, they are factual and not disputed by Tunku Yaacob and his people. Anyone can read a story about something, but why bother to read a story when you can read the documents themselves? Did you vote at the EGM and approve the document you want to cover up?
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
Cipta
1,057 posts
Posted by Cipta > 2022-04-29 15:44 | Report Abuse
Should MAA convert its option to Altech share in this May?