Will drop more from now onwards because next QR gonna be very ugly, to those who catches falling knives this morning. If you think you got it cheap, good luck to you. LOL!
With the backing of Sarawak state Govt , I am comfortable to catch the knife at 1.63. No right , no wrong as investment is very personal in both responsibility and accountability
The announcement sounds like there is a fraud though details are lacking. And the company didn't even bother suspending the stock until further details is released to the Bursa. Utter disregard for shareholders' interest. The board should be sacked for this. Maybe big shark trying to accumulate the stock by creating panic.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
5. The financial and operational impact to Group arising from the possible financial mismanagement and suspension of the Group Chief Financial Officer.
Reply: None. As stated under item 2 above, these are historical losses which have been accounted for and reported in our audited financial statements for 2016, 2017, 2019 and 2020
No future loss, only historical loss. Wahaha, investigate loss project related to cfo only la. Not like ambank annouce future loss 80sen per share haha
The Board of Directors of Cahya Mata Sarawak Berhad (“CMS” or “the Group”) has passed a resolution requesting Deputy Group Chairman Dato Sri Mahmud Abu Bekir Taib to continue his service with the Group and not to take leave of absence as announced on Thursday April 22, 2021. Dato Sri Mahmud had on April 22 tendered his request for leave of absence in relation to reports lodged with the relevant authorities following whistle-blower allegations. While the Board is grateful for his gesture of seeking leave of absence, we have reviewed the situation and resolved that there is no need for him to do so. Dato Sri Mahmud has agreed to the Board’s request and we have informed the authorities accordingly. The Board also wishes to announce that the Board is completely satisfied that the allegations of conflict of interest made against Dato Sri Mahmud and Karl Vink, former CMS chief information officer, in relation to the award of the contract by CMS I-Systems Sdn Bhd, a wholly owned subsidiary of CMS, to Vienna Advantage GmbH are without any basis whatsoever. The Board of Directors
Taib son continue his obligations already, 2nd good news
1. Duties of the Group Chief Financial Officer ("GCFO") will be taken over by our General Manager, Group Finance - Madam Tan Mei Fung who has been with the CMSB Group for 24 years and has the requisite experience and knowledge to assume the role in the interim.
2. Concerns have been expressed to the Board on substantial investment and contract losses which have been accounted for and reported in our audited financial statements for 2016, 2017, 2019 and 2020. The nature of these transactions will be subject to review by an external consultant to be appointed by the Company.
3. CMSB is working on the appointment of an external consultant to undertake the investigation. The Terms of Reference ("TOR") are being drafted and expected to be completed within this week.
4. As stated under item 3 above the TOR are being finalised and the schedule for completion will be agreed with the external consultant to be appointed by middle of May 2021. The more important task of the external consultant, is to review whether there were sufficient effective controls and risk mitigation measures in place to ensure that there are no future recurrences.
5. None. As stated under item 2 above, these are historical losses which have been accounted for and reported in our audited financial statements for 2016, 2017, 2019 and
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....
masterus
3,606 posts
Posted by masterus > 2021-05-04 11:47 |
Post removed.Why?