These two Dato Dr Yu as Executive Chairman and Dato Yu as Managing Director already took more than rm 15 million as Director's fees and salaries. Worst still is this woman Datin Chan Sow Keng as Alternate Director (alternate to which Dato?) also got rm 2.6 million pay. She was not listed as a Director and no profile given. She was also not stated any relationship with the other two Dato's in the Annual Report. Who is this woman?
Alternate Director Datin Chan Sow Keng rm 2,605,000
Almost 40 mil Q-ing to escape... 14 mil in Rapid @ limit DOWN...NO ESCAPE for most of them(Yu sindiket)! Tomorrow hv to Q again @ 25.5c & pray to tokong. Lesson is : DON'T CHEAT...Bad Karma! Steal $1 billion, pay back $1.2 billion & peace of mind! Resist temptation to gamble & don't touch or you'll be rescuing this robber sindiket!!!
The Insiders will grab up “cheap sales” shares when its stock price makes sense. I didn’t bother to calculate its NTA worth however I’ve done so for RAPID stock. Glancing roughly the relevant figures to perform NTA values are not so straight forward for YNHPROP stock with my eyes and mind, came up with in excess of rm1.00.
Another 70-100 mil more margin shares AT LEAST left to be force-SOLD! Don't touch! Tied @ the hip to Rapid which has several more limit-DOWNs to go...they are luring ppl to chase so as to DUMP!
NTA and net asset per share is rm2.23 and rm2.26 respectively as shown in its current Financial Statement on Page 4. I’m able to use a calculator to compute its net asset per share but its NTA worth eludes me, lol.
In hindsight, I’ve managed to derive and match its NTA worth after using a calculator. After I drank a cup of hot chocolate, my brain had a boost of energy and spotted “goodwill on consolidation” that must be subtracted in the formula.
It is just 4 sen away from limit down price. If is again close at 55.5 sen, there will be no escape for those still holding to the share.
Simply the Directors are not trustworthy. Prepaid Joint Ventures most probably already gone. Even an unknown woman was paid 2.6 million for sleeping at home. Who is that woman?
banker sudah lari, wont goreng up in short time already. Dont waste your time, just go find next counter. Malaysia stock never follow the rules of whether they profit or loss company. The stock price is just manipulated by bankers.
You cannot simply trust everything in the financial statement. It's got issues, lah. The Auditors, they cannot confirm if these "JV" deals listed as assets in the balance sheet are of any real value. You need to remove 1.1B in assets from the balance sheet before you start analyzing the numbers. If not, you'll definitely make a mistake in your calculations. Also, you should know that most of the debt facilities, including the bonds, are defaulted and are just waiting for foreclosure or to be frozen. The assets that the management is claiming are not legitimate, as confirmed by the auditors. Yu Kuan Huat, Yu Kuan Chon, and Daniel Chan are all going to be held responsible for all these dodgy assets. This situation has really affected the whole market, lah. These three are going to have a tough time explaining themselves to the lenders and those who depended on them. Really, I wouldn't want to be in their shoes.
Number of share subjected to forced selling is between 240 million to 300 million. New owner will emerge. First thing to do for new owner is to stop all contracts/ agreements entered by 'previous owners'. Conduct a forensic auditing. Make sure no cash/ liquid assets are transferred out. Freeze all bank accounts. Freeze all movement of staff in and out from company's premises for a week to facilitate transfer of books and proper handing over.
Last time called TechnoAsia, insolvent & backdoor listing for YNH. B4 that, called Westmont Ld Asia which went banklap & suspended in 2001. Before that was called Wing Teik, which went banklap in the same way as Repco, MCL etc in 1998:
Wing Teik to Get Cash Infusion After Failing to Pay Bank Loans By Leslie LopezStaff Reporter of The Wall Street Journal Dec. 12, 1997 12:01 am ET
"KUALA LUMPUR, Malaysia -- Shareholders of troubled Malaysian steelmaker Wing Tiek Holdings Bhd., led by businessman Datuk Joseph Chong, plan to inject 100 million ringgit (27.2 million U.S. dollars) into the company in a bid to keep its nervous bankers at bay.
In the first clear sign that Malaysian banks are starting to squeeze corporate Malaysia in the growing financial crisis, Wing Tiek said late Wednesday that it has appointed independent accounting firm Arthur Anderson to help restructure the company after it had failed to meet loan payments totaling 15 million ringgit owed to Deutsche Bank (Malaysia) Bhd. and state-owned Bank Bumiputra Merchant Bankers Bhd. The announcement came two days after Rating Agency of Malaysia Bhd. said Wing Tiek had defaulted on loans with unspecified banks...." Their chosen accountant Arthur Andersen famously collapsed due to a HUGE ACCOUNTING SCANDAL in 2001. You all know the saying about a leopard & its spots...
😉 Learn from big lessons in life never to repeat again & also so that other ppls' monie$ don't go into the pockets of crooks who have bottomless greed for $$$
big volume trading today, almost half of ynh gone. be careful with this counter until you know who is buyer. might be scammer yu family is buying they're own shares and take everyone for a fool
I already predicted way back in 2019 that Quek LC would get his revenge on this fish-frying doctor...🤣 He probably knew the warehousers & found out about his enemy's precarious margined position & helped set off the AVALANCHE of selling...
Posted by mohdshareef > Jan 22, 2024 3:38 PM | Report Abuse
@ks55 Datin Chan Sow Keng is wife of Yu Kuan Chon
So Yu Kuan Chon is getting rm 10.1 million Director's fees instead of 7.5 million. Alternate Director's fees are taken from its principal Director. Check how much CEO of Crescendo paid. Check how much former Executive Chairperson of Plenitude was paid. All these two companies are much larger and more profitable than YNH!
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Posted by rohank71 > 2024-01-21 15:57 | Report Abuse
this is so scary. is this legal?