Posted by Oldstory > 2014-10-15 01:15 | Report Abuse

Joerak you are right. Let human guilt and sky eyes punish all that deserves. Why judge on surface either chong or 2 of his targets? The more each tells their stories the clearer. Small investors only know share price drop and no proper recovery nor seen any negotiation except one sided attack playing fools of public. This old story of blaming two is widely seen as scapegoat. Until they have spoken nobody shall judge. Except sky eye. They better be fast. Many people loose money here.

Posted by TAGS80 > 2014-10-15 11:19 | Report Abuse

hmm.. go any lower then maybe can grab a bit more? lol

Posted by blueocean > 2014-10-16 19:40 | Report Abuse

i buy at rm2

Posted by blueocean > 2014-10-16 19:40 | Report Abuse

shit

Posted by Seabiscuit > 2014-10-16 21:09 | Report Abuse

Read Kini Biz. I was told Tey and Ooi make press statement.

Posted by imbigboss > 2014-10-16 21:22 | Report Abuse

blueocean .. u r not alone.

Posted by Oldstory > 2014-10-16 21:24 | Report Abuse

Black and white evidence out? If yes then real story will reveal vs verbal accusations. The more investor listen and think the more puzzle about the accusations.

Posted by Seabiscuit > 2014-10-16 21:37 | Report Abuse

Tey and Ooi will be filing defence on the 30th of Oct 2014

Posted by sapura > 2014-10-17 09:33 | Report Abuse

Deal tour bad happens could be 2-3 out of 10 deals. hope the 3 guys once given chance to tell their position, still come back to basic communication, the mother solution of all arguments.

Posted by sosfinance > 2014-10-17 09:34 | Report Abuse

@seabiscuit, can share what is written in KiniBiz? Am not a subscriber. If Tey and Ooi didn't do it, who did it, and what is the motive?

Posted by sapura > 2014-10-17 09:38 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/10/17/Two-Protasco-nonexec-directors-deny-allegations/?style=biz

Pick this up this morning.

PETALING JAYA: Protasco Bhd non-executive directors Tey Por Yee and Ooi Kock Aun have denied all allegations made against them by the company and will file their defence at the end of this month. Tey and Ooi have retained the law firm, Gideon Tan Razali Zaini, to enter defence.

They entered an appearance at the Kuala Lumpur High Court on Oct 15.

In a statement, Tey and Ooi said: “We have carried out our fiduciary and statutory duties to the best of our ability. We resolutely deny all these allegations. “The allegations are not true and not supported by facts. These will be made apparent when we file our defence at the end of this month, where proof will be furnished to back our defence.”

The two directors added that they were not directors of PT Anglo Slavic Utama as reported recently.

On Sept 22, Protasco announced that it has filed a legal suit against Tey and Ooi for conspiracy to defraud Protasco and making secret profit.

Subsequently, it announced that the claim against Tey and Ooi was US$27mil (RM88.56mil) in damages, with 5% interest pre and post judgment on Sept 24.

Posted by Seabiscuit > 2014-10-17 09:41 | Report Abuse

Thanks Sapura for posting the press release.

Posted by Seabiscuit > 2014-10-17 09:42 | Report Abuse

Soon all shareholders will know the whole truth nothing but the truth!!! Hopefully!!!!

Posted by Seabiscuit > 2014-10-17 09:46 | Report Abuse

Protasco is a public listed entity. Not anyone's playing ground even for the major controlling shareholder or shareholders!!!!

Posted by sosfinance > 2014-10-17 09:51 | Report Abuse

Thanks @sapura. The question is one, who did not carry out their fiduciary and statutory duties in this case (should return the money and face penalty), two, what is the motive (usually is greed), third, will Protasco be paid back the deposits given?. Hope that minority shareholders will not become the victims, SC should assist in finding the truth and freeze whoever is involved to defraud Protasco.

Lets not hope this is not another Mongolian murder or Opposition suicide MACC case where there is no justice served. I remembered, the Transmile case, the MD got away. SC should be answerable to minority shareholders, as usual, no justice served. What about MSWG? Another barking dog that seldom bites.

Posted by Seabiscuit > 2014-10-17 09:55 | Report Abuse

Don't take minority shareholders for a ride. Most if not all investing their hard earned monies in PLCs hoping for better reward and return. Investors can easily put those monies in FDs!!!! Safe and sound. Can sleep peacefully. Then again high risk high return!!!

Posted by Seabiscuit > 2014-10-17 10:04 | Report Abuse

Sosfinance....Once court hearing and proceeding in motion at least more info will surface. SC just waiting on the side line ready to pounce!!!!

Posted by ykloh > 2014-10-17 11:55 | Report Abuse

It will take some time for the "facts" to emerge. Both sides will file allegations, replies (usually denials) and counter allegations. This will go on for at least a few months. The court then determines what is the "truth", and that will take a couple of years at least. And there will be appeals and cross appeals and that will take another couple more years. We will lucky to know the final truth in five years. One thing for sure, there will many other suits connected with this matter. There will certainly be moves to kick TPY &... out of the board and this may trigger a boardroom battle for control of the company and this may prove to be good for the small investors.
One person has yet to emerge as defendant for failure in his fiduciary and other duties to the company. He is non other than Chong, for being the MD, he owes more duties and any other persons to safeguard the interest of the company and on the surface of it he has failed to do so. All the 3 protagonists involved in this saga should leave the Board until the final outcome is established. Expect dramas but be patient.

Posted by lcng123 > 2014-10-17 16:47 | Report Abuse

a rubbish company I even seen. how can be so easy be cheated especially for the md like chong, a man who running business for so many years.

Posted by Outsider > 2014-10-18 01:15 | Report Abuse

The boss is too angry not because the duo fella but environment turns he has no control and no other ways to find better solution. I was told he knows everything right from beginning and he started by inviting them to take over old bosses shares. Everybody was questioning where the boss gets the two from and why they come in. Later found out different arrangement between boss and the duo, nobody knows what is going on except follow boss instructions. Then the oil comes. All planned and so fast. My friend works for him for many years, he said boss is the only decision maker and very successful if keep it small circle. Reality is not that simple, not everyone can give and take. My investment now is 33% burnt. Blame who? Myself!

Posted by Oldstory > 2014-10-20 07:51 | Report Abuse

US market is up. Hopefully P recovers more, regardless the basic bottom line is still good. Cannot cut lost right now. Too low.

Posted by Amao Mao > 2014-10-20 10:06 | Report Abuse

Regardless, my entry was 90 sen :P But still, expecting decreased, if not outright zero dividend declaration next month :(

Posted by Banker1965 > 2014-10-21 17:58 | Report Abuse

Few brokers talk about this company like soap opera despite the seriousness. Was told 50-50 investors believe some part of the news, but almost 100% believes 3 of them were in bed together helping each other to buy out the previous owner. Either party in trouble neither would get out clean. Pitty.

Posted by Banker1965 > 2014-10-21 18:02 | Report Abuse

The price will fall if either side fights, winner or loser will end up lost money when losing side sell all shares, end up both down under. Lost lost game. Run!

Posted by kakak > 2014-10-21 21:52 | Report Abuse

run

Posted by Oldstory > 2014-10-22 12:09 | Report Abuse

Banker you sell i buy all of it. Come.

Posted by itjustabouttheprofit > 2014-10-22 19:11 | Report Abuse

Oldstory i though u keep on spreading negative news and wan to sell all? Bullshit now?

Posted by Oldstory > 2014-10-23 08:46 | Report Abuse

Since when we talk negative? Am talking what market read and positive view of balance for the company which is for general investors interest. Unless you are not investor. Who the 3 shouting at is non of investors concern unless it has motive for their personal benefits. The 3 obviously did not do for company good. Said enough, will buy more to average down. Sell if you will.

Posted by Amao Mao > 2014-10-23 10:46 | Report Abuse

Best indicators, i think, are q3 and q4 reports. If both are strong, by all mean the company is still doable.

Posted by Oldstory > 2014-10-23 11:15 | Report Abuse

Coming.

Posted by Oldstory > 2014-10-23 11:16 | Report Abuse

No eye see. Go holiday.

Posted by Oldstory > 2014-10-23 11:19 | Report Abuse

Funds looks like collected 20-30million shares all over the place since fiasco. Likely another 10-20mil if things goes on. Trio will be questioned of their duty. Investors are waiting.

Posted by sosfinance > 2014-10-23 13:21 | Report Abuse

Suggest Swap and come back if result is promising. Sell Protasco, say RM1.50 today.Buy MAS at 25 sen. Get 27sen for the MGO, return net is about 7.5%. If Protasco move up to RM1.61, then BREAKEVEN, no extra gain or loss. If Protasco only move say up to RM1.55 (in 2 months time), which means, you only gain about 3% instead of MAS 7.5%. That is a feasible idea, No Guarantee what will happen during next 2 months.

Of course, Protasco MAY be announcing dividend, but no guarantee that price may not drop ex-div.

Posted by Oldstory > 2014-10-24 09:24 | Report Abuse

Finally big fish bite. Sold some today covered some lost!! Keep coming yes!!

Posted by Oldstory > 2014-10-24 11:21 | Report Abuse

Told u. Big fishes must be over eat. They buy up we sell. Go P Go!

Posted by Ahmad Muzamil Ahmad Murad > 2014-10-24 11:57 | Report Abuse

I believe investor last time overreact on the Court Case....... dumping it until almost 52Wk low level.

As Earning forward should be even higher, I think investor start to realised how foolish they react earlier.

ANd Protasco also have a very good dividend policy. Lets see after 3rd QTR Result.

Posted by Amao Mao > 2014-10-24 15:05 | Report Abuse

1.62!

Posted by Ahmad Muzamil Ahmad Murad > 2014-10-24 17:59 | Report Abuse

In just 1 day I enter....... good larr hope sustainable.

Posted by potong > 2014-10-24 20:03 | Report Abuse

Short term recovery only. Those bought low now selling. If the 3 starts to talk themselves out then only got hope. Else stays out.

Posted by Ahmad Muzamil Ahmad Murad > 2014-10-24 23:28 | Report Abuse

Lets see this 30/10 how

Posted by Oldstory > 2014-10-27 16:08 | Report Abuse

Whoever bought all the 20-30mil shares last few weeks panic selling and maybe another 5-10mil next few weeks if not fund managers then must be either camp A or B, and must be near 51% already. Something is brewing. Either party better do GO buying out each other than hurt the company. So small investors gets fair share also. Sold some again today cover some high price loses. Go P do GO! Investors are waiting!!

Posted by ykloh > 2014-10-27 16:53 | Report Abuse

The battle to gain control of the board may just have started judging from the price movements of late.

Posted by ykloh > 2014-10-27 17:01 | Report Abuse

Te defence papers filed by the 3 defendants in court should be available as they are not privileged docs. Can anyone get them and put them up in this forum for information of shareholders?

Posted by joerakmo > 2014-10-27 18:58 | Report Abuse

think have to wait for 30th Oct after they file.Another twist today:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1776889

Posted by Ahmad Muzamil Ahmad Murad > 2014-10-27 19:43 | Report Abuse

Should expect price drop in next few days before air is cleared.

Posted by wannabeinvestor > 2014-10-27 19:47 | Report Abuse

http://theedgemarkets.com/my/article/protasco-shareholders-want-remove-tey-and-ooi-board finally they are removing both of them..

Posted by Joel > 2014-10-27 20:23 | Report Abuse

PRTASCO 看来会再次下降。

Posted by miketyu > 2014-10-27 21:24 | Report Abuse

Another benalec story. price will fall to below rm1

Posted by wannabeinvestor > 2014-10-27 22:03 | Report Abuse

Why price will fall below RM1?

Posted by chloe_ts > 2014-10-27 22:04 | Report Abuse

Aiks, dejavuuuuu~