If Bursa truly investigate I will "salute" them religiously ...... indeed is very simple n all they need to tract shares transaction during the concerned period n then drill down to the true picture mahhhhhhh !!!
HeveaBoard says allegations on online portal 'untrue, defamatory and malicious'
KUALA LUMPUR (Jan 13): HeveaBoard Bhd has again refuted several allegations against the company posted on an online stock investor portal as untrue and defamatory.
This time, in a filing with Bursa Malaysia today, Heveaboard said it reserves all rights to take legal action.
"The contents made in those articles are untrue, defamatory and malicious in nature," the company said.
The Edge Financial Daily had yesterday written about a report by CIMB Investment Bank that detailed HeveaBoard management's explanations to the allegations via a conference call between the company and institutional investors.
The blog had alleged that a civil suit has been filed against the company's managing director over the non-payment of dividends.
HeveaBoard said today as the suit did not involve the company and was at the shareholders' level, it was a private matter and there was no legal requirement for the company to make any announcements to Bursa on the matter.
The company also said the suit had no bearing on the governance of the company.
HeveaBoard explained that the civil suit filed in the High Court of Malaya in Seremban in September 2014 was a suit brought by the minority shareholders of HeveaWood Industries Sdn Bhd against the majority shareholders of HeveaWood, namely Yong Kian Seng @ Yoong Tein Seng, Yoong Hau Chun, Tenson Holdings Sdn Bhd, Firama Holdings Sdn Bhd and HeveaWood.
"The minority shareholders alleged that they have been oppressed by the majority shareholders, and non-payment of dividends by HeveaWood was one of the allegations made," the statement said.
It added that HeveaBoard had not paid any dividends during the financial years ended 2009 to 2012 due to its financial position during that period of time.
It said HeveaWood should not be confused with HeveaBoard.
HeveaWood is a substantial shareholder of HeveaBoard and is a private limited company.
The company also said that the High Court has decided in favour of the defendant in the suit, but the minority shareholders have subsequently filed an appeal against the decision of the Seremban High Court.
The blog had also highlighted some issues pertaining to the company's containers of particleboard in South Korea, and discrepancies in HeveaBoard's inter-company loan.
HeveaBoard reiterated today that the South Korean authority had changed its standard of panel products from E2 to E1 boards. As the South Korean E1 testing standards differed slightly, HeveaBoard had delayed shipment to South Korea pending clarification of its new testing standards.
The issue has since been resolved, it said.
On the discrepancies in inter-company loans, HeveaBoard said that, in addition to the amount it owed to HeveaWood, there were other amounts due from other related parties to HeveaWood.
"Hence, the alleged discrepancies," it said adding that the amount owing to HeveaWood is intended to be repaid in 2016.
HeveaBoard shares closed two sen or 1.29% higher at RM1.57, with a market capitalisation of RM714.02 million.
From bursa filing , hevea is very perfect & healthy . Only some influenced by d malicious to sell . By right , the share wild Hv touching RM2 by now . Everyone must Hv faith in hevea . Tomorrow will be a gap up
3. Section 176 of CMSA- Stock Market Manipulation Stock market manipulation is the act of transacting in the securities of a company that will have or is likely to have the effect of raising or lowering or maintaining the price of the company’s securities on a stock market, with the intention of inducing other persons to purchase or subscribe for the company’s securities. Such acts are illegal under the CMSA.
Note: Essentially, the law provides that a person shall not effect, take part in, be concerned in or carry out, either directly or indirectly, any number of transactions in securities of a corporation, being transactions that have, or are likely to have, the effect of raising, lowering or fixing the price of securities of the corporation on a stock market in Malaysia, for the purpose or purposes which may include the purpose of inducing other persons, to purchase or dispose of the securities of the corporation or of a related corporation.
A person who contravenes section 176 commits an offence and shall be punished on conviction to imprisonment for a term not exceeding ten years and to a fine of not less than one million ringgit.
That useless lame fish cannot even press down the price. the worse is that he is hiding now to avoid being investigated by the authority. sigh, cannot get more cheaper hevea.
because he bought gadang and lost money, and want traders to help push price so ask u buy lo. just ignore then. today hevea will have a good showtime as ytd kena att so share prices drop,thanks for let me collect 1.55
leno ask .. who do u trust ... a newbie which is a noob ... or an experienced and proven veri wise investor like leno ? Hevea is a BOH CHOOW CCCCCCCCC AAAAAAAAAAAAAAAA !!!
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....
AhSook AhKou
1,296 posts
Posted by AhSook AhKou > 2016-01-13 20:06 | Report Abuse
If Bursa truly investigate I will "salute" them religiously ...... indeed is very simple n all they need to tract shares transaction during the concerned period n then drill down to the true picture mahhhhhhh !!!