lol..dont worry bout that..hits the bottom and bounce back just like a basketball..new support at 0.23..once dropped below..the basketball deflated..sayonara..
This counter is rotten beyond repair. Get real, Brother, hands off earlier. Saddled with 2.2 billion in debt, this company is not a turkey. No investor would dumb enough to throw in millions to a dump yard and hope it will revive. It just a snow white story, and there would not be a white knight. The sensational movement is just a smoke screen and would goes off the peak when its nearer to the end of moratory period. It is either you burn or they win. It is a loose loose for you. Psss, the agreement sign is not binding anyway.
The signed document is clearly stated as (Conditional Master Framework Agreement) with a lot of condition precedents that Chinese can invoke to terminate it any time they want it. "Conditional" and non legal binding and no payment of any money as a consideration for the contract to enforce specific performance. At best, it is just another MOU. No fool, especially the shrewd Chinese, want to dump RM1.8b into such a rotten dying company that have a mountain of debts of RM2.2b and stopped operations completely for 2 years. Think their machines are also now in very rusty and inoperative conditions. 10 cents not worthy. Capital reduction of 95% is proposed.
The volume sell down for the last few session is actually not heavy. You think the big boys will be satisfy with this profit? Most likely the sell down is done by retailer. The BB are eating cheap ticket. There will be another push back...just my opinion!
Like what I said, that China company bought 4.5% at RM0.05, then push up to RM0.30=600%, then hoo ha hoo ha pumping money RM1.2billion hoo ha hoo ha, then selling to you guys and bye bye, earning rm50million cash from donation of retail investors. Thank you very much for free cash.
Spinninglotus, agreed. Exactly same people (aided by big headlines in local papers) signed firstly MOU, then MOA and then Conditional Master Framework Agreement, all may be terminated any time based on any of many exit clauses therein. Chinese stock market plummeted recently and they made it back big in KL.
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Posted by newcomer123 > 2015-07-28 20:55 | Report Abuse
lol..dont worry bout that..hits the bottom and bounce back just like a basketball..new support at 0.23..once dropped below..the basketball deflated..sayonara..