Once open, if still 3.5 sen, I will buy them as much as I possibly can. If Paramjit Singh Gill had announced his intention before suspension, prices would have gone up to 5 sen at least.
Initially I thought Paramjit and Erwin were Mr Lin's proxy. Looks like Mr Paramjit is not. And now the end is near for Mr Lin. He will soon draws his final curtain. Mr Paramjit Singh Gill has his ready set of people taking over Mr Lin's directorship. We shall now await our EGM to support Mr Paramjit's call to include Paramjit demand for directorship.
This Msports share is now worth RM1.11 a share. Kena pushed down by negative perceptions of the Chinese Stocks here in our Malaysian market, coupled with the extreme bad and mischeaveous intention of Mr Lin (doing a lot of nonsentical moves to bring his counter to the minimum) made this share counter dropped to 3 sen before suspension. We shall now support Mr Paramjit Singh Gill to cut this nonsense out and let the real market forces determine the actual share prices. Apple PLC in USA is a cash rich corporation like Msports but Apple shares are priced so high whereas Msports shares are hammered so low. WHERE IS THE JUSTICE?
I mean both Apple plc and Msports refuse to pay any dividend but both are cash rich. Cash rich is good for the companies but the owner should not help to push the share prices so down. Mr Lin should be reprimanded.
Taiwan Msports shares never dropped to this low because Msports management has to deposit a Taiwan Depository Fund into the Taiwan bank as security. That could be the reason why Taiwan shares hardly go lower. We should also do the same like the Taiwan counterpart. Get Msports to keep compulsory FD (says 30 sen a share X Msian public shares) as security in Malaysia. Then, Msports and other Chinese stocks will not drop like shit again.
I really doubt the company is holding more than RM300 Million cash ... This they can fake in China (can be done by just bribe the bank manager to give a false certificate )
What really matters is whether there are any accounting frauds. Only Lin knows best.
MSports could be like an apple eaten by worms from the inside. Whatever left is just the beautiful skin painted by creative accounting.
If there were any breach of trust, Lin probably ready to chow lor (run away), he is probably busy transferring all cash & liquid assets of MSports to his Swiss account. Even buildings can be mortgaged to the banks in return for cash for transferring. By the time Paramjit take over the Board of directors, it is only an empty shell. :D
A few years ago, the major shareholder of a listed company disappeared and was not traceable. The share price of that company dropped severely. Then a speculator / investor (a Malaysian from South Africa) bought and pushed up the price. The whole market was perplexed by this behaviour. Can you help to recall the name of this company? Maybe we can learn some parallel lessons here.
I have not commented on this for a long time. Just few days before suspension, I bought in all that I can. Some of you worry cash is fake, accounts is fake... etc. Well, that is possible but there is a possibiity they are real too. BUT buildings are real for sure. Those buildings alone, when Paramjit can take over easily make a fortune out of them. So, nothing to worry about. MSPORTS is debt free, so you wont have to worry money/building grab by banks or creditors. Being a conman in China is not easy, when caught you think punishment is as mild as here ? So just relax if you have MSPORTS, you will make big money this time once everything is settled.
No loan. No gearing. Low Debtors and creditors. Low stock inventories. Huge Cash Balance. Big Land and Buildings amount. All these are very good signs.
I suspect Lin make a mistake, probably bad advice from someone. He thought he can make MSPORTS go very low and then take it private at dirt cheap price. But he get caught when suddenly Paramjit and most likely Erwin also, took control over the majority shareholding. Thats why Lin panic and do ESOS to increase his stake, even at a higher price. But unfortunately it is too late now, Penny wise pound foolish for Mr Lin, he is going to lose big this time.
From my observations on Mr Lin selling spree pattern, he could be suffering from severe setbacks started from Mr Kwek Leng Chan's families and Hong Leong's group from 2009 onwards immediately a year after IPO. Kwek's group walloped all his monies by selling all their shares above 50 sen. Then in 2012, CIM Dividends Ltd bought a lot at around 40 sen but disposed within a year at between 30-40 sen. Beginning 2014, Mr Lin and his Power Wide started to sell heavily the whole year at prices between 17 sen down to 8 sen. There were a lot of married deal between Power Wide and Mr Lin in 2014-2015 trying to say himself. Erwin bought in around Sep 2015 at price around 9 sen. But in Nov 2015, Mr Lin exercised his ESOS at 11 sen (even though the market price then was 9 sen) but sold them off at a loss of 5 sen in Jan 2016. How pitiful? In Feb 2016, Mr Paramjit saw this opportunity to buy at 5 - 6 sen. Again in 26 Apr, 2016 right before suspension, prices gone down to 3 sen. (Dont know who sold them).
From my observations above, Mr Lin could be suffering from severe headaches and set backs, thus making him re-act as such. But he can always use the company cash to pay dividends. Why didn't he do it? Is the company cash fake? Very unlikely as the Auditors RT LLP was certifying all the Audit Reports from 2008 till 2015.
CORRECTION : Foo Kon Tan Grant Thornton LLP was their Auditors from 2009 to 2012. Effective 2013, Msports Auditors changed to RT LLP another well known International Auditors worldwide. Earlier auditors left Msports because Foo Kon Tan seperated from Grant Thornton in 2015. But RT LLP with 80 countries and 500 offices worldwide is a reowned International Auditors in Asean has being Multi Sports Holdings Ltd auditors since 2013 till now.
Buildings are real for sure....but sold off took money in pocket liao. Yup, u can sue the director ... but u need to go to CHINA to lodge police report. Then lodge report with china embassy and bank of china. Then u must hire china lawyers to sue that director :)
Inexperienced jonker makes a mistake and becomes a joker instead.
Fear monger must have panic sold all his shares on his own "fear". Now he fears that his "fear" is not real, no choice have to imagine more "fears" to stop himself worrying that MSPORTS may fly too fast when trades again. Instead of making big money he cut loss. Dont be surprised, this thing happens all the time in KLSE and it will happen again.
Stock promoters must be desperate to promote this stock since they are trapped. :D
Usually stock promoters promote a stock after they bought it, hoping that more innocent people will believe them, then they sell higher to make a profit.
Unfortunately, in this case, stock promoters also got trapped here & they have no choice but to continue promoting until more ‘greater fools’ believe them. LOL.
Mr Lin after receiving resolution letter,must be now in sleepless night. Serve him right. He must be eating not only sleeping pills but also high blood pressure pills. This will be a lesson to all listed company not to bully the minority share holders
How about cash still intact? I think like us Paramjit Singh also eye Msports cash pile not other things.
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Posted by swingtrader2 > 2016-05-24 14:51 | Report Abuse
once it is listed, this counter will fly like hell. kakakakak