Investors should be careful with this company. The said MACC case with Dato Doh Jee Ming is related to the malay reserve land in the district of Manjung, Perak. Which is also where one of its big project is currently being developed, Bandar Baru Setia Awan Perdana. For sure now that the authorities there would scrutinise any project related to Dato Doh more strictly. I assume this would be the same for projects in Kedah and Johor as well.
Sime Darby jv in Kedah would also be in the spotlight. Not sure if Sime Darby would want to proceed with a partner that is currently being investigated by MACC.
Safer to wait for all the issues to be clear by the MACC.
Investors should be careful with this company. The said MACC case with Dato Doh Jee Ming is related to the malay reserve land in the district of Manjung, Perak. Which is also where one of its big project is currently being developed, Bandar Baru Setia Awan Perdana. For sure now that the authorities there would scrutinise any project related to Dato Doh more strictly. I assume this would be the same for projects in Kedah and Johor as well.
Sime Darby jv in Kedah would also be in the spotlight. Not sure if Sime Darby would want to proceed with a partner that is currently being investigated by MACC.
Safer to wait for all the issues to be clear by the MACC.
3 hours ago
Sounds perfect...buy only when all the dust settled...
But what will be the price then? Still Rm1.19? Or back to RM1.70+(b4 the MACC saga), or even higher?
At present price of RM1.19, it has dropped abt 30% from 1.70+ thanks to the MACC.
That's the mkt response on this matter (though it once dropped 50% to Rm0.85+).
What's next?
The worst scenario= It turns to be Serbak 2.0? Or YNH 2.0?? Co go to Holland..suspended n delisted in near future?Boss n his father masuk lokap n entitles to life long free curry rice staying next to Bossku in Sungai Buluh?
Best scenario: Boh tai chi maybe fine some money biz as usual prices go back to Rm1.70+ or even higher
Certainly there is some uncertainty, until n unless this saga is being settled.
For now, those more conservative wanna play safe one Lagenda is not your cup of tea. U can safely put yr money in Maybank enjoying 6% annual return buta-buta....Or if u wanna feel safer can also keep yr money under yr pillow...can smell yr money 24 hours a day
In short yr money yr call. Understand the risk vs reward.
I put some money in Lagenda.
If I make money then I wouldnt buy u chicken rice for sure...If i lose money u can always come to this thread to laugh n tease .....I3 is always a free place...Enjoy
SERI ISKANDAR, June 9 — The investigation into the fraud involving more than 600 hectares of Malay reserve land in Perak is underway, and more witnesses will be called up, said Chief Commissioner of the Malaysian Anti-Corruption Commission (MACC) Tan Sri Azam Baki.
He said former Perak executive councillors (exco) would also be summoned.
“This is the second stage after a PTG (Land and Mines Office) officer was charged (in April). We are examining the minutes of exco approval meetings, other witnesses, and these exco members. Prosecution will take place soon,” he told reporters after attending the finals of the Higher Education Institution Anti-Corruption Debate Competition at Universiti Teknologi Petronas, here today.
On April 30, a former deputy registrar of titles at the state PTG was charged at the Ipoh Sessions Court for altering the status of 649.2 hectares of Malay reserve land in the Sitiawan subdistrict in Manjung 12 years ago.
Rosli Che Mohamed, 64, was charged with deceiving the Perak Agricultural Land Board and making it believe that the land with property title No PN 174770-174772, No Lot PT 17527-17529 in Sitiawan was not a Malay reserve land through a Perak PTG’s data correction form on March 25, 2011.
A property company managing director was remanded for three days concerning the case but was released on May 30.
According to Azam, the remand order against the managing director issued by the Magistrates’ Court expired; however, an investigation is ongoing.
In another development, Azam said MACC is applying to freeze the bank accounts of three suspects in the RM1.183 million marriage registration bribery case in Perlis, who were detained on June 5.
“...among the suspects are the Perlis Shariah chief registrar of marriages, and we want to find out what has happened to the money deposited into their accounts, where it has been spent, and so on,” he said.
Three individuals, including a senior officer of the Perlis Islamic Religious Affairs Department and an imam of a mosque in Kangar, are being remanded for five days until June 9 to assist in the investigation. — Bernama
Why waste time at such company with uncertainty? Investor should look for good company like ksl.
Though i always make fun on Hng33's chicken rice trading pattern n treat him as a counter-trend indicator in the past, I must say this man may be right this time
It's easy. Just leave it and dont buy now. Wait RM1.70 before jump in, or wait RM1.50 at least. Then come buy and read more and do homework and interpret the chart also.
Investors always want the safest investment. The actual facts as at now, the stock is tainted and perhaps more investigations and unpredictable outcome. Any further negative news will decrementing the share price. 0.85 is real landing. On the other side, speculations remain strong that it is all settled and 'agreed'. Just be very cautious with both versions. If MACC and authority can clear this company and the directors without further implication, that should be an additional advantage on their business credibility and governance. Otherwise, be prepared to see 0.85 cents again.
CharlesT Though i always make fun on Hng33's chicken rice trading pattern n his unlimited never ending funds in the past, I must say this man did his homework. 1 hour ago
‘Land being investigated does not belong to Lagenda’
- The 650ha of land being investigated is believed to be the Lagenda senior personnel’s private venture, echoing the property developer’s stance that the company is not linked to the probe.
- According to Lagenda’s 2023 annual report, its unit Taraf Nusantara Sdn Bhd on Aug 9, 2022, bought 422 acres of development/agricultural land in Mukim Durian Sebatang, Perak, from Ladang Awana Sdn Bhd for RM92.40 million.
- Lagenda being asked if the 422 acres purchased from Ladang Awana were part of the 650ha being investigated, a company spokesman replied: “The 422 acres of land which Lagenda acquired is in a different location [Mukim Durian Sebatang, near the Teluk Intan town centre]. It is not located in Sitiawan, Manjung, where they understand the 650ha reported in the media to be located.
- Furthermore, the 422 acres purchased by Lagenda is not designated as Malay reserve land. For completeness, note that Lagenda had engaged an independent adviser and also obtained the requisite shareholder approval prior to the acquisition of the 422 acres. The circular in relation to the transaction would also have spelt out the land’s particulars.
- Also that Lagenda had not sighted or been served with any official document regarding the MACC investigation.
- It should be noted that Jee Ming is a director of Ladang Awana. The group would like to establish that Ladang Awana is not in any way a part of the Lagenda Group of Companies.
Expected. Let it flow and volume continued to be at the low side and no following up interest. Almost more than a week. Let's get ready for another round entry point 15-20 cents from the recent high. Or even lower. Let's catch the 20 cents margin again.
https;//theedgemalaysia.com/node/714074. with its order book of almost RM1B and the fact remain epicon was founded after they acquired KTB only around sept 2023 . Lagenda case happen in 2012 so where is the logic of being push down this way.
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Uniglobe
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Posted by Uniglobe > 2 months ago | Report Abuse
Kiasi peoples please don’t buy this counter.