There was no mention of involvement of Public Bank in the HOA for the Oriental Bank Plc JV. I don't know where the involvement of Public Bank comes in.
Can't believe people buy this Gcap on expectation that PBB will be involved? If PBB wants to be involved, they would buy up the company as a subsidiary lah.
This is over reaction, I think. Buy the stock if there is value in it. If not, then you're gambling .... and now panic selling
Any way Public Bank is already well established in Cambodia and it does not need another bank. I don't know how some people associate Public Bank with the establishment of proposed Oriental Bank.
This has nothing to do with public bank. Why would public bank want to associate themselves with some random company? They are capable and already have established their own bank in combodia. This is just plain stupid goreng news. Sekian.
Some people simply wrote wrongly without mentioning the sources nor verifying the truth about involvement of Public Bank. Only the writer knew about the intention for writing such stories. Similar incidence that have caused misunderstanding have happen before too. Nothing new.
I just don't understand what was the intention of saying that Public Bank not involved in the establishment of Oriental Bank plc in Cambodia? We all know that Public Bank is never mention in the yesterday release of HOA for the JV to establish the Cambodian bank.
Because The edge not aware Dato Phang was already resigned. The editor never mention former Public Bank Banker. Never verified the source. So far as I know, PBB management team today very chaotic coz of this news.
Damage is done, whether the panic selling is triggered by the PB announcement or not. If you think GCAP is worth investing (at current price) after securing more than 20% of new bank business in Cambodia, then GCAP should be able to bounce back quickly. Apart from Cambodia bank, GCAP (according to Bursa Announcement) also has on going discussion about waste management (in Cambodia) and local housing project. Wheter GCAP can secure them is another story.....lol
If the rumor was saying PBB is involved, GCAP should clarify their position at the first place. Well, damage has been done. A bit tarnished on the reputation but life must go on.
NST had it correctly ... no mention of PBB involvement. Invest in the company if you see the value in this venture, not invest in it just because it's linked to the big bank. Think, if this is a business of PBB, shouldn't you all be investing in PBB instead? Some more they will be giving 4 for 1 bonus shares. Instead you guys gambled on this counter.
However, I think much of bigger investors' money are in this not because of the mention of PBB, but because of the great potential/value of the new venture in Cambodia. Imagine a brand new bank .... even though it is in Cambodia. In fact, because it is IN Cambodia, a fast growing economy that there is very good potential.
I saw the waterfall today, I think it was just panic selling, with many not knowing what the heck was happening. But now that much facts have come in, I think folks will be calmer and more analytical. Small retail investors were mostly the ones being slaughtered.
Still, tomorrow there may be many selling down, plus the T+3 force selling, I see good opportunity for anyone looking to take advantage. But I don't think it will limit down again. No reasons for that at all. The story has not changed, just the perception of punters, maybe.
Yes NST gave a good clear and accurate reporting on G Capital venturing into banking in Cambodia and the state of the country economy and prospects for business.
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Posted by Karlos > 2020-12-09 16:32 | Report Abuse
There was no mention of involvement of Public Bank in the HOA for the Oriental Bank Plc JV. I don't know where the involvement of Public Bank comes in.