For me situation still not quite clear. I nid to look through t propose of issue before reinvest or not. I nid knw the purpose of raise fund for wat? Bt recently quarter report weak. Plus new issue going to increase the number of syer will balance down the revenue if the company cant earn more.
Leech is changing the auditors...we shd reject it in the EGM to have some check and balance. Otherwise, the money from the right issue will be plundered by the leech. Alreadi there are signs that the money from the RI are not productively use...revenue drop instead of rises with additional investment !!!
Idiots running the company.If auditors are not comfortable with their position in issuing report on the company this means that some hanky-panky is happening..assets are not real and why auditors are changing..good luck
Got out first thing in the morning too, change in auditors most likely a sign of doom. Although price is higher now, glad that I'm out, at least can sleep well at night.
Changing auditor is very common among the industry and the incoming auditor UHY is as reputable as the outgoing auditor Baker Tilly. I have friends who worked in the audit industry and they said the auditor in baker tilly is relatively junior and they charged an exorbitant fees to the client.
I don't know how true is it, they have a big office in Bangsar South, their own building. Not even Ernst Young, Deliotte, PWC is having their own building. Baker Tilly reputation is not as big as the big four, but charges could be as expensive as the big four as they have big overheads to pay...
to be fair to the management, the drops in revenue is noticeable but the profits has performed better than before... Every business has a cycle and I am happy that the management is investing and replacing the machinery so they can compete better in the ever competitive market place
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Posted by manutdchampion > 2014-07-22 13:55 | Report Abuse
should sell now?