Yah.. a lot of them will release news and ask people to buy.. then the money will left hand to right hand.. too bad not many ppl know how to read mandarin and get exploited.. in this bursa only half of the counter are genuine.. the rest goreng left and right.. pity those retailer
What's the problem of waiting lol.. invest in other counter like tnb while waiting other counter to reach your expected value.. first time play shares?
While there are many ppl here complaining about the continuous printing of shares. But they forget that, they are the one who "Agree" to let that happen by being not voting. In fact, retails investors make up more than 30,000 investors in the shareholder list.
It is a sad story, as 99.99% couldn't be bother, and like MSWG said, most just throw aside and cry or blast SC for "pakat" with Syndicate....etc. If shareholder voted YES then SC can not do anything to stop.
All listed entity has laws to abide by. AGM or EGM is where they will need shareholder approval. And in a mature society, like the case of XOX, retail investors as a whole is a MAJOR SHAREHOLDER and can veto any Directors proposal if acted together.
It is not a matter of Win or Lose the votes. Even if they manage to push it through this time, and if hundred and thousand turn up to vote. They know that retail shareholder is a force to be recognized. Director can be put into JAIL if they step outside the line.
So, help yourself and others to vote a NO, and show them that retail investors are not happy. Thanks
Hi Mustvote Thanks for your earlier link and info, i am going to vote coming 19/4 I think a lot of retail investors dont know about the EGM as well as how to vote against them. Not too sure if this forum is big enough, any way of getting a bigger forum will be good like Reddit group in US. If we can create a similar group for Malaysia retail investors, that will be really powerful. Obviously we do the right thing to stop the rubbish ESOS, right issues etc.. but not crazy in pushing stock prices irrationally.
...................................................... Can't see how the retail votes can be more than major shareholders or syndicate's vote.
MSWG should request SC or BURSA for a serious review of the share issuance scheme undertaken by penny stock companies. The approval has to be more stringent based on company's staff strength (ESOS), frequency of share issuance exercise and the impact of enlarged issued shares on shareholding dilution, EPS, PE, etc
Unfortunately it is impossible to gather all retails investor to one single portal, unless Bursa or SC is willing to do that. With today's technology, Bursa can easily make that happen, but SC & Bursa is sitting pretty in their nice office, and did not take any steps to safeguard Retail investors at all.
Some retail "investor" treat the share market as "Casino"
Again, under the SC Rules, like the case for XOX , they have to publish
(1) Media Advertisement (2) Publish on XOX Web site.
And sadly most retail do not see it. That is why i try my best to do the blog to make it simple for i3 members here. Hopefully more people share the blogs to spread the blogs.
Nevertheless, quoted @Consultant "internal play is possible.." is very true.
(1) Nowsaday, for Announcement of EGM/AGM, XOX must publish on their website as well as Newspaper media advertisement. Unfortunately, most retail do not take note on that. So shareholders will have to dig "inside website" to see the Announcement. :>)
(2) Circular are very complicated to read between the lines,. hence making like RPV as if it is complicated, but actually fact, it is not. Like the case of the Registration link.
(3) For Online RPV, there are lots and lots of shortcoming as well.. like one of i3 members said previously, all the "people" handling that are from the same "family", namely XOX, Shareworks, SharePoints RPV providers, MLAB.. Can we trust them to be fair and independent ? Maybe SC should look into that. As it is, there are many loopholes for fraud to take place.
Extract from the Circular SC Rules :- "The voting at the EGM will be conducted by way of poll in accordance with Rule 8.31A of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad. The Company has appointed Shareworks Sdn Bhd as the Poll Administrator to conduct the poll by way of electronic voting and Sharepolls Sdn Bhd as the Scrutineers to verify the poll results. Upon completion of the voting session for the respective EGM, the Scrutineers will verify and announce the poll results followed by the Chairman’s declaration whether the resolutions are duly passed."
Let us believe that there are still good and decent staff working in XOX, Shareworks , SharePoints, MLAB , even though their bosses might be "corrupted", but if staff are instructed to break the Rules, then they are looking to join their bosses into serving jail sentences soon, unless they are willing to make use of the Bursa WhistleBlower Policy to expose these malpractice. Electronic audit trailes is not easily manipulated.
Until SC, Bursa come to their senses, and tie up the loose ends as MSWG suggested, operators will keep doing things that look compliance but deep inside, it is not.
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Posted by strattegist > 2021-04-14 14:21 | Report Abuse
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