Saturday, September 6, 2014

Who is the rat now?

Ironically this happened after I have posted the article in which case I was wondering something could be amiss on how the fund raised was used. That article was on Bright's rights where the cash raised was almost immediately used up.

Well another twist which is seemingly weird right? An executive director claiming that her signature on the financial statement was forged. Well for someone who had worked for PwC, Affin Merchant and Head of Corporate Planning for a company which is AIM listed? It takes someone of that background about 6 months to notice her signature in the financial statement was forged? Can that be really happening? Again, More questions than answers right?


Now my question is why wouldn't she resign? In any case the claim made on a listed company (or any company for that matter) is really very very serious!

6 comments:

Malaysia Stock Talk said...

An EGM was called in August 14 just to change the external auditor. Another warning sign?

Thought Ang Lay Chieng and Wong Shee Kai were together at Asia Media?

Justin Teo said...

At times like this, it would be great if you could buy put options in Malaysia, huh?

Felice, you have proven to be a good long-term hold investor. And I think you would be a pretty good short seller as well.

Malaysia Stock Talk said...

Now Ang Lay Chieng is suing Asia Media for forged signature

felicity said...

wow

ChenLee Pung said...

Hi Felicity. Been following your blog and thanks for the valuable insight.
Would appreciate your view on NTPM where there is a drop in profit in 1Q and share price of the counter. Any cause for alarm?

felicity said...

NTPM is a company which has one major competitor only in Malaysia especially in the tissue paper space.That competitor is Kimberley-Clark. Other than that NTPM is also in personal care product although not large.
There will definitely be some competition and pressure especially when costs of raw material is a significant portion of its costs. Recently, it is facing some hikes in labour costs with minimum wages and its expansion is also not helping. All these however I believe is important for its future.
I am not too worried as the company has built its brand well and logistically, it is getting stronger as well. Quarterly ups and downs are common.