Perhaps it should be called Casino Bursa

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VOXPOP 'The question is: Why didn't the Securities Commission act earlier? Bursa Malaysia, you should change your name to Casino Bursa.'

30% plunge in Harvest Court's share price

vox populi small thumbnail Josephine: Before the price spike, Harvest Court was traded at 10 sen on Oct 14. Bursa only acted a month later - on Nov 14 - when the price had gone completely out of control.

The UMA (unusual market activity) query was raised on Nov 4 and the company's directors made the usual "I don't know anything" reply.

But surprise, surprise, the company announced the award of a RM129 million construction contract on Nov 10 - a mere few days after the UMA reply.

Also, the company then announced entering into a letter of intent to undertake projects with 1Green Enviro (a company controlled by the PM's son) on Nov 15.

PM's son or not, the Securities Commission (SC) and the relevant authorities should have come down hard on the matter. For a PM to condone his son to undertake this type of corporate magic show speaks very badly of his regard for good governance and corporate conduct.

Bursa Malaysia, you should change name to Casino Bursa.

Anonymous_3e86: What is a mere 30 percent drop compared to a 2,563 percent rise? Some Umno cronies would have made a huge bundle even after the 30 percent drop.

Bursa Malaysia's action of declaring the shares ‘designated securities' is to save them from plunging back to eight cents, thus ensuring that the Umno cronies can still make a tidy profit.

I suspect the dumping of these shares are by these Umno-BN cronies knowing that the price won't stay up for long.

It's insider trading but Bursa will not take any action - just like the recent AirAsia-MAS share swap.

Multi Racial: More than 25 times rise in value from Oct 13 before Securities Commission acted. The question is: Why didn't the SC act earlier? What is considered excessive?

We should seriously re-look into these regulatory authorities to make sure that we are not wasting taxpayers' money.

If there was nothing the authorities could do, then maybe these authorities should reduce their spending and workforce and charge investors less.

Borg Kinaulu: And we wonder why investors, both foreign and local, are shying away from Malaysia?

Tricubes appointed summons collection agent, shares soar

Ferdtan: We don't need an oracle to predict the future. Most of us had predicted correctly - that the 1Malaysia Email project will be given unnecessary and wasteful contracts by various government agencies, starting with the police.

Then it would be with EPF (Employees Provident Fund), CCM (Companies Commission of Malaysia), Inland Revenue, Immigration, PM's Department and NRD (National Registration Department) - just to name the few.

Are they necessary? Isn't this a redundance? The government is 'fleecing' the public. This is the biggest rip off happening right under our nose. Soon, all these agencies will be forced (using the taxpayers' money) to issue statements to the public through 1Malaysia Email.

Whenever Tricubes is in need of funds - all they have to do is to get these agencies to issue dubious statements/announcements. The PM's Department may wish the Chinese in the coming lunar new year, say half of them through email - 3 million at 50 sen each will cost taxpayers RM1.5 million - when it can done for free.

Foodforthought: This is how they increase the sign-up rate for their 1Malaysia email. This will now be the only way to check and pay traffic summons online. They will then announce how successful this monopoly con-job is.

My THOR: Appointing Tricube as a collection agent is definitely a good move as it will save cost and trim down the number of civil servants indirectly who are mostly non-performing.

What lack here are the terms and conditions for appointment that is not tendered out or reveal to the public. That's the cheese of it all. Otherwise, why appoint Tricubes? Secrecy breeds corruption.

Tell The Truth: Another crony-based venture to steal from public funds. So for every payment through Tricubes website, the police which is funded by the rakyat will have to pay 50 sen to Tricubes when the police could jolly well make arrangements with the local banks without having to pay for it.

By doing this, the rakyat will now have to subscribe to the 1Malaysia email. This is piracy.

Pemerhati: The payment of RM0.50 per email by PM Najib Razak and his cohorts to Tricubes, when free email is readily available, was a clear case of siphoning off and stealing the people's money by Umno with the help of its cronies in Tricubes.

Umno now has created an unnecessary summons collection agency so that it can make some more easy money through Tricubes.

Swipenter: Next, are they going to out source law enforcement to another rent-seeking crony of Umno?

 


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