Quantum Metal Sdn Bhd (QMSB) Cash flow Problem. The facts that Quantum took longer time than normal to refund depositors or traders has been known since Jan. However, I do not think that they are insolvent, they have an audited profit of Rg400+ M last year. https://www.quantummetal.com.my/quantum-metal-malaysia-wholly-owned-by-qmei-attains-impressive-milestone-boasting-over-rm400-million-net-profit-in-the-latest-fiscal-year/#:~:text=Bullion%20Gold-,Quantum%20Metal%20Malaysia%2C%20Wholly%20Owned%20by%20QMEI%2C%20Attains%20Impressive%20Milestone,Bhd. Their platform for gold trading: GCA and GAE etc are quite complicated for most of their customers to operate and with recent bad publicity from SC etc, more than normal withdrawals have been made. Their resource holding under the Shariah Board took longer to recover. https://qbeb.org/ These GCA and GAE schemes were designed for people can invest their money for slightly long term like 2 years or so and not so good for short term. Dato did say that he was optimistic to settle most withdrawals soon. However, I do agree that we need an Independent CEO to look after BEZ's interest . No doubt Dato would like to advance the mining ASAP and he is a very smart man. He is not a miner and he has too many things on his plates : Quantum has just started pharmacy chain, jewellery shops , restaurants etc. The dream outcome would be with better drilling results, an established mining company would make an offer to Dato that he could not refuse to takeover BEZ while still honored the offtake agreement with Quantum.
BEZ Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
