I suspect this is what's holding the SP down. As far as I can...

I suspect this is what's holding the SP down. As far as I can tell (and it's hard to be sure) the 40 mil performance shares have pushed the 'free float' - the % of shares readily tradable, below 50%. Once management gains a controlling interest they can funnel the entire company into their own pockets, legally and with no recourse for ordinary shareholders. I've seen it happen.

What I'm describing is not a prediction but a worst-case scenario. I have been buying recently because there appears to be a great little business in the making here. But if I was entrusted with clients' money I wouldn't put it here because of the potential for abuse. Unfortunately Malaysia has a reputation for punching above its weight for corporate malfeasance.

What I would like to see is the second factory funded by offering 10% of the company + a board seat to a big pension fund or other insto. That would calm a lot of brokers' nerves. Ask yourselves why the share register is largely devoid of independent voices.

I think the business itself is sound, growing well, and I don't see demand for nitrile gloves falling off a cliff. But if there is another big allocation of shares to directors I will be out and advise others to do the same.