Yes that's what is holding the SP back, will they issue...

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drainer

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05/05/21

12:42

Post #: 52952821
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Originally posted by Obelix999: ↑

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.

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Yes that's what is holding the SP back, will they issue themselves more freebies.

Why not provide a monthly activites update like a lot of other companies do. ? Just hearing from them once every 3 months on activities is no good for the SP , you get a spike up 40% then back down to where it was.

A monthly update would have gradual positive effect on the SP.

VIP Price at posting: 5.5¢ Sentiment: Hold Disclosure: Held
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