Where are our guardians of good governance and transparency? [Or one for SC and Bursa].
From the point of good governance, the NSTP-Utusan merger stinks like landfill. One smells poor governance, low transparency, leakages, insider trading!
Lets look beyond this morning's bloodbath at the stock market, where these companies' share prices took a massive beating [read here for the report, here for the perspective], and go back to before the shares were suspended last Friday.
For more than a week before their voluntary suspension last Friday, the two counters had been doing double, triple somersaults to end up at their highest levels in a long time. How come? Don't the guardians of good governance at the Securities Commission and the Bursa KL wonder? To the analysts I spoke to, it is clear as day that some people on the inside were making a killing.
There is also the matter about the Singapore Straits Times breaking the news of the proposed merger (the Edge quickly followed up). The NSTP editorial adviser and deputy chairman Kalimullah Hassan is a former Singapore Straits Times reporter and has given several exclusive interviews to the Edge since his appointment at NSTP in 2004. He may not have been responsible for leaking out the news, but someone did. Surely the SC is curious to find out, no? This blog has warned it before of Vintage Wine in the Newsroom, remember?
And why did the Bursa suspend the counters (only) last Friday, long after Singapore Straits Times had broken the story of the merger and many days after some people on the inside may have made a killing in the rally before the suspension? The Bursa should call up the directors of the two companies and demand an explanation.
Otherwise, to hell with transparency and good governance.
Tuesday, December 05, 2006
Hanky panky in media merger
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SC and Bursa will not investigate. Maybe Shahrir and his almighty PAC wants to do or say something? Malaysians have almost given up hope on Pak Shahris. Cakap tak Serupa bikin!!ReplyDelete
Enlighten me pls. If this is KJ's move, and AAB is not in choots with SIL, does this mean that the honeymoon is about over? Or is this a proxy fight between KJ and CIMB?? What's really happening??ReplyDelete
Ya, The SC people must be sleeping, or pretending to sleep.ReplyDelete
A clear cut case of manipulation and insider trading.
The shares were chased all the way. manipulated by Media Prima directors.
A bunch of nincompoops in the SC....why could not you people, sitting on fat salaries there, take any action when the story was first reported.
You allowed the NST shares to rise from 1.79 to 3.00 dollar, then counters were suspended.
Today, they fell. Many lost. Those who followed the rise, you deserve it. Our stock market is manipulated. This is a clear example.
yet the SC has not given a single statement on the NST-Utusan rise and merger, stupid arses.
The problem is many who play the stock market treat it as a gambling den. Not a means to invest...a way to make a quick buck.ReplyDelete
Am sure thsoe in the know would have made some quick money & those stupid & greedy enough would have lost. Padan muka.
Have no confidence in the SC.
In this boleh land anything is possible.It is good to talk of transparency,good governance,various kind of purported freedoms, ratification of gobal treaties,etc. but in this boleh land this is mainly for PR purposes.Cos, we are governed by " jangan bikin serupa cakap" so why should we be surprised!ReplyDelete
You know and everybody knows that the Malaysian Bursa is a casino for big timers and those with connections to make money and sqeeze the small time investors dry.ReplyDelete
If this is not insider trading than what is?
Who make the killing. Well, rocky has in fact named them without "naming them!".
This is Transparency and Corporate Governance that our PM trumpeting!ReplyDelete
Where are we heading and what do PM expect from foreign investors
First of all, what padan muka to people who bought NSTP shares? Typical Malaysian mentality, hit the Ikan bilis, and let the sharks scot free. Dont you guys know, that blindness is confusing, it shows you are unhealed. I pity the Malaysian market, as some funds are prepared to sell down on the Malaysian stock market is the SC remains toothless against the people who manipulated the NSTP-Utusan shares. Can the real SC stand up, and investigate who was buying up the NSTP - Utusan shares....and how many of them were funds from Singapore. There will not be a smoking gun, to pin point the manipulators, but I was told some foreign publication in UK and Australia are in the midst of preparing an article. Did people at the 4th floor know of the NSTP-Utusan deal, as I was told a very senior gvt person was briefed on the deal way before the stock was suppened. Did the merchant bankers, spill the beans and manipulate the NSTP- Utusan stock? Somebody did...it could be stakeholders, the merchant bankers or the fourth floor. So instead of saying padan muka to people who bought the NSTP-Utusan shares, please say padan muka to corporate governance. Our Prime Minister, is a firm believer in good governance, a man who fights for the underdogs, so YAB Dato Seri Abdullah Ahmad Badawi, show them your elegance, by fighting the manipulators, cause if it it doesnt happen, than we Malaysians must look up to the skies, and hope for the great GOD to come down and make everybody go high.ReplyDelete
Did you think the 1000 point which achieved last month are real?ReplyDelete
Do you know who SC bos really is?
Did you know that SG SC is helping our SC or bourse to boost current gov.image?
You can call it tradewind or bulls run at the tip of 'finger'..
Dear Mr RockyReplyDelete
That is the transparency and good governance of this "I do not know" administration.
Of course the SC and Bursa are asleep most of the time. You know and I know the reason and most of the Mlaaysians know the reasons. May be the only person chose not not know is the "Mr I do not know".
Our stock is a casino for people to gamble and for people like Repco Low to goreng. At the end of the day, the rakyat suffer. It is a false market unlike Singapore SE no one dare to mess around becuase of hte strict enforcement of the law. Even the equivalent of the Son-In-Law dare not mess around in SIngapore.
This country has gone to the dog!! There is no future under the "Mr I Do Not Know".
I'm surprised the Islamists haven't touched on our stock market yet..Isn't it a form of gambling if you follow the "code" strictly? So why not push for it's ban? Why harp on Genting H'lands when Bursa Malaysia is a legalized gambling entity. Genting is dumping more than $3 billion into S'pore to create a tourist haven bringing in cold hard cash to the republic. Imagine what that kind of investment could have done for us here...Hypocrites rule the day.ReplyDelete
What do you expect SC to do?ReplyDelete
Even Mad Sabu had said earlier that the whole kitchen cabinets are scared of unohu!!! HU hu hu waaa!!
After slowly building up a reputation as no nonsense capital market regulator over the last few years, this NSTP-Utusan deal is reminiscent of the Renong-UEM debacle in 1997/98 where the SC is impotent to act decisively against certain individuals who are close to the government of the day. Where is the level playing field in investor protection? Are we going round in circle?ReplyDelete
IThe SC is not sleeping. She's very much awake and aware of what's going on. She is turning a blind eye because she is a family friend of AAB (who appointed her as SC) and her husband Datuk Azizan and Kalimullah are close buddies. They were business partners at one time or anothert. They might still be. Transparency? Please!!!ReplyDelete
Saya teringat puisi yang ditulis oleh Usman Awang pada tahun 1961 ketika pekerja Utusan Melayu mogok menentang usaha Umno untuk mengambil alih syarikat itu. Saya perturunkan di sini sebagai bahan renungan kita bersama.
Duri dan Api
(Catatan pertama Pemogokan Utusan Melayu)
Kawan-kawanku yang dikasihi
semalam kita bertemu kembali memadu
ketika matari tersangkut di bumbung Utusan
kita tidak menerima apa yang ada
yang dinyanyikan dari hati berani
dengan tangan erat pada keyakinan terpahat.
Lagu kita telah mulai terpancar
ah, anak-anak manisnya menjenguk keluar
di luar udara basah dalam matari bersinar
semua antara kita lagunya seluruh sedar.
Apakah ini derita diri dalam mimpi
atau kenyataan pahit menjepit
pada lena yang membunuh kehidupan manusia
sama-sama kita rangkul menguji diri.
Kawan-kawanku yang dikasihi
di belakang duri di depan api
kita tidak bisa undur lagi
duri dan api, tajam panasnya kita hadapi.
Semalam dan hari ini kita diukir sejarah
di mana air mata tidak akan menitik tumpah
sebab kebulatan ikrar tak akan berubah
apa saja kita tidak akan menyerah.
Same view with you, voiced in different way :)
you living in lala land or what? Since when was there corporate governance when it comes to certain people and companies? SC only interested in whacking already semput PLCs that doesn't have any political affiliation nor patronage. When THEY, and you know who they are, wants Utusan and NST to merge for reasons they only know, why should SC care or question.
Even if the merge goes through, no one seems to ask the question - which will survive? Berita Harian or Utusan? Metro or Kosmo?
Not nst or utusan.
Transparency to them means being able to see what we (the people) are doing at all times and for all reasonsReplyDelete
Good Governance means more Government is Good Goverment and look at how big Government has become, so big that even Republicans would be embarrassed of it.
Fighting corruption is all about making sure that their 'family-first' ideology is not sullied by unimportant consideration such as national interest or public scrutiny