Friday, August 06, 2010

Insider's trading

Sime Darby's RM1 B tab, Malaysian Insider's blunder and Pakatan Rakyat's blooper. An early morning Malaysian Insider report that Sime Darby would  suffer its biggest-ever loss (of RM 2.5 billion) has punched a RM1 billion hole in Sime's market capitalisation, as outraged Pakatan politicians blindly bayed for blood (read here).

The MI report would have a good April fool pun, but April's long gone. Sime Darby's infamous 'on the ball' board fiddled while shareholders were being burned throughout the day. Sime could have sought a suspension from the market regulator but, instead, it stood still and watched the carnage.

Sime Darby did, eventually and after the market had closed, issue a statement that it would be posting a profit and NOT a loss as reported by the MI. But by then these bloopers had caused RM1 billion of Sime's capitalisation to be wiped out in just one day. It also allowed some very rich people, who scooped up the shares on the cheap yesterday, to become richer.

55 comments:

Anonymous said...

How come Malaysian Insider never called Sime Darby to verify the information? How come, Malaysian Insider never spoke to any analysts? Is Malaysian Insider cock sure of its information? Is the Sime Darby board talking cock? Who ever who had short the stock will be laughing to the bank. By end August we will know who is telling the truth. The manipulator's head must roll, be it Malaysian Insider or Sime Darby. As 4 Pakatan politicians, be accountable to yourselves first, check the truthfullness of your information, before demanding accountability from others. Dont behave like a headless chicken coz ten times out of ten, you will end up with stench of yoke on your face.

Anonymous said...

Kalu nak hentam, pakatan sedap melulu. Bila silap, berteguk dan buat take tau je.

Pantat Ang said...

Rocky, you seem to be unduly worried about this Sime controversy. Why worry? Only a few billion losses. Small change. FDI no problem, Sime losses no problem. Everything ok.

Anonymous said...

Biasalah beb, MI pun nak cari makan. Takan, the star aje bole cari makan. The Star cari melalui 'WORLD EXCLUSIVE' pasai Low Taek Jho.. Tak sala, MI cari makan dgn binggungkan Sime Darby. Sekurang2nya mrk x tundok dan menjilat bureq mcm the star.

Anonymous said...

Ngapa Sime Darby diam aje? Mungkin ade buat perancangan dgn Malaysian Insider, utk bersama sama Insider Trading. Woi, Musa Hitam, koa ni cakap aje bistari. Sama mcm Ahmad Sarji.

Anonymous said...

Sime Darby is another case build by the British and down the drain by UMNOputras. Penang Free School is another example.

Anonymous said...

Malaysian Insider meliwat Sime Darby. Nasib baik, Sime daa cukop umor, klau x, kena niqah dgn MI.

Anonymous said...

Wow, one more scam by Kali Ular. Kali and Azman Hashim already given mandate to Kean Onn to sell ECM for RM2 but nobody want to buy at this price. So just call Brendan Pereira and sit down with Siew Lian and her husband and come up with a grand scam to raise easy money. Rope in PR people and Zubir loyalist still in Sime Darby and execute the coup, while Bakke, the hj bahil look alike tries to remember names of Sime Darby staff. Woi Haji Bahil, you have been stabbed by your board, and left high and dry by Zubir and gang.

Anonymous said...

First short the stock - make money. Then buy the stock on the low and hold for a couple of day - also make money. Hello, Malaysian Insider, I got story for you also, stories that wont make you look like an idiot. Air Asia going to be taken private this year. Call Tony Fernandes lah. Price is RM1.85.

Pak Zawi said...

Why blame the messenger?

Anonymous said...

Lim Guan Eng should be arrested for bribery and corruption. This Cheap Minister thinks he can buy votes with his RM100 gift to senior citizens . This is political corruption or political bribe , isn't it ? To look at it from a different perpective , all senior citizens above 60 yrs old is entitled to this RM100 bribe , as to qualify for it you must register your name at only DAP service centers. Read more here http://justice4otk.blogspot.com/2010/08/guan-eng-arrest-me-if-rm100-payout-to.html

Anonymous said...

my dear Master klentong,

Sime opened at 7.7 and lowest trade was at 7.48. Total of 12 million shares traded.

how did you arrive at the market cap loss.

SIME said based on BEST ESTIMATES it would be back in the black.

the same SIME who much earlier said no cost overruns?

to be fair - price reference from the early part of the year should be taken in to consideration

cheerio

Anonymous said...

Serve the market right for blindly believing MI and Pakatan folks. That shd serve as a painful lesson.

Anonymous said...

Datok Rocky,

New Sime Darby Group Executive Officer should start pest control and clean its place from PKR sleepers, PAS sleepers, Tun Lah Goons and DAP sleepers.

Cikgu Salleh Telegu
DG 48 Physic
SMK Tanah Liat

p.s Thank you DPM for permitting teachers to practice politics.

eddy said...

Someone will be very rich indeed. SC must investigate, something stinks to high heaven.

Anonymous said...

Sah insider trading.

jason said...

Will the SC now investigate this event to see if there is any breach of regulations? Definitely in line with SC's Mission Statement - to promote and maintain a fair, efficient, secure and transparent market. And Bursa Malaysia too needs wake up and be vigilant and proactive.

Anonymous said...

pu**tiang rocky..

malaysiakini

Istana Negara menafikan bahawa keberangkatan Raja Permaisuri Agong Tuanku Nur Zahirah ke majlis Islamic Song Festival di Shah Alam pada 4 Julai lalu atas sebab-sebab peribadi.

Istana Negara dalam kenyataan, lewat petang semalam berkata keberangkatan Tuanku Nur Zahirah ke majlis itu merupakan acara rasmi baginda.


"Pentadbiran Istana Negara ingin menasihati pihak yang terlibat dalam perkara ini supaya tidak mengulangi perkara seperti itu dan sentiasa berhati-hati dalam mengeluarkan sebarang kenyataan yang mungkin boleh disalahtafsirkan oleh rakyat," kata kenyataan itu di Kuala Lumpur.

Pada Isnin lalu, akhbar The Malay Mail telah mengeluarkan laporan bertajuk "Being Frank: Selangor's Royal Snub, Date with the Queen" dan satu lagi artikel "It was not a royal snub" keluaran Selasa, yang telah mendapat perhatian Yang di-Pertuan Agong Tuanku Mizan Zainal Abidin dan Tuanku Nur Zahirah.

Laporan itu "It was not a royal snub" menyatakan bahawa kerajaan Selangor mendakwa Tuanku Nur Zahirah menghadiri majlis anjuran Pelancongan Selangor itu atas kapasiti peribadi di mana beberapa pemimpin penting kerajaan negeri itu tidak hadir.

Laporan itu juga menyebut ketidakcekapan kerajaan negeri menganjurkan acara itu telah memalukan Tuanku Nur Zahriah kerana tidak kehadiran pentadbir utama negeri termasuk Menteri Besar Tan Sri Abdul Khalid Ibrahim menyambut ketibaan Baginda.

Majlis itu hanya dihadiri oleh kurang darpada 200 orang dalam Stadium Tertutup Malawati di Shah Alam yang mempunyai kapasiti 5,000 penonton dan kegagalan kerajaan negeri memaklumkan kepada Sultan Selangor mengenai kehadiran Baginda pada majlis itu.

Istana Negara mendapati mesyuarat persediaan menyambut keberangkatan Baginda ke majlis itu diadakan melibatkan pihak Istana Negara, penganjur serta jabatan dan agensi kerajaan negeri yang terdiri daripada Pejabat Menteri Besar Selangor, Bahagian Khidmat Pengurusan SUK, Bahagian Protokol SUK dan Tourism Selangor dan dipengerusikan oleh Pengurus Besar Tourism Selangor.

"Istana negara juga menolak laporan yang menyatakan Baginda meninggalkan majlis lebih awal daripada yang dijadualkan, pada hal sebenarnya pihak penganjur telah dimaklumkan terlebih dahulu bahawa Baginda tidak akan menyertai majlis santapan selepas konsert tersebut," kata kenyataan itu

Jasmine said...

I don't understand investors who react at the slightest news either negative or positive without really thinking. I suppose this is what they call "herd mentality".

Yes, you are right Bro, Sime shares below 7.60 is considered cheap and that was what happened following the report by "rumour-mongering" MI and again you are right, the cleverer and the richer were able to capitalise on the artificial slide and we all know who they are.

Would have bought the cheap shares had my money not stuck in AS1M!

I am sticking to my SIME shares bought at the height of the 2008 financial meltdown. AND am waiting for AGM to vote all those directors on the current SIME board out and if possible the chairman as well!

Anonymous said...

Dato'

As long as the price of CPO maintains, Sime Darby should be ok.
But there were reports that appeared this week on Business Times on the threat 48k of prime palm oil land in Indonesia being auctioned off. Is that true? Was that a result of ignorance by the management team in Indonesia?
Are there more negative news that we dont know off in Plantations or other Divisions?

Anonymous said...

Ok ape insider trading. Sekurang kurangnya reporter tu dapot buat uang. Taniah

Anonymous said...

wakakakkekeke hehehe weee kekek. Malaysian Insider apo dah jadi, kena kau kau. Kalimullah, Brendan Pereira, Jahabar Sadiq, Leslie Lau ada berapa biji telor kat muka hang smua????

Anonymous said...

Leslie Lau is the culprit. The mercenary at Malaysian Insider, pau-ing people. Even the N 9 menteri besar kena pau from him. He and his wife Siew Lian have been pauing people everywhere. pau pau pau


babi

Anonymous said...

SIME CEO Bakke has instructed that the company SHOULD not take on any more overseas contracts as the main subcontractor, but that its role should be limited to that of fabrication and construction alone, which is its expertise.
Any approval for new EPCIC projects, both local and overseas, would have to go through the CEO first.

Anonymous said...

Can anyone in Sime Darby tell me about the B-193 project, and why she is going to haunt Sime Darby big time next year???? heheheh


Its me Boss

Anonymous said...

some interesting questions:

1. Would the Sime foxes who knew the real deal and deliberately? dint clarify the issue but who used proxies to purchase the fallen "angels" (read: shares) are liable to be prosecuted for Insider Trading. Wouldnt be a farfetched scenario ("deliberately" rigging the market)would it?

2. Could the aggrieved parties in the fiasco seek restitution by suing the Sime Board for not seeking a suspension?

3. Could the same parties, sue the pants and cocks off Malaysian Insider given the report had the net effect of inciting panic selling. And personally hold a mullah and his sidekicks liable.

4. What would SC and the Bursa do this time. Wet their panties with filthy rotting cancerous vaginal discharge or dildo their dry cunts silly and ignore the shenanigans 'cos there are no conflict of interests gains (hahahaha..)involving family members plus there are no journos to bully and terrorise with an archaic and brutal Act. Alternatively, she bitch to the world that they are being subject to endless persecution.

Given SD's GLC status, wouldnt this lend a negative perception to the government and who will gain by such negativity. Plus, since we are all gaga over FDI, would this stymie investor confidence further (expect the Spore scumboy to give his usual garbage as usual)...hahahahaha ROFL

Pharking Rapists? PR who?Instead of enquiring into the truth, armed with facts, they rape the public senseless with their shitty cockthrusts and asinine ejaculate bordering on the absurd. And so obsessed with the idea of getting the first foot in, they ended up stuffing their shitstained foot into their mouths or better still up each others arseholes,,,,hahahaha. Such stupid fellatists who can ignore Sandgate in Selangor and Watergate in Penang but who are suddenly savvy enough to offer their shit laced prognostications are the end result of an uninformed, braindead electorate being given the opportunity to flush the destinies of innocents like me down the polling shithole. Time to bring in the army and execute these bastards en masse and pockmark this beloved land with mass graves. A pox on the Fox, the media brothel, the Malaysian Insider, the menopausal cuntdead fuckedout "goddess' and the Brendan Pariahs of this world not forgetting Arsewhores and their ilk.Ptui!pukimak chouchibai lanchiau!!

Warrior 231

Anonymous said...

some interesting questions:

1. Would the Sime foxes who knew the real deal and deliberately? dint clarify the issue but who used proxies to purchase the fallen "angels" (read: shares) are liable to be prosecuted for Insider Trading. Wouldnt be a farfetched scenario ("deliberately" rigging the market)would it?

2. Could the aggrieved parties in the fiasco seek restitution by suing the Sime Board for not seeking a suspension?

3. Could the same parties, sue the pants and cocks off Malaysian Insider given the report had the net effect of inciting panic selling. And personally hold a mullah and his sidekicks liable.

4. What would SC and the Bursa do this time. Wet their panties with filthy rotting cancerous vaginal discharge or dildo their dry cunts silly and ignore the shenanigans 'cos there are no conflict of interests gains (hahahaha..)involving family members plus there are no journos to bully and terrorise with an archaic and brutal Act. Alternatively, she bitch to the world that they are being subject to endless persecution.

Given SD's GLC status, wouldnt this lend a negative perception to the government and who will gain by such negativity. Plus, since we are all gaga over FDI, would this stymie investor confidence further (expect the Spore scumboy to give his usual garbage as usual)...hahahahaha ROFL

Pharking Rapists? PR who?Instead of enquiring into the truth, armed with facts, they rape the public senseless with their shitty cockthrusts and asinine ejaculate bordering on the absurd. And so obsessed with the idea of getting the first foot in, they ended up stuffing their shitstained foot into their mouths or better still up each others arseholes,,,,hahahaha. Such stupid fellatists who can ignore Sandgate in Selangor and Watergate in Penang but who are suddenly savvy enough to offer their shit laced prognostications are the end result of an uninformed, braindead electorate being given the opportunity to flush the destinies of innocents like me down the polling shithole. Time to bring in the army and execute these bastards en masse and pockmark this beloved land with mass graves. A pox on the Fox, the media brothel, the Malaysian Insider, the menopausal cuntdead fuckedout "goddess' and the Brendan Pariahs of this world not forgetting Arsewhores and their ilk.Ptui!pukimak chouchibai lanchiau!!

Warrior 231

skilgannon1066 said...

Deliberate? After all, syndicates have been known to "play" shares in Bursa Malaysia.

Perhaps the SC should be taking a look at the trades in Sime shares over the past few days - who was buying and who was selling.

And has Sime fully written off it's exposure to Bakun?

Anonymous said...

apa tu insider's trading? buat stori kelentong ke? Mesti angkara Leslie Lau, rakan karib Brendan Perira and Jalil Hamid, yg kini bekerja kat suruhanjaya sekuriti.

Anonymous said...

Dear Bro Rocky,

Care to explain how RM 1B was wiped out?

As 12 mil plus share traded - there must have been a price drop of at least 80cents?

How do u know the identity of the buyers?
Or the type if buyers?

Pure speculation?

If I need tution on klentong I know where to go to!

wakmempelam said...

Yang Berbahagia Dato,

Memang benar Pakatan banyak buat blooper kerana tidak menggunakan APCO sebagai spin doctor mereka seperti mana digunakan oleh UMNO.

Tetapi kalau buat blooper pun tak mengapa asalkan jangan bagi wang rakyat kepada Zionis, sudahlah!

Anonymous said...

Satu billion aje. tak ape. Ada berbillion billion lagi untuk hilang atau dihilangkan.

Anonymous said...

Sime's share price rose for a princely sum of 3 sen (highest) today. So much for investor confidence despite Sime's announcement of a profit for 2010.

Anonymous said...

Anonymous,
If you hold any shares in Sime Darby you better sell and get out. This is one of those ENRON case, they can show negative profits and inflate book values to show how well they are doing. How can these cronies be in business....all the ywant is to enrich themselves. Read Malaysia today and you can see all the screwups made by GLCs, Sime Darby is a classic example. Umnoputras cannot run business, all they can do is steal.

Screw Umno

Anonymous said...

Jangan mare same Malaysian Insider. Salah-silap kita maafkan, bulan ramadhan pun nak tibe. Aiyoh Rocky mare kite berbaik semula. Yang silam kite kuburkan.

Dato Kalimulah

Anonymous said...

What a scam. Lelsie lau must be listening to feng tau now, while drinking shingtao beer.

Anonymous said...

when this issues come out in the news first time, most of the people really don't care. Is a corporate problem that only apply to the big player.Small fish or normal people don't care less. But when the figures come out astonishing at 2B,ok this is a big deal.Wait,this is a glc company. Ok now this really become more personal. Funny thing is they manage to cover up 2b from the board of director without knowing.How can people cover 2b in loss & top people don't know about it?Then suddenly the ceo been sack.2b is not a small thing to hide,other must know about it. The whole system penetrate just like that! The whole ppl at the top must take responsible for their uncompetent.Period!.

Anonymous said...

So how now bruder, look what we found in the hat? A slimy rabbit called Malaysian Insider. Only looks white on the outside. Inside all BLACK.

Anonymous said...

And here we thought that MI can be trusted. Looks like they are the biggest manipulators.

Anonymous said...

Did someone ask SC to investigate MI? Please investigate Zarinah and husband first if you dare.

Anonymous said...

To the two people who have disputed the RM1 billion market cap loss, I am happy to inform you that market cap is caculated by taking last traded price times paid up capital of company. To calculate the loss, you take how many sens it went down and times with paid up capital. So Rocky wasnt spinning. Btw i hope you two peoples name arent Badawi and Najib

PANJI HITAM 61 said...

Bru, too many kebocoranlah , berbillion sana, berbillion sini ...the public manyak con_fused lor.... and the ship still sinking.

Inilah yang dikatakan mati katak... katak hidup yang sedang direbus walaupun dah tau panas pun tak mau lompat, lama lama mati direbus.

May I suggest kita practice basic QCC problem solving strategy.. i.e fix the vital few, the trivial many will fix itself.

Eg. identify the vital two issues, then all bloggers expose, kita grill, kita stir the shit, rock the boat until kita identify the root of the problems, then kita klorox sama dia baik baik.

We need to form "The Rakyat Commission" and I propose PERKASA to lead.

Whoever support my proposal, say "Yay"

Terima Kaseh

Anonymous said...

MI is right after all, Sime Darby is just cooking the book and at the end of the day Najib Govt will require money for the record bill out.

Anything touch by UMNO is going to see RED, even an egg will get lighter by 3oz after touching by UMNO, so goes the saying.

Anonymous said...

When the VO reports first came out, Sime Darby even denied it to Bursa. So their latest denial of the MI report should be taken with a very heavy dose of salt.

Anonymous said...

Anon 8:31 AM and Anon 2:34 PM, you two must be UTTER IDIOTS for not knowing how to calculate market capitalization. Hope your parents, and children arent retarded as the both of you.



Koa Lan Ciao.

Anonymous said...

In the Business Times today, this is what RHB had to say about Musa Hitam's Sime Darby. If this report is accurate, I am shocked, and likewise all Malaysians should be.

THE REPORT

Most of the problems stem from poor project management and an absence of documentation of client design changes and subsequent cost overruns," Hoe said.

"This was particularly the case for the Middle Eastern projects as the previous management had relied a lot on 'word-of-mouth' and trust that the clients would come through with the variation order payment," she added.

RHB also noted that Sime Darby had yet to receive any new contracts from Petroliam Nasional Bhd this year, which means that its fabrication yard will likely be operating at very low utilisation rates. The capacity was boosted by 190 per cent to 105,000 tonnes after the acquisition of Ramunia Bhd's assets.

Read more: Sime shares steady despite dent to image http://www.btimes.com.my/Current_News/BTIMES/articles/jrsimeee-2/Article/index_html#ixzz0vuvRtYIP

Anonymous said...

Leslie Lau dan Lee Siew Lian, kaya raya. Leslie kat MI, isterinya Siew Lian pule kat NST. Melayu memang bangkak, take paham paham lagi ke, siapo sepoi . . . . Zainul, koa ni tidoq kah, atau memang dlm kepale abok yg ade.

Anonymous said...

Akan datang -FELDA.

Anonymous said...

Malai betoi, saban hari, syarikat GLC hilang itu dan ini. Muak betooi.

Anonymous said...

Syabas Najib, Syabas Nazir Razak, Syabas Rosmah, Syabas, Nizam Razak. Sime Darby - TAKZIAH.

Anonymous said...

Looks like the slime in SIME, is still alive, wrecking havoc along the way. Can anyone really gaurantee if new people are brought in, everything will be okay in Sime?
I trust people, but not the devil in them, and as such, sorry bros and sistas, the Sime slimey fiesta is going to be a never ending story.

Anonymous said...

Malaysian insider has always been irresponsible. They were the first who started the reporting of shah alam cow head incident as a racial issue. It was pure Khalid samads incompetence which caused the issue but they blew up stoking racial incitement.
There were too many instances. But the most hypocritical is their fight for freedom of expression. They claim government curtailed this right. But when I criticise directly their journalism standard they censor my comments and refused publication. What loads of rubbish the Malaysian insider is.

Ellese

Anonymous said...

sue lah malaysian insider..

MakYong said...

Apa itu rugi lagi RM1 billion?
Never mind lah, EPF got RM300Billions at its disposal... your money, our money!
Keep on voting BN... Bankrap Nasional nanti! kahkahkah

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