Saturday 3 December 2016

CIMB. VIVOCOM. Losing My Religion

Is the rave hit from Alesso , featuring rockers R.E.M.

Two  almost similar cases, , getting two oddly different reaction this month, from CIMB and the SC, seems to suggest , there could be something sinister in the VIVOCOM saga.

The first was MYEG Managing Director, Wong Thean Soon being fined RM50,000 for disclosing vital information to CIMB earlier this year, ahead of providing the same set of information to the stock exchange.

Wong is NO stranger to controversies, being on RECORD , the PAYEE of the HIGHEST regulatory amount in the history of the SC

Wong paid RM7 million  to settle a claim that the SC was proposing to institute against him and 13 others for the manipulation of MyEG  shares in 2007.

And then , we have VIVOCOM, where the focus has been on the analyst, and CIMB rather then the company.

Of course, it doesn't help that CIMB values VIVOCOM at 62 sen a share, which was last traded at below 20 sen a share, and now that could be a case for LOSING MY RELIGION.