“WHAT'S in a name? That which we call a rose by any other name would smell just as sweet.” William Shakespeare uses this line in his play Romeo and Juliet to convey that the naming of things is irrelevant.
LEONG Seng Wui's emergence in Hong Seng Consolidated Bhd, has been followed by a proposal to READ :change the name of Hong Seng Consolidated to HKL Consolidated Bhd.
IT seems, Hong Seng Consolidated might be following the footsteps of Harvest Court Bhd into delisting in 24 months time.
THE similarities between Harvest Court and Hong Seng are too close for comfort, as well as reminder that the Securities Commission needs an overhaul.
CONSIDER the following ; . READ: from October 2011 to November 2011, Harvest Court jumped from10 sen to RM2.13.
HONG Seng Consolidated READ : shares rose from 10 sen in July 2020 to RM1.935 sen on November 1st 2021.
BOTH stocks not only encountered a pump, which was followed by consistent dumping of the shares systematically.
By 2015, READ : Harvest Court had made plans to change its name to Anzo Bhd. The stock was then trading at 20 sem a share.
BY 2023, Anzo shares were worthless and subsequently delisted from the stock exchange.
HONG Seng Consolidated shares are now already 1 sen. The other similar between both counters are that the SC never charged anyone for the pump and dump activities that took place on these counters.
