Thursday, 21 October 2021

SCOMI : QUESTIONS

is a song from Chris Brown,  the man who was often touted as the succesor to Michael Jackson,  but somewhere along the road F'd up everything.

Looking at the Securities Commision statement today,  I have some Questions. READ ; Former Scomi Director pays RM900k insider trading settlement

I got a question for ya
Can I get an answer?
Yeah, yeah, yeah, yeah
Yeah, yeah, yeah, yeah
 I got a question for ya
Can I get an answer?

The SC went on to state "Even though the SC charged Sreesanthan in 2012, the trial only commenced in 2019 as Sreesanthan had, in September 2012, filed an application to challenge the constitutionality of the investigative powers of the SC under sections 128 and 134 of the Securities Commission Malaysia Act 1993."

That being the,  why is it then Scomi found it OKAY to tell investors READ ; THERE IS NOTHING MUCH SHAREHOLDERS NEED TO KNOW ABOUT THE RESIGNATION

And what is SC going to do about it,  considering that the statement on hindsight looks misleading?

For the record, Sreesanthan A/L Eliathamby was an independent director at Scomi from 2006 until 2020.  In that time,  the dominant face of the company was Kamaluddin Badawi,  who is Khairy Jamaluddin's brother is law.  

 Kamaluddin ceased to be a substantial shareholder in 2020 also, months after Sreesanthan  quit.

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