BASICALLY, in a mere 122 trading days (rough estimate) Hong Seng Consolidated had lost RM3.319 billion of it's market capitalisation or about 39 PERCENT of the losses amounting to READ : RM8.36 billion suffered by more than a dozen companies in the most recent selldown.
BUT if we were to stretch the Hong Seng Consolidated Bhd's time line a bit further than the loss in market capitalisation becomes much more steeper ; in excess of RM7 billion Ringgit.
TODAY, Hong Seng trades at 1.5 sen, but faces the prospect of more selldowns, as VIEW : two of it's executive directors have signaled to the market that they intend to trade during the close period.
IN recent times, such trades have resulted in a sell off of Hong Seng Consolidated shares.
SO what's the shocking part here? Well the exchange especially Bursa Malaysia under Wahid Omar have kept closing their eyes to the red flags raised, that what ails Hong Seng, has actually ailed the entire market.
YES , i was wrong in my assessment that READ :that it will take an article either in the South China Morning Post or the Singapore Business Times To Tank the Market, and Shame The Malaysian exchange as a centre of dubious money and dubious announcements, because all it actually took was for the brokers from Singapore to start selling down.
WHAT transpired next, was the usual suspects, dubious announcements to the stock exchange, hot money and fake accounts.READ : YNH says ALX Asset can’t raise enough fund to buy 163 Retail Park
NOW we can add those little hypothesis to some strange unusual FACTS such as READ : Hong Seng Consolidated, Revenue Group Bhd and Green packet Bhd HAVE the SAME company secretary as MOST of the COMPANIES , that saw THEIR SHARE PRICE TANK recently
