IT increasingly looks like Bursa Malaysia and the Securities Commision, may have allowed the 1 Doc International Bhd's Bumiputra book building exercise for its IPO shares to proceed at the MITI level, knowing that the share sale would fail miserably.
MITI between May 12 and May 20, had opened the offers for the I Doc International Bhd shares but the response from Bumiputra investors were extremely weak.
THOSE investors were right to give I Doc International Bhd, the cold shoulder, considering that two of its major medical doctor shareholders namely READ : Ong Hong Keat and Chin Boon Keat were facing the Malaysia Medical Council disciplinary board for possible infringement, in the following month of June.
WAS 1 Doc International Bhd pushed over the cliff, so that the SC and Bursa Malaysia, can make it look like they were delivering their promise of Big IPOs this year, especially at the main board level?