tag:blogger.com,1999:blog-18183714.post5051075293586231367..comments2024-03-08T20:25:35.963+08:00Comments on Malaysia-Finance Blogspot: SalvadorDalihttp://www.blogger.com/profile/06868577716920232901noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-18183714.post-64828609733960034352007-12-08T10:47:00.000+08:002007-12-08T10:47:00.000+08:00this sounds like a typical malaysian style of doin...this sounds like a typical malaysian style of doing things... legalised con-man perhaps?<BR/><BR/>someone somewhere out there made millions... while men on the street suffers. hmmm... the whole situation sounds just too familiar.zewthttps://www.blogger.com/profile/05825991430180369393noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-84899131733863457522007-12-07T23:46:00.000+08:002007-12-07T23:46:00.000+08:00Deborah, you said:As for mat's comments that the d...Deborah, you said:<BR/>As for mat's comments that the decision was out of the directors hands but cimb. I like to respond on 2 counts, 1) directors have the fiduciary duty to ALL sharesholders, so not playing an active contribution in the matter is not excusable<BR/><BR/>Directorships in GLCs are mainly political or crony appointments. Don’t expect too much from such people. Sime tried banking but failed miserably; the directors just can’t think laterally or out of the box. There are a few quality directors but the rest……….well, you get the drift.Mavern Kuanghttps://www.blogger.com/profile/00708689831490974520noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-82710189399569603312007-12-07T23:32:00.000+08:002007-12-07T23:32:00.000+08:00another question is, what is the Bursa or SC's rol...another question is, what is the Bursa or SC's role in all this since the cicculars and details of the scheme are submited to them in the vetting and approval process?Unknownhttps://www.blogger.com/profile/15690379275642675438noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-56682151834606671692007-12-07T23:31:00.000+08:002007-12-07T23:31:00.000+08:00I had odd lot (below 100) shares in the old Sime D...I had odd lot (below 100) shares in the old Sime Darby and opted for cash. I might have opted for Synergy shares if I could sell odd lots (if there is a way, please tell me).<BR/>Odd lot shareholders in Sime who wanted cash would not have complained (like your Aunty). In fact they would be grateful Sime gave them the automatic cash option. Think about it.<BR/><BR/>Incidentally the company I do internet trading through did not credit my account with the cash that was supposed to be due from Synergy, meaning I still hold post-merger Sime shares. It’s a small amount so I am not complainingMavern Kuanghttps://www.blogger.com/profile/00708689831490974520noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-51822095655794881362007-12-07T23:27:00.000+08:002007-12-07T23:27:00.000+08:00This 'unpleasant' situation benefits the substanti...This 'unpleasant' situation benefits the substantial/controlling sharedholders. Question is, is this an honest mistake or well orchestrated with an end in mind??<BR/><BR/>I also note some cases where companies buy back own shares despite the share price not moving up a notch. To enhance shareholders value or to boost share price, they cld opt to raise their dividend payout or go for capital repayment. But oh no, that wld not do. The end result of such buyback only serves to raise the substantial shareholders' effective int in the company without them spending a sen. <BR/><BR/>As for mat's comments that the decision was out of the directors hands but cimb. I like to respond on 2 counts, 1) directors have the fiduciary duty to ALL sharesholders, so not playing an active contribution in the matter is not excusable. If this is the case, then Shareholders shld vote not to approve their fees at the coming AGM! and 2) merchnat bankers and advisors... sometimes when bad decision or strategies are executed, its not always their fault entirely... they are being plain incomepetent or fail to see the issue at hand. Maybe too many jobs going to cimb and as a result, they are stretching themselves way too much?????<BR/><BR/>As for independent advisors... even if one is appointed, I wonder how effectively it can be. I have heard of cases where mgt appoints weaker firms or ppl who wld do their bidding as independent advisors. BOttom line is, investors must be vigilant and if they don hve the know how or the time nor interest, they shld just buy unit trusts or amanah saham. Leave the shares to the brave ones.Unknownhttps://www.blogger.com/profile/15690379275642675438noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-40742453829003939802007-12-07T22:24:00.000+08:002007-12-07T22:24:00.000+08:00I believe that in the Synergy Drive merger case, t...I believe that in the Synergy Drive merger case, the fault should not be put to the Directors of the previous 9 companies or the Directors of the new Sime. It is the work of the advisors (CIMB). The Directors hands were tied.<BR/><BR/>Dont believe me....??? check those 'in the know'Anonymoushttps://www.blogger.com/profile/13821312210171513168noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-16250082613851376602007-12-07T11:30:00.000+08:002007-12-07T11:30:00.000+08:00Dali,This a great piece of reporting! Your blog t...Dali,<BR/><BR/>This a great piece of reporting! Your blog together with Moolah's must be a "MUST READ" blogs for all serious KLSE stock investors!<BR/><BR/>You are absolutely spot on about having SHAREHOLDER'S BEST INTEREST at heart.<BR/><BR/>This action alone speaks volume and very loudly about SIME's Directors focus. The root cause must surely be the low cash payout based on the Default option. This is not an accident, but is carefully crafted, designed and approved by SIME's Board of Directors. I'm sad to say in this instance, they clearly DON'T have shareholder's best interest at heart with such an arrangement. To the Aunties, this would be seen as legally sanctified DAYLIGHT ROBBERY. There is no other word for it. I dread the day when our laws and legal interpretations are used by a privilege few to STEAL from those less informed like Aunty.<BR/><BR/>If there are long-term investors planning to stay invested with SIME without monitoring their stocks, then, they deserved to know this sad episode so that it must not be allowed to be repeated!<BR/><BR/>Old Observer.Old Observerhttps://www.blogger.com/profile/07785950809161995227noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-71016497577385810192007-12-07T09:45:00.000+08:002007-12-07T09:45:00.000+08:00Sifu Dali,I salute you for telling the truth and S...Sifu Dali,<BR/><BR/>I salute you for telling the truth and Sifu Dali deserved the title of 2007 Malaysia BEST Financial Blog.<BR/><BR/>Hope in 2008 you will do the same good work for all investors like us.<BR/><BR/>Please can do some writeup what will be HOT theme next year? TQzentraderhttps://www.blogger.com/profile/06687884942952328714noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-36071569649109799792007-12-07T02:20:00.000+08:002007-12-07T02:20:00.000+08:00Well said! We need more people like you to voice ...Well said! We need more people like you to voice out so that companies can make improvement. I am not a shareholder but I can feel how shitty it must have been for those who got the cash. <BR/><BR/>Your articles are so insightful and interesting -- I follow them daily :) Thanks!Unknownhttps://www.blogger.com/profile/10309298986586904687noreply@blogger.com