Tuesday, July 20, 2010

When The Company Said They Don't Know

Here's an update to a posting made in 2009. On 19th October 2009, I wrote the following posting: Sern Kou Tells Bursa Malaysia They Are Unaware!

Let me highlight the chart I posted back in Oct 2009 again.

The share performance stated below the chart says it all. The stock on 30th Sep 2009 was at 0.425. By 13th October, Sern Kou, the stock, managed to jumped like how the MooMooCow jumped over the moon and hit a hit of 0.635. And as you have at least guessed it, cows are rather heavy. They have absolutely no chance in gravity, and Sern Kou fell right down almost immediately.

Of course it was queried but the usual answer was given..

  • .. In its reply, Sern Kou said enquiries had been made among its directors and major shareholders and they were not aware of any rumour or report that might have contributed to the unusual activity.

Of course that was such a rather lame excuse because on the very same day itself, as highlighted in the blog posting, Sern Kou Tells Bursa Malaysia They Are Unaware! , there was
announcement posted on Bursa Website.

Look at that GODZILLA SIZED disposal of shares made! (clearly seen by the spike in volume of Sern Kou's chart)

So who is Quek Gim Hong@ Keh Gim Hong?


The second largest shareholder had BEEN DUMPING shares and yet the company said they are unaware of the recent unusual market activity!!!!!!!!!

This morning I decided to have my usual brief scan and somehow I remembered about Sern Kou. I wondered how it had been doing since then.

Did I quick look at Star Business website to see how the company has fared since then.

Hmm... rather very smallish .. barely profitable.

Well compare to the huge disposal highlighted. The second largest shareholder, Quek Gim Hong@ Keh Gim Hong, sold 12,000,000 shares at 0.556 and 971,500 shares at 0.47. That would have pocketed a nice change, yes? Certainly worth much more than what the company can make.

And how has the stock performed since then?