Monday, March 05, 2012

And Here Comes The Forced Selling At Silver Bird

When it rains it pours....

Announced tonight...


M.A. Wind said...

Silver lining? I don't see it:

Moolah said...

Incredible isn't it?

The implications made from the audited accounrs weighs heavily on the suspended MD.

And next thing we hear... forced selling on the MD shares.

If there's any silver lining at all, the MD should have come out fighting for his innocence. Why aren't we seeing this happening?

M.A. Wind said...

I think there is a lot more to it, hope at the end we will be able to read all.

You noticed the Lembaga Tabung Haji - SC connection?

Not sure if it got anything to do with the case, but you just don't want the conflict of interest.

Moolah said...

Ahh... yes.

The LTH factor. Like I said, I feel that LTH had been caught with their pants down on a very bad investment. But then... it's the LTH.

And because it's the LTH... some would probably think some thing could happen.... ie... the silver lining could and might exist.

( hmm.. which reminds me of ... when Transmile case. And because of the ownership issue ... some bet that there might be hope.)

I found some old articles... let me load... it's rather interesting.....

Mun Wai said...

The potential damages of the "irregularities" have gone far beyond the scrutiny cast by the Audit Oversight Board, in my opinion.

It's just too horrific.

Mun Wai said...
This comment has been removed by the author.
M.A. Wind said...

You understand the LTH connection to the Securities Commission ....?

Moolah said...

Mic: I am well aware of the connection.

Mun Wai said...


You so sayang me eh. Give me a bin (the liberty)& let me do whatever I want. I deleted the thing :P

Good cow. Now I share with you this gossip.

The AOB did imposed some form of "quality assuarance" over Crowe Horwath by renewing only a six-month license (in 2011). Crowe Horwath blood pressure shot up. :P

This was resultant from reviews done by AOB over some of their audit assignments. One of them is an esteemed Chinese company.

Funny that the reviewers are previously from the Accounting Standard Board. All theories. Die.

Nonetheless, this year they got back the 1-year license.

But, as mentioned, the Birdie case is just way too serious. I think it is beyond the AOB factor.