It Is Believed..!!!

Where is the intergrity of our financial news when our reporters are allowed to publish articles based on IT IS BELIEVED!

Gee!

Take today's Business Times article.

• MTD Infraperdana plans RM460m capital payout
  It is believed that the payout proposal alongside a plan to raise as much as RM800 million in fresh debts was submitted to the board for consideration this week

It is believed!

How about for once printing some actual facts?

How about not printing financial news based on IT IS BELIEVED or ACCORDING TO SOURCES??

• MTD Infraperdana plans RM460m capital payout
  By Francis Fernandez
  bt@nstp.com.my
  
  November 17 2006
  
  MTD Infraperdana Bhd, country's second largest toll road operator, is believed to be considering a proposal to return as much as RM460 million to shareholders, bankers familiar with the matter said yesterdayIt is believed that the proposal alongside a plan to raise fresh debts was submitted for consideration to the board this week.
  
  A capital repayment of 40 sen a share translates into a total cash payment of RM460 million, based on MTD Infraperdana's paid-up capital of RM1.16 billion.

And when the stock reacts to such news, there is unreal profit to be made.

And obviously my question is DOES THE REPORTER PROFIT FROM WRITING SUCH BASELESS NEWS?

And this was the same 'writer' (I do not use reporter cos he's a fancy story writer isn't he?) who wrote the following articles IJM said to be weighing plan to buy into Talam and Satang Jaya soars on talk it may acquire Airod. Both stories which were denied by both parties. And this is the writer who wrote the same incredible story on Sugar. A stock which soared and then plummeted a couple of days later.

Sigh.

Whatever happen to reported financial news based on facts?

Sigh.