Bashing out on howour financial news reporters uses the phrase 'it's believed' and 'according to sources', Iblogged the following post: Can Our Financial Reporters Report Facts And Not Heresay?
Well, I made a mistake when I wrote the following:
Again, its believed. How about some actual factual reporting and not it is believed or according to sources?
- MTD Infraperdana plans RM460m capital payout
By Francis Fernandez
bt@nstp.com.myN
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 of course MTD Infra denies such proposal
- We wish to clarify that the Company is always evaluating opportunities to enhance its shareholders' value but the Board of Directors has not deliberated on the capital repayment proposal
Made the error of not reading the message in full:
ARTICLE ENTITLED: "MTD INFRA MULLS RM350M CASH PAYOUT"
Error was the MTD reply was made in respect to the Sun article and not the Business Times article.
- We refer to Bursa Malaysia Securities Berhad's ("Bursa Securities") query letter dated 17 November 2006 regarding the above titled news article which appeared in The Edge Daily on page 32 of theSun, on Friday, 17 November 2006.
Many thanks for correcting me.
Now here's an even more interesting issue. Both written on Nov 17th. The Sun article stated 350Million. Why and how did Business Times get 460 million!?
All this from a comment posted on this blog posting: How Now SC?
- Wow, great investigative report moola, but sounds like you have twisted your facts. I checked the MTD Infraperdana story, and wow there was a query from Bursa Malaysia, but it was on a financial daily article, written by a CHINESE writer, one DAY before the Business Times article appeared. Same way I checked the Time DotCom story written by Mr Barrock. It seems to me that the Edgedaily had an article out, a GOOD day before Mr Barrock wrote it in the Star, by the SAME CHINESE reporter. But Moola, obviously you did not see it, the same way you did not see the Bursa Query on MTD. Or maybe you saw it that is why even though you took pains to post the Bernas reply in full, you somehow was a bit lazy to do so for the MTD story. Are you a racist, plain stupid or just incompetent? please let us all know. By the way, why hide behind your mirror site? Last I checked on the IJM-Talam story, you forget to mention that few CHINESE papers also carried it?.....Is it get the Indian reporters, so that chinese financial reporters can dominate again....Hey moola, we are all waiting for your comments on CS Tan's the world is the oyster for GP Ocean....where is it? Padi Beras up six sen? what is the commission for it?
Bashing of a whistle blower?
Turning this into a racist issue?
Incredbile but I am sorry if it's a fault that I do not read Chinese.
And does it matter who reported it first? As a financial journalist reporters, can they not confirm their sources? See this is the problem, yes? And on a broader perspective, is it not wrong to do wrong even though one is not the first to do so? Take for example, the case of rioters. A rioter is a rioter is a rioter. Does it matter if the rioter is not the first rioter? So does it matter who made the reporting first? Isn't it more important to have financial news with better integrity and not based on uncomfirmed sources?
Take MTD infra again. Both written on Nov 17th. The Sun article stated 350Million. Why and how did Business Times get 460 million!?
I guess I am rocking the boat too much that the only way you could attack me via turning this into a racial issue.
Doh!
And posting in a chatbox under my name?
And this one?
*** snapshot has been removed due to the vulgar words posted ***
Are you proud of yourself?
Posts
7 comments:
No Moola, you are wrong. The Edge article on MTD Infra, appeared on their website, one day before. Since you have named Francis Fernandez and Jose Barrock, two indian writers, why dont you name the guy in the Edge who wrote the MTD Infra story? And also name the guy in the edgedaily, who wrote about the TimeDotcom story, one day before Mr Barrock did? Why dont you? Since you have defamed Francis Fernandez, and Jose Barrock, perhaps they want to sue you. But you hide behind a clock, and thus difficult to go to a court of law. You rather defame people, behind a curtain. This is not whistling blowing you are doing, but outright DEFAMATION.
Moola, is a good person, or is moola a vindictive person. Lets check out the facts. Here is Bernas, reply to the Business Times Article, and note what Moola has written, and how Moola refuses to say what was Bernas Trading at 3 or 4 days before the article or the volume.
And then lets look at the Eastern and Oriental Bhd article by the Edge, and Moola's no comments..... shocking is it.
Hey Moola...how much did E&O appreciate? The SC should investigate, and people like you should come out in the open, with your allegations..... of course if you do so, you might be sued for defamation. By hiding behind, a mirror, mind you, you still can be sued for defamation.
Subject : ARTICLE ENTITLED : "Plan to take Bernas private nears completion"
Contents :
Reference is made to your query dated 14 December 2006, pertaining to an article appearing in The New Straits Times, Business Times Section, Page 40, on Thursday, 14 December 2006.
We wish to inform that at this stage, the Company is not aware nor has any knowledge of the proposed exercise as stated in the said article.
Meanwhile, we are making due enquiries with all the directors and major shareholders of the Company on this matter. The Company shall make the necessary announcement upon receiving confirmation from the said relevant parties.
Query Letter content :
We refer to the above article appearing in The New Straits Times, Business
Times Section, page 40 on Thursday, 14 December 2006, a copy of which is
enclosed for your reference.
In particular, we would like to draw your attention to the following
sentences:-
"Tan Sri Syed Mokhtar al-Bukhary is believed to be nearing completion of a plan
to take private Padiberas Nasional Bhd (Bernas),..."
"...the tycoon is close to finalising a proposal to offer RM2.50 a share for
the shares they do not own in Bernas."
In accordance with Bursa Securities' Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article and in particular the above
sentences after due and diligent enquiry with all the directors, major
shareholders and all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect. In the event you deny
the above sentences or any other part of the above reported article, you are
required to set forth facts sufficient to clarify any misleading aspects of the
same. In the event you confirm the above sentences or any other part of the
above reported article, you are required to set forth facts sufficient to
support the same.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Group Regulations
TYE/LPY
cc: Encik Chung Tin Fah, Securities Commission
© 2006, Bursa Malaysia Berhad. All Rights Reserved.
HERE IS THE EDGE ARTICLE....AND LOOK AT MOOLA'S SILENCE....
Eastern & Oriental Berhad ("EOB" or "the Company")
Reply to Query From Bursa Malaysia Securities Berhad ("Bursa Securities") on Article Entitled : "Terry Tham to take E&O private?"
Contents :
We refer to the letter dated 12 December 2006 from Bursa Securities with regard to the news article appearing in The Edge on Monday, 11 December 2006 ("the Article").
We wish to inform that the Company has not received any offers from anyone and is not aware of any circumstances leading to the publication of the Article.
However, following the query from Bursa Securities, EOB have made enquiries with the directors and major shareholders mentioned in the Article and is currently awaiting their response, afterwhich we will revert to Bursa Securities on their response.
Query Letter content :
We refer to the above article appearing in The Edge, page 1, for the week of 11 December - 17 December 2006, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences, which is reproduced as follows:-
"Datuk Terry Tham, managing director and major shareholder of Eastern & Oriental Bhd..., may offer to buy out the shares in E&O as part of a bigger scheme to unlock the value of the group."
"... may first make a cash offer to E&O shareholders for their shares."
In accordance with Bursa Malaysia Securities Berhad's ("Bursa Securities") Corporate Disclosure Policy, you are requested to furnish Bursa Securities with an announcement for public release confirming or denying the above reported article and in particular the underlined sentences after due and diligent enquiry with all the directors, major shareholders and all such other persons reasonably familiar with the matters about which the disclosure is to be made in this respect. In the event you deny the above sentences or any other part of the above article, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above sentences or any other part of the above article, you are required to set forth facts sufficient to support the same.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
INDERJIT SINGH
Head, Issuers
Listing Division
Group Regulations
THY
Copy to : Securities Commission (via fax) (En Chung Tin Fah)
MTD Infra.....this also appeared on Thursday on the Edgedaily website. And Look at Moola's silence
ARTICLE ENTITLED: "MTD INFRA MULLS RM350M CASH PAYOUT
We refer to Bursa Malaysia Securities Berhad's ("Bursa Securities") query letter dated 17 November 2006 regarding the above titled news article which appeared in The Edge Daily on page 32 of theSun, on Friday, 17 November 2006.
We wish to clarify that the Company is always evaluating opportunities to enhance its shareholders' value but the Board of Directors has not deliberated on the capital repayment proposal as envisaged in the article.
In the event of any such proposal, due announcement will be made accordingly.
This announcement is dated 20 November 2006.
Query Letter content :
We refer to the above news article appearing in The Edge Daily, thesun page 32,
on Friday, 17 November 2006, a copy of which is enclosed for your reference.
In accordance with the Securities Exchange's Corporate Disclosure Policy, you
are requested to furnish the Securities Exchange with an announcement for
public release confirming or denying the above article after due and diligent
enquiry with all the directors, major shareholders and all such persons
reasonably familiar with the matter about which the disclosure is to be made in
this respect. In the event you deny the above article or any other part of the
above reported article, you are required to set forth facts sufficient to
clarify any misleading aspects of the same. In the event you confirm the above
article or any other part of the above reported article, you are required to
set forth facts sufficient to support the same.
Please furnish the Securities Exchange with your reply within one (1) market
day from the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Group Regulations
TYE/ZM copy to:- Securities Commission (via fax)
© 2006, Bursa Malaysia Berhad. All Rights Reserved.
Moola asked : So does it matter who made the reporting first? Isn't it more important to have financial news with better integrity and not based on uncomfirmed sources?
IT DOES MATTER, When you choose to defame one writer, and leave the other alone. It shows, Malfide INTENT. You are a racist. Dont think yourself as a whistle blower.This is the end of your blog...you can ramble all you want from now on, about barrock, fernandez ect ect. Nobody cares from a proven racist. Atleast we dont. Like the saying goes, if you dare defame them, than do it in the open, like people such as Rocky Bru and Jeff Oii. These are gentlemen bloggers, unlike your kind.
Defamation? I don't think so, not when facts and reasonings are clearly stated.
Racism? This is even funnier and totally avoids the issue.
This blog is clearly getting more and more popular. Keep it up.
This is a multi racial country. Anything can become racial. But I know Moola's intention is good.
Maybe no need to mention names, just cut and paste the original article.
Keep up the good job!
Wah, I didn't even think Francis Fernandez and Jose Barrock are Indians until Mr Anonymous #1 accused Moola of being racist. Come on la, Mr Anonymous#1 - you are the real racist! It's people like you that's running Malaysia down. Don't obfuscate the issue with a red herring racial claim!
Wah! Why so heated up? I believe Moola has done good. I certainly do not see any racism nor defamation in any of his articles.
Moola : Keep up the good work!
Hi Anon,
Quote:
Wah! Why so heated up? I believe Moola has done good. I certainly do not see any racism nor defamation in any of his articles.
=================================
Exactly!
If anyone does not agree to the views posted in a blog, they are welcomed to state why they do not agree.
But..
It's so right disgraceful to curse at someone else mother.
rgds
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