Update on MIDF

My Dearest Moo Moo Cow,

Remember the series of blog postings on MIDF? ( Click here )

Well to make it short, MIDF has always denied the rumors published in our fantastic financial news.

• We refer to the query from Bursa Malaysia Securities Berhad ("Bursa Securities") dated 19 March 2007 in relation to the above article appearing in The Star (Bizweek, page BW4) on Saturday, 17 March 2007 ("Article").
  
  We wish to inform that MIDF is not in a position to make any comments as MIDF is not involved in any manner on what has been reported in the Article. At the same time, MIDF has not been advised by its shareholders or any other parties of any corporate exercise in relation to the Article.
  
  As requested by Bursa Securities, we will make enquiry with Permodalan Nasional Berhad ("PNB") in respect of the above matter and will make the necessary announcement upon receiving a response from PNB.
  
  This announcement is dated 20 March 2007.

Posted on today's Business Times. ( here )

• PNB: We're not buying out MIDF
  By Kamarul Yunus
  ahmadk@nstp.com.my
  
  April 11 2007
  
  PERMODALAN Nasional Bhd (PNB) is not buying out investment bank MIDF Bhd, PNB's chief executive officer Tan Sri Hamad Kama Piah Che Othman says.
  
  He said MIDF is already under PNB's stable of companies.
  
  Neither does PNB have any immediate plan to increase its existing stake in MIDF.
  
  Hamad Kama Piah was responding to recent reports saying that PNB was planning to buy out MIDF or raise its stake in the investment bank from the present 70 per cent it holds.
  
  PNB was said to be planning a RM600 million buyout bid for MIDF, paying about RM2 per share.

See the last sentence...

• PNB was said to be planning a RM600 million buyout bid for MIDF, paying about RM2 per share.

So who exactly were spreading these rumors out?

Why did our financial newspapers carried such un-confirmed stories?

Shouldn't the stories have CREDIBLE SOURCES?

How my dearest Moo Moo Cow? Don't you find it all so disgusting?

Sigh!