I read with great amusement of what one forum member had posted on Sahamas regrading my blog posting, Do you think that Bursa should take action against misleading reporting?
Posted by Stockraider1,
- Dear Moolah,
I read with great amazement on your compilation of Jose Borrock reporting today and suggesting SC to take action.
1)Why SC wants to do that ? Jose had done a great job exposing the rumor and killing it!
2)Just bcos of someone misdeeds(insider) u try to blame it to the reporter ! If u are the reporter is it fair.
3)stopping the reporter from reporting misdeeds (rumor)is wrong is like we preventing catching the robber ? Come on lets bark at the right culprit!
4)Taking out a reasonable efficient solution (query confirmation) without putting up an alternative is a disservice to the capital market.
5)the public or is it the stock operator ? Need to be prudent of relying on sensitive info (rumor) which need verifications-If u want to wait for accurate facts please wait for confirmation b4 committing to buying.If u want to speculate who can stop u ?
6)For those people who wants to invest on pure reasonable good accurate facts my suggestion is to rely on Bursa announcement release every day!
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7 comments:
I think reporters have certain unwritten code ethics in reporting. To write report solely based on rumors is truly unethical. Imagine if all reporters in the country start writing story based on rumors.
What’s puzzle me is why bursa did not take any action against these so-called reporters? Does this means that anybody can start spreading rumors about anything in this country?
I have a friend who is a reporter for a major daily newspaper in Malaysia. There was one time when I asked her how she would write a report when she hears rumors on certain issue. She told me that it is a common practice for reporters to confirm the rumors with few people which is reliable and check out the fact themselves before publish it in the newspaper. If they can not confirm the news, they would just ignore it.
The responsiblity of timely release of price sensitive information lies with the listed company. Theirs is not to confirm or deny any hearsay or gossip, unless instructed to do so by the Security Commission. A rumour is usually an unsubstantiated truth unlike hearsay or gossip.
To publish hearsay and gossip is to amplify and assist in its spread as intended by the irresponsible parties who has taken an early position to profit from it.
The fabricated news has now achieved the optimum effect desired - a nationwide spread of hearsay and gossip.
The denial is expected as it is hearsay and gossips not rumours.
A veteran investigative reporter should report with responsiblity.
So is the reporter new to this business?
Is he so naive as to be ignorant when reporting?
Most of all is there a vested interest?
1)Why SC wants to do that ? Jose had done a great job exposing the rumor and killing it!
>Exposed it or spread it? Can you differentiate? Exposing it would be saying, "We CANNOT confirm the rumours." Spreading it would be what he did - telling other people unconfirmed stories aka rumours and doing it in the national press which would lend legitimacy to the rumours.
2)Just bcos of someone misdeeds(insider) u try to blame it to the reporter ! If u are the reporter is it fair.
>It is the reporter's job to report the truth or as much as he can verify. If the reporter is constantly "tricked" by his "sources", isn't it time to reevaluate what he's doing? So, if your good friend constantly tells you to let other friends know that he's collecting money for charity but he always pockets it in the end and you know it after the first few times, will you continue to do it? That would make you an accomplice, even if you didn't profit from it.
3)stopping the reporter from reporting misdeeds (rumor)is wrong is like we preventing catching the robber ? Come on lets bark at the right culprit!
>The reporter was repeating the rumour. Not reporting that the rumour was false. Please differentiate.
4)Taking out a reasonable efficient solution (query confirmation) without putting up an alternative is a disservice to the capital market.
>I don't get your point here. Moolah seems to be the one pointing out the discrepancies in the reporting. Not the reporter.
5)the public or is it the stock operator ? Need to be prudent of relying on sensitive info (rumor) which need verifications-If u want to wait for accurate facts please wait for confirmation b4 committing to buying.If u want to speculate who can stop u ?
> No one is stopping anyone from speculating but if the speculation is sourced from a rumour printed in the national papers, then something is wrong somewhere.
6)For those people who wants to invest on pure reasonable good accurate facts my suggestion is to rely on Bursa announcement release every day!
> Yes, they should check their sources but did you see what was highlighted? Some of the figures were totally wrong. How do you figure that? Mistakes do happen but if it happens repeatedly, then you need to question the competency of the person making them. The onus will always be on the investors to check the figures but a supposedly trusted and reliable like a national paper should be more trustworthy. If you can't trust what you read in the business section, what makes you think you can trust the other sections?
You just cannot jump into a counter without first doing your research. While waiting for confirmation or denials from the company or announcements from Bursa, it is best that we be cautious.
Take the example of JAKS. Read what the company said and use your judgment to validate his opinion.True, it is the only local company right now poised to supply pipes for the Pahang Water Transfer Project. However, there is nothing to stop new companies from setting up shop within the next few years to bid for those water projects as well. The market is dynamic and things can change.
For JAKS, looking at its accounts and performance,it certainly is the best bet to win sub-contracts not only for Langat 2 but all over the country. Moreover, it is only trading at 80 sen. Low risk and good counter to play for the next 6 to 12 months. Expect a re-rating of the stock, for sure.
So use your common sense and do not behave like sheep being led to the slaughterhouse....
guys, what Capital Research and Management Company see in Transmile at this moment? looks like it is acquiring more and more Transmile stocks...interesting
Why only blame the reporter? What about the editors? If they don't give the go ahead, do you think the story can see the light of day?
Swifz,
Why only blame the reporter? What about the editors? If they don't give the go ahead, do you think the story can see the light of day?
==>
The main objective of these series of postings is to highlight to everyone the shenanigans that goes on!
Regarding the blame isssue.
I leave this issue open for interpretation(s).
Main issue right now is what are we going to do about it?
rgds
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