CME Groups's 1 into 10 Stock Split

Dedicated to Unker TK again. :D

I was just reading this article, 15-04-2008: CME proposes 1-into-10 share split

• 15-04-2008: CME proposes 1-into-10 share split
  
  KUALA LUMPUR: CME Group Bhd has proposed a one-into-10 share split towards increasing the liquidity of the stock.
  
  As at Dec 31, 2007, CME’s paid-up capital stood at RM40.11 million comprising 40.11 million shares of RM1 each. CME said yesterday it would submit an application to Bursa Malaysia Securities for its approval of the proposal within one month.

Ok, the stock is said to have no liquidity.

And if I use my Bursa Station toy, I can see where the issue of no liquidity is coming from. Look at the daily volume chart for CME for the past 3 months.

And if you look at the recent 5 year data, it's no different!


There is simply no volume at all!

And the below is the 5 min tick chart for the past one month for CME.



This simply is a dead stock!

And I guess a 1:10 stock split kinda make sense.

But.... but.... but.... but..... but if you look at the last traded stock price, the stock last traded at 63 sen.

Sixty Three sen.

OMIGOD! A 1 into 10 split for a penny stock trading at 63 sen!!!!!!!!

Is this a world first that a penny stock is doing a 1:10 split?

Speach-less or speach less???

And yeah, Simon would ask after such nonsensical corporate proposals from its listed members, if our market even relevant anymore?

Sigh!