Ranhill Answers: Our Financial News Being Used To Drive The Stock Higher!

Blogged on Saturday, Ranhill: Our Financial News Being Used To Drive The Stock Higher!

The stock closed up 15 sen or 11% at 1.42.

On Thursday, the stock was worth a mere 96 sen!

So thanks to that report where unnamed sources suggested that Ranhill could be taken private, the stock gained 46 sen in two trading days or 47.9%!!!!!!!!!!

Ranhill today gave an absolute incredible reply in my opinion!

• We refer to Bursa Malaysia Securities Berhad (“Bursa”)’s letter dated 25 July 2008, querying on the article that appeared in The New Straits Times, Biz News section at page 40 on Friday, 25 July 2008, particularly the caption below –
  
  “Ranhill Bhd is close to being taken private by controlling shareholder Tan Sri Hamdan Mohamad in a deal that can be worth about RM420 million,…”
  
  “…is working out the details to take it private within the next three to four months.”
  
  As we have advised in our response to Bursa’s query on similar nature of newspaper article sometime in January 2008, we are constantly exploring opportunities in seeking for any proposals that may contribute to our objectives to enhance and boost our shareholders’ value. The requisite announcement to Bursa will be made in accordance with Bursa’s Listing Requirements once a decision has been reached on the appropriate proposal and strategy.

The reply to the query was simply vague and inadequate.

Said by Ranhill management..

• we are constantly exploring opportunities in seeking for any proposals that may contribute to our objectives to enhance and boost our shareholders’ value.

Constantly exploring opportunities?

Huh?

What exactly does it mean?

Why can't the management acknowledge or deny the rumours?

Why?

Is that so hard to answer?