Why Is Maybulk So Active In the Share Market?

Yes, why is Maybulk so active in the share market?

Caught the following announcement on Bursa Malaysia: Dealings in quoted securities pursuant to Paragraph 9.21 of the Listing Requirements

• Malaysian Bulk Carriers Berhad ("MBC” or "the Company”) wishes to announce that the MBC Group has, for the period from 31 January 2008 to 22 December 2008, purchased quoted securities from the open market. These purchases have exceeded 5% of MBC's latest audited consolidated net assets ("NA") as at 31 December 2007, details of which are set out below:-
  
  1. The aggregate purchases for the period from 31 January 2008 to 22 December 2008 amount to RM91.38 million. This represents 5.15% of NA;
  
  2. The total cost of all investments in quoted securities as at 22 December 2008 is RM143.80 million;
  
  3. The total book value of all investments in quoted securities as at 22 December 2008 is RM122.12 million;
  
  4. The market value of all investments as at 22 December 2008 is RM122.93 million; and
  
  5. There were sales of quoted securities during the current financial year and the losses on disposal amounted to RM11.23 million.
  
  This announcement is dated 23 December 2008.
  

Fact from 31 January 2008 to 22 December 2008, Maybulk purchased shares amounting to RM91.38 million.

Aren't you shocked at what it is doing?

Don't you think that the amount is way too much?

Someone once mentioned that Maybulk's management is highly 'reputable'. Well that the fact that Maybulk chose NOT to disclose what they bought and the fact that they bought more than 5% of its total Net Assets as of its audited accounts as at 31st Dec 2007 places a massive question mark over the management. Won't you agree?

And honestly, what does the management of the company thinks they are? Is Maybulk a securities trading firm?

Does the management reckons that they are super traders or super investors?

Well, the fact that they loss some rm 11.23 million speaks volumes about their stock market skills!

Seriously, don't you reckon that Maybulk should stop this?

Look they aren't good, are they? And if so, why dabble in the share market?

Does Maybulk have so much money to lose in the share market?

And if you are a minority shareholder, do you honestly like what you see?

Aren't you appalled by all this?