Compugates: Bursa Queries And MD Selling Massive Stake

Posted yesterday evening: Two More Queries From Bursa Malaysia

• Bursa Securities queries Compugates
  Written by Joseph Chin
  Thursday, 11 June 2009 15:31
  
  KUALA LUMPUR: Bursa Malaysia Securities Bhd has queried Compugates Holdings Bhd over the high daily volume in the company’s shares recently.
  
  The regulator said on June 11 investors should take note of the company’s reply to the unusual market activity query -- which would be posted at Bursa Malaysia’s website under the company announcements, http://announcements.bursamalaysia.com -- when making their investment decision.
  
  At 3.20pm, Compugates was unchanged at 7.5 sen with 57.23 million units done.

On today's financial edge: Latest: Compugates group MD sells 38m shares

• Compugates group MD sells 38m shares
  Written by Joseph Chin
  Friday, 12 June 2009 08:43
  
  KUALA LUMPUR: Compugates Holdings Bhd group managing director Goh Kheng Peow disposed of 38.41 million shares in the open market on June 11.
  
  According to filings with Bursa Malaysia, Goh sold the shares in three tranches, comprising of 3.5 million shares, another block of 21.91 million shares and a third tranche of 13 million shares.
  
  After the disposal of the shares, his shareholding was reduced to 561.39 million shares or 26.3%.
  
  Compugates had informed Bursa Malaysia Securities that the recent heavy selling of the shares was due to the revision of margin facilities to the Goh since November last year.

Posted before: Getting Information From Bursa Malaysia Website

Now you can check it out yourself too.

Click here

And as you can see, the group MD is really selling his shares as if the shares were stuck with virus!!!

For example on the announcement on the 9th June 2009, we will see that the MD sold even more shares on that day!!!

And currently the stock is up some 6.7%!!!

With high volume too!!!

Making a mockery of Bursa Queries eh?