Comments On Mega First Insane Trading

Comments from the posting: What Do You Seriously Think Of Mega First's Insane Trading Of Quoted Securities?

• solomon said...
  One would argue that what is the difference if I put the money for investment house to invest and now I invest myself(MFCB)? On the other hand, minorities might be shouting give us back the money ya.....
  
  This is a definite grey area where it needs immediate address by the Lawman. We need a good channel for the betterment of a world class trading platform, if not today when are we going to???

Yes exactly. However..

1. MFCB is not an investmend house.
2. What exactly is being bought and sold?
3. Any conflict of interest issue?
4. The size of the trading is insane. It's already more than 5% of its net assets.
   

• This is a definite grey area where it needs immediate address by the Lawman. We need a good channel for the betterment of a world class trading platform, if not today when are we going to???

Sadly... MFCB is not the only company. And here lies the problem.

Are we going to wait till one company goes bust before we act?

Take Yung Kong: http://whereiszemoola.blogspot.com/2008/08/listed-companies-investments-yung-kong.html

• So from 1999 to 2008, despite witnessing one incredible bull run, Yung Kong's unknown investment paper loss has increased from 7.94 million to a whopping 22.79 million!

Same thing. What investment is this? Why can't Yung Kong be more transparent?

Anyway, the posting made on Yung Kong was on Aug 2008. Here's the latest update.

• Total investments at cost 42,200
  Total investments at carrying value/book value (after provision for diminution in value) 23,515
  Total investments at market value at end of reporting period 19,135. (source: here )

And as expected, it is still carrying HUGE paper losses!!!

How?

I could post more companies dabbling massive sums on investments that the investing public has no idea on what's happening.

Yeah... when will we see something done about this issue?

And if from a pure investing perspective, I would really, really hate to see the company I invest in taking part in such unhealthy activities and yes, I would vote with my feet immediately!