ANYTHING TO DO WITH NAJIB, 1MDB & IPIC? IN DESPERATE RUSH TO RAISE RM571MIL, KHAZANAH SHOCKS INVESTORS BY SELLING HUGE BLOCK OF CIMB SHARES AT BELOW MARKET PRICE

Folks, Khazanah is selling shares again.  

Towards every year end, Khazanah will sell from their  stash of TNB shares (which was acquired for a song under Dr Mahathir) and make a huge profit. 

This time Khazanah is selling from their stash of CIMB shares. Here is the news.

1.    Khazanah sold 90.52m CIMB shares for RM571m

Thurs, 20 July 2017

Khazanah sold 90.52 mil shares of CIMB in off-market deal at RM6.31 each on Thurs.

shares disposed off at 11 sen below Wed’s close of RM6.42.

block of shares valued at RM571.18 mil.

Khazanah offered for sale the block at RM571m (US$133m to US$136m) block in the RM6.31 to RM6.42 per share range.

IFR reported price represents 1.7% discount to pre-deal close.

Read more at http://ift.tt/2gYhm25

My comments : They sold the huge block of CIMB shares at 11 sen BELOW market price.  Kenapa pula? 

Remember when the other fellows were BUYING shares (that Eagle High, those IPPs etc) they paid ABOVE market prices?  One of their reasoning was that they had to pay ABOVE market to buy huge blocks of shares. 

Using that same argument, how come they sold a huge block of CIMB shares at below market prices? 

Khazanah obviously needs RM571 million in a hurry. 
Otherwise why sell the shares at below market? 

 

 

 

2. Someone sent me this other information. Thank you.  This is from last year. 

Some Japanese company is canceling some portions of a contract with another GLC.  
The Japanese are lamenting the GLC’s delays and inability to deliver on the contract. Among the complaints by the Japanese are the GLC’s “inability to finance the project”.

This is the calibre of the management running our GLCs. 

http://ift.tt/1PCXAxA

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✍ Sumber Pautan : ☕ Malaysia Chronicle

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