Short Position: Fallout from Ooi’s arrest

TheStar Sat, Jan 25, 2020 08:10am - 4 years View Original


SHARES in British American Tobacco (M) Bhd (BAT) do appear to have been stubbed out by investors, with the once-pricey share, in terms of price alone, hitting multi-year lows.

Fallout from Ooi’s arrest

THE nature of the suspension of ATTA GLOBAL GROUP BHD and Heng Huat Resources Group Bhd last week came as a surprise. This week, further disclosure on why the Securities Commission (SC) ordered for the two stocks to be suspended is shocking.

According to announcements, the police have remanded Ooi Chieng Siem, who is the executive chairman of both companies, to assist in investigations connected to drug-related offences. Ooi’s personal accounts and share trading accounts have been frozen.

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