Mohd Azizi's comment on PELIKAN. All Comments

Mohd Azizi
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sell business and delist like Litrak?
nazr zach
Pelikan won't be delisted after Mr Loo sold one of his business entity based in Germany which market their product to South America. We estimate we will see Pelikan loose 30-40% from their usual revenue. There are other companies that have 0 revenue for several quarters still listed in Bursa e.g AncomNylex.

What troubling the market is Mr Loo sold its South America business not at minority/our shareholders interest. He did it to accumulate wealth and spend it elsewhere e.g SWIFT where his son owns Persada Sdn Bhd hold majority stake instead of reinvest his earning from recent dividend to grow further. There is evidence to show Mr Loo pumped Pelikan share price as high as 95sen by accumulating Pelikan share the previous year.

There are many ways how share owners want to get quick money from their stocks e.g AirAsia gave dividend MYR3 per share several years ago, then there was EWINT gave dividend and TheEdge found out that the owner of EWINT also have 3 other companies among their biggest stakeholders

Mr Loo Hooi Keat now has 4.83% stake or 42,500,000 shares in SWIFT while his son, Loo Yong Hui still has 35.155% stake or 309,621,102 shares in Persada Bina which in turn owns SWIFT.

I think this is the reason why -> "Swift Haulage launches eco-friendly facilities at Westport, signs deal with Sharp Electronics Malaysia" by Justin Lim / February 20, 2024 | Updated 17 hours ago

This week is Pelikan earning week.
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1 Like · 2 months · translate
Ng Hak leng
Game over ..........
Like · 2 months · translate