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View Full Version : Transmile shares dive 23% on FY06 results fears



sirgalahad2010
09-05-2007, 01:02 PM
According to a Spore Business Times (http://business-times.asia1.com.sg) report today, there are fears that Transmile Group may have overstated its numbers for its 2006 financial year.

On May 4, doubts surfaced over the accuracy of Transmile's unaudited results for the year ended Dec 2006. The company's shares were suspended Monday and put back in trading yesterday.

Apparently, there are doubts about the company's P&L and balance sheet, due to uncertainty about some of its receivables or sales and capex and related assets.

Key shareholders of Transmile, according to the Business Times report, include Robert Kuok (17%), Pos Msia (15%), JPMorgan Chase (7.7%) and the Capital Group (7.1%).

jararaca
09-05-2007, 03:22 PM
Throw...throw throw.

aurora97
09-05-2007, 05:41 PM
Someone over-cooked the books, i believe at this moment the directors, accountants and auditors are half way around the world by now before the Malaysian enforcement agencies can catch up with them.

Smells like Malaysia's Enron.

new3
11-05-2007, 03:43 PM
The foreign funds are panic selling bcos they do not know what to expect from outcome of the re-audit. They have always done so with other companies with similar problems. But here you're talking about Transmile not any second boarder company. And guess who's happily buying more shares at lower prices? Robert Kuok, who already has 17% stakes. Ha! Ha!

aurora97
11-05-2007, 06:12 PM
The foreign funds are panic selling bcos they do not know what to expect from outcome of the re-audit. They have always done so with other companies with similar problems. But here you're talking about Transmile not any second boarder company. And guess who's happily buying more shares at lower prices? Robert Kuok, who already has 17% stakes. Ha! Ha!

By right such an event should not have taken place and Transmile should not have lost 30% of its value to date.

Whether first or second board the company is listed or who has a stake is irrelevant, it all boils down to the figures and the many shareholders who have invested their money in that company.

USJ27Resident
12-05-2007, 02:09 AM
The foreign funds are panic selling bcos they do not know what to expect from outcome of the re-audit. They have always done so with other companies with similar problems. But here you're talking about Transmile not any second boarder company. And guess who's happily buying more shares at lower prices? Robert Kuok, who already has 17% stakes. Ha! Ha!

Yup... possible insider trading? - or this was meant to happen, to push down the price...

anyway, have a pilot friend working for transmile... he says everything is hunky-dory at transmile... will monitor this stock ~ shud be a good price to pick up in a day or two...

sirgalahad2010
12-05-2007, 03:33 PM
Transmile has got valuable 5th freedom rights from China to the US. I wonder if that's only for cargo, or includes passengers as well?

Can you imagine the money that can be made by airfreighting goods from China to the US?