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The Edge published their own opinion on BAHVEST. Lo is in trouble, I tell you. Lo told The Edge that he was confident of winning the support of shareholders. It does not seem to be the case. hahaha
Among those seeking the ouster of Lo and the other directors is Datuk Freddy Lim, a seasoned hand on the Sabah corporate scene. Better known as Freddy, he is not known for going into a corporate battle without first having done his homework.
absence of a lease agreement or lease or license to occupy the Southsea Gold mine. Lo is going to jail.. Bursa CC a copy BAHVEST reply letter to SEC. Don't forget to stock KY gel nnti..
I malas cakap la.. BAHVEST beli Wullerdorf dari Lo wqhich Lo was their owner at MYR95mil. BAHVEST x bayar cash tp bg Lo ekuiti. I tak tau apa diorg fikir. Bila beli, BAHVEST x ada check Lease letter yg menunjukkan Wullerdorf bleh operate dlm Southsea Gold!!!!!
fei fun, the area has gold deposit. they have been extracting gold all this while. when a public listed company wants to buy another company, we must do due diligence. BAHVEST didn't do proper due diligence. they take Lo's word for granted since Lo also owned Wullerdorf at that time. that's why there were no letter of landlease. My guess is Southsea Gold appointed Wullerdorf as their subcontractor to extract gold there.
now, Bursa asked for Letter of Demand from BAHVEST which issued to them from Southsea Gold. Bursa also already notify SEC by extending their query to BAHVEST.
Lo conned everybody.
Company Act stated that the Board of directors who are found guilty of misconduct can be punished for imprisonment or fines or both. Is just a paper. Never happened in Malaysia. Stupid law.
let me tell you what Lo has done to us. Lo is planning to issue ESOS up to 25% of their shares to directors and management only. Lo also bought a lot of warrants. Freddy Lim stopped Lo's move. And Freddy and his friends are planning to appoint new directors from Kretam in BAHVEST. Kretam is a good company I tell you. Lo conned us for his own gains. Selfish mf
13 June EGM, whoever has the majority share will win.
if Lo geng win, business as usual
If Lo geng loose, Bahvest sub lease still valid and if Lo decline to cooperate to continue mining, nobody will benefit. So Lo needs to allow mining to go on to make money otherwise if State revoke the lease, nothing left.