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I tried to warn you...dont want to listen...now how? LKT have 73%... His vote alone will deny any dividend payout in the future. Holding Co have a dozen plans pertectly legal ways to extract profit and cashflow from subsi. This will ensure company would still be profitable and not trigger PN17. Past few day, can see a lot of huge lots being traded. Can you guess who is selling? More importantly, who is buying. LKT is not....but could it be his kawan kawan? They can use it to play mahjong coming CNY... 1 fan = 10 lot.
If he call for EGM and propose a special reso to voluntarily delist. It need 75% vote...he already have 73%...few of his mahjong kaki combine would have 3% and that reso will pass thru. Then what happen to all the ikan bilis shareholder? You hold shares in Sdn Bhd ar? You put money in FD you can get 2.5% return... You keep your money here 10 years also you get nothing. NO DIVIDEND WILL EVER BE DECLARED!!! He have the power to decide. If he feel like want to do some charity... He will give some bones for you to eat. If his mood no good, you eat sand la. You want to sell your shares? Its unlisted, he tell you he willing to buy at RM0. 1, you sell mou? If don't sell, you bring to your grave. If you sell, your heart pain until you go to your grave. Still dreaming of this share will go up to RM3+ because of the US casino license? Yes... Valuation say its worth that much but who want to buy shares that will never pay out dividend? All the accounting ratio can be very good... Valuation by independent analysts all will tell you its worth more. So what? No buyer!!!!
LKT with 73...his driver with 1...another 5 person with 1 each... All vote. The 5 vote against... That's only 5 against 79...result 0.06% against and 99.04% approve. How many people need to be there to vote against to reach 10%?