MQTECH (0070) - 大件事！ - MQ Technology Bhd plunge 31%, warrant crash 58.33%. Director resign. Clans disturbed?
14 December 2016, Penang, Malaysia. Electronic manufacturing company MQ
Technology Bhd (MQ TECH) today announced the company confirmed mis
leading article published on The Star titled "MQTECH DISCUSSING CASINO
PLAN WITH NAGACORP" appearing in The Star, StarBiz Section, Page 4,
Wednesday, 14 December 2016, in particular the sentences as reproduced
“Ace Market-listed MQ Technology Bhd (MQTech) is in talks with gaming
giant NagaCorp Ltd over plans to build a casino in its new integrated
resort and entertainment project in Cambodia.”
MQ TECH on market closing clarified "We wish to inform that we are not
in talks with gaming giant NagaCorp Ltd over plans to build a casino in
its new integrated resort and entertainment project in Cambodia."
The article has seriously confused investors, in line with MQ TECH
share volume and price increase, a clear market manipulation. More
serious issue arise when the monopoly of Cambodia gaming industry within
certain area have disturbed and made fool of investors and stakeholders
of the NAGACORP, many believed linked to tribes and clans business
interest in South East Asia, especially Malaysia.
Such dispute also raise questions about Cambodia sovereign credibility
issues, which awarded NAGACORP monopoly status, as well as the validity
of the news involving another Cambodia company which legally impossible
to obtain any gaming or casino license on the specified area.
The Executive Director of MQ Technology Bhd, Teh Eng Huat, has also
resigned suddenly. Teh Eng Huat was among the few shareholders
subscribed to MQ Technology Bhd Right Issues recently, with well
undersubscription, resulted in majority close to 75% of the MQTech
shares held under less than 5 persons name, potentially breached
mandatory general offer, or take over code.
MQ Technology Bhd plunge 31%, warrant crash 58.33% in a single day.
Bursa Malaysia have not issue any Unusual Market Activity (UMA).
Market is worry about serious share speculation and news manipulation
similar to the CIMB Investment Research probe. On 1 December 2016,
according to The Star (the same newspaper who published above mis
leading information) titled "SC and (CIMB) bank probe Vivocom research
report, analyst relieved of duties". Market is concerned if Bursa
Malaysia will take further action and give the general public clearer
answers.
Flash News Alert ！！！
Refers to: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5289117
OTHERS MQ TECHNOLOGY BERHAD (MQTECH OR COMPANY) ARTICLE ENTITLED "MQTECH DISCUSSING CASINO PLAN WITH NAGACORP"
| MQ TECHNOLOGY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description |
MQ TECHNOLOGY BERHAD (MQTECH OR COMPANY) ARTICLE ENTITLED "MQTECH DISCUSSING CASINO PLAN WITH NAGACORP" |
|
MQ Technology Berhad (“MQTech” or “Company”)
We refer to the news article entitled "MQTECH
DISCUSSING CASINO PLAN WITH NAGACORP" appearing in The Star, StarBiz
Section, Page 4, Wednesday, 14 December 2016, in particular the
sentences as reproduced below :
“Ace Market-listed MQ Technology Bhd (MQTech)
is in talks with gaming giant NagaCorp Ltd over plans to build a casino
in its new integrated resort and entertainment project in Cambodia.”
We wish to inform that we are not in talks
with gaming giant NagaCorp Ltd over plans to build a casino in its new
integrated resort and entertainment project in Cambodia.
However, we also wish to inform that our
wholly-owned subsidiary, Star Acres Sdn Bhd (“SASB”), had on 12 December
2016 entered into a Memorandum of Agreement (“MoA”) with Cambodian
Resort And Entertainment Co., Ltd (“CRE”) to collaborate on the
development and management of a theme park in the Kingdom of Cambodia.
For further details of the MoA, you may refer to MQTech’s Announcement made on 13 December 2016.
This announcement is dated 14 December 2016.
|
|
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5289077
Change in Boardroom
| MQ TECHNOLOGY BERHAD |
| Date of change | 14 Dec 2016 |
| Name | MR TEH ENG HUAT |
| Age | 47 |
| Gender | Male |
| Nationality | Malaysia |
| Designation | Executive Director |
| Directorate | Executive |
| Type of change | Resignation |
| Reason |
Due to his other commitments and responsibilities |
| Details of any disagreement that he/she has with the Board of Directors | No |
| Whether there are any matters that need to be brought to the attention of shareholders | No |
| Qualifications | |
| Working experience and occupation | |
| Family relationship with any director and/or major shareholder of the listed issuer | |
| Any conflict of interests that he/she has with the listed issuer | |
| Details of any interest in the securities of the listed issuer or its subsidiaries |
Direct Interest :100,960,000 (24.341%) |
Announcement Info
| Company Name | MQ TECHNOLOGY BERHAD |
| Stock Name | MQTECH |
| Date Announced | 14 Dec 2016 |
| Category | Change in Boardroom |
| Reference Number | C03-08122016-00003 |
http://www.thestar.com.my/business/business-news/2016/12/01/sc-and-bank-begin-probe-on-vivocom-research-report/
Thursday, 1 December 2016
