Tuesday, September 02, 2014

We All Got Cheated

In the 3rd quarter ended March 31, 2014,  SEAL made RM117.339 before tax. EPS after tax = 24.84 sen. 

In the announcement made to Bursa on May 30, 2014, the Management of SEAL said as follows:

"Barring unforeseen circumstances, the Board expects continued improvement in the Group's performance in the remaining quarter. The Group continues to focus on and enhance its main core business, while exploring for new resources to generate sustainable income."

Then on August 27, 2014, the company announced that in the 4th quarter ended June 30, 2014, the company lost RM2.487 million for the quarter.

What a wonderful turn around!!! What happened? Ask the management.

Can we trust them again? What are they trying to do? Pump and dump in the 3rd quarter? And then depress and buy in the 4 quarter? You decide.

Misleading and irresponsible statements should be construed as part and parcel of fraudulent accounting which is a serious crime.