Investing

Koon’s response to all his critics

As much as I dislike to respond to all my critics, I have to because a sincere friend pointed out to me that Calvin Tan has written a long piece to justify his belief that planting durian is better than to buy JAKS.

The above chart shows that JAKS has gone up from Rm 1.00 to Rm 1.76, an increase of 76% within 3 months and it is still going up as I am writing. It has gone up 9 sen with 5.4 million shares traded after about 1 hour of the opening bell.

I have not been buying JAKS in the last few days. The average daily shares trade is about 5 million. There must be a lot of people buying so aggressively. Only Funds can buy in such big volume.

You can see JAKS’ announcement on Bursa that my last purchase of 1 million shares was on 31st March and my largest purchase of 6.97 million shares at Rm 1.06 was on 28th February when the total volume traded was 49 million shares. The share price plunged like a bomb because JAKS announced its loss for year ending Dec 2016. There must be a lot of foolish sellers including Calvin Tan, Charles T, Stockraider etc who could not see beyond their noses that JAKS could shoot up from Rm 1.06 to close at RM 1.76 in the last 5 weeks.

As reported my wife has bought 39.5 million and I have bought 89.7 million, totalling 129.2 million shares. If the daily average volume traded was about 5 million shares, I could not have bought all of them to push up the price, as one idiot said that I have been buying to push up the price.

This case reminds me of the other critics when I posted articles about my purchases of Latitude Tree, VS industry and Lii Hen. I became the 2nd largest shareholder of each of the 3 companies. Latitude shot up more than 800% within 30 months and Lii Hen also went up more than 800% and it is still going up.

The above chart shows that VS has gone up from 30 sen to Rm 1.80, an increase of 600% and it is still going up. In its 2015 annual report, you can see that I owned 102 million shares.

As I said, this case of JAKS reminds me of all my critics when I posted articles about Latitude, VS and Lii Hen. I remember some of the names such as Murali, Timekoon, Koondo and others. They have disappeared and in fact, one committed suicide because my track record proved them wrong.

Common sense will tell you that it is impossible for me to convince so many people to buy Latitude, VS, Lii Hen and JAKS to push up the share prices a few hundred percent within such a short period of time.

I cannot be so dishonest to ask readers to buy any share so that I can sell.

I would like you to look at my brief CV.

I have reached the highest status in my profession as a member of the Board of Engineers Malaysia for 3 terms. I am an examiner in Malaysia for the Institution of Chartered Engineers UK. I examined and passed the Ipoh City Engineer about 20 years ago.

I was a member of SIRIM for drafting the Malaysian Standards for Cement and Concrete.

I was a founder director of Mudajaya, Gamuda and IJM Corporation Bhd. The market capitalization of IJM Corporation Bhd is about Rm 12 billion.

I have been the Secretary General of the Master Builders Association Malaysia for 9 years. The MBAM has invited me to give a talk at 10 am on 15th April 2017 and the entrance fee is Rm 300 per head.

After reading this piece, all my critics must realise that they are still so poor because they doubted my sincerity.

As the English saying “Don’t throw pearls to swine”. This is my last pearl for my critics.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

To Top