Dear Anto Joseph,CEO and members of the Board,
As you know Mudajaya share price has been depressed for many years. Like all faithful investors, I am so disappointed and that is why I posted the attached article on www.i3investor.com and I am writing this letter.
The article I posted on i3investor.com a few days ago has discouraged many investors including Ng Ying Loong from selling the share. As a result, the price has been slowly climbing up in anticipation of the additional profit from the Indian power plant completion.
All investors are waiting for your announcement of the Indian power plant completion and its expected profit which will be a catalyst to move the share price up a little.
I know there are some other ways to improve the share price to benefit shareholders and I would like your Board to consider my suggestions as follow:
1. Give out one bonus share for every 4 shares held.
2. Give out one free warrant for every 4 shares held. You can decide the conversation price later.
3. Since listed, you have not taken the advantage of Mudajaya’s listed status which is like Bank Negara has given you the right to print money to make acquisition and to create more value for shareholders. I am sure there are many good companies which needed financial assistance that you can acquire. Or you can issue shares to buy up some land as you are also in the property business. Imagine you had done that some years ago, the land would have appreciated which will automatically be reflected in the share price.
4. Declare a dividend policy, say you will give out 50% of the annul profit as dividend.
5. Invite one or two clever people to seat on your Board to create more shareholders value and also change the company’s image.
Koon Yew Yin