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From my understanding of the announcement, the cash payment is only stopped for the major shareholder account, which is highly possible belongs to Wong.
The margin accounts broker might have opt for cash payment to cover the margin, but Wong wanted DRP. Getting shares instead of cash will save the cash for Zetrix, at the same time increasing his margin account value.
I can't understand why some people are saying everyone is not receiving the cash.
Zetrix is too important to fall now, Malaysia Blockchain Infrastructure ( MBI ) and Bullish Aim collaboration of RMJDT stablecoin rely on Zetrix blockchain platform.
Zetrix has been heavily shorted this year, currently total RSS is at 185M units, second top in Bursa behind Gamuda ( Gamuda shareholders take note ). Short sellers might have been engineering this fall because they already noticed TS Wong using margin and share pledged for financing.
Given that the attack was done on Friday, right before the long holiday, TS Wong might be able to find white knight to save the company share, maybe Bullish Aim will step in.
Given that this is a rare occurrence in Bursa, phrase like don't catch the falling knive doesn't apply here, the knive is already on the floor, waiting to be picked up or left rusted there.
So what do you think? Rebound tomorrow or 0.5 sen tomorrow?
Went to Ulicorp site last Sunday to check on the new factory, apparently the project has stopped.
Seeing the current QR, I'm able to understand why the expansion has stopped.
Although profit is high, but revenue is lower, which translate to reduced order book.
If management proceeds with the expansion , there will be over capacity.
My take is, the will be no growth for short to mid term.
Good thing is dividend is consistent.
