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-- Composers and Lyrics: Pak Ngah/Siso Kopratasa
- Why was Avenue shares undervalued and ECM Libra overvalued by goodwill?
- Why was there a "rigging" of ECM Libra shares in the market prior to announcement?
- Why was the rather unfair term for purchase term on Avenue to buy ECM subsidiaries?
- Why was the EGM proceeding at Avenue filled with improper procedures?
- Why was "biased" valuation recomendation by Adviser K&N Kenanga accepted by SC?
- Why was it that it seemed from the eye of many shareholders a "collusion" by various authorities has occurred?
There is also the issue of incongruence with the BNM and SC plans for the Securities and Banking Industry.
After the "Takeover" is completed, the merged entity ECM Libra - Avenue suffered RM15 million losses for Third Quarter ending October 31st, 2006. Some 23% of staff were laid-off.
- Whose side did the loses came from? ECM Libra or Avenue Capital?
- How much has ECM Libra's Boutique Investment Banking enhanced the Government's asset?
- What happened to the much hyped Investment Banking license?
- Why the need to lay-off staff?
- Whose staff was affected? ECM Libra or Avenue Capital?
February 26th, 2007 10:00 a.m.
As Shahrir said Nor Mohamed had said that there was nothing unusual in the ECM Libra-Avenue Capital merger.
"The Securities Commission had given clearance for the merger," he added.
Another issue raised was the merger between ECM Libra and the government-owned Avenue Capital. On this, Shahrir said Nor Mohamed explained that there was nothing unusual about the deal since it had obtained clearance from the Securities Commission (SC).
"To say we are satisfied (with the explanation given) is not right since the PAC consists of representatives of various political parties. We all have a different degree of satisfaction. The government feels that since the SC had no objection and the majority of shareholders of the two companies want to merge, the merger should take place without any interference," he said.
February 27th, 2007 11:00 a.m.