Baru-baru ni, kita saksikan satu company mengalami satu peristiwa yang tak pernah berlaku di Malaysia...ia berlaku kepada satu syarikat yang bernama Kenmark Industrial Bhd....

Cuba kita tengok apa yang berlaku kepada harganya dulu....daripada about RM0.90, dia turun kepada about RM0.80, lepas tu, turun kepada RM0.60. Itu permulaan kejatuhan teruk harga share Kenmark....lepastu, hari ke-3 kejatuhannya dari RM0.60++ kepada RM0.33...hari berikutnya, jatuh kepada RM0.095...Dan hari ke-5 (Selasa, 1 June 2010), pada bukaan pagi, harganya OPEN at RM0.035....WOWW....and you guys know what, I followed the price VERY CLOSELY....

I thought this is a very good opportunity...opportunity to buy...at the open price of RM0.035, I saw so many buyers....not really so many buyers, but so many shares being bought...buying interest bertambah....di sebelah pagi, dari RM0.035 dia naik kepada RM0.06...lepas tu, pricenyer turun balik ke RM0.04 pada pukul 3ptg lebih....tapi naik balik kepada RM0.06, dan tutup pada harga RM0.06....satu kenaikan yang menguntuntkan kepada mereka yang beli pada harga RM0.035 atau 0.04....hehe....did i buy? hmm...sorry, can't tell here....

On wednesday, the price open at RM0.05, pastu turun kejap kat RM0.045, then naik kepada RM0.07, pada pukul 12.30 tghhari....AURA nak sambung naik kelihatan :D....

Pukul 2.30 ptg, Share KENMARK, turun kepada RM0.065, pastu terus naik kepada RM0.09.....WOWW.....lepastu, pada pukul 3.30-4ptg, harga sudah melonjak kepada RM0.13...WOWW....superbb, hehe :D...tapi profit taking took place, harga turun balik kepada RM0.105, dan ditutup pada RM0.115...

On Thursday, counter suspended, no trading....

On Friday, kenmark open at RM0.21...woww....then turun 0.205, then naik kepada RM0.29....dlm masa stgh jam sahaja.....lepas tu profit taking, price turun kepada RM0.245, then slowly naik baik kepada RM0.29, malah cecah RM0.295....lepas tu profit taking balik, go back to RM0.255,and closed at RM0.26 for the day.... CUba bayangkan kalau ada yang beli share pada harga RM0.035 atau RM0.04, dan masih pegang sampai skrg iaitu RM0.26....kalau invest RM3500 pada harga 0.035, skrg sudah harga RM0.26, bermaksud, value share sudah bernilai RM26k...Kalau masuk Rm35k, skrg sudah bernilai RM260k....

Anyway, dalam masa seminggu macam2 cerita keluar ttg KENMARK:

- first, price go down from bout RM0.90 to RM0.33,nobody knows why....
- then, price go down to RM0.095, sblm recover kepada RM0.105,BURSA noticed and SUSPEND the counter for the day....BURSA query Unusua Market Activity (UMA)....
- Check punya check, Managing Director KENMARK, a Taiwanese, hilang entah ke mana, tak dapat dihubungi...Meeting yang sepatunyer berlangsung weekend aritu, tak dpt berjalan,kerana hanya ada 2 org hadir.
- Bila diperiksa, MD hilang entah ke mana...Banyak management sudah resigned...WWOWWW... - pergi ke rumah MD, rumah dah kena sealed oleh EON bank....
- Hari Isnin, 400+ pekerja yang datang nak mencari rezeki di Kenmark, TERKJUT besar....company kena locked...aduhai...semua pekerja tekejut, tak sangka boleh jadi begini...duit gaji baru aja dpt, semua org dpt gaji, takde masalah....ramai pekerja2 lama, ada yg dah kerja about 2o yrs, pon risau...
- Antara bad news, KENMARK workers file RM1.4million claims...creditor claim RM20mil...hutang banyak....
- tapi tetiba hari Rabu keluar good news (as I expected, judging from the buying interest and the price increase)..antaranya, MD contact director Kenmark,mengatakan dia sebenarnya di China,tengah sakit....
- good news lain, MD lantik 1 org chairman and 3 org director...
- good news lain keluar semalam (Jumaat),mengatakan Ishak Ismail (bekas director KFC kalau tak silap) beli 32% shares in OPEN MARKET.....mungkin tu antara sbbnyer market jump giler2....IShak beli time tu harga shares bawah RM.10....
- Lepas tu harini (Sabtu) keluar lagi satu good news, after meeting yang baru berlangsung....mengatakan "Kenmark workers being called back to work"...
- ada soal jawab masa Press COnference (http://biz.thestar.com.my/news/story.asp?file=/2010/6/5/business/6405905&sec=business), antara the STAR BIZ WEEK dgn top management yang baru dilantik, yang memberi "HARAPAN" dan "GOOD NEWS" and "some immediate plan" to be taken to solve the problems in KENMARK...

Berdasarkan cerita2 di atas, I think on Monday, the share price may open higher and go higher (even though Wall Street Jumaat mlm aritu tutup -3%)...Kenmark ditutup pada RM0.26, dan masa nak tutup tu pon ada minat belian last2 minute....kalau ada rezzeki, KENMARK boleh naik kepada RM0.30++ malah kalau ada miracle, mungkin boleh limit up (RM0.56), hehe...silap2 dlm masa beberapa hari minggu depan, harga boleh kembali kepada asal RM0.90, haha...

Tapi on the other side pulak, kalau kenaikan harga ni semua hanya mainan sindiket, harga may also go down tu below RM0.20....Apa pon, kita tgk aja Isnin nanti macamana:) But my gut feeling says it may go higher :)


Directors shed some light

AT a hastily arranged press conference yesterday, Kenmark Industrial Co (M) Bhd’s newly appointed directors sought to shed light on their plans to turn around the company and to explain some of the puzzling developments that had plagued the company over the last few days. Below, excerpts from the press conference with Datuk Abd Gani Yusof, Woon Wai En and Ho Soo Woon:

SBW: What is the priority at this point?

Gani: It is to see how fast we can commence operations. We are also accessing the situation and will release statements as new developments happen.

Who gave you access to start operations? Have operations actually started?

Datuk Abd Gani ... ‘If out customers and banks support us, I believe we can turn the company around.’
Gani: We met key members of management and we asked them what is required to restart the production. We will take it from there. Management is supposed to do an assessment of various departments, the equipment, and the personnel required. Some new recruitment may be needed.

Are there enough raw materials, enough workers?

Ghani: I can’t answer that yet. We are meeting management on Monday to see where we stand and decide whether there is a need to purchase more raw materials or get more workers.

Where will the funds for the operations come from?

Gani: As we saw yesterday, we have enough machinery and raw material stock. There are also some debts that can be collected. Any additions will have to be reviewed as we go along.

What’s the situation with Kenmark’s creditors?

Gani: We are not under any threats from creditors. The term loan with EON Bank was taken for our factory in Port Klang. And that too, is well secured.

Have you defaulted on any of your debts?

Gani: We have not.

So why did the bank come out with this notice to secure the premises?

Gani: They had to once they found out there was no management in charge and nobody is looking after the business. Somebody has to look after the asset that is charged to the bank.

It’s been reported that key management has resigned. Is this true?

Gani: We talked to key management yesterday, and they told us none of them have resigned. Only one person resigned, and we asked her to come back and she is willing.

Doesn’t Kenmark have to meet orders from customers in time?

Gani: We only have one order to deliver by month-end, that is why as soon as we get the company working again, the business can recommence and the delivery for month-end will be met.

There is another executive director, Chang, who’s role is to take care of the plants. So how did the new directors come into the picture?

Ho: He is mainly in charge of the Vietnam plant.

Is he in communication with the new directors?

Ho: Yes he is, with the company secretary.

Does he hold the key to the factory’s production?

Ho: No.

We are trying to establish when and why was the factory shut down, and what has happened between that time. Can you comment?

Woon: We did not do a post-mortem on those events when we met with management this morning. We are not out to do a witch hunt. That can come later. We want to recommence the business as soon as possible. The idea now is to instill confidence, get the staff back so that we can deliver our orders. If we have to double time to get it done, we’ll do it.

How much damage has happened at Kenmark’s Vietnam factory? We heard there was some looting.

Ho: It is intact, because they can’t take away big machinery. The most they can take away are computers. In any case, we don’t want to speculate. We are not able to identify who the culprits are.

How soon will it take for you to come out with a regularisation plan?

Gani: I don’t know, but we have a board meeting scheduled on Monday followed by a staff meeting. We will come out with a firm plan. We know the mistake now. We know there was some communication gaps that resulted in this whole mess. We won’t let that happen again.

What are the special auditors who have been appointed tasked to do?

Gani: The terms of reference will be given upon the approval of their appointment by Bursa. Bursa will draw up what they want the special auditor to do.

Is there hostility between James Hwang’s people and this new team?

Gani: I do not know, but they voted us in yesterday.

Do you represent Datuk Ishak Ismail? He seems to have bought so many shares in Kenmark in two days. How is that possible?

Gani: Why don’t you ask him that.

Ho: I think if you look at the turnover of the volume done for Kenmark, it was quite high.

On James Hwang’s disappearance.

Are any of the four new directors in contact with Hwang?

Ho: Yes, he calls us.

What does he want?

Ho: As he explained in the letter, he is very sorry this has happened and is asking us to help him rectify the situation.

Does he feel sorry for what he has done?

Ho: Yes, as he said in the letter. I think he’s very depressed.

How could he just leave everything and run off?

Ho: I think the issue is he did not leave everything. Sometimes when you collapse, there is no such thing as “I am going to collapse, I need to get this and that done”. I was told that he collapsed due to exhaustion and lack of sleep. At one point, he was without sleep for nearly 20 days which I don’t think is humanly possible.

This is something which is unplanned, and very unfortunate for a man who thinks he is superhuman.

But he has other directors. Why didn’t they come out?

Ho: The management and operations are very tightly controlled by one man. And without this person’s direction, the other directors will not do anything.

We are here to put the situation right. Even from the board position, the executive directors are all Taiwanese, and they all report to him. There is no local executive director to liaise with the market to say what is happening. So this is a situation that we have rectified by appointing four local directors.

Why didn’t his family members alert the public as to where he was?

Ho: His family also did not know where he was. The initial reaction was that he was kidnapped.

So you believe you can make Kenmark better?

Ho: With the co-operation of everybody, we can.

But what is the main plan for Kenmark?

Woon: Too early to say as this is only our second day of being appointed.

Gani: We are here to work and to deliver. We want to get the business going on again. If we didn’t believe in that, we won’t waste our time here.

What would it take to win confidence?

Gani: Start operations again, and return to profitability.

When can this happen?

Woon: As soon as possible.

Ghani: The first task is to get the company out of PN17.

Ho: We want to get the business going on again. I think if you look at the company’s track record, it has been very solid. For this to happen overnight, it is very unfortunate. The fact that the key management staff we met today, most of them told us that they have worked from between 19-26 years. That says a lot of the company. If the key people are with us, if our customers still trust us and the bankers support us, I believe we can turn the company around.

Komen ye kawan2....jgn tak komen , thanks :)
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1 Response
  1. -tuanbri- Says:

    nak komen la ni..

    tu la..aku pun follow closely..walaupun aku tak main saham.

    dashyat aa mainan korang...dapat profit sikit je..terus cash out...

    Kenmark aa naya...habis wipe out share value dia...