Latest Forum Topics /
OxPay Financial
Last:0.041
+0.002
|
 Post Reply
|
|
Neglected, Illiquid, Undervalue, Recovery counter
|
||||||||||||||||||||||
|
Skynet4321
Master |
15-Jun-2021 09:04
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
You could well be right and I respect your decision to look for greener counters.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
SujantoHenry
Member |
15-Jun-2021 09:02
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Well said! That is also my take.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
Skynet4321
Master |
15-Jun-2021 09:02
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
It's not unusual for companies to use 3rd party PR companies to engage individual retail shareholders especially when they do not have such a department. In this case, with only ~20 headcounts, focus has to be on sales and technical. Personally I am heartened to receive such email.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
cmengchan
Senior |
15-Jun-2021 08:57
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
My take is that there is already internal conflict between 2 camps. Having the previous directors voted out without warning is very unusual. I would expect some indications that there will be resistance to existing directors prior to the AGM vote. This felt like a suprised coup to seize control by one of the party. Not comfortable with this internal conflict as time/energy will be consumed by this fighting instead of the business. I doubt the situation will reconcil now that it was escalated. Cleared out all my holdings and moved on. Having such in-fighting on the same ship will eventually sink the ship. | |||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
cmengchan
Senior |
15-Jun-2021 07:16
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
https://www.gem-comm.com/about-us/ GEM COMM is an independent global Investor Relations firm offering a wide range of Public Relations, Investor Relations, Company Analysis, Research and Advisory services. See more on our factsheet.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
Skynet4321
Master |
14-Jun-2021 23:50
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Forward as below:
On Behalf of MC Payment Dear Shareholder
As you may be aware, the media has picked up on certain statements by MC Payment&rsquo s controlling shareholder, Mr Ching Chiat Kwong (&ldquo Mr Ching&rdquo ), in relation to Mr Ching&rsquo s requisitions to (1) appoint 5 directors onto the Board and (2) remove all but one member of the Board. Links to the media reports concerning the statements made by Mr Ching and the Board&rsquo s preliminary response to these media reports may be accessed here. The Board will provide a more detailed response to Mr Ching' s allegations in due course.
The Board deeply regrets this state of affairs. It is unfortunate that MC Payment and its Shareholders have been drawn in, and that extraordinary general meetings had to be convened so soon after MC Payment&rsquo s recently-held annual general meeting as a result. At the outset, the Board wishes to state that its belief is that focus should be placed on developing MC Payment&rsquo s growth strategies and creating shareholder value. The Board believes that the MC Payment&rsquo s limited time and resources are best spent on advancing the interests of the Shareholders. The spotlight should be on creating growth and economic value for the Shareholders. The Board wishes for MC Payment to continue to stay above the fray. The Board wants MC Payment to be able to go back to doing the &ldquo business of business&rdquo as soon as possible to get back to the business of creating growth and economic value for all shareholders and stakeholders. The Board&rsquo s commitment has consistently been to the growth of MC Payment&rsquo s business. Despite recent events, the Board would like to assure the Shareholders that it will be continuing with its commitment to transform MC Payment from what it is now to a full spectrum digital data and digital financial ecosystem company. Moving forward, the Board hopes to focus on the development of MC Payment&rsquo s planned growth trajectory and strategies and to help MC Payment capitalise on the full spectrum of digital opportunities, including digital data platforms, cloud services, data analytics, AI-assisted predictive analysis for companies and blockchain technology. As a demonstration of its commitment and capability, the Board notes that it has made significant strides in taking MC Payment to its next phase of growth, following MC Payment&rsquo s successful reverse takeover of Artivision Technologies Ltd. in February 2021. Among other things, the Board has introduced new services and signed new business contracts. Some of MC Payment&rsquo s initiatives are detailed in the announcements below:
The Board intends to direct its efforts to continuing the development and expansion and growth of the business of MC Payment. The Board looks forward to your continued support on this journey! Click here for the full letter to shareholders and the Appendix for the credentials of our Board of Directors. Sincerely, Anthony Koh CEO, MC Payment
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
desmlee
Member |
14-Jun-2021 23:30
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Shouldn' t this just be published publicly on SGX? Did not receive anything and who is this GEM Investment?
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
spursfan
Supreme |
14-Jun-2021 23:18
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Ya. I received the email.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
czmczmczm
Member |
14-Jun-2021 23:07
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Nope, not me
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
n3wbie
Elite |
14-Jun-2021 22:43
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
The management and Board should be committing time and resources into growing the company and enhancing shareholder value. Not quite sure what the cause of all these boardroom tussle is about - it was a RTO which Mr Ching was working on for a considerable period recalled that the RTO was delayed multiple times. What I do know and realise is that all these convening of EGM, responding to regulators' queries etc is an unnecessary and dilution of management' s bandwidth and to a certain extent a waste of shareholders' money. Have been eyeing an entry into the stock based on placing faith on Mr Ching (and his strong track record with Oxley) but all these noise surrounding the stock just makes it look more like a problematic counter, clouding market' s view of its underlying business' and value proposition. |
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Skynet4321
Master |
14-Jun-2021 22:28
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Are there anyone else who received an email from GEM Investment aka Anthony Koh reaffirming his commitment to focus on growth strategies? | |||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Skynet4321
Master |
14-Jun-2021 17:42
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Hope you didn't take up any position or has sold down before it fell.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
Jamesbond007
Veteran |
14-Jun-2021 16:38
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
I see no future for this company. Spiralling down. | |||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Skynet4321
Master |
14-Jun-2021 14:58
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Just bought another 10 lots @ 0.325. | |||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
PhillipTan
Supreme |
14-Jun-2021 11:21
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
MC Payment says exploratory talks with NGSC concluded with no outcomeMC Payment on Monday clarified that the board' s grant of authorisation to chief executive Anthony Koh was to allow the company to " engage in exploratory talks with NGSC" .Those talks have concluded with no outcome, the digital payments company said in its response to queries from the Singapore Exchange. It added that the company did not enter, and has not entered into any binding term sheets or agreements in relation to any acquisition of watchlisted NGSC. Separately, MC Payment has responded to the contents of a letter by controlling shareholder Ching Chiat Kwong which was published by The Business Times on June 11. Mr Ching, who is also the chief executive of mainboard-listed Oxley Holdings, said in his letter that a directors' resolution passed on April 30 - two days after the annual general meeting (AGM) - authorised Mr Koh to enter into a term sheet on behalf of the company for the proposed acquisition of shares in NGSC. NGSC, which has been suspended from trading since Jan 3 last year, is an investment holding company whose subsidiaries provide satellite-based services and telecommunications solutions in China and Indonesia. The term sheet was for the purchase of at least 51 per cent of NGSC at a purchase price valuing NGSC at S$9.6 million. This was to be satisfied by the issue of shares in MC Payment, which would have meant a dilution of both Mr Ching and other shareholders' interests. MC Payment also addressed other allegations made by Mr Ching in his letter, which cited a " loss of confidence in the current board" due to " recent discoveries" as well as the current board' s " failure to pay due regard to my rights as a shareholder" . Mr Ching had claimed while MC Payment chairman Albert Cheok had welcomed him to the board, Mr Cheok had also referred to him as a " cunning fox" in an email that Mr Ching believes was sent to him by mistake. In its response, MC Payment said Mr Ching had taken his communication with Mr Cheok " out of context" without reference to the full email thread containing details known to him - the company did not agree to appoint Mr Ching as a director, nor suggested that Mr Ching had acted in a devious or underhanded manner. Mr Ching also voiced suspicions about how two of the three directors up for re-election at the April 28 AGM were not re-elected. They were Harry Ng, Oxley' s lead independent director, and Shawn Ching, Mr Ching' s son. Votes in favour of their re-election came to only 43.3 per cent of votes cast. The resolution for the other director Kesavan Nair' s re-election, however, was passed with 85 per cent of votes. " While Mr Ching has alleged that there was wrongdoing or misconduct at the April 28 AGM, Mr Ching has to date not provided any details or documents in support despite the company' s requests," the company said in response. That being said, MC Payment said " for good order and corporate governance" , its independent directors will conduct due investigations into these allegations and update shareholders accordingly. Shares of MC Payment were trading 0.5 Singapore cent or 1.5 per cent higher at 34 cents as at 9.20am on Monday. |
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Smarty
Master |
14-Jun-2021 09:58
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Going to hit new low while stocks like RH Petrogas sky-rocketing |
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
spursfan
Supreme |
14-Jun-2021 05:21
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
RESPONSE TO MEDIA REPORTS IN (I) THE EDGE DATED 10 JUNE 2021 AND (II) THE BUSINESS TIMES DATED 11 JUNE 2021..... https://links.sgx.com/1.0.0/corporate-announcements/YTEJD7U7HZN8XOEP/671023_MCP%20-%20Response%20to%20media%20reports.pdf | |||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
spursfan
Supreme |
13-Jun-2021 20:44
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
poems TA is bullish for mc in the short term . maybe time for a technical rebound. just for info.
|
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Skynet4321
Master |
12-Jun-2021 14:02
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
All these drama are coming to an end. From July things will make a turn for the better.
I don't know why they are looking into buying NGSC but glad it didn't move forward but it does leave a bad taste for me as they only acknowledge after Chng expose it. |
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||
|
Smarty
Master |
12-Jun-2021 13:27
|
|||||||||||||||||||||
|
x 0
x 0 Alert Admin |
I was quite happy when gone-case Arti was given a new lease of life Alas, now even sick MC is plagued with boardroom tussle really 換 湯 不 换 藥 resigned to ass luck.. |
|||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||