All rogues lead to SC

By Rockybru

Solitude Commission. The Securities Commission is tongue-tied, and nobody’s blaming them. Corporate player Azizan Abd Rahman’s purchase of nearly half a million Eastern & Oriental Bhd shares this year (before Sime Darby made a RM2.30 payout to buy 30 per cent of the company, only from the major shareholders of the company) has got people riled up big time. Read here.

Azizan is the chairman of E & O. He was not party to the sale but considering that other E & O board members who were party to the sale had also bought E & O shares from the open market, one is left wondering: Did the Board members know of the coming “windfall”?
Surprisingly, Azizan also emerged as a substantial shareholder of Kencana Petroleum Bhd in July, just days after an offcer was made to take over the company at RM3 a share! Wonder how shareholders of Ramunia Bhd felt upon finding out that their chairman was a substantial shareholder of a rival oil and gas firm?