Sophie had little choice.She had to sacrifice one child to the Nazi gas chamber.
But not Genting Berhad!!
First it nonchalantly sacrificed the GenM minority shareholders' billion RM hoard to a transfer payment of buying some buildings from itself. This is somewhat tolerable and grudgingly accepted by minority shareholders as assets are gained on the balance sheet.
Now this, the hiving of GenS's loss making ventures in UK to the poor minority shareholders of GenM again!! Kok Thay-what happened?.
Isn't this culling of the diminishing cash horde that could be used to reward the loyalty of the GenM shareholders?
Aren't the minority shareholders being culled too?
We do not know the real reason behind this left hand to right hand move. To the laymen, it is a dead loss as we have to carry these dead ducks in UK.
Unless GenBhd can provide a positive basis for thsi move, I think minority shareholders should question Kok Thay for his bird-brain scheme against GenM minority shareholders.
The stock took another meeting to fall more than 30 sen at one point. It lost 12 sen at the noon close today.(2 July 2010)
