THIS IS OUTRAGEOUS!
LSS
If this letter is real, that means Tun Dr Mahathir Mohamad is guilty of conspiring to manipulate the share market – which eventually caused many retail investors to lose their pants and go bankrupt.
The name in the letter is the famous Repco Low who manipulated the share price of Repco Holdings.
The saga involving Malaysia’s Repco Holdings, arguably the biggest market manipulation incident the stock market has ever witnessed – at the very least, it is the most jaw-dropping event in the country’s mid-90s bull run.
Wrap your head around this – Repco’s stock traded at around RM5.00 in 1996, was manipulated to as high as RM140.00 a year later, and in 1998, one year later, plumged to RM2.98. The counter was subsequently suspended in 2000 and delisted three years later (meaning dropped to ZERO!) – causing thousands to lose all their money.
The thing is that during the Repco days, on one side they were playing up the whole stock market and on the other hand they were dishing out the pink forms.
It was like a party where everyone made obscene profits!
And now we know that it is based on officially-sanctioned manipulation at the highest level.
And when the party ended, ordinary Malaysians were left holding the bag and sustained shocking losses.
Today, the Kuala Lumpur Sessions Court has once again adjourned the sentencing of Low Thiam Hock, better known as “Repco Low” in stock market circles, to Feb 29, 2016.
Following a near two-hour mitigation session by Low’s lawyer on Monday, Sessions Court judge Mat Ghani Abdullah has pushed the decision for sentencing to the end of the month.
The prosecution is asking that Low be sentenced between five to eight years, and has also demanded prosecution cost of RM3.02 million.
Low was initially supposed to be sentenced on Monday, after being found guilty on Jan 11 for manipulation of Repco Holdings Bhd shares.
If this letter, as exposed by RPK, is real then Tun Mahathir must take responsibility for assisting in manipulating our country’s stock market and be held responsible for the losses of countless retail investors.
After the crash or Repco shares and the 1998 crash, retail investor participation in our stock market was never the same again.
Of course, Mahathir does not need to state the counter since Repco Low owns Repco and hence he would push up his own counter lah… DUH!
How would foreign investors have confidence in our stock market if it is known that our very own ex-PM actually actively participated in market manipulation of such staggering proportion with the most well-known “share operator” of all?
http://www.malaysia-today.net/
