EPF teach you how to burn RM5.2 millions in 14 days

Posted On 28/10/2008

Filed under economy, Food for thoughts
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Comments Dropped 2 responses

Maybank close at RM5.05 today (28 Oct 2008).

Let’s check the casualties done on EPF alone on Maybank stock

Date of
Shrs Acquired/
Director/Substantial Shareholder Shrs Held
After Change
23-Oct-08 14-Oct-08 2,299,000 Employees Provident Fund Board 534,484,586
23-Oct-08 16-Oct-08 4,001,500 Employees Provident Fund Board 538,486,086
22-Oct-08 16-Oct-08 1,000,000 Permodalan Nasional Berhad 281,870,708
22-Oct-08 10-Oct-08 2,299,000 Employees Provident Fund Board 534,484,586
20-Oct-08 10-Oct-08 4,250,000 Employees Provident Fund Board 532,185,586

10-Oct 2,299,000 x RM 5.45  (day high RM 5.70, low RM 5.45)
10-Oct 4,250,000 x RM 5.45  (day high RM 5.70, low RM 5.45)
14-Oct 2,299,000 x RM 5.60  (day high RM 5.80, low RM 5.60)
16-Oct 4,001,500 x RM 5.40  (day high RM 5.65, low RM 5.40)

Total share acquired  : 12,849,500, cumulative value : RM70,174,550

Today stock value (28-Oct-2008) = 12,849,500 x 5.05 = RM 64,889,975

Paper value lost incur as of 28-Oct-2008 = 5,284,575


Don’t hold your breath, those figures stop at 16-Oct-2008.  And report between 17-Oct-2008 till today still not yet appear.

Question 1 :  What is the average cost of EPF buying 534 Millions Maybank stock.

Question 2 : What the F*ck EPF keep buying Maybank stock when most people know the stock is going south. Why keep wasting bullet when you know the elephant are still inside the jungl.


2 Responses to “EPF teach you how to burn RM5.2 millions in 14 days”

  1. Jefus

    Moot T,
    in boleh land got magic, it is only a loss when it is booked as a loss. …..

    Maybank also got another goose egg in the process of hatching, the Indonesian BII.

    Definitely not a good time to buy bank equities – even for Maybank, ha ha ha

    link here

  2. Jefus

    Risk of impairment losses for Maybank’s acquisitions abroad

    PETALING JAYA: It has been an uphill task for Malayan Banking Bhd (Maybank) to explain the costs from the time it first proposed to acquire banking interests in Indonesia and Pakistan.

    Investors are all the more unconvinced now that the share prices of banks have fallen sharply all over the world. Furthermore, both the Indonesian rupiah and Pakistani rupee have also plummeted.

    Maybank first proposed to acquire PT Bank Internasional Indonesia (BII) in March and a 20% stake in MCB Bank of Pakistan in May.

    In a sense, the acquisitions have become casualties of circumstances as global asset prices plummeted further in the last couple of months

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