MOL Global's Largest Shareholder Makes Statement
Post# of 23081
Posted On: 12/02/2014 3:37:42 PM
MOL Global's Largest Shareholder Makes Statement Supporting Company
KUALA LUMPUR, Malaysia, Dec. 2, 2014 (GLOBE NEWSWIRE) -- Mr. Vincent Tan, the largest shareholder of MOL Global, Inc. (Nasdaq:MOLG) today made the following statement in support of the company:
"MOL has encountered some difficulties over the last several days relating to an accounting error at its Vietnam subsidiary, a delayed earnings release and trading halt, and the departure of its CFO, Allan Wong. The timing of Allan's departure for personal reasons which unfortunately coincided with the delay in the earnings release have resulted in some unhealthy speculation on the company's financial numbers, and the stock price has been, in my view, unfairly punished.
"I have the utmost confidence in the management and MOL and none of these unfortunate events alters my very positive view of the underlying business of MOL. I have communicated my support to the management team at MOL, and while I know they are currently working very hard on addressing the issues that have arisen, I have encouraged them to continue to remain focused on executing their business plans.
"I also am very supportive of the board's decision to implement a share buyback plan, as I believe that at the last closing price the stock is significantly undervalued.
Yours sincerely,
Tan Sri Dato' Seri Vincent Tan Chee Yioun"
CONTACT: Tan Sri Vincent Tan
Tel: 603-21491980
Email: tsvt@berjaya.com.my
MOL Global, Inc.
Alvin Tan
Tel: +65-6221-5680
Email: IR@mol.com
ICR, Inc.
Calvin Jiang
Tel: +1 (646) 405-4884
Email: IR@mol.com
(MORE TO FOLLOW) Dow Jones Newswires
December 02, 2014 11:16 ET (16:16 GMT)
KUALA LUMPUR, Malaysia, Dec. 2, 2014 (GLOBE NEWSWIRE) -- Mr. Vincent Tan, the largest shareholder of MOL Global, Inc. (Nasdaq:MOLG) today made the following statement in support of the company:
"MOL has encountered some difficulties over the last several days relating to an accounting error at its Vietnam subsidiary, a delayed earnings release and trading halt, and the departure of its CFO, Allan Wong. The timing of Allan's departure for personal reasons which unfortunately coincided with the delay in the earnings release have resulted in some unhealthy speculation on the company's financial numbers, and the stock price has been, in my view, unfairly punished.
"I have the utmost confidence in the management and MOL and none of these unfortunate events alters my very positive view of the underlying business of MOL. I have communicated my support to the management team at MOL, and while I know they are currently working very hard on addressing the issues that have arisen, I have encouraged them to continue to remain focused on executing their business plans.
"I also am very supportive of the board's decision to implement a share buyback plan, as I believe that at the last closing price the stock is significantly undervalued.
Yours sincerely,
Tan Sri Dato' Seri Vincent Tan Chee Yioun"
CONTACT: Tan Sri Vincent Tan
Tel: 603-21491980
Email: tsvt@berjaya.com.my
MOL Global, Inc.
Alvin Tan
Tel: +65-6221-5680
Email: IR@mol.com
ICR, Inc.
Calvin Jiang
Tel: +1 (646) 405-4884
Email: IR@mol.com
(MORE TO FOLLOW) Dow Jones Newswires
December 02, 2014 11:16 ET (16:16 GMT)
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'