Updated : Depa bagi sama depa saja. Khazanah director is major shareholder. Ekuinas may lose up to RM 400 million in the Liongold, Asiasons collapse.

You can read more at Ganesh Sahathevan's Blog here.

Sunday, October 06, 2013

SINGAPORE: The share price of Singapore-listed Asiasons Capital Ltd dropped as much as 90 percent to S$0.17 ($0.14) after a trading halt was lifted on Monday.

The Singapore Exchange halted trading of shares in Asiasons, LionGold Corp Ltdand Blumont Group Ltd on Friday.

Blumont shares resumed trading, down 81 percent to S$0.167. - Reuters

D) Shares in gold miner LionGold and its biggest shareholder, Asiasons, plummeted 42.1 per cent and 61.5 per cent to 87.5 cents and S$1.04, respectively, on Friday. 

That wiped off S$585 million (RM1.49 

Billion) from the market cap of  Liongold 

and S$1.6 billion (RM4.08 Billion) 

from that of Asiasons ! ! ! ! ! ! ! ! !

(http://www.todayonline.com/business/sgx-allows-trading-asiasons-blumont-liongold-resume)

As reported:

A) Ekuinas allocated RM400mil in the first tranche and the three fund managers raised RM143mil from private sources.

(http://www.thestar.com.my/Business/Business-News/2013/08/19/Ekuinas-steps-up-outsourcing-programme.aspx)

B) Asiasons Group, headed by chairman and co-founder Datuk Mohammed Azlan Hashim, has been selected as the replacement manager of the earlier-launched Outsourced Programme Tranche I.

Mohammed Azlan Hashim is also a Director of Khazanah Nasional Bhd. Depa bagi sama depa saja !!

(http://www.thestar.com.my/Business/Business-News/2013/09/04/Ekuinas-sets-aside-RM360mil-for-Tranche-III.aspx)

My comments :  Well just for your information folks, the Bloggers had dinner with Dato Abdul Rahman the CEO of Equinas just last Thursday 3rd October 2013. We did speak a little about Asiasons.

Unfortunately Abdul Rahman either did not know or could not know that the Singapore Stock Exchange would halt the trading in shares of Asiasons the next day (Friday).  RM4.08 Billion of value has been wiped off the value of Asiasons - which is a company to whose subsidiary Equinas has given hundreds of millions of Ringgit to invest.

I hope Equinas can give a quick Press Statement on what exactly is going on at Asiasons and how much of our taxpayers' funds are at risk or have been wiped out.