Malaysiakini reported:
Khairy Jamaluddin has disposed off all his shares in ECM Libra Avenue Bhd - a move believed to be an attempt to fend off claims of nepotism against him and his father-in-law, Prime Minister Abdullah Ahmad Badawi.
Khairy sold his entire stake of 10.2 million shares - representing 1.23 percent of ECM Libra Avenue - for 65 cent a share yesterday, Bernama reported. He had bought them at 71 cent a share last December.
This means that he has lost 6 cents per share. How much would his loss be for 10.2 million shares? My maths is a wee dodgy but I think that would be still be a RM 612,000.
If he doesn't have money to buy those shares in the first place, having obtained that from a 'lucky' loan, then how is he going to bear that loss? How is he going to pay his loan back? By another 'lucky' loan?
I worry for him. It's not easy being the son-in-law of a PM.
vindica, it's terribly cruel to suggest it's good he lost money, as much as 0.6 million ringgit. Now where would a 31-year old bloke get that sort of money to repay his 'lucky' loans?
ReplyDeleteMy mate ali suggested that Ayah kasi - now that would be reassuring, and make him one very 'lucky' son-in-law, ya?
How do you know he lost money? The report just mentioned that he bought at 71 sen/share (ECM Libra stock code 9784)before the merger and sold at 65 sen/share (ECM Libra Avenue stockcode 2143) after the merger.
ReplyDeleteIf we take Kali's example, orginally he has 43,394,641 (ECM Libra 9784) shares but after merger he ended up with 56,259,500 (ECM Libra Avenue 2143). So it is possible KJ got additional shares also. So I do not think he lost money. At worst he would breakeven or make profit.