Hot Stock Supermax falls 3% after owner says he supports Pakatan

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 06 May 2013 15:00
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KUALA LUMPUR (May 6): Supermax Corp Bhd fell as much as 3%
among top decliners on the rubber glove manufacturer’s chief and major
shareholder’s recent statement that he would support opposition alliance
Pakatan Rakyat in Malaysia's just-concluded general election.
At 2.40pm, Supermax was traded at RM1.95 with some 4.7 million
shares done after falling as much six sen to RM1.94 earlier.
It is worth noting that the Employees Provident Fund (EPF) had ceased
to become a major shareholder in Supermax last April 18 after the
former sold three million shares in the firm, exchange filings show.
Following the sale, the EPF's stake had fallen to below 5% compared to
8.5% on December 27, 2012, according to the shareholding updates.
Supermax CEO and group managing director Datuk Seri Stanley Thai had told Bloomberg in an interview prior to the election
yesterday that "he was joining thousands of fellow ethnic Chinese citizens in abandoning support" for Barisan Nasional (BN) to
support the opposition during the national poll.
“Why are the Chinese against the government -- it’s simple
“We don’t want our children to suffer what we suffered, deprived from education, from career opportunities, from business
opportunities,” Thai, 53, was quoted as saying.
Bernama reported that Datuk Seri Najib Tun Razak has received his first election mandate from the people to continue to lead
the country as the sixth prime minister after BN secured 133 parliamentary seats in the 13th General Election early today.
The opposition alliance captured the remaining 89 seats, seven more than their 2008 total, but this time, DAP took the biggest
share of 38 while PKR maintained 30 and PAS had 21 seats.

The brave Mr Thai!