Possible Fraud committed (MIDAS)
This petition is created to request SGX and MAS to step in to protect the reputation of singapore as a financial center and to held company and their management accountable.
As midas investor we realise and demand and explanation
1) Over the past few days there has been a wide price difference between the hong kong and singapore that leads to a lot of people that the worst is over for the company
2) The last announcement has caught lots of people surprise especially when it is so close to the financial reporting, leading to speculation that midas is another fraudulant company.
3) As an investor , we are surprise to learnt that certain percentage of the shares of the
subsidary has been suspended and we demand the midas management to disclose who are the creditors
4) As investor we are surprise that the financial controller has totally no oversight or does not even aware of the litigation at the beginning until things escalate to this extend.
5) MIDAS has been so called awarded the Most Transparent company and for this
incident to happen it a total slap to the singapore financial system.
6) We feel that the board of Midas has totally failed in performing their fiduary duties and request SGX to step in to demand the management for anexplanation and meeting and make them answerable to all shareholders.
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