Oldtown: Insider Trading is not something you should do a lot!

Oldtown has created a brand for itself. Although I like the company until I have purchased some of its shares, the recent action of buying and selling is not something which I like.

See below.

 Bought shares at RM0.90 and RM0.92

Sold small quantities at RM2.03 and RM2.04

Of course there are many companies who do this, but most of them have no business that are decent enough for them to concentrate on building. Oldtown has, at least I think so!

Now the transactions above are peanuts, and I do not believe that you are selling these for the sake of cashing out as the recent RM0.04 dividend which you have received, easily could have net more than RM6 million AND should be more than enough for you to not needing to transact the shares (IN SUCH SMALL VOLUME). I believe these are to show that you are cashing out at a price so that speculators believe at this price your share is overly expensive and this is to allow yourself and the rest to move in at a lower price.

But remember, you are the face of Oldtown and it is not the right thing to do as it will just create non-confidence to the management or owner majority shareholder.

Although you may say I am angry which I am not as I have experienced this often enough but being a listed company, you do not want to create suspicion in your handling of your company. As it is there are quite a lot of inter-company trades in your balance sheet!

As a company which has done so much, you should concentrate on building the company and brand and not too concern on how people will second-guess your action in the share market.