Corporate drama

According to CIMB today,

Bio-Treat Technology's former chairman Wing Hak Man has denied claims that he sold
his entire stake to a third party, deepening the controversy surrounding the waste
management company. Singapore-listed Bio-Treat said last Monday that Precious Wise
Group had bought 262.5 million Bio-Treat shares at 87.4 cents apiece in an off-market
deal the Friday before, giving it a 29.6% direct stake.

This news come as a shock to me. Although I have long unloaded the share in company when the chairman controversy erupted. However, I am not prepared to see some news like this. Something somewhere must be seriously wrong for this kind of events to happen.

After I sold off the holdings at a loss, the share did rebound back, follow by market re-rating of the water treatment stock. It went pass the price I let go. Despite the cheap PE and price rebound, I have no regret. As a retail investor, the last thing you want to invest is in the company with boardroom instability. It might deflect the management focus on some other thing than the business. For trader, they would still follow the news and trade. For long term investor, stay away, you never know what would happen eventually.