7/4/08

Bursama trading suspended??



wallaweh!

Hello viewers. I was shocked when sha called from OSK and said that the tradings in Bursa Malaysia has been suspended yesterday (3rd July 08) due to some reason. Well it was a rare situation actually since this suspension happened when we had a lot of speculations (you know it btw) going on around us nowadays. And ya it never happened before and of course, it gives a big impact not only to the poor investors, but also to the economy.

Well according to Datuk Yusli the CEO of Bursama, the main reason of the suspension was due to technical glitch (kerosakan teknikal pada sistem komputer) and yet it caused them to lose about RM450,000 in terms of trading commissions with an average value of daily trading currently up to RM1 billion. (b.harian 4thJuly)

Well my opinion is this:

1) It should never happened. Why, bcoz we're in a middle of national crisis. With a super duper speculations from the political side, plus with this technical failure, it gives a huge impact on the investor's confidence level to invest in Malaysia. Just look at the Composite Index now. Right after the one day suspension, the KLCI dropped to a 16-month low to 1124.53 points (staronline.com 4th July).

2) Bursama should change the trading system they used currently (SCORE) because it has been used for quite some time.

3) Detailed explanation should be given from Bursama about this suspension so that we could get back the investors' confidence. And thank god, they already did that.

4) I believe this is due to the technical glinch, not for some other reason. Well ya there's a lotsa political speculation going on around us currently and i believe those speculations has got nothing to do with this failure. Wallahua'lam.

5) Let us bring back our 1,200 points trading record back on track. Although it is impossible for the time being, but i believe if we could stop all those speculations, we could get back the things that we have lost. Amin.

I love Malaysia. Do you? :)