Anyone looked at this yet? I am really dubious. MSC is selling its shareholding in Sinotel Ltd into a new Co. CCG for about $3.5m. yet there is no value anywhere to be found for Sinotel in the MSC 2004 annual report.
Sinotel from what i can find out has an unused telcommunication asset in China. MSC is going to Underwrite $1m of a $7m raising for CCG. BUT if less than $1m is raised it does not have to proceed. Is this a good way for MSC to flog off a worthless asset at the expense of subscribing shareholders? NIC
MSC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
