Not beyond redemption

Asiasons major shareholders Jared Lim and Azlan

DATUK Azlan Hashim, Datuk Jared Lim and Ng Teck Wah, the trio who control 53% of beaten down SGX-listed Asiansons Capital Ltd, had a palpable disappointment when informed during an interview on Wednesday that the share price of their stock had hit a low of 10.2 cents that very moment.

Asiasons, along with two other Malaysian-controlled, SGX-listed companies Blumont Group Ltd and LionGold Corp Ltd, have seen their shares in somewhat of a freefall since Oct 3. Their shares were subsequently placed on trading restrictions by the stock exchange which exacerbated the situation. However on Friday evening, the SGX said it was removing the trading restrictions on Monday. This could possibly lead to the share prices of all three appreciating although some brokers warn that there will continue to be some level of selling pressure. Asiasons closed at 12.8 cents on Friday.