TRUE to the age-old adage that to err is human, prolific blogger Calvin Tan Eng Yee of Calvin Tan Research ought to be saluted despite having to eat humble pie for admitting his miscalculation over the true potential of KPower Bhd.
Tan whose investment thoughts often surface in the popular retail investor platform i3Investor posted his “Retraction & Apology on KPower” last Friday (June 25) on the platform at 9.06am.
It reads:
“To all dear investors/traders of i3 Forum,
I have studied the accounts of KPower more thoroughly and found KPower to be sound.
KPower has more net cash than borrowings.
Therefore, I have retracted & deleted all quotes & posts with reference to KPower (7130).
My apology to all at KPower shareholders & investors.
I have now taken a positive position on KPower due to its pivoting into renewal energy.
Best regards,
Calvin Tan Research ”
Tan must be commended for living up to his words as no trace of the said article can be found on cyberspace today.
Interestingly however, this is not the first time that Tan found himself cornered for ‘messing’ around with counters that bear some linkages with hot stock Serba Dinamik Holdings Bhd.
Recall that on June 5, energy infrastructure and technology group Yinson Holdings Bhd issued a clarification on Tan’s controversial research note entitled “After Serba, Yinson is Another Stock with Horrendous Borrowings and Very Small Dividend Yield” which the former claimed to have contained “factually wrong” allegations about the state of its financials.
“We do not normally respond or clarify opinions of unidentified persons,” Yinson pointed out. “However, in the light or recent developments in corporate Malaysia,we felt this warranted a clarification.”
Well, the moral of the story is perhaps a writer or researcher for that matter may be able to get away for substantiating something which is subjective in origin but not so when it comes to dealing with a subject which is objective in nature – especially so something that is associated with numbers or statistics.
This is not to say that numbers or statistics do not lie – or should be accepted at par value – but it will be a tedious affair to probe or prove that they do. – June 27, 2021
