This ipo is as bad as a scam. They borrowed alot of money before listing and pay out a huge sum of dividends to themselves. You are practically paying off their loan for no reason.

Bought Brunei business for RM 90 million (according to sharetisfy.com, they studied the prospectus) , a very small market with very poor prospects. They only have 4 stores in Brunei, digest this.

New shares worth nothing issued directly to individual founders before listing. And these shares will be worth RM 1.60 each on the market. Each of them receive like 1.5% to 1.6% of the enlarged market cap. (if i didnt read the prospectus wrongly)

That was the first round. Second round is after listing. A few of their major shareholders do not have a moratorium imposed on them. Including hypis, creador. PE 30 attempting to justify by opening another 200 Mr DIY and dozens of Mr DOLLAR and MR Toy. They only have like one or two dollar/toy shops. Completely unproven. They already have 600 over Mr DIY stores, what make them think the next 200 can offer the same profit margin. Even if it goes exactly as they planned which i say is impossible, PE 30 already price in the growth for the next 10 years.

Who the heck in their right mind is willing to pay extra for 10 years worth of profits for a stock that before listing already been milked for money like nobody's business? Sad to say, it is fully subscribed. From what I see, this stock should not be worth more than half the ipo price at all.

This is just my opinion, which I think many people share.

Correct.