I am the LAST person to lose HOPE but i am the FIRST person to face reality and the REALITY is telling me that KASB Securities issue may linger on. If it does not, i will be the first person to be cheering with joy. There is no stone i have left unturned to gather CONCRETE INFORMATION about this matter and OPINIONS from the industry insiders. There is no need to panic even if it does not come online because you will be GETTING YOUR PAYMENTS starting tomorrow, I have been told. Secondly, the ball has been left in the court of KASB Securities to show Their Net Capital of around Rs 2 Billion before the KATS Terminal could be turned back on. Rs 600 Million of KASB Securities is stuck at KASB Bank.
I am a bit confused as to how Rs 2 billion be raised/Borrowed?/Injected within two days. Secondly, you can transfer your shares to another house if you do not have Margin. CDC is your custodian. But if you have margin, than you will have to find a house that will pay your margin and have your securities released and then create a new margin account at the firm where you have transferred your account to. The NEW House you go to will also look at what your holdings are and if you dont have "A" Grade stocks on margin, i do not think that they will accept the transfer. And thats very fair. Otherwise you will have to wait till a final verdict of settlement procedure is announced by the SECP.
Either way, The selling pressure being created in the market is LARGELY ARTIFICIAL and PERCEPTIONAL because KASB is not being forced to liquidate client securities, so where is the selling pressure ? And when people can transfer their shares, why would they sell it ? Thats all i can say for now but i still hold some ray of hope that it is resolved....But protect your interest first and transfer if you want.
Post by Mir Mohammad Alikhan - Co-Chairman at AMZ MAK Capital Limited.
Posted on his Facebook Wall.
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