Private placement is a way for a company to raise money without using a rights issue. Why not use a rights issue? Simple lah, with private placement (PP), they can control who gets to buy in. Usually, it's big institutions or sometimes, even friends and family. Some say it's a sneaky way for certain people to get a bigger share, while others get diluted because they weren’t given the chance to buy into the PP.

So, today’s sell-off? Most likely, it's from those who didn’t get to buy the PP. Imagine if Ah Soon buys all the PP at a discount, then sells it to the market at a higher price. He can make a nice profit while also helping the company raise cash. Haha. Today sell off means there is know something people in the market.

Now, why is the company doing the PP? They say it’s for blockchain development, but honestly, the cost is pretty high. Like I said a year ago, they aren’t really blockchain creators, they’re more like resellers. This time, they’re trying to come up with use cases to apply blockchain. Whether those use cases will make money or not, no one knows. So, some shareholders might get nervous and decide to sell.

To me, blockchain is like Excel – it’s just a tool. You can’t sell Excel to a customer who doesn’t even know what they need or how to use it. So, the company needs to create some templates, like financial models, budgeting templates, or AI-powered templates. But again, whether these templates will actually sell, we can’t be sure. Plus, the templates can easily be copied by competitors, so it’s not a guaranteed thing.

Lastly, since the company got so much quarterly earning, why they need to do PP? Are their earnings just for show, imaginary or is it real cash that they can use for dividends or R&D? Why need to inject more capital into cash rich company?

(PS: What happen to NFT? Doge Coin...? many imaginary art and imaginary coins are falling as value retention and safehaven.... Haven't you all heard the news about Biggest crypto heist in history, worth $1.5bn, linked to North Korea hackers??)

Amount
(RM’mil) Expected time frame for utilisation (from the listing date of the Placement Shares)
(1)
Development of blockchain infrastructure in Malaysia
85.00
Within 24 months
(2)
Development of blockchain applications and associated agentic Artificial
Intelligence (“AI”) 225.00 Within 24 months
(3)
Working capital 30.38 Within 24 months (4) Estimated expenses for the
Proposed Private
Placement
7.90
Within 1 month

我比较buy nerraw兄的第一个说法，和指定人士购买有关，而且这指定人士的背景也和那个特地要在大马announcement提美国体系的法律有关，也可能和world coin有关。数量是5%左右，多数会由这位单独人士或个体独立购买，直接做substantial shareholder.为何不要在流动市场买？这样做的话，会推高股价，不是时候？

人工智能开发2.25 亿令吉，可以想象为画大饼。通过法规最终实现运用10%资金，其余90%进了谁的口袋就不多讲。这属于负面推测，但也不能完全排除可能发生的隐忧。

往好处推测，Ai与Web 3.0技术将融入大马政府部门和商业各个领域。好话不多说，实现胜于一切空谈。

在这里可以带出什么启示？，一面的负面推测？，或一面相信好处的推测？如何更有效率地衡量这些因素？