Were HeveaBoard's key management also losing their confidence?

When comes into the investment decision -- how much efforts that you really put on to do your thorough research?

I would like to point out some clues that HeveaBoard key management's actions may hold on your investment decision.

There are some points to ponder, before putting on your bet:

1. An analysis of shareholding of two (2) key management in the past.

2. A land deal with an insider on 11 January 2017 and completed on 19 June 2017.

3. A key management resigned on 23 February 2019.

First of all, let's briefly introduce the two (2) key management's background (please refer to below picture).

Figure 1: HeveaBoard Key Management

 Who're the two (2) key management? Management No. 3 and No. 4.

Figure 2: Key Management at a Glance

After going through their brief background, what would you get related to? Would you think that whether they had their stakes in HeveaBoard? Let's have a look at the summary of the analysis of their shareholdings in the past to date:

Figure 3: Key Management's Shareholding Statistics

How do you look at the above shareholding statistics? 

Think deeply: 

1. What're the reasons behind both of them divested all their shares prior to the second round of 10% of private placement exercise in April 2014 (completed on 21 July 2014). 

2. Did they also feel that they're lack of confidence on the future prospects since they didn't own any shares of HeveaBoard? Weird, right?

Secondly, the land acquisition deal was between HeveaBoard and one of the key management, Mr. Yee Kong Yin on 11 January 2017. This insider's deal was about RM 13.46 million for a leasehold vacant land measuring 3.127 hectares (7.7269 acres) in Negeri Sembilan. The reason given that this land acquisition was to expand the RTA segment by building a new factory and to acquire new machineries. The questions here are: 

1. Whether the offer price of the deal was reasonable.
2. Are the RTA segment's prospect very firm in future since it'd spent a large sum on it? Time will tell.

Lastly, after 21 months of the deal, Mr. Yee Kong Yin resigned on 23 February 2019. Why suddenly resigned since he's aged 56? However, there's no smoke without fire!

If you have your own thought, kindly share with me as well.