Mercantile Ports & Logis... Share Discussion Threads

[pj 1] 28/9/2018 08:20

Congratulations then.

[azalea] 28/9/2018 08:12

PJ1

I can advise with notable authority, that azalea will not be buying any shares in MPL and is perfectly content to hold onto the cash arising from the sale of his holdings at above 70p. Moreover he is pleased to report that his modest stake in STCM is showing great promise. His caveat as always is one of DYOR.

[pj 1] 28/9/2018 07:48

Relax Nikitall is guaranteeing the Bank Loans. I'm sure they will RNS when the guarantee is removed.

[phowdo] 28/9/2018 07:44

"As of 30 June 2018, MPL had £1.08 million cash in hand"
"the Company will consider alternatives to refinance its existing banking facilities"

Quelle Surprise!

Looks like all the cash is gone and port still not operational.
Last ditch placing or debt for equity swap probably the last resort now.
Shareholders about to be wiped out (again).

[tiltonboy] 26/9/2018 11:47

Azalea is working his magic on OPG, so is otherwise engaged

[pj 1] 26/9/2018 10:52

What will be the last ''Pump'' before the last attempted Placing?

Ship repair facility?

Removal of the no flight zone?

Fictituos contract with an unnamed Major

''credible'' approach from a cornerstone investor or take over

Vin Muria is ''interested''

Nasdaq listing

Reverse take over from a Mafia related family?

New polo courts?

500 lorries suddenly appear on site (again)


Irrevocable Presedential decree guaranteeing development of the site?


Nikitall Gandhi resigns to be replaced by another Gandhi but remains an 'advisor' to the Company?

azalea buys more shares

[phowdo] 26/9/2018 10:37

>WHERE THE £44m WAS 'SPENT'

I believe they had to stock the fridge with coke.

[mount teide] 26/9/2018 10:27

AND THIS IS BEFORE WE GET ONTO WHERE THE £44m WAS 'SPENT' 6 TO 12 MONTHS BEFORE THEY EVEN GOT ON SITE TO 'COMMENCE CONSTRUCTION'.

[mount teide] 25/9/2018 22:48

Admission Document:

'Acquisition of land for the road linking the Multi-purpose Terminal to the nearest major access road.'

'The Deed of Lease requires KTLPL to develop and build the approach road to the Multi-purpose Terminal from the nearest major access road.

The Group will be reliant on the co-operation of the Public Works Department of the State of Government of Maharashtra for the approval of the construction of the road and possibly to share the costs of the construction and adoption of the road.
ANY FAILURE BY THE GROUP TO AQUIRE THE RELEVANT LAND AND BUILD THE RELEVANT INFRASTRUCTURE ON IT MAY RESULT IN THE TERMINATION OF THE DEED OF LEASE, which will have a material adverse effect on the Group’s business, financial condition and results of operations.'


Predictably, the scam artists have elected not to follow the requirement of the Deed of Lease because that would require spending a considerable sum of money£Millions) which if the port asset is going to be taken back by the Banks, frees up extra cash for them to 'spend' in other ways.

So, this £150m 'port' is to be serviced by an unlit, heavily pot holed dirt track which routinely floods in the Monsoon season making access highly problematic for heavy goods vehicles. Last year large sections of the dirt track washed away during the management's 6 month annual monsoon season leave, delaying access to the site for contractor's heavy machinery for weeks until major repairs could be effected.

[pj 1] 24/9/2018 19:48

Nice to see the current NEDS have carried on the DD of the previous NEDS then.


Can you believe at one point the NEDS (or the NOMAD) didn't even visit site to check on progress, what are the odds that has continued?

[mount teide] 24/9/2018 19:44

Not a single site construction progress photograph or video or acre of reclaimed land in 2018 - how do these fraudsters get away with it?

The white glove butler who services the £1,000 a day Taj Mahal business meeting rooms was bang on the money again!

[pj 1] 17/9/2018 08:27

O/T But if anyone wants proof or to learn about the stupidity of some Investors, and the madness of the AIM market could look at FRR as an example. It has today RNS'd that it is basically in default and yet some are still BUYING it this morning, so instead of it being down 99% it is only down 10%.

It is always a dangerous game being short as spikes can happen at any time.

[diku] 16/9/2018 23:30

How is the monsoon season going on?...or are they on a jolly good holiday?...

[mount teide] 07/9/2018 12:17

Thats easy when you still got £20m of shareholders funds/bank loans left to 'spend'!

[papy02] 07/9/2018 11:56

Amid the EM currency and market mayhem, MPL sails on serene. Funny old world!

[mount teide] 07/9/2018 11:11

Received a stream of interesting correspondence from another highly disgruntled Mumbai based MPL employee who recently left the company after failing to continue to support the "Karanja Scam" (his words) with sufficient zeal after he alleges they failed to pay him for 8 months.

Suggested he forward the correspondence to AIM Regulation and the SFO.

He says that next year there are State and National elections and the Mumbai 'Chief Minister' would need having his image tarnished by exposure of the "Karanja scam" beforehand like a hole in the head ...ie by someone asking embarrassing questions by filing an RTI( Right to Information - as per the constitution of India...Chief Minister has to answer RTI questions in 45 days).

He goes on to say since the Chief Minister(who is also responsible for the MMA, the Marine Authority) inaugurated this "Fraud port"(his words)...the RTI questions could include:
When will the port be commissioned?
How many jobs will it create?
What amount of money is being funded by Indian banks and which Banks?
What amount of royalty has been paid by MPL for dredging and how much dredging has been carried out?
Why is a new safe Port access road, as demanded by the planning consent not being provided etc

He claims MPL is now so desperate to keep the gravy train rolling they have even approached the Indian Navy to see if some sort of cut price deal for this "CRAB" (his words) of a 'port' could be made - apparently the Indian Navy is denying any such approach has been made according to the media.


AIOHO/DYOR

[my retirement fund] 03/9/2018 16:50

Surely they bank account has been completely emptied now by these crooks ?

[mount teide] 03/9/2018 11:17

Feb 9th RNS from the MUMBAI Con Artists that like white gloved butler serviced £1,000 a day meeting rooms in Mumbai's most expensive hotels at shareholders expense and 6 month monsoon season annual holidays, stated:

'The first customer has required longer than it originally envisaged to arrange the end to end logistics......The Company, therefore, expects to start receiving its first revenues in a few weeks.' Really !

After scamming shareholders for tens of £millions since 2010, they continue to treat shareholders with complete contempt as a 'few weeks' becomes 7 months and counting!

Some of us can remember the white collar criminal masquerading as the MPL Executive Chairman telling the market in early 2014 to expect first revenues from the 100 acre Logistics Park by the end of 2014. Nearly 5 years later, not only has there been no logistics park revenues, the Company is STILL YET TO START reclaiming the 100 acres of land to build the Logistics Park !

All COMPLAINTS SHOULD BE FORWARDED TO THE NOMAD, AIM REGULATOR AND SFO - ON SECOND THOUGHTS DON'T WASTE YOUR TIME WITH THE FIRST TWO - BOTH ARE FUNDED BY THE MPL MANAGEMENT - LIKE US PROCEED DIRECTLY TO THE SFO.

[pj 1] 02/8/2018 09:17

They still have options....

NASDAQ listing rumour

Reverse take over rumour

Ship repair facility review

Countless MOU's

Government removal of the 'no fly zone'

[mount teide] 02/8/2018 09:09

Not a single 2p share traded for over a week - with liquidity like that who needs enemies!

The clueless major II's have no one but their own hubris and arrogance to blame for the certain loss of many, many tens of £millions of their clients retirement funds.

And to think one said with a straight face at the time of the £37m placing scam, that "if the management need more money than that they should tell us now - we don't want them coming back again for more later"!

Clueless, totally clueless!

[marvelman] 02/8/2018 08:58

A flatlined chart is invariably a prelude to an ominous event. Looks like the party is almost over and the shareholders will be the only ones nursing a hangover.

[mount teide] 02/8/2018 08:52

At 99.2% down post IPO and 80% down post the £37m Fraud by False Representation Placing using AIM's greatest ever work of Fiction "The MPL Shareholders Circular", as predicted, investors now have little if anything left to lose!

Of course, the management's scandalous £25,000 a month white gloved butler serviced expense account now approaching £3m in total expenditure, will soon be celebrating its 10th year anniversary ! Time for another shareholder funded party? Nah - its been one long 10 year party at shareholders expense for the venal management !

There are few certainties in life except death and taxes - let me give you another - that the Management will continue running their £25,000 a month travelling expenses and various other scams until the £150m AIM DISGRACE that is Scam Ports and Logistics meets its certain fate of a Bank takeover of the assets and wipe-out of shareholder's 'investments'!

As suggested 18 months ago - we reckon that H1/2019 is likely to see the final end date - as that is when the bank loan capital repayment and interest payments start to really ratchet up.

AIOHO/DYOR

[my retirement fund] 02/8/2018 08:27

The conclusion of this scam surely cannot be that far away now ?