Agree 100% with BLee. The RM0-05 is very possible if based on the following scenerio :
1. If Seacera suddenly got a buyer to buy all its 500 acres land in Semenyih at current market price.
2. If Focus Dynamics The Arch Project is completed and all Business around TRX is doing well and back to Pre-Covid and better.
3. If suddenly, Fintec proposes Free Bonus Issue of Free Warrants 1:1 or 1:2 and the warrant conversion price is 5.0 sen or more of less around that.
4. If KLSE comes another rally and having a Bull Market.
5. Fintec shares consolidate 1:5. and c/w Free Warrants like Tanco and Resintc. No no for anymore Right Issue , PP, ESOS or SIS. Please. Please. Please.

1.432 Billion RI Takers at 8 sen c/w free warrants were the average price per share of Fintec in Nov. 2020 those days. Some ESOS takers even paid as high as 16.5 sen a share in June 2017 but later on, ESOS exercises prices kept falling non stop down to as low as 1.0 sen in 2022. Just imagine, how most Fintec investors suffered in silence all along from 2019 to 2022 seeing the prices kept falling until now. Fintec NTA is still strong at 5.0 sen a share now but because they kept issuing ESOS, PP and SIS for the past 3 years, even good company like Borneo Oil Berhad also succumb to the same fate as Fintec. Because too many shares were created into the open market chasing after so limited local investors. We just hope there is no more issuance of ESOS or SIS coming in the future as they surely bring the share prices down. Honestly speaking, today price of 1.0 sen is rare but it still happening every where in our Bursa. If one thinks of long term investment gain, investing in Fintec shares now is the most opportune and appropriate time ever to buy in. Happy investing everyone. Felt sorry for those early investors of Fintec. May you all be well and happy. My prayers for all Fintec shareholders to get your money back handsomely in the future.

BLee, Thanks for your update. Yes, with the arrangement done with Joe Glove, Fintec cash holding is now higher.

NTA still at 0.05 agst Mkt Price of 0.01 (500% discounted price if buy today). Source https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=0150

Many thanks to our Fintec supporters today buying up more than 50millions shares in the open market this morning session. Yes to the buyers with great applauses. Sad to see the sellers willing to depart their shares at 1.0 sen. Confidence will come back to Fintec soon. Watch out for those Fintec-PA. There are very limited Fintec-PA in the market to sell. If Fintec shares were to move up, PA shares will lead first, because PA is very small in numbers. Good luck everybody. Wishing all Fintec shareholders all the best, including me. Thank you all.

THANK YOU, whistlebower99.

Watching VSOLAR closely as Fintec and Vsolar are very close in market prices and NOSH. Meanwhile, SC not yet approve VSOLAR proposals.

In fact, whole KLSE taik....

True also BILLC. Same like he advised KYY to buy and sell so many stocks KYY played. All he knows first. He sells first and he buys first.

Thanks OTB for the Good Advises and posting
above.

Posted by OTB > 5 hours ago in the Forum : Why 90% of the investors lost their money in KLSE.

I want to show off here especially to those who attack me for no reason.

I made multi million from KLSE since 2013.
I made a lot of money in 2015, 2017, 2019 and 2020.
I lost in many stocks, I also make a lot of money on many stocks.
Overall I still made multi million in my investment is good enough.

Those have very good skills will make money quietly.
Not to attack others and talk bad about many stocks in I3.
Attack people and continue to talk bad about many stocks in I3 are real losers.

God will bless those with good heart and wish all readers in I3 to make a lot of money.
God will punish those with bad heart and attack all stocks after they sold.
Remember not to talk bad about any stock in I3 because many poor investors are investing their hard earned money in the stock market.
No advantage to you if you continue to talk bad or bad mouth any stock in I3.
You will cause more harm than good to those poor investors.
You will be blessed if you have a good heart to protect all poor investors.
Thank you.

No impact at all. It is just the beginning to divest a bit due to current circumstances. As a businessman myself, I understand their strategy. To me, its good sign for better concentration as an investment holding group rather than doing it on its own. Money collected from divestment can be put to better use. But use the money carefully, now that opportunities out there are aplenty. It is a win win situation for both Fintec and Joe. Joe Holding concentrates on manufacturing while Fintec is concentrating on investment in shares and equities. Easy isnt it? We must have our Right Understanding.

Company rumors lingering that they are con company are common everywhere. Even Genting stocks, Banking stocks and all good stocks I see kena left and right from people in the forum. Just let it be and do your research well, you will be safe.

pineapple123 : Musang King, you sounded like u keep averaging down the price of fintec because of the intention to get rid of this company ASAP when you achieved 1c profit? haha

Musang King : I keep for long term lah. Why sell when Fintec goes up one sen.? If 5 sen , maybe I consider selling some. Honestly, if I buy Fintec and keep now, if I don't make it rich in the future, I better not play buy stock anymore. Honestly. Buying now at 1 sen, where on earth can you find such a cheap and discounted stock? Think.

Agree with DSAI 100% this time. He said it Loud and Clear, but Mahathir is only interested in adding fuel to the Fire whenever he is out of the Gomen.

They cannot confiscate Petronas assets which belong to a private entity according to Tommy Thomas, our No.1 lawyer in 2018. All they can claim is RM5300.00 a year from the Malaysian Government only. He said. But that RM5,300.00 also no need to pay one after Malaysia got its Independence in 1957. The actual payer should be the British Empire, not Malaysia. But Malaysia was so good to pay even after Independence.

Pineapple123 : Musang King, you must be fearful every night looking at so many people really think Fintec is a con company.

Musang King : Not fearful at all cos I have averaged up Fintec shares quite a lot now that the price is at the lowest. Buy more now so that our Fintec average cost of holding will be as low as possible. Fintec is still solid with their money mostly invested for future capital gain. Very important. They are not as risky as those dealing in manufacturing, servicing, construction or adventures that need a lot of manpower. As you see in their latest move, Fintec is disposing 2 of their glove manufacturing lines to Joe Glove Sdn Bhd (100% subsidiary of Joe Holding Berhad} for RM14.47 millions. Good move indeed as Joe Holding Berhad is active in Manufacturing while Fintec is active in Investments only. Furthermore, JOE is very cash rich and investing in taking over Fintec Glove Manufacturing is timely for future manufacturing operations.

I understand there are so many bad comments because most people who commented are very angry with Fintec for issuing so many PP, SIS and ESOS that pulled down the Fintec market price, after they all bought shares when the prices were much much higher. If we take a look at Borneo Oil, they also did a lot of PP and ESOS that brought down their market share prices down to 2.0 sen while their business is very healthy and profitable. Despite their directors keep buying their own shares and have initiated buying back their own shares in the open market, Borneo Oil still drops continueously non stop.

I think the above case is very straight forward. Defendants Ricky Wong, his mother Teh Sew Wan and Wong SK Holdings Sdn Bhd contravened the Capital Markets and Services Act 2007 were investors buying up BPI shares and became a major shareholder holding more than 30% until now. He could have used Chairman Syed Ali and some staffs name to buy BPI shares at 60 to 62 sen a share. He made a good handsome gain of RM56 Mil at that time. He faced the music when somebody compaint to SC and he was sued. Today BPI share is trading at 17.5 sen a share but he is still holding 32.94% shares bought mostly above 60 sen each those days. He did not run away and he is still holding 32.94 interest in the Group. Just a case of using other people names, he landed himself in court. I think. What do you think Good123? Any link to Fintec? Nothing, isn't it except we should be alarmed if a PLC keeps issuing RI, PP, SIS and ESOS using other people names to buy and sell as in the case of Bright Packaging Industry Bhd mentioned above. Right? Good123. Thanks for your posting too. Good for Educational Purpose for all of us here.

How did he siphoned the money out? Anybody knows? What is the outcome of this court case?

https://www.theedgemarkets.com/article/sc-show-how-ricky-wong-siphoned-over-rm50m-bright-packaging-industry-rights-issue-private

MTRONIC & AGES mother shares are both doing very well today. Hope it also happens to Fintec later. Today our FINTEC queue buy increased to 682.96 millions with 1.494 orders. Selling queue is just 27.03 millions with 130 orders as at closing. There is sudden interest coming in to Fintec compared with yesterday buying queue for 646 millions with 1,420 orders.

Yes, to hell to all the old dynasties and old governments. We are the present. Take good care of our present situations. Got war, let's fight. Got foods, let's eat. Got money, let's use. Move on. We should not delve with the past. Move on, Malaysia. Nothing can stop us moving on.

One day, Malaysia will be separated for sure like how Russia was and how India was, by the Whites. There are signs of weaknesses in our present government unless we stay firmly close to China. Only China can help us Malaysia. China is extremely strong now, not like before WW2. China experienced this before but survived except the Taiwan issue only. Get advices from China. Everybody will be quiet. Now you all know, ex-PM good and close to China have a reason.

nicholas99 : When british cease control. why sulu no come up front and demand? now only talk.. celaka.. orang sudah merdeka.. baru mahu cakap raja sulu.. now many monarchy gg.. still dare talk raja sulu. even if they able to get back the land. one day also kena bring down. some more, they never govern the place before..

Last time their raja sulu lineage gone already.. then the government put new guy to continue their raja sulu lineage. don't know he is true heir or not.

CORRECT. IF SULU CAN DIG OUT OLD ISSUE TO DEMAND, THEN ALL THE RAJA RAJA AND OUTDATED SULTANS THAT MALAYSIA DO NOT RECOGNISE ALSO COME OUT TO DEMAND. I BELIEVE THERE ARE MANY OUT THERE.

855 posts

Posted by Musang King > 0 seconds ago | Report Abuse

Why? Because we have people inside Malaysia poked and added fire to it. Maybe got share if successful. I guess everybody knows. Just make don't know.

Well said and researched, BLee and good123. Both postings above are very very important and supreme alarming to know and take serious note of. I concur with good123 for his arguments and I applaud BLee for helping to search why auditors for AGES resigned. Thank you both.

http://www.taipeitimes.com/News/worldbiz/archives/2002/04/23/0000133100

https://www.asiafinancial.com/us-calls-for-payment-on-qing-dynasty-bonds-worth-1-6-trillion

The above bonds debts are even newer than the Sulu agreement you all talking about. If our government is strong like China, why bother to talk. Wasting time and energy. All of you.

The story begins nearly 100 years ago, in 1913, when the government of China began issuing bonds to foreign investors and governments for infrastructure work to modernize the country. As the country fell into civil war in 1927, paying these debts became increasingly difficult and the government fell into default. Even so, in April 1938, the Nationalist government of China began to issue U.S.-dollar denominated bonds to finance the war against Japan's brutal invasion.

Locked in a pitched battle for survival, the government issued these bonds into 1940. As part of its wartime financial aid, the U.S. government further provided a $500 million credit to China in March 1942, shipping gold there and helping to stabilize the currency. In return, it appears that the U.S. government redeemed some of these dollar-denominated bonds. But China doesn't appear to have repaid this debt either, according to State Department records, and the declaration of the People's Republic of China in 1949 ended decades of political, military and financial cooperation.

While successor governments are usually bound by the debts of predecessor governments, the new Communist government refused to pay any of these claims. The issue lay dormant for decades, just as the bilateral relationship did. Then, in 1979, as part of normalizing relations, Washington released government financial claims regarding the expropriation of American property and appears to have dropped the matter of the war debt entirely. However, it is one thing for government decision-makers to let go of government debt, however questionable that is.

What agreements also useless. If a Strong Government don't want to pay, even if you sue them up to the UN, also useless. From 19th Century up to 1947, Chinese Emperors and Chinese Komintang Government made so many Bonds Agreements promising to pay all Bond Holders their hard earned money they lent to the Chinese Government during that time. until now, China only chosen to pay some of the 1913 Bond Debts to the British Bond Holders in 1997. The rest of the Bond Holders in millions never get a cent back until today. The Bonds are all printed in Bold Colours with the Chinese Government Imperial Hand Signatory Chops. I have a few of these Bonds Certificates. Until today, Chinese Government do not want to pay. What can you do? Referring to all these Sovereign Debts that USA has a lot. Search Google, you will find out.

THERE ARE 2 REASONS WHY THE EXTERNAL AUDITORS RESIGN.

NO.1 : THE AUDITORS ARE FORCED TO RESIGN VOLUNTARILY DUE TO SC'S REQUIREMENT AND PUNISHMENT. THIS IS TEMPORARY AND WILL BE RE-APPOINTED BACK AFTER THEIR SUSPENSION PERIOD.

NO. 2 : THE AUDITORS RESIGNED AND REFUSED TO CARRY ON WORKING WITH THE COMPANY THEY ARE AUDITING IS ANOTHER THING, TOTALLY DIFFERENT FROM THE ABOVE.

PLEASE KNOW THESE TWO DIFFERENCES. THEY ARE VERY IMPORTANT. DO NOT MIX THEM ALTOGETHER AS ONE. FYI, REASON NO.2 IS VERY ALARMING AND SERIOUS. IT SHOWS THE AUDITORS HAVE NO FAITH IN THE COMPANY AND DO NOT WANT TO CONTINUE WORKING AS AUDITORS OF THE COMPANY THEY ARE AUDITING. AUDITORS ALSO CABUT, YOU SHOULD KNOW WHAT TO DO LAH.

BLee. AGES moving upwards is just the beginning from 4th July till now. Very interesting to see how it goes from now. AGES multiple proposals are straight forward. They were approved for 15:1 share consolidation when the mother share was traded pre-conso at 2.5 sen and then after consolidation, consolidated price went downwards south from 38 sen to 19sen a share. ( this was really a scary moment ). However, AGES got approval for their RI later for 1:2 with the issue price of RM0.20 a share based on the 5 days VMAP from 10/4/2022 to 15/4/2022 with discount ranging from 20 to 40%. of the shares.

Today, AGES swing back upwards to 46.5 sen closing. What a relief for all AGES investors? I hope AGES and MTRONIC continue to move upwards and hope they would continue to stay there longer, marking as a positive signal to all Penny Stock Investments in Bursa Malaysia.

Our Prayers may come true. Will buy up some 1 sen Fintec shares today. Afterall queued up daily for so many days at 0.005 also cannot get any. Thanks BLee.

Hi Bro.BLee. Sudden rise in Ages, the last few days. Investors have being scared for 3 months already. Like salt fish comes back alive. Awesome. Ageson. Thanks for informing. Wishing your Ages-PA goes up too. Cheers.

Thank you whistleblower99. For your constant reminders to all newbies. The recent Mitronic exercises were quite successful at this point of time if we were to take win now. I wonder anybody did a case study on Mitronic shares before and after the exercises. MSWG did gave out the warning to all minorities and newbies a few days back. The President said, speculation is legal while manipulation is illegal. But overall, many who cabut by now would have got a huge windfall already. Always TAYOR.

https://www.theedgemarkets.com/article/metronic-rights-subscribers-get-unusual-windfall-warrants-price-surpasses-mother-shares

Good pineapple123. Investors who come in now can buy at half a sen and one sen. They should not be guilty as they also can earn it if the price goes up later. There is nothing wrong to buy at whatever prices. It is not a bad deed. Maybe, M55555 is referring to the insider people who manipulated the prices and make them fall. To the new investors who bought in at the lowest price, it is indeed their good timing and also blessing.

pineapple123, the reasons why Fintec fell are obvious and many. There are :
1) bad comments and negative gossips about Fintec whenever those investors loses money.
2) bad market conditions as KLCI keeps falling after GE14 till now,
3) many additional listings like PP, SIS and ESOS (but these are ways how public listed companies can get additional sources of fundings to their companies they are running),
4) Covid19 Pandemic & MCO reason,
5) those investments that Fintec bought also fell too thus giving huge paper losses to Fintec accounting reports. I think this was one of the major reason because Fintec paper losses were huge - more than RM980 Millions as reported in the Quarter of June 2021 ,
6) no other good news even the new venture into rubber glove making becomes bad news.
7) World market also falling recently due to Russian Ukraine War, Inflation, Recession and Stagflation etc etc.

We all should bear our Right Understandings. I feel sorry too to those who really bought a lot during the early days before Fintec fell to 1.0 sen. These investors include those who took up PP, SIS and ESOS as well.

In fact most Fintec investors are all very angry because they all lost a lot. This is a fact as at now.

Now at this juncture, what we can do is either sell at today's price or hold on to the shares we have bought and pray hard for better days to come.

Good Luck and also TAYOR everybody, including me, an investor too.

Excellent post of Fugitive Soh Chee Wen and his deeds. Thank you bro.Good123. We are equally concerned about our current penny stocks manipulations in Malaysia. Yes. Do invest carefully brothers and sisters of the Stock Market. Our money are hard earned money while theirs are borrowed money, manipulated money or easy earned money whatever. Please be very careful in our investments. Good companies we must also give our appluases and credits while bad ones, we should help to blacklist them openly. So far, I believe Fintec is okay compared with others that I cannot mention bacause I have not review them. Sometimes, we cannot simply group them all together as bad. We must be sure and find out more through studies, due diligence and dialogs with the investors. Putting blames on them and saying negative comments against politicians and corporate leaders are very easy. But if the comments are not true, you achieve your own selfish desires and agendas but you have also done a lot of harms, bad karma and dishonesty in the eyes of the Above. Lets be fair if you want to cari makan, we must cari makan honestly. Directors who have bad intentions and bad deeds will face their bad karma and punishment now, later or forever. I too was a bit angry when I see Fintec market share prices kept falling down but I keep investing to level down my average cost for Fintec, hoping one day, Fintec will go back up and I will recover back all my paper losses. I have done my due diligence on Fintec quite awhile. Overall Fintec is still alright as they normally spent their funds towards investing also, like you and me. As you all know, Malaysian Stock KLSE is not performing. So do all of our other portfolio. Fintec holds some portfolio too and Fintec equally suffers the same like us. So be understanding and let our KLSE bounces back, we must wait. Good days will come back one day. Nothing is permanent. Everything is impermanent.

Even the Private Placement Subscription of up to 1,205,827,550 new ordinary shares in Borneo Oil Berhad by Macquarie Bank Limited cannot help to uplift Borneo Oil share prices at all. So, in share investments, we truly need to keep them for long term in order to gain in the share market.

Thank you Bro.BLee. You are excellent. Keep posting for I am learning a lot from you.

Yes. Thanks Bro BLee for updating me removing my doubts about Fintec share performances. Today, I did took a look at Borneo Oil Ltd share performances. They are not performing well either. Their market shares drop spontaneously after each and every ESOS or PP they exercised during post MCO periods despite the Borneo Oil Group is doing very well with many years of profitability. The ESOS and PP really diluted their NTA and their NOSH balloon to 8.342 Billions. Their director Datuk Joseph Lee @Ambrose even helped to acquire great number of shares in millions right from 2020 to 2022 and the group even bought back millions and millions of its own shares as treasury shares when their shares were dropping. Yet today, Borneo Oil shares are traded at 2.5 sen despite having an NTA of 11 sen. This proves what BLee said is correct. BLee said "In the year 2020/2021, due to expected slow down/lockdown of the economy, listed companies are allowed to raise funds with various instruments such as PP (30% of NOSH instead of 10%), ESOS/SIS and RI." and "The discount of around 10% on 5days VWAP of each issuance will definitely lower the trading price after the issuance".

Notice QR or AR are always 3 months late. Thats normal for all listed entities. If the entities whether listed or private enable to produce an AR or a QR within 3 months, credits should be given to them already. The only problem I see is, they choose their Standardised Annual or Qtrly Reports as required by the Bursa but nothing more. Many transactions with names of staffs, directors or related companies are hidden or suppressed to the maximum like secrets or trade secrets as you mentioned, "not obliged to mention". To me, Accounting is good and fine, but all in summary and standardized form. Even most Public Auditors do likewise.

Many thanks to BLee for your kindest helps in clearing most of my doubts reqarding my questions 1-6. I hope your answers will help to clear many of our Fintec investors doubts too. Sorry for my mis-understanding for my Q1 to 5. The answer for Q6 is it is not a mandatory practice for directors to own any shares In the company they are serving and if they do own any, it is not obliged for them to mention their holdings if they hold less than 5% of the total Shares. Correct me if I may guess wrong. Thanks.

Now, I have done my research quite in detail on Fintec by now. I have these questions in my mind which are alarming according to pineapple123. They are as follows:
1. Why Fintec shares dropped so low but Fintec directors not doing anything to help?
2. Why issue so many ESOS and SIS without naming the receipients?
3. Private Placements done in the past saying they were independent private investment entities cannot be revealed at that moment of placement. Later, it was conveniently forgotten.
4. Does it not create much suspicion amongst investors saying shares will be resold back to the public market after each and every ESOS or SIS exercises . There were evidences shown that after every ESOS or SIS issued, the market prices of Fintec dropped lower and lower until it is the lowest today?
5. If there are so much Cash in hand and Short Term Investments in the company, why not use them to support their own shares of Fintec by buying back their own shares rather than buying other public listed companies shares like Seacera, Saudee, Focus Dynamics, unquoted investments etc etc?
6. Why directors never own any shares despite after having so many ESOS and SIS exercises?

These are the questions bordering me after doing my research . Eventhough overall Fintec position is still solid and fine up till today but their share prices keep on dropping until investors now all losing their faith and confidence towards Fintec and its directors. Fintec directors got to wake up now as they are getting monthly fees and allowances for so long already.

pineapple123: @Musang King, putting the shareholders aside, do you know why the price from 19c slashed to almost 0.005c??

Is this not alarming to you?

Gathering from all the Listing Announcements from 2012 to 2022, The highest price paid for RM0.19 came from those early Warrant A holders who paid 19 sen each to convert their Warrant A to Asiabio Ordinary Shares in the year 2015 only. There was only 1 instance where 27.665 Million shares took up their ESOS to pay up Fintec RM0.165 a share on the 8/6/2017. Due to weak market sentiments plus very bad feed backs and negative comments on Fintec performances, Fintec shares dropped from the high of RM0.18 right down to RM0.005 today. The issuances of PP, SIS,ESOS and RI were all based on the last 5 days weighted averages of the Market Prices of Fintec from time to time. So, as at today Fintec still issue ESOS at the price of 1 sen because the 5 days weighted average is still around 1 sen. The last day closing was RM0.005 and this too has impact on the issuing price of ESOS if Fintec has to issue ESOS around these few days. There is nothing to be alarmed of as the prices are determined by the market forces ie. supply and demand. Today those who sell at RM0.005 are really at the lowest price and I believe they are forced to sell due to their own shortage of fund or lack of confidence in Fintec anymore.

Today, there are still approximately 27.5 Million Shares available for Sale at 1.0 sen a share at the close of the Friday Market yesterday 15/7/2022. This 1 sen may no longer be available if the market have confidence to snap it up. The current Market Sentiments are very bad now due to many reasons. The War, Pandemic, the Recession and Inflation every where. Fintec price may even drop to RM0.005 the lowest price in Malaysia but luckily, there are many half sen supporters waiting to buy. The number is huge, roughly 600 Millions a day waiting to queue at RM0.005 versus the selling queue of RM0.01 for approx. 27.5 Million shares to be traded.

TAYOR. My friends. Wishing you all a very good weekend.

Share capital Movements of FINTEC GLOBAL BERHAD - 2018 TO 2022.

NOSH 2018 was 525,815,172
In 2019, :
(a)issue 85,189,950 for conversion of 125,654,300 ICPS. (@ 1.3PS::1 Ord.Share)
(b) issue 104,970,900 Ord.Shares @ RM0.04 to RM0.055 under SIS
(c)issue 98,325,783 Conversion of 196,651,566 PS (2PS:1Ord.Share)

NOSH as at 30 April 2020 was 814,301,805

Between year 2020 to 2022 :
a) exercised 701,452,600 Ord Shares ranging RM0.028 to RM0.093 Under SIS
b) exercised of ESOS 500,000,000 Ord.Shares under ESOS @0.033 TO 0.055
c) converted 182,722,966 ICPS to 132,889,430 @ PS 1.3:1 Ord.Share)
d) Private Placement 364,254,000 PP FROM 0.020 TO 0.023
e) Rights Issue with Warrants C Total RI 1,432,718,739 RI @ 0.08
f) exercised of Warrants C 48,000 Warrant C @ 0.08

31 March /2021 NOSH was 3,945,664,574

June 2021 - ESOS FROM 0.033 TO 0.038 260,000,000
July 2021 - ESOS FROM 0.025 TO 0.028 330,000,000
Aug 2021 - ESOS @ 0.023 100,000,000
Sep 2021 - PP FROM 0.020 TO 0.023 595,132,900

NOSH 30/6/2021 = 5230,797,474 as Reported in the AR2021.

Nov 2021 - ESOS @ 0.018 200,000,000
Dec 2021 - ESOS FROM 0.010 TO 0.015 364,000,000
Jan 2022 - ESOS @ 0.010 88,000,000
Feb 2022 - ESOS @ 0.010 20,000,000
Apr 2022 - ESOS @ 0.010 20,000,000

SUMMARY OF TOTAL OUTSTANDING :
NOSH 30/6/2022 = 5,922,797,474 ( Paid up ranging from RM 0.01 to RM0.16 from commencement till now )
NOPS 30/6/2022 = 224,308,135 ( Pd up 0.08 already in Dec 2017. Expiring 4/12/2027 can convert anytime 1.3:1 Ord.Share but oblige to pay you back if Fintec happens to liquidate before expiry date )
NOWA 30/6/2022 = 170,092,828 (Expire 19/4/2024 @0.19 each - 22 Mths away from today)
NOWB 30/6/2022 = 116,443,428 (Expire 4/12/2022 @0.10 each - 5 mths away from today)
NOWC 30/6/2022 = 1,146,126,828 (Expire 20/12/2023 @ 0.08 each - 18 mths away from today)

Metronic Rights Subscribers Get Unusual Windfall as Warrant’s Price Surpasses Mother Share's

edgeinvest

Publish date: Fri, 15 Jul 2022, 08:38 AM


Metronic rights subscribers get unusual windfall as warrant’s price surpasses mother share's
KUALA LUMPUR (July 14): Subscribers to Metronics Global Bhd’s RM77.97 million rights issue, at six sen per share, appear to have an unusual opportunity to make attractive profit from the free warrants that came with their subscriptions.

Metronics Warrant-B rose sharply upon being listed on Bursa Malaysia on Wednesday (July 13), opening at three sen apiece and closing at 11.5 sen.

The warrants jumped further to an intraday high of 39.5 sen on Thursday, before paring gains to settle at 21.5 sen.

This compares to Metronic’s closing share price of nine sen, up two sen or 28.6% on Thursday. It was the most actively traded counter on Bursa Malaysia, while the Warrant-B was the third most actively traded counter.


The group’s Warrant-B can be converted to new shares at an exercise price of six sen.

An investor who owned 100 shares in Metronics before the rights issue would have been entitled to subscribe to 600 rights shares and 200 free warrants for RM36 or six sen per rights share.

If the 200 warrants were divested at 21.5 sen each or RM43 on Thursday, the investor would have made a profit of RM7, or a 19% gain from each warrant sold.

Metronic’s rights issue, which was 99.88% subscribed, was part of a series of corporate exercises proposed in November last year. It also involved a 10-into-one share consolidation, shrinking the group’s share base to 216.86 million on May 23 from 2.17 billion as of Nov 5 last year.

According to Bloomberg data, Metronic’s shares fell 47% to eight sen on May 23 when it completed the share consolidation, from 15 sen on Nov 19 last year when it proposed to undertake the corporate exercises.

Metronic proposed to raise between RM10 million and RM121.97 million with chief executive director Hoo Wai Keong and non-executive director Datuk Kua Khai Shyuan’s undertaking to subscribe in full to their entitlements. Hoo owned a 0.05% stake in Metronic before the rights issue while Kua owned 0.02%.

The group, which is involved in the provision of hardware and software required for buildings' control and management, also proposed to diversify into the solar energy business.

It is worth noting that these proposals came less than two months after Metronic completed an RM22.71 million private placement in September last year, via the issuance of 500.43 million new shares, equivalent to 30% of its share base before the placement.

Subsequent to the rights issue, several parties emerged as the group’s substantial shareholders, including Cita Realiti Sdn Bhd, which subscribed to 287.8 million rights shares giving it an 18.979% stake; Sanichi Technology Bhd with a 13.068% stake or 193.67 million rights shares; BCM Alliance Bhd (through BC Medicare Sdn Bhd) with a 6.66% stake or 101 million rights shares; and Bumi Resources Hub (M) Sdn Bhd with a 5.56% stake or 84.33 million rights shares.

Metronic's non-executive director Kua is the single-largest shareholder in Sanichi as at end-March this year with a 6% stake, followed by Cita Realiti’s 4% shareholding. BCM Alliance also owns a 1.8% interest in Sanichi according to the latter’s annual report for fiscal year ended Dec 31, 2021.

BCM Alliance’s annual report also shows that Sanichi was its third largest shareholder with a 6.1% stake

On Thursday, Metronic disclosed that another Bursa-listed company Fitters Diversified Bhd, through Fitters Property Development Sdn Bhd, has also subscribed to 201 million rights shares, giving it a 13.26% stake.

Cita Realiti ceased to be a substantial shareholder of Fitters on May 13 following a divestment of 25.29 million shares in the open market, shortly after emerging as substantial shareholder on March 21 with a 10% shareholding or 49.95 million shares via the subscription to 47 million private placement shares.

Sanichi’s group managing director Datuk Seri Pang Chow Huat, meanwhile, also owns a 7.9% stake in Fitters Diversified as on May 31.

Source: TheEdge - 15 Jul 2022

What is working capital according to the Bank of America.

You may not talk about working capital every day, but this accounting term may hold the key to your company’s success. Working capital affects many aspects of your business, from paying your employees and vendors to keeping the lights on and planning for sustainable long-term growth. In short, working capital is the money available to meet your current, short-term obligations.

To make sure your working capital works for you, you’ll need to calculate your current levels, project your future needs and consider ways to make sure you always have enough cash.

How to calculate working capital

You can get a sense of where you stand right now by determining your working capital ratio, a measurement of your company’s short-term financial health.
Working capital formula:
Current assets / Current liabilities = Working capital ratio
If you have current assets of $1 million and current liabilities of $500,000, your working capital ratio is 2:1. That would generally be considered a healthy ratio, but in some industries or kinds of businesses, a ratio as low as 1.2:1 may be adequate.
Your net working capital tells you how much money you have readily available to meet current expenses.

Net working capital formula:
Current assets – Current liabilities = Net working capital
For these calculations, consider only short-term assets such as the cash in your business account and the accounts receivable — the money your customers owe you — and the inventory you expect to convert to cash within 12 months.

Short-term liabilities include accounts payable — money you owe vendors and other creditors — as well as other debts and accrued expenses for salary, taxes and other outlays.

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