AGM 10.30 am

Afternoon crash again?

Agree with roger.

Need magic BOTAK to make a statement that EKOVEST will be involved in BM in a big way at the AGM. No statement means it will be trading like a yo yo for a long time based on our assumptions. Going nowhere.

Just come out with it. Can't be anything worst than what happen today.

Back to yesterday's lowest price. All that hard work we did yesterday just got wiped out in one day. Good trick BOTAK !!

If your heart is not too good & you're in profit, take the profit & run. Don't think you want to go for another roller coaster ride. Botak's counter is not so easy to make money.

Roger, hope you shorted this after the first couple of transactions.

Matter of timing. Announcement at the AGM then we will have another 3 days of run. Now the only person making money are the insiders. Who is BOTAK looking after?

Good turnover in 15 minutes. We're NO 1 on the turnover list!!

Coming down faster than the up run before. Dump & Pump?

News not received well by the market. Sell high buy low. Run first.

Don't think it will limit up with an AGM in the next couple of days.

Don't forget we got an AGM on wed 27th Nov. All this action on the market will likely finish by tuesday.

Not slowing down. More to come tomorrow.

Don't trust roger3210.

where is this news coming from?

roger3210

Where is this news from? Did you make it up again.

The operating environment for Opcom Holdings Bhd is getting increasingly tough, so it is to the fibre-optic cable manufacturer’s credit that it has managed to deliver reasonable returns to shareholders over the last three years.

Opcom’s net profit grew a strong 67.1% to RM7.42 million in its financial year ended

March 31, 2016 (FY2016), before falling 3% to RM7.2 million in FY2017 and a further 7.2% to RM6.68 million in FY2018.

Between FY2015 and FY2018, Opcom’s net profit posted an adjusted three-year compound annual growth rate of 7.3% — the highest among its peers in the utilities, telecommunications and media sector.

Return on equity (ROE) came in at 9.33% in FY2016, 8.44% in FY2017 and 7.56% in FY2018, with weighted ROE over the three-year period at 8.18%, resulting in the company bagging the top spot among its peers in The Edge Malaysia Centurion Club Corporate Awards 2019.

Moving forward, however, it will be an uphill task for Opcom to show similar growth. Already, its FY2019 net profit has fallen to just RM462,000, given such factors as the rising cost of raw materials, lower industry price levels, ringgit weakness and an influx of cheap imports.

In addition, macroeconomic uncertainties have led to a big drop in demand for fibre-optic cable. Opcom says its selling margins have sharply reduced due to foreign competition and its inability to pass on increased costs to key customers.

Chairman Datuk Mohamed Sharil Tarmizi, who came on board on July 16, acknowledges that FY2019 has been a difficult year for the fibre-optic cable industry in Malaysia. However, he is counting on new businesses to prop up the group going forward.

“Our revenue profile continues to shift away from fibre-optic cables to our new businesses of engineering services, manufacturing of engineered plastics and production and export of thixotropic compounds, which were non-existent five years ago. [These] constituted about 62% of the group’s turnover this year. We expect our new businesses to further increase their contribution to the group’s revenue in the years to come,” he says in the company’s latest annual report.

Fibre-optic cable sales accounted for 38% of Opcom’s total turnover in FY2019 compared with 50% in FY2018. The group has invested about RM7.1 million in capital equipment for capacity expansion of the thixotropic gel business as well as a new warehouse storage facility.

Mohamed Sharil, the former chairman of the Malaysian Communications and Multimedia Commission (MCMC), took over from Tan Sri Mokhzani Mahathir, who resigned on June 1 after 10 years as the executive chairman, citing personal reasons. Mokhzani is the second son of Prime Minister Tun Dr Mahathir Mohamad.

His younger brother and Kedah menteri besar Mukhriz Mahathir is the largest shareholder of Opcom with a 15.28% stake as at Sept 20.

On Aug 13, Opcom announced that its deputy CEO and co-founder, Chhoa Kwang Hua, would go on a one-year sabbatical from Sept 7 to mark his 25-year tenure with the company. Chhoa’s absence presents an opportunity for the company to put its decade-long leadership succession plan into action, it says.

Opcom has had a strong rally on the stock market in recent months, climbing 41% on heavy volume between Aug 28 and Sept 30, on rumours that it would benefit from the National Fiberisation and Connectivity Plan (NFCP) to lay optical fibre cables across the country for faster internet connection.

However, on Sept 24, Communications and Multimedia Minister Gobind Singh Deo told reporters that the NFCP will not result in the government or the MCMC handing out projects to any party.

Opcom expects FY2020 to be a challenging year. “Our export business will continue to maintain its momentum, and we expect the thixotropic gel manufacturing business in Malaysia to be healthy, and the business performance of our UK associate company to be robust as in the preceding years. [We] continue to aggressively rationalise our operating cost to adjust to the weak business operating environment domestically,” Mohamed Sharil says in the annual report.

The Edge Markets

Got to attack the 0.815

Some positive news is coming out for such a high turnover of volume. Already the fourth highest turnover for the day, & it is not even lunch time yet!!!

AGM 27th NOV

Good call on Fintec.

Take care.

Ahmad Zahid also facing 40 charges of having accepted bribes from a company over the overseas visa system, totalling to 87 the number of all the charges brought against him.
Read more at https://www.thestar.com.my/news/nation/2019/11/17/zahid039s-trial-over-47-charges-involving-foundation039s-funds-to-start-monday-nov-18#thKaUZE7KoKIDuAp.99

If protesters are prepared to shoot police officers with arrows or throw petrol bombs at police they should be shot on the spot. There is no excuse for such behaviour especially when such actions results may result in taking a life of a police officer.

Banditos
Can't read any of the link to The Star. It's StarBiz Premium only for subscribers. If you can read it can you copy & paste. Thank You.

AGM on 27th Nov 2019

Felda sues Isa Samad, Shahrir, 19 others over Jalan Semarak land deal
Read more at https://www.thestar.com.my/news/nation/2019/11/15/felda-sues-isa-samad-shahrir-19-others-over-jalan-semarak-land-deal#tBASgqGIlxOicAQx.99

DPI Holdings plans to double its production capacity by 2020
https://www.nst.com.my/business/2019/11/538948/dpi-holdings-plans-double-its-production-capacity-2020

All the indicators for CPO are good.Price is up, exports increasing, output also increasing. So what is the excuse for FGV price to be still hoovering at 1.17-1.22.Base on all those reports this should be at 1.50 - 1.70. We now need EPF to be in this to boot it off.

Well since calvin started beating the war drums it has gone from a high of 0.81 to today's 0.705. You be the judge.

So what is the catch of buying 1000 shares @ 0.075? Is it worth the exercise? Make me understand why.

calvintaneng

I don't get it. What is in it for beating these war drums here. Are you being paid & by who? I noticed you hop off beating the drums for Opcom straight after your suspension & instead started supporting NETX. Now you are back here again. What is the catch? NETX hasn't really moved further than 0.02 & 0.025. Are you for real or a shepherd leading the herd to slaughter.

That looks like an indecision candle.

Material uncertainty on Prestariang as a going concern — auditor
https://www.theedgemarkets.com/article/material-uncertainty-prestariang-going-concern-%E2%80%94-auditor
https://www.thestar.com.my/business/business-news/2019/11/12/prestariang-independent-auditors-raise-concerns

Technically,there is a gap of 0,.67 to 0.715 which will eventually close sooner than later.

Like your earlier comment
" best is to wait for AGM and get your answers there."

Looks like KWAP at work again today.

You only need KWAP to keep buying to get the price to a reasonable level.

I thought it was already confirmed, just waiting for the resolution to be passed at the AGM..
Resolution 1
To approve the payment of a final single tier dividend of 0.4 sen per share for the financial year ended 31 May 2019.

If we ask the right questions & get the answers at the AGM on the 27th Nov, we might not have to rely on any of two camps who keep postings opposing news ( fake or not ).

Don't know if that purchase of 10 million shares as declared by Cita Realiti actually happen in Nov. Definitely not under my watch was there any turnover for any one day in Nov for 10 million. Maybe over a couple of days in Oct! In fact out for the 6 trading days of Nov nothing was even close to 2m a day.

aiaili2

I think some o the stuff posted by you needs a bit of clean up. Appreciate it if you make it without using vulgar words . There is no need for that on this forum.

Somebody desperate to off-load!!

WOW, What just happen? Why?

Slight road block here with the volume of sellers. Need to be able to take off the sellers before it moves to the next leg up.

roger3210
Give us the link to this bad news. Where is this news from?

JB-Singapore RTS Link to proceed with 36% cost cut: Malaysia PM Mahathir
Read more at https://www.channelnewsasia.com/news/asia/malaysia-singapore-rts-link-mahathir-johor-12051132
Is this the way PH work? So what can we be looking at? Like everything else it is still Mahathir calling the shots.

Don't think so. What is he going to do with this penny stock counter?

well is it going to stop at 0.97 or drop further to 0.79?