http://www.thebigresetblog.com/

http://www.maxkeiser.com/2017/08/gold-reset-to-10000oz-coming-by-january-1-2018-rickards/

Hap Seng and Hap Seng Insurance is the single largest shareholder of Bornoil..
Under their ownership, Bornoil has gone into gold mining and gold hedging....
Will they in the long run make Bornoil become like Hap Seng....a billion dollar market cap co?

World currency competitive devaluation and currency manipulation issues, Trump talks about gold pegged USD and market talks of USD reboot and China advocating IMF SDR etc. If USD reboot by pegging gold to USD10,000 / oz happens.....anything can happen......

http://www.zerohedge.com/news/2017-08-30/gold-reset-10000oz-coming-january-1-2018-rickards-0

https://www.forbes.com/sites/ralphbenko/2017/02/25/president-trump-replace-the-dollar-with-gold-as-the-global-currency-to-make-america-great-again/#3c7001624d54

Financial Year: 31-Dec-2017
28-Aug-2017 30-Jun-2017 78,220
31-May-2017 31-Mar-2017 203,782

Financial Year: 31-Dec-2016
28-Feb-2017 31-Dec-2016 308,605
30-Nov-2016 30-Sep-2016 71,152
30-Aug-2016 30-Jun-2016 93,018
01-Sep-2016 31-Mar-2016 295,282

Next QR likely out only in Nov17.....still long way to go...
If QR out early and got dividend 0.002 DPS ...likely go the way like Huaan

6. Corporate Proposal

Save as disclosed below, there were no corporate proposals announced but not completed as at the reporting date.
(A) On 23 December 2016, the Company had entered into a Settlement Agreement with EMAS
Offshore Limited (“EOL”) (“Proposed Settlement Agreement”) to achieve a full and final
settlement of the disputes, differences, claims, and counterclaims against each other arising from or in connection with the Share Sale Agreement Dated 23 December 2013 (“SSA”) and Put Option. (i) Salient Terms Of The Proposed Settlement Agreement
Pursuant to the Proposed Settlement Agreement, EOL and Perisai (each referred to as a “Party” and collectively, the “Parties”), had mutually agreed to the following:-
(i.i) Consideration
(i.i.i) The consideration for the Put-Option Shares (as defined in Paragraph i.ii.ii(aa) below) is
USD43,031,406.55 (“Consideration”) to be satisfied by EOL in the following manner:
(aa) USD20,000,000 in cash on the Completion Date (as defined hereunder);
(bb) USD23,031,406.55 (“Deferred Payment Amount”) will be deferred and paid in cash
(either in the form of a bullet payment or by instalments) on the Maturity Date (as
defined in Paragraph i.v below); and
(cc) The Deferred Payment Amount shall be subject to interest at the rate of 1% per annum
(“Deferred Payment Interest”) which shall accrue from the Completion Date to the date
of actual payment of the Deferred Payment Amount.
.....
-----
-----

Approval Required
The Proposed Settlement Agreement is subject to and conditional upon approvals being obtained
from, inter-alia, the following:
(a) the shareholders of Perisai at an extraordinary general meeting (“EGM”) to be convened;
(b) (i) the noteholders and financial lenders of Perisai in respect of the bond restructuring, and
the restructuring of any outstanding indebtedness that Perisai owes to any such financial
lenders; or
(ii) alternatively, an order granted by the High Court sanctioning a creditors’ scheme of
arrangement pursuant to the Companies Act 1965 (Act 125 of Malaysia) approving, the
bond restructuring or the restructuring of any outstanding indebtedness owed by Perisai
to any of its financial lenders;
(c) Labuan Financial Services Authority, if required; and
(d) any other relevant authorities/ parties, if required.
The Proposed Settlement Agreement is not conditional upon any other corporate exercise/scheme of the
Company and is expected to be completed by third quarter of 2017.

2. Material Change in Profit Before Tax (“PBT”) In Comparison to the Preceding Quarter For the current financial quarter ended 31 December 2016, the Group recorded a PBT of approximately
RM17.65million against a LBT of RM265.82million recorded in the preceding quarter. The increased in PBT was mainly due to higher provision for impairment on investment in joint ventures, plant and equipment and prepayment in the preceding quarter.

3. Future Prospects
The outlook for the demand for the oil and gas assets in the short to medium terms remain challenging. The Group will remain cautious on its capital and cost management. Operational efficiency of the operating assets is expected to be maintained. The contract for Perisai Kamelia and 8 offshore support vessels will be expiring in May 2017 and Aug 2017 respectively. The Group is pursuing various opportunities for all its assets.

The Company is in the midst of formulating a regularisation plan which will be submitted to Bursa Malaysia within 12 months from 12 October 2016 as the Company has triggered the prescribed criteria pursuant to Paragraph 8.04 and Paragraph 2.1 (f) of Practice Note 17 (“PN17”) of the Main Market Listing Requirements (“LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) after its wholly-owned subsidiary, Perisai Capital (L) Inc had defaulted in payment of the principal and interest for the SGD$125 million 6.875% multicurrency medium term notes. Principal adviser has been appointed to assist the Company on its regularisation plan.

The Corporate Debt Restructuring Committee ("CDRC") has on 9 November 2016 accepted the
Company’s application for assistance to mediate with the Company’s lenders on a proposed debt restructuring scheme. CDRC has requested the Company’s lenders to observe an informal standstill and withhold litigation proceedings against the Company with immediate effect. CDRC requires the Company to submit a Scheme within 60 days from 10 November 2016. CDRC is a pre-emptive measure by the Malaysian Government to provide a platform for corporate borrowers and their creditors to work out feasible debt resolutions without having to resort to legal proceedings. This initiative has been put in place to ensure that all avenues are made available to assist distressed corporations to resolve their debt obligations.The proposed debt restructuring scheme was submitted to CDRC and the first meeting with the Company’s lenders was held on 14 February 2017. The proposed debt restructuring scheme is targeted to be finalized by end of March 2017.

On 12 January 2017, the Company and its wholly-owned subsidiary, Perisai Capital (L) Inc (“Perisai Capital”) have been granted orders pursuant to Sections 176(1) and 176(10) of the Companies Act 1965 (“the Act”) by the High Court of Malaya (Commercial Division) at Kuala Lumpur restraining all proceedings and actions brought against the Company and Perisai Capital (“the Order”). The Order was applied for as part of the Company’s plan to regularise its and the Group’s financial condition through, amongst others, proposed schemes of arrangement. The details of the proposed schemes of arrangement which will be issued to the Scheme Creditors, will be announced in due course. The Order is for a period of ninety (90) days effective from 12 January 2017.

The schemes of arrangement is expected to be completed by third quarter of 2017

For the current quarter ended 31 December 2016, the Group generated total revenue of RM38.27million, a decrease of RM16.98million when compared to the amount of RM55.25million in the previous corresponding quarter ended 31 December 2015. The decrease in revenue was mainly due to lower charter rate in the fourth quarter ended 31 December 2016 after completion of the Farm-Out contract to HESS on 6 August 2016. Profit before tax (“PBT”) from continuing operations for the current quarter ended 31 December 2016 amounted to RM17.65million, an increase of RM677.88million when compared to the Loss Before Tax (“LBT”) amount of RM660.23million attained in the corresponding quarter ended 31 December 2015.

The decrease in LBT was mainly due to the provision for impairment on plant and equipment and
prepayment in the corresponding quarter ended 31 December 2015. Total profit net of tax from both continuing and discontinued operations for the current quarter ended 31 December 2016 amounted to RM15.19million, an increase of RM734.95million when compared to the total loss net of tax from both continuing and discontinued operations amount of RM719.76million attained in the corresponding quarter ended 31 December 2015.

The increase is mainly due to the provision for impairment on plant and equipment and repayment and partly offset by lower loss from discontinued operation as result of lower provision for impairment on plant and equipment and no depreciation charge is required under the provisions of MFRS 5 “NonCurrent Assets Held For Sale and Discontinued Operations” for assets which are held for sale.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5347869

http://klse.i3investor.com/servlets/stk/chart/0047.jsp

http://klse.i3investor.com/servlets/stk/fin/0047.jsp

Quarterly results out after mkt close shows qtr revenue stabilse at around $38mio.Excellent cost controls turned around PBT of $10Mio....CRDC is on board....

LOOKS LIKE THE CLASSICAL DOUBLE BOTTOM FORMATION with rounding curve on both price and volume is forming.....work in progress... Neckline at 0.15 with lowesr bottom at 0.04...TP at 0.25.......coincidentally equals 1st private placement issue price 0.25 also.

Eventually will fly before end Mar17....if CRDC works out by end Mar17..

If double bottom is formed, will close gap that initiate the double bottom with tp 0.25

https://klse.i3investor.com/servlets/stk/chart/0047.jsp

Chart forming a double bottom?

https://www.yahoo.com/news/u-navy-destroyer-fires-warning-shots-iranian-vessels-122748841.html

https://www.yahoo.com/news/u-navy-destroyer-fires-warning-shots-iranian-vessels-122748841.html

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5301801

Perisai excercise put option - SJ Marine 51% sold to Emas Offshore.......OSV idling and impairments mitigated..

Perisai bond guarantee is for SJ Marine......

SP 2017 Stock Pick 2017 Portfolio created

http://klse.i3investor.com/servlets/pfs/71048.jsp

My Pick

1. Armada 20%
2. SKPetro 20%
3. TSH 20%
4. RSawit 20%
5. Hibiscus 20%

http://eresearch.bursamalaysia.com/download.aspx?id=19071&type=research

Nyam Nyam .....TP 0.395?? Slowly and steadily

Patiently collect and keep....cheapest FMCG - Poultry counter...

Good to collect this one as well....

Good to start collecting.....TauRx, Las Vegas, Miami, Bihimi, GITP, etc.etc..

At 7.xx good price to start collecting again....

I think CPTeh is going to get it wrong. This market is likely to see a year end rally after October that may spill over into Mar-Apr 2017. Reason being early election is now an increasing possibility with opposition in disarray.

AyamTua ...jadi Ayam Goreng...hangus...

https://www.thestreet.com/story/13652834/1/seadrill-partners-sdlp-stock-plunges-on-distribution-cut.html

B10 will be not viable or requires subsidy for blending as crude oil has correlation with crude palm oil long-run

http://invst.ly/24bf4

http://invst.ly/24beo

Soybeans under selling pressure as the North American soybean harvesting between Aug-Oct gather pace. Hedge selling of beans stored into silo will keep market under pressure. Indon Msia production will peak in Oct seasonally. So between now till Sep, palm will be under pressure

OMG so fast got competition from Qoo10

http://list.qoo10.my/item/INTELLIGENT-PURIFICATION-ORIGINAL-GERMAN-IMPORT-CHIP-BLADELESS/476142766

https://sg.finance.yahoo.com/news/monetary-authority-singapore-charges-malaysian-073820644.html

Nightmare in the making or not, anybody's guess...government need money and milking everywhere. MyEG building foreign workers hostels and provide on-line tv.....then milking cows milk from those dependent on foreign workers..ka ka ka. IRB now says specialist cannot operate Sdn Bhd but only sole proprietor....and backdate to milk also... MAHB says 4 billion KLIA2 need to milk cows...ha ha ha

Typical short term thinking of milking cows milk....

Long run it will make industries relying on foreign worker no competitive and when these industries slows down, MyEG will be saddle with under utilised assets...and stuck with it.

http://www.thestar.com.my/business/business-news/2016/07/20/myeg-to-operate-worker-hostels-and-an-online-tv-channel/

Join the party if it do come....but careful, soft and nibble yah

Ooooooh....sign of early election coming next year.....

http://finance.yahoo.com/news/oil-still-heading-10-barrel-160014612.html

http://finance.yahoo.com/news/oil-still-heading-10-barrel-160014612.html

Good to accumulate...

http://finance.yahoo.com/news/oil-still-heading-10-barrel-160014612.html

http://finance.yahoo.com/news/oil-still-heading-10-barrel-160014612.html

http://finance.yahoo.com/news/oil-still-heading-10-barrel-160014612.html

Good for shipping & transportation, plastics, etc...

http://www.thestar.com.my/business/business-news/2016/06/25/btoto-slide-raises-questions/ Sell down can also make money mah........so long as you don't loose majority control / ownership. Berjaya group of listed companies all like that one mah......down down and down.......

https://sg.news.yahoo.com/najib-announces-rm500-duit-raya-115830628.html?nhp=1

Mek, kenapa Felda aja, yang lain anak tiri....

Private placement 5th lot x 600mil....completed. In total 30% private placement completed. Show begins....

Private placement 5th lot x 600mil....completed. In total 30% private placement completed. Show begins....

Follow Calvin sure go Holland. Palm Oil El Nino theme gone case.....lose pants on his recommendation on loading FCPO futures...
MPCorp koyak...now RHB Bank after their back on overdraft facilities.
All his theme koyak one.....becoming koyak king.

Hubline has correctly chosen to abandon container shipping to concentrate on dry bulk. Apparently dry bulk has turnaround since Apr16