unqualified audit opinion is a CLEAN report right? Why market panic i cannot brain hahaha. This is a PN17 counter and people know that. In the report of course should mention material uncertainty if the reg plan does not go thru. its a standard auditor's opinion

Perhaps approval from SC is around the corner. They submitted the regplan in Nov last year now ady 4-5 months

Bursa granted extension as they have progressed much so far. Operation & financial getting better. Park & do some chicken sleep. this counter have high chance in submitting their new reg plan & eventually exit PN17

Good time to collect

Incremental rise & corrections are normal. As long generally it goes upward. This type of counter for those who play mid to long term game will triumph

Getting delisted is not that simple. Other companies did not submitted their reg plan for more than 3 years with multiple extension then theyre doom. this eatech business are recovering & currently on track with restructuring + debt settlement. They did submitted but for whatever reason terminated the agreement with the white knight. most probably bursa will consider all this and grant more time if they need so.

Latest precedent case: Scomies. entered PN17 on Jan 2020. almost 4 years ady. never submitted reg plan. see bursa comments below:

"Scomi Energy's application was rejected as the company had “not demonstrated to the satisfaction of Bursa Securities any material development towards the finalisation and submission of the regularisation plan to the regulatory authorities,”

Despite that, they still have chance to appeal:
If Scomi files an appeal against the delisting by July 21, the July 26 delisting will be deferred pending a decision on the appeal. “However, Bursa Securities will proceed to suspend the trading of the company’s securities on July 24 even though the decision on the company's appeal is still pending,” it added.

https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-07-14-story-h-245654381-Scomi_Energy_to_be_Suspended_on_July_24_Possible_Delisting_on_July_26

How bout eatech? Have your own judgement

Yeap. I suggest we read whatever reports that comes out line by line. Only then we can see whether their plan make sense or just plain loop filler. Whatever the charts telling us, eventually fundamentals will always prevail. Provided that we can be patient and don’t let our emotion controls what we are holding on to. Like these vessel disposals, in short it looks like some bullshit move why only selling meager assets can hike the price up? But if we read the underlying rationale from the released reports, it’s actually a turning point towards their terminal goal to exit the PN status. If we can hold onto the fundamentals, we can hold our position until their plan realised. Just my 2 cents

I think it will break the resistance eventually. Based on Q1 result the current shareholders fund is RM45 mil. Plus the proceed from vessel disposal to settle off scheme creditors of RM135 mil, the shareholders fund will rise to 34 sen per share VS current 8 sen per share. No wonder the price going up as successful vessel disposal leads to settlement of outstanding creditors. When the NTA per share rise to 34 sen, it should address the factor that triggered the PN17. Im positive this counter will eventually freed from PN17

Seems the price moving to meet its fundamental fair value

Attention to all shareholders:

https://www.bfm.my/podcast/morning-run/the-breakfast-grille/ea-technique-berhad-pn17-2023-oil-and-gas

Somebody talking when he know shit abt corporate restructuring & only read the headlines. This particular counter the white knight inject RM60 mil to get the shares at discount. Seems fair for an investor coming during PN17 period. Read the reg plan thorougly esp on the prospects this white knight bringing on the table