I read some of the recent comments in this forum. Realistically one needs to look at Pasuk latest balance sheet. Company is still cash rich. Don’t worry. Will not be a PN17 company any time soon.

Believed show over. Now even below RM0.70 Operators already exiting in stages & moving to greener pastures.

You are right NoEmo. This only happens under Bursa. ESOS normally given to all employees as an incentive and to thank them for their loyalty and hard work . On a brighter note with the ESOS BCMall is even more cash rich for further M&A activities and expansion. Believed BCMall have great potential to pump in so much money

I am surprised only 2 employees are each offered 164M & 305M BCMall shares respectively to suddenly become substantial shareholders. Wow! Got so much money to buy so many shares

I am surprised BCMall is allowed to issue 469M BCMall shares under ESOS scheme without having to call for an EGM or get SC approval. Something is very wrong. Instead of protecting the interest of minority shareholders SC is allowing excessive dilution of capital at the expense of small shareholders. Assuming BCMall have 100 employees, in theory each employee will be offered 4.69M BCMall shares valued at RM140,700. It makes me wonder how many employee have available cash of RM140,700 to buy 4.69M BCMall shares

Have not seen any announcement of any legal action taken against the parties that owed VC the RM14M to recover the bad debt. What can small shareholders do?

I refer to VC announcement yesterday. How can VC BOD in the money lending operations lend out RM14M to companies without any securities which eventually became bad debt. RM14M is no small sum. No company will lend out such a big sum without securities. Who approved this loan? What steps are taken to recover the bad debt? Shocking!

Which public listed company is a substantial shareholder of BCMall? If BCMall price jump up substantially that cash rich public listed company will reap huge profit. Buy

Sanichi now moving. Told you guys Sanichi is too assets & cash rich to be ignored. Even at RM0.04 it is still undervalued. It’s NTA is RM0.26

If BCMall price appreciated, which public listed company being a substantial shareholder with 7.88% will also reap the benefits from its BCMall investment

BCMall is a cash rich company. From its latest financial results BCMall have cash RM70M Another RM36M in FD BCMall announcement 26 Nov unrealised profit of RM20M At RM0.03 BCMall market capitalisation is only RM47M Based on BCMall financials will you still sell at RM0.03?

BSL Corp story I believe is over. Those behind the run up last 2 months have already made their pile Sanichi is too cash and assets rich to abandon

Until now VC BOD yet to fix price for PP. Looks like with current depressed investors sentiments BOD have difficulty getting investors to take up the PP and inability to push up VC price to achieve the targeted amount. With prices of constructions materials going up next year and the lack of financing very likely there will be more cost over runs and The Louvre not likely to be completed by mid 2022

Sell BSL Corp. Buy Sanichi. At RM0.035 grossly undervalued. Market capitalisation only RM49M. Total assets RM463M Cash & cash equivalent RM171M Profit RM2M Cheahgood, buy back Sanichi. Future market king pin. Some analysts calling Sanichi price in booming mode with big upside potential. Another said Sanichi has a positive outlook. A cash rich company with strong fundamentals at RM0.035 is just too cheap to ignore given the management team behind the company.

Despite the COVID-19 pandemic and current tough business environment Sanichi is able to make a profit and best of all to be cash rich which is very good. There is no justification for Sanichi market capitalisation at RM49M when total assets is RM463M. An investment company is saying Sanichi has positive outlook.TP RM0.20+

Sanichi just released 3rd Qtr results. Revenue almost double previous yr same quarter. Profit RM2M Cash in bank RM171M BUY

Sanichi current Total Assets RM461M Total Liabilities RM81M Net Assets RM380M Cash & bank balance RM184M. Sanichi at RM0.03 market capitalisation only RM42M. If somebody were to put in RM40-RM45M may be able to gain controlling interest of a company with cash RM100+ M & net assets of RM300+ M as substantial shareholders hold less than 10%

From VC latest financial results Total Assets RM335M Total Liabilities RM101M Net Assets RM234M At RM0.065 VC market capitalisation only RM48M. Ridiculous A company with RM234M net assets market capitalisation RM48M Somebody with just RM40-RM45M can get controlling interest of a company of net assets RM200+ M So much pessimism as if VC is a PN17 company. Some PN17 company market capitalisation more than VC

At the end of BSL 4Qtr total revenue RM159M with total assets RM171M & total liabilities RM51M At RM1.77 BSL market capitalisation RM347M Based on these numbers what will you do?

I expect some substantial shareholders will soon par down their stakes and depart BSL. The good question is when and which company will they next invest.

VC just released its latest financial results. Given the current business environment not bad that VC managed to break even. Price unduly depressed due to pessimistic perception of the company with the massive 380M PP

Looks like morning up afternoon down Show over again? Anybody got trap?

Warrant now at RM0.75 Looks like Investors taking money off the table Why wait? Any warrant sold is money in the pocket

Yes. Warrant still in the money but why nobody have yet to convert to mother? Why so many investors selling warrant?

Looks like the 388M PP is too massive. BOD has yet to fix PP price I suspect probably due to difficulty securing interested parties for PP. Maybe better for BOD to call off PP, take a bank loan to complete The Louvre to regain investors confidence and move forward with new projects

Warrrant keeps dropping. If take warrant price & factor in converskon, valuation of mother below RM1.50 With no volume better stay out and watch on the sideline

Warrant dropped to below RM1.00 Not a good omen. Possibly game over

Today no volume. Warrant also dropped to RM1.01 Sharks departing? Cannot afford to get caught and give back your earnings. Be extra careful.

VC cannot even clear RM0.085 convincingly f1888, how to reach TP RM0.10? Still so many sellers at RM0.075 Makes me wonder whether VC still have business associates & retailers support to push price to even RM0.0.9 and beyond

It has been 2 weeks since PP approved by EGM Until now still no price fixing. Is the delay in fixing PP price because BOD having difficulty securing investors to take up PP?

Since your free facilities end 16 Nov f1888, I presume you must make a decision by 15 Nov. Do you think VC price will increase within next 2 days)

If BOD were to fix PP at RM0.08 will be able to raise only RM31M which means the average price for 5 days prior to price fixing average is RM0.09 with the usual 10% discount

From the results of EGM, CSY & friends only accounted for 244M The motion can easily be defeated if more shareholders were to attend the EGM. Have only ourselves to blame for the massive dilution of capital The shareholdings of VC are too fragmented with hardly any institutional or large corporate investors. Hence VC BOD can easily sideline small & retail investors. On hindsight VC BOD need to push up price.If PP price too low will not be able to raise required funds to meet the targeted amount.

You are lucky f1888 to have T10 interest free facilities. We ikan bilis only enjoy T2. Looking at the drop in volume ptobably cpuld have been taken up Clearer pictutre after today's EGM

Good to hear from you again Michael Kwok. A TP of RM0.10-RM0.12 is not unrealistic when VC NTA is RM0.35 and RI is at RM0.17 At RM0.075 VC market capitalisation is only RM54M when total assets are RM338M

Good analysis f1888. Assuming 40% PP approved VC NOSH will increase to 1,1140,000,000 CSY currently holds 177M CSY share will be diluted to only 18%. If the 40% PP were to be placed out to one party which I don’t think BOD will do, that party will become the largest shareholder. The new shareholders that subscribed to the PP holding cost will be less than CSY. No matter how you look at it CSY must buy in cheaper than the PP new shareholders and at the same time increase her shareholdings before dilution by PP. Otherwise a hostile takeover will be a real possibility since CSY will only hold 18% of the NOSH with 40% PP. Hence no option but to give notice to bursa on 25 October to deal. Unless VC price appreciate, no point to carry out such massive PP just to raise RM30M and in the process diluting the capital base and destroying small shareholders & retailers confidence & goodwill. VC BOD must realise long term will need the support from the investment community and instilled confidence and change retailer’s perception of the company

Agree with you f1888 on the macro picture. On the company perspective CPH never made any attempt to buy back since he cease to be a substantial shareholder on 9 July 2020. Why now?

f1888, Glad you have managed to buy all RM0.075. Don’t be in a hurry to sell, Possibly by next week before EGM may go higher than RM0.09. If got holding power hold

You are right f1888. Let us see how well absorb the selling of the last few days

From today’s closing I feel VC still very much in play. Once directors have accumulate sufficiently will not allow VC price to fall too low to allow hostile party or a raid on the company. Believe the 60M conversion from WC must have given them a shock to start buying in by notice to bursa on 25 October

I suspect the massive selling yesterday was probably to enable directors to accumulate cheaply. Please refer to VC announcement to bursa on 25 Oct. CPH is not a shareholder yet intend to deal meaning to accumulate VC & warrants

Brilliant but cruel move to massive sell down yesterday to create panic amongst speculators for them to cut loss and enable them to accumulate cheaply. The interested party will start buying in again at RM0.08 If want to accumulate large quantity may be different to do at RM0.075

At RM0.085 buying opportunity

You are right f1888 VC BOD can easily take a bank loan to complete the project instead of a massive 40% PP. Irresponsible. Do not care for small shareholders interest

f1888, You could be right. The party that converted may have already quietly collected VC. BOD could be caught off guard hence need to come out with statement to bursa of intention to deal to fend off a hostile bid. If CSY lost control will lose big time as last year converted VC PA at a high cost, diluted with share consolidation as well as subscribed to RI at RM0.17 The question of cost is now secondary. Which party will eventually have controlling interest. If CSY have anticipated a take over will not have sold off all her VC WC

As of yesterday CSY only has 177M. CPH does not hold any shares Free float is estimated to be 450M shares The party or company that converted the 60M VC is still a mystery. May still have a number of shares or warrants yet to be disclosed but CSY & CPH being directors have to disclose their shareholdings and is an open secret unless they buy in more substantially today. My feelings is the party that did the conversion would have study carefully and weigh the risk and the consequences of failure before making such a move.

40% PP is initiated by BOD. If approved small shareholders like us will be at a disadvantage as new shareholders will be eligible to buy a large number of shares at a much lower price than most of our holding cost. If the 40% PP approved the person or company that converted will see the stake of 60M shares being diluted as the PP will allow others to buy in cheaply. Not in the interest of the person or company to allow the EGM proposal to be approved. Will definitely try to block by accumulating more shares than CSY & CPH. Small shareholders like us should attend the EGM to oppose the proposal.

Changes in substantial shareholders of VC-PA, VC-WB & VC-WC I believe need not be reported to Bursa. Only need to be reported in AR. This may be the hidden trump card to be played only when needed. I expect VC-PA, VC-WB & VC-WC that has been ignored will come into focus now

Board Room tussle is on. Today VC announcement CSY gave notice of intention to deal in VC & VC WC (Do not own any VC WC Have sold all ) & CPH intention to deal in VC, warrants & ICPS although currently do not own any. Looks like CPH intend to buy VC, VC PA, VC WB. VC WC, with intention later to convert to VC,

After the Teoh family took over MSCM and changed name to Hong Seng the price has appreciated to over RM3.00 Hong Seng market capitalisation grew to a RM9B company. I hope the party that converted the 60M VC will be able to take controlling interest and transform VC to even greater heights just like Hong Seng.