You are extremely lucky to have managed to buy at 3.5 cents within that very short period. I queued at 4 cents, but it did not catch. I waited for it to return 4 cents, but it never looked back.


Posted by future > 34 minutes ago | Report Abuse

After buying low at 3.5, obviously time to take profit, today T+2. Waiting red.

After reviewing the audited Annual Report (AR) and following the Reneuco saga, I can summarise as follows:
1. The auditors were unable to verify the accuracy of certain figures, primarily data related to three hydroelectric projects dating back to 2019, which were managed by the previous administration.
2. A Special Investigative Review (SIR) team was formed, which conducted an independent review and produced a report with recommendations.
3. The auditors could not verify all the figures by 8 February; hence, they were unable to complete the audit.
4. Reneuco faced a decision: either grant the auditors additional time to complete the audit, risking suspension due to the inability to release its annual report on time, or accept the auditors' inability to express an opinion and release the annual report on 8 February, which would result in being classified as a PN17 company.
5. Reneuco chose the latter option and has now been classified as a PN17 company.

In the stock market, it doesn't matter if a company is performing extremely poorly or extremely well; as long as you can buy at a low price and sell at a high price, you are the WINNER.

The hydroelectric projects are capital-intensive, which the company developed using its own funds and then charged a tariff. The comment from the Special Investigative Review (SIR) suggests that the company is advised to lengthen the loan term to make it financially manageable. The return on investment (ROI) will take years



Posted by linheng > 30 minutes ago | Report Abuse

18-Jan-2024 19-Jan-2024 Others 21,023,125 0.143
21-Dec-2023 22-Dec-2023 Others 29,411,764 0.136
14-Dec-2023 15-Dec-2023 Others 11,029,411 0.136
08-Dec-2023 11-Dec-2023 Others 14,705,882 0.136
06-Dec-2023 07-Dec-2023 Others 7,352,941 0.136
17-Nov-2023 20-Nov-2023 Others 33,088,235 0.136
07-Nov-2023 08-Nov-2023 Others 29,411,764 0.136
19-Oct-2023 20-Oct-2023 Others 16,383,112 0.159
11-Oct-2023 12-Oct-2023 Others 17,643,352 0.159
20-Sep-2023 21-Sep-2023 Others 8,998,200 0.167
08-Sep-2023 11-Sep-2023 Others 2,953,337 0.169
04-Sep-2023 05-Sep-2023 Others 8,860,011 0.169
29-Aug-2023 30-Aug-2023 Others 5,858,230 0.171
19-Jun-2023 20-Jun-2023 Private Placement 8,129,600 0.213
18-May-2023 19-May-2023 Private Placement 17,400,000 0.200
13-Mar-2023 14-Mar-2023 Private Placement 28,750,000 0.230
All this money raised form placements and Convertable bonds gone?

PN17 COMPANIES AND Price
RENEUCO 0.07
AGESON BERHAD 0.07
ALAM MARITIM RESOURCES BERHAD 0.025
ASIA MEDIA GROUP BERHAD 0.085
BARAKAH OFFSHORE PETROLEUM BERHAD 0.035
BERTAM ALLIANCE BERHAD 0125
BINTAI KINDEN CORPORATION BERHAD 0.075
CAPITAL A BERHAD (FORMERLY KNOWN AS AIRASIA GROUP BERHAD) 0.705
E.A.TECHNIQUE (M) BERHAD 0.25
EPICON BERHAD (FORMERLY KNOWN AS KONSORTIUM TRANSNASIONAL BERHAD) 0.385
FSBM HOLDINGS BERHAD 0.335
IQZAN HOLDING BERHAD 0.005
IREKA CORPORATION BERHAD 0.435
IVORY PROPERTIES GROUP BERHAD 0.07
KHEE SAN BERHAD 0.135
KNM GROUP BERHAD 0.09
PERAK CORPORATION BERHAD 0.43
PHARMANIAGA BERHAD 0.42
REACH ENERGY BERHAD 0.03
SAPURA ENERGY BERHAD 0.05
SARAWAK CABLE BERHAD 0.13
SCOMI ENERGY SERVICES BERHAD 0.005
SERBA DINAMIK HOLDINGS BERHAD (IN LIQUIDATION) 0.02
ZELAN BERHAD 0.055

Expect the Serba Dinamik pattern:
1. AR will eventually be issued
2. Suspension lifted
3. Major sell-down
4. Wound licking

If you're buying to hold, that's okay. However, be prepared to hold for quite some time and be ready to face the worst-case scenario.

The suspension will begin tomorrow. Please note that when the big players RUN, you will already be left far behind.

Bursa Securities had said in an announcement the previous day that it would suspend trading in Renueco's securities at 9am on Feb 9, 2024, if it failed to submit its annual report for the financial year ended Sept 30, 2023, by Feb 8, 2024.

The submission deadline represents five market days after Jan 31, the stipulated timeframe for submission of its financial statements under the Main Market listing requirements.

Furthermore, if Reneuco fails to issue the outstanding financial statements within six months from the expiry of the relevant timeframes, Bursa Securities said it may proceed to delist the company.

Volatility is high, please exercise extra caution when deciding to buy or sell. Also, closely monitor the market tomorrow if you decide to buy and hold.

Upon reviewing the quarterly report, it is clear that the company is short of the necessary funds to carry out its projects. It relies on issuing new shares to acquire the needed capital, yet this method is now overused and has become unreliable.

It appears that a suspension on February 9th is imminent.

This share will definitely go up. To win, you need extra patience and holding power. Currently, it is somewhat slow and can be frustrating if you are holding its shares.

In addition, Karim is no longer a shareholder of SCIB. After Karim ceased to be a shareholder, a new management team took control of the company.

Serba Dinamik and SCIB are not comparable. The downfall of Serba Dinamik is attributed to its poor financial condition and issues with its annual report. Conversely, SCIB is in a manageable and healthy financial state. Therefore, it is unlikely that SCIB will follow the same path as Serba Dinamik.

It is not too bad for SCIB, multiple factors exaggerate the downfall. It got a construction contract from UMK. I still remember when Menang Corporation got a construction award for KUKUM (UNIMAP), it jumped from a penny stock to a multifold of its original price.

I sold mine 1100lots at RM1.02 in the last 2 weeks and rebought 1000lots today at RM0.235. After I sold, it jumped to RM.120, but I just closed my eyes.