Bad news is is coincidence. nicely put. Continue to mask all the bad news and treat it as good news ya.
I dont know why you keep calling Fintec IR here? This is just a forum and you expect to get those ppl here to answer you? Might as well you go to your Menara Lien Hoe and seek for answer. Are you alright?

Musang King

Regarding the Resignations of Fintec Chairman and Fintec Auditors, they were just coincidences things happened in a different ways, just like the Glove Making decision. I should invite the IR manager of Fintec to explain here. The true facts and factors should be made know to satisfy our questions and inquiries. IR of Fintec. Please answer. I know the answers but IR is the better person to explain. Thanks.

Halo MusangKing, please stop digging old post and post it as if new article. I hope you not trying to mislead the public hear posting old news.

THE MALAYSIAN RESERVES WROTE :

Fintec Global first caught the public eye when it became a substantial shareholder in Seacera Group Bhd after acquiring 38.8 million shares or an 8.09% stake in the latter for RM18.59 million in November last year.

For the financial year ended March 31, 2020 (FY20), the group posted RM226.69 million net profit compared to RM40.02 million net loss in the previous year.

Its annual revenue rose 32.94% year-on-year to RM20.42 million, from RM15.36 million in FY19.

The increase of profit was mainly due to mark-to-market gain in the group’s long-term marketable securities, Fintec Global noted in its exchange filings.

The group added that its investment in marketable securities increased by RM287.08 million or 2.9 times to RM385.09 million as at FY20, against RM98.01 million in FY19, which was mainly due to fair value gain on quoted securities.

In addition to the existing investment portfolio in solar energy, engineering, food and beverage, financial and information technology, property investment holdings, manufacturing of ceramic tiles and property development, the group is seeking opportunities to invest into healthcare equipment manufacturing and/or trading business.

“The group intends to focus on the personal protective equipment (PPE) segment in view of the increase of global demand in PPE since the outbreak of Covid-19.

“The group intends to take advantage of this opportunity to tap into a growing segment to maximise shareholders’ return,” Fintec Global stated in its recent annual report.

As such, it is still actively examining several potential investments and incubation projects, and will be making disclosures in due course.

Fintec Global’s board of directors comprise independent non-executive chairman Datuk Seri Abdul Azim Mohd Zabidi, independent non-ED Ong Tee Kein, non-independent ED Leung Kok Keung, non-independent non-ED Tengku Ahmad Badli Shah Raja Hussin, senior independent non-ED Chu Chee Peng and non-independent ED Tan Sik Eek.

Abdul Azim, Tee Kein, Tengku Ahmad Badli Shah and Chu do not own big blocks of shares in Fintec Global.

However, Tengku Ahmad Badli Shah represents Pelaburan Mara Bhd which holds about 2.26 million direct shares in the investment group.

Hi, God of Gambler MusangKing, please continue buy and support Fintec shares price. Don't talk only ya. You been promoting Fintec all the way down to 0.010. One day your prayer will be answered if you sincere.

Musang King

Sad. Very Sad. Just looking at the None of the Directors owning any share in Fintec, sounded this RED ALERT. I pray Fintec Directors are diligent and honest in their works. Not owning a single share should disqualify them from holding any directorship position. We should make them to own some shares in the company as prerequisite to hold on to their Directorship. I also pray that SC should make this prerequisite a compulsory requirement. At least, they must feel how the shareholders feel.

Bro BLee, from the last annual report, the largest shareholder is only own 1.93% of Fintec. Just invest RM5m, you could be the largest shareholder and draw 500k monthly salary le. hehe

When the top shareholder only holding 1.93% and top 30 shareholders holding less than 20% with NOSH
5,903 Million. Easily 4.5 billion shares outstanding shares in bursa for you to wallop.

For those who talk so big want to buy, you can freely wallop until become the top shareholder.
With current market and the shrinking of buyer queue at 1 cent, your chance is coming soon.
Don't later when 1 cent become available, say didn't buy but want to wait 0.005 to buy.
Can see some talk big felle here taking this chance to talk big but actual no action done.

Crazy. People are buying 2.5 sen for CAP newly relisted on Friday. Truly conman company now NTA at Negative -3.0 sen yet inactive company. Might as well buy Fintec at 1.5 sen with positive NTA, and actively investing as an investment holding company. Hahahahahaaaa

Other stock you will classify a con stock but Fintec forever you won't.
The way justify for Fintec, like how smelly it smell also you will still say it is as fragrant as a perfume.

Qtr to Qtr - Investment Securities up 48 Mil., Plant & Equipments incurred 24.6 Mil., Sold Short Term Investment 29 Mil. Cash at bank also dropped to 3 Mil as at date 31/12/2022. Accruals to pay 11 Million. Luckily, there is sufficient amount of 53.7 Millions Receivables to pay the Payables for the time being.

Trading stock also got receivables?
Receivables can it be bad debt and written off later?
Does it look familiar to the now demise Transmile stock?

@BLee, I don't know what are you talking about. Profit realized from warrant you take into consideration but you close the eyes on the paper loss it is sitting with the mother share. I really don't know what investment method you using. This is as good as making accounting fraud to bluff ppl telling ppl company making profit without considering the paper loss it is sitting.



BLee Hi Bro @Musang King and @alan123, disposal of warrants usually not reported. I have assume the followings:

Asiabio Capital Sdn. Bhd. hold 421,600,000 ATS shares as reported in ATS AR2021

RENOUNCEABLE RI..AT SYSTEMATIZATION BERHAD (''ATS''..) RM0.035 PER RIGHTS SHARE.. FREE DETACHABLE WARRANTS IN ATS (''WARRANTS C'') ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ORDINARY SHARES..

As at date of ATS AR2021, Asiabio Capital NOT listed in the top 30 major shareholders of AT-WC indicating already liquidated with huge profit..?

The math:
Before RI, Asiabio Capital own 421,600,000÷6×2= 140,533,333 ATS shares which entitle to free warrants of 140,533,333÷2×3= 210,799,999 AT-WC
Assume this free warrants sold of at 52w high equivalent of 210,799,999x0.17= RM35,835,999.83

If assume sold at 50%, could easily gain RM18mil..

Did Fintec make a loss investment? It is just a "guesstimate", quite true that Asiabio Capital had sold of RI free warrants of many counters. One example:
"Article B11 - Status of corporate proposals
a) On 2 December 2020, Asiabio Capital Sdn. Bhd. (“ABC”), a wholly-owned subsidiary of Fintec, has subscribed in aggregate 25.05% or 512,099,792 ICPS with 768,149,688 free detachable Warrants D of Focus Dynamics Group Berhad("the free detachable Warrants") for an aggregate sum of RM28.16 million in cash via the Rights Issue of ICPS with Warrants of Focus at an issue price of RM0.055 per ICPS. On 21 December 2020, ABC had disposed the free detachable Warrants for an aggregate sum of RM26.74 million in cash through open market.

Just sharing personal info; "NOT a buy, hold or sell" recommendation.

Happy trading and TradeAtYourOwnRisk
22/01/2022 3:13 PM

Helo @Blee, before you even post I think you should get your data right. Even your calculation of AT-WC warrant is wrong.
From what I can see. you using assumption to blind the fact and keep telling beuatiful story of FINTEC.
If you cannot get the fact right, it is best you don't post anything misleading.

I will school you here based on the thing you posted here.
1) What you mean liquidate AT-WC with huge profit and no announcement in Bursa. Please check properly in Bursa website. the selling price is only 0.0350 and I don't even know how the hell you can come out with the selling price 0.170. Please check below announcement in Bursa.
(c) On 11 June 2020, 12 June 2020, 15 June 2020, 18 June 2020, 19 June 2020, 23 June 2020, 24 June 2020 and 25 June 2020 disposed in aggregate 321,600,000 Warrants C of AT Systematization Berhad (“ATS”) for an aggregate sum of RM17,499,022.05 (“Disposal Proceeds”) in cash to the open market (hereinafter referred to as the “Disposal”).
(Collectively referred to as the “Transactions”).

2) Your calculation on no. of free AT-WC warrant allocate to FINTEC from RI of AT is totally wrong for every 4 RI subscribe free 3 warrants. I don't even know how you can come out this number 210,799,999 AT-WC.
The actual warrant allocate to FINTEC is 421,600,000 / 4 * 3 = 321,600,000

3) Initial FINTEC investment in AT is 69,888,833 which is before the AT RI. Go and dig how much FINTEC have invested in those shares. Does FINTEC still making profit now?




BLee Hi Bro @Musang King and @alan123, disposal of warrants usually not reported. I have assume the followings:

Asiabio Capital Sdn. Bhd. hold 421,600,000 ATS shares as reported in ATS AR2021

RENOUNCEABLE RI..AT SYSTEMATIZATION BERHAD (''ATS''..) RM0.035 PER RIGHTS SHARE.. FREE DETACHABLE WARRANTS IN ATS (''WARRANTS C'') ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ORDINARY SHARES..

As at date of ATS AR2021, Asiabio Capital NOT listed in the top 30 major shareholders of AT-WC indicating already liquidated with huge profit..?

The math:
Before RI, Asiabio Capital own 421,600,000÷6×2= 140,533,333 ATS shares which entitle to free warrants of 140,533,333÷2×3= 210,799,999 AT-WC
Assume this free warrants sold of at 52w high equivalent of 210,799,999x0.17= RM35,835,999.83

If assume sold at 50%, could easily gain RM18mil..

Did Fintec make a loss investment? It is just a "guesstimate", quite true that Asiabio Capital had sold of RI free warrants of many counters. One example:
"Article B11 - Status of corporate proposals
a) On 2 December 2020, Asiabio Capital Sdn. Bhd. (“ABC”), a wholly-owned subsidiary of Fintec, has subscribed in aggregate 25.05% or 512,099,792 ICPS with 768,149,688 free detachable Warrants D of Focus Dynamics Group Berhad("the free detachable Warrants") for an aggregate sum of RM28.16 million in cash via the Rights Issue of ICPS with Warrants of Focus at an issue price of RM0.055 per ICPS. On 21 December 2020, ABC had disposed the free detachable Warrants for an aggregate sum of RM26.74 million in cash through open market.

Just sharing personal info; "NOT a buy, hold or sell" recommendation.

Happy trading and TradeAtYourOwnRisk
22/01/2022 3:13 PM

@Musang King, why Fintec need to sell AT at losses to support Fintec share price? You didn't read Fintec quarterly report how much cash it have now?
Another investment buy high sell low and you agree with Fintec BOD method of doing business?
So issue more ESOS, SIS, PP at low price and keep buying high and selling low is a good investment in your mind?

Musang King Fintec acquired AT Glove at 4 sen in May 2020 but sold recently between 3-4 sen.. Lost 1 sen OK mah. But must help to buy back or spring up own Fintec shares now at 1.5 sen. Current situation strategy OK to me coz market now is so down while Fintec is now at its lowest. There are currently bidders for more than 550 millions shares daily at 1 sen and Fintec buying back its shares for 1.5 sen is reasonable as its NTA is now at 0.087 sen a share as reported at the MalaysiaStock.Biz site.

@Musang King, when a company buyback their own share, do they need to announce in Bursa website?

From 3 cents to 2 cents and now 1 cent still you call for buy. Your hope analysis seems more powerful than FA & TA.

1) you only think it can't go further down because it is already 0.010 and the lowest it can go is 0.005. from 0.010 to 0.005, do you know your losses is 50%? seems this kind of losses is ok with you.
2) if consolidation were to happen, how many stocks you see going north rather than going south?
3) Out of 5.7bllion shares, did you even check how many top 30 shareholder is holding? Is it easy to push up?
4) How many share the BOD is holding? Why so little? No confident or purely for goreng?
5) 1 year since last year for you to notice how BOD only interested to goreng share instead of doing genuine business, yet you still get blinded and think the company got good business?
6) the BOD sell KOMARK, SAUDEE & VSOLAR when the price low instead of KOMARK at 40 cents post bonus issue, SAUDEE at RM 1, VSOLAR at 4 cents. When price up don't want to sell but after don't support, then sell? BOD so panlai do business. Go and check what price FINTEC invest in all 3 companies and how much losses it book after selling all 3.
7) Keep moping FOCUS share at 50 - 60 cents plus and now 4 - 5 cents didn't continue buy. So clever the BOD. Cheap don't buy but expensive buy. Why don't sell it around 50 - 60 cents and buy back now? Is BOD supporting the price for someone to off load and after offload don't support the price and let it free fall to current price? Sitting at how much paper loss for FOCUS?
8) Keep issuing PP, SIS even the price at 1 - 1.5 cents. If the BOD really take care of the company, at current low price with high cash in hand, why still want to issue more shares to get cash? is it to the good of the company or got other agenda?
9) Go into glove business when already so many company into this business. BOD no idea what business to go to or don't care and simply come out with a business to please shareholder. Now glove already on down trend but fintec glove factory not even ready.
10) getting pasukhas and now get AEM multi to build factory. Why not get an establish company to build but get related company which don't have experience in building glove factory at all? both company is 2 - 3 cents company.
11) MOU with ROBAYU CORPORATION SP. Z O.O. for selling glove. go and google this company what business it do? is it a shell company with no business but can got contract to sell glove? sell to who?
12) Why buy SEACERA when the company is under PN17 and under multiple litigation? What so special in SEACERA that no one know but BOD so panlai think is a gem?
13) Have you check all subsidiary under FINTEC how many share holder holding > 5% aside from FINTEC itself? how many BOD holding majority share in it.

I sincerely wish you make ton of money from FINTEC using your hope analysis instead of FA and TA. Good luck to you and hope more musang king for you to eat.

Musang King Those who can buy, just buy Fintec as I believe it is the lowest now as the group is cash rich with an nta value of 6.67 sen per share. There is no reason to drop to half a sen as there will no no sellers at half a sen. The Group is not going bankrupt. Only the current market conditions and sentiments make it as such. The Group is holding so much valued added stocks with huge potentials except all the shares they are holding now are also trading at rock bottom price at current KLSE prices. When KLSE starts correcting, all Fintec holdings will also go up. Fintec Group 's NTA once reached 91.8 sen per share last year. Now it dropped to 6.67 sen is just current valuation only based on Current Auditor's Portfolio Valuation Report. Imagine, if the KLSE rebouches back to much higher position, your 1 sen now may worth 50 sen or 75 sen or RM1-00 and more a share. JUST KEEP YOUR FINTEC SHARES FROM NOW. DO NOT SELL THEM IF YOU HAVE BOUGHT THEM AT TODAY'S PRICE. YOUR ROI IS POTENTIALLY VERY HIGH.

You should tell FINTEC to protec its reputation and investors.


Elitetrader Fintec should protect its reputation and investors interest.

Why you so sour grape? Cannot accept bad news. You stuck alot in FINTEC or you still trying your best to con more newbies?

Invest123 ...then don't invest in share market.

Does it look similar?

https://www.theedgemarkets.com/article/sc-show-how-ricky-wong-siphoned-over-rm50m-bright-packaging-industry-rights-issue-privatehttps://www.theedgemarkets.com/article/sc-show-how-ricky-wong-siphoned-over-rm50m-bright-packaging-industry-rights-issue-private

SC to show how Ricky Wong siphoned over RM50m from Bright Packaging Industry via rights issue, private placement, ESOS
TheEdge Mon, Apr 05, 2021 02:24pm - 1 hour ago


KUALA LUMPUR (April 5): The Securities Commission Malaysia (SC) intends to demonstrate how Datuk Ricky Wong Shee Kai siphoned approximately RM56 million from Bright Packaging Industry Bhd (BPI) via a series of corporate exercises between 2013 and 2015, comprising a rights issue, a private placement and two rounds of an employee share option scheme (ESOS).

In his opening statement for the trial, which commenced this morning, senior lawyer Datuk Lim Chee Wee, representing the SC, told the court that the defendants Wong, his mother Teh Sew Wan and Wong SK Holdings Sdn Bhd have contravened the Capital Markets and Services Act 2007 (CMSA) in using devices, schemes or artifices to defraud BPI and/or engaging in acts, practices or courses of business which operated as a fraud upon BPI.

Both Wong and Teh are the directors of Wong SK Holdings. Wong and Wong SK Holdings were represented by lawyer Datuk Harpal Singh Grewal.

"The evidence shows that the proceeds were paid out by BPI to suppliers of BPI, who were in actual fact nominee companies controlled by the defendants.

"These monies were eventually transferred to the defendants. The monies were paid out by BPI after each BPI corporate exercise within a very short period, ranging from one day to two weeks after the completion," said Lim.

He alleged that these companies were controlled by Wong and were used as a front to propel the defendants' fraudulent conduct, which resulted in unlawful pecuniary gain of at least RM56.07 million.

The nominee companies had received monies from BPI following each corporate exercise by way of cheques authorised by Teh, based on fictitious transactions, which were eventually transferred to Wong or Wong SK Holdings.

The SC in its investigations found that the monies from each exercise were transferred from BPI via layers of these nominee companies, which ultimately ends up in either Wong's HSBC account, Alliance Bank account or Wong SK Holdings' Ambank account.

Besides using these nominee companies, Wong had allegedly provided the funding for former BPI director Datuk Seri Syed Ali Al-Habshee's subscription of the rights shares and the subsequent disposal of the shares and the transfer of proceeds to Wong.

Syed Ali, the former UMNO Cheras division chief, claimed to have had no knowledge of his subscription and disposal of the rights shares, as well as the transfer of proceeds to Wong.

Moreover, he also provided funding for five BPI employees to subscribe to two rounds of ESOS, although the five claimed they had no knowledge of their respective subscription of the shares.

Syed Ali and the five employees, namely Chew Chen Nie, Lee Woan Jiun, Chan Kok Leong, Kok Meow Imm and Teoh Hock Heng, will be appearing as witnesses in the trial, along with 14 others.

The first witness to appear in court was TA Securities deputy vice president of corporate finance Sim Hui-Leen, who went over each of the CPI corporate exercises during the examination-in-chief by Lim.

Cross-examination by the defendants' lawyers is slated for Sept 21, as the trial was adjourned amid the discharging of Teh's lawyers Nicholas Kow and Emile Ezra Hussain, as she felt that the lawyers cannot act in her best interest.

Judicial commissioner Anand Ponnudurai warned her that there will not be anymore postponements once the trial resumes in September.

"There will be no further adjournments. Please appoint new lawyers by this week. If the lawyers come into the court saying that they are not free on the dates fixed, please find other lawyers," he urged the defendant.

Why some of you keep asking question here like the BOD of Fintec is here to answer your question?
If want to ask, just call up Fintec and ask them directly. What kind of answer you want to hear from here.

And some just want to hear good thing about Fintec Come back to reality and face it Fintec price now is 0.075 / 0.080. If talking good about Fintec here can make the price fly, I think you better slap yourself and see are you dreaming or in reality.

Got time, spend your time read Fintec announcement in Bursa website better.

Penny Stock: A once-in-two-decade penny stock fever
TheEdge Tue, Jan 05, 2021 03:00pm - 4 days ago


IF 2020 is the year of rubber glove manufacturers and technology-related counters, penny stocks deserve at least a notable mention.

The penny stock fever on the local bourse has not been seen for at least 20 years since the dotcom bubble burst.

The eye-popping share price rally lured long-absent retail investors to the stock market and that, in turn, lifted the daily trading volume to a record high of 27.8 billion shares on Aug 11.

At the height of the penny stock fever in August, share prices hitting limit up were not a rare sight. On Aug 7, 12 stocks hit limit up, including HLT Global Bhd, LKL International Bhd and ES Ceramics Technology Bhd. These three were below 20 at the start of 2020.

Most of these stocks were boosted by announcements on plans to diversify into personal protection equipment (PPE), mainly disposable rubber gloves or face masks, or that a memorandum of understanding had been signed with foreign pharmaceutical companies for the exclusive right to distribute a Covid-19 vaccine, although the government has yet to decide whether the private sector would be involved.

Some describe the Covid-19 pandemic as a blessing in disguise as retail investors had extra money in their pockets to invest as a result of the six-month loan moratorium granted by the banks, while the unprecedented global demand for PPE gave rise to wild expectations on the earnings potential of an investment in producing rubber gloves or raw materials such as nitrile.

Fintec Global Bhd’s elevated quarterly profits may help explain the market euphoria. The company, which owns stakes in several listed entities, reported a 905% year-on-year surge in net profit for the second quarter of its financial year ended Sept 30 (2QFY2021) to RM720.5 million, from RM71.7 million in the previous corresponding quarter.



Almost all of its business segments — green technology, oil and gas (O&G) and trading — posted pre-tax losses during the quarter, with the exception of its portfolio investment division.

Fintec recorded a “fair value gain on investment securities” of RM714.2 million — nearly 10 times the RM73.6 million it recorded a year earlier in 2QFY2020. On its balance sheet as at Sept 30, 2020, it had RM1.23 billion in investment securities, almost four times the RM358.1 million recorded six months earlier on March 31.

Fintec did not reveal the details of the investment portfolio as it is not required under Bursa Malaysia’s listing rules. However, based on the disclosure of companies’ shareholdings through its wholly-owned subsidiary Asiabio Capital Sdn Bhd, Fintec holds shares in Saudee Group Bhd, VSolar Group Bhd, Komarkcorp Bhd, Focus Dynamics Group Bhd, Seacera Group Bhd and AT Systematization Bhd — all penny stocks. In a nutshell, the large gains were due to the surge in the market values of its investments.

When sentiment was especially buoyant, even the share prices of bus operators Gets Global Bhd and Konsortium Transnasional Bhd — both of which have been loss-making for years — could more than double in a single day, with the daily trading volume exceeding their issued share capital. This means a portion of the companies’ shares changed hands more than once on a single trading day.

Gets Global is an outperformer among the penny stocks in terms of share price performance. The stock exchange queried the company on unusual market activity three times between August and November due to the steep climb in its share price, but this did not stop its spectacular rise. It may seem unbelievable that Gets Global’s share price skyrocketed from 10 sen to RM3.97 in less than four months.



The counter’s rally gained strength when it announced a rubber glove manufacturing venture. On top of that, two new substantial shareholders — ADA Capital Investments Ltd and Teong Lian Aik — emerged in the company after a share placement. ADA Capital is owned by Teong’s brother-in-law, Low Bok Tek.

AT Systematization, which has also ventured into the rubber glove manufacturing business, also stands out among the penny stocks. It is likely the most traded stock of 2020. Daily trading volume soared to 2.66 billion shares on Nov 10, accounting for 23% of the total volume of shares traded on Bursa Malaysia that day.

In the second week of November, AT Systematization’s weekly trading volume swelled to 10.85 billion shares, which was equivalent to slightly more than 16% of the total weekly volume on the stock exchange. This was the first time that many investors had witnessed such a large trading volume on a single stock.

Wow FINTEC so famous. The Edge cover FINTEC.

Turkey Of The Year: The rally in penny stocks and their subsequent plunge
TheEdge Tue, Jan 05, 2021 03:30pm - 4 days ago


IN September this year, The Edge ran a piece titled “Hidden hands behind penny stock surge”, which showed the relationship between 21 companies, all connected via similar shareholders and/or directors and all exhibiting unusual peaks and troughs, jolting share prices for no apparent reason.

Behind these companies is an individual or a small group of individuals controlling things and making a mockery of corporate governance standards.

Interestingly enough, it is understood that there are about 40 companies controlled by the hidden hands.

At the apex of the maze of companies is Fintec Global Bhd, a company that does not have a core business except to act as an incubator. On Fintec’s website, it says, “The name ‘Fintec’ mirrors our motto of ‘financials before technology’, that is, we first and foremost look to the existing and/or potential financial performances of the companies in need of capital injections before all other merits such as technology, business nature and business plan are considered.”

According to its annual report, it has investments in start-ups but it is worth noting that Fintec also invests in several small-cap, publicly traded companies.

Companies under Fintec’s belt include Saudee Group Bhd (21.55%), AT Systematization Bhd (28.29%) and Focus Dynamics Group Bhd (25.04%). There are also companies such as Green Ocean Corp Bhd and Trive Property Group Bhd, in which Fintec has indirect stakes via Saudee Group and AT Systematization. It is also noteworthy that at end-November, Fintec ceased to be a substantial shareholder of NetX Holdings Bhd.

Some of these companies, such as Fintec and AT Systematization, were in the news for announcing new ventures, including into glove making. It remains to be seen whether they are successful in these ventures.

Nevertheless, Fintec’s “jewel in the crown” is Focus Dynamics, which operates seven food and beverage outlets. It mustered a net profit of RM7.26 million from RM42.88 million in revenue for the nine months ended September this year. Despite having accumulated losses of RM40.26 million, Focus Dynamics at the time of writing was trading at 65 sen, giving the company a market capitalisation of almost RM4 billion, and was listed on the MSCI global small-cap indices last month.

Whether such a high market value is justified for a company that raked in RM7 million in net profits is questionable. So far this year, Focus Dynamics’ share price has shot up more than 390% from 13 sen as at end-2019, with no apparent reason for the meteoric rise.

Just prior to this article, Fintec pocketed RM26.74 million in cash, selling 768.15 million of Focus Dynamic’s warrants on the open market.

This year alone, Fintec has completed two share placements and one rights issue with free warrants, raising RM182.6 million. Note that as a reprieve to companies hit by the pandemic, Bursa Malaysia relaxed the rules on private placements, allowing listed companies to place out not more than 20% of the total issued shares, from the existing 10%, until Dec 31, 2021 — subject to shareholders’ approval.

Most of the companies in which Fintec invests are loss-making and small in terms of market capitalisation, and seem to lack a clear business direction or strategy.

Other stocks (besides Focus Dynamics) that have shown simi­lar gains but plummeted include loss-making Anzo Holdings Bhd, a company dealing in timber products that gained more than 1,000% from mid-May to hit a high of 26 sen in July. It closed at 8.5 sen on Dec 23, losing 67% from the peak.

PDZ Holdings Bhd, an ailing shipping company, was trading at one sen in mid-March but, at end-June, it gained more than 500% to reach its peak of 32.5 sen this year — a remarkable feat, considering it is mired in lawsuits and has no significant shipping assets. Closing at 7.5 sen on Dec 23, it is down 77% from the peak.

Meanwhile, loss-making XOX Bhd, which is involved in cellular telecommunication services, gained more than 430% from mid-July to hit a high of 39.5 sen at end-August. In mid-March, XOX was trading at one sen.

Anzo, PDZ and XOX are linked to Fintec via its directors. All three companies have announced corporate exercises, including placements of shares and rights issues.

Meanwhile, Saudee Group’s stock hit a low of eight sen on March 17, but picked up momentum in June to hit a 52-week high of 67 sen on Aug 13, gaining more than 300%. It closed at 50 sen on Dec 23 — down 25% from the peak.

While there is reason to believe that the regulators are indeed looking into the companies and their erratic share price movements, and that the authorities have actually commenced investigations, it is unclear whether there will be any follow-up action aside from an unusual market activity (UMA) query by the exchange.

Also worth noting is that investigation

Underwrite the RI for 15M cash but not able to get 333,333 RI shares which cost around RM 26,666,66 cash only. Mean Tan Sik Eek still have balance RM 14,973,333,36 cash to buy FINTEC share at now cheaper price 0.075 than 0.08 RI.
Why don't buy? No faith in FINTEC? FINTEC too expensive?
Why Reap88 why?

Reap88 harvest 123, the problem of directors credibility exist in many KLSE companies. There are just too many listed companies with not enough management skills and expertise. At the end of the day many who are not so savvy will be sure to lose their hard earn money. Unless Bursa makes it mandatory that to be appointment as ED must hold a minimum percentage of the NSOH. Otherwise decision made by the BOD may not be in the best interest of shareholders. By the time the financial results are out showing substantial losses or enter PN17 there is nothing much the ordinary shareholders can do except suffer in silence and sell their shares.at a substantial loss

is FINTEC share based bigger than TopGlove 8B, Harta 3B? Even KOSSAN & SUPERMAX with 2B share base also can go up.
Last Friday Glove stock rally these 2 stocks can go up but FINTEC with only 2.8B cannot even move? What logic you trying to imply?


Reap88 The problem with Fintec is NSOH is 2.8B which is rather large. Once price increase sure to attract those weak holders who will take quick profit and those trap at higher prices who will sell to cut loss to get out.

Why you ask this kind of funny question? Read some announcement and skip some announcement?
In bursa announcement it mention Not offered to director. Or you telling us Tan Sik Eek not director of FINTEC?

Pursuant to Rule 9.19(51) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, FINTEC wishes to announce that it has offered options to eligible employees under its SIS, the details of which are as follows:-



(a) Date of offer : 30 December 2020
(b) Exercise price of options offered : RM0.08
(c) Number of options offered : 270,000,200
(d) Market price of FINTEC’s shares on the date of the offer : RM0.08 each
(e) Number of options offered to Directors of FINTEC : Nil
(f) Vesting period of options offered : Not applicable



This announcement is dated 30 December 2020.

Fintec Just listed ESOS who bought at 8 sen? Tan Sik Eek cannot?

Tan Sik Eek underwrite the RI for 15,000,000 But only manage to subscribe his portion of 333,333 shares. Why he didn't use the money to buy cheaper from open market if FINTEC is good?
why he

I already mention I hope the existing shareholder to vote against the RI if propose during the EGM.
You can buy and sell as you like.
You make profit and loss also not my concern as it is your money.
But for the RI, I don't see much benefit to us shareholder compare to Director subscribing to the excess at 0.08 + free warrant without needing to hold any shares.
Once Director subscribe and sell down it, what happen to the share price after that.

I know the reason based on my own observation.
You go and figure out yourself. This is purely my own analysis and I don't want to open for you to debate.
If you read the Company Announcement properly and the quarterly and Annual result of both company, you would roughly be able to figure out what I see in FOCUS & FINTEC.

I am totally not in favour for FINTEC RI to proceed.
You want to ask money from shareholder, you as Director should show faith and buy into FINTEC shares and support it and not wait for excess right application for the RI and sell for quick profit.

pineapple123 Mr Tan Sek Eik, I believed you have your macai reading thru our comments and psychologically analysing all of us who by holding or not holding your FINTEC stocks.

I'd been holding your company for some years and for the past 5 years or more, from ASIABIO you changed name to Fintec, all with the reason to rebrand your company.

Please remember most of your holding companies are not making money. Netx, Mlab, Vsolar, AT, etc and you acquired a Pn17 Seacera.

I believed you also good at TECHNICAL ANALYSIS and often sidetrack shareholders with your strategy.

My cards are open for you here. I also read about your near involvement in PATIMAS. But because u were new as the MD to Patimas, you and your other fellow director escaped the fiasco.

As for now I still think u genuinely SINCERE. But your RI is a disappointment. To folk out the 8c RI to 10c RI, I can do it. But I am beginning to feel your insincerity as a Director.

Got profit not materialise. Keep pattern pattern with ICPS, PA WA and now Ri.

Therefore, the coming EGM , HIGH CHANCE I WILL NOT VOTE AND MAKE SURE YOU EAT ALL THE RI



This not worship then what. A tiger is always a tiger. You remove the tiger stripe doesn't make it not a tiger.

pineapple123 A 2mil plus Focus profit can get Focus at premium 2.36 share price. NTA 0.02

A 155mil Fintec share profit can only get Fintec at 0.14c shareprice. NTA 0.55

Logic or not Mr Tan Sek Eik?


You don't even know why FOCUS price can keep go up with low NTA and FINTEC not selling any FOCUS even the price is high?
Why FINTEC price so low but NTA high?
Then you should wait Director machai come out and explain to you while you can buy more FINTEC to support the price.

Mr pineapple, when I mention take a look the Annual report top 30 shareholders.
You know what I want you to see?
Look at the 30 biggest shareholders holding.
Does it match with the amount of shares each PP and SIS exercise?
Do you think those who subscribe still holding or already sold all the discount shares with profit based on market price?
30 biggest shareholders only holding 18% of the total FINTEC shares. the balance 82% who hold and the largest shareholder outside of 30 top shareholder is less than 4M shares.

What kind of so good company no big shareholder want to hold? Making big profit wor.
Where is the director name? Oh yeah director only holding 333,333 shares only.
Director why hold so little. No confident this is a hidden gem company?

Analysis of Shareholdings
As at 3 August 2020
cont’d
LIST OF TOP 30 SHAREHOLDERS
Name
No. of
shares held
Percentage
(%)
1 M & A Nominee (Tempatan) Sdn. Bhd.
Exempt An for Sanston Financial Group Limited (Account Client)
30,854,600 2.303
2 M & A Securities Sdn. Bhd.
Exempt An CLR for Sanston Financial Group Limited (Tempatan)
18,440,300 1.376
3 TA Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Ong Eng Taik
14,270,000 1.065
4 UOBM Nominees (Tempatan) Sdn. Bhd.
Exempt An for Sanston Financial Group Limited
12,500,000 0.933
5 Tan Seng Chee 12,000,000 0.895
6 UOB Kay Hian Nominees (Asing) Sdn. Bhd.
Exempt An for UOB Kay Hian Pte Ltd ( A/C Clients )
11,801,000 0.880
7 HLIB Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Ong Kim Leng
10,586,800 0.790
8 Malacca Equity Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Piong Yon Wee
10,200,000 0.761
9 Bu Yaw Seng 9,000,000 0.671
10 HLIB Nominees (Tempatan) Sdn. Bhd.
Hong Leong Bank Bhd for Ho Ah Chai
6,600,000 0.492
11 Eng Hong Palm Oil Mill Sdn. Berhad 6,500,000 0.485
12 Teh Bee Khay 6,500,000 0.485
13 Low Min Hing 6,400,000 0.477
14 CGS-CIMB Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Tay Hock Soon (MY1055)
6,200,000
0.462
15 Low Meng Kee 6,000,000 0.447
16 TA Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Ang Joo Meng
6,000,000 0.447
17 Krishna Moorthy A/L Nookannah 5,700,000 0.425
18. Lee Ming Ha 5,550,000 0.414
19 Chong Mee Fah @ Frederick Chong 5,500,000 0.410
20 Kenanga Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Chin Kian Fong
5,400,000 0.403
21 Ong Kim Leng 5,329,600 0.397
22 CIMSEC Nominees (Tempatan) Sdn. Bhd.
CIMB for Chow Chong Chek (PB)
5,166,900 0.385
23 CGS-CIMB Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Lee Chong Choon (MP0059)
5,000,000 0.373
24 CGS-CIMB Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Loong Ding Tong (MY3120)
5,000,000 0.373
25 Tan Guat Kee 5,000,000 0.373
26 RHB Capital Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Soo Siew Seng (CEB)
4,800,000 0.358
27 Kenanga Investment Bank Berhad
IVT (EDSP-KCA)
4,500,000 0.335
28 Chin Kiam Hsung 4,200,000 0.313
29 Public Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Poh Seng Kian (TJJ/KEN)
4,000,000 0.298
30 Teoh Kook Seng 4,000,000 0.298
TOTAL 242,999,200 18.124

halo pineapple123, when did I say i can move the price?
I didnt know you look so high at me.
You make profit or loss is not my issue.
You dont share your profit with me neither I share you losses.

I just want to wake you up what the Director is doing.
Only you still worship the Director and talking about macai here and there.
You don't need to guess this and that what I am saying.

Just open your big eyes and read bursa announcement and see how the Director profit from SIS, PP and RI while the so long shareholder like you still holding the shares.
Don't forget FINTEC got share consolidation 1 for 3 in 2017.
Did you incurred losses during this exercise. Only you know.

Let the Director issue more shares at high discount and then do another round of share consolidation and see you happy or not with all the dilution and share price.

If you holding share, please vote against RI during the EGM.

You think I can push down the price up or down? Did you check the top 30 shareholder before you comment? The Annual report just release recently. Go and check yourself.
I am not here to hint the price will go up or down.

See where the company direction heading and understand what the director is doing.
It is whether you want to accept the fact or live in delusion.
You want to buy or sell, is your choice. You think cheap then buy.

If you holding FINTEC like me during EGM, I hope you can vote against the RI during EGM.
I don't see the benefit to the existing shareholder but to those who will take up the excess.
If share price drop to below 0.08 and the RI still price 0.08, I will vote for this proposal.
Let the director take up all the excess of the RI at 0.08 for total RM15M cash. See they will revise the RI price or not.

Let's see how the share price perform and who actually profit from it and who actually loss money in it.

Check the Annual Report does all this big subscriber still appear in the Top 30 shareholding.
The current top 30 shareholding is less than 20%.
Why all no confident to hold this FINTEC with high NTA 0.55 but dump and then subscribe cheap SIS,PP or RI and dump again for profit.
When share based too big and price still low, then propose another share consolidation.
Who will be in disadvantage when their shareholding keep diluting with all these corporate exercise?

Some of the Private Placement I copy from Bursa.

On behalf of the Board, Mercury Securities wishes to announce that the Board has on to-date (“Price-fixing Date”) fixed the issue price for the placement of 182,144,000 Placement Shares, being the last tranche of the Placement Shares, at RM0.0711 per Placement Share (“Issue Price”).



The Issue Price represents a discount of 10.00% to the 5-day VWAP of the Shares up to and including 8 July 2020 of RM0.0790, being the last market day immediately preceding the Price-fixing Date.



This announcement is dated 9 July 2020.




On behalf of the Board, Mercury Securities wishes to announce that the Board has on to-date (“Price-fixing Date”) fixed the issue price for the placement of 100,000,000 Placement Shares, being the first tranche of the Placement Shares, at RM0.0535 per Placement Share (“Issue Price”).



The Issue Price represents a discount of 9.93% to the 5-day VWAP of the Shares up to and including 30 June 2020 of RM0.0594, being the last market day immediately preceding the Price-fixing Date.



This announcement is dated 1 July 2020.




On behalf of the Board, Mercury Securities wishes to announce that the Board has on to-date (“Price-fixing Date”) fixed the issue price for the placement of 82,110,000 Placement Shares, being the first and last tranche of the Placement Shares, at RM0.0361 per Placement Share (“Issue Price”).



The Issue Price represents a discount of 9.98% to the 5-day VWAP of Fintec Shares up to and including 27 April 2020 of RM0.0401, being the last market day immediately preceding the Price-fixing Date.



This announcement is dated 28 April 2020.

Are you a punter, trader or investor?
This counter is a con company is based on your own judgement on how the company is run now.
By asking question here and to decide buy and sell, more like a Genting gambler.
Money can be make and loss in this counter if youknow what you doing.

1) Why FINTEC never sell those incubator that in paper profit? Using the unrealised marketable share price to boost NTA? So many in paper profit KOMARK, SAUDEE, FOCUS, AT. why keep holding and subscribe to the RI of incubator? When FINTEC start to invest in those incubator, you think they bought at current price? MLAB, DGBASIA how much money they burn? Go and check those company.

2) How many times FINTEC has issued SIS and PP below market price during this 1 year? Go and check the company announcement and Annual report and see those who subscribe to SIS and PP still holding the shares?.Check the top 30 investors how many percent they hold? Between the price they subscribe SIS and PP against the market price, how much they can earn by just subscribe and sell at market price? So you still asking why price cannot move up?
3) Why the director only buy 100K shares and not buy more? Instead wait to subscribe excess right which wont get if all full subscription? He no confident in current market price and expect not many to subscribe the RI?

4) Who will benefit if the RI is price at 0.08. Why price so low? Why use the price near the lowest to price and not current price and give so much discount? If director fully subscribe and sell all, you see how much he can earn from the RI + free warrant while the existing shareholder keep holding their share thinking why NTA so high but share price never go up. If those didnt subscribe will be worse, didnt average down purchase price and hold at high.

5) Why still proposal stage for RI? Still need EGM for approval.

6) Is the director really running the company properly? Run out of idea to ask shareholder? Propose to do glove only now? 1 of the incubator AT is doing glove also. Why not buy more AT share and ownself go and do glove? No experience and want to compete against existing big 4 and 2nd liner glove? Is it like throwing shareholder money into longkang and then ask for more money?

7) Just look at those incubator FINTEC invest in. Is it all really good company? For the pass 5 years what is their revenue, how many MOU announce and realise, how many Right Issue announcement, how many got court case? Why invest in this company? What so special? Buy and never sell even in paper profit but keep asking for more cash from shareholder.

Really a shit counter.
Avoid.

ASIABIO should sell NETX like selling T7GLOBAL and CARIMIN.
Both stock price now higher than what ASIABIO sold.

@powerrangerhuat continue to hold and wait.
ya I am loser because I didnt hold netx and wait until cow come back hahaha.
you can win here and say holding and make a lot of money.
i am counting money how much i make from other stock.
really pity see an ego person stuck here and console own self how much money he make holding a loss money stock. pity pity.

@powerrangerhuat huat ah huat ah.
alamak sakit perut and lausai. hahaha.
huat ah huat ah. lausai again.

Where is those promoter?
Run road liao.
In front ask you hold, behind keep selling.
Now all get con.
Who promote Fundamental konon.
Now hangus big time.

Small money to loss only.
So cheap netx.
Take it as donation la.

Invest future ha? Give you free tutorial la.
Go and check netx latest result.
How much cash in hand and how much receivables.
If want to invest no money then cash call.
Receivables can be write off if unable to collect.
If cash call, what is the par value and accumulated loss for netx?
Attractive or not to ask shareholder pump money?
Not attractive ar, then share consolidation make it more attractive lo.
Example 5 consolidate to 1 die lo 5 shares become 1 la.
Somemore ask me pump money how ar?
Juicy juicy

@mandee 1st time play share?
Please check the 30 largest share holder holding how many dnex and netx share.
Dnex is a good company now.
Netx is a empty shell company good for goreng.
Go ahead and buy more netx.

@Edric Soh if you say invest in future, then be it.

@mandee, please wake up.
Why alibaba want to invest in netx.
Why dont they invest in efficient since they stake.
Wake up wake up la.
Dont dream anymore.

@john, i dont know where new come from.
I heard it during dreaming.
Alibaba coming.
Seeing is beliving.

@cruz you comparing Dnex with Netx.
Are you kidding me.

@Edric Soh, i thought you all want to hear good news only?
So long say good thing about netx you all happy mah.
So buy more and support the price.
Dont think so much.
Monday continue buy.

Monday open gap up and then limit up straight.
Big project coming.
Alibaba will invest 1b into netx.

Dont believe negative comment.
They dont know how to pkay share.
Netx sure up. Got alibaba alimama aliabu.
Project come in big big.
Tencent alibaba will buy big stake into netx.
Just buy. Dont stop buy. Support the price.

Today up 0.005. Why so worry.
The expert here say will go up mean will go up.
Those negative analyze research just ignore.
Trust the expert here.
Sure up must up one.

ATARAH, you read correctly.
If you invest in company, do you buy the mother share or do you buy the warrant to invest?
Look to ASIABIO investing way is very unique.
No wonder every quarter showing loss instead of profit.

Did you know ASIABIO sell CARIMIN in loss?
Did you know ASIABIO did not sell a single VSOLAR when the share hit 30-40 cents?

I don't know how ASIABIO invest in share.
Maybe ATARAH know.

Maybe this quarter NETX showing profit. Who know?
But if result show loss, I can see a lot of cursing here.

Anyway good luck to all super investor here who will make big buck soon.

No result showing profit.
Only new tied up with Payallz and all jump in.
When the result come out another money loss, good luck to all god of gambler.

Do you all know PDTS?
They can short sell share and pay only clearing fee when trade. They dont need to pay brokage.
You all play like sheep ready to be lamb chop.

Better invest in money games then burn your hard earn money here.