sigh.. now can only hope for good news, if bad might as well cut losses...

im quite surprised that they have not released any statements if they have paid the remaining deposit for the purchase. With the counter being sold off with volume, does not bode well. Bursa should fine the directors for this if they they have sold based on inside information

any idea if they Pworth paid the balance of the deposit? deadline was yesterday... judging by the stable price, i assume that they did...

new low... 24 cents

no news on his twitter account

@Ardency86... yup, find it amusing...

we need to remember that HIB has alot of shares in the market compared to the rest, that being said it also does not have any debt compared to the rest of the companies in its industry, hence i would consider it very safe(not likely to cap lap)

hmm.. does not look good if RH has disposed of 10% of his holdings and not much news coming from the company itself. Question is who is moping up the shares?

do not trade on this counter, fine if you are investing long term

if i am not mistaken, last quarter they did not sell any oil, hence coming QR would be a bumper for them...

stop posting old news, if you have something new to share thats fine...

need to stay calm guys, as for Sabah, the investigation is an industry wide issue, hence everyone is affected and not only Pworth. While the earlier article states that from the 40k logs held for investigation, 8.8k belongs to Pworth and the reason stated was due to tax not being paid. I think earlier one of the directors came out in the papers stating that they have paid all the taxes for their logs and said they have a bond with the forestry dept. If found tax not paid, just pay a fine and pay the tax la... as for outlook going forward, the company which Pworth purchased that holds the PMU 5 contract, if there are any changes to the logging rights, am sure there will be changes to this contract to reflect that or they can sue the Sabah gov for loss of income.

One of the main problems with PriceWorth is that they had factories that was running at 30% capacity as they did not have a steady source of logs to process due to illegal logging. I see this whole issues as a good thing, stem out illegal logging and the downstream players will benefit... i am one that subscribed to the rights issue and am looking at this on a long term basis.

keep the faith, just collected more...

0.07 is already the diluted price. There will be some weakness initially but if no issues with their licenses, a good one to keep.

need to understand that Pworth did not obtain nor was a beneficiary of any major logging licences, they purchased it from another company in Q4 last year. In fact, the factories were under utilized for years due to lot being able to secure enough logs and was barely breaking even

https://www.theedgemarkets.com/article/pasdec-shareholders-told-reject-takeover-offer

Guess the same would apply for TA

there are alot of companies with FMU is sabah, TSH is also one of them if i remember correctly. Priceworth did not receive an FMU but instead bought it from another company

@Travestor.. some of them are new to this, so lets just help to explain if we have the time. At least there are not like some people who gambles and expecting prices to increase everyday... that one i really cannot tahan

so far 10% of shares has exchanged hands.. that's quite high... i assume those who are selling today are not subscribing to the OR issue...

haha.. this is a joke. good thing they only own 33% of the shares, so can out in the bin

Q3 results are out... read it. I believe the ban would be good for PW, as it has invested in downstream activities and i think the contract with China is floor boards and not logs

KOTA KINABALU: Sabah will stop the export of its logs overseas so that local industries get priority to timber.

Chief Minister Datuk Seri Mohd Shafie Apdal said he would direct for the ban to be implemented immediately after instructing the Forestry Department.

“This ban will be on until further notice,” he said after a briefing at Yayasan Sabah here yesterday.

This move, he said, was to ensure logging activities benefited Saba­hans first.

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=all,Int_Business_Finance,Demo_Age_45to54_enr,Int_Automotive,Demo_Age_25to34_enr,Int_Property_Affluent,Demo_Gender_Male_enr,Demo_Age_18to24_enr,Demo_Gender_Female_enr,Int_Property,Demo_Age_55to64_enr,Demo_AffluentAudience,Int_Automotive_Affluent


Annually, the state exports between 200,000 and 300,000 tonnes of logs to countries such as China, Japan, the Philippines and India.

Shafie said the meeting at Yayasan Sabah was to brief the officials on the new state government’s policies and direction.

Being an entity, which had helped Sabahans in terms of employment, education and business opportunities, Yayasan Sabah, said Shafie, would continue to play a huge role in the state’s socio-economic development.

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However, he said, he was not satisfied with its current condition.

“Our direction now is to focus on strengthening existing programmes so that these may benefit Sabah to the fullest,” he said.

Shafie said ventures in grey areas or those with uncertain financial viability would cease.

The state government, he added, would also focus on providing sustainable assistance such as scholarships and job opportunities and not handouts to staff and its partners.

On claims by some Barisan Nasional leaders that “someone” had tried to sell Yayasan Sabah in the past, Shafie declined comment.

“However, I will be investigating where the plots of land allegedly meant to be sold are and who manages these,” he said


Read more at https://www.thestar.com.my/news/nation/2018/05/24/logging-to-benefit-sabah-first-shafie-overseas-export-to-cease-to-maximise-state-profits/#2Xk4u2JkMj7HrPdh.99

i stand to be corrected, just looked at their reports, the fixed deposits have been used as collateral for the bonds and a loan they took... so cash flow wise, they are not looking good

there is no logic in this private placement, they got 147 mill in fixed deposit, why not use that for working capital instead of diluting the shares of the company when the share price is so low... something is not right with this picture...

@burdoc , dont think its fair to share this here as its personal in nature, TP is relative for each individual and it depends on ones appetite for risk, lets just say i can go to zzzz for now and wake up in 2-3 years time

overall its a positive outcome for Hibiscus, if you are not trading and holding for long term then just consider it as a FD. I held the stock from rm 1.9 and averaged down when it was 0.2-0.3 cents, overall in the "green" but as i have mentioned, i am in this for the long haul. I do have a target price that i will sell if it ever reaches there but till then... zzzzzz...

its painful to see when its gone down by 44% in a month...

@PN17Player, am amazed at your analysis! mana pergi sekolah?

if they manage to list the concession in SGX, it will be worth a lot more than 40 cents :)

no one is going to sell to them when NTA is 1.40, company hardly has any debts...

buying this counter is like going to genting. pls be careful

@Jeffreyteck, well at least someone ask the question and they will have to answer this in a public domain

must take a breather la... everyday go up meh?

with reference to the court case against Rex, its funny that both parties are painting a favourable picture to the judgement.

@Jefferyteck, what was their answer to your questions?

whatever increase in oil prices will be offset by an increase in shale production, hence it will go no where. Hence i think cheap oil prices are here to stay unfortunately... sigh.. if you are investing in this counter, "invest" and not for monitoring oil prices every day...

how many more koyak?

no need to limit up, close at 0.60 cents i am already happy... this is not a stock to contra etc, buy for long term...

i find this news positive with the approval from Petronas subject to certain conditions being met by Shell. Until we know what these conditions are, very difficult to comment further.

aiya... election coming ma... all these guys have to give "donation", same as every other country...

Taan only has 444 million shares, Pworth with RH private placement has about 980 million shares, does not include the rights shares they will issue, total shares will be about 3.5 billion...

sweet.. congrats to all shareholders

i'll be subscribing to their rights issue if they get the sabah land. it's will definitely solve their production(40% utilization only) issue of not having enough raw materials and with RH onboard, im taking a long term stand on this stock

I wonder what happened to their negotiations with Rex? if any of you going for their next agm, ask them what happened to the lawsuits...

maybe they probably set the price for the rights issue and perhaps implementation dates... but its anyone's guess

issue ESOS up to 10% of shares at 0.16 cents... shares will certainly be on a downward trend

from 14 cents to over 50 cents, haven't gone up enough meh?

rights issue at 20 cents? and you still buying?

ouch.. hope you guys are not caught...

LOL...