David Chan, based on your link the outstanding bond already been sorted out.. 22mil from singking fund, another 35mil from MIDF Amanah bridging loan.
last time share consolidation of scomi.. midf guy was appointed

so it will be a good news on next monday

scomi and scomies is a separate legal entity

i attend the agm, what i could comprehend, there is positive feedback from bank and then it should be positive from sc...they were sorting a few queries from sc, then it should be ok.. from the mouth of ceo

Scomies was not scomi..
Scomies is charging 7% interest for the advance to scomi.
There is positive feedback regarding bridging loan..
SC also will treat scomies differently as scomies has sound business. Once CR is done.. shareholder equity deficit will be no issue.
If scomi sell its share of scomies to new investor then it will more +ve prospect

Wait for good news.. then it is already too late

At agm, ceo feedback is positive about waiver from sc and bridging loan from bank

Does not affect much vote for or againts.. already approved 96%

Positive feedback from agm regarding waiver and bridging loan , dont wori

buy now.. and just wait for rebound

They are not selling fixed asset.. they are selling their inventories and services

I think it would be no problemo for scomies to secure the bridging loan..
When announcement of the loan was made it will give a positive push.. if u dont buy now, by then it is already too late..

or on consolidated basis as a GROUP with SGB..
maybe somebody can clarify

simon , i think that will relate with proposed Capital Reduction ( when they will reduce shareholder equity to set off with retained loss). not on current financial status

after announcement
scomi counter was halt at the early trade session. when open the effect is only down 0.005
scomies counter was not halted by bursa... because the announcement was not directly related to scomies.. when open the effect is down 0.02 , more severe

when people realize and wake up from panic.. the price will rebound

better buy scomies rather than this trouble mothership
scomies and scomi about at same price now

indeed this is the last sale
for those who not take this opportunity will regret later on
because the threat of pn17 is not because of scomies bad financial position.. scomies is fundamentally strong as before

please understand of what is pn17 triggered by para 2.1 (e)
this is not about default of payment, not about going to be bankrupt

i post it here of what it is

(e) ​the auditors have expressed an emphasis of matter on the listed issuer's ability to continue as a going concern in the listed issuer's latest audited financial statements and the shareholders' equity of the listed issuer on a consolidated basis is 50% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer; or FAQ 8.18, FAQ 8.20

it just a matter of auditor opinion with regard to unclear direction of the company


http://customer.bursamalaysia.com:8080/MainLR/Pages/MainPracticeNote17.aspx

problem mother share price is at 0.07
potential like scomies also at same price 0.07?
kemon..
now i recommend buy call.. not like calvin buy call recommend like hell at 0.12

kemon mukhriz... 0.085 letgo.. .07 x mau ka

last time some one call me joker just because my view go againts calvin recommendation... it is funny now

price move up or down not solely depend on Calvin recommendation.. dont be so naive
i myself has some at .009 .. suppose to let go yesterday but cancel at last minute.. had some q at .085.. unlucky i m not aware of the announcement.. and end up with historical price at .085 and 0.09..
bought some at 0.07 this morning.. hope could do some averaging

management recent effort to do CR and CS is a sign that they want to make scomies prospect look good and attractive for potential investor... new investor coming in will give good potential for scomies..

harga murah sapu.. beli masa org takut.. jual masa org excited

what i understand from what is going on

1. auditor has issued a modified opinion with regard to going concern of the "GROUP". scomies is part of the GROUP. as we all know SCOMI GROUP (SGB) is having financial problem regarding bond settlement due on 14 December 2019. Since SGB own more than 50% of SCOMIES share, & the sahre was held as collateral. this will directly affect Scomies going concern status. it could be scomies will be taken over by creditor or SGB will find a JV partner to liquidate some its share in scomies, could Petronas or whatever. or SGB could negotiate for a new financing with bank.

2. the auditor had opinion that financial statement of SCOMIES give a "true & Fair" view (unqualified = tanpa syarat).

3. Scomies financial status is OK, SGB is the one not so OK.

4. let say scomies was taken over by PETRONAS, PNB or otherss.. that will be very good for scomies share price


Dont panic

please attend the agm on 28 Nov and reject the proposal to amend constitution

The bottom has formed... those who want to collect... let collect its now
rsi reading show below 20

then wait for a new rally before CS

So uols only want to hear good comment to yr ear ?..
Like buy call at 0.12 and price end up 8 cent next week? Uols just mislead those inexperienced trader

Nevermind..
Ta or fa
By tuesday price will close lower..

11mil volume.. but the price not moving.. by next tuesday it will down further

After an active spike up.. there will be correction down.
hype at 0.12 can go down to 0.085
hype at 0.95 can go down to?
it is still downtrend.. no point to go againts the tide
still many not comfortable with CR and CS

Unless...
The CR is only accounting adjustment

dont use usename "scomies" lah, u r misleading.. creating new profile just for the sake of insulting?
if u asking for clarification and my insight please ask politely.. have adab
they will chop their capital for $560Mil
thats meant 50% or current capital

anyone want to share their calculation?

your cost 100k x 0.12 = $12,000

reference price at entitlement date let say = 0.08

your value will be 100x 0.08= 8,000

at this point yr loss is 12000-8000=4000 (33%)


post CR & CS
CR yr unit holding will reduce to 50% = 50000 x 0.08=4000
CS 5:1 yr unit holding will be 10,000 x 0.4=4000


your lost 12000 - 4000 = 8000 (66%)

i m sharing my experience of fear.. when scomies management propose for CR, CS and merger last time.. thank God, we minority shareholder able to block the proposal.. when reference price they use is lower than your cost.. instantly u will facing huge loss..
imagine if your cost is 0.12 and they use the reference price of 0.08?
they will issue proper announcement later, only then u will know at what price they will use as reference price.. normally the market price of " that specific date"

do not focus only on SHARE CONSOLIDATION to mislead others

the scenario is CAPITAL REDUCTION and SHARE CONSOLIDATION

hmmm
i talk about CR and CS
these people calling me joker, then Calvin please show your calculation of scenario CAPITAL REDUCTION and CAPITAL CONSOLIDATION..
I failed my primary school math? by saying that will upgrade u to phd holder?
u dont have to resort to name calling and being personal lah.. be professional
we dont communicate through maki hamun and hina org.. it just showing what kind of person u are
we communicate through fact, figure, calculation, analysis here..
then present your calculation..
by the way i m not going to call u joker ;)

anyone who want their capital reduce to 50% can buy tomorrow at .08
after complete CR and CS, the price will be 40cent
and u need to wait the price to climb to 80 cent for u only to break even.
worst it will go lower (bear in mind that u already loss 50%).
that is only if the reference price is .08.. if on friday the price go to .06?
figure out yourself lah.. do yr own calculation , dont simply accept what other said at face value.. make yr own research
haiyooo
i would rather buy after they complete the CR and CS
as show of solidarity, i am still holding 1k unit
so i could vote in the coming egm

Mukhriz.. lower than 85cent lah..
Not worth the risk now
Wait until settle down and clear info

In easy word..
560mil reduction meant a 50% cut..
U bought 100k unit now.. x 10cent
Post CR yr unit will be 50k x 10cent
If the price go down..
Then 50k x 5 cent

Can scomies go 5 cent??
Historical chart show it has reached 3.5 cent

Calvin try to paint a rosy picture laa..
Capital reductiom meant that your share will be reduce to set off the loss..
In other case.. normally CR only carry out by financially distress company.. pn17 co especially, after presurred by creditor, npl will be realized as loss, then will normally use shareholder fund /equity (your share) to set off againts the loss.. thats meant your money no longer be treated as share u owned , but your money will be used to offset the loss..
If scomies so good..
I wonder the intention of management..
As i wonder their intention to merge scomies last time when the price was the lowest at the expense of minority shareholder.. in other word.. they try to takeover your share when the price is cheap.. so opportunist right??..
Maybe they are trying to make up the balance sheet to look good and eventually sold scomies..
At your expense lah.. ( before this kind of exercise, the management would love to see the price as low as possible, so they could bought over yr share cheap cheap)

penny stock of 6 cent can easily reach 12 cent = 100%

a stock of 50cent rarely can reach RM1

and vice versa

do u all understand what kind of proposal is that?
with that kind of proposal.. i would rather wait until they complete the consolidation ... would u want your 500k scomies share now become 100K? of course the price will be adjusted to 57Cent based on refencence price of .115
if the reference price is 0.9 it will become 45 cent
the minority shareholder has objected this kind of share of proposal before because we know it will not bring any benefit to us.. it will just benefit the interest of the majority
i have been here long enough to witness the story of scomi engineering and sgb merger, which after this kind of consolidation... new entity scomi share price fall even lower than scomies.. those involved will absolutely know that their losses is huge.. those who promote to buy call now can present the calculation ... the data all in the bursa announcements.
if u all dont learn from the history.. then i would not know what else to say

today will be red

kmc oil tool yg untung.. standard practice of profit shifting.. sama MO macam sumatec

klci down... scomies will rise againts the low tide?

brent oil going lower than at point before saudi attack..
saudi attack effect has ended

if u have holding power.. just hold at max 3m..
if cant
just sell now
n buy back later
potential could save 1,2,3 cent

saudi has restored production level.. oil price down.. back to square one
back to technical analysis = the lowest support is at 0.065

it is always better to sell 1st rather than been forced sell

yes calvin.. scomies is a fundamentally strong company... but price fluctuates depend on various factors... technical analysis also influence the behaviour becoz many believe in it ...qr report for sept still long to go ... those who bought on margin t4 has to let go 1st... then we have to wait for another rebound.. which we would not know when

8888010 u should do averaging lah.. for example if you had bought some of scomies share at 0.045 with the same quantity as what you holding with only 30% of your original cost 0.175.. your new average cost will be around 0.1