The directors are selling so that they have funds to subscribe the Esos and at the same to press down the price so that Esos exercise price is not too high. I believe the directors would have got substantial Esos allocation that's why they are selling their existing shares. For the directors to enjoy the benefits of Esos, the company has to perform well in the long run so that it can be translated to higher share price. The company is grossly undervalued based on NTA of RM0.67, EPS of RM0.10 and PE of 5x. The company is also cash rich and in net cash position after bank borrowings

PCCS has got plenty of cash > RM50 mil. It has proposed for shares buy back which in a way will support the share price

exercise price also comes with a discount of 10%

it can't be 0.20. ESOS' exercise price will be based on 5 day volume weighted average market price that probably explained why the directors also tried to push down the price

the directors needs money to subscribe for ESOS that's why cashing out existing shares

the shareholders put in money to subscribe right shares when the company is in dire need of additional capital to operate few years ago and only cashing out now which makes perfect sense

Directors sold small quantity only as compared to the daily volume

uncle sold all and create tension so that he can collect low. How could his view changed so fast where nothing has changed? the company's profitability is likely to sustain with the cost cutting measures in place amidst stagnant revenue. With NTA of RM0.67 and low PE of 5x, this stock has lots of potential

The directors are only selling the rights shares they subscribed few years ago together with free warrants. Large chunk of shares are still being held under indirect interest. The disposals by directors are pretty normal and cause no concern as they are just taking their money back but of course at a profit now as the company is doing well

Carimin is indeed a safer bet given its low debt position and +ve net cash position RM15.9mil. Dayang just announced fund raising exercise yesterday incl cash call to pare down debts

Unlike Penergy which was affected by -ve loss marine division, Carimin only owns 2 vessels ie. Carimin Airis and Carimin Acacia and both were deployed at Dulang Oilfield.

Carimin achieved lower profit last Qtr given both vessels were off hiring, Carimin Airis - 5 years mandatory dry docking/maintenance and Carimin Acacia - monsoon season which result in higher expenses incurred on maintenance and 3rd party charter last Qtr. Expect coming QR to improve!

Extract from last QR's comment below:

"Despite the dry docking of Carimin Airis for its mandatory 5 years major maintenance
and off hiring of Carimin Acacia during the monsoon season, MS division’s performance
registered an improvement by 1.92 million with some utilization of 3rd party vessels for the MCM
contract."

In 2014, IPO price of RM1.10 was based on forward PE of 11.63x.

Using the same PE with annualized EPS of RM0.1452, the current share price should be RM1.70

Brent Crude Oil crosses $67 more upside tomorrow

Saudi's deeper cut of oil export in April means oil price will only go up

Oil up OG counters bull run can't understand why rush to sell?

True but I see Carimin still got potential with anticipate increase in offshore work orders from Petronas and if they can get any other new/additional contracts will be bonus. Petronas has announced more capex 2019 on upstream activities with record profit made. Current share price is still below IPO price of RM1.10. Financial performance should rightfully grow from strength to strength given the bullish industry outlook. Carimin is also in asset light and manageable gearing position.

Carimin diversified into civil construction after Lim Yew Hoe came on board in 2016 from Emas Kiara. It acquired a subsidiary of Emas Kiara, Noblecorp and formed Carimin Bina. This biz segment has never take off and in fact on down hill as shown by lower revenue in 2Q of RM2.2 mil as compared to RM5.5 mil in the previous quarter. Not sure the intention of his disposal maybe for personal reasons?

Trapped, I'm not sure but looking at directors' shareholdings so far only Mr Lim Yew Hoe sold his shares since early this year from total 15,718,300 down to 13,278,000 shares with total 2,440,300 shares transacted through open market. These were the block shares he acquired in 17 off market and continued accumulating through open market until June 18. I supposed he is just locking in some handsome profits now from the investment he made couple years ago. None of other directors including the MD, Mokhtar Bin Hashim (58,873,234 or 25.17%) have sold any shares.

On the other hand, Wan Hamdam is not involved in Carimin's biz in fact he has been reducing his total shareholding since 16 from 28.4 mil shares to 14.5 mil currently (total sold 13.9 mil) in tranches. The other major shareholder, Wong Kong Foo is still holding his 40,710,128 or 17.41% and he has not sold any shares.

Lower EPS for 2Q is due to lesser high margin offshore activities admist monsoon season. However, Carimin has completed more onshore activities in 2Q but these are low margin cost plus procurements ie allowable expenses + margin. Next Q should see profit back to normal