E-filing website http://efiling.kehakiman.gov.my/eFiling/
Choose venue as Putrajaya - Mahkamah Persekutuan
Just go through each date to find out the appeal details.

I have checked the e-filing and no sign of MSIG appeal to the Federal Court. So I conclude that MSIG did not appeal to the Federal Court on the issue of liability which was ruled not in their favour in the Court of Appeal (which if MSIG appeal to the Federal Court and win, DPS will get nothing).

So MSIG definitely is liable for the insurance claim. It is just a matter of how much (the quantum) and when DPS will get it.

All now depend on this DPS appeal to the Federal Court, and possibly High Court reassessment of damages (if DPS lose in the Federal Court).

Yes. Tmr court case. It is only for case management for the court to check status of the case and to give directions. Do not expect anything major come out. Just a new date.

Since we are already surprised by DPS in them appealing to the Federal Court (rather than MSIG appeal to the Federal Court), may be there will be more surprise in the future.
Such as both parties come to an amicable settlement (i.e. they agree on a claim sum) and the litigation stop. In that event DPS will get the claim soon and no need 等到花儿也谢了。

Hein, I guess at least 6 mths and possibly more than 1 year to complete the Federal Court case.

As I said earlier on 16/5/2016, any appeal to the Federal Court from Court of Appeal must start with an application to the Federal Court for an approval to appeal, the legal term is "Leave to Appeal". This may take several months to complete.
(Pls refer to section 97(1) of the COURTS OF JUDICATURE ACT 1964 - on page 50 of http://www.vertic.org/media/National%20Legislation/Malaysia/MY_Courts_Judicature_Act.pdf)

Once the Leave to Appeal is granted by the Federal Court, then the appeal proper can proceed. The appeal proper may take another several months.

So u see, appeal in the Federal Court is proceeded in 2 stages. Once the 1st stage (i.e. "Leave to Appeal") is granted by the Federal Court, then proceed to the 2nd stage, i.e. the appeal proper.

So if DPS "Leave to Appeal" was not granted by the Federal Court, then it will finish earlier in several months and the matter be send back to the High Court for reassessment of damages.

If DPS "Leave to Appeal" was granted by the Federal Court, then it is proceeded to the 2nd stage, i.e. the appeal proper, then the whole process may about 1 year or more.

Why DPS want to take this risk again? I think DPS is taking a calculated risk.

If the issue of quantum whereby the matter be sent back to the High Court for a reassessment of damages, at the end of the day, DPS may get less damages awarded, maybe say RM15 million, instead of the full High Court Judgment sum of about RM19.5 million.

If DPS appeal to the Federal Court on this issue of reassessment of damage in the High Court and if they win, they will get the full judgment sum of about RM19.5 million.

Even if DPS lose in the Federal Court, the matter will still be send back to the High Court for reassessment of the damages. DPS only got to lose the Federal Court costs and their legal fees in the Federal Court, which I expect to be around RM100K and RM500K respectively (note that the costs in the High Court and Court of Appeal matters were RM50K each, we expect more costs in the Federal Court).

So if u weight the pro and con:
- If DPS does not appeal to the Federal Court, they may "lose out" RM4.5 million in the damages (assuming the new damage amount after reassessment is RM15 million).
- If DPS appeal to the Federal Court and win, they will get the full RM19.5 million (so in a way they "earn" RM4.5 million). Even if they lose in the Federal Court, the most they lose is about RM600K (i.e. RM100K for Federal Court costs and RM500K for their legal fees in the Federal Court).

So DPS weight the pro of "profit" RM4.5 million and con of "lose out" RM600K, the pro side definitely overweight the con side. That is why DPS appeal to the Federal Court.
Wouldn't u appeal to the Federal Court if u are in their shoes?

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Posted by Patrick13 > Jun 16, 2016 09:24 AM | Report Abuse

Why DPS want to take this risk again?

Charlie chia, hope that clarify.

It mean DPS is not satisfied with the Court of Appeal's decision that damages (i.e. the amount to be paid by MSIG to DPS) to be reassessed in the High Court, and they appeal to the Federal Court on this point.
[Damages to be reassessed in the High Court mean that the amount to be paid by MSIG to DPS is to be deliberated again in the High Court with new hearings and new decision on the amount of damages]

DPS want the original Judgment Sum awarded in the High Court, which is RM19,496,398.90, WITHOUT the quantum (i.e. the amount of damages) to be reassessed in the High Court again, as any reassessment of damages may result in lower sum awarded to DPS.

If DPS win in the Federal Court, then there will no need for reassessment of damages in the High Court and DPS will get the full original Judgment Sum awarded in the High Court, which is RM19,496,398.90.

Even if DPS lose in the Federal Court, it does not mean DPS do not get any money, just that the issue of quantum whereby the matter be sent back to the High Court for a reassessment of damages.

Woh, DPS is really geng!
When we expect maybe MSIG appeal to the Federal Court on the Court of Appeal decision, it is now the other way round, DPS appeal to the Federal Court !! (maybe on the COA's decision that the issue of damages to be send back to High Court for reassessment)

Case No is 08-264-05/2016, fixed for Case Management on 21/6/2016.

http://efiling.kehakiman.gov.my/eFiling/WebRequestEntry?PAGE=999998&PARAM_WS_NAME=SEARCHBYDATEWS&STR_CASE_HEARING_DATE=20160621000000&STR_COURT_LOC_ID=7fdf0bdc-9449-469f-bf37-8ccedc4d6275

Wow, something big coming !

Note that FY15 4th qr huge profit improvement in the engineering sector coincided with the with the opening of four new stations in Ampang Line Extension Project which launched in October last year (2105).
http://www.timeout.com/kuala-lumpur/blog/four-new-lrt-stations-in-puchong-will-open-on-march-31-032816

"The final three stations that make up the Ampang LRT Line extension – Puchong Perdana, Puchong Prima, and Putra Heights are still under works at the moment, and are expected to start operations in June."
and maybe the final 3 stations will bring further profit in FY17 2nd qr profit.

Ampang LRT Line extension – four more stations in Puchong to begin operations on March 31, 2016, may be that can be the impetus for the FY17 1st qr profit.
http://paultan.org/2016/03/24/ampang-lrt-line-extension-four-more-stations-in-puchong-to-begin-operations-on-march-31-2016/

Ah plane, give u 1 like.

Ppl have the right to response to any concern raise by u, be it main point of concern or not, for the sake of discussion.
Anywhere no one mentioned that the receiveables issue is the main point, it is only your own erroneous view, so pls do not patronise us again as though we cannot read!

Do it a few more time u would have ppl thinking negatively that Singaporean are generally a bunch of arrogant and patronising lot. U don't want to see that do u? or that is a fact already and u are just doing what ordinary Singaporean do, that is being snobbish and arrogant !

By the way u have not answer other issue raised here which is that comparison of AAX and KSL is not appropriate as they are from totally different industry. What is your opinion on that?

"Mango2?" -- u have any problem with that name?

Calvin, pls do not patronise us by educating us the purpose of forum !
If u feel there is any meat to your article, pls answer Icon8888 questions above.
Otherwise just throw in the towel.

Calvin Tan, as u hail yourself from Singapore, I assume u are a Singaporean. As I understand, Singaporean are generally proud of their country success and they feel superior toward their neighbour Malaysia. Even your Minister for Manpower Mr Lim Swee Say, in a total lack of sensitivity, openly said in a rally speech on 3/9/2015:

"Then in 1965, Singapore and Malaysia separated, because Mr Lee Kuan Yew wanted a nation regardless of language, regardless of race - one that is equal, ................
So I am thinking, if we didn't separate in 1965, today you and I would be Malaysians, 'heng' (lucky) ah,"
http://www.theonlinecitizen.com/2015/09/lim-swee-say-criticised-for-remarks-on-msia-and-china/

Also I understand Singaporean generally are proud of their national airline SIA, which is one of their national pride, and have the best of wishes for SIA.

That being said, I hold the view that your negative convictions about AA and AAX is simply your utterly bias views of AA and AAX, out of your love for your national pride SIA and your typical Singaporean superior complex over Malaysian.

(SIA own Scoot and 56% of Tigerair, and out of the 8 LCC in the Value Alliance, u only mentioned Scoot and Tigerair in your reason no. 1)
https://en.wikipedia.org/wiki/Scoot https://en.wikipedia.org/wiki/Tigerair

You may say these are just my personal opinions and I could be totally wrong. Then pls allow me to take on your reasons as stated in http://klse.i3investor.com/blogs/www.eaglevisioninvest.com/96620.jsp.' target='_blank'>http://klse.i3investor.com/blogs/www.eaglevisioninvest.com/96620.jsp.

But I must admit, I am not as learned as u are, so I could only take on your reason no. 3. I think my country other gallant compatriots can take on your other reasons.

Ok, your reason no. 3 is as below:

"Airasia benefited from cheap fuel. Now Crude Oil is moving near to US$50 a barrel. So the advantage is slowly being erased."

Calvin Tan, don't u know airlines hedge their fuel costs?
As I understand, AA and AAX hedged most of their 2016 fuel costs at USD54 a barrel, so even if the fuel costs move up, it will have little impact.

For the sake of discussion, we assume that all airlines foolishly do not hedge their fuel costs.
So the rising fuel costs is going to affect AA and AAX. But then does not it affect other airlines similarly also? If so then how could AA advantages being erased because of rising fuel costs when that is affecting other airlines similarly also?
Is your Scoot and Tigerair using a cheaper brand of jet fuel?

From your reason no. 3, one could deduced that you are either ignorant about fuel costs hedging or u are simply trying to mislead, in either case, that does not speak well about your knowledge or your motive on the matter.

As u could be so wrong in the simple matter of fuel costs as clearly illustrated in reason no. 3, I boldly deduced that u could not be too right about your other reasons too !

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Posted by calvintaneng > May 24, 2016 10:20 AM | Report Abuse

AAX?

A = An

AX = Axe


An Axe chopping down all hopeful gamblers?

Better chow early

SEE

http://klse.i3investor.com/blogs/www.eaglevisioninvest.com/96620.jsp

Thanks Radzi.

Radzi, can aax produce comparable result in 2Q and 3Q?

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Posted by radzi > May 20, 2016 12:50 PM | Report Abuse

I expect AAX revenue is RM 1 billion. Operating cost is RM 700 million. (I dont expect contibution from other income in this quarter), so operating profit is RM 300 million. Forex gain RM 150 million, so Profit before tax is RM 450 million. Deferred taxation RM 30 million, PAT around RM 480 million.

sostupid, such personal attack insinuate that you have lost confidence in your own unjustified conviction about aax, and have to resort to personal attack to boost your self-esteem.
How come lose steam so fast already? I thought u were so confident before?

Mr. Caveman, thanks for your reply. But u didn't categorically answer any of my 3 questions. U only came up with / repeat a few generalised statements to pass off as an "answer", which in actual fact did not answer anything at all !

Your inability to answer any of my 3 questions insinuate that your opinions on the issues of appeal to the Federal Court, which is not substantiated by any rules of court, totally has no legal basis and they could not stand when challenged by questions based on court appeal procedures. That is why u are avoiding the questions.

I rest my case. Thank you.

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Posted by Caveman > May 16, 2016 07:28 AM | Report Abuse

http://www.commonwealthgovernance.org/countries/asia/malaysia/judicial-system/

Hope this helps. The Court of Appeal ruled very clear already in the matter of a settlement amount to be determined by The High Court. The Court of Appeal made a sure ruling. The Judges followed and understood the matters and came to a decision. The Court of Appeal could have sent the matter to The Federal Court themselves if they could not come to a decision. I cannot find any reason why this would even be considered a misinterpretation of law or any higher matter. I am not a lawyer, by any means, but I do understand meanings of words.

Peace and grace be upon you beloved brothers and sisters forever and ever amen.

All glory goes to The Father

Though I said to stop discuss the matter, but unexpectedly Mr. Caveman pop up and raised an interesting point, and this brought me back here. Hope u guys don't mind.

Mr. Caveman, as u said "MSIG can only appeal to Federal Court if there need be a very special interpretation of the law", that I interpreted as MSIG can appeal to Federal Court on certain ground.
So at least u do not totally shut out MSIG avenue for appeal to Federal Court, and this open up channel for further discussion. Thank you Mr. Caveman, I appreciated that.

As I understand, any appeal to the Federal Court from Court of Appeal must start with an application to the Federal Court for an approval to appeal, the legal term is "Leave to Appeal".
(Pls refer to section 97(1) of the COURTS OF JUDICATURE ACT 1964 - on page 50 of http://www.vertic.org/media/National%20Legislation/Malaysia/MY_Courts_Judicature_Act.pdf)

Once the Leave to Appeal is granted by the Federal Court, then the appeal proper can proceed.
I understand that in the Leave to Appeal, the appellant (in this case MSIG) must state the grounds of their appeal. The Federal Court will then consider the merit of the grounds of appeal before granting approval to appeal, or therwise. So Federal Court in making their decision for Leave to Appeal, must know what is the appellant's grounds of appeal, stated in the Leave to Appeal. Without these grounds of appeal, the Federal Court cannot make any such decision, as there is no data to work on.

Now my questions to Mr. Cavemen are:

1) If MSIG is to appeal to the Federal Court, do u know what is their grounds of appeal in the Leave to Appeal ?

2) If u do not know MSIG's grounds of appeal, then how do u know Federal Court will not grant MSIG Leave to Appeal (when Federal Court themselves cannot make such a decision without first knowing MSIG ground of appeals) ?

3) For the sake of discussion, we assumed that u are very resourceful and u know MSIG is going to appeal to the Federal Court and u know their grounds of appeals in the Leave to Appeal, then why do u think MSIG Leave to Appeal will definitely not granted by the Federal Court (when normally in such situation both parties solicitors will not even know the decision, until given by the Federal Court) ?

Hope to hear from u your answers to the above questions, Mr Cavemen. Thank you.

By the way Mr. Cavemen, as I said earlier, MSIG might not even appeal to the Federal Court in the first place. So let us just treat this as an academic discussion.

Sorry guys, lenghty message again, as I really don't know how to summarise the above. Please bear with me just 1 more time. Thank you.

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Posted by Caveman > May 15, 2016 07:22 PM | Report Abuse

MSIG can only appeal to Federal Court if there need be a very special interpretation of the law. Meaning if the Judges did not understand something. Federal Court is not going to waste any time with such case as this. DPS has won original and appeal so it is time for MSIG to honor the insurance contract and quit chasing their tail. Now MSIG will have to pay for original court cost and now also appeal court cost. How much more are they going to pay is the question. The settlement should be the maximum. MSIG will still pay interest as time keeps going. More and more.
If you had a business and it burned wouldn't you want the promised insurance, that you pay a premium every month for, to help you get back to business? I would think so. Imagine if you depended on this business to feed your family. MSIG is in business to make money and not friends.
Please learn the parable of the fig tree.

Sorry JJchan, just a few last words. I think you just could not accept the reality that MSIG can still appeal further to the Federal Court and possibly have the COA and High Court decisions overruled. It is ok, I understand, as u have millions of dps shares. That must be very harsh reality to swallow indeed. Nevertheless I wish u all the best in your shareholding in DPS.

Dear JJchan, if u may pls allow me to close this discussion for the moment by saying:

At the end of the day, it is possible MSIG may not appeal to Federal Court, and even if they do, it is not necessary they will win. Furthermore it is possible that both parties may come to an amicable settlement without further ligitation.

I hope this may calm you down. Have a good rest. Bye.

Aiya, JJchan, how many times do u need me to repeat? Just reproduce my earlier reply to shareking1 in case u miss it:

"Why DPS won in the Court of Appeal and still not get one cent?
Because if MSIG appeal to the Federal Court on the issue of liability and if MSIG win (and thus the COA and High Court decision overruled), that mean MSIG is not held liable for the insurance claim (in other words, they are not responsible for the fire claim) and hence MSIG does not need to pay DPS. That is the purpose of appeal, to overrule the lower court decision.
Otherwise why do u think MSIG appeal to the Court of Appeal in the 1st place."

shareking1, did all the things I said about DPS is negative?
Pls read my earlier comment to TY828 where I said "it is possible that both parties do not want to fight on and they negotiate for settlement. In that event, this matter will be close fast and DPS will get the money fast" This I view as positive for DPS. So you are wrong one time.

Now u say I am no. 2. So now I am no longer the samngks that u presumed earlier. So u are wrong the 2nd time.

Does 2 wrongs make 1 right?

By the way shareking1, would appreciate if u do not name calling. We are all mature adult here, there is no need for us to act otherwise. Thank you.

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Posted by shareking1 > May 14, 2016 04:33 PM | Report Abuse

Dear all the dps supporter, from the word Mango2 (otak rosak no2), i strong confirmed that within short period dps can get the money.
Sebabnya otak rosak punya orang selalu cakap hal yang berlawanan.
Last time thank to samngks (otak rosak no1) everyday or every hour came here put negative comment , then i 100% confirmed win case for dps.

Oh my dear JJchan, if Federal Court cannot overrule Court of Appeal and High Court decisions, then what is the purpose of setting up the Federal Court!

Thank you TY828 for your agreement that at least my theory is correct.
U also have a point as it is possible that both parties do not want to fight on and they negotiate for settlement. In that event, this matter will be close fast and DPS will get the money fast.
I think this is what our Dear JJchan hoping for, right JJchan?

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Posted by TY828 > May 14, 2016 09:05 AM | Report Abuse

mango2, theoretically is correct. MSIG may appeal to Federal Court to drag time and force DPS to negotiate. Hence, MSIG can offer other claim amount. But it can impact MSIG reputation.
That why i prefer DPS can off-court negotiation to pocket in claim and use the fund for JV project asap.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

TY828 Oh Yeah... I guess High Court will no overthrow own judgement, stone on their own feet.
But I prefer DPS can off-court negotiation to pocket in claim asap. So DPS can start JV project asap :p
11/05/2016 20:10

Dear JJchan, I am puzzled why u keep on saying I condemn DPS. Would appreciate if u could clarify where did I condemn DPS.
I was only saying IN CASE MSIG appeal to the Federal Court and they win, then DPS will not get a single cent. That is a possibility and I believe this is a fair comment and I do not see this as condemnation.

I understand u have millions of dps shares and u are kanchiong about any comment which may not put DPS in the best possible light. But I hope u do not make any baseless allegation, out of your love/vested interest for DPS.

If u find any of my earlier comment is wrong, pls correct me. I am all ears, and I believe many ppl here will also appreciate your enlightenment. Thanking you in advance.

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Posted by JJchan > May 14, 2016 08:45 AM | Report Abuse

mango2 go and eat your mangos....for someone who doesn't own 1 dps share write lengthy
sentences to condemn............better spend your time to advise Najib on 1MDB

Dear JJchan, as explained above, I am not samngk. I also have no vested interest and I do not write to condemn DPS. I just want ppl to be clear about state of the ligitation and not make presumptive conclusion on the matter.

Of course, even if MSIG appeal to the Federal Court, it is not necessary they will win in the Federal Court. I am just saying in the event MSIG win in the Federal Court, then DPS will not get a single cent. It is only a possibility to consinder, not a definitive conclusion.

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Posted by JJchan > May 14, 2016 08:22 AM | Report Abuse

samngks is so frustrated that somehow he turned into a MANGO....writing a 32 lines page to condemned dps...surely got vested interest...(even i got millions of dps shares...hardly write
more than 10 lines to support )

A mango man is born

Shareking1, I definitely is not samngks. When I come to this forum, all samngks messages were not there anymore. I assure u I will not delete my message.

Why DPS won in the Court of Appeal and still not get one cent?
Because if MSIG appeal to the Federal Court on the issue of liability and if MSIG win (and thus the COA and High Court decision overruled), that mean MSIG is not held liable for the insurance claim (in other words, they are not responsible for the fire claim) and hence MSIG does not need to pay DPS. That is the purpose of appeal, to overrule the lower court decision.
Otherwise why do u think MSIG appeal to the Court of Appeal in the 1st place.

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Posted by shareking1 > May 14, 2016 06:56 AM | Report Abuse

Mango2, are you samngks clone?
I disagree with no 1 , dps already won court case , how msig still can appeal until dps no get one cent? Msig should appointed you became lawyer for won all the customer claims.

If anyone is thinking that DPS is going to get the insurance claim from MSIG and to get it soon, then he/she may have to think twice because ..

1....... Firstly, MSIG may still appeal to the Federal Court on the Court of Appeal's decision on 22-4-2016. Let us recap the Court of Appeal's decision:

"On the 22 April 2016, the Court of Appeal delivered its decision on the appeal filed by MSIG. The Court of Appeal dismissed the appeal by MSIG on the issues of liability and interest and thereby affirmed the High Court decision on the said issues.
However the Court of Appeal allowed the appeal by MSIG in parton the issue of quantum; whereby the Court of Appeal directed that the matter be sent back to the High Court for a reassessment of damages."

MSIG may appeal to the Federal Court on the issues of liability and interest, which were ruled not in their favour in the Court of Appeal (COA). And if MSIG win, then DPS will not get a cent.

MSIG have 1 month from COA decision on 22-4-2016 to appeal to the Federal Court, hence due date is on 21-5-2016.
(Pls refer to section 97(1) of the COURTS OF JUDICATURE ACT 1964 - on page 50 of http://www.vertic.org/media/National%20Legislation/Malaysia/MY_Courts_Judicature_Act.pdf)

This appeal to the Federal Court may take at least another 6 mths (pls note the COA appeal took 1 1/2 year to complete !! ) and if the Federal Court maintain the COA decision on 22-4-2016 and also whereby "the matter be sent back to the High Court for a reassessment of damages" then that may take at least another 4 to 6 mths time in High Court.
So if MSIG choose to appeal to the Federal Court, then likely u will not see the matter settle within this year.


2....... If MSIG does not appeal to the Federal Court, then the matter will be sent back to the High Court for a reassessment of damages, which may take at least another 4 to 6 mths (as there will be Case Management, then Hearing, then Submission and then Decision dates .. and may be in between some adjournments !).

After reassessment of damages is complete and the new quantum (i.e. the amount to be paid by MSIG to DPS) decided, any parties not satisfied with this new quantum (maybe MSIG think it is still too high or DPS think it is too low) may still appeal to the Court of Appeal on this new quantum ! Then it is back to Court of Appeal all over again and this will take at least another 6 months. If that is the case, then likely u will not see the matter settle within this year.


Hence if MSIG is to fight on (whether thru appeal to Federal Court on the issues of liability and interest or appeal to Court of Appeal on the new quantum from reassessment of damages), then do not expect this saga to end so soon.

Just read it. Welcome back icon.

Furthermore i3 is such a fun place where u guys joke around, wouldn't u miss your friends, and "foes" also, if u leave? So stay lah ... please.

Icon, I do not know exactly which recent happening you are referring to, but as long as your message/article is not blocked unnecessarily, then maybe your presence may serve as a helpful balance. Let ppl choose who to listen.

Needless to say, u also know this is never a fair world. But as long as there is a role for u to play, and a helpful one in that, why not continue? Many ppl would appreciate it. I have been reading your articles since your 1st Thong Guan write up back in 2014 before you become famous and like many ppl here. They and I will miss u if u leave.

Do not let your emotion get the better of u, if that is the case, and please reconsider thank you. Just consider for a moment, if u do not like our country political culture, does it mean u have to leave the nation?

AA current price is "artificially" bring down so the PP price 1.84 is within 10% of the last 5 trading day average, ultimately for Bursa approval. Once PP approval/done, AA price should back to its "natural" state, which is at least above RM2 (to be conservative).

ngch: possible scenario: foreign fund selling aax, and they may have less exposure to aax-wa, which was well supported by local investor (taking cue from Kama), hence the current situation.

Not sure whether mother can go down as low as 0.40 or 0.50, but below 0.60 is definitely a possibility.

As mentioned earlier, whenever there is BIG discount in warrant with no prompt adjustment, it is hinting something is very wrong and it is time for mother to trend down to warrant level or below until no discount but with premium, as exemplified by vsolar in April/May 2015.

Earlier, wa value 0.175 was used to calculate the mother imminent "target", which is 0.775 (i.e. 0.175 + conversion 0.60) or below.

Now when the pa value 0.06 was used to calculate the mother imminent "target", it give us 0.60 (i.e. 0.06 + conversion 0.54) or below !!

So do not be too surprised if the mother go below 0.60.
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Posted by KopiPeng668 > May 2, 2016 12:13 PM | Report Abuse

嗯，跌到0.4,0.5那边等你先～

Thanks smkts123 to point out that sgb mother has come down from 1.43 to 0.90. when warrants was top at only 0.33.

So in fact, vsolar history has already repeated in sgb (i.e. warrant trade at big discount and mother soon go down to warrant level and lower).

Because on 26/4 warrant top at 0.33 was a big discount to the mother top at 1.43, and by vsolar history, sgb mother should go down to 0.93 and lower (0.33 + conversaion 0.60) and last friday when sgb mother reached 0.90 (3 sen below target 0.93), vsolar history was repeated.

Now warrant is lower at 0.175, also at big discount, will history continue to repeat with mother go down to 0.775 and lower (0.175 + 0.60)?

The coming weeks will tell whether sgb is another vsolar in the making.
If it is, then I am afraid any pa/wa conversion might not be fast enough to catch up the mother fall.

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Posted by smkts123 > Apr 30, 2016 11:20 AM | Report Abuse

Refer to Mango2....SGB & SGB warrants culculation ....since flying high....warrants 0.33 & SGB RM 1.43.....current...warrants 0.175 & SGB RM0.90 sen...ex.p RM 0.60

Whenever there is BIG discount in warrant with no prompt adjustment, it is hinting something is
very wrong and it is time for mother to trend down sharply. This happened to vsolar in April/May
2015.

The current sgb warrant big discount is very similar to vsolar when it was goreng to the peak
around late April to May 2015, wherein vsolar mother thereafter trend down sharply until no
discount but with premium for the warrant !

If the same history repeat again, we should expect sgb mother to go down to 0.775 and lower (warrant 0.175 + conversion 0.60), and if the warrant go further down, sgb mother will tank further !

I meant aax mother will fly towards 66sen and beyond !

Maybe Kama is hinting that aax mother should worth at least 66sen (20sen + conversion 46sen),
to complement Tony comment on 20/4/16 that aax is "Probably the most undervalued airline in the world".
With these 2 strong hints, I think aax will fly after 1Q result out, if not earlier.
(The lower hedged fuel cost of US$54 a barrel compare to an average fuel cost of US$75 in FY15, the stronger RM in 1Q and strong 1Q season ... etc should produce much better 1Q result than 2015 4Q)

Both Nekosaan and i3Media are almost new i3 member. They have not establish their credibility yet. Pls take their buy call with a pinch of salt. They might just want u to buy high so they can sell.

So u see, Ah Plane, you are not as useless as what many would claim you are. You do contribute constructively, even though sparingly here and there, despite your claim that "I am not the kind of kind person macam icon. I don't like to share my views and what I found". So Ah Plane, pls keep up this spirit of constructive contribution. U will have my support, as least in this particular aspect of constructive contribution. Cheers!

Sorry I typed too fast, Ah Plane. What I meant was your comment last night at least have brought some life back here. i3 is never dull with u around.
Oh by the way, I need to thank u for your contribution to my comment on 19:01 last evening, as I got the link http://www.theborneopost.com/2016/02/29/gold-prices-to-continue-upward-trend-experts/ from your earlier comment.

Ah Plane, I just try to make some light talks because suddenly here become quiet. It is ok if u do not get me, no big issue. At least u bring some life back here. Thanks.

On a lighter note, if the above really materialise, it is possible Bornoil price will fly to Ah Plane's dream price of 0.40 !
Then at least Ah Plane can be proud of this baby as his gallant effort in promoting it do not go down the drain and furthermore he he will be vindicated of the bad name that he promote only lousy stock. Sound tempting, Ah Plane?

If Bornoil have the xtra cash, no imminent other investment choice and upbeat about gold price trend up,
it is wholy not impossible that they buy gold.

As Raymond Teo said recently “We are optimistic that gold prices would continue to head upwards.”
( http://www.theborneopost.com/2016/02/29/gold-prices-to-continue-upward-trend-experts/ )

Let us say the 500+kg gold was bought for about 80 million ringgit, if gold price keep trend up and by the
end of the year, they sell the 500+kg gold for 30% trading gain, that is a nifty 24 million profit.
(3 time more than 2015 fyr whole year profit of about 7 million and 2015 fyr ytd (3 qtr) of 8 million, wow !!)

That is just easy money with no sweat, better than put it in FD isn't it? I think Bornoil also subcribe to the Deng Xiao Ping theory:-

"Whether a cat is black or white, as long as it can catch mouse, it is a good cat"

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Posted by MrWealthy4321 > Mar 8, 2016 11:25 AM | Report Abuse

Bornoil used part of the right issue money to buy back its share.,,
this is more likely than using the cash bot gold ..
logically why buy gold when you are already mining gold ..

I think the purchase of gold can be qualified under "Future Investments" in Details of utilisation on (pg 17 and 22 of the Abridged Prospectus) "which may include options such as aquisition of assets".

Though the max for Future Investments is 60 million, Bornoil may use another 20 million which was not raised from rights issues, to pay for the 500+kg of gold (which should costs about 80++ million).

If this was the case, then I think we will not see further substantial increment of gold inventory after the purchase of this 500+kg of gold, as the amount for "Future Investment" was fully utilised,

The coming months Bornoil gold inventory will tell whether the above proposition hold. Again, let us wait and see.

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Posted by YOLOOOO > Mar 6, 2016 05:48 PM | Report Abuse

Most of the cash you see in the quarterly report ended 31 October was raised from the right issue. They never say that they are going to use these money to buy gold to trade. Think logically, if you are LCK, will you invest millions of ringgit into a company just to buy gold and trade LOL

It is ok, I did not take it serious anyway.