before end of the year, this company will be very close to being a GN3 company (similar to PN17), if biz do not pick up substantial profits in the last quarter. major equity holders have probably sold out by now. the controlling shareholder... have been disposing since last year. if you have not sold, you are already too late.

company had resorted to revaluing it's properties in order to write some profits into the company to ensure shareholders' funds do not fall below the 50% threshold (50% of paid up share capital). signs of desperation.....

The silence is deafening....

Looking really bad... cash position is only RM29.8 million (lower than some non-performing oil and gas counter, i.e., TGOFFS at the least, still have RM70m cash sitting in the bank or equivalent). Will the company run out of cash soon? And call for rights issue?

... check the quarter to quarter results. Writing off RM41m after only one year of investing in PPE. Does this mean that the investment property is fully written off? What is going on? We have not heard of any updates on the investment property issue after it was highlighted to the authorities. What is the status now?

TOB or the press/media always say this company does not have core business. I guess it's more accurate to say TOB does not have profitable business. Revenue is still at least RM100 m. So, how can no core biz? Just stupid directors managing it.

A company struggling to clean up, needs young blood with enthusiasm. Age 60 is psychologically a dinosaur. Sorry to Rahman to have to do this....from those that know him

Many IC supposedly formed to do work.... Hehe. Just short of an "I" to make it an ICI....then can smear paint all over the place using IC...I

Sah sekarang.....rumuour going around that smear campaign was planned, now dah start. I wonder how naruwanma got the info

Looks like kena again....

There has been no fundamental change to the company's business nor business model apart from negative news.....that warrant price increase. That says it all....

The momentum seems to confirm your point

So, the only guy with direct oil and gas upstream engineering hands-on experience that built the company order book up to RM200 m (+RM250 m) from zero is suspended, and irked the billionaire passive investor that have various oil and gas businesses and contracts. Meanwhile actual internal control issues is not resolved. Looks like this company will be run by lawyers who knows how to siphon money away....scary thoughts. Their new company motto - fumble your way through with legal mambo jumbo. Wahlau-eh, like that also can ah? Be prepare for another round of blood letting

Board tussle. Chance to get out.....we will never know what the direction will be after the tussle.

Agree with good advice. Looking through past announcements, Harzani resigned abruptly just a few days before company AGM....without any good reason. Dubious action or limelight shy?

Ok Ok, my mistake....your simple math

viper88.... I know what you are. I am not attacking your simple analysis. No need to react.

company does not make good use of cash... more than RM8 million. it's not generating much returns on cash held. lots of plant and machinery but not much in landed properties. need another round of 'rumour' to drive this counter.

if it's just info.... thanks very much. But you 'analysed' that:

"If added up altogether total is abt RM140million++ worth of cash, new biz assets and subsidiaries.
The total are not including additional earning will comes from recurring rental income and properties appreciation from Wavenet. Also its not yet including the 10% capital raised via private share placement acquired by Tan Sri Datuk TKS at 0.57 abt RM17million. If include all estimated about RM 160million+/- or min abt RM150million if take Tan Sri Datuk TKS current share price value."

Am sure you cannot find that statement from Bursa.

But then again, we do appreciate your comments. And whatever info you have made available.

Wah...this stock fallen from grace, again. Thought there was supposed to be some news coming out to make it more exciting. Kena con many ppl.

Properties held had not been revalued since 2012. Some since 2000. Has the hallmark of a potential diamond. Made up of mother and son team. ED remunerations are quite reasonable based on current profit levels. I think it's a keeper.

A jewel in the rough....cash and equivalents net of overdraft is about RM21 million. Market capitalization about RM28 million. Almost 75 sen cash backing for each share! At current price of 68 sen, cash per share is at 1.1X....wow

Actually, it's good that this forum has a lot of interest because there are so many comments - be it good, bad, silly or downright wrong :) We should appreciate all. Other forums, pretty dead. It can only mean it's really under valued, under appreciated or a really bad company. This company has more than 6,000 named shareholders, which is great!

This is one of the best performer stock related to oil and gas for year 2014. At current price level, it's really value for money....in terms of potential dividend yield. Consistent profits earner in the last 10 years.

This counter seems to have ran it's course. Already 3 strikes....(look at the past 6 months; three spikes). Now back to pre-run levels. Probably, already out of steam.

Corporate typhoon??? You mean more bad news coming?

I have read the news, read the past analysis and even analyse the transactions undertaken. So far, I see cold hard cash leaving company coffers. But no profits to show. Imagine this - the management or Board of Directors proceeded to spend RM34.3 million to acquire additional 49% of GasTec, but where is the additional profits? It certainly didn't show up in the annual reports nor quarterly results. It don't even have an order book large enough to sustain the PE multiples that it was bought at. Even if you earn 3% of RM34.3 million, company would have earned RM1.0 million a year. Of course it's not good enough. But better than zero now. For that size of investment, it should yield at least RM4 to 6 million at the least.

He is pointing to fact that cash has been drained out to enter into questionable transactions. From Rm120 m, now only left Rm59 m. How to remain competitive?

http://www.gastec.com.my/v2/news.php

No further updates for a year already..... Is it a sign of decline?

looks like share price has some upticks due to the news

no talking... just stating facts. the rest is up to your imagination

Operating expenses per year is 32 m last year....so, the rest is up to your imagination

johnnyDepp is right...the contract is only expected to generate up to 200 m based on estimates. This is an umbrella contract or price agreements (according to Petronas source). With Petronas cutting it's spending, this type of contract will be first to be affected. So, achieving full 200 m will not be reasonable expectations. Would be extremely good even if 50% is generated.

Board should expedite to disposed it's Birmingham property now that UK properties have appreciated a lot this year. If it's sold at RM65 million (property plus refurbishment cost), then it's 36 sen per share. They should sell while it's good. We are entering a new era of higher interest rates, which may depress real estate valuations.

Cash backing per share is 20.0 sen....total cash & short term investment is about RM70 million. Divided by 324.4 million shares gives you 20.0 sen per share.

If TGOFFS continue to just break-even, share price should be at least 20 sen

Weird company business model....margins even thinner than trading companies. In hard times, KGB could be first to take losses. That's probably why investors are dumping and not picking up this counter. Too bad. All it needs to do is to build upstream, or acquire simple but higher margin businesses.

can see they have started to move into the O&G sector... doing fabrication work for oil and gas projects. see possibility it may have higher contribution from non-timber business within 12 month horizon.

Ekuinas was the smart one... they bought out the jewel in the crown in TGOFF and eventually list it. They didn't continue to hold TGOFF.

So.... we look like we are not so smart. Then again, we cannot compare ourselves with Ekuinas. We have small fund to invest. Ekuinas has the Gomen support to buy themselves out of any trouble.

yes, let's get Chuah to help at the AGM!!!

yaay! kassimSave, you are right! other oil & gas counters have increased by 50% to 150% in the last 12 months.

Edmund investor.... If you hold for 1 year, and its still where it was, with potential downside, I think you are not commenting for interest of small investors like us.... are you trying to manipulate us into a fantasy... ha hah. we shall wait and see....

before COB, there will be some pushing from insiders... before t+3 is done, when price spikes, remember to unload. this is trend for this counter.

minority have to voice out now to ask for higher price. we should ask the Board not to accept at 70.8 sen. this is one chance to push price even higher. target 1.00 per new tanjung shares!

kassimSave..... very very good question! nobody is really asking this point. cos nobody want to force Ekuinas to make a negative statement. but that question is still lurking, ready to pounce on unsuspecting and uninformed investors

Yes, you might be rewarded...... -ve-ly

ozzie75, YES, you are absolutely RIGHT!!! there are still major non-disclosures at this point. we can only wait and see.... until then, this is a up and down game.... the chops

i may be wrong, but most of the volume buys came in late on Friday, half day after the announcement. if they are short term plays, then you will see them flipping on 3rd day to other accounts (if they are not funded via cash or leveraged). then see how it goes.

the company has load of cash and shareholders are in their late years. what do you think will happen? this company will be attractive to raiders. hence, day trading as short term measure. and long term, will have to wait and see what they plan to use the cash for.

wait t+3 from Friday....

has steam for another 25 to 35%