ozzie75: Ekuinas did reply, since the OSV assets already listed as ICON OFFSHORE, TGOFFS need 2 consult BOD of Icon Offshore 4 the waiver.

The Board has informed Ekuiti Nasional Berhad
(“Ekuinas”) that upon completion of the acquisition of
the marine offshore businesses of the Vendor Group,
Tanjung will once again be involved in the provision of
marine offshore businesses and will breach a
provision in the sale and purchase agreement entered
into between Tanjung and Kota Bayu Ekuiti Sdn Bhd
(now known as Icon Offshore Berhad) (“Icon”) dated
23 April 2012 (“SPA”) prohibiting Tanjung from
engaging in the provision of marine offshore services
for a period of 3 years from the date of completion of
the SPA (“Non-Compete Clause”).

Ekuinas had via its letter dated 5 September 2014
advised Tanjung that in anticipation of the possibility
of breaching the Non-Compete Clause, Tanjung
should seek a waiver on the Non-Compete Clause
from the Board of Directors of Icon as Ekuinas is not a
party to the SPA and hence, is not in a position to
address the request.

Like Ranhill & Symphony RTO also, TGOFFS & Bourbon + BNI group opt for long extension, 1 yr for the RTO exercise from Jun 2014 - Jun 2015. Weak shareholder with no holding power sure kena flush out.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1757041

On behalf of the Board of Directors of Tanjung (“Board”), AFFIN Hwang Investment Bank Berhad (formerly known as HwangDBS Investment Bank Berhad) (“AHIB”) wishes to announce that Tanjung, Farid Khan bin Kaim Khan and his business partners, Mower Tunggal Jaya PT, Megagold Indonesia PT, Zona Maju Mapan PT and their business partners and Bourbon Far East Pte Ltd (“Bourbon FE”) (collectively referred to as the “Parties”) have, via a letter of agreement, mutually agreed to extend the exclusivity period for the HOAs from 5 October 2014 to 30 June 2015 (“Extension”) to facilitate the physical inspection and valuation exercise of the vessels to be acquired by Tanjung and the due diligence exercise (hereinafter referred to as the “Second Extension Letter”).

For information purposes, the physical inspection and valuation exercise require a substantial amount of time to complete as a large number of vessels are involved, where there will also be limitations on accessibility to conduct the physical inspection of the vessels as the vessels are constantly on the move and the vessels sometimes operate in restricted and international waters.

Save for the above, all the other terms and conditions of the HOAs remain unchanged.

Full details of the Proposals will be announced in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad once the relevant definitive agreements in relation to the Proposals have been executed.

A copy of the Second Extension Letter will be made available for inspection at the registered office of Tanjung at 802, 8th Floor, Block C, Kelana Square, 17 Jalan SS7/26, 47301 Petaling Jaya, Selangor Darul Ehsan during normal office hours on Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.

In addition to the above, on behalf of the Board, AHIB wishes to clarify certain statements in the article entitled “Tanjung Offshore to apply for six-month extension of HoA” that appeared in The Edge Financial Daily on 2 October 2014 (“Article”). Please refer to the attachment in this announcement for further details.

This announcement is dated 3 October 2014.

Well, that's your own -ve view.. how can it be fact?

New Petronas project still on-going 3-4 yrs, new subsidiaries biz will generates profit,
RTO if delay prospect to approves will be higher later.

That one is not official annoucement. If postpone then 6mths sure confirm, will try accumulate more if have extra cash.

Small/weak player/shareholders alwys kena flush out.
Big players alwys make money after bought the shares cheap and later push up and sell higher.

maggiel: Possible coz if see Ranhill RTO case.. it target about 1 yr to complete.
Since TGOFFS propose RTO in June and theres new shares issuance for assest swap, new share issuance for new merger valuation, right issues to raise its capital and the non-compete clause with Ekuinas also expiring mid of next yr.. so its just nice.

Symphony RTO Ranhill oso takes long time, announce in Mar. Jun/july finalized proposal details, Approval maybe in Nov/Dec, listing expected next yr February.

http://www.thesundaily.my/news/1098350

Ranhill inject RM800 assets into Symphony via shares swap & proposed restricted issue to raise up to RM600 million from the exercise.

Sweetie Lim: TGOFF previous before announcement for RTO proposal & PETRONAS Project also not much movement, usually consolidate down with low buyer vol with big sell vol for big players accumulate the shares slowly. Just like last year July went up to 0.725 after news of potental M&A of RM1billion and later down to 0.52 and on Nov rose up back till 0.76 which is quite "unexpected". Those weak shareholders usually sell at low price and later bought back at higher price... whereas the big players usually accumulate at low price and distribute back at high price. If want to buy TGOFFS.. the sweet spot alwys 0.55-0.58 lvl.. need to have some holding power also coz the big players alwys play slowly and sudden spike up high..

Fri is only 3/10/14. Not yet dateline.

Suspend? Today still have trading.
Result due date is 5/10/14, but its on Sunday, and next week Monday 6/10/14 is Public Holiday replacement.

Sumatec have abt 3.4billion floating shares.. not easy to move up unless operator pump in a lot money.

Lol.. ongmarine.. u alwys so -ve. If u think TGOFFS even after get RM200million PETRONAS project also cant make money, faster sell ur TGOFF shares if u have to other buyers/operators and go buy other stock that can go up since u can see the future of stock.

Can c the buyer & Seller queue . big players laying low coz its good chance today to accumulate more shares from weak shareholders.

sengseng: MACD already break Golden Cross. U use homily chart? Nice.
I chk there r some small entry by the big players today.
4 big buy transaction 1000X 100 unit shares at 0.575 (1x) and 0.58 (3x).

Yes.. some big players entering TGOFFS back today.... hopefully they will increase the buying pressure more with bigger buy VOL.

Good example is BJCORP.. Today total transaction is RM 84.4 millions with high Vol traded but only increase up by small 2.6%. The big players there pump in big money buying/selling with high vol and still can make good profit. They don't care abt the % at all... VOL already generate big profit for them once price % move up abit.

TGOFFS total transaction today only RM2.59 millions with 45% buyer
Last Friday total transaction value RM4.58million with 56% buyer.
Total transaction for both Fri and Mon is abt RM 7million+ looks

Today total Vol traded & buyer strength reduce but accumulation at higher price AVG at 0.5778.
Need bigger vol & stronger buyer strength to breakout more convincingly.

needaname: I didn't say % return is important, tat one is maggiel.
I said for for me Vol is more important as it will determine the return profit size even the % return is small.

The rich get richer, the poor get poorer.. if don't know how to play smart.

Big player play vol... small player play %. Different lvl altogether.
Big player can exit much earlier even with small % coz the profit is high enough to cover the brokerage fees, etcs..whereas.. small player need high % profit to cover the brokerage fees to even breakeven or see some small profit returns.

Well.. just invest according to own individual plan & goals.. can make $$$$ is already good whether small or big amount.

Closing strong at 0.58 with big vol buyers at 0.58 detected around 4.28pm today. Total transaction RM2.59million, avg transaction price 0.5778 with 45% buyer. Selling absorb well by buyers with uptrend bias intact.

% returns is useless if entry Vol is little.
Eg. if ur capital entry RM10,000.. and get return 10% only RM1000, whereas those bought in with Bigger vol with bigger capital RM100,000 will get RM10k profit with 10% returns.

So bigger VOL .. translate to bigger capital entry is more important than just % capital appreciation..
Even with 100% profit return if ur entry only RM1000 with only little units vol bought.. u only get RM1000..others with bigger vol shares in hand can easily get more returns with even 1% of appreciation...

Dpds on how big is your entry vol.. If enter small vol.. sure get small fish.
My lowest entry was 0.555 with small vol only. Other bigger vol entry abt 0.60+.

Uncle that bought last week 0.53 caught big fish ady..lol..

As usual.. TGOFFS players still play slow n steady rise.. only 1 transaction 1000 X 100 units share detected this morning.. big players not rushing to push/spike up price yet.. more like luring more buyer support & at same time wait for seller 2 queue sell "cheap" for them :D
MACD already golden cross + breakout 0.58, uptrend sign is stronger now.
2nd half time trading should be more exciting once 0.585 breakout convincingly..
0.60 - 0.615 will be next resistant. Support at 0.56.

BJCORP total transaction abt RM59million.. only move from 0.57 to 0.6055.. To much floating shares.. abt 4billion shares. TGOFFS much lesser shares only have 374million shares.. if big player pump in RM10-20 million sure spike up more.. 0.575 cleared.. looks going towards 0.58-060 lvl in short term.

Looks good. 10.26am already have total transaction abt RM1.57million.

KDJ, RSI getting stronger, soon will cross macd.
STO already move up from oversold and rebound up already start .
Need more buy vol to move price higher.

Today high 0.57, low 0.54, close at 0.56, strong/heavy buy/sell transaction at 0.555/0.56 with Avg 0.555, Total transaction value RM4.58million with 56% buyer.

Today trading mostly biggest only 1000 X 100 units shares, still consider small-mid size player trading vol.... no bigger vol transacted >1000.. like 2/3/4/5k X 100 units shares at one go not surfaced/ recorded yet. Sign of big/strong players still withholding their buying power..or just buy/accumulate up slowly while on the way up.

Price movement trending higher upwards with increase vol.
Next resistance lvl 0.58/0.60, support lvl at 0.55 and 0.53.

Hope next week, the big players can play accumulator up more aggressively.
Buy 3k-5k X100 unit shares continuously... then only its big show time to make the share price really fly.

Buying momentum +ve. More to come.
Those bought low 0.52..profit in hand.
Those bought 0.60+... should be coming soon...
0.70? Once Rto confirm.. not just 0.708...rm1+ tgoffs will chase up icon offshore price.
Wait 4 the confirmation of right issue price.

Should be kassimSave & ongmarine... :D

They have few days to play bfr rto dateline.. 5/10/14. Public holiday.. 6/10/14 no trading.. so about 5 more days + today.

Moving up slow and steady back to support lvl 0.55/0.56.
Should move up higher towards 0.58-0.60 in short term if buyer continuous to buy up.

They most likely have accumulated since abt 4 mths ago from side way and price drop movement 0.66 - 0.52, estimate AVG abt 0.57+/- around the share placement price last yr. If they want to get profit, TGOFFS share price should move higher than 0.60++ - 0.70++ to get good profit. With RTO just one week to go, they might push all the way close to 0.708 when close to dateline once they have accumulated enough shares..

TGOFF biz not related to DJ.. its related to big players plan... if they want to push up.. like last yr from 0.50 can spike up to 0.725 -0.75.. tat one only rumours M&A RM1billion plan.. :D

Sumatec have 3.4billion floating shares... today RM74million transaction move up 0.02sen bfr drop 0.01 from previous day price..

Glotec have abt 5.3billion floating shares.. need RM100million transaction a day to move up 0.005/0.01+

TGOFF only have abt 374millions floating shares.....today transaction abt RM2million only to drop 0.02 from yesterday close price.

If the big player pump in abt Rm20million++ for TGOFFS share transaction.. possible can move +RM0.20.

Dpds on the big players plan.... with RTO (RM500million+) around corner + rm200million Petronas contract in hand, TGOFFS shares should worth a lot more the RM0.60 ..

http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=308973&Itemid=79

http://www.offshoreenergytoday.com/tanjung-offshore-bags-epic-contract-from-petronas/

RM200million is a big project.. usually TGOFF get about RM50 -150 million worth of project from PETRONAS.

Biggest project bagged last time was RM430 million from U.S.-based Murphy Oil Corp
http://uk.reuters.com/article/2007/03/12/tanjung-idUKNWNA263720070312

http://www.themalaymailonline.com/money/article/tanjung-offchore-unit-scores-rm200m-contract-from-petronas-carigali

KUALA LUMPUR, Sept 25 — Tanjung Offshore Bhd’s unit, Tanjung Offshore Services Sdn Bhd has bagged an engineering, procurement, installation and commissioning (EPIC) contract worth RM200 million from Petronas Carigali Sdn Bhd.



In filing to Bursa Malaysia, Tanjung Offshore said the contract was for the provision of EPIC facilities for the Operational Reliability and Integrity Gauging of Instrument based Safeguards (ORIGInS) project.

The ORIGInS project is an initiative from Petronas Carigali’s facilities, covering Peninsular Malaysia, Sarawak and Sabah operations.

It is to improve all automated safeguard items under the process shutdown system and fire and gas detection systems across Petronas Carigali’s upstream facilities, whether pneumatic, hydraulic of electronic-based by identifying potential deficiencies in these automated safeguards.

The duration of the contract is for three years effective from September 5, 2014, with the option to extend for an additional one-year period until September 5, 2018.

The contract is expected to contribute positively towards the earnings and net assets per share of Tanjung Offshore for the financial years ending December 31, 2014 to 2018.


“The Board of Directors of Tanjung Offshore is of the opinion that the acceptance of the contract is in the best interest of the company,” it said. — Bernama

Good news la... price still drop clearly shows the operator/big players know abt this contract result want to accumulate more TGOFFS shares .. thus press down share so panic/weak shareholder sell to them.

PETRONAS CARIGALI awarded project... RM200million.. 3yr + possible another 1 yr extension.

PETRONAS contract.. TGOFFS also can secured....
RTO next ....can get more projects.

1st of all the in RTO M&A proposal, TGOFFS don't have to come out with much money to buy the assets... just issue new shares for Bourbon. TGOFFS share value will increase due to asset injected in. To balance the new value increase, more new shares will be issues and bourbon+BNI will be invited to buy the shares cash so can own 33% or more shares of total TGOFFS shares capital. Existing TGOFFS shares market price should match the full value of the RTO offer + new asset injected valuation.. unless some sellers want to sell cheap that time. Big players who have accumulated alot existing TGOFFS shares will get the most profit.

needaname: Then u have to lookt b at ur own statement coz it seems u only think 1 way... "the rto is a bit dubious and it does not make sense that operator do it now unless it is delayed or cancelled".

Needaname: U chk the buyer.. they just collect whatever the seller throw price and didn't push up/support back. The buyer could be the operator as well... Last few days to collect TGOFFS share at cheaper price.

If theres no buyer queue.. then it says something.

Yes.. announcement maybe on Monday 6/10/14.

http://klse.i3investor.com/servlets/anpth/1016421.jsp

On behalf of the Board of Directors of Tanjung, AFFIN Investment Bank Berhad wishes to announce that Tanjung, Farid Khan bin Kaim Khan and his business partners, Mower Tunggal Jaya PT, Megagold Indonesia PT, Zona Maju Mapan PT and their business partners and Bourbon Far East Pte Ltd (collectively referred to as the “Parties”) have, via a letter of agreement, mutually agreed to extend the exclusivity period for the HOAs for another 1 month from 5 September 2014 (being the expiry of the exclusivity period of the HOAs) to 5 October 2014 to enable the Parties to continue to discuss the details of the proposed transaction (“Extension Letter”).

Save for the above, all the other terms and conditions of the HOAs remain unchanged.

Seller very persistent to press down price... from 0.55-0.56+ lvl...
Last week bfr RTO dateline on 5/10/14 only do selling actions...

Repeating last year price movement in June.. price selldown to abt 0.50- before going up to 0.725 -0.75.

Sumatec also start back uptrend after big plunge recently..
rm50million worth of transaction this morning.
TGOFFS bigshareholders/players still want to wait.

Pushing down price again.

uncle:.. must act fast if wan2 buy.. good chance don't alwys come.. :D

Private shares placement at 0.57 sen RM17million (10/9/13),

Gastec purchased RM34.3 million (21/10/13),

Wavenet purchased RM 37million (21/3/14),

Sold TMS for RM9million (1/9/14) http://www.ihsmaritime360.com/article/14374/tanjung-offshore-to-offload-subsidiary

JV with Fircroft under the name of “Fircroft Tanjung Sdn. Bhd.” (“FTSB”) RM1million (19/8/14) - 51% shares own by TGOFFS.
http://www.mole.my/content/uk-based-fircroft-jv-supply-og-manpower
http://www.seatrade-global.com/news/asia/tanjung-offshore-boosts-capability-in-oil-and-gas-industry-crew-supply.html

Why need JV with Fircroft... with Bourbon big asset potential coming in, need 2 get more skill workers.

The purpose of incorporating a joint venture company (“JV Co”) to jointly undertake the manpower supply business for the oil and gas industry and petrochemicals industry exclusively in Malaysian territory,

Sellers pressing down more today.

Its dpd on the player risk tolerance lvl. TGOFFS alwys goes down to 0.55- 0.53 low before rebound up high several times bfr if look at historical price movement. Usually sudden spike up after long sideway/downtrend indicates there r big strong players already accumulate earlier and dispose for profit through the price rise later on. Those big shareholders with RMmillions worth of TGOFFS shares also not selling their shares.. either accumulation/selling several times from 3rd party accts since they have big capital.

Maybe some ady reach their cut lost price n decided 2 exit, or
buyer/seller same group with stronger seller to lure more selling down 2 accumulate minority shares. Big shareholders no actions yet.....unlike Fitters case where previously the share price alwys get selldown by big players till around 0.50 few rounds 4 accumulation before going up strongly to 0.70/0.80/0.90 and recent high 1.30.