http://www.themalaysianinsider.com/business/article/tanjung-offshore-posts-pre-tax-loss-of-rm909000-in-q2

http://www.theedgemalaysia.com/business-news/304355-tanjung-offshore-records-rm121m-loss-on-2q-revenue-plunge.html

http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=1063258

Tanjung Offshore Posts Pre-Tax Loss Of RM909,000 In Q2

KUALA LUMPUR, Aug 25 (Bernama) -- Tanjung Offshore Bhd reported a pre-tax loss of RM909,000 for the second quarter ended June 30, 2014 compared with a pre-tax profit of RM6.21 million in the same period a year ago.

Revenue declined to RM34.55 million from RM81.81 million in the same quarter previously, due to completion of various engineering equipment contracts in the early part of this year, the company said in a filing to Bursa Malaysia.

Going forward, Tanjung Offshore is optimistic on the prospects of the oil and gas industry in Malaysia and the region by penetrating into niche areas within the sector for growth with a wider range of products and services in the near future.

-- BERNAMA

http://www.thestar.com.my/Business/Business-News/2014/08/25/Tanjung-Offshore-slips-into-the-red-in-Q2/

KUALA LUMPUR: Tanjung Offshore posted a surprising net loss of RM1.21mil in the second quarter ended June 30, 2014 due to a decline in contracts and higher operating expenses when compared with net profit of RM5.73mil a year ago.

It announced on Monday it posted a pre-tax loss of RM909,000 compared to RM6.21mil a year ago. Its revenue fell 57.7% to RM34.55mil from RM81.81mil. Loss per share was 0.35 sen compared with earnings per share of 1.73 sen.

"The decrease in revenue is mainly due to completion of various engineering equipment contracts in early part of this year," it said, adding the lower revenue also dragged the company into the red.

"The loss after tax registered in the current quarter is mainly due to the reduction in revenue from the products and services division where the bulk of the contracts were completed in the early part of this year," it added.

The products and services division's revenue fell nearly 80% to RM12.52mil from RM61.56mil as it had completed the previous contracts earlier.

However, revenue for the engineered packages division -- which consists of mainly gas generation packages and offshore equipment packages -- rose to RM13.44mil from RM10.52mil. This was mainly due to additional contracts secured from international markets during the quarter under review.

As for its maintenance services division, revenue slipped to RM8.58mil from RM9.74mil due to the completion of long term maintenance contracts in 2013.

In the first half ended June 30, 2014, its earnings tumbled to RM882,000 from RM8.36bil in the previous corresponding period. Revenue shrunk sharply by 60% to RM68.81mil from RM171.83mil.

What I mean is speculators currently targeting penny stock Ijacobs, Glotec, PDZ, Sumatec,.. theres possibility they will also aim for TGOFF also since the RTO proposal is within 3mths from 5/6/14 and next month is the due date. RM100millions++ transaction in a day will be a big boost for TGOFFS, last year early Sept, TGOFFS can spike up from 0.595 to 0.695 in single day trading....but the best spike performance was last year May, TGOFFS open from 0.445 shoot up till highest 0.76 in a single day trading also. Once the big players start pushing up strongly.. TGOFF will fly up high.

http://english.astroawani.com/videos/show/bisnes-awani/fircroft-eyes-30-to-40-growth-for-malaysian-business-34855

Today spotlight on SUMATEC.. crazy pumping rm144million transaction value 2day... penny stock under speculators play....

I've Glotec shares last time at 0.09 abt 2 yrs back went up high till 0.115, retrace back 0.08/0.075 and swap 2 other shares after not move much but drop instead. Now abt 2yrs..i noticed Glotec shares active up till 0.10 lately... and today Glotec shoot up till 0.14... 60% profit if still holding and sell at today's high :D Well good things need to wait... hopefully not too long.

RM120million!!!! transaction for Glotec... big players really loaded $$$$$$.
Moving into O&G biz really brings big $$$$$$$ in.

Glotec keep shooting up rm98 million transaction so far 2day up till highest 0.14 even kena UMA.. penny stock play very strong lately. TGOFFS still not yet start.

OSK also moving up very strong lately... still proposal stage for M&A with CIMB and MBSB. http://www.thestar.com.my/Business/Business-News/2014/07/10/Where-does-OSK-fit-into-RHB-Cap-CIMB-MBSB-merger/

OSK big boss already push up from 1.67 (Jun14) till 2.48 (Aug 14)

OSK valued at RM 2.69 and in order to makes the merger offer attractive.. merger offer price should be > 2.80 - 3.00++.

TGOFFS still sideways not moving up much yet.. need big players strong buying support to push up like OSK.

Anbz: welcome b. Glotec 4 billion shares also can move up from 0.055 till 0.105 recently...takes about 2 yrs time. Tgoffs newsplays for rm1bil M&A also abt time to move up..abt 2.5yrs after sold osv biz 2ekuinas. The big boss waited till neck long ady....dont want 2 wait another 6 more mths till the non compete clause expires..

Below are just my simple personal view:

Sept 13 - Jan 14 (5mths) .. price alwys in the range of 0.60 - 0.65+/-.
This year Feb 14 till current Aug 14 (6mths)... price seems to hover in the range of 0.55 - 0.60+.
Median will be abt 0.60+/-.

If trace the price before TGOFF Ekuinas sold of its shareholding in TGOFFS abt 24% (rm73.4million - 62millions) , TGOFF share price trading around 1.42 - 1.30, sold of its OSV core biz RM220million to Ekuinas, TGOFFS share price last trading at 0.97 before adjusted/stable at 0.55+/- range.

Ekuinas combine shares value exited + OSV core biz total about RM 300million erased TGOFFS market capital shares price by about rm0.80++.

The proposed RTO value RM500millions is more than Ekuinas previous $$$$ portion in TGOFFS.
If calculate the estimation value of RM500million RTO asset injected based on above, the value itself is abt RM1.30+ excluding current TGOFFS share price of 0.55-0.60. (offer price 0.708).
If combine.. the new value should be about RM1.80- 2.00.
Conservative min maybe about Rm1.30- 1.50

Authorize shares adjusted to RM300million + rto assets RM500 million = RM800million.
Raise capital via right issues.1:1

Right issues at RM0.70 - 1.00 seems reasonable.

To push TGOFFS from 0.59+/- till 0.708 follow by up till 1.30-1.50 / 1.80-2.00 is no chicken feet.. need few hundred RMmillions to execute. Once all completed successfully..TGOFFS will will be loaded later with market capitalization of RM1billion++.

marcusngmunkit: If big players push like Gpharos will be outstanding :D
End of May, from 0.30 straight limit up 0.60, next day limit up 0.80, following weeks limit up again till 0.97, consolidated abt 1 month and went up till 1.09.

Next coming play will be the financial qtr results in another 2 more weeks.

IJACOBS went up way high 2day close at rm0.72 far much higher from the rto offer price. Either speculators punting sky high or insider know future price value after the merger. Its current market capital only abt RM100million, rto via issuance new shares value at 0.25.

TGOFFS current market capital RM 225million, rto via issuance new shares value at 0.50 + raise fresh new capital via 1:1 rights issue. New market capital expected increase to abt RM1billion.

http://www.theedgemalaysia.com/business-news/293215-tanjung-offshore-to-acquire-assets-from-parties-including-bourbon-.html

TGOFFS price should be much higher than IJACOBS from rto and market capitalization value in future if things goes as planned.

TGOFFS sideway 0.58-0.595 range more like chging hands. The big players don't let the price going down and up much sign of "accumulation" or luring ppl to sell and buy at that price range.

Ijacobs very strong push by the big players... really too much le.. 0.71++ ady from 0.25++ in May.. lol.

Patience.. even Glotec also wake up from long slumber and jump recently.

Price hovering below 0.60 since 26/6/14 till now almost 1.5 mths.
Most of the daily trading at lowest 0.58, high around 0.59 & 0.595.
Buying and selling around this same lvl range.
No breakout yet.. still consolidated sideways.

Penny stocks seem strong today.. a lot moving up.

http://www.malaysiandigest.com/business/512211-tanjung-offshore-eyes-possible-return-to-marine-business.html

Tanjung Offshore Eyes Possible Return To Marine Business
Details Published on Thursday, 07 August 2014 13:45

KUALA LUMPUR: Tanjung Offshore Bhd is eyeing business expansion, including the high possibility of the company reentering the marine business, which it exited in 2012.

Executive director Muhammad Sabri Ab Ghani said after two years of restructuring its business, Tanjung Offshore is now on back on the right track, and looking at business expansion to strengthen its presence in the oil and gas (O&G)industry.

“We are going to engage with all the major production sharing contractors, as well as Petronas, and focus our effort on what we know best in developing our strategy in this market segment,” he added.

He said to date, the company has bid for contracts worth RM500 million in Malaysia and has an orderbook of over RM100 million.

Muhammad Sabri said Tanjung Offshore is currently divided into three business segments, namely, engineering packages, product services and maintenance.

However, he said the company recently signed a joint venture (JV) agreement with UK-based technical recruiter services, Fircroft Group, to create a joint entity known as Fircroft Tanjung to provide the latters services in Malaysia.

Executive director Eric Tan said the JV with Fircroft will allow the company to bring industry expertise into the market.

“In the O&G industry, human capital is a primary asset and also a constraint. Via our partnership with Fircroft, we are well placed to address the needs of the markets, to grow,” he added.

Muhammad Sabri said Tanjung Offshore is likely to return to the marine business if the reverse takeover of the company by several parties, including a unit of French-based oil and gas giant Bourbon SA, materialises.

Tan said the deal, however, is still in under due diligence to determine the size of the takeover.

Both director also declined to comment on the company’s application to Ekuiti Nasional Bhd (Ekuinas) to lift a “non-compete” clause to enable the takeover to go through.

“We are having an ongoing engagement with Ekuinas. We cannot comment too much at this juncture because it is in the preliminary level,” Tan said.

Previously, Tanjung Offshore exited the marine business in 2012 after selling its marine vessels business arm, Tanjung Kapal Services Sdn Bhd, to Ekuiti Nasional Bhd (Ekuinas) for RM220 million.

The company also signed a non-compete clause in the deal which restricts Tanjung Offshore from being involved in any business similar to Tanjung Kapal Services for three years.

The clause will only expire in the middle of next year.

– Bernama

Lucky bought some at 0.585 before raya.... :D
Should break 0.60 soon.

Buying and selling pattern still odd... seller % higher but still absorb and close at 0.59 with sign of uptrend. Qtr result should out end of August.. maybe 29/8.

Moving up abit today. Transaction about rm1.3 million, avg at 0.584.
Seller % higher than buyer but price still moving up slightly like previous weeks.
Seems like accumulation at 0.585 lvl.

Price been moving sideway around 0.58 - 0.60.
Not much news play, market sentiment weak and public holiday end of last mth.
Now just early of Aug.

U miss something? Bourbon Far East PTE Ltd - SG
http://www.bourbon-online.com/en/news/2014/06/discussions-between-bourbon-far-east-and-tanjung-offshore-berhard-06-05-2014

OSV good biz coz PETRONAS giving out huge Billions project... every1 want to get some bite on it. If u have PETRONAS bidding license but no OSV core biz... must do RTO /M&A so can join in with the big player. http://www.theedgemalaysia.com/business-news/290716--seven-newbuilds-to-enter-osv-market-this-year-biz.html

Whether RTO will work or not.. let the top ppl involve do the work.
Buy, Sell or dont' buy...its invester/trader own decision.

Wait for coming EGM updates and newsplay... increase share capital to RM300 million possible indicators the RTO +ve progress.

August month will be an exciting month coz its the last month to get approval for RTO.

MZRTrade: Now pending ASC increase, RTO, new valuation after RTO and also Right Issues price. Current market shares capital RM200million market price increase to RM300million abt 0.50 - 0.60+ , RTO offer price 33% for partners at rm0.708 with new assets worth RM500million+. My own personal view with new market capital increase + RTO assets around RM800-1 billion should be around RM 1.20 - 1.40. If right issue 1:1 at 0.70, price expected to move up to 1.40+/- and adjusted back to 0.70+/- after ex-date. Price after 1 yr possible goes >rm1+ if biz profit result strong.

Bought some at 0.585.

Baik la... tapi kalau bagi Bonus share 2gther lagi baguih..

This proposal is 2 issue new shares to increase share capital not to dilute the shares.
Usually after increase ASC.. more +ve good things will come.

Market shares capital value RM200million increase to RM300million, later +
RTO abt RM500million++ to become RM1 billion follow by Right issue 1:1....

Proposed Increase in Authorised Share Capital
The Proposed Increase in Authorised Share Capital is required to facilitate the issuance
of new Shares pursuant to cater for any future increases in the share capital, right issues, etcs.

Means.. Share capital expected to increase further in future ...... more $$$$$ coming.

Increase share capital also good like give bonus shares http://www.slideshare.net/sagar_sjpuc/bonus-shares-presentation..

Example can see CBIP 21/4/2011 proposal announcement.

http://announcements.bursamalaysia.com/EDMS/edmswebh.nsf/all/482576120041BDAA482578790037F771/$File/CBIP%20-%20Announcement.pdf

Bagi bonus share 1:1 + increase Authorised share capital from RM100million to RM500million, From 200,000,000 shares to 1,000,000,000 shares.

Share price from 1.90++ melambung sampai RM 3.89... for tat exercises.

Latest price 4.72.

I received the circular and voting form this afternoon :D

400,000,000 increase to 600,000,000 shares means extra 200,000,000 (15% new shares.) new ordinary shares value at 0.50 shares which is extra RM100,000,000 in share capital.

This RM100,000,000 is to support the conversion value of outstanding TGOFF WA and the exercise of SIS options.

Still at proposal lvl.. if approve share capital value will increase from RM200 million to Rm300 million.

Warrant A due to expire on 7/4/16 have a total of 29,981,990 outstanding warrants A that yet to be unexercised + 37,355,300 unissued ordinary shares for SIS option granted under the SIS.

With about 2 more yrs before warrant expire.. this EGM want to speed up the valuation process to support the total new shares value most likely for the upcoming RTO in early Sept.

Share capital increased from RM200million to RM 300million. From 400,000,000 ordinary shares of 0.50 sen each increase to 600,000,000 ordinary shares of 0.50. 200,000,000 new ordinary shares of 0.50 worth RM100,000,000

The proposed increase in Authorised Share capital to facilitate/accommodate the issuance of new shares arising from the on going conversion of outstanding Warrants A and exercise of SIS options.

Looks good, increase of RM100million worth in share capital for the coming conversion Warrants A and SIS option.

7228 TGOFFS TANJUNG OFFSHORE BHD

GENERAL MEETINGS: NOTICE OF MEETING

Type of Meeting : Extraordinary General Meeting

Indicator : Notice of Meeting

Description : Extraordinary General Meeting

Date of Meeting : 07/08/2014

Time : 08:30 AM

Venue : Kenanga Room, Kelab Darul Ehsan, Taman Tun Abdul Razak, Jalan Kelab Air

Lama, 68000 Ampang Jaya, Selangor

Date of General Meeting Record of Depositors : 01/08/2014

Low vol.. still not yet active.

Keep for abt 1.5 months.. should be able to see some upside..> 0.61++

Good buying strength from 4.09 - 4.37pm at RM0.61 clear almost half of the big seller queue,
AVG transaction at 0.608, with buying 49%.
Accumulation/absorption still concerntrate at 0.605& 0.61 lvl.

Today low buyer queues and low % buyer but price still can move up 0.615 again :D

Today transaction actually quite abnormal. Golden Cross sighted :D

Total transaction RM1.35million, AVG at 0.602 with only 12% Buy (weak buy)
but price still can move up from 0.585 low till 0.615 high close at 0.61 with weak buyer supporting queues. Good accumulation at 0.605 & 0.61.

Its seems the seller allows the price to move up and control selling to maintain the price above 0.60 eventhough theres less buyer support queues. No more selling pressure to force price goes down low back.

Base on today transaction and also since end of last week, personally i feel its quite obvious the operator wants the price to move up again above 0.60+.

Have to see whats the new valuation after the merger of assets and right issue price 1st..
If right issues at 0.80.. price should go 1.60+++ before ex... min also abt 1.50+/-.

About 2 more mth to go till 4/9/14. News play should be out soon since theres some happening with TGOFFS price since end of last week and this week :D

Okok: Best buy price range is 0.585+/-. If can buy at 0.56 sure win :D.
Buy above 0.60 abit volatile but if have holding power also can make $$$$$$.

With RTO newsplay on 5/6/14, new shares will be issued at a fixed issue price of RM0.708 for 33% of total shares , personally I feel TGOFFS share price should be above 0.61 minimum.

The issue price of the Consideration Shares of RM0.708 was arrived at after taking into consideration the following:

(i) a premium of 15.7% to the 5-day volume weighted average market price (“VWAP”) of RM0.612 of the existing Tanjung Shares up to and including 2 June 2014, being the last full trading day prior to the suspension of its trading (“LTD”);

(ii) a premium of 39.6% to the audited consolidated net assets (“NA”) per existing Tanjung Share as at 31 December 2013 of approximately RM0.507; and

(iii) a premium of 36.9% to the unaudited consolidated NA per existing Tanjung Share as at 31 March 2014 of approximately RM0.517.

The issue price of the Consideration Shares is justified after taking into account the premium accorded to the issue price of the Consideration Shares to the 5-day VWAP up to and including the LTD, audited NA per Tanjung Share as at 31 December 2013 and the unaudited consolidated NA per Tanjung Share as at 31 March 2014.

If there +ve news for the RTO approval.. price most likely will moves up further close to 0.708 or higher depend on the revise new asset merger values and the right issues price announcement later on.

Estimation: TGOFF RM228million + Bourbon injected assets RM 500 million + Right Issues = abt RM1 Billion++.

ICON OFFSHORE after listing, it market capitalization is abt RM 2.17 Billion.

If ICON Offshore can get RM2billion, TGOFFS get RM1 billion+ still not so bad :D

Nice.. goin up above 0.60+ again. $$$$$$

With RTO proposal announcement, the operator cant dump too much later will scares off its biz partner. Low share price means the new biz partners are paying more for the RTO offer at 0.708 and later hard to do Right Issue also if price stay "low".

Price already hit 0.58 low and rebound/moved up 0.605 today.
Accumulation since end of last week like ard RM1.3-1.5 millions transaction daily.

No latest news yet but from the stock price movement.. its moving towards uptrend again.

Good accumulation at 0.60..Vol also increasing like last Friday.

0.585+/- good to accumulate. Price moving up highest 0.605 today.
Looking good.

Normally its the operator that xxxx those who bought at high price and and didn't exit when downtrend start :D

Strong buying at 0.60.. seems like some good news coming soon.
Price move 1st before news out. :D
More $$$$$$ for coming Raya.

Once hit oversold bottom with low vol lvl, will wake up n go up. No need scold le..
Patterns n trends are your best friend.