0.3 is my wish..but close at 0.27 is achieveable today because the last stable price is 0.27 for so long. If panic selling is create by big boy yesterday, maybe today day collect enough to push it up again...haha still buy at your own risk..because my price is 0.24
almufathal..is ok.maybe i wrong too. but in forum..all the buy call and sell call everyone with hidden agenda. i buy low now i want sell high is my agenda. but my data support is i knew yesterday sell down volume is less..and i'm 90% sure today will go up..by luck today up 10%.
AFTER futile attempts at going public, Ranhill Energy and Resources Bhd looks set on achieving its listing status – finally.
The company, which is undertaking a reverse takeover (RTO) of Symphony House Bhd, aims to potentially raise the same amount Ranhill had obtained from investors earlier via its aborted initial public offering (IPO) last year, according to sources. The amount would be in the region of RM750mil.
The deal will see Tan Sri Mohamed Azman Yahya, who is the current acting chairman and group chief executive officer of Symphony, and executive director Abdul Hamid Sheikh Mohamed, buying out the existing business of the company for RM60mil in a management buyout (MBO) exercise.
The shares will be consolidated and issued at RM1.50. The consolidation is in the ratio of 10 existing shares of 10 sen each to be consolidated into one share of RM1.
“The company will be issuing a one-for-one rights issue and expects to raise RM90mil. Symphony plans to raise a further RM600mil plus by subsequently carrying out a public issue,” says a source familiar with the deal.
The total amount, he says, will be subject to the approval of the Securities Commission (SC).
“The process should be completed by the end of the year. New shares will be offered to the public because the shareholders can’t take up everything.”
Ranhill’s core businesses are in the energy and environment sectors.
Under the energy sector, it provides engineering and power generation services, and its oil and gas consultancy business through a joint venture with Worley saw it involved in a number of major oil and gas jobs.
Under its environment business, the company provides water supply services, operates water and wastewater treatment plants and provides specialised services in the management and optimisation of water utility assets.
One of Ranhill’s key assets is its water concession in Johor – it had been awarded an exclusive licence by the government to provide source-to-tap water supply services in the southern state. That business constitutes about 60% of Ranhill’s business.
Ranhill, which recorded a net profit of RM282.23mil on revenue of RM1.99bil for its financial year ended Dec 31, 2012, withdrew its IPO following issues of disclosure transgression.
Ranhill’s IPO plans were put on hold last year after it emerged that there had been a disclosure breach related to the suspension of the licences of its affiliate company, Perunding Ranhill Worley Sdn Bhd, by Petroliam Nasional Bhd for an indefinite period.
The company, which had targeted to raise some RM753mil, returned the funds to its investors.
Subsequently, the Securities Commission (SC) imposed a fine of RM200,000 on the company, while Hamdan was reprimanded and fined RM300,000 for the failure to disclose the licensing issue.
Ranhill was supposed to list on Bursa Malaysia on July 31, with about 70% of its RM753mil IPO proceeds to be utilised for the repayment of borrowings.
The SC had instructed the company to postpone its IPO indefinitely on July 25 in view of the non-disclosure issue.
The following day, Ranhill announced that it had terminated its IPO. According to the company’s prospectus, it had debts of RM1.93bil and a gearing of 1.61 times as at end-December 2012.
The bulk of the proceeds from the IPO was to be used for debt repayment, with the remainder for business acquisition and expansion to increase Ranhill’s market presence.
will the company privatise with 0.20cent . later that use 1.50 to IPO the new share ? ? because that some investor held less than 10 share cant be convert to new ranhill share .
Kl-lee, where u get info on director disposal ah? I see no such disposal in bursa. Also the blog u posted is speculative only. Are u trying to scare ppl to panic sell? Lol
Valuemaster: are you a kid ? what's up with the blame game? i long exited this counter ... bought at 0.190 .. promo it say it could reach 0.300 and it did.. and many made money and thank me.. but you came and say it wont go higher and suddenly change your stand and support me instead and it did went more 0.300 ... by the way.. isnt it very obvious our comments are just mere comments that cant even do jack with shares prices or any external factors that controls it no matter how we praise it night and day? and i think most investors are mature to do FA/TA and trade at own risks .. i am pretty sure i did not force your hands to do buying/selling
fortunebull: yeah ! i think most are comment investor here.. when AT say buy at low.. no one listen but when steam finish and price falls start balme game ... why people so lazy to do research? yes, ranhill energy RTO not yet come to picture mah still very good price at this point
valuemaster: wait i predict this counter possibily reach $1000000 say on saturday (buy) and sell on sunday ... - get the joke? oh wait did the price just went up when i said so? ha..ha.. grow up bro .. stop blame game and be mature enough do own study research - listen here, listen there when investing sure way to lose loh .....
sangkut? down? dont blame me! blame oneself for not doing research! kids never chance attitude. dengar sana dengar sini - bad for health. by the way for benefit of doubt .. still got hope lah .. by the way what we say will never influence even flies .... if i say today raining.. will it rain? no ... am not God lah .. kikikikikiki
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Posted by almufathal > 2014-04-22 09:49 | Report Abuse
kytan....i really upset with people comments yesterday....apologies