no more announcement for this week. its time for the big force to get back to work since the road block are cleared. as i mentioned since early this week, if you use cash to hold you are safe... if you play margin, risk is yours
secret2win, glad that you are holding both... i only accumulated mama so far.. but after this morning, im giving some unconditional love towards the son also haha.
Kindly be advised that at the request of MBSB, trading in the Company's shares will be suspended with effect from 9.00 a.m., Monday, 6 November 2017 pending a material announcement.
As such, all structured warrants relating to MBSB will also be suspended at the same time. 03/11/2017 18:01
Come on guys . U r just kidding right if you think that 1200 biji of esos share will affect the share price or even movement ??? Hahaha. That’s like a mere 450k to 500k top to absorb the entire esos lots. Hahaha As usual, I will keep supporting the price. Do throw some to me if you want to sell
SO what is billionaire entrepreneur Wong Thean Soon (pic) better known as TS Wong, up to these days?
Wong is well known for his position as the managing director and single largest shareholder of MyEG Services Bhd which has a market capitalisation of RM7.8bil.
Wong’s recent entry in companies such as Excel Force MSC Sdn Bhd and Palette Multimedia Bhd in recent months has stirred much interest.
But is he also involved in Cuscapi Bhd ?
Of interest is the fact that Datuk Jayakumar Panneer Selvam is taking up a placement of shares in Cuscapi.
His emergence in Cuscapi has piqued the interest of the market. This is because Jayakumar is also an investor in Excel Force, where Wong is a substantial shareholder. It has also been reported that Jayakumar has been a project director in MyEG, Wong’s mainstay.
Jayakumar has bought into Excel Force with a 2.2% stake and is holding more than 50% the company’s warrants, the company’s annual report shows.
Meanwhile, Wong owns almost 20% stake in Excel Force.
Cuscapi’s placement
Last month Cuscapi announced a plan to raise RM79.8mil by selling new shares and warrants to fund its expansion plans.
Ultimate Quality Success Sdn Bhd (UQS), an investment firm controlled Jayakumar, is said to be taking up two-thirds of the new shares on offer. There were three other individuals who were lined up to take up part of the placement shares as well, namely Ong Chin Hui, Tan Sri Koh Kin Lip and Datuk Dr Tan Kim Heung.
However, less than a month after making that announcement, Cuscapi tweaked the proposal and cut down the down the size of its new share sale due to concerns expressed by UQS.
In a filing with Bursa Malaysia on Thursday, Cuscapi said Jayakumar was concerned about the issuance of shares to the other three investors.
“Subsequently, UQS, being the largest investor, expressed concerns over the issuance of additional shares to the other three investors.
“After the engagement with UQS, Cuscapi held discussions with the other three investors who agreed to mutually terminate their respective subscription agreements with Cuscapi,” the company said.
As a result, the total gross proceeds would be reduced from RM79.8mil to RM53.2mil and the utilisation of proceeds has been revised.
Based on Cuscapi’s current issued capital of 482.92 million shares, UQS would end up with 29.3% of the company’s enlarged share capital and 40 million warrants.
Some market observers reckon that the new shareholder is planning to utilise Cuscapi’s expertise in software development for projects related to the goods and services tax (GST).
Shares in Cuscapi has been on the uptrend, rising more than 250% on a year to date basis.
The loss-making company was last traded at 42.5 sen a share, giving it a market capitalisation of RM207mil.
Clearly, the significant run in Cuscapi’s share price this year is not about the company’s business alone but the potential changes that could take place.
Investors buying into Cuscapi must be banking on the past successes of MyEG, which has done well in terms of its earnings and share price growth over the last decade.
The value of MyEG since its listing has risen by more than 100 times since its Ace Market listing in 2007 from RM69mil then to RM7.8bil currently.
MyEG started as a provider of e-government services with the provision of solutions that are related to the vehicle road tax and drivers’ license renewal among others and has been diversifying its businesses commercial solutions some three years ago.
In the case of Excel Force, Wong first emerged in the company after it acquired an 18.7% stake on April 26 via his vehicle Asia Internet Holdings Sdn Bhd.
A month after Wong’s entry into Excel Force, the stock hit a 52 week high of RM1.96.
On a year to date basis, shares in Excel Force has jumped more than 150%.
The company may be the beneficiary of the Alternative Trading System (ATS) that the Government announced during the tabling of Budget 2018 last week.
ATS is a market venue to bring together purchasers and sellers of securities. It originated in the United States as an alternative to traditional exchanges like the New York Stock Exchange and Nasdaq in trading of securities.
Since 2001, more than 50 countries have launched the ATS, providing investors with choices in execution venue.
Excel Force is the market leader in Malaysia for the provision of financial services business solutions where it currently has 90% of the stockbroking Public Gallery Display System and 70% of electronic client ordering system market share in Malaysia.
Wong was also reported to have 3.92% stake in broadband, networking and mobile health company Palette Multimedia Bhd, making him the fifth-largest shareholder in the company, according to Palette’s 2017 annual report.
Since September this year, shares in Palette has spiked up almost three-fold.
As if that weren’t enough, Wong’s name also surfaced this week in the share
It is quite obvious Wong, Brahmal & Jaya are currently scouting for ACE counters with huge future potential like MYEG & Excelforce. So far, Palette and Cuscapi are on their shopping list. You won't go wrong if you buy these 2 counters.
It is interesting to note that Wong & Brahmal only owns less than 5% of Palette each and they only wanted to be a passive investor because the company is currently doing well with major contracts from Russia.
However in the case of Cuscapi, Jaya will own almost 30% stake after the PP but the company has not yet turn around like Palette. Do you think he want to be a passive investor with 30% stake? I'm not surprised if Jaya wants to become a director to protect his interest.
The 1st phrase is that the Q result must shown some "turn around" sign, or else very hard to convince others to hold this company in longer term. On top of these, UQS still haven't comes to the conclusion if they will go ahead with the PP. Until this moment, we are just speculating all the possibility.... But the chart is showing a strong reversal for cuscapi in mid term.
Sharks going in for the kill on ace counter Keno, Rev,keyasic,theta........all suffered..... The trend will continue...... Run...... Switch to COASTAL according to our Friend I hate hits.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
secret2win
840 posts
Posted by secret2win > 2017-11-03 12:37 | Report Abuse
Good also la ppl take profit now