KUALA LUMPUR (May 6): Straits Inter Logistics Bhd has signed an agreement with an upstream oil and gas (O&G) company Elsa Energy Sdn Bhd to explore potential acquisition opportunities.
In a bourse filing, the group said it had entered into a non-binding Heads of Agreement (HoA) with Elsa Energy.
“The HoA forms the basis of consensus and mutual interests between the Company and Elsa in pursuing business cooperation and or collaboration and or partnership agreement for the purpose to further expand their respective business operations,” said Straits Inter Logistics.
Straits Inter Logistics stated that the HoA is to last for four months from today, in which a definitive share sale agreement (SSA) in relation to the proposed collaboration could be finalised and concluded.
It added that an announcement will be made on the final terms and nature on the collaboration between the two companies, and or the acquisition of an equity stake upon the execution of a share sale agreement.
In terms of the rationale of signing the HoA, the group said it allows for the two to explore potential business collaboration opportunities, particularly as Elsa is mainly engaged in O&G upstream segment and Straits Inter Logistics is a provider of oil bunkering services and oil product trading.
The company added that the potential business cooperation between it and Elsa could result in joint-venture (JV) or the acquisition of an equity stake between the two.
In the case of an SSA materialising, UOB Kay Hian Securities (M) Sdn Bhd will be appointed to help undertake the SSA between Elsa and Straits.
The stock closed unchanged at 24.5 sen — with 8.22 million shares changing hands — giving the group a market capitalisation of RM159.41 million.
"Profit guarantee + buying at price cheaper than the new shares issuance + uptick in demand + runway in capacity - low profit margin - cash tight - potential of further dilution... Interesting company but one with little margin of error."
the journey to Pulau Billion 118 has begun, The VIIP passengers have boarded, If you have not purchased a ticket, today is the last day. ortherwise you will be left standing at the pier smelling the exhaust smoke as the ship charges northwards towards its destination
OTHERS STRAITS INTER LOGISTICS BERHAD ("STRAITS" OR "THE COMPANY") - SIGNING OF PROVISION OF BUNKERING SERVICES AGREEMENT BETWEEN TUMPUAN MEGAH DEVELOPMENT SDN. BHD. (TMD), A 55% SUBSIDIARY COMPANY OF STRAITS AND BINTULU PORT SDN. BHD. (BPSB)
How can you tell it's the director disposing shares? Don't they need to disclose it to the Bursa if they do so? Just curious, cause don't have any announcement on that.
This stock is 7/10 stock... fine margin.. a small error will lead to big negative impact. But buying / entry price at around 0.23-0.24 is quite ok... cos acquisitions via share swap deals and private placements all done at 0.24 and 0.235 area.
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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....
Wyko
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Posted by Wyko > 2019-04-29 23:47 | Report Abuse
sabar ... kita harus sabar ....