Daya Materials Berhad ("DMB" or "the Company") wishes to inform that pursuant to Paragraph 14.08(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the following Directors and Principal Officer of the Company, had given notice to the Company of their intention to deal in DMB's securities during the close period.
I would suggest not to listen to these goreng rumors. You think those people behind will goreng to let you make money ? Please follow some of the gurus like kcchongnz and otb if you want to make money from the market. If you listen to the goreng news, you will lose 8 out of 10 times.
Save as disclosed below, none of the directors, major shareholders or person connected with them have any interest, direct or indirect, in the Subscription.
Ir Shahul Hamid Bin Mohd Ismail, who is the Managing Director of Reach Energy, is also a director of Daya Maxflo Sdn Bhd, a subsidiary of DMB, and a director and shareholder of Daya Petroleum Ventures Sdn Bhd, which is also a subsidiary of DMB. Notwithstanding the above, the Subscription is not deemed a related party transaction pursuant to Paragraph 10.08(11)(n) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
The Proposed IPO is subject to the approval of the SC. Further information will be made available upon issuance of the Prospectus of Reach Energy.
Daya is buying over Reach Energy Sdn. Bhd. Plan to list Reach Energy as SPAC (if I read correctly le). Is this going to make Daya a goreng candidate? Any sifu can give comment?
This counter will be due for re-rating soon. It is the cheapest oil and gas counter now. Its share price may double or triple within the next 5 months if its quarterly results jumps significantly. Do not underestimate all O & G counters. :-)
daya is bearish...too many obstacle...buy novamsc pennier at 6.5 cents TP 60 cents!!! 900% profit not guaranteed but it will come along eventually ...the newest gem detected
Daya Materials; Not Rated; RM0.25 Fair Value: RM0.45; DAYA MK Up-and-coming O&G play Under-appreciated O&G proxy with solid fundamentals and strong growth prospects. Clear earnings visibility with its RM1.3bn order book to drive 3-year earnings CAGR of 37%. Newbuild Siem Daya 1 set to be the game changer, vying for huge contract in Norway. Fair value of RM0.45 based on 12x FY14F EPS.
up 10% already berdaya la but dont know can last long or not. BTW, if Sona up, chanches Daya will up as investor will take Sona as a benchmark, Daya planning for O&G SPAC soon
Daya will subscribe to (i) 533,334 RCPS of RM0.01 each at an issue price of RM4.50 in Reach Energy for a consideration of RM2.4m and acquire (ii) 12.44m ordinary shares of RM0.01 each together with 12.44m free detachable warrants at an issue price of RM0.45 per share in Reach Energy for a consideration of RM5.6m. Daya has fully paid for the RCPS subscription.
We are maintaining our target price of RM0.28 for now pending clarity in securing of new O&G contracts, particularly on the chartering of its first lay barge vessel (Siem Daya 1) in the North Seas (Norwegian). The delivery of the vessel is expected to be in Aug 2013. Our current valuation of Daya is based on a 12x multiple to FY13 EPS of 2.3 sen.
Daya Materials sees opportunities to acquire good assets through Reach Energy in concession or production sharing contract. The company is headed by its director Ir. Shahul Hamid Mohd Ismail who has extensive experience in the oil and gas industry. Assets that the Group is targeting have reserves in excess of 30 million barrels or daily production of 10,000 barrels per day. Nonetheless, the proposed IPO is subject to the approval of the SC. Further information will be made available upon issuance of the Prospectus of Reach Energy.
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....
Amir2550
345 posts
Posted by Amir2550 > 2013-07-24 13:29 | Report Abuse
@Junglestock , Do you mean dividend is paid or dividend will be paid?!