True. Thats why you can see so many Hundred Millions queing to buy at 1 sen. But Strange enough, Fintec auto management ( non human ) still issue ESOS at 1 sen lately. What a JOKE?
FINTEC is now the CHEAPEST STOCK in the world. 1 sen per share. Just sell 1 lot any DOW share, you can buy ten of millions of Fintec Shares in Malaysia. So what are US investors waiting for? Golden Opportunity abound in Malaysia. Cheap stocks every where in our country Malaysia.
YES. Sell all AT shareholdings at 3.5 sen and buy back own Fintec shares at 1.5 sen - A GOOD MOVE. At least you are helping your own Fintec shares. I agree. If buy other than Fintec, I do not agree. Hope Fintec directors are doing the correct move.
Fintec acquired AT Glove at 4 sen in May 2020 but sold recently between 3-4 sen.. Lost 1 sen OK mah. But must help to buy back or spring up own Fintec shares now at 1.5 sen. Current situation strategy OK to me coz market now is so down while Fintec is now at its lowest. There are currently bidders for more than 550 millions shares daily at 1 sen and Fintec buying back its shares for 1.5 sen is reasonable as its NTA is now at 0.087 sen a share as reported at the MalaysiaStock.Biz site.
From my investigation, Fintec vide AsiaBio acquired 421.600 millions AT Glove shares on 18 May 2020 vide a Right Issue of 4.0 sen.according to the 2020 AT Annual Report.
Congratulations to YM Tengku Ahmad Badli Shah for being appointed as the Agro Bank president recently and that's the reason why he has to let go his directorship in our Fintec Group lately. He may help FINTEC later on when his position as President of the Agrobank stabilizes later. My Heartiest Congratulations to YM Tengku Ahmad Badli Shah and wishing him well and every success in his new endeavour and a prestigious position. Bravo to him and to all us.
I went through all these, consolidation 3-1 and right issues 8sen. Averaged still 13-14 sen, very regret don’t wanted to cut lost when dropping below 10sen
Just unforfunate sato. The ESOS and PP have had to be exercised even when our market went southwards as it was a promise and commitment earlier. If the economy was good, Fintec ESOS and PP prices would follow the market prices of that day. So unfortunate. Sato. Sorry to hear your story.
Why Fintec was forced to offer ESOS now at 1 sen as it was a promise earlier, I believe. As you can see, there are so many buyers now waiting to buy at 1 sen. The amount of shares bidding at 1 sen is more than 550 millions today 21/1/2022.
@Musang King, why Fintec need to sell AT at losses to support Fintec share price? You didn't read Fintec quarterly report how much cash it have now? Another investment buy high sell low and you agree with Fintec BOD method of doing business? So issue more ESOS, SIS, PP at low price and keep buying high and selling low is a good investment in your mind?
Musang King Fintec acquired AT Glove at 4 sen in May 2020 but sold recently between 3-4 sen.. Lost 1 sen OK mah. But must help to buy back or spring up own Fintec shares now at 1.5 sen. Current situation strategy OK to me coz market now is so down while Fintec is now at its lowest. There are currently bidders for more than 550 millions shares daily at 1 sen and Fintec buying back its shares for 1.5 sen is reasonable as its NTA is now at 0.087 sen a share as reported at the MalaysiaStock.Biz site.
alan123. It is just my opinion. Fintec sold AT Glove away has its own decision we do not know. You are correct alan123. Fintec has a lot of cash surplus, why should Fintec sell away AT? Fintec does things always in secret and in a weird way. I concur with you alan123. Selling AT at 3 to 4 sen and buying back Fintec shares is just my own presumption. Just ignore my crazy opinion. Hahahaaa..
Hi Bro @Musang King and @alan123, disposal of warrants usually not reported. I have assume the followings:
Asiabio Capital Sdn. Bhd. hold 421,600,000 ATS shares as reported in ATS AR2021
RENOUNCEABLE RI..AT SYSTEMATIZATION BERHAD (''ATS''..) RM0.035 PER RIGHTS SHARE.. FREE DETACHABLE WARRANTS IN ATS (''WARRANTS C'') ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ORDINARY SHARES..
As at date of ATS AR2021, Asiabio Capital NOT listed in the top 30 major shareholders of AT-WC indicating already liquidated with huge profit..?
The math: Before RI, Asiabio Capital own 421,600,000÷6×2= 140,533,333 ATS shares which entitle to free warrants of 140,533,333÷2×3= 210,799,999 AT-WC Assume this free warrants sold of at 52w high equivalent of 210,799,999x0.17= RM35,835,999.83
If assume sold at 50%, could easily gain RM18mil..
Did Fintec make a loss investment? It is just a "guesstimate", quite true that Asiabio Capital had sold of RI free warrants of many counters. One example: "Article B11 - Status of corporate proposals a) On 2 December 2020, Asiabio Capital Sdn. Bhd. (“ABC”), a wholly-owned subsidiary of Fintec, has subscribed in aggregate 25.05% or 512,099,792 ICPS with 768,149,688 free detachable Warrants D of Focus Dynamics Group Berhad("the free detachable Warrants") for an aggregate sum of RM28.16 million in cash via the Rights Issue of ICPS with Warrants of Focus at an issue price of RM0.055 per ICPS. On 21 December 2020, ABC had disposed the free detachable Warrants for an aggregate sum of RM26.74 million in cash through open market.
Just sharing personal info; "NOT a buy, hold or sell" recommendation.
Wow, BLee. You have my applause for posting Fintec interest in AT Group in great details. Thank you very much indeed. For me I am just doing guessing work. Anyhow, I do believe Fintec is now at its lowest level. Anyone interested to buy Fintec now is sure to gain in a long term. I am booking my bid for 1 sen everyday but only managed to get 2 millions by chance a few weeks ago. Hope to get more if someone sells. Happy investing, everybody. Cheers if you have the holding power.
Details: 3) Subscription of rights shares and excess rights shares- 421,600,000 4) Disposal of shares in open market - 69,888,833
Assumption: Asiabio only owns 69,888,833 ATS shares and not as per my assumption earlier. The cost of 421,600,000 likely as per RI price of RM0.035 PER RIGHTS SHARE.
As item 4), the 421,600,000 excluding holdings of ATS shares before RI. It seems this is the modus operandi of Fintec group i.e. subscribe shares with free warrants, sell off everything after the issuance..
Its OK BLee. Actually we made a lot of assumptions for Fintec as these assumptions may be wrong . Its OK as we lack of feedback from Fintec Management. We are all buying into Fintec at our own risk. If only Fintec Directors are more open and transparent, we would be happier.
FINTEC continues to nurture a good relationship with our investors and consistently provides sufficient sustainability disclosures and generated economic growth to enable shareholders to prosper with the Company’s continuous improved revenue and profits. The new venture of the glove business will provide employment opportunities to the community in Chemor, Perak and business opportunities to the relevant industry players involved in construction of glove manufacturing facility that will enable to spur the economic growth despite the current downturn. Due to the Covid-19 pandemic, only hybrid Annual General Meeting with investors on the Company’s performance and prospect were held. The Board continues to implement the identified sustainability initiatives to ensure effective governance processes to drive key investment decisions, working capital and source for new business/investment opportunities.
Helo @Blee, before you even post I think you should get your data right. Even your calculation of AT-WC warrant is wrong. From what I can see. you using assumption to blind the fact and keep telling beuatiful story of FINTEC. If you cannot get the fact right, it is best you don't post anything misleading.
I will school you here based on the thing you posted here. 1) What you mean liquidate AT-WC with huge profit and no announcement in Bursa. Please check properly in Bursa website. the selling price is only 0.0350 and I don't even know how the hell you can come out with the selling price 0.170. Please check below announcement in Bursa. (c) On 11 June 2020, 12 June 2020, 15 June 2020, 18 June 2020, 19 June 2020, 23 June 2020, 24 June 2020 and 25 June 2020 disposed in aggregate 321,600,000 Warrants C of AT Systematization Berhad (“ATS”) for an aggregate sum of RM17,499,022.05 (“Disposal Proceeds”) in cash to the open market (hereinafter referred to as the “Disposal”). (Collectively referred to as the “Transactions”).
2) Your calculation on no. of free AT-WC warrant allocate to FINTEC from RI of AT is totally wrong for every 4 RI subscribe free 3 warrants. I don't even know how you can come out this number 210,799,999 AT-WC. The actual warrant allocate to FINTEC is 421,600,000 / 4 * 3 = 321,600,000
3) Initial FINTEC investment in AT is 69,888,833 which is before the AT RI. Go and dig how much FINTEC have invested in those shares. Does FINTEC still making profit now?
BLee Hi Bro @Musang King and @alan123, disposal of warrants usually not reported. I have assume the followings:
Asiabio Capital Sdn. Bhd. hold 421,600,000 ATS shares as reported in ATS AR2021
RENOUNCEABLE RI..AT SYSTEMATIZATION BERHAD (''ATS''..) RM0.035 PER RIGHTS SHARE.. FREE DETACHABLE WARRANTS IN ATS (''WARRANTS C'') ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ORDINARY SHARES..
As at date of ATS AR2021, Asiabio Capital NOT listed in the top 30 major shareholders of AT-WC indicating already liquidated with huge profit..?
The math: Before RI, Asiabio Capital own 421,600,000÷6×2= 140,533,333 ATS shares which entitle to free warrants of 140,533,333÷2×3= 210,799,999 AT-WC Assume this free warrants sold of at 52w high equivalent of 210,799,999x0.17= RM35,835,999.83
If assume sold at 50%, could easily gain RM18mil..
Did Fintec make a loss investment? It is just a "guesstimate", quite true that Asiabio Capital had sold of RI free warrants of many counters. One example: "Article B11 - Status of corporate proposals a) On 2 December 2020, Asiabio Capital Sdn. Bhd. (“ABC”), a wholly-owned subsidiary of Fintec, has subscribed in aggregate 25.05% or 512,099,792 ICPS with 768,149,688 free detachable Warrants D of Focus Dynamics Group Berhad("the free detachable Warrants") for an aggregate sum of RM28.16 million in cash via the Rights Issue of ICPS with Warrants of Focus at an issue price of RM0.055 per ICPS. On 21 December 2020, ABC had disposed the free detachable Warrants for an aggregate sum of RM26.74 million in cash through open market.
Just sharing personal info; "NOT a buy, hold or sell" recommendation.
Happy trading and TradeAtYourOwnRisk 22/01/2022 3:13 PM
@BLee, I don't know what are you talking about. Profit realized from warrant you take into consideration but you close the eyes on the paper loss it is sitting with the mother share. I really don't know what investment method you using. This is as good as making accounting fraud to bluff ppl telling ppl company making profit without considering the paper loss it is sitting.
BLee Hi Bro @Musang King and @alan123, disposal of warrants usually not reported. I have assume the followings:
Asiabio Capital Sdn. Bhd. hold 421,600,000 ATS shares as reported in ATS AR2021
RENOUNCEABLE RI..AT SYSTEMATIZATION BERHAD (''ATS''..) RM0.035 PER RIGHTS SHARE.. FREE DETACHABLE WARRANTS IN ATS (''WARRANTS C'') ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ORDINARY SHARES..
As at date of ATS AR2021, Asiabio Capital NOT listed in the top 30 major shareholders of AT-WC indicating already liquidated with huge profit..?
The math: Before RI, Asiabio Capital own 421,600,000÷6×2= 140,533,333 ATS shares which entitle to free warrants of 140,533,333÷2×3= 210,799,999 AT-WC Assume this free warrants sold of at 52w high equivalent of 210,799,999x0.17= RM35,835,999.83
If assume sold at 50%, could easily gain RM18mil..
Did Fintec make a loss investment? It is just a "guesstimate", quite true that Asiabio Capital had sold of RI free warrants of many counters. One example: "Article B11 - Status of corporate proposals a) On 2 December 2020, Asiabio Capital Sdn. Bhd. (“ABC”), a wholly-owned subsidiary of Fintec, has subscribed in aggregate 25.05% or 512,099,792 ICPS with 768,149,688 free detachable Warrants D of Focus Dynamics Group Berhad("the free detachable Warrants") for an aggregate sum of RM28.16 million in cash via the Rights Issue of ICPS with Warrants of Focus at an issue price of RM0.055 per ICPS. On 21 December 2020, ABC had disposed the free detachable Warrants for an aggregate sum of RM26.74 million in cash through open market.
Just sharing personal info; "NOT a buy, hold or sell" recommendation.
Happy trading and TradeAtYourOwnRisk 22/01/2022 3:13 PM
@alan123: Helo @Blee, before you even post I think you should get your data right. Even your calculation of AT-WC warrant is wrong. From what I can see. you using assumption to blind the fact and keep telling a beautiful story of FINTEC. If you cannot get the facts right, it is best you don't post anything misleading.
I will school you here based on the thing you posted here. 1) What you mean liquidate AT-WC with huge profit and no announcement in Bursa. Please check properly in Bursa website. the selling price is only 0.0350 and I don't even know how the hell you can come out with the selling price 0.170. Please check below announcement in Bursa. (c) On 11 June 2020, 12 June 2020, 15 June 2020, 18 June 2020, 19 June 2020, 23 June 2020, 24 June 2020 and 25 June 2020 disposed in aggregate 321,600,000 Warrants C of AT Systematization Berhad (“ATS”) for an aggregate sum of RM17,499,022.05 (“Disposal Proceeds”) in cash to the open market (hereinafter referred to as the “Disposal”). (Collectively referred to as the “Transactions”)
BLee: Hi @alan123, thanks for being a 'teacher' for a second. I did not post 'no' as I post 'disposal of warrants usually not reported' as you have ignored the word 'usually' and I also post 'personal info'.
I think you missed my correction on my latest post. There is a "sea of data"' in all those announcements. I definitely have missed some announcements as I only started to invest in Fintec at the price of 2sen and also Fintec-PA during the revision of conversion from 16sen to 11sen. Assumption is for the 'reader' to ponder and to correct; again thanks for the sharing of data; not on purpose to mislead.
The 0.17sen is the 52 weeks high price as at that time I do not have info on selling timeline and used 50%; my 'guesstimate' of RM18 mil vs the actual of RM17.499 mil is quite right. The average selling price of 17,499,022.05÷321,600,000= 0.054, and not 0.035.
@alan123: @BLee, I don't know what are you talking about. Profit realized from warrant you take into consideration but you close the eyes on the paper loss it is sitting with the mother share. I really don't know what investment method you using. This is as good as making accounting fraud to bluff ppl telling ppl company making profit without considering the paper loss it is sitting.
BLee: Hi @alan123, there are a lot of posts trying to depress Fintec share price so that 'newbies will cut-loss'. A lot of this posting 'ignore' the free warrants are part of the share exercises. I am NOT supporting free warrants, Private Placement, ESOS and/or SIS. I have written few articles to defence my investment, no other motive except
3. Sharing of info as in one of my articles. "Please see link for table on paper loss for few q-o-q.. Link: https://klse.i3investor.com/blogs/BLee_Fintec/2021-12-26-story-h1596407088-Fintec_Few_good_questions_for_clarification.jsp Table No.1: Summary of stocks trading from March to December 2021 -The trends vs market conditions? -Cost is almost the same as book value and market value after Focus D price fall, paper gain/loss back to holding cost. NOT 50-60sen as speculated. -This tabulation can roughly predict next QR profit/loss?"
I disagree 'This is as good as making accounting fraud to bluff ppl telling ppl company making profit without considering the paper loss it is sitting' from the paper gain/loss data tabulated.
Finally, the manufacturing plant for Nitrile examination gloves in Chemor, Perak has reached 90% completion and is also currently in the mid of test run on the lines to assure that all formers operate smoothly with the framing structures, where latex, acid and alkaline will involve before the official commissioning start of all lines. #FintecGlobal #FintecGlove As reported in their Facebook dated 15-Jan-2022.
@alan123: I will school you here based on the thing you posted here. 1) What you mean liquidate AT-WC with huge profit and no announcement in Bursa. Please check properly in Bursa website. the selling price is only 0.0350 and I don't even know how the hell you can come out with the selling price 0.170. Please check below announcement in Bursa.
BLee: This statement was answered earlier, thanks again for the schooling part. Doubt No.1: Is disposing of free warrants for RM17,499,022.05 considered a huge profit?
@alan123: (c) On 11 June 2020, 12 June 2020, 15 June 2020, 18 June 2020, 19 June 2020, 23 June 2020, 24 June 2020 and 25 June 2020 disposed in aggregate 321,600,000 Warrants C of AT Systematization Berhad (“ATS”) for an aggregate sum of RM17,499,022.05 (“Disposal Proceeds”) in cash to the open market (hereinafter referred to as the “Disposal”). (Collectively referred to as the “Transactions”).
BLee: Thanks for the timeline for Asiabio disposing of the "Subscription of rights shares and excess rights shares- 421,600,000" free warrants AT-WC. Assume the "RI of 421,600,000" paid for at 421,600,000×0.035= RM14,756,000; the disposal of RM17,499,022-RM14,756,000 will get a net gain of cash RM2,743,022. Doubt No.2: How is this "excess RI" being offered compared to 69,888,833 shares before RI? So much under subscribe or gentle agreement? Dilution for minority shareholders?
@alan123: 2) Your calculation on no. of free AT-WC warrant allocate to FINTEC from RI of AT is totally wrong for every 4 RI subscribe free 3 warrants. I don't even know how you can come out this number 210,799,999 AT-WC. The actual warrant allocate to FINTEC is 421,600,000 / 4 * 3 = 321,600,000
BLee: As explained earlier on the correction for "Subscription of rights shares and excess rights shares- 421,600,000", the formula is for every 2 shares held will allocate "4 RI subscribe free 3 warrants" without realizing the huge excess Rights; reverse calculation. Please note the wording "Subscription of rights shares" meaning total shareholding after RI assume to be 421,600,000+69,888,833= 491,488,833. Doubt No.3:The original 69,888,833 was sold after RI on 19.05.2020 at what price?; with losses or gain?
@alan123: 3) Initial FINTEC investment in AT is 69,888,833 which is before the AT RI. Go and dig how much FINTEC have invested in those shares. Does FINTEC still making profit now?
BLee: As in Doubt No.3, "Does FINTEC still making profit now?", your guess as good as mine?(Doubt No.4?)
I apologized to those not interested to read my long posting/clarification/defending..I will stop here. Happy trading and TradeAtYourOwnRisk
No, Pls continue writing. You certainly gave me a lot of insights. Thank you both BLee and alan123 in advance. Please do not stop sharing. We may make some mistakes sometimes. We are all humans. Not God. I applause both of you. Please do not stop sharing. TQVM.
Hi Bro @Musang King, I mean stop on this particular topic only as if continued will seems like a long argument..I am quite interested how to gain by subscribing excess shares, just like what Fintec done. Only I don't have the right connection to get so much excess.. TQ
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Posted by Musang King > 2022-01-19 14:38 | Report Abuse
True. Thats why you can see so many Hundred Millions queing to buy at 1 sen. But Strange enough, Fintec auto management ( non human ) still issue ESOS at 1 sen lately. What a JOKE?