KC Loh thinks that ppl buying KBUNAI are chasing the wind of hope again! 1) Doesn't he knows who is the directors are? 2) Do he knowa that one of the directors owns and operates a casinos in Cambodia and the same hope to put the at the resort in Sabah to generates tourists and casinos duit? Only obstacles....ELECTION round the corner. Wait till election is over....see who wins????
Active volume on yesterday with total trxn done at 50.61 million shares out of its total shares issue of 2,030 million; that means 2.5% total shares traded. With its intention to issue right issue, its par value needs to be reduced from 50 cents to 10 cents,ie cancellation 40 cents from its par value. Pls read http://www.bursamalaysia.com/market/listed-companies/company-announcements/1141229
On behalf of the Board of Directors of KCB ("Board"), OSK Investment Bank Berhad wishes to announce that the Company proposes to undertake the following proposals:- i. A capital reconstruction involving the cancellation of RM0.40 of the par value of every existing ordinary share of RM0.50 each in the issued and paid-up share capital of KCB pursuant to Section 64(1) of the Companies Act, 1965 and the credit arising therefrom to be offset against the accumulated losses of KCB; ii. A renounceable rights issue of up to 507,514,920 Rights Shares on the basis of one (1) Rights Share for every four (4) existing KCB Shares held, together with up to 1,015,029,840 Warrants on the basis of two (2) Warrants for every one (1) Right Share subscribed for, based on an entitlement date to be determined later after the Proposed Capital Reconstruction; iii. A settlement of debt owing to TSCLK via the issuance of Settlement Shares; iv. A settlement of debt owing to FACBII via the issuance of Settlement Shares;
v. An exemption under Paragraph 16.1 of Practice Note 9 of the Malaysian Code on Take-Overs and Mergers, 2010 to TSCLK and the parties acting in concert with him from the obligation to undertake a mandatory take-over offer for all the remaining KCB Shares and Warrants not already held by them pursuant to the Proposed Rights Issues with Warrants, the Proposed Capitalisation to TSCLK and the Proposed Capitalisation to FACBII; and vi. Amendments to the Memorandum and Articles of Association of KCB.
May see a technical rebound after positive proposal which its renounceable rights issue may take place after its capital par value cancellation of 40 cents.
Down trend. Beware of this counter.Cash flow very bad.Even though just announced good quarter result but high in debt. If retructure plan fails, may be another "saag" in the making.
buy..im still holding at 16.5 85lots...and already add 12.0 170lots to less average and before profits soon...will go uptrend..even still of high debt rolling...but still value of buying..
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....
KC Loh
13,701 posts
Posted by KC Loh > 2012-11-22 11:27 | Report Abuse
what news does KBUNAI hold? if not, i am afraid many are chasing the wind of hope again! :)