Posted by MZM2511 > 2021-08-30 19:37 | Report Abuse

Share capital 618,968, 000
Reserves 61,803,000
Retained earnings 86,720,000

Posted by jollywin > 2021-08-30 19:40 | Report Abuse

Can request divident ?? Haha

Posted by UncleFollower > 2021-08-30 20:29 | Report Abuse

As I always say...this company has a good record in recovering bad debts

UncleFollower 45.62M is Cash + FD

Inventories is 35M (mainly limestones and raw materials) excluding trade receivables of 12.35M and other receivables 27.7M. If u look at past records they have a good record of recovery. Hardly any bad debt - and if there were, subseuqent quarters showed recovery of such bad debts

Above is based on cut off date 31/3. Since then PP and ESOS raised 25M, SBB used 10.5M, so net cash + 14.5M

So total cash including receivables is 45.6M + 12.3M + 27.7M + 14.5M

Investment properties are real and carried at book value. Look through the reports. Theres 612M here.

Company yet to have meaningful loans.

Last year after MCO secured a 50M loan. As I said before banks granting loan is a show of strength. Banks vet thru showing us another layer of scrutiny

Bornoil's book value is real. These are not goodwill etc. They are tangible assets.
13/08/2021 5:33 PM

Posted by UncleFollower > 2021-08-30 20:31 | Report Abuse

Amidst pandemic and uncertainties, Malaysians turn to savouring Sabah’s ‘secret sauce’ Sabasco Published 3 Aug 2021, 2:23 pm

When the Borneo Oil Berhad (BornOil)-Sugarbun Borneo Asian Food group launched the Sabasco ‘secret sauce’ in late July 2021, the intent was to bring a unique taste of Sabah for the whole of Malaysia – and the world eventually – to enjoy.

YB Datuk Seri Panglima Dr. Jeffrey Gapari Kitingan, the Deputy Chief Minister of Agriculture and Fisheries of Sabah, had launched Sabasco at the virtual event. He had also expressed his hope that the product would eventually become a ‘worldwide sensation’ as it is in line with the Sabah Maju Jaya Development plan to expand local agriculture globally.

Now more than two months later, Sabasco has certainly made its impact throughout Malaysia. The ‘secret ingredient’ of Sabasco is the ‘Momporok’ chilli unique to Sabah.

Late last week, Former Deputy Minister of Women, Family and Community Development and Member of Parliament for Segambut YB Hannah Yeoh posted about Sabasco on Facebook, describing the taste as ‘sedap but pedas’.

YB Hannah Yeoh added that she was adding Sabasco to fish nuggets and that she preferred the sweet and spicy version better. (Note that there’s no arrangement between the Sabasco team and YB Hannah Yeoh. The above Facebook post reproduced in good faith.)

From the Facebook post, it seems that Sabasco – and certainly YB Hannah Yeoh – certainly have their loyal followings. (extract of comments below.)

A few weeks back, Malaysian professional golfer Kelly Tan, who competes on the LPGA Tour, was also pictured happily with the two versions (original and sweet and spicy) of Sabasco sauce bottles in hand.

Kelly’s first professional win came at the 2019 Florida's Natural Charity Classic on the Symetra Tour.

So what is it about Sabasco that makes the sauce so special?

For one, the Momporok chilli is so-called because, in the Dusun language, it means the ‘bulbul’ bird’s chilli.

According to the Dusun tribe, the spread of these chillies was assisted by bulbul birds, which are attracted to the chillies when they’re ripe-red. They eat them and disperse the seeds all over their region of residence, and over time, the chillies in the area develop a singular set of characteristics, aroma and taste.

BornOil Executive Director Joseph Ambrose Lee said that, in Sabah, the Momporok chilli sauce is always placed at the centre of the table in every coffee shop.

“What’s special about the Sabasco version of Sabah’s beloved Momporok chilli sauce, however, is its origins,” he said.

A town on the East Coast of Sabah, Kunak, has a geographical makeup of volcanic soils rich in nutrients and the resident ‘bulbul’ birds.

The chilli thrives in Kunak, and its aroma and spice are intensely concentrated and distinctive. Over the decades, this breed of Momporok chilli in Kunak has been cultivated by local micro-farmers who stick to growing only this breed.

“In Kunak, the (chilli) fruits are allowed more time to mature with minimal intervention to spread their growth. Due to this, the result is a much more concentrated fruit. Tiny, red and upright; it is powerful in its spice and fragrance. Its uniqueness surpasses mass-planted chillies in adjacent regions. Each chilli fruit is hand-selected to ensure freshness and quality,” Datuk Ambrose explained.

He added that, through the production of Sabasco, SugarBun hopes to share the Momporok chilli’s story, support the Kunak farming industry, create local jobs, and bring ‘growing’ back closer to nature.

“Sabasco is grown, nurtured, harvested, prepared, and bottled locally,” said Datuk Ambrose.

“This is a chilli sauce close to our hearts. This is the chilli we grew up eating. This is the chilli for our homes, our friends, and family. And now, we’re bringing it to the rest of Malaysia – and the world.”

East Malaysians will find Sugarbun a familiar name. The chain established itself in Kuching, Sarawak back in the early 80s as a bakery and ice creamery. It had also branched out to selling burgers, broasted chicken and popcorn, establishing itself as a cinema concessionaire.

Today, other than its signature broasted chicken and fish burgers, Sugarbun’s outlets also offer Sarawak laksa, Sabah giant garoupa fish meehoon soup, various other claypot dishes, pizza, and of course, to top them all off, Sabasco chilli sauce.

Sabasco Chilli Sauce comes in both ‘original’ and ‘sweet and spicy’ flavours, and can be bought online from www.sabasco.com or from Shopee, and is available at all Sugarbun, Borneo Asian Food, and Broasted outlets nationwide, as well as Pezzo outlets in East Malaysia.

Wholesalers are welcome to make enquiries by calling +6016-830-0016 or emailing market-kch@sugarbun.com.

https://www.malaysiakini.com/announcement/585664

Posted by kuaTAKtahu > 2021-08-30 21:34 | Report Abuse

Buy Buy Buy Buy

Posted by mhanaS > 2021-08-31 04:11 | Report Abuse

Not really convinced. I'll wait till the candlestick says otherwise.

Posted by wallstreetrookie > 2021-08-31 06:58 | Report Abuse

This stock is going to the moon. My only high conviction penny stock play that is not related to syndicates and pump and dump groups.

Posted by wallstreetrookie > 2021-08-31 06:58 | Report Abuse

Expect at least 1000% gains from Borneo Oil

Posted by BE_GREEEEEDY > 2021-08-31 09:28 | Report Abuse

Remember >> Sell on News , Buy on rumours
be careful trap .....many want to sell too

Posted by MrWinMoney > 2021-08-31 14:33 | Report Abuse

@mhanaS indeed, Bornoil had multiple good news, but the share price still remain as wht it was for months....will see what will it be on Weds...

Posted by MrWinMoney > 2021-08-31 14:34 | Report Abuse

but tbh, i was shocked regarding the quarter result for a little.

Posted by MZM2511 > 2021-08-31 14:54 | Report Abuse

@MrWinMoney.

It's not merely the quarterly result as it's the 4QR 2021 result.

The FY 2021 result is a positive number. Net profit around RM 28 mil for financial year 2021.

Posted by lehubeng > 2021-08-31 15:01 | Report Abuse

flying soon.... hold tight.... no sell.....

Posted by bumipearl > 2021-08-31 15:23 | Report Abuse

Lu on Monday

Posted by whistlebower99 > 2021-08-31 15:44 | Report Abuse

MZM,

Revenue 15,817
Cost of sales (13,850)
Gross profit 1,967
Other income 48,024
Operating expenses (14,367)
Profit from operations 35,624
Finance costs (213)
Profit before taxation 35,411

If without the "Other income", there will be a LOSS of RM12,613,000

Can you explain in more details on how the accounting works?

Losses turned into profit.

Time to goreng up the stock price?

Posted by MZM2511 > 2021-08-31 16:12 | Report Abuse

@wistlebower99.
The fact is the naysayer forever be naysayer. He He

Just look at the announcement: Red it carefully.

Source: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3188999


Or if you hesitate to read it, just use you "buluh/buah kelapa" as your miracle mirror to guess what happen to the P&L account of Bornoil.

You can do what you did before, using those miracles to predict that "all the big NOSH company will be doing a consolidation exercises".

--------------
I'm an accountancy graduate. I can surely explain to your question about "how the accounting works". But, I can read your intention here!!!!! Just say it directly....

By the way, do you know that the "other income" thing also earned from the investment done by the company before. Therefore, the profit earned for 3QR 2021 and FY 2021 are earned from the company operations and investment.

Posted by whistlebower99 > 2021-08-31 16:31 | Report Abuse

Can you point me to the explanation for "Other income"
Or is it suppose to be a hidden item that only an accountancy graduate can figure out?

Posted by MZM2511 > 2021-08-31 16:55 | Report Abuse

@whistlebower99.
I have posted it @ my earlier posting in this thread.

YOU HAVE TO READ IT, IF NOT THE NOTES GIVEN IN 4QR 2021 IS JUST LIKE A THRASH.

-------------

MZM2511 Unusual Items
During the quarter under review, the Company had on 10 May 2021 announced that Borneo
Energy Sdn Bhd, its indirect wholly-owned subsidiary, had entered into a Sale and Purchase
Agreement with Gold Billion Global Limited (BVI Company No. 1759774), a wholly-owned
subsidiary of Verde Resources Inc., a Nevada USA corporation listed under OTCQB for the
disposal of Technology Assets and Intellectual Property Rights for a total consideration of USD5
million to be fully settled by way of allotment of shares in Verde Resources Inc. The shares in
Verde Resources Inc. had been reflected as an investment in quoted securities and fair value
through profit and loss accordingly in the quarter under review
30/08/2021 7:32 PM


MZM2511 @todak_ensem

The Group reported a profit before tax of RM35.41 million compared to a loss before tax of
RM3.61 million mainly due to the fair value gain on investment in quoted securities of RM26.46
million, reversal of impairment loss of RM18.63 million and disposal of business assets of
RM1.91 million
30/08/2021 7:34 PM

Posted by Valgrovest > 2021-08-31 17:37 | Report Abuse

I couldn't agree with MZM2511 more. Please everyone of us who are shareholders and have vested interest in the company, spend a bit of time and read through the latest QR in details. I did my part already the moment the results were released in Bursa. Lets try to understand the actual financial position of the company and the future prospects that are expected to drive the share price up. We all wish the price to rebound strongly and goes up after so many years of patience. In layman terms, I think the company is now much more stronger financially - having turned around and achieved good profit, having a number of established businesses, net cash position (i.e. total cash - borrowings = positive cash or no net borrowings or zero geared). The other positive factors are the willingness of a bank to granted them RM50m credit facilities recently and the involvement of Macquarie in the PP exercise.

Posted by MZM2511 > 2021-08-31 17:37 | Report Abuse

@whistlebower99.

1. Unusual item - @ Note A5 on page 11.

2. The Group reported a profit before tax of RM35.41 ... - @ Note B2 on page 17.

------------------------------

You are not so keen to read the financial statements and its notes fully.

Posted by MZM2511 > 2021-08-31 17:45 | Report Abuse

whistlebower99 Are you recommending a buy? What is is your TP?
---------------
I'm not qualified enough to do sell or buy recommendations. Just to share the true picture of the company.

I am holding a small amount of shares of Bornoil. I propose to add some and one of the reason is because of this 4QR 2021 development.

Posted by Valgrovest > 2021-08-31 18:16 | Report Abuse

(b) Proposed subscription of up to 1,205,827,550 new ordinary shares in Bornoil ("Bornoil
share(s)" or "Share(s)") by Macquarie Bank Limited ("Proposed Subscription")

On 25 January 2021, the ordinary resolution on the Proposed Subscription as prescribed in
the Notice of the Extraordinary General Meeting ("EGM") of the Company dated 08 January
2021 was duly passed and approved by the shareholders of the Company by way of poll via
remote participation and voting at the EGM of the Company held on 25 January 2021.

As at the date of this report, a total of 915,000,000 Bornoil Shares had been issued pursuant
to the Proposed Subscription at an issue price ranging from RM0.0250 to RM0.0400 per
Bornoil Share. As at to-date, a total of fifty-five (55) tranches had been completed, and the
Company has raised total proceeds of RM29.03 million from the Proposed Subscription. The
Proposed Subscription is still ongoing.

Hi guys, I just like to share my observation on the PP subscription by Macquarie. Of the 1.205bil or 20% of Bornoil capital, Macquarie has already subscribed 915mil or about 75% of the total amount and this roughly represents about 15 % of Bornoil capital. The fact that there has been no announcement of major shareholder acquisition of 5 % or more may indicate that Macquarie had probably sold most of the PP they subscribed. Not sure whether this is a good sign or bad sign. However in the event of share price uptrend in the coming future (potentially arising from the good latest QR), there may not be substantial selling pressure from Macquarie if they are holding only small amount of shares. Just my 2 sen view.

Posted by FarmbesFlyer > 2021-08-31 22:06 | Report Abuse

Buy more!!

Posted by BE_GREEEEEDY > 2021-09-01 07:13 | Report Abuse

Remember >> Sell on News , Buy on rumours
be careful trap .....many want to sell too

Posted by krish52 > 2021-09-01 07:37 | Report Abuse

is it a trap or blessing. the investors yet know for sure.

Posted by 651158 > 2021-09-01 07:49 | Report Abuse

See today market price up or down

Posted by BE_GREEEEEDY > 2021-09-01 08:32 | Report Abuse

boo liao - .trap liao

Posted by Valgrovest > 2021-09-01 09:02 | Report Abuse

Wooooo.....uptrending !

Posted by wallstreetrookie > 2021-09-01 09:04 | Report Abuse

Boom

Posted by SincereStock > 2021-09-01 09:04 | Report Abuse

entered at 9am t-price RM0.030, beautiful~!

Posted by wallstreetrookie > 2021-09-01 09:05 | Report Abuse

This time it is supported by good fundamentals.

Posted by SincereStock > 2021-09-01 09:06 | Report Abuse

RM0.03 for RM0.11 of tangible NTA ^_^

Posted by wallstreetrookie > 2021-09-01 09:07 | Report Abuse

This penny stock earns more money than some RM1 companies

Posted by SincereStock > 2021-09-01 09:22 | Report Abuse

the best penny stock that is supported by fundamental and future prospect at the moment~!

Posted by BE_GREEEEEDY > 2021-09-01 09:33 | Report Abuse

losing steam,,,,

Posted by SincereStock > 2021-09-01 09:40 | Report Abuse

be greedy~! nothing to lose if you entered at rm0.030, strong army of defence lined up there~!

Posted by Investor787 > 2021-09-01 09:42 | Report Abuse

As usual

Posted by dreamingpanda > 2021-09-01 10:01 | Report Abuse

What juz happened ? Quarter Rev 16mil and profit 36mil... how is that possible selling asset ? Been holding for many years hope this time is real..

Posted by SincereStock > 2021-09-01 10:23 | Report Abuse

of course the latest QR profit is one off thing, but remember NTA discount is real, future prospect is good, at least the company doesn't seems to be losing money in the near future

Rm0.030 or even RM0.035 is quite good entry point imo

Posted by WaggaWagga > 2021-09-01 10:30 | Report Abuse

The disposal of Technology Assets and Intellectual Property Rights by subsidiary Borneo Energy Sdn Bhd to Gold Billion Global Limited, a subsidiary of Verde Resources Inc. is USD 5 million, by way of allotment of shares in Verde Resources Inc. How does that translate into a fair value accounting profit of RM48 million under "other income" is not clearly explained.

Verde Resources is an OTC counter, trading at USD 0.0525 last I checked. It has an annual revenue of USD14k ( yes, 14 thousands). Based on Form 10-Q/A ending 3/31/21, it has total asset of $51,683 ( yes fifty one thousand), and shareholder DEFICIT of $(-2.545)million.

Fair value gain in accounting is not cold hard cash.

Posted by gghaha > 2021-09-01 10:35 | Report Abuse

fast in fast out lol.....not for long term yet for ur money safe....:)

Posted by MrWinMoney > 2021-09-01 11:14 | Report Abuse

Too ambitious...??!!

Posted by ZackMaz > 2021-09-01 11:18 | Report Abuse

I can see...this stock will go high. Will take time but for sure it can go up again to 0.08 in the near future

Posted by de_investor > 2021-09-01 11:19 | Report Abuse

wil LU soon..hahaaa....>1000% profitable

Posted by Sales > 2021-09-01 11:24 | Report Abuse

Don't disappointed us......

Posted by Sales > 2021-09-01 11:25 | Report Abuse

Everyone holding more than 5 years......wake up lioa?

Posted by FaridIsland > 2021-09-01 11:28 | Report Abuse

10 yrs oso got!...haa

Posted by SincereStock > 2021-09-01 11:28 | Report Abuse

don't underlook SUGARBUN~!

imagine when it strikes gold with it's recent new recipe and become one of the main fast food franchise in Malaysia market, not to mention possibly venture to international market

Posted by whistlebower99 > 2021-09-01 11:33 | Report Abuse

Extracted from latest QR

Revenue 15,817
Cost of sales (13,850)
Gross profit 1,967
Other income 48,024
Operating expenses (14,367)
Profit from operations 35,624
Finance costs (213)
Profit before taxation 35,411

If without the "Other income", there will be a LOSS of RM12,613,000

Can there be huge "Other Income" item to turn losses to profit in subsequent quarters?

Good luck to all long term holders.

Posted by Sales > 2021-09-01 11:44 | Report Abuse

Already becomes a long term holder. Hope don't disappointed all of us.