Posted by longvalley > 2017-08-24 06:41 | Report Abuse

Opp sorry... i mis tnteprete abt the article....ophir rig demobilisation....!

Posted by longvalley > 2017-08-26 08:18 | Report Abuse

Any secular to syer holder abt the consolodation.........

Posted by Daniel Lau > 2017-08-28 05:56 | Report Abuse

Sgb hold 60 % share of scomies, as minority i dont think so we can go over it..but think from another way if sgb from time ago already start plan for the merge, then its reasonable why their price remain low until now...

Posted by freeman > 2017-08-28 11:44 | Report Abuse

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=81559&name=EA_GA_ATTACHMENTS




APPROVAL REQUIRED

approval of the Scheme Shareholders of the Proposed Mergers by way of a poll by at least a majority in number of the Scheme Shareholders and 75% in value of the total Scheme Shares present and voting either in person or by proxy at the court convened meetings of Scomi Energy and Scomi Engineering to be convened for the purpose of the Proposed Mergers (“Court Convened Meetings”), provided that the number of votes cast against the resolution to approve the Proposed Mergers at the Court Convened Meetings are not more than 10% of the votes attaching to all the Scheme Shares held by the non-interested Scheme Shareholders;

Posted by freeman > 2017-08-28 11:45 | Report Abuse

if more than 10% shareholder vote againts then the motion will fail

Posted by freeman > 2017-08-28 12:06 | Report Abuse

2.3.1 Proposed Merger of Scomi Energy
The Proposed Merger of Scomi Energy shall involve the acquisition by Scomi and the transfer of all the ordinary shares in Scomi Energy not already owned by Scomi (“Scomi Energy Scheme Shares”) from all the shareholders of Scomi Energy other than Scomi (“Scomi Energy Scheme Shareholders”). The Scomi Energy Scheme Shares shall include the shares in Scomi Energy held by the persons acting in concert with Scomi (“PACs”).

Posted by freeman > 2017-08-28 12:47 | Report Abuse

appproval required

1. a majority in number of the Scheme Shareholders AND 75% in value of the total Scheme Shares present - (majority of Scheme Shareholders OF 34% of shares not held by SGB have to AGREE)

2. provided, less than 10% from 34% of shares not held by SGB vote AGAINTS
10% X 34% = WE NEED ONLY 3.4% TO VOTE AGAINTS

so seems that it is not so easy to get approval, this consolidation might not get approval

Posted by Daniel Lau > 2017-08-28 18:01 | Report Abuse

But can online do voting because based on air mail they approved dy i also nt yt rec the doc zzz

Posted by scomies > 2017-08-29 23:41 | Report Abuse

WE SHALL VOTE AGAINST THE DEAL. IT'S IN THE EXPENSE OF SCOMIES SHAREHOLDER. NOW, WE KNOW THAT THE REASON BEHIND OF THE DEPRESSED SHARE PRICE OF SCOMIES IS ARTIFICIAL. WHAT IS THE RATIONAL OF THIS MERGER? IT'S TO RESCUE THE INDEBTEDNESS OF SCOMI ENGINEERING TO PREVENT FROM FALLING INTO PN17!

Posted by freeman > 2017-08-30 03:07 | Report Abuse

Hope u all do not take yr right to vote lightly.. when bod called for egm, please come to egm and votes
Because , even how many small is yr shareholding, yr attendance will be counted in sum of member attended to determine majority of members, attend and votes regardless quantity of yr sharrholding

Posted by Daniel Lau > 2017-08-30 11:57 | Report Abuse

If now sgb want to do the merger, that only mean that scomies now may have income is coming in...they try to use scomies income for rescuing scomien...its time to use our right as minority shareholder to vote against the deal...we can know their movement means that income is coming into scomies they want to eat the share and depressed our share price

Posted by winmal > 2017-09-01 17:12 | Report Abuse

Just more than 10% minority shareholders against the deal, to stop the merger. Share price will rebound

Posted by winmal > 2017-09-06 12:17 | Report Abuse

their planning to merger in order to raise funds through assets sell from scomies, in other words scomies money will be using to fund other subsidiary,

Posted by winmal > 2017-09-06 12:28 | Report Abuse

By way of creating new Group with reasons of streamline effective structure, save costs & diversified to other business segment. tarnish Oil & Gas business prospect to divert our attention that the merger is for the sake of create shareholders value. raising funds of US 50 Million after new Group through disposal assets from Scomies's assets.

Posted by winmal > 2017-09-06 12:32 | Report Abuse

deprive scomies assets in the wake of New scomi Group. Minority shareholders are paying costly price for othe benefit

Posted by winmal > 2017-09-06 12:44 | Report Abuse

If Major Shareholders is planning to diverting to other business from O&G business why don't dispose your stake to other parties whose interested.

Posted by Daniel Lau > 2017-09-07 14:46 | Report Abuse

Cut loss fr this counter the future is uncertain

Posted by winmal > 2017-09-07 16:29 | Report Abuse

Oil is a commodity laggard, other like Steel & Aluminium have been performing well & stock have up more than 200%

Posted by JaJa7777 > 2017-09-12 18:43 | Report Abuse

Whats happening with the FPSO??

Posted by longvalley > 2017-09-14 22:38 | Report Abuse

JaJa....pls Search to Octanex u can get the answer...............!!!

Posted by winmal > 2017-09-15 12:35 | Report Abuse

time to revisit this counter, better entry then scomi group 0.15, scomies only 0.115

Posted by luckyman > 2017-09-15 20:34 | Report Abuse

http://klse.i3investor.com/blogs/stockswizard/132267.jsp

Posted by djibaok > 2017-09-17 20:36 | Report Abuse

crude brent USD 55 1 tong now

Posted by averose > 2017-09-18 16:54 | Report Abuse

wau.

Posted by freeman > 2017-09-19 11:47 | Report Abuse

please hold.. in relation to consol n merger
scomies share will track sgb share
but will not surpass sgb share price due to term of consol n merger

Posted by HollandVillage > 2017-09-19 11:52 | Report Abuse

The merging shares will pushes up the price?

Posted by freeman > 2017-09-19 11:55 | Report Abuse

hope the rally will continue for 3 more days

Posted by freeman > 2017-09-19 11:57 | Report Abuse

it is all about perception.. the merger give perception it is good for SGB
Scomies will just track along
when the counter hit top 10 active stock
it will attract more speculators..
hope goreng will continue
waiting for ophir news to goreng further

Posted by freeman > 2017-09-19 12:40 | Report Abuse

at merger SCOMIES share will lost 33% compare to SGB share of 15%
thus SGB share will have 33-15=18% premium over SCOMIES share price
then SCOMIES share will track SGB share at discount around 18% of SGB

SCOMIES = SGB / 1.18

Unless the merger failed.. SCOMIES share will definitely surpass SGB

which share u want to bet?

any opinion on the calculation?

Posted by HollandVillage > 2017-09-19 13:30 | Report Abuse

Thanks info , freeman..

Posted by freeman > 2017-09-19 14:05 | Report Abuse

correction
if the merger failed.. SCOMIES share will definitely surpass SGB

Posted by freeman > 2017-09-19 14:56 | Report Abuse

http://www.4-traders.com/OCTANEX-LTD-10357005/news/OCTANEX-WEEKLY-DRILLING-PROGRESS-REPORT-OPHIR-DRILLING-CAMPAIGN-24581445/

Posted by winmal > 2017-09-20 17:27 | Report Abuse

if oil break USD60... good profit for Ophir marginal field

Posted by scomies > 2017-09-20 18:21 | Report Abuse

We refer to our announcements dated 21 August 2017, 15 September 2017 and 18 September 2017 ("Announcements"). Words and expressions defined in the announcement shall have the same meaning as the words and expressions defined or used in the Announcements.

On behalf of the Board of Scomi Energy, MIDF Investment and Astramina wish to clarify that MIDF Investment is the Principal Adviser and Astramina is the Financial Adviser for the Proposed Merger.

Further, on even date, MIDF Investment had on behalf of the Company submitted an application to the SC for an extension of time in relation to the Proposed Merger for the despatch of the Explanatory Statement to shareholders pursuant to Note (1) to the Paragraphs 11.02, 11.03 and 11.04 of Rule 11, Part C of the Rules and Paragraph 5 of Schedule 3 of the Rules.

This announcement is dated 20 September 201

Posted by JaJa7777 > 2017-09-21 12:02 | Report Abuse

Well i'm glad thats cleared up - makes much more sense now.....

Posted by scomies > 2017-09-21 17:11 | Report Abuse

To recap:

http://www.thestar.com.my/business/business-news/2017/01/14/scomi-energy-set-for-ophir-boost/

Posted by scomies > 2017-09-21 17:12 | Report Abuse

For Ophir Production, the well drilling campaign is expected to be completed by
August/September 2017. First oil is expected by fourth quarter of calendar year 2017.

WE ARE VERY NEAR TO THE GOLDMINE!

Posted by longvalley > 2017-09-21 22:00 | Report Abuse

Scomies r u sure abt the success of ophir....................!!!!!!!!!?

Posted by winmal > 2017-09-22 08:29 | Report Abuse

Ophir marginal oil field is only oil field still viable as there managed to lower their production cost to USD30 but other marginal oil field awarded to Dialog & SKPETROL had mutually terminated by Petronas.

Posted by luckyman > 2017-09-26 08:45 | Report Abuse

Brent oil has shut up to USD 59 per barrel now

Posted by luckyman > 2017-10-03 21:13 | Report Abuse

https://www.youtube.com/watch?v=O6SPrGCfmiA

Posted by asianmarket > 2017-10-14 14:48 | Report Abuse

say no to merger

Posted by winmal > 2017-10-15 17:34 | Report Abuse

Orphir marginal oil field eventually will benefit from high oil prices like other oil companies

Posted by snwong13 > 2017-10-15 19:07 | Report Abuse

.
http://www.marketwatch.com/story/oil-prices-surge-on-strong-chinese-crude-imports-and-iran-uncertainty-2017-10-13

Posted by freeman > 2017-10-19 10:38 | Report Abuse

http://www.offshore-technology.com/projects/ophir-oil-field-development

Posted by Rachel Tan > 2017-10-19 21:00 | Report Abuse

http://www.upstreamonline.com/live/1364990/mtc-ledang-arrives-at-ophir-field

Posted by Rachel Tan > 2017-10-19 21:01 | Report Abuse

Oil production coming

Posted by Rachel Tan > 2017-10-21 17:45 | Report Abuse

Finally FSPO installed at Ophir field on 16 Oct 2017

Posted by Rachel Tan > 2017-10-21 17:46 | Report Abuse

FPSO

Posted by Rachel Tan > 2017-10-21 17:54 | Report Abuse

Oil production coming next week