@chimchim Yes, I wonder why Scomies does not mention some sort of projected value or revenue to the deals. I understand 1st deal is just to formalise ongoing r&d of o&g chemical solutions which commenced since 2016. But the 2nd is for commercialization of a high performance water-based mud additive which they should have some projected revenue for it.
Mabel...you are on the right track! There's a long way to go yet. There is going to be a number of surges yet until the ultimatum, whether bad or good, must be accepted. There is a lot of peoples money in those shares, and people never part with their money without a fight. The issued shares are huge, so there is a LOT of people involved who will fight for their money. Including the new shareholder by default. He is a fighter!!!!
Remember Mabel, do anything you can to protect yourself from Greed. When greed manifests in you, its designed to deliver continual poor decisions and judgement calls, which you can only see in hindsight. Take the recent update on N's case. ' I would have to be stupid to accept money in my personal account from a MOF company'. That to me is actually the truth! N would said that to Jo, when Jo took an old trick perfected by M Miken in the 80's and bumped it up to a new level (bond issued by a country not just a company), and said, 'frick the govt contacts as a way to finance a massive election win (I dont want to work,or build something, or create wealth for employees and contribute to economic and social growth of the country), just issue govt backed paper. With the majority of the money, I will go to the US and buy some cool & high profile shit, just like the Singaporean investment arm have done and perfected long ago, and since the bonds are long term, our view is long term, and assets of high profile cool shit will always rise in price over time, we will sell, make most beautiful profit, and pay the bonds back. So N I know you dont want to steal your portion, so help me steal it for you, and I will just put it in your account, documented from any source you want'. N would have said, riddled with greed, 'sounds fricken good to me' 'my fingerprints ain't on this baby''Hey J, make sure I get first bite of the cherry though will ya !'. J would have said with is peado-like smile 'your wish is my command'. Greed leading Greed!. So beware Mabel.
It's not only Scomies, it's affecting all sectors except for Gloves and Health Care. My picks on these companies are currently doing great.
Just take a look at all the Big Names in the above article. They are affected too. Oil price drop because of demand but once the crisis is finished, the demand will up back.
Based on what happened to SARS, it will take about 6 months side way movements in KLCI. So do take this into consideration. Only HOLD this if you want to be a long term players.
My Scomies Business case is currently good as I managed to trade when it fluctuate between 0.06 and 0.09. It's not about greed. It's dirt cheap. Remember TH Heavy ? I bought it dirt cheap too...
All it needs is one good new. In TH Heavy case, it shoot up 30% on a single and continue to maintain it's momentum.
Only invest when you understand the business. Don't blame everything on markets, other traders or bad luck. At the end of the day, you are making the investments.
It's your call. It's never Calvin's fault. he only shares what he knew. By right we should be thankful to him.
Today it's not only Scomies that has dropped. Basically all her 12 sisters except 1 in O&G has drooped. Even my Best Battleship Serba Dinamik also dropped today, So it's a non issues.
If you think long term, all these fluctuations are part of the playing fields..
(Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Company’s announcements dated 27 May 2019, 30 May 2019, 18 July 2019, 9 August 2019, 20 August 2019, 3 December 2019, 20 December 2019, 30 December 2019 and 21 January 2020 in relation to the Proposals (“Announcements”)).
Reference is made to the announcement dated 21 January 2020 in relation to the Proposals.
The Board of SGB wishes to announce that the Company has failed to make good the amount demanded within the remedy period pursuant to the TSWA Loan Agreement and GGSB Loan Agreement.
In view of that, TSWA and/or GGSB shall each have a right to give notice in writing to the appointed trustee, Malaysian Trustees Berhad, (“MTB”) to:
(i) dispose or procure the disposal (by sale or otherwise); and/or
(ii) transfer or procure the transfer to TSWA and/or GGSB or their nominee(s) such number of ordinary shares in SESB (“Pledged Shares”) that is equivalent in value (based on the 5 (five) days VWAMP of the Pledged Shares as at the date of disposal or transfer) to the outstanding loan amount;
to recover any amounts due, including any default interest for the period from the repayment deadline until full settlement of the TSWA Loan and GGSB Loan respectively. On 11 February 2020, both TSWA and GGSB has each given notices to MTB to procure the transfer to TSWA and GGSB respectively such number of the Pledged Shares.
The Company is seeking legal advice on its next course of action which will be announced in due course.
The Board of Directors of the Company wishes to announce that the Company is presently looking into formulating a regularisation plan to address its financial condition. The Company will make necessary announcement in regard to any development on the above matter.
The Company has approximately nine (9) months to submit its regularisation plan to the relevant regulatories for approval.
Now it is interesting, with Wan Azmi's tussel with Scomi Holding to secure Scomies shares (in lieu of his loan repayment). With Wan Azmi on board as a significant shareholder, even though he probably doesn't want to be one, could be the game changer. He doesnt loose money without a fight. He will want to be in, play a big hand in successfully restructuring Scomies, and then out with a handsome profit.
From the announcements made by ICON, the company actually hoped to raise maximum amount of RM 247.21 million, but they received oversubscribed amount of RM 296. 33 million (247.21 m x 119.87 %) for Right Issue which is 19.87 % oversubscribed (296.33 m ÷ 247.21 m). The minimum amount which Icon hoped to raise was RM 183 million. So, the right issue was oversubscribed by 61.93 % (296. 33 m ÷ 183 m). It means the right issue was really really oversubscribed.
Look at the share price of Perdana and Coastal, they are improving day after day as business is growing in this sector.
Hence ICON does not need to start fresh, existing business is just nice in time. After the completion of the Right issue, ICON is should be out of financial difficulties since they have new fund coming from Investors like us. All shareholders can be considered new shareholders.
compare to icon, scomies share consolidation dont comes with RI and free warrant, so its different case
but market always has surprised, a pn17 stock also can make money but with higher risk
take a look at barakah, those keeping from 10c has losing 500% to date, that very huge and petronas has slapped with another writ, potential to be delisted is very high..
For Barakah, Time will tell. From the 13 Battleships that I have invested, only Silent Mary Barakah is currently registering negative margin. The reason why I'm still keeping it is because I want to follow through the turnaround of a company with PN17 status as I believe the best way to learn is to put your stakes in it. Currently at 2.5 sen is still the cheapest Mother O&G shares in town.
I have already invest in 3 PN17 Companies
1. TH Heavy 2. Scomies 3. Barakah
TH Heavy has started moving. TH Heavy shot more than 30% on a single with one news and continue to maintain momentum. I'm not expecting anything less with Scomies and Barakah by Q2 this year.
Here is 11 Darn Good Reason why Barakah will not be delisted.
1. Focus on bidding for more projects - Estimated tender book value of RM928 million. 2. Execution of projects to sustain operations 3 Orderbook of RM600 million provides earnings visibility up to 2023. 4. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu 5. Collaborate with stronger companies 6. Strategic tie-up with Vallianz. 7. Collaboration with Minsheng. 8. To explore areas of collaboration 9. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM1.02 billion demand against Petronas Carigali in August 2019. 10. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM179.84 million from Petronas Gas Bhd, in relation to the procurement, construction and commissioning of Pengerang Gas Pipeline Project (formerly RGT2 Pipeline project). 11. Work in Progress to get out of PN17. Clear visibility that Barakah is actively working on improving their financials and business prospects.
As i mentioned, Icon went limit up for 3 days is due to the share consolidation.
The right issues was an additional bonus to those who subscribe it.
Now its Scomies time to move and soon Barakah. Barakah CEO promised to resolve the regulation issues by May this year during the recent AGM.
Here's my Armada Fleets (13 Battleships) performance in term of margin as of today.
I'm really looking forward to see Scomies to climb up the performance ladder at least to be at par as Fancy Alam. All my Fossil Fuels Battleships are name after the ships in Pirates of the Caribbean.
1. Interceptor Serba 2. Black Pearl Armada 3. Flying Dutchman KNM 4. Jolly Roger TH Heavy 5. Empress Velesto 6. Fancy Alam 7. Adventure Galley T7 8. Rising Sun MMC 9. Golden Reach 10.Queen Anne Sapnrg 11.Royal Fortune ICON 12.Vangelis Scomies 13 Silent Mary Barakah
Further Regulation Plan, I can wait while the new team comes onboard.
BTW, I have different view of Digital Economy - I have invested in the following companies for my Digital Economy Business Plan 2020.
Technologies (10) Telecommunication (3) Media (3) Banking (4)
Catalyst
Digital transformation will boost between US$100 billion to US$136 billion (RM412 billion to RM561 billion) to the country’s GDP by 2025.
Game Changer includes 5G, NFCP, High Speed Internet, Automation, IR 4.0, Artificial intelligence, IOT, Ewallet, E Banking, E Commerce and Electronic Finance
for barakah, i sold at 7c for small loss, now can collect back 2c, still have plenty time to play, dont want to freeze capital there, the 5c save used to buy back alam
fyi, im not a type of trader with various counter, i only hold less than 6, comfortable this way and every counter i chose most of them i buy quite big depends on my appetite
Since everyone is so concern about CoronaVirus, come and join me at Glove industry. Malaysia is donating 18 million gloves to China. It's time to give back some of our winning. I just added Kossan last week to my Gloves holding to join her elder sisters Hartalega and Top Gloves. China will have all the masks they need to contain the Coronavirus...cats included...
Glove Industry is rated OVERWEIGHT by various IB..Very Bullish and has been climbing since the CoronaVirus struck..
Like I said many times, there really no right or wrong answers. Bottom line, what ever you do, do what that pleases you. You will be on the right track...
@WallStBull ICON plunged from 53 to 17.5 (closing) today.. so be careful of this counter. It may do the same... 17/02/2020 9:12 PM
Indeed...
I never see a stock limit up then limit down in single day from my trading life.
Another thing is I have never experienced about a change of the listing date brought forward by 2 days on Monday after designated Share Uplift on Friday evening on a very short notice.
There's too many first time here at ICON. I can see some similarities with my first night entering our bedroom after a gracious wedding ceremony in the evening after all our guest have left.
As the saying goes, "there are bedrooms you like to remember and others you would like to forget. Serba Dinamik is something I will remember for a lifetime as it was effectively done. Even Revenue exercise was great.
Unfortunately, ICON exercise is full of controversy; something I would like to forget and move on. It will definitely be a good lesson for the my next Share Consolidation Exercise end of this month for Scomies and Barakah in May 2020.
Other than this, I'm really looking forward for a smooth sailing of my ICON Royal Fortune..
after share consolidation share price inicative 30sen. no. of share from 2.342b become 468.4mil free float in market may be around 150mil if every thing is in good situation, mid term share price may go up 150% Happy trading!
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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....
cheyenne
25 posts
Posted by cheyenne > 2020-02-04 16:20 | Report Abuse
Calvintan had jumped ship to BINACOM and NETX Holding.