Reference is made to the news article published in the Nanyang Siang Pau, Business Section, Page A12 on Wednesday, 9 May 2012, in particular, the following sentences:-
“Sphairon Technologies GmbH may acquire 30% equity interest in Astral Supreme Berhad at a price between RM0.50 to RM0.60 per share.”
“Astral Supreme Berhad may also increase its capital and liquidity via rights issue on the basis of 1 new share with 1 warrant for every 2 shares.”
In response to the above article, ASB, after having made due and diligent enquiry with the Board of Directors, major shareholders and all such persons reasonably familiar with the above matter, wishes to announce that in the course of their ongoing discussions in relation to the Memorandum of Understanding dated 28 April 2012, Sphairon Technologies GmbH indicated that there are interested in participation in the equity of ASB. However, no further details were discussed, be it in terms of percentage or price. In this regard, at the moment, no firm negotiations are on foot between the parties.
As for the increase of capital and liquidity via rights issue, ASB wishes to clarify that the Company is exploring options to raise funds for working capital purposes, however, no decision has been finalised at this point in time.
The Company will make the necessary announcement to Bursa Malaysia Securities Berhad (“Bursa Securities”) should there be any material information that falls under the ambit of the Bursa Securities Listing Requirements.
Log on to counter's web site and latest annual accounts was 2009, it shows how much the management care about their image !!! Also try to get the latest accounts fr Bursa web site n link to accounts not working !!! Sounds to me this counter is just another goreng league .........
SO: really dunno when cherng will throw, but dun expect he dumps all in one shot. else u also scare, he'd dispose quietly and slowly, this how it works gua. else hw to untung
aiyo ...conman is better that u son ..u did incest on family ...shame shame ...how to show the family credibity to outsiders ? u should not comment that son ...he is the conman...then u r the fuckerman
took profit yesterday. don't think i'll look at this counter for a while. =)) beginner_1, try not to chase unless you think it will head up higher. I went into this counter when ppl said this counter's heavily manipulated.... i was pretty frightened when it dipped a little. Indicators were up, but it dipped. Held onto it. It went up. Got out yesterday. Pretty decent return for 2 wks timeframe. Got lucky i guess. Not for the faint hearted......
Astral Supreme and its loan stock is traded at 43.5 sen and 18.5 sen respectively. Here is an arbitrage opportunity: Sell 100000 shares of Asupreme at 43.5 sen, receive RM43500 Buy 100000 shares of Asupreme-LA simultaneously at 18.5 sen and pay RM18500 Pay 100000*0.10 or RM10000 to convert to 100000 shares of Asupreme, Total cost = 18500+10000= RM28500 Profit = 43500-28500 or RM15000 or 34%! However, short sell is not allowed in Bursa. You have to buy the 1000000 shares of Asupreme-LA with your own money, and then send for conversion with RM10,000. Hopefully by the time you get back the converted shares, Asupreme is traded the same at 43.5 sen a piece or higher. Hence this is not an arbitrage opportunity in the actual sense, but good punt nevertheless.
May I know why the Asuprem-wa haven't move one. Theoritical, the warrant should be follow by his principal share right? Why the mother share up so much but the warrant not even to reflect his real price?
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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....
kuance
58 posts
Posted by kuance > 2012-02-03 08:39 | Report Abuse
Technically: Keep an eye of this for the breaking band and the turnover of MACD.
Fundamentally: Yield good divident and have good record of earning. Additionally, confirmed order from the Sphairon Technologies is a top up.