MAA and buddies took over all the PPM. They are worried that they will loose power. This recent volume is likely them selling off shares to get money to buy the shares in the PPM so nobody else can buy. The PPM is completely subscribed at 0.054 so they make 30+ %. It is the only way TY knows how to make money. The existing management team is not qualified to run a petrol station let alone an engineering company. It is time to throw TY, and MAA out and get new people who know how to do enginerring business and access capital. They have brought shame on knm and shame on malaysia.
RAvi Balasingham as CEO is a failure.. He was the CEO of Malaysian Merchant MArine of TY's co and before that in a East MAlaysian shipping company! UK PR, is here to do corporate turnaround!
If any good he would be doing great job in UK isnt it!
I roughly calculate MAA group invest 7% share at price of 0.227. now having extra 30% pp ticket with average of 0.05 so rough estimate they average down at 0.088
7% 266000 Lots@0.23 and 10% 330142 Lots@0.54=$79007668/596142 Lots. MAA average cost should be 0.132 only if PP are taken up by them. Once Borsig listed, the share price should back to normal around 0.15 or even higher. Just hope for the best.
sorry Proff, NO idea. Hopefully not to wait too long, as the Company has approximately 5 months to submit its Regularisation Plan under the PN17 of the LR to the relevant authorities for approval. But, u can monitor latest prospectus at https://www.sgx.com/securities/ipo-prospectus
I think the listing will eventually fail because I have no confidence in their execution capabilities. Maybe they are looking for a good timing to announce the update.
Thank you Dragonz98 for the information. Any update on what company going to do with Thailand Ethanol and UK Peterborough? Vhydro, no worries. We just need faith to believe that Borsig have all required criteria for listing in SGX.
You do not need to rely on faith. The facts in the matter are clear. Nearly 17% of Borsig revenues come from activities in Iran. This is a sanctioned country. Therefore the majority of banks in the world are unable to support any Borsig activities. They are restricted to activities in Germany only. There is no possibility of the listing of this company in any public markets in Singapore. This is nothing more than a story created to satisfy creditors of a potential future under the incompetent leadership of TY and his team of failed Insurance executives. Stop spreading false information and nonsense. For those of you that are professionals, ask your legal team.
So many months are passed and there is not any small update yet on the listing. Yes, big probably it is a trick to scam creditor. Senang-senang boleh list a foreign company in SGX ??
The next important move for knm is to remove these existing non-performing directors and replace with qualified and professional people. Restore the backbone and capabilities of KNM. Enough with incompetence insurance resellers. Get out TY.
The deal between KNM Europa BV and British Midland is dependent on satisfactory due diligence within three weeks, said KNM in a bourse filing on Friday (May 26).
So, the deal will confirm by today. Maybe next week to sign S&P to disposal of FBM Hudson.
Super Good news ! More & more companies rushing to be listed into KLSE ! There are 6 companies going to be listed in KLSE for July & early August 2023 !
The top shareholders list : 1) KENANGA INVESTORS BERHAD 9.92% 364,676,450 2) MAA GROUP BERHAD 7.24% 266,000,000 I wonder who's behind the Kenanga Investors
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....
Proff P...
39 posts
Posted by Proff P... > 2023-06-09 14:33 | Report Abuse
Where is our friend Sardine? Please share your thought my friend.