Almost confirmed is gone case, another Bursa Annoucement revealed that Tan Sri Goh and Dato Eddy Leong disposed 16 million warrant on the day that they announced their great plan! at average price of 24.8 sen.
Lot of cash also no use if no special dividend. Small shareholders can only see it on paper and ask questions during AGM. I think most of the investors have lost confidence with the directors. Funds will not come back once kena screwed.
Can i ask those that think Tan Sri no longer interested with Salcon, can please help share with us the source? or just a wild guess/ rumours then after heavily speculated and become an assumed fact. Also, may i know the exercise price for salcon-wa..thank you..
I hv been searching upside down but i cant see any report on this. I only know that Focal + Eco world is developing a project in KL and salcon + Eco world is developing project in JB. Therefore, i quite curious why buying into Focal meant the deal with salcon is call off. I urgently need this info as i'm still collecting non-stop whenever the price pull back.
And i need the exercise price to calculate the premium to see if the directors dispose the warrant now due to high premium. Or purposely to press the price down to pave the road for private placement price.
The conversion price is 70 sen, Mature May next year, they sold at average price of 24/25, meaning that they don't think the share price will go up to 94/95 in 8 months time
Eko World proposed to take over 65% equity of Focal Aim, who is a lost making developer, but with a 1,000 acres land in Johor, they are not JV, but take over a listed company as their listing vehicle. They JV with Salcon also in JB, with a 49% stake in that JV company, and the project only 11 acres with a GDV of 1 billion.
JV still continues but of course the potential of a standalone eco world is stronger anyway nothing is monetize yet from the JV,earnings is not visible even worst with the sell off of china assets...beware it is a double top consolidation
My guess was few months back. Both Salcon and Focal Aim more attractive as he just needs RM280mil to get 65% control and also 1,000 acres of land in Johor. While in Salcon, he need about RM400 mil to control 60%, with RM200+ cash in Salcon but no land
Believe the endless possibilities, Eco only wants the land bank in Johor, it takes Focal private, and come back to Salcon for RTO..Don't lose hope as yet, moreover, Salcon is now cash rich.
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....
inwest88
5,628 posts
Posted by inwest88 > 2013-09-19 09:41 | Report Abuse
hiddengem - best of luck and happy trading !