Posted by Dan Iel > 2012-11-01 16:55 | Report Abuse

adui 64 ct. i think will go lower then wa expire

Posted by Hong2 > 2012-11-01 20:20 | Report Abuse

Today still have BuyBack share, suppose will not go much lower right? :( :(

Posted by chinwei86 > 2012-11-02 09:16 | Report Abuse

hope don be going down anymore....

Posted by cwkhor > 2012-11-02 09:19 | Report Abuse

agree with Dan Iel, somebody intentionally pushing the price down before WA expire. expect to break 0.60...

Posted by chinwei86 > 2012-11-02 09:25 | Report Abuse

if break 0.6 means lower than its buy back price..

Posted by aunloke > 2012-11-02 11:31 | Report Abuse

Muiyan, don't feel bad, it's almost the bottom already.

Posted by Hong2 > 2012-11-02 11:43 | Report Abuse

Aunloke....pls update ya, should have any progress in this counter. Am stucked too at 0.715! Thanks...

Posted by tonylim > 2012-11-02 11:46 | Report Abuse

yea.almost bottom, aunloke anything wrong with the accounts?

Posted by aunloke > 2012-11-02 11:59 | Report Abuse

I'm as much in the dark as you all, from the earning it looks OK, what I don't like is no dividend since 2009, I'm waiting for the Q3 report and the total number of warrant conversion before I make my decision to enter or not.

Posted by aunloke > 2012-11-02 12:29 | Report Abuse

This MAY BE the reason why the shares face a strong selling pressure , the free-float of shares is about 30%+ leaving the majority shares holders having about 60 over percent and hence about 60M+ warrant with them . to let the warrant expire is a waste ,to convert the warrant needs lots of cash, so the best way is to sell the mother and convert the warrant , the profit can be quite handsome.

Posted by Wy Lee > 2012-11-02 12:54 | Report Abuse

OMG...if it is true....conversion price .....rm0.53????


9318WA FITTERS-WA FITTERS DIV BHD - WA
Expiry/Maturity of the securities

Type of Securities : Warrants

Type of Expiry : Expiry/Maturity of the securities
Mode of Satisfaction of Exercise/Conversion Price : Cash
Exercise/ Strike/ Conversion Price : MYR 0.5300
Exercise/ Conversion Ratio : 1:1
Settlement Type/ Convertible into : Cash
Last Date & Time for Trading : 07/11/2012 05:00 PM
Date & Time of Suspension : 08/11/2012 09:00 AM
Last Date & Time for Transfer into Depositor's CDS a/c : 20/11/2012 04:00 PM
Date & Time of Expiry : 27/11/2012 05:00 PM
Date & Time of Delisting : 28/11/2012 09:00 AM
Remarks :
You are advised to read the full contents of the announcement or attachment at
http://www.bursamalaysia.com.

Posted by Wy Lee > 2012-11-02 12:55 | Report Abuse

then most probaly will drop to rm0.53 it is? if all buy warrant and sell mother lot..zzz

Posted by aunloke > 2012-11-02 13:48 | Report Abuse

I doubt the management will allow it to drop to that level for it'll be hard to pull back. Below .60 should be very good entry level.

Posted by chinwei86 > 2012-11-02 14:57 | Report Abuse

oh no...still wil break below 60...

Posted by aunloke > 2012-11-02 15:01 | Report Abuse

hope not !

Posted by Hong2 > 2012-11-02 15:22 | Report Abuse

Adui....very stressful!

Posted by tonylim > 2012-11-02 15:29 | Report Abuse

Hong2, relax la.

Posted by cwkhor > 2012-11-02 16:19 | Report Abuse

for those who have holding power, you should consider to keep till WA expire.

Posted by tonylim > 2012-11-02 16:23 | Report Abuse

khor what's in it for me

Posted by Hong2 > 2012-11-02 16:29 | Report Abuse

Yalah...have to keep and buybak low to avaeage. Wondering Y, at the 1st place being recommended to buy? And I pulak, bodoh2 buy without research!

Posted by Dan Iel > 2012-11-02 17:09 | Report Abuse

its obvious pushing down

Posted by chinwei86 > 2012-11-02 17:10 | Report Abuse

aiyo...sad nia..now ned to wait til WA expire

Posted by kcchongnz > 2012-11-02 17:33 | Report Abuse

The problem with company warrants is that one needs to come out with money to convert to the underlying shares. Say because the warrants are cheap, one may have bought a lot, for example 100,000 shares just for RM8,000 at 8 sen each. But to convert you need to come out with RM53,000! One may get scared that even you have the money to convert, what if Fitter shares drop further after conversion? The other thing is there is this dilution effect with the conversion of the warrants and the Fitters shares may not worth its value per share now. If you don't convert, you have to sell, and likely at a big loss. Sigh, susah lah. Yeah, with the discount of the warrants now at 4%, if you have Fitters shares, it may be advisable to sell the underlying shares and convert the warrants when the time come, if you don't want to expose too much to the business of Fitters.

Posted by Dan Iel > 2012-11-02 18:05 | Report Abuse

hopefully no1 convert

Posted by kcchongnz > 2012-11-02 18:18 | Report Abuse

Dan Iel, the reality is that if I am one of the major shareholders who holds lots of warrants and the underlying shares, and I have no money, or not willing to come out with more money to own more Fitters shares, I would sell Fitters shares now, and take the money to convert the warrants to Fitters shares later. I will save 4%, being the discount of the warrants in respect to Fitters shares if I were to do it the other way round; ie, sell the warrants and keep the underlying shares. This would have the effect of depressing down the Fitters shares, which I believe is happening now as the expiry date is very close now. If you have the money to convert, you can analyse the effect of the dilution of the soon-to-be converted shares, and see if it is worthwhile to keep your existing Fitters shares, or even buy more if after the dilution, Fitters share price now is still a bargain. Who knows it may present a money making opportunity for you.

Posted by aunloke > 2012-11-02 18:28 | Report Abuse

After Sandy New York still stands tall so don't worry just face the storm ,it may be a good buying opportunity.

Posted by Hong2 > 2012-11-02 19:17 | Report Abuse

May i know, for the daily transaction, who are the buyers then? The company it's self?

Posted by tcleng > 2012-11-02 19:45 | Report Abuse

how come everyone in Fitters so sad leh... I have different view on this share... I think this share may go up soon...

Posted by Hong2 > 2012-11-02 20:04 | Report Abuse

TCLeng....may I know why you say so then?
Bcos, the BuyBack at 0.655 and 0.640? That's should be the lowest level right?
But I still hope your view going up soon is right..

Posted by Dan Iel > 2012-11-02 20:05 | Report Abuse

thanks kchongz.

Posted by js00897 > 2012-11-02 21:44 | Report Abuse

may i ask a newbie question.. if i buy the warrants now and it charge me 0.53 to convert.. did there any extra charge for buy and converting?

Posted by captros > 2012-11-02 23:19 | Report Abuse

How much more will mother fall? I think the worst scenario will be 0.535sen. That is the point when warrant worth .05. But it may not happen. May 1 or 2 sen below 60sen. That the floor. Its a good time to enter at 58 sens. Any one agree with this?

Posted by js00897 > 2012-11-02 23:24 | Report Abuse

now warrant is 0.065, after convert become 0.595. it's there any extra charge or other term in condition?

Posted by captros > 2012-11-02 23:36 | Report Abuse

was told that the charges is the normal brokerage charges and stamp duty etc normally incurred by you when you trade. In other words very minimum and insignificant. Maybe somebody else could verify this.

Posted by js00897 > 2012-11-02 23:42 | Report Abuse

so, it mean that when convert, brokerage charges and stamp duty etc also charged??

Posted by captros > 2012-11-03 00:02 | Report Abuse

Chargable.

Posted by Jjtrader > 2012-11-03 00:18 | Report Abuse

I have bought around 287,000 shares at Rm 0.72 and luckily already cut loss at Rm 0.69. Some time accept a small loss is better than let the loss getting bigger. Still waiting for the right moment to enter again. But I believe the bottom should be very near already.

Posted by aunloke > 2012-11-03 11:21 | Report Abuse

To those who want to average down and keep for long term, buy the warrant and convert it to mother, you can save a few cents.

Posted by tcleng > 2012-11-03 11:58 | Report Abuse

They push down the price because of warrant going to expired soon. After warrant, everything will go up back to normal, maybe 0.68 or more...

Posted by tonylim > 2012-11-03 18:02 | Report Abuse

tc, it better be only for this reason for the price down trend.

jj me to sold around that price.

mui yan, what is it you post in mandarin

Posted by kcchongnz > 2012-11-03 18:40 | Report Abuse

For those people who are worried about Fitters, see I I can comfort them. Fitters seem to be doing well in the last few years, good growth in revenue and profit. At 62 sen, last fy Pe is low at 6 and enterprise value just 5 times ebit. This two quarters have also improved. As warrants are traded at discount at 6.5 sen and conversion price just 9 sen below Fitters, I think the effect on dilution is minimal. More shares but company received a lot of cash for the warrant conversions, which can be used to reduce its borrowings. I guess the sell down is due to the selling of Fitters by the big shareholders to get cash to convert their warrants. Just guessing. My only concern is its poor cash flows from operations. Hope this improves. This is the only reason I don't buy Fitters shares. I don't know this concern of mine is valid or not for a fast growing company like Fitters. Still it is my philosophy of emphasizing of cash flows rather than earnings.

Posted by Hong2 > 2012-11-03 20:53 | Report Abuse

Each times I read the posting, I am asking why the ECM Broker recommended me to buy? Isn't he knows the background of the counter, where you all forumers knows better.... I get more reliable info here.

Posted by tonylim > 2012-11-04 00:42 | Report Abuse

that is the short fall of looking to deep into the TA

Posted by kcfan > 2012-11-04 16:07 | Report Abuse

Understand that the best opportunities usually carry more perceived risks, and distinguish carefully between the risks that matter most and those can live with.
For my point of view on this counter's prepare to delay decision on share buy back if ongoing unclear company warrants settlement not over yet.Trade in safe mode.Right?

Posted by chinwei86 > 2012-11-05 09:16 | Report Abuse

so means now dont do anything ...just wait & see?

Posted by kcfan > 2012-11-05 09:28 | Report Abuse

Yes.Waiting for new warrants release by tomorrow and monitor it performing on market action.

Posted by chinwei86 > 2012-11-05 10:44 | Report Abuse

sakit hati...drop like hell...when will be the WA expired?

Posted by Dan Iel > 2012-11-05 16:17 | Report Abuse

dam the big shareholder should eat back their -wa. for the past year they probably had sold 30ct above. eat back at 5-7ct sounds reasonably right?

Posted by tcleng > 2012-11-05 16:34 | Report Abuse

the WA to be expired 27.11.12, i think we should be patient to wait until it goes up...

Posted by chinwei86 > 2012-11-06 09:28 | Report Abuse

i month to wait & see...