kengteck68recap: Nicorp, currently with a market capitalization of RM 96 million and 772 million shares issued will definitely be a good vehicle to be RTO for a quick listing and business expansion through raising funds from the public. A similar example will see Symphony House Berhad (Symphny -0016) which had 660 millions of shares and a market capitalization of RM 125 million is a RTO target by Ranhill.
While Nicorp foray directly into the oil and gas sector might still be vague now, the possibilities of Nicorp being linked up with Alltrust International Group to provide services or equipment that caters to the oil and gas sector is still a good possibility to be eyed upon after seeing a huge stake up by Dato Siaw Swee Hin.
Nicorp will be a good company to be looked at for the time being as more corporate exercise, restructuring is going to unfold. The current entry of Nicorp is deem attractive due to - Private placement at RM 0.12 fully subsribed - Increase of stakes by Dato Siaw Swee Hin, with majority purchase price at RM 0.125 - Ceasing of Dato Raymond Chan as the substantial shareholder and CEO of Nicorp - Appointment of Dato Abdel Aziz as the Chairman of Nicorp - Appointment of Cheang Soon Siang as the executive director of the company. Mr Cheang is experienced in handling cash flow, working capital management and restructuring and recovery of credit facilities for corporate. - High Speculation of Nicorp as a RTO target, with Alltrust International Group as potential target.
Nicorp should be looking to trade stronger in the coming days with more corporate development unfolding one by one. A quick outlook will place Nicorp testing at RM 0.15, while a longer term outlook might suggest Nicorp putting RM 0.30 to test.
getrichfacts and fundamental looks good..but see the price still aint moving... puzzled
yaofongnew managing director, interested to see what will be coming...is going into oil & gas real?
noorgreenkeep and sabar..will reward u handsomely :)