KLSE: UMWOG (5243)       UMW OIL & GAS CORPORATION BHD Main : Trading&Services
Last Price Today's Change   Day's Range   Trading Volume
0.33   +0.02 (6.45%)  0.30 - 0.34  43,993,900
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General Meeting

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Ann. Date Date Time Type Venue View
24-Apr-2015 19-May-2015 10:00 AGM NEXUS 1 & 2, LEVEL 3A, CONNEXION@NEXUS, BANGSAR SOUTH CITY, 59200 KUALA LUMPUR Meeting Detail
26-May-2014 16-Jun-2014 11:00 AGM UMW Auditorium, No. 3 Jalan Utas (15/7), Batu Tiga Industrial Estate 40200 Shah Alam, Selangor Darul Ehsan Meeting Detail
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  10 people like this.
omione JamesPond, It is clearly stated in the circular. Rights Issue will be scuttled if PNB does not get the exemption. Like Malaysian Airlines, PNB will not let UMWOG go to rot. It stands to lose billions. UMWOG is still a viable business that simply needs nursing. That's all.
09/08/2017 15:30
oasischeah This share is waiting to rot.
09/08/2017 16:00
offshore Surely some sort of collaboration would have been made with significant minority shareholders to support the RI during the EGM. If PNB doesn't even know how to do such homework, Datuk ARA really no face already.
10/08/2017 04:20
oasischeah They don't even dare to announce a date for the RI. Selling off now is better than waiting for rights issue. GLC can afford to lose money. Everything is still OK for them.
10/08/2017 09:47
omione Don't be too sure that they have done their "homework" or ICON fiasco wouldn't have happened. If you still own UMWOG stocks, I urge you all to go to the EGM and vote against exemption. I suspect PNB will quietly appreciate it. Unless the Rights Issue is voted out, PNB may not have the smoking gun to take UMWOG private as a last resort - just like Malaysian Airlines case. The only minority shareholdings the management could conspire with to vote for the exemption are those held by EPF and KWP. Both combined only own 16.5%. The balance of the minority can easily out gun the duo with their combined holding of 38.5%. I suspect the market is also gearing up for PNB's buyout of UMWOG. Consider. Who have been buying at below 30 sen? Since the big sell-down began on Jul 13, 600m shares have change hand. That is a good ⅓ of the total outstanding shares. VOTE and see the stock price skyrocketing.
10/08/2017 09:48
omione By convention, announcement of Important Dates comes a month or more after the EGM. While the decision to buy or sell varies among investors, my view is at this rock bottom price, UMWOG is a value buy. Remember, even bonds of insolvent companies or states are still sought after by vulture funds. Value is all about price. Do make your own decisions. The only reason I am in this forum is to urge all of you to go to the EGM. Disseminate this to all your friends who own this stock. For those who buy at this price can look forward to making a hefty profit should PNB take UMWOG private. For this to happen, PNB needs a little helping hand from us.
10/08/2017 10:11
johntkh anyone can advise if cant attend to vote any other way to do it?thanks
10/08/2017 10:18
omione Sign a proxy to a friend who plans to attend the EGM.
10/08/2017 10:48
johntkh thanks
10/08/2017 11:25
omione I actually wanted to ignore oasischeah's comment,"Selling off now is better than waiting for rights issue." It's none of my concern. I am only here to urge you to vote. But my conscience prick me to share the little facts I gleaned from my research on this counter. Hopefully, should the price take off, someone won't sigh, "So near yet so far." But the decision is still yours to sell, hold, or even buy. Here goes: There were 1.2 b shares distributed from UMWH when it divested its holding of UMWOG on Jul 11, of which 0.9 b shares went to the triumvirs (PNB, EPF and KWP). Only about 0.3 b went to the minority. With more than 0.6 b already changed hand since, who else are there who can afford to sell below 30 sens? So if you analyse the volume, you will have to come to the same conclusion that there aren't much more to sell down. I hope you can make a few bucks out of this. VOTE.
10/08/2017 11:33
10/08/2017 11:34
FlyHiLaylo omione : please enlighten me on 'PNB take UMWOG private'?
10/08/2017 11:36
omione Let's be clear. At the moment, there is no such thing as PNB taking UMWOG private. Until and unless we as shareholders vote out the Rights Issue thingy at the EGM, PNB does not have an excuse to take UMWOG private, even if it wants to. In my opinion, taking UMWOG private is the best course of action for the minority, for PNB and for UMWOG as a going concern. It is win-win for all. But it will not happen unless the market forces PNB to go this route. Guess, it is just how things work.
10/08/2017 11:44
10/08/2017 11:57
Rowie It's interesting who bought the bulk of the 300m shares. Perhaps Insiders (election fund) who think PNB may be forced to take it private. Say if this happens (wishful thinking) & PNB offers at NTA values, all it needs is RM300m with EPF etc not participating. It can then pump RM1.5b to retire some of the debts & re-organise any way it wants. Its almost the same as now cos i think no minority shh will take up the rights. PNB still will have to come out with the bulk of the cash if the current deal is approved.
10/08/2017 12:17
omione Bingo, Rowie. You got it. Remember to vote.
10/08/2017 12:21
JamesPond @@omione..imho, taking UMWOG private is the best course of action for UMWOG and PNB but not for Minority. If whole thing rejected, UMWOG share price would move south and as such PNB can acquire further shares to trigger MGO at a lower than 30 sen.

For minority, it would be better if they vote for the RI and for PNB exemption and don't subscribe for the RI. That way, PNB get to rescue UMWOG, share price of UMWOG can move north and the minority gain.
10/08/2017 12:28
omione Don't fall for the ruse that UMWOG will go belly up if the rights issue fails. If you owe the banks 1.5 b, it is as much their problem as it is yours. In the short run, I believe, UMWOG will just roll over their debts. With regard to price: Should the rights issue exercise be rescinded, I believe, the smart money will scoop up the shares while the retail players panic. In the short term, price may fall, but not by much, and it will be only for a short time. I believe, PNB will have to act fairly soon - within a month or so. If PNB announces a buyout, it does not mean that we must sell our shares to PNB at whatever price it asks for. There are convention and rules to follow. An independent advisor will also be appointed to arbitrage a fair price. The norm is close to book value, which is about 1.05. But it can be less. But no way will PNB get away with even 30 sen offer price. But make your own call. Rights issue is really bad for all - minority, PNB and UMWOG. I have stated most of the reasons. Please read backward. After that if you still insist on voting for the rights issue, please go ahead. If you had bought at 4.60 or even 3, it is best that you take your shares private with PNB. But do vote against the exemption.
10/08/2017 13:12
Rowie no minority shh will vote in favour of the resolutions
10/08/2017 16:23
oasischeah Forget about voting. Just sell and take your money now!! Don't wait for the doomsday. Even if the RI is abandoned, It will also die.
10/08/2017 17:22
offshore If umwog can roll over their loan, there is no need for this RI exercise.
10/08/2017 19:44
rogerlth My thinking: Issuing RI also pay for debt, why I wan to gv money to them to pay debt? They are the one who create the debt but why I wan to help them pay it?

The share price sure will go down trend if after RI.
10/08/2017 20:19
hewusana Wow better run...
10/08/2017 20:25
offshore Actually the debt was taken to buy assets which was used to generate profit and all shareholders has a share of that profit, which now turn into a loss. I think their misstep was buying too many assets at high price, which now has lost its value while the debt the remain the same. So someone has to make up the shortfall i.e. the shareholders. And now PNB volunteered to swallow the whole RI to make up the shortfall, just need all of your approval. You can try your luck on privatisation but, I believe the NTA is much lower than that. Impairment can be done to reduce the NTA before doing a privatisation.
10/08/2017 22:04
JamesPond Agree with Offshore. Finally someone that talk some biz sense. If I run a biz with a few other partners and the biz is in deep shit, I m more than happy if a major partner is willing to fork out more money to bailout the biz, even at the expense of diluting my holdings.

Yes of course bank loans can be rolled over but that is assuming the bankers are stupid and dumb. If shareholders unwilling to bailout the Co, why should the bankers be the white knight?

Even with the RI, it is not sufficient to repay all its borrowings, but at least it will be easier to talk to the bankers to rollover a portion of the loans.
11/08/2017 13:10
JamesPond investor12345..if the RI goes thro, then UMWOG lives to fight another day. Although they are expected to make losses, but they is hope that in the long run they may survive and make profit. The share price would reflect that hope and as such should go up.
11/08/2017 16:52
anzo888 after the storm, u will get sunshine. maybe , at worst, 2 more qtrs of loses. At 28 sen and with PNB backing, losing money on yr investment is probably <5%.
11/08/2017 17:12
anzo888 PNB once did the same with UMW in the late 80s. They underwrite UMW rights n loan stock. What happened later was history.
11/08/2017 17:14
oasischeah 25 sen should be hit in the very very near days. Coming quarter results will give it big blow out.
11/08/2017 17:17
anzo888 I am buying below 30 sen and i wont even bother to go for the voting. who cares ? making a profit is my utmost concern
11/08/2017 17:20
vitac Buying below 0.3c there is two sword waiting for you,
1. comming QR will be in deep shit.
2. after the RI it will dilute the share maybe to below 0.2c, even with free warrant also die..
11/08/2017 17:26
anzo888 i will buy soon, b4 the qtrly results. buy anothr round after the results if still below 30 sen. will thn hold it for 1 to 3 yrs.
11/08/2017 17:32
anzo888 btw, may not subsribe to the RI. if can get below 30 sen open mrkt, why pay more at 30 sen
11/08/2017 17:33
rogerlth All Newbie here. Pls keep in mind that KLSE company is different with ur own company. In KLSE, we only able to enjoy fruit with company, not stand together while difficult time period with company.

I only buy RI if company collect money for business expansion, not pay debt.
11/08/2017 22:57
oasischeah As soon as the RI is official, it will trigger a sell down.
15/08/2017 10:17
JamesPond Once RI confirmed, I don't think there would be a sell down. On the contrary, I believe it will go up because:-
1] Those that want to sell would had sold
2] The market already priced in the RI effects
3] Once confirmed RI, that means UMWOG WILL be bailed out by PNB and chances of survival and eventually recovery increases

On the other hand, if RI rejected, then there will be a sell down.
15/08/2017 12:19
Rowie Some chaps here r so pathetic . At 29 sen thinking of selldown. Already sold down from 90sen before these dodgy deals came about. All engineered for crash for insiders to make money.
If anybody worried, don't buy or just sell yr holding & go to other forums . Stop spreading rubbish at this prices
15/08/2017 18:55
offshore If the RI really rejected, not sure how PNB will save this company. Maybe will end up like THHE. But likely RI will be approved because there is no door gift in this EGM. Perhaps not expecting minority to come and vote because it's really done deal. Even if RI proceeds, don't expect price will fly, it will remain below RM1 for some years. If Q2 continues to record loss, it is obvious the current day rate is below the company's breakeven rate. Any contract awarded will only reduce its loss, will not make them profitable.
16/08/2017 08:35
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16/08/2017 09:22
JamesPond Mrsblessingfirm, you should try asking UMWOG to borrow from you to rollover their borrowings. They definitely needs to borrow some more
16/08/2017 12:48
FlyHiLaylo 15-Aug-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 4,934,000 shares on 09-Aug-2017.

EPF can't be wrong....or can they?!
16/08/2017 15:20
micky92 Continue buying by EPF....at 0.285 for me downside risk is very much limited.
16/08/2017 20:30
bjgdila123 i follow kwsp
17/08/2017 16:02
hewusana Should be OK if less than 0.30
17/08/2017 20:20
hewusana Now 0.31 still can buy?
17/08/2017 20:21
hewusana Is epf buy at 0.32?
17/08/2017 20:22
micky92 Fail to go down...momentum up.cheers
18/08/2017 11:21
Azman Hashim Sometime jerung likes epf buy to retain stock holder in those company.
18/08/2017 11:31
johortiger DNEX is super cheap now. TP:0.75
18/08/2017 16:03
Mark Chia Forget DNex. The party is at UMWOG. PNB under TS Wahid's corporate genius is unstoppable.
18/08/2017 17:13
masterus London biscuit 7126 will issue right issue,warrants and bonuses soon. Soon it will up.
19/08/2017 15:45


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