@yewdheng: BLee NTA revised at 1.22.

BLee: Hi Bro @yewdheng, thanks for sharing. I have read the June22QR ytd and the salient points (June22QR vs June21QR) are:-
- NTA of 1.22 vs 0.24, improved by 0.98, 408.3% (due to consolidation and RI?).
- Revenue of RM116,664k vs RM51,281k, improved by RM65,383k, 127.5%.
- Gross profit of RM29,933k vs RM9,312k, improved by RM20,621k, 221.4%
- Net profit of RM4,594k vs RM7,751k, declined by RM−3,157k, -40.7% (mostly contributed by the impairment of goodwill on consolidation in a subsidiary)
- Earnings per share (Basic (sen)) of 2.74 vs 0.57, improved by 2.17, 380%
- Cash and bank balances of RM41,671k vs RM9,059k, improved by RM32,612k, 360%
Happy Trading and TradeAtYourOwnRisk

@CFTrader: Sad to say people still have hopes in this counter…

BLee: Hi Bro @CFTrader, let's compare investment of RM1k in Fintec at 1sen and Fixed Deposit of 2%p.a. for the duration of 1 year and 5 years, what could be the return and risk??
The return for FD roughly will be RM1,020 for 1 year and roughly RM1,104.05 for 5 years. I would allocate/risk my RM1k spare cash for 5 years in Fintec in lieu of the mere RM104 interest gain.
Another example, I have risked my investment in AGES-PA at 3 sen, already close to 100% gain in less than half a year. Both of these examples, the investment is traded at almost historic low, so the gain risk will be improved if the market reverses direction..just low risk low gain and high risk never know the gain!!
Happy Trading and TradeAtYourOwnRisk

@probability: Fire at Biggest US Midwest Refinery Threatens Fuel Supplies

BLee: The Refinery is Big, how big is the fire? The fire occurred in the power house…which has very little combustible materials. Fire protection at Power House is usually well designed and cables can withstand 3 hours of burning as per IEC331/API/NEMA for critical installation. The Electrical outage can be recovered quickly if the system is well designed. How will it impact a faraway region? Hope the fire incident will be well mitigated.
Happy Trading and TradeAtYourOwnRisk

@probability: My opinion:

PetronM results were already known much ahead...and its not that explosive.

Their refinery contribution is minimal to the bottom line

They dont really gain from the diesel crack spread rise as they are forced to use Tapis at premium of 25 USD/brl against brent.

BLee: Hi @probability, you are spot on; as Tapis is considered light/sweet condensate, the treatment is very much different from some of the heavy/sour condensate. As each Refinery is unique, unlike glove factories, it is very hard to predict the profit. The crack spread you use in the calc could be based on an ideal (max.) scenario. For example, HRC tankage of 11 crude and 78 products could be another factor in how versatile the production can be?? Link: http://hrc.com.my/operations-products.html
I am no expert, just my opinion for sharing. TQ

@Investfrog: Upcoming QR will push Ages upwards again

BLee: Hopefully. I am waiting for the revised NTA or NAB, to reflect the correct calculation after 1:15 Ratio (New:Existing) shares consolidation and 2:1 Ratio (New:Existing) RI at RM0.2. This reporting will reflect the present price with respect to new profit/loss/Assets and current Number Of ShareHolding (NOSH).
Happy Trading and TradeAtYourOwnRisk

@pineapple123: Blee, what is there is Ageson-PA? mind sharing more ?

BLee: Hi Bro @pineapple123, I am still learning on Preference Shares which AGES-PA is part of this type of investment instrument. I have written a few articles from my learning, you can go thro', I am glad to answer your queries again if you have a question.
Quick reference for ICPS:
- Mature and auto convert.
- Anti-dilution. Example below.
- 2 methods of conversion.
My articles have taken as an example how Fintec-PA conversion adjusted from 16PA to 11PA for conversion to 8 mother shares, a discount of 5PA.
Details: Pursuant to the Adjustment, the conversion price of the ICPS will be revised from RM0.16 to RM0.11 as in Securities of PLC dated 24 December 2020.

To answer your question, I do not have the right answer, only assume a discount of RM0.92. If 13 AGES-PA can convert to 1 mother share, therefore 1 AGES-PA will be worth 1.03/13 equal to RM0.079 instead of RM0.15??
If by cash conversion method, the AGES-PA price will come to equilibrium around RM0.95 whereby both mother and AGES-PA theoretically will increase in tandem??
Details:Initial Listing, Issue Size in Unit 4,610,754,392 at RM0.01
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR) 0.1300
1st Further Issue, Issue/ Ask Price Malaysian Ringgit (MYR) 0.1500 Enlarge Issue Size in Unit 254,281,099
2nd Further Issue, do not understand on Ask Price of NA?
Pursuant to the adjustment to the conversion price of the ICPS arising from the Rights Issue ("Adjustment"),
(i) the conversion price of ICPS of RM1.95 each will be revised to RM1.03 each; and
(ii) The cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Share) of RM1.80 each will be revised to RM0.95 each.

The notice setting out the details of the Adjustment to the holders of ICPS was despatched to entitled ICPS holders on 2 June 2022.

This announcement is dated 8 June 2022.
Due to heavy rain, really have a busy day on the road.
Happy Trading and TradeAtYourOwnRisk

@pineapple123: BLee, try to look at focus dynamics. Before, it went up to RM3 plus, from few cents.
I believed Fintec can too.

BLee: Hi Bro @pineapple123, Focus D is a very clear case of pump and dump by a certain foreign investor. Fintec instead of dump together, increase owning by roughly 10% at around 4sen to 5sen. I have tracked the acquisition in one of my articles, when I am interested in buying Fintec at around to a low of 2sen. My funds (for shares purchase purposes only) are tight up in Ageson-PA at around 3 to 3.5sen, if not, I would have bought more at 1sen. I would be happy if I can wait until 10sen, i.e. 5X my investment cost. On the possibility of consolidation, I might share the analogy formula of my work experience of power/control transformer sizing (PTs and CTs), ratio of 1:XXX for better control and accuracy..No value lost.
Happy Trading and TradeAtYourOwnRisk

@Good123: Lambo Group Bhd said it was unaware of any wrongdoing related to its indirect wholly owned subsidiary Fujian Accsoft Technology Development, after China's finance ministry imposed a penalty on the subsidiary's auditor last month.

BLee: Hi Bro @Good123, thanks for sharing an "INDIRECT" article at Fintec forum.
1st "INDIRECT" as mentioned above indirect wholly owned subsidiary..
2nd "INDIRECT" as only subsidiary's auditor. Auditor having sole client?
3rd "INDIRECT" only sharing the same linked investor??
There are many more "INDIRECT" which I won't dig further. FYI, I have no direct investment in Lambo, maybe "INDIRECT" only..Again thanks for "eye and ear" for highlighting "INDIRECT" info.
Happy Trading and TradeAtYourOwnRisk

@pineapple123: Blee, a 10x of 1c is based on what formula calculation?

BLee: Hi Bro @pineapple123, incremental/magnifying formula? Since you mention 1 ringgit, which is 100X of 1sen. I reduced the incremental by 10X, which is roughly only 2X NTA of 5.02sen (back to Dec.2020 price of 10sen?)..
Happy Trading and TradeAtYourOwnRisk

@pineapple123: Will people call FINTEC a con company if one day the price shoot to RM1? Just saying.

BLee: Hi Bro @pineapple123, 10sen will be good enough..That will be 10X from today of 1sen. It is achievable as NTA is already 5.02sen after so many SIS, PP, etc dilution. All the others investment similarly very much below shares NTA as the market underperformed since pandemic started. It is testing our patient, the recovery will be very much reaching the 'end of tunnel'??
Happy trading and TradeAtYourOwnRisk

@pineapple123: I hope so BLee.

BLee: Hi Bro @pineapple123, yes on hope as 1sen selling gone a few times..Next level 1.5sen.
Fintec Balance Unutilised Proceeds as at 31 March 2022 - RM51,762 million from gross proceeds of RM114.617 million from the RIWW as shown in link:
https://www.klsescreener.com/v2/announcements/view/3589507
All the postings of "missing proceed" can be put to rest?? With the proposed arrangements with Joe Glove, more cash will be saved?
Happy Trading and TradeAtYourOwnRisk

@pineapple123: Confirmed finally. Will bring any impact to FINTEC share price Answer is a big NO.

BLee: Hi Bro @pineapple123, a big NO slowly reversing trend to a small YES before noon trade today. "Con or no-Con" will be slowly addressed with various announcements and corporate action??
Hope for the best, Happy Trading and TradeAtYourOwnRisk

Hooray, resistance 0.58 cleared, next level 0.60 coming. Happy Trading and TradeAtYourOwnRisk

@Goodprofit: @ Blee please understand this situation right now. lease or collaboration still the same just on sell , for example Aspen Gloves also on sales

BLee: How can it be the same, with RM14,470,000.00 monetized from the 'bad' investment. The 'bad' investment now could turn into a 'good' investment with this collaboration?? Hope for the best as investment is 'calculated' on hope.
Happy Trading and TradeAtYourOwnRisk

@Goodprofit: wow sales on machine tak mau buat gloves ?

BLee: Hi Bro @Goodprofit, most probably sell and lease back/collaboration??

The part details of sale as below:

"4. RATIONALE FOR THE PROPOSED SALE
Joe Glove is a wholly-owned subsidiary of Joe Holding. The strategic collaboration through the
Proposed Sale would enable Fintec Glove to leverage on Joe Holding Group’s connection and
networking in domestic and international market for sourcing and engagement of new customers.
In addition, the Proposed Sale would result in cost savings on the gloves production by Fintec
Glove due to the sharing of resources with Joe Glove on the management of the following:
i) Maintenance and Facility
ii) Environmental, Safety and Health
iii) Quality Assurance and Quality Control
iv) Research and Development and Laboratory
v) Materials and Planning
vi) Warehousing, Packaging and Logistics. Hence, the fixed and variable production costs would be reduced simultaneously. The estimated total cost for a piece of glove is expected to be reduced by 3.5%."

Always please go through the whole announcement before making any conclusion.
Happy Trading and TradeAtYourOwnRisk

@Understand: …Ahya electric car is not a difficult technology, go to Google patern you can see the details of the battery. Similar to solar,wind or other green technology. Why still using coal and oil..

BLee: Hi Bro @Understand, agreed Electric Car is similar to Battery operated toy car, easy to make. The technology is in the batteries i.e. short charging time to full capacity, hardly any memory effect, high deliver power, high km per charge, cost effective, etc

The charging current still needs from the power supply company. Solar, wind and other green technologies are very unstable as the system relies on nature, and cannot supply 24/7 (except hydro, nuclear or future H2 cells). At present, Gas Fired Turbines are still the best option as our country has sufficient gas reserves. In the near future, coal and oil will not be the major fuel for Energy Generating Feeds..Hope this explains and open for further sharing. TQ

@Good123: the resignation of 2nd tier international accounting firms as external auditor among their related companies are a good indicator that things are not well, etc..

BLee:Just Google, and details can be found:-
Link: https://www.theedgemarkets.com/article/audit-firm-afrizan-tarmili-khai...

https://www.nst.com.my/business/2021/12/753248/court-appeal-upholds-sc...

"The court document, which referred to the Bursa-listed companies including Supermax Corp Bhd, Seacera Group Bhd, Mentiga Corp Bhd and Alam Maritim Resources Bhd as public interest entities (PIEs), claimed that the SC’s suspension resulted in AFTAAS being prohibited for 12 months in 2019 from auditing the PIEs' financial statements."

"KUALA LUMPUR: The Court of Appeal today ruled in favour of the Securities Commission Malaysia (SC) and set aside a High Court decision on August 10, 2020, to quash the SC's Audit Oversight Board's (AOB) enforcement actions against Afrizan Tarmili Khairul Azhar (AFTAAS) and its partners."

It seems NOT only Fintec (Correction: AGES Auditor AFTAAS resigned, share price still up proved that changing Auditor NOT necessarily a red flag) needs to change the same Auditor…??

@kcchongnz: Palm oil is different from the steel. You can't simply open up new land and plant palm oil like open up new factories…

BLee: Hi Uncle @kcchongnz, agreed Palm oil is different from steel as we cannot compare apples with oranges. We are on the topic of "Storage Capital Gain and Losses"; Steel does not have expiry date but Palm oil does. Certain Steels have their own strength and usage, but Palm oil is just an alternative to some others edible oil. Cost plays a very important part in marketing of Palm oil, once the cost is no more affordable, alternatives will be found.
I now prefer Butter over Palm oil based products for my bread spread…
This is just a topic for discussion, no malice intended. Thank you for a very interesting article.

@Good123: ...Many hidden related party transactions which are secretive, not at arm length, etc.

BLee: Hi Bro @Good123, hidden or secretive transactions are pure speculative unless you are part of the so-called gang...logically? So please share if got more info, thanks.

A very good write up and very easy to understand the effects of unsold stocks valuation. I hope the next write up will be on palm oil and crude oil refinery stocks.
A recent report on palm oil storage fully filled up all available storage in our neighboring country could be a big concern for future palm oil prices.
It is the same for crude oil refineries, the refineries with bigger storage capacity will have bigger profit margin when crude oil price increases. It is vice versa if the prices drop. It will not be accurate for crack spread calculation if based on another neighboring country due to its massive storage capacity.
Happy Trading and TradeAtYourOwnRisk

Thanks Bro @Musang King for the wishes. I have recovered my paper losses in AGES mother and PA as my holdings in 2 IB increases almost 100% since consolidation/RI. Hope will happen in Fintec soon as Saudee went up 22% and Focus D went up 50% before noon break with high volume...
Happy Trading and TradeAtYourOwnRisk

@Good123: Dielah
Common directors as executive or independent directors and buying one another share below 5% among their gang punya companies to escape scrutiny…

BLee: Hi Bro @Good123, no need Dielah as Focus D last minute before lunch raised by 50% with very high volume.
On Directors reporting, even owning 1 share needs to be reported as per "Directors’ interests in shares -
The shareholdings in the Company and related corporations of those who were Directors at the end of the financial period,
as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 59 of the Companies Act 2016 in
Malaysia"
Happy Trading and TradeAtYourOwnRisk

AGES-PA play catching up in action, mother down a bit, PA up a bit...
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, another stock (AGES) is also doing very well at this moment after consolidation and RI, I hope he (@whistlebower99) do not include in his advice. Some of the mentioned penny stocks also started to rebound from the lowest point and heavily traded...
Happy Trading and TradeAtYourOwnRisk

@Kingston1: Pity those who bought ages-pa, no movement at all. Mothershare huat huat huat ahh

BLee: Hi Bro @Kingston1, AGES-PA logically slack behind the mother share as the unit price very much depends on the mother price direction. So no need for pity as just a delay movement; low risk low gain. In terms of percentage gain, low prices will most likely have a higher gain in every sen increment. AGES or AGES-PA will huat together if either has more demand.
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, good write-up. And also we must compare apple with apple, NOT orange. Different countries have their own sets of rule, why compare?
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, welcome. We will learn together. No one is an expert in everything. I am quite well verse in Renewable Energy (RE), not so good in accounting. Please correct me if I make any error in some of the accounting statement..thanks

@Musang King: .. directors…they do own any, it is not obliged for them to mention their holdings if they hold less than 5% of the total Shares. Correct me if I may guess wrong. Thanks.

BLee: Hi Bro @Musang King, directors holding are always declared in the Annual Report.
Example:
Page 44 of AR year 2021, declaration as below:
"Directors’ interests in shares
The shareholdings in the Company and related corporations of those who were Directors at the end of the financial period,
as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 59 of the Companies Act 2016 in
Malaysia, are as follows:"
Only problem is that QR and AR are issued very late after the reporting period, therefore the data is not up to date.
Happy Trading and TradeAtYourOwnRisk. I hope everyone has a good trading week ahead.

@Musang King: Now, I have done my research quite in detail on Fintec by now. I have these questions in my mind which are alarming…

BLee: Hi Bro @Musang King, very good questions indeed. I might not have the answers to all your questions, but you might understand more if you know the principle of Investment Company/Unit Trusts/Equity Funds.
In the year 2020/2021, due to expected slow down/lockdown of the economy, listed companies are allowed to raise funds with various instruments such as PP (30% of NOSH instead of 10%), ESOS/SIS and RI. Similar to Unit Trusts, the purchasers are not obliged to be named. Any trust holders less than 5% will also not be obliged to report their holdings, so can open many trust accounts without being named. This might answer Q2 and Q3.
My take on Q1; more important is for invested companies to raise in price, recovering the paper losses. As per recent report, "Investments in quoted securities as at 14 July 2022 of RM199,056,502.41 vs Total Market Value of RM84,442,719.69". Logically, if this over RM114mil recovered, Fintec share price will recover.
Regarding Q4, no comment as I have no details as what stated. The discount of around 10% on 5days VWAP of each issuance will definitely lower the trading price after the issuance.
Q5 might not be relevant for investment based company as share buy back is not a investment strategy.
I have no comment on Q6…
Happy Trading and TradeAtYourOwnRisk

@sting79: Hi BLee: To have an average cost of 0.28 today, it means your cost prior to consolidation is around 0.03…

BLee: Hi @sting79, my average cost is very much lower than yours. I have cost averaging before consolidation but higher than 0.03 for mother shares. I also bought AGES-PA at the lowest of half sen as posted in one of my articles. After consolidation, I have done cost averaging again by buying AGES-PA. It is very difficult to calculate what the average holding cost due to 2 different investments; only can monitor by investment $. Instead of investing RI of 0.2, the $ from selling AGES-OR at half sen is enough to cover the earlier half sen AGES-PA investment and buy more. This lower cost investment is another way to bring down my average cost. Does it make sense?

Note: 5D-VWAP of the Shares up to and including 15 April 2022 (being the last trading day prior to the Price-fixing Date) of RM0.3581 which is lower than 0.03x15. If it reaches RM0.3581, most probably will be my break even cost.
Happy trading and TradeAtYourOwnRisk.

@sting79: At current price, it is only 0.019 (0.285/15) prior to consolidation.
Still a very huge drop for those who bought months prior to the consolidation.

BLee: Hi Bro @sting79, you are correct if you did nothing after the consolidation. Let's say before consolidation of 0.03 x 15 equal 0.45 and pick-up RI of 2 x 0.2, total cost will be 0.85. Average will be 0.28; that will be the present reached price.
The moral of this discussion is the need to act upon news of consolidation and RI.
If whoever have $ to pick-up RI and the access shares, good for cost averaging. If whoever doesn't want to add capital can always cash out after RI news or sell AGES-OR during the five days offer period and reinvest the $. It is just a decision needed to make. There is a lot of chance to buy below the RI price of 0.2??
Happy trading and TradeAtYourOwnRisk

@DoggieInvestor: does anyone here know that Hengyuan's refinery is 40 years old?????

BLee: I have a friend staying just next to ex-Shell PD refinery, saying the refinery was already there in the early 1960?? So is the ex-Exxon Mobil PD refinery. Most PD residents know both refineries well as having relatives working relationships in the refineries. Old is 'Gold'? as having a very regular Technology upgrade? There must be a reason why the 'sold out' to these two new owners besides the need of meeting new environmental requirements and location disadvantage (far away from beach, loading hydrocarbon thro' long pipeline)…

@jagapasar: KUALA TERENGGANU (July 3): The Tenaga Nasional Bhd (TNB) Sultan Mahmud Power Station (SJSM) in Kenyir, Hulu Terengganu is back in operation…

BLee: Hi Bro @jagapasar, many thanks for this piece of info.
To me, this news is worth "the amount of energy generated by hydro could avoid fuel costs of about RM463 million a year, compared to the use of coal as fuel".
Link: https://www.theedgemarkets.com/article/tnbs-power-station-kenyir-back-operation

There are other mitigation methods for diverting the increased cost of coal such as building more hydro stations, solar, etc renewables energy, converting coal fired to gas fired..which is on-going.

Happy trading and TradeAtYourOwnRisk

@Musang King: Extremely well written BLee. Thank you very much for this explanation above.

BLee: Hi Bro @Musang King, thanks for the 'like' and the comment. This article was written months ago, still NO consolidation!!??
Not only that, there seems to be signs of accumulation of shares at 1sen since the drop from 1.5sen to 1sen around 13.06.2022.
Details of trading of accumulation at 1sen:
Date Closed High Low Volume
14-6 0.01 0.01 0.01 13,069,400
15-6 0.01 0.01 0.01 19,633,900
24-6 0.01 0.01 0.01 490,000
29-6 0.01 0.01 0.01 10,260,100

On all the other dates, the selling at the lowest of 0.5sen is very sporadic. As observed, June is really a 'bearish' month, yet Fintec share price hardly affected. I have taken a few snapshots of above details, only do not have the time to write another article.
Caution: The selling queue at 0.015 is a great deterrent for the price to move higher.

Happy trading and TradeAtYourOwnRisk

@JJPTR: AGESON 20:1 reduction ex on Apr 12th. ex price 30c from 1.5c
Now it is 19.5c
Next few months will be 10c
AS more ESOS/RI/PP announced,price will drop further to 2c again.
TAKE YOUR MONEY AND RUN BEFORE 2C arrrive. Now is 19.5c
You will not regret

BLee: Hi Bro @JJPTR, AGESON 20:1 incorrect, it is 15:1. The RI is 2:1 and a subscription of 20sen whereby 3 major shareholders will share a 'ship' of RM10mil worth… You think these 3 major shareholders let the 'ship' sink to 2sen?

@whistlebower99: Operators might goreng down if not easy to goreng up
Either way they will make profit

BLee: Hi Bro @whistlebower99, please 'teach' me how to make profit if you spend RM10mil subscribed at 20sen RI and can earn if you sell below that price?
For ways of gaining with this RI issuance, I have sold AGES-OR and used the $ to buy AGES-PA at 3sen and 3.5sen; in paper gain now. I might post my trade after realizing the gain…So RI and consolidation might be able to make a small profit to compensate for the losses in mother shares prior to the exercises.
Happy Trading and TradeAtYourOwnRisk

@chinaman: We want full liberalisation of power sector like TELCO. monopoly cartel worse than ayam cartel.

BLee: Hi @chinaman, unlike TELCO which only requires pole mounted stations, the power supply needs physical cables and substations to distribute the power. Just imagine all the power line criss crossing over the towns and houses just to have a second choice? Just consider the high infra cost for a new power company, the monopoly of TNB is here to stay. For information, I invested around last Friday's closing price for cost averaging and the good dividend…

Happy Trading and TradeAtYourOwnRisk

@OTB: Sales volume = 10.6 million barrels
Revenue = 10.6*USD130*RM4.38 =6.036 billion
Purchase =10.6*USD108*RM4.38 = 5.014 billion
Gross profit = 1.021 billion

BLee: Hi Bro @OTB, please consider the following details I have extracted from a Google search result:
Quote
What percentage of crude oil is used for fuel?
About 45 percent of a typical barrel of crude oil is refined into gasoline. An additional 29 percent is refined to diesel fuel. The remaining oil is used to make plastics and other products (see image Products made from a barrel of crude oil, 2016). Unquote

The calculation of input/output to refine into gasoline based on using the same value of 10.6 million barrels is incorrect. Tq

Happy Trading and TradeAtYoutOwnRisk

@StartOfTheBull: Another advantages of palm oil are it needs less than half the land required by other crops (such as sunflower, soybean or rapeseed) to produce the same amount of oil. This makes palm oil the least expensive vegetable oil in the world.

BLee: Hi @StartOfTheBull, as mentioned earlier, I am happy Palm Oil price is very profitable now.
Countries which have plenty of cheap and idling land are suitable for agriculture planting, land in Indonesia and Malaysia should be a non-issue. (Observed South Korea and Japan making full use of idling land by the road side and under elevated highway for planting!!, hope to see that in Malaysia due to the food crisis..)
Did the calculation of Palm Oil, the least expensive vegetable oil in the world, factor in the upkeep planting from seedlings to produce the first drop of oil? I doubt it…

Happy trading and TradeAtYourOwnRisk

@calvintaneng: Palm oil takes longer to grow from planting to first drop of cooking oil is 4 to 5 years and after that it will still produce fruit

BLee: Hi Uncle @calvintaneng, I am using the word "gestation" meaning "return of investment" (ROI) only after "birth" and "delicate care" after years only can see the "fruits" of labour. How much money needs to be spent? Fast rotation means fast ROI.
Which is better? I prefer the "cash crop"...

Happy trading and TradeAtYourOwnRisk

@calvintaneng: Actually Calvin is a life long student learning from everybody


And it is my duty to tell facts and truth. Though not all turn out as i hoped but still i happy to see more that is right side than wrong side

BLee: Hi Uncle @calvintaneng, I am also learning from you and everybody else. Since you mentioned hope "to see more that is right side than wrong side"; very much like to highlight that biodiesel is now commercially available from recycled cooking oil of all types.

Link: https://www.wikihow.com/Prepare-Used-Cooking-Oil-for-Biodiesel

https://www.amafiltration.com/casestudies/upcycling-used-cooking-oil-into-biodiesel-with-the-cricketfilter-filtration-system/?gclid=CjwKCAjwqauVBhBGEiwAXOepkcTT6zDeJ3sRnJT4mPenoJL4j2Sa8hQ1JQmPgivXknL40bfTm0vHKBoCfvgQAvD_BwE

And only Palm oil from seedlings to fruit bearing required a long gestation period, others plants and flowers oil a very much shorter planting period. That is another half truth..

Happy trading and TradeAtYourOwnRisk

@Thomas Chan Yeu Wai: Nice article on the concept of dividends leading to cheaper holding costs. Had never look at it this way before.

BLee: Hi @Thomas Chan Yeu Wai, agreed on the concept, but only half the truth..
Question: Where did the dividend money come from? Usually profit making companies can afford to give dividends, that's one plus point in investing in such companies. The dividend is usually from this profit and the share price will be adjusted accordingly…
Growth companies usually don't give good dividends, reserved money for growth purposes…

Happy trading and TradeAtYourOwnRisk

@whistlebower99: Please advise if my interpretation is not correct.

BLee: I can't advise as I am still blur as the calc doesn't seem to match??
Details:
Issue Date 12 Apr 2022
Issue/ Ask Price Malaysian Ringgit (MYR) 0.1500 meaning each AGES-PA used in the calc?

Issue Date 08 Jun 2022
Issue/ Ask Price Not Applicable meaning value of 0.1500 each AGES-PA no more used in the calc? What is the value then?

(i) the conversion price of ICPS of RM1.95 each will be revised to RM1.03 each.
The change ratio has been adjusted to 1.95:1.03, the 13:1 should be reduced correspondingly by 13 x (1.03/1.95) = 6.87:1 if 0.1500 is used in calc. Example: Fintec-PA conversion changed from 16:8 to 11:8 and ARBB PA changed from 20:1 to 14:1 without  the ICPS subscribing price changed after completing RI…

(ii) the cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Share) of RM1.80 each will be revised to RM0.95 each.
It seem the same ratio is been used i.e. RM1.8 x (1.03/1.95) = RM0.95, but the value of RM0.1500 AGES-PA cannot be reduced as cash subscribed credited in the ICPS account?? How is this ICPS cash handled??

I am still learning the criteria of investing in ICPS, therefore willing to take the investment risk.

Happy trading and TradeAtYourOwnRisk.

@whistlebower99: I thinking RM0.15 should be adjusted too.
The conversion ratio remains 13:1
Wait for latest announcement of Profile of securities

BLee: Hi Bro @whistlebower99, will wait for the Profile of securities. RM0.15 is money subscribed by RM0.01 x 15 from consolidation, and cannot be adjusted/diluted. Usually the ratio will be adjusted; for example Fintec PA adjusted from 16:8 to 11:8 with RM0.08 value unchanged and ARBB PA adjusted from 20:1 to 14:1 with RM0.01 value unchanged..

Happy trading and TradeAtYourOwnRisk

@whistlebower99: FOR NEWBIES

No. of outstanding ICPS 254,281,099

Conversion price of ICPS RM1.03

Cash payment by surrendering 1 ICPS for 1 new Share RM0.95

============

Take note of adjusted conversion price for AGES-PA

=============

Very out of money at the moment.

BLee: Hi Bro @whistlebower99, something seems not right as each AGES-PA worth RM0.15 and RM0.95 plus RM0.15 is NOT RM1.03??

The other conversion method by exchanging AGES-PA will be RM1.03 divided by RM0.15=6.89

Present AGES-PA price of RM0.035 multiplied by 6.89=RM0.24.

Therefore, the second method is NOT really 'very out of money'.

Happy trading and TradeAtYourOwnRisk

@whistlebower99: FOR NEWBIES

Profit/(loss) attributable to ordinary equity holders of the parent -12,332,126,000
https://www.klsescreener.com/v2/stocks/financial-report/0116/2022-03-3...

Huge quarterly loss of RM 12 BILLION !!!

=============
Company fund continue to be depleted
Will directors raise more fund via shares issuance to PP, ESOS or RI ???

BLee: Hi Bro @whistlebower99, RM12B or RM12M? It make 1,000 times different. The correct version is in the PDF file attached to the announcement, as below:

REVENUE: RM15,528,020
COST OF SALES: RM(8,930,214)
GROSS PROFIT: RM6,597,806
OTHER INCOME RM478,856
OTHER OPERATING EXPENSES: RM(18,701,193)
PROFIT FROM OPERATIONS: RM(11,624,531)
(LOSS)/PROFIT FOR THE PERIOD: RM(12,038,126)
Cash and bank balances: RM74,129,470
TOTAL ASSETS: RM286,323,742
Total Liabilities: RM51,236,441

As shown in above data, cash in hand is more than total liabilities and total assets is more than 5 times of total liabilities. What is the chance of PP, ESOS or RI?

Last fundraising; issuing 2,044,266,042 ICPS and 3,066,399,051 Warrants D on the ACE Market of Bursa Securities on 3 December 2020.
No PP, ESOS or RI since then despite all the speculation..
Happy trading and TradeAtYourOwnRisk

@Musang King: I think BLee also concur with me. He recently posted an article he wrote " I am Speechless". Doing so many of these SIS, PP and ESOS make investors to shy away from their counters and thus making their share prices going lower and lower. It is worrying if Fintec intends to do their consolidation like many of their buddies are doing one day. Do it only when such exercises really benefit the shareholders and the company. Do it with conscience of compassion, care and fairness.

BLee: Hi Bro @Musang King, I concur with you on investors to shy away from this counter without showing any results on usage of accumulated interest free funds.
IMHO, let me explain further:
- There are too many tranches with lower issuance prices due to market conditions. If the market improves, will it be an opportunity to invest at such a low price? I am speechless as my investment at 2sen is still NOT the lowest.
- Investment in a very low debt counter with NTA a few times higher than the market price, is it considered a low risk investment? My opinion is yes.
- The argument of consolidation will push up market prices and the risk of losing market price could be true. Bear in mind consolidation will reduce the NOSH and increase in NTA correspondingly. No dilution involved.
- What is dilution? To me, dilution is an increase of NOSH at a lower price than NTA, therefore a decrease in overall NTA. PP and ESOS issuance at lower prices than NTA is a good example. What if we can invest at this low PP and ESOS price?

I do not have the answer to some of my own questions. It is a risk we have to take, therefore TradeAtYourOwnRisk.

Is Palm oil food? I think Palm oil is an ingredient in food preparation; there are other alternatives to Palm oil.

Interesting article of without fuel, no food can be prepared.
https://klse.i3investor.com/blogs/kianweiaritcles/735271.jsp
Extract from the article:
#"Nearby, a long queue had formed in front of a shop selling cooking gas cylinders, the prices of which have soared.
"Only about 200 cylinders were delivered, even though there were about 500 people," said Mohammad Shazly, a part-time chauffeur who said he was standing in the line for the third day to be able to cook food for family of five.
"Without gas, without kerosene oil, we can't do anything," he said. "Last option what? Without food we are going to die. That will happen hundred percent."#

I would not take any side, both are equally important. There are always alternatives, due to human ingenuity, most problems can be solved.

@kfliau: @whistlebower99 Yes I noticed it. What I can't understand is since the major shareholders forked out so much to subscribe the ri, it will be disastrous to them to allow the price to fall so low after ri. Baffling

BLee: Hi Bro @kfliau, agreed with you, so Baffling. We can't compare an Orange with an Apple.
All the other stocks mentioned by Bro @whistlebower99, did most of the stocks have a record of more than 20 quarterly profits?
Did the majority shareholders make an undertaking not selling any shares prior to the RI completion?
Did the majority shareholders make an undertaking to subscribe up to RM10 million worth of RI shares picking up the unsubscribe shares?
Happy trading and TradeAtYourOwnRisk

@RJ87: Let me offer you another point of view. Push up is not FOC. And no guarantee any extra return from capital risked. Safer thing to do is just consolidate and let it slide while selling whatever ICPS, WA and etc etc that they got for free.

BLee: Hi Bro @RJ87, please allow me to clarify that ICPS needs to subscribe with $, not free as stated.
Please see details:
"RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,163,208,800 ICPS AT AN ISSUE PRICE OF RM0.08 PER ICPS TOGETHER WITH UP TO 116,320,880 FREE DETACHABLE WARRANTS IN FINTEC ("WARRANTS B") ON THE BASIS OF 10 ICPS TOGETHER WITH 1 FREE WARRANT B FOR EVERY 5 EXISTING ORDINARY SHARES HELD BY THE ENTITLED SHAREHOLDERS OF FINTEC AT 5.00 P.M. ON 2 NOVEMBER 2017" meaning paying 8sen will get 1 ICPS and paying 80sen will get 1 warrant B. The word 'free' is just a gimmick..
Happy Trading and TradeAtYourOwnRisk

@ahbah: How can we prepare ourselves to face recession ?

BLee: A very good question. The answer could be invest in recession proof assets such as:
-Education or Skill if still young..
-Properties in high growth areas as location, location, location is very important. Most properties are already time tested as shown by double or very much more increases in trading price over the years.
-A basket of foreign currency, SGD is a good choice. Bear in mind recession could be worldwide affecting all currencies due to Pandemic, Global warming affecting crop shortages and Countries Conflict.
-Invest in some stocks at a very 'low price' undervalue as the downside will be very limited and with high NTA. Switch stocks when necessary..
Just a few suggestions for discussion purposes only as I am not an Economist.