Thank you whistleblower99. For your constant reminders to all newbies. The recent Mitronic exercises were quite successful at this point of time if we were to take win now. I wonder anybody did a case study on Mitronic shares before and after the exercises. MSWG did gave out the warning to all minorities and newbies a few days back. The President said, speculation is legal while manipulation is illegal. But overall, many who cabut by now would have got a huge windfall already. Always TAYOR.

https://www.theedgemarkets.com/article/metronic-rights-subscribers-get-unusual-windfall-warrants-price-surpasses-mother-shares

Good pineapple123. Investors who come in now can buy at half a sen and one sen. They should not be guilty as they also can earn it if the price goes up later. There is nothing wrong to buy at whatever prices. It is not a bad deed. Maybe, M55555 is referring to the insider people who manipulated the prices and make them fall. To the new investors who bought in at the lowest price, it is indeed their good timing and also blessing.

pineapple123, the reasons why Fintec fell are obvious and many. There are :
1) bad comments and negative gossips about Fintec whenever those investors loses money.
2) bad market conditions as KLCI keeps falling after GE14 till now,
3) many additional listings like PP, SIS and ESOS (but these are ways how public listed companies can get additional sources of fundings to their companies they are running),
4) Covid19 Pandemic & MCO reason,
5) those investments that Fintec bought also fell too thus giving huge paper losses to Fintec accounting reports. I think this was one of the major reason because Fintec paper losses were huge - more than RM980 Millions as reported in the Quarter of June 2021 ,
6) no other good news even the new venture into rubber glove making becomes bad news.
7) World market also falling recently due to Russian Ukraine War, Inflation, Recession and Stagflation etc etc.

We all should bear our Right Understandings. I feel sorry too to those who really bought a lot during the early days before Fintec fell to 1.0 sen. These investors include those who took up PP, SIS and ESOS as well.

In fact most Fintec investors are all very angry because they all lost a lot. This is a fact as at now.

Now at this juncture, what we can do is either sell at today's price or hold on to the shares we have bought and pray hard for better days to come.

Good Luck and also TAYOR everybody, including me, an investor too.

Excellent post of Fugitive Soh Chee Wen and his deeds. Thank you bro.Good123. We are equally concerned about our current penny stocks manipulations in Malaysia. Yes. Do invest carefully brothers and sisters of the Stock Market. Our money are hard earned money while theirs are borrowed money, manipulated money or easy earned money whatever. Please be very careful in our investments. Good companies we must also give our appluases and credits while bad ones, we should help to blacklist them openly. So far, I believe Fintec is okay compared with others that I cannot mention bacause I have not review them. Sometimes, we cannot simply group them all together as bad. We must be sure and find out more through studies, due diligence and dialogs with the investors. Putting blames on them and saying negative comments against politicians and corporate leaders are very easy. But if the comments are not true, you achieve your own selfish desires and agendas but you have also done a lot of harms, bad karma and dishonesty in the eyes of the Above. Lets be fair if you want to cari makan, we must cari makan honestly. Directors who have bad intentions and bad deeds will face their bad karma and punishment now, later or forever. I too was a bit angry when I see Fintec market share prices kept falling down but I keep investing to level down my average cost for Fintec, hoping one day, Fintec will go back up and I will recover back all my paper losses. I have done my due diligence on Fintec quite awhile. Overall Fintec is still alright as they normally spent their funds towards investing also, like you and me. As you all know, Malaysian Stock KLSE is not performing. So do all of our other portfolio. Fintec holds some portfolio too and Fintec equally suffers the same like us. So be understanding and let our KLSE bounces back, we must wait. Good days will come back one day. Nothing is permanent. Everything is impermanent.

Even the Private Placement Subscription of up to 1,205,827,550 new ordinary shares in Borneo Oil Berhad by Macquarie Bank Limited cannot help to uplift Borneo Oil share prices at all. So, in share investments, we truly need to keep them for long term in order to gain in the share market.

Thank you Bro.BLee. You are excellent. Keep posting for I am learning a lot from you.

Yes. Thanks Bro BLee for updating me removing my doubts about Fintec share performances. Today, I did took a look at Borneo Oil Ltd share performances. They are not performing well either. Their market shares drop spontaneously after each and every ESOS or PP they exercised during post MCO periods despite the Borneo Oil Group is doing very well with many years of profitability. The ESOS and PP really diluted their NTA and their NOSH balloon to 8.342 Billions. Their director Datuk Joseph Lee @Ambrose even helped to acquire great number of shares in millions right from 2020 to 2022 and the group even bought back millions and millions of its own shares as treasury shares when their shares were dropping. Yet today, Borneo Oil shares are traded at 2.5 sen despite having an NTA of 11 sen. This proves what BLee said is correct. BLee said "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." and "The discount of around 10% on 5days VWAP of each issuance will definitely lower the trading price after the issuance".

Notice QR or AR are always 3 months late. Thats normal for all listed entities. If the entities whether listed or private enable to produce an AR or a QR within 3 months, credits should be given to them already. The only problem I see is, they choose their Standardised Annual or Qtrly Reports as required by the Bursa but nothing more. Many transactions with names of staffs, directors or related companies are hidden or suppressed to the maximum like secrets or trade secrets as you mentioned, "not obliged to mention". To me, Accounting is good and fine, but all in summary and standardized form. Even most Public Auditors do likewise.

Many thanks to BLee for your kindest helps in clearing most of my doubts reqarding my questions 1-6. I hope your answers will help to clear many of our Fintec investors doubts too. Sorry for my mis-understanding for my Q1 to 5. The answer for Q6 is it is not a mandatory practice for directors to own any shares In the company they are serving and if 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.

Now, I have done my research quite in detail on Fintec by now. I have these questions in my mind which are alarming according to pineapple123. They are as follows:
1. Why Fintec shares dropped so low but Fintec directors not doing anything to help?
2. Why issue so many ESOS and SIS without naming the receipients?
3. Private Placements done in the past saying they were independent private investment entities cannot be revealed at that moment of placement. Later, it was conveniently forgotten.
4. Does it not create much suspicion amongst investors saying shares will be resold back to the public market after each and every ESOS or SIS exercises . There were evidences shown that after every ESOS or SIS issued, the market prices of Fintec dropped lower and lower until it is the lowest today?
5. If there are so much Cash in hand and Short Term Investments in the company, why not use them to support their own shares of Fintec by buying back their own shares rather than buying other public listed companies shares like Seacera, Saudee, Focus Dynamics, unquoted investments etc etc?
6. Why directors never own any shares despite after having so many ESOS and SIS exercises?

These are the questions bordering me after doing my research . Eventhough overall Fintec position is still solid and fine up till today but their share prices keep on dropping until investors now all losing their faith and confidence towards Fintec and its directors. Fintec directors got to wake up now as they are getting monthly fees and allowances for so long already.

pineapple123: @Musang King, putting the shareholders aside, do you know why the price from 19c slashed to almost 0.005c??

Is this not alarming to you?

Gathering from all the Listing Announcements from 2012 to 2022, The highest price paid for RM0.19 came from those early Warrant A holders who paid 19 sen each to convert their Warrant A to Asiabio Ordinary Shares in the year 2015 only. There was only 1 instance where 27.665 Million shares took up their ESOS to pay up Fintec RM0.165 a share on the 8/6/2017. Due to weak market sentiments plus very bad feed backs and negative comments on Fintec performances, Fintec shares dropped from the high of RM0.18 right down to RM0.005 today. The issuances of PP, SIS,ESOS and RI were all based on the last 5 days weighted averages of the Market Prices of Fintec from time to time. So, as at today Fintec still issue ESOS at the price of 1 sen because the 5 days weighted average is still around 1 sen. The last day closing was RM0.005 and this too has impact on the issuing price of ESOS if Fintec has to issue ESOS around these few days. There is nothing to be alarmed of as the prices are determined by the market forces ie. supply and demand. Today those who sell at RM0.005 are really at the lowest price and I believe they are forced to sell due to their own shortage of fund or lack of confidence in Fintec anymore.

Today, there are still approximately 27.5 Million Shares available for Sale at 1.0 sen a share at the close of the Friday Market yesterday 15/7/2022. This 1 sen may no longer be available if the market have confidence to snap it up. The current Market Sentiments are very bad now due to many reasons. The War, Pandemic, the Recession and Inflation every where. Fintec price may even drop to RM0.005 the lowest price in Malaysia but luckily, there are many half sen supporters waiting to buy. The number is huge, roughly 600 Millions a day waiting to queue at RM0.005 versus the selling queue of RM0.01 for approx. 27.5 Million shares to be traded.

TAYOR. My friends. Wishing you all a very good weekend.

Share capital Movements of FINTEC GLOBAL BERHAD - 2018 TO 2022.

NOSH 2018 was 525,815,172
In 2019, :
(a)issue 85,189,950 for conversion of 125,654,300 ICPS. (@ 1.3PS::1 Ord.Share)
(b) issue 104,970,900 Ord.Shares @ RM0.04 to RM0.055 under SIS
(c)issue 98,325,783 Conversion of 196,651,566 PS (2PS:1Ord.Share)

NOSH as at 30 April 2020 was 814,301,805

Between year 2020 to 2022 :
a) exercised 701,452,600 Ord Shares ranging RM0.028 to RM0.093 Under SIS
b) exercised of ESOS 500,000,000 Ord.Shares under ESOS @0.033 TO 0.055
c) converted 182,722,966 ICPS to 132,889,430 @ PS 1.3:1 Ord.Share)
d) Private Placement 364,254,000 PP FROM 0.020 TO 0.023
e) Rights Issue with Warrants C Total RI 1,432,718,739 RI @ 0.08
f) exercised of Warrants C 48,000 Warrant C @ 0.08

31 March /2021 NOSH was 3,945,664,574

June 2021 - ESOS FROM 0.033 TO 0.038 260,000,000
July 2021 - ESOS FROM 0.025 TO 0.028 330,000,000
Aug 2021 - ESOS @ 0.023 100,000,000
Sep 2021 - PP FROM 0.020 TO 0.023 595,132,900

NOSH 30/6/2021 = 5230,797,474 as Reported in the AR2021.

Nov 2021 - ESOS @ 0.018 200,000,000
Dec 2021 - ESOS FROM 0.010 TO 0.015 364,000,000
Jan 2022 - ESOS @ 0.010 88,000,000
Feb 2022 - ESOS @ 0.010 20,000,000
Apr 2022 - ESOS @ 0.010 20,000,000

SUMMARY OF TOTAL OUTSTANDING :
NOSH 30/6/2022 = 5,922,797,474 ( Paid up ranging from RM 0.01 to RM0.16 from commencement till now )
NOPS 30/6/2022 = 224,308,135 ( Pd up 0.08 already in Dec 2017. Expiring 4/12/2027 can convert anytime 1.3:1 Ord.Share but oblige to pay you back if Fintec happens to liquidate before expiry date )
NOWA 30/6/2022 = 170,092,828 (Expire 19/4/2024 @0.19 each - 22 Mths away from today)
NOWB 30/6/2022 = 116,443,428 (Expire 4/12/2022 @0.10 each - 5 mths away from today)
NOWC 30/6/2022 = 1,146,126,828 (Expire 20/12/2023 @ 0.08 each - 18 mths away from today)

Metronic Rights Subscribers Get Unusual Windfall as Warrant’s Price Surpasses Mother Share's

edgeinvest

Publish date: Fri, 15 Jul 2022, 08:38 AM


Metronic rights subscribers get unusual windfall as warrant’s price surpasses mother share's
KUALA LUMPUR (July 14): Subscribers to Metronics Global Bhd’s RM77.97 million rights issue, at six sen per share, appear to have an unusual opportunity to make attractive profit from the free warrants that came with their subscriptions.

Metronics Warrant-B rose sharply upon being listed on Bursa Malaysia on Wednesday (July 13), opening at three sen apiece and closing at 11.5 sen.

The warrants jumped further to an intraday high of 39.5 sen on Thursday, before paring gains to settle at 21.5 sen.

This compares to Metronic’s closing share price of nine sen, up two sen or 28.6% on Thursday. It was the most actively traded counter on Bursa Malaysia, while the Warrant-B was the third most actively traded counter.


The group’s Warrant-B can be converted to new shares at an exercise price of six sen.

An investor who owned 100 shares in Metronics before the rights issue would have been entitled to subscribe to 600 rights shares and 200 free warrants for RM36 or six sen per rights share.

If the 200 warrants were divested at 21.5 sen each or RM43 on Thursday, the investor would have made a profit of RM7, or a 19% gain from each warrant sold.

Metronic’s rights issue, which was 99.88% subscribed, was part of a series of corporate exercises proposed in November last year. It also involved a 10-into-one share consolidation, shrinking the group’s share base to 216.86 million on May 23 from 2.17 billion as of Nov 5 last year.

According to Bloomberg data, Metronic’s shares fell 47% to eight sen on May 23 when it completed the share consolidation, from 15 sen on Nov 19 last year when it proposed to undertake the corporate exercises.

Metronic proposed to raise between RM10 million and RM121.97 million with chief executive director Hoo Wai Keong and non-executive director Datuk Kua Khai Shyuan’s undertaking to subscribe in full to their entitlements. Hoo owned a 0.05% stake in Metronic before the rights issue while Kua owned 0.02%.

The group, which is involved in the provision of hardware and software required for buildings' control and management, also proposed to diversify into the solar energy business.

It is worth noting that these proposals came less than two months after Metronic completed an RM22.71 million private placement in September last year, via the issuance of 500.43 million new shares, equivalent to 30% of its share base before the placement.

Subsequent to the rights issue, several parties emerged as the group’s substantial shareholders, including Cita Realiti Sdn Bhd, which subscribed to 287.8 million rights shares giving it an 18.979% stake; Sanichi Technology Bhd with a 13.068% stake or 193.67 million rights shares; BCM Alliance Bhd (through BC Medicare Sdn Bhd) with a 6.66% stake or 101 million rights shares; and Bumi Resources Hub (M) Sdn Bhd with a 5.56% stake or 84.33 million rights shares.

Metronic's non-executive director Kua is the single-largest shareholder in Sanichi as at end-March this year with a 6% stake, followed by Cita Realiti’s 4% shareholding. BCM Alliance also owns a 1.8% interest in Sanichi according to the latter’s annual report for fiscal year ended Dec 31, 2021.

BCM Alliance’s annual report also shows that Sanichi was its third largest shareholder with a 6.1% stake

On Thursday, Metronic disclosed that another Bursa-listed company Fitters Diversified Bhd, through Fitters Property Development Sdn Bhd, has also subscribed to 201 million rights shares, giving it a 13.26% stake.

Cita Realiti ceased to be a substantial shareholder of Fitters on May 13 following a divestment of 25.29 million shares in the open market, shortly after emerging as substantial shareholder on March 21 with a 10% shareholding or 49.95 million shares via the subscription to 47 million private placement shares.

Sanichi’s group managing director Datuk Seri Pang Chow Huat, meanwhile, also owns a 7.9% stake in Fitters Diversified as on May 31.

Source: TheEdge - 15 Jul 2022

What is working capital according to the Bank of America.

You may not talk about working capital every day, but this accounting term may hold the key to your company’s success. Working capital affects many aspects of your business, from paying your employees and vendors to keeping the lights on and planning for sustainable long-term growth. In short, working capital is the money available to meet your current, short-term obligations.

To make sure your working capital works for you, you’ll need to calculate your current levels, project your future needs and consider ways to make sure you always have enough cash.

How to calculate working capital

You can get a sense of where you stand right now by determining your working capital ratio, a measurement of your company’s short-term financial health.
Working capital formula:
Current assets / Current liabilities = Working capital ratio
If you have current assets of $1 million and current liabilities of $500,000, your working capital ratio is 2:1. That would generally be considered a healthy ratio, but in some industries or kinds of businesses, a ratio as low as 1.2:1 may be adequate.
Your net working capital tells you how much money you have readily available to meet current expenses.

Net working capital formula:
Current assets – Current liabilities = Net working capital
For these calculations, consider only short-term assets such as the cash in your business account and the accounts receivable — the money your customers owe you — and the inventory you expect to convert to cash within 12 months.

Short-term liabilities include accounts payable — money you owe vendors and other creditors — as well as other debts and accrued expenses for salary, taxes and other outlays.

Pineapple123, not slashed but only following the 5 Days Trading Average Price of the Current Share Market. Currently, the 5 Day average price is 1-0 sen.

https://www.investopedia.com/ask/answers/052815/how-does-private-placement-affect-share-price.asp

Please read the above listing requirements of Bursa Malaysia. Please check if Fintec listings of SIS, ESOS and their Private Placements are in line with By-Laws and the Listing requirements. To what I observe so far, the listings were made known and announced periodically but the names of the employees and the directors were never mentioned at all. There were instances where some of the top management names were announced in the Annual Report 2017 in respect of SIS but there after, there is none. Is this practices fair to the Shareholders?

https://www.bursamalaysia.com/regulation/listing_requirements/ace_market/listing_requirements

YeahLoo : Why did SC allow them to issue so many ESOS? more than 10 times of the NOSH!

They issued many trances of SIS that can be up to 30% of their Total NOSH. But not all SIS offers were taken up as the prices of Fintec kept falling and not improving. Many SIS takers also got burned as they took up the offers prices ranging from above 2.5 sen to 16 sen a share. So many SIS offers were lapsed and were not accepted.
The most ESOS offers accepted was 500,000,000 shares in 2020.
There were also many Private Placements deal done to inject funds into the company but many of these deals were done at the much higher prices than now.

Callmejholow : why Mara hold so much?

My opinion : They could be holding so much or else why there are 2 Mara representatives holding Chairman and Directors posts in Fintec since 2013 till now. The rest of the directors could be representing CPE Growth and Sanston Financial Group Ltd.

TAYOR. Do your own investigation too before investing.

WHAT IS THE LOGIC THAT WARRANT-B PRICE NOW IS 3 TIMES OF THE MOTHER?

Pineapple123 : Is this against Bursa ruling for not disclosing the internal names who hold Fintec shares ?

I think they (these institutional investors) received the permissions before they can do that. They for reason known to them may request SC and Bursa blessings not to disclose their names in the Top 30 List of Shareholders. From what I gather so far from their announcements for filing of Notices of Interests as well as Notices of Persons Cease of Interests records, I estimate that the following institutions still hold the approximate percentage of shares in Fintec as at 30/6/2018. They are as follows:
1. Adamas aka CPE Growth aka China Private Equity approximately 27.7 %
2. Sanston Financial Group Limited 9.7%
3. Deutshe Bank 4%
4. Pelaburan Mara Berhad 21.6%
5. Goldman Sachs 3.3%.
Total Majority Shares approximately 66.3% and the rest are shares holding by the Minorities like you and me totaling 33.7%. These estimations may not be accurate or correct as I am guessing here and there. The time frame also changed from 2018 to 2022 now. Those were 30 June 2018 figures detected from the 2018 annual report together with their Notices for Persons with Interests and Ceasing Interests reports up to 2018 .

The above are still holding their shares until now even though they did mentioned as "Notice of Person Ceasing Interest" before. These institutions still hold shares but do not want to be mentioned in the Fintec Annual Report. If they are not there holding the shares, who actually appointed all these Mara caretakers as Directors and Chairman of Fintec until now. Who appointed Tan Sik Eek, Ong Tee Kien, Mark Chew Shin Yong and Chu Chee Peng to represent their interests in Fintec?

Deutsche Bank AG
The Goldman Sachs Group,Inc.
CPE Growth Capital Limited
China Private Equity Investment Holdings Limited
Pelaburan MARA Berhad

Please name the loan receipient. Initiate legal action without waiting. Make sure, whoever approves must be responsible as a Guarantor or else do not lend out.
1 minute ago

Use the money to buy back Fintec shares instead.

TOTAL NOSH TODAY IS 5,922,797,474 TO BE EXACT. (INCLUDING THE LAST ESOS OF 20 MILLION IN APRIL 2022)

Finally, I found out that those still holding substantial shares in Fintec Global Berhad are as follows.

Deutsche Bank AG
The Goldman Sachs Group,Inc.
CPE Growth Capital Limited
China Private Equity Investment Holdings Limited
Pelaburan MARA Berhad

Now, we should understand why there were so many PP, SIS and ESOS and who were the investors from 2017 to 2021. The huge number of Warrants C holders ( estimated 90.34% of the outstanding Warrants C ) are from them which names were not mentioned, same as their names were also purposely unlisted in the Top 30 Shareholders every year.

According to the 2021 Annual Report, Only 30 persons or organisations were reported as Top 30 Shareholders holding 732.762 Million shares but the balance of 67% Shareholders holding 3.992692 Billion Shares were not reported in the Annual Report as part of Top 30 Shareholders. WHY ARE THEY HIDDENED IN THE REPORT? ADAMAS FINANCE ASIA LTD was reported as holding 0.61% of the shares which comprised of 31,838,166 Shares only but was NOT LISTED inside the List of Top 30 Shareholders. Who are actually the Balance of 67% acting or holding the shares behind the curtain? Sanston Financial Group Limited was reported as holding 69,838,200 Shares representing 1.335% that was reported as 2nd highest Top 30 shareholders. Other than Sanston, the rest of the 29 were retail shareholders. Based from my observation above, around 67% of the total shareholders (hidden one) are supporting these appointed Directors for many years already. From my opinion, I believe MARA is one the HIDDEN MAJOR SHAREHOLDERS as Fintec continuously using Datuk Seri Abdul Azim Mohd Zabidi as the Chairman and Director. Another Director who also represented Pelaburan MARA Berhad was YM Tengku Ahmad Badli Shah who served Fintec since 2014 till 2021. He resigned from Fintec on the 12 Jan 2022 after he got promoted and appointed as The President and CEO for The Agro Bank Berhad on the 5th of Jan 2022. Another prominent UMNO figure who served Fintec Group was YB Datuk Nur Jazlan bin Tan Sri Mohamed from 2013 till 2015 before Dato Seri Abdul Azim was appointed until now. This clearly show UMNO and PMB ( MARA ) play a very important role in our Fintec Global Berhad's management. Now, I understand why all the current directors do not hold any share ( except Mr Tan Sik Eek ) in the company.

Extremely well written BLee. Thank you very much for this explanation above.

From my additional observation on the ownership of the outstanding warrants, only Warrant C reported a group of shareholders holding 90.74% of Warrants C comprise of 1,039,941,017 units. However, Warrant A and B have no big figures to show. Same goes to the outstanding Preference Share holders. Only Warrant C has this big numbers.

NOSH - 2013 was 420 Mil.
NOSH - 2015 was 866.7116 Mil.
In 2016-Par Value Reduced to RM0.05 from RM0.10 under Capital Reduction,
NOSH - 2017 was 2.889 Bil.
In 2020 - Rights 1.971 Bil. @ RM0.08 but only 1.146 Bil subscribed.
2017-2021 - Add SIS and ESOS, NOSH ballooned to 5,230,797,4747 shares as at 2021.
Today 2022 - Total NOSH 5.923 Billions

TRUE

Consolidate 10 to 1, after excercising and getting their right issues money plus PP 30% of NOSH. Back to square one again. How much is the right issue per share? How are their shareholders going to feel?

Dato Seri Abdul Azim, Tee Kein, Tengku Ahmad Badli Shah and Chu do not own big blocks of shares in Fintec Global. A check on their backgrounds and Bio-Data found they are all Professionals, well qualified and experienced in public listed companies and its management. The only worry we have is that they do not own any shares in FINTEC which is very uneasy to the Fintec Community and Shareholders. Fintec shares are now traded at the lowest of 1-0 sen. If they do not buy now, when do they want to have shares in the company. They must put their Trust to the Companies they are looking after by buying some shares and become a small shareholder at least to bring some confidence back to us as Minority Shareholders.

THE MALAYSIAN RESERVES WROTE :

Fintec Global first caught the public eye when it became a substantial shareholder in Seacera Group Bhd after acquiring 38.8 million shares or an 8.09% stake in the latter for RM18.59 million in November last year.

For the financial year ended March 31, 2020 (FY20), the group posted RM226.69 million net profit compared to RM40.02 million net loss in the previous year.

Its annual revenue rose 32.94% year-on-year to RM20.42 million, from RM15.36 million in FY19.

The increase of profit was mainly due to mark-to-market gain in the group’s long-term marketable securities, Fintec Global noted in its exchange filings.

The group added that its investment in marketable securities increased by RM287.08 million or 2.9 times to RM385.09 million as at FY20, against RM98.01 million in FY19, which was mainly due to fair value gain on quoted securities.

In addition to the existing investment portfolio in solar energy, engineering, food and beverage, financial and information technology, property investment holdings, manufacturing of ceramic tiles and property development, the group is seeking opportunities to invest into healthcare equipment manufacturing and/or trading business.

“The group intends to focus on the personal protective equipment (PPE) segment in view of the increase of global demand in PPE since the outbreak of Covid-19.

“The group intends to take advantage of this opportunity to tap into a growing segment to maximise shareholders’ return,” Fintec Global stated in its recent annual report.

As such, it is still actively examining several potential investments and incubation projects, and will be making disclosures in due course.

Fintec Global’s board of directors comprise independent non-executive chairman Datuk Seri Abdul Azim Mohd Zabidi, independent non-ED Ong Tee Kein, non-independent ED Leung Kok Keung, non-independent non-ED Tengku Ahmad Badli Shah Raja Hussin, senior independent non-ED Chu Chee Peng and non-independent ED Tan Sik Eek.

Abdul Azim, Tee Kein, Tengku Ahmad Badli Shah and Chu do not own big blocks of shares in Fintec Global.

However, Tengku Ahmad Badli Shah represents Pelaburan Mara Bhd which holds about 2.26 million direct shares in the investment group.

https://focusmalaysia.my/a-misunderstood-stock-fintec-global-clears-the-air-about-its-very-existence/

MISUNDERSTOOD STOCK - FINTEC GLOBAL BERHAD.

The glove factory is yet to begin eventhough when the covid19 started, the market was full of blessings and enthusiasm that such a glove manufacturing plant is very timely and profitable. But due to Chinese quicker swinging action in establishing these kinds of glove manufacturing to enter and compete in the world supply, even Top Glove, Supermax, etc were caught by surprise with their pants down. Chinese saying " Our Destinity somehow are all destined by God above, no matter how best we can calculate, we cannot beat the destiny of the God Above". So, we are lucky we only built the factory for future use or future development. God bless. Not much is lost as at now as time flies, schedule of production is not accomplished. We should wait and see how things go. Building that Chemor factory for future use may be timely for other uses other than glove manufacturing processes. Not all are wasted yet. Be patience. Time will tell.

Maybe, AT our sister company also suffers the same fate as the above. They may continue or may change their original plan to do other things as time goes. Industrialisation never stop and maybe Fintec may sell our factory away to AT for better use since AT is also in the field of Engineering and OEM parts Manufacturing. My opinion only.

True, M55555. Looks like its difficult to gather so many ikan bilis together taking consideration that Fintec paid up NOSH is so huge. I agree with you.

TQ Jimmy888 and M55555.

As I observe, I opine Fintec share prices are at the lowest now and there shall be no more going down to the last price of 0.5 sen ( minimum price to transact in the Market ) unless there is again another round of panic selling due to another stock market crash or forced selling. Buying Fintec now at 1 sen is the safest bet and I shall be glad to buy in more if I am still capable and the bidding price of 1 sen is still available . Happy Trading and Good Luck to everyone here. Golden Opportunity like this only comes once in a Blue Moon.

I strongly believe one day, Fintec shares can go up back to 10 sen or more a share if there is a Market Rally in the future. Remember, in 2020-2021, our Fintec NTA reached above 70-80 sen a share. It happened in 2020, but it fell to 5 sen now all because Fintec follows the current fair value market valuation method under the Malaysian Financial Reporting Standard 13 Fair Value Measurement (MFRS 13) as required by the Malaysian Accounting Board Standards rather than using the old Historical Cost or Net Tangible Assets (NTA) method to do their Accounting Reports.

Unless, all companies go back to share consolidation rather than share splitting practices. Now, you all should roughly understand why there are so many of penny stock shares nowadays.

Those days in 1996, all shares listed were either RM1.00 or 50sen a share. Later, many counters changed their par value denominations to 20 sen or 10 sen a share. Now. After 2016, all share capital no longer needed to follow the par value and it is now following no par value paid up share capital like the American counterpart. However, there are still many old and conservative companies still using the par value of RM1-00, 50 sen , 20 or 10 sen a share. So, with the new ruling by our authorities, companies now are open and need no par value to follow which are confusing and misleading. We no longer can go back to strike RM5-00 a share like in those days in pre-1997 era. Those were the days. They are over.

Now its the time to invest into Fintec at 1 sen only. Opportunities like this do happen once or twice in a life time. As you all know, Fintec shares are now at its lowest amongst all KLSE shares. Of course there are many other counters that we can invest but their prices are still double digits or triple digits which I would not touch, because of fear they all would fall to 1 sen like Fintec which is possible. What do you all think? Wait to see or start investing now for the future. Fintec fell to one sen was because of over issuing of ESOS and PP in the last 2 years or else Fintec shares would stay at 10 sen a share if without ESOS, SIS or PP issues. Why I say Fintec should be around 10 sen a share by just looking at the current Warrants and ICPA expiring values. Fintec itself has not much businesses except heavy investments in other public listed shares. If one day, Malaysian stock market wakes up like those days in 1996 where all stock shares were traded above RM5-00 a share, I am dreaming it would happen again in this life time. Hahahahaaaa. Someone says I am dreaming......

Correct. ESOS simply give Fintec shares a killing, like no value already. Fintec Management, please note this. We investors hope Fintec would buy back all the 1 sen shares available in the KLSE today. 66 millions waiting to sell. What Fintec is waiting for? Fintec worth is 5 sen a share but market price is only 1 sen.

Today Fintec Counter ranking No.1 in term of volume traded. Total Volume 154 millions shares traded at 1 sen today. Cheers.

I am taking advantage of today's weaknesses to add more Fintec shares to my portfolio. Wish me Good Luck. Wishing everybody Good Luck too.

In fact, there is nothing to be alarmed with. All stocks are badly beaten today across the Board. Most Banking stocks suffered double digit losses.

The Star reported today:

Glove makers are also facing higher production costs.

Top Glove’s officials pointed out that the industry continues to face rising cost of production pressure due to global inflation and the Russia-Ukraine conflict driving up oil prices.

Kenanga Research points out that Top Glove will be unable to fully pass on the cost increase due to a few reasons.

One is the current oversupply situation which is expected to remain challenging, and another is the reduced economies of scale arising from volume that is less than optimum, which in turn is occurring due to the soft demand.

It points out, “Glove players are experiencing margin erosion as raw material costs are not adjusting down as fast as ASPs.”

Other glove companies are also seeing declining numbers.

Hartalega Holdings Bhd reported a net loss of RM197.9mil in the fourth quarter ended March 31, 2022 (4Q22) from a profit of RM1.12bil a year earlier.

Kossan Rubber Industries Bhd posted a 91% plunge in net profit to RM90.1mil in 1Q22 ended March 31 from RM1.04bil a year ago.

Supermax Corp Bhd’s net profit in 3Q22 ended March 31, meanwhile, fell 98.71% to RM13.01mil from RM1.01bil.

Top Glove officials, however, reckon that global glove demand will improve with the transition of Covid-19 into the endemic phase as gloves remain an essential item in the healthcare sector.

The deferring of expansion plans by major players will also help ease the oversupply situation and help achieve a demand and supply equilibrium, the officials say.