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0.08   0.00 (0.00%)  0.075 - 0.08  6,905,800
24,988 comment(s). Last comment by sausagex99 at Jan 15, 2021 3:45 PM
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101 posts

Posted by alan123 > Jan 10, 2021 12:09 AM | Report Abuse

Why you ask this kind of funny question? Read some announcement and skip some announcement?
In bursa announcement it mention Not offered to director. Or you telling us Tan Sik Eek not director of FINTEC?

Pursuant to Rule 9.19(51) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, FINTEC wishes to announce that it has offered options to eligible employees under its SIS, the details of which are as follows:-

(a) Date of offer : 30 December 2020
(b) Exercise price of options offered : RM0.08
(c) Number of options offered : 270,000,200
(d) Market price of FINTEC’s shares on the date of the offer : RM0.08 each
(e) Number of options offered to Directors of FINTEC : Nil
(f) Vesting period of options offered : Not applicable

This announcement is dated 30 December 2020.

Fintec Just listed ESOS who bought at 8 sen? Tan Sik Eek cannot?

101 posts

Posted by alan123 > Jan 10, 2021 12:15 AM | Report Abuse

is FINTEC share based bigger than TopGlove 8B, Harta 3B? Even KOSSAN & SUPERMAX with 2B share base also can go up.
Last Friday Glove stock rally these 2 stocks can go up but FINTEC with only 2.8B cannot even move? What logic you trying to imply?

Reap88 The problem with Fintec is NSOH is 2.8B which is rather large. Once price increase sure to attract those weak holders who will take quick profit and those trap at higher prices who will sell to cut loss to get out.

101 posts

Posted by alan123 > Jan 10, 2021 12:19 AM | Report Abuse

Underwrite the RI for 15M cash but not able to get 333,333 RI shares which cost around RM 26,666,66 cash only. Mean Tan Sik Eek still have balance RM 14,973,333,36 cash to buy FINTEC share at now cheaper price 0.075 than 0.08 RI.
Why don't buy? No faith in FINTEC? FINTEC too expensive?
Why Reap88 why?

Reap88 harvest 123, the problem of directors credibility exist in many KLSE companies. There are just too many listed companies with not enough management skills and expertise. At the end of the day many who are not so savvy will be sure to lose their hard earn money. Unless Bursa makes it mandatory that to be appointment as ED must hold a minimum percentage of the NSOH. Otherwise decision made by the BOD may not be in the best interest of shareholders. By the time the financial results are out showing substantial losses or enter PN17 there is nothing much the ordinary shareholders can do except suffer in silence and sell their shares.at a substantial loss

101 posts

Posted by alan123 > Jan 10, 2021 12:28 AM | Report Abuse

Wow FINTEC so famous. The Edge cover FINTEC.

Turkey Of The Year: The rally in penny stocks and their subsequent plunge
TheEdge Tue, Jan 05, 2021 03:30pm - 4 days ago

IN September this year, The Edge ran a piece titled “Hidden hands behind penny stock surge”, which showed the relationship between 21 companies, all connected via similar shareholders and/or directors and all exhibiting unusual peaks and troughs, jolting share prices for no apparent reason.

Behind these companies is an individual or a small group of individuals controlling things and making a mockery of corporate governance standards.

Interestingly enough, it is understood that there are about 40 companies controlled by the hidden hands.

At the apex of the maze of companies is Fintec Global Bhd, a company that does not have a core business except to act as an incubator. On Fintec’s website, it says, “The name ‘Fintec’ mirrors our motto of ‘financials before technology’, that is, we first and foremost look to the existing and/or potential financial performances of the companies in need of capital injections before all other merits such as technology, business nature and business plan are considered.”

According to its annual report, it has investments in start-ups but it is worth noting that Fintec also invests in several small-cap, publicly traded companies.

Companies under Fintec’s belt include Saudee Group Bhd (21.55%), AT Systematization Bhd (28.29%) and Focus Dynamics Group Bhd (25.04%). There are also companies such as Green Ocean Corp Bhd and Trive Property Group Bhd, in which Fintec has indirect stakes via Saudee Group and AT Systematization. It is also noteworthy that at end-November, Fintec ceased to be a substantial shareholder of NetX Holdings Bhd.

Some of these companies, such as Fintec and AT Systematization, were in the news for announcing new ventures, including into glove making. It remains to be seen whether they are successful in these ventures.

Nevertheless, Fintec’s “jewel in the crown” is Focus Dynamics, which operates seven food and beverage outlets. It mustered a net profit of RM7.26 million from RM42.88 million in revenue for the nine months ended September this year. Despite having accumulated losses of RM40.26 million, Focus Dynamics at the time of writing was trading at 65 sen, giving the company a market capitalisation of almost RM4 billion, and was listed on the MSCI global small-cap indices last month.

Whether such a high market value is justified for a company that raked in RM7 million in net profits is questionable. So far this year, Focus Dynamics’ share price has shot up more than 390% from 13 sen as at end-2019, with no apparent reason for the meteoric rise.

Just prior to this article, Fintec pocketed RM26.74 million in cash, selling 768.15 million of Focus Dynamic’s warrants on the open market.

This year alone, Fintec has completed two share placements and one rights issue with free warrants, raising RM182.6 million. Note that as a reprieve to companies hit by the pandemic, Bursa Malaysia relaxed the rules on private placements, allowing listed companies to place out not more than 20% of the total issued shares, from the existing 10%, until Dec 31, 2021 — subject to shareholders’ approval.

Most of the companies in which Fintec invests are loss-making and small in terms of market capitalisation, and seem to lack a clear business direction or strategy.

Other stocks (besides Focus Dynamics) that have shown simi­lar gains but plummeted include loss-making Anzo Holdings Bhd, a company dealing in timber products that gained more than 1,000% from mid-May to hit a high of 26 sen in July. It closed at 8.5 sen on Dec 23, losing 67% from the peak.

PDZ Holdings Bhd, an ailing shipping company, was trading at one sen in mid-March but, at end-June, it gained more than 500% to reach its peak of 32.5 sen this year — a remarkable feat, considering it is mired in lawsuits and has no significant shipping assets. Closing at 7.5 sen on Dec 23, it is down 77% from the peak.

Meanwhile, loss-making XOX Bhd, which is involved in cellular telecommunication services, gained more than 430% from mid-July to hit a high of 39.5 sen at end-August. In mid-March, XOX was trading at one sen.

Anzo, PDZ and XOX are linked to Fintec via its directors. All three companies have announced corporate exercises, including placements of shares and rights issues.

Meanwhile, Saudee Group’s stock hit a low of eight sen on March 17, but picked up momentum in June to hit a 52-week high of 67 sen on Aug 13, gaining more than 300%. It closed at 50 sen on Dec 23 — down 25% from the peak.

While there is reason to believe that the regulators are indeed looking into the companies and their erratic share price movements, and that the authorities have actually commenced investigations, it is unclear whether there will be any follow-up action aside from an unusual market activity (UMA) query by the exchange.

Also worth noting is that investigation

101 posts

Posted by alan123 > Jan 10, 2021 12:29 AM | Report Abuse

Penny Stock: A once-in-two-decade penny stock fever
TheEdge Tue, Jan 05, 2021 03:00pm - 4 days ago

IF 2020 is the year of rubber glove manufacturers and technology-related counters, penny stocks deserve at least a notable mention.

The penny stock fever on the local bourse has not been seen for at least 20 years since the dotcom bubble burst.

The eye-popping share price rally lured long-absent retail investors to the stock market and that, in turn, lifted the daily trading volume to a record high of 27.8 billion shares on Aug 11.

At the height of the penny stock fever in August, share prices hitting limit up were not a rare sight. On Aug 7, 12 stocks hit limit up, including HLT Global Bhd, LKL International Bhd and ES Ceramics Technology Bhd. These three were below 20 at the start of 2020.

Most of these stocks were boosted by announcements on plans to diversify into personal protection equipment (PPE), mainly disposable rubber gloves or face masks, or that a memorandum of understanding had been signed with foreign pharmaceutical companies for the exclusive right to distribute a Covid-19 vaccine, although the government has yet to decide whether the private sector would be involved.

Some describe the Covid-19 pandemic as a blessing in disguise as retail investors had extra money in their pockets to invest as a result of the six-month loan moratorium granted by the banks, while the unprecedented global demand for PPE gave rise to wild expectations on the earnings potential of an investment in producing rubber gloves or raw materials such as nitrile.

Fintec Global Bhd’s elevated quarterly profits may help explain the market euphoria. The company, which owns stakes in several listed entities, reported a 905% year-on-year surge in net profit for the second quarter of its financial year ended Sept 30 (2QFY2021) to RM720.5 million, from RM71.7 million in the previous corresponding quarter.

Almost all of its business segments — green technology, oil and gas (O&G) and trading — posted pre-tax losses during the quarter, with the exception of its portfolio investment division.

Fintec recorded a “fair value gain on investment securities” of RM714.2 million — nearly 10 times the RM73.6 million it recorded a year earlier in 2QFY2020. On its balance sheet as at Sept 30, 2020, it had RM1.23 billion in investment securities, almost four times the RM358.1 million recorded six months earlier on March 31.

Fintec did not reveal the details of the investment portfolio as it is not required under Bursa Malaysia’s listing rules. However, based on the disclosure of companies’ shareholdings through its wholly-owned subsidiary Asiabio Capital Sdn Bhd, Fintec holds shares in Saudee Group Bhd, VSolar Group Bhd, Komarkcorp Bhd, Focus Dynamics Group Bhd, Seacera Group Bhd and AT Systematization Bhd — all penny stocks. In a nutshell, the large gains were due to the surge in the market values of its investments.

When sentiment was especially buoyant, even the share prices of bus operators Gets Global Bhd and Konsortium Transnasional Bhd — both of which have been loss-making for years — could more than double in a single day, with the daily trading volume exceeding their issued share capital. This means a portion of the companies’ shares changed hands more than once on a single trading day.

Gets Global is an outperformer among the penny stocks in terms of share price performance. The stock exchange queried the company on unusual market activity three times between August and November due to the steep climb in its share price, but this did not stop its spectacular rise. It may seem unbelievable that Gets Global’s share price skyrocketed from 10 sen to RM3.97 in less than four months.

The counter’s rally gained strength when it announced a rubber glove manufacturing venture. On top of that, two new substantial shareholders — ADA Capital Investments Ltd and Teong Lian Aik — emerged in the company after a share placement. ADA Capital is owned by Teong’s brother-in-law, Low Bok Tek.

AT Systematization, which has also ventured into the rubber glove manufacturing business, also stands out among the penny stocks. It is likely the most traded stock of 2020. Daily trading volume soared to 2.66 billion shares on Nov 10, accounting for 23% of the total volume of shares traded on Bursa Malaysia that day.

In the second week of November, AT Systematization’s weekly trading volume swelled to 10.85 billion shares, which was equivalent to slightly more than 16% of the total weekly volume on the stock exchange. This was the first time that many investors had witnessed such a large trading volume on a single stock.

Investsucess Trader
4665 posts

Posted by Investsucess Trader > Jan 10, 2021 8:09 PM | Report Abuse

If drops this week, then accumulate for the future....

18 posts

Posted by Yiingb > Jan 11, 2021 9:53 AM | Report Abuse

Fintec flying up sooon Hold tight guys

1213 posts

Posted by kenie > Jan 11, 2021 10:11 AM | Report Abuse






1213 posts

Posted by kenie > Jan 11, 2021 10:36 AM | Report Abuse

Heffner, Paul Lincoln 韓福南 Adamas Asset Management (HK) Limited Responsible Officer SFC licenses From 2013-02-20 Until 2021-01-01

1213 posts

Posted by kenie > Jan 11, 2021 10:36 AM | Report Abuse

Fintec boss 韓福南 祝福 Happy New Year

1213 posts

Posted by kenie > Jan 11, 2021 10:42 AM | Report Abuse

港龍始創人曹光彪孫女婿疑財困 Tesla內燒炭亡


據了解,死者為Tesla登記車主。資料顯示,該車於2015年首次登記,車主韓福南(Heffner,Paul Lincoln),是投資基金安德思資產管理(香港)有限公司(Adamas Asset Management)始創人,其妻子曹惠婷是香港「毛紡大王」兼港龍航空創辦人曹光彪孫女。



74 posts

Posted by suraya > Jan 11, 2021 10:47 AM | Report Abuse

25 NOV 2020 FINTEC GLOBAL BERHAD 10 largest shares holder

1.Adamas Finance Asia Ltd 31,840,000 ~ 2.26%
2.Ong Kim Leng 15,920,000 ~ 1.13%
3.Ong Eng Taik 14,270,000 ~ 1.01%
4.Tan Seng Chee 12,000,000 ~ 0.85%
5.Piong Yon Wee 10,200,000 ~ 0.72 %
6.Bu Yaw Seng 9,000,000 ~ 0.64%
7.Ho Ah Chai 6,600,000 ~ 0.47%
8.Teh Bee Khay 6,500,000 ~ 0.46 %
9.Eng Hong Palm Oil Mill Sdn. Bhd. 6,500,000 ~ 0.46%
10.Low Min Hing 6,400,000 ~ 0.45%

Jeffrey Ko
28 posts

Posted by Jeffrey Ko > Jan 11, 2021 11:48 AM | Report Abuse

Sorry, cant read much Chinese. Care to elaborate on this Heffner news whether it is good or bad?

12 posts

Posted by recovery > Jan 11, 2021 12:22 PM | Report Abuse

If anyone of you can spare the time and is interested to become an independent director of Fintec, then all the i3investors here who are shareholders can give you the proxy votes to be elected to the BOD at the next AGM. That will be the best way to protect our interests

208 posts

Posted by jlex11 > Jan 11, 2021 12:52 PM | Report Abuse

recovery ; wild dreams...I believe fintec shareholdings are held up vide a group of nominees...they are in control of the company and can easily outvoted you ...

Have you wonder why they can easily do private placement which other companies struggle to do it ...the answer is right in front of you ..

12 posts

Posted by recovery > Jan 11, 2021 1:05 PM | Report Abuse

@jlex11. That being the case, then the concern raised here about there being no controlling shareholders does not arise.

68 posts

Posted by Limitupppp > Jan 11, 2021 4:14 PM | Report Abuse

Trust me this week or next week fintec will hoseh liao

Investsucess Trader
4665 posts

Posted by Investsucess Trader > Jan 11, 2021 8:02 PM | Report Abuse

Now mco, how will the market fare next few day......

Investsucess Trader
4665 posts

Posted by Investsucess Trader > Jan 11, 2021 10:44 PM | Report Abuse

Can it drops to 0.04-0.045????

1024 posts

Posted by chamlo > Jan 12, 2021 4:37 AM | Report Abuse

Why waste time writing comments? No Fintec or no money so must buy cheaper?

18 posts

Posted by Yiingb > Jan 12, 2021 11:07 AM | Report Abuse

Fintec rocket soooooooon

1091 posts

Posted by gghaha > Jan 12, 2021 11:56 AM | Report Abuse

tis qtr may surprisingly red sea..............all may see the price ard 0.05 soooooonnn......:)

40 posts

Posted by Vortex8 > Jan 12, 2021 12:22 PM | Report Abuse

Reap88 no more VC bec Rip true? Pls read Ah Hui posts.

40 posts

Posted by Vortex8 > Jan 12, 2021 12:38 PM | Report Abuse

Investfail more suitable ID for you haha. CAP is 1 sen and suspended where got success?

Investsucess Trader Can it drops to 0.04-0.045????
11/01/2021 10:44 PM

7 posts

Posted by harvest123 > Jan 12, 2021 12:38 PM | Report Abuse

We need to have our own independent director there. This crappy management does not bother to realise the profits on their listed holdings.

474 posts

Posted by Up_again > Jan 12, 2021 12:40 PM | Report Abuse

Minorities gang up and block Syndicate?

Musang King
573 posts

Posted by Musang King > Jan 12, 2021 6:24 PM | Report Abuse

jlex11 recovery ; wild dreams...I believe fintec shareholdings are held up vide a group of nominees...they are in control of the company and can easily outvoted you ...

Have you wonder why they can easily do private placement which other companies struggle to do it ...the answer is right in front of you ..

jlex11. I believe this Fintec is controlled by a group of nominees behind the door. No need to be so transparent. I believe Fintec can do it after all where can you find companies or public entities in Malaysia that can make so much money in a short time. Buy into Fintec at 8 sen now for your Returns as well as their Returns can be very huge.

374 posts

Posted by Reap88 > Jan 12, 2021 8:12 PM | Report Abuse

Vortex8, I am still a substantial shareholder of VC. No point writing in VC forum when cannot have intellectual discussion. Only useless span in VC whereas in Fintec forum there are investors who I can have a meaningful dialogue. The problem shared by both VC & Fintec is that there are too much free float which makes it difficult for price appreciation. As pointed out by many investors in Fintec forum directors are not substantial shareholders. VC likewise also have a similar issue. Since VC directors are not willing to become substantial shareholders again have opted for share consolidation to reduce the NSOH. Fintec may also follow a similar path as what they did back in 2017. This may be a good move as it will reduce the number of weak holders The price of Fintec & VC perhaps are encourage to drift lower or kept low as a strategy for accumulation and a means to earn substantial returns. Can also earn handsomely by purposely depressing share price.

208 posts

Posted by jlex11 > Jan 12, 2021 10:03 PM | Report Abuse

Reap88....my answer to you is this :

a. If you are a substantial shareholders , your transactions need to be reported

b. why is fintec and certain group of companies can so easily place out shares under PP etc etc so easily ....I dont need to elaborate ... your guess is as good as mine ...just look at their shareholders spread...

Fintec just issued 60 M Esos shares at 8 cts when u can buy it in the Market at 8cts then ....question is why ,,,,& why ... u dont need rocket science to figure out why ...

Just for the records, each time when PP, Esos, SIS etc2 in big number are issued, the shares will spike above the placement price and the reason why is also also not a rocket science ...

So just be patient and wait for it to unfold...

Cheers and good luck..

84 posts

Posted by Hotboy > Jan 13, 2021 10:10 AM | Report Abuse

Any idea for tis stock ?

57 posts

Posted by LossAversion > Jan 13, 2021 10:11 AM | Report Abuse

Long forgotten stock...kept in pantry!

584 posts

Posted by Why_ > Jan 13, 2021 11:44 AM | Report Abuse

Cheapest gloves nobody want?

Hotboy Any idea for tis stock ?
13/01/2021 10:10 AM

584 posts

Posted by Why_ > Jan 13, 2021 11:47 AM | Report Abuse

AT, Inix, Mahsing all got gloves already not Fintec?

Ding HL Allan
42 posts

Posted by Ding HL Allan > Jan 13, 2021 12:41 PM | Report Abuse

Buy and accumulate more Fintec. Make your money and keep quiet. There are huge and tonnes of money to make. Just buy and keep quiet. OK. Understand. Cheers.

3470 posts

Posted by firehawk > Jan 13, 2021 5:10 PM | Report Abuse

pushed up the price is for RI, after RI eat yourself

107 posts

Posted by sausagex99 > Jan 14, 2021 10:43 AM | Report Abuse

fintec cheapcheap

Bgt 9963
454 posts

Posted by Bgt 9963 > Jan 14, 2021 10:45 AM | Report Abuse

Money game...counter...!

107 posts

Posted by sausagex99 > Jan 15, 2021 3:45 PM | Report Abuse

Fly looooo

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