Highlights
KLSE: TATGIAP (5178)       TATT GIAP GROUP BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.10   +0.01 (11.11%)  0.09 - 0.10  27,636,500
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Ann. Date Ex Date Payment Date Type Subject Amount View
16-Nov-2018 29-Nov-2018 03-Dec-2018 RIGHTS_ISSUE Rights Issue 4 : 1 Dividend Detail
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  2 people like this.
 
mayongzheng In near term of future, Dynaciate will give Tatgiap contracts works for TRANSFORMATION of REVENUES and Earning.
15/02/2019 05:42
Bursa1575 Very very powerful ouh
15/02/2019 09:03
fl888 Looks like the New Boss wants to convert all the IPCS and WA into mother shares so no need to borrow from anybody...and a massive controlling stake in Dynaciate..
15/02/2019 09:31
Newbiesky so will it be a good news for us, Ikan bilis buyer
15/02/2019 10:10
William Choong Yes, if you bought at 0.10 as new boss, the margin to gain is more than 50%, if you caught the falling knight which more than 0.15, from my point of view is... need a bit longer time to recover.
15/02/2019 12:20
fl888 another way of money laundering by operators ????
15/02/2019 14:08
commonsense I would see the conversion of ICPS as a neutral event at the moment.

Existing shareholders are actually getting diluted in terms of shareholding percentage but given the conversion price is at 12 sens per share (either via adding 6 sens per ICPS or by surrendering 2 ICPS for every 1 ordinary share received. The latter being the most probable case), there will not be any downward price adjustment to existing shareholders. That being said there is actually no cash payment being made for the conversions (most if not all are based on the surrendering of 2 ICPS per 1 ordinary share). The ICPS actually don’t carry any dividend payment.

Why would the ICPS holders convert now? The most probable reason is due to an arbitrage trading opportunity that appeared even at the first day of trading of the ICPS on 3rd Jan 19. The ICPS traded at between 6 sens to 8 sens per share while the mother shares traded at between 29 sen to 36 sens on the same day. Theoretically, original ICPS holders will be in the money when the mother is trading above 12 sens. They will not make money on trading the ICPS (Tatgiap PA) unless it is above 6 sens. For the first trading day, the original ICPS holders would most probably want to convert the ICPS to mother and then sell the mother later. If price were to remain constant at the closing price of 36 sens, they would have pocketed 12 sens per ICPS via conversion rather than selling the ICPS directly which only can make profit of 2 sen max. However, to convert ICPS it will normally take 1 – 3 weeks depending on your broker and the company secretary efficiency. The first block of new shares from ICPS conversion were issued on 14thJan when price traded between 14 to 18 sens. Most traders would have taken the opportunity to sell their shares for immediate profit. This trade is relevant as long as the share price is above 12 sens (which ended on 16 Jan).

Beyond that date any original ICPS holders would be losing money if they decide to convert and sell the mother shares later (given that it would be below their original investment of 12 sens). However, there is still some arbitrage trading opportunities for those that are willing to take the 1-3 weeks conversion duration risk (during this time, they could not do any trading). Since 16 Jan, the mother shares has been trading at below the 12 sens with the lowest being 9 sens. On average, the trading range is between 9.5 sens and 10 sens. The ICPS on the other hand has been trading at between 4.5 sen and 5 sens. A trader can make a gross profit of 5.6% if he buys the ICPS at 4.5sens, convert it to mother shares (2 ICPS for 1 mother shares at cost of 9 sens) and sells the mother directly upon conversion at 9.5 sens. If the trader managed to sell it at 10 sens, he would have maker a profit of 10.2%. But again, there is a risk during the conversion period of 1-3 weeks when the trader could not do anything. If the mother price fell at below 9 sens, he would end up in a loss-making trade. More than 200 mil new shares were issued from conversion of the ICPS since 3rd January.

But again, this is all arbitrage/ speculative play. In terms of fundamental, Tatt Giap is still not a very appealing investment option. The company is still considered as a loss-making company with liquidity issues. A big portion of the recent fund-raising exercise, which managed to raise around RM41mil, was supposed to be used for a property development project which has a GDV of RM139mil with potential gross profit of RM35mil. That has since been put on hold with the land now being leased to MGudang for RM4.2mil per year for a lease period of 2 years. The funds are now being proposed to be diverted to fund a subcontracting works which was awarded by Dynaciate group (the major shareholder). Not sure if the subcontracts will end up with delivering profit to the company’s bottom line. Investors need to be prepared for the company to still record losses for the foreseeable future (at least the 4Q18 and 1Q19 results until the subcontract work starts. Not sure when).

If you are looking to diversify your portfolio outside of Tatt Giap (due to its weak earnings outlook and liquidity issues), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.

Good Luck
17/02/2019 08:19
lene Connonsense's PART 1 explanation about tatgiap is pretty cool and accurate.

心動了嗎?行動了嗎?

Oh no, look at PART 2. He is promoting MBMR. That's his main point and objective.

He did not come at TATGIAP to warn you and me at JAN 3,7,8.
But instead when many are heart attacked by the steep drop of TATGIAP.

BEWARE of Connonsense. He is just another
CALVINTANENG who promoted JTIASA, BPURI, BJCORP, MULPHA, SUPER, KULIM, etc.

or another LENO who promoting INSAS

or another B4b4 who promoted and tricked people at INIX / NETX / TIGER.


..
18/02/2019 01:49
lene PART 2 is usually ........... TRAP.
18/02/2019 01:50
fl888 Tatt Giap is at NTA value and upward surge is expected .......stupid to throw it for MBMR lah and how much can I make if I change my 1688 lots of Tatt Giap to MBMR, ......I keep my Tatt Giap to easily make 10% more... hoping ....
18/02/2019 04:56
BringMeFly Big selling @ 0.095 but buy few lots @ 0.10 to maintain the price
18/02/2019 10:42
William Choong never listen to others as you are always on your own, judge yourself and be confident once bought in.... a month ago when i bought in Presbhd(0.35), RgtBhd(0.185), Ucrest(0.265) and Tecfast(0.32), ppl said i am crazy as Presbhd can go further down to 0.25 since cancelled of project of SKIN, how about today, of course I sold all at 0.41, RgtBhd I sold at 0.200, Ucrest I sold at 0.275 and Tecfast still holding as my TP0.40 is otw. Afterthat I moved in Tatgiap(0.10), PUC(0.95) and YongTai(0.345)... See what's going to happen.... I always enter when other throw and sell when other chase. Tatgiap my personal TP is 0.12 will be enough....Good luck guys.
18/02/2019 12:04
William Choong The current trend is penny stock, of course i have Genm, Gkent, Maybank ... too. That will take arest as they all raised in Dec/Jan.... Let all penny doing good job for us.
18/02/2019 12:06
Depeche Clap clap..A calculated risk taker. ...but tp 0.12 for tatgiap too low la...at least aim for 100% or more reward.
18/02/2019 17:33
PlsHelpMe Depeche... 0.12 is too low... d price cant even break 0.105..
18/02/2019 18:15
Berdie Yeaaa. Manage to buy at 0.095. Keep on falling la. Will keep on buying until up up up and away or until i die first. Hahahaa
18/02/2019 19:53
Shines Berdie, I agree with you
18/02/2019 21:22
Depeche Wait for Dynaciate to do their job...dun expect it to fly tomorrow...if one doesn't have patience...then u are just punting here...sigh.
18/02/2019 22:23
DonaldTrumpMalaysia BIY SUMATEC EVERYDAY LIMIT UP 100%
18/02/2019 22:41
fl888 Ya lah Invest not speculate for Dynaciate..
18/02/2019 22:45
Depeche Almost there... clearing 0.9....could be going towards 0.085...Almost touching ground already.
20/02/2019 05:21
Newbiesky so its good time to collect?
20/02/2019 09:37
Depeche I am targeting 0.085 and below.
20/02/2019 15:18
BringMeFly want to buy low to offset lost also hard, price only can get lower and lower
20/02/2019 16:05
Depeche Dynaciate first bought in at 0.31...they are more eager to see the price rise.
20/02/2019 18:54
LuvLuv tattgiap Pa is a good tools for leverage,进可攻,退可守...but not at current price...
20/02/2019 20:13
BringMeFly Maybe dynaciate sold and collect again at low?
20/02/2019 21:08
Wuzy Dynaciate 很会玩
21/02/2019 00:22
Depeche Obviously this is a good time to accumulate more shares for major shareholders...but whether they already sold those they bought I doubt so....it's probably averaged down to below 0.20 now...so when the price rises ONE DAY...it should exceed 0.20.
21/02/2019 08:59
mar123s Proposed to change company name to Dynaciate Group...is this a good news?
22/02/2019 08:55
BringMeFly http://www.bursamalaysia.com/market/listed-companies/company-announcements/6070861

i don't think will got any effect
22/02/2019 08:57
BringMeFly volume so high
22/02/2019 09:37
fl888 KLSE should change Tatt Giap name to Dynaciate, so simple yet cannot do....please update lah then Dynaciate can move...
22/02/2019 09:50
tamp0i Thanks to those who sell now, accumulate while you can. Clearly in oversold zone.
22/02/2019 09:58
fl888 5178 is Now Dynaciate w.e.f 18-2-19 and once updated in KLSE website, dynamite rise in price coming like a Lion Dance....hahaha
22/02/2019 10:12
cutie huat huat...name change
22/02/2019 10:23
fl888 China coming back to Johore will benefit Iskandar projects and indirectly Dynaciate,,,,,strong hunch....
22/02/2019 10:33
PlsHelpMe fl888... how does china inflow to johor will benefit dyna?
22/02/2019 10:37
fl888 Supplying steel related products for property and manufacturing concerns in Penang and Johore.?
22/02/2019 10:41
YSL76 dont kena con.. 0.10 only done 700 lot.. becareful..
22/02/2019 10:48
cashflow huat huat :)
22/02/2019 10:49
YSL76 lets wait break 0.10
22/02/2019 10:49
cashflow 10 cents clearing now
22/02/2019 10:49
YSL76 not yet.. abit done only lol
22/02/2019 10:50
Depeche Suspect steel counters won't be good this QR.
22/02/2019 12:00
cashflow Gotta swim with the big boys. They own average at 0.12, and we know they will push minimum 20% to be at cost, and further up to profit
22/02/2019 15:57
PlsHelpMe fl888... u think tatgiap is d only steel supplier in Malaysia
22/02/2019 17:40
fl888 One of the many steel supplier in Malaysia and also involved in property development and have good connection etc....
22/02/2019 19:26
fl888 One of the many steel supplier in Malaysia and also involved in property development and have good connection etc....
22/02/2019 19:28
PlsHelpMe one of.... thats the keyword... if have good connection, then definitely can source for many biz opportunities right? but making loss instead till its major shareholder ran away...
22/02/2019 23:20


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