@8899EL8899: BLEE,.......DO YOU KNOW THAT THEY BUY NEW SHARES FROM FINTEC AT PRICE 10 - 20% BELOW MARKET PRICE,......

BLee: Hi @8899EL8899, I know and been monitoring the last "ESOS as below:
No. of shares issued under this corporate proposal: 20,000,000
Issue price per share ($$): Malaysian Ringgit (MYR) 0.0100
Latest issued share capital after the above corporate proposal in the following
Units: 5,922,797,474
Issued Share Capital ($$): Malaysian Ringgit (MYR) 367,850,967.800
Listing Date: 15 Apr 2022"
I would NOT buy above the last ESOS price and if they pump up above that price, I will be the next "crook" to sell in the market.
Disclaimer: I don't belong to any "syndicate".. just a very small retailer investing for passing time and enjoyment. Tq

@8899EL8899: WHEN FINTEC CROOKS DUMPED THEIR SHARES TO YOU,..........
THEY WON`T BUY IT BACK FROM YOU,........
THEY WILL BUY NEW SHARES FROM FINTEC & AGAIN SELL IT TO YOU,.....
LATER, THEY WILL CONSOLIDATE YOUR SHARE,......
THEY ARE HAPPY DOING THAT,.......MAKING YOUR MONEY.

BLee: Hi @8899EL8899, please explain in a bear market when prices are dropping, when 'crooks' can buy low to sell, making our money? Prices are now lower than PP and ESOS issuances, 'crooks' need to contribute $ to share capital for new shares from Fintec, I don't expect for 'crooks' to sell at a loss?? On consolidation, NAPS/share price will increase inverse proportion to ratio of the consolidation, so no issue. The direction of prices after consolidation will very much depend on market sentiment and investment performance which is a risk the investor needs to ponder…
Happy Trading and TradeAtYourOwnRisk

@8899EL8899: IF YOU BUY AT 1 SEN,.......THEY CAN MAKE YOU LOSS MONEY,.......DO YOU WANT TO KNOW HOW ?

BLee: Hi @8899EL8899, truly can happen if No Action Taken to mitigate the dilution. I have written an article on how to mitigate the dilution with or without additional capital in actual situation as in link:
AGES RI: Dilution losses if No Action https://klse.i3investor.com/blogs/AGESPA/764419.jsp
Consolidation and RI issuances will Not have much effect on ICPS Fintec-PA as conversion price/ratio will be adjusted for any dilution…so far not happening after numerous scenario warnings. Anyway, thanks for the highlight for the potential investment risk.
Happy Trading and TradeAtYourOwnRisk

@8899EL8899: BLEE,.......THE REAL MAJOR SHAREHOLDER IS FROM HONG KONG, .....THEY ARE HIDDEN SHAREHOLDER

BLee: Hi @8899EL8899, thanks for the info. As per AR2022, only few foreign owners can be hidden in:-
1. Affin Hwang Nominees (Tempatan) Sdn Bhd EXEMPT AN FOR LAZARUS CORPORATE FINANCE PTY LTD 200,000,000 5.44%
10. M&A Nominee (Tempatan) Sdn Bhd EXEMPT AN FOR SANSTON FINANCIAL GROUP LIMITED (ACCOUNT) CLIENT 35,300,000 0.96%
18. Citigroup Nominees (Tempatan) Sdn Bhd UBS AG FOR MAYBANK SECURITIES PTE. LTD. 20,100,000 0.55%
which is only around 7%.
On another data of shareholding:
- Holding of 100,001 to less than 5% of the shares = 3,912 holders = 27.04% = 3,139,671,096 = 85.36%
- Holding of 5% and above of issued shares = 1 holder = 0.00% = 200,000,000 = 5.44%, total of more than 90%
Happy Trading and TradeAtYourOwnRisk

@8899EL8899: BLEE,......FINTEC DIDN`T SELL FOCUS DURING THE PEAK BECAUSE THEY WANT THEIR BIG BOSSES TO MAKE MONEY FIRST,........FINTEC WILL SELL AT LOSS BUY AT PREMIUM PRICE FROM THEIR BIG BOSSES,........BECAUSE IT IS PUBLIC FUND

BLee: Hi @8899EL8899, the problem is accumulation at "premium price" and not selling at "pump up price" and not at all for the four so-called key incubatee companies. If they sell at losses, the paper loss wouldn't be so much..and the P/NAPS won't be at the undervalue figure of 0.36.
I agreed it is a public fund with ESOS and PP with each issuance at a discounted price, diluting NAPS. The question is, is it a bargain buying below those ESOS and PP prices considering the 0.36 P/NAPS??
For information, I have collected once at half sen for AGES-PA before consolidation and thrice for Focus-PA, hoping to get more for Fintec-PA/Fintec and KGroup…and can afford to hold for a longer period.
Happy Trading and TradeAtYourOwnRisk

@8899EL8899: FINTEC MAY SELL MORE THEIR INVESTMENT SHARES IN THEIR ASSOCIATE AT 90% LOSS,...

BLee: Hi @8899EL8899, agreeing that to sell at 90% loss is silly..more silly not selling Focus Dynamic when making close to RM726.5 million paper gain. "Portfolio investment - Profit before tax increased by RM652.9 million (8.9x) to RM726.5 million which was mainly due to the positive performance in market prices of the Group's strategic investments in Malaysia"
Source: https://www.klsescreener.com/v2/financial-reports/view/701853

Can this performance be repeated again? Most likely not? As per latest AR, Focus Dynamic is one of the "Group’s four (4) key incubatee companies. Based on the unaudited financial results for 18 months financial period ended 30 June 2022 (“FPE 30 June 2022), Focus, our investment with the highest return, recorded profits from operations totalling RM23.6 million on the back of RM60.2 million revenue for FPE 30 June 2022."
IMHO, there is still hope; but it could be better if "run" with the profit earlier...
Happy Trading and TradeAtYourOwnRisk

@8899EL8899: THE MAJOR SHAREHOLDERS HAVE SOLD DOWN KEY ALLIANCE TO 1SEN LEVEL,.......

BLee: Hi @8899EL8899, how true? One major shareholder/director holding 224.9 mil roughly at around 4.5sen since early 2021 and 225.4 mil roughly around 1sen now:
" 1. 04 Mar 2021 600,000 Acquired Direct Interest
Name of registered holder: Roy Ho Yew Kee
Acquisition through open market
Nature of interest: Direct Interest
Direct (units) : 224,900,000
Direct (%) : 9.553"
still holding..without disposing record as at
"1. 10 Jan 2022 500,000 Acquired Direct Interest
Name of registered holder: Roy Ho Yew Kee
Nature of interest: Direct Interest
Direct (units) : 225,400,000
Direct (%) : 7.354"
Source: https://www.klsescreener.com/v2/announcements/view/3487841
How much paper loss for this major shareholder/director?
I am just protecting my investment of paper loss around 50%, still TradeAtYourOwnRisk (My Risk)..

@Youngkid: Cannot even produce Ar on time better change name to Unfocus Dynamics

BLee: Hi @Youngkid, waiting for latest AR could be over by
"Type of Meeting: General
Indicator : Notice of Meeting
Description : Focus Dynamics Group Berhad 19th Annual General Meeting
Date of Meeting : 29 Nov 2022
Resolution 1 : To receive the Audited Financial Statements for the financial period ended 30 June 2022 and together with the Reports of the Directors and Auditors thereon"...
Happy Trading and TradeAtYourOwnRisk

@Anaconder: Shenanigan going on. Sooner or later share I think share consolidation is on the way just like LKL

@Youngkid: In this IT world, cannot produce Ar on time..

@JJPTR: …b4 ex 200 big lots x 2c =$4000 rgt after ex 10 big lots x 20c=$2000 rgt ,lost 50%
Now you have it ,50% wipe out on first day after ex 20:1..

BLee: Hi @Anaconder, @Youngkid and @JJPTR, I am NOT defending Focus D as I don't have any inside info. As a company changed the financial period, most likely "a delay tactic, but only can hide for a further six months". Audit is a very tedious task, it is a manual process verifying "IT process" such as stock taking which NO gadget can do. As in LKL opening ex-price today after consolidation, there is NO 50% wipe out..So are many others counters after consolidation. I cannot guarantee it will NOT drop back to a few sen, but fundamentals will improve per share basis..
Happy Trading and TradeAtYourOwnRisk

@Anaconder: Yr2023 is coming ,yet Ar2021 not out yet ?

BLee: Hi @Anaconder, as per link https://www.klsescreener.com/v2/announcements/view/3539537
Details extracted below:-
"Remarks :
The Directors of Focus has approved the change of financial year end from 31 Dec 2021 to 30 June 2022 ("Change"). The COVID-19 pandemic is causing unexpected disruption in the workplace and due to shortage of manpower which has affected the timeline for preparation and audit of the financial statements of the Company and its subsidiaries. The first set of accounts after the Change shall be for a period of 18 months from 1 Jan 2021 to 30 June 2022.", therefore AR for the 18 months period most likely won't extend until year 2023..Rgds

@JJPTR: Focus drop from 95c to 1.5c now. Should you buy?

BLee: Hi @JJPTR, a very good question in this tumultuous time..I think we should analyze a few data to weigh the pros and cons before any investment decision.
Source of data:
https://klse.i3investor.com/web/stock/overview/0116
and
https://www.klsescreener.com/detail.php?code=0116

@JJPTR: How a newbie can lose 95% of his capital buying penny stocks @12c ?

BLee: This can happen NOT only to penny stocks, some high flyer darling stocks of few ringgits at one time are penny stocks now or even delisted..So it is just investment risk.

Focus Dynamic Fundamental as at around Noon 12 Oct.,2022
Market Cap: 96 Million
NOSH: 6,372 Million
4 Weeks Range: 0.015 - 0.02
52 Weeks Range: 0.015 - 0.055
T4Q P/E | EY: -1.08 | -92.19%
T4Q NAPS | P/NAPS: 0.03 | 0.59

Last Financial exercise:-
Entitlement: Preference Rights Ratio (New:Existing): 2.0000 : 6.0000
Rights Crediting Date: 04 Nov 2020

What did the above data represent?
The 4 weeks range is NOT volatile and NO PP, ESOS and others fundraising for the last 2 years.
The P/NAPS is less than 1, which means still undervalue ..the data don't lie. The cons are the few quarters losses due to investment in others counters, the FnB businesses are doing well..

For information, I am only holding Focus-PA and my average cost is less than 1 sen.

Happy Trading and TradeAtYourOwnRisk

More details on Pumped Storage Hydropower (PSH) in link:
https://www.energy.gov/eere/water/pumped-storage-hydropower
Just for sharing. Tq

It is 1.5 sen, not 0.15 cent nor 15 cent..tq

What is "The 344-MW Kokhav Hayarden pumped storage hydropower plant"? First time reading this type of renewable energy!! Brief understanding:
- two natural reservoirs at two different heights.
- potential energy from the top reservoir will drive turbines near the bottom reservoir in a controlled closed environment?
- the bottom reservoir is "the lower reservoir, which lies 236 meters below sea level and with a storage capacity of 3.16 million cubic meters over 200,000 square meters of white impervious geomembrane."
- potential energy to kinetic energy to electric energy with balance back to potential energy in a closed environment bottom reservoir?
- "Pumped storage hydropower provides an economical, efficient and stable way of hydroelectric energy storage. Acting similarly to a giant battery, it can store power and then release it when needed", but how? Closed environment in pipelines back to top reservoir and again through turbine? Not explained..
Really a good read. TQ

Answer to latest queries at:
https://www.klsescreener.com/v2/announcements/view/3617441

One new info from the queries and the answer:
"8. In addition to the profit guarantee of RM10 million, please clarify and state whether Kobena will be entitled to any profit sharing from the Proposed Development.
Ans: Kobena will not be entitled to any profit sharing from the Proposed Development apart from the profit guarantee of RM10 million."

@opportunist88: Thanks Blee reported recent land transaction added 33m
current down just big volume came after rally early of week the clean profit of 33m cud add 10 sen per share will stimulate coming QR

BLee: Welcome, just for sharing and my own interest as I hold both mother and ICPS AGES-PA. Most likely the deal will not be completed in this and next QR as 'the MOU was intended to provide additional time for Kobena to do all necessary due diligence as well as to obtain its board’s approval' and 'The MOU will come into effect on the date of signing and will remain in the effect for a period of six (6) months'

BSKL and some of the regional markets are going through a rough phase, and will most likely have a long wait for any potential gain…
I do not have any inside info, therefore will wait for further announcement on Perak Land.
Happy trading and TradeAtYourOwnRisk

Digesting the MOU:
"1. INTRODUCTION 
The Board of Directors of Ageson (“Board”) wishes to announce that Solidvest Properties Sdn Bhd (“SPSB”), an indirect 99%-owned subsidiary of the Company, had on 28 September 2022, entered into a memorandum of understanding (“MOU”) with Koperasi Belia Nasional Berhad (“Kobena”) to sell a piece of land measuring 9.325 acres held at Lot 9348, Mukim Batu, Daerah Gombak, Selangor Darul Ehsan (“Land”) to Kobena with a purchase consideration of RM35.0 million"

Salient points:
- Audited net book value as at 30 June 2021: Approximately RM1.55 million
RM35 million - RM1.55 million roughly a gain of RM33.45 million in book value.
- Kobena intends to appoint SPSB as the developer to plan, develop, complete and procure potential purchasers for the Proposed Development.
- Estimated gross development value ("GDV”): Approximately RM95.20 million.
- Estimated gross development cost ("GDC”): Approximately RM41.20 million.
- SPSB shall be able to secure a profit of RM10.0 million to Kobena from the sale of the Proposed Development.

Happy Trading and TradeAtYourOwnRisk

Nice sharing. "If you fail to plan, you plan to fail." if you see the market as "static".

"If you evolve to plan, your plan will evolve", I say that. Haha..that's why I like to trade in an evolving share market.

Happy Trading and TradeAtYourOwnRisk

@Peace99: …Method a) 1PA 0.95, meaning PA is regarded as 0.08
b) 13 PA, 0.08*13=1.04, 0.01 more than exercise price but obviously can't be helped as cannot have fractional PA.

BLee: Hi @Peace99, I wonder why the Exercise/Conversion ratio NOT revised as the 2 examples below, based on the subscription price of 15 sen?

Example of Fintec-PA adjustment:
2.1 Adjustment pursuant to the Rights Issue with Warrants…
Based on the above, the conversion price of the ICPS would be adjusted from RM0.16 to RM0.11.
From revised Profile for securities:
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR): 0.1600
Revised Exercise/Strike/Conversion Price Malaysian Ringgit (MYR): 0.1100
Exercise/Conversion Ratio: 11:8 (before 16:8)

Example of ARBB-PA adjustment from revised Profile for securities:
Exercise/Strike/Conversion Price    Malaysian Ringgit (MYR):  0.2000
Revised Exercise/Strike/Conversion Price Malaysian Ringgit (MYR): 0.1400
Exercise/Conversion Ratio:  14:1 (before 20:1)

As in the two examples, the old ratio of 195:15 could be revised to 103:15??

Happy Trading and TradeAtYourOwnRisk

@Peace99: Is there another way of changing PA to share? Before consolidation, i think can use 13 PAs to get one share.

BLee: Hi @Peace99, details of conversion spelt out in PDF file in link https://www.klsescreener.com/v2/announcements/view/3559803

" “ICPS” : 254,281,099 outstanding irredeemable convertible preference shares in AGESON which are expiring on 10 March 2030

2.1 Adjustment
The adjustment to the conversion price of ICPS is as follows:
…Save for the abovementioned Adjustment, the rights and obligations of ICPS Holders will remain unchanged."

Therefore remain unchanged meaning "the 2 methods of conversion remain and each ICPS before consolidation subscribed at 1 sen and after consolidation at 15 sen"??

Happy Trading and TradeAtYourOwnRisk

@Peace99: @BLee Thanks to your correction, I hold mine even tighter.
Wonder can share some insight into its PA?

BLee: Hi @Peace99, welcome..just for info sharing. I have written quite a lot on Ages-PA, won't mind sharing again; would admit I have strongly shared ICPS (PA,PB,..) as an alternative to company share warrants (not call warrants). Below links are articles sharing my opinion:
https://klse.i3investor.com/web/blog/detail/BLee_AGES/2021-07-16-story-h1568014371-ICPS_My_investment_stretagy

https://klse.i3investor.com/web/blog/detail/BLee_AGES/2021-09-12-story-h1571499077-Focus_PA_and_Fintec_PA_Negative_ICPS

As at today, 23 Sept., 2022, only my investment in Ages-PA in positive territory..averaging below 4 sen. As seen in today's closing, 4 sen to 5 sen equals 25% gain vs mother share of 14.49% due to:
- low cost investment, high percentage gain?
- number of outstanding Ages-PA (volume) depleted by 15 times during consolidation, therefore demand will be more than supply if mother share price increases in tandem??
Please highlight other positive or negative opinions for discussion..
Happy Trading and TradeAtYourOwnRisk

Viola!! up almost 16% when others still in doldrums..Happy Trading and TradeAtYourOwnRisk

@Peace99:...Since consolidation is 6 to 1, right issue is 2OR to 1 share and basically fully subscripted, the Net Asset per share now should be doubled =0.23x2=0.46

BLee: Hi @Peace99, the consolidation was 15 to 1. The Net Asset per share already reported in QR June22 as stated:
7) Net assets per share attributable to ordinary equity holders of the parent ($$) = 1.2200
Happy trading and TradeAtYourOwnRisk

@Musang King: BLee. Queue everyday by placing buy call at 0.005 on GTD till month end. So far, none collected…

BLee: Hi @Musang King, when we have taken an investment position, either way, we will not be too concerned. Up, we can collect the bounty. Down, we can average down or take a quick profit if we get buyers at higher value.
I noticed some bids prior to Morning or Noon Trade, purposely putting a buy bid of 1 sen at lower volume than seller bid of half sen, hoping for a matching at half sen. The risk will be if the half sen bid pulls out in the last few seconds, the trade will be matched at 1 sen. Don't mind doing that if I intend to "hedge" more…
Happy Trading and TradeAtYourOwnRisk

@Musang King: BLee. looks like Ageson and Mtronic going backward again. They were strong only for a while.

BLee: Hi @Musang King, for the last few days I have been busy discussing/learning on hedging, putting aside Ageson and have not studied on Mtronic. After UMA, Ageson momentum slowed, and needed "News" to regain the momentum. How is your queue buying half sen for Fintec and it's PA? No luck as no seller for quite awhile?
I had some luck with Focus-D PA yesterday, managed to "hedge" some at half sen during the sell down. No luck today as I could not get any from my other IB account.
Happy Trading and TradeAtYourOwnRisk

@probability: @BLee, FYI on core principle of hedging (how it works)

BLee: @probability, thanks for sharing. There are too many parameters which can affect the crack spread!! I believe we are still "guessing HY hedging position". "If" still can go from positive/negative "if the trader takes a view that current crack spread levels are relatively high, and will probably decline in the future" is correct/wrong. I hope HY makes the "right gamble" and the majority will benefit..We shall learn from all this discussion, Happy Trading and TradeAtYourOwnRisk.

@probability: @Blee, FYI on risks..
Infact, hedging is to reduce risk (not the other way).

BLee: @probability, agreed hedging is to reduce risk if for input/feedstock as it will control production cost. Likewise, petroleum products shall only be hedged by consumers. Non-consumer hedging shall upset supply and demand, and finally will affect the products prices. Is this "gambling"? I might be wrong as I am more Engineering incline and have some experience in procurement/material prices. Tq

@probability, noted. If product hedging based on projected output capacity, maybe the risk is moderated? Looking at the increased revenue vs the decrease in Manufacturing Expenses, will it be a concern? Your guess is as good as mine? Maybe as a refiner of petroleum products, HY has an added advantage to "gamble" with hedging wrt crack spread? Concerning my few questions above and others billion$ Trade receivables/Trade and other payables/Derivative financial liabilities/Borrowings (current liabilities more than current assets),  I will await the answers in due course..Tq

@probability: Guys take note of the following: .."HY can always do this as they have unlimited physical product"..

BLee: Hi @probability, I doubt the "unlimited physical product" as the Manufacturing Expenses for the period JuneQ22 of value RM43,293k was less than JuneQ21 of value RM55,521k, most likely decrease in physical product generated despite consumption should pick up on economy recovery.
The tankage also could be a bottleneck comparing 11 crude tanks vs 78 product tanks (link: http://hrc.com.my/operations-products.html
,each tank size is not defined??) for feedstock and storage..
Happy Trading and TradeAtYourOwnRisk

@stockraider: Blee, My advice to u is stay very clear of Hengyuan loh!

BLee: Hi @stockraider, thanks for the advice. Things alway change with time. I believe in equilibrium, yesterday's price and tomorrow's price will make a lot of difference in investment strategy.
Happy Trading and TradeAtYourOwnRisk

I have not taken any investment position in these two PD refineries, only have read some of their Invitation To Bid (ITB) dossier and site visiting. That is my only interest for sharing…no malaise intended and to follow some of the jargon to stay in tune.

Ideally, production and consumption of hydrocarbons shall match. IMHO, any over hedging and interruption of supply & demand will upset the equilibrium of prices/crack spread. Below are comparison of Gasoline vs Diesel vs Jet Fuel usage in year 2019 and 2020 (figure in million litres)

Gasoline (Carbon chain C5 to C10)
2019 - 18,400 and 2020 - 15,919

Diesel (Carbon chain C14 to C20)
2019 - 11,287 and 2020 - 10,059

Jet Fuel (Carbon chain C10 to C16)
2019 - 4,526 and 2020 - 2,549

Link: https://www.statista.com/statistics/1078403/malaysia-fuel-use-by-type-of-fuel/

Gasoline Mogas 95
https://www.tradingview.com/symbols/NYMEX-SMU1!/

Diesel
https://www.tradingview.com/symbols/NYMEX-GOC1!/

Jet fuel
https://www.tradingview.com/symbols/NYMEX-ASD1!/

WTI Crude Oil
https://www.tradingview.com/symbols/NYMEX-CL1%21/

Brent Oil
https://www.tradingview.com/symbols/CURRENCYCOM-OIL_BRENT/

Crack spread surfed details:
- 3 barrels of WTI crude oil produce 2 barrels of reformulated gasoline blend-stock for oxygen blending (RBOB) and 1 barrel of heating oil.
Crack spread = 2 * RBOB + 1 * HO - 3 * WTI

- Crack spread usually leads crude oil price by 1 month.

- Crack spread widens when demand for gas or heating oil increases. Because refineries need to buy more crude oil to increase production to meet demand. Crack spread narrows when gas or heating oil inventories are high.

- What is the 3 2 1 crack spread?
3:2:1 crack spreads — three crude oil futures contracts versus two gasoline futures contracts and one ULSD diesel futures contract. Further, professional traders may consider using diversified crack spreads as a directional trade as part of their overall portfolio.

- How do you calculate crack spread?
The 3:2:1 crack spread is calculated by subtracting the price of 3 barrels of oil from the price of 2 barrels of gasoline and 1 barrel of distillate. Additional ratios used for multiple-product crack spreads include 5:3:2 and 2:1:1

- The WTI-Brent spread is the difference between the prices of two types of crude oil, West Texas Intermediate (WTI) on the long side and Brent Crude (Brent) on the short side.

- What are derivative losses?
Basis: losses from adverse movement in the differential between two reference assets that are related but not perfectly fungible. Mishedging is a frequent source of losses in the derivatives market, particularly among active derivative intermediaries that deal in complex products.
Food for Thought..

Reference:
Handbook Malaysia Energy Statistics
https://meih.st.gov.my/documents/10620/bcce78a2-5d54-49ae-b0dc-549dcacf93ae

https://en.macromicro.me/collections/19/mm-oil-price/4376/crude-oil-cracking-spread-vs-wti

https://investingmalaysia.com/brent-crack-spread/

Happy trading and TradeAtYourOwnRisk

@PureBULL: ...Crude OIL Refinery is a superb challenging biz

i.e. the core REASON WHY,
Shell sold away HY at fire sale of rm1.80 n
Esso sold away Petron.,.

Refiner has 3 components:
Inventory profit Refinery profit Retailing profit

BLee: Hi @PureBULL, agreed on challenging, especially for both SRC (HRC) PD and EMB (Petron) PD of more than 60 years old refineries.
Both sold their refinery almost at the same time during the EURO5 requirements, which requires very extensive capital investment. Details in link: https://paultan.org/2016/02/02/shell-sells-malaysian-refining-unit-to-chinese-company/

1) A statement from the oil major said that it is MHIL’s intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements.
2) Shell has been exploring options for SRC including the sale of the Port Dickson refinery or converting it to a storage terminal since at least January 2015.
What will be the ROI with their very stringent specification of BS/European, American and Petronas PTS? I believed with the new owners, will installed own countries cheaper components.
On hedging, usually companies will hedge on the feedstock and not on the products?? I might be wrong on this very hotly debatable subject..
The 3 components for Petron and 2 for HRC (excluding retailers) is also very challenging as prices fluctuate with a very wide band…
The data for petrochemical consumption at link: Handbook Malaysia Energy Statistics
https://meih.st.gov.my/documents/10620/bcce78a2-5d54-49ae-b0dc-549dcacf93ae

Happy Trading and TradeAtYourOwnRisk

@whistlebower99: FOR NEWBIES

MNC is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

BLee: Hi Bro @whistlebower99, thanks for the info. There are two sides of a coin, IMHO, due diligence needed before any shares purchase. A good example is the recent QR of AGESON; details as below..
"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%"
I am very much interested in counters having ICPS due to the anti-dilution, two methods of conversion and auto-convert upon maturity features. High NOSH low price penny stock proposing to do shares consolidation should NOT be a problem for such counters…
Happy Trading and TradeAtYourOwnRisk

@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…??