The problem with Fintec is nobody even their own BOD believes Fintec making so much monies in the stock market recently. That's why we can still buy Fintec at 7.5 sen and 8 sen now. Isn't it a MIRACLE.???

Another ESOS exercise today for new 67 millions shares at the average price of 7.8 sen. This exercise made Fintec richer by RM 5.226 million cash richer. I wonder who actually buy all these shares at ESOS level. No name mentioned.

https://klse.i3investor.com/blogs/THP/2021-01-22-story-h1540095402-STEEL_Industry_HOT.jsp

Everybody will be rushing to buy Fintec if the Fintec directors do it first. So simple an answer.

If Fintec directors not buying Fintec, who dares to buy. 7.5 sen is half sen below RI of 8 sen.

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.

Posted by alan123 on 10/1/2021 above. Replying to Edwardong53

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.

Yes. I am watching this MK Land. Buy when it is still cheap.

DIRECTORS’ INTERESTS IN SHARES
The shareholdings in the Company and related corporations of those who were Directors at the end of the financial year, as
recorded in the Register of Directors’ Shareholdings kept by the Company under Section 59 of the Companies Act 2016 in
Malaysia, are as follows:
Number of Ordinary Shares
Balance
as at
1.4.2019 Bought Sold
Balance
as at
31.03.2020
In the Company
Direct Interest:
Leung Kok Keong 333,350 - - 333,350
Tan Sik Eek 333,333 - - 333,333
By virtue of Leung Kok Keong’s and Tan Sik Eek’s interest in the shares of the Company. Leung Kok Keong and Tan Sik Eek are
also deemed to be interested in the shares of all the related corporations to the extent the Company has an interest.
The other Directors in office at the end of the financial year, did not hold any interest in the Ordinary Shares of the Company
and related corporations during the financial year, according to the register required to be kept under Section 59 of the
Companies Act 2016 in Malaysia.
DIRECTORS’ SHARES IN FINTEC ARE SO SMALL THAT EVEN ANY OF US HERE CAN OVER TAKE THEIR SHARES POSITION. WHAT A SHAME?

Agree with you, Reap88. Directors must show good example by holding or buying their own company shares to boost the investors confidence. If these directors do not have their shares to show, they might as well resign straight away and let investors with trust and confidence run the group. Right?

Due to market weakness, I managed to buy an additional 1 mil shares at 16 sen at 4.40 pm today. I have faith the KLSE market will rally again after a short breather and profit taking week. Today last minute, the KLCI closed 30 points higher and all the Glove Industry stocks like Harta (up RM1.60) , Supermax (up RM1.25) and Topglove (up RM0.70) increased double digit gain today. I wish that the political leaders stop dreaming and stop all their political hoo haa for the sake of the country's economical stability.

I WOULD BUY FINTEC AS MUCH AS I COULD AT TODAY'S 8 SEN PRICE PER SHARE IF ONLY FINTEC DIRECTORS THEMSELVES CAN BUY INTO FINTEC SHARES TO BECOME AS A SUBSTANTIAL SHAREHOLDERS. THE REASON WHY PUBLIC SHY AWAY FROM FINTEC IS BECAUSE THEIR OWN DIRECTORS THEMSELVES DO NOT OWN ANY FINTEC SHARES. HOW WEIRD AND STRANGE?

ctooi51. Please read the above postings of mine explaining why the change of auditors is a must for Fintec. It was the Auditor's fault that had nothing to do with Fintec. Fintec only needed to change that Auditors because of suspension of licence imposed by SC to the former Auditors Siew Boon Leong & Associates effective 19 October 2018.

God bless. I managed to get 500,000 shares at the price of RM0.165 just now. Queue to buy more at 16 sen too.

The Change of Auditors was necessary because the former Auditors Siew Boon Yeong was fined and repriminded by the Securities Commission on Oct. 2018 and thus Fintec took the neccessary step to change Aiditors to PKF International Malaysia who is a more reowned and well accepted auditors worldwide. You must see the reason why they changed Auditors. See below link.
AOB ACTS AGAINST AUDITORS
19 October 2018 | Kuala Lumpur
The Securities Commission Malaysia’s Audit Oversight Board (AOB) fined Siew Boon Yeong & Associates and its Managing partner Dato’ Siew Boon Yeong RM227,000 and RM81,000 respectively for failing to comply with the requirements of the approved standards on auditing in Malaysia. The AOB also prohibited the firm and Siew from auditing the financial statements of a public interest entity (PIE) and schedule fund for nine months.
In addition, AOB prohibited a former partner of Siew Boon Yeong & Associates, Lim Teik Ee, from auditing the financial statements of any PIE for nine months after he was found to have failed to carry out his role as an Engagement Quality Control Reviewer (EQCR) for three public listed companies effectively. The EQCR plays an important role in the quality control process of an audit and is key to safeguarding audit quality. This is the first time the AOB has taken enforcement action against an auditor who was an EQCR.

On 5th March 2019, FINTEC announced the following. https://www.theedgemarkets.com/article/stretched-resources-forces-sby-quit-auditors-fintec

https://klse.i3investor.com/blogs/savemalaysia/2021-01-07-story-h1539206443-Penny_Stock_A_once_in_two_decade_penny_stock_fever.jsp

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.

I support buying at 16.5 sen level. Please support too and I also hope MK Land management also do their own support as well. Many Thanks to all if you do. Thank you. Unity is strength. Cheers. We want it to stay above 20 sen.

Got caught into the Sea of Red. No thanks to all the instability caused by our political goons and people who gave all their supports to the PH govt in the last election that helps created all this political instability today. We have to accept that we, as rakyat are deceived by all the political promises and goodies of a swift and a clean government ahead. Instead we receive all the instabilities we are receiving today. Everyday we got shocks and awes for someone aiming to be the coming Prime Minister. Really disgusting to hear to our ears as an investors in the Bursa.

Fintec huge profits declared in the last 2 Qtrs really awesome. No common group of companies in Malaysia can do such a feat. I believe the Auditors do not simply approved and verified such 2020 Audited Financial Reports. Doing such is against the rules set by the MIA and all the relevant Authorities. But I do understand investing into Quoted and Open Market Securities do have risks but such risks are subject to the rise and fall of each individual shares and portfolio. The Auditors and their Accountants are using the fair value accounting to report the profits. Fair value accounting do not cause the financial crisis (if any), but the crisis may have been aggravated by common mis-perceptions about fair value accounting standards. If we can make these accounting complexities clearer by adopting a dual dimensional approach using one fair value accounting and one historical cost accounting to our financial reporting, then both companies and stakeholders are then be better equipped to respond intelligently whenever any financial markets are next thrown into turmoil again and again and again. Based on my observations on the latest Qtr Report of Fintec, I know this risk and I fully accept what the investing public think about Fintec at the moment. Investing in Fintec now at 8 sen is the lowest if compared to what Fintec has reported such a huge profit. I believe one day Fintec would make a big dividend payout and the investing public will be awed. I invest in Fintec around 2 to 4 million shares only. Do not want to go in too deep, afraid the public fear may be correct because even the Directors of Fintec do not own any substantial shares. This is my only worry about Fintec. Do invest into Fintec and do not go in too deep. That's my advice.

Thanks kenie for your feedback and reply to my question on Fintec huge profits announcement. Sure sound feverish with such a huge amount. But why keep adding new right issues and warrants and icps when they can sell off their quoted shares for quick money. Funny really.

HamsterHuat. Wait one day Fintec declares big dividend. Fintec shoot up like nobody's business. Those not owning any Fintec shares will be left behind. Buy small will be OK. I too notice that Fintec has no big shareholders and has no dividend record. That's bad actually. A red flag though.

Yes. Wishing all of us HAPPY NEW YEAR 2021 and a bright one for all KLSE investors. Make MK Land back to 40 sen a share in 2021. Cheers.

Attention everybody. FINTEC reported 3Q 2020 Net Profit amtg RM720 Million and 2Q 2020 amtg RM151 Million. Such a huge profits achieved, nobody believes? Fintec NTA now is 91.76 sen a share. Why can buy at 8 sen now? Wondering why? So cheap still got people sell.

No Thanks to Lim Guan Eng. The one who made no mistake therefore NO APOLOGY FROM HIM.

Bursa Master is right. He highlighted MK Land on the 21 Sept 2020. Today MK Land has risen above 21 sen. Excellent job Bursa Master. https://klse.i3investor.com/blogs/Bursa_Master/2020-09-21-story-h1514236782-THIS_STOCK_IS_TRADING_WAY_BELOW_ITS_NTA_BIG_UPSIDE_POTENTIAL_POSSIBLE.jsp

Yes. MK Land can do it and MK Land is moving towards its NTA of RM1-00 price. Today 29/12/2020, MK Land closed at 21 sen after breaching 22 sen half an hour before close. Congratulations rhboskres for highlighting MK Land. Thank you very much.

Yes. MK Land can do it and MK Land is moving towards its NTA of RM1-00 price. Today 29/12/2020, MK Land closed at 21 sen after breaching 22 sen half an hour before close. Congratulations to Bursamaster for highlighting MK Land. Thank you very much. BURSAMASTER. You are excellent.

Yes. MK Land can do it and MK Land is moving towards its NTA of RM1-00 price. Today 29/12/2020, MK Land closed at 21 sen after breaching 22 sen half an hour before close. Congratulations to Bursamaster for highlighting MK Land. Thank you very much. You are excellent.

Thanks for the strong support today reaching 22 sen at 16.30 hrs. Musang King supports MK Land to at least 50 sen if possible. Congrats nemesis and all supporters here. With MK supporters coming in the afternoon session, MK Land is poised to have a very bright future from now on. Keep it up MK Land investors.

Nemesis. Who is buying? P&C. I know you are buying. I am buying this super under-valued stock MK Land. Congratulations to all buyers of MK Land shares. Together we remain united and strong. Today transacted at 21sen. Still super under-valued. 470% undervalued if compared to their paid up RM1-00 or current NTA ( Current Net Worth per share ) of RM0.99. SUPER VALUE TO BUY NOW.

OK I will accumulate more before the big players come back after their year end holidays.

If we take a look at the Property Counter, there are hardly any public listed companies with a Paid Up RM1-00 Share except MK Land. They are mostly 10 sen shares or 20 sen or 50 sen counters. Take for example JKG Land who happens to be a 10 sen paid up share. If JKG Land shares are trading at 9 sen each, it means it is trading at 90 sen a share if we convert JKG Land shares back to RM1-00 share like MK Land. Take for instance, if MK Land can do a little share restructuring exercise and announce a share split from RM1-00 to RM0.10 restructuring, MK Land shares are now actually trading at 1.9 sen a share. Tell me, where can you find a 1.9 sen good counter shares in the world. If really MK Land did a share split exercise from RM1.00 share to 10 sen share, I am very sure MK Land can easily be trading at 4 or 5 sen at any time of the year if convert back to RM1.00 share again, will be easily mean MK Land can fetch 40 or 50 sen a share today.

Yes. Hippocrates are made on Earth.

Nemesis. I love to support you to make MK Land returns back to its former glory not at RM1.00 a share but to the highest glory of RM3.60 a share like in the year 2000. This is possible provided the whole KLCI rally up to above 2000 points together. Without the KLSE general public support plus the Foreign Investors coming in like in 1996, going up to this level is quite impossible. I fervently hope that The World Shares and Stocks notice that MK Land shares are now heavily under-valued and it is time that the US Investors notice that MK Land shares ( a confirmed stable, undervalued and strong company ) are now trading at the lowest of all stocks in the KLSE today at RM0.19 which is still 520% below the real intrinsic value of RM1-00.

As long as nemesis lives, I wil make sure MK return back to its former glory at 1.00
21/12/2020 6:06 PM - Nemesis, are you "Tan Sri Datuk Mustapha Kamal" ? You sound like one. Hahahaaa . Tradesafely said : Musang King is tkl88 brother? No, I am not tkl88. But I love the way he supported MK Land. In fact, everywhere his posts are the same. Wow, Awsome !
Now MKLand already traded closing at 0.185 (-0.10) (-5.12 %) !
Keep going up MKLand ! Today, the whole KLCI is red. It is OK.

Huat ah ! Heng ah ! Ong ah !

Wow, Awsome !
Now MKLand already traded closing at 0.195 (+0.25) (+14.71 %) !
Keep it up MKLand !

Huat ah ! Heng ah ! Ong ah ! CHEERS UP EVERYBODY.

THE DAY PH DROPPED THE USAGE OF GST, I ALREADY KNEW THEY ARE A USELESS GROUP OF PEOPLE. THE WHOLE WORLD IS IN FAVOUR OF GST BUT THIS BUNCH OF NEW PH GOVERNMENT LEADERS ALL HAVE DESTROYED IT. NOW, THEY WANT TO BRING IT BACK SILENTLY BUT THEY STILL DO NOT ADMIT THEIR ERROR MADE. THEY ARE GREAT EGOISTIC POLITICIANS EVERYBODY KNOWS. WHAT A SHAME?

HOPELESS HARAPAN.

https://klse.i3investor.com/blogs/Bursa_Master/2020-09-21-story-h1514236782-THIS_STOCK_IS_TRADING_WAY_BELOW_ITS_NTA_BIG_UPSIDE_POTENTIAL_POSSIBLE.jsp

CONGRATULATIONS !!! MK Land investors. MK Land is our darling stock today. Having reached 18.5 sen today and stayed at 18 sen close. Record numbers of shares traded at 18 sen amounting to 6,960,600 shares out of the total shares done today of 17.22 million shares. MANY THANKS to our NEW supporters and also our usual MK Land supporters. With your supports, we have breached the 16.5 sen hurdle as our first target and we are heading to breach 19 sen tomorrow. Cheers up to all of you New and Old Supporters. Thank you. Together we are strong and united. WE CAN MAKE IT BACK TO 40 SEN LIKE BEFORE 2018 & 2019.

Even Genting Group so rich has to reduce so many work forces due to covid pandemic. You all better do not go to Genting for the time being because their staffs are so demoralised and they can lock up all the slot machines to the hardest level in order to gain back some money for the group.

To save cost, company has to terminate some staffs. That's very effective cost efficiency exercise. Why should a company carries more burden if some employees are not considered necessary like those affected by the tourism and leisure industry during this covid era. That's why I said, MK Land is very prudent and cost conscious company. Good work done. We should pat the shoulders of the management for saving company expenses and costs.

https://www.malaymail.com/news/money/2020/12/14/malaysian-property-market-may-rebound-in-2021-outlook-neutral-says-property/1931785

Hope MK Land can go back to 40 sen like before before 2019.

Huayang, right?

Please join me in my quest to accumulate MK Land shares for a Faithful and Religious Retirement Plan I am advocating. In history, the highest price per share for MK Land was RM3.60 happened in Feb 2000. Today, the price is only RM0.15 or merely 15 sen a share, and yet people just shy away from this counter. I promise I shall be accumulating MK Land from now for my old age retirement plan. I honestly believe MK Land has already gained great and vast amount of land banks and MK Land does not need to acquire anymore loan from the banks as the huge land banks are good for sale to any potential buyers. I shall keep MK Land shares for long term hoping MK Land directors to propose more dividends in the future year after year. To me, MK Land group is a very prudent group that believes in saving and providing affordable living properties to the people all across the country. In records, MK Land maintains its profits year after year for all the years in the past.

Invest in MK Land now for a better future. Buying now at 660% discount at the price of 15 sen against the NTA of RM1-00 per share. This group constantly making profits since its inception and even throughout the covid-19 period, the group still can produce a positive result as shown in the last quarterly report 2020.

CHINESE SAYS : SUDAH MATI TAPI MASIH MAU PEGANG PASIR DENGAN TANGAN.