@kcchongnz: Palm oil is different from the steel. You can't simply open up new land and plant palm oil like open up new factories…

BLee: Hi Uncle @kcchongnz, agreed Palm oil is different from steel as we cannot compare apples with oranges. We are on the topic of "Storage Capital Gain and Losses"; Steel does not have expiry date but Palm oil does. Certain Steels have their own strength and usage, but Palm oil is just an alternative to some others edible oil. Cost plays a very important part in marketing of Palm oil, once the cost is no more affordable, alternatives will be found.
I now prefer Butter over Palm oil based products for my bread spread…
This is just a topic for discussion, no malice intended. Thank you for a very interesting article.

@Good123: ...Many hidden related party transactions which are secretive, not at arm length, etc.

BLee: Hi Bro @Good123, hidden or secretive transactions are pure speculative unless you are part of the so-called gang...logically? So please share if got more info, thanks.

A very good write up and very easy to understand the effects of unsold stocks valuation. I hope the next write up will be on palm oil and crude oil refinery stocks.
A recent report on palm oil storage fully filled up all available storage in our neighboring country could be a big concern for future palm oil prices.
It is the same for crude oil refineries, the refineries with bigger storage capacity will have bigger profit margin when crude oil price increases. It is vice versa if the prices drop. It will not be accurate for crack spread calculation if based on another neighboring country due to its massive storage capacity.
Happy Trading and TradeAtYourOwnRisk

Thanks Bro @Musang King for the wishes. I have recovered my paper losses in AGES mother and PA as my holdings in 2 IB increases almost 100% since consolidation/RI. Hope will happen in Fintec soon as Saudee went up 22% and Focus D went up 50% before noon break with high volume...
Happy Trading and TradeAtYourOwnRisk

@Good123: Dielah
Common directors as executive or independent directors and buying one another share below 5% among their gang punya companies to escape scrutiny…

BLee: Hi Bro @Good123, no need Dielah as Focus D last minute before lunch raised by 50% with very high volume.
On Directors reporting, even owning 1 share needs to be reported as per "Directors’ interests in shares -
The shareholdings in the Company and related corporations of those who were Directors at the end of the financial period,
as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 59 of the Companies Act 2016 in
Malaysia"
Happy Trading and TradeAtYourOwnRisk

AGES-PA play catching up in action, mother down a bit, PA up a bit...
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, another stock (AGES) is also doing very well at this moment after consolidation and RI, I hope he (@whistlebower99) do not include in his advice. Some of the mentioned penny stocks also started to rebound from the lowest point and heavily traded...
Happy Trading and TradeAtYourOwnRisk

@Kingston1: Pity those who bought ages-pa, no movement at all. Mothershare huat huat huat ahh

BLee: Hi Bro @Kingston1, AGES-PA logically slack behind the mother share as the unit price very much depends on the mother price direction. So no need for pity as just a delay movement; low risk low gain. In terms of percentage gain, low prices will most likely have a higher gain in every sen increment. AGES or AGES-PA will huat together if either has more demand.
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, good write-up. And also we must compare apple with apple, NOT orange. Different countries have their own sets of rule, why compare?
Happy Trading and TradeAtYourOwnRisk

Hi Bro @Musang King, welcome. We will learn together. No one is an expert in everything. I am quite well verse in Renewable Energy (RE), not so good in accounting. Please correct me if I make any error in some of the accounting statement..thanks

@Musang King: .. directors…they do own any, it is not obliged for them to mention their holdings if they hold less than 5% of the total Shares. Correct me if I may guess wrong. Thanks.

BLee: Hi Bro @Musang King, directors holding are always declared in the Annual Report.
Example:
Page 44 of AR year 2021, declaration as below:
"Directors’ interests in shares
The shareholdings in the Company and related corporations of those who were Directors at the end of the financial period,
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:"
Only problem is that QR and AR are issued very late after the reporting period, therefore the data is not up to date.
Happy Trading and TradeAtYourOwnRisk. I hope everyone has a good trading week ahead.

@Musang King: Now, I have done my research quite in detail on Fintec by now. I have these questions in my mind which are alarming…

BLee: Hi Bro @Musang King, very good questions indeed. I might not have the answers to all your questions, but you might understand more if you know the principle of Investment Company/Unit Trusts/Equity Funds.
In the year 2020/2021, due to expected slow down/lockdown of the economy, listed companies are allowed to raise funds with various instruments such as PP (30% of NOSH instead of 10%), ESOS/SIS and RI. Similar to Unit Trusts, the purchasers are not obliged to be named. Any trust holders less than 5% will also not be obliged to report their holdings, so can open many trust accounts without being named. This might answer Q2 and Q3.
My take on Q1; more important is for invested companies to raise in price, recovering the paper losses. As per recent report, "Investments in quoted securities as at 14 July 2022 of RM199,056,502.41 vs Total Market Value of RM84,442,719.69". Logically, if this over RM114mil recovered, Fintec share price will recover.
Regarding Q4, no comment as I have no details as what stated. The discount of around 10% on 5days VWAP of each issuance will definitely lower the trading price after the issuance.
Q5 might not be relevant for investment based company as share buy back is not a investment strategy.
I have no comment on Q6…
Happy Trading and TradeAtYourOwnRisk

@sting79: Hi BLee: To have an average cost of 0.28 today, it means your cost prior to consolidation is around 0.03…

BLee: Hi @sting79, my average cost is very much lower than yours. I have cost averaging before consolidation but higher than 0.03 for mother shares. I also bought AGES-PA at the lowest of half sen as posted in one of my articles. After consolidation, I have done cost averaging again by buying AGES-PA. It is very difficult to calculate what the average holding cost due to 2 different investments; only can monitor by investment $. Instead of investing RI of 0.2, the $ from selling AGES-OR at half sen is enough to cover the earlier half sen AGES-PA investment and buy more. This lower cost investment is another way to bring down my average cost. Does it make sense?

Note: 5D-VWAP of the Shares up to and including 15 April 2022 (being the last trading day prior to the Price-fixing Date) of RM0.3581 which is lower than 0.03x15. If it reaches RM0.3581, most probably will be my break even cost.
Happy trading and TradeAtYourOwnRisk.

@sting79: At current price, it is only 0.019 (0.285/15) prior to consolidation.
Still a very huge drop for those who bought months prior to the consolidation.

BLee: Hi Bro @sting79, you are correct if you did nothing after the consolidation. Let's say before consolidation of 0.03 x 15 equal 0.45 and pick-up RI of 2 x 0.2, total cost will be 0.85. Average will be 0.28; that will be the present reached price.
The moral of this discussion is the need to act upon news of consolidation and RI.
If whoever have $ to pick-up RI and the access shares, good for cost averaging. If whoever doesn't want to add capital can always cash out after RI news or sell AGES-OR during the five days offer period and reinvest the $. It is just a decision needed to make. There is a lot of chance to buy below the RI price of 0.2??
Happy trading and TradeAtYourOwnRisk

@DoggieInvestor: does anyone here know that Hengyuan's refinery is 40 years old?????

BLee: I have a friend staying just next to ex-Shell PD refinery, saying the refinery was already there in the early 1960?? So is the ex-Exxon Mobil PD refinery. Most PD residents know both refineries well as having relatives working relationships in the refineries. Old is 'Gold'? as having a very regular Technology upgrade? There must be a reason why the 'sold out' to these two new owners besides the need of meeting new environmental requirements and location disadvantage (far away from beach, loading hydrocarbon thro' long pipeline)…

@jagapasar: KUALA TERENGGANU (July 3): The Tenaga Nasional Bhd (TNB) Sultan Mahmud Power Station (SJSM) in Kenyir, Hulu Terengganu is back in operation…

BLee: Hi Bro @jagapasar, many thanks for this piece of info.
To me, this news is worth "the amount of energy generated by hydro could avoid fuel costs of about RM463 million a year, compared to the use of coal as fuel".
Link: https://www.theedgemarkets.com/article/tnbs-power-station-kenyir-back-operation

There are other mitigation methods for diverting the increased cost of coal such as building more hydro stations, solar, etc renewables energy, converting coal fired to gas fired..which is on-going.

Happy trading and TradeAtYourOwnRisk

@Musang King: Extremely well written BLee. Thank you very much for this explanation above.

BLee: Hi Bro @Musang King, thanks for the 'like' and the comment. This article was written months ago, still NO consolidation!!??
Not only that, there seems to be signs of accumulation of shares at 1sen since the drop from 1.5sen to 1sen around 13.06.2022.
Details of trading of accumulation at 1sen:
Date Closed High Low Volume
14-6 0.01 0.01 0.01 13,069,400
15-6 0.01 0.01 0.01 19,633,900
24-6 0.01 0.01 0.01 490,000
29-6 0.01 0.01 0.01 10,260,100

On all the other dates, the selling at the lowest of 0.5sen is very sporadic. As observed, June is really a 'bearish' month, yet Fintec share price hardly affected. I have taken a few snapshots of above details, only do not have the time to write another article.
Caution: The selling queue at 0.015 is a great deterrent for the price to move higher.

Happy trading and TradeAtYourOwnRisk

@JJPTR: AGESON 20:1 reduction ex on Apr 12th. ex price 30c from 1.5c
Now it is 19.5c
Next few months will be 10c
AS more ESOS/RI/PP announced,price will drop further to 2c again.
TAKE YOUR MONEY AND RUN BEFORE 2C arrrive. Now is 19.5c
You will not regret

BLee: Hi Bro @JJPTR, AGESON 20:1 incorrect, it is 15:1. The RI is 2:1 and a subscription of 20sen whereby 3 major shareholders will share a 'ship' of RM10mil worth… You think these 3 major shareholders let the 'ship' sink to 2sen?

@whistlebower99: Operators might goreng down if not easy to goreng up
Either way they will make profit

BLee: Hi Bro @whistlebower99, please 'teach' me how to make profit if you spend RM10mil subscribed at 20sen RI and can earn if you sell below that price?
For ways of gaining with this RI issuance, I have sold AGES-OR and used the $ to buy AGES-PA at 3sen and 3.5sen; in paper gain now. I might post my trade after realizing the gain…So RI and consolidation might be able to make a small profit to compensate for the losses in mother shares prior to the exercises.
Happy Trading and TradeAtYourOwnRisk

@chinaman: We want full liberalisation of power sector like TELCO. monopoly cartel worse than ayam cartel.

BLee: Hi @chinaman, unlike TELCO which only requires pole mounted stations, the power supply needs physical cables and substations to distribute the power. Just imagine all the power line criss crossing over the towns and houses just to have a second choice? Just consider the high infra cost for a new power company, the monopoly of TNB is here to stay. For information, I invested around last Friday's closing price for cost averaging and the good dividend…

Happy Trading and TradeAtYourOwnRisk

@OTB: Sales volume = 10.6 million barrels
Revenue = 10.6*USD130*RM4.38 =6.036 billion
Purchase =10.6*USD108*RM4.38 = 5.014 billion
Gross profit = 1.021 billion

BLee: Hi Bro @OTB, please consider the following details I have extracted from a Google search result:
Quote
What percentage of crude oil is used for fuel?
About 45 percent of a typical barrel of crude oil is refined into gasoline. An additional 29 percent is refined to diesel fuel. The remaining oil is used to make plastics and other products (see image Products made from a barrel of crude oil, 2016). Unquote

The calculation of input/output to refine into gasoline based on using the same value of 10.6 million barrels is incorrect. Tq

Happy Trading and TradeAtYoutOwnRisk

@StartOfTheBull: Another advantages of palm oil are it needs less than half the land required by other crops (such as sunflower, soybean or rapeseed) to produce the same amount of oil. This makes palm oil the least expensive vegetable oil in the world.

BLee: Hi @StartOfTheBull, as mentioned earlier, I am happy Palm Oil price is very profitable now.
Countries which have plenty of cheap and idling land are suitable for agriculture planting, land in Indonesia and Malaysia should be a non-issue. (Observed South Korea and Japan making full use of idling land by the road side and under elevated highway for planting!!, hope to see that in Malaysia due to the food crisis..)
Did the calculation of Palm Oil, the least expensive vegetable oil in the world, factor in the upkeep planting from seedlings to produce the first drop of oil? I doubt it…

Happy trading and TradeAtYourOwnRisk

@calvintaneng: Palm oil takes longer to grow from planting to first drop of cooking oil is 4 to 5 years and after that it will still produce fruit

BLee: Hi Uncle @calvintaneng, I am using the word "gestation" meaning "return of investment" (ROI) only after "birth" and "delicate care" after years only can see the "fruits" of labour. How much money needs to be spent? Fast rotation means fast ROI.
Which is better? I prefer the "cash crop"...

Happy trading and TradeAtYourOwnRisk

@calvintaneng: Actually Calvin is a life long student learning from everybody


And it is my duty to tell facts and truth. Though not all turn out as i hoped but still i happy to see more that is right side than wrong side

BLee: Hi Uncle @calvintaneng, I am also learning from you and everybody else. Since you mentioned hope "to see more that is right side than wrong side"; very much like to highlight that biodiesel is now commercially available from recycled cooking oil of all types.

Link: https://www.wikihow.com/Prepare-Used-Cooking-Oil-for-Biodiesel

https://www.amafiltration.com/casestudies/upcycling-used-cooking-oil-into-biodiesel-with-the-cricketfilter-filtration-system/?gclid=CjwKCAjwqauVBhBGEiwAXOepkcTT6zDeJ3sRnJT4mPenoJL4j2Sa8hQ1JQmPgivXknL40bfTm0vHKBoCfvgQAvD_BwE

And only Palm oil from seedlings to fruit bearing required a long gestation period, others plants and flowers oil a very much shorter planting period. That is another half truth..

Happy trading and TradeAtYourOwnRisk

@Thomas Chan Yeu Wai: Nice article on the concept of dividends leading to cheaper holding costs. Had never look at it this way before.

BLee: Hi @Thomas Chan Yeu Wai, agreed on the concept, but only half the truth..
Question: Where did the dividend money come from? Usually profit making companies can afford to give dividends, that's one plus point in investing in such companies. The dividend is usually from this profit and the share price will be adjusted accordingly…
Growth companies usually don't give good dividends, reserved money for growth purposes…

Happy trading and TradeAtYourOwnRisk

@whistlebower99: Please advise if my interpretation is not correct.

BLee: I can't advise as I am still blur as the calc doesn't seem to match??
Details:
Issue Date 12 Apr 2022
Issue/ Ask Price Malaysian Ringgit (MYR) 0.1500 meaning each AGES-PA used in the calc?

Issue Date 08 Jun 2022
Issue/ Ask Price Not Applicable meaning value of 0.1500 each AGES-PA no more used in the calc? What is the value then?

(i) the conversion price of ICPS of RM1.95 each will be revised to RM1.03 each.
The change ratio has been adjusted to 1.95:1.03, the 13:1 should be reduced correspondingly by 13 x (1.03/1.95) = 6.87:1 if 0.1500 is used in calc. Example: Fintec-PA conversion changed from 16:8 to 11:8 and ARBB PA changed from 20:1 to 14:1 without  the ICPS subscribing price changed after completing RI…

(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.
It seem the same ratio is been used i.e. RM1.8 x (1.03/1.95) = RM0.95, but the value of RM0.1500 AGES-PA cannot be reduced as cash subscribed credited in the ICPS account?? How is this ICPS cash handled??

I am still learning the criteria of investing in ICPS, therefore willing to take the investment risk.

Happy trading and TradeAtYourOwnRisk.

@whistlebower99: I thinking RM0.15 should be adjusted too.
The conversion ratio remains 13:1
Wait for latest announcement of Profile of securities

BLee: Hi Bro @whistlebower99, will wait for the Profile of securities. RM0.15 is money subscribed by RM0.01 x 15 from consolidation, and cannot be adjusted/diluted. Usually the ratio will be adjusted; for example Fintec PA adjusted from 16:8 to 11:8 with RM0.08 value unchanged and ARBB PA adjusted from 20:1 to 14:1 with RM0.01 value unchanged..

Happy trading and TradeAtYourOwnRisk

@whistlebower99: FOR NEWBIES

No. of outstanding ICPS 254,281,099

Conversion price of ICPS RM1.03

Cash payment by surrendering 1 ICPS for 1 new Share RM0.95

============

Take note of adjusted conversion price for AGES-PA

=============

Very out of money at the moment.

BLee: Hi Bro @whistlebower99, something seems not right as each AGES-PA worth RM0.15 and RM0.95 plus RM0.15 is NOT RM1.03??

The other conversion method by exchanging AGES-PA will be RM1.03 divided by RM0.15=6.89

Present AGES-PA price of RM0.035 multiplied by 6.89=RM0.24.

Therefore, the second method is NOT really 'very out of money'.

Happy trading and TradeAtYourOwnRisk

@whistlebower99: FOR NEWBIES

Profit/(loss) attributable to ordinary equity holders of the parent -12,332,126,000
https://www.klsescreener.com/v2/stocks/financial-report/0116/2022-03-3...

Huge quarterly loss of RM 12 BILLION !!!

=============
Company fund continue to be depleted
Will directors raise more fund via shares issuance to PP, ESOS or RI ???

BLee: Hi Bro @whistlebower99, RM12B or RM12M? It make 1,000 times different. The correct version is in the PDF file attached to the announcement, as below:

REVENUE: RM15,528,020
COST OF SALES: RM(8,930,214)
GROSS PROFIT: RM6,597,806
OTHER INCOME RM478,856
OTHER OPERATING EXPENSES: RM(18,701,193)
PROFIT FROM OPERATIONS: RM(11,624,531)
(LOSS)/PROFIT FOR THE PERIOD: RM(12,038,126)
Cash and bank balances: RM74,129,470
TOTAL ASSETS: RM286,323,742
Total Liabilities: RM51,236,441

As shown in above data, cash in hand is more than total liabilities and total assets is more than 5 times of total liabilities. What is the chance of PP, ESOS or RI?

Last fundraising; issuing 2,044,266,042 ICPS and 3,066,399,051 Warrants D on the ACE Market of Bursa Securities on 3 December 2020.
No PP, ESOS or RI since then despite all the speculation..
Happy trading and TradeAtYourOwnRisk

@Musang King: I think BLee also concur with me. He recently posted an article he wrote " I am Speechless". Doing so many of these SIS, PP and ESOS make investors to shy away from their counters and thus making their share prices going lower and lower. It is worrying if Fintec intends to do their consolidation like many of their buddies are doing one day. Do it only when such exercises really benefit the shareholders and the company. Do it with conscience of compassion, care and fairness.

BLee: Hi Bro @Musang King, I concur with you on investors to shy away from this counter without showing any results on usage of accumulated interest free funds.
IMHO, let me explain further:
- There are too many tranches with lower issuance prices due to market conditions. If the market improves, will it be an opportunity to invest at such a low price? I am speechless as my investment at 2sen is still NOT the lowest.
- Investment in a very low debt counter with NTA a few times higher than the market price, is it considered a low risk investment? My opinion is yes.
- The argument of consolidation will push up market prices and the risk of losing market price could be true. Bear in mind consolidation will reduce the NOSH and increase in NTA correspondingly. No dilution involved.
- What is dilution? To me, dilution is an increase of NOSH at a lower price than NTA, therefore a decrease in overall NTA. PP and ESOS issuance at lower prices than NTA is a good example. What if we can invest at this low PP and ESOS price?

I do not have the answer to some of my own questions. It is a risk we have to take, therefore TradeAtYourOwnRisk.

Is Palm oil food? I think Palm oil is an ingredient in food preparation; there are other alternatives to Palm oil.

Interesting article of without fuel, no food can be prepared.
https://klse.i3investor.com/blogs/kianweiaritcles/735271.jsp
Extract from the article:
#"Nearby, a long queue had formed in front of a shop selling cooking gas cylinders, the prices of which have soared.
"Only about 200 cylinders were delivered, even though there were about 500 people," said Mohammad Shazly, a part-time chauffeur who said he was standing in the line for the third day to be able to cook food for family of five.
"Without gas, without kerosene oil, we can't do anything," he said. "Last option what? Without food we are going to die. That will happen hundred percent."#

I would not take any side, both are equally important. There are always alternatives, due to human ingenuity, most problems can be solved.

@kfliau: @whistlebower99 Yes I noticed it. What I can't understand is since the major shareholders forked out so much to subscribe the ri, it will be disastrous to them to allow the price to fall so low after ri. Baffling

BLee: Hi Bro @kfliau, agreed with you, so Baffling. We can't compare an Orange with an Apple.
All the other stocks mentioned by Bro @whistlebower99, did most of the stocks have a record of more than 20 quarterly profits?
Did the majority shareholders make an undertaking not selling any shares prior to the RI completion?
Did the majority shareholders make an undertaking to subscribe up to RM10 million worth of RI shares picking up the unsubscribe shares?
Happy trading and TradeAtYourOwnRisk

@RJ87: Let me offer you another point of view. Push up is not FOC. And no guarantee any extra return from capital risked. Safer thing to do is just consolidate and let it slide while selling whatever ICPS, WA and etc etc that they got for free.

BLee: Hi Bro @RJ87, please allow me to clarify that ICPS needs to subscribe with $, not free as stated.
Please see details:
"RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,163,208,800 ICPS AT AN ISSUE PRICE OF RM0.08 PER ICPS TOGETHER WITH UP TO 116,320,880 FREE DETACHABLE WARRANTS IN FINTEC ("WARRANTS B") ON THE BASIS OF 10 ICPS TOGETHER WITH 1 FREE WARRANT B FOR EVERY 5 EXISTING ORDINARY SHARES HELD BY THE ENTITLED SHAREHOLDERS OF FINTEC AT 5.00 P.M. ON 2 NOVEMBER 2017" meaning paying 8sen will get 1 ICPS and paying 80sen will get 1 warrant B. The word 'free' is just a gimmick..
Happy Trading and TradeAtYourOwnRisk

@ahbah: How can we prepare ourselves to face recession ?

BLee: A very good question. The answer could be invest in recession proof assets such as:
-Education or Skill if still young..
-Properties in high growth areas as location, location, location is very important. Most properties are already time tested as shown by double or very much more increases in trading price over the years.
-A basket of foreign currency, SGD is a good choice. Bear in mind recession could be worldwide affecting all currencies due to Pandemic, Global warming affecting crop shortages and Countries Conflict.
-Invest in some stocks at a very 'low price' undervalue as the downside will be very limited and with high NTA. Switch stocks when necessary..
Just a few suggestions for discussion purposes only as I am not an Economist.

@whistlebower99: Date for announcement of final subscription result and basis of allotment of excess Rights Securities 27 May 2022
Acceptance and Payment 24 May 2022 05:00 PM
Excess share application and payment 24 May 2022 05:00 PM
Available/Listing Date 08 Jun 2022
https://www.klsescreener.com/v2/announcements/view/3535393

===============
TAYOR
51 minutes ago

BLee: Hi Bro @whistlebower99, thanks for the info. How about AGES-PA adjusted conversion price after the RI entitlement date? (As per ARBB RI, 1 day after the entitlement date.) Any idea when it will be announced and the predicted conversion price? Please share if you come across the info. Thanks
Happy trading and TradeAtYourOwnRisk

@Musang King: Bro. BLee, you have done a very GOOD job and really appreciative and indebted to you for spending so much of your precious time writing good postings and a very detailed study on issues regarding FINTEC and FOCUS DYNAMICS. I truly salute you.

BLee: Hi Bro @Musang King, thanks for the compliment. I don't think I have so much time now compared during MCO period as most of my articles are written (blow water) then. I have done my own (S)trengths, (W)eakness, (O)pportunities and (T)hreats for most of my purchases by reading QR and AR; although my purchases are not making $ now, the investment will be 'long and winding'. Hopefully we can make $ together.
Happy trading and TradeAtYourOwnRisk

@HuatHuatHuatLa: Bro, BLee, the largest shareholder is only owns 100000000+ shares, less than 2% le, you should buy 100000000+ Fintec, to be the largest shareholder to get to the Board as MD, to draw fat salary and director fees la. hehe

BLee: Hi Bro @HuatHuatHuatLa, I think I have faced this question before. My answer is I am more into property investment, not interested in managing a company for a fat salary. I will let my $ work for me, not the other way round.
Happy trading and TradeAtYourOwnRisk. Enjoy our day off and Happy Raya Puasa to those who celebrate..

@HuatHuatHuatLa: Bro BLee, buying Fintec is a trick question meh？hehe

l already bought some and planning to buy more @ 0.010 le

BLee: Hi Bro @HuatHuatHuatLa, I am promoting too much on ICPS PA and neglecting mother shares, therefore I am 'slapping-trick' my own mouth since admitting I did buy Fintec mother shares. There are too many exercises of PP and ESOS, each issuance at a lower 5 days VWAP diluting mother share prices until it reaches the present price. Is it an opportunity or bane? All the best to our purchases...
Happy trading and TradeAtYourOwnRisk

@HuatHuatHuatLa: Bro BLee, you bought Fintec mother shares or not?

BLee:. Hi Bro @HuatHuatHuatLa, is it a trick question? Anyway, you are right; cannot get Fintec-PA, getting the mother will do as the band is so small. I did buy some for cost averaging..
Happy trading and TradeAtYourOwnRisk

@HuatHuatHuatLa: Bro BLee, l want to learn from you le, please correct me if l am wrong. hehe

BLee: Hi Bro @HuatHuatHuatLa, making money in the share market needs a lot of patience. I am also learning, that's why we are sharing tips. Either we wait at a lower price for desperate sellers or buy a bit higher hoping the price will move higher. The choice is ours. I am taking the risk now to load up AGES-PA, hoping the adjusted price is favourable…
For Fintec-PA, the band is so small, sometimes worthwhile to buy a bit higher. My average cost is around 2sen, if got price adjustment, I will average down like what I did with AGES-PA.
Happy Trading and TradeAtYourOwnRisk

@HuatHuatHuatLa: Over the last 3 months, there is no transactions for Fintec-PA le, how you invest into PA ah？hehe

BLee: Hi bro @HuatHuatHuatLa, I have written a few articles tracking my investment of 'such type of investment' meaning not just Fintec-PA. I started to invest in AGES-PA early last year, switching from my investment in Insas and Iris. I still hold a little bit of both, all at zero cost. Initially, I have made some gains in AGES-PA, buying around 3sen and selling around 3.5sen. Before AGES-PA Consolidation, I managed to buy at the lowest of 0.005 as shown in one of my articles. I have cost averaging again post Consolidation, now holding around 5sen, in paper loss. Let see what the price comes on 6 May, after the price adjustment. This time I don't know how to count as the formula given is not clear. The 5 days VWAP and RI of 2:1 is not defined in the formula.
Happy Trading and TradeAtYourOwnRisk

@pineapple123: BLee, The current fintec PA is deemed expensive compared to the value conversion of 2:1.

BLee: Hi bro @pineapple123, agreed with you if the conversion is by cash as min. 1 Fintec-PA (base value of 8sen) plus cash of 3sen equal 11sen to convert into 1 Mother share.
Luckily, there are 2 methods. Second Method as details below:
"Pursuant to the Adjustment, the conversion price of the ICPS will be revised from RM0.16 to RM0.11.
The notice to the holders of ICPS (setting out the details of the Adjustment) was despatched on 9 December 2020.
Exercise/Conversion Ratio: 11:8 "

If the buyer queue managed to buy 11 Fintec-PA at 0.005, total cost will be 0.055
Total cost of 8 Mother Shares of 0.01 will be 0.08. The gain will be 0.025.

If the buyer managed to buy 11 Fintec-PA at 0.01, total cost will be 0.11
Total cost of 8 Mother Shares of 0.015 will be 0.12. The gain will be 0.01

In both scenarios, Fintec-PA is still in-money..I have converted most of my investment into this type of instrument due to this flexibility.
Happy trading and TradeAtYourOwnRisk

@M55555: Night club re-opening ... is time now

BLee: Hi bro @M55555, I believed the over RM20mil Operational Profit last quarter is majority from online sales; with more physical outlets opening, the profit will be more.. Hopefully, more patrons will return and with online sales doing well, shareholders will be rewarded handsomely..
Happy Trading and TradeAtYourOwnRisk

@Musang King: Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ ........You asked how do I value them. I cannot tell you but they have BIG plans and GREAT potentials when the Pandemic is over.

BLee: Hi bro @Musang King and @3iii, always buy low and hope the 'rubbish' will turn into a 'jewel' one fine day.

How do I value them? My take:
1. The snowball effect? Fintec is sitting on top of the 'pyramid' . For example, if Saudee jump up in price, Focus D will benefit as owning 22.22℅ of Saudee. This will in turn benefit Fintec as owning 30.631℅ of Focus D.

2. Cash rich (from PP and ESOS) and hardly any borrowing. Hardly any risk at present price. All the profits and losses reported quarterly are on paper only due to fluctuations of the invested stocks prices.

Fintec could be evaluated as an investment company for the two reasons above. The conversion of Fintec-PA could be another source of interest free funds as the conversion ratio is less than 2..
A word of caution, the new glove plant could be a drag as a lot of companies jumped into the glove bandwagon. Please comment on my opinion. Thanks.

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@Musang King: I concur with you BLee. My opinion is one should buy more Focus shares now at the price of 4 sen which is the cheapest compared to buying their PA which is trading now at 1.5 sen and they need 10 ICPS to convert into 1 Focus D. share. Buying Focus D shares now is like buying at a discount of 375%. Please correct me if I am wrong, BLee.

BLee: Hi bro @Musang King, you are correct calculation wise. If based on risk and upfront cash investment, Focus D has the advantage.
1. At the present price, 1 lot of mother share can buy 3 or 4 (based on 1sen) lots of PA.
2. The risk of downside of PA is much less. My investment of slightly above 1sen is in paper gain now. I could loss close to 50℅ if I have bought the mother share then.
3. Take this PA as the IPO price (the subscription price) of 5.5sen selling at 1.5sen. No comment on this item, maybe will take AGES-PA as an example after the price adjustment on the 6 May, 2022.
There are many more advantages of Preference Shares such as will pay first in case of liquidation and others depend on TnC..
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@Ding HL Allan: Thanks BLee for the explanation above. Certainly I can see from your explanation, Focus Dynamics is Fintec 's baby no matter rain or shine.

BLee: Hi bro @Ding HL Allan, just for sharing and please do your own due diligence.
All this shouting of PP, ESOS and Consolidation; Focus D did not raise any funds since the last RI of ICPS as shown below:
Company Name: FOCUS DYNAMICS GROUP BERHAD
Entitlement: Preference Rights
Ratio (New:Existing) 2.0000 : 6.0000
Rights Crediting Date 04 Nov 2020
I believe this ICPS is the latent value beside the yearly Operational Profit.
How much Cash is being raised?
My estimate is in one of my article, link
https://klse.i3investor.com/web/blog/detail/BLee_AGES/2021-07-03-story-h1567802175-Focus_PA_Where_is_the_money
This RI raised RM112.435mil.
Estimated Conversion based on 1 ICPS plus 49.5 sen conversion: RM63,342,353; the windfall cash collection when ICPS in-money..
Estimated Conversion based on 10 ICPS conversion to 1 mother: RM59,133,734 (subscribed ICPS cash changed to paid up capital)
I might be wrong, comments and critics are welcome.
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@Musang King: pineapple123...I think Fintec only acquired into Focus Dynamics around August to Sept 2021. After  skyrocketted in the year 2020. Correct me if I am wrong. Anybody.

BLee: Hi bro @Musang King, please refer to this link https://www.klsescreener.com/v2/announcements/view/3407375

The PDF document appendix 1 Page 21 is showing Fintec already invested in Focus Dynamics before year 2017

"(iv) FYE 31 March 2018 vs FYE 31 March 2017

Item (2. Focus Dynamics Group Berhad Fair value gain of RM72.51mil”

IMHO, since Fintec did not dump Focus Dynamics around April 2021 and acquired until above 30%, there must be a lot of latent value unnoticed.

"A bird in hand is worth a lot more in the bushes". All this Fair value gain is on paper only, selling will not get actual buyers with the correct volume and price..

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@unline: blee, ignore this guy, think he have some problems

your thesis in PA makes a lot of sense and I learnt a lot from you

BLee: Hi bro @unline, PA (Preference Share) is still not popular, I am still learning. So we shall learn together. Let see how AGES-PA performs post RI and what will be the adjusted price.
Some facts:
1. PreConso conversion value: 1sen, PostConso 15sen

2. PreConso subscription price: 13sen, PostConso 1.95, i.e. 15x0.13, Conso will not devalue AGES-PA.

3. PreRI conversion stays at 15sen and subscription stays at 1.95.

4.PostRI conversion stays as 15sen, subscription will be adjusted based on exRI market price (A) and RI subscription price (B) by formula (( A - B)/A)x1.95

5. Subscription adjustment will be finalised by 6 May, 2022 based on exRI market price (A). As seen by the formula, if A - B is closer, the new adjustment is beneficial to AGES-PA. No problem with Conso and RI.

6. Minimum subscription of at least 1 AGES-PA of value 15sen shall support AGES-PA price. This statement agrees with ’sinkalan' (blow water) as it depends on supply and demand..
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@Citadel12: this blee sinkalan everyday

1 hour ago

BLee: Hi bro @Citadel12, 'sinkalan' better than blindly commenting without facts and NOT reading circular at all. All 'sinkalan' BLee sharing details from announcements and circular to balance out 'negative' comments. 'Sinkalan' BLee is just defending investment in AGES-PA, NO intent to offend anyone; but can also be nasty if needed. TQ
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@Michael R.: Conso and then RI PP is is tactical way of stealing investors money.. You bought 10,000 shares but after consolidation yours become 600shares... You though is was ok because NOSH is now too small.. But later got RI and PP to increase NOSH back to the amount close to prior consolidation..

Prices being further push down. Your shares now become almost no value/insignificant...

21 minutes ago

BLee: Hi bro @Michael R., partly agreed as AGES share price now almost reaching RI price. The sequence is PP at 0.05, then conso 15 to 1, meaning PP price will be 0.75 post conso. So whoever takes up PP is losing more than 50%, got the chance to cost averaging at RI price of 0.20. Only PP/retailers who don't subscribe to RI will be diluted in value (NTA). The one who picks up the access shares will gain. Seems 'Big Shark' will 'sapu' the small 'billis'..I will cost averaging my AGES-PA before the ex-date.
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@linheng: Now market cap is 30 million. Owe Maybank 10m. Fully subscribed rights issue is 40m. If drop to 20 cents ( the rights issue price ), mkt cap after rights is 60m. Minus Maybank debt of 10m. Balance is only 50m after burning so much retailer's cash. Who will buy?
1 hour ago

BLee: Morning bro @linheng, market cap is NOSH x market price, nothing to do with debts. Once Maybank debt is cleared, operating profit will improve, plus point. Previous PP is used to clear RHB debt. So next QR reporting will minus all this interest payment. All these debts are from the previous management??...
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