hck1981. The new 2nd largest shareholder must accumulate more shares than CSY to prevent approval of 40% PP. Otherwise spending RM10M for conversion will be wasted as PP will dilute the person shareholding. CSY holds 177M which is 24% of 726M Not too difficult to pick up another 150M from open market as free float easily 450M. Assuming price chased up to RM0.12, for 150M will only cost RM18M. If can spend 10M for conversion I believe should be able to fork out another RM18M-RM20M to gain controlling interest It is to our interest to attend EGM to vote out the 40% PP. Otherwise our small stake will be diluted even further with PP being placed out at price much lower than most of our holding cost. Every vote counts!!!

I remember the history zhm540. CSY convert her VC PA was to prevent NSK from a having a controlling stake in VC and probably as a back door listing. I think the scenario is now different. This party quietly collected VC WC and converted to VC to become the 2nd largest shareholder and in the process pump in RM10M as conversion fee. If you look at VC latest financial results the total assets is RM333M, At RM0.09 VC market capitalisation is only RM65M Even at a TP of RM0.20 VC market capitalisation is only RM145M. Maybe VC offshore money broking licence if still in force could be attractive for a take over bid

The announcement of the VC WC conversion probably to lure out sellers for the person to collect even more cheaply from the open market

The person who converted the 60M VC WC to mother would have paid up front RM10M as conversion fee. Don’t think anybody is that crazy to just throw away RM10M

Not unreasonable VC TP as RM0.20 when the person who converted 60M already valued VC at RM0.195 (conversion fee already RM0.17 + RM0.025 purchase price for VC WC) Even at RM0.20 still below NTA. Hold tight your VC Don’t be in a hurry to take quick profit

The person who converted the 60M VC WC to mother is of the opinion that VC is undervalued and is worth more than RM0.195 Otherwise would not have collected so much VC WC and spend so much money to convert.

From VC AR 2021, CSY is the largest VC WC holder with 35M VC WC which she sold all by 11 Oct. The entity who converted the 60M VC WC must have collected from open market. Assuming VC WC bought at RM0.025 with conversion fee of RM0.17 total cost RM19.5 Nobody will pay such a high premium without a plan. Time to buy.

The entity that convert 60M VC-WC may emerge as the 2nd largest shareholder after CSY. Something is brewing. Nobody will spend so much money to collect VC-WC and to convert to VC if got no plans.

PP may be a good thing. Price fixing I believe will be based on closing price over 5 days. with a slight discount. BOD must push up the price. If PP price too low will not be able to achieve target of raising RM34M.

VC lowest price last year was RM0.025 n March 2020 before share consolidated. VC financial results 31 March 2020 Total Assets RM266M, Total Liabilities RM145M. VC financial results 30 June 2021 shows Total Assets RM338M Total Liabilities RM100M with Term Loan at only RM9.5M. Despite being in a much stronger financial position VC price is at RM0.075 which is lower than its lowest price prior to consolidation. No rational for the now depressed price. Am wondering how long the substantial shareholders is able to withstand VC depressed price if have pledged VC shares.

VC Quick ratio 1.4391, Current ratio 3.1758 Many so called reputable companies price 3-4 times higher than VC have Quick & Current ratio less than VC

Sanichi Quick Ratio 4.6096, Current Ratio 6.8460 which is very good for a share selling at RM0.04

Good that you have not bought back AT. Sonickid. You cannot go wrong with blue chips but not easy to get 50% return on your investment. Penny stocks can easily give you a 25-50% return but must spend time to study the latest financial results. There are some penny stocks that are too undervalued to ignore. If a company have net cash of RM141M, cash per share (ignoring other tangible assets) of RM0.13 selling for RM0.04 I think it is reasonably safe to invest. If it goes up RM0.01, it is a 25% returns

Trust you did not enter AT again Sonickid. If interested in a glove start up suggest you take a look at Sanichi. Now at RM0.04 with NOSH of only 1.4B compared to AT 4.6B
Sanichi has RM184M cash & cash equivalent which should be sufficient for their glove venture

Why AT need to pay so much premium over and above current market price for a stake in Dnonce? I doubt AT have sufficient funds to fulfill their plans to built the glove plant in Taiping and at the same time go on a buying spree in listed companies. Will need to resort to more PP. Only a matter of time before share consolidation exercise. Luckily have yet to enter AT again.

Matrixqc, Bank FD is so low. If you have bought at RM0.035 back in June continue to hold. Once announce purchase of factory (Within 6 months from RI) for glove price will jump up. With cash RM184M don’t think Sanichi need to do PP within the next few months.

VC short term assets exceed it's short term liabilities by approximately RM200M. VC debt to equity ratio is 4.1% which is considered satisfactory. VC has sufficient cash runway for more than a year based on its current free cash flow VC is good value based on its PB ratio. VC is undervalued compared to its Total Assets of RM333M. Don't expect VC will drop to RM0,02 anytime soon. Be realistic

If you still have spare cash can top up to average. Sanichi latest financial results Total Assets RM461M, Cash & cash equivalent RM184M, Current liabilities RM46M At RM0.035 market capitalization only RM49M Even at RM0.04 still undervalued as NTA is RM0.31

Today's volume looks like forced selling. Who has so much shares?

Good to see you back in this forum Michael Kwok. I agree with you on the TP for VC If BOD is serious in raising RM34M via PP for The Louvre project the price fixing exercise needs to be at least RM0.012

MMAG moving up today. Will VC also follow up?

Yesterday VC released the AR. Looking at the 30 largest shareholders CSY has 177,277,507 shares. The 2nd largest shareholder holds 14M and third largest shareholder only 8,850,000 . Apart from CSY no other substantial shareholders hold more than 2.1% There are 6,276 shareholders holding between 1,000-100,000 total 141,629,336 With such fragmented shareholders there will sure to be a number of shareholders who desperately need funds or facing margin calls will sell at any cost. This is the reason I feel why VC is now at its lowest price ever. There is nothing wrong financially with VC & will not go bankrupt as CSY has subscribed for 102M VC RI valued at RM17M If there is another substantial shareholder holding 15-20% of VC, the number of free float will be reduced . drastically resulting in a more stable price

VC yesterday released its audited annual accounts. Looks fine. Don't worry. VC will not go bankrupt. No justification to panic sell at RM0.085-RM0.09 when audited NTA is RM0.54

5M sell order I believe parked to frighten weak holders to throw at RM0.085

Looking at today early trade small amount throw at RM0.085 to cause panic amongst weak holders. Those who are serious in cutting loss would have done so at RM0.10-RM0.14 The large volume being thrown out on 8 July could be forced selling by some mini substantial shareholders who may have pledged their shares. Anybody who sold RM0.10 or lower would have lost money. Volume at RM0.085-RM0.095 are not substantial probably to cause panic amongst weak holders for those savvy to collect. If you read the fundamentals will not easily panic. Do not see CSY selling her stake. Still keeping VC tightly

Good that you have sold at RM0.15 Mamak123 I based my decisions on VC fundamentals, financial results and announcements. Have made many rounds already from VC

Recent RI raised RM56M. At RM0.09 VC market capitalization is RM60M Ridiculous valuation Believe someone is quietly collecting VC

VC made announcement to raise RM33.8M through PP of 291M VC which means fixing PP at RM0.11 Don’t hope VC will drop to RM0.04 for you to buy cheap. If you panic sell at RM0.09 to cut loss have only yourself to blame because VC must appreciate to allow BOD to achieve PP target of RM33.8M Otherwise may not be worth the PP exercise. At RM0.09 PP there will have a shortfall of RM7M from its target which is quite substantial

You are absolutely right seng90. Glove plans may not materialise given current weakness seen in Malaysian established glove players. If this is so money spent to acquire the land in Taiping will be burned

AEM I'd going for RI. This means probably AT will subscribe for the RI. With the acquisition of Asdion & AEM RI, AT will be hard pressed for funds to achieve its plans to build the glove plant in Taiping unless of course even more PP & ESOS Sure eventually must have share consolidation

The substantial shareholder who sold 20M on 1st July disposed another 10M on 2nd July . Still have 106M

On 11 June, this substantial shareholder have 214M shares. Started disposing on 23 June 13M, 25 June 63M, & 01 July 20M

On 1 July a substantial shareholder sold 20M. Still holding another 115M. Every possibility may still sell down further and cease to to be a substantial shareholder & exit Sanichi altogether.

Why worry con counter if you can make profit & company financially OK with NTA 0.53 now can buy for RM0.10?

The comments I read so far in this forum that SD has no auditor is correct. EY has not been appointed auditor to replace KPMG. EY role is just that of an independent reviewer of KPMG findings. If no auditor signs off the AR there will be dire consequences eventually for SD. How many of you managed to cut loss in this morning's rebounce? EPF I believe still have 280M SD If EPF were to unload SD prices may meltdown further

EPF still have 283M SD. If were to liquidate more next week, SD will meltdown even more.

If you were to take a look at MMAG 2020 AR, a large number of the substantial shareholders are pledged accounts. I am not surprised when MMAG have dropped so much, there is every possibility of a forced selling which means n turn will depressed prices even more. To escape this spiral there need to have a white knight who will be able to mop up the large free float and hold them for sometime to bring back the confidence

Unusual for a substantial shareholder of Dato’ Teoh stature to suddenly cease to be a substantial shareholder after having bought 200M MMAG back in November 2020 and to sell 7 months later.

cgt14134, Datuk Teoh became a substantial MMAG shareholder on 27 November 2020 when he acquired 200M shares. Price he paid for his stake should easily be above RM0.30 May have lost no small money when he sold his stake on 18 June. Must have a good reason for doing this

Sonickid, Glad to hear you have not punt again after you sold off at RM0.185. Better keep your money and stay on the sidelines. May even go lower if the glove plans did not turn out as expected. Ha good to see that strategist still with his tertonggeng. As whistleblower99 pointed out correctly there are so many ESOS. From my observations more than 250M AT shares will be issued under ESOD. Never ending ESOS, PP, SIS to dilute shareholders capital &l allowing others to enter more cheaply. Sure down the road will be a share consolidation exercise and even another RI. Risk is too great.

Now that Datuk Teoh is no more a substantial shareholder unless the 145M MMAG shares he sold are in the hands of another financially strong shareholder who will hold longer term, it will increase substantially MMAG free float with more volatility

It has been sometime since I have been in this forum. Glad to note that strategist & sonickid are still here. Looking at the current weakness of the more established glove players what are the prospects for the new kids on the block eg AT & Fintec with so much ambition to be another major player. I would now be even more careful to see the financial results for end June before buying in

Looks like Serbadk will retest RM0 55 again anytime soon

VC market capitalization @ RM0.095 is RM63M. As of March 2021 according to latest annual results VC has cash & cash equivalent of RM50M Do not forget RI raised another RM57M which is not included in the 4th Qtr results. Ridiculous the cash is more than the market capitalization & this does not include the tangible assets.

AGM normally held 6 months after released of final year annual results. For VC financial year ends March. So AGM by end Sept. Please check VC announcement for previous years AGMs dates

mh87, You are right that somebody is collecting large amount VC WC cheaply possibility as an edge to convert to mother in case of another BOD tussle. Am curios who are the top 30 substantial VC shareholders and percentage they control of the issued capital. The data will be reveal when AR released I believed VC will appreciated substantial by the time of AGM & 2nd Qtr results. released

Very few people would have so much VC WC, CSY holds 82M VC WC Also unusual such a large block VC WC is made available on the open market? If VC is read with the volume & sell down of MMAG does it indicate a margin call , an exit by a substantial shareholder of a possibility of an impending BOD tussle

Did you guys managed to exit this morning @ RM0,65-RM0.66? The cover story by The Edge yesterday really raised a number of red flags

Did you guys managed to read The Edge cover story today on Serbadk? There were so many red flags revealed in the write up. Probably Serbadk price will be even more volatile tomorrow in view of this article.

When there is smell of smoke & possibly an impending bush fire don't try to be a hero to buy low & sell high. Not worth getting your house burn down by the fire.