I doubt if even Fatty can dream up another fantasy to make this acquisition look positive.
It appears, at face value anyway, to be a very odd purchase.

I have always believed that no listed company can trade while being in the knowledge that the company is insolvent.

Correct?

Since when did the SC become a tool to assist Bumi companies with possible nefarious intentions and dubious corporate governance? Simple answer, NEVER!!
I was furious when I read the above article.......and ALL investors should be. Wake up, please!

About SC.
Our mission is "to promote and maintain fair, efficient, secure and transparent securities and derivatives markets; and facilitate the orderly development of an innovative and competitive capital market".

The SC has direct responsibility for rule-making, enforcing regulations pertaining to the capital market, ensuring sustainable market growth and development, supervising capital market activities and market institutions including the exchanges, clearing houses and registered market operators, and regulating all entities and persons licensed under the Capital Markets and Services Act 2007. Based on the SCA, the SC reports to the Minister of Finance and our accounts are tabled in Parliament annually.

Our areas of responsibilities include:

Developing the overall capital market and its market segments such as the equity market, bond and sukuk market, Islamic capital market, fund management, derivatives and other market-based platforms and services;
Facilitating innovation and digital services through the capital market;
Creating avenues for a sustainable financing ecosystem;
Ensuring proper conduct of all market participants through our supervisory, surveillance and enforcement work;
Championing good corporate governance practices; and
Facilitating greater cross-border regulatory co-operation and thought leadership.


Underpinning all our work is a firm focus on investors. Our core mandates to regulate and ensure market growth are always done with the objective of protecting the investors, including initiatives to raise their levels of financial and investment literacy.

https://www.sc.com.my/about/about-the-sc

@ VivoPrince, thanks for posting that article.

I am speechless!! The level of competence in this country is even too low for zero!

@choysun, the amount of tingling that would create would possibly require a change of undies every hour! :)

There is a lot of work to be done before we start fantasising about Rm10 tickets and ladies in push up bras and panties. For the immediate short term I'd suggest we look at the 9.10/9.12 and 9.20/9.22 price points with perhaps a gradual increase in volume.

If/when these points can be breached, then we can reassess. A long journey starts with small steps, so keep the faith :)

I mentioned in a post yesterday before the market opened that the chart was indicating that a break of Rm3 looked inevitable but required much stronger volume for that to happen.
I have no idea why "they" chose yesterday to make their move but the required volume boost came in around 10am and lasted for the remainder of the trading session.

Thursday's volume was 6.41 million, then Friday's boom volume came in at 17.14 million. The volume exceeded my expectations, as I would have been happy with 10 million :)

The chart still remains positive with each level being respected with a marginal pull back and consolidation. Another positive should be the 2.8 million shares bought by the major shareholder at these price levels over the past 2 weeks.
A solid quarterly should reaffirm the recent price moves, with hopefully enough in it to progress the price higher.

The upcoming quarterly report is for January to March so I'm unsure how this will look, however I'd expect the following quarter (April to June) to be more robust than the upcoming one, mainly due to the opening up and removal of MCO restrictions from April 1.

Interesting mid to longer term period coming up, imo.

prudentinvestor, I think any readjustment of the price when it goes ex dividend will probably be short lived, perhaps a bit similar as to how Maybank's price reacted to going ex dividend on March 16.
We also have to consider what the price will be the day prior to the ex date. By closing on its daily high on Friday at 6.25, my next target level is 6.29 if it keeps following its Fibonacci path.

Beyond that, we should be looking at 6.46 as a further Fib. point. It would be very bullish if it could reach there before the ex date.......but perhaps I'm setting my short term hopes a bit high :)

Although anything is possible with its current positive sentiment.

No new short positions for this week. With the little spurt in price on Thursday (intraday low 8.89) and Friday (intraday high of 9.06) the shorts didn't enter the game for a quick flip.
To summarise the last two weeks of shorts, only one day of 800 with the other 9 days of 0. A positive sign? Who knows~~

Short covering for the current three days of reported figures of this week = 62,700.
Thursday and Friday's figures wont be available until late next week due to the public holidays.

Going to busy over the next few days as I organise to Patent the new "tingling nether regions" indicator, which seemed to be quite successful on Thursday :)

lol....what a shambles.

hi MiaoMiao7, I think it's fair to say that anyone who bought after the red flags were raised in May last year and deciding to hold the stock were taking a very big gamble. It's akin to placing a bet on red or black on the roulette table at a casino.

Some you win, some you lose.......a pure gamble......and certainly has nothing to do with long term investing.
At this point in time it looks like the gamble didn't pay off for many but they should have been well aware of the risks as it was very public knowledge.

I genuinely HATE to see people lose money, however those who bought after May 2021 should be well aware of those risks.

ken2004 . from memory KWAP were reporting their sales until they reached their 5% holding. Once they went below the 5% threshold they no longer need to report any selling.
I hope that helps.

1) The above Company's securities will be traded and quoted "Ex - Dividend” as from: 17 May 2022
2) The last date of lodgement : 18 May 2022
3) Date Payable : 16 Jun 2022

On 28 February 2022, RHB Bank had announced a single-tier final dividend for the financial year ended 31 December 2021 of RM0.25 per RHB Bank Share ("Final Dividend") of which the shareholders of RHB Bank may elect to reinvest a portion of the Final Dividend comprising RM0.10 per RHB Bank Share ("Electable Portion") into new RHB Bank Shares to be issued pursuant to the DRP ("DRP Shares") with the remaining portion of the Final Dividend of RM0.15 per RHB Bank Share ("Remaining Portion") to be paid in cash. If only part of the Electable Portion is reinvested, the balance of the Electable Portion not reinvested and the Remaining Portion will be paid in cash.

Following the above, the issue price of the DRP Shares had been fixed today at RM5.17 per DRP Share.

A bit of Friday night humour, trying to delve into the mind of PearlWhite.

Please don't click the link if you are offended by an animated pig.

PearlWhite claims...."It's still good....it's still good"

https://www.youtube.com/watch?v=spqDzX7UDIA

yfchong, don't take any notice of what they say at Tg. Rambutan.
Did you notice the dodgy after market auction close? Closed at 6.86, then in the auction closed it at 6.99 on 170k shares.

Yep, and I hope they keep doing it. A lovely bit of consolidation going on here.

It's on ly closed twice in the last 34 trading days below the short term moving average. But you might be lucky.

Good luck with that plan.

And your point is?

tksw , why are you still interested? I thought you said you sold out this week.
Bought back in again?

BNM awards digital banking licence to RHB-Boost, GXS Bank-Kuok Brothers, YTL-SEA, AEON Credit, KAF Consortium

https://www.theedgemarkets.com/article/flash-bnm-awards-digital-banking-licence-rhbboost-gxs-bankkuok-brothers-ytlsea-aeon-credit

Still happening, not only to my posts.
Admin, some acknowledgment would be nice, members are trying to help you here.

HLB's Jeremy Goh seems to be totally out of sync with many other analysts...........who knows, he might be an undiscovered wealth of knowledge.
I remain bearish on this stock.

https://www.theedgemarkets.com/article/analysts-maintain-bursa-malaysia-earnings-forecasts-some-see-valuation-downgrade

One resigning,. ok
Two resigning, a coincidence?
Four resigning.........a statement.

I'm speculating that senior SC execs are now drawing a line in the sand to state they are totally disgusted with what has been directed by the AG. Just my opinion.

https://www.theedgemarkets.com/article/three-more-top-officials-leave-sc

lol :))
My magnet can do things that mere mortals can only dream of :)

LM, have you been following the daily values for April? I'm a natural born pessimist but they are even worse than I had envisaged! :)

"KWAP has relinquished its entire stake in Serba Dinamik and is no longer a shareholder," the pension fund said in a statement on Friday (April 29)

https://www.theedgemarkets.com/article/we-are-no-longer-shareholder-serba-dinamik-says-kwap

Clearly the perception of winning a digital banking license is seen by the market as a plus.
However, imo, if RHB were not to be one of the successful bidders I don't believe that it would dent its future growth prospects.

Do I want them to win a licence? Yes.
Is it a deal breaker if they don't get it? No.

Agree BobAxelrod.
I get more than a little annoyed when I read that wrongdoers will suffer in the supposed afterlife.
Their suffering should start here.

Reality setting in as the shorts started to enter the building last week.

Most of any posts I've made this morning disappear on the main page of the Forum.
Not only mine, numerous other posts too.
However, they remain on the company thread of the Forum.

Just giving Admin a head's up.

Yesterday's total volume was 6.41 million.
Not quite into two hours of today's trading and we are at 7.4 million.

That's what I meant when I said earlier this morning that it would move on higher volume. It was around 10am that we had the BIG BANG volume entering the building.

Murmurs of the Digital Banking Licence being announced today.

https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2022-04-29-story-h1622349368-BNM_to_Announce_Digital_Bank_Licence_Winners_on_Friday_Say_Sources

Bang.....and there's the volume.
Hope it exceeds yesterday's volume to remain buoyant.

Hemsley, not without increased volume. I think a break above Rm3 and to remain above there will eventually happen but I'm not too sure of the timing when I check out the chart. Just monitor the volume, imo.

The chart technicals are starting to look a bit more interesting on a couple of indicators. It still looks like it needs volume to make that break of Rm3, which is also the upper Bollinger Band line. If it was to exceed yesterday's volume and there is a chance........but keep in mind that the market closes until next Thursday, after today's trading session.

With yesterday's 730,000 purchase, this takes Dato' Sri Cheong Kong Fitt's buying tally from the 18th April to around 2,800,000. He appears to have confidence in the company's future so let's hope he's a good indicator to the overall company performance and growth.

tim09 , perhaps you just farted. Both have the same odour to them.

Agree LM, although it's not as if it wasn't expected though.
The market needs to kick on over the next 2 months, otherwise if it remains as it is, then expect their next quarterly EPS of 7.X

hmmmm....it appears that a tingling in the nether regions is now officially a new technical indicator.

:)

Turn up the volume, please.

I'd like to repost an extract from a previous post I made, mainly for the relevance of the Fibonacci numbers mentioned. This was posted on April 9 and I think the figures remain relevant.

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Apr 9, 2022 12:00 PM | Report Abuse

This appears to finally be reaching towards the crossroads on a technical analysis. The question is, how long or short will the time period be before it takes an up or down direction. The last time it was in this position (or reaching this position) was in December 2021 and early January this year. Eventually it broke out to the upside on January 11th.

As a holder I obviously have a natural bias and believe the break will be to the upside. Trying to be unbiased, I'd think that a break and close above 6.08 would indicate that the Rm6 "psychological barrier" has fallen.. As it possibly moves into uncharted waters, I've use Fibonacci to determine some reference price points:

TP1: 6.10
TP2: 6.18
TP3: 6.29
TP4: 6.46

lol @tksw , I wouldn't let one ramper influence my investment decisions.

@kimpau.......glad to see you removed the two posts I highlighted.

Let's put it down to a mistake on your behalf and not for other possible misleading motives.

It's not a conclusive indicator, however a started to get a slight tingle in my nether regions when I took a glance at the Tenaga chart this morning. A break above 8.97 might help with decision making but a buy around 8.90 to 8.93 might be worth considering.
Current low volume is a bit off putting but worth keeping an eye on for any changes.

Perhaps it might be taken for a walk leading to the release of the quarterly late next month.

If it looks like a breakout and smells like a breakout, then it might be a breakout :)

kimpau, what are these two purchases for? I see no mention of these in the PTrans announcements from yesterday. Yes, there were more purchases from Dato' Sri Cheong Kong Fitt (545,600 at RM0.6405 per share 220,000 at RM0.6502 per share) but nothing about the other two you have quoted (see below)

27-Apr-2022 Acquired 214,700
Registered Name AMSEC Nominees (Tempatan) Sdn Bhd -Pledged Securities Account for Andrew Lim Eng Guan

27-Apr-2022 Acquired 2,370,800
Registered Name Kumpulan Wang Persaraan (Diperbadankan)'s Fund Manager
Reason
Kumpulan Wang Persaraan (Diperbadankan)'s Fund Manager (Acquisition of 2,370,800 shares on 26 April 2022)