morning trading slow as investors took the sideliners ahead of the central bank's monetary policy committee OPR announcements.

The decline was was also felt in the oil and gas sector as fears over an impending recession cast fears over demand risk.

Posted by Gn021 > 2 minutes ago | Report Abuse

u go check the annoucement first

it is DBT , not sold in open market ............

u go check.

.......................

u rite yesss via DBT already acquired by SRL..waiting for BSKL to officially updated latest REB shares in the market in addition to the new issuance shares.

OPR news likely to spiked to 2.25% by BNM to address inflation. today or tomorrow will come out..... just be mindful .this likely not very favourable to the market

30 JUN 2022
KUALA LUMPUR:

1.Reach Energy Bhd (REB) has proposed to issue 1.03 billion new ordinary shares at an issue price of 20 sen per share to undertake a debt settlement exercise involving RM206.51 million owed to Super Racer Limited (SRL).

2.At the same time, SRL and Cheung Siu Fai, acting in concert with SRL, intend to seek an exemption from the Securities Commission Malaysia from the obligation to undertake a mandatory take-over offer for the remaining REB shares and the outstanding warrants issued by REB expiring on Aug 15, 2022 on completion of the proposed debt settlement.

3. In a filing with Bursa Malaysia today, REB said on completion of the proposed debt settlement, SRL will enter into a shareholder loan facility agreement, or procure that Cheung enters into a shareholder loan facility agreement (either by himself or jointly with SRL), to make available a shareholder’s loan facility of up to RM22.01 million to REB.

4. The filing said RM19.51 million from the proceeds from the shareholder’s loan facility are to be used as working capital and RM2.5 million as estimated expenses relating to the proposal.

5. "The proposed debt settlement is expected to substantially reduce REB’s interest servicing obligation, and subsequently, to alleviate the financial burden of the group," the Bursa filing said, adding that the proposals are expected to be completed by the second half of 2022. - Bernama

https://www.thestar.com.my/business/business-news/2022/06/30/reach-energy-to-undertakerm20651mil-debt-via-issuance-of-103-billion-new-shares

Posted by Gn021 > 44 minutes ago | Report Abuse

no, not sell through open market

u check back new ammended annoucement, sell through DBT

..................................................

do not be mix up...............

1032+ billion shares are new issuance share dealed through DBT already picked up by SRL as debt contra.......meaning SRL is now majority holder ..

MTD shares of 114 million was sold in open market and pick up by investors retailer bilis shark whales..in the open market

127384 lots at 1040..wowwww eatt eatt

yeaaahhhh throw at 0.05 plummeted

hahaaaa

leftover hair.....armpit hair.....or asamkeping hair......

waiting for new issuance 1032 millions share into the market...already acquired by SRL via DBT .....

yeahh..consolidqtion pull the stock

but after this new Rto..u can say it..reach...may get better likely

push luck or what

principle cannot pay... what about additional interest spike... more wound....how to convince funders.... no hair...no nothingvto cut

.predicted another 25 basis point rise in September to 2.50%,

hahaahhaaa keep me laughing till tomorrow....... bull u re rite......... now buying time playing time.....and meanwhile bilis stucked for another 11 months......better put somewhere having good and sound fundamental.. but if want to follow ....please do so.....own decisions ....mindful all the venom and hole

UPDATED 03 Jul, 2022
DATA Company Financials

simply wall Analysis on Reach.

Debt Level: REACH's net debt to equity ratio (182.5%) is considered high.

Reducing Debt: REACH's debt to equity ratio has increased from 63.1% to 188.7% over the past 5 years.

Cash Runway Analysis:
1. For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

2. Stable Cash Runway: REACH has sufficient cash runway for more than 3 years based on its current free cash flow.

SE bz dependable on new cash injections fm funders..... Funders too worried for her ability payback loan... even now defaulting too many termed loans + interest.. no more hairs left except ... ........... without which gone case

proven SE is prompt and habitual for being good defaulters shenanigans it facts....

wait 5/6 july (Tuesday /wend) the 4th for 2022 Monetary Policy Committee (MPC) Meeting ...BNM declare another spike in OPR...hahahahahaha see Thursday or Friday ?

Posted by cicakman > 1 minute ago | Report Abuse

Biji pun sudah macam asam kecut...dah tu gelebeh liat mcm selipar jepun.
kehhhh...kehhhg.
.............................

laughing all the way ...stomach arching hahahahaaaa.. Only wise man talks wisdom hahahahaa

Posted by BobAxelrod > 9 minutes ago | Report Abuse

More and more smart investors are sick and tired of this despicable and narcissistic
.......................
bob nice words and wholesome description hahaaaaa ..... hard to disagree ....

11 months for playing games and collect bilis monies.. stuck on you ..Lucky for next - 3 years if still breathing... Bz operandi loan loan loan to run bz.....ppl do bz to profit but..here doing bz in debt debt debt... how.??????...if u re an entrepreneur ...likely sooner later to jump plummeting fm penang bridge.. simply deductions.......non profiteering stock..no good to be near.....everyday begging for funds more more...yet nothing of constructive delivered ..only saliva water...hahahhahaha top gunners fatter... exiting ship in style...leaving plenty of holesssss debt ridden ship to remain afloat .....

must be zombie or chinese doll hahaa. mabel must be cute and ayu..hahaa

cicakman as always speaks of wisdom....good guy...

lousy counter. ....if debt piling. Piling and piling .. no funders want to commit,.. default termed payment even to 3000 vendors ...sounds like breached of everything in the book doing bz on loan after loan after loan, non profiteering...why wait for this keriput stock.. twisted ... for ever manipulatives ....misleading investors to big black hole... loss by years every years for many years...can talk shinning star..mercury mon.......but never shine as always gloommm and gloomier never prove to be resilience....just unsustainable entity new CeO even admitted this .........so how to justify

financial and management shenanigans ..that's facts never to deny...the reality living prove the saga SE is now...hahaha

rite.....

hahaaaa runnnnnnnnn

1, Emir Oil has oil reserves with book value of RM944 million or 86 sen per REB shares

2.REB would require significant funding commitment towards the development of the Emir Oil’s oil reserves before the value of the reserves can be realised

3. Though REB has been loss-making since its special-purpose acquisition company (SPAC) listing in 2014, with accumulated losses of RM365.84 million.

4. BUT In the first quarter ended March 30, 2022 (1QFY22), REB booked a net profit of RM366,000 on revenue of RM51.22 million, more than double from RM23.06 million the year before.

promising growth year to year + something of interest

good move ....positive direction of the company to be competitive and sustainable

Posted by adikkici > 1 day ago | Report Abuse

Why the tycoon don't want buy 0.055 in open market ? But want to buy 0.20??
...........................................

issuance of new ordinary shares ....1032 plus billion shares at 0.20 cents and ..transaction being done via Direct Business Transaction DBT whereby a contract for sale and purchase of securities transacted on the stock market of the Exchange that is done outside the ATS.(automatic trading sys)......... already acquired by buyer.....but not yet pun on open market. once put sure dilution .............

debt barter trading with SRL

expectations and anticipations??????????? during the period ....../ probability of success....failure then what?
stuck on you hahahahahahaa

The Board of Directors of the Company wishes to inform that the Company is in the process of formulating a plan to regularise its financial condition (“Regularisation Plan”). The Company has approximately ....eleven months ....to submit its Regularisation Plan to the relevant authorities for approval. The Company will make the necessary announcement(s) on the Regularisation Plan in accordance with the requirements under the PN17.

This announcement is dated 1 July 2022.
-------------------------------------
hahaha forever in processsssssss long gone already.....wowwww 11 months....hepi trading.......lap and cornered for 11 months for the games.....race against all odds

coffee and sandwiches besides the waterfall paradise....haha

SE should downsizing its entity to a more manageable level.....small but means and resilience ...
NOT big but bloated with shenanigans astray haywire and unsustainable

SE bz is loan pay loan pay loan.....loan.... snowballed debt ..now pretending to ...shed crocodiles tears .......yet top managements handsomely paid never miss... company sinking sinking and sinking........even nowwwwww legacy projects are non profitable...howwwww lots of contracts yet delivering abilities are zombie...of questions?? .. this are the reality and predicaments for investors .......... what kind of bz is this...debt loan bz of what???????? open the grey matters..hahahahahaa shame and sad.... its being idolized as a futuristic .....only day dreaming...even out of bskl..bz as usual to them...hahahahahahaa nothing much good to the country. all bulll and shit only...do not make it liabilities to the public .....

hahaaa wiseman cicakman wisdom....facts ....true...SE better off out of BSKL rather than be beggar and making blunder to the system and manipulative to ........victimised the bilis and investors...nothing of benefit to the public rather then be blotted with management shenanigans and financial problematic entity

ats..automTic trading system

.Direct Business Transaction A contract for sale and purchase of securities transacted on
the stock market of the Exchange that is done outside the
ATS.

NST Leader: When gatekeepers fail
https://www.nst.com.my/opinion/leaders/2022/07/809746/nst-leader-when-gatekeepers-fail

mtd selling at loss ayahhhh..why cannot wait or mtd itself problematic

everybody talking about haircut....SE has got no more hairs to cut...left balls and a bit of hairs only hahaaa

singor...your views on Aax... it seems sound aaX is exercising extortion gameplay on the funders....hayass

why MTD dispose........if anticipated good outlook??????????? why...MTD should hve hold then ..unlesssssssssss

question is for hoow long stalemate....revenue fm oil initiatives only materialised later .....time being be on side line

weekend with nasi lemak over the beach......looking far of SE fate over the horizon...so near yet too far

Posted by Good123 > 11 hours ago | Report Abuse

CAPITAL REDUCTION IS INEVITABLE.... HAIR CUT DAH PASTI... SEE WHO KENA HENTAM NANTI
---------------------------

yeeah down sizing? consolidation?.......selling assets to pay lialibities....so whats left? cannot brain why 3000 vendors are not being paid........ breach of term? likely to incur interest late payments or default payments? where are all the revenue went to.....? mismatch...yet want to run business. knows only loan loan loan from funders.....of course this type of loaning bz to run is unsustainable in the long run... this footprints were all over ...so howwww?

Posted by Nikmon > 10 hours ago | Report Abuse

3 bil out of 8bill need to pay to sub contractor immediately if 50% haircut. else will bankrupcy. Then need another 2 bil as stated earlier for operation and biding..
.............................................................................

trueeeeeee nikmon sweating man ...need more oxygen please......choking
wowwwwww super tanker laden with rubbish..even rubbish got value...now turning to super tasks . Then where are the gain profit?where ae the previous BoDs....... hepi exiting the sinking ship going Hawaii ..Caribbean Honolulu hahaa even to trade off debt just a teaspoon.... from .years back ..SE have been loss company. for years ...inject $ in billions.....loss..... doing bz at loss and no cut off point....... as if loss quantum of no limit...

irony BoDs never miss emolument and perks.......AGM only to endorse perks and remuneration...... hahahaaaa but company heading south sinking further.......tillllllllllllll becoming zombie..then start shouting for bail out.......for more monies fm ........others.... oligarchs playground of the same
what kind bz model s this...... LOOK at REACH........as comparison ..how she mitigate the same scenario ....

oku..duitkopi..cicakman your wisdom are crispy clear for painting the reality....less ppl protecting investors fm doom...they are just luring and misleading bilis..into slippery cornered road and twisting allies....

slow death.....waiting hoping for goodwill gesture. .thus is not o&g business ..this is trade off dump pump game musical chair....

longterm..chinese factor to secure oil for chinese future consumption....

1096+ billion shares (existing) + 1032+ bil shares ( to SRL - offset debt settlement ) ..total of 2127 billion shares...dilution wise how? TP