Don't spread panic la. Its a long weekend, people are taking profit.

Just look at the bid/ask spread earlier. Its clear people were throwing and buyers disappeared for a while. Now the buyers are back at the 30/30.5 levels.

Relax.

Long weekend + Month end + North Korea noise again + Emerging markets currency issues + General negative futures globally =

Sell first/Take some money off the table.

Enjoy Merdeka weekend. See you all next week.

Don't worry about the WA. It will shoot up once mum trades higher.

WA trades at a steep premium so mum needs to really move up first.

Haha you guys are hilarious. Running commentary.

Goreng? Not so.

1) First ever profit since listing

2) Production output to increase in subsequent quarters

3) Oil price remains steady. Expected to remain steady going forward.

4) Clean balance sheet - zero borrowings

5) 1P, 2P, 3P reserves all disclosed on Bursa

6) NTA = RM0.74. Trading at huge discount to NTA

7) EBITDA 1Q18 = RM7.7m. 2Q18 = RM29.9m. This is a crucial improvement. Don't just look at profits. Go ask your PE friends whether this is a huge improvement which points to a significant turnaround in the company.

8) Share price at RM0.25 was all time low. In fact closed at RM0.25 3 times and all 3 times rebounded from this level. Today gap up because 2Q18 results showed the improvement as mentioned in 1)to 7) above.

9) TA buy signal also came out today.

10) Risk/reward favoured taking a bet, considering reasons 1) to 9) above.

So please don't say goreng if you've missed the boat.

Also what's wrong with the market? Nothing is wrong.
-In fact, PBOC's move to stabilise the Yuan has boosted markets.
-Fed speak at Jackson Hole points to a gradual rate hike trajectory.
-In Msia, the budget is not too far away. Government has been cleaning up the nonsense. These are all good for the market. So do please tell me what's wrong with the market?

Not bad, spike after my post. Hahaha.

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Posted by bizzybone > Aug 28, 2018 03:57 PM |

First quarterly profit ever since listing. Stripping out FX gain, still profitable.

Even if the company doesn't increase production in subsequent quarters, with all being equal, Reach will still make profits.

Will oil price decline? Maybe, especially if trade issues between China/US gets worse as this will affect oil demand. However, with Trump as President there will continuous geo-political tensions, which would support oil price.

Hence, the way I see it, even if the mgmt is so lousy and can't produce more oil, it'll still be a profitable company. Unless the mgmt really screws up.

First quarterly profit ever since listing. Stripping out FX gain, still profitable.

Even if the company doesn't increase production in subsequent quarters, with all being equal, Reach will still make profits.

Will oil price decline? Maybe, especially if trade issues between China/US gets worse as this will affect oil demand. However, with Trump as President there will continuous geo-political tensions, which would support oil price.

Hence, the way I see it, even if the mgmt is so lousy and can't produce more oil, it'll still be a profitable company. Unless the mgmt really screws up.

KillBuffett, if the problem is small and can be rectified easily then of course. But this is a new govt. They have to be seen as transparent. They has to uncover all crap the previous govt left behind.

I've seen many companies try to cover up problems, only to be hit later. Once the market don't trust them, its hard for the co to recover.

But being transparent early, market may sell first, but they will appreciate the good corporate governance.

Hence short term pain, long term gain.

Besides, its how we read markets and navigate. Market up or down, there's money to be made.

@killbuffett I agree, but I think they want to turn every stone early.

First rule of solving a problem is recognising there's one.

Check everything, review everything, reveal everything. Put all issues on the table.
Then tackle accordingly.

Short term pain for medium to longer term gain

The selldown in the market is good. Its clearing the way for a more fundamentally sound market. Once the dust settles on the new govt, policies, appointments, 1MDB, etc...foreign funds will come back. In the meantime, they sell first.

Also bear in mind there are lots going on currently:
1. Trade spat with China still uncertain after new Trump comments
2. New issues with North Korea
3. Emerging markets currency issues
4. Fund flow to US in view of expected June hike by the Fed

Window dressing doesn't require buying it up. Just have to mark up at the close.
I could be wrong though.

Fingers crossed this is the turn we were all waiting for. The vols done today is a good sign.

Also month end. Funds don't usually buy at month end.

If nothing crazy happens in global markets tonight, Monday could be good for EKO. First trading day of a new month. Funds may decide to take a position.

Lots of global markets closed tomorrow. This is good. The madness can take a break.

Too much speculation; stick to FA. Today's decision removes a huge overhang on EKO's share price.

And if you look at TA, you'd realise the buying with vols only started today. 2.1b shares O/S (not sure what free float is). Not easy to just limit up.

Market is still cautious as well. If the hero in the US opens his mouth again, another red day could happen.

Some say EKO is a GE stock. Most GE stocks taking a breather. Not sure if these stocks will move up or down once Parliament is dissolved.

Are the insti fellas willing to take a new position now? Just before GE? While the market is crazy? The next fews days will answer these questions.

This is a quick trade in my books.

Looks like something is not right. Perhaps can't come to an agreement on EDL terms.

Patience is the name of the game.

OTHERS TERMINATION OF THE CONCESSION FOR EASTERN DISPERSAL LINK ("EDL") HIGHWAY
MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description TERMINATION OF THE CONCESSION FOR EASTERN DISPERSAL LINK ("EDL") HIGHWAY
We refer to our announcement dated 27 October 2017 in relation to the above matter.

We have today received a letter dated 22 December 2017 from the Ministry of Works, on behalf of the Government, inviting us to commence negotiation on the terms of the mutual termination agreement of the concession for the EDL highway.

MRCB will make the necessary announcement once the terms of the mutual termination have been finalised.

Perhaps KLSE has turned cautious due to China down by >2%.

I was comparing estimates. Seems like 3Q results beat most estimates except CIMB's. I hope I was looking at it correctly.

Based on the results, do you think we should expect to see upgrades tomorrow from the sell side guys?

Adventa is not confirmed, all speculation. Don't just read headlines and post here to mislead others. Read the whole article.

The article also says Supermax could be the target.

At this point, everything is mere speculation.

From a charting perspective, WCT is poised to turn after a 5-month downtrend. It needs to break the 1.80 levels with conviction.

Like I said, gotta learn to see beyond the numbers and put 2 and 2 together.

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Posted by bizzybone > Aug 16, 2017 09:53 AM |

Not one to say I told you so, but in this case I am. Not everything in the investing world is about fundamentals. Yes, its important but not everything.

Gotta learn to put 2 and 2 together, as per my post below.

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Posted by bizzybone > Aug 3, 2017 05:25 PM | Report Abuse X

@ gushan, yes the risks are there. Will there be a sell down post ex? Yes. This is probably a given.

But this is not just a special div play. The Company as a whole is remodeling itself, akin to a restructuring.

What will be left of the Company? It has been stated clearly in the Circular that it would very well end up being a PN17 company. As with all PN17 companies, they have a 12-month period to submit a regularisation plan. Bear in mind that not all PN17 companies are bad.

The Board has stated that it intends to maintain the listing status. Why maintain it if there are no plans in place already?

As mentioned earlier (verbatim from Circular):
"However, as announced on 24 May 2017 and 29 May 2017, the Company together with its major shareholder Catcha Group Pte Ltd are exploring opportunities related to internet cities across the Asia region."

Rev will be a nice clean "shell" with no legacy issues to take on a new role together with Catcha Group.

I don't usually say much on this forum. But I'm laying out the facts. I'm not saying buy blindly, but make an informed decision.

Not one to say I told you so, but in this case I am. Not everything in the investing world is about fundamentals. Yes, its important but not everything.

Gotta learn to put 2 and 2 together, as per my post below.

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Posted by bizzybone > Aug 3, 2017 05:25 PM | Report Abuse X

@ gushan, yes the risks are there. Will there be a sell down post ex? Yes. This is probably a given.

But this is not just a special div play. The Company as a whole is remodeling itself, akin to a restructuring.

What will be left of the Company? It has been stated clearly in the Circular that it would very well end up being a PN17 company. As with all PN17 companies, they have a 12-month period to submit a regularisation plan. Bear in mind that not all PN17 companies are bad.

The Board has stated that it intends to maintain the listing status. Why maintain it if there are no plans in place already?

As mentioned earlier (verbatim from Circular):
"However, as announced on 24 May 2017 and 29 May 2017, the Company together with its major shareholder Catcha Group Pte Ltd are exploring opportunities related to internet cities across the Asia region."

Rev will be a nice clean "shell" with no legacy issues to take on a new role together with Catcha Group.

I don't usually say much on this forum. But I'm laying out the facts. I'm not saying buy blindly, but make an informed decision.

@ gushan, yes the risks are there. Will there be a sell down post ex? Yes. This is probably a given.

But this is not just a special div play. The Company as a whole is remodeling itself, akin to a restructuring.

What will be left of the Company? It has been stated clearly in the Circular that it would very well end up being a PN17 company. As with all PN17 companies, they have a 12-month period to submit a regularisation plan. Bear in mind that not all PN17 companies are bad.

The Board has stated that it intends to maintain the listing status. Why maintain it if there are no plans in place already?

As mentioned earlier (verbatim from Circular):
"However, as announced on 24 May 2017 and 29 May 2017, the Company together with its major shareholder Catcha Group Pte Ltd are exploring opportunities related to internet cities across the Asia region."

Rev will be a nice clean "shell" with no legacy issues to take on a new role together with Catcha Group.

I don't usually say much on this forum. But I'm laying out the facts. I'm not saying buy blindly, but make an informed decision.

Don't be surprised if it gaps up tomorrow.

Opportunity to buy. Day traders taking profit.

@Leslie max probably for today. Can't go higher than 1.03 anyway.

Who knows.

CI Holdings comes to mind. It was a shell company after selling Permanis to Asahi. Share price continued to trend upwards even after the div distribution following the sale.

In REV's Circular, it also states that the Board intends to maintain the listing status of Rev Asia. Why would you maintain a listing status of a shell company? Unless you already have a plan for it. These are the sort of conjecture one need to have to make money. Rev is no longer something that can be judged on pure accounting alone.

Fundamentals alone don't move stocks. That is a fact!

From REV's Circular:

"However, as announced on 24 May 2017 and 20 May 2017, the Company together with its major shareholder Catcha Group Pte Ltd are exploring opportunities related to internet cities across the Asia region."

Obviously there will be a selldown after the divs, but newsflow will keep this stock afloat i.e. expectations of potential collaborations with the Catcha Group.

Patience is the name of the game.

Armada and Senergy are clients of Nam Cheong. I'm not too familiar with NC - any idea how NC defaulting on its creditors and restructuring would have an impact on Armada?

It does appear that the market expects Armada to be affected by this.

@niki, baffling indeed.

I reckon the sentiment surrounding O&G is akin to the boy who cried wolf. Regardless of how well oil price fares or what experts say, one could surmise O&G to be a sunset industry. A slow and painful death. Hardly anyone believes any talk of a recovery.

@niki, your thoughts?

I hope you're right Lukesharewalker. May the force be with you.

A stock can be oversold and remain oversold for a protracted period of time. Just saying. I hope I'm wrong.

A few strong supporters of this stock are no longer commenting here. I wonder why. Especially the ones who have been providing rather specific info on the Company. Perhaps they know something we don't?

Two possible scenarios. 1) Artificially pushed down. 2) Imminent bad news and insiders are/have been selling. I hope its 1) but I think its 2).

Isn't Kerjaya a construction company? Potential beneficiary of construction projects from STP2?

Call warrants can't be converted to shares. CWs are issued by market makers i.e. banks/security firms.

How do you guys invest when you don't even know what you're buying?

Haha. Yeah, those are the ones we really want.

Anyway, hope it moves next week.

Waiting for DSONIC is like going to KTV. You can see, touch, maybe squeeze...get you all up and ready, but can't really hit home run.

The CEO is a well-connected, smart and driven man. And what many don't know is he used to be a stockbroker too. A long long time ago. So go figure :)

@armadatuah2017 Didn't even refer to myself. Many here called a buy as well. Don't be too hard on yourself k.

Those who were smart enough to have seen the opportunity, and the balls to get in, good on you.

Many here have a crystal ball with specific TP. I wonder what they're doing here, wasting time and energy when they have such foresight. Amazeballs.

@armadatuah2017 A few things:

1) Companies have 2 months from the end of the last Q to announce results. You probably already know this; so as long as it is on or before the last day of that 2 months timeframe, they're in compliance. Armada announced its 4Q results on the last working day in Feb 15 and 16 as well. Nothing to do with bullish or bearish trends as you seem to allude to.

2) If you understand accounting, which I'm sure you do...then you'd understand the need for impairments.

3) As I've said earlier, it could have been a kitchen sinking exercise, ie get all the bad news out in the 4Q results.

All commodities have cycles. Oil peaked in early 2014 and may have hit the trough in early 2016. It has since recovered and while it may never hit the highs of >$100/bbl, I believe the worst is behind us.

You sound rather emotional. Perhaps you bought at a high, when many of us here have been waiting patiently for the QR.

Agreed. Time to lap it up tomorrow.
Keep in mind that the QR are historical numbers.

Looks like kitchen sinking to me.

Agreed @huhuhu1. Just pointing it out, should there be any price weakness early on.

Even if potential is there from the lens biz, it will not accrue to bottomline in 2017. Certain research houses have already downgraded Supermax following its results on Friday.