and u have to consider the new share issued to shareholders of scomi eng and scomies

u have to include the warrant in your profit or loss calculation..

Ganii


ORIGINAL COST :RM100,000
ASSUME / REFER PRICE : RM0.115
QUANTITY HELD (bought with Rm100K) : 869,565

NEW SHARE : 434,783
free WARRANT : 304,348
TOTAL SHARE+ WARRANT : 739,130

AT PRICE OF NEW SHARE : 0.115
VALUE POST CONSOL : 85,000 (LOSS 15%)

appproval required

1. a majority in number of the Scheme Shareholders AND 75% in value of the total Scheme Shares present - (majority of Scheme Shareholders OF 34% of shares not held by SGB have to AGREE)

2. provided, less than 10% from 34% of shares not held by SGB vote AGAINTS
10% X 34% = WE NEED ONLY 3.4% TO VOTE AGAINTS

so seems that it is not so easy to get approval, this consolidation might not get approval

2.3.1 Proposed Merger of Scomi Energy
The Proposed Merger of Scomi Energy shall involve the acquisition by Scomi and the transfer of all the ordinary shares in Scomi Energy not already owned by Scomi (“Scomi Energy Scheme Shares”) from all the shareholders of Scomi Energy other than Scomi (“Scomi Energy Scheme Shareholders”). The Scomi Energy Scheme Shares shall include the shares in Scomi Energy held by the persons acting in concert with Scomi (“PACs”).

if more than 10% shareholder vote againts then the motion will fail

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=81559&name=EA_GA_ATTACHMENTS




APPROVAL REQUIRED

approval of the Scheme Shareholders of the Proposed Mergers by way of a poll by at least a majority in number of the Scheme Shareholders and 75% in value of the total Scheme Shares present and voting either in person or by proxy at the court convened meetings of Scomi Energy and Scomi Engineering to be convened for the purpose of the Proposed Mergers (“Court Convened Meetings”), provided that the number of votes cast against the resolution to approve the Proposed Mergers at the Court Convened Meetings are not more than 10% of the votes attaching to all the Scheme Shares held by the non-interested Scheme Shareholders;

cateris paribus at price of 0.12 old scomi or post newco = buyer will lose 15%

What is the purpose of star biz journalist using wrong calculation to potray the benefit of consolidation?
On saturday they say buyback
On monday the say share swap
Back up with wrong calculation tt could mislead investor

What is yr reference that octanex fail?
The rig alr3ady complete
Now going for drilling phases

Jaja7777
Dont believe everything u read in newspaper
I.e on saturday about share buyback.. on monday shareswap
But everything was planned to supressed share price so that will be cheap for them to buyback
Who feeds info to newspaper.?

Scomies will not sell their vessel
The vessels are not under financing or leasing
The gearing of scomies is low
When income from ophir come.. the % can easily cover the min loss easily.. the huge loss shown in the last qr is huge impairment of asset (vessels) this just to make thing look bad..
When scomies expecting income from ophir they wil buy back the share

When ophir well operating.. must be scomies also supplying chemical for drilling and waste, and opportunity for vessel will be utilized

If u buy at price higher than .115 u lose even more

i hope this deal will not go through

Boonming Based on rough calculation...

20 Scomi Group is = 2.20sen at cost which is also =
10 new shares +
7 FREE warrants (@11.3sen 78sen)

So our net cost will be 1.42 or diverse by 20 = 7.1sen per share today.

Which is 4.5sen cheaper to current closing price of 11.5sen!!!
22/08/2017 14:24

http://www.thestar.com.my/business/business-news/2017/08/22/scomi-group-shareholders-to-benefit-from-merger/

_____


This is a flaw calculation

u should not include the free warrant with no. of share holding now and calculate average cost

u should only include the free warrant with the reduced new no of share and calculate average cost for u


based on price 0.115 once consolidated.. sgb shareholder lost 15% automatically

breakeven only if the price of new share at 0.14

http://www.klsescreener.com/v2/news/view/271291

based on this star news, the term is in favor of SGB while at at the expense of SESB & SEB
at what reflected in market

confusing is,, how come this newspaper giving different facts with regards to this consolidation in short period of time.. on saturday news and monday

DEM

jaja7777
scomies doing ok, the last qr huge loss was due to huge amt of asset impairment (one off),
specifically referred to idle osv vessel based on frs11(recoverable vs pojected cf). just because the mkt value of osv drop due to slow down in oil gas mkt they decide to write off its value, while the osv itself doing fine with min maintenance and without any leasing or financing commitment. when the market is ok would they write back the value? all was done to supress the share price .. buyback the share for the good of sgb

Updates from scomies AGM

1.bod of scomies have not receive any proposal from SGB regarding consolidation, BOD refuse to comment further regarding the matter. Thus trading as usual tomorrow
2. Marine business in indonesia in good shape with around 79% utilization rate
3. First flow of oil from ophir is expected to be in end sept.
The result would depend on rate of oil flow from the rig.
Scomies expects to receive around 130mil usd profit from ophir in 3 years.
4. If u notice from financial statement the gp and cash flow pf scomies are +, the only culprit is one off impairment of assets i.e 4 osv vessel that remain idle out of 5. Positive thing is that these vessel are not under financing or leasing but wholly owned
5. Chemical / oil gas business business activity -the industry now moving into/ focusing on land rigs over open sea rigs. With regard of griwing shale oil rigs from US. Scomies planning to enter the US market in the near term.
6. Scomies itself, irrelevant of Sgb or seb. With low gearing, positive operating cash flow, positive gross profit. There is no going concern issue. Scomies can go through this slow time of ong business.

On saturday they say about share buy back = 20% premium
on monday statement they say about share swap

so the news is conflicting if u compare the monday statement with saturday biznews of Star..
we could say tt the have not finalized yet
trading will resume on 2.30pm

Just download the announcement

We dont have the info.. only they know

Updates from AGM

1.bod of scomies have not receive any proposal from SGB regarding consolidation, BOD refuse to comment further regarding the matter. Thus trading as usual tomorrow
2. Marine business in indonesia in good shape with around 79% utilization rate
3. First flow of oil from ophir is expected to be in end sept.
The result would depend on rate of oil flow from the rig.
Scomies expects to receive around 130mil usd profit from ophir in 3 years.
4. If u notice from financial statement the gp and cash flow pf scomies are +, the only culprit is one off impairment of assets i.e 4 osv vessel that remain idle out of 5. Positive thing is that these vessel are not under financing or leasing but wholly owned
5. Chemical / oil gas business business activity -the industry now moving into/ focusing on land rigs over open sea rigs. With regard of griwing shale oil rigs from US. Scomies planning to enter the US market in the near term.
6. Scomies itself, irrelevant of Sgb or seb. With low gearing, positive operating cash flow, positive gross profit. There is no going concern issue. Scomies can go through this slow time of ong business.

Continue to hold
Accumulate some more at lower price

No fair for scomies shareholders to be offerred the same quantum as scomien shareholders.. management should take into acct nta+future cash flow of scomies.. surely scomies in better state, even scomies will be used to laverage business of scomien

I will surely vote againts
I have 1.3mil units
This kind of resolution need 75% of member agreed?

Thanks

At what "last traded price" will be for 20% premium offer?
Is it the price on thursday 17aug? this counter will continue trading on tuesday 22nd, so at what price will be?
Someone can clarify?

Good for them..
Not good for shareholders of scomies
While we are waiting for cash flow from ophir
They systematically pressing down the price
By write off huge losses in last qr to paint bad news
N continues pressing the price
Just for them to buy back at low price
Fyi the will offer just 20 % premium from last traded price..
That will be around 15 cents + some warrant
At my average of 19 cents that will be huge losses for me

Buy star newspaper today.. quite comprehensive about the consolidation

What is the news?

No lah 0.09
With such good news expecting of ophir 1st oil.. why still got people selling?

buy when others fear, sell when others greed
but no money to top up.. how lorr
pattern of selling like organize selling pressure by operator
just wait for good news from ophirs oil well

http://www.heavyliftnews.com/news/gallery--spt-offshore-installs-wellhead-platform-on-ophir-field

buy more

suddenly active..
what is the news?

GO TO SCOMIES UOLS

saw and trapped many times too :)

*Corporate news:*

*Sumatec Resources Bhd*’s associate Semua Shipping Sdn Bhd has received a legal notice from *Malayan Banking Bhd (Maybank)* for allegedly defaulting on loans totalling RM121.4m. (Financial Daily)


*6th Mar 2017*
Disclaimers: This distribution is by CIMB Investment Bank Berhad in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CIMB makes no recommendation, offer or invitation to transact in any securities, futures contracts or other instrument. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.

let recover our losses at scomies

have a a lot potential in 5 months

new ophir oilfield will start production in Jun/july

http://www.thestar.com.my/business/business-news/2017/01/12/rsc-lease-of-life/

expected production of ophir : 8,000,000 barrel yearly
low cost at 40-45 USD
at price of USD55U per barrel : min gross profit would be USD10 perbarrel , USD80mil

scomies entitle for 30% would be USD24mil yearly or at 4.5 RM108mil

if oil price increase to USD60 perbarrel in mid year scomies would entitle for USD36mil or RM162mil

http://www.thestar.com.my/business/business-news/2017/01/12/rsc-lease-of-life/

expected production of ophir : 8,000,000 barrel yearly
low cost at 40-45 USD
at price of USD55U per barrel : min gross profit would be USD10 perbarrel , USD80mil

scomies entitle for 30% would be USD24mil yearly or at 4.5 RM108mil

if oil price increase to USD60 perbarrel in mid year scomies would entitle for USD36mil or RM162mil

guys go to scomies
a lot of potential
wait till july 2017
;)

Saudi Arabia wants oil prices to rise to $60 in 2017

http://www.aljazeera.com/news/2017/02/saudi-arabia-oil-prices-rise-60-2017-170228113832745.html

correction days ..
may continue on monday.. depend on news

tomorrow maybe will be some correction

Haiyooo .08 100 unit 100unit 100 unit
Bila masa ni mau up
Kasi 50k unit terus lahhh
Aiyooo

DreamMaster Posted by freeman > Jan 26, 2017 02:11 PM | Report Abuse

bila mau pn17 aiyooo
_______________________________________________________________________

Evely qrtr lepot plofit, how to PN17 leihh ... Lu palu blapa hali bulajat main shaham ah ... Pottoh kontuik dikkhead iddiot yuga, lu ini ...
26/01/2017 14:37

Does PN17 requirement say anything about profit?

Pursuant to paragraphs 8.04(2) of the Listing Requirements, where a listed issuer triggers any one or more of the following Prescribed Criteria it must comply with the provisions of paragraph 8.04 and this Practice Note: FAQ 8.17
​ ​ ​
​ ​(a) ​the shareholders' equity of the listed issuer on a consolidated basis is 25% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer and such shareholders' equity is less than RM40 million; FAQ 8.18
​ ​ ​
​ (b) receivers or managers have been appointed over the asset of the listed issuer, its subsidiary or associated company which asset accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis;
​ ​ ​
​ ​(c) a winding up of a listed issuer's subsidiary or associated company which accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis; FAQ 8.19
​ ​ ​
​ (d)​ ​the auditors have expressed an adverse or disclaimer opinion in the listed issuer's latest audited financial statements;
​ ​ ​
​ ​(e) ​the auditors have expressed an emphasis of matter on the listed issuer's ability to continue as a going concern in the listed issuer's latest audited financial statements and the shareholders' equity of the listed issuer on a consolidated basis is 50% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer; or FAQ 8.18, FAQ 8.20
​ ​ ​
​ ​(f) a default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange.
​ ​ ​
​ (g)​ ​[Deleted]
​ ​ ​
​ (h) [Deleted]​


financial statement can show how many profit they want
but is that really supported by positive cashflow?

whatever profit suma shown ,if they have no cash, if they default on loans and claimants successfully claimed that in court then suma will be in pn17


by the way, where they hide about their liability obligations in excess of $172mil?

the number is what u can not simply see in annual report and quarter report

in balance sheet it shown almost zero long term liability

but in reality?

Bravo :)

bila mau pn17 aiyooo

In star paper today

See nakamichi restructuring exercise