Again testing resistance and can it break the resistance. So many time already test.

perghh mcm dataprep

let see can it break resistance.

New Covid variant 'Arcturus' dominant behind surge in India — reports

https://www.theedgemarkets.com/node/663185

Pang yesterday i told you be careful. I really hope Bursa can approved the second extension which normally not easy to get.

This one will easyly shoot up as glove counter hot now and healthcare index still have room to go up further

It is weird that they need 2nd extension. It is now turn to very risky play. We don't know behind the scenes what happen and why suddenly they unable to provide regulation plan as per told and shared many times by Tony himself. I agree with you joyvest. This 2nd extension request put the investor in a very risky ground.

Habis berapa ramai yang sangkut dekat atas

AAX wants more time to submit regularisation plan
https://www.theedgemarkets.com/node/663148

not sure la. every time hit resistance it will pull back. Adeh.

Among the glove and healthcare counter which not fully go up.

Hibiscus Petroleum taking on mammoth task

https://www.msn.com/en-my/news/other/hibiscus-petroleum-taking-on-mammoth-task/ar-AA19IbJQ?ocid=msedgntp&cvid=292f0e04cbfa4458842c9970f07e3f1b&ei=50

hehe that is the cover up strategy. The Edge article during weekend actually disturbs their strategy. In order to contain it they not pushing the price on Monday to just show that there is no knee jerk reaction to the share price due to weekend released article and released counter report at the Edge Monday afternoon to deny the rumors. In my opinion this is a plan to give opportunity to newly appointed board member a chance to collect slowly and when the time come they will released the news. Many company has done that before,

i think SAP supporters already now asking government intervention ASAP as they circulating video on tik tok and Your Tube. Anwar need to be very careful on this as SAP hold many bumi contractor, Bumi employee and some people will start using this as political weapon as state election in 5 states are very near soon. With declining Malay support towards PH, PMX need to tackle this issue wisely.

hoot9e996 standard la the process take time ma. They also want to collect ma.
See simple answer from the board : -
“The board reiterates that it is cognisant of the need for proper dissemination of information to the public and will continue to release the appropriate announcements on Bursa Securities on a timely basis as required by the Main Market Listing Requirements of the Bursa Securities,” Reach Energy said.

Market a bit boring as many are waiting for Wednesday onward i think on US data. Next week last play for IB or Investor before Raya long leave. Just my opinion.

Tesla continuous expansion require their supplier especially EV batteries and component company to gear up their expansion also to support more and more order from Tesla.

Tesla to open a new Megafactory in Shanghai, China, company says

https://www.cnbc.com/2023/04/09/tesla-to-open-a-new-megafactory-in-shanghai-china-company-says.html

TheContrarian yes you are right. Let us wait for tomorrow. Anything can happen.

JuliusCeasar i can't copy the link as im using the digital version of the Edge Weekly. They don't allow copy even on the page itself. If i copy and paste the link you might have problem to view it as you need to have access to the Edge Weekly version. If anyone figure out how to share the link here maybe can help on that matter. Tq.

LeoLeo, Yeah my english is very bad. So what ? You got problem meh ? The figure is based on the assumption that the concession, which was valued at close to USD300 Million in 2016. But now already 2023 and the oil price at USD 80 - 86 per barrel. I also don`t know how high the value after 7 years with current high oil price environment. But surely it will be more than 20 sen for the Hk guy not to lose out.

From the Edge Weekly :

Pelikan said to be on the verge of major asset sale

According to several sources, the major asset disposal that Pelikan is working on could fetch more than RM 500 million cash.

If the deal is successful, Pelikan will exit its core stationary business, which is the 180-year old Pelikan brand from Germany. It will become a cash rich listed shell,sources say.

That is why Super Racer Ltd (SRL) willing to take up 1.03 billion new shares at an issue price of 20 sen apiece as they know there is an interested buyer already for the kazakstan asset and upon completion of the asset sale, they can generate cash value more than 75 sen per share.

The above statement by the sources is based on the assumption, that the concession, which was valued at close to USD300 Million in 2016. But now already 2023 and the oil price at USD 80 - 86 per barrel. You can now imagined the asset value in 2023.

From the Edge Weekly :

According to sources, the company has since recapitalized following the conversion of the debt owning to MIEH via the issuance of new shares.

"Reach Energy slipped into PN17 status based on the unaudited results for the period ended December 2022. The debt-to-equity exercise was only completed in March this year," says a source.

If the sale of the Emir-Oil concession materialises, Reach Energy will be a cash company with no assets. However, the amount of cash in the company from the sale of the Kazakstan asset will be far from the 75 sen per share that early investors paid when it was listed as a SPAC.

From the Edge Weekly :

" Moreover, the current controlling shareholders of the concession, who also control Reach Energy, want to exit the exploration and production of the O & G business. They used to own and operate the oilfield until Reach Energy`s previous shareholders acquired a 60 % stake in the concession in 2016."

From the The Edge Weekly :

Sources say several suitors are keen to explore the prospect of taking over the concession, which was valued at close to USD300 Million in 2016. The concession, called the Emir-Oil LLP,spans six oilfields in an area of 847 sq kilometers.

" The suitors are keen on the asset and aware that more money had to be ploughed in to enhance production. But they feel that oil price will be able to sustain at above USD 70 per barrel and the Reach Energy concession has a low production cost,"
Says a source.

Ok i already read the digital version of The Edge Weekly and the title is " Reach Energy to dispose of Kazakhstan oilfield "

I decided to buy this counter on Monday. Thank you highlighting this earlier.

oh ok thank you birkincollector for the info.

I also think they need to find other producing well so that earning and profit can be improve from time to time.

oh where you found that reading material birkincollector ? mind to share here the link.

THE DOWNFALL OF MALAYSIA'S LARGEST PRIVATE COMPANY

Once valued at $6 billion USD, Malaysian oil and gas company Sapura Energy has experienced a stunning downfall, with declining oil prices, falling demand, and a large debt burden leading to net losses since 2014.

Narrated by Tom Mckay
Video Edited by iyanbriandi

https://www.youtube.com/watch?v=mjLGyAz7nBE

interesting to see how they going to push this counter.

Like it or not in order to stay in power, Anwar or PH need UMNO and Zahid in order to bring Malay vote to support his government. Anwar know, other than PH supporters, PH unable to bring Malay vote in support of PH and that is why he need UMNO and his captain i.e Zahid in order to survive as UMNO can also bring significant Malay vote to the current government to ensure it is not collapse.

This came after the listing of 1.03 billion shares in Reach Energy slated for SRL at 20 sen apiece, as part of the company’s debt settlement exercise to settle RM206.51 million or 76% of the debt it owes to SRL.

In a statement, Reach Energy noted that it completed the exemption of SRL and Cheung Siu Fai — SRL's sole director and owner — from their obligation to undertake a mandatory takeover offer for the company’s remaining shares.

“The completion of the proposed debt settlement also marked SRL’s entry into a shareholder loan facility agreement to make available a shareholder loan facility of up to US$5 million or RM22.87 million to the company,” it said, adding that 89.07% or RM20.37 million will be used for working capital.

emm interesting

Citaglobal and Genetec form JV to manufacture battery energy storage systems

https://www.theedgemarkets.com/node/662472

Look like a few days price stable and now start the reversal.

The two companies will form a JV company, Energy Absolute Malaysia, who will make business investments with CFM Malaysia. The joint investments will be driven by new teams from both nations to integrate clean energy and mobility solutions to help corporations decarbonise effectively. Datuk Justin Lim further added that CFM and EA plan to produce Lithium-Ion batteries and investing in Energy Storage Systems (ESS) and charging stations to support Malaysia’s EV ecosystem.

lama betul consolidation

Banks in trouble, Airlines and Gloves rebound (This Week In Bursa #1)

https://www.youtube.com/watch?v=BJZXtIGvPhI&t=13s

Anwar Visits China, Mr DIY dumps, Top Glove On Fire (This Week In Bursa #2)

https://www.youtube.com/watch?v=RBR78p-ZJzM

After COVID-19, Time for the World to Brace for Deadly Marburg Virus? | Vantage with Palki Sharma

https://www.youtube.com/watch?v=5b5kvI7eFh4

World Dumps US Dollar: Malaysia Proposes “Asian Monetary Fund” | Vantage with Palki Sharma

https://www.youtube.com/watch?v=4lR8fCenE2A

waaaaa

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

Malaysia, China to discuss ‘Asian Fund’ to cut dollar dependency

As i told you before. The real reason for oil cut is to cut dollar dependency. Now Malaysia also joining the pack of cutting US dollar dependency.

https://www.youtube.com/watch?v=FMG-6sEzjFM

OPEC+ Is Winning The Economic War - Checkmate For The West

Saudi+Russia+China trying to push the oil price in order to ensure inflation are always on the high note and this will force US FED to maintain or higher the interest rate hike. This will also force many country to think again on hold USD. They will start talking about de-dollarization as dollar is very strong due to interest rate hike and other currency is weaker. So many country will start think about de-dollarization.

kesian aku tgk ko ni OKU. Hari-hari menanti. Penantian itu satu penyiksaan. huhuhu.

Tesla reports 422,875 deliveries for first quarter of 2023

The first quarter numbers represent a 36% increase in deliveries compared to the 310,048 reported during the same period a year earlier, and 4% growth in deliveries sequentially compared to the 405,278 they company reported in the last quarter of 2022.

https://www.cnbc.com/2023/04/02/tesla-tsla-q1-2023-vehicle-delivery-and-production-numbers.html

Malaysia secures RM170bil investments from China through 19 MOUs

https://www.thestar.com.my/news/nation/2023/04/01/m039sia-secures-investments-worth-rm170bil-from-china-through-19-mous

BEIJING: Malaysia has clinched a record RM170bil worth of investments from China with 19 memorandums of understanding signed on Saturday (April 1), says Datuk Seri Anwar Ibrahim.

The Prime Minister made the announcement at the close of the Malaysia-China Business Summit in Beijing.

He said among the highlights would be the development of an high-technology automotive valley in Tanjung Malim focusing on new energy vehicles.

Anwar said these deals are a huge boost to the Malaysia-China economic relationship.

He held a session earlier with about 50 Chinese captains of industry where he pitched Malaysia's advantages.

Anwar's maiden visit to China as Prime Minister was backed by a 200-member trade delegation from Malaysia.

They all waiting for EPF money ma. They will to throw anwar government for EPF. For Malay that is their money and they need it now. Whatever government said nothing will satisfy them. PN are cleaver taking that as their advantage.