Problem is trusting that P guy with the cash

Balance of Cash from Rights Issue is 75.735M. NOSH is 1403 M. So Cash per share is 0.054

Selangor Turf club relocation is on. Federal court judgement

Buy & Convert

Total issue is RM320M. Till date the company had only buy can convert RM18m. He doesn't need to buy the Bond in 1 tranche. Can buy when he wants to convert

Annoucement Date Listing Date Type of Issue No of Shares Issue Price Value of Bond Converted

17-Nov-23 20-Nov-23 Conversion of R Bonds 33,088,235 0.136 4,499,999.90
7-Nov-23 8-Nov-23 29411764 0.136 3,999,999.40
19-Oct-23 20-Oct-23 16,383,112 0.159 2,604,914.80
11-Oct-23 12-Oct-23 17,643,352 0.159 2805292.90

20-Sep-23 21-Sep-23 8,998,200 0.167 1502699.40

8-Sep-23 11-Sep-23 2,953,337 0.169 499113.95

4-Sep-23 5-Sep-23 8,860,011 0.169 1497341.80

29-Aug-23 30-Aug-23 5,858,230 0.171 1001757.30

Total 123,196,241 $18,411,119.45

Total Issue is RM320 million. Issued so far is RM18.4m. Average price of issue is $0.1494

Recent Series of Reneuco’s Convertible Bond Conversion
17-Nov-2023 20-Nov-2023 Others 33,088,235 0.136
07-Nov-2023 08-Nov-2023 Others 29,411,764 0.136
19-Oct-2023 20-Oct-2023 Others 16,383,112 0.159
11-Oct-2023 12-Oct-2023 Others 17,643,352 0.159
20-Sep-2023 21-Sep-2023 Others 8,998,200 0.167
08-Sep-2023 11-Sep-2023 Others 2,953,337 0.169
04-Sep-2023 05-Sep-2023 Others 8,860,011 0.169
29-Aug-2023 30-Aug-2023 Others 5,858,230 0.171
Note that the Total Convertible Bonds issued is bigger than the no of issued shares.
Minimum Conversion Price is 10 cents
Can afford to spend some “recycling expenditure”

17-Nov-2023 20-Nov-2023 Others 33,088,235 0.136
07-Nov-2023 08-Nov-2023 Others 29,411,764 0.136
19-Oct-2023 20-Oct-2023 Others 16,383,112 0.159
11-Oct-2023 12-Oct-2023 Others 17,643,352 0.159
20-Sep-2023 21-Sep-2023 Others 8,998,200 0.167
08-Sep-2023 11-Sep-2023 Others 2,953,337 0.169
04-Sep-2023 05-Sep-2023 Others 8,860,011 0.169
29-Aug-2023 30-Aug-2023 Others 5,858,230 0.171

List of recent conversion of convertable bonds. So steep the drop in conversion price. Trying fast to catch ignorant punters

Renueco Redeemable Convertable Bonds - RCB
Salient Point: Issue Size of RM350m. Minimum Issue Price of Shares is RM0.10 - Can be converted at 10 cents. Still got 75% profit margin

Renueco Redeemable Convertable Bonds - RCB
Salient Point: Issue Size of RM350m. Minimum Issue Price of Shares is RM0.10 Max Issue is 1,143,093,554 (Double current NOSH)
Coupon is 2% PA paid semi annual
SC, Bursa and Management conspire to cheat small shareholders. Luckily I got loss at 1 go when price was 19 cents. Should just cut and let those cheats hold the convertable bonds forever

EPF resurfaces as Kossan’s substantial shareholder
Will buy Top Glove after the price goes above RM1.00 Mandate cannot buy penny stocks

Top Glove used to use Numero Uno in terms of Market Cap. Was challenging Maybank as the Top Mkt Cap Stock in Bursa. Look at the market cap now.
1.Harta - 8123m; Top Glove 6484m, Kossan 4041m and Supermax is 2462m

Glove also got expiry date lah. Old stock need to throw. Buy new

If Harta can turn in a profit, TG with no hedging in USD will do much better

For glove companies, >90% of their revenue is denominated in US$. However, the impact on glove makers varies according to the magnitude of their hedging arrangements. Based on our estimates, for every 10% weakening of MYR against US$, the impact on core earnings will be 0.5%-1.0% for Hartalega, 1.3%-1.5% for Kossan, and 11%-13% for Top Glove, which does not hedge its export sales.

Account don't allow buy. Zero value

Money droping from SKY. Thanks to doomsday man

ESOS at $0.11. How not to die

Name Details of Changes
Date Type No. of Shares Price
MR SOW EWE LEE 11-Oct-2023 Others 6,500,000 0.110

Tony F from Royal Circus?

Nonsense. 350m to be issue in 4 tranche but each tranche got unlimited sub tranche. Price of new share to be issue is 80% of previous 3 market days closing price. They convert bit by bit and sell also we die. Minimum price that can be issued is $0.10. You look at the conversion price for the tranches so far. Going lower and lower

How not to die.

Renueco Redeemable Convertable Bonds - RCB
Salient Point: Issue Size of RM350m. Minimum Issue Price of Shares is RM0.10 Max Issue is 1,143,093,554 (Double current NOSH)
Coupon is 2% PA paid semi annual

Annoucement
Date Listing Date Type of Issue No of Shares Issue Price Value of Bond Converted
11-Oct-23 12-Oct-23 Conversion of Redeemable
Convertible Bonds 17,643,352 0.159 $2,805,292.90
20-Sep-23 21-Sep-23 Conversion of Redeemable
Convertible Bonds 8,998,200 0.167 $1,502,699.40

8-Sep-23 11-Sep-23 Conversion of Redeemable
Convertible Bonds 2,953,337 0.169 $499,113.95

4-Sep-23 5-Sep-23 Conversion of Redeemable
Convertible Bonds 8,860,011 0.169 $1,497,341.80

29-Aug-23 30-Aug-23 Conversion of Redeemable
Convertible Bonds 5,858,230 0.171 $1,001,757.30

44,313,130 $7,306,205.35
Percentage of NOSH = 6.913% Percentage of Mkt Cap = 5.845%

Each Sub-Tranche is supposed to be min of Rm2,000,000.00. Not Followed?

Conversion anytime at 80% of 5 Previous day average price. Minimum conversion price $0.10
2% coupon on RCB paid semi-annual. Total RCB to be issued is RM350 million

Looks like on tract for privatisation. Then can proceed with whatever deal

MALAYSIAN CHINESE ASSOCIATION 27-Sep-2023 Acquired 294,600 0.000
MALAYSIAN CHINESE ASSOCIATION 25-Sep-2023 Acquired 300,000 0.000
MALAYSIAN CHINESE ASSOCIATION 22-Sep-2023 Acquired 836,100 0.000
MALAYSIAN CHINESE ASSOCIATION 18-Sep-2023 Acquired 249,200 0.000
MALAYSIAN CHINESE ASSOCIATION 15-Sep-2023 Acquired 475,800 0.000
MALAYSIAN CHINESE ASSOCIATION 01-Sep-2023 Acquired 1,000,000 0.000

Acquisitions by MCA in Sept 2023
MALAYSIAN CHINESE ASSOCIATION 22-Sep-2023 Acquired 836,100 0.000
MALAYSIAN CHINESE ASSOCIATION 18-Sep-2023 Acquired 249,200 0.000
MALAYSIAN CHINESE ASSOCIATION 15-Sep-2023 Acquired 475,800 0.000
MALAYSIAN CHINESE ASSOCIATION 01-Sep-2023 Acquired 1,000,000 0.000

Very little free float left. Easy to manipulate. MCA owns about 50%. Tong through his companies own more than 5%. PNB owns about 5%. Likely to be privatised by MCA

PNB also holds 37,500,000 shares. Why this magic figure of 37,500,000 shares

MCA is 45+%. Tong is 5+%. Am sure there are other significant shareholders for this cash rich company. Not much free float left

MCA Shareholdings
Direct (units)
313,315,760
Direct (%)
43.23
Indirect (units)
16,625,300
Indirect (%)
2.29
Total (units)
329,941,060
Total (%)
45.52

Disposals by Tong
TONG KOOI ONG 28-Aug-2023 Disposed 379,200
TONG KOOI ONG 24-Aug-2023 Disposed 10,000

TONG KOOI ONG 18-Apr-2023 Notice of Interest 39,339,200
ICHC ANSTALT 18-Apr-2023 Notice of Interest 37,500,000
PHILEO GROUP LIMITED 18-Apr-2023 Notice of Interest 37,500,000
THE EDGE COMMUNICATIONS SDN BHD 18-Apr-2023 Notice of Interest 37,500,000
THE EDGE MEDIA GROUP PTE LTD 18-Apr-2023 Notice of Interest 37,500,000

Some panic for no reason. Tong holds the Star Media shares using 5 entities.
4 of this own 37,500,000 shares each and his personal name holds 39,339,200 shares.
Probably need to streamline the holdings for more aquisitions.

Touch 50 cents straight cirit birit. Why?

This counter IPO is above $1. Making $ counter but price near all time low. Some others have move up by 300%

So clear it is intraday short selling by PDT. Scramble to cover back at close

I known of one slot club link to them at Bdr Baru Air Itam Farlim Penang. Located at ex Alliance Bank Premise. Use which company to operate, saya tak tahu

Meanwhile, Star maintained a solid balance sheet with a robust net cash position of RM366.4mn or 50.6sen/share (-0.6% QoQ, +5.9% YoY) and zero borrowings.
Based on Share Price of $0.41 the market cap is only $303 m

Star main revenue is Property. Value as property counter

Letter submited by UOB Kay Hin today

As if so difficult to write. Chat GPT can even write a very professional business plan. Just probe it stage by stage. They purposely wait for last day for the Doomsday man to sow panic and sell cheap

Awantec was also issued a show-cause notice by Bursa, where it is required to provide written representations within five market days from Wednesday to explain why its securities should not be suspended from trading and delisted. ie 23 Aug 2023. Last Day. Those see no hope got last chance to sell

NO BUSINESS IS BETTER THAN DOING LOSING BUSINESS

So many financially distressed penny stocks not delisted but SC and Bursa approved rights issue to burn cash again

NEITHER AWANTEC NOR NYLEX IS FINACIALLY DISTRESSED

an adequate level of business to continue as listed entities.

In this respect, the boards have the fiduciary duty to cast their net wide to help the companies get a core business to fulfil Bursa’s requirement. If they are unable to get a core business, the losers will be the minorities. And the boards should be brought to task.

The regulators should protect the minorities. But by delisting the companies, they are doing just the reverse.

Awantec has been without a core business to sustain its operations since December 2020 after Microsoft terminated its membership of the partner network. This was a second setback for Awantec, previously known as Prestariang Bhd.

In December 2019, the Pakatan Harapan government terminated the company’s 15-year concession to design and maintain a new immigration border system. Awantec is seeking compensation of up to RM922 million for the termination. The suit is still pending.

Also, Awantec, through its subsidiary Prestariang Sdn Bhd, is one of the three companies with the mandate to manage the migration of government data to the cloud.

As for Nylex, it has been without a core business since January last year after it disposed of its assets and liabilities to Ancom Bhd in a merger exercise. Nylex is an empty shell without any core business at the moment.

Nevertheless, it is supposed to be the vehicle for a proposed light rail transit (LRT) system to be built in Johor.

Neither Awantec nor Nylex is financially distressed. The issue at hand is that the companies do not have

This article first appeared in The Edge Malaysia Weekly on August 21, 2023 - August 27, 2023

When a company is taken off Bursa Malaysia because it has an inadequate level of business to justify its listing, the affected parties are the minority shareholders. They are forced into a position of disadvantage because an unlisted entity does not come under the oversight of a body such as Bursa or the Securities Commission Malaysia (SC).

For example, the minorities of Nylex (Malaysia) Bhd and Awanbiru Technology Bhd (Awantec) saw 50% of the paper wealth of their investments in these companies wiped out last week. This was after Bursa rejected the appeals of the companies for an extension of time to submit a regularisation plan to get a core business.