What I'm sharing above is what Mitras has been trying to tell us to do. We have to do something on our part as shareholders of PMC. SHAREHOLDER ACTIVISM IS REQUIRED HERE!!!

CALVINTAN, YOU ARE THE MOST SENIOR FORUMMER IN THIS FORUM, AND YOU KNOW THE BOD OF PMCORP. PLEASE PASS YOURS AND OUR MESSAGE OF THE NEED FOR THE BOD TO ACT NOW ON THE PROPOSED RECONSTRUCTION PLAN.

What is lacking is a Catalyst from the Board of Directors in the form of an Announcement that the BOD will proceed with the proposed Capital Reconstruction of PMCORP. And the earlier they do this the better for the company, and consequently for all of us.

There's only 18 days left to Dec. 31. We all know that sales of Tudor Gold, Tango, etc Choco are doing well. Can this be translated into a 4th Quarter Revenue of RM 50M, so that this year's total revenue hit RM100M?
Last quarter's sales was only RM18M, and YTD Sept30 was only RM56M. It seems impossible (the RM100M REVENUE target for THE YEAR 2013). But it could also be possible. If that happens, then, I would expect the price to really move up.

But what better timing it would be if the BOD were to initiate the Cap Recon Now (because it'll take at least 3 months for the whole process to be completed), so that it'll coincide with the good news of the 4th Qtr Revenue!

So, what can we do to get the BOD to wake up and speed up?

For a start, we can bombard MUI N PMCORP web sites with this slogan message:

WE WANT A CAPITAL REDUCTION, ... WE WANT A CASH PAYOUT, ... WE WANT A CAPITAL CONSOLIDATION.

Please feel free to copy and paste the slogan on this forum as well as on MUI N PMCORP web sites' "contact".

And, at the same time, we should appoint Calvintan as our spokesman to the BOD with this message.

mikekong55, inari's price may increase to about 1.80. But the daily chart also indicates a possible downward reversal due to the Bearish Divergence in the MACD LINE N MACD HISTOGRAM vis a vis the price. Also, the ROC of price is in Bearish Divergence with price.

Huangbk72, sorry, correction. It should read, "So, the FBMKLCI INDEX may touch 1832 (ie., 1840 - 7) today."

So, smalltimer, no point to repeat this peace of old news here again.

smalltimer, yr "old news" has been factored into price of MUI long ago.

RE: INTRA DAY FBMKLCI INDEX:
The last 4 days' price action has created a Head n Shoulder chart pattern in the 30 min chart this morning. The depth of the Neck Line is 7 points down from the peak. Base at Neck Line is 1840. So, price may touch 1832 (ie., 1840 - 7) today.

Let's hope it'll re bounce from there.

Mitras, u seem to have a fixation for tandas.

The LONGER a stock remains seriously UNDERVALUED and the LONGER they DONT' RETURN TO NORMAL VALUE, the BETTER it is for the investor

Read more about the above, ... http://myinvestingnotes.blogspot.com/

This is our slogan song:

WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

The proposed Cash Payout is the icing on the cake. Actually, the cash payout is only part of the Capital Reconstruction of the company, which the BOD should initiate by Dec. 31. The word is, "initiate" not pay by Dec.31, because the whole process would take at least 3 months.

The purpose of the proposed Cap Recon is to put the company on a sound financial footing again. And, since PMC's choco sales has been doing well in Spore, Msia, n elsewhere around SEAsia, plus Hong Kong and southern China, the Top and Bottom Lines of PMCORP should and would very much improve going forward into 2014.

Coupled with a clean, no accum loss Balance Sheet (if the Cap Recon is completed in early 2014), the company's stock price should have no reason not to fly!

In addition, the ROC (Price Rate of Change)indicator per the 30mins intra day chart also confirms the recent price increase from Dec 5 till now. The ROC has been trending up since Dec. 5th. and is now above the zero line.

30 mins intra day chart shows a Bullish Divergence in the MACD LINE vis a vis the Price from Dec 4 to Dec 10. MACD LINE was trending upwards from Dec.4 to Dec. 10, and in fact is above the zero line, indicating an uptrend. At the same time period, price was in downtrend, resulting in the Bullish Divergence.

Well said, Kelvin Tsai!

Correction, mikekong55. Our "hope" here and on this stock is based on solid FA, and longer-term outlook.

Meena, I just sent the slogan to "contact" in PMCORP web site.
Cheers!!!

Calvin,
"Actually, Ex CFO Mr. Ho said he will still do his part to get Mr. Bernard the New Acting CFO to Get Directors To Meet Up And Carry Out The Capital Consolidation & Cash Payout Within This Year."

Calvin, it'll be a great Christmas gift if it can be initiated B4 end of year! Thanks.

This is our slogan song:

WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

Calvintan, pls take the lead in starting this campaign for a, ...

WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... C O N S O L!

WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... CONSOL!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... CONSOL!

WE WANT A ... C R,
WE WANT A ... C P, N ...
WE WANT A ... CONSOL!

invest118, I think we can write to the CFO, N SECRETARY TO THE BOARD to urge them not to delay the plan for cap recon as proposed by the previous CFO. The letter should be signed by as many investor of PMCORP as possible. And we can also call on the Malaysian InvestorS NGO to highlight this issue.

Any other ppl got other suggestions? Pls share your views on this.

Hi, Chrollo, the BOD of this company already has a capital reconstruction plan in place proposed by its previous CFO, but not yet announced or implemented. Such a plan, if implemented, will bring out the true value of the share price, which is currently understated. Pls read my enumeration above of how such a capital recon plan will unlock the true value of the stock.
Thanks for coming to this forum.

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

WE WANT A ... C R, C P, N Consol! WE WANT A ... C R, C P, N Consol!

Thanks, Huangbk72. And, as a shareholder of PMCORP shares, I urge (and I urge many, many from this forum will join me in calling on) the Board of Directors of the company not to delay this exercise further. But to convene a meeting of the Board as soon as possible to initiate and start the ball rolling on this exercise, so that the timing would coincide with the good results which will surely come early next year.

WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION! WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION! WE WANT A CAP REDUCTION, CASH PAYOUT, N CONSOLIDATION!

PMCORP - LIKELY EFFECT OF A SHARE CAP REDUCTION AND SHARE CONSOLIDATION EXERCISE AS SHOWN ABOVE:
1. Share price is likely to go up to be in line with the new par value as well as the new value per share per the Share Capital. This value is also the New Net Assets Value Per Share. Also because the NOSO is much reduced.
2. EPS will move up in tendem.
3. The quantum of future dividend payments per share will be at a higher rate.
And if the company's operating revenues and profits are to increase as expected in the coming quarters of the new year 2014, the above exercise will certainly give the added boost to its share price increase!

PMCORP - CAPITAL REDUCTION WITHOUT CORRESPONDING SHARE-CANCELLATION:
Subject to High Court Approval, it may also be possible to have a share capital reduction exercise without a corresponding reduction in the number of shares outstanding. This would be the more logical approach if later or at the same time a share consolidation is involved as the final outcome of the whole exercise.

The previous CFO's plan calls for a par value reduction from 50 sens to 25 sens. A cash payout to reflect the cancellation of 25 sens per share to holders of outstanding shares at time of capital reduction. Followed by a consolidation of par value to RM1.00 by consolidating 4 shares into 1 share.

Let me enumerate the steps, number of shares, and values involved in such an exercise:-

1. Balances, after cancellation of 65M Treasury Shares at cost of RM30.5M (previously bought back in the open market), and writing-off RM40.9M net negative balance per Reserves after writing-off accumulated losses, are:-
(a) NOSO = 708,397,200
(b) Share Capital = RM315,255,000.

2. Reducing par value per share from 50 sens to 25 sens without cancelling shares. Number of shares involved is = 708,397,200/2 = 354,198,600 shares. Total value of shares cancelled = 354,198,600 X 0.25
= RM88,549,650.

3. Balances after (2) above:-
(a) NOSO = 708,397,200
(b) Share Capital = RM 226,705,350.

4. CASH PAYOUT: RM88,549,650/708,397,200 = RM0.125 per share.

5. Consolidation of par value to RM1.00:-
(a) 4 shares consolidate to 1 share. 708,397,200/4 = 177,099,300 outstanding after consolidation.
(b) PER SHARE VALUE AFTER CONSOLIDATION: RM 226,705,350/177,099,300
= RM 1.28

messibarca, if u think "coming soon" is a century to u, so it's a century. So, u wait lah until 1 century b4 u buy, ie if u can last that long. As for me it's coming soon! And it means coming soon.

Cutie, Mui's DER only 1.6 times? At 1.6 times its DER is not good, but not too bad. I thought it would be 3 to 4 X.

i'm sure NFI management would have looked at how they could participate with EPIC.

EPIC was launched in the USA n Malaysia just 2 weeks ago.

Since NFI already has a supplier's relationship with E-CoswaY, it should exploit this further to ride along with Vincent Tan's latest EPIC venture.

I'm

Don't look down on jaguh kampung. Take the case of "Red Bull" drink. It was created/made by a Thai from Thailand, a Thai jaguh kampung. It is now a world famous drink, with US Billion $$$ sales!

Recently, Vincent Tan launched a joint-venture (70% Vincent Tan) with an American (30%) who's very experienced in the MLM industry. They are coming out with a healthy choco drink for reducing cholesterol and shrink body fats soon as one of their first products. The joint venture MLM is called EPIC. E-Cosway members are also involved in this venture.

Since NFI is already supplying Choco to E-Cosway, let's hope that NFI can participate in producing this new choco drink for EPIC.

Re: Clarification on the Quantum of Cash Payout in the event of a par value reduction and consequent cap reduction exercise:-

Say, a 10 sen par value reduction is envisaged for a current 50 sen par value share. The cash payout applies only to the number of share reduced or cancelled. So, if a shareholder has 50,000 of the shares, he would then be re-issued with 40,000 new shares of 40 sens par value, and compensated with RM1,000 only (10,000 shares cancelled @ 10 sens).
And, if the shares are then consolidated to RM1.00 par, his 40,000 shares would be replaced with 16,000 new shares of RM1.00 par value per share.

Tewnama, my vote is for A, ... Calvintan to continue, ...

Tsurukame, using your line of thinking on the Cap Reduction/Cash Payout/Consolidation of shares after Cap Reduction, let me share my calculations as follows:-

1. Assuming no more share buy-back till Cap Reduction Exercise is carried out, balance of Treasury Shares (ie, shares bought-back as at 31/12/2012) of 64,959,800 shares (cost RM 30,484,000) have to be cancelled. This would reduce the NOSO to 708,398,000, and Share Capital to RM 356,194,000 (RM 386,678,000 - RM 30,484,000).
2. Net Negative balance in Total Reserves Accounts after setting-off accumulated losses of RM603,434,000 is RM 40,939,000.
3. Therefore, Capital Loss per share = RM 40,939,000/708,398,000 = 5.78 sens.
4. Whether there is a cash payout or not, the net negative balance in total reserves accounts has to be written-off against Share Capital in an approved Share Capital Reduction Scheme. This has to be done in order to put the balance sheet of the company on a stronger footing financially.
5. A cash payout and consolidation of the share's par value are a separate issue altogether in my view.
6. In my view, the most immediate, important financial issues to be carried out are:-
(a) Cancel the Treasury shares.
(b) Write-off the net negative balance in the total reserves accounts against share capital in an approved Share Capital Reduction Exercise to strengthen the company's balance sheet. Because this has ramifications on other issues, like ability to pay a dividend in the near future, etc.

If a par value reduction of 10 sens per share is also carried, followed by a par value consolidation to RM1.00 per share is carried out as part of the cap reduction scheme, then the further calculations are as follows:-
1. The number of shares to be cancelled = 708,398,000 X 1/5 = 141,679,600 shares valued @ 10 sens = RM 14,167, 960. This further reduce the Share Capital to (RM315,255,000 - RM 14,167,960) RM301,087,040.
2. A cash payout of RM0.10 or total of RM14,167,960.
3. Then, (708,398,000 - 141,679,040) = 566,718,400/2.5 = 226,687,360 share would be outstanding.
4. And the per share value would be = RM301,087,040/226,687,360 = RM1.33

abdulhalim said, ".so be humble and do not always be rude and disrespectful..." I sokong that!
We, here, are prepared for views from all spectrum of opinion, A to Z.
But please do it without being abusive, resorting to name-calling, and most of all, being DISRESPECTFUL!

PMCORP - Tax Implications of Cash Payment to Shareholders as a result of a Cap Reduction Exercise, and a special dividend payment:-
1. A special dividend payment has to be ruled out because it can only be paid out of Retained Earnings. PMC's total Reserves (including Retained Earnings) is negative to the tune of about RM 40M.
2. Cash payment after a Cap Reduction does not attract tax in Malaysia. In some countries it may attract Capital Gains tax because it can be argued that a cash distribution as a result of a Cap Reduction exercise reduces the initial cost of investing in the particular shares of the company. So, the reduction in the per share cost can, in a sense, be viewed as a "gain". But Malaysia does not have capital gains tax on share transactions.
3. As a recent example, Adventa paid a special dividend of RM1.30/share, and RM0.40/share (after a Cap Reduction Exercise) to its shareholders after disposing off its surgical glove manufacturing arm. I am an investor of Adventa shares and I received the total payment of RM1.70/share without having any tax deducted/with-held.

TA OUTLOOK FOR INARI:-
1. Both MACD Line and MACD Histograms show Bearish Divergence vis-a-vis Price. This is usually an early warning that price may reverse downwards. Be cautious.;
2. Price Rate Of Change (ROC) in Bearish Divergence with Price, although it is still indicating a Buy signal;
3. Accum/Distribn still indicates investors are still in net buying mood;
4. S1 @ 1.47, S2 @ 1.40;
5. 30mins Intra Day Chart shows it is going sideways within the range of 1.47 to 1.60 .
6. Stochastic (5,3,3) @ 61.5%, indicating not overbought yet.

THE STRONG FUNDAMENTALS OF PMCORP:
The latest Balance Sheet (as at 30/09/2013) shows its total assets is RM292,627M, and total liab is only RM18,695M. In other words, its total assets is 1565% more than its total liabilities. Short term borrowings is a mere RM264,000, and long term borrowings only RM6,353M. Its latest Net Assets Per Share is 38.6 sens! At a current price of 24 Sens, U will be getting it at a discount of 38%!

The most conservative measure of a share's value in FA is: Net Net Current Assets (NNCA) = Current Assets - Total Liabilities.
The NNCA of PMC as at Sept.30, 2013 is 22 sens (Vs 16 sens as at Dec.31, 2012).
At below 22 sens, PMC would be grossly undervalued. Price may not go below 16 sens as this was the NNCA as at end of last financial year. At 22 sens there is a strong historical, classical, multiple support. In the event that support is breached, the next support is at 20.5 sens.

sense maker, u don't make sense (pardon the pun) with yr unrealistic assumptions.

And nobody wants to sell @ 0.245

Analysis of the free float of PMCORP shares and its effect on the price of its share:
1. MUI holds 70% + 10% bought back = 80% of PMC shares.
2. Out of 20% free float, 10% holders are long term investors (per Calvintan).
3. Therefore, only 10% (or 70.8M shares) truly free float shares.
4. Total shares sold-off from Nov.12 (beginning of recent sell-off) till Dec. 4 = about 58.65M shares.
5. Total shares bought back in same period = 26.43M.
6. Therefore, free float held as unsold after sell-off = (70.8 - 58.65M)
= 12.15M. These holders can be considered as long term investors.
7. Assuming that 70% of those who bought shares during this period (Nov. 12 - Dec. 4) as those who bought for the long term. This means another (26.43M X 70%) = 18.5M to be added to those who did not participate in the recent sell-off = 18.5M + 12.15M = 30.65M long term shareholders.
13. Therefore, the undecided shareholders are (58.65M - 30.65M) = 28M.
14. What would be the effect if these 28M shares are sold in 1 day? Taking Nov.13 worst recent sell-off day when 28.1M shares were transacted, and the price dropped 4 sens, the price may drop another 4 sens from 25 sens close (Dec 4) to 21 sens.
Note: My above assumptions may not be quite correct. I'm just trying to put some solid, rational basis for and on how much PMCORP price may drop further. Up to now, all the talk about further price drops are just conjectures plucked from the air, and not backed up with any data.

Latest News from MarketWatch,
http://www.marketwatch.com/story/new-us-home-sales-leap-25%-in-october-2013-12-04?dist=lcountdown
Dow, Nasdaq, n S&P500 in positive territory!

Zu1967, Tsurukame's line of questioning is like that of an attorney of law. With his method, he will be able to soon flush out the false from the genuine. This forum is infiltrated with a number of "pretenders" n "sharks" n "naysayers" who want to "goyang" the resolve of the long term investors. They should be spotlighted for who they are and flushed out of here.

moneyking96 said: "Us future drop... Tmr sure red sea in bursa..pmcorp are in trouble of throwing by panic" Pls don't make sweeping statements like this. Read carefully below, ... and then only, make rational comments.

A series of Good US News, notwithstanding stock futures are slightly down:
1. http://www.marketwatch.com/story/private-sector-adds-215000-jobs-in-november-adp-2013-12-04-8911959
2. http://blogs.marketwatch.com/capitolreport/2013/12/03/feds-williams-only-taper-when-sure-economy-on-right-track/
3. October trade deficit falls 5.4% to $40.6 billion
4. October U.S. exports rise 1.8% to $192.7 billion
Stock futures are slightly negative as an immediate reaction to the good news about job improvement being more than expected, because of fears of Fed tapering. But this is irrational and playing to the bears. Read what Fed's Williams said at above (2) site.

mikekong55, sorry can't help u. Those counters not in my portfolio. so don't have knowledge (FA/TA) of them. Go n enjoy yr well-earned holiday in Europe. Bon voyage! Happy n Blessed Christmas n New Year to U n yr family.

PAN MALAYSIA CAPITAL BERHAD

Date of change 03/12/2013
Name Ho Chun Fuat
Age 46
Nationality Malaysian
Designation Chief Financial Officer
Type of change Resignation
Reason Pursue other career opportunities
Details of any disagreement that he/she has with the Board of Directors: No
Whether there are any matters that need to be brought to the attention of the shareholders: No

Calvintan, pls don't be offended with what I've to say, ...
Calvintan, you seem to be having some "insider" knowledge of PMC's NFI operations. As such, you seem to be able to provide us with some predictive infor on NFI's business that only an insider can have. But you're only an outsider looking in. You are not the management of the company who are "on the ball" day-to-day.
What I'm trying to tell you, Calvintan, is not to over-reach, or get too far ahead of yourself in "forecasting" the future results of PMC/NFI for this or other forum, because there are a lot of "sharks" waiting to tear you apart if actual results were to fall short of your "forecast", even if by a small margin!
Having said that, I would say PMC is a turnaround story still in the making. And turnarounds would normally take at least a year. But if the management of PMC can turn out a set of spectacular results by Dec 31, 2013, well, it would be a very, very nice change indeed! And your detractors would then have to ...

Thanks, Huangbk72, for sharing the infor on Myanmar re Tudor Choco sales there. We need every piece of good news about NFI products sales to boost confidence in the stock in addition to its financial prospects/footing.