Thanks, mikekong55, for appreciating my Bearish Divergence warning yesterday (4.27pm).

Just spotted Bearish Divergence in MACD Histogram Vs Price N also MACD Line. Be careful.

TP2 = 0.44
(ABOVE POST JUST FOR YOUR INFOR. ONLY. NOT ADVICE TO BUY OR SELL)

PMCORP BREAK-OUT FROM BULL FLAG WITH HIGH VOL. Crossed top of flag-pole @0.355. Meeting R1 band @0.37-0.375. TP1 = 0.395-0.40.

Hi mikekong55, "mktwatch,not mistaken KKP bought the block of share over from PNB @ 0.14 in april '13.not 342m as mention if not mistaken around 28m. that time share still trading @ 0.105/0.115 I'm very sure.correct me if I'm wrong."

Yes, I stand corrected. The qty bought by KKP is not as high as 342m. I did not take note of the "deemed interests" duplication of reporting required by Bursa. Taking that into consideration, the total qty he bought in april was about 70m-80m.

Thanks for pointing out the mistake.

A check with the Bursa web site revealed that in the mth of April 2013, Tan Sri KKP (thro' MUI, PMIND, n various nominees) bought about 342.2M shares of PMCORP. By doing so, he gave the shares of the company the impetus to rise n rise from May onwards. Thank you Tan Sri! And we hope you will hold on to those additional shares you've acquired recently.

Hi mikekong55, I'm assuming that the Board of PMCORP decides to carry-out the Capital Reduction exercise in a 2 part program.
Part 1:
1. There's the 65M treasury stocks which they've been buying-back since 2006 to 2012, which they have to cancel first @ par value of 50sens/share. This works out to RM32,479,900, which is debited to Share Capital A/c, and credited to Capital Reduction a/c. At the same time, the cost of the shares bought-back as treasury shares is then transferred from T.Shares A/c to debit Cap.Reduction a/c. This amount is RM30,484,000. So, there's a credit balance of RM1,995,900 (RM32,479,900-RM30,484,000).
2. This credit bal in the Cap. Reductn A/c is then transferred to credit a Reserve A/c, so setting off the negative or debit bal in the Reserves a/c by RM1,995,900. The net bal of RM38,943,100 (Dr.) is then w/off against Share Capital a/c.
3. Bal of shares oustanding is then = 708,397,200 shares.

Part 2:
1. After Part 1 is carried out, Part 2 can then proceed. I am assuming the Board decides to reduce the par value per share from 50sen to 25sen.
2. This means a cancellation of 25sen/share, which would require cancellation of 1/2 of NOS outstding, ie 354,198,600 shares.
3. Total amount to be cancelled from Share Capital a/c = 354,198,600 x 25sens = RM88,549,650. This is the amount we can expect to receive as Cash Payout if the Capital Reduction exercise is proposed by the Board and all relevant approvals are obtained in EGM, from bursa, etc.
4. Bal in Share Capital a/c after the whole scheme is concluded = RM226,705,350 (or 64sens/share based just on share capital bal.)

Thanks mikekong55. I'm glad to contribute towards greater clarity of the potential of this stock.

32.5 sens seems to be a strong support because of past periods' classical resistance turned support at 32.5-33.0sens.

30 min. chart shows a bullish flag, with a TP = 39.0sens if price rebounce.

Hi All Aspiring Choco Millionaires,
Let me share my 2 sens' worth on the financial effects of the much talked about Proposed Capital Reduction Scheme to be proposed by the Board of our PMCorp (yes, i'm one of you n with you guys):
I think the steps involved would be as follows:-
Part 1:
1. Cancel treasury share in stock = 64,959,800 shares @ current par value of 50sen = RM32,479,900;
2. Buy-back cost of the T. shares = RM30,484,000 (per Annual Report FYE2012)set-off against step(1)value = RM1,995,900 balance, which is set-off in turn against Reserves' negative balance of RM40,939,000.
3. Write-off Reserves balance of RM38,943,100 against Share Capital.
4. Balances after steps(1) - (3): No. of share outstanding = 708,397,200 shares; Balance in Share Capital = RM315,255,000.

Part 2:
1. Assuming reducing par value per share to 25 sen from 50 sen.
2. Then, 2 shares become 1 share. Reduce NOS by 1/2 to 354,198,600 shares.
3. Share Capital is further reduced by RM88,549,650. This is the amount shareholders would be paid in cash as the 'cash payout' we've been looking forward to.
4. Balance per Share Capital after the whole exercise = RM226,705,350.

Part 3 (Financial Effects after capital reduction exercise):
1. Proj NAV/SHARE = RM0.77 (vs. RM0.44 prev yr.).
2. Proj EPS = RM0.02 (Vs. RM0.0113 prev yr.)

Notes:
1. The projected NAV is based on a projected Revenue increase of 5.5% for this FYr. And proj NPAT of 8.8% of Revenue (this is derived from the average of FYE2012 n TTM 2013 up June30, 2013). Intangible assets are excluded from this calculation, but includes the increase in cash of RM38.18M from the sale of S'pore warehouse n land.
2. The proj EPS takes into account only the proj Net Operating Profit after tax for FYr2013.

So, the good effects of the proposed exercise are:
1. Increase in NAV to 77sens. Compare this with today's closing price of 33.5sens.
2. Increase in EPS to 2 sens from 1.113 sens.
3. Reduced NOS means further increases in the EPS if Rev n Profits continue to increase.
3. This may also result in lower PE in the future years.

Hope I've been able to provide some confidence building in the light of current profit taking situation in the stock.

total vol up to now 13.89M shares traded

Now 34.5 sen on vol of 1.7M shares.

And there are thousands of E-Cosway outlets all over the world.

Hi All! E-Cosway selling Tudor Gold (200mg packs) for RM10.00, 2 packs for RM19.00. mikekong55 is right - chart now in E.Wave3. This wave will continue for sometime cos wave is a rather long wave, n wave 3 got to be longer than wave 1.