Yes hold some

Late afternoon show

50cts 2 mouthful sapu o

Many dont knoe what else to expect after this bonus issue...which price to enter what tp ...many is trying to comprehend ' whats next'

Traders also dont know how to trade...what else to expect...bonus issue defined the end of up trend?.??
21/07/2020 3:01 PM

After announced Bonus Issue...Glove counters lost its Bearing

Hehe

Zecon gets shareholder nod for rights issue

By theedgemarkets.com | 2020-07-21 12:16:41
KUALA LUMPUR (July 21): Zecon Bhd has received approval from its shareholders for its proposed rights issue to address its current funding requirements to meet its short-term obligations and liabilities, as well as strengthen its financial position.

The Sarawak-based construction and property firm had announced on Feb 28 that it was planning to raise between RM19.4 million and RM46.1 million via a renounceable rights issue of up to 576.4 million of irredeemable convertible preference shares (ICPS) at an issue price of 8 sen each and a conversion rate of 16 sen.

Under the corporate exercise, each shareholder who already owns one Zecon share will receive four ICPS shares.

In a statement today, Zecon said its shareholders unanimously passed the resolution at the extraordinary general meeting on July 17.

Proceeds from the rights issue will be spent on working capital, to repay bank borrowings and for listing expenses.

"The rights issue of the ICPS augurs well for the company as it would further stimulate cash flow which in turn would further boost Zecon's net profit," said Zecon.

Zecon saw its net profit jump 59.7% year-on-year (y-o-y) to RM9.15 million in its third financial quarter ended March 31, 2020, mainly contributed by the Hospital Kanak-Kanak Universiti Kebangsaan Malaysia and the Pan Borneo projects.

Revenue for the quarter was up 26.9% y-o-y to RM143.1 million. For the nine-month period, the group registered a net profit of RM43.18 million compared with a net loss of RM8.76 million a year ago.

At 11.46am, Zecon shares were up 0.5 sen or 0.96% at 52.5 sen, bringing a market capitalisation of RM75.66 million. A total of 83,600 shares were traded.

Good or bad ?

RoyalExpert what is NSK?

Down trend is pickup opportunity

Who.made annoucement to Bursa? Ancom group or S5? S5 not even a listed co how to make annoucement to Bursa??? Stupid

Thus far not a single words fr S5 ...pertaining to Ancom deal except what we can read fr a few wtitten article...the same goes wt the earlier announced proposed rto of connect county...

Looks like by announcing the bonus issue has dampen the overall trading sentiment of glove n health related counters..
The impetus the excitement gone...

https://www.theedgemarkets.com/article/top-gloves-fair-value-could-surpass-rm110-affin-hwang-says?type=malaysia
TG TP RM46

Careplus n other smaller glove related counters all look up to the top 4 eps tg n supermaxx...now that both alrdy announced bonus issue...the price movement wil not gap up too much....this wil indirectly affect other glove related counters...

Ytday SC query ....but no solid reason given to justify movement of price...today sure no show ...counter under SC radar alrdy

Going down all the way

https://www.theedgemarkets.com/article/top-gloves-fair-value-could-surpass-rm110-affin-hwang-says?type=malaysia
TG TP RM46

TG TP rm46
https://www.theedgemarkets.com/article/top-gloves-fair-value-could-surpass-rm110-affin-hwang-says?type=malaysia

Top Glove TP RM46
https://www.theedgemarkets.com/article/top-gloves-fair-value-could-surpass-rm110-affin-hwang-says?type=malaysia

TP46

https://www.theedgemarkets.com/article/top-gloves-fair-value-could-surpass-rm110-affin-hwang-says?type=malaysia

Tks

Query by SC the price stil hold firm

While we were elaborating the stock has continue to go up... ppl hv bn making money for the past 3 trading session...we can continue elaborate further...but our perpective remain...we are to trade to make profit...Good fundamental stocks aint moving not making us profit...i rather trade moving cautiously...

Collecting at 50plus cts next gapped up to 60cts

Stimes when u trade in penny u must accept the risk is higher but if u sensed its goin down trend do find courage to chop down holding...The mkt sentiment is stil good we all can stil make money fr other pennu stock wt the fund stuck here...This is just my honest opinion

Unless they do know the announcement wil b vr soon

If u ask me i think this counter we can play many rounds til Niis annoucement

I stil buy at 50cts just now ....just me ...this is not a call for anyone to buy or sell...

i wil sell a little bcos i do know we might not able to buy back at the current price

Their target price definitely not below 50cts certainly wil.go up higher....til onwers or sharks target price...no big blocks of sellere along the way...

Cornered counter wt not many sellers

U cant stop a moving train

Good job everyone holding firm dont sell

easily past 50cts not many sellers the sky is the limit now

today nice for goreng looks like not many sellers

after 50cts then 60cts

Heading 50cts vr soon

Is it show time

When we trade penny stock the logic thinking, the fundamental n sound investment rules all thrown out the window...We mostly RIDE ON A HOPE & A BELIEVED.
Based on this trading principle that got me & some u trapped here..Vr sorry to say this....

Trade wt Caution...Eps penny stock...
is a 1-2days wonder swing up show...At current mkt Many Cooked Up Ambiguous Corporate News just to trap us...

Trading in penny stock quite risky ...a counter can gap up the most for 2 consecutive days...b4 falling under SC radar...Once u missed the chance to sell u might end up carrying yr loss for long period of time...the worse is u watch the price slowly dropping volumm of trade also dropped...then yr fund got locked up ..thats why one must dare to pare down yr losses n move on to other counters ...

When Ancomlogistic shot to limit up at 43cts when trading resumed i bought it when it went down to 34cts i bought more n when it went down to 29.5-31cts i again bought more to average down. My averaged price is 33 im in profit position...I wil probably sell some to make profit on monday if it gapped up..
any dropped i wil buy again...Some i wil keep til they announced Niis contract

Wt Connect County out...paved way for Ancom Group

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Syed Razlan himself was also former Arau MP, and he had joined Bersatu from Umno on July 15, 2018.

Refresh...old article but useful infos to share wt all

THE RM1.5 bil National Integrated Immigration System (IIS) is expected to be awarded in the third quarter of this year, instead of this month as was initially reported, according to people familiar with the matter.

The contract is for a total of 4.5 years including three years of development, six months of monitoring and final one year of maintenance period.

After the contract period, there is a maintenance contract, which will be about 15%-20% of the value of the project.

Names that have been bandied about include Iris Corp Bhd, MyEG Services Bhd, Datasonic Group Bhd and HeiTech Padu Bhd.

Datasonic previously told FocusM that the company was confident of securing the project. “We shall announce and update soonest possible once available,” Datasonic chief operating officer Danny Chew said.

There is also little-known S5 Systems Sdn Bhd which has garnered attention of late for being a bidder as well as seeking a backdoor listing through ACE Market-listed ConnectCounty Holdings Bhd.

But market talk has it that there might be consortiums formed among the bidders as this is an extensive project that requires significant capital expenditure and expertise.

The demand for gloves will continue....as cases increased...the sky is the limit now for all the top 4...