ya same here

Lets hope top glove resumed trading dont drop too til trigger margin cal

Let hope resume trading wont drop much or else trigger margin cal

I wil buy again 2molo if dropped til 10cts

Ncm88 ive bn holding my eg for awhile

THE reverse takeover (RTO) of Ancom Logistics Bhd (ALB) by S7 Holdings Sdn Bhd is a positive move for Ancom Bhd, making it part of a bigger group.

“Ancom was selling ALB’s assets to Nylex (Malaysia) Bhd, which would allow it to streamline its operations by making logistics in-house, and Ancom would be able to reduce its debt to Nylex at the same time,” said a source close to Ancom management.

Nylex made up 50% of ALB’s business, according to the source.

At the same time, after selling ALB’s assets, Ancom needed to find an asset to inject into ALB, as it would have become a shell company.

“S7 came with the offer to RTO for S5, one of its holdings of which it owns about 70%, and this was timely, saving Ancom the time looking for an asset to inject into ALB,” said the source.

It was also explained that, even after dilution, Ancom would own about 5% of S5 Holdings Inc, a frontrunner of the National Integrated Immigration System contract (NIIS) worth RM1.5 bil. This would also raise Ancom’s value from owning a stake “in a RM900 mil company, according to MyEG Services Bhd’s deal.” For context, MyEG had paid RM90 mil for a 10% stake in S5.

“ALB went from a break-even ACE Market counter to issuing at 10 sen at a 473 million share base, and is being sold at RM47 mil. Discounting the net asset per share of 5 sen, ALB is being sold at a 5 sen premium, for RM24 mil. This is a very good price for a shell,” said the source.

Although there were also concerns raised about political motivations behind the deal, the source pointed out that this was merely a matter of timing.

“The S5 deal is merely timely, and S5 is also looking to conclude an RTO quickly, having been delayed by the ConnectCounty Holdings Bhd attempt,” said the source, noting that the current deal with ALB was not the same as the verbal agreement between S5 and ConnectCounty, due to a heads of agreement having been signed.

“The tender for the NIIS is a bonus, and as a minority shareholder, we would view it as good news should it be awarded to S5,” said the source.

Bursa filings were made by both Ancom and MyEG, with suspensions of trading for both companies.

“ALB has entered into a Heads of Agreement with S7 Holdings Sdn Bhd, Merrington Assets Limited, MyEG Capital Sdn Bhd and Avocat Sdn Bhd,” said Ancom, according to the bourse filing dated July 16.

At the market’s noon close, Ancom’s shares were last done at 81 sen, up 4 sen, with 22.4 million shares traded. – July 16, 2020

THE reverse takeover (RTO) of Ancom Logistics Bhd (ALB) by S7 Holdings Sdn Bhd is a positive move for Ancom Bhd, making it part of a bigger group.

“Ancom was selling ALB’s assets to Nylex (Malaysia) Bhd, which would allow it to streamline its operations by making logistics in-house, and Ancom would be able to reduce its debt to Nylex at the same time,” said a source close to Ancom management.

Nylex made up 50% of ALB’s business, according to the source.

At the same time, after selling ALB’s assets, Ancom needed to find an asset to inject into ALB, as it would have become a shell company.

“S7 came with the offer to RTO for S5, one of its holdings of which it owns about 70%, and this was timely, saving Ancom the time looking for an asset to inject into ALB,” said the source.

It was also explained that, even after dilution, Ancom would own about 5% of S5 Holdings Inc, a frontrunner of the National Integrated Immigration System contract (NIIS) worth RM1.5 bil. This would also raise Ancom’s value from owning a stake “in a RM900 mil company, according to MyEG Services Bhd’s deal.” For context, MyEG had paid RM90 mil for a 10% stake in S5.

“ALB went from a break-even ACE Market counter to issuing at 10 sen at a 473 million share base, and is being sold at RM47 mil. Discounting the net asset per share of 5 sen, ALB is being sold at a 5 sen premium, for RM24 mil. This is a very good price for a shell,” said the source.

Although there were also concerns raised about political motivations behind the deal, the source pointed out that this was merely a matter of timing.

“The S5 deal is merely timely, and S5 is also looking to conclude an RTO quickly, having been delayed by the ConnectCounty Holdings Bhd attempt,” said the source, noting that the current deal with ALB was not the same as the verbal agreement between S5 and ConnectCounty, due to a heads of agreement having been signed.

“The tender for the NIIS is a bonus, and as a minority shareholder, we would view it as good news should it be awarded to S5,” said the source.

Bursa filings were made by both Ancom and MyEG, with suspensions of trading for both companies.

“ALB has entered into a Heads of Agreement with S7 Holdings Sdn Bhd, Merrington Assets Limited, MyEG Capital Sdn Bhd and Avocat Sdn Bhd,” said Ancom, according to the bourse filing dated July 16.

At the market’s noon close, Ancom’s shares were last done at 81 sen, up 4 sen, with 22.4 million shares traded. – July 16, 2020

Yes Sayonara

THE reverse takeover (RTO) of Ancom Logistics Bhd (ALB) by S7 Holdings Sdn Bhd is a positive move for Ancom Bhd, making it part of a bigger group.

“Ancom was selling ALB’s assets to Nylex (Malaysia) Bhd, which would allow it to streamline its operations by making logistics in-house, and Ancom would be able to reduce its debt to Nylex at the same time,” said a source close to Ancom management.

Nylex made up 50% of ALB’s business, according to the source.

At the same time, after selling ALB’s assets, Ancom needed to find an asset to inject into ALB, as it would have become a shell company.

“S7 came with the offer to RTO for S5, one of its holdings of which it owns about 70%, and this was timely, saving Ancom the time looking for an asset to inject into ALB,” said the source.

It was also explained that, even after dilution, Ancom would own about 5% of S5 Holdings Inc, a frontrunner of the National Integrated Immigration System contract (NIIS) worth RM1.5 bil. This would also raise Ancom’s value from owning a stake “in a RM900 mil company, according to MyEG Services Bhd’s deal.” For context, MyEG had paid RM90 mil for a 10% stake in S5.

“ALB went from a break-even ACE Market counter to issuing at 10 sen at a 473 million share base, and is being sold at RM47 mil. Discounting the net asset per share of 5 sen, ALB is being sold at a 5 sen premium, for RM24 mil. This is a very good price for a shell,” said the source.

Although there were also concerns raised about political motivations behind the deal, the source pointed out that this was merely a matter of timing.

“The S5 deal is merely timely, and S5 is also looking to conclude an RTO quickly, having been delayed by the ConnectCounty Holdings Bhd attempt,” said the source, noting that the current deal with ALB was not the same as the verbal agreement between S5 and ConnectCounty, due to a heads of agreement having been signed.

“The tender for the NIIS is a bonus, and as a minority shareholder, we would view it as good news should it be awarded to S5,” said the source.

Bursa filings were made by both Ancom and MyEG, with suspensions of trading for both companies.

“ALB has entered into a Heads of Agreement with S7 Holdings Sdn Bhd, Merrington Assets Limited, MyEG Capital Sdn Bhd and Avocat Sdn Bhd,” said Ancom, according to the bourse filing dated July 16.

At the market’s noon close, Ancom’s shares were last done at 81 sen, up 4 sen, with 22.4 million shares traded. – July 16, 2020

Congrats hopefully fly higher

KUALA LUMPUR (July 16): MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has announced that it will be disposing of its 10% stake in S5 Holdings Inc to Ancom Logistics Bhd today, a mere five weeks after announcing its plans to purchase equity in the national security solution provider.

In a filing with Bursa Malaysia, MyEG said its subsidiary and other vendors S7 Holdings Sdn Bhd, Merrington Assets Ltd (MAL) and Avocat Sdn Bhd had entered into a heads of agreement with Ancom Logistics and its parent Ancom Bhd to undertake a reverse takeover (RTO) of S5. 

S5 has three subsidiaries, one of which is involved in the provision of national security solutions.

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The RTO entails the proposed acquisition by Ancom Logistics of S5’s entire share capital from the four vendors at a price to be agreed upon by the parties involved, subject to a valuation report by an independent party.

Ancom Logistics will fulfil the purchase by issuing new ordinary shares to the vendors at 10 sen apiece.

The vendors will then make a mandatory general offer for all of Ancom Logistics shares that they do not already own, and offer some of the new ordinary shares for sale to independent third-party investors.

MyEG said the proposed RTO provides an avenue to unlock its initial investment — of RM90 million for a 10% stake in S5, thus roughly valuing the company at a whopping RM900 million — as the latter would be listed on the ACE Market and gain access to public markets, boost its standing, and enhance its value through better liquidity and prospective interest from more investors.

The announcement confirms an exclusive report by theedgemarkets.com yesterday about the restructuring of Ancom’s group of companies and its acqusition of S5.

As at 11.08am, MyEG was up three sen or 2.07% at RM1.48, valuing the company at RM5.13 billion.

In long run how much does this new co worth???

It involved so many parties all bcos of what?? RM1.5BILLION CONTRACT...Thats the BIGGEST LUCRATIVE ATTRACTION

Move over to ancom logistic

This pc of news like final nail to connect co...

KUALA LUMPUR (July 16): MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has announced that it will be disposing of its 10% stake in S5 Holdings Inc to Ancom Logistics Bhd today, a mere five weeks after announcing its plans to purchase equity in the national security solution provider.

In a filing with Bursa Malaysia, MyEG said its subsidiary and other vendors S7 Holdings Sdn Bhd, Merrington Assets Ltd (MAL) and Avocat Sdn Bhd had entered into a heads of agreement with Ancom Logistics and its parent Ancom Bhd to undertake a reverse takeover (RTO) of S5. 

S5 has three subsidiaries, one of which is involved in the provision of national security solutions.

Advertisement

The RTO entails the proposed acquisition by Ancom Logistics of S5’s entire share capital from the four vendors at a price to be agreed upon by the parties involved, subject to a valuation report by an independent party.

Ancom Logistics will fulfil the purchase by issuing new ordinary shares to the vendors at 10 sen apiece.

The vendors will then make a mandatory general offer for all of Ancom Logistics shares that they do not already own, and offer some of the new ordinary shares for sale to independent third-party investors.

MyEG said the proposed RTO provides an avenue to unlock its initial investment — of RM90 million for a 10% stake in S5, thus roughly valuing the company at a whopping RM900 million — as the latter would be listed on the ACE Market and gain access to public markets, boost its standing, and enhance its value through better liquidity and prospective interest from more investors.

The announcement confirms an exclusive report by theedgemarkets.com yesterday about the restructuring of Ancom’s group of companies and its acqusition of S5.

As at 11.08am, MyEG was up three sen or 2.07% at RM1.48, valuing the company at RM5.13 billion.

So this addtional pc of news wil quash all doubt on Ancom Logistic Back Door Listing.

KUALA LUMPUR (July 16): MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has announced that it will be disposing of its 10% stake in S5 Holdings Inc to Ancom Logistics Bhd today, a mere five weeks after announcing its plans to purchase equity in the national security solution provider.

In a filing with Bursa Malaysia, MyEG said its subsidiary and other vendors S7 Holdings Sdn Bhd, Merrington Assets Ltd (MAL) and Avocat Sdn Bhd had entered into a heads of agreement with Ancom Logistics and its parent Ancom Bhd to undertake a reverse takeover (RTO) of S5. 

S5 has three subsidiaries, one of which is involved in the provision of national security solutions.

Advertisement

The RTO entails the proposed acquisition by Ancom Logistics of S5’s entire share capital from the four vendors at a price to be agreed upon by the parties involved, subject to a valuation report by an independent party.

Ancom Logistics will fulfil the purchase by issuing new ordinary shares to the vendors at 10 sen apiece.

The vendors will then make a mandatory general offer for all of Ancom Logistics shares that they do not already own, and offer some of the new ordinary shares for sale to independent third-party investors.

MyEG said the proposed RTO provides an avenue to unlock its initial investment — of RM90 million for a 10% stake in S5, thus roughly valuing the company at a whopping RM900 million — as the latter would be listed on the ACE Market and gain access to public markets, boost its standing, and enhance its value through better liquidity and prospective interest from more investors.

The announcement confirms an exclusive report by theedgemarkets.com yesterday about the restructuring of Ancom’s group of companies and its acqusition of S5.

As at 11.08am, MyEG was up three sen or 2.07% at RM1.48, valuing the company at RM5.13 billion.

Yes agreed why go thru all the trouble if not a done deal..
No easy to just suspend trading of all 3 counters...Is not for fun

By theedgemarkets.com | 2020-07-16 11:36:48
KUALA LUMPUR (July 16): S5 Holdings Inc, a company that provides integrated security IT solutions to governments, is seeking a backdoor listing via Ancom Logistics Bhd (ALB).

In a bourse filing, ALB announced its proposed takeover of S5 Holdings from the latter's existing shareholders, namely S7 Holdings Sdn Bhd, Merrington Assets Ltd, MY EG Cpaital Sdn Bhd and Avocat Sdn Bhd at a price to be determined later after an independent valuation is done.

ALB has entered into heads of agreement with the four shareholders of S5 Holdings.

The shareholders of S7 Holdings are Syed Mohamad Hafiz Syed Razlan, Kamarul Baharin Ghazali and Jennie Tan Jen Yih.

For Merrington Assets, the shareholders include Vent Millions Sdn Bhd and Barolagun Sdn Bhd.

Meanwhile, Avocat's shareholder is Lim Beng Guan.

The acquisition will be settled in the form of shares. The vendors will launch a mandatory general offer for the shares not owned in ALB upon fulfilling all conditions for S5 Holdings to be listed.

Subsequently, the company will undertake private placement of new shares, which is believed to be a move to address its public shareholding spread to meet the listing requirement.


The announcement confirms the news reports by theedgemarkets.com titled Ancom group to restructure, see entry of immigration tech company S5.

Hopefully wil fly up to limit up

A bit concrete wt this news announced

Gone for good Connect RTO

business in Nylex [(Malaysia) Bhd] into a more integrated chemical distribution player upon completion of the proposed disposal.

“The details of the financial effects would be announced as soon as the definitive agreements have been finalised.

“The board, having considered all the relevant factors in respect of the proposals, is of the opinion that the proposals is in the best interest of the company subject to independent valuations, due diligence and finalisation of definitive agreements,” said Ancom.

In June, public-listed My EG Services Bhd's unit MY EG Capital announced its plans to buy a 10% stake in S5 Holdings for RM90 million. Based on the valuation, a back-of-envelope calculation shows that S5 Holdings will be valued at RM900 million. ALB's market capitalisation stands at RM156 million based on share price of 33 sen.

At 11.26am, Ancom shares rose 5.84% or 4.5 sen to 81.5 sen, valuing the group at RM206.15 million.

I stil hold..
small hope either copper or glove deal materialised...i wil average down my price

Fr Super Bullish to Super Bearish

Parent co is Ancom..
s5 bk door listing ancom logistic...

Agreed Pershing

No need whole RM1.5b a few hundred millions contract wil do

Nobody factor in the RM1.5billion NIIS contract...?

Refresh

KUALA LUMPUR: The RM1.5 billion National Integrated Immigration System (IIS) is expected to be awarded in the third quarter of this year, sources said.

Talks have it that S5 Holdings Inc's unit S5 Systems Sdn Bhd has joined the likes of Iris Corp Bhd, MyEG Services Bhd, Datasonic Group Bhd and HeiTech Padu Bhd as bidders for the contract.


S5 Systems had the track record and position as a market leader in the provision of national security solutions, said people with knowledge on the matter.

The ISS project is essentially the new version of what was previously called SKIN or Sistem Kawalan Imigresen Nasional, worth RM3.5 billion.

According to the latest filings, S5 Systems' total assets stand at RM82.7 million.

It's net profit for the year ended June 30, 2019 was RM68.3 million on the back of a revenue of RM116.8 million.

A mere change of listing name to MAYB S5 System wil spike up the price

Certainly worth more than current price wt back door listing if NIIS contract not secured...All the parties so confident...Niis could hv bn done deak for S5. Politic play involved...

Is there actually a 'JB ' in the 1st place??? Many stil waiting for a reply fr him

Dont know about u guys i felt i bn taken for a long ride luckily i offload a few days ago....Pity those still holding til today...i shared all yr pain...thru it out just like u i waited and waited and waited..RTO stuff not easy though....who knows i might b wrong...the deal mayb stil on until someone fr Connect announced it is NoT

Just like Anzo BoD after china investors pulled out as 1 of the share holders they did clarify the copper deal stil ON

BOD of connect shud come out and clarify on the latest...

S5 tipped to take over Ancom Logistics, say sources

By Emmanuel Samarathisa |  34 minutes ago |  Mainstream

SECURITY solutions provider S5 Holdings Inc is seeking to do a reverse takeover (RTO) of Ancom Logistics Bhd (ALB), people familiar with the matter tell FocusM.

“S5 will be the majority shareholder of ALB while Ancom will have a minority stake in the company, estimated to be at 5% after dilution, with room to enlarge its shareholding in the future,” a source said. 

S5 had been tipped to be a frontrunner for the RM1.5 bil National Integrated Immigration System (NIIS) contract. The winner of the tender is expected to be announced soon. 

E-government services provider MyEG Services Bhd had also offered to take up a 10% stake in S5 for RM90 mil from Merrington Assets Ltd.

Ancom Bhd is the holding company of ALB as well as Nylex (Malaysia) Bhd. This means the initial RTO of ACE Market-listed ConnectCounty Holdings Bhd reported on June 16 had collapsed. ALB is also listed on the ACE. 

The Edge reported today that emergency board meetings had been called for all three companies under the Ancom group to discuss “restructuring plans for the whole group.”

Ancom Bhd, ALB and Nylex had requested for a suspension of the trading of their securities from 9am to 5pm today, pending a material announcement on a corporate exercise.

ALB’s core business is in tanking and logistics of petrochemicals and chemicals while Nylex is involved in the distribution and manufacturing of petrochemicals and industrial chemical products. 

Ancom was seeking to consolidate its logistics assets under Nylex, said The Edge. 

Prior to having their shares suspended, Ancom Bhd and Nylex’s shares closed at 77 sen with a market capitalisation of RM183.2 mil and RM134.69 mil respectively.

ALB, on the other hand, closed at 13 sen with a market value of RM61.53 mil. – July 15, 2020

NCM88 R u blind? I think u r retarded ka ...dont know how to read ka...3 counters suspended..back door listing thru one,!!!

S5 tipped to take over Ancom Logistics, say sources

By Emmanuel Samarathisa |  34 minutes ago |  Mainstream

SECURITY solutions provider S5 Holdings Inc is seeking to do a reverse takeover (RTO) of Ancom Logistics Bhd (ALB), people familiar with the matter tell FocusM.

“S5 will be the majority shareholder of ALB while Ancom will have a minority stake in the company, estimated to be at 5% after dilution, with room to enlarge its shareholding in the future,” a source said. 

S5 had been tipped to be a frontrunner for the RM1.5 bil National Integrated Immigration System (NIIS) contract. The winner of the tender is expected to be announced soon. 

E-government services provider MyEG Services Bhd had also offered to take up a 10% stake in S5 for RM90 mil from Merrington Assets Ltd.

Ancom Bhd is the holding company of ALB as well as Nylex (Malaysia) Bhd. This means the initial RTO of ACE Market-listed ConnectCounty Holdings Bhd reported on June 16 had collapsed. ALB is also listed on the ACE. 

The Edge reported today that emergency board meetings had been called for all three companies under the Ancom group to discuss “restructuring plans for the whole group.”

Ancom Bhd, ALB and Nylex had requested for a suspension of the trading of their securities from 9am to 5pm today, pending a material announcement on a corporate exercise.

ALB’s core business is in tanking and logistics of petrochemicals and chemicals while Nylex is involved in the distribution and manufacturing of petrochemicals and industrial chemical products. 

Ancom was seeking to consolidate its logistics assets under Nylex, said The Edge. 

Prior to having their shares suspended, Ancom Bhd and Nylex’s shares closed at 77 sen with a market capitalisation of RM183.2 mil and RM134.69 mil respectively.

ALB, on the other hand, closed at 13 sen with a market value of RM61.53 mil. – July 15, 2020

Focus Msia recd 40mins ago

The RTO of connect has COLLAPSED

S5 tipped to take over Ancom Logistics, say sources

By Emmanuel Samarathisa |  34 minutes ago |  Mainstream

SECURITY solutions provider S5 Holdings Inc is seeking to do a reverse takeover (RTO) of Ancom Logistics Bhd (ALB), people familiar with the matter tell FocusM.

“S5 will be the majority shareholder of ALB while Ancom will have a minority stake in the company, estimated to be at 5% after dilution, with room to enlarge its shareholding in the future,” a source said. 

S5 had been tipped to be a frontrunner for the RM1.5 bil National Integrated Immigration System (NIIS) contract. The winner of the tender is expected to be announced soon. 

E-government services provider MyEG Services Bhd had also offered to take up a 10% stake in S5 for RM90 mil from Merrington Assets Ltd.

Ancom Bhd is the holding company of ALB as well as Nylex (Malaysia) Bhd. This means the initial RTO of ACE Market-listed ConnectCounty Holdings Bhd reported on June 16 had collapsed. ALB is also listed on the ACE. 

The Edge reported today that emergency board meetings had been called for all three companies under the Ancom group to discuss “restructuring plans for the whole group.”

Ancom Bhd, ALB and Nylex had requested for a suspension of the trading of their securities from 9am to 5pm today, pending a material announcement on a corporate exercise.

ALB’s core business is in tanking and logistics of petrochemicals and chemicals while Nylex is involved in the distribution and manufacturing of petrochemicals and industrial chemical products. 

Ancom was seeking to consolidate its logistics assets under Nylex, said The Edge. 

Prior to having their shares suspended, Ancom Bhd and Nylex’s shares closed at 77 sen with a market capitalisation of RM183.2 mil and RM134.69 mil respectively.

ALB, on the other hand, closed at 13 sen with a market value of RM61.53 mil. – July 15, 2020

I guess many relieved feeling here among those stil holding anzo shares...

Agreed... the annoucement today reassured alot shareholders...that the copper deal stil intact..they are serious to see it thru...Price shud go up 2molo Anzo...Sentiment towards this Counter totally changed now fr anxiety, doubt n negative to vr positive n bullish...

Looks like instead of RTO S5 going for back door listing

S5 going for bk door listing

Ancom Bhd, Ancom Logistics and Nylex had requested for a suspension of the trading of their securities from 9am to 5pm today, pending a material announcement on a corporate exercise

Lets wait and see 2molo