pls refer bursa anouncement.... dato biji sura no more related to tekad mulia... one road block down.... now only left one road block...

sorry... should be mpcorp....

ds... pmcorp promoter is calvintaneng... read a lot about his review and article in jbhouse.com... pmcorp is good for long term... but unfortunately for me... pmcorp is a non syariah compliance...

26/3: a no show event:
Recap, the show stopper!!! & expectation.
Regularisation plan is on tract.
4 qtr result - new sumatec is like a unit trust fund, loan to creditors settled, +ve balance sheet and some fund for new business capital expenditure.
GDPA will bring in another USD 7.5M upon signing to 1st qtr 2014. This will confirm 2 qtr profit for upliftment from PN17. But we hv 5 show stopper preventing the price to fly high.
1) Ex director dumping - done.
2) ESOS for CD - price fixing based on average movement with 10% discount, possibly 0.244 same as existing esos. (if this is the case, then the price will be 0.27, however last Friday saw big vol Q buy at 0.295 - like a support). Soon post 26/3 - done.
3) PP - suppressing the price down, need to know who and at what price, only then the price will be freely up or down.
4) 3.086 B no of shares floating (assume price 0.30, it's RM 900+ M mkt capital, already too big for PN17 co) - this is fundamental/ natural show stopper, price movement will depend on market sentiment. CD once said during interview with BFM radio back in June 2013 when regularisation done as per plan, he expect the price to be 0.40++ with EPS 2-4 cts due to this 3+ billion shares. (with add GDPA + further confirmation of 2P for the rest 90% area (currently only 10% of Shelly field in production) + new field aquisition -- the price should be 0.50-0.60 with eps 6 cts. hopefully)
5) RSS Regulated Short Selling - this is market sentiment, with current price movement 0.5-1 cts, RSS is not feasible.
And another one - PN17 co, once out fr PN17, estimated around June14, price will up 30% (limit up), based on other co thhe, ho hup (awaiting approval) etc.
Expectation:
1) Scrap PP - if only to bring in big name, sumatec may invite speculative player (in a way it is good) but sumatec should be a fundamental based ctr after hard long regularisation exercise. Furhermore, with estimated RM 85M proceeds, what & where o&g field can be purchased with this amount? Shelly field also cost RM 456M. If the new field is high 2P proven, cash call to shareholder can be done, (as shown in the regularisation exercise - RM 456M raised) or issuance of sukuk as an option mention in radio interview.
2) 3.086 B no of share - share consolidation & increase back par value - this will increase the share price.
3) Unit trust like - yes, with current condition, sumatec is behaving like unit trust, with good fundamental & prospect, price appreciation will slowly show - this ctr only suit long term investor.
4) 26/3 EGM - no more blackout please.... we need news on workover progress, the 2P certification for the rest 90% area, any new field etc. If still news blackout, suggest to reject 2nd resolution, not to say CD dont deserve ESOS, but to show dissatisfaction on the BLACKOUT!
- This is the view from layman perspective with no finance or TA background, any mistake on the number or assumption, aprreciate a constructive comment - no bashing please.

thh ramunia in teluk ramunia hv been sold to sime. and sime taken over by mmhe. thhe yard now is in pulau indah. ex oilcorp fabrication yard...

hi... points to ponder... hibiscus is e&p co. so far what hibis has done is 'e'.. explore & drilling... to confirm the oil.. drill no1 failed.... 'lost money'.... drill no2 success... (confirm the reserves)... also 'lost money'.. as both are cost for drilling... to recover need to produce & sell the oil... then hibiscs become 'p'.. production... this oman activity is a long way to go... the fastest is around 3yrs... ie design & build/construct wellhead platform.. then install & commissioning... then only normal production... (money flowing in)... money from IPO already used to buy assets & capex for 'e'.... for next stage 'p', hibiscus need money for capex 'p'.... maybe a cash call from share holders, bank loan or sell 10-15% interest in this oman reserves to other investor... so this drill no2 need to be absolutely successful and show proves of valuable reserve to attract other investor or bank to give loan...
p/s. the cost for simple wellhead platform approx rm 300 - 400 M.

ning baizura.... christ dalton's wife