Oil Edges Higher Towards US$62, Ample Supplies Still Weigh

6 hours ago
LONDON: Oil edged up on Thursday towards US$62 a barrel as expectation of a coming recovery in global demand countered a further jump in U.S. crude stockpiles which underlined currently ample supplies.

Fgv n Felda r two different companies having stake in each other.They r having billions in cash reserve. Both Fgv n Si.... yield is very low 20mt n wt d present pr of palm oil its doomsday for them. Very bad m'ment. If Felda dont do well it has got nothing to do wt Iris. Iris price down becoz of Q report. Trs/Gst may push d price up now i think shd accumulate!

One instituition sells another buys otherwise price will drop very badly n d issue will be constantly raised in Parliament.Protectionism for a failed group of ppl who do not know how to do buisness. Just copy lah UP n KLK that also cannot.....mmmmmmmmmmmmmmm??????

MULTIPLE PROPOSALS SUMATEC RESOURCES BERHAD (“SUMATEC” OR “COMPANY”) (I) PROPOSED ACQUISITION; (II) PROPOSED RIGHTS ISSUE WITH WARRANTS; (III) PROPOSED IASC; AND (IV) PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS “PROPOSALS”

Amended Announcements
Please refer to the earlier announcement reference number: OS-150223-58251

SUMATEC RESOURCES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description SUMATEC RESOURCES BERHAD (“SUMATEC” OR “COMPANY”)

(I) PROPOSED ACQUISITION;
(II) PROPOSED RIGHTS ISSUE WITH WARRANTS;
(III) PROPOSED IASC; AND
(IV) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS “PROPOSALS”

Reference is made to the announcements dated 23 February 2015 in relation to the above matter. For consistency, the abbreviations used throughout this announcement are the same as those in the previous announcements.

M&A Securities, on behalf of the Company, wishes to clarify that the number of additional Warrants-A and additional Warrants-B approved for listing of and quotation for by Bursa Securities should be read as follows:-

(a) Listing of and quotation for:-

(i) Up to 1,379,173 additional Warrants-A pursuant to the Rights Adjustments;
(ii) Up to 6,591,070 additional Warrants-B pursuant to the Rights Adjustments; and
(iii) Up to 7,970,243 new Sumatec Shares to be issued pursuant to the full exercise of additional Warrants-A and additional Warrants-B.

Save for the above, the other terms of the approval obtained by Bursa Securities on 23 February 2015 remain unchanged.

This announcement is dated 26 February 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1886441 Look at UP performance who r growing d same trees as Felda.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1886441 Look at UP performance exceptional

5 Basic earnings/(loss) per share (Subunit)
11.09. Eps last Q
0.98
11.73 Eps todate
3.77
................very good so goreng may start

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1886081

TRS/GST is a boost for Iris.

Ring Iris Corp 3Q net profit plunges 57.4% on one-off loss from Bangkok plant disposal

By Supriya Surendran / theedgemarkets.com | February 25, 2015 : 3:52 PM MYT

KUALA LUMPUR (Feb 25): Iris Corp Bhd's net profit for its third quarter ended Dec 31, 2014 (3QFY15) plunged 57.4% to RM2.32 million from RM5.44 million in 3QFY14, mainly due to a one-off loss incurred on the disposal of its Amata Waste-to-Energy Incineration Plant in Bangkok, Thailand, that amounted to RM7.6 million.

In a filing with Bursa Malaysia today, Iris (fundamental: 0.55; valuation: 0.6) reported a 5.2% decrease in revenue to RM141.76 million in 3QFY15 from RM149.54 million in 3QFY14, mainly due to a drop in revenue of its core businesses, trusted identification and payment and transportation.

The weaker financials resulted in its earnings per share (EPS) for 3QFY15 sliding to 0.11 sen from 0.33 sen in 3QFY14.

For the nine months ended Dec 31, 2014 (9MFY15), Iris' net profit fell by 73.3% to RM5.45 million from RM20.43 million in 9MFY14, on, higher administrative and operating expenses, higher finance costs and higher cost of sales, which brought its 9MFY15 EPS to 0.27 sen from 1.23 sen in 9MFY14.

Revenue for 9MFY15 was 2.8% higher at RM426.53 million from RM414.81million in 9MFY14, mainly due to contribution from recent contracts awarded for its Rimbunan Kaseh and Sentuhan Kasih programmes from state governments and the Federal Land Development Authority (FELDA), respectively.

On prospects for the remainder of its FY15, Iris said the group's core business remains bright, as its revenue is expected to be derived mainly from the trusted identification projects, namely Malaysia e-Passport inlays, Nigeria e-Passport inlays, Tanzania e-ID cards project, Senegal ePassport project, Guinea e-Passport project and Bangladesh machine readable passports (MRP) project.

Iris shares were down 3% to 32.5sen at 3.14pm today, giving it a market capitalisation of RM673.26 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

All saudi game to control prices.Also remember once Suma 25 many r waiting to dump n run n H knows that so dont be too optimistic wait for egm which i belief may coincide with opec meeting. After opec i belief pr may shoot to 100 becoz all need money????

Kazakhstan is in bad shape other Cos' hv stopped drilling becoz expensive n hv given VSS for employees.

Goreng cannot start so fast becoz oil price not steady yet.RI formally approved by Bursa under conditions.If goreng up now, n during Egm if crude drops what happens? Just wait for d circular n 21days must be given b4 egm. To me egm may be closer to june when opec meeting is due.By that time next Q will be out.....have patience!!!!!!!

TRS is an exceptional contract which Iris n Mpay was fighting for it but Iris got it n nobody is talking about it WHY????

Ya! Can if crude price 100+++++

By increasing land bank not necessarily increase EPS! Your current yield/ha/annum is only 20mt correct me if I am wrong? Increase d yield similar to UP n KLK not only EPS will increase n share price will go above 20+++++++...best manure for d field r d mgrs footprints!!!

Sime Darby’s proposed acquisition of NBPOL to enhance EPS
Posted on February 24, 2015, Tuesday

KUCHING: Sime Darby Bhd’s (Sime Darby) proposed acquisition of New Britain Palm Oil Ltd (NBPOL), a leading producer of sustainable palm oil to expand its plantation business is poised to enhance its earnings per share (EPS) and provide new opportunities for new landbank additions.

Affin Hwang Investment Bank Bhd (Affin Hwang) yesterday said the proposed acquisition is expected to be EPS accretive in spite of the high acquisition price-earnings.

Why no talk on TRS?

Please dont be over excited, goreng may start 1 week b4 EGM.No Ri until egm.

Felda having more then a billion in reserve.FGV have to pay 15% of d profit to felda this was part of d contract b4 fgv was listed.Cash they have but top guns lacking professionalism.If felda no money d settlers will march to .............!!!!!!!

Oil market is stabilising, $60 is OK for now - Gulf OPEC delegate

By Reuters / Reuters | February 25, 2015 : 3:50 PM MYT

RIYADH (Feb 24): Oil prices have started to stabilise around current levels of $60 a barrel and demand is showing signs of improving in Asia and other regions, a senior Gulf OPEC delegate said on Tuesday.

The comments indicate that the core Gulf members of the Organization of the Petroleum Exporting Countries are showing no sign of wavering in their strategy to focus on market share rather than cutting output, despite concerns from other members about falling oil revenue.

"Oil prices seem to stabilise around the current level ... there are a lot of indications showing that demand is growing," the senior Gulf OPEC delegate told Reuters. "The market is stabilising as well as prices," the delegate said, adding that $60 a barrel is "okay for now."

Iris Corp 3Q net profit plunges 57.4% on one-off loss from Bangkok plant disposal

By Supriya Surendran / theedgemarkets.com | February 25, 2015 : 3:52 PM MYT

KUALA LUMPUR (Feb 25): Iris Corp Bhd's net profit for its third quarter ended Dec 31, 2014 (3QFY15) plunged 57.4% to RM2.32 million from RM5.44 million in 3QFY14, mainly due to a one-off loss incurred on the disposal of its Amata Waste-to-Energy Incineration Plant in Bangkok, Thailand, that amounted to RM7.6 million.

In a filing with Bursa Malaysia today, Iris (fundamental: 0.55; valuation: 0.6) reported a 5.2% decrease in revenue to RM141.76 million in 3QFY15 from RM149.54 million in 3QFY14, mainly due to a drop in revenue of its core businesses, trusted identification and payment and transportation.

The weaker financials resulted in its earnings per share (EPS) for 3QFY15 sliding to 0.11 sen from 0.33 sen in 3QFY14.

For the nine months ended Dec 31, 2014 (9MFY15), Iris' net profit fell by 73.3% to RM5.45 million from RM20.43 million in 9MFY14, on, higher administrative and operating expenses, higher finance costs and higher cost of sales, which brought its 9MFY15 EPS to 0.27 sen from 1.23 sen in 9MFY14.

Revenue for 9MFY15 was 2.8% higher at RM426.53 million from RM414.81million in 9MFY14, mainly due to contribution from recent contracts awarded for its Rimbunan Kaseh and Sentuhan Kasih programmes from state governments and the Federal Land Development Authority (FELDA), respectively.

On prospects for the remainder of its FY15, Iris said the group's core business remains bright, as its revenue is expected to be derived mainly from the trusted identification projects, namely Malaysia e-Passport inlays, Nigeria e-Passport inlays, Tanzania e-ID cards project, Senegal ePassport project, Guinea e-Passport project and Bangladesh machine readable passports (MRP) project.

Iris shares were down 3% to 32.5sen at 3.14pm today, giving it a market capitalisation of RM673.26 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

http://klse.i3investor.com/blogs/amresearch/71134.jsp

Looks like only TRS can make Iris look positive luckily got some profit???

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1883913

For fund mangers hv given only tgt of 35cts so now all depends on d coming Q n d TRS profit b4 d price is revised upwards.Those hv confident buy otherwise Quit..as simple as that!

Felda having stake in Iris so if their directors r resigning so what! Felda directors r unprofessional they never made plans for "replanting program" just look at d price of UP n KLK, all growing d same trees in d same soil/climatical conditions. Why becoz different ppl involved. I know one leading oil palm compony terminate d mangers if they r confirmed diabetic as they may not have d strength to walk in d field.Oil palm estates is labour intensive which needs intensive supervision.U know why UP not expanding outside peninsular malaysia becoz they feel d fields may suffer " lack of supervision".All they got to do is to appoint UP as their plantation advisers n throw d so callec policies out of d window.When GLC Cos' give less profit which means less tax to Govt n less bounus for staff worst foreigners only invest in high yielding dividends Cos' so what policy r we talking about.All this has nothing to do with Iris. Wait for a coming Q n decide on Iris fate...some r getting confused in this forum!!!!!!!!

Price wont drop below 21 that is d RI price?

Suma profit derived from sales done from Oct14-Dec14.

http://www.asianewsnet.net/ann_news.php?a=http://www.asianewsnet.net/Malaysias-Sumatec-Resources-finds-more-oil-in-Kaza&id=61630

With uncertainty in oil price n d politics involved n Suma need 100 for profit.Everybody in this forums knows that if H were to push d price many r going to dump n run hence price may not up.RI will go through with d present price n Fund Mgrs may buy for warrant n later dump for quick profit unless crude return to 100++++++

GST speculation for sure price going up b4 it settles.

Possible artificial push up!!!!

For sure Q may be positive but d issue when d oil pr is going up n I think Suma need 100 to make profit until they r able to sell d gas.

Felda top unproductive m'ment replaced.

ACE counter Epf still buy, using "Proxy"....good stocks fund mgrs still buy...u cannot break d law u can still bend it.

Now pr 21 somebody collecting?????

1) Bursa approved RI under conditions.2) mkt flooded wt crude by US so next 3 mths price may drop below 50). 3) Suma buying new asset so no dilition of shares.4) since Warrants attached to RI so dont expect price to spike only crude price above 80 can spike price.5) Halim got his tycoon friends to mayerialise d RI, we r just tiny fries for him.6) Anytime from now shd be receiving d circular on EGM for RI approval.7) Those who dont wish to buy d rights u still can d RI within one wk of listiing.8) Whatever it is only oil price can decide our fate n next 3mths crude pr crashing n what is US plan nobody able to predict.9) All i know H will slowly dispose his shares n hold on to W eventually.

Oil prices dip after Lunar New Year as US inventories hit record highs

Mon, 23 Feb 2015 01:37:35 GMT2015-02-23T01:37:35Z

US flodding market with crude oil n expecting for d next 3mths pr may drop below 50. If Suma moves up then only Halim can do d artificial price.Warrants attached to RI so not necessarily Suma should move from its present range 215-225.Anyway 21 days notice must be given b4 d EGM n Q result anytime will be announced!!!!!!

Complicating can anybody explain????

MULTIPLE PROPOSALS SUMATEC RESOURCES BERHAD (“SUMATEC” OR “COMPANY”) (I) PROPOSED ACQUISITION; (II) PROPOSED RIGHTS ISSUE WITH WARRANTS; (III) PROPOSED IASC; AND (IV) PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS “PROPOSALS”)

SUMATEC RESOURCES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description SUMATEC RESOURCES BERHAD (“SUMATEC” OR “COMPANY”)

(I) PROPOSED ACQUISITION;
(II) PROPOSED RIGHTS ISSUE WITH WARRANTS;
(III) PROPOSED IASC; AND
(IV) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS “PROPOSALS”)

Reference is made to the announcements dated 28 August 2014, 8 September 2014, 17 October 2014 and 9 January 2015 in relation to the Proposals. For consistency, the abbreviations used throughout this announcement are the same as those in the previous announcements.
M&A Securities on behalf of the Company wishes to announce that Bursa Securities had vide its letter dated 23 February 2015 has resolved to approve the following:-
(a) Admission to the Official List of the Main Market of Bursa Securities and the listing and quotation for up to 2,758,760,747 Rights Warrants to be issued together with the Rights Shares pursuant to the Proposed Rights Issue with Warrants;
(b) Listing of and quotation for:-
(i) 1,217,391,305 Consideration Shares to be issued pursuant to the Proposed Acquisition;
(ii) Up to 5,517,521,495 new Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;
(iii) Up to 2,758,760,747 new Sumatec Shares to be issued pursuant to the full exercise of the Rights Warrants;
(iv) Up to 118,753,197 additional Warrants-A pursuant to the Rights Adjustments;
(v) Up to 567,521,758 additional Warrants-B pursuant to the Rights Adjustments; and
(vi) Up to 686,274,955 new Sumatec Shares to be issued pursuant to the full exercise of additional Warrants-A and additional Warrants-B.
The approval granted by Bursa Securities for the Proposed Acquisition and Proposed Rights Issue with Warrants is subject to the following conditions:-
(a) Sumatec and M&A Securities must fully comply with the relevant provisions under the Main Market Listing Requirements pertaining to the implementation of the Proposed Acquisition and Proposed Rights Issue with Warrants;
(b) Sumatec and M&A Securities to inform Bursa Securities upon the completion of the Proposed Acquisition and Proposed Rights Issue with Warrants;
(c) Sumatec to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Acquisition and Proposed Rights Issue with Warrants are completed;
(d) Sumatec is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of the Rights Warrants, as at the end of each quarter together with a detailed computation of listing fees payable; and
(e) Certified true copy of the resolutions passed by the shareholders in a general meeting approving the Proposed Acquisition and Proposed Rights Issue with Warrants.
This announcement is dated 23 February 2015.

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Yes! u r right!

Tan was talking of property prospects but why not talking of TRS vs GST?????

Anybody can say anything next all depends on d coming 31 Mar 15 financial rpt and any dividend!

http://www.thestar.com.my/Business/Business-News/2015/02/21/Iris-property-gambit-It-sees-development-potential-in-countries-in-the-Pacific/?style=biz

Oil price on d rise.Next Q expected to be positive.Halim is sure of RI 21 n after June oil price goes up or world disaster.So no 18 lah bottom is 215.

http://www.themalaysianinsider.com/malaysia/article/penang-to-roll-out-transport-master-plan-in-2017

Please lah have to wait for d Q report due on 31March.