Earnings is diluted yes, because it has got nothing to do with how much a company is worth. Earnings is simply way of telling you how much a company earns in a particular reporting period eg Quarterly report and annual reports. Tan, do you know EPS or earnings per share? It is the company's net profit divided by the NUMBER OF SHARES NOT divided by the par value of paid up shares in the company. So when you read 7 sen EPS it means net profit divided by the number of paid up shares. Therefore whether UOA or genting which par values are 5 sen and genting par value 10 sen, its earnings is still 7 sen of net profits per SHARE irrespective of par value.

shhhhh... gal friday is here.

Tan, I am surprised you seems to be bought so much shares and still struggling to understand par value.

I faced the same problem, a lot of dunggu company secretaries/legal officers dont even bother to state par value in their announcements of dividend payments. So be careful when dividends are announced in "xx% per share" because you need to multiply by the par value to arrive at the absolute rm and sen per shares of dividends.

If it is declared as "xx sen per share" then it is absolute meaning you receive the same amount of dividends per share irrespective of par value.

Tan,
Posted by Tan Kian Wei > Dec 28, 2012 02:56 PM | Report Abuse

when the par value will be change? right issue? split? bonus share?

will company issue new share when the warrant holder convert warrant to share? and will this exercise affect the par value?
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Take par value as if you started a biz with say RM 10k even though the authorised capital might be RM200,000, so RM190,000 is unissued or not yet paid up. So u decided to par the value of each paid up shares at RM1-00 per share which gives you 10,000 shares. So that small amounts of shares can be distributed or sold.

Now if the biz has a good value, increase ten times, the value of your shares is now worth RM10 each, now your total share holdings is worth RM100,000.

To improve liquidity of your shares, you now split by changing par to 50 sen by creating or issue another 10,000 paid up shares to make up 20,000 shares. So technically your shares is now worth RM5 each but your holdings increase 2 times, it 20,000 shares. Net worth still remain the same.

At the same time, you give bonus shares by increasing your share capital base, there is no change in net worth of your company but now your share holdings increase even more at 50 sen par. But where did we get money to pay up the increase in shares? We take it from "distributable" reserves and retained earnings or operating profits not distributed by way of dividends. There are laws in the company act and other governing instruments to define what is distributable.

I must warn you I am quite outdated now.

For rights issue, there is also no change in par value but because shareholders who subscribe to rights give the company money to subscribe more shares, there is a corresponding increase in net worth but adjusted by the additional amounts of the shares issued (or paid up capital) in the company. For rights issues to be attractive, it has to be reasonably priced.

Yes company will issue new shares to warrant holders as company undertook to give new shares if you are able to pay what is required in the deed poll.

No this exercise will not affect par value.

Ooi, my bad, yes exercise price with the adjusted or conversion ratios will be adjusted for loan instruments

kcchong, off hand, there would not be any adjustments in most of the deed poll as was the good ole days.

errr ... this is distribution of treasury shares.
If bonus/ split is due, I would be keen. do you have any numbers to crunch?

I miss out this one during the subprime 2008. It was doing at 8.80 - 9.20 at time of my entry into the market because many others then was dirt cheap.

2009?, guanteik

Ooi, Kc,

Yep the gap for skpres-w is a bit too big.
If it has corrected 50%, change mindset, buy for trading?

kamal, kenapa long term? Div yield ke?

shrekk, Is ali kadir still the boss there?

uncle kcchong, when your sheep are back to their pens this evening, go read this one. Interesting. Be forewarned I dont have a single shares in this one as of now

shrekk, scicom's biz is indeed interesting.
I did monitor this one in 2010-11.
Are u able to share here in brief?

aunloke, is there anything that meets the eye, these 2 days

MGO, mati lah

I have deleted my comments dateline 11.53am this morning.

Boss welcome to the club

.

aunloke, point taken.
I am actually looking at Marco mother shares as a seasonal counter.
The fat lady sings once or twice a year.
How the warrants move when the song is sung, remains to be seen but we have until 2014 to see if the M.O. in fitters is repeated here.

Mind you, dividend payments has been consistent.

Thanks for the reminder and words of caution. kcchongnz likes to take gambles la. Lately Ooi Teik Bee seems to tell me if takes big gamble.

Posted by aunloke > Dec 25, 2012 06:23 PM | Report Abuse

Tony, Kcchongnz, Marco outstanding warrants is huge, about 352M shares, be careful it may suffer the same fate as Fitter as it is in-money.

Hmmnn... interesting.

Ada joget dan ronggeng ke?

Marco wa
Current price RM0.045
Exercise price RM0.10
Mother price RM0.145

Premium 0%
Expiry date 26/5/2014

Cheap pennies... Marco?
Its warrants is in the money
dividend paying

Cheap pennies... Marco?
Its warrants is in the money

AL833... Whats your views on Inari. My reservations are the directors connected to Insas. One name also elected to board of Icap

Oooppss wrong thread.
I did read your latest.
Thanks again.
Dude you are one fine gentleman. Very passionate.

Neil armstrong. ... Apollo

Kcchong, I thought they were the first few to have the silent piling system or whatever you call it. No?

Merry xmas to you mate.

I am optimistic

Did the kim chi fella mention about forecast results for coming reporting qtr

same person laughing

puss...y

Jumbo, ko ni jaguh bandar tau jaguh binatang

Posted by jumbo > Dec 20, 2012 03:38 PM | Report Abuse

So now you only here whack whack and run...puss ?


davesingh ... puss in boots

--------------------------

Familiar?

Jumbo, i am here. Come give me your best shot.

pathew, they have 7 days or 7 market days to complete the conversion counting from 14th dec

littleshark, on the dot, right?
Are you also small fish?

LOL

.

got one more... ka ne BO

wake up guys, mumbo jumbo limbo

some 2nd liner sudah jalan, come back here later

... and realised there was indeed a small group of kiddy league here to borrow the words of kcloh

Jumbo, i already sun tzu-ing shortly after coming to i3

Sent: Thursday, December 20, 2012 9:24 AM Subject: Fw: 2012 — The year of bank fraud

Counterparties: 2012 — The year of bank fraud

By Ben Walsh

December 19, 2012

It’s been a relatively decent year for financial stocks: they’ve had their best performance since 2003. It’s truly been a boom year, though, in investigations, lawsuits, fines, and settlements at the world’s biggest and most important banks. There are 28 banks on the FSB’s list of systemically important financial institutions, and as Felix writes, “pretty much the whole financial sector is still trading at less than book value”.

What follows is a list of notable accusations, admissions and settlements in 2012 alone. (It’s long, so just scroll down if you just want the links):

Bank of America: the US Justice Department is seeking $1 billion in fines for troubled loans sold to Fannie and Freddie; MBIA’s lawsuit against Countrywide, which was disastrously acquired by BofA, rolls on; BofA is one of five banks participating in the $25 billion national mortgage settlement. (Price to book: 0.56, here and throughout via Yahoo Finance)

Bank of China: the families of Israeli students killed in a 2008 terrorist attack are suing the BOC for $1 billion “intentionally and recklessly” handling money for terrorist groups.

Bank of New York Mellon: a subsidiary paid $210 million to settle claims it advised clients to invest in Bernie Madoff’s ponzi scheme; the DOJ continues to investigate possible overcharges for currency trades that it says generated $1.5 billion in revenue. (Price to book: 0.86)

Barclays: $450 million settlement in the Libor scandal; also fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.72)

BBVA: settled overdraft suit for $11.5 million. (Price to book: 0.83)

Citigroup: settled CDO lawsuit for $590 million; one of five banks participating in the $25 billion national mortgage settlement; paid $158 million to settle charges it “defaulted the government into insuring” risky mortgages. (Price to book: 0.62)

Credit Suisse: sued by NY state for allegedly deceiving investor in the sale of MBS. (Price to book: 0.85)

Deutsche Bank: settled a DOJ mortgage suit for $202 million; FHFA fraud case is ongoing. (Price to book: 0.56)

Goldman Sachs: FHFA fraud case is ongoing; after a ruling by federal appeals court, a class action lawsuit over MBS will go forward. (Price to book: 0.91)

Crédit Agricole: sued by CDO investors two times. (Price to book: 0.35)

HSBC: settled money laundering charges for $1.9 billion; set aside $1 billion for future settlements related to mis-selling loan insurance and interest rate hedges in the UK; Libor settlement still to be reached. (Price to book: 1.17)

ING: settled charges that it violated sanctions against Iran, Cuba, etc. for $619 million. (Price to book: 0.5)

JP Morgan Chase: being sued by NY state for MBS issued by Bear Stearns; class action lawsuit and criminal probe over failed derivatives trades in its Chief Investment Office; one of five banks participating in the $25 billion national mortgage settlement. (Price to book:0.87)

Mitsubishi UFJ: paid an $8.6 million fine for violating US sanctions on Iran, Sudan, Myanmar and Cuba. (Price to book: 0.54)

Morgan Stanley: fined $5 million for improper investment banking influence over research during Facebook’s IPO. (Price to book: 0.63)

Royal Bank of Scotland: $5.37 billion shareholder lawsuit related to 2008 rights issuance; set aside $650 million to cover claims it mis-sold payment protection products; also fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.28)

Santander: fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.77)

Société Générale: rogue trader Jerome Kerviel loses appeal his appeal 3-year sentence for trades that generated $6.5 billion in losses. (Price to book: 0.45)

Standard Chartered: $340 million fine paid to NY state department of financial services for allegedly hiding the identity of customers in transactions with Iran and drug cartels; $327 million paid to the Federal Reserve and US Treasury’s anti-money laundering unit.

State Street: fined $5 million for lack of CDO disclosure. (Price to book: 1.09)

UBS: $1.5 billion Libor fine and two traders criminally charged; rogue trader responsible for $2.3 billion loss found guilty of false accounting. (Price to book: 1.12)

Wells Fargo: Federal lawsuit over mortgage foreclosure practices ongoing; paid $175 million over mortgage bias claims; one of five banks participating in the $25 billion national mortgage settlement. (Price to book: 1.29) — Ben Walsh

ok. lets start.

- - - B O

l i m B O

kekekekke

logging out, kekekeke

Waaa,, singh, name me the place in sydney wth the highest population of sikhs living there?

Dont tell me you are celup singh?

Still laughing,

Singh, Jumbo, come back tonight


kekekekeke

Cherios

Jumbo, kekekkekekke.
Kcloh also said he got 2 coconuts.

OkOkok,

Singh, I am out of the room. Got wedding dinner.

KEkekekeekeke

Dumbo, oooppps.
Singh says I am jumbo, momba, bubur chacha, pordah

Singh buy some second liners by tomorrow. Dont buy kfima yet