Posted by How Wen Sheng > 2020-07-09 09:47 | Report Abuse

any outcome for the agm?

Posted by wickedlion > 2020-07-09 10:22 | Report Abuse

AGM 10am

Posted by zoro21 > 2020-07-09 10:56 | Report Abuse

Any info?

Posted by tmathi > 2020-07-09 11:44 | Report Abuse

Up a bit :-)

Posted by Live2Win > 2020-07-09 12:30 | Report Abuse

Fire not strong...so the goreng also not intense this morning

Posted by Teoh Boon Leong > 2020-07-09 13:56 | Report Abuse

Scomnet AGM completed,medical cables business now more than 50% n very little competition,future is bright....

Posted by Teoh Boon Leong > 2020-07-09 13:58 | Report Abuse

Company will concentrate on medical cable production into high end area like ICU usage to prevent blood clot...

Posted by Teoh Boon Leong > 2020-07-09 14:00 | Report Abuse

Company will look into expansion of building into 4 storey one to cater for increasing medical cables production

Posted by wesley_gold > 2020-07-09 14:40 | Report Abuse

how about the automotive cable? as this segment still comprise more than 50% of revenue right

Posted by Teoh Boon Leong > 2020-07-09 15:02 | Report Abuse

Automotive cables still in good production and tap into automation demand by car manufacturers like Proton n Perodua

Posted by monique1968 > 2020-07-09 15:06 | Report Abuse

be patience coming.

Posted by dollardollarbill > 2020-07-09 16:22 | Report Abuse

They said about main market transfer too

Posted by monique1968 > 2020-07-09 16:51 | Report Abuse

Positive move

Posted by bigearl > 2020-07-09 18:18 | Report Abuse

Will the price go up if it really go to main market?

Posted by dollardollarbill > 2020-07-09 19:33 | Report Abuse

Certain unit trust funds have an investment mandate which doesn't allow them to buy Ace mkt stocks.

Posted by dollardollarbill > 2020-07-09 19:34 | Report Abuse

Some funds even have mandate that can't buy stocks below RM100m market cap.

Posted by dollardollarbill > 2020-07-09 19:46 | Report Abuse

Some funds have mandate syariah stocks only. Like when Pentamaster became syariah again, the stock jumped on the day itself.

Check out my previous blog post on Penta:
https://klse.i3investor.com/blogs/dollardollarbill/2020-05-20-story-h1507749134-Pentamaster_Shariah_funds_ready_to_pounce_bill.jsp

Posted by bigearl > 2020-07-09 20:54 | Report Abuse

I think they should be able to qualify for main market now right? Just have to see their earnings? Wonder when will that take place.

Posted by Live2Win > 2020-07-09 20:58 | Report Abuse

i believe very soon. it is a very good company with ++quarters for the past 2 yrs

Posted by bigearl > 2020-07-10 12:22 | Report Abuse

Scomnet got press release today

Posted by bigearl > 2020-07-10 12:23 | Report Abuse

KUALA LUMPUR, 10 JULY 2020 – Supercomnet Technologies Berhad (“Scomnet” or the “Company”), an ACE Market-listed company which is principally involved in manufacturing and assembling quality wires and cables for various segments such as medical devices, electronic appliances, consumer electronics and automotive, is pleased to announce that its latest cathether for cardiovascular use has been approved and is now listed on the US Food & Drug Administration (FDA) website.
The product ‘D*Clot HD Rotational Thrombectomy Catheter’ is classified as a catheter or embolectomy on the FDA website. It is registered under Scomnet’s fully-owned subsidiary Supercomal Medical Products Sdn Bhd, which principal activities involve the manufacturing and sub-assembly of cables for the medical device market.
Scomnet said that the FDA approval means that the Company can now start manufacturing the catheter for its client, which is Denmark-based company. The client is the exclusive distributor for several world-leading producers of medical devices. Its global sales force works out of 10 sales offices in Europe, USA and Asia, supplying medical devices to hospitals and other end-users.
“The latest development is in line with our Company’s push to expand into new markets and acquire new clients as we diversify our corporate footprint globally. At the same time, we also strive to solidify our position in our current markets, making us one of the leading OEM automotive cable and medical device players,” Scomnet said.
In FY2019, Scomnet’s revenue reached an all-time-high of RM122.97 milion, representing a strong increase of 39.28% year-on-year (“y-o-y”). Its net profit also touched a new record high, increasing almost 74% y-o-y to RM19.38 million. The major increase in turnover and profits was contributed by the increasing sales form existing customers of subsidiaries.
It is worth noting that several key products of SMP are utilised in critical medical devices that are needed in the treatment of COVID-19 patients. Among the critical medical devices are disposable bronchoscopes, which are used in the first line of lung treatment for patients with suspected or confirmed COVID-19 infections, and the critical care monitoring cable that is presently being used for COVID-19 patients in the Intensive Care Unit.
Supercomnet Technologies Berhad and its group of Companies is a leading and trusted partner in the provision of advanced high technology cables for the IT sector and OEM medical cables assemblies. Its manufacturing operations are located in Sungai Petani, Kedah.

Posted by wickedlion > 2020-07-10 13:01 | Report Abuse

afternoon gap up

Posted by CoolJay > 2020-07-10 13:23 | Report Abuse

They got green light from US FDA!! wohoo

Posted by bigearl > 2020-07-10 13:39 | Report Abuse

Can explain to me whats good about this?

Posted by dollardollarbill > 2020-07-10 14:08 | Report Abuse

https://youtu.be/LnWmYma-pyk

Posted by aMilli > 2020-07-10 14:15 | Report Abuse

Great news!! More to come??

Posted by joelim17 > 2020-07-10 14:18 | Report Abuse

Scomnet in collaboration with Mermaid Medical (Denmark) highlighted to investors during AGM:

D-Clot HD Thrombectomy System

https://youtu.be/LnWmYma-pyk

https://www.mermaidmedical.dk/usa/vascular-intervention/

The MD James shared above innovation product completely produced by Scomnet and can save lives in heart complication patient through minor surgery.

All board member presents during AGM and patiently explained to investors in-order to get know more about the company prospects and long term business plan:

SMP
- long-term contract with Edwards & Ambu is evergreen;
- shared 2-3 new products (customer R&D stage) in the pipeline e.g brain-intrvention, aesthestic etc.
- CAPEX 4 story building expansion of existing plant (estimated completion after 1 year);
- automation of machinery to cater high demand of existing customers (normally share costs with Edwards);
- E.g. order 30-40% increased with higher margin for Y2020 new order ( machine running 2 shifts now) ; plus demand increasing annually by Edwards Y2021 10-15% increase demand for DPT etc.

- attracts new talents from oversea. However,no shortage of labour, but need to tackle labour costs increased due to high order demand (will compress profit margin) for manual processes;


STB/SAC
-existing customer are local car manufacturers e.g. Proton & Preodua
-R&D for solid & weight lighter automotive cable with more environmental ( to comply international standard)
-long term view will transfer to main board for listing when ready.

Posted by CoolJay > 2020-07-10 14:26 | Report Abuse

will gap up later. close above rm 1.3

Posted by Live2Win > 2020-07-10 14:27 | Report Abuse

finally goreng liaw

Posted by ijanto > 2020-07-10 14:32 | Report Abuse

what

Posted by mf > 2020-07-10 14:32 |

Post removed.Why?

Posted by lazycat > 2020-07-10 14:35 | Report Abuse

suddenly jump from 1.23 to 1.4? .... someone key in wrong numbers?

Posted by wesley_gold > 2020-07-10 14:37 | Report Abuse

What happen

Posted by Gooner82 > 2020-07-10 14:40 | Report Abuse

Limit up again?

Posted by wesley_gold > 2020-07-10 14:41 | Report Abuse

??? why so sudden

Posted by tmathi > 2020-07-10 14:42 | Report Abuse

News on FDA approval

Posted by aMilli > 2020-07-10 14:42 | Report Abuse

buy buy buy... limit up today??

Posted by ijanto > 2020-07-10 14:43 | Report Abuse

covid play

Posted by Live2Win > 2020-07-10 14:45 | Report Abuse

no worries...with official news coming out...there will not be any UMA from bursa>>>free to goreng now

Posted by tmathi > 2020-07-10 14:52 | Report Abuse

Losing steam..push push push !

Posted by mf > 2020-07-10 14:53 |

Post removed.Why?

Posted by mf > 2020-07-10 14:54 |

Post removed.Why?

Posted by wesley_gold > 2020-07-10 14:56 | Report Abuse

https://www.theedgemarkets.com/article/supercomnets-latest-product-gets-green-light-us-fda

Posted by wesley_gold > 2020-07-10 14:56 | Report Abuse

found it thanks guys

Posted by mf > 2020-07-10 14:56 |

Post removed.Why?

Posted by LiimInvest > 2020-07-10 15:02 | Report Abuse

Wow

Posted by bigearl > 2020-07-10 15:03 | Report Abuse

Main market lorr wei !

Posted by Cloud Ws > 2020-07-10 15:03 | Report Abuse

gg

Posted by mf > 2020-07-10 15:08 |

Post removed.Why?

Posted by edwardkuah > 2020-07-10 15:17 | Report Abuse

rakuten TP 1.6++