Posted by Betta68 > 2017-11-23 14:15 | Report Abuse

KUALA LUMPUR: While Wong Thean Soon of MyEG Services Bhd has exited Palette Multimedia Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png

, another known investor, Brahmal Vasudevan, has emerged in the company.

Brahmal’s emerged as a substantial shareholder with a 5.2% on Tuesday in the company that provides services to the mobile health . The stock went up by 5.5 sen the following day to close at 37 sen on a volume of 53.3 million shares. As of yesterday, Brahmal has some 20 million shares or a 5.89% stake now. 

Brahmal said that his interest in Palette was for its product as well as the earnings prospects on the medium term.

“I expect it will take time for the company to yield full potential and one would need to be patient over the medium term. But the early signs are good and if the company continues to deliver, it could get rerated in the process,” Brahmal told StarBiz.

Brahmal is the founder and chief executive officer of private equity firm Creador Sdn Bhd and is known for his investments in companies whose business model is driven by the need to meet consumer demand whether through technology or other ways such as retail and food outlets.

Shares in Palette have been in the spotlight since Brahmal and other investors such as Wong first took an interest in the company back in August. Palette was only trading at six sen in the beginning of the year. Since the emergence of new investors, the stock has had a new lease of life, touching its high of 52 sen earlier this month.

Sentiments on Palette however dampened when Wong, better knowns as TS Wong, announced his exit from the stock and other investments, stating that he was merely a passive investor. Wong made public his announcement after some stocks where he held small investments ran ahead of fundamentals on speculation of a corporate exercise.

During Palette’s price weakness last week, Brahmal said that he took the opportunity to up his stake.

For the first quarter to Aug 31, 2017, Palette staged a turnaround, recording a net profit of RM3.03mil on the back of RM7.84mil in revenue. This was from a previous loss of RM516,000 on the back of RM222,000 in revenue.

If Palette’s earnings were to be sustained, this could potentially work out to RM12mil a year, which would mean a price earnings ratio (PER) of 10.2 times at its current price of 36 sen.

This sector valuation is between 15x to 20 times, depending on the growth and sustainable of the individual companies.

Meanwhile, Eg Kah Yee, the chairman of Palette, said that his priority now is to continue building and expanding the business and leave it to the capital markets to play its role.

“We welcome and appreciate all types of investors. Long-term investors provide price stability, while short-term investors add to the liquidity and both are needed.

“Brahmal visited us a couple of times to understand the business in greater detail and had expressed that he is a passive but professional investor,” said Eg. 

Since March this year, Palette has been announcing a series of hardware platform sales to Trade House Atlantis Ltd. This company is associated with RKSS Group, one of the largest telecommunications system equipment developers and integrators in Russia.

While the contracts are for Internet of things platforms, they come with various cloud application softwares, including mobile health cloud and network access management.

For the month of October alone, Palette continued to win more Russian hardware contracts totalling RM7mil. To date, Palette has won a total of RM40mil worth of contracts.

 

TAGS / KEYWORDS:Corporate News


Read more at https://www.thestar.com.my/business/business-news/2017/11/23/why-brahmal-bought-into-palette/#rDIItClupqtMh3TU.99

Posted by Orange88 > 2017-11-23 14:48 | Report Abuse

Thanks Betta 68 much appreciated, you are very cool. Meantime.....

Posted by Orange88 > 2017-11-23 14:49 | Report Abuse

Waterfall coming ! Tsunami Warning, Ikan Bilis Warning, Cut and run Get Out now ! You see all parties can be well pleased.

Posted by Krystal Lee > 2017-11-23 14:49 | Report Abuse

alex foo : http://www.rsbctrade.com/eighth-session-of-the-russia-singapore-high-level-intergovernmental-commission/

Posted by Orange88 > 2017-11-23 14:50 | Report Abuse

HLT Moving. up... i got in 51 sen kikekeke HLT is my escape chicken exit because Palette hancur oredi bukan kikekeiekke

Posted by Orange88 > 2017-11-23 14:52 | Report Abuse

Thanks Krystal wah really exist - palette i medic i though Mr Eg and Brahmal are just a bunch of con men with their con jobs........

Posted by Orange88 > 2017-11-23 14:54 | Report Abuse

wah 355 sen also cannot tahan no hope, keep selling, Not profit taking but just hanging onto your pants, get out get out

Posted by Surge > 2017-11-23 14:54 | Report Abuse

Profit taking & exist for good

Posted by Krystal Lee > 2017-11-23 14:55 | Report Abuse

np guys :) just sharing - happy investing all - think you gotta google more on unitedcresthealth care to get more information. quite alot of articles

Posted by Orange88 > 2017-11-23 15:06 | Report Abuse

price dropping none stop ... No wonder..... Orange no longer holding up price.... hand over
baton to ... TS Wong..........

Posted by Mohd Fahmi Bin Jaes > 2017-11-23 15:06 | Report Abuse

0005 PALETTE, PALETTE MULTIMEDIA BHD \ - \ + \
Additional Listing Announcement
23 Nov 2017, 11:03
Additional Listing Announcement
1. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : Exercise of Warrants
Details of corporate proposal : Conversion of warrant to ordinary shares
No. of shares issued under this corporate proposal : 650,000
Issue price per share ($$) : 0.0400
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 340,416,900
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 13,616,676.000
Listing Date : 24/11/2017
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

Posted by Orange88 > 2017-11-23 15:10 | Report Abuse

Krystal lee you are a real sophisticated and rationale investor. If more people like you Ace counters would be like Nasdaq and Russell 200 oredi -prices in Ace will be like Tsla, Twitter, Facebook, etc,etc.
Unfortunately vast majority treat Ace like a cheap making out motel. Just check in 2 mintues ago mahu untung & climax 1 litre already.

Posted by csl1991 > 2017-11-23 15:13 | Report Abuse

Thanks Betta68 and Krystal Lee

Posted by rr88 > 2017-11-23 15:16 |

Post removed.Why?

Posted by Orange88 > 2017-11-23 15:16 | Report Abuse

Krystal Lee a real classy n sophisticated investor Too bad most not like her. Treat Ace as a cheap motel for making out. Check in 2 minutes mahu climax 2 litre sudah. If more investors like Krystal, Ace market can be like Russell 200, Nasdaq with Twitter, Facebook, Tesla, Netflix....

Posted by yozepo > 2017-11-23 15:17 | Report Abuse

what gonna happened after the additional listing tomorrow? can somebody explain

Posted by Orange88 > 2017-11-23 15:20 | Report Abuse

Like REV MALAYSIA owned by P Grove of Iflix....
Come on Patrick Grove, Netflix already USD 200 and market cap USD 90 Bl. You have no shame ?

Posted by Orange88 > 2017-11-23 15:20 | Report Abuse

Yozepo please read the blogs, we are all liquidating down back to 10 sen for a very happy xmas / new year....

Posted by Krystal Lee > 2017-11-23 15:21 | Report Abuse

tbh am just blessed that I had a mentor to train me- usually don't comment much but it seems necessary to not let the new gullible investors to be fooled by the creation of fear and panic for nothing.

Posted by Orange88 > 2017-11-23 15:23 | Report Abuse

rr88, i have been infected by the negative pessimissim in all this blog.....
I sailang to you at 37 sen you forgot oredi. You hold and keep until I Medic product become a success in Russia and China OK ? Good boy rr...

Posted by Orange88 > 2017-11-23 15:23 | Report Abuse

Another cheap motel kaki....

Posted by wops > 2017-11-23 15:35 | Report Abuse

means the price wont go up but will be dropping

Posted by wops > 2017-11-23 15:45 | Report Abuse

dont know will broke the 0.33 or not

Posted by wops > 2017-11-23 15:49 | Report Abuse

start the journey to holand dy

Posted by stncws > 2017-11-23 15:50 | Report Abuse

LATER MONTH END , BLACK SKIN SAYS SOLD ALL @@@

PALATTE BACK TO 8C

Posted by wops > 2017-11-23 15:51 | Report Abuse

after break 0.34 the following will be very fast dropping, cos the buyer not much

Posted by Orange88 > 2017-11-23 15:57 | Report Abuse

Start celebrating 34 sen done oredi more low more low

Posted by cybergreen > 2017-11-23 16:01 | Report Abuse

gogoogo.... press down pls

Posted by klck23 > 2017-11-23 16:02 | Report Abuse

ok LAi Lai Lai

Posted by pretty_life > 2017-11-23 16:04 | Report Abuse

Finish T4 clear...rebound in after 10minute ...

Posted by investorwannabe > 2017-11-23 16:08 | Report Abuse

bloody hell... this counter is not for the faint hearted

Posted by cybergreen > 2017-11-23 16:11 | Report Abuse

roller coaster. always buy high sell down....

Posted by hafizanms > 2017-11-23 16:21 | Report Abuse

look someone 'dengki' with this counter..

Posted by Betta68 > 2017-11-23 16:21 | Report Abuse

Orange88, you are the moll,,stop your fantazy, because i know you are holding the key to move the share up or down, it does not take much brain to do so,,be careful, all can turn against you one day,,

Posted by WM Niaga > 2017-11-23 16:23 | Report Abuse

tomolo 40sen??

Posted by Betta68 > 2017-11-23 16:27 | Report Abuse

New major share holder / investor will join Palette tomorrow,,

Posted by investorwannabe > 2017-11-23 16:28 | Report Abuse

@Betta68, stop speculating la

Posted by Betta68 > 2017-11-23 16:30 | Report Abuse

Show in 5 minutes...up to you buy or sell,,

Posted by IronShirt > 2017-11-23 16:39 | Report Abuse

if today ends at 0.335 ( lowest today)___should take Note tomolo bcos It is Friday

Posted by wops > 2017-11-23 16:44 | Report Abuse

normally friday use to drop

Posted by wops > 2017-11-23 16:55 | Report Abuse

closed at 0.34

Posted by Sky Soo > 2017-11-23 16:57 | Report Abuse

Closed at .34. Big black candle. Tomorrow, most probably it will continue to drop, perhaps to .32 to close the gap. Hopefully, it rebound.

Posted by moneypedia > 2017-11-23 17:37 | Report Abuse

brahmal....brahmal.....

Posted by MAESTROz > 2017-11-23 17:50 | Report Abuse

drWA the new Warren Buffett..pergi mana jatuh mana

Posted by nimmal > 2017-11-23 18:30 | Report Abuse

Drop drop drop run run run

Posted by Wuzy > 2017-11-23 18:32 | Report Abuse

all out all out, retreat or get trap

Posted by MAESTROz > 2017-11-23 19:00 | Report Abuse

drwa will keep on ATTACKKKKKKKKKkKkkkkkkk

Posted by MAESTROz > 2017-11-23 19:01 | Report Abuse

not sure why this sohai considered himself a doctor

Posted by MAESTROz > 2017-11-23 19:01 | Report Abuse

the biggest mystery of KLSE

Posted by Imformed > 2017-11-23 19:04 | Report Abuse

orange just a kecik mia here. he kena storm one time dropping from 0.50 to 0.390 by that time he sold all and now he a bit smart because he kena one time already. non of the people who making price drop or up will comment here, because their hand are busy to key in buy or sell.