Posted by Lukesharewalker > 2020-07-16 12:16 | Report Abuse

You think bursa will allow 13.6 billion shares increased just like that?

Posted by Lukesharewalker > 2020-07-16 12:33 | Report Abuse

Nothing concrete yet. Just a HOA agreement. Why not an actual contract? Dont know if can win contract or not?

Posted by High5 > 2020-07-16 12:43 | Report Abuse

A bit concrete wt this news announced

Posted by High5 > 2020-07-16 12:44 | Report Abuse

Hopefully wil fly up to limit up

Posted by pang72 > 2020-07-16 12:47 | Report Abuse

There need to listed to fund the project 1.5B

Posted by High5 > 2020-07-16 12:47 | Report Abuse

By theedgemarkets.com | 2020-07-16 11:36:48
KUALA LUMPUR (July 16): S5 Holdings Inc, a company that provides integrated security IT solutions to governments, is seeking a backdoor listing via Ancom Logistics Bhd (ALB).

In a bourse filing, ALB announced its proposed takeover of S5 Holdings from the latter's existing shareholders, namely S7 Holdings Sdn Bhd, Merrington Assets Ltd, MY EG Cpaital Sdn Bhd and Avocat Sdn Bhd at a price to be determined later after an independent valuation is done.

ALB has entered into heads of agreement with the four shareholders of S5 Holdings.

The shareholders of S7 Holdings are Syed Mohamad Hafiz Syed Razlan, Kamarul Baharin Ghazali and Jennie Tan Jen Yih.

For Merrington Assets, the shareholders include Vent Millions Sdn Bhd and Barolagun Sdn Bhd.

Meanwhile, Avocat's shareholder is Lim Beng Guan.

The acquisition will be settled in the form of shares. The vendors will launch a mandatory general offer for the shares not owned in ALB upon fulfilling all conditions for S5 Holdings to be listed.

Subsequently, the company will undertake private placement of new shares, which is believed to be a move to address its public shareholding spread to meet the listing requirement.


The announcement confirms the news reports by theedgemarkets.com titled Ancom group to restructure, see entry of immigration tech company S5.

Posted by bignate2019 > 2020-07-16 12:47 | Report Abuse

Before listing S5, there will be MGO to AMCOMLB shareholders. Then will undertake private placement.

Logically speaking, if not win the contract, why want to fo RTO if just based on current business of S5? By the way ultimate major shareholder of S5 is YM Syed Mohammad Hafiz Syed Razlan. His father is younger brother of Raja Perlis, who was former Arau MP and he joined Bersatu from UMNO

Posted by High5 > 2020-07-16 12:54 | Report Abuse

Yes agreed why go thru all the trouble if not a done deal..
No easy to just suspend trading of all 3 counters...Is not for fun

Posted by High5 > 2020-07-16 12:54 | Report Abuse

KUALA LUMPUR (July 16): MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has announced that it will be disposing of its 10% stake in S5 Holdings Inc to Ancom Logistics Bhd today, a mere five weeks after announcing its plans to purchase equity in the national security solution provider.

In a filing with Bursa Malaysia, MyEG said its subsidiary and other vendors S7 Holdings Sdn Bhd, Merrington Assets Ltd (MAL) and Avocat Sdn Bhd had entered into a heads of agreement with Ancom Logistics and its parent Ancom Bhd to undertake a reverse takeover (RTO) of S5. 

S5 has three subsidiaries, one of which is involved in the provision of national security solutions.

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The RTO entails the proposed acquisition by Ancom Logistics of S5’s entire share capital from the four vendors at a price to be agreed upon by the parties involved, subject to a valuation report by an independent party.

Ancom Logistics will fulfil the purchase by issuing new ordinary shares to the vendors at 10 sen apiece.

The vendors will then make a mandatory general offer for all of Ancom Logistics shares that they do not already own, and offer some of the new ordinary shares for sale to independent third-party investors.

MyEG said the proposed RTO provides an avenue to unlock its initial investment — of RM90 million for a 10% stake in S5, thus roughly valuing the company at a whopping RM900 million — as the latter would be listed on the ACE Market and gain access to public markets, boost its standing, and enhance its value through better liquidity and prospective interest from more investors.

The announcement confirms an exclusive report by theedgemarkets.com yesterday about the restructuring of Ancom’s group of companies and its acqusition of S5.

As at 11.08am, MyEG was up three sen or 2.07% at RM1.48, valuing the company at RM5.13 billion.

Posted by OrlandoGlove > 2020-07-16 12:54 |

Post removed.Why?

Posted by High5 > 2020-07-16 12:56 | Report Abuse

So this addtional pc of news wil quash all doubt on Ancom Logistic Back Door Listing.

Posted by High5 > 2020-07-16 13:05 | Report Abuse

It involved so many parties all bcos of what?? RM1.5BILLION CONTRACT...Thats the BIGGEST LUCRATIVE ATTRACTION

Posted by High5 > 2020-07-16 13:06 | Report Abuse

In long run how much does this new co worth???

Posted by Pershing > 2020-07-16 13:16 | Report Abuse

High5, I reckon anything 2-3B. Just look at Dsonic already 1.4B with similar profitability. With additional niis 1.5B and other new govt biz, you can guess.

Posted by OrlandoGlove > 2020-07-16 13:25 | Report Abuse

Yes market cap RM 1,360,000,000 so how many Ancom Logistics needs to issue?

Ancom Logistics as at now shd not go up at all since it is valued at RM 0.10

Posted by OrlandoGlove > 2020-07-16 13:26 | Report Abuse

Whether wil go up in future all depends on if can win THAT project

Posted by Riaz1954 > 2020-07-16 13:27 | Report Abuse

Well more financial engineering create transactions lift share price with insider dealing. Seems to be the modus operandi....however no real wealth being created. Most of these entities are investment holding, no real expertise in anything!

Posted by Albukhary > 2020-07-16 13:30 | Report Abuse

Market Cap 1,360,000,000

Ancom Logistics valued at 0.10

Need to issue 13,600,000,000 shares

Announcement already said it will be value at RM0.10 per share.
If you now continue buying at RM0.30, mean yourself value S5 System at RM4,800,000,000

RM4.8b for a company PAT RM68mil, your are paying the price at 60 times PE. Mean, if this company continue earn RM68mil per year, you need 60 years to breakeven

Posted by FutureGains > 2020-07-16 13:34 | Report Abuse

buying 30c is ok for future gain.
use 30 70 fund to buy.. sure win

Posted by High5 > 2020-07-16 13:42 | Report Abuse

THE reverse takeover (RTO) of Ancom Logistics Bhd (ALB) by S7 Holdings Sdn Bhd is a positive move for Ancom Bhd, making it part of a bigger group.

“Ancom was selling ALB’s assets to Nylex (Malaysia) Bhd, which would allow it to streamline its operations by making logistics in-house, and Ancom would be able to reduce its debt to Nylex at the same time,” said a source close to Ancom management.

Nylex made up 50% of ALB’s business, according to the source.

At the same time, after selling ALB’s assets, Ancom needed to find an asset to inject into ALB, as it would have become a shell company.

“S7 came with the offer to RTO for S5, one of its holdings of which it owns about 70%, and this was timely, saving Ancom the time looking for an asset to inject into ALB,” said the source.

It was also explained that, even after dilution, Ancom would own about 5% of S5 Holdings Inc, a frontrunner of the National Integrated Immigration System contract (NIIS) worth RM1.5 bil. This would also raise Ancom’s value from owning a stake “in a RM900 mil company, according to MyEG Services Bhd’s deal.” For context, MyEG had paid RM90 mil for a 10% stake in S5.

“ALB went from a break-even ACE Market counter to issuing at 10 sen at a 473 million share base, and is being sold at RM47 mil. Discounting the net asset per share of 5 sen, ALB is being sold at a 5 sen premium, for RM24 mil. This is a very good price for a shell,” said the source.

Although there were also concerns raised about political motivations behind the deal, the source pointed out that this was merely a matter of timing.

“The S5 deal is merely timely, and S5 is also looking to conclude an RTO quickly, having been delayed by the ConnectCounty Holdings Bhd attempt,” said the source, noting that the current deal with ALB was not the same as the verbal agreement between S5 and ConnectCounty, due to a heads of agreement having been signed.

“The tender for the NIIS is a bonus, and as a minority shareholder, we would view it as good news should it be awarded to S5,” said the source.

Bursa filings were made by both Ancom and MyEG, with suspensions of trading for both companies.

“ALB has entered into a Heads of Agreement with S7 Holdings Sdn Bhd, Merrington Assets Limited, MyEG Capital Sdn Bhd and Avocat Sdn Bhd,” said Ancom, according to the bourse filing dated July 16.

At the market’s noon close, Ancom’s shares were last done at 81 sen, up 4 sen, with 22.4 million shares traded. – July 16, 2020

Posted by nicholas99 > 2020-07-16 14:19 | Report Abuse

they got 10sen..you guys bought 30sen

Posted by TrendLai > 2020-07-16 14:36 | Report Abuse

10sens is like pre IPO price, the question is what is the price will Mr market value for instance IPO itself

Posted by Lukesharewalker > 2020-07-16 14:37 | Report Abuse

Why? To goring lah

Posted by pang72 > 2020-07-16 14:39 | Report Abuse

This Co will like dsonic and myeg in future.
Furthermore high possibility iis project 1.5B

It is worth to buy a profitable government security project for 30c

Posted by pang72 > 2020-07-16 14:43 | Report Abuse

Many did not know who is S5.
When they know S5 will get shock of such a talent Co in Malaysia doing security project yet nobody know

Posted by pang72 > 2020-07-16 14:46 | Report Abuse

Connect rumors burst.
Ancom signed HOA binding agreements which is more true!!

Posted by pang72 > 2020-07-16 14:56 | Report Abuse

Myeg will not simply do the HOA to lift up share price like other goreng Co.
Myeg is RICH enough

Posted by TrendLai > 2020-07-16 14:58 | Report Abuse

Agreed with Pang72 IPO price maybe more than 30 sen

Posted by pang72 > 2020-07-16 14:59 | Report Abuse

This is cheap cheap cheap x 10...very cheap

Posted by Pershing > 2020-07-16 15:01 | Report Abuse

S5 power house, people in the Industry knew about it, especially with current govt.

Posted by Pershing > 2020-07-16 15:05 | Report Abuse

I came here just to buy S5 related co, was with connect until last wk. Now S5 going to be a public listed co, everybody can have a piece. Another Myeg in making.

Posted by pang72 > 2020-07-16 15:05 | Report Abuse

I had not saw myeg signed any HOA with curi makan purpose!
This may happen to penny goreng Co for the purpose of goreng like Anzo.. Mtech...

Posted by pang72 > 2020-07-16 15:05 | Report Abuse

I will be expecting the share price going higher higher when reaching the official deal..

Posted by pang72 > 2020-07-16 15:08 | Report Abuse

Connect is leaking the rumors out to market. The price sour and the boss get to buy high price.

Ancom has sighed binding agreements of 10c share issuance to protect their interests.

This looks real

Posted by pang72 > 2020-07-16 15:14 | Report Abuse

-A+A
KUALA LUMPUR (July 16): S5 Holdings Inc, a company that provides integrated security IT solutions to governments, is seeking a backdoor listing via Ancom Logistics Bhd (ALB)

Posted by pang72 > 2020-07-16 15:15 | Report Abuse

Power sia..

Posted by chyeoh1972 > 2020-07-16 15:23 | Report Abuse

current price 0.29 but issue price 0.10 values only?MGO buy back from us is?Need advice?i takut like connect since the price drop back to below 0.30 liao

Posted by pang72 > 2020-07-16 15:25 | Report Abuse

Check the S5 background, you will like it

Posted by pang72 > 2020-07-16 15:25 | Report Abuse

10x cheap

Posted by hazsanariffin > 2020-07-16 15:26 | Report Abuse

the news is true.. why wait... fly we go

Posted by Lukesharewalker > 2020-07-16 15:28 | Report Abuse

Pdt will sell down this lemon

Posted by pang72 > 2020-07-16 15:29 | Report Abuse

S5 system directors will not wasting time to make fun in stock market because there are 60mils profit company..

Posted by Pershing > 2020-07-16 15:30 | Report Abuse

They sell cheap (shell co) to S5 but not to you or other, because the value with S5. Ancom knew 5% of 900m plus plus (going to be 2-3B market cap) is better than ALB current biz.

Posted by Lukesharewalker > 2020-07-16 15:31 | Report Abuse

I believe the PM was previously linked to this project. Could he hold on long enough to see it through?

Posted by pang72 > 2020-07-16 15:35 | Report Abuse

Dsonic, myeg... Not moving.. New star emerged

Posted by STFU_FU > 2020-07-16 15:51 | Report Abuse

@pang72 is a cheater and liar ..... @pang72 is tin kosong, keyboard warrior only

@pang72 don’t own any Ancom Logistics shares, @pang72 is a stupid poor peasant so cannot buy any Ancom Logistics shares.

@pang72 goes to every counter that raise up and claimed that he buy lots of share cheap cheap

@pang72, investors in KOSSAN is waiting for your return, why you cabut here and pretend to be a Share Sifu

You no more support Gloves Counters ?

Posted by STFU_FU > 2020-07-16 15:52 | Report Abuse

@pang72 is a cheater and liar, just a stupid keyboard warrior who like to boast like a tin kosong , this @pang72 no malu !!!

Look at @pang72 comments in his profile, all of you will know that @pang72 is a cheater and a liar, and don’t own any shares, and too poor to afford to buy

@pang72, go back to your penny stock PDZ where you cheated so many newbies with your buy signal and shouting limit up, now all newbies are stuck because of you

Posted by pang72 > 2020-07-16 15:54 | Report Abuse

System hangs kah??

Posted by pang72 > 2020-07-16 15:55 | Report Abuse

Top glove like big drop leh..

Lucky I advise to sell all glove stock yesterday!!

God bless me!

Posted by happyboy > 2020-07-16 15:55 | Report Abuse

hang hang hang