Ancom Berhad Online Investor Briefing On 18 July 2020
We are hosting an online investors briefing through Zoom for the Main Market listed public listed company Ancom Berhad this coming Saturday morning, 18 July 2020, from 9.00 am to 10.30 am.
It is free-of-charge and you are strongly encouraged to join this upcoming Ancom Berhad online briefing. You can register to join by filling in the Google form below.
This online registration works on a first-come-first-served basis and we are only accepting a maximum of 100 participants to ensure that a truly interactive, quality meeting with the senior management team of Ancom Berhad will take place.
We will send a softcopy of all the reference material to the registered participants prior to the Ancom Berhad online briefing this coming Saturday.
Many people know that Government will award the NIIS to MyEG. But government also advise Myeg to use local companies as thier contractors and S5 seems has proven record.
Since Myeg started hiring many good talents including from S5, I think Myeg can work with many local contractors to complete the NIIS project.
No goverment officer dare to do recomendation to award the contract to Ancom although acquired by S5. This is because Ancom does not has proven record and they probably will fail if Special Branch perform background check of the company.
Lim, Goverment dare not award to Myeg because they do not have immigration IT experience. S5 has the experience. So, myeg consortium with S5 and Htpadu can say 100% chance to get the award.
AncomLB will be rename to S5. after reverse takeover deal done then AncomLB will issue 90% of AnComLB enlarged share to S5. Ancom stake in AncomLB will reduce to 4.5%. Based on ancomLB mcap 200m, the effective mcap should be 1B now. 1 B mcap is too low i guess. may be ancomLb mcap will double up again so that mcap will reach 2billion (it is a fair value)
Yes. Will issue 10 times of existing share size... Ancom has 49% stake in ancomlb. After issue new share to S5 then Ancom stake in ancomlb will be reduce to 4%.. 4% will worth 100m. The 100m will be reflect in Ancom next QR... Ancom is super under value now. Next week I will pump Ancom too..
1b value mean need 10b share .... hoa there got write 10 sen issue That mean after list If price stand 42.5 count value is 4-5b value Heihei Mean pe around 80-100
Interestingly, it was only five weeks ago that MyEG said it was buying a 10% stake in S5 from Merrington for RM90mil.
It said S5’ solutions and systems were “complementary” to the company’s existing and prospective service offerings, especially within the immigration space in Malaysia
THE RM1.5 bil National Integrated Immigration System (IIS) is expected to be awarded in the third quarter of this year, instead of this month as was initially reported, according to people familiar with the matter.
The contract is for a total of 4.5 years including three years of development, six months of monitoring and final one year of maintenance period.
After the contract period, there is a maintenance contract, which will be about 15%-20% of the value of the project.
Names that have been bandied about include Iris Corp Bhd, MyEG Services Bhd, Datasonic Group Bhd and HeiTech Padu Bhd.
Datasonic previously told FocusM that the company was confident of securing the project. “We shall announce and update soonest possible once available,” Datasonic chief operating officer Danny Chew said.
There is also little-known S5 Systems Sdn Bhd which has garnered attention of late for being a bidder as well as seeking a backdoor listing through ACE Market-listed ConnectCounty Holdings Bhd.
But market talk has it that there might be consortiums formed among the bidders as this is an extensive project that requires significant capital expenditure and expertise.
A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).
This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.
After that, there is another maintenance contract which would be around 15%-20% of the value of the project.
Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.
The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.
MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.
Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.
But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.
The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.
And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.
Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.
According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.
Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.
Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.
Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.
Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.
PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.
Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.
But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).
HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.
The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.
But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.
Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.
But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.
This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.
Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.
But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.
Syed Razlan himself was also former Arau MP, and he had joined Bersatu from Umno on July 15, 2018.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
bignate2019
250 posts
Posted by bignate2019 > 2020-07-17 17:06 | Report Abuse
Possible the one who bought yesterday at 43 will make sure next week above that price and possibly will temporarily fall after that. We see next week.
Like I mention key for the success of ALB is RTO and NIIS. If both met, then will fly higher and higher.