with the recent rise in price, along with the owner's history, not favourable for RTO using this counter.
Why want to take so much risk when such a big project is at stake?
1.) First off, high price is not beneficial to potential new owners, given that they have not owned any shares in this counter. 2.) Number of Shares Outstanding also very small. 3.) Owner's history also may complicate deal 4.) SC may not approve last minute
All of the above serve to only complicate or throw a spanner in the works. More so, when the project announcement due is around the corner.
KUALA LUMPUR (July 28): Cable and wire manufacturer ConnectCounty Holdings Bhd said today it has ceased all negotiations pertaining to the possible reverse takeover (RTO) exercise involving S5 Systems Sdn Bhd.
This comes after it was reported last Monday that Ancom Logistics Bhd had proposed an RTO exercise which entailed the acquisition of the entire share capital in S5 Holdings Inc — the parent company of S5 Systems.
S5 Systems was reported to be one of the front runners to bid for the new National Immigration Integration System project, which is expected to be awarded in the third quarter of this year.
In an earlier filing with Bursa Malaysia on June 16, ConnectCounty said it was in negotiations with the relevant party pertaining to the possible RTO involving S5 Systems.
From the start of June, ConnectCounty shares jumped by three times, reaching a peak of 39 sen on June 15, from 13 sen. Thereafter, the stock is seen trending downwards.
The counter closed unchanged today at 15.5 sen, valuing the group at RM78.9 million. Since its peak price on June 15, the stock has lost some 60%.
Hopefully Ancom Logistic n S5 deal is firm...time factor...Aug annoucement of NIIS contract...no more news fr Ancom Group thus far since the 1st announcement
My advice wait for new shares listing, the co are not ready. You can do your own research on how long it's take to do rto. Malaysia Focus news are not accurate.
By Syafiqah Salim | theedgemarkets.com | 2020-07-29 14:15:25 KUALA LUMPUR (July 29): Copper wire and rod maker Ta Win Holdings Bhd has teamed up with a Terengganu strategic investment agency to jointly develop an industrial park at a gross development cost of RM2.4 billion in Kemaman, Terengganu.
Ta Win said the proposed joint venture (JV) will enable its business operations to be further integrated into the supply chain of the non-ferrous metal industry as the industry players from upstream and downstream of the supply chain of that industry are pooled together to form an industrial ecosystem in the industrial park.
In a bourse filing today, Ta Win said it has entered into a JV agreement (JVA) with Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT) for the proposed development likened to the Kitakyushu Eco-Town project in Fukuoka, Japan.
Measuring 500 acres, the Terengganu Ecocycle Park is expected to facilitate the industry innovation, delivery of significant impact in the usage of recycling raw materials and waste reduction, addressing the environmental conservation and climate change issues through responsible consumption and production, as well as collaborations and partnerships between the public and private sectors to promote sustainable economic growth, it added.
Under the JVA, a JV company called Ta Win Copper Ecocycle Sdn Bhd will be established to facilitate the proposed development. Ta Win will hold an 80% stake in Ta Win Copper Ecocycle, while PMINT will own the remaining 20% shares.
According to Ta Win, the Terengganu Ecocycle Park, comprising core technology zone, sub-core technology zone and supporting technology zone, will be developed in four phases.
As at July 28, 2020, Ta Win had shortlisted a number of the experts and consultants required for the studies to finalise the development plan of the industrial park.
Ta Win estimates that the full development and commissioning of the Terengganu Ecocycle Park will take over nine years.
In a separate statement, Ta Win group managing director Datuk Seri Ngu Tieng Ung said the Terengganu Ecocycle Park will be the first-of-its-kind in Southeast Asia. "We will be able to propel the sustainable long-term development of the non-ferrous metal industry. In fact, to lead the way forward and promote environmental conservation and sustainability in the non-ferrous metal industry supply chain, Ta Win will be relocating our existing headquarters and factories to the core technology zone of the park,” he added.
The group expects to fund the development of the Terengganu Ecocycle Park with its internal funds, bank borrowings and/or other funding alternatives which may include equity fundraising exercises to be undertaken by the company.
"The proposed JV is expected to contribute positively to the group's future earnings arising from the undertaking of the development of the Terengganu Ecocycle Park. Any profit attributable would be realised in stages over the tenure of the development of the Terengganu Ecocycle Park based on the progress of the said development," said Ta Win.
This seem getting real ! Principal adviser appointed for the RTO
We refer to the announcement dated 16 July 2020 (Ref. No. GA1-15072020-00104) in relation to the HOA for the Proposed Corporate Exercise (“Announcement”). Unless otherwise defined, the abbreviations and definitions used in this announcement shall be the same as those previously defined in the Announcement.
Further to the Announcement, the Board of Directors of ALB wishes to announce that on 30 July 2020, TA Securities Holdings Berhad has been appointed as the Principal Adviser for the Proposed Corporate Exercise. The terms and scheme have yet to be finalised at this juncture and appropriate announcements will be made in due course upon finalisation of the definitive agreements.
Further to the Announcement, the Board of Directors of ALB wishes to announce that on 30 July 2020, TA Securities Holdings Berhad has been appointed as the Principal Adviser for the Proposed Corporate Exercise. The terms and scheme have yet to be finalised at this juncture and appropriate announcements will be made in due course upon finalisation of the definitive agreements.
Any learned corporate finance person would know that an IB willing to sponsor a RTO case must have already a certain level of confidence on the viability of the execution from start to finish. Congrats to S5 and ALB team for having found an IB. Best of luck to TA Securities and also to all shareholders :)
Hmmm now finally my question last few days is answered ! Why there is always strong collection at certain price range ... congratz to those that hold ... today a lot sell and take profit might because of long weekend and panick sell after afternoon session
#moneyteam yeah seems somebody is pushing down the proce and collecting low since monday.. observed that too.. Friday drops because of profit taking and also overall panic red index...
@high5 but I doubt no IB willing to sponsor the RTO case if they dont have confidence on vialibilty of the case just like @Kok Heng said earlier ... Thing seem getting real ! Monday up up up up !
In Sept 2017 , after Vizione completed RTO of Astral Supreme ,the stock price increased all the way to RM 1.12 from RM0.12 for those who have the patience to hold on their stocks.
Soon to happen bro ! Next week will be a good week ... at least some positive direction shown by appointing principal adviser !!! Go go go rocket to the moon !!!
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Posted by Pershing > 2020-07-27 11:54 | Report Abuse
agree with nocommenta, new parties has no shares yet, i think they don,t play yet. Wait for new shares issue