KUALA LUMPUR (Nov 19): Malaysia is a test case for the future energy economy as the nation progressed while being mindful of environmental protection, Prime Minister Datuk Seri Najib Tun Razak said.
Speaking at the International New York Times "Energy for Tomorrow" conference here today, Najib said Malaysia had faced challenges in marrying economic development and environmental protection.
"As we transform our economy, we face substantial challenges: marrying economic development and environmental protection. Building future-proof energy infrastructure. Preparing our people and our businesses to compete in a low-carbon global economy.
KUALA LUMPUR (Nov 19): ACE-listed Asia Bioenergy Technologies Bhd continues to accumulate shares in VSolar Group Bhd ( Financial Dashboard), raising its shareholdings in the latter to 17.1%, following its recent shares acquisition.
In a filing with Bursa Malaysia, the marketer and distributor of software solutions said AsiaBioenergy had purchased an additional 1.15 million shares, representing 0.41% of VSolar.
Asia Bioenergy bought the shares through its subsidiary Asiabio Capital Sdn Bhd yesterday (Tuesday, Nov 18), but the transaction price was not disclosed.
Asia Bioenergy has been accumulating shares in Vsolar since mid-October, when it had a 9.32% equity interest in VSolar then.
According to earlier filings, Asia Bioenergy had acquired some 7.2 million shares through three transaction since last Thursday (Nov 13). Those purchases lift its shareholdings to 16.69% or 47.05 million shares in the company.
VSolar was featured as a Stocks With Momentum on Nov 3, by The Edge Research.
In a report, The Edge Research said Vsolar's share price has surged by 58.3% to close at 19 sen, over the last two weeks.
"There may be two catalysts for the rally," it said, adding the emergence of AsiaBioenergy as a substantial shareholder with a 10.47% stake, and its foray into solar energy.
"VSolar has diversified into the solar energy industry, and signed a 21-year renewable energy power purchase agreement with Tenaga Nasional ( Financial Dashboard) in Aug 2013," it added.
"Prior to the change, VSolar has been in the red since 2010, with losses widening since 2011 to RM2 million in 2013. Revenue and profitability declined further in 1H14 — perhaps indicating that benefits of its new business direction have not kicked in yet," The Edge Research said.
According to the report, it said Vsolar was trading at high valuations of 3.5 times book, likely due to its small asset base. The company has net cash of RM3.6 million, as at June 30, 2014.
VSolar share price closed at 17.5 sen today, inching up 1 sen to 6.06%, giving it a market capitalisation of RM46.51 million.
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....
ozzie75
8,772 posts
Posted by ozzie75 > 2014-11-19 15:06 | Report Abuse
As a matter of fact I am not vested in Vsolar, but popped by to visit some fellow participants of other forums. :)
Cheers.