want to diversify again only 2 years after change course into oil bunking. again wants to dilute shares. Says a lot about the competence of the management. Sinking ship.
Tengok harga minyak utk menyimpulkan penawaran dan permintaan minyak di pasaran. Tapi pergerakan harga saham skrg diliputi oleh pengumuman right issue tersebut...
Look on the bright side, the other proposal is to diversify into the consumer electronics business, so that the company can reduce its reliance on the petroleum trading business which occupied more than 90% of its revenue
I. PROPOSED DIVERSIFICATION; AND II. PROPOSED RIGHTS ISSUE WITH WARRANTS
i. diversification of the existing principal activities of FEHB and its subsidiaries ("FEHB Group" or the "Group") to include the wholesale, distribution, retail of consumer electronic goods and related activities ("Consumer Electronics Business") ("Proposed Diversification"); and
ii. a renounceable rights issue of up to 242,192,937 new ordinary shares in FEHB ("FEHB Share(s)" or "Share(s)") ("Rights Share(s)") on the basis of 1 Rights Share for every 1 existing FEHB Share held, together with up to 121,096,468 free detachable warrants in FEHB ("Warrant(s) B") on the basis of 1 Warrant B for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later ("Proposed Rights Issue with Warrants").
Further details of the Proposals are set out in the attachment enclosed. This announcement is dated 7 June 2023.
==================== Directors only busy doing Fund raising, no time to generate business profits Directors get to collect more money for company fund to diversify into other business Retail shareholders have to dig pockets for more money to contribute to fund raising
Announced EX Date Subject Ratio Offer 13 Sep 2022 27 Sep 2022 Share Consolidation 1.0000 : 6.0000 03 Nov 2021 17 Nov 2021 Rights Issue (warrant) 2.0000 : 1.0000 0.1200
Rights issue exercise in 2021 raised about RM20 million Almost used up with no profit returns.
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....
khpwwl
3,405 posts
Posted by khpwwl > 2023-06-08 22:59 | Report Abuse
pp will continue raising...need your money to help them earn money