Posted by Qestmast > 2021-04-15 13:43 | Report Abuse

Finally dropping to 0.35, time to accumulate my stack

Posted by limit_up_soon > 2021-04-15 13:44 | Report Abuse

Remember what I said few days ago?

Guys, TECFAST is under the same group of operator as what exposed by recent The Edge article. The Edge only mentioned 60penny companies, but I can surely tell you that TECFAST is one of them.

So run before it is too late. Don be deceived by all the "sweet words" providing by the cybertroopers here. RUN before it is too late.

New ESOS just announced, they going to throw soon. Just refer to my previous comments in others counters. They going to use the same tactic in TECFAST, so RUN fast.

XOX, AIM, OVERSEAS, KSTAR, NEXION (HK), CHEETAH, MACPIE, KANGER and many more are under same group of ppl. It is under the same guy called Eddie Chai.

Warning already given, up to you want to listen or not. Take care.

Posted by ted6328 > 2021-04-15 13:44 | Report Abuse

Another trapped counter, be careful

Posted by justinwee87 > 2021-04-15 14:02 | Report Abuse

Trapped is for those who chase high.
If you are long term value player, Will you still saying this ？
lol

Posted by jean1234 > 2021-04-15 14:49 | Report Abuse

the share price must hit 0.40 before share split in ace market isnt it ?

Posted by Citadel9999 > 2021-04-15 14:50 | Report Abuse

haha Kena trapped then become long term , most of the retailers

Posted by Lydia6061 > 2021-04-15 14:50 | Report Abuse

Fair value 0.7 before split

Posted by Eric963708 > 2021-04-15 16:30 | Report Abuse

u mean will come to 0.7? but ppl at KLSE screener had so much negative comments..

Posted by limit_up_soon > 2021-04-15 16:35 | Report Abuse

just refer to the XOX and KANGER's chart, then you will see where this tecfast will evantually goes. They are under the same group of operator.

Posted by power88 > 2021-04-15 16:47 | Report Abuse

don't buy.….

Posted by power88 > 2021-04-15 16:48 | Report Abuse

soon 0.30

Posted by justinwee87 > 2021-04-15 17:36 | Report Abuse

Depends what is your buying price lo. Nobody call you chase high.

Posted by power88 > 2021-04-15 18:04 | Report Abuse

KUALA LUMPUR (April 15): Techfast Holdings Bhd has proposed to split one existing share into two units and undertake a rights issue of up to 909.2 million new shares to raise money which will finance the working capital requirements of the group's existing businesses under a corporate revamp, which will see Techfast sell its core self-clinching fasteners and industrial components manufacturing operations.
In a Bursa Malaysia filing yesterday, Techfast said proceeds raised from the rights issue of new shares and free warrants was intended to fund working capital requirements of Techfast's existing business, which includes oil bunkering and trading of petroleum products.
According to Techfast, the company also yesterday (April 14) entered into a conditional share sale agreement with Lu Eng Shean for the proposed disposal of Techfast's 100% equity interest in Techfast Precision Sdn Bhd (TPSB) for RM6.1 million.
"TPSB is principally involved in the manufacturing and distribution of specialised fasteners and related precision turning and machining parts for the electronics, telecommunication, computer peripherals and automotive industries.
Due to advancements in the assembly process of computers and televisions, the main products of TPSB i.e. self-clinching fasteners and precision turning parts are becoming obsolete and are experiencing lower demand and orders received are usually in smaller quantities, which had resulted in lower production efficiency and a business that is no longer scalable, as evident by the decreasing profit after tax recorded.
"TPSB also faced increased competition from China as well as India in recent years, which has resulted in compressed profit margins and even though the management has been keeping operating expenses to a manageable level, the business has lower profitability as evidenced by the profit after tax recorded of only RM171,533 for the latest financial year ended Dec 31, 2020.
"As such, to reduce the cost of maintaining the operations of a low-profit business, the board has decided to undertake the proposed disposal and the proceeds raised from the proposed disposal will be used to fund Techfast group's other business activities that are more profitable," Techfast said.
On the one-to-two share split, Techfast said that upon completion of the corporate exercise, the company's number of issued shares will increase from 349.69 million to 699.39 million under the minimum scenario, which assumes none of Techfast's employee share option scheme options are granted and exercised prior to the implementation of the proposed share split and that the proposed rights issue with warrants is undertaken on the minimum subscription level.
"The board intends to undertake the proposed share split to reward the existing shareholders of the company in the form of subdivided shares for their loyalty and continued support as the proposed share split serves to increase the number of Techfast shares held by the company's shareholders at no cost to be incurred by the shareholders, while maintaining their percentage of equity shareholding held in the company," Techfast said.
Techfast said the share split may result in improved trading liquidity of Techfast shares and widen the shareholder base of the company.
Meanwhile, Techfast said its renounceable rights issue will involve up to 909.2 million new shares on the basis of one rights share for one existing Techfast share and up to 454.6 million free detachable warrants on the basis of one warrant for two rights shares subscribed for.
Techfast said it will fix the issue price of the rights shares at a later date.
"For avoidance of doubt, while the proposals are not inter-conditional, it is the intention of the board to complete the proposed share split prior to the implementation of the proposed rights issue with warrants.
"Assuming all the entitled shareholders subscribe in full for their respective entitlements of the rights shares, the proposed rights issue with warrants would entail the issuance of 909.2 million rights shares, raising total gross proceeds of RM109.1 million," Techfast said.
Barring any unforeseen circumstances and subject to all required approvals being obtained, the share split, rights issue with warrants and TPSB disposal proposals are expected to be completed in the third quarter of 2021, according to Techfast.
UOB Kay Hian Securities (M) Sdn Bhd has been appointed the principal adviser for the proposals, Techfast said.

Posted by power88 > 2021-04-15 19:54 | Report Abuse

Accordingly, the Proposed Share Split is in compliance with Rule 6.31(1A) of the ACE
Market Listing Requirements of Bursa Securities ("Listing Requirements"), which
requires the adjusted price of a Share to be not less than RM0.20 based on the daily
VWAP of the Shares during the 3-month period up to the LPD, pursuant to the provision
under Rule 13.04(1) of the Listing Requirements.
In determining entitlements under the Proposed Share Split, fractional entitlements, if
any, shall be dealt with in such manner as the Board in its absolute discretion deems
fit and expedient, and in the best interest of the Company

Posted by influenza19 > 2021-04-15 21:22 | Report Abuse

So the questions are:
1. Will tecfast cancel the share split if the share is below RM0.40? Or will they push the price back above RM0.40 before share split? If yes should wait for rebound.
2. Will the right issue still go through without share split? If yes ... Total share issue will become almost 1 Billions.
3. Or will they propose 2 to 1 or 4 to 1 (2 right issue to 1 share) in order to rise their working capital target of RM 100 Millions?

They target to rise RM100 Millions from 900 Millions right issue so it can be assume the right issue price to be around 10 cents. Most of the history show that share price will catch up to right issue price or sometime become lower like gocean, AT, Kgroup and Fintec.

Just for reference STRAIT (now share price RM 0.22) already do oil bunkering for 3-4 years. Their share issue around 780 Millions. Revenue per quarter around RM200 Millions before pandemics when oil price between 60-70 dollar. Their earning only between RM1 Million - RM2 Million.
Average VLSFO price 2019 - 550 singapore dollar/mt
Now VLSFO price 2021 is around 500 singapore dollar/mt

Posted by ted6328 > 2021-04-15 21:32 | Report Abuse

Pay for right issues while the share price keep dropping. Good luck.

Posted by ted6328 > 2021-04-15 21:33 | Report Abuse

Like Sapnrg, investors who subscribe to right issues, today still lose money. Don't waste money for right issues, better invest in counters that on uptrend.

Posted by cutie > 2021-04-15 22:18 | Report Abuse

have to cut loss now???

Posted by dchin472 > 2021-04-16 00:20 | Report Abuse

well play tecfast，cutlost ba

Posted by GorengGroupFB > 2021-04-16 02:07 | Report Abuse

Should I sell or buy more techfast?

Recently there is a few Facebook users called "Goreng Tipu" adding many investors, a lot of tips and newd there, anyone receive the invite????? It made me super worried

Posted by fidaus2005 > 2021-04-16 06:15 | Report Abuse

Aiyaa byk dah jatuh.. kasi goreng la satu kali.

Posted by khpwwl > 2021-04-16 09:09 | Report Abuse

oversold already...they already out when from 0.60 -0.405, a bit lower they will collect back

Posted by khpwwl > 2021-04-16 09:18 | Report Abuse

ya...push push push

Posted by Bgt 9963 > 2021-04-16 09:19 |

Post removed.Why?

Posted by khpwwl > 2021-04-16 09:25 | Report Abuse

seen like they already collected a lot to push down

Posted by khpwwl > 2021-04-16 09:28 | Report Abuse

they want 0.335

Posted by CEDgain > 2021-04-16 09:42 | Report Abuse

How they maintain 40sen if keep dropping.

Posted by khpwwl > 2021-04-16 09:52 | Report Abuse

they can sell 1st and buy back later...i dont know, may be retails only t3-t8, but they plays for few days and push cheaper and collect at open market within 8-16 days....

Posted by khpwwl > 2021-04-16 09:53 | Report Abuse

ri date belum announce...so i think they have time to play ard...

Posted by whistlebower99 > 2021-04-16 09:59 | Report Abuse

Another company good in share issuance.

NEWBIES be forewarned

Share split 1:2 and rights issue with free warrant (nothing is free) to dig money from shareholders

After the exercise total share issued will be increased from 349,694,084 to about 2 billion shares and 454,602,309 warrants

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3148120

Posted by Citadel9999 > 2021-04-16 10:20 |

Post removed.Why?

Posted by mystery > 2021-04-16 10:22 | Report Abuse

below 0.30 gogoogo

Posted by ted6328 > 2021-04-16 10:22 | Report Abuse

Never avg down. Why pay the right issues why share price keep dropping.

Posted by khpwwl > 2021-04-16 10:32 | Report Abuse

now aday, they use ri, bi to trap ppl

Posted by boiboy > 2021-04-16 10:42 | Report Abuse

Is this part of Kenneth Vun's scam gang target counter?? Better Exit now

https://klse.i3investor.com/blogs/vunyunlunmakesiewwei/2021-03-30-story-h1543074437-_Updated_Kenneth_Vun_the_John_Soh_of_Malaysia_RM20_billion_Securities_F.jsp

Posted by GorengGroupFB > 2021-04-16 10:44 | Report Abuse

There is a few Facebook users called "Goreng Tipu" adding many investors, a lot of tips and newd there, anyone receive the invite????? It has many klse news there leh

Posted by boiboy > 2021-04-16 10:46 | Report Abuse

20 cent coming

Posted by whistlebower99 > 2021-04-16 10:54 | Report Abuse

Articles for specially NEWBIES

Be forewarned of tricks...

https://www.theedgemarkets.com/article/special-report-hidden-hands-behind-penny-stock-surge


https://www.theedgemarkets.com/article/special-report-share-issuances-new-getrichquick-scheme-town


https://www.theedgemarkets.com/node/561960

Posted by GorengGroupFB > 2021-04-16 10:55 | Report Abuse

Wahh that Facebook called GORENG TIPU tells us who is the real operator and sharks, all did excellent jobs!
Heng ong huat ahhhh! This also involves tecfast

Posted by mystery > 2021-04-16 11:37 | Report Abuse

next week 0.30

Posted by ted6328 > 2021-04-16 11:45 | Report Abuse

This company sell core business n ask money (right issues) to start new business? Investors need to be careful.

Posted by 5 minute show > 2021-04-16 11:56 | Report Abuse

1 words Checkmate....

Posted by khpwwl > 2021-04-16 12:11 | Report Abuse

now they collect 0.330 sell to u at 0.335 later they will dump to 0.320, already standby to dump afternoon session

Posted by B4b4 > 2021-04-16 12:33 | Report Abuse

Mari dump... dump...... Jualan Murah..... Hari Raya Sale....

Posted by CEDgain > 2021-04-16 12:53 | Report Abuse

Afternoon back to 35-36sen

Posted by sesaham > 2021-04-16 13:02 | Report Abuse

mcm pokimakkkk

Posted by Titan > 2021-04-16 13:38 | Report Abuse

gorenggroupfb....mana ada fb goreng tipu oh....can share ah? After stk split, company guarantee not less than 20c oh. Buy now.......and after stk split adjust to 20c but ur actual cost is 16.5c oni. No good meh? buta buta earn 7c minimum. Maximum??? sky is the limit le.......mana mau cari ohh....

Posted by brandonliew33 > 2021-04-16 14:49 | Report Abuse

actually good point by titan, good profit after stock spilt, really free profit there

Posted by HannahM > 2021-04-16 14:49 | Report Abuse

0.325 betul2 bleeding nii

Posted by influenza19 > 2021-04-16 14:51 | Report Abuse

Really??? after adjust the minimum share price will be RM0.20??
even if the share price on the x-date RM0.30 (to become RM0.15 if split 1 into 2) or below???
where the money coming?? from bursa??
or do you expect the company will top up the difference or the company to push up the price before x-date?
The company even need to do right issue to rise working capital where they got money to top up the share price.
The best scenario... maybe they try to push share price to RM0.40 on the x-date but surely they will sell their share after that to quickly recover their capital.