Critical Turning Point for FAST ENERGY HOLDINGS BERHAD (MUST READ)
The semiconductor cum oil bunkering player FAST had announced something extraordinary yesterday – one of the substantial shareholder of the company, Mr. Kuah Choon Ching had ceased to be substantial shareholder due to open market transaction.
Here’s an excerpt of Mr. Kuah’s background for your understanding:
"Mr Kuah started his career in the United Kingdom upon graduating from the University of Sunderland. He worked in the a Group of Companies, which was involved in trading and distributing products within the downstream of Oil and Gas Industry. He resigned and founded CCK Petroleum Group in 2007, and is the Group Managing Director of CCK Group today. Under his leadership, the Group has seen significant growth and has expanded its operations to cover international marine oil bunkering, oil tanker carrier operation, marine lubricants and marine oil trading.
Due to his diverse experience, he was later appointed as an Executive Director of Dnonce Technology Berhad on 2 May 2018, and was subsequently promoted to Chief Executive Officer on 1 September 2018.
During his tenure in Dnonce Technology Berhad, he spearheaded corporate exercises such as fund raising, diversification and share buy-back exercises for the company."
Also, Mr. Kuah is the executive director for KANGER INTERNATIONAL BERHAD, which is potentially going through a RTO exercise with the well-known property developer Aset Kayamas.
If you remembered, FAST had issued shares to Mr. Kuah for the purchase of 35.0% stake in CCK Petroleum, which should be a strategic shareholding for both parties, so what had changed the ballgame?
We know that FAST is venturing into the oil bunkering business – which is expected to yield extremely good results given the current oil market and busy offshore activities for now. By right it should make no sense for Mr. Kuah to dispose his stakes, right?
But lets first have a look at FAST's chart first.
For sharp-eyed investors, one would notice the share price was not impacted significantly by the disposal in the open market. Why is that so, and who are the buyers? Well, for one to absorb 15.30 million shares, one must have deep pocket and in order words, a change of strategic investor happened below our watch.
Now, the critical point for FAST is how quick they could bulk up their earnings in the oil bunkering segment – which as we told, it is expected to be really good based on the current outlook.
What’s more important to investor like us, is this is actually the best time for you to invest in the shares as the price were hampered by investors that do not understand what is going on.
20 cents is a bargain, and the share price could reflect to 30 cents anytime – a 50% ROI. But well, who am I to say? Do make your own studies before making any decisions!
"For sharp-eyed investors, one would notice the share price was not impacted significantly by the disposal in the open market. Why is that so, and who are the buyers? Well, for one to absorb 15.30 million shares, one must have deep pocket and in order words, a change of strategic investor happened below our watch."
Deep words, for sure someone is slowly collecting,
On behalf of the Board, UOBKH wishes to announce that the Board had on 28 October 2021 ("Price-Fixing Date") resolved to fix the issue price of the Rights Shares at RM0.12 per Rights Share ("Issue Price") and the exercise price of the Warrants at RM0.15 per Warrant ("Exercise Price")
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 909,204,618 NEW ORDINARY SHARES IN TECHFAST ("TECHFAST SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 1 EXISTING TECHFAST SHARE HELD, TOGETHER WITH UP TO 454,602,309 FREE DETACHABLE WARRANTS IN TECHFAST ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED
On behalf of the Board, UOBKH wishes to announce that the Board had on 28 October 2021 ("Price-Fixing Date") resolved to fix the issue price of the Rights Shares at RM0.12 per Rights Share ("Issue Price") and the exercise price of the Warrants at RM0.15 per Warrant ("Exercise Price").
================================== Directors looking forward to increase company fund by 909,204,618 X 0.12 = RM109,104,554 (maximum scenario) Easy convenient way compared to generating profits from business operations.
Shareholders get ready to pump in more money to subscribe for rights issue and free warrants.
============================ Total issued shares will increase to about 1.3 BILLION shares New warrant = 454,602,309 (max scenario)
============================= Directors are responsible to ensure success of rights issue exercise to raise fund from shareholders but they are not responsible to ensure shareholders make money from subscription of rights issue shares.
Guess after the leaving of Kanger, Fast less of goreng attraction but I guess is a very good news for FAST, less goreng, more FA, Additionally with the recent business, FAST will flip over.
Stress keep watching this counter. Now it is at it's lowest since 3 years. Even lower than the first Covid Lockdown. Don't know how much lower will it go.
Mr Quah sold around 21 on 18/10 and ceased as substantial shareholders Price continue to fall slightly for next few days. Then followed by rights issue price announcement on 28/10. Since then, it has been dropping more and with higher volume.
Mr Quah timing is excellent !!!
Question now is whether Mr Quah will sell all his remaining shareholdings or will buy back more or whether there will emerge new substantial shareholders if there are parties collecting at cheaper prices.
When will the price stabilise and when will the price rebound ?
the mastermind Eddxe Chai just bought a new sport car, he wanted to say thanks to all the supporter here who contribute to his new toy. More ESOS, PP and right issue on its way. Way to 5sen. Good luck.
As I know the Techfast boss’s Mr yap yoon sing who is no longer in big shareholder, and the Top shareholder is firstberry s/b. Why the boss Mr yap share become so small, and who is the top shareholder firstberry s/b…. I Believe tht u all can go search further I bought the share, I also look forward the share getting higher and higher… but the fact make me disappointed! Pls correct me if I was wrong
By the way, is FAST related to any Fintec group of people..........you may want to check out whether Kanger Int'l & Dnonce Tech are related to Fintec group. If YES, better avoid FAST quickly bcos after the rights issue the price will fall like waterfall just like all Fintec related companies
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....
gorengkitty
67 posts
Posted by gorengkitty > 2021-10-27 21:09 | Report Abuse
stock like this.. dont die fast and enter pn 17 can dy la, no need fly fast, start do business seriously and slowly climb can liao