FAST ENERGY HOLDINGS BERHAD (FORMERLY KNOWN AS TECHFAST HOLDINGS BERHAD) ("FAST ENERGY" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT
On behalf of the Board, UOBKH wishes to announce that Bursa Securities had, vide its letter dated 25 March 2022, resolved to approve the listing and quotation of up to 78,511,945 new Shares to be issued pursuant to the Proposed Private Placement, subject to the following conditions:-
“The recent increase in oil prices results in higher working capital requirements from oil bunkering players as supply needs to be secured at higher cost. This also dampens the profitability for this business segment. However, with the inflow of funds from the rights issue, management will be able to utilise the proceeds as working capital to fund a larger supply volume for our customers.
“Taking into consideration the growing demand for marine fuel oils as global trade and shipping activities gain momentum following reopening of economies, management is cautiously optimistic on the overall prospects of this business segment barring any unforeseen circumstances.”
Over the past 1-month period, it is obvious that the local energy sector and Fast Energy is having a discrepancy between them and the oil price. By all means I have no connection to help you to get to the private placement, but the current share price has sufficient discount to value.
Learn to differentiate between good fund raising and bad fund raising, and investment opportunities will emerge.
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....
tonygofly
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Posted by tonygofly > 2022-03-23 19:01 | Report Abuse
:))