according to an announcement made on 8/2/2022, 118.452million shares proposed for the additional shares.On 6/4/2022 82.05 million shares were listed. Then on 13/4/2022 , 7.395 million were listed,& tomorrow 25/4/2022 6.59million will be listed.....Balance of 22.417 million will be listed in the next tranche....There is another round of PP/additional listing coming soon.
On 13/4/2022 ....9.28 million shares were disposed by an insider Mr Lim Tock Ooi....this represents 1.389% of the total no# of shares....Why is he dumping?....
something must be brewing inside there....An announce made on 22/4/2022The company - proposed renewal of shares buy back authority for the purchase of its own ordinary shares....Something must be brewing inside.
On behalf of the Board, UOBKH wishes to announce that 6,590,000 new Fast Energy Shares issued pursuant to the first tranche of the Private Placement were listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad with effect from 9.00 a.m. on 25 April 2022.
This announcement is dated 25 April 2022.
======== Directors continue to issue more shares fotmr RI, ESOS and PP Then propose shares buy back. No time to bring in profit from main businesses.
If you look at the historical data it hit a low of 0.055 on 12/4/2022 -14/4/2022 very briefly then very quickly go back to 0.06-0.065 level then to 0.07-0.075 levels.
selling had been reduced since 26/4/2022.Now we can see the support at 0,06-0,065.From this level it will be accumulation period.An AGM was held yesterday....shares buy back authority may had been approved.& the company may be buying back now...
it may look slow....if you noticed,selling had reduced a lot.It's now the accumulation phase, once spring loaded, if it go up it may go up fast .No# of shares issued is quite small 675.51 million shares...below 1 billion.
The wholly-owned subsidiary of Fast Energy Holdings Berhad (formerly known as Techfast Holdings Berhad) (“the Company”), namely, Fast Energy Sdn Bhd (“FESB”) engaged in the oil bunkering business, which commenced operations in late December 2020, has since secured several supply contracts and entered into a joint venture agreement. On 23 March 2021, the Company announced that FESB had entered into a supply agreement with Huang Fan Sdn Bhd for the supply of up to 6,000,000 litres of marine gas oil each month. The aggregate contract value was estimated at RM540million at the time of the announcement over the period of 45 months. On 24 March 2021, the Company completed the acquisition of 35% equity interest in CCK Petroleum Sdn Bhd (“CCKPSB”), whose business is trading of petroleum products. CCKPSB has an asset-light business model, established business network of customers and it holds licenses that enable it to provide oil bunkering services at Johor Port, Penang Port and Port Klang. Its results are equity accounted for in the group’s financial statements. The acquisition of CCKPSB includes a profit guarantee of which RM3.50 million is attributable to the Company for its 35% equity stake at the end of the two (2) year guarantee period. On 2 June 2021, the Company announced a joint venture arrangement with Wise Marine Pte Ltd and Fultonn Marine Sdn Bhd. This arrangement will involve the purchase of suitable product tanker vessels to carry out marine fuel trading activities, where FESB is entitled to a share of profit from the joint venture. On 2 June 2021, the Company also announced that FESB had entered into an additional supply agreement with Wise Marine Pte Ltd for the supply of low sulphur fuel oil, low sulphur marine gas oil and high sulphur fuel oil. The Company will continue to explore suitable ventures with fleet operators and players in the shipping and logistics industry to secure medium to longer term contracts. The Company has also been actively streamlining its businesses in line with its divestment strategy. During the financial year ended 31 December 2021, it had completed the sale of wholly-owned subsidiary company, Oriem Technology Sdn Bhd. The Company also sold its self-clinching fastener business with the completion of the sale of wholly-owned subsidiary Techfast Precision Sdn Bhd. These businesses of the Company have remained in small, medium industries and was challenging to scale up.
The Company had also ventured into the solar energy business with the incorporation of wholly-owned subsidiary, Fast Solar Sdn Bhd (“FSSB”) on 2 August 2021. In October 2021, FSSB entered into a solar power purchase agreement for the construction of a solar photovoltaic system and the supply of electricity to its customer for an initial period of 25 years. Full details of these significant events during the financial year are detailed in Note 36 of the Financial Statements. As these new businesses take off, the Company is actively engaging in fund raising corporate exercises to fund its working capital requirements. For the FYE 31 December 2021, the Company completed private placement in March and issuance of new shares, which was used as part of the purchase consideration for the 35% equity interest in CCKPSB. It had also received some increase in capital from the exercise of options exercised under the Employee Share Option Scheme (“ESOS”). Finally, in Dec 2021, the Company completed a rights issue corporate exercise. The Company had increased its issued and paid-up share capital from RM29.95 million to RM116.66 million as at 31 December 2021. There are plans to further raise capital through a private placement exercise as announced in March 2022. Details of this private placement are disclosed in Note 37 Significant Events After Reporting Date.
With this bunkering business...it looks like something big is cooking.Big business.Private placement is for this business.New acquisition...of CCK Petroleum Sdn Bhd will add value to this company.
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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....
whistlebower99
5,255 posts
Posted by whistlebower99 > 2022-04-22 18:31 |
Post removed.Why?