Wb moves up first, later mother will go up. Mother shares ppl throw down already the last few days . That means , those who hold mother will hold and wait for the next QR which is expecting to be better than the previous QR
This company now is cash rich and may return some extra money to shareholders.
Reference is made to the Circular dated 19 May 2017 as well as the announcements dated 27 July 2017 and 28 July 2017 in relation to the Rights Issue with Warrants.
On behalf of the Board, Mercury Securities wishes to clarify the following:-
(i) In the Circular, it was disclosed that the Rights Issue with Warrants will raise gross proceeds of RM18.7 million under the Base Case Scenario and RM26.4 million under the Maximum Scenario, based on an illustrative issue price of RM0.05 per Rights Share.
(ii) Subsequently, on 27 July 2017, Mercury Securities had, on behalf of the Board, announced that the Board resolved to fix the issue price at RM0.15 per Rights Share.
(iii) Arising from the above, additional proceeds of RM37.4 million and RM52.8 million under the Base Case Scenario and Maximum Scenario respectively will be allocated for the acquisition and/or investment in other complementary businesses and/or assets, further details of which were set out in Section 4(iii) of the Circular and will be set out in the Abridged Prospectus to be issued to Shareholders in due course.
(iv) Subject to the eventual subscription level of the Rights Issue with Warrants, the proceeds to be allocated for the acquisition and/or investments in other complementary businesses and/or assets may be substantial.
(v) Hence, the Board has resolved that if the Company is unable to identify suitable investments within 24 months from the completion of the Rights Issue with Warrants, the Company shall undertake a capital reduction and repayment exercise to distribute the unutilised proceeds back to Shareholders. In such an event, the Company shall make the necessary announcements and seek the necessary approvals from Shareholders and/or other relevant authorities to effect the capital reduction and repayment exercise.
KUALA LUMPUR (Sept 15): The FBM KLCI slipped below the 1,780-point level, as a fresh missile launch by North Korea over Japan rattled regional markets.
At 12.30pm, the FBM KLCI fell 3.26 points to 1,778.11. The index had earlier risen to its intra-morning high of 1,784.56.
Losers led gainers bhy 364 to 216, while 474 counters traded unchanged. Volume was 1.11 billion shares valued at RM708.38 million.
The top losers included Magni-Tech Industries Bhd, Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, Far East Holdings Bhd, CIMB Group Holdings Bhd, Malayan Flour Mills Bhd, Scientex Bhd, Petrnonas Gas Bhd and IQ Group Bhd.
The actives included Trive Property Group Bhd, Sinjo Hua-An International Bhd, Borneo Oil Bhd, Hibiscus Petroleum Bhd, Scomi Group Bhd and Ablegroup Bhd.
The gainers included British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, United Plantations Bhd, VS Industry Bhd, Globetronics Technology Bhd, United Malacca Bhd and Ann Joo Resources Bhd.
U.S. stock futures and Asian shares dipped after North Korea fired another missile over Japan into the Pacific Ocean on Friday, demonstrating Pyongyang’s defiance in the face of intensifying sanctions, according to Reuters.
U.S. stock futures ESc1 fell 0.2%, while MSCI’s Asia-Pacific share index excluding Japan shed 0.4%, though it was still up 0.4% on the week, Reuters said.
Kenanga IB Research said Asian markets were mostly lower, after disappointing China’s industrial output data.
It said also affected was the FBM KLCI which was down by 4.70 points (0.26%) at 1,781.37.
The research house said market breadth was negative as 492 decliners outpaced 397 gainers, while 342 shares traded unchanged.
“Chart-wise, the initial push was short-lived and ultimately ended in the red, marking the second day of pullback.
“However, the overall technical picture remains favouring the upside, with both MACD and RSI maintained in a positive state.
“Therefore, any weakness will likely to be shallow and temporary, with support levels of 1,770 (S1) and 1,760 (S2) expected to see buying on dips,” Kenanga IB Research said.
This counter climb up purely because of sharks. Sharks left, price went down. If youre hoping for it to climb again, will take very long time, maybe years.
Dun worry la. Strong Macq will support MLab on behalf of Netx. The former will not allow the latter two smallies to sink n jeopardise its financial performance, albeit a meager loss.
up to your trading plan what to do next. If youre currently paper lost in this counter youre probably, 1) Stuck at the peak during the uptrend 2) try to catch the falling price, hoping for rebounce, but price keep falling. 3) not cut profit when have small profit and the the price fall. If you cut loss, you will suffer real loss of money. if investing is your back up plan, you can keep averaging down until the next shark come in or have good news for this company. Sadly this company have a not so good FA.
Anyway, profit and loss is normal of investing/trading in stock market. Learn a lesson. keep gaining knowledge.
Just for sharing....good prospect company with lots of cash in hand.
The Board of Directors of Asia Bioenergy Technologies Berhad (“ABT” or “the Company”) wishes to announce that its wholly-owned subsidiary, Asiabio Capital Sdn. Bhd. has on 15 September 2017 acquired 75,100,000 shares of Mlabs Systems Berhad (“MLABS”), representing 13.16% equity interest in MLABS, via the subscription of the rights and excess shares of MLABS at an issue price of RM0.15 each (“Shares”) for a total cash consideration of RM11,265,000 (“Consideration”). Pursuant to the acquisition, Asiabio Capital Sdn. Bhd. will also be issued 37,550,000 free Warrants B of MLABS.
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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....
joe8032
215 posts
Posted by joe8032 > 2017-09-15 10:33 | Report Abuse
Don't play play....this operator can make u-turn anytime