In mTouche's past financial report, they hv never mentioned COVID 19 SELF TEST KITs..please go back and check ... :-).... It will be good if they can source for good quality, easy to use, self test kits and apply for the permit too..
On the website: mdar.mda.gov.my...Premier Diagnostics Sdn Bhd has the license for/as: authorised representative, distributor, importer. Expiry date, after extension, is 08 Dec 2024. So, mTouche, working thru/ with Premier Diagnotics, can submit any reliable test kits that they may hv for their conditional approval for use in Malaysia. So.. no issue with license for eligibilty for applications for the next 3 years :-)
Mtouche 10 consolidated to 1, when you buy 10C per share now, you are given 90% disc for 1 share. It is very cheap now.
If Credit Suisse group AG want to play up, the chances of high price is convincing; don't forget they had played up Focus from 3C to RM2.60 last year. Just wait and see what they are going to do first.
It is good that mTouche has decided to put the 'NEWly' collected money into the very much needed test kits and health industry n not to continuously pour all the money into the competitive loss making business they were in. Their internet platform is still useful. With over 100 million ringgit ...i m so looking forward to the profit with their new venture. Holding tightly to my shares n warrants :-)
If not the bottom, at least it is near the bottom. To get another company to buy its shares, the CEO must give a good presentation backed by realistic forecast. To trade in diagnostic kits that are in demand, backed by lots of money in the bank, it is a no brainer that there will be profit to be made. Telco business is v competitive n so there are loses in the past. But this new venture is promising. This is how i see it.
The telco/ media industry is like the fashion industry. The designer must come up with attractive designs for the 'fussy' customers. Trading in COVIC diagnostics kits now is like selling ice cream/ cold refreshing drinks during the very hot season.
You hv already said: big players holding most of the shares. They dont get rich buying lousy shares. They won't subscribe to the right unless they are convinced they will make handsome profits. A company can turn around and make profits fr new ventures. This share is going way beyond 10 sens.
The share price dropped but the company's bank account ended up with over RM 100 Mil. This $ provides it with an opportunity to turn the company around with tremendous profit in the near future. It is not difficult to make $$$ selling kits that are in demand. I can see it going back up to AT LEAST RM0.50. All depends on how aggressively they invest n seek out end users ( diagnostic / clinical laboratories). If u dont think they can make money, say why...dont just say con counter..doesn't explain anything. OK?
If u go back to their announcement, u will see how much they are paying for the kits. U google the cost ( there is a range depending on where u go for the test)of having to pay for a test. U then roughly factor the cost of overheads, middleman cost and the laboratories' cost ( all cost fr middleman and laborarories will include the profits they want) n u will see that mTouche can make lots of money. Without the $$ fr the rights issue, mTouche will struggle..
Btw, desperate short term speculators, sentiment manipulators and price manipulators are also guilty in pushing the price down...all deperate in wrestling shares from people at low prices when mTouche is on the verge of doing well....all that $$$ in the bank and a demand for diagnostic kits....how can it go wrong
MTOUCHE TECHNOLOGY BERHAD ("MTOUCHE" OR "THE COMPANY") - RESIGNATION OF AUDITORS
The Board of Directors of MTOUCHE wishes to announce that the Company had on 20 August 2021 received a notice in writing dated 6 August 2021 given pursuant to Section 281 of the Companies Act 2016 ("CA 2016") from Messrs. Grant Thornton Malaysia PLT (“GT”) on their resignation as Auditors of the Company. Pursuant to Section 281(2) of the CA 2016, GT's term of office will end after twenty one (21) days from 6 August 2021.
GT was re-appointed as the Auditors of the Company at the last Annual General Meeting ("AGM") of the Company held on 3 December 2020 and is to hold office until the conclusion of the next AGM of the Company. The resignation of GT is on a voluntary basis.
Save for the above, the Board is not aware of any other matters that need to be brought to the attention of the shareholders of the Company.
Further announcement will be made by the Company in due course once the appointment of the new auditors is finalised.
This announcement is dated 20 August 2021.
---------------------------------------------------------------- Auditor resignation sending a message ?
Something to think abt. I hv free warrants, bgt some at RM 0.030 and again some at RM 0.025. When the share price goes up , fr profit annoncement, how much more can the warrant price ( percentage wise) go up relative to the share price. Buying warrants does not mean u hv to subscribe if u dont want to. U can sell when it goes up .... go calculate...
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....
Posted by Frankie Tan > 2021-07-15 07:32 | Report Abuse
What is the test kits result ? Fake counter .