Posted by limitupupup > 2020-07-16 10:27 | Report Abuse

kantoi kena potong stim liao

Posted by limitupupup > 2020-07-16 10:27 | Report Abuse

limitdowndowndown

Posted by Pershing > 2020-07-16 10:32 | Report Abuse

S5 will inject their biz to Ancomlb, so if you the shareholders you will benefit and that doesn't consider Niis 1.5B biz.

Posted by Pershing > 2020-07-16 10:34 | Report Abuse

Your loss in connect will be cover

Posted by High5 > 2020-07-16 10:34 | Report Abuse

Is there actually a 'JB ' in the 1st place??? Many stil waiting for a reply fr him

Posted by Pershing > 2020-07-16 10:49 | Report Abuse

Jb give good info but they switch last minute, no way he would know that. Anyway Ancomlb cheaper than connect now.

Posted by Syndicates > 2020-07-16 10:49 | Report Abuse

feint to the east and attack in the west

Posted by Pershing > 2020-07-16 10:51 | Report Abuse

It is clear now, it's involved 4 cos including Myeg

Posted by MikaelBaE > 2020-07-16 10:55 | Report Abuse

Meanwhile Ancommlb: +0.210 (+161.54%)

Posted by Pershing > 2020-07-16 10:56 | Report Abuse

Too great to be miss, better than gloves co

Posted by Britishshorthair > 2020-07-16 11:04 | Report Abuse

Waitinf for JB

Posted by Arsenewenger8383 > 2020-07-16 11:05 | Report Abuse

Bungkus....

Posted by covid19la > 2020-07-16 11:15 | Report Abuse

hows joycelee, stay strong ya

Posted by HandsomeGain > 2020-07-16 11:23 | Report Abuse

bye bye...i just enter ancom...see you guys..it was so painful here...

Posted by budakbaiklah > 2020-07-16 11:25 | Report Abuse

any chance to rebound?

Posted by Jong Han Chen > 2020-07-16 11:31 | Report Abuse

Posted by jb161802 > May 29, 2020 12:49 PM | Report Abuse 

Today the lawyer for both party will sign


jb161802 
132 posts

 Posted by jb161802 > May 29, 2020 12:50 PM | Report Abuse 

Then will shoot up to 0.60-0.70

Posted by Pershing > 2020-07-16 11:44 | Report Abuse

You will make back bigger at ancomlb

Posted by af2506 > 2020-07-16 11:49 | Report Abuse

everyone cut dy?

Posted by budakbaiklah > 2020-07-16 11:51 | Report Abuse

still holding with pain

Posted by MikaelBaE > 2020-07-16 11:56 | Report Abuse

connect director really going to stay silence after all these?

Posted by af2506 > 2020-07-16 12:05 | Report Abuse

director also goreng n cabut. nothing left to say

Posted by High5 > 2020-07-16 12:06 | Report Abuse

Agreed Pershing

Posted by GreatWarrants > 2020-07-16 12:06 | Report Abuse

35 sen want to buy

15 sen dont want buy.

Funny

Posted by Joycelee > 2020-07-16 12:08 | Report Abuse

JB remain silent lol

Posted by High5 > 2020-07-16 12:08 | Report Abuse

Parent co is Ancom..
s5 bk door listing ancom logistic...

Posted by Britishshorthair > 2020-07-16 12:12 | Report Abuse

I still think timeline wise somethinf fishy. I just dont know what

Posted by Lich > 2020-07-16 12:17 | Report Abuse

konek dah mati pucuk...

Posted by Pershing > 2020-07-16 12:19 | Report Abuse

I think existing price will hold, don't think will drop to 5-10sen. Their ipcs also 12.5sen but upside maybe you have to hold for a while. It's just paper lost, switch to Ancomlb.

Posted by BetterTomorrow > 2020-07-16 12:26 | Report Abuse

Tdex, Aem, connect all same shareholder, don't touch, check annual report

Posted by Pershing > 2020-07-16 12:33 | Report Abuse

I told already Ace Group passive.

Posted by BearishTrend > 2020-07-16 12:39 | Report Abuse

10cts coming

Posted by High5 > 2020-07-16 12:42 | Report Abuse

business in Nylex [(Malaysia) Bhd] into a more integrated chemical distribution player upon completion of the proposed disposal.

“The details of the financial effects would be announced as soon as the definitive agreements have been finalised.

“The board, having considered all the relevant factors in respect of the proposals, is of the opinion that the proposals is in the best interest of the company subject to independent valuations, due diligence and finalisation of definitive agreements,” said Ancom.

In June, public-listed My EG Services Bhd's unit MY EG Capital announced its plans to buy a 10% stake in S5 Holdings for RM90 million. Based on the valuation, a back-of-envelope calculation shows that S5 Holdings will be valued at RM900 million. ALB's market capitalisation stands at RM156 million based on share price of 33 sen.

At 11.26am, Ancom shares rose 5.84% or 4.5 sen to 81.5 sen, valuing the group at RM206.15 million.

Posted by High5 > 2020-07-16 12:42 | Report Abuse

Gone for good Connect RTO

Posted by Britishshorthair > 2020-07-16 12:48 | Report Abuse

Will kena goreng again ah? Now hand burnt once.

Posted by High5 > 2020-07-16 12:57 | Report Abuse

KUALA LUMPUR (July 16): MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has announced that it will be disposing of its 10% stake in S5 Holdings Inc to Ancom Logistics Bhd today, a mere five weeks after announcing its plans to purchase equity in the national security solution provider.

In a filing with Bursa Malaysia, MyEG said its subsidiary and other vendors S7 Holdings Sdn Bhd, Merrington Assets Ltd (MAL) and Avocat Sdn Bhd had entered into a heads of agreement with Ancom Logistics and its parent Ancom Bhd to undertake a reverse takeover (RTO) of S5. 

S5 has three subsidiaries, one of which is involved in the provision of national security solutions.

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The RTO entails the proposed acquisition by Ancom Logistics of S5’s entire share capital from the four vendors at a price to be agreed upon by the parties involved, subject to a valuation report by an independent party.

Ancom Logistics will fulfil the purchase by issuing new ordinary shares to the vendors at 10 sen apiece.

The vendors will then make a mandatory general offer for all of Ancom Logistics shares that they do not already own, and offer some of the new ordinary shares for sale to independent third-party investors.

MyEG said the proposed RTO provides an avenue to unlock its initial investment — of RM90 million for a 10% stake in S5, thus roughly valuing the company at a whopping RM900 million — as the latter would be listed on the ACE Market and gain access to public markets, boost its standing, and enhance its value through better liquidity and prospective interest from more investors.

The announcement confirms an exclusive report by theedgemarkets.com yesterday about the restructuring of Ancom’s group of companies and its acqusition of S5.

As at 11.08am, MyEG was up three sen or 2.07% at RM1.48, valuing the company at RM5.13 billion.

Posted by High5 > 2020-07-16 12:58 | Report Abuse

This pc of news like final nail to connect co...

Posted by ZStrader > 2020-07-16 12:58 | Report Abuse

good news.... is... shares price is cheap now.. maybe can get cheap some more...

Posted by High5 > 2020-07-16 12:59 | Report Abuse

Move over to ancom logistic

Posted by Sashay88 > 2020-07-16 13:00 | Report Abuse

ancom logistic already up so much still dare to buy ka

Posted by Pershing > 2020-07-16 13:06 | Report Abuse

S5 is bigger than Dsonic, makan small Ancomlb...you no need brain to calculate.

Posted by FutureGains > 2020-07-16 13:33 | Report Abuse

As i said before. if RTO connect. No ding dong on share price. But conman connee all u.

Posted by Lich > 2020-07-16 13:38 | Report Abuse

game over guys....sayonara.

Posted by High5 > 2020-07-16 13:42 | Report Abuse

THE reverse takeover (RTO) of Ancom Logistics Bhd (ALB) by S7 Holdings Sdn Bhd is a positive move for Ancom Bhd, making it part of a bigger group.

“Ancom was selling ALB’s assets to Nylex (Malaysia) Bhd, which would allow it to streamline its operations by making logistics in-house, and Ancom would be able to reduce its debt to Nylex at the same time,” said a source close to Ancom management.

Nylex made up 50% of ALB’s business, according to the source.

At the same time, after selling ALB’s assets, Ancom needed to find an asset to inject into ALB, as it would have become a shell company.

“S7 came with the offer to RTO for S5, one of its holdings of which it owns about 70%, and this was timely, saving Ancom the time looking for an asset to inject into ALB,” said the source.

It was also explained that, even after dilution, Ancom would own about 5% of S5 Holdings Inc, a frontrunner of the National Integrated Immigration System contract (NIIS) worth RM1.5 bil. This would also raise Ancom’s value from owning a stake “in a RM900 mil company, according to MyEG Services Bhd’s deal.” For context, MyEG had paid RM90 mil for a 10% stake in S5.

“ALB went from a break-even ACE Market counter to issuing at 10 sen at a 473 million share base, and is being sold at RM47 mil. Discounting the net asset per share of 5 sen, ALB is being sold at a 5 sen premium, for RM24 mil. This is a very good price for a shell,” said the source.

Although there were also concerns raised about political motivations behind the deal, the source pointed out that this was merely a matter of timing.

“The S5 deal is merely timely, and S5 is also looking to conclude an RTO quickly, having been delayed by the ConnectCounty Holdings Bhd attempt,” said the source, noting that the current deal with ALB was not the same as the verbal agreement between S5 and ConnectCounty, due to a heads of agreement having been signed.

“The tender for the NIIS is a bonus, and as a minority shareholder, we would view it as good news should it be awarded to S5,” said the source.

Bursa filings were made by both Ancom and MyEG, with suspensions of trading for both companies.

“ALB has entered into a Heads of Agreement with S7 Holdings Sdn Bhd, Merrington Assets Limited, MyEG Capital Sdn Bhd and Avocat Sdn Bhd,” said Ancom, according to the bourse filing dated July 16.

At the market’s noon close, Ancom’s shares were last done at 81 sen, up 4 sen, with 22.4 million shares traded. – July 16, 2020

Posted by High5 > 2020-07-16 13:42 | Report Abuse

Yes Sayonara

Posted by Lich > 2020-07-16 13:44 | Report Abuse

Näkemiin Au revoir, Adieu, Oant sjen, Adeus, Abur, Totsiens, Mirupafshim, Ma’a ElSalama, Menak Parov

Posted by jkumarm > 2020-07-16 14:53 | Report Abuse

So does anyone know what will happen to our Connect shares? If it is a total buy will it be renamed to Ancom or what? Or is the share consider burn?

Posted by samfine11 > 2020-07-16 15:08 | Report Abuse

ya,sry,how now,i m stil holding connect,its will burn??tq

Posted by budakbaiklah > 2020-07-16 15:12 | Report Abuse

me too.

Posted by lee9fold > 2020-07-16 15:15 | Report Abuse

so wheres the jb guy who claimed he knows every insider news? disappeared? lol

Posted by samfine11 > 2020-07-16 15:18 | Report Abuse

will connect dierector will talk something later?