FINTEC GLOBAL BERHAD

KLSE (MYR): FINTEC (0150)

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Last Price

0.01

Today's Change

0.00 (0.00%)

Day's Change

0.005 - 0.01

Trading Volume

341,100


16 people like this.

27,463 comment(s). Last comment by Musang King 1 day ago

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

Lambo Group Bhd said it was unaware of any wrongdoing related to its indirect wholly owned subsidiary Fujian Accsoft Technology Development, after China's finance ministry imposed a penalty on the subsidiary's auditor last month.

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

Kaki jenayah kan? Wakaka :)

OTHERS LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") - Clarification on the Article Relating to the China's Finance Ministry Imposes Its First Cross-Border Administrative Penalty to the Auditors of Fujian Accsoft Technology Development, an indirect wholly owned Subsidiary Company of LAMBO
LAMBO GROUP BERHAD

Type Announcement
Subject OTHERS
Description LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY")
- Clarification on the Article Relating to the China's Finance Ministry Imposes Its First Cross-Border Administrative Penalty to the Auditors of Fujian Accsoft Technology Development, an indirect wholly owned Subsidiary Company of LAMBO
Reference is made to the article appearing in sinchew.com.my website on Wednesday, 13 July 2022 relating to the China’s Finance Ministry Imposes Its First Cross-Border Administrative Penalty to the Auditors of Fujian Accsoft Technology Development (“Fujian Accsoft”), an indirect wholly owned subsidiary company of LAMBO.



The Board of Directors of Lambo wishes to clarify that the Company was only made aware of the said article by Bursa Malaysia Securities Berhad on 17 August 2022. At this juncture, the Company is not aware of any wrongdoing in connection to Fujian Accsoft. Nevertheless, the Company will verify the contents of the article and to take necessary action, if any.



At this juncture, the Company reserves all comments and shall make the necessary announcement(s) as appropriate when there are further developments to this matter.



This announcement is dated 18 August 2022.





Announcement Info
Company Name LAMBO GROUP BERHAD
Stock Name LAMBO
Date Announced 18 Aug 2022
Category General Announcement for PLC
Reference Number GA1-18082022-00054

BLee

621 posts

Posted by BLee > 1 month ago | Report Abuse

@Good123: Lambo Group Bhd said it was unaware of any wrongdoing related to its indirect wholly owned subsidiary Fujian Accsoft Technology Development, after China's finance ministry imposed a penalty on the subsidiary's auditor last month.

BLee: Hi Bro @Good123, thanks for sharing an "INDIRECT" article at Fintec forum.
1st "INDIRECT" as mentioned above indirect wholly owned subsidiary..
2nd "INDIRECT" as only subsidiary's auditor. Auditor having sole client?
3rd "INDIRECT" only sharing the same linked investor??
There are many more "INDIRECT" which I won't dig further. FYI, I have no direct investment in Lambo, maybe "INDIRECT" only..Again thanks for "eye and ear" for highlighting "INDIRECT" info.
Happy Trading and TradeAtYourOwnRisk

pineapple123

2,452 posts

Posted by pineapple123 > 1 month ago | Report Abuse

BLee, try to look at focus dynamics. Before, it went up to RM3 plus, from few cents.

I believed Fintec can too.

BLee

621 posts

Posted by BLee > 1 month ago | Report Abuse

@pineapple123: BLee, try to look at focus dynamics. Before, it went up to RM3 plus, from few cents.
I believed Fintec can too.

BLee: Hi Bro @pineapple123, Focus D is a very clear case of pump and dump by a certain foreign investor. Fintec instead of dump together, increase owning by roughly 10% at around 4sen to 5sen. I have tracked the acquisition in one of my articles, when I am interested in buying Fintec at around to a low of 2sen. My funds (for shares purchase purposes only) are tight up in Ageson-PA at around 3 to 3.5sen, if not, I would have bought more at 1sen. I would be happy if I can wait until 10sen, i.e. 5X my investment cost. On the possibility of consolidation, I might share the analogy formula of my work experience of power/control transformer sizing (PTs and CTs), ratio of 1:XXX for better control and accuracy..No value lost.
Happy Trading and TradeAtYourOwnRisk

pineapple123

2,452 posts

Posted by pineapple123 > 1 month ago | Report Abuse

Blee, what is there is Ageson-PA? mind sharing more ?

BLee

621 posts

Posted by BLee > 1 month ago | Report Abuse

@pineapple123: Blee, what is there is Ageson-PA? mind sharing more ?

BLee: Hi Bro @pineapple123, I am still learning on Preference Shares which AGES-PA is part of this type of investment instrument. I have written a few articles from my learning, you can go thro', I am glad to answer your queries again if you have a question.
Quick reference for ICPS:
- Mature and auto convert.
- Anti-dilution. Example below.
- 2 methods of conversion.
My articles have taken as an example how Fintec-PA conversion adjusted from 16PA to 11PA for conversion to 8 mother shares, a discount of 5PA.
Details: Pursuant to the Adjustment, the conversion price of the ICPS will be revised from RM0.16 to RM0.11 as in Securities of PLC dated 24 December 2020.

To answer your question, I do not have the right answer, only assume a discount of RM0.92. If 13 AGES-PA can convert to 1 mother share, therefore 1 AGES-PA will be worth 1.03/13 equal to RM0.079 instead of RM0.15??
If by cash conversion method, the AGES-PA price will come to equilibrium around RM0.95 whereby both mother and AGES-PA theoretically will increase in tandem??
Details:Initial Listing, Issue Size in Unit 4,610,754,392 at RM0.01
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR) 0.1300
1st Further Issue, Issue/ Ask Price Malaysian Ringgit (MYR) 0.1500 Enlarge Issue Size in Unit 254,281,099
2nd Further Issue, do not understand on Ask Price of NA?
Pursuant to the adjustment to the conversion price of the ICPS arising from the Rights Issue ("Adjustment"),
(i) the conversion price of ICPS of RM1.95 each will be revised to RM1.03 each; and
(ii) The cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Share) of RM1.80 each will be revised to RM0.95 each.

The notice setting out the details of the Adjustment to the holders of ICPS was despatched to entitled ICPS holders on 2 June 2022.

This announcement is dated 8 June 2022.
Due to heavy rain, really have a busy day on the road.
Happy Trading and TradeAtYourOwnRisk

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

Ok to sue the directors too


KUALA LUMPUR (Aug 22): The High Court has dismissed Iris Corp Bhd’s lawsuit against its former chairmen Tan Sri Razali Ismail and Datuk Nik Azman Mohd Zain and former group managing director and chief executive officer Datuk Tan Say Jim, in relation to losses incurred pertaining to the subscription of Border Control Solutions Ltd (BCS) shares.

The suit, filed in 2019, had also named as defandants, six former board members, namely Tunku Datuk Seri Shahabuddin Tunku Besar Burhanuddin, Datuk Hamdan Mohd Hassan, Datuk Eow Kwan Hoong, Chan Feoi Chun, Syed Abdullah Syed Abd Kadir and Datuk Noor Ehsanuddin Mohd Harun Narrashid.

In a bourse filing on Monday (Aug 22), Iris said the court awarded costs in the sum of RM85,000 each to Razali, Tan, Tuanku Shahbuddin and Hamdan.

It also awarded RM85,000 collectively to Eow, Chan, Syed Abdullah and Nik Azman.

Iris said it is seeking legal advice on the next course of action on the outcome of the court’s decision.

In its suit, Iris had sought from the defendants, RM11.72 million for the sum paid to subscribe to BCS’s shares of £2.05 million, and RM482,172 (£84,000) for the amount paid to Joseph Vijay Kumar as consultant fees, and other relief deemed fit by the court.

The group had accused the defendants of allegedly failing to discharge their "respective fiduciary duty, duty of fidelity and/or duty to exercise reasonable care, skill and diligence as directors of the company".

Shares of Iris ended 1.5 sen or 9.68% lower at 14 sen on Monday, giving the group a market capitalisation of RM457 million.

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

najib dah masuk penjara sebab curi duit rakyat, bilakah manipulators syer fintec masuk penjara kerana curi duit pemegang syer minoriti pulak? :)

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

selepas najib dipenjarakan, lebih banyak skandal korporat termasuk manipulasi syer di bursa akan dibongkarkan satu per satu...

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

kini rakyat makin berani mendakwa penjenayah2 di mahkamah termasuk kes jenayah komersial seperti manipulasi syer, dll

Good123

14,984 posts

Posted by Good123 > 1 month ago | Report Abuse

FINTEC GLOBAL: (FGB MK, CP: MYR0.01, Not Rated) Disposing 2 gloves dipping lines, will this help?
Maybank IBG Retail Research

Fintec Global’s wholly-owned subsidiary Fintec Glove S/B entered into a sale and purchase agreement with Joe Glove, a wholly-owned subsidiary of Joe Holdings (JOE MK, CP: MYR0.025, Not Rated) to dispose 2 double former dipping lines for MYR14.5m.

Some background, Fintec Glove is principally involved in the manufacturing of personal protective healthcare equipment and rubber gloves machinery, and leasing of rubber gloves machinery and ancillary equipment. Recall that the group ventured into gloves manufacturing in Aug 2020 in a bid to widen its income base.

The group built 14 glove-dipping lines in its gloves manufacturing facility located in Kinta, Perak, completed in 1Q22. The proposed disposal of the 2 glove dipping lines would result in a cost savings due to sharing of resources with Joe Glove. The estimated total cost for a piece of glove is expected to be reduced by 3.5%.

Although the potential cost savings would benefit the group, this would be overshadowed by the challenging prospects of the gloves industry amid: 1) challenging ASP outlook on stiff competition; and 2) rising production costs (raw materials, manpower and electricity). Notably, MKE analyst expects gloves ASP outlook to remain challenging over the next 6 months due to oversupply situation.

Fintec’s upcoming results should reflect contribution from its gloves manufacturing segment. But until the gloves business starts to contribute significantly to the group’s bottom line, its prospects hinge on its core business of portfolio investment. Note that the group typically concentrates its investment activities in bio-based “green” technologies particularly in the biodiesel sector.

All in all, execution is key. Valuation wise, PB is a more appropriate methodology given its earnings track record. At current price, the stock is trading at a PB of 0.1x, which is lower than its 3-year historical average PB of 0.2x. A key concern for the group is that its cash & bank balances stood at only MYR1m as at end-Mar 2022.

Posted by Musang King > 1 month ago | Report Abuse

Thank you Good123

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

Cuti ? 0 trade ? Kasi muka sikit la.. buy 100 units la.

Posted by Musang King > 1 month ago | Report Abuse

I can buy but after buying, my money will get stuck (not moving) for unknown months or years. Unless Fintec directors do something to improve Fintec shares repo like for example do some works to apply to relist Fintec into Nasdaq etc etc in USA or Hong Kong. Is it possible. If possible, Fintec will easily fly like eagles high up in the sky. My dream only. Hahahahhaaa

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

5 minutes before market close for today . 100 units = RM1 only. If not Zero trade today. Support ?

Posted by Musang King > 1 month ago | Report Abuse

Where got zero trade? 8,555,000 shares traded today.

pineapple123

2,452 posts

Posted by pineapple123 > 1 month ago | Report Abuse


Musang King

w.legalandcompliance.com/wp-content/uploads/2011/12/LC-Whitep...

1 hour ago

What is this regarding ?

Posted by Musang King > 1 month ago | Report Abuse

Our Fintec is stucked in Malaysia at 1 sen a share. In my opinion, if Fintec managements or any other Bursa related counters are unhappy with Bursa, we can always look outward even to the US for Nasdaq listing which is possible. We cannot get stucked here in Malaysia alone. We must be open and think international to make our Fintec Global Berhad name more relevant.

CFTrader

807 posts

Posted by CFTrader > 1 month ago | Report Abuse

Sad to say people still have hopes in this counter...

"Fintec stuck in Malaysia .." , if they can list in NASDAQ, they already list like how GRAB list it...
"apa mahu check? tunggu naik half of a cent all happy!" - u better go Genting there play Baccarrat, at least u have pretty PRC girl + all the drinks served by Genting group before u win/lose at 45/55 chance.

MusangKing, i'm deeply saddened with your loss, but i think you shouldn't put your "good" money into the "bad" money in FINTEC anymore... Go and find other better company to invest.

BLee

621 posts

Posted by BLee > 1 month ago | Report Abuse

@CFTrader: Sad to say people still have hopes in this counter…

BLee: Hi Bro @CFTrader, let's compare investment of RM1k in Fintec at 1sen and Fixed Deposit of 2%p.a. for the duration of 1 year and 5 years, what could be the return and risk??
The return for FD roughly will be RM1,020 for 1 year and roughly RM1,104.05 for 5 years. I would allocate/risk my RM1k spare cash for 5 years in Fintec in lieu of the mere RM104 interest gain.
Another example, I have risked my investment in AGES-PA at 3 sen, already close to 100% gain in less than half a year. Both of these examples, the investment is traded at almost historic low, so the gain risk will be improved if the market reverses direction..just low risk low gain and high risk never know the gain!!
Happy Trading and TradeAtYourOwnRisk

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

Itu lah, kalau tak mampu hold, jangan beli. You ingat beli 0.01 boleh jual 0.015 . Ini macam senang , tak ada employee dah. Semua jadi employer. Kan dah kena just balik 0.01 sekarang. Buat susah saja. Ini macam , mana price boleh up.

Posted by Musang King > 1 month ago | Report Abuse

Parkir saja lah untuk beli harga setengah sen berbanyak banyak. Tak akan rugi. Dapat pun macam invest untuk Long Term. Fintec akan bangun satu hari nanti. Tunggu masa sahaja.

Posted by whistlebower99 > 4 weeks ago | Report Abuse

FOR NEWBIES

MNC is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

This announcement is dated 29 August 2022.

===================
Be careful trading high NOSH low price penny stocks

Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants

List of penny stocks with shares consolidation :-

2022 in progress - MNC, MERIDIAN, LKL, IMPIANA, FAST, VSOLAR

2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX,

BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........

====================
TAYOR, don't be caught in share consolidation exercise

BLee

621 posts

Posted by BLee > 4 weeks ago | Report Abuse

@whistlebower99: FOR NEWBIES

MNC is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

BLee: Hi Bro @whistlebower99, thanks for the info. There are two sides of a coin, IMHO, due diligence needed before any shares purchase. A good example is the recent QR of AGESON; details as below..
"The salient points (June22QR vs June21QR) are:-
- NTA of 1.22 vs 0.24, improved by 0.98, 408.3% (due to consolidation and RI?).
- Revenue of RM116,664k vs RM51,281k, improved by RM65,383k, 127.5%.
- Gross profit of RM29,933k vs RM9,312k, improved by RM20,621k, 221.4%
- Net profit of RM4,594k vs RM7,751k, declined by RM−3,157k, -40.7% (mostly contributed by the impairment of goodwill on consolidation in a subsidiary)
Earnings per share (Basic (sen)) of 2.74 vs 0.57, improved by 2.17, 380%
Cash and bank balances of RM41,671k vs RM9,059k, improved by RM32,612k, 360%"
I am very much interested in counters having ICPS due to the anti-dilution, two methods of conversion and auto-convert upon maturity features. High NOSH low price penny stock proposing to do shares consolidation should NOT be a problem for such counters…
Happy Trading and TradeAtYourOwnRisk

Posted by Musang King > 4 weeks ago | Report Abuse

100% agree with BLee. I parked to buy Fintec and Fintec PA at 0.005. Anybody wants to sell, you are welcomed. Thank you.

Posted by Musang King > 4 weeks ago | Report Abuse

NOTHING GOOD. FURTHER LOSSES DUE TO FAIR VALUE INVESTMENT LOSS. OUR CASH BALANCE DEPLETING
AND I NOTICE SOMETHING WRONG IN OUR I3 REPORTING HERE. I3 REPORTS WE NOW HAVE 3.950 BILLION SHARES COMPARED TO LAST QTR 5.902 BILLION SHARES. DO NOT KNOW WHERE SUDDENLY NOSH DROPS BY 2 BILLION.??? I CHECK THEIR ANNOUCEMENT, NO NEW ESOS OR PP OR ANY CAPITAL REDUCTION BUT OUR NOSH SUDDENLY DROPPED TO 3.950 BILLION.
The Group registered a revenue of RM4.3 million in the current quarter ended 30 June 2022. The revenue was
contirbuted substantially from the Portfolio Investment Segment, which was 93% of the total revenue. The revenue for
Portfolio Investment Segment was mainly derived from the selling of short term marketable securities. Besides, the
Financial Assistance Services Segment contributed 6% of the total revenue.
The Group recorded a loss before taxation of RM51.1 million in the current quarter ended 30 June 2022. This was mainly
due to the fair value loss on the marketable securities of RM34.9 million. Besides, there was an impairment loss of RM6.9
million and RM4.8 million on the investment of unquoted shares and trade and other receivables, respectively.

Posted by Musang King > 4 weeks ago | Report Abuse

NOTHING GOOD. FURTHER LOSSES DUE TO FAIR VALUE INVESTMENT LOSS. OUR CASH BALANCE DEPLETING
AND I NOTICE SOMETHING WRONG IN OUR I3 REPORTING HERE. I3 REPORTS WE NOW HAVE 3.950 BILLION SHARES COMPARED TO LAST QTR 5.902 BILLION SHARES. DO NOT KNOW WHERE SUDDENLY NOSH DROPS BY 2 BILLION.??? I CHECK THEIR ANNOUCEMENT, NO NEW ESOS OR PP OR ANY CAPITAL REDUCTION BUT OUR NOSH SUDDENLY DROPPED TO 3.950 BILLION.

THERE WAS NO REPORT ON THE LATEST SALE OF 2 DRIPPING LINES TO JOE GLOVE, BUT THERE WAS SOME LOSSES DUE TO PERSONAL UNSECURED LOAN DEFAULT GIVEN TO SOME SPECIAL PERSONAL FRIENDS OF FINTEC. I GUESS. FINTEC DIRECTORS MUST ANSWER THESE UNSECURED PERSONAL LOANS GIVEN OUT.


The Group registered a revenue of RM4.3 million in the current quarter ended 30 June 2022. The revenue was
contirbuted substantially from the Portfolio Investment Segment, which was 93% of the total revenue. The revenue for
Portfolio Investment Segment was mainly derived from the selling of short term marketable securities. Besides, the
Financial Assistance Services Segment contributed 6% of the total revenue.
The Group recorded a loss before taxation of RM51.1 million in the current quarter ended 30 June 2022. This was mainly
due to the fair value loss on the marketable securities of RM34.9 million. Besides, there was an impairment loss of RM6.9
million and RM4.8 million on the investment of unquoted shares and trade and other receivables, respectively.

Good123

14,984 posts

Posted by Good123 > 4 weeks ago | Report Abuse

Quarterly rpt on consolidated results for the financial period ended 30 Jun 2022
FINTEC GLOBAL BERHAD

Financial Year End 30 Jun 2022
Quarter 4 Qtr
Quarterly report for the financial period ended 30 Jun 2022
The figures have not been audited
Attachments
FINTEC - 4Q2022 Financial Results.pdf
218.8 kB
Default CurrencyOther Currency
Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2022

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2022
30 Jun 2021
30 Jun 2022
30 Jun 2021
$$'000
$$'000
$$'000
$$'000
1 Revenue
4,306
0
19,256
0
2 Profit/(loss) before tax
-51,095
0
-86,449
0
3 Profit/(loss) for the period
-51,095
0
-86,449
0
4 Profit/(loss) attributable to ordinary equity holders of the parent
-50,958
0
-86,250
0
5 Basic earnings/(loss) per share (Subunit)
-1.29
0.00
-1.59
0.00
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.0415
0.0734

Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

Country Base Unit Subunit
Malaysia Ringgit Sen
United States Dollar Cent
United Kingdom Pound Pence

Announcement Info
Company Name FINTEC GLOBAL BERHAD
Stock Name FINTEC
Date Announced 30 Aug 2022
Category Financial Results
Reference Number FRA-25082022-00108

Good123

14,984 posts

Posted by Good123 > 4 weeks ago | Report Abuse

Failure in share manipulation and speculation? :)

Quarterly rpt on consolidated results for the financial period ended 30 Jun 2022
FINTEC GLOBAL BERHAD

Financial Year End 30 Jun 2022
Quarter 4 Qtr
Quarterly report for the financial period ended 30 Jun 2022
The figures have not been audited
Attachments
FINTEC - 4Q2022 Financial Results.pdf
218.8 kB
Default CurrencyOther Currency
Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2022

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2022
30 Jun 2021
30 Jun 2022
30 Jun 2021
$$'000
$$'000
$$'000
$$'000
1 Revenue
4,306
0
19,256
0
2 Profit/(loss) before tax
-51,095
0
-86,449
0
3 Profit/(loss) for the period
-51,095
0
-86,449
0
4 Profit/(loss) attributable to ordinary equity holders of the parent
-50,958
0
-86,250
0
5 Basic earnings/(loss) per share (Subunit)
-1.29
0.00
-1.59
0.00
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.0415
0.0734

Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

Country Base Unit Subunit
Malaysia Ringgit Sen
United States Dollar Cent
United Kingdom Pound Pence

Announcement Info
Company Name FINTEC GLOBAL BERHAD
Stock Name FINTEC
Date Announced 30 Aug 2022
Category Financial Results
Reference Number FRA-25082022-00108

Posted by Musang King > 3 weeks ago | Report Abuse

Thanks Admin. Fintec NOSH is back to 5,923 Million again updated today.

Good123

14,984 posts

Posted by Good123 > 3 weeks ago | Report Abuse

Giliran pengarah2 fintec kena kot?


KUALA LUMPUR (Sept 1): Bursa Malaysia Securities Bhd has publicly reprimanded Anzo Holdings Bhd and three of its directors for breaches of the Bursa Malaysia
Securities Main Market Listing Requirements (LR).

The three directors were imposed a total fine of RM300,000 for breaches of related-party transactions (RPTs) and failure to notify shareholders of operations diversification.

Managing director Datuk Chai Woon Chet was fined RM150,000.

Meanwhile, former independent non-executive chairman Datuk Seri Abdul Azim Mohd and former independent non-executive director Chong Khing Chung were fined RM75,000 each. The duo resigned on May 30 and June 1 this year.

“Bursa Malaysia Securities views the contraventions seriously, as the requirements to make an immediate announcement of material information and obtain prior shareholders’ approval for material RPTs and diversification in operations are fundamental to aid investors to make informed investment decisions, protect the interest of shareholders and allow them an opportunity to consider, in a timely manner, transactions which have the potential of adversely affecting their interests,” the regulator said.

Anzo failed to make an immediate announcement on the supply agreement with CSTME Resources Sdn Bhd (CSTME) for the supply of copper scrap, which was approved by the board on June 16, 2020. The deal was only announced on June 25, 2020.

The company failed to issue a circular and obtain shareholders’ prior approval in relation to the deal; and to appoint an independent adviser and a main adviser before the terms of the deal were agreed upon.

With regard to the diversification of the existing business to include trading of industrial products, Bursa said Anzo failed to obtain prior shareholders’ approval.

The regulator reminded Anzo and its board of directors of their responsibility to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public.

Anzo’s share price closed unchanged at 1.5 sen on Thursday (Sept 1), valuing it at RM16.74 million.

Good123

14,984 posts

Posted by Good123 > 3 weeks ago | Report Abuse

More to come :)


KUALA LUMPUR: Bursa Malaysia has reprimanded Pasdec Holdings Bhd and seven of its directors for breaching the Main Market listing requirements.

Bursa said in a statement that the seven directors were imposed total fines of RM468,000.

The directors included Tan Sri Zulkiple Kassim who was fined RM61,800, Datuk Sri Tew Kim Thin and Tew Kim Kiat with fines totalling RM79,500 each.

Other directors were Sharina Bahrin, Datuk Sri Sharifuddin Ab. Ghani, Dauk Kamarul Arifin Ahmad @ Abd Rahman and Datuk Mohd Faizal Jaafar who were all fined a total of RM61,800 each.

Bursa noted Pasdec was reprimanded for failing to issue the annual report that included the audited financial statements together with the auditors' and directors' reports for the financial year ended Dec 31, 2019 (FY19) within the extended timeframe of July 31, 2020.

The company had only issued the annual report on October 27 2020, after a delay of 59 market days.

The company also failed to ensure that its fourth quarterly report for FY19 announced on Feb 28, 2020 took into account the adjustments stated in its announcement dated Oct 27, 2020.

"Pasdec had reported an unaudited loss attributable to owners of the company of RM16.362 million in the quarterly report announced on February 28, 2020 as compared to an audited loss attributable to owners of the company of RM27.502 million in the audited financial statements for FY19 announced on October 27, 2020.

"The difference of RM11.14 million represented a variance of 68.1 per cent," it said.

Bursa said Pasdec was required to carry out a limited review on its quarterly report submission.

"The limited review must be performed by the company's external auditors for four quarterly reports commencing no later from the quarterly report for the financial period ended September 30, 2022.

"In addition, Pasdec must ensure that all the seven directors and its relevant personnel attend a training programme in relation to compliance with the Main listing requirements pertaining to financial statements," it said.

Posted by shiningmoon > 3 weeks ago | Report Abuse

PASDEC have connection with Fintec ?

Posted by shiningmoon > 3 weeks ago | Report Abuse

No point for Good123, to keep posting those in Fintec group. If Fintec is con company, let SC do their job. U are not SC. What you are doing here isn't helping a single bit for Investors.

Posted by Musang King > 3 weeks ago | Report Abuse

BLee. looks like Ageson and Mtronic going backward again. They were strong only for a while.

BLee

621 posts

Posted by BLee > 3 weeks ago | Report Abuse

@Musang King: BLee. looks like Ageson and Mtronic going backward again. They were strong only for a while.

BLee: Hi @Musang King, for the last few days I have been busy discussing/learning on hedging, putting aside Ageson and have not studied on Mtronic. After UMA, Ageson momentum slowed, and needed "News" to regain the momentum. How is your queue buying half sen for Fintec and it's PA? No luck as no seller for quite awhile?
I had some luck with Focus-D PA yesterday, managed to "hedge" some at half sen during the sell down. No luck today as I could not get any from my other IB account.
Happy Trading and TradeAtYourOwnRisk

Good123

14,984 posts

Posted by Good123 > 2 weeks ago | Report Abuse

Duit pemegang syer minoriti diselewengkan, dll... Tunggu siasatan kot? :)



0150 FINTEC FINTEC GLOBAL BERHAD
Quarterly rpt on consolidated results for the financial period ended 30/06/2022
Quarter: 4th Quarter
Financial Year End: 30/06/2022
Report Status: Unaudited
Submitted By:
Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
30/06/2022 30/06/2021 30/06/2022 30/06/2021
RM '000 RM '000 RM '000 RM '000
1 Revenue 4,306 0 19,256 0
2 Profit/Loss Before Tax -51,095 0 -86,449 0
3 Profit/(loss) attributable to ordinary equity holders of the parent -50,958 0 -86,250 0
4 Net Profit/Loss For The Period -51,095 0 -86,449 0
5 Basic Earnings/Loss Per Shares (sen) -1.29 0.00 -1.59 0.00
6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00
As At End of Current Quarter As At Preceding Financial Year End
7 Net Assets Per Share (RM) 0.0415 0.0734
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

30/08/2022 07:00 AM


Ref Code: 202208303100279

Posted by Musang King > 2 weeks ago | Report Abuse

BLee. Queue everyday by placing buy call at 0.005 on GTD till month end. So far, none collected. Maybe have to wait for another panic selling, then only can get. Afterall half sen, it would not go south anymore.

BLee

621 posts

Posted by BLee > 2 weeks ago | Report Abuse

@Musang King: BLee. Queue everyday by placing buy call at 0.005 on GTD till month end. So far, none collected…

BLee: Hi @Musang King, when we have taken an investment position, either way, we will not be too concerned. Up, we can collect the bounty. Down, we can average down or take a quick profit if we get buyers at higher value.
I noticed some bids prior to Morning or Noon Trade, purposely putting a buy bid of 1 sen at lower volume than seller bid of half sen, hoping for a matching at half sen. The risk will be if the half sen bid pulls out in the last few seconds, the trade will be matched at 1 sen. Don't mind doing that if I intend to "hedge" more…
Happy Trading and TradeAtYourOwnRisk

Posted by Musang King > 2 weeks ago | Report Abuse

Why put sell bid at half sen when there are over 600 millions shares waiting to buy every day? isn't it a Fool of himself if he didn't pull out his half sen sell bid before the clock touches the Morning and Afternoon starting trade. SIMPLE DO NOT UNDERSTAND WHY UNLESS THERE IS A BUY BID AT 1.0 SEN IN HUGE AMOUNT. AND HE WANTED TO GET HIS SELL BID DONE FIRST AT 1.0 SEN EVEN THOUGH HE PLACED HIS SELL BID AT HALF A SEN.

M55555

422 posts

Posted by M55555 > 2 weeks ago | Report Abuse

So much a so called financials before technology. No wifi ?

Good123

14,984 posts

Posted by Good123 > 2 weeks ago | Report Abuse

jika SC Singapore yang menyiasat geng fintec, barangkali, puak ni dah bersama najib dalam jel dah haha

Michael R.

4,204 posts

Posted by Michael R. > 2 weeks ago | Report Abuse

Already low? No.. consolidate may come and 0.010 could still be very expensive...

Posted by whistlebower99 > 1 week ago | Report Abuse

FOR NEWBIES

NEXGRAM is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

This announcement is dated 14 September 2022.

===================
Be careful trading high NOSH low price penny stocks

Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants

List of penny stocks with shares consolidation :-

2022 in progress - NEXGRAM, MNC, MERIDIAN, LKL, IMPIANA, FAST, VSOLAR

2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX,

BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........

====================
TAYOR, don't be caught in share consolidation exercise

Posted by Musang King > 1 day ago | Report Abuse

See liao lor. Fintec touching the lowest ever price of RM0.005 . WW3 comimg.

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