Posted by King8888 > 2020-09-05 09:51 | Report Abuse

Is good news, the price go higher. company expand and earn money. That is proposing only. Dun worry

Posted by Jackthejeep > 2020-09-05 09:57 | Report Abuse

I will thank those who throw cheap tickets out, a good company, rising from 0.04 from March all the way to 0.16 now in just few months

Mind you. this company rising steadily, no big up big drop, not like those fake conman counters kena goreng kao kao

Posted by charlie chia > 2020-09-05 10:20 | Report Abuse

https://www.klsescreener.com/v2/news/view/724109

Posted by charlie chia > 2020-09-05 10:20 | Report Abuse

Fintec Global Bhd is planning a rights issue with free warrants — on a five rights issue with four free warrants for every five existing Fintec shares held — to raise funds to venture into the manufacturing of medical grade nitrile gloves with the initial setting up of a factory with 12 glove-dipping lines, which will cost RM81.9 million.

The issue price of the rights shares has yet to be fixed, but at an indicative price of 8 sen per share, the technology incubator hopes to raise at least RM15 million from the cash call. To meet the minimum subscription level, Fintec has procured an undertaking from its executive director Tan Sik Eek, to apply and subscribe in full for his rights entitlement, and any additional rights shares not taken up by other entitled shareholders to the extent that at least RM15 million is raised from the exercise.

Posted by charlie chia > 2020-09-05 10:22 | Report Abuse

Right issue indicate at 8 Cts not 4 cts

Posted by Bemillion > 2020-09-05 10:32 | Report Abuse

Good or bad for trades like us

Posted by Jeffreyteck > 2020-09-05 10:53 | Report Abuse

Smart management as it is always smart to ask for $$$ from SHs when market is still hot.

Posted by Razordota > 2020-09-05 11:26 | Report Abuse

sorry, I'm newbie to this kind of corporate exercise. So, if I have existing share, we need buy additional share to prevent share get dilute?

Posted by BetterTomorrow > 2020-09-05 11:54 | Report Abuse

Another suspicion job is in the making, fintec via it few controlling listed companies have been announced in manufacturing of glove, mask and etc fake news. I am not here to spoil their exercise but an incubator company turnover mostly generated from buy and selling of related shares, basically legal manipulator. Why they sudden go into manufacturing which is consider tough biz. I believe it is rather using this idea to raise fund then make a variation later for other purpose I. E buy and sell related listed Co and to create artificial profit. This is my personal opinion. But is a creative method and yet legal way to get public fund.

Posted by theJ1986 > 2020-09-05 13:48 | Report Abuse

Hi, what happened to the PA holder? shd they convert to mother share to entitle for the right issue?

Posted by Fong Kh > 2020-09-05 14:00 | Report Abuse

Maybe they look forward to supply the glove that useable in fnb industry. Haha

Posted by Bilibulo > 2020-09-05 15:28 | Report Abuse

Glove industry is at peak now. Yes the profit margin is great now but it will take at least a few years to start glove manufacturing line from scratch. All major glove producers are ramping up production to meet rising demand. By the time Fintec starts to produce gloves, do you think there is still strong demand like now? And what do you think other major glove producers will do to fight for market share?

Fintec has been making so much of profits but they have never declared dividends. In contrast, they perform right issue to ask for more fund. Why are they doing that? What happened to all the declared profit?

Google right issue and check some of the companies who had right issue recently. See what happened to those share prices.

Posted by pineapple123 > 2020-09-05 15:46 | Report Abuse

Look at permaju

Posted by TradeNewBie > 2020-09-05 15:58 | Report Abuse

haiz ..so disappointed

Posted by charlie chia > 2020-09-05 16:04 | Report Abuse

Pls question them at the coming AGM on 30 sept

Posted by TradeNewBie > 2020-09-05 16:24 | Report Abuse

Monday surely up up to convince people the proposal

Posted by TradeNewBie > 2020-09-05 16:24 | Report Abuse

just sell focus to raise money lar

Posted by Sales > 2020-09-05 16:24 | Report Abuse

Made so much profit, still ask for right issue.

Posted by Sales > 2020-09-05 16:25 | Report Abuse

Luckily took profit.

Posted by Huat1 > 2020-09-05 16:30 | Report Abuse

You guys seriously believe that this is a good investment company you want to invest in???

Posted by Huat1 > 2020-09-05 16:30 | Report Abuse

Be very careful with your hard earned money

Posted by punterking > 2020-09-05 18:36 | Report Abuse

Made so much money, lots of reserve funds, no dividend/bonus declared. Calling for right issues in order to milk shareholders. What type of f..k..g company. Stay away from this type of scammer company. On papers look good. Agreed with Huat1, investors will lose their hard-earned money. After the right issues....I can't imagine what comes next to again milk the investors. Track records showed the company takes but never give. Wtf

Posted by yip_8988 > 2020-09-05 18:44 | Report Abuse

Selangor and KL no water, Fintec ask for water.

Posted by chankyew50 > 2020-09-05 18:48 | Report Abuse

After the completion of the proposed Right Issue, the current conversion price of 16 sens will need to be adjusted accordingly.
The current conversion price is 16 sens. PA face value is 8 sens. Conversion now is 2xPA for 1x Fintec or 1xPA + 8 sens for 1xFintec.
After the proposed Right Issue, for illustration let's assumed that the conversion price is revised from 16 sens to say 12 sens, the revised conversion will be 3xPA (3x8sen) for 2xFintec (2x12sen) or 1xPA(8sen) + 4 sens cash for 1xFintec(12sen)

Posted by yip_8988 > 2020-09-05 18:50 | Report Abuse

Earning per share 16 cts didn't give dividend and bonus shares now come and ask shareholders for money. FUNNY.

Posted by chankyew50 > 2020-09-05 18:54 | Report Abuse

Similarly the current conversion rate of 15 sens for Fintec-WB will be reduced accordingly to a new conversion rate using some formula.

Posted by punterking > 2020-09-05 19:07 | Report Abuse

Be careful. No dividend/bonus declared some more asking for money. Wtf

Posted by King8888 > 2020-09-05 19:47 | Report Abuse

All this proposal only, the need few month to apply in bursa. Enjoy they goreng untill 30 cents

Posted by TradeNewBie > 2020-09-05 20:15 | Report Abuse

agreed with king8888
definitely they goreng up the price

Posted by TradeNewBie > 2020-09-05 20:15 | Report Abuse

the higher price ..the higher cash they have

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

in a way...it is blessing in disguise

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

mana tau...they called off the proposal

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

they are scammers

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

hahahhaa

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

goreng to 50 cents even better

Posted by TradeNewBie > 2020-09-05 20:16 | Report Abuse

huat ah

Posted by TradeNewBie > 2020-09-05 20:18 | Report Abuse

Monday .up up up

Posted by TradeNewBie > 2020-09-05 20:18 | Report Abuse

limit up

Posted by Akino Tok Tok > 2020-09-05 20:24 | Report Abuse

A lot of dreamers here. Good Sign.

Posted by bausokchai > 2020-09-05 20:25 | Report Abuse

They Don't paid dividend. Because its just accounting profit. No cash flow. So now ask for cash for further investment.

Posted by mmk79 > 2020-09-05 20:30 | Report Abuse

limit up or limit down?? hahahahaha......nowaday whichever counter ask money sure lao sai

Posted by Onechoon > 2020-09-05 20:30 | Report Abuse

Moving forward..... Not Much to worried about this counter.....

Posted by TradeNewBie > 2020-09-05 20:43 | Report Abuse

seriously if limit down...will they be able to raise cash??

Posted by TradeNewBie > 2020-09-05 20:45 | Report Abuse

can someone give some idea

Posted by TradeNewBie > 2020-09-05 20:45 | Report Abuse

cos I am new

Posted by angelo > 2020-09-05 20:52 | Report Abuse

Pls avoid this counter. If this company is good n have good prospects, its share price will trade above 35 cts n not below 17 cts as it is now.

Posted by mmk79 > 2020-09-05 21:05 | Report Abuse

@tradenewbie, Fintec only paper gain, profit show so fantastic but no dividend given, and somemore ask u to pump in money for them to use. What kind of rubbish company is this? no wonder so low p/e like red stock.

Posted by pineapple123 > 2020-09-05 21:06 | Report Abuse

Direction will be once the RI is established, Fintec will move ahead of 20c. Just be patient. 15mil for start up of fintec gloves I think it’s just another news. Realistically, this 15mil will be utilise to push up the price of current Fintec.

Posted by pineapple123 > 2020-09-05 21:08 | Report Abuse

Correction. To raise 82mil. This is huge sum

Posted by Killsthebear > 2020-09-05 21:14 | Report Abuse

raise more fund to goreng other stocks..

penny alliance