Posted by LossAversion > 2021-01-13 10:11 | Report Abuse

@Hotboy
Long forgotten stock...kept in pantry!

Posted by Why_ > 2021-01-13 11:44 | Report Abuse

Cheapest gloves nobody want?

Hotboy Any idea for tis stock ?
13/01/2021 10:10 AM

Posted by Why_ > 2021-01-13 11:47 | Report Abuse

AT, Inix, Mahsing all got gloves already not Fintec?

Posted by Ding HL Allan > 2021-01-13 12:41 | Report Abuse

Buy and accumulate more Fintec. Make your money and keep quiet. There are huge and tonnes of money to make. Just buy and keep quiet. OK. Understand. Cheers.

Posted by firehawk > 2021-01-13 17:10 | Report Abuse

pushed up the price is for RI, after RI eat yourself

Posted by sausagex99 > 2021-01-14 10:43 | Report Abuse

fintec cheapcheap

Posted by Bgt 9963 > 2021-01-14 10:45 | Report Abuse

Money game...counter...!

Posted by sausagex99 > 2021-01-15 15:45 | Report Abuse

Fly looooo

Posted by AlfI3 > 2021-01-18 07:08 | Report Abuse

8 sen looks like a stable barrier for quite a long while thus far, irrespective whether it involves in glove making or not

Posted by Loh Kok Wai W > 2021-01-18 10:48 | Report Abuse

老千股。。。。。。Old Thousand counter.

Posted by Bgt 9963 > 2021-01-18 10:49 | Report Abuse

Skim cepat kaya...!

Posted by Thanos21 > 2021-01-18 12:15 | Report Abuse

long time already so lazy to move up

Posted by Edwardong53 > 2021-01-18 13:23 | Report Abuse

Can any one pls list the companies in Bursa which are related to Fintec. thanks

Posted by Reap88 > 2021-01-18 13:36 | Report Abuse

Please read Fintec latest AR for details of
KLSE companies that Fintec have invested

Posted by Musang King > 2021-01-18 17:13 | Report Abuse

The Edge cover FINTEC.

Turkey Of The Year: The rally in penny stocks and their subsequent plunge
TheEdge Tue, Jan 05, 2021 03:30pm - 4 days ago


IN September this year, The Edge ran a piece titled “Hidden hands behind penny stock surge”, which showed the relationship between 21 companies, all connected via similar shareholders and/or directors and all exhibiting unusual peaks and troughs, jolting share prices for no apparent reason.

Behind these companies is an individual or a small group of individuals controlling things and making a mockery of corporate governance standards.

Interestingly enough, it is understood that there are about 40 companies controlled by the hidden hands.

At the apex of the maze of companies is Fintec Global Bhd, a company that does not have a core business except to act as an incubator. On Fintec’s website, it says, “The name ‘Fintec’ mirrors our motto of ‘financials before technology’, that is, we first and foremost look to the existing and/or potential financial performances of the companies in need of capital injections before all other merits such as technology, business nature and business plan are considered.”

According to its annual report, it has investments in start-ups but it is worth noting that Fintec also invests in several small-cap, publicly traded companies.

Companies under Fintec’s belt include Saudee Group Bhd (21.55%), AT Systematization Bhd (28.29%) and Focus Dynamics Group Bhd (25.04%). There are also companies such as Green Ocean Corp Bhd and Trive Property Group Bhd, in which Fintec has indirect stakes via Saudee Group and AT Systematization. It is also noteworthy that at end-November, Fintec ceased to be a substantial shareholder of NetX Holdings Bhd.

Some of these companies, such as Fintec and AT Systematization, were in the news for announcing new ventures, including into glove making. It remains to be seen whether they are successful in these ventures.

Nevertheless, Fintec’s “jewel in the crown” is Focus Dynamics, which operates seven food and beverage outlets. It mustered a net profit of RM7.26 million from RM42.88 million in revenue for the nine months ended September this year. Despite having accumulated losses of RM40.26 million, Focus Dynamics at the time of writing was trading at 65 sen, giving the company a market capitalisation of almost RM4 billion, and was listed on the MSCI global small-cap indices last month.

Whether such a high market value is justified for a company that raked in RM7 million in net profits is questionable. So far this year, Focus Dynamics’ share price has shot up more than 390% from 13 sen as at end-2019, with no apparent reason for the meteoric rise.

Just prior to this article, Fintec pocketed RM26.74 million in cash, selling 768.15 million of Focus Dynamic’s warrants on the open market.

This year alone, Fintec has completed two share placements and one rights issue with free warrants, raising RM182.6 million. Note that as a reprieve to companies hit by the pandemic, Bursa Malaysia relaxed the rules on private placements, allowing listed companies to place out not more than 20% of the total issued shares, from the existing 10%, until Dec 31, 2021 — subject to shareholders’ approval.

Most of the companies in which Fintec invests are loss-making and small in terms of market capitalisation, and seem to lack a clear business direction or strategy.

Other stocks (besides Focus Dynamics) that have shown simi­lar gains but plummeted include loss-making Anzo Holdings Bhd, a company dealing in timber products that gained more than 1,000% from mid-May to hit a high of 26 sen in July. It closed at 8.5 sen on Dec 23, losing 67% from the peak.

PDZ Holdings Bhd, an ailing shipping company, was trading at one sen in mid-March but, at end-June, it gained more than 500% to reach its peak of 32.5 sen this year — a remarkable feat, considering it is mired in lawsuits and has no significant shipping assets. Closing at 7.5 sen on Dec 23, it is down 77% from the peak.

Meanwhile, loss-making XOX Bhd, which is involved in cellular telecommunication services, gained more than 430% from mid-July to hit a high of 39.5 sen at end-August. In mid-March, XOX was trading at one sen.

Anzo, PDZ and XOX are linked to Fintec via its directors. All three companies have announced corporate exercises, including placements of shares and rights issues.

Meanwhile, Saudee Group’s stock hit a low of eight sen on March 17, but picked up momentum in June to hit a 52-week high of 67 sen on Aug 13, gaining more than 300%. It closed at 50 sen on Dec 23 — down 25% from the peak.

While there is reason to believe that the regulators are indeed looking into the companies and their erratic share price movements, and that the authorities have actually commenced investigations, it is unclear whether there will be any follow-up action aside from an unusual market activity (UMA) query by the exchange.

Posted by alan123 on 10/1/2021 above. Replying to Edwardong53

Posted by Bgt 9963 > 2021-01-18 17:19 |

Post removed.Why?

Posted by thaiR123 > 2021-01-18 17:47 | Report Abuse

Does anyone know the progress of the glove factory?

Posted by Thanos21 > 2021-01-18 17:49 | Report Abuse

Wow, that's quite alarming

Posted by AlfI3 > 2021-01-18 23:37 | Report Abuse

May God bless d investors sail thru d adverse write up abt Fintech. Nonetheless, now Fintech is cash rich w funds raised frm d RI for gloves manufac will not b fragiled; but wud excell well inline w the prospective recovery rides

Posted by Why_ > 2021-01-20 10:28 | Report Abuse

Focus, AT even gain no sell is stable but why must keep loss QR Komark?

Posted by Why_ > 2021-01-20 10:29 | Report Abuse

Komark(gain >100%) no sell is good? Everyday Komark like drop after free W over.

Posted by Why_ > 2021-01-20 10:33 | Report Abuse

less than RI 8 sen also good for you?

AlfI3 May God bless d investors sail thru d adverse write up abt Fintech. Nonetheless, now Fintech is cash rich w funds raised frm d RI for gloves manufac will not b fragiled; but wud excell well inline w the prospective recovery rides
18/01/2021 11:37 PM

Posted by Why_ > 2021-01-20 10:34 | Report Abuse

AlfI3 you just bought <7.5 sen so no complain? Nobody here bought RI 8 sen so happy?

Posted by Why_ > 2021-01-20 10:36 | Report Abuse

If Jaks RI 22 sen many happy why Fintec RI not same?

Posted by Why_ > 2021-01-20 10:40 | Report Abuse

If profit RM 700 million last QR only 7.5 sen what if 2021 QR is loss? 7 sen & < next?

Posted by Why_ > 2021-01-20 11:05 | Report Abuse

last QR BOD said want to reduce gap between NTA and share price what happened?

Posted by Why_ > 2021-01-20 11:27 | Report Abuse

Fintec facebook so few comments so 8 sen q sell is i3 members?

Posted by Why_ > 2021-01-20 11:30 | Report Abuse

Top 10 shareholders not even holding 10%?

suraya 25 NOV 2020 FINTEC GLOBAL BERHAD 10 largest shares holder

1.Adamas Finance Asia Ltd 31,840,000 ~ 2.26%
2.Ong Kim Leng 15,920,000 ~ 1.13%
3.Ong Eng Taik 14,270,000 ~ 1.01%
4.Tan Seng Chee 12,000,000 ~ 0.85%
5.Piong Yon Wee 10,200,000 ~ 0.72 %
6.Bu Yaw Seng 9,000,000 ~ 0.64%
7.Ho Ah Chai 6,600,000 ~ 0.47%
8.Teh Bee Khay 6,500,000 ~ 0.46 %
9.Eng Hong Palm Oil Mill Sdn. Bhd. 6,500,000 ~ 0.46%
10.Low Min Hing 6,400,000 ~ 0.45%
11/01/2021 10:47 AM

Posted by Why_ > 2021-01-20 11:31 | Report Abuse

NTA 91 sen(before RI) vs 7.5 sen BOD did good job?

Posted by Bgt 9963 > 2021-01-20 11:44 | Report Abuse

Money game counter....!

Posted by Thanos21 > 2021-01-20 14:28 | Report Abuse

Bgt9963 so true

Posted by Fintec > 2021-01-20 15:40 | Report Abuse

7.5 sen done today i3 members sold? Why no more comments to defend?

Posted by Fintec > 2021-01-20 15:41 | Report Abuse

Go to other forums sure got defenders why none in Fintec? No more Fintec so don't bother?

Posted by Fintec > 2021-01-20 15:42 | Report Abuse

paultan, Uptrendwave sold who else?

Posted by Fintec > 2021-01-20 15:44 | Report Abuse

kkl123 also no more?

Posted by Fintec > 2021-01-20 15:47 | Report Abuse

RI 24.99% oversubscribed but all sold after selling free W?

Posted by Musang King > 2021-01-20 17:58 | Report Abuse

If Fintec directors not buying Fintec, who dares to buy. 7.5 sen is half sen below RI of 8 sen.

Posted by Musang King > 2021-01-20 18:00 | Report Abuse

Everybody will be rushing to buy Fintec if the Fintec directors do it first. So simple an answer.

Posted by bjgdila123 > 2021-01-20 18:33 | Report Abuse

Hampeh BOD

Posted by Thanos21 > 2021-01-20 20:39 | Report Abuse

Fintec bod kedekut maa..

Posted by Fintec > 2021-01-20 21:12 | Report Abuse

Why dare not talk other ctr? Is Fintec only 1 kedekut?

Thanos21 Fintec bod kedekut maa..
20/01/2021 8:39 PM

Posted by ZoomUp > 2021-01-20 22:10 | Report Abuse

https://www.malaymail.com/news/money/2021/01/20/fintec-unit-reaches-agreement-to-supply-gloves-in-europe/1942423

Posted by Survivor13 > 2021-01-21 08:41 | Report Abuse

rewarded time. Limit up

Posted by loverguitar18 > 2021-01-21 10:03 | Report Abuse

Hmmm seems like this company makes its profit on paper based on its investment in publicly traded firms like AT, Saudee, PDZ, etc. Ultimately, it has minimal business by itself and not much cash flow. Can it have the potential to go up?

Posted by AAAwell > 2021-01-21 10:05 | Report Abuse

Heard today operator Nak push above 10c

Posted by Bgt 9963 > 2021-01-21 10:06 | Report Abuse

Money game..counter...!

Posted by RJ87 > 2021-01-21 10:06 | Report Abuse

Fintec got glove factory liao mer?

at what stage liao now?

Posted by jlex11 > 2021-01-21 10:12 | Report Abuse

welcome back the naysayers and sifus.....let see who will prevail...

Cheers guys & good luck..

Posted by PH_better > 2021-01-21 10:13 | Report Abuse

Many sour grape like PN govn?

Posted by PH_better > 2021-01-21 10:15 | Report Abuse

RJ87 why dare not ask Inix, Mahsing, etc? They cheaper than Fintec?