Posted by wachin > 2012-12-17 10:19 | Report Abuse

waiting capital repayment, around 0.60 cash and kenanga shares

Posted by qianhuik22 > 2012-12-17 11:31 | Report Abuse

any idea why this morning the stock dropped?

Posted by wachin > 2012-12-17 11:38 | Report Abuse

i think status PN17 make some ppls panic

Posted by tcleng > 2012-12-17 13:18 | Report Abuse

No way, it will give more money back to you...if we hold it tight, right?

Posted by tansrihew > 2012-12-17 14:21 | Report Abuse

i'm just waiting for my capital repayment.

Posted by wachin > 2012-12-17 14:33 | Report Abuse

ya...but dont know why keep dropping now

Posted by Fasterom > 2012-12-17 14:48 | Report Abuse

yup because of PN17 status ...panic selling...

Posted by wachin > 2012-12-17 14:52 | Report Abuse

still waiting for entitlement date of capital repayment

Posted by tcleng > 2012-12-21 10:25 | Report Abuse

PANIC SELLING LEH

Posted by kevin > 2012-12-21 10:37 | Report Abuse

is this share still worth to buy?

Posted by tcleng > 2012-12-21 10:40 | Report Abuse

don't know leh, as i know, it will have capital repayment at least 0.50 cents

Posted by kevin > 2012-12-21 10:42 | Report Abuse

look like the price will fall further to 0.7+ level.

Posted by winwinwin > 2012-12-21 15:04 | Report Abuse

Paying back 67.6 cents worth of cash & shares.....close both eyes & buy !

Posted by kcchongnz > 2012-12-21 15:04 | Report Abuse

http://www.intellecpoint.com/

Posted by kevin > 2012-12-21 15:12 | Report Abuse

serious investing....seriously?? buying??

Posted by winwinwin > 2012-12-21 15:17 | Report Abuse

after X...its left with 17.4 cts (assuming you buy at 85), The NTA still has 55.5 cents....its stake in E&O is already more than double that of 17.4 ! It also has stakes in Ancom & pelikan.

Posted by winwinwin > 2012-12-21 15:19 | Report Abuse

Its boss Lim Kian Oon has been sweeping the stock every now & then...he knows the best value in the stock !

Posted by minitrader > 2012-12-21 15:30 | Report Abuse

WHEELER DEALER...

Posted by hooi > 2012-12-21 15:35 | Report Abuse

Bought ECM at 0.85

Posted by winwinwin > 2012-12-21 15:40 | Report Abuse

Good ! Buy me teh tarik after X ! he he

Posted by minitrader > 2012-12-21 15:42 | Report Abuse

dropping further...lol

Posted by winwinwin > 2012-12-21 15:48 | Report Abuse

ECM entered PN 17 today...but it also has a fishy announcement :

The Company wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had today informed that ECMLFG is not considered a Cash Company pursuant to Paragraph 8.03(1) of the Main Market Listing Requirements of Bursa Securities subject to the Company completing the Proposed Capital Repayment via the cash distribution and distribution-in-specie of the KNKH Shares and RULS (Series A) to the entitled shareholders of the Company.

I suspect what it means is that once the pay-out is done....it might be out of PN 17 ?

Posted by ejtic > 2012-12-21 17:42 | Report Abuse

Friday, December 21, 2012
ECM: Efficiently Constructed Market?

Today's trading in ECM can actually tell that there are a lot ignorance in the market. I believe the market should read more and trade less which to me is not happening now. Lots of information are readily available. A reader highlighted to me that ECM's stock symbol is to be traded in "red" from today onwards as it is now a PN17 company and he is worried. I never suspected a company that is to be admitted into the PN17 category will immediately trigger selling no matter what reason as it's symbol will be highlighted with red color font. Its the fundamental, not the color that determines the stock.

PN17 triggering the stock marked red
In fact, I said can buy more as the fundamental remains the same while the stock now becomes cheaper. One should already know this as ECM has already pre-empted shareholders way before during the announcement on the merger.

What is the PN17 for? Note: Not all PN17s are all that bad

From the exercise, as below, shareholders will be getting a total RM0.676 worth of cash, ICULs of Kenanga and some small shares of Kenanga. The main attraction is the cash of RM0.534 per share. ECM is traded at RM0.85 now. The distribution of RM0.676 will be completed by next month - 31 Jan 2013, which is what is mentioned by ECM, and I trust that it will happen as the Kenanga deal is already completed.

Upon the distribution, ECM will be having a RM0.38 of Net Tangible Asset (NTA) per share with RM0.32 in liquid assets (cash and ICULS).

Hence, if we are doing the math - with the RM0.676 distribution, at RM0.85, the stock will be quite in the money (RM0.85 - RM0.676 = RM0.174). Assuming it is trading at a discount of 30%, it is still in the money. I am not holding this stock for long though as I think the company is going the Private Equity route judging from the purchase of Pelikan's shares. Its directors were formerly investment bankers and PE people anyway - that's what they do best.

Hey, within a few months we should be getting back almost all our money with some small profits possibly. This is almost a "cigar butt theory" as what Graham says - the cigar butt that's thrown on the ground can still last few more good puffs - if only you are willing to pick it up.

What is left at ECM
Note:
It is easy to find out what's left of ECM as after the distribution of RM0.676 per share, the company will still keep RM265 million worth of cash and ICULs from Kenanga. From the below balance sheet, ECM has already highlighted what they are to dispose off from the sale. Just take out the one in red box and intangibles as well (not sure what it is). What's left in the cash and ICULs add back to the assets - liabilities, that's what you get from ECM. But beware, it is a company with no real business.

Posted by minitrader > 2012-12-21 18:56 | Report Abuse

never like ECM nor its mgt...not surprised if it went to PN17....

Posted by kuff_ng > 2012-12-22 02:45 | Report Abuse

Hooi: what's ur tp for ECM ?

Posted by hooi > 2012-12-22 14:03 | Report Abuse

0.90

Posted by ejtic > 2012-12-27 18:51 | Report Abuse

Choong: Confirm & to be paid in Jan. Lu sudah jadi kaya sekarang..

Posted by schan60 > 2012-12-28 09:32 | Report Abuse

Ejtic: if I buy in ECM today do I get distribution of RM0.676 per share?

Posted by ejtic > 2012-12-28 13:56 | Report Abuse

I think so as it has not been declared when is the x date. May reconfirm with your remisier. Look out for the entitlement announcement soon in Bursa website.

Posted by ak2899 > 2013-01-20 15:54 | Report Abuse

ECM LIBRA FINANCIAL GROUP BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT
Description ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG” OR “COMPANY”)
MONTHLY ANNOUNCEMENT ON THE STATUS OF THE COMPANY'S PLAN TO REGULARISE ITS CONDITION PURSUANT TO PRACTICE NOTE NO. 17 ("PN 17") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

Further to the First Announcement made by the Company on 14 December 2012, the Board of ECMLFG wishes to inform that the Company is evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").

The Company has approximately eleven (11) months to submit its Regularisation Plan to the authorities for approval.

The Company triggered paragraph 2.1 (g) of the PN 17 criteria by virtue of the disposal of its investment banking business (“Disposal”). Arising from the Disposal, ECMLFG has a healthy cash position and also does not carry any long term liabilities.

In this respect, the Board of ECMLFG wishes to reiterate that the Company and its subsidiaries (the “Group”) continue to have the financial and operational resources to carry out the Group’s remaining business operations. However, as a result of the Disposal, the remaining revenue from the Company’s wholly-owned fund management subsidiary, Libra Invest Berhad (“LIB”), represents less than 5% of the Company’s existing issued and paid-up capital, and as such LIB, as the remaining major business of the Group, is currently deemed to have insignificant business or operations. <B>After the Capital Repayment by the Company, which is expected to be completed within the first quarter of the financial year ending 31 January 2014</B>, LIB’s revenue will contribute more significantly vis-à-vis the then reduced issued and paid-up capital of the Company.

LIB is a fund management company which holds a Capital Markets Services Licence issued by the Securities Commission to manage clients’ assets. Clients’ funds are kept in a trust account with licensed institutions or in the case of LIB’s unit trust funds, LIB has entered into trust deeds with the respective trustees where the trustee acts as custodian of the assets of the funds and holds the assets in trust for the unitholders. As the Board of ECMLFG continues to consider various avenues to uplift the PN17 status, LIB will continue its business operations as usual.


This announcement is dated 2 January 2013.

Posted by tommylou > 2013-02-01 23:27 | Report Abuse

Common Lim Kian Onn.....!! Focus, focus....

Posted by tommylou > 2013-02-01 23:57 | Report Abuse

Your timing are all out for your 2 biggest investment thus faltering......this is big time ....no change over...focus focus.....common!

Posted by tcleng > 2013-02-19 22:27 | Report Abuse

How is ECM?

Posted by jtpc2006 > 2013-02-20 15:18 | Report Abuse

ECM confirmed all proposals for capital repayment and consolidations, the wait is over. After this, we still get KNKH shares, really good deal.

Posted by ejtic > 2013-02-20 21:22 | Report Abuse

Huat ah...... ong ah.....

Posted by chung > 2013-02-20 23:54 | Report Abuse

Deal not that clear
is the ECM still listed in Bursa or will delisted replace by KNKH share ?
what the par Value for KNKH share ?
show call securities firm to comfirm all this before rush to jump in...

Posted by ak2899 > 2013-02-22 00:42 | Report Abuse

Yeah ....Distribution-in-specie of KNKH Shares are unclear , which date will be the actual date that we shareholder get the KNKH share ?

Posted by necro > 2013-02-22 01:39 | Report Abuse

after cap repayment Ecm goes to share spilt where 1 shares split to 32.4Shares(1shares split to 32.4)wonder what is it price...
if u hold 1000shares it goes to 3240shares then it goes to shares considalation of 100shares consildate to 1shares,previous 3240 shares then become 32.4shares u hold after this exerciSe...what the price of ecm after dis exercise?17cents?same case like KassetS?goreng?....

Hurmmm..

Posted by jtpc2006 > 2013-02-22 10:37 | Report Abuse

that means for every 1000 shares after receiving the capital repayment, then splitting and consolidating, we will hold ECM 32.4 shares, plus KNKH share (do you know know many KNKH shares?)

Posted by necro > 2013-02-22 10:39 | Report Abuse

Jt if u hold 1000ecm then consilidate to 32.4shares the KENANGA share u hold is 144..

Posted by necro > 2013-02-22 10:41 | Report Abuse

Plus ECM ICULS worth RM57.00 but the most hard to release...u must open an SPECIAL ACCOUNT...

Posted by jtpc2006 > 2013-02-22 10:46 | Report Abuse

necro, thanks.
So, I will have finally 144 KNKH shares (what about the ECM 32.4 shares still got?). The ECM ICULs, really so much steps to get, why they cant think of giving out as cash with the capital repayment?

Posted by necro > 2013-02-22 10:52 | Report Abuse

Kawan u will capital repayment worth RM534 for 1000shares of ecm,144KENANGA and ICULS worth RM57...
after dat u 1000ecm shares consilidate to 32.4 shares only...
wat the price ofKNKH u will receive is myBIGGEST CONCERN before buy ECM...is it worth at RM0.085 per share at allotments KNKH share or around RM0.50 we see rite now...gulppp

Posted by necro > 2013-02-22 10:54 | Report Abuse

Remember u still got ecm shares which 32.4shares instead of 1000shares u bought b4...

Posted by jalenheng > 2013-02-22 10:59 | Report Abuse

Newbie here. If 1000 share ( now worth RM 850 ), after consolidate to 32.4 share , what does the original 1000 share worth?

Posted by jtpc2006 > 2013-02-22 11:56 | Report Abuse

necro, again thanks. Now clear, I will receive RM534, 144Kenanga, ICULs worth RM57 and also have ECG 32.4 shares.
Actually the ICULS really what a way to go, I meant give it out together with the RM534.

Posted by necro > 2013-02-22 14:50 | Report Abuse

Jalen and jtc i dont know wat d price after or at the date of share considilation...

Posted by ak2899 > 2013-02-24 01:01 | Report Abuse

predicted the value of RM0.60 for the share Price after ex.

Posted by lemonchan > 2013-02-27 11:43 | Report Abuse

i believe for every 1000 ecm,after cash dstribution/consolidation,left wth 324shrs not 32.4.

Posted by ak2899 > 2013-03-06 09:21 | Report Abuse

yes 324 share.