Posted by firehawk > 2020-11-22 14:58 | Report Abuse

The 2021 budget：
I'm not hoping it is passed,
I'm not hoping it is failed.
I just observe and see could experience anything new ..... :D

For Jaks,
I'm not hoping it rises,
I'm not hoping it drops,
I just observe and to act accordingly, after all, big boss also react on how many tickets on his hand .... :D

Big boss sometime would catch you out of expectation, like reversed the RI subscription price, after all, why he proposed the new revised version? and then reverse to the old one?

Is up to the authority allow this to be happened ... as a small investor, maybe observe and act accordingly is the most feasible way .... :-)

Posted by Sslee > 2020-11-22 15:12 | Report Abuse

Haha maybe I complaint so much on dilutive billions of new shares with free warrants that is why last minute Big Boss push up the price to do RI at 22 cents (1.6 new shares with 0.8 free warrant) instead of 12 cents (3 new shares with 1.5 free warrant)

Posted by Sslee > 2020-11-22 17:15 | Report Abuse

Haha deMusangking,
Just email this out:

Dear IR@JAKS,
Thank you for answering my questions on PROPOSED DISPOSAL BY JAKS SDN BHD (“JSB”), A WHOLLY-OWNED SUBSIDIARY OF JRB, OF ITS ENTIRE 510,000 ORDINARY SHARES (“SALE SHARES”), REPRESENTING 51% OF EQUITY INTEREST IN JAKS ISLAND CIRCLE SDN BHD (“JIC”) FOR A TOTAL CASH CONSIDERATION OF RM1.00 (“DISPOSAL CONSIDERATION”) (“PROPOSED DISPOSAL”)

Please convey my congratulations to the JAKS Board and Management on the successful conclusion of JAKS Rights Issue.

By the way I am still waiting for JAKS Board or Management reply, which of my submitted in advance questions for JAKS 18th AGM fall into either of the following reasons:-
1. in answering the questions, it would not result in a fair and orderly dissemination of information to the market as required under the Bursa listing rules;
2. confidential and/or price sensitive in nature;
3. involves speculation or matters that cannot be ascertained accurately;
4. beyond the scope of shareholder communication;
5. Inappropriate, unreasonable, or irrelevant and hence the Company is not obligated to answer the question; or
6. Inaccurate interpretation or misunderstanding of the facts and matters and hence does not warrant a response from the Company.

Thank you

Dear SC, Bursa and Tricor Investor and Issuing House,
I refer to below Bursa announcement:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3106130
On behalf of the Board, Kenanga IB wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on Thursday, 12 November 2020, the total valid acceptances and the total valid excess applications for the Rights Issue with Warrants were 1,390,222,757 Rights Shares, which represents a subscription of 128.71% over the total number of 1,080,101,412 Rights Shares available for subscription under the Rights Issue with Warrants, the details of which are set out below:-
No. of Rights Shares %
Total valid acceptances 1,047,585,317 96.99
Total valid excess applications 342,637,440 31.72
Total valid acceptances and total valid excess applications 1,390,222,757 128.71
Total Rights Shares available for subscription 1,080,101,412 100.00
Over-subscription 310,121,345 28.71

The subscription data showed (1,080,101,412- 1,047,585,317) = 32,516,095 RI was not subscribed by the entitle shareholders, which is illogical since these entitle shareholders should sold their JAKS-OR if they do not wish to subscribe their RI.

Can TRICOR investigate the reasons why these entitled shareholders did not sell their entitlement Rights (JAKS-OR) if they do not want to subscribe to their RI. Can the reasons be due to?
1. Wrong address and hence the shareholders were not aware of the RI.
2. Ignorance that JAKS-OR will be automatically converted to JAKS new shares with free warrant.

May I suggest, RI subscription form sent to shareholders should carry the warning: You are given a window from (which date to which date) to sell your JAKS-OR on Bursa open market if you do not wish to subscribe for your RI. After the subscription date any unsubscribed OR will be given to those who apply for excess application.

Lastly with reference to SC announcement: https://www.sc.com.my/resources/media-releases-and-announcements/enhanced-general-mandate-for-pro-rata-rights-issue-to-expedite-secondary-fund-raising-for-eligible-listed-issuers
For instance, the eligible listed issuers must have controlling securities holders who will provide an irrevocable undertaking to subscribe for their full entitlements, with not more than a 30% discount to the theoretical ex-rights price on these newly issued shares or units.

It is my hope that SC and Bursa will make this temporary relief measure not more than a 30% discount to the theoretical ex-rights price into permanent measure on Rights Issue.

I had to admit I sold almost all my JAKS shares at a loss as I was spooked by the proposed super dilutive Rights Issue: 1 for 3 Right Shares (2,413,662,345 Rights Shares) with 1.5 free Warrant (1,206,831,172 free warrant) at 12 cents per Right Shares which was later amended as Rights Issues: 1 for 1.6 Rights Shares with 0.8 free warrants at 22 cents per Rights Shares.

Thank you

Posted by FaridIsland > 2020-11-22 17:21 | Report Abuse

Woww..my gf jaks flying!...later no more below .70

Posted by DK > 2020-11-22 17:33 | Report Abuse

Dear Sslee, regret to hear that you sold at a loss because of fear that Jaks will do a 3:1 RI. We should not act on assumptions. You do not have good opinion of ALP, that is why you presumed the worst.

I agree that Jaks RI proposal with undetermined entitlement basis is bad for investors as it is difficult to make decision based on the information given. It is worst for the margin account holders as huge price adjustment on ex-date will cause their accounts to face margin calls immediately.

Nonetheless, however imperfect the RI proposal is, It is my opinion that we should still only act on confirmed news.

Posted by KLou88 > 2020-11-22 19:42 | Report Abuse

By looking at the chart, it cannot break bottom, instead going up, something is coming.

Posted by James Ng > 2020-11-22 21:16 | Report Abuse

https://klse.i3investor.com/blogs/general/2020-11-22-story-h1536554267.jsp
[转贴] [Video:浅谈JAKS RESOURCES BHD, JAKS, 4723] - James的股票投资James Share Investing

Posted by firehawk > 2020-11-22 21:54 | Report Abuse

Quite shocked someone was teased because "act on assumption" ...assumption ..... :D :D

By the time 3:1 RI was announced (09Sep) , there was already a discrepancy there! The price then, was around 0.80, at this price, the additional WB to be issued pursuant to the RI would be 158m. According to announcement earlier dated 27Aug, the additional WB applied (to Bursa) for listing was 152m, So, how? Can allot more additional WB than the amount applied to Bursa?

FYI, @0.75, the additional WB to be allotted pursuant to the RI is 153m, still more than the amount applied to Bursa! The lower the VWAMP, the less additional WB would be allotted ..... Let everyone think of this and what it implies .... it is no good to make assumptions :D

######

Believe it or not, WB holders are the lucky ones, if use VWAMP @0.80, bought WB @0.50, assume 40% premium (refer to the point the WB bought @0.80), under the RI:
a) 1.6 :1 ; WB would earn around 8% ;
b) 3:1, WB would loss -43.45% !

so, the reverse of RI is actually "saves" the WB holders. and what happened subsequently (last 2 weeks), i think no need for me to talk much ..... :-)

Posted by firehawk > 2020-11-22 22:02 | Report Abuse

I think manipulators will not come out and say they are manipulators, even when faced to court they pledge no guilty ..... :D

Posted by DK > 2020-11-22 22:10 | Report Abuse

firehawk, could you elaborate on "FYI, @0.75, the additional WB to be allotted pursuant to the RI is 153m, still more than the amount applied to Bursa! " Thanks

-------------------------
firehawk Quite shocked someone was teased because "act on assumption" ...assumption ..... :D :D

By the time 3:1 RI was announced (09Sep) , there was already a discrepancy there! The price then, was around 0.80, at this price, the additional WB to be issued pursuant to the RI would be 158m. According to announcement earlier dated 27Aug, the additional WB applied (to Bursa) for listing was 152m, So, how? Can allot more additional WB than the amount applied to Bursa?

FYI, @0.75, the additional WB to be allotted pursuant to the RI is 153m, still more than the amount applied to Bursa! The lower the VWAMP, the less additional WB would be allotted ..... Let everyone think of this and what it implies .... it is no good to make assumptions :D

######

Believe it or not, WB holders are the lucky ones, if use VWAMP @0.80, bought WB @0.50, assume 40% premium (refer to the point the WB bought @0.80), under the RI:
a) 1.6 :1 ; WB would earn around 8% ;
b) 3:1, WB would loss -43.45% !

so, the reverse of RI is actually "saves" the WB holders. and what happened subsequently (last 2 weeks), i think no need for me to talk much ..... :-)
22/11/2020 9:54 PM

Posted by DK > 2020-11-22 22:14 | Report Abuse

I believe the 5 days VWAMP of Jaks during price fixing dates was 0.91

Posted by firehawk > 2020-11-22 22:16 | Report Abuse

On 26Oct, it was announced that Ratio of WB allotment is 0.8964 : 1.0000, this is not following SOP. Many people know the RI would be fully subscribed or even oversubscribed (bcos it it cheap @0.22), but, after all, this is an assumption, just cannot announce before the subscription closed, this is not following SOP.

A lot of mess in this RI !

Posted by DK > 2020-11-22 22:23 | Report Abuse

I agree with firehawk on this, the announcement of WB allotment is NOT supposed to be done before the right issue subscription is finalised. This is because if the RI is not fully subscribed, the number of additional WB to be allotted will be less.

----------------
firehawk On 26Oct, it was announced that Ratio of WB allotment is 0.8964 : 1.0000, this is not following SOP. Many people know the RI would be fully subscribed or even oversubscribed (bcos it it cheap @0.22), but, after all, this is an assumption, just cannot announce before the subscription closed, this is not following SOP.

A lot of mess in this RI !
22/11/2020 10:16 PM

Posted by firehawk > 2020-11-22 22:29 | Report Abuse

How about the 0.80? By the time I calculated this, I took the price around 09Sep, when the 3:1 RI announced, include the VWAMP. After all, this is an academic issue now, bcos it was later 34m LTIP was announced, I just want to show the discrepancy was already there!

-----------------------------------
Posted by DK > Nov 22, 2020 10:10 PM | Report Abuse

firehawk, could you elaborate on "FYI, @0.75, the additional WB to be allotted pursuant to the RI is 153m, still more than the amount applied to Bursa! " Thanks

Posted by DK > 2020-11-22 22:34 | Report Abuse

As far as I know, the basis for allotment of additional WB does not depend on the VWAMP.

-------------------
firehawk How about the 0.80? By the time I calculated this, I took the price around 09Sep, when the 3:1 RI announced, include the VWAMP. After all, this is an academic issue now, bcos it was later 34m LTIP was announced, I just want to show the discrepancy was already there!

Posted by DK > 2020-11-22 22:38 | Report Abuse

However, the allotment of additional WB depends heavily on the basis of RI entitlement.

Posted by DK > 2020-11-22 22:40 | Report Abuse

You may refer to the circular to warrantholders of EA Holdings in 2014 as a guide.

Posted by DK > 2020-11-22 22:41 | Report Abuse

In any case, Jaks should be issuing the circular to WB holders very soon.

Posted by DK > 2020-11-22 23:07 | Report Abuse

Yes, VWAMP is used to determine the TERP

Posted by DK > 2020-11-22 23:08 | Report Abuse

But TERP does not play a role in WB allotment as well

Posted by firehawk > 2020-11-22 23:09 | Report Abuse

just now checked, it does! The C
--------------------------------------
DK As far as I know, the basis for allotment of additional WB does not depend on the VWAMP.

Posted by DK > 2020-11-22 23:22 | Report Abuse

I believe this "C" is the 5 days VWAMP of market price before the announcement of RI proposal. Some use prior day's market price instead of 5 days VWAMP.

--------------------
firehawk just now checked, it does! The C
22/11/2020 11:21 PM

Posted by firehawk > 2020-11-22 23:38 | Report Abuse

What i mean is, when the 3:1 RI announced, if we take the VWAMP at that moment, it will result the additional WB allotted more than the application made to Bursa! In the other words, big boss must interfere, to change something, to make it comply!

There are many ways to solve this, and finally boss choose to reverse to the old version.
and the final VWAMP is 0.91.

-------------------------------------------
DK I believe this "C" is the 5 days VWAMP of market price before the announcement of RI proposal. Some use the market price instead of VWAMP.

Posted by DK > 2020-11-22 23:41 | Report Abuse

Those interested in the progress of JHDP maybe visit;

https://mp.weixin.qq.com/s/4yc6Ql7d79Ck9sQw-9zpBA

Posted by DK > 2020-11-22 23:49 | Report Abuse

firehawk, I think I get the point you are trying to make. You are trying to say the company already predetermine certain parameters to be used in determining the ratio of additional WB. right ?

Thanks for the explanation

----------------------------
firehawk What i mean is, when the 3:1 RI announced, if we take the VWAMP at that moment, it will result the additional WB allotted more than the application made to Bursa! In the other words, big boss must interfere, to change something, to make it comply!

Posted by i3lurker > 2020-11-23 00:10 | Report Abuse

firehawk

you are just too extremely subtle
newbies just wun understand that you are telling them NOT to buy.

BY right warrant premium or discount CANNOT be affected by any and all corporate exercises.
Actually I had never seen unfairness in warrants before.
BY left the real world is different and unfairness may and could happen.

BY market disclosure basis, BURSA and SC do not approve anything, company makes FULL disclosure and the Public decides to buy or sell or not buy or not sell.

If warrant premium and discounts are affected by corporate exercises, on the theory and basis of Market Disclosure, you just do not get involved.
Of course sslee has different ideas.
Anyway he has got token holdings.
I believe if he is heavily invested to the tune of millions, he will sue already.

Posted by Sslee > 2020-11-23 07:55 | Report Abuse

Good morning i3lurker,
Can KYY talk the talk and walk the walk?

Useful Guidelines for a better life - Koon Yew Yin
Author: Koon Yew Yin Publish date: Sun, 22 Nov 2020, 12:47 PM

At my age of 88 years, I am still learning new things every day. I have seen so many things that very few things can really surprise me. Sometime when I cannot control my own ego, I do not like to consider other people’s opinion and I cannot learn anything new.

Whenever I post any article, I notice very few people disagree with me and I do not learn anything new. Please don’t be afraid to express your opinion so that we can discuss to find a mutually accepted answer.

Lifelong learning helps people to make their life more interesting and be more effective in helping others. Over the years, I have learned so many things which I would like to share with you.

Posted by i3lurker > 2020-11-23 08:11 | Report Abuse

sslee

I dun bother to read any of KYY articles for many many years already.
its a total waste of time.
I see the headlines of KYY articles very often, no choice thingy.
I am quite amused by the AT pump, he dropped this like a hot potato very fast.
The victims of his pumps are damaged forever.
Even Jaks could jolly well have a long term price of 65 sen after 10 years.

On the same note. I stopped reading any of ShitFool comments on Jaks after he decided to slaughter newbies after RI was confirmed from cashflow but not announced yet.
As predicted, many newbies loss money after RI announcement.

On the same note, I dun look at your BFF portfolio or try not to read anything he writes as well.
Sometimes he just inserts himself between my posts so no choice.

I just do what I do
I can lose RM50,000.00 on a fine day
and thats ok
coz on the same day I can also gain RM51,000.00 of more.

I like to pull people's leg
so many years ago I was telling Calvin I loss RM70,000.00 on Eversendai,
and he was so happy that I lost money he quoted this "fact" for many many years.
I just left out the information that on the same day the loss was matched by another gain. ha ha ha

You will be surprised, a lot of people here at i3 are very happy if you lose money.

Posted by Karlos > 2020-11-23 08:37 | Report Abuse

Some people do look forward to joys of schadenfreude ! Cant avoid it as there are always sadistic people who find joys in others' misfortune.

Posted by Sslee > 2020-11-23 08:49 | Report Abuse

Haha if i3lurker loss RM 70,000 in Eversendai, it will be the most amazing and greatest news of all. I will go out celebrate with more Bintang Beer and lobster.

Posted by Sslee > 2020-11-23 08:52 | Report Abuse

And by the way I think KYY loss million in Eversendai because the CEO is such a wonderful sweet talker.

Posted by mf > 2020-11-23 08:52 |

Post removed.Why?

Posted by DK > 2020-11-23 09:56 | Report Abuse

https://klse.i3investor.com/blogs/Jaks%20resources/2020-11-23-story-h1536548440-Jaks_Resources_Using_MFCB_as_Valuation_Guide.jsp

Posted by i3lurker > 2020-11-23 10:06 | Report Abuse

sslee

the objective is to have a Net GAIN

I only expect to be right 50.01% of the time so losing money 49.99 % of the time is expected.

like you said, you win some and you lose some.

Posted by fluffyclouds > 2020-11-23 14:29 | Report Abuse

These allotments/ additional shares will they impact the current share price ?

Posted by firehawk > 2020-11-23 16:18 | Report Abuse

i3lurker firehawk

you are just too extremely subtle
newbies just wun understand that you are telling them NOT to buy.
-----------------------------------------------------
Ha Ha! I just can't tell them like that, the consequence is simple, if they miss the chance to make money, they will blame me ..... Jaks does swing up and down wildly, there are pros and cons, everyone makes and responsible for their own decision :-)

Posted by firehawk > 2020-11-23 16:31 | Report Abuse

DK firehawk, I think I get the point you are trying to make. You are trying to say the company already predetermine certain parameters to be used in determining the ratio of additional WB. right ?
--------------------------------------------------
Almost. To make it short, when the RI revised to 3:1, the default parameters at that moment, are not comply to the application made to Bursa. Surely, some parameters have to be changed, and the boss chose to revert to old version, that is the most credibility damaging act ..... :-(

Posted by firehawk > 2020-11-23 16:33 | Report Abuse

Just FYI .... kyy lost 64m in Jaks .......

Posted by Sslee > 2020-11-23 16:33 | Report Abuse

Available/Listing Date 26 Nov 2020
Rights Securities will be listed and quoted as the existing securities of the same class

Posted by DK > 2020-11-23 16:57 | Report Abuse

in all fairness, the RI proposal did not specify the entitlement basis. It is all speculation by investors.

Posted by firehawk > 2020-11-23 17:14 | Report Abuse

Since proposals did not specify the entitlement basis, i wonder why the co. announced so many versions? what is the purpose? :D :D :D

Posted by firehawk > 2020-11-23 17:17 | Report Abuse

what are the differences between versions, other than entitlement basis and issue price? :-)

Posted by DK > 2020-11-23 17:23 | Report Abuse

There was only one revised version to increase the min proceeds from RM130m to 200m.

Posted by firehawk > 2020-11-23 17:25 | Report Abuse

:-) :-) :-)

Posted by awesome20 > 2020-11-23 20:35 | Report Abuse

tomorrow rebound from 0.605

Posted by Sslee > 2020-11-24 09:21 | Report Abuse

DK in all fairness, the RI proposal did not specify the entitlement basis. It is all speculation by investors.
23/11/2020 4:57 PM.

Haha it more like manipulation by big ticket holders to fix the RI price with insiders help.

Posted by lamching > 2020-11-24 19:23 | Report Abuse

Market really bad, my jaks also dropped today :(

Posted by Sslee > 2020-11-25 07:54 | Report Abuse

Good morning deMusangking,
Insas reported Q1 NP to SH of 65.315 million with 2 cents dividend.
When will JAKS give dividend?

Posted by lamching > 2020-11-25 08:25 | Report Abuse

So today up or down ?

Posted by Psng1215 > 2020-11-25 08:43 | Report Abuse

Good morning sslee,

Do you see something.....
Insas reported profit of 65 mil. Around 50% is from disposing of share for their Profit making associate.

What will be the profit source in the future?