Posted by liyam > 2 months ago | Report Abuse

From the anouncement, restraining order was granted by court due to substantial support



From the previous company announcement, restraining order granted by court due to substantial support by its scheme creditors. Hopefully alam managed to get through this distress.

Posted by Robert Waters > 2 months ago | Report Abuse

If creditors support debtors then no enforcement action can be taken. Obviously, this is NOT the case. RHB filed petition now restrained. So I doubt they supported any proposed SoA (Scheme of Arrangement). I believe they were restrained to make such agreement possible rather than selling off the company assets.

Also, profits in the earnings must be made AFTER debts were paid in accordance with the regularisation plan and the scheme for company to be consider for uplift. Profits now do not help. On the contrary, why company making profit is NOT paying debts ? Looks like evasion. Regularisation Plan has not even been presented as you point. So we are years away from this event.

I advise you to look at Scomi Energies. The company was making a profit, paid creditors per agreement but it got delisted and shares are worth nothing. Equity ratio critera need to be satisfied too. Alam too, may pay all debts and still be delisted if equity is not high enough. Alam Maritim Resources Berhad has a total shareholder equity of MYR-53.9M - NEGATIVE.

Let us hope that delisting will not be the outcome for Alam.

Posted by Hew Kiong Peng George > 2 months ago | Report Abuse

Co is selling its osv ships to pay off debts, plus osv chartered rate are keep increasing, I believe alam can survive

Posted by jemi2020 > 2 months ago | Report Abuse

Alam will survive because revenue still increasing & paying the current tax. I believe the new CFO doing the right thing. Selling the old vessel & paying the debt about 30 million & the debt already decreased. Maybe take time to out from PN17. This company still have prospect because main contractor for petronas.

Posted by jemi2020 > 2 months ago | Report Abuse

The shareholding equity was negetive cause by inheritance of losess retained earning due to big amount impairment of not use vessel in covid era. In accounting, if you sell this vessel, you will addback the impairment losses and the shareholding equity will be improve. For you information, before covid, before COVID, Alam maritim had 40 vessel - as per 2018 & 2019 annual report.

Posted by Robert Waters > 2 months ago | Report Abuse

Alam has reported that revenue DECREASED from 136 to 63 million in last period. There is no free cash flow to pay off debt. So I believe that they can only secure funds by selling ships at fireside prices. Still hope that they have a plan, but unfortunately they do not share is with stakeholders, as there is no regularisation plan as yet.

Posted by liyam > 2 months ago | Report Abuse

If compared with same quarter in 2023,revenue is increased with huge profits,its a good sign as 4 quarters green consecutively .I believe they can come up with a regularization plan.

Posted by jemi2020 > 2 months ago | Report Abuse

Still can buy in lowest price at 2.5cent. Please read the quarter announcement & annual report.

Posted by raymondroy > 2 months ago | Report Abuse

Amazingly alam has reported a 18.5m profit, against YoY loss of 11m, and QoQ profit of 2.7m..... but part of the 18.5m profit is an exceptional items gains of 15m that seems to be a one off gain perhaps sale of assets? Otherwise the profit is only 3.5m..... not all that impressive, but on the road to recovery.... surely the current share price is unjustified :-)

Posted by zenbeginner > 2 months ago | Report Abuse

Why so? No market interest until regularisation plan in place?

Posted by axe123 > 2 months ago | Report Abuse

anyone else is stuck in this stock? sadge

Posted by axe123 > 2 months ago | Report Abuse

i was about to swing at 0.04 but didnt expect my all capitals to be stuck for a year. haihh.

Posted by axe123 > 2 months ago | Report Abuse

holding power boys just sit back and relax.

Posted by whistlebower99 > 2 months ago |

Post removed.Why?

Posted by bullrun168 > 2 months ago | Report Abuse

Admin, please block/remove /delete this Shark Syndicate whistlebower99,
he and his gangs keep spam all the bad things to all the counters in i3 to pressure small inivestors to sell cheap cheap and at a hugh losses to them so that they can making hugh tonnes of profits !

Admin, it's time now for your to block/remove /delete all the posting of :
XXXXX is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

List of penny stocks with shares consolidation :-

2024 in progress - XXXXX
2024 completed - XXXXX
2023 completed = XXXXX
2022 - XXXXX
BEFORE 2022 - XXXXX,.........

Posted by axe123 > 2 months ago | Report Abuse

any updates on this stock?

Posted by axe123 > 2 months ago | Report Abuse

price seems to be always at 3 cents
compared to last time which was 2-2.5 cents

Posted by axe123 > 2 months ago | Report Abuse

i just need it to go to 4 so i can get the f out i went in on 3.5 how about you?

Posted by axe123 > 2 months ago | Report Abuse

well if you do sell at 3 theres no profit why not grab abit when you decide to exit? aint know way im getting out without a tiny bit of profit

Posted by jemi2020 > 2 months ago | Report Abuse

Can buy this counter if you have holding power. I stuck at this counter at 0.08 cents for three years. Still patient waiting the price going up..

Posted by bullrun168 > 2 months ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Alam today !
Now Alam was traded at @0.035 (+0.01) (+40 %)

Heng ah, Ong ah, Huat ah !

Posted by axe123 > 2 months ago | Report Abuse

COME ON 4 CENTS

Posted by axe123 > 2 months ago | Report Abuse

mr robert whats your tp here?

Posted by bullrun168 > 2 months ago | Report Abuse

My t.p is 20 cents !

Heng ah, Ong ah, Huat ah !

Posted by bullrun168 > 2 months ago | Report Abuse

Wow, Amazing !
Now Hublinie was traded at @0.075 (+0.035) (+87.5 %)

Heng ah, Ong ah, Huat ah !

Posted by Hew Kiong Peng George > 2 months ago | Report Abuse

Tp 10sen in 6 months

Posted by zenbeginner > 2 months ago | Report Abuse

bullrun168
My t.p is 20 cents !
Heng ah, Ong ah, Huat ah !
———————————————
I want some of what you are smoking……LoL

Posted by bullrun168 > 2 months ago | Report Abuse

Wow, oil price was spike up like mad !
Brent closed at=>
$81.63 +$2.01 +2.52 %

Like that today Alam will be limit up already to closed at =>
0.335 (+0.30) (+857.1 %) !

Heng ah, Ong ah, Huat ah !

Posted by Pandu1 > 2 months ago | Report Abuse

Today tradingview recommended a buy on this stock. Ive been keeping it for sometime without price movement. Recently @ d co published it net profit of Rm23.9 million, the price started to move. I bought more @ 3 sen to average up the price to 3.1 sen. Now @ 3.5 sen im having paper profit of 11.82%. To my opinion after keeping it for so long, y not keep it until i can reap a good profit. Just my 2 sen idea.

Posted by axe123 > 2 months ago | Report Abuse

why wouldnt this stock just blowup already haiya already 1 year stagnant at same price cb

Posted by Pandu1 > 2 months ago | Report Abuse

axe123. Recently @ d co published it net profit of Rm23.9 million (from 2 million loss) the price n vol started to move. Further more SC has granted them 5 more months to submit regularisation plan to exit from Pn17.

Posted by Pandu1 > 2 months ago | Report Abuse

This is penny stock All. From early this year AM has been hovering frm 3.5 sen to 2 sen. Now its back to 3.5 sen, meaning n increase of 75%. If it breached the 4 sen barrier meaning 100% increase. If we x 1000 times we can further visualise d price movement is great. i.e from Rm2 to Rm3.5 n Rm4. From Rm200,000 to Rm350,000 n Rm400,000. Thats alot of money All.

Posted by Pandu1 > 2 months ago | Report Abuse

Since its a penny stock it will take time to reach the peak. When more people will come in to buy. Phaps the foreigners.

Posted by Pandu1 > 2 months ago | Report Abuse

Now the vol is only 4.5mil. Just wait for all The Big Short to come in when the vol will shoot between 10 to 20 mil.

Posted by Pandu1 > 2 months ago | Report Abuse

My target is 4 sen n above. Tayor.

Posted by Pandu1 > 2 months ago | Report Abuse

axe123. Recently @ d co published it net profit of Rm23.9 million (from 2 million loss) the price n vol started to move. Further more SC has granted them 5 more months to submit regularisation plan to exit from Pn17.
The Company has 5 months to submit the regularisation plan to the regulatory authorities for approval.
This announcement is dated 4 June 2024.

Posted by Robert Waters > 2 months ago | Report Abuse

Hi Pandu. I calculated time when this company will leave PN17. If all goes well, in early 2027. Here is my reasoning.
____________________________
Long Way to Financial Recovery (PN17 Process)

Bursa Malaysia has a special process for companies in distress called PN17 status. It stands for Practice Note 17/2005. Any PN17 company that triggered PN17 criteria must:

1. Regularize its condition within 12 months.
2. Submit a regularization plan.
3. Implement the plan.

The contents of the regularisation plan need to address the triggering conditions. Typical exercises performed to regularize the conditions are:

• Settlement of debts with creditors
• Reduction of capital to cancel accumulated losses
• Onboarding of new investors (white knights) via issuance of new shares
• Sale of assets
• Issuance of free warrants and right shares to retain old investors
• Establishment of an Employees Share Scheme (ESS)

The time required to achieve uplift from PN17 status is difficult to estimate as any part of the process may take longer than planned. The minimum length to complete the key steps on the road to normality is shown below:

• Approval of the Regularisation Plan by Bursa 3 months
• EGM Approval of the Plan by shareholders 3 months
• Implementation of the Plan 12 months
• 2 positive quarters AFTER the Plan implementation 6 months
• Application and uplift of the PN17 status 3 months

GRAND TOTAL …………… 27 MONTHS

So, if everything plays out right, investors will be reaping handsome profits in 27 months, or about 2 years from the time that the Plan is submitted. Not exactly very soon. And that is, if everything goes well.

Posted by bullrun168 > 2 months ago | Report Abuse

Alam’s Road Map to exit from PN17
——————————————————-
Jun 2014 => 5 more months to submit regularisation plan.
July 2014 => 4 more months to submit regularisation plan.
Aug 2014 => 3 more months to submit regularisation plan.
On 31-8-2024=> 3rd QR 2024 released (Positive QR)
Sep 2014 => 2 more months to submit regularisation plan.
Oct 2014 => 1 more months to submit regularisation plan.

I strongly believe that Alam will be lifted from PN17 anytime from now…
The latest date the official announcement by the management to submit regularisation plan might be after the superb profitable of 3rd QR which will be released on 31-8-2024 and the management might be as late as early or middle of October announced Alam will submit it’s regularisation plan to SC !

On that time once Alam announced this superb good news, Alam’s share price definitely will be immediately shooting up like rocket to at least break above 20 cents !

Heng ah, Ong ah, Huat ah !

Posted by axe123 > 2 months ago | Report Abuse

why need 27 months? wont a stock simply start to sky rocket asap when it comes out of pn 17 due to undervalue?

Posted by Pandu1 > 2 months ago | Report Abuse

Robert Waters👍👍👍👍. Ill sell @3.5sen lh to reap some profit. In order to sell @ 3.5sen, d price sb bid 3.5 n ask 4sen.

Posted by Pandu1 > 2 months ago | Report Abuse

bullrun168. Another alternative to sell @ 3.5sen is to monitor the next few Fin Reports. If +, ill keep until i had enough to let go the shares. Cos i love to keep tight good performing companies.

Posted by Pandu1 > 2 months ago | Report Abuse

bullrun168. Aiyoo 20sen wo. 567% profit wo.

Posted by Pandu1 > 2 months ago | Report Abuse

From 3 sen to 20 sen wo. From rm300,000 to rm2million wo.

Posted by Pandu1 > 2 months ago | Report Abuse

Can buy a sport car wo

Posted by Pandu1 > 2 months ago | Report Abuse

Heng ah, Ong ah, Huat ah !

Posted by Pandu1 > 2 months ago | Report Abuse

Now Trading View still recommend Buy!

Posted by axe123 > 2 months ago | Report Abuse

hopefully tmrow brings good news!

Posted by Robert Waters > 2 months ago | Report Abuse

We just had earnings that were good.
Price is up, substantially over a week, too.
Regularisation plan delayed till October.

What other positive news you expect ?

Posted by axe123 > 2 months ago | Report Abuse

4 cents hahaha

Posted by Pandu1 > 2 months ago | Report Abuse

bullrun168. 3rd 1/4 as 31/3 released. Waiting for 30/6 fin year.