Posted by mickaelp > 2013-11-18 15:23 | Report Abuse

diarrhoea...

Posted by Qiii > 2013-11-18 17:37 | Report Abuse

From the trades today, it looks like contra exit.

Posted by bella5 > 2013-11-18 18:01 | Report Abuse

??? I don't understand what contra exit is. Care to share?

Posted by Qiii > 2013-11-18 18:13 | Report Abuse

Punters on contra have to settle their trades within T+4 days. One observation today from the sales & market depth is that buying support was present but transactions are mostly sell downs so there is desperation to sell within today.

Posted by caven101 > 2013-11-18 19:59 | Report Abuse

What is RCN ? what is proxy form? i also blur on what the document censof sent. anybody can tell me more detail about RCN?

Posted by Qiii > 2013-11-18 20:27 | Report Abuse

@caven101: I am also learning myself. RCN is Redeemable Convertible Notes or convertible bonds which is a form of private debt security used by companies to raise funds. I made a quick write-up on what I understood personally from the RCN circular in the comments above. Hope that helps and if anyone noticed anything inaccurate, please offer clarifications.

Since Censof is calling for an EGM, the proxy form is for shareholders to represent other shareholders who could not attend the EGM and cast their votes on behalf or according to the intention stated in the proxy form.

Posted by Qiii > 2013-11-18 20:34 | Report Abuse

You can also think of RCN = Bond + Warrant.

Posted by caven101 > 2013-11-19 01:54 | Report Abuse

thanks Qiii but i still not understand on it, why suddenly having RCN on censof? what the purpose? benefit to investor?

Posted by Qiii > 2013-11-19 08:40 | Report Abuse

When a company needs money, they can either borrow from banks or raise it from the public via bonds or issuance of shares. This is just another way to raise money from private institutions / funds. This is not sudden, they proposed this on 14 May 2013. Btw, RCN is not issued yet and there is no conversion from this so far.

My guess is they need money to maintain a good cashflow for their projects in 2014. Since the amount is quite huge, if the projects work out, it usually means better company earnings. Every project have its margin. For e.g. if I buy a product at a cost of RM1 and sell for RM2 then I made a 100% return. So in other words, if the projects work out, it means good things for investors.

Posted by caven101 > 2013-11-19 08:53 | Report Abuse

Qiii thanks for your explanation.

Posted by kritikka79 > 2013-11-20 13:49 | Report Abuse

Any idea why is the price dropping day by day?

Posted by Bobby31 > 2013-11-20 14:07 | Report Abuse

time to sell

Posted by bella5 > 2013-11-20 14:56 | Report Abuse

Why do you say it's time to sell? Are you expecting price to drop further?

Posted by kritikka79 > 2013-11-20 14:58 | Report Abuse

Bobby31, you do not foresee any upward trend after the EGM?

Posted by caven101 > 2013-11-20 15:01 | Report Abuse

need to wait until announcement from censof just continue to up trend.

Posted by john1 > 2013-11-20 15:04 | Report Abuse

Time to sell

Posted by kenken85 > 2013-11-20 15:22 | Report Abuse

run before too late.. can feel d whole market is runtuh

Posted by Bobby31 > 2013-11-20 15:30 | Report Abuse

Well there is 70+++ vendors putting up their software for Kastam Approval to sell the software GST compliance to SME this means no monopoly of software offering to SME ...secondly Kastam is GST ready for trial run and Training next year means the software is ready in their system probable prepared by MYEG or time Eng in previous contract .... this means take your money and invest somewhere else DAYA looks good & Cheap + Stable

Posted by tomwah > 2013-11-20 17:51 | Report Abuse

Today mkt. down. ...

Posted by cheeseburger > 2013-11-21 10:24 | Report Abuse

this is not the only company selling software for GST.

Posted by twobits > 2013-11-21 14:18 | Report Abuse

Censof broke it long term support trend line yesterday (RM0.585)which mean bearish. Should find support at 0.565. If 0.565 not holding, be prepared for 0.545 / 0.535.

Qii: Can u take a look at weekly CI chart? I believe correction not done yet.

Posted by potenza10 > 2013-11-21 15:00 | Report Abuse

Q at 0.56

Posted by NRobert > 2013-11-21 15:08 | Report Abuse

Support should hold @0.565 now

Posted by AhHuat118 > 2013-11-21 15:18 | Report Abuse

wake up again

Posted by azta12 > 2013-11-21 15:20 | Report Abuse

kutip hihihi

Posted by caven101 > 2013-11-21 22:11 | Report Abuse

after correction will be rebound back. Censof not only for GST software so this counter is worth to keep one..

Posted by AhHuat118 > 2013-11-22 09:03 | Report Abuse

I just share what I know about customise software.
If a company has been using the particular software, it is hard to change to another brand.
All the data base may not easy to transfer.
Let said about GST implementation, company may ask existing vendor to add in this new module rather than buy a new set of software from another company.

Posted by lee9fold > 2013-11-22 09:38 | Report Abuse

but ah huat still holding this stock?

Posted by AhHuat118 > 2013-11-22 09:50 | Report Abuse

Yes, still holding.
Need time for this stock to up

Posted by lee9fold > 2013-11-22 10:09 | Report Abuse

yea...need time man

Posted by caven101 > 2013-11-22 10:20 | Report Abuse

Nothing worry on censof. if GST is confirm implemented on 2015 sure benefit to censof. 2014 the software must be ready cause some of government department sure will start trial run testing. after that phase by phase to other agency, once reach 2015 is must start to go LIVE for all which need GST. That time you want get censof on current price is impossible already. Example you could see like MyEG, that is a good sample to refer.

Posted by lee9fold > 2013-11-22 12:31 | Report Abuse

caven is confident...great

Posted by excelyou > 2013-11-22 13:58 | Report Abuse

Second MYEG.....

Posted by excelyou > 2013-11-22 14:08 | Report Abuse

Comments The lacklustre response from the minority shareholders seems to echo our view that the unattractive offer price is very much likely a technical GO.

In line with CENSOF’s intention to maintain the listing status of TEB, the low acceptance level suggests a high chance of TEB retaining its listing status post offer.

We have earlier highlighted (at 13-Sep-13) that our CENSOF’s target price will be upgraded to RM0.88 based on unchanged FY14 PER of 15.5x over a higher net profit forecast of RM22.2m (from the current estimate of RM15.4m that based on the existing activities), should the proposed TEB’s acquisition to be concluded by end-CY13.

To recap, we believe that the proposed acquisitions will not only allow the group to expand its business but also provide leverage on TEB’s resources and infrastructure to create synergistic benefits, and thus, raising both Censof Group and TEB Group to the next level.

Posted by goldenray > 2013-11-22 15:54 | Report Abuse

Thats why i say, anything below RM0.60 is a BIG STEAL.
Censof might announce results today, may it be a positive boost for all.

Posted by caven101 > 2013-11-22 19:06 | Report Abuse

lee9fold if buy already this counter must be confident, if not confident better keep money in bank. wakakaka. let us continue see the result and celebrate together. (^_^)b

Posted by lee9fold > 2013-11-22 20:33 | Report Abuse

well said caven!

Posted by tsurukame > 2013-11-23 10:15 | Report Abuse

excelyou,
TQ for the info....
Censof now owns 45% of TEB...so what TEB earns in future Censof will account for 45 % of TEB future EBIT. Censof has its IT GST products and so does TEB as well ....In terms of FUTURE Revenue value ,revenue growth rate and gross margins of the potential GST related IT biz, does Censof IT products or TEB IT products has the bigger FUTURE revenue potential, FUTURE revenue growth rate and future EBIT potential , future EPS growth rate?

How big is the market potential in $$ for IT GST software? What will be its growth rate over the years? Who are the competitors to Censof and to TEB...Does Censof and TEB has its business MOAT??

Thanks for your advise.

Posted by Qiii > 2013-11-23 11:10 | Report Abuse

@twobits: Just saw your comment. I have responded to you in the original thread.

Regarding Censof, I am still seeing accumulation and the recent downside on prices are on thin volume. If you can hold, that's maybe the right move until you see stronger participation from the big players. The market response to the RCN proposal is not great which is also an opportunity for correction.

IMHO, they should have just issued sukuk (Islamic Bonds). Lets see what happens after the EGM. A recent TP issued by Kenanga did mention that with the conclusion of TEB acquisition, the TP will be raised to RM0.88.

Posted by Forwardinvestor > 2013-11-23 13:39 | Report Abuse

The RCN Floating CP gave an impression that there are huge share dilution. It is not in the interest of existing shareholders for Censof to drop very much. The Floating CP option is too much in favor of the subscriber. Offering the Fixed CP will do knowing the latent capital appreciation.

Posted by Qiii > 2013-11-23 13:47 | Report Abuse

Agree. I am not sure whether there will be much changes to the proposal after EGM for Tranche 1 but it makes sense to remove the Floating Conversion Price in Tranche 2 onwards and stick with the Fixed Conversion method OR opt for a different method to raise funds.

Posted by Topgun > 2013-11-23 17:58 | Report Abuse

Must invest this counter as a long term investment. Wait for announcements on GST contracts and synergy between Censof and Time to materialize in 2014. Easily hit Rm1 and above.

Posted by goldenray > 2013-11-26 11:11 | Report Abuse

Bullish GST play is back entering year 2014. Going back to 65 level. Buy NOW before is too late :-D

Posted by lee9fold > 2013-11-26 11:14 | Report Abuse

woah golden ray appear

Posted by trustme932 > 2013-11-26 15:18 | Report Abuse

Slowly but surely higher..will make its 1st test at 0.615 in the v near term.

Posted by lee9fold > 2013-11-26 15:48 | Report Abuse

tm!

Posted by goldenray > 2013-11-26 18:30 | Report Abuse

Time Engineering Berhad (45% owned by Censof) mark an astounding quarterly results.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1473217

Posted by CityTrader > 2013-11-27 08:24 | Report Abuse

Morning bro tm, what is yr tp?

Posted by lee9fold > 2013-11-27 09:10 | Report Abuse

yo ct...wads yr tp pula?

Posted by CityTrader > 2013-11-27 09:12 | Report Abuse

Hi lee9fold,, since im holding, then let price surf high by itself..