Tiger definitely in a collection Mode After Miss Michelle Looi Poh Gaik accumulated more than 5% and make announcement on 12 Sep 2018 Immediately Dato sold 1,500,000 shares at 7 sen and Datin even throw 374,000 shares at 6.5 sen, why?
Dato adopt a suicide strategy by preventing Michelle to accumulate further share just to buy RCN at 10 sen and convert it to mother share and dispose at 7 Sen just to press down the share price and flood the number of shares.
On 20 Sept Dato buy and converted further 20,000,000 share at 10 sen, however next day 21 Sept sold 12,000,000 in the open market at 7 sen again
Although this can scare new entrants but also blood bleeding himself by loss 3 sen every share sell. Currently Dato have bought and sold 13,500,00, losses totalling RM405,000 (13.500.000 X RM0.03).
This is a defences against takeover strategy by increasing more and more share in the market and send a massage to the floor that they can further convert Rm65,000,000.(650,000,000 Tiger Shares)
1 Oct : Sparkle Our Wealth Wrong move by obtaining fund from ACP
ACP is a private opened fund management from Singapore, their main objective is to make long term profit by providing RCN (Redeemable Convertible Notes ) to penny stock listed company. Although the interest charges is 1% per year, however normally their will squeeze the borrower until your died. Tiger have to consolidated 4 to 1 share before obtain the fund, Furthermore, ACP entitle to convert the RCN at 10 sen.
How can the director allow to do so by scarify the shareholder interest, before consolidated 18sen (4x4.5sen) after that issuing share at 10 sen. Before share issued 531m, after fully converted 1281m.
So we are expected to see a lot of new entrants soon in our 2018 Annual Report top 30 shareholders list.
Sooner of later, Takeover can be seen such as DBE, PRICEWORTH, all taking fund from ACP............
Creative Accounting It is the exploitation of loopholes in financial regulation in order to take advantage and present favourable figures in the financial statements. perfectly legal in law.
Tiger try to capitalised its overhead in Property Development Cost amounting RM118m as at 30 June 2018, This huge amount of asset probably will be written off one day. It can be write off exactly like goodwill or research development cost. ............
So even NTA equal to 56 sen, it might not the true figure.
What happen if all RCN convert to mother share? Assuming share price drop to 6 sen because of huge amount of share flooded, Market Value : 1.2 billion x0.06 sen =RM72m Cash Per Share : 75m-12m/1.2b=5.25 sen NTA : 228m+71m/1.2b=25sen Purely Land bank per share : 87m/1.2b = 7.2 sen So Still not to worry too much
Who like Tiger? A lot of Developers who are very eager to enjoy the Lucrative development in Kuala Lumpur However, due to the limited land bank and asking price are sky high prevent their move, Tiger provide them a very golden opportunity. Buy Tiger enjoy 87M of land bank plus another 10m listed status.
I believe Michelle Looi and her associates has the same intention.........................
After announcement of new substantial shareholder dated 7 September 2018 Volume have been building up..................
From 8 September to now 155m totalling 27% of paid up shares have been changed hand, it is believable that proxy fight will be happen to remove the board of directors.
Dato are very worry and have been aggressively buying Tiger at 10 cents from ACP as he is fully aware change will happen.
New shareholders will appear in the coming shareholders list in 2018 annual report to be release on 1 NOVENBER, ......
Proxy fight is the method to takeover a company by the way of buying more than 10% shares, hold EGM and convinces shareholders to vote out the current board and replace the approving board. However although it is popular in UK, USA, but never happen here.
A lot of good analyst like CALVIN TAN, LOGIC TRADING ANALYSIS, TAN K W, EQUITY DAIRY,CP TEH etc etc should team up their followers, instead of waiting and waiting and waiting the current board to declare, to change, to hope something benefit to the minority shareholders, they should do a step ahead by accumulate the proxy enough to pressure and even to remove the board to realign their business.
Please bear in mind a lot of listed company in BURSA, the controlling stake are very loose like 11% control in Tiger currently.
Initially in 2015, the above project planning to build 120 units of Apartments and now propose change to 180 units of exclusive apartments with 8 Commercial units. Gross Developments Value would be 100m and Gross Development Cost equal to 65m, Thus Tiger will be profited of 35m for the next 3 years
The projects that pending launching from Tiger is keep postponing and this is severely affect the order book for Tiger. It is imperative for Tiger to launch some projects which is in the pipeline in order to revive shareholders' interest.
And the important point is Tiger actually not big loss , result so so and acceptable for a peeny stock and can say win many same level ex orion and zelan base on past qr Andother points is Tiger future not bad and after Ri seem no cashflow problem . The most sohai part is Tiger made a stupid act share consolidation so Tiger is kind to follow Hubline and Sanichi But Tiger result more good than them but price lowest , sanichi 12sen ,tiger 5sen ?
and tiger always ada news as below last time news :
Hahaha..It is so risky to invest in this company. I abadoned the ship a while ago but surprising making 13% profit out of the money invested after consolidation. It is still a worthwhile stock to play in short term since Tan had bought the shares back to 11%.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Tiong Kung King Zien
912 posts
Posted by Tiong Kung King Zien > 2018-09-26 22:25 | Report Abuse
Malaysia boleh