Posted by hiroya > 2015-07-27 09:31 | Report Abuse

Did they reissued the 2014 audited financial statements? The dateline is 12 August,

Posted by Friendship > 2015-07-29 05:31 | Report Abuse

About time to pick up this counter at bargain price

Posted by persie > 2015-07-30 14:49 | Report Abuse

They yet to publish FYE2014. Dateline 12.8.2015

Posted by unifitan > 2015-08-09 14:06 | Report Abuse

Going to PN17...... Collect at RM0.025
Company got problems.

Posted by yukchian > 2015-08-11 11:45 | Report Abuse

today is last day to submit the report

Posted by unifitan > 2015-08-13 10:51 | Report Abuse

Waiting at 3 cent ..... cheers

Posted by stupiddavid > 2015-08-15 16:09 | Report Abuse

Appeal to SC rejected, means account to be changed... PN17 not too far... previously who said will fly to sky? already warned not to mislead people, now those SKL all gone. Forum always have this kind of irresponsible people.

Posted by unifitan > 2015-08-16 21:18 | Report Abuse

Collect at 2 cent.... good

Posted by yukchian > 2015-08-17 15:12 | Report Abuse

haizz...dawn of YFG or sunset of YFG?

Posted by Tan Chen Pang > 2015-08-19 10:34 | Report Abuse

submit report audited last day on end of august 2015?

Posted by yukchian > 2015-08-19 10:51 | Report Abuse

yes.. I called to the company and they said KPMG auditor is working on it.. really slow and i worry they are try hide something to investor..

Posted by tc88 > 2015-08-19 14:23 | Report Abuse

PN17 soon?

Posted by yukchian > 2015-08-19 14:34 | Report Abuse

better dont...

Posted by Moonsucker > 2015-08-19 15:52 | Report Abuse

sound not good

Posted by Tan Chen Pang > 2015-08-19 17:40 | Report Abuse

omg...thinking goin sold it d

Posted by davidkkw79 > 2015-09-04 13:18 | Report Abuse

PN 17 award is coming !

Posted by Moonsucker > 2015-09-04 14:49 | Report Abuse

any news for PN 17?

Posted by davidkkw79 > 2015-09-04 16:11 | Report Abuse

Very soon, better throw first

Posted by Jolin Lai Chi Pet > 2015-09-06 21:00 | Report Abuse

will secure big project soon!!!!!!!!!!!!! hold it..................

Posted by bullethabis > 2015-09-10 12:15 | Report Abuse

what project?

Posted by yukchian > 2015-09-10 13:42 | Report Abuse

never hear that

Posted by bullethabis > 2015-09-10 15:56 | Report Abuse

what kind of project?

Posted by davidkkw79 > 2015-09-12 17:38 | Report Abuse

Self creat project

Posted by yukchian > 2015-09-21 14:39 | Report Abuse

coming?

Posted by willc48 > 2015-09-21 14:51 | Report Abuse

no further project or core business

Posted by yukchian > 2015-09-22 11:42 | Report Abuse

report submitted?

Posted by jay111 > 2015-09-22 15:33 | Report Abuse

Today expired date.if no submit?pn17?

Posted by yukchian > 2015-09-22 17:11 | Report Abuse

patience is acceptance..

Posted by stupiddavid > 2015-09-23 09:12 | Report Abuse

patience become dying... finally fell under PN17 ... this forum can be very quiet already, no more SKL

Posted by kangcs > 2015-09-23 10:30 | Report Abuse

bye bye

Posted by Friendship > 2015-09-23 14:42 | Report Abuse

interesting progress....

This is how operator releasing news flow to control prices...

Now is the time to buy! hahaha

Posted by Friendship > 2015-09-23 14:43 | Report Abuse

Saturday, May 9, 2015


Here are my take on the redeemable convertible debt issued by YFG. One should read in detail the disclosure provided through Bursa. I should say this issuance is highly complex and one of the more complex notes (debts) that I have encountered. It is definitely issued and negotiated by people whom are experienced and knowledgeable on this topic.

As a start, let me go through the need for YFG to raise this. It definitely needs restructuring of its balance sheet as well as taking care of its growing debt. To go to the banks and get new loans, I think is almost very difficult given the scenario of its balance sheet. It will also face a lot of problem if it is going to the debt market - probably rated as junk.

But one of the reason which I took notice of this company is its ambition. YFG has faced countless challenges taking over a very difficult company. One does not discover just a single cockroach. If one cockroach is found, there are usually more.

With that I would say the RM100 million debt deal is a good option, although not fully ideal. This is because it can now fully concentrate on getting its business dealings moving forward rather than worry over the financing portion besides the very friendly interest rate of 2%. There is however no free lunch - do we think there really is one? Why?

The notes holder are given the option of converting the notes at a sweetheart deal i.e. 80% of the average closing price of the YFG share on any 3 consecutive market days during the 45 days prior to the conversion date - see below or a fixed option as below. (now you know why I said it is a mouthful to comprehend given the complexity and thoughts that are put into the deal). The conversion is however subject to approval from the company and/or shareholders depending on various situations.


Conversion terms of the notes To control the conversion so that they are not at too low a price, there is a clause for redemption as below. Well you can do the calculation...



What other things to look at? Well, in the event the notes holders (and assuming that the notes are fully subscribed) are given the option to convert the shares and at 80% of its current market price, they would end up with a very significant stake of more than 70% in YFG.

My thoughts - the RM100 million approval needed for shareholders to make the decisions in a single general meeting is way too high as it does not need the amount now. YFG also need to explain better why it needs shareholders to approve RM100 million. I would recommend to change it to approval for RM50 million with further option for a further RM50 million in another session.

What are the risks and weaknesses in this deal to shareholders?

YFG could have raised additional funds but giving too much to the notes holders with an option of a cheap equity entry into the company;
5% arranging fee is also quite high;
YFG is raising funds that it does not need and again giving away too much, hence too much dilution to YFG.
The benefits?

The 2% coupon rate is low and would not affect its financial cashflow as opposing to being financed through banks;
Deal would strengthen its balance sheet;
Funding is almost assured.

http://www.intellecpoint.com/2015/05/my-take-on-yfgs-issuance-of-convertible.html

Posted by yukchian > 2015-09-23 16:00 | Report Abuse

Frienship, still can trust YFG?

Posted by stupiddavid > 2015-09-23 16:22 | Report Abuse

not about yfg anymore.... is whether friendship can be trusted... after goes in to PN17, redeemable convertible note will not be working, so don't talk about that anymore. a long long way for them to restructure, all previous plan to be changed. If you wanna ask friendship, must well you attend yfg next AGM to ask if they have survival plan better.

Posted by yukchian > 2015-09-23 16:36 | Report Abuse

actually i called YFG yesterday, all invest is your own risk....

Posted by Devil86 > 2015-09-23 19:11 | Report Abuse

burn all

Posted by davidkkw79 > 2015-09-23 19:12 | Report Abuse

www.bursamalaysia.com/market/listed-companies/company-announcements/4874857

Posted by davidkkw79 > 2015-09-23 19:13 | Report Abuse

Really gone into PN17....

Posted by davidkkw79 > 2015-09-25 09:46 | Report Abuse

gone case now

Posted by yukchian > 2015-10-23 15:55 | Report Abuse

any update?

Posted by bluemoon7 > 2015-10-24 12:31 | Report Abuse

i heard there are some turnaround plan.

Posted by yukchian > 2015-10-27 09:27 | Report Abuse

bluemoon, this is the second turnaround plan, the first turnaround plan seem not successful..few big project have been cancelled by owner...hope YFG management and Dr. Roslan can do something to revive YFG...don't make investor lose money again...

Posted by SSTT > 2015-11-30 21:43 | Report Abuse

Omg..the report.

Posted by 209291 > 2015-12-04 17:02 | Report Abuse

RUN !!!

Posted by masterkevin212 > 2015-12-23 17:43 | Report Abuse

yfg woke up already....

Posted by Devil86 > 2015-12-25 12:54 | Report Abuse

any new?

Posted by Jenny1288 > 2015-12-30 11:22 | Report Abuse

Y suddenly go up , anyone know ?

Posted by DreamKaiser > 2015-12-30 11:50 | Report Abuse

Got new white knight in shining armour one ah

Posted by bullethabis > 2016-01-06 15:17 | Report Abuse

any news?

Posted by grace123 > 2016-01-26 12:31 | Report Abuse

under 176, last week news big holes.