Posted by talk2pkc > 2012-09-06 16:50 | Report Abuse

I m positive it will hv few more "mini" tsunami or earthquake between a magnitude within the range 0.09 to 0.06 and if it does come down to 0.05 , we might need a "veteran horse" to drag us out of the mud and if that is not gd enough , we all just hv moan together with a sound like "NEIGH NEIGH" n then lay flat on yr side just like a "dead horse , ha ha Otherwise u might make some $$$ & keep smiling !!

Posted by junben > 2012-09-06 21:57 | Report Abuse

（吉隆坡6日讯）被列入PN17的银鸟集团（SILVER，7136，主板消费股），將进行一连串的重组计划，包括建议削资、整合股票、降低储备、清偿债务、发行附加股与凭单、修订企业章程及將附属公司清盘。

银鸟集团建议將每股50仙的股票面值，削减至每股1仙，而通过削资集得的1亿9927万令吉將用以降低其累积亏损。同时，该集团的缴足资本將从2亿零334万令吉，减少至406万令吉。

在执行削资建议后，银鸟集团將会进行股票整合，即每10股整合为1股，因此股票数额將减少至4066万8170股。

此外，该集团建议通过股票溢价账户达5200万令吉储备，並取消达605万令吉的凭单储备，抵销累积亏损至896万令吉。

银鸟集团与其两家子公司，一共拖欠抵押贷款人、租购贷款人以及非抵押贷款人2亿1874万令吉。对此，该集团將通过建议发行附加股和凭单集得的2425万令吉现金；发出3亿5296万股新股；发行2万5246股面值为1令吉的优先股和7564万张凭单，抵销上述欠款。

另外，银鸟集团將重组价值6565万令吉的有期贷款，而其余的贷款將被搁置。

银鸟集团建议发出的附加股与凭单，將以1股配22附加股，再以1附加股送1凭单比例发出。通过这项建议集得的6262万令吉资金，扣除清偿贷款用途后，剩余的3837万令吉將作为营运资本和重组计划开销用途。

该集团也建议修改公司章程，包括將面值从50仙改为10仙，以及通过清偿贷款发行优先股。同时，银鸟集团將旗下7家子公司清盘，以专注在营运主要的子公司。

Posted by stocarat > 2012-09-06 23:02 | Report Abuse

Bad news wat!! what chase up?

Posted by pirate99 > 2012-09-06 23:41 | Report Abuse

Wish someone can summarize the above posted news in engggrishhh...

Thanks in advance.. ;)

Posted by junben > 2012-09-07 00:50 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1059201

Posted by talk2pkc > 2012-09-07 01:11 | Report Abuse

interesting and this could go either way , sop standby and grease yr eyes to the screen , bless the logic soul , ha ha

Posted by Mat Cendana > 2012-09-07 07:26 | Report Abuse

So the regularisation plan is now out! talk2pkc, you are very, very right because "good" or "bad" will depend on how people perceive it. The capital reduction is expected, because SB is obviously no longer a par 50 sen company. I had thought it would be to 10 sen. Turns out to be 1 sen.

But whatever, the important thing is this: finally, the plan is out. SB is in a tough situation but at least it has a fighting chance. As for us holding shares at various prices, we will have to see how financial analysts interpret it. And how the market responds. But I'm feeling positive. At the very least, my capital won't be a total loss, that's for sure. Over the next few months, the minimum 50% looks achievable.

Posted by Mat Cendana > 2012-09-07 08:53 | Report Abuse

Oh, I was right about the 10 sen par after all - after the capital reduction from 50 sen to 1 sen, the shares will be consolidated on the basis of one new 0.10 share for 10. That means is one now has 100,000 units, it will become 10,000. This is followed with a 22-for-1 rights issue at 0.10 plus, as sweetener, 1 warrant for every right subscribed.

If successful, SB will be recapitalised and able to have a new lease of life. People will argue about its chance for success and especially about its price. Will be interesting to see how things will turn out for SB from now onwards. But whatever, at least the uncertainty is lifted for there *is* a plan. I have faith in the new management.

Posted by Captros > 2012-09-07 10:09 | Report Abuse

Why is it moving down??

Posted by richman > 2012-09-07 10:46 | Report Abuse

par value will come dwn to 5cts after value reduction

Posted by Mat Cendana > 2012-09-07 13:00 | Report Abuse

There is still a long way to go before things start moving for SB and its share price. This is just the announcing of the plan - it will have to go through the court and also getting shareholders' approval at an EGM. And then there's the various process. Patience, and a lot of it, is needed. With me, I'll wait until the very end; not out of any sense of loyalty but because that's how it goes with a company in this kind of situation. I think there is light at the end of the tunnel but it's very very dim. At least I now know that things are starting to move.

Posted by talk2pkc > 2012-09-10 10:28 | Report Abuse

Mat I am with you and "yellow" bow tie & white candles r lighted until such time could be red carpet & roses ..........

Posted by ashrizal1 > 2012-09-12 20:48 | Report Abuse

after capital reduction did SBGB still in market or delisted? annbody know?

Posted by nicermannson > 2012-09-12 20:54 | Report Abuse

alive and continue to be listed after taking haircut.

Posted by talk2pkc > 2012-09-12 21:07 | Report Abuse

No doubt the haircut is lookalike of "BOTAK" n let's pray this "BOTAK" grow back quicker than my hair , ha ha

Posted by nicermannson > 2012-09-12 22:03 | Report Abuse

not so fast

Posted by charles pang kah keet > 2012-09-17 20:22 | Report Abuse

now the price is so low at 0:065sen can try to buy in, the company have few month more to purpose the reduction sheme to bursa to rescue company,i think will pull the share price go higher.

Posted by talk2pkc > 2012-09-17 21:14 | Report Abuse

indeed buy buy buy , as journey for NORTH is opening soon !!

Posted by ashrizal1 > 2012-09-18 18:44 | Report Abuse

i will buy at 0.05 as margin of safety if not i just let it go :)

Posted by King Kong73 > 2012-09-18 18:49 | Report Abuse

guys..nav is negative based on last report...you are so brave to dive in like this...i salute you.

Posted by Daniel31 > 2012-09-18 23:51 | Report Abuse

NAV negative? In that case, the margin of safety shouldn't be 0.05 as ashrizal1 said. Better queue at 0.005 :P

Posted by charles pang kah keet > 2012-09-22 10:42 | Report Abuse

good buy at now, soonly this stock will run to 0:10sen.

Posted by captros > 2012-09-22 13:32 | Report Abuse

2nd Quarter loss was 309 million, 3rd quarter addition of 10 million. The cleaning up is almost to the end. The capital reduction and consolidation is the issue. Has anybody done any calculation and look at the prospect of getting back our cost, if the regularisation plan is completed.

Posted by ashrizal1 > 2012-09-24 13:36 | Report Abuse

When i am mention about Margin of safety, i am only refering to proposed capital reduction, the book value should be RM0.05. because for the curent situation above 0.05 its clearly overpriced than the new book value, some more without aset backing.

for me since the company will continue it operation, if this counter touch 0.05 or below it will be worth buying. just like a new IPO company who know the future ahead weither the company will success with the regularisation plan or not. by the way i still not in this counter yet.

Posted by talk2pkc > 2012-09-28 20:09 | Report Abuse

Bought more today n just wait n pray pray

Posted by captros > 2012-09-29 00:32 | Report Abuse

I had q at.065 but finally cancelled. Is it the right time to pick up. No indication that it will move. Is there any?

Posted by Mat Cendana > 2012-09-29 15:58 | Report Abuse

I don't think I'll be adding (although I'm really tempted to at 0.06). My plan is this: hold onto the existing shares and subscribe to the 0.10/per share rights issue (plus get the free warrants). Maybe not fully subscribe but it will be around half of what I'm eligible.

My reasoning and strategy are like this: firstly, selling now will result in some capital loss and I'm not taking that. Besides, when I first bought, I knew this one will have to be for "the longer term" (depends on how one interprets this). Definitely not as a trade.

Secondly, despite this being an `un-sexy' field (unlike oil & gas for instance), I'm quite happy with the current management and I believe they are dedicated to turning SB's fortunes around. From the little that I know after reading the restructure plan, what will come of this after the rights issue, winding down the loss-making and debt-riddled subsidiaries and associate companies will be a new Silver Bird that can start on a fresh note and on a much stronger financial footing.

"Will subscribing to the rights issue mean pouring more money into a hole? What about competition from companies that are (seemingly) stronger like Gardenia, Massimo?" -- There's always the risk. But it's the same with investing in other companies too. This plan and strategy will depend on how its shares will fare after the capital reduction, rights etc. The new shares will have to be above 0.10 - how much higher, we can only speculate and conjecture. No one really knows. As always, it will depend on the market's perception and sentiments at that particular time.

I'm not saying this is the best strategy or plan for current investors. Just sharing with you guys what I think.

Posted by KC Loh > 2012-09-29 16:20 | Report Abuse

One question: what's the market share of this company in terms of bread production?

Posted by Mat Cendana > 2012-09-29 17:33 | Report Abuse

Good question. I don't know but what I do know is that it's a very competitive business. Besides these well-known companies, there are many other similar companies at state levels. When I was in Pasir Mas, I'd usually buy bread made by the local companies which is cheaper. SB and similar companies have to compete in the higher-margin market where people in towns and cities don't care too much about price.

But it's not just bread - the other confectionary items are no less important. I don't know how exactly this business works but SB had been profitable previously... until the hanky-panky allegations surfaced. These include how the money from a previous rights issue was used.

I didn't follow SB previously - only came on after the price was in the lower teens, and after hearing about some people accumulating its shares for a long-term scheme. These people have been doing the same over the years with similarly troubled companies. These are the patient type with holding power. There were a few lemons from their investments but they have also made 200-300% gains on capital with some of their counters. I wouldn't recommend newcomers from buying SB though... unless if they are willing to subscribe to the rights issue and can wait. And wait.

Posted by KC Loh > 2012-09-29 18:33 | Report Abuse

do your homework first MC before even being thinking of temptation. Hopefully can come back and share with the rest of us! you should pay for a bread/confectionery manufacturer, not a lemon producer! :)

Posted by Mat Cendana > 2012-09-29 19:13 | Report Abuse

I am. Besides keeping tabs on development, I will also research on what its future business will be. I think the new management is experienced and smart enough to know that they have to evolve and not simply go about things the usual way.

There is potential in the food business - why does it have to be limited to bread alone?? Companies like Apollo and London Biscuits see to be doing okay enough. It will depend on how the new capital is to be utilised. SB is currently part of my "high risk" portfolio (where it's either strike big or badly burnt) but with the way things are going, I might become a genuine INVESTOR! This will be a first because normally I don't wait too long for any company - one year is VERY long. But I sense potential with this one - the NEW Silver Bird - and I want to be in from the ground floor this time.

Posted by KC Loh > 2012-09-29 19:52 | Report Abuse

the bread part i am just thinking if they would divest off! there won't be short of buyers in the market! just wanted to know the percentage SB holds in the market! its called lazy to research when someone is doing it! :)

Posted by talk2pkc > 2012-10-09 06:00 | Report Abuse

B buying some last few trading days at 0.06 and pray pray to sell 0.08 ish

Posted by ashrizal1 > 2012-10-09 13:06 | Report Abuse

hold it for 5 years, then maybe, just maybe it can be sell 0.10, unless some shark joint the party.

Posted by ashrizal1 > 2012-10-10 11:39 | Report Abuse

come on, eyeing tp0.045 to buy in.

Posted by waterlily > 2012-10-10 22:16 | Report Abuse

Ooch... 0.045 tats low so close to 0.00

Posted by ashrizal1 > 2012-10-11 10:52 | Report Abuse

its just need to drop another 0.015 :) if not, i just let it go.

Posted by Airo Chasz > 2012-10-23 14:22 | Report Abuse

up a little for these 2 days.volume also gradually build up.

Posted by pirate99 > 2012-10-23 14:23 | Report Abuse

Q @ 0.045 x penah dapat...

Posted by talk2pkc > 2012-10-25 05:44 | Report Abuse

Still holding .........

Posted by captros > 2012-11-06 17:06 | Report Abuse

Its look like buying is picking up?? Something is brewing if it continues tomorrow. Hopefully.

Posted by azta12 > 2012-11-06 17:33 | Report Abuse

Captros,probably the banking personel is buying. They know that a few white knights is working out to take over.rumours some of them have a very good track record in turning around a problematic co.if this materialized the price can easily hit 0.13. MC if you contemplating to buy, current price looks very good before it run.

Posted by captros > 2012-11-07 00:23 | Report Abuse

Azta, when you said white knight with good tract of turning around company, is it Tabung Haji?? Possible.!!
Wanted to go in to pick up while it is very cheap. But fear that monies will be tied for something uncertain. But once it started to move up we might lose the opportunity by 2 or 3 sen or more because it will be going to be very fast. The regularisation plan has started in Feb 2012. May be small rally up and down will start to happen soon until the time it is clearer that the turn around of the company will finally materialised. As at the moment keep it under our microscope.

Posted by talk2pkc > 2012-12-24 09:27 | Report Abuse

Someone roasting a small Turkey or just warming the oven ????

Posted by xlan > 2013-01-02 12:17 | Report Abuse

bagus untuk di buy kah this counter..????

Posted by devilnevercry > 2013-01-04 09:18 | Report Abuse

double, triple today

Posted by pathew > 2013-01-04 09:26 | Report Abuse

what is happening to this counter? 5 min wonder?

Posted by azta12 > 2013-01-04 09:26 | Report Abuse

thankyou very much harvest. striking lottery.

Posted by Mat Cendana > 2013-01-04 09:30 | Report Abuse

Remember the high-risk gamble I took four months ago when it was at 0.08? It paid off!:-)

Posted by pathew > 2013-01-04 09:31 | Report Abuse

congrats MC! handsome returns!