Going to set higher price for the private placement since the first is already 12.0 sen when the share price was only 6.5 sen, now with 9.0-9.5 traded, it should be 15.0 sen for the new placement price?
Or even better push the mother share now to much higher, taking the advantage of the high oil price, so placement can be 20.0 sen still well below net assets value!
KUALA LUMPUR: Commuters using the Rapid KL Monorail will have to wait until next year to see improvement in service despite a previous RM494mil upgrade project, says Transport Minister Anthony Loke.
This is because only five of the 12 sets of four-car trains ordered were delivered by the contractor, Scomi Engineering Bhd, in 2016 and subsequently some of these trains were grounded after parts started falling off. Scomi Engineering has since had its contract terminated by Prasarana Malaysia Bhd, the operator of Rapid KL Monorail.
“They (Scomi) had a meeting with me yesterday (Oct 8), and I told them they must be prepared to come to the negotiation table to settle the dispute with Prasarana.
“I do not want this dispute to go on at the public’s expense,” he told reporters after visiting the Tun Sambanthan Monorail Station here on Tuesday (Oct 9).
He said the company would have to find a solution despite having their contract terminated by Prasarana.
Loke said that he would then table Scomi and Prasarana's proposal to the Cabinet for approval by the year’s end.
If both parties were still unable to break the deadlock, he said, then a proposal would be forwarded to the Cabinet that would also include the project being tendered out to a foreign company to repair the existing trains and supply new ones.
If resolved, he said, there would be improved rapid rail services by early 2019.
Under the 2014 upgrading project, Loke said, Scomi was responsible for upgrading the monorail stations, develop a depot and supply 12 sets of four-cars trains for Prasarana’s monorail service.
However, he said only five sets began operations in 2016 and there were subsequently five incidents of parts falling off four trains occurring between May and November last year.
I think the point is that there are Chinese investors eyeing to buy Scomi and partner to bring Scomi to China market. And that's a big market for Scomi to enter.
Now Scomi only 7 cents. their NTA is around 30 cents. The initial private placement at 12 cents didnt go through. Next one can even go even higher around 20 cents to match NTA.
@thequalityguy if no private placement then that's just means scomi will soon declare bankruptcy because thats the only way out of this is to get fresh funds externally
Hopefully can get some of the funds owed to them, instead of them always being demanded to pay by creditors. Prasarana also needs to pay them their owed sum. But most importantly, they need to get some new business. If not no more incoming funds lor...
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....
limen12
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Posted by limen12 > 2018-09-17 23:15 | Report Abuse
@freddiehero you say scomi is bad counter, yet now say can start collect some. why sudden change?