Posted by apolloang > 2019-05-27 16:17 | Report Abuse

u better wait until like daya and sumatec then u buy.....hahaha

Posted by birkincollector > 2019-05-27 19:53 | Report Abuse

guys the restructuring plan is out!

Posted by birkincollector > 2019-05-27 19:55 | Report Abuse

consolidation, right issues etc.....also mentioned an apparent new investor, Sharp Ascend Limited. i googled and its headed by someone called Shuif Hussain, a Bruneian businessman which apparently has link with Sultan Brunei?

Posted by birkincollector > 2019-05-27 20:03 | Report Abuse

also will pay 38mil from right issues to maybank.....maybank will pick up scomi shares for the remaining amount etc.....

Posted by Vs Bong > 2019-05-27 20:10 | Report Abuse

The price is 0.18?

Posted by T800Terminator > 2019-05-27 20:24 | Report Abuse

That’s is right issue price after share consolidation 4:1.

Posted by birkincollector > 2019-05-27 20:28 | Report Abuse

not sure how most see this , for me at least i know its not going into pn17 lol

Posted by Vs Bong > 2019-05-27 20:30 | Report Abuse

Will it take off tomorrow?

Posted by nippy65 > 2019-05-27 20:53 | Report Abuse

This is bad, shares shrinkage for the 2nd time and got to dump in more money to keep the company afloat. Those who bought few years back, the investment cost will rocket.

Posted by Drybz > 2019-05-27 21:50 | Report Abuse

What will happen to WB? Kinda not worth at all d

Posted by limen12 > 2019-05-27 22:14 | Report Abuse

Anyone can share what it means for the rights issue to be at 0.18?

Posted by Drybz > 2019-05-27 23:31 | Report Abuse

end of the day, consolidate 4:1, right issue 1 for 3, everyone still own the same amount of share. the only thing was have to take money out 0.18 per RI / 0.54 per every consolidated share, then give you free WC @0.26, meaning its actually 0.28 taken out from your pocket. Then if we use 0.28 / 4 before share consolidate, today every scomi share worth 0.07 only?

Posted by calvintaneng > 2019-05-27 23:36 | Report Abuse

Already warned my buddies Scomi going bankrupt

Ok tomorrow just sell off all Scomi and buy ASB at 14.5 sen

ASB just sold an asset for Rm80 millions profit which is about 8 sen

ASB MIGHT GIVE OUT NICE DIVIDENDS MORE AND MORE

BETTER SELL SCOMI WHICH KEEP ASKING YOU FOR MONEY

BUY ASB WHICH CAN GIVE YOU MONEY AND MORE MONEY!!

Posted by fl888 > 2019-05-28 06:22 | Report Abuse

Sell and change to Scomies Engineering Berhad better today ?

Posted by birkincollector > 2019-05-28 07:09 | Report Abuse

Im surprised IJM willing to pick up the right issues. I thought they were considering disposals of their shares. May be they know something coming? Oh well...

Posted by CharlesT > 2019-05-28 07:14 | Report Abuse

Drybz end of the day, consolidate 4:1, right issue 1 for 3, everyone still own the same amount of share. the only thing was have to take money out 0.18 per RI / 0.54 per every consolidated share, then give you free WC @0.26, meaning its actually 0.28 taken out from your pocket. Then if we use 0.28 / 4 before share consolidate, today every scomi share worth 0.07 only?

WC worths RM0.26????

The exercise price of WC is Rm0.26...not the value

Posted by Drybz > 2019-05-28 08:13 | Report Abuse

birkincollector Im surprised IJM willing to pick up the right issues. I thought they were considering disposals of their shares. May be they know something coming? Oh well...

Yes, thats suspecious too, if no future prospect, why would new investor come in, and Maybank take up the RI, or perhaps Maybank got no other option, scomi cannot pay the debt..

Posted by Drybz > 2019-05-28 08:15 | Report Abuse

CharlesT WC worths RM0.26????

The exercise price of WC is Rm0.26...not the value

Oh, sorry ,then should assume as 0.44 - 0.26 = 0.18? just guessing, i am new.

Posted by CharlesT > 2019-05-28 08:32 | Report Abuse

Depends on mother share's price, if let's say mother price is at Rm0.20+ after the whole exercise then warrant's price shall be below RM0.10

Posted by Legend > 2019-05-28 08:59 | Report Abuse

SELL!!!

Posted by limen12 > 2019-05-28 09:11 | Report Abuse

IJM and new investor in for a reason, cuz they believe Scomi can be turned around.

Posted by Legend > 2019-05-28 09:12 | Report Abuse

Gone case already....

Posted by aris743 > 2019-05-28 09:17 | Report Abuse

buy for new scomi

Posted by Newbiesky > 2019-05-28 09:20 | Report Abuse

how come priCE dropping

Posted by hancingPM > 2019-05-28 09:23 | Report Abuse

why all sell mehh, investors want coming

Posted by BringMeFly > 2019-05-28 09:29 | Report Abuse

drop so fast...wait for QR only decide to top up or not

Posted by Legend > 2019-05-28 09:31 | Report Abuse

No comment...warning already.

Posted by Yatchaifatt > 2019-05-28 09:34 | Report Abuse

Time to shop more.. Delicious!

Posted by Legend > 2019-05-28 09:59 | Report Abuse

go buy Nihsin better.

Posted by limen12 > 2019-05-28 10:00 | Report Abuse

lol. All say buy others better. Explain why Scomi is bad first ?

Posted by BigWhiteSand > 2019-05-28 10:02 | Report Abuse

Maybank issue settled for now. New investors came in. New projects indefinitely will come in. Putrajaya project should revive soon. Rights issue is an option to existing share holders. IJM will take up the rights issue. So why the selling pressure? Panic selling and will rebound later today ?

Posted by aris743 > 2019-05-28 10:04 | Report Abuse

buy wb 1c

Posted by Yatchaifatt > 2019-05-28 10:06 | Report Abuse

Good news for new scomi.. Panic seller is cute.. Lolx.. Sell more so that we can buy more..

Posted by fl888 > 2019-05-28 10:08 | Report Abuse

Now Scomi can pay RM75 million to Scomies with this RI...

Posted by Drybz > 2019-05-28 10:08 | Report Abuse

RI usually follow with panic sell, coz market sentiment is not good, ppl dont like this.

Posted by birkincollector > 2019-05-28 10:09 | Report Abuse

may be at this uncertain time....no many willing to fork out money for RI

Posted by fl888 > 2019-05-28 10:18 | Report Abuse

Now Scomi can pay RM75 million to Scomies with this RI...

Posted by Michael Pui Pui > 2019-05-28 10:25 | Report Abuse

Dam I stuck at 0.105, dunno need keep how long dy.

Posted by hancingPM > 2019-05-28 10:40 | Report Abuse

just wait for qr n next month..putrajaya project shoul revive soon.

Posted by Michael Pui Pui > 2019-05-28 10:46 | Report Abuse

Thank you for the advice

Posted by Drybz > 2019-05-28 11:30 | Report Abuse

me too stuck, not optimistic with qr... only big project, good good news would help. yesterday annoucement also mention they still in midst finding more investor, will seperate annouce once secure. Hope its real

Posted by Eric Tan Pok Shyong > 2019-05-28 11:32 | Report Abuse

"Further to the above, SAL will be providing a payment of RM20.00 million as advances to
SGB while STKF has provided RM3.00 million, as advances to SGB. The total amount
totalling RM23.00 million will form part of the payment for the subscription of SAL and STKF’s
entitlement pursuant to the Proposed Rights Issue of Shares with Warrants. The advances
which will provided by SAL shall be interest-bearing while advances which has been provided
by STKF shall be interest free. For information, IJM had provided an advance of RM5 million
to SGB at the request of SGB. However, this amount will not form part of the payment for the
subscription of IJM entitlement pursuant to the Proposed Rights Issue of Shares with
Warrants."

"The Board of Directors of SGB had on 27 May 2019, agreed with Maybank, a settlement sum of RM38.00 million (“Maybank Settlement”) to be paid to Maybank in satisfaction of all SGB’s liabilities and obligations pursuant to the Memorandums of Deposit and the release of the Pledged Shares following such settlement as follows:-
(a) RM23.00 million cash settlement to be settled via the proceeds from the Proposed Rights Issue of Shares with Warrants. In the event SGB does not achieve Minimum Subscription Level, the Company shall pay RM20.00 million of the Maybank Settlement in cash to Maybank and the balance RM3.00 million due is to be payable over 4 quarterly instalment of RM750,000 each with an interest rate of base lending rate + 2.5% per annum; and
(b) RM15.00 million shall be settled via the issuance of new Consolidated Shares based on the Issue Price.
Based on the Issue Price which is RM0.18 per Right Share, 83,333,333 new Consolidated Shares will be issued to Maybank pursuant to the Maybank Settlement."

The above are the extracts from the announcement. It is apparent that the amount of RM23 million advanced by SAL and STKF tallies with Maybank cash settlement. That goes to show:

SAL agreed to provide a loan of RM20 million to SCB to settle Maybank's debt, which loan will be offset against the subscription of the Proposed Rights Issue of Shares with Warrants. The shortfall of RM3 million will be top up by STKF personally without interest. This means Maybank's debt is now settled. Isn't this a good news?

IJM will provide additional RM5 million advance which is additional and will not be utilised to offset against its subscription of the Proposed Rights Issue of Shares with Warrants. That goes without saying is to cover miscellaneous expenses which would include interim interest. Isn't this good?

The only thing dislike by the market is the share consolidation. No one will choose to invest at this timing for sure, hence the selling. Me too hates it. But be that as it may, I think Scomi long due problems are now coming to an end finally. This is already the bottom, luckily not PN17 or delisting. For Scomi long term investors I believe this is a good news for all. To see the result it will take time, perhaps a year or 2, or even shorter, but the dawn is breaking no doubt.

Posted by T800Terminator > 2019-05-28 11:44 | Report Abuse

A at 0.05

Posted by limen12 > 2019-05-28 13:17 | Report Abuse

Everything so negative on the proposal ? Can someone explain in layman what it means for the rights issue and warrants ?

Posted by birkincollector > 2019-05-28 13:40 | Report Abuse

Problem with consolidation. It makes room for price to drop further. Well, tats my observation from other stocks

Posted by BringMeFly > 2019-05-28 14:23 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6172821

The Company wishes to inform that MBB and the Company have agreed to a settlement of MBB’s demand for the sum of RM113,957,000.00, as secured by SGB’s pledge to MBB of 206,041,600 shares of Scomi Energy Services Bhd. The details of the settlement between MBB and the Company are set out in the announcement dated 27 May 2019 made by MIDF Amanah Investment Bank Berhad and Astramina Advisory Sdn Bhd on behalf of the Company.

Posted by Eric Tan Pok Shyong > 2019-05-28 14:24 | Report Abuse

There won't be consolidation if a company is doing well. My understanding of right issue and warrants are a simple signal that the company asks public for more funds to survive. People buy shares to earn, so when there are profits they sell. So nothing wrong to say that it makes room for price to drop further as it can hardly go up in view of the profit taking scenario.

Posted by Eric Tan Pok Shyong > 2019-05-28 14:34 | Report Abuse

It is fact that Scomi was nearly insolvent. It was so close to PN17 as reported by the Edge. We must be happy with that didn't happen. After Scomi settles disputes with Prasarana on 4 April 2019, we were all looking forwards to something good about Scomi, but Scomi cannot be good without settling its heavy debts. Now we see the solution, but with consolidation. Try to imagine, you prefer the current situation or PN17? No doubt the current situation is best for us. So now if you think you lose money, what about IJM? They lost so much and still have to pump in RM31 million. What about the new investor which pumps in RM20 million, and what makes Sammy Tse to personally pump in RM3 million to top up the Settlement Sum with Maybank? Sammy was newly appointed CEO but not Shah Hakim, why had he done so? Aren't these sufficiently shown that they foresee viable futures of Scomi? Let's not forget about the RM181 million from Prasarana pursuant to the Settlement Agreement. Let's also not forget Sammy and SAL are foreigners, they don't involve in local politics. Scomi started with policital backgrounds but now they have to fight with their own strength, which attracted investment from SAL and Sammy himself. No risk no gain. Most people lost in share markets because most of them are short sighted. They gamble and want to gain overnight. I think by end of this year we can see how Scomi turn around.

Posted by limen12 > 2019-05-28 15:06 | Report Abuse

Hmm, I holding Scomi for sometime now expecting a turnaround with new investor. Market was worried that Scomi has no financing to settle debt, but now with new investor coming in with the recapitalisation, it seems market is so negative about it from the proposal. Scomi back at square one. I agree with @Eric thatIJM willing to gurantee to recapitalise Scomi because they think the business with SAL can grow, if not they will not make such commitments.

Question is what can SAL bring to the table? Anyone have suggestions?

Posted by Drybz > 2019-05-28 15:09 | Report Abuse

just some side story about this Sammy Tse, he was once officer of a HK company, goreng till tripple or and and fall back down. many was trapped... That company has 1 same symptom as scomi.. share are just few cents. News say its goreng by 1 fellow call 仙股大王.... and later on, sammy face court case and declared bankcrup...

story for tea..