SCOMIES market capital is now worth RM292,750,000.00 , SCOMI GROUP OWNS ABOUT 65.63% OF SCOMIES SHARES worth RM192,131,825.00 , SCOMI share issued is 1,094,000,000 RM192,131,825.00 dIvided by 1,094,000,000 shares = SCOMI reasonable price worth at least 17.5 SEN per share, so SCOMI price should move in tandem with SCOMIES.
Truth is always truth, see it now. When box is filled with valueable, the box must not be called empty box since it is filled up.
When SCOMI is filled with 65.63% of SCOMIES worth, the SCOMI value must also be reasonable move up in tandem otherwise there will be logic error and loop hole, which is a extremely cheap proxy back way to own SCOMIES via SCOMI, it is a leak !
When SCOMIES market capital is worth RM292,750,000.00 , SCOMI GROUP OWNS ABOUT 65.63% OF SCOMIES SHARES worth RM192,131,825.00 , SCOMI share issued is 1,094,000,000 RM192,131,825.00 dIvided by 1,094,000,000 shares = SCOMI reasonable price worth at least 17.5 SEN per share, so SCOMI price should move in tandem with SCOMIES.
So logically, if SCOMI is not moving up further to reasonable price, with big gap, SCOMIES is hard to move further too, it is because of the logic syncronization, otherwise there will be a leak!
Guess have to wait till the waiver is approved. However there is hope because SCOMI triggered PN17 criteria as its shareholders' equity spread was less than 25% of its issued share capital and the equity dropped below RM40 million. BJ Land 15% public shareholding Bursa also can accept , so good chance for SCOMI to be waived too.
So meanwhile, we monitor any sign of buying up accumulation as they know faster and better for the news which we do not know.
Scomi stake in Scomi Energy is 0.17sen. But, dont forget to minus off the debt that is on Scomi books which comes up to around 0.17sen per share. So, net net is still zero unless Scomi wins some new projects, then its share price will go up.
Scomi debt per share is non current + current borrowings divided by the NOSH = RM184mil/1094mil shares = RM0.17 per share as at their latest quater.
I am saying based on ur computation saying Scome stake in Scomi Energy is RM0.17 per share. Hypothetically, even if Scomi Group can realise this by selling their entire stake of scomies which is RM0.17, but they have RM0.17 of debt to pay off. So, net net is still zero.
So, to say Scomi is worth RM0.17 purely based on their stake in scomies fails to take into account their debts that they need to pay off.
So, the true value from Scomi that investors will be getting are from other Scomi projects which comes at cost of zero. But, this is based on the assumption that these projects are NPV positive.
Or scomies share price keep rising, then Scomi stake in scomies will surpass their debt amount.
limen12, you are now getting a bit closer to the point now though not all. Well done, Keep it up!
Your last sentence of words "...scomies share keep rising..." is significant, that is meaning both SCOMI & SCOMIES must move in tandem!
Further to that, no one will want to invest into a dead company:
1. there is additional investment from Tan Sri Nik Awang @ Wan Azmi Bin Wan Hamzah and Gelombang Global Sdn Bhd of RM21million each totaling RM42million; and
2. Tan Sri Nik Awang @ Wan Azmi Bin Wan Hamzah and Gelombang Global Sdn Bhd will pay the RM42million in advance as loan subject to interest to replace the loan of RM20million by Sharp Ascend Ltd, hence there will be an additional RM22million cash flow.
Do you think we are smarter than these people? of course not !!
They know more than us and before hand, they even anticipate what will be triggered including the equity spread with the money they pump in! After all, is all structure numbers game !
Most importantly is the biz prospect they see what we don't , they know what we don't ! It Is not only what, but also who !
So, to be on the safe side, while waiting for the news announcement , monitor the share accumulation activities.
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Posted by 1769499576426031 > 2019-09-12 13:25 | Report Abuse
If bursa approve should be good.if bursa reject bye bye.