Posted by KC Loh > 2012-10-15 18:59 | Report Abuse

wonder why not divesting scomien? hehehehe

Posted by Ching Yin Carrot Loh > 2012-10-15 19:17 | Report Abuse

Soon soon=)hiak hiak

Posted by KC Loh > 2012-10-15 19:45 | Report Abuse

more reading from the Edge. now their share price is primed up, debt settlement duty is satisfied. I now believe they have charged their shares to creditors of which Scomi undertook to cover the margin on losses! Thank IJM! :)

http://www.theedgemalaysia.com/business-news/223013-scomi-cancels-sale-of-units-worth-rm78351m-after-share-price-surges.html

Posted by KC Loh > 2012-10-15 19:50 | Report Abuse

looks like scomimr is a bargaining chip :)

have to keep Abu happy la! dont think Mahathir would want to see IJM only have a big say in scomimr when O&G tenders are won! aiseyy.... so easy to read them! :)

Posted by tonylim > 2012-10-15 20:18 | Report Abuse

KC tomorrow the price of SGB will perk up or spike down?

Posted by Ng Kai Yau > 2012-10-15 20:19 | Report Abuse

Do remember, albukhary is a major share holder in IJM

Posted by Ng Kai Yau > 2012-10-15 20:19 | Report Abuse

end up who is the real winner?

Posted by Ng Kai Yau > 2012-10-15 20:21 | Report Abuse

sorry, if i m not wrong is albukhary. Correct me if i m wrong

Posted by DUnkin > 2012-10-15 20:22 | Report Abuse

steady...steady...

Posted by KC Loh > 2012-10-15 20:32 | Report Abuse

tonylim, its possible on herd mentality. but by right it should not because the announcement of exercise date is not even in effect and this is renounceble!

Ng KY, i dont think albukhary is involved in IJM. His flagship is MMC. and yes, he is confirmed Mahathir's blue-eye boy!

Posted by KC Loh > 2012-10-15 20:35 | Report Abuse

if the exercise is done, price should spike up, because it will leave scomi with cash, considering exercise of 1-for-5 at 45 sens! and Scomi is releasing 284mn shares X 45 sens. you do the maths on the cash holding thereafter!

Posted by Ng Kai Yau > 2012-10-15 20:38 | Report Abuse

I do remember Tan & tan is selling 20 odd % of share to somebody, who is the person? do u remember?

Posted by kcfan > 2012-10-15 20:39 | Report Abuse

Bro kc,I'm confuse on your words.totally missed..only to say "You so good".

Posted by KC Loh > 2012-10-15 20:42 | Report Abuse

Ng, hmmm.... possible. wont be surprise its albukhary behind the scene too. but a little awkward as MMC is also a construction giant! not impossible that albukhary is also gaining, cos MMC debt is soaring!

kcfan, i am confused by your posting too! :)

Posted by Ng Kai Yau > 2012-10-15 20:48 | Report Abuse

Zelan hold some share in IJM and albukhary also indirectly own IJM share throught his SPV

Posted by KC Loh > 2012-10-15 20:49 | Report Abuse

thanks Ng, you are really updated on all matters Syed Al-Bukhary! ask him buy more flour from MFlour ya? LOL

Posted by Ng Kai Yau > 2012-10-15 20:51 | Report Abuse

ya, hahahahah. But without instruction he cant move a lot.

Posted by KC Loh > 2012-10-15 20:52 | Report Abuse

yeah, that is the price you pay for being a tycoon under BN :)

Posted by Ng Kai Yau > 2012-10-15 20:55 | Report Abuse

scomien, what ur bro kc say is correct. buy high sell higher

Posted by tonylim > 2012-10-15 21:04 | Report Abuse

Kc Loh , can I just say that submarine shares will remain flat for a while, or are there more than meet the eyes so we go along.

So the oil downstream biz will remain with SCG?

284mn shares X 45 sens = hmmm RM 127.8 million

Posted by pathew > 2012-10-15 21:11 | Report Abuse

Exciting times I must say...
Those on scomi's plane, rocket or submarine are in for more than meets the eye

Posted by KC Loh > 2012-10-15 21:13 | Report Abuse

yup, submarine shares looks to be in the oasis of 45-46 sens then if this exercise is carried out. looks like concentration on scomi now, because the biggest investors are there!

the million dollar question now is, is this 127.8mn declared as extraordinary item? retained earnings? dare i say, special dividend coming? hehehe

everything is conjectural at the moment! no harm building castle in the air next two weeks! :)

Posted by Ng Kai Yau > 2012-10-15 21:18 | Report Abuse

http://mokhtaralbukhary.blogspot.com/

Posted by pathew > 2012-10-15 21:19 | Report Abuse

This will fuel more upwards momentum for scomi group.
I believe submarine has further potential for upwards movement as well...

Otherwise who will wanna buy submarine when there's no difference from open market?
And that would mean scomi can't get the 128m cash flow for releasing submarine shares....

Food for thought...

Posted by Ng Kai Yau > 2012-10-15 21:30 | Report Abuse

128 mil for MOF financing?

Posted by pathew > 2012-10-15 21:35 | Report Abuse

in the short term, the powers that be will push scomimr share up so that ppl will take the RM0.45 offer and that will release RM128M to their coffers.

Thereafter, you will see submarine shares go back to 0.44 - 0.46 range :P

My 1 cent comment :)

Posted by gray > 2012-10-15 21:45 | Report Abuse

Honestly, the edge deserves to be spanked real hard ! Where in the world did scomi announce that they would be cancelling sale of the proposed disposals?

The edge title :- (they have disabled the copy and paste function for their articles...surprise surprise? if u want to see full article, assuming they haven't changed it follow kcloh's link)

Scomi cancels sale of units worth RM783.51m after share price surges

Bursa Announcement;-
On behalf of the Board of Directors of SGB (“Board”), Maybank Investment Bank Berhad wishes to announce that after due and careful deliberation, the Board (save for Dato’ Sreesanthan a/l Eliathamby who has voluntarily abstained from deliberating and voting on the Proposals and Proposed Exemption)** has decided not to proceed with the Proposed Offer for Sale ** and in arriving at its decision, the Board (save for Dato’ Sreesanthan a/l Eliathamby) had taken into consideration the performance of SMB Shares during the period commencing from 24 July 2012, being the date of the announcement of the Proposals, up to 12 October 2012, being the last full trading day prior to this announcement, and the price of the SMB Shares to be offered pursuant to the Proposed Offer for Sale which was intended to be at a discount of not more than 10% to the issue price of the SMB Shares pursuant to the Proposed SOL Disposal of RM0.47 per SMB Share. �

Notwithstanding this, the Board will continue to evaluate proposals from time to time in the best interest of the Company and its shareholders.

****In respect of the Proposed Disposals, the Company will be seeking the approval of its shareholders in due course at an extraordinary general meeting to be convened.

Posted by Frank Soweto > 2012-10-16 07:15 | Report Abuse

Attention all Passengers. This is the Pre boarding call for Flight SGB 1668 to Moon. All the Economy class seats(below .40)are taken however we still have a few more Business class (.40.5 - .45) and first class seats(.455- 1.00) available and this will be on a first come ( or first buy :)) first serve basis. This will be our first and only historical man manned flight so please do take this opportunity to be the first few privileged (ahem! brag2)travellers. hehe

Posted by ramunia > 2012-10-16 07:27 | Report Abuse

good or bad?????

Posted by ramunia > 2012-10-16 08:01 | Report Abuse

what will be the effect on Scomimr?

Posted by bursabulltrader > 2012-10-16 08:22 | Report Abuse

End game for SCOMIMR I would say...Start game for SCOMI. Seeing the plane passengers all still sleeping best to avoid panic button...hehehehe :-)

Posted by littleshark > 2012-10-16 08:26 | Report Abuse

Hoho im in seating comfortably in economy class now..

Posted by Ng Kai Yau > 2012-10-16 08:34 | Report Abuse

The offer for sell of Scomimr share to scomi group share holeder @ 0.45 is based on par value. I believe if end of the day the deal go throught, the share price offer to scomi group share holder of scomimr share will still have to base on average market trading price not as descript. @ 0.45 sen. Correct me if i m wrong

Posted by DUnkin > 2012-10-16 09:10 | Report Abuse

why today......T_T

Posted by pathew > 2012-10-16 09:11 | Report Abuse

wow, heavy unloading big time!
parachute ready?

Posted by bursabulltrader > 2012-10-16 09:12 | Report Abuse

Guys...I already jump out with my parachut at 43mph... anyone follow??Luckily my parachute still working... :-)

Posted by Ng Kai Yau > 2012-10-16 09:13 | Report Abuse

do u think this a chance to shake u out?

Posted by pathew > 2012-10-16 09:15 | Report Abuse

possibly.... nose dive quite abit will cause panic and selling pressure!

bulltrader, ur technical charts say what?

Posted by fandi > 2012-10-16 09:18 | Report Abuse

Speculative counter with weak fundamental that requires bail out. Pity those who jumped in at high price.

Posted by passerby > 2012-10-16 09:20 | Report Abuse

i'm waiting for my economy seats..yes

Posted by pathew > 2012-10-16 09:21 | Report Abuse

lol passerby!
you key-in at what price?

Posted by passerby > 2012-10-16 09:22 | Report Abuse

cannot tell la wei, later you cut my queue :)

Posted by bursabulltrader > 2012-10-16 09:25 | Report Abuse

Selling pressure will continue...support 415... road block 435... will see how it goes and may re-enter.... if have chance can exit 1st... Me weak hard, hv to strictly follow my plan...if not later kena profit squeeze.

Posted by rocket > 2012-10-16 09:41 | Report Abuse

ah hai,, time to go in :)

Posted by Frank Soweto > 2012-10-16 09:41 | Report Abuse

opps guess they didn't like the news hehe

Posted by Frank Soweto > 2012-10-16 10:12 | Report Abuse

hmmm aiyoyo little bit like that all cabut - then how to 'cho tai tze'

Posted by rocket > 2012-10-16 10:14 | Report Abuse

yi lan mai cho lan cho la..wahahaha
一点小雨就跑了？aiyoyo

Posted by KC Loh > 2012-10-16 10:15 | Report Abuse

Wow... such big fall.. 2 sens! Sob sob

Where my parachute?

Posted by rocket > 2012-10-16 10:18 | Report Abuse

KC, you sure u want to jump?

Posted by rocket > 2012-10-16 10:21 | Report Abuse

calling 红萝盘，still eat wind?is going to eat west north wind already lol