Posted by tommylou > 2012-11-25 19:10 | Report Abuse

Hak hei hak hei :-)

Posted by KC Loh > 2012-11-25 19:47 | Report Abuse

"Companies with negative earnings, measured by depleting cash flows, could also resort to private placements to raise capital because it could no longer borrow, he said! "with a negative perception of their performance, its difficult for these companies to convince the public to buy their shares and to secure financing from banks," he said, adding that such companies may perhaps only bank on a strategic investor being a white knight with not just cash, but the ability to bring in new business"

~ excerpt from http://www.theedgemalaysia.com/features/211015-bull-or-bear-poser-over-private-placements.html


sounds familiar? I think IJM should not have to worry even if the ICSLs are called!

Posted by littleshark > 2012-11-25 19:52 | Report Abuse

Is ok as a lot of ppl has bn talking abt Gen Y recently. That even happen in my office bout how troublesome working with Gen Y,etc.. Luckily im a gd mixture of Gen Y&X.. Hehe..

Posted by KC Loh > 2012-11-25 19:53 | Report Abuse

Gen-Y is a nicer way of putting it than "young farts"! LOL

Posted by tommylou > 2012-11-25 19:54 | Report Abuse

Coporate expertise is with ijm, business expetise and savvy with Abu

Posted by littleshark > 2012-11-25 20:14 | Report Abuse

Hoho KC Loh Gen Y/X also nvr mind.. I juz want to be a Gen $.
Yup thx for ur sharing on Edge news also. Tommy let the war begin&im part of a little soldier here

Posted by pathew > 2012-11-25 20:15 | Report Abuse

Lol, want to create a corner to talk bout Gen Y?
Don't worry, I'm a mix of X &Y. So I'll try to be impartial... Lol

Posted by KC Loh > 2012-11-25 20:19 | Report Abuse

mix of X&Y = pondan!

Posted by pathew > 2012-11-25 20:23 | Report Abuse

Bro KC, XY chromose = male la
Maybe XXY = pondan

Posted by KC Loh > 2012-11-25 20:25 | Report Abuse

ok, you are the expert! I am not familiar with matters transvestism nor transexual!

indeed a slow sunday for me! :)

Posted by pathew > 2012-11-25 20:33 | Report Abuse

Kc, still picking up scomi at curr prices?

Posted by KC Loh > 2012-11-25 20:37 | Report Abuse

done for the moment! waiting for targets next year!

Posted by richrich8 > 2012-11-25 20:42 | Report Abuse

kc, you pick-up scomi and wait for it to raise next year? mind to share your target price?

i am keeping Scomi, Alam and THHeavy (trapped).. haha..

Posted by KC Loh > 2012-11-25 20:56 | Report Abuse

TP? at least 62 sens! but that's just me! could very well come early! just waiting for some news! but IJM entry is too slow for my liking! :)

Posted by richrich8 > 2012-11-25 21:02 | Report Abuse

am observing the price movement. i still keep its 200k wa @ 0.25.. maybe i am not going to convert and buy the mother at lower price... hope the mother can help me to gain back the 5K losses buying its wa..

what a big mistake for still keeping the wa.. thought mother will up higher before wa expiry.. wrong bet.. :(

Posted by lonelyreload > 2012-11-25 21:28 | Report Abuse

<<< gen y ~

Posted by passerby > 2012-11-25 22:28 | Report Abuse

today is Sunday, you guys don't have to spend time with family? :)

kcloh: since when i became a stalker, lol :) ? tonylim announced it himself le

Posted by tonylim > Nov 16, 2012 04:45 PM | Report Abuse

passerby, 2 weeks window for saving 40,000 rgt

tonylim: the way of your asking is a lot more better - looks comforting & softer but it'll not do any good to kytan. A more direct message will make him tougher trader & he'll remember his mistake for quite some time.

Ppl say i'm stalker & you have been warned :)

kytan: sorry in advance if my words to rude, paiseh paiseh :). The few postings on these thread is not sufficient for you to know how WA works. You'll need to read more. Pls don't reveal how much you have in FD here - people are saying i'm stalker :(, very dangerous !

tommylou : i'm not sifu & also far from being sifu - so don't put unnecessary pressure to me. :)

Didn't expect so many reacted over the Gen-X & Y stuffs, it should be stop by now, else everything on Scomi become Gen-X & Y stuffs.

All Dunkin fault for not knowing what is mia ! :)

Posted by passerby > 2012-11-25 22:34 | Report Abuse

Shah stake is very close to Abu & Co http://klse.i3investor.com/blogs/valueinvestorresearchklse/20953.jsp

Posted by KC Loh > 2012-11-25 23:49 | Report Abuse

stalker and sulker (if there is such a word!)! LOL

Posted by KC Loh > 2012-11-25 23:52 | Report Abuse

http://klse.i3investor.com/blogs/valueinvestorresearchklse/20953.jsp

they are making it interesting for the sake of sensationalism. That means Kamalludin has only 1%+ stake all along and they are trying to make it like Kama is the tie-breaker. Please see la what other sta(l)ke holder says! :)

my bet is the current MD of IJM, sitting on the board of Scomi will have something to say about it also or maybe even influencing the board!

Posted by tommylou > 2012-11-26 00:07 | Report Abuse

Kc you are for Krishnan.....he is an old fren....I wish him well too.....But Abu is diff breed for short term player like me for this portfolio....

Posted by KC Loh > 2012-11-26 00:10 | Report Abuse

noted. let's have the OK Corral now!

Posted by tommylou > 2012-11-26 00:12 | Report Abuse

Ok coral is 4 vs the whole town....

Posted by tommylou > 2012-11-26 00:14 | Report Abuse

As I have mention earlier, the corporate game will side Krishnan but the quick turn around will side Abu.....

Posted by tommylou > 2012-11-26 00:15 | Report Abuse

Why in Abu concern you kc.....maybe you can help me here?

Posted by tonylim > 2012-11-26 00:25 | Report Abuse

I thought abu a close confidant of apa nama.
Not enough weight tommy

Posted by tommylou > 2012-11-26 00:28 | Report Abuse

Very close....he is business man....not so much corporate man. So for Abu anything goes.

Posted by tommylou > 2012-11-26 00:30 | Report Abuse

But then again he cannot show he is standing on Kamaluddin s side....I don't think apa Nama will be involve in this unless sons have a angle.....maybe scomi marine to support spk

Posted by tommylou > 2012-11-26 00:33 | Report Abuse

One thing abt apa Nama is that the man is very focus........if he wants it , it will b specific target....no frontline sideline etc...

Posted by KC Loh > 2012-11-26 01:23 | Report Abuse

hmm tommylou, your question merits an answer on my part... abu came in as an investor solely for himself. Had i seen any hint of offering for cash injection or even a whiff to drag Scomi out of the maturing credit notes back in July, when Scomi was cash strapped, then he would be a fast turnaround as you said. Shah instead pursued IJM over many years, as report goes, and a deal was reached under the auspices of the SC.

Abu's voting out IJM, if it ever leads to that, should have repercussion. IJM was given a private placement in exchange for cash to satisfy the creditors. If Abu scuttles this, and if IJM takes legal action for a recourse what will be the legal bearing on Scomi's financial rating standing with MARC thereafter?

who abu is close to, as for the moment, does not bear down on the fact that the above is already a done deal. A private placement was done and it has to be honored. If Mahathir himself is vindictive, the worse possible scenarios is the withdrawal of the marginal oilfields Scomi is frontrunner currently, maybe total withdrawal of Petronas support and even the voting out of Shah in a boardroom tussle if Abu demands proxies within. will it lead to that? i believe many Mahathir observers will think all is possible. Lets cross when we come to that bridge!

Posted by KC Loh > 2012-11-26 01:53 | Report Abuse

further reading here, tommylou:

http://www.ijm.com/web/newsroom/what_121003_st.htm

http://biz.thestar.com.my/news/story.asp?file=/2012/9/27/business/12087813&sec=business

http://www.ijm.com/web/newsroom/what_120927_ed.htm

http://www.theedgemalaysia.com/in-the-financial-daily/225426-shah-hakim-holds-1295-stake-in-scomi.html

Mahathir is know to have bought serious investment frowns in his tidak peduli attitude. Some of the more infamous ones are Maminco, Makuwasa BMF, the UEM buyout of Renong, his rescue of MAS from TR, bailing his son out of MISC, and latest is Petron getting sweet deal at expense of MAS. Yes, he can wield such blatant authority, but in this case, i am hoping that the letters of the law and rules of fair play can be achieved, in this coming election year! :)

Posted by tonylim > 2012-11-26 02:02 | Report Abuse

kytan, your cds opened 1st nov? I was about to ask you if you bought the 2 sen wa in early sept.

How old are you?
Got so much money to put into bursa?

Posted by kytan > 2012-11-26 06:27 | Report Abuse

37. when i bought it i just follow trend and don't even know that is expiring date for -wa. haha. Anyway 4Kcan win back by focus on the share with 40K investment. Last Friday 1OK for tiger at 0.305 and sell at 0.345.

after 1 year, i plan to retire and invest in bursa..target average earning/day is RM400..should be achieveable.

Money from hard saving when work oversea 5 years. first investment is buy palm land..you know last few year the profit is very good. don't even think about installment cause the sales can cover it already. Fully settle.

2nd Investment is sell my apt at penang island..price up last 2 years but not earn much due to first house take 10 year installment.

3rd investment is current apartment..selling price is increase 50% with only 30K to settle. but not point to settle due to bank contract and interest saving not much. Only retired from current work will sell it and stay at kampung.

Due to property investment at current time is not good, investment cost is high and less return. Better keep cash and make the cash earn cash until good oppurtunity come.

so this is my investment cash earn cash. Bursa.

Posted by tommylou > 2012-11-26 07:16 | Report Abuse

Kc, I will b crude to say this, mahathir doesn't really bother me, neither does ijm. For a 3x to 4x cents stock, only thing that bothers me is how quick to convert.....target for this is 50 to 60% up .....if I am waiting for debt to recover and restructure, I wouldn be here for penny stock. Have a look at the trends ie TA.

If nothing drastic happens in short term, the wait will b LONG!

Posted by passerby > 2012-11-26 08:36 | Report Abuse

kcloh @ 25 Nov,2012 2:24pm . I gave it a thought also

When Abu & Co entered, do they

1) know there will be corporate exercise going on with IJM soon ?
2) don't know about 1) but got a long term plan for Scomi?

I'm more incline to believe the probability for 1) to happen is higher because their timing of entry is just too good to be true. Furthermore, Abu & co also have stated their stand before that they have no intention for board representation & their entry is as investor only, hence option 2) is less likely

If really option 1), their true intention is to make a quick bucks.

When Abu & Co first threaten to block the IJM ICLSs via their letter to TheEdge, most likely they purposely want public to know their threat & that threat serve as other purpose - to conceal their real intention. I'm not going to believe someone like Abu & Co is going to announce their war strategy to their enemy at public unless they are intending to lure their enemy for something else. They could have block the deals easier if they keep quite, collect sufficient stake & kick Shah's ass out of board during EGM with a surprise & only do announcement on their action later.

Their true intention after all, might be wanting both public & Shah/IJM pack to go after the Scomi shares at the market. Public to after the share for speculation on the corporate tussle, Shah/IJM to after to ensure their deal go on smoothly. When demand outnumbered the supply,the share price will sky rocket, that might be the time for Abu & Co to unload & cease to be major shareholder.

On the Shah/IJM pack, looks likely they cannot afford the deal not to go through also especially Shah. The moment Abu & Co increase their stake, Shah will have to increase his stake also. It looks like Abu & Co game play from the beginning.

On whether underlying to rise after WA expire, I believe more that underlying price will rise the moment they announce the EGM date, that is when the war starts. WA is more like a "insurance" when the fight for underlying in the open market become out of control with interruption from public. They will only starts to convert WA when underlying price shoot higher than their budget - the cost to acquire certain % stake with limited funding. if the have unlimited funding, then it is different story. If market offer cheaper alternative to increase the stake, I believe they will get it from market.

If the WA expired, they have less option - no back up army. Only to go for underlying from open market with the limited funding, that will make the supply of underlying even scarce if war really happen.

But, the question is, will Abu & Co go to that extend if their real intention is just to make a quick buck ? If their intention is to make quick bucks, converting WA with massive loss doesn't look like a option.

Say even though they manage to block the deal by converting WA at massive loss & raising the stake from public, will they accomplish their main objective ? this part I'm clueless & still thinking of the possibilities

perhaps other can add, refine & correct the above, 1 brain got limitation, more brains are needed :)

Posted by passerby > 2012-11-26 09:33 | Report Abuse

kytan - how much they are selling the agricultural land per acre at Seberang Prai now ? :)
Normally land purchase margin of financing only up to 50% max, you must have dump a lot of cash into it.

Posted by King Kong73 > 2012-11-26 09:53 | Report Abuse

just enter again today at 0.375...shah you can buy my stake anytime.

Posted by bursabulltrader > 2012-11-26 10:24 | Report Abuse

Guys, SCOMI looks weakening base on its dsc triangle formation... more downside seen towards 30/31... be caution...strong resistance still @ 0.40...

Posted by ashrizal1 > 2012-11-26 10:36 | Report Abuse

Passerby- i am have been sideline for sometime, after temporary quit the market and cash out all my money, but now i believe when both party (abu & Shah)acumulating, both party must realise something verry profitable to gain control of SCOMI. then my question is what for?

Shah is with his agenda to revive SCOMI to become main player on its field. but Abu is looking to profiting from his investment, the feud between abu and shah has make small investor feel unsafe and start to unload their stake, but at the same time FA investor still intact with believe this share will start it show soon, and keep acumulating but no push up activity, and now the price hass been at 0.37, my opinion 0.365 is the botom price so its worth to buy.

then after deep thinking, looking the simple chart, and a bit of speculating in nature i am Q and succed at 0.37 all my capital. now i have all my egg in 1 basket weither i will look my egg turn to gold or i will see it opposite way, i will pray the egg will turn to gold.

Posted by King Kong73 > 2012-11-26 11:12 | Report Abuse

i too will pray that your egg and my egg will turn to gold

Posted by King Kong73 > 2012-11-26 11:15 | Report Abuse

shah is fighting hard to protect his interest. Scomi is his baby..he will not go down without a fight...share price will go up as Abu & Co fight with Shah...my money is on shah

Posted by passerby > 2012-11-26 11:23 | Report Abuse

That is Abu & Co intention wanting Shah to fight hard but will Shah play their game? or he got any backup plan to avoid that or make Abu & Co play his game play ?

Posted by tommylou > 2012-11-26 11:24 | Report Abuse

Kc, very elaborate breakdown.....well this is my part of the rationale.....Abu is more a business man more than investor.....he may have come in as investor but the happenings has overwhelm him to bring in Mah who is a stronger corporate And connected man. I believe apart from the direct share ownership , there are some hidden hands and also conversion. I think Mah is there for that......

Posted by KC Loh > 2012-11-26 11:27 | Report Abuse

leaving all speculations aside, passerby, the worrying part for me is only if IJM is taken to court by Abu/Siew. whilst it may not happen, one must never discount this news! There is a reason why they are increasing their stake subsequently to match closely with Shah. Abu may just turn out to be chairman of the board (ala Carl Icahn)! That fact is where the damper is! This could still lead to a boardroom tussle making an already downtrend market even more panicky!

Posted by tommylou > 2012-11-26 11:29 | Report Abuse

Anyway, would anyone bring in a partner if there is no angle to this cornerstone......either win or loose, the 2 Abu and Mah will gain something. Otherwise he wouldnt be there.....a businessman will never just support a fren if there is nothing to gain....not at Abu's level !! If he loose as minority, we will win and if he win as majority short term will see gain w his brand of change...

Posted by KC Loh > 2012-11-26 11:32 | Report Abuse

that remains a speculation tommylou. That's why the investors are watching too! in Malaysia, you never know when you invoke the higher powers in place.

all i know is, powerful people when they sulk, can leave serious consequences!

I know you are betting on smart money, but that was when it was suppose to be around 29 sens when Siew & Abu started to buy in! The climb, even before all contracts are announced, are already factored in by the market! you won't see any other big players coming in for a while, and in that, yes a possible long drawn battle maybe in the cards! but the positive thing is, the other resolutions (especially the bond conversion) and awards won't be! :)

Posted by KC Loh > 2012-11-26 11:36 | Report Abuse

the change positives are only Malaysian centered. they may be serious doubt over corporate governance and underhand tactics with their current partners abroad, especially those deals done in Brazil & India.

Posted by tommylou > 2012-11-26 11:41 | Report Abuse

The focus will be on the mother ship......won't be at the eng or marine........btw check the % own under scomi the 2

Posted by KC Loh > 2012-11-26 11:51 | Report Abuse

passerby, your posting at 8.36am. there's always Plan B for Abu eh? that's why he is liked by Mahathir for being smart for the past 20 years!

Posted by kytan > 2012-11-26 13:11 | Report Abuse

passerby, the land at Perak not Penang. RM 54000/acre. half year ago the price is RM130,000/acre. Total interest to bank only RM6000. fully settle in 22 months