KUALA LUMPUR: TH Heavy Engineering Bhd, which is involved in the fabrication of offshore oil and gas (O&G) facilities, saw its share price fall 1.5 sen or 4.17% yesterday to 34.5 sen, with about 16.3 million shares traded, a day after banking tycoon Tan Sri Quek Leng Chan ceased to be a substantial shareholder in the company.
According to a Bursa filing on Wednesday, the billionaire had disposed of some 38.86 million shares of TH Heavy (fundamental: 0.35; valuation:0.3) via his indirect stake in Guoline Capital Ltd, Guoline Capital Assets Ltd, Hong Leong Co (M) Bhd and HL Holdings Sdn Bhd.
Quek, who is rumoured to have an interest in the O&G industry, chairs privately held conglomerate Hong Leong Co (M) Bhd which is involved in the finance, property and food sectors.
Quek first emerged as a substantial shareholder in TH Heavy in May 2013 with 92.8 million shares or a 9.09% stake in the company.
With the disposal yesterday, he should still hold about 53.94 million shares or about 4.81% indirect stake in TH Heavy.
He also has an indirect 6.49% stake in marine offshore service provider Alam Maritim Resources Bhd through his vehicle Associated Land Sdn Bhd, after emerging as a substantial shareholder in Alam Maritim last year.
His associate Paul Poh also holds a 7.86% stake in Alam Maritim (fundamental:1.6; valuation: 1.1) through his vehicle Caprice Capital International Ltd.
Recent breakout was push down back below 0.35 The players are supporting and also blocking the price. Moving sidway back again. Either accumulation, luring more buyers/sellers before next wave. Break out from 0.35 and strong big buyers needed for more +ve uptrend.
annmix: Stock price changes everyday same goes with support & resistance lvl dpd on buyer/seller queues daily. Nothing is forever same especially in stock.
Only novice don't know and they only come make noise when price consolidate/down. When price moving up... they just keep quiet. Typical small player with no investment plan. Just ignore them....
Just hold on to it tightly with your respective stop loss and remember as what viper posted before about the right issue so just wait for that surely the price will go up. I just feel it takes time to consolidate before it goes up. It is still a sideway tred so hold on else cut loss and go other counter. Very simple, please go and analayze the efficen solution counter, it takes days to consolidate and at last it break to uptrend. Do your homework well man. It's all about yourself. wanna wait or take sl and go away.
Sorry maya i still make money on thheavy even its down.. Im eating abalone better than u eat own shty since feb.. Always jus talk nonsense, but hv to thanks to u too i made on krono also
Man, I seriously waiting for the right issue, surely alot of people would have interest and the price surely up then SELLLLLLLLL!! I don't wanna keep any longer anymore
28May EGM.. still waiting for RI confirmation. Price low due to RI spook and no big players buy/push up.. happen like last year RI proposal also price went down. When RI cancel price start moving up strongly.. big players game.
Those short term player with no fund to subscribe for RI worry share price will dilute after ex-RI. So if RI cancel.. they no worry and will push up price prior to the RI proposal high price since its already oversold/price in the fear of dilution ex-price. Whereas those long term players with big fund will continue to accumulate shares at low price before ex-RI and will also buy more coz can get subscribe more shares cheap at only 25 sen later.... no matter the right issue proposal get approved or cancelled.. they will still make money either way.
Current play only block at 0.30/0.305 - 0.310 with big queues.. its like want to lock transaction buy and sell at that price for the past few week. Headless direction pending the right issues approval and big player not taking any actions yet.
Last year 7 Oct, TH Heavy Engineering has proposed rights issue with a bonus issue. The rights issue comes with a 1:5 bonus issue. Price was around 0.80+ but with so many -ve newsplay and warrant expiry at December.. price drop till 0.52 and later drop further 0.365 and bottom at 0.275/0.28 with layoff manpower news. After bad news subside, oil price stabilize, price start picking up slowly towards 0.36 back.. and with cancellation of right issues.. price rose till 0.39.
Later new right issue proposal out.. price still went up till 0.455 and weaken back sliding towards 0.36+ and further low at 0.30+/- lvl currently. High vol transaction recorded from last year Oct till Feb this year..but vol was much lower since Feb 16 then till now about 3 mths already.
Based on current market price, its quite unattractive for right issues proposal to get approval for coming EGM and alot shareholders will be making noise there.
Viper I got the voting request whether the right issue should be proceed or not and according to your statement its better to reject the right issue right .. I feel the same way as you been educatingsince long time ago .. Have you voted behalf of your rights
viper, I am very surprised that you still have the guts to be around in this forum after sharing all sort of nonsence and misleading info. Look back at what you had written. If I were you, I will hide myself & do some self reflection. Shame on you and the investment community is so disgraceful to have someone like you. Be a bit humble and stand to be corrected if you wrong. Anyhow, no one in this world is perfect. What I had shared earlier in this forum has proven to be correct as the share price had gone down below RM0.30. For those who listen to you, I really sympathize them.
rishi: voting is individual own decision. Previous RI proposal cancelled because price drop too much and its 1:5 will makes the share value dilute even much lower.
Base on market price if the current price is low/close to the right issue price, its not attractive from investment point of view because existing shareholders/ investor will rather buy/subscribe after ex-right issue price but for big shareholders/player for long term they still accumulate to subscribe more shares later after ex.
Recent RI at 50 sen by KNM price drop after proposal from 0.80 till 0.41 before rise up high back till 0.80 before ex-RI and after ex drop to around 60 sen +.. Big player game.. swing price down and shoot up back...
Quek first emerged as a substantial shareholder in TH Heavy in May 2013 with 92.8 million shares or a 9.09% stake in the company.
With the disposal yesterday, he should still hold about 53.94 million shares or about 4.81% indirect stake in TH Heavy. =========================================================
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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....
colonese
140 posts
Posted by colonese > 2015-04-18 23:20 | Report Abuse
crude oil price increase. good for th. hope up up until. 0.400 next week.