AIZO GROUP BERHAD

KLSE (MYR): AIZO (7219)

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Last Price

0.145

Today's Change

0.00 (0.00%)

Day's Change

0.14 - 0.15

Trading Volume

11,610,500


20 people like this.

18,635 comment(s). Last comment by Eagle77 9 hours ago

KAQ4468

21,497 posts

Posted by KAQ4468 > 2015-01-17 14:06 | Report Abuse

U all keep playing with this donkey 0008 ...I love it !!

My lovely pet

juinming0304

1,161 posts

Posted by juinming0304 > 2015-01-17 14:22 | Report Abuse

trader share is ZERO cost !

paulthesotong

2,827 posts

Posted by paulthesotong > 2015-01-17 15:37 | Report Abuse

19-01-15 is the day that turns sour. I dont think the deal will go thru.

Bu Steven

306 posts

Posted by Bu Steven > 2015-01-17 20:40 | Report Abuse

Chasing died very fast

Bu Steven

306 posts

Posted by Bu Steven > 2015-01-17 20:42 | Report Abuse

Later will down to same utopia & ingenco 0.045cents

Bu Steven

306 posts

Posted by Bu Steven > 2015-01-17 20:45 | Report Abuse

Throw down to 0.095 with big volume 264747700

Bu Steven

306 posts

Posted by Bu Steven > 2015-01-17 20:47 | Report Abuse

Never have a such big volume becareful

flyup888

455 posts

Posted by flyup888 > 2015-01-18 01:38 | Report Abuse

always also have big volume..

ronnykow

53 posts

Posted by ronnykow > 2015-01-19 10:42 | Report Abuse

is it going down slowly??

Posted by nissansuny1234 > 2015-01-19 12:29 | Report Abuse

my opinion only will up to 20

0008

1,603 posts

Posted by 0008 > 2015-01-19 13:12 | Report Abuse

You all just hope no bad news to come out !

richkid

8,140 posts

Posted by richkid > 2015-01-19 15:21 | Report Abuse

Who dare to go in? Last time Glotec reached 1 billion shares huge volume also...at 14 cents peaked...then went down to 6 cents...currently laying low....many caught.... so will this be the same? Huge volume dumping and slowly...retreating to a lower low? Only time can tell.

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-19 15:35 | Report Abuse

value at .135

stncws

10,704 posts

Posted by stncws > 2015-01-19 21:08 | Report Abuse

MINETEC (7219) : Minetech to finalise its property venture by end-January
admin | 1/19/2015 11:29:00 AM |


MINETEC (7219) : Minetech to finalise its property venture by end-January

KUALA LUMPUR: Mining and civil engineering outfit Minetech Resources Bhd , which is seeking a waiver from making a mandatory general offer (MGO) from the Securities Commission Malaysia (SC) pursuant to its proposed acquisition of Glamour Heights Sdn Bhd (GHSB) for RM27.45 million, expects to finalise the due diligence process by the end of this month.

“It has always been our ultimate aspiration to be a property developer in addition to being a contractor, but the [legal and financial] due diligence [on GHSB] is still ongoing. We expect to finalise the exercise by end-January,” executive director Matt Chin Leong Choy (pic) told The Edge Financial Daily in an interview.

Minetech (fundamental: 0.95; valuation: 0.6) had in November last year signed a memorandum of agreement (MoA) with GHSB to acquire the latter and two of its existing projects — The Meru Dream Park and a condominium — at a RM27.45 million price tag, which would be fully satisfied via the issuance of new shares of 15 sen.

It had noted that this method, however, was likely to trigger a MGO by GHSB as one of its key persons, Low Choon Lan, who is Chin’s mother, currently has a 28.58% indirect stake in Minetech. Thus, the group is seeking a waiver from the regulator.

Nevertheless, Minetech had previously stated that it would consider a combination of share issuance and cash payment to satisfy the purchase consideration.

Chin said the management has already engaged with the SC in seeking for the MGO waiver, but has not secured an approval yet.

If the deal materialises, this will be its maiden foray into the property development market, with Chin predicting that the new business will make up about 30% of the group’s revenue in the future.

Minetech registered a revenue of RM122.5 million in the nine-month period ended Sept 30, 2014 (9MFY15), down 20.4% from RM153.9 million a year ago.

Of this total, 31.1% is contributed by its civil engineering business, followed by its quarry products segment at 27%, premix products (22.6%), bituminous products (15%), and others (4.3%).

However, the group swung to a net loss of RM397,000 in 9MFY15 from a net profit of RM1.13 million a year ago, due to the write-off of old fixed assets and those with net book value of less than RM5,000 per unit.

Chin said revenue for FY16 ending March 31 is likely to be flattish at between RM150 million and RM200 million. The group has changed its financial year end to March 31 from Dec 31, starting the current financial year (FY15).

“We have been doing some ‘house cleaning’ (write-offs) since 2013, which is part of our corporate strategy. In 2015, we will be working on enhancing our (profit) margins,” said Chin.

Chin believes that Perak’s property market has potential to grow being a second-tier state despite the current slowdown in the overall industry.

It is understood that the project that caught Minetech’s eye in its proposed acquisition of GHSB is the condominium project in Bercham, Ipoh. Dubbed “Glamour Avenue”, the project features a 22-storey condominium block housing 180 units, with a gross development value of more than RM80 million.

Moving forward, Chin said the group will continue to expand its quarry business, following the recent rights issue which had raised RM49.9 million. Out of this, RM20 million has been allocated for acquisition of quarry sites in Peninsular Malaysia and another RM10 million to venture into the heavy machinery business.

Despite being loss-making, shares in Minetech have been in active trading since June last year, following the announcement of its rights issue. The trading volume went much higher after Minetech’s rights share commence trading in November, with an average daily trading volume of 45.1 million shares in last two months compared with 10.1 million shares from June to October last year.

Minetech’s share price closed down 9.52% at 9.5 sen last Friday, with 267.75 million shares traded, bringing a market capitalisation of RM63.16 million.

“I personally think that it (active trading) was because of our recent rights issue, which comes with a warrant attached to it, coupled with several Bursa [Malaysia] announcements that we made,” said Chin.

Meanwhile, Chin said Minetech’s RM15 million offer to sell its wholly-owned unit Minetech Asphalt Man International Sdn Bhd to South Korea’s Asphalt Man International Co Ltd could also be part of the catalysts that drove up its trading volume.

The offer is valid for two weeks from Jan 5, and Chin is confident that both parties can enter into a definitive agreement within this period.

“We (Minetech and Asphalt Man) have known each other for a long time. I believe we are clear on each other’s demands as well. The ideal terms for us is to maintain some shareholding in Minetech Asphalt Man because we stil

stncws

10,704 posts

Posted by stncws > 2015-01-19 22:33 | Report Abuse

tmr 9am.....sure ....fire lol....
maybe mgo or no mgo...see sc

stncws

10,704 posts

Posted by stncws > 2015-01-19 22:34 | Report Abuse

weired is , they bot 11.5 last batch...and dispose 0.095 more share !

pang123

782 posts

Posted by pang123 > 2015-01-20 00:53 | Report Abuse

Looks like they are selling in order they can complete the acquisition without triggering the mandatory take over. But, last Friday selling is far more than today. Not like being reported in bursa.

Bu Steven

306 posts

Posted by Bu Steven > 2015-01-20 11:01 | Report Abuse

Chin already sell 0.095 bye bye happy new year

maggiel

603 posts

Posted by maggiel > 2015-01-20 11:30 | Report Abuse

acquisition finalized, waiting for announcement......

stncws

10,704 posts

Posted by stncws > 2015-01-20 11:32 | Report Abuse

broker is playing the stock...

BILLION_Q

235 posts

Posted by BILLION_Q > 2015-01-20 12:43 | Report Abuse

Hopefully shark still hold lots of stock..if not..all trader die.

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-20 15:28 | Report Abuse

give a call to low choon lan to park her lots at 0.10 upwards n get her daughter to by up lor..

maggiel

603 posts

Posted by maggiel > 2015-01-20 16:02 | Report Abuse

time for me to accumulate this counter.....

ran777rpt

2,945 posts

Posted by ran777rpt > 2015-01-20 21:27 | Report Abuse

thks JT

stncws

10,704 posts

Posted by stncws > 2015-01-20 22:50 | Report Abuse

0.09 DANGER !

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-21 00:28 | Report Abuse

too many projects for no reason to push price down. hopefully sold to some syndic to goreng up very soon cos they can pay projects by shares.

ronnykow

53 posts

Posted by ronnykow > 2015-01-21 09:25 | Report Abuse

seems like today got hope to push up ↑↑↑

ran777rpt

2,945 posts

Posted by ran777rpt > 2015-01-21 10:30 | Report Abuse

The 15 mil plan to sell off asphalt plant called off.Minetech just selling 15% for 1.7mil.

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-21 11:12 | Report Abuse

how to sell assets at good price when Co. share price weak? cannot trust chin as mgmt la ... probably is son-in-law. anyone knows chin's relationship here?

Posted by nissansuny1234 > 2015-01-21 11:41 | Report Abuse

another margin not call yet

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-21 13:36 | Report Abuse

this is non margin counter la...

stncws

10,704 posts

Posted by stncws > 2015-01-21 14:00 | Report Abuse

very danger now!

Posted by nissansuny1234 > 2015-01-21 15:54 | Report Abuse

no pertol already how to burn

stncws

10,704 posts

Posted by stncws > 2015-01-21 21:30 | Report Abuse

Danger liao

almufathal

1,360 posts

Posted by almufathal > 2015-01-21 23:50 | Report Abuse

Still got volume...no problem

kimkowlee

562 posts

Posted by kimkowlee > 2015-01-22 11:18 | Report Abuse

Fight going in. Big show coming?

saifol

482 posts

Posted by saifol > 2015-01-22 13:32 | Report Abuse

hopefully can sustain its upward trend..

Posted by nissansuny1234 > 2015-01-22 14:35 | Report Abuse

don't forget goreng warrant together pulak

zumzum

88 posts

Posted by zumzum > 2015-01-22 17:48 | Report Abuse

run

ran777rpt

2,945 posts

Posted by ran777rpt > 2015-01-22 20:07 | Report Abuse

off market trade of 3.16% done from 9.5 cents to 10 cents

stncws

10,704 posts

Posted by stncws > 2015-01-23 10:43 | Report Abuse

READY MONTH END...!!! KEEP AN EYE!

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-24 10:28 | Report Abuse

i hope shark is pressing the price down n holding for rest to throw (like Jiankun right now) n boom for cny. they really hv the money to hold.

Posted by nissansuny1234 > 2015-01-24 12:42 | Report Abuse

do you already sell all?

aliimam

471 posts

Posted by aliimam > 2015-01-24 19:11 | Report Abuse

noob. i am keeping it . i am really bullish . for two days cant able to get at 0.095

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-25 06:50 | Report Abuse

always tough to get 0.095 unless got mkt correction

eltonooi

40 posts

Posted by eltonooi > 2015-01-25 18:33 | Report Abuse

Is it a good time to start collect? Any good new to push up?

eltonooi

40 posts

Posted by eltonooi > 2015-01-25 18:35 | Report Abuse

Buy warrant or mother share better?

Jason Lim

267 posts

Posted by Jason Lim > 2015-01-26 10:59 | Report Abuse

news is all out already. just hv to wait n see how they business talk or play.

aliimam

471 posts

Posted by aliimam > 2015-01-26 20:43 | Report Abuse

@jason. which news out

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