Not sure about the possibility of price hike due to following: - property division will experience lower profit as mostly recognised in Zetapark already. The other new projects will not be as profitable and at early stage.
- Pipe business is a new venture and high capital commitment. No confirmed business as yet. Going forward, property developement has slowed in Malaysia due to the cooling measures by govt.
- renewable energy has not been contributing positively since day one. Doubt it will show strong profit in the very near term.
Based on the above, what basis to accord higher valuation for this counter. I do need some convincing before putting in my money. There are still a lot of better counters out there.
any news yet? they submitted to bursa, already but price still hovering around 1.16-1.17, despite the fact that its giving 2 bonus to five shares and warrants also
you can refer stock Menang, raised steadily upon bonus issue from April to July. It was approved 1 month after submission. Maybe end of September will get approved by Bursa, but it is case-to-case basis.
looks like it's going to sleep mode again for this counter. this QR will be not good but good for long term holding. investors like can go for long holiday without worrying for now :)
We refer to the earlier announcements on 21 July 2014 and 12 August 2014 in relation to the Proposals.
For consistency purposes, all definitions used in this announcement shall have the same meanings as those provided in the Company’s announcement dated 21 July 2014 in relation to the Proposals.
On behalf of the Board of Directors of FITTERS, Hong Leong Investment Bank Berhad (“HLIB”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 21 August 2014, approved the following:
(a) admission to the Official List and listing and quotation of up to 137,217,604 Warrants to be issued pursuant to the Proposed Free Warrants Issue;
(b) listing of up to 137,217,604 new FITTERS Shares to be issued pursuant to the exercise of the Warrants;
(c) listing of up to 43,660,100 new FITTERS Shares to be issued pursuant to the Proposed Private Placement; and
(d) listing of up to 137,217,604 new FITTERS Shares to be issued pursuant to the Proposed Bonus Issue.
The approval granted by Bursa Securities for the Proposals are subject to, inter-alia, the following conditions:
(a) FITTERS and HLIB must fully comply with the relevant provisions under the Main Market Listing Requirements (“Listing Requirements”) pertaining to the implementation of the Proposals;
(b) FITTERS and HLIB to inform Bursa Securities upon the completion of the Proposals;
(c) FITTERS to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;
(d) FITTERS and HLIB are required to make the relevant announcements pursuant to Paragraph 6.35(2)(a)&(b) and 6.35(4) of the Listing Requirements for the Proposed Bonus Issue; and
(e) FITTERS is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of the Warrants as at the end of each quarter together with a detailed computation of listing fees payable for the Proposed Free Warrants Issue.
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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....
SK Lee
201 posts
Posted by SK Lee > 2014-08-17 19:56 | Report Abuse
Not sure about the possibility of price hike due to following:
- property division will experience lower profit as mostly recognised in Zetapark already. The other new projects will not be as profitable and at early stage.
- Pipe business is a new venture and high capital commitment. No confirmed business as yet. Going forward, property developement has slowed in Malaysia due to the cooling measures by govt.
- renewable energy has not been contributing positively since day one. Doubt it will show strong profit in the very near term.
Based on the above, what basis to accord higher valuation for this counter. I do need some convincing before putting in my money. There are still a lot of better counters out there.