Posted by Victor Yong > 2020-12-07 08:49 | Report Abuse

BNM adopts balanced approach over admission of digital banks
Bernama
/
Bernama

September 10, 2020 14:34 pm +08


-A+A
KUALA LUMPUR (Sept 10): Bank Negara Malaysia (BNM) has adopted a balanced approach to enable the admission of digital banks with strong value propositions and the ability to preserve the integrity and stability of the financial system, said Deputy Finance Minister II Mohd Shahar Abdullah.

“Through this approach, BNM sets the cumulative asset threshold that can be generated by digital banks of not more than RM2 billion in the initial three to five years of operations.

“The foundational phase aims for digital banks to demonstrate their viability and sound operations, while BNM monitors their performance and any attendant risks," he told the Dewan Negara today.

Mohd Shahar was responding to a question from Senator Datuk Teo Eng Tee @ Teo Kok Chee (Gerakan), who wanted to know about BNM's proposal to issue digital bank licences for conventional and Islamic banking business and how they will be regulated by the Ministry of Finance (MoF).

The negotiation period for the Exposure Draft on Licensing Framework for Digital Banks ended on June 30, 2020, he said, adding that BNM received almost 50 responses and is currently reviewing the feedback before finalising the digital bank licensing policy document and opening applications for the licence.

He said digital banks will be required to comply with the requirements under the Financial Services Act 2013 or Islamic Financial Services Act 2013, including relevant requirements such as standards on prudential, business conduct and consumer protection, as well as on anti-money laundering and terrorism financing.

"During the foundational phase, licensed digital banks will be subjected to a more simplified regulatory requirement relating to capital adequacy, liquidity, stress testing and public disclosure.

"This is in line with the objective to encourage growth and innovation by digital banks, especially to increase financial access to segments that are lacking or do not have financial services," he said.

Posted by Victor Yong > 2020-12-07 08:51 | Report Abuse

AFTER a lull in the last few months, interest in Malaysia’s digital banking licences is picking up again, even as a number of new digital banks in the region have just been launched or are about to go live.

“Things are picking up as we go into the Recovery Movement Control Order period. What we find is that there are more people coming on board to say that, because of the delay in [the feedback to Bank Negara Malaysia] guidelines, they have more time to look for partners [to jointly apply for a licence]. And what that means is that it’s like a second wind for some of these players who were not [seen as] the frontline competitors for the licences. So, I think they are taking the opportunity to talk to more partners,” says Kelvin Lee, financial services assurance partner at PwC Malaysia.

Two months ago, Bank Negara announced on its website that given the disruptions caused by the Covid-19 outbreak, it was extending the April 30 deadline for the industry to provide feedback on its proposed digital banking licensing framework to June 30. The central bank had initially expected to finalise its policy document by the first half of this year, after which it was to open applications for the licences.

Posted by Victor Yong > 2020-12-07 08:51 | Report Abuse

We understand that, most likely, the [Bank Negara] guidelines will be finalised by the end of this year, after which the central bank will open the application process early next year,” says Lee.

Bank Negara plans to issue up to five digital bank licences.

Posted by Victor Yong > 2020-12-07 08:54 | Report Abuse

The Wyckoff method is a five-step method of market analysis for decision making. Determine the present position and probable future trend of the market. Then decide how you are going to play the game. Use bar charts and point-and-figure charts of market index. Select stocks in harmony with the trend.

Posted by Victor Yong > 2020-12-07 08:54 | Report Abuse

What is Wyckoff trading?
Wyckoff developed a price action market theory which is still a leading principle in today's trading practice. The Wyckoff method states that the price cycle of a traded instrument consists of 4 stages – Accumulation, Markup, Distribution, and Mark Down.

Posted by Victor Yong > 2020-12-07 08:55 | Report Abuse

How do you tell if a stock is being accumulated?
The Accumulation/Distribution Indicator (A/D)

Accumulation/distribution (A/D) is a cumulative indicator that uses volume and price to assess whether a stock is being accumulated or distributed. The accumulation/distribution measure seeks to identify divergences between the stock price and volume

Posted by Victor Yong > 2020-12-07 09:00 | Report Abuse

Chapter six of Bursa Malaysia’s Main Market and ACE Market listing requirements (LR) covers issues related to issuance of new securities involving placements of shares, rights issues, bonus issues, share issuance schemes, dividend reinvestment, issuances of debt securities, redeemable preference shares and convertible securities and other forms of securities that are being issued by a listed company.

One of the popular ways to raise funds for a listed issuer is via private placement of shares. Of course, to do so, the listed issuer would have to first obtain the mandate of its shareholders as required under Section 75 and Section 76 of the Companies Act, 2016.

In addition, the LR also spell out the manner in which the shares will be priced, which is at not more than a 10% discount to the weighted average market price of the shares for the five market days immediately before the price-fixing date.

Posted by Victor Yong > 2020-12-07 09:00 | Report Abuse

Also, shares that are placed out must meet certain criteria, which is defined under Schedule Six or Seven of the Capital Markets and Services Act, 2007.

Bursa’s LR also state that the new shares issued are NOT to be placed to an interested director, interested major shareholder, interested chief executive or interested person connected with a director, major shareholder or chief executive, and nominee corporations, unless the names of the ultimate beneficiaries are disclosed.

In addition, details of placements that are made to these placees must be made to Bursa by the company’s principal advisor (PA) detailing out names, home or business addresses, identity card/passport/company registration numbers, occupations/principal activities and securities account numbers of all the placees and the ultimate beneficial owners of the securities placed and the amount and price of securities placed to each placees.

The PA is also required to confirm in writing that information provided to Bursa Malaysia is accurate and in accordance with Chapter Six of the LR.

Of course, corporates undertaking private placements will need to detail out the rationale for their fund-raising purpose as well as utilisation of proceeds from the exercise to be carried out, the effect of the private placement on issued share capital, changes in major shareholders’ holdings, impact on net assets and gearing as well as earnings and earnings per share.

How many shares can a listed issuer placed out? Due to Covid-19 and to help companies to tide over during this difficult period, Bursa Malaysia had announced on April 16 this year that under the “Additional Temporary Relief Measures To Listed Issuers (ATRM), ” a listed issuer can now increase the general mandate threshold for new issue of securities from the existing 10% to not more than 20% of the total number of issued shares (excluding treasury shares) subject to compliance with applicable legal requirements and its constitution.

In addition, a disclosure of its board of directors’ views that the 20% issuance is in the best interest of the listed issuer and its shareholders must also be made.

The 20% mandate must be approved by shareholders in a general meeting and may be utilised by the listed issuer to issue new securities until Dec 31 2021. The 10% limit under the LR will be reinstated after the end of next year.

Hence, listed issuers have a small window of opportunity to raise funds quickly and within the guidelines provided by the authorities for a period of about 20 months.

This has led to a flood of applications among listed issuers and over the past one month alone, we saw the following companies making their first announcements, targeting to raise as much as RM1.08bil from the issuance of more than 3.3bil shares to investors.

Posted by Victor Yong > 2020-12-07 09:03 | Report Abuse

Probably share price for all companies must be Above 10sen, if below 10sen, force to consolidate shares, wait n see :)

regulators should look into potentially introducing a Minimum Trading Price (MTP) rule whereby rules are put in place for companies to regulate the shortcomings if their share prices fall below a certain threshold and given a certain time frame to do so. Other than a share consolidation exercise, which can easily reduce the number of shares outstanding with a correspondent adjustment to the share price, companies should be focusing on improving the fundamental values of their shares in order for the market to correctly price these companies.

Posted by halooo > 2020-12-07 09:05 | Report Abuse

Morning scammer

Posted by Victor Yong > 2020-12-07 09:09 | Report Abuse

@DR RR

Still accumulation..just hold until it makes mark up..xox speculatif stock..follow wyckoff

Source: klscreeener

Posted by Victor Yong > 2020-12-07 09:15 | Report Abuse

Egm bagi xmas gift dec 10 yakni bonus warrant c



Transfer of wealth from tak caya KPD yang percaya kut? :(

Posted by Victor Yong > 2020-12-07 09:16 | Report Abuse

Good news besides 8 free 3 warrants otw

Posted by Victor Yong > 2020-12-07 09:19 | Report Abuse

NXoO. 20X100B10H16D682 (900384-X)] [Registration No. 201001016682 (900384-X)]
[Registrat(ioIncXoNXroOpO.o2rXa0Xt1e0dB0Bi1nH0HM16DaD6la8y2si(a9)00384-X)] (Incorporated in Malaysia)
(Incorporated in Malaysia) [R[ReeggisistrtaratitoionnNNoo. .2200110001100116668822(9(9000338844-X-X)])]
(I(nInccoorprpoorarateteddininMMaalalayyssiaia) )
CIRCULAR TO SHAREHOLDERS IN RELATION TO:-
CIRCULAR TO SHAREHOLDERS IN RELATION TO:-
CIRCULAR TO SHAREHOLDERS IN RELATION TO:- CIRIRCULLARTTOSSHAREEHOLLDEERSSININREELLATTIOIONTTO:-:-
PROPOSED BONUS ISSUE OF FREE WARRANTS IN XOX (“WARRANTS C”) ON THE BASIS OF 3
PROPOSED BONUS ISSUE OF FREE WARRANTS IN XOX (“WARRANTS C”) ON THE BASIS OF 3
PROPOSED BONUS ISSUE OF FREE WARRANTS IN XOX (“WARRANTS C”) ON THE BASIS OF 3 WARRANTS C FOR EVERY 8 EXISTING ORDINARY SHARES IN XOX HELD ON AN ENTITLEMENT DATE
WARRANTS C FOR EVERY 8 EXISTING ORDINARY SHARES IN XOX HELD ON AN ENTITLEMENT DATE
PPWRAORPPROASSNEETDSBCBOFNOURSSEIVSISESSRUYEE8OEFFXIFSFRTREIENEEGWOARARDRRIRNANRTTYSSSINHINAXRXOEOXSX I(N“(“WXAOARXRRHRAEANLNTDTSSOCNC””A))NOENTHIHTEELEBMAESSNISITS ODOFAFT3E3 TO BE DETERMINED AND ANNOUNCED LATER (“PROPOSED BONUS ISSUE OF WARRANTS”)
TO BE DETERMINED AND ANNOUNCED LATER (“PROPOSED BONUS ISSUE OF WARRANTS”)
WTAOARBREADNETTSSECRCFMFOIONREEDEVVAEENRDYY8A8NEENXXIOSISUTTNININCGEODORLRDADITNINEARY(Y“PSSRHOARPROEESEINIDNXBXOXNXHUHESELLIDSDSOUNEAONFEEWNATTIRTITRLLAEEMNMTEESN”T)TDATTEE TTOBEEDEETTEERMININEEDANDANNOUNCEEDLLATTEER(“(“PPROPPOSSEEDBONUSSISISSUEEOFFWARRANTTSS””))
AND
AND
AND AND
NOTICE OF EXTRAORDINARY GENERAL MEETING
NOTICE OF EXTRAORDINARY GENERAL MEETING
NOTICE OF EXTRAORDINARY GENERAL MEETING NOTTICICEEOFFEEXXTTRAORDININARYYGEENEERALLMEEETTINING
Principal Adviser
Principal Adviser
Principal Adviser PPrrininccipipaallAddvvisiseerr
MERCURY SECURITIES SDN BHD
MERCURY SECURITIES SDN BHD
ME[ReCgisUtraRtioYn NSoE. 1C98U40R10I0T0I6E72S(1S13D19N3-WB)]HD
[Registration No. 198401000672 (113193-W)]
MERCURYSECURITITIEIESSDNBHD
(A Particip[aRtiengisOtragtaionnisNatoio. n19o8f 4B0u1rs0a00M6a7l2ay(1s1ia3S19e3c-uWrit)ie] s Berhad)
(A Participating Organisation of Bursa Malaysia Securities Berhad)
(A Participating Organisation of Bursa Malaysia Securities Berhad) [R[ReeggisistrtaratitoionnNNoo. .1199884400110000667722(1(1133119933-W-W)])]
(A(APPaartritcicipipaatitninggOOrgrgaannisisaatitoionnoof fBBuursrsaaMMaalalayyssiaiaSSeeccuurirtiteiessBBeerhrhaadd) )
The Extraordinary General Meeting of the Company (“EGM”) will be held on a fully virtual basis and entirely

Posted by Victor Yong > 2020-12-07 09:21 | Report Abuse

Making Money The Wyckoff Way (CSC, DNR)
FACEBOOK
TWITTER
LINKEDIN
By ALAN FARLEY
Updated Aug 17, 2020
Legendary technician Richard Wyckoff wrote about financial markets at the same time as did Charles Dow, Jesse Livermore, and other iconic figures in the early decades of the 20th century. His pioneering approach to technical analysis has survived into the modern era, guiding traders and investors on the best ways to pick winning stocks, the most advantageous times to buy them, and the most effective risk management techniques.

Posted by Victor Yong > 2020-12-07 09:21 | Report Abuse

His observations on price action coalesced into the Wyckoff Market Cycle that outlines key elements in trend development, marked by periods of accumulation and distribution. Four distinct phases comprise the cycle: accumulation, markup, distribution, and markdown. He also outlined sets of rules to use in conjunction with the phases, to further identify the location of price within the broad spectrum of uptrends, downtrends, and sideways markets.

Wyckoff Rules
Wyckoff’s first rule tells traders and investors that the market and individual securities never behave in the same way twice. Rather, trends unfold through a broad array of similar price patterns that show infinite variations in size, detail, and extension, with each incarnation changing just enough from prior versions to surprise and confuse market participants. Many modern traders would call this a shapeshifting phenomenon that always stays one step ahead of profit-seeking.

Posted by Victor Yong > 2020-12-07 09:23 | Report Abuse

The second rule raises the misunderstood issue of market relativity, telling traders and investors that context is everything in the financial markets. In other words, the only way to evaluate today’s price action is to compare it to what happened yesterday, last week, last month, and last year. A corollary to this rule states that analyzing a single day’s price action in a vacuum will elicit incorrect conclusions.

Wyckoff established simple but powerful observational rules for trend recognition. He determined there were just three types of trends: up, down and flat, and three-time frames, short-term, intermediate term, and long term. He observed that trends varied significantly in different time frames, setting the stage for future technicians to create powerful trading strategies based on their interplay. Alexander Elder’s Triple Screen method, outlined in Trading for a Living, offers an excellent example of this follow-up work.

Posted by Victor Yong > 2020-12-07 09:24 | Report Abuse

The new cycle begins with an accumulation phase that generates a trading range. The pattern often yields a failure point or spring that marks a selling climax, ahead of a strong trend that eventually exits the opposite side of the range. The last decline matches algo-driven stop hunting often observed near downtrend lows, where price undercuts key support and triggers a sell-off, followed by a recovery wave that lifts price back above support.

The markup phase then follows, measured by the slope of the new uptrend. Pullbacks to new support offer buying opportunities that Wyckoff calls throwbacks, similar to buy-the-dip patterns popular in modern markets. Re-accumulation phases interrupt markup with small consolidation patterns, while he calls steeper pullbacks corrections. Markup and accumulation continue until these corrective phases fail to generate new highs.

Posted by Amazing > 2020-12-07 09:29 | Report Abuse

time to Sapu

Posted by halooo > 2020-12-07 09:34 | Report Abuse

Sapu la. You sapu they top up the que. Kah kah kah

Posted by Victor Yong > 2020-12-07 09:36 | Report Abuse

XOX BHD
(Company Registration No.: 201001016682 (900384-X) (Incorporated in Malaysia under the Companies Act, 1965)
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FORTH QUARTER ENDED 30 SEPTEMBER 2020
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW (CONT’D)
Description
Cumulative Quarter Ended
30 September 2020 RM’000
Preceding Year Corresponding Quarter Ended
30 September 2019 RM’000
Balance B/F
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of plant and equipment
Acquisition of intangible assets
Acquisition of other investments
Proceeds from disposal of plant and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment oflease liability
1,409 N/A
(4,736) N/A (14,179) N/A (5,159) N/A 312 N/A
(23,762) - (3,927) N/A
Proceeds from issuance of shares
199,602
N/A
Net cash generated from financing activities
NET INCREASED IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT
THE BEGINNING OF THE FINANCIAL PERIOD
CASH AND CASH EQUIVALENTS AT
195,675 - 173,322 -
8,953 N/A
THE END OF THE FINANCIAL PERIOD
182,275
N/A
Notes: -
(i) The Unaudited Condensed Consolidated Statements of Cash Flow should be read in conjunction with the Audited Financial
Statements for the financial period ended 30 September 2019 and the accompanying explanatory notes attached to this interim financial statements.
(ii) In view of change in financial year end in previous year, the comparative figures stated in the income statement, statement of changes in equity, cash flow statement and the related notes are not comparable
(The Unaudited Condensed Consolidated Statements of Cash Flow should be read in conjunction with the Notes to the Quarterly Report on pages 10 to 18).

Posted by Victor Yong > 2020-12-07 09:42 | Report Abuse

Egm this Thursday :) bonus warrant percuma

Posted by Victor Yong > 2020-12-07 09:44 | Report Abuse

Utilisation of Proceeds
Utilisation of proceeds from various corporate exercises as at 30 September 2020:- ICPS (Completed on 12 March 2020)
Details
(a) E-Sim expansion plan
(b) Expansion of XOX’s E-Wallet function
(c) Expenses incurred for the Rights Issue
Actual Utilisation
Total 26,525,688 Private Placement (Completed on 23 July 2020)
8,928,998 7,426,005 1,000,000
17,355,003
Actual Utilisation RM 2,338,838
600,000
2,938,838
6,071,002 3,099,683 -
9,170,685
Balance Available for Utilisation RM 16,724,302
-
16,724,302

Posted by Victor Yong > 2020-12-07 09:45 | Report Abuse

Corporate proposals and utilisation of proceeds
Save as disclosed below, there were no other corporate proposals which had been announced by the Company and are pending for completion as at end of the reporting quarter except:-
(“XOX Media”), a wholly owned subsidiary of the Company,
C. On 8 August 2019, XOX Mobile entered into a MOU with TOT Public Company Limited (“TOT”) for the purpose to establish the mobile virtual network operator (“MVNO”) partnership, cooperation and support between both parties in relation to exploring MVNO market in Thailand, connecting in technicality and testing the mobile telecommunication systems as well as other commercial operations. To date, both parties are working on the project.
D. On 9 October 2020, XOX Media, a wholly owned subsidiary of the Company,
E. On 19 October, the Company announced that Bursa Securities had granted its approval for the Proposed Bonus Issues with Warrants as follows:-
(i) Admission to the Official List and listing and quotation of 1,336,281,385 Warrants C; and
(ii) Listing and quotation of up to 1,336,281,385 new shares to be issued arising from the exercise of the
additional Warrants C.
On 19 November 2020, the Company further announced that the Company obtained approval from Bursa Securities on the followings:-
(iii) Admission to the Official List and listing and quotation of additional 230,569,125 Warrants C to be issued pursuant to the Proposed Bonus Issue of Warrants; and
(iv) Listing and quotation of additional 230,569,125 new shares to be issued arising from the exercise of the additional Warrants C.

Posted by halooo > 2020-12-07 09:50 | Report Abuse

Free warrant. Hurmm no thanks...

Posted by halooo > 2020-12-07 09:54 | Report Abuse

Come on come on. Lets PP 'investor' get it cheap

Posted by halooo > 2020-12-07 10:07 | Report Abuse

Getting thicker than before. Kah kah kah

Posted by strattegist > 2020-12-07 10:14 |

Post removed.Why?

Posted by bri4n_Loo > 2020-12-07 10:15 | Report Abuse

hahaha....
link xox with ants again??
OMG!!!
i mean there is no GOD..
if there is any, KARMA already haunts your family down for spreading rumours...

Please bertaubat....
if u are trapped, just keep quiet and wait... dont spread rumours

Posted by bri4n_Loo > 2020-12-07 10:25 | Report Abuse

https://www.theedgemarkets.com/article/special-report-hidden-hands-behind-penny-stock-surge
the DOGS are out here SPREADING FAKE news to trap retailers.
BE CAREFUL..

Posted by Armanhashim > 2020-12-07 10:43 | Report Abuse

Brewing in? Something ? Getting closer ?

Posted by Johnson Wong > 2020-12-07 10:44 | Report Abuse

Wow, ants works

Posted by Victor Yong > 2020-12-07 10:44 | Report Abuse

130m shares ++ traded. 10.5sen dah cleared

Posted by Victor Yong > 2020-12-07 10:45 | Report Abuse

Clearing 11sen now :)

Posted by kalim288 > 2020-12-07 10:50 | Report Abuse

0.105 never ending

Posted by halooo > 2020-12-07 10:53 | Report Abuse

To the right to the right to the left to the left. Kah kah kah

Posted by halooo > 2020-12-07 10:58 | Report Abuse

Armanhashim Brewing in? Something ? Getting closer ?
07/12/2020 10:43 AM

Relax Mr. Good News long way to get you up there

Posted by Victor Yong > 2020-12-07 11:06 | Report Abuse

Xox can invite its biz partner, ant group to become its new substantial shareholder by buying from the open market or take up the PP if any :)

Posted by Victor Yong > 2020-12-07 11:07 | Report Abuse

~200m shares traded so early ada udang disebalik batu :)

Posted by halooo > 2020-12-07 11:17 | Report Abuse

Unlimited supply kah kah kah

Posted by tkl88 > 2020-12-07 11:22 | Report Abuse

XOX lai liao lai liao...

Posted by tkl88 > 2020-12-07 11:25 | Report Abuse

GRAB 蚂蚁等 夺得新加坡数码执照
5-12-2020 15:43
https://www.sinchew.com.my/content/content_2388260.html

Posted by kalim288 > 2020-12-07 11:32 | Report Abuse

why want to sell so low price out ? not understand

Posted by Good123 > 2020-12-07 11:41 | Report Abuse

the trend continues :) Penny stocks have dominated the top active stocks in recent months.

Posted by Good123 > 2020-12-07 11:49 | Report Abuse

show to pls Shareholders sebelum EGM khamis ini kah?

Posted by Good123 > 2020-12-07 11:50 | Report Abuse

if bonus warrant C approved this khamis, up few Sen at least kah?

Posted by Good123 > 2020-12-07 11:51 | Report Abuse

warrant c lebih bagus drp warrant B Kan?

Posted by Good123 > 2020-12-07 11:51 | Report Abuse

warrant B 8sen now

Posted by Good123 > 2020-12-07 11:52 | Report Abuse

warrant B 8sen 6sen exercise price dapat 1 syer xox = 14sen

Posted by tkl88 > 2020-12-07 11:52 | Report Abuse

Like this trend, XOX today at least will ranked no 2 in the most active listing already !
Maybe also can ranked number one today !

Keep it up XOX !
Huat ah ! Heng ah ! Ong ah !