macd line above signal, accelerator oscillator 1st green bar-hopefully continue for 2nd & 3rd), K% still above but hopefully can cross below D%... the last candle is hammer.. -i wait patiently for my fruitful tree :)
TSH Resources Bhd's earnings jumped 98.7% to RM153.1mil in the financial year ended Dec 31, 2013 from RM77.03mil in FY12 and proposed a dividend of 3.5 sen a share.
PROPOSED DISPOSAL OF 2,000,000 ORDINARY SHARES OF USD1.00 EACH IN THE CAPITAL OF FLOATECH (L) LTD ("FLOATECH"), REPRESENTING 20% EQUITY INTEREST, BY TH HEAVY FOR A TOTAL CASH CONSIDERATION OF USD13.126 MILLION
The Sale Consideration of USD13.126 million comprised as follows: USD’000
1. Sale of 20% equity in Floatech - USD *6,398 (*actual/net cash proceeds to TH Heavy from the USD 13.126m deal) 2. Sale of Debt-Subordinated Shareholders advances - 6,728 (retiring Floatech's debt to the Bank of USD 33,643m *20% = 6,728)
NOTE: Floatech has existing banking facilities with its financier(s) of USD 33,643m and it is a loan facility condition that it should be proptioionally (20%) settled first before TH Heavy(shareholder) is paid - 'Debt-Subordinated Shareholders advances'
4. Gain on disposal = RM 6,398m - RM 2,000m = Rm 4,398m. Booked and this will increase the EPS of the company
5. Benefits of the deal – (i) Much needed WC requirements - projects being acquired/tendered for (ii) Divesting its stake in Floatech - for niche technical/management expertise. This is a much sought-after and so vital for a myriad of projects the company has successfully tendered . Awaiting announcement. Some listed O&G cos fumble because of a lack of this. Proactive measures taken by THh to mitigate - management/operational risks
butter_will_fly: Bank has to be paid first before the Sharholders' Advances are paid. In this case TH Heavy. This is 'debt- subordination' and is in Floatech's Letter of Offer for their bank facilities of USD 33,643m obtained. That is why they proptionately deduct USD 33,643m *20% = USD 6,728m; from the deal of USD13.126, before TH gets the balance in hand of USD 6,398m. 20% is the divested equity stake. NOTE: Correction- My above thread, all figures should be in USD and NOT RM
psd57 - Sure no problem. Waiting for chartnexus to release new update on today's data first. But without looking at chart, I would say: it needs a catalyst!
butter_will_fly : The momentum closing, hopefully would be sustained tomorrow. catalysts: all the news announced thus far. r more on the way? I will study this co. tomorrow, also the financials to come. Tan Sri's indirect presence (brand equity) thru his son is already a plus factor here.
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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....
Posted by hepitrade > 2014-01-02 18:04 | Report Abuse
What say you, bro & sis ?