FINTEC GLOBAL BERHAD

KLSE (MYR): FINTEC (0150)

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Last Price

0.01

Today's Change

0.00 (0.00%)

Day's Change

0.01 - 0.015

Trading Volume

31,473,000

Financial

Financial Year 2020


Financial Year Annual Audited Account Annual Report View
Ann. Date Ann. Date
Discussions
16 people like this. Showing 50 of 27,391 comments

Good123

Seek help from pihak berkuasa Singapore to catch the culprits like Soh chee wen , etc.

Kita punya pihak berkuasa mungkin tak cekap lagi macam Singapore

2 weeks ago

BLee

@Good123: the resignation of 2nd tier international accounting firms as external auditor among their related companies are a good indicator that things are not well, etc..

BLee:Just Google, and details can be found:-
Link: https://www.theedgemarkets.com/article/audit-firm-afrizan-tarmili-khai...

https://www.nst.com.my/business/2021/12/753248/court-appeal-upholds-sc...

"The court document, which referred to the Bursa-listed companies including Supermax Corp Bhd, Seacera Group Bhd, Mentiga Corp Bhd and Alam Maritim Resources Bhd as public interest entities (PIEs), claimed that the SC’s suspension resulted in AFTAAS being prohibited for 12 months in 2019 from auditing the PIEs' financial statements."

"KUALA LUMPUR: The Court of Appeal today ruled in favour of the Securities Commission Malaysia (SC) and set aside a High Court decision on August 10, 2020, to quash the SC's Audit Oversight Board's (AOB) enforcement actions against Afrizan Tarmili Khairul Azhar (AFTAAS) and its partners."

It seems NOT only Fintec (Correction: AGES Auditor AFTAAS resigned, share price still up proved that changing Auditor NOT necessarily a red flag) needs to change the same Auditor…??

2 weeks ago

Good123

Many innocent investors lost a lot in such scam... A gang colluding to cheat minority shareholders.... using quoted investment below 5% no disclosure needed, putting the same people makan gaji buta in related companies, subsidiaries companies of related companies, same people sitting as independent directors patung/boneka in related party listed companies, etc... need IRB, BNM, SC, Bursa to work together to defeat and reveal everything.... probably politicians are involved too... very likely a bigger scandal than soh chee wen's case in spore caught recently by the clean spore authorities

2 weeks ago

Musang King

Well said and researched, BLee and good123. Both postings above are very very important and supreme alarming to know and take serious note of. I concur with good123 for his arguments and I applaud BLee for helping to search why auditors for AGES resigned. Thank you both.

2 weeks ago

Musang King

MTRONIC & AGES mother shares are both doing very well today. Hope it also happens to Fintec later. Today our FINTEC queue buy increased to 682.96 millions with 1.494 orders. Selling queue is just 27.03 millions with 130 orders as at closing. There is sudden interest coming in to Fintec compared with yesterday buying queue for 646 millions with 1,420 orders.

2 weeks ago

Good123

Malaysian authorities should seek help from Singapore if tak berupaya :)

KUALA LUMPUR, May 5 — Malaysian John Soh Chee Wen and co-conspirator Quah Su-Ling have been convicted of 180 and 169 charges, respectively, for their role in the 2013 penny stock crash in Singapore.

According to The Edge Singapore, former MCA star Soh and Quah were found guilty on criminal conspiracy charges ranging from forced trading and price manipulation to deception.

2 weeks ago

Good123

SC to show how Ricky Wong siphoned over RM50m from Bright Packaging Industry via rights issue, private placement, ESOS
Ahmad Naqib Idris
/
theedgemarkets.com

April 05, 2021 14:24 pm +08

2 weeks ago

Musang King

How did he siphoned the money out? Anybody knows? What is the outcome of this court case?

2 weeks ago

Musang King

I think the above case is very straight forward. Defendants Ricky Wong, his mother Teh Sew Wan and Wong SK Holdings Sdn Bhd contravened the Capital Markets and Services Act 2007 were investors buying up BPI shares and became a major shareholder holding more than 30% until now. He could have used Chairman Syed Ali and some staffs name to buy BPI shares at 60 to 62 sen a share. He made a good handsome gain of RM56 Mil at that time. He faced the music when somebody compaint to SC and he was sued. Today BPI share is trading at 17.5 sen a share but he is still holding 32.94% shares bought mostly above 60 sen each those days. He did not run away and he is still holding 32.94 interest in the Group. Just a case of using other people names, he landed himself in court. I think. What do you think Good123? Any link to Fintec? Nothing, isn't it except we should be alarmed if a PLC keeps issuing RI, PP, SIS and ESOS using other people names to buy and sell as in the case of Bright Packaging Industry Bhd mentioned above. Right? Good123. Thanks for your posting too. Good for Educational Purpose for all of us here.

2 weeks ago

Good123

Cepat tangkap pihak yang terbabit:)

23 Jul 2014 — ... to have created false market in trading of DVM Technology shares. ... Commission (SC) has filed legal action against Kenneth Vun ( pic) ...
https://www.pressreader.com › the-e...
Brokers in Soh's inner circle paranoid of communicating openly after crash
21 Jun 2021 — ... the alleged mastermind of the share manipulation scheme during his ... in a forex lead that had been brought by Peter Chen Hing Woon.

Penny stock crash mastermind Soh maintains he didn't give trading ...
Touching specifically on a buy order for 10 million Blumont shares – Soh pointed out that Ken Tai, a broker who was supposedly

1 week ago

pineapple123

Good123, if you are free, by all means, go and submit your writ of demand to Fintec.

1 week ago

pineapple123

Musang King, you must be fearful every night looking at so many people really think Fintec is a con company.

1 week ago

M55555

Joe come to rescue.. 2x5 same same.

1 week ago

Goodprofit

Type Announcement
Subject OTHERS
Description FINTEC GLOBAL BERHAD ["FINTEC" or "the Company"]
- SALE AND PURCHASE AGREEMENT ENTERED INTO BETWEEN FINTEC GLOVE SDN. BHD. ("FINTEC GLOVE"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, AND JOE GLOVE SDN. BHD. ("JOE GLOVE")
Pursuant to Rule 9.03 of ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of FINTEC wishes to announce that Fintec Glove, a wholly-owned subsidiary of the Company, had on 3 August 2022, entered into a Sale and Purchase Agreement with Joe Glove for the sale of two (2) NBR/NR Powder Free Double Former Dipping Lines (“Machineries”) to Joe Glove at a total contract price of RM14,470,000.00 ("Proposed Sale"). The Machineries are located in the gloves manufacturing factory developed on the vacant land held under Pajakan Negeri 210005, Lot 304994, Mukim Hulu Kinta, Daerah Kinta, Negeri Perak, measuring approximately 18,746 square metres.



Please refer to the attachment for more details on the Proposed Sale.



This announcement is dated 3 August 2022.

1 week ago

Goodprofit

wow sales on machine tak mau buat gloves ?

1 week ago

BLee

@Goodprofit: wow sales on machine tak mau buat gloves ?

BLee: Hi Bro @Goodprofit, most probably sell and lease back/collaboration??

The part details of sale as below:

"4. RATIONALE FOR THE PROPOSED SALE
Joe Glove is a wholly-owned subsidiary of Joe Holding. The strategic collaboration through the
Proposed Sale would enable Fintec Glove to leverage on Joe Holding Group’s connection and
networking in domestic and international market for sourcing and engagement of new customers.
In addition, the Proposed Sale would result in cost savings on the gloves production by Fintec
Glove due to the sharing of resources with Joe Glove on the management of the following:
i) Maintenance and Facility
ii) Environmental, Safety and Health
iii) Quality Assurance and Quality Control
iv) Research and Development and Laboratory
v) Materials and Planning
vi) Warehousing, Packaging and Logistics. Hence, the fixed and variable production costs would be reduced simultaneously. The estimated total cost for a piece of glove is expected to be reduced by 3.5%."

Always please go through the whole announcement before making any conclusion.
Happy Trading and TradeAtYourOwnRisk

1 week ago

Goodprofit

@ Blee please understand this situation right now. lease or collaboration still the same just on sell , for example Aspen Gloves also on sales

1 week ago

BLee

@Goodprofit: @ Blee please understand this situation right now. lease or collaboration still the same just on sell , for example Aspen Gloves also on sales

BLee: How can it be the same, with RM14,470,000.00 monetized from the 'bad' investment. The 'bad' investment now could turn into a 'good' investment with this collaboration?? Hope for the best as investment is 'calculated' on hope.
Happy Trading and TradeAtYourOwnRisk

1 week ago

Musang King

I understand there are so many bad comments because most people who commented are very angry with Fintec for issuing so many PP, SIS and ESOS that pulled down the Fintec market price, after they all bought shares when the prices were much much higher. If we take a look at Borneo Oil, they also did a lot of PP and ESOS that brought down their market share prices down to 2.0 sen while their business is very healthy and profitable. Despite their directors keep buying their own shares and have initiated buying back their own shares in the open market, Borneo Oil still drops continueously non stop.

1 week ago

Musang King

Pineapple123 : Musang King, you must be fearful every night looking at so many people really think Fintec is a con company.

Musang King : Not fearful at all cos I have averaged up Fintec shares quite a lot now that the price is at the lowest. Buy more now so that our Fintec average cost of holding will be as low as possible. Fintec is still solid with their money mostly invested for future capital gain. Very important. They are not as risky as those dealing in manufacturing, servicing, construction or adventures that need a lot of manpower. As you see in their latest move, Fintec is disposing 2 of their glove manufacturing lines to Joe Glove Sdn Bhd (100% subsidiary of Joe Holding Berhad} for RM14.47 millions. Good move indeed as Joe Holding Berhad is active in Manufacturing while Fintec is active in Investments only. Furthermore, JOE is very cash rich and investing in taking over Fintec Glove Manufacturing is timely for future manufacturing operations.

1 week ago

Good123

Shitty arrangement.... Corporate governance hoophole :)

Joe Holding to buy two pieces of machinery worth RM14.47m from Fintec Global | https://www.klsescreener.com/v2/news/view/1026979

ILB seeks legal advice following minority shareholder's lawsuit | https://www.klsescreener.com/v2/news/view/1027163

1 week ago

pineapple123

Musang King

Pineapple123 : Musang King, you must be fearful every night looking at so many people really think Fintec is a con company.

Musang King : Not fearful at all cos I have averaged up Fintec shares quite a lot now that the price is at the lowest. Buy more now so that our Fintec average cost of holding will be as low as possible. Fintec is still solid with their money mostly invested for future capital gain. Very important. They are not as risky as those dealing in manufacturing, servicing, construction or adventures that need a lot of manpower. As you see in their latest move, Fintec is disposing 2 of their glove manufacturing lines to Joe Glove Sdn Bhd (100% subsidiary of Joe Holding Berhad} for RM14.47 millions. Good move indeed as Joe Holding Berhad is active in Manufacturing while Fintec is active in Investments only. Furthermore, JOE is very cash rich and investing in taking over Fintec Glove Manufacturing is timely for future manufacturing operations.

2 days ago

The rationale of Fintec disposing the 2 machine for gloves are at profit???

The reason why Fintec disposed 2 machinery is due to lack of funds, or they are disposing because gloves are no longer as profitable as during 2020?

6 days ago

pineapple123

what is the investing cashflow and free cashflow of fintec is now?

6 days ago

pineapple123

Musang King, you sounded like u keep averaging down the price of fintec because of the intention to get rid of this company ASAP when you achieved 1c profit? haha

6 days ago

pineapple123

Musang King, u sure you are investing in this company Fintec when they have not come out to ratify their company rumors lingering that they are con company?

6 days ago

Good123

Greenmail: A Study of Board Performance in Corporate Governance Rita D. Kosnik Texas A&M University C 1987 by Cornell University. 0001-8392/87/3202-01 63/$1 .00. The author thanks David Larcker for his assistance and support in designing this study, and the following people for their constructive comments on earlier versions of this manuscript: Barry Baysinger, Robert Dewar, Robert Duncan, Gareth Jones, and the associate editor and anon- ymous reviewers of ASQ. Based on predictions from agency theory and a theory of managerial hegemony, this study compares the board structure of 53 companies that privately repurchased stock at a premium above the market place-i.e., paid greenmail-and 57 companies that resisted greenmail. The decision to pay greenmail is used as a proxy for the board's ineffectiveness, which is defined as the inability of the board's outside directors to prevent management from making decisions-such as paying greenmail-that are in conflict with stockholders' interests. Boards that ef- fectively resisted greenmail were found to have more outside directors, more directors with executive experi- ence, and more directors who represented interorganiza- tional transactions than boards of companies that paid greenmail.'

6 days ago

Good123

NORZIATON, I. K.; DEVI, S. Susela; MENG, Chan Wai (2017). Politically Connected, Internal Governance Mechanisms and Audit Fees in Malaysia. Asian Journal of Accounting Perspectives, [S.l.], p. 36-51, dec. 2017. ISSN 0128-0384. Available at: . Date accessed: 30 mar. 2018.

5 days ago

Musang King

pineapple123 : Musang King, you sounded like u keep averaging down the price of fintec because of the intention to get rid of this company ASAP when you achieved 1c profit? haha

Musang King : I keep for long term lah. Why sell when Fintec goes up one sen.? If 5 sen , maybe I consider selling some. Honestly, if I buy Fintec and keep now, if I don't make it rich in the future, I better not play buy stock anymore. Honestly. Buying now at 1 sen, where on earth can you find such a cheap and discounted stock? Think.

5 days ago

Musang King

Company rumors lingering that they are con company are common everywhere. Even Genting stocks, Banking stocks and all good stocks I see kena left and right from people in the forum. Just let it be and do your research well, you will be safe.

5 days ago

pineapple123

FINTEC GLOBAL BERHAD ["FINTEC" or "the Company"]
- SALE AND PURCHASE AGREEMENT ENTERED INTO BETWEEN FINTEC GLOVE SDN. BHD. ("FINTEC GLOVE"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, AND JOE GLOVE SDN. BHD. ("JOE GLOVE")

Confirmed finally. Will bring any impact to FINTEC share price Answer is a big NO.

5 days ago

chesslim

记住,当别人恐惧时你要贪婪。

5 days ago

Musang King

No impact at all. It is just the beginning to divest a bit due to current circumstances. As a businessman myself, I understand their strategy. To me, its good sign for better concentration as an investment holding group rather than doing it on its own. Money collected from divestment can be put to better use. But use the money carefully, now that opportunities out there are aplenty. It is a win win situation for both Fintec and Joe. Joe Holding concentrates on manufacturing while Fintec is concentrating on investment in shares and equities. Easy isnt it? We must have our Right Understanding.

4 days ago

M55555

fintec punya investment company semua pun pennies... WHY WHY...
AT ( 0.01) , DGB (0.02), FocusD (0.02), Mlab (0.02),Netx(0.08), Vsolar (0.01).

4 days ago

Musang King

Posted by OTB > 5 hours ago in the Forum : Why 90% of the investors lost their money in KLSE.

I want to show off here especially to those who attack me for no reason.

I made multi million from KLSE since 2013.
I made a lot of money in 2015, 2017, 2019 and 2020.
I lost in many stocks, I also make a lot of money on many stocks.
Overall I still made multi million in my investment is good enough.

Those have very good skills will make money quietly.
Not to attack others and talk bad about many stocks in I3.
Attack people and continue to talk bad about many stocks in I3 are real losers.

God will bless those with good heart and wish all readers in I3 to make a lot of money.
God will punish those with bad heart and attack all stocks after they sold.
Remember not to talk bad about any stock in I3 because many poor investors are investing their hard earned money in the stock market.
No advantage to you if you continue to talk bad or bad mouth any stock in I3.
You will cause more harm than good to those poor investors.
You will be blessed if you have a good heart to protect all poor investors.
Thank you.

4 days ago

Musang King

Thanks OTB for the Good Advises and posting
above.

4 days ago

BILLC



CharlesT
13,375 posts

Posted by CharlesT > 5 hours ago | Report Abuse

Not easy for OTB to lose money in stock mkt since RM1K subscription service is being launched few years ago

Buy first n sell first...

Even BSL he also can made few hundred K despite the stock plunged like hell after his buy call


This is the answer,,,,wakakaka,,,,

4 days ago

Musang King

True also BILLC. Same like he advised KYY to buy and sell so many stocks KYY played. All he knows first. He sells first and he buys first.

4 days ago

bjgdila123

fintec cap taik ...

4 days ago

Musang King

In fact, whole KLSE taik....

3 days ago

whistlebower99

FOR NEWBIES

MERIDIAN is the latest high NOSH low price penny stock proposing to do shares consolidation !!!
Announcement dated 2 August 2022

===================
Be careful trading high NOSH low price penny stocks

Directors have power to propose shares consolidation to trim down investor's shareholding by many times and raise more fund via rights issue with free warrants resulting in huge losses to investors.

List of penny stocks with shares consolidation :-

2022 in progress - MERIDIAN, LKL, IMPIANA, FAST, VSOLAR

2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX,

BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........

====================
TAYOR, don't be caught in share consolidation exercise

3 days ago

Musang King

THANK YOU, whistlebower99.

Watching VSOLAR closely as Fintec and Vsolar are very close in market prices and NOSH. Meanwhile, SC not yet approve VSOLAR proposals.

3 days ago

Good123

Aside from quantitative criteria, qualitative screens were used as well, such as excluding companies with serious governance issues, questionable accounting, environmental concerns, management issues or legal troubles.

The list uses full-year annual results, based on the latest publicly available figures as of July 11, 2022.

Read also:
Seven Malaysian companies make it to Forbes Asia's Best Under A Billion 2022 list

2 days ago

BLee

@pineapple123: Confirmed finally. Will bring any impact to FINTEC share price Answer is a big NO.

BLee: Hi Bro @pineapple123, a big NO slowly reversing trend to a small YES before noon trade today. "Con or no-Con" will be slowly addressed with various announcements and corporate action??
Hope for the best, Happy Trading and TradeAtYourOwnRisk

2 days ago

Musang King

Many thanks to our Fintec supporters today buying up more than 50millions shares in the open market this morning session. Yes to the buyers with great applauses. Sad to see the sellers willing to depart their shares at 1.0 sen. Confidence will come back to Fintec soon. Watch out for those Fintec-PA. There are very limited Fintec-PA in the market to sell. If Fintec shares were to move up, PA shares will lead first, because PA is very small in numbers. Good luck everybody. Wishing all Fintec shareholders all the best, including me. Thank you all.

2 days ago

Musang King

NTA still at 0.05 agst Mkt Price of 0.01 (500% discounted price if buy today). Source https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=0...

2 days ago

BLee

@pineapple123: I hope so BLee.

BLee: Hi Bro @pineapple123, yes on hope as 1sen selling gone a few times..Next level 1.5sen.
Fintec Balance Unutilised Proceeds as at 31 March 2022 - RM51,762 million from gross proceeds of RM114.617 million from the RIWW as shown in link:
https://www.klsescreener.com/v2/announcements/view/3589507
All the postings of "missing proceed" can be put to rest?? With the proposed arrangements with Joe Glove, more cash will be saved?
Happy Trading and TradeAtYourOwnRisk

1 day ago

techfarmer

Unfair claims by Pernas to Serba Dinamik management

https://klse.i3investor.com/web/blog/detail/oasn/2022-08-12-story-h162...

1 day ago

Musang King

BLee, Thanks for your update. Yes, with the arrangement done with Joe Glove, Fintec cash holding is now higher.

1 day ago

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