Showing posts with label ho wah foon. Show all posts
Showing posts with label ho wah foon. Show all posts
Friday, October 4, 2013
Monday, September 9, 2013
Hot Stock Green Packet, warrant surge on retail play
Hot Stock Green Packet, warrant surge on retail play
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 09 September 2013 13:27
KUALA LUMPUR (Sept 9): GREEN PACKET BHD [] and its warrant rose
sharply in active trades on renewed retail trading play although there was no
news flow, said retail dealers.
“We don’t hear any positive news about the company today but we do see
retail play coming in from Sept 2 when it was at 31 sen per share. Though
loss-making, this firm is still a significant mobile broadband player,” said
Goh Kay Chong, senior remisier at SJ Securities Bhd.
At 12.30 midday break, Green Packet surged 6.5 sen or 20% to 39.5 sen per
share, on trades of some 19 million shares; while its warrant soared 4.5 sen
or 50% to end at 13.5 sen on 26.5 million units.
While Green Packet was the 6th most active counter, its warrant ranked 4th
on the active list.
According to exchange filings, net assets per share of Green Packet as at
end-June 2013 was 15 sen.
“I have checked this morning and there is no news at the moment. So we
reckon it could be retail trading play or speculative play by some big players.
“Due to regular quarterly losses, this company’s share has suffered selldowns. The stock price is now at its lows and is seen coming back on technical rebound. But I am wary of this stock as there is too much speculative play by hit-and-run payers,” said another senior dealer.
For the first half of this year, Green Packet incurred a wider total loss of
RM39.6 million compared to loss of RM32.6 million a year ago. But revenue rose to RM300.3 million, from RM266.5 million.
However, Green Packet’s managing director C.C. Puan said in a statement before releasing the company’s second quarter results that the firm had posted huge increase in its earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter due
to its business transformation plan.
The mobile broadband services provider posted an EBITDA of RM9.4million, a 116% year-on-year jump. Green Packet’s revenue for the second quarter rose 9% to RM151 million.
“We revised our strategies for better performance all-around in view of challenging market conditions and it is proving effective in getting us on track for 2013,” he said.
According to Puan, better cost management and lesser capital expenditure this year should see EBITDA margins improving.
Recently, the company also announced it intended to sell a property of a wholly-owned subsidiary for RM49 million to help pay off debts and reduce gearing. This will also help raise the net assets per share to 22 sen.
Dealers said Puan, who has recently replaced his long-time friend Michael Lai as chief executive officer of P1, might be another factor that boosted Green Packet’s share price. Puan is the controlling shareholder of Green Packet.
Packet One Networks (P1) is a telecommunications, broadband and 4G service provider. The company, founded in 2002, is the main subsidiary of Green Packet.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 09 September 2013 13:27
KUALA LUMPUR (Sept 9): GREEN PACKET BHD [] and its warrant rose
sharply in active trades on renewed retail trading play although there was no
news flow, said retail dealers.
“We don’t hear any positive news about the company today but we do see
retail play coming in from Sept 2 when it was at 31 sen per share. Though
loss-making, this firm is still a significant mobile broadband player,” said
Goh Kay Chong, senior remisier at SJ Securities Bhd.
At 12.30 midday break, Green Packet surged 6.5 sen or 20% to 39.5 sen per
share, on trades of some 19 million shares; while its warrant soared 4.5 sen
or 50% to end at 13.5 sen on 26.5 million units.
While Green Packet was the 6th most active counter, its warrant ranked 4th
on the active list.
According to exchange filings, net assets per share of Green Packet as at
end-June 2013 was 15 sen.
“I have checked this morning and there is no news at the moment. So we
reckon it could be retail trading play or speculative play by some big players.
“Due to regular quarterly losses, this company’s share has suffered selldowns. The stock price is now at its lows and is seen coming back on technical rebound. But I am wary of this stock as there is too much speculative play by hit-and-run payers,” said another senior dealer.
For the first half of this year, Green Packet incurred a wider total loss of
RM39.6 million compared to loss of RM32.6 million a year ago. But revenue rose to RM300.3 million, from RM266.5 million.
However, Green Packet’s managing director C.C. Puan said in a statement before releasing the company’s second quarter results that the firm had posted huge increase in its earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter due
to its business transformation plan.
The mobile broadband services provider posted an EBITDA of RM9.4million, a 116% year-on-year jump. Green Packet’s revenue for the second quarter rose 9% to RM151 million.
“We revised our strategies for better performance all-around in view of challenging market conditions and it is proving effective in getting us on track for 2013,” he said.
According to Puan, better cost management and lesser capital expenditure this year should see EBITDA margins improving.
Recently, the company also announced it intended to sell a property of a wholly-owned subsidiary for RM49 million to help pay off debts and reduce gearing. This will also help raise the net assets per share to 22 sen.
Dealers said Puan, who has recently replaced his long-time friend Michael Lai as chief executive officer of P1, might be another factor that boosted Green Packet’s share price. Puan is the controlling shareholder of Green Packet.
Packet One Networks (P1) is a telecommunications, broadband and 4G service provider. The company, founded in 2002, is the main subsidiary of Green Packet.
Tuesday, February 12, 2013
Hot Stock IRCB rises to 21-mth high on debt restructure,share buy by substantial holder
Hot Stock IRCB rises to 21-mth high on debt restructure, share buy by
substantial holder
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 13 February 2013 12:30
KUALA LUMPUR (Feb 13): Integrated Rubber Corp Bhd's (IRCB) share price advanced to 22-month high on the back of news that the government’s CDRC has agreed to help in its debt structure plan and a substantial shareholder has acquired more shares from the open market.
At 12.05 pm, the most-actively traded stock rose 22 sen or 10% to 22 sen, after rising to 23 sen earlier, on trades of 21.43 million shares.
On Feb 8, the IRCB told Bursa Malaysia that the Corporate Debt Restructuring Committee (CDRC) has approved its application for assistance to mediate with its creditor banks over loans of RM16.89 million defaulted last December.
The company is required to submit restructuring scheme which must comply with CDRC's restructuring principles for IRCB to remain under the Informal Standstill Arrangement with the bankers within 60 days from Feb 6, it added.
Also on Feb 8, IRCB informed the stock exchange that its substantial shareholder Lau Joo Yong had acquired some 4.13 million IRCB shares on Jan 31 from the open market, thus raising his stake in the rubber glove company to 7.57%.
Lau had also bought some 1.2 million IRCB shares from the open market on Jan 29.
“The latest developments in the company are injecting some optimism. If a substantial shareholder is picking up IRCB shares,it means that he has confidence in the future of this PN17 company,” said Goh Kay Chong, senior remiser at SJ Securities
Sdn Bhd.
On January 22, IRCB announced that it was facing possible winding up procedures if it failed to pay back its RM16.89 million debts to Maybank Bhd. There would be major impact on its financials and operations should the winding up proceedings be taken upon the company, it said.
But despite this bad news, its share price continued to climb from 14 sen since.
Dealers reasoned that IRCB’s recent appointment of new director Cheang Phoy Kean, who was controlling another rubber glove company before, could be the reason that the share price was not affected much.
Cheang was appointed as managing director of IRCB, following the resignation of major shareholder Tan Keng Beng, after his (Tan) family sold a 10.98% stake to Cheang via an off-market deal.
IRCB also announced earlier last month the appointments of Cheang’s son, Sean Kar Seng Cheang, as an executive director and Lim Boon Huat as a non-executive director.
Bursa Malaysia filings show that Cheang Phoy Kean emerged as a substantial shareholder in IRCB on Jan 4, following his acquisition of 65 million shares at 15 sen per share.
The Tan family has since to cut down its stake in the company further. On Feb 5, the family sold some 30 million IRCB shares via off market transaction, Bursa filings show. As a result, the family is now no longer a substantial shareholder.
IRCB made a cumulative net loss of RM18 million in the nine months ended Oct 31, 2012, compared with a net loss of RM17.93 million a year earlier.
http://www.theedgemalaysia.com/business-news/230648-hot-stock-ircb-rises-to-21-mth-high-on-debt-restructure-share-buy-by-substantial-holder.html
substantial holder
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 13 February 2013 12:30
KUALA LUMPUR (Feb 13): Integrated Rubber Corp Bhd's (IRCB) share price advanced to 22-month high on the back of news that the government’s CDRC has agreed to help in its debt structure plan and a substantial shareholder has acquired more shares from the open market.
At 12.05 pm, the most-actively traded stock rose 22 sen or 10% to 22 sen, after rising to 23 sen earlier, on trades of 21.43 million shares.
On Feb 8, the IRCB told Bursa Malaysia that the Corporate Debt Restructuring Committee (CDRC) has approved its application for assistance to mediate with its creditor banks over loans of RM16.89 million defaulted last December.
The company is required to submit restructuring scheme which must comply with CDRC's restructuring principles for IRCB to remain under the Informal Standstill Arrangement with the bankers within 60 days from Feb 6, it added.
Also on Feb 8, IRCB informed the stock exchange that its substantial shareholder Lau Joo Yong had acquired some 4.13 million IRCB shares on Jan 31 from the open market, thus raising his stake in the rubber glove company to 7.57%.
Lau had also bought some 1.2 million IRCB shares from the open market on Jan 29.
“The latest developments in the company are injecting some optimism. If a substantial shareholder is picking up IRCB shares,it means that he has confidence in the future of this PN17 company,” said Goh Kay Chong, senior remiser at SJ Securities
Sdn Bhd.
On January 22, IRCB announced that it was facing possible winding up procedures if it failed to pay back its RM16.89 million debts to Maybank Bhd. There would be major impact on its financials and operations should the winding up proceedings be taken upon the company, it said.
But despite this bad news, its share price continued to climb from 14 sen since.
Dealers reasoned that IRCB’s recent appointment of new director Cheang Phoy Kean, who was controlling another rubber glove company before, could be the reason that the share price was not affected much.
Cheang was appointed as managing director of IRCB, following the resignation of major shareholder Tan Keng Beng, after his (Tan) family sold a 10.98% stake to Cheang via an off-market deal.
IRCB also announced earlier last month the appointments of Cheang’s son, Sean Kar Seng Cheang, as an executive director and Lim Boon Huat as a non-executive director.
Bursa Malaysia filings show that Cheang Phoy Kean emerged as a substantial shareholder in IRCB on Jan 4, following his acquisition of 65 million shares at 15 sen per share.
The Tan family has since to cut down its stake in the company further. On Feb 5, the family sold some 30 million IRCB shares via off market transaction, Bursa filings show. As a result, the family is now no longer a substantial shareholder.
IRCB made a cumulative net loss of RM18 million in the nine months ended Oct 31, 2012, compared with a net loss of RM17.93 million a year earlier.
http://www.theedgemalaysia.com/business-news/230648-hot-stock-ircb-rises-to-21-mth-high-on-debt-restructure-share-buy-by-substantial-holder.html
Wednesday, January 9, 2013
Trade surge in Singapore penny stocks excites Malaysia ----------- Written by Ho Wah Foon of theedgemalaysia.com
Trade surge in Singapore penny stocks excites Malaysia
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 10 January 2013 09:28
KUALA LUMPUR: Trading in Malaysia’s speculative penny stocks is expected to be energised by the current high turnover in super-penny stocks on the Singapore Exchange (SGX), local senior dealers said.
The Singapore factor, plus optimism fuelled by positive news from the US fiscal cliff talks, European macro-economic crisis, as well as encouraging economic data from the US and China, are expected to lure greater trading interest in local penny stocks this month, they added.
“We are watching Singapore. Last Friday, its volume suddenly jumped to seven billion shares. We have alerted our own remisiers to prepare for the contagion effect,” said Sam Ng, president of the Remisiers Association of Malaysia.
In December 2012, the average daily trading volume on the SGX was about 2.4 billion shares, its web data shows.
“The super bull in Singapore in super-penny stocks will have an impact on us. And a Chinese New Year (CNY) rally will definitely follow suit,” added Ng, also senior dealer at Interpacific Securities Sdn Bhd.
Goh Kay Chong, a senior dealer at SJ Securities Sdn Bhd, said the currenthigher trading volume is also due to the January effect, apart from the Singapore factor.
“This traditional feel-good factor in January is also luring retail players back to the market. With bonus payments received at around this time of the year, people feel rich and they are finding avenues to invest their money,” he said.
Last Friday, SGX saw its trading volume surge to a feverish pitch, hitting a recent high of 7.05 billion shares valued at S$1.36 billion (RM3.36 billion). The top 10 actives were dominated by penny stocks accounting for 3.58 billion units.
mDR Ltd, which distributes telecommunications devices and provides mobile related services, netted 1.03 billion shares when it closed at 1.8 Singapore cent last Friday.
This was followed by Elektromotive Group Ltd, which closed 0.1 cent higher at 0.4 cent on trades of 518.81 million shares;
while ICP Ltd ended flat at 0.4 cent on 433.11 million shares.
SGX’s strong trading volume, led by penny stocks, persisted this week. On Monday, trades at SGX totalled over 6.5 billion
shares while on Tuesday it was over 5.7 billion. Yesterday, 4.4 billion shares were traded.
Indeed, the contagion effect on Malaysia was already felt last Friday in the local market. Total trades rose to 1.25 billion shares, from 1.12 billion last Thursday. This volume of over one billion has continued into this week so far. Yesterday, the volume totalled 1.1 billion.
Ng noted there was higher retail interest in the local stock market last Friday, taking after Singapore.
According to Albert Fong, president of Society of Remisiers in Singapore, retail investment and contra play, as well as Internet trading have been responsible for the high trades in penny stocks in the republic.
“The fear factor that dominated the whole of last year has dissipated. The removal of three main concerns over US fiscal cliff,
European crisis and China economy has cleared the way for more optimism,” the senior remisier in Singapore told The Edge Financial Daily
Subscribe to:
Posts (Atom)