I feel that there should be compulsory verification by relevant third party before categorized any receivables as "bad debt written off" or "allowance for doubtful debt"...
will some large amount that someone owe you just been categorized as bad debt and gone with no legal action action taken???
I don't buy that!!


don't worry..saag only have 401 employees
SAAG Consolidated (M) Berhad Key Data:

Ticker: SAAG Country: MALAYSIA

Exchanges: KUL Major Industry: Oil, Gas, Coal & Related Services

Sub Industry: Miscellaneous Oil, Gas & Coal

2009 Sales 160,532,436
(Year Ending Jan 2010). Employees: 401

Currency: Malaysian Ringgits Market Cap: 124,226,066

Fiscal Yr Ends: December Shares Outstanding: 1,552,825,820

Share Type: Ordinary Closely Held Shares: 144,805,840

5 sen is achievable? At 5 sen its still worth RM 90 mill.

This post has been edited by alenac: Aug 4 2010, 01:18 AM

Saag is worth more than RM100million. You add in all the investors in this forum with SAAG shares dunno got RM10million or not.

Looks like the SELLERS already out of bullets. lol

NO MORE COUTERFEITING SHARES
NO MORE SHORT SELLING
NO MORE MASSIVE DUMPING OF SHARES
SHARE PRICE ROCK BOTTOMED..



SAAG CONSOLIDATED (M) BHD (“SAAG” OR “THE COMPANY”)

- ISSUANCE BY SAAG (L) LIMITED, A WHOLLY-OWNED SUBSIDIARY OF SAAG, OF UNITED STATES DOLLAR (“USD”) DENOMINATED FIVE (5)-YEAR EXCHANGEABLE BONDS (“EXCHANGEABLE BONDS”)

We refer to the announcement dated 3 December 2007.

On behalf of the Company, AmInvestment Bank Berhad (a member of AmInvestment Bank Group) is pleased to announce that the issuance of the USD60.0 million nominal value Exchangeable Bonds has been completed with the issuance of USD2.0 million nominal value Exchangeable Bonds, being the final part of the eighth tranche of the Exchangeable Bonds on 6 August 2010.

For information purposes, the tenth and final tranche of the Exchangeable Bonds has been fully issued on 28 July 2010.

This announcement is dated 6 August 2010.

Top ten in vol, but buy rate only 4%.

This post has been edited by alenac: Aug 11 2010, 09:10 PM

I am not sure how good is SAAG, but based on financial statement, it doesn't show that good.

http://steven-moo.blogspot.com/2010/08/saa...d-m-berhad.html

just announced - issue rights to subscribe up to 5 billions shares, further issue of bonds.................

Brother sporeguy, you mean this announcement ...



9652 SAAG SAAG CONSOLIDATED (M) BHD
Proposals

SAAG CONSOLIDATED (M) BHD ("SAAG" or "the Company")
(i) Proposed renounceable two (2) call rights issue of up to 5,200,549,005 new
ordinary shares of RM0.10 each in SAAG (Rights Share(s)) on the basis of five
(5) Rights Shares for every two (2) existing ordinary shares of RM0.10 each
held in SAAG (SAAG Share(s)) together with up to 1,040,109,801 free detachable
warrants (Warrant(s)) on the basis of one (1) Warrant for every five (5) Rights
Shares subscribed (Proposed Rights Issue);
(ii) Proposed issuance of up to such amount of United States Dollar (USD) (not
exceeding the Differential Intended Gross Proceeds as defined below) nominal
value five (5)-year unsecured guaranteed exchangeable bonds by SAAG (L) Limited
(SAAGL), a wholly-owned subsidiary of the Company (Exchangeable Bonds) which
are exchangeable into new SAAG Shares (Proposed Exchangeable Bonds); and / or
(iii) Proposed issuance of up to such amount of Ringgit Malaysia (RM) (not
exceeding the Differential Intended Gross Proceeds) nominal value of five
(5)-year irredeemable convertible preference shares of RM0.10 each in SAAG
(ICPS) which are convertible into new SAAG Shares (Proposed ICPS Issue);
(iv) Proposed establishment of an Employees Share Option Scheme (ESOS) of up to
fifteen per centum (15%) of the issued and paid-up share capital of SAAG at
anytime for the Directors (including Non-Executive Directors) of SAAG and
eligible employees of SAAG and its subsidiaries (SAAG Group or Group) (Proposed
ESOS or Scheme); and
(v) Proposed amendments to the Memorandum and Articles of Association of SAAG
(Memorandum and Articles) (Proposed Amendments);

(collectively, referred to as the Proposals).
You are advised to read the full contents of the announcement or attachment at
http://www.bursamalaysia.com.


03/09/2010 06:48 PM



Anybody care to comment on the above announcement please!!


Cheers to all.

yes this was the announcement i was referring to - nearly wnated to jump in at 0.06 sen!

am i correct to say that at the end of exercise the no of shares will be about 6 billions..................will this affect the nta of the company? what's the rights subscription price? 0.10? if it is would they push up the current price of saag to encourage more people to subscribe to the shares.

more shares issued = percentage / share from the total share capital become diluted = nta become lesser...
rights issue price is RM0.08, but will give you SAAG-WA foc to encourage you to subscribe to the rights share...
if not nobody will buy the rights share at RM0.08, as the market only trading for RM0.06...
on the other hand, i don't think they will make the price nicer, coz the MD only held less than 5% which makes him the 2nd large shareholder of SAAG (1st is Doraley which keeps on disposing their portion lately).
most of SAAG's share is in the hands of retailer a.k.a public a.k.a. small fish which explains why the price only moving in 1 direction for more than 1 year since July 2009....

This post has been edited by sjz: Sep 6 2010, 03:28 AM

Have they quoted or stated the rights price yet??....nothing I had found so far.

Now i am gonna wait for 4 cents... This SAAG circus is far from over...

ya...they already did so...but this involve some simple calculation...

5cts coming eh?

Heheheheh...............I like this counter, after selling most of the shares to kucing Kurap, they are calling for a rights issue sweeten with free warrants. Another round of Saaging or another round of sucking the bananas out of the many shareholders. Saag bananas, saag bananas...........saag bananas........target 3 sens? A blowjob is not as exciting as buying this counter! Good luck guys!

This post has been edited by alenac: Sep 6 2010, 08:58 PM

last struggle of funding to pay off debts...
if the rights share isn't fully subscribed & the underwriter refuse to buy the rest, it will definitely falls into PN17...
same case with OILCORP, receivables is way toooo high which would become so called "doubtful debt" anytime soon...

up 0.005 today but remember the old story..up 0.005c and down 0.020c.
this rotation will come true...

How can company issue right issue at a price below the par value of the shares??
In this issue, the Par Value is Rm0.10, the least right issue price is Rm0.10.
Can SC approve the right issue price at Rm0.08?

Issue right at RM0.08 with Par Value means you are straight away making a loss of Rm0.02 in the process in the account book.

Well said brother cherroy, SC will never approve the right issue below RM0.10 ....I think the only solution for them is to start jacking up the quoted stock price now.


Cheers brother cherroy.

or they will go to court to request for capital reduction to 0.05 and than right at 0.08 plus warrant.
That how to do it.

This post has been edited by rosdi1: Sep 7 2010, 12:42 AM