And The public is buying the shit! Well if it really sinks, I suppose they know what they are going into ya?

Persie, u need to learnt how to assesed risk. Simple economics of supply and demand may also helped u to make a decision not to buy. Just as going to a fruit stall in pasar malam. U look at the bright or colorful & firm skin ones not with those black pigmentations and loose skin with bumps.

Well, well, well Doom is near? Looks like it. As I posted earlier the signs of lower revenue should alert u guys and the directors disposing their shares, points to parachuting! Another Oilcrap in the making?

Again, losses (oopps! earnings on reversed gear should hit the cliff soon maybe 2012 eh!) today should accelerate its demised. Wonder if the directors have eloped like the PI Bala? Hehehehe....
no other than India eh?

Oil corp has 212 mill shares and Saag has 1.17 billion shares. Saag just dwarfed oilcorp by 6 to 1, I just wonder whether SAAG can reached the same level as oilcorp current price of 12 sen? Possible?

Oct 13 2009, 09:32 PM Return to original view |This post's rating (0+, 0-) | Post #7



For Saag, there is no visibility in increase earnings, further more shares are being issued. Prospective earning per share around 1 sen. Revenue also down. So fundamental analysis is out. Goreng the volume upwards is the only solution. But if the shares are being passed from Big holders to small kucing kurap fellars without holding powers, then further price downside will accelerate. These are signs of a counter moving towards doom. Give me a good reason to buy SAAG! Most of the major shareholders already parachute only left Stafford Investments Limited 5%.

9652 SAAG SAAG CONSOLIDATED (M) BHD
Changes in Sub. S-hldr's Int. (29B)

Particulars of Shareholder 36

Name : Stafford Investments Limited
NRIC/Passport No./Company No. : 034104
Nationality/Country of Incorporation : Incorporated in Seychelles

Address:
1st Floor, # 5 Dekk House
De Zippora Street, P.O. Box 456
Providence Industrial Estate
Mahe, Republic of Seychelles

Descriptions (Class and Nominal Value):
Ordinary shares of RM0.10 each


Name and Address of Registered Holder:
Citigroup Nominees (Asing) Sdn Bhd
Pledged securities account for Stafford Investments Limited
Level 44, Menara Citibank
165 Jalan Ampang, 50450 Kuala Lumpur


Details of Changes

Date of Notice : 30/09/2009

Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 08/09/2009 Disposed 3,000,000 -
2. 09/09/2009 Disposed 3,200,000 -
3. 10/09/2009 Disposed 10,821,100 -
4. 11/09/2009 Disposed 6,147,000 -
5. 15/09/2009 Disposed 3,500,000 -
6. 17/09/2009 Disposed 10,276,600 -
7. 18/09/2009 Disposed 17,638,800 -
8. 23/09/2009 Disposed 12,067,200 -


Circumstances by reason of which change has occurred:
Open market sell

Nature of Interest:
Direct

Consideration:



No of Shares Held After Changes:
Direct : 51,107,300 shares (5.0000%)
Indirect/Deemed Interest : 0 shares (0.0000%)
Total : 51,107,300 shares




Changes In Shareholder
Date Stock Name Type Qty Total %
2 Oct 2009 SAAG Stafford Investments Limited Disposed 6,000,000 - -
1 Oct 2009 SAAG Stafford Investments Limited Disposed 66,650,700 51,107,300 5.0000
16 Sep 2009 SAAG Anand Subramanian Disposed - - -
16 Sep 2009 SAAG Loganathan a/l K Ramanujam Disposed - -
16 Sep 2009 SAAG Manimaygela d/o Govindasamy Disposed - - -
16 Sep 2009 SAAG Taipan Holdings Sdn Bhd Disposed - - -
16 Sep 2009 SAAG Loganathan a/l K Ramanujam Others - 68,404,310 6.6900
16 Sep 2009 SAAG Anand Subramanian Others - 57,873,310 5.6600
11 Sep 2009 SAAG Stafford Investments Limited Acquired 117,758,000 117,758,000 11.5200
25 Aug 2009 SAAG Stafford Investments Limited Disposed 10,234,500 - -
21 Aug 2009 SAAG Stafford Investments Limited Disposed 53,604,500 54,786,500 6.0600
17 Aug 2009 SAAG V-Quantum (M) Sdn Bhd Disposed - - -
17 Aug 2009 SAAG Ee Chee Beng Disposed - - -
17 Aug 2009 SAAG Kuan Kien Chou Disposed - - -
31 Jul 2009 SAAG Stafford Investments Limited Acquired 108,391,000 108,391,000 12.1400

This post has been edited by alenac: Oct 13 2009, 10:04 PM



alenac Oct 13 2009, 11:11 PM Return to original view |This post's rating (0+, 0-) | Post #8





Guys, I hold zero portfolio in SAAG. The disclosure on directors shareholdings will give u an idea of what is coming to SAAG current shareholders. Figure out for urself, why is the senior officers & captain slowly jumped ship or rather the directors disposing of their shares. If they have confidence in the stocks why should they sell or reduced their holdings substantially and at such a low price? Basically the odds are pointing to a poor financial performance or future liquidity problem. I suppose Zaman and I have similar opinions. We are not cronies, we just read into KLSE disclosures objectively.



alenac Oct 13 2009, 11:43 PM Return to original view |This post's rating (0+, 0-) | Post #9





The earlier extracts on shareholdings in SAAG are copied from rhbinvest website. If u think its wrong give us the correct shareholdings and the movements of each and every directors and major shareholders todate. If I am wrong I will admit to it.



alenac Oct 14 2009, 09:42 PM Return to original view |This post's rating (0+, 0-) | Post #10





Well I agreed there is a dilution by Bond conversion to shares. But there were heavy sales of shares in the other coporate shareholders i suspect also owned by them. Now just think why are the Bondholders doing that if they can get 12% interest. Cos the bonds are junked. Escape strategy by bondholders to unload once converted. The runup this time could be the last hooray b4 it sinks. But anyway those who bought high hope u get out with ur capital. As the goreng frensies are not connected with its fundamental. Welcome to Casino Royale!

This post has been edited by alenac: Nov 24 2009, 09:48 PM

Yeah Iris. Every speculator favourite. Its share price move like Yoyo. Can Iris again move from the burning ashes up to its pinnicle?

I suspect SAAG 300 mill inventories could be overvalued or fakes. Unusually high inventories points towards past quarters or years of profit manipulations ( to sustain share prices) from actual losses.

High amount of borrowings could also mean that their acquisition costs of control over the management of the company from the previous major shareholders has been transferred to the company. Hence the high costs translated to high inventories to enable window dressing the results. One think about magic, it only last for a while as the truth will finally prevailed or the balloon will have to burst as the pressure is insurmountable.

Looks like another oilcrap in the making.

This post has been edited by alenac: Nov 25 2009, 12:42 AM

Obviously some people blamed everybody for short selling without proof or evidence. The writing was on the wall a long time ago. Signs of escalating inventories and huge debts reflected a company moving to doom. Of course profiters or speculators choose to ignore all this. No doubt the stocks r dirt cheap but buyers beware!

zaman's quote

"Another major concern is why they keep issuing bond for share. Is that fcukin cheaper than getting a bank loan to finance your activities?"

Its not the financing concerned, its the bonds holders exercising their option rather than wait for the bonds to expired where they get nothing.

Dubai world on the verged of collapse unable to pay loan interest from 59 billion USD loan, oil price retreated and USD depreciating for first time together. Another trend is emerging in the world economy. Dubai government is going into bankrupcy. The financial crisis has spread to the middle east from US and europe. Now for kucing kurap oil stock like Saag, if I still hold the stock obviously i will do the needful to get out speedily.

right rosdi! Excuse for the fall like humpty dumpty.

Beware there are syndicate elements here who kept on harping on SAAG goodness eventhough records showed main shareholders have parachuted. Some of u guys have lost lots of money. Dun get trapped by this guy who appeared and targetted certain fantasy price as reacheable.

"Garisan Etika Bangladesh (Pvt) Ltd " looks like fake. Where got foreign company malay name? Another oilcorp modus Operandi and debts doesn't get paid and just recently writtenoff all. What Saag doing in power business, when their main business in oil. I dun think they got expertise in power plant.

Watch out about power plant business. The last company who went into power plant business in Tanzania, Africa was Mechmar Bestobell (listed) now penny share and never recover from its business. Energy business in 4th world countries like Bangladesh is similar. In tanzania, the household were lighted but never got paid, so power company never got paid too. Recently, another power plant built by Melewar in Thailand in the early 2000s. Untill now the plant never got commissioned, melewar still licking their wounds.


This post has been edited by alenac: Dec 4 2009, 09:29 PM

Look's like Saag has never been in the Power Generation business and out of the woodwork they got the contract for "the engineering, procurement and construction contractor for the design,
supply, construction, installation, testing, commissioning and completion of 6
X 6 MW DG Power Plant (the 36 MW Plant) and the 2 X 34 MW Combined Cycle Power
Plant (the 68MW Plant) [collectively, the Power Plants] at the Adamjee Export
Processing Zone, Bangladesh." Something is wrong. if u read the article below Garisan etika dun need SAAG. Its Saag that needs the contract turnover and Garisan has the tech to get the work done. So it seems like its more of a turnover exercise that may show little profit.


SAAG's Core Competencies

Specialised in oil and gas pipelaying and Horizontal Direct Drilling (HDD) services
Owner/operator of Telaga Usaha a conventional electric modular workover rig.
Providing workover and well maintenance services, consultancy, project management, drilling, manpower and technical training services
Sales of specialised equipments to the oil, gas and petrochemical sector
After sales services – fully equipped workshop in Kemaman Supply Base and through trained on-site service engineers.
Provision of control systems in the area of pipeline information management systems and data management systems SCADA (Supervisory Control and Data Acquisition)
Engaged in the construction of infrastructure projects ranging from Civil and Mechanical to Electrical and Instrumentation
Onshore pipelaying with Plynostav as technical partner www.plynostav-holding.cz
Provider of engineering services and manpower supply to the resources & energy sector




Saturday January 17, 2009
Biomass as renewable energy
By DANNY YAP


FOLLOWING the surge in the crude oil market and the subsequent rise in biofuel production, palm oil prices have been coupled with fuel prices. But there is another dimension to the oil palm industry’s energy potential – the use of biomass to generate electricity.

Power plant expert M. Umakanthan says the biomass from Malaysia’s oil palm plantations alone can power 5% to 10% of the country’s total energy requirements.

“And this is a conservative figure,” he adds. Biomass is any organic matter that is available on a renewable or recurring basis.

Umakanthan, who has over 30 years’ experience in fossil fuel and biomass power plant design, says biomass as a renewable energy (RE) resource can help big oil palm growers substantially reduce their energy bills. There is also the possibility of selling the excess capacity to Tenaga Nasional Bhd (TNB).

Under the Government’s Small Renewable Energy Power (SREP) programme initiated in May 2001, power plant developers can apply to sell electricity to TNB via the distribution grid system, but the plant capacity is capped at 10MW.

“This is on the condition that the power plants are commissioned within 24 months from the signing of the renewable energy power purchase agreement (REPPA) between the developer and TNB,” says Umakanthan.

Based on a report from the Energy Commission, TNB’s total installed energy capacity as at June 19 last year stood at about 18,000MW. This included electricity supplied by independent power producers (IPPs), amounting to about 7,000MW. The peak demand for electricity was about 13,000MW.

Umakanthan says RE could be tapped from various sources, including wind, hydro and solar. “However, to harness the RE from these sources, we need to look at the cost-effectiveness and ease of tapping the energy. And each country is different,” he told StarBizWeek.

He is convinced that Malaysia has an advantage in this aspect. Because the country is a leading palm oil producer, it is cost-effective and commercially viable to use empty fruit bunches (EFB), found in abundance in oil palm mills, to produce energy.

“The EFB can easily generate 5% to 10% of the country’s total energy requirements in an environmentally friendly and sustainable manner,” he says, adding that there are about 400 oil palm mills in Malaysia.

According to Umakanthan, it will take 20 to 22 months at a cost of about RM70mil to build a 10MW biomass power plant. The investment payback period is about five to six years. He adds that the cost of generating electricity using EFB is lower than that for coal and oil, which are imported.

“The cost of building a biomass power plant is also less than a coal, oil or gas-fired power plant,” he notes.

Back in the 1980s, Umakanthan was involved in the construction of some of TNB’s power plants, which are still operating today.

He is now a senior general manager of Garisan Etika Sdn Bhd and is involved in the construction of a 50MW diesel generator and gas turbine power plant project in Dhaka, Bangladesh, and a biomass power plant in Johor under IPP arrangements.

Incentives for RE

Under the Eighth Malaysian Plan, the Government had promoted the generation of RE from biomass, biogas, municipal solid waste, mini-hydro and solar. The Ninth Malaysia Plan has set a target of 5% RE in the country’s energy mix.

Under REPPA, IPPs could sell their excess power from the power plants to TNB at a tariff rate of 21 sen per kilowatt hour. “This is an attractive price,” says Umakanthan, adding that this is meant to encourage IPPs to move to RE sources.”

He adds that 600 to 650 tonnes of EFB from four to five mills is needed daily to run 10MW biomass power plant.

A plus point is that the residual ash from the burning of the EFB at a 10MW plant can be sold as fertiliser for about RM1mil per year.

The Clean Development Mechanism (CDM) established in the Kyoto Protocol permits RE projects in developing countries to generate carbon credits.

“These carbon credits can be marketed and counted against a developed country’s emission obligation,” Umakanthan explains, adding that a 10MW EFB-fired power plant can bring in about RM3mil to RM3.5mil per year from the carbon credits.

He says it is now an appropriate time to tap RE resources such as biomass, before fossil fuels such as oil and coal are depleted or get too costly. Malaysia’s energy generation mix in 2008 comprised gas (65%), coal (28%), hydro (5%) and diesel (2%).

He adds that at present, only a couple of local companies are involved in biomass as a RE resource.

“The energy output from biomass is insignificant in terms of its contribution to the energy generation mix,” he says, adding that there is still much room for the growth of RE in Malaysia.

What power analysts say ...

A local analyst who covers the power sector agrees that it is time for Malaysia to look at RE resources. He says there is over-dependence on fossil fuels, especially oil, whose prices in recent years have been very volatile, thus affecting the performance of many companies.

“There’s a need to at least cushion the cost (of oil) with RE sources that are more sustainable,” he argues. Unfortunately, he points out, there is still insufficient push by all parties, including companies, consumers and the authorities, to make the necessary changes to facilitate the adoption of RE.

“When oil peaked at US$147 per barrel in June 2008, everyone (including companies and governments) was worried about its impact on businesses. But now that oil has dipped below US$40 per barrel, everyone has forgotten how the energy crisis had badly affected the cost of doing business,” he notes.

The analyst believes that oil prices will spike up again in the mid to longer-term. “Businesses cannot flourish in an unstable environment or when operating costs are high. Any big jump or volatility in oil prices will hurt most companies’ bottomline,” he says.

He too is convinced that the most viable RE resource for Malaysia is probably biomass from the oil palm industry. “The options of harnessing RE from hydro, wind and solar cannot be discounted, but biomass from oil palm plantations is likely to be a more reliable feedstock because it is in abundant locally,” he says.

Its not the issue of prediction of the price movement of SAAG. Its the way SAAG is handling its business direction. If the directors are so confident of the oil and gas business, why none of them has got substantial shareholdings. Next if the bondholders are so confident of the company's business model, why are they converting the bonds to equity and selling so early. Furthermore, why are they in the power generation business without any expertise? And the joke is the party that allocate the contract are the one who has the expertise? Dun u think its a circus?

In my opinion its a just a corporate exercise to boost future turnover. Desperate attempts to prolonged the inevitable.

This post has been edited by alenac: Dec 6 2009, 11:56 AM

hahahah, jupiter targets 28sen and cut loss at 17 sen. Last time syndicate call for 32 sen target. In the meantime more shares are being issued. Good luck to those keen with this counter.

Aiyah, jupiter's boss was and still is king of goreng.

There are 2 securities companies one got to watch out when they buy call.

The other one is TA securities.

This post has been edited by alenac: Dec 8 2009, 10:07 AM

hey another penny counter, Always Win Counter, AWC moving, this counter the directors still have't run away, got project in Abu Dhabi, not dubai though. First quarter quite good.

This post has been edited by alenac: Dec 8 2009, 10:36 AM

wow, saag now has 1.25 billion capitalisation, heading towards largest capitalisation among pennies in Bursa but not in value though.



This post has been edited by alenac: Dec 8 2009, 10:49 PM

SAAG = Sucks, Nobody needs to drive down SAAG share price, the bondholders every now and then will systematically decimate SAAG compounded with unsustainable business model, the road to the end could be soon.

Hahahahaha New private placement of shares, wow more shares coming out. Suicidal to go in. Only jokers buy





This post has been edited by alenac: Jan 4 2010, 12:15 PM

Hahahahah, today the Bondholders disclosure, the shareholding of bondholders left with 7.77%, I think with their possible disposal today all shares are in the hands of kuching kuraps. If their shareholdings dropped below 5% there is no neccesity to disclosed


If ur galfriend proposed to u and after 3 years and not married ur gal should dumped u the following month not wait for 3 years, u must be a real noob.

Hahahah private placement, more shares to be issued to bondholders?
aiyoh, lari kuat2 lah

Those who dun run for their life will be left with nothing!

9652 SAAG SAAG CONSOLIDATED (M) BHD
Changes in Sub. S-hldr's Int. (29B)

Particulars of Shareholder 36

Name : Doraley Assets Management Limited
NRIC/Passport No./Company No. : 1419929
Nationality/Country of Incorporation : British Virgin Islands

Address:
P.O. Box 957
Offshore Incorporation Centre
Road Town, Tortola
British Virgin Islands

Descriptions (Class and Nominal Value):
Ordinary shares of RM0.10 each


Name and Address of Registered Holder:
Kenanga Nominees (Asing) Sdn Bhd
- Pledged securities for Doraley Assets Management Limited (STC)
8th Floor, Kenanga International
Jalan Sultan Ismail, 50250 Kuala Lumpur


Details of Changes

Date of Notice : 04/01/2010

Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 14/12/2009 Disposed 10,000,000 -
2. 15/12/2009 Disposed 1,115,000 -
3. 16/12/2009 Disposed 5,897,000 -
4. 23/12/2009 Disposed 699,400 -
5. 24/12/2009 Disposed 13,500,000 -


Circumstances by reason of which change has occurred:
Disposal of shares

Nature of Interest:
Direct

This post has been edited by alenac: Jan 4 2010, 08:23 PM

hahahah today lagi announced more shares coming out from exchangeable bonds fixed at 18sen. See lah 2morerow who's gonna cry!

"7th Tranche may be converted is approximately 128,920,000 SAAG Shares"

9652 SAAG SAAG CONSOLIDATED (M) BHD
EXCHANGEABLE BONDS

SAAG CONSOLIDATED (M) BHD (SAAG OR THE COMPANY)
ISSUANCE BY SAAG (L) LIMITED (SAAGL), A WHOLLY-OWNED SUBSIDIARY OF SAAG, OF
UNITED STATES DOLLAR (USD) DENOMINATED FIVE (5)-YEAR EXCHANGEABLE BONDS
(EXCHANGEABLE BONDS)
We refer to the announcements made on 4 November 2009 and 29 May 2009 in
respect of the Exchangeable Bonds.
(Unless otherwise defined, all terms used in this announcement shall have the
same meaning ascribed to them respectively in the earlier announcements on the
Exchangeable Bonds)
Further to the Companys earlier announcements in respect of the Exchangeable
Bonds, AmInvestment Bank Berhad (a member of AmInvestment Bank Group), on
behalf of SAAG, wishes to announce that the seventh tranche of the Exchangeable
Bonds to be issued by SAAGL shall comprise of USD6.5 million nominal value
Exchangeable Bonds (7th Tranche).
SAAG / SAAGL have today fixed the exchange price for the 7th Tranche at
RM0.1805. Based on such exchange price and the agreed fixed exchange rate for
the 7th Tranche of USD1.00 : RM3.58, the number of ordinary shares of RM0.10
each in SAAG (SAAG Shares) into which the Exchangeable Bonds to be issued under
the 7th Tranche may be converted is approximately 128,920,000 SAAG Shares.
The exchange price for the 7th Tranche of RM0.1805 represents a premium of
approximately 0.28% over the last transacted market price of SAAG Shares on 4
January 2010 of RM0.18, being the market day immediately preceding the date of
this price-fixing announcement.
This announcement is dated 5 January 2010.

This post has been edited by alenac: Jan 5 2010, 06:12 PM