anyone know from the pass record, how many PN17 company can come out from the list at last ?

HUH?
400m receivables looks like same figure of the 400m principal loan?really?
then that's mean after add with the debts to creditors...
their debts will be more than 400m?!
which mean even they manage to collect all their receivables...still it can't cover the payables?

wait i think we are both confused somewhere, let me find the article...

but pertaining to the 400m receivables u r referring to, I don't know where u obtained the source thats why i am asking.

What concerns me now is that some evidence of actual fraud may be uncovered.

Holland stock already, why catch some more ??
Like dumping money to salt water sea...

I just checked back...
previously on page 3...forumer David Brent mentioned about the receivables of 400m


possible...
coz auditors are rush to finish their work in short time and won't ever really looks into too details things...

Maybe not as bad as you guys thinks. Looks like someone buying up today as the market panic.

In short protect your capital unless you know where is the floor.

Another approach, swap Oilcorp with Compugate.
You get double of your volume and if Oilcorp dip further to 5c you swap back to oilcorp to make the different.
If Compugate rally u tend to recover twice faster than oilcorp as holdings is double.

Just a crack thought for consideration....if feel not safe, don't follow.

Same like DCIB, NSCOM.... will drop until 0.06 then terminated...
Now, the price is 0.17 and in short time can up to 0.190..this just a "show" to attrack the small investor who think wan to earn small money and fast money.. please save your bullet ..

Today closed price will 0.160 - 0.170
Then Monday , will start at 0.160 --- > 0.140 -----> 0.160....
The big shareholder just attrack small investor to hell lah...they will earn a lot in this moment...

#3. Yea... Doesnt mean bankrupt but u can say bye bye to ur money invested...



This post has been edited by z21j: Sep 25 2009, 12:55 PM

what happen to the shareholder if the companies delisted? You still remain as shareholder & still legally own your shares in the company (should you choose not to sell them). However, delisting is generally regarded as the first step toward potential bankruptcy.
Will they still enjoy profits? Still, if the company still in operation & generating profit.

2. What happen to the NTA if delisted? Nothing change, could be revalued lower or in -ve zone.
3. Delisted doesnt mean Bankrupt, rite? Yes, refer to last part of question 1.


Getting delisted from a stock exchange isn't a bad thing. Going private consolidates ownership in a company and can actually put the company in a better financial situation than it once was in. example MAXIS.........BUT......More often than not, when a company gets delisted, it's a result of bad things, not good ones. example OILCORP.

This post has been edited by smartly: Sep 25 2009, 01:34 PM

smartly,
You will confuse the forumer only by saying delisting doesn't mean a bad thing.

Just to make clear to the forumer
Delisting got 2 type,
1. Voluntary due to privatisation, (nothing bad)
2. Being forced by KLSE, violation of listing requirement (generally because of financial issue)

Now it is about 2.

The basic way company management or major shareholders can protect minority shareholders benefit (in 2) is to let the company stay afloat aka listing.

If they cannot do it, how can a minority stakeholder benefit can be protected under a private company?

Delisting doesn't must mean bankrupt (but generally under 2, means company doesn't in good shape in the first place), it means share cannot be traded at the exchange, so you have no way to sell your shares totally. So still concern about NTA, company profit?

Thanks for substantiate the explaination.

http://biz.thestar.com.my/news/story.asp?f...58&sec=business

do you think it will delist by these few days ? I just invested 100 lot.. lol...

To add on,

1st Hurdle

Actually the most important part determining whether a company will be delisted or otherwise, is the issuance of the First Announcement.

Within 3 mths OilCorp will have to submit a Regularisation Plan informing Bursa whether any significant change to biz plan and policy direction and so on...

If the Reg Plan is rejected by Bursa (and all other factors being considered i.e. 5 days appeal and bla bla), OilCorp will be delisted.

***
2nd Hurdle

If oilCorp survives the 1st Hurdle, OilCorp will issue Monthly Announcement pertaining to the progress of its Reg Plan. If i am not mistaken the 1st mthly announcement should be made 1st Oct 2009.

***

3rd Hurdle

the finalized Reg Plan will have to be submitted to Bursa within 12 mths of the first announcement.. the Announcement will be known as a Requisite Announcement, this announcement will lay out the details of the Reg Plan.

IF AND ONLY if rejected by Bursa (and taking in consideration all other factors... appeal bla bla bla), OilCorp will be delisted.

****

---

Added on September 25, 2009, 2:48 pmException?

Worse case scenario.
If the Lenders decide to pull the plug and trigger the event of default, immediate payment of interest +principal.

This post has been edited by aurora97: Sep 25 2009, 02:48 PM

some readings by blogger
http://whereiszemoola.blogspot.com/2009/09...-down-once.html

better not put your hard earned money at stake!

put it at other counters which have better financial position

i shall consider this as a BURN... it has been so many years i've been holding off this share.

I really feel sorry for u....

Better to cut loss and switch to counter with better prospects and try to make back there. Under the main market rules, to emerge from PN17 is a long process and even after a company is able to emerge from PN17, the rules applied are more stringent going forward ie Bursa has another set of rules for companies which were previously PN17.

Futhermore, the lender on which Oilcorp defaulted, namely Capone is a CLO which has many other plc's in the basket. If an event of event is called, the other companies in the basket may also be affected depending on the terms of the CLO agreement inter se the companies involved.