Scomi looking good... should go north anytime... any opinion?

these few days hardly budged though

7158 SCOMI SCOMI GROUP BHD
PROPOSED RENOUNCEABLE RIGHTS ISSUE

SCOMI GROUP BHD (SGB OR COMPANY)
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO RM165,669,555 NOMINAL VALUE OF
THREE (3)-YEAR 4% IRREDEEMABLE CONVERTIBLE SECURED LOAN STOCKS (ICSLS) AT 100%
OF ITS NOMINAL VALUE TOGETHER WITH UP TO 220,892,740 FREE DETACHABLE WARRANTS
(WARRANTS) ON THE BASIS OF FIFTEEN (15) RM0.10 NOMINAL VALUE OF ICSLS TOGETHER
WITH TWO (2) FREE WARRANTS FOR EVERY TEN (10) ORDINARY SHARES OF RM0.10 EACH IN
SGB (SGB SHARES) HELD (PROPOSED RIGHTS ISSUE)
We refer to the announcements dated 5 December 2008 and 4 March 2009. On behalf
of the Board of Directors of SGB (Board), CIMB Investment Bank Berhad (CIMB)
wishes to announce a revision to the proposed fund raising exercise that was
announced on 5 December 2008, involving a proposed renounceable rights issue of
up to 554,418,350 new ordinary shares of RM0.10 each in SGB (Rights Shares) for
every two (2) SGB Shares held at an issue price of RM0.30 per Rights Share.
SGB proposes to revise the aforementioned proposed fund raising exercise to a
renounceable rights issue of up to RM165,669,555 nominal value of three
(3)-year 4% ICSLS at 100% of its nominal value together with up to 220,892,740
Warrants on the basis of fifteen (15) RM0.10 nominal value of ICSLS together
with two (2) free Warrants for every ten (10) SGB Shares held on an entitlement
date to be determined and announced later (Entitlement Date).
Further details of the Proposed Rights Issue are set out in the attachment.
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com .


13/08/2009 05:47 PM


Ref Code: 20090813GA00181



What about this RI...will it helps

http://forum.lowyat.net/topic/863957/+80