I believe FA is more reliable than TA.
FA is based on facts, TA is based on readings that twists & turns the facts but provide you a teeny-wee bit guideline.

should i agree?

education need tuition fees right?

David, some news on Oilcrap

 
3697    OILCORP    OILCORP BHD 
Default in Payment under Practice Note 1/2001 

Oilcorp Berhad (OILCORP or the Company)
-  Default in Payment under Practice Note 1/2001 of the Listing Requirements of Bursa Malaysia Securities Berhad.

The Company wishes to announce that the Company has failed to meet its interest payment of RM1,643,806.85 due and payable on 17 September 2009 in respect of the Facility Agreement dated 9 September 2005 between EON Bank Berhad, CAPONE Berhad and OILCORP (Facility Agreement).

they have money issue huh.

it'll reach your breakeven someday!  holding powarhhh

whoa today regional market aint performaing well even tho dow closed in green on friday.

now DJIA in red, maybe we are spared

or maybe we have double jeopardy on wednesday

Oilcorp probably will sink kau kau due to payment default issue, which 1 million is relative speaking peanut for a company has 900+ milllion under the balance sheet with 400+ million of receivables.

could be the receivables are someone dear & familiar to them

DJIA at 9,800 now

the feels good feeling is getting stronger

i missed KLSE after the two days break, ahh back to work on tomolo!

See it from opposite direction, it means opportunity. 

just matched 200gram of rambutan at 15.100.... more to come below that.... this one is first wave only 

planning to bet on oilcorp .. how u all think? worth a bet?

Waiting to pluck RED rambutan at RM14++

---

Added on September 23, 2009, 4:27 pmBTW, I just bought Fajar at 1.18. Going to hold it for long term.

 

Major shareholders + directors have been dumping their stake ceased become substaintial shareholders + resignation of independent director + default in interest payment + financial result has been showing significant decline over the past 5 years (constantly drop down even though economy is booming and oil price sky-rocketing during 2006-2008 prior before crisis set in) + cashflow difficulty + potential PN17 if the default issue not being resolved.

So above are your bet risk. 

Don't mean discouraging or comment good or bad on it. Judge your own.

PS: The stock can jump if the company resolve the default issue and cashflow issue, but still 1 million default is a relative small sum, it is puzzling and troubling why company default it, this is one of major clue or puzzle that is very important.

Perhaps its caused by the assurance given by the company that its going to pay the interest due, further explaining why they were unable to pay the due is an added plus (to some investors at least) i.e. receipt of "Large Receivables" delayed.

the selling of shares by its major s/hs probably is just a bid to cause panic, wouldnt be suprised if the same ppl (or proxies) came back in at a significantly lower price?

A company that has 400+ mil receivable and 900 million in balance sheet cannot take out a peanut of 1 million loan/OD or any finance facilities to pay off the interest payment? is something I cannot comprehend.

Added.

that said it really depends how the interest payment is structured, whether payable month/quarterly/yearly.

If payable monthly - probably one can be forgiven

If payable yearly - some cause for concern..

than again we are not privy to the facility agreement.

30 days grace period..

So the existing interest of 1m would have to be + default interest + interest accrued to date of payment (4 existing interest) +/- it would probably be more or less balloning up to the region 2m.

that would be interesting..

the interest which is due in Oct 09 will also be falling due (shud be the 17th of each month)..

+/- OilCorp will have to fork out about 4m in interest alone.

S/hers arent going to be too enthusiastic about this.