Stock Market V40, Do you believe in October Myth?
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 Sep 24 2009, 10:36 AM
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Senior Member
3,423 posts Joined: May 2009 From: My Private Yacht 
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Today may be the day to harvest some Rambutan...
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Sep 24 2009, 10:36 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang 
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QUOTE(lklatmy @ Sep 24 2009, 10:31 AM) Generally,PN17 companies are those in financial distress,here are some of the criteria for a main board company to be classified as PN17(GN4 in the case of ACE market): If not mistaken, company doesn't have core business is not in PN17 category, generally, PN17 is for financial difficulty situation one.~company defaulted on loans/interest due, ~shareholders equity less than 25 % of the paid up capital, ~audited account qualified by the auditors as to the company ability to carry on as a going concern or auditor does not express an opinion on the true and fairness of the audited account, ~company has no core business. I am writing without referring to the rules,I stand to be corrected.  While doesn't have core business is not falling into financial difficult, it is like something GNxx. |
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Sep 24 2009, 10:38 AM
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Senior Member
3,423 posts Joined: May 2009 From: My Private Yacht
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QUOTE(cherroy @ Sep 24 2009, 10:36 AM) If not mistaken, company doesn't have core business is not in PN17 category, generally, PN17 is for financial difficulty situation one. Interesting...do you happen to know what generally happens to PN17 companies? I mean - do some of them recover or is it effectively just a prelude to being de-listed?While doesn't have core business is not falling into financial difficult, it is like something GNxx. |
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Sep 24 2009, 10:50 AM
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Senior Member
3,790 posts Joined: Aug 2007 
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OilCorp falls under MAIN Market listing rules.
Posted is PN - 17 just to clear all the doubts. Added on September 24, 2009, 10:55 am QUOTE(cherroy @ Sep 24 2009, 10:36 AM) If not mistaken, company doesn't have core business is not in PN17 category, generally, PN17 is for financial difficulty situation one. There are two types of listing requirements rules..While doesn't have core business is not falling into financial difficult, it is like something GNxx. PN = main market GN = ace market Listing Requirements This post has been edited by aurora97: Sep 24 2009, 11:00 AM Attached File(s) 
bm_main_pn17.pdf ( 53.87k )
Number of downloads: 12 |
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Sep 24 2009, 10:58 AM
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Senior Member
3,790 posts Joined: Aug 2007
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Sep 24 2009, 11:01 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(David_Brent @ Sep 24 2009, 10:38 AM) Interesting...do you happen to know what generally happens to PN17 companies? I mean - do some of them recover or is it effectively just a prelude to being de-listed? Some do recover, some delisted.If the company balance sheet (its asset indeed valuables and receivables are able to recover) indeed strong, just facing cashflow and liquidity problem, then company can still restructure for revival. But for those weak company, weak balance sheet, then little way out only. |
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Sep 24 2009, 11:03 AM
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Senior Member
1,470 posts Joined: Jun 2005 From: Securities Industry
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QUOTE(cherroy @ Sep 24 2009, 10:36 AM) If not mistaken, company doesn't have core business is not in PN17 category, generally, PN17 is for financial difficulty situation one. While doesn't have core business is not falling into financial difficult, it is like something GNxx. QUOTE(aurora97 @ Sep 24 2009, 10:50 AM) OilCorp falls under MAIN Market listing rules. Cherroy,base on the rule itself as posted by aurora97,company without core business does fall under PN17,part g.Posted is PN - 17 just to clear all the doubts. Added on September 24, 2009, 10:55 am There are two types of listing requirements rules.. PN = main market GN = ace market Listing Requirements If the company is a main board company ,then PN17 applies,If ACE market,then GN4. This post has been edited by lklatmy: Sep 24 2009, 11:09 AM |
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Sep 24 2009, 11:07 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(lklatmy @ Sep 24 2009, 11:03 AM) Cherroy,base on the rule itself as posted by aurora97,company without core business does fall under PN17,part g. OK, thanks for the correction.  I taught PN17 for financially distress only. Thanks aurora97 for the updating. |
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Sep 24 2009, 11:08 AM
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Junior Member
263 posts Joined: Jan 2009 From: Penang
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few days ago i saw someone post hong leong future free 20 contract promotion?
Can someone give me the link to it? and what is the offer until? |
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Sep 24 2009, 11:11 AM
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Senior Member
3,790 posts Joined: Aug 2007
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QUOTE(cherroy @ Sep 24 2009, 11:07 AM) OK, thanks for the correction. actually default of payment pursuant to 2.1(f) [ cross refer with PN 1] is the most common, in actual fact PN 17 captures a whole variety of events. I taught PN17 for financially distress only. Thanks aurora97 for the updating. |
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Sep 24 2009, 11:14 AM
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Senior Member
8,510 posts Joined: Dec 2004 From: KayEL
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let's punt OilCorp @ 15c
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Sep 24 2009, 11:15 AM
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Senior Member
7,176 posts Joined: Dec 2006 From: Kuching
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why not 10cent!
 QUOTE(zamans98 @ Sep 24 2009, 11:14 AM) let's punt OilCorp @ 15c |
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Sep 24 2009, 11:17 AM
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Senior Member
4,305 posts Joined: Sep 2008
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QUOTE(chyaw @ Sep 24 2009, 11:15 AM) why not 10cent! How about 5? |
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Sep 24 2009, 11:36 AM
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Senior Member
3,423 posts Joined: May 2009 From: My Private Yacht
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QUOTE(htt @ Sep 24 2009, 11:17 AM) How about 5? Just wondering whether I should average down....   |
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 Sep 24 2009, 11:37 AM
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Junior Member
412 posts Joined: Jul 2009 From: Melaka 
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QUOTE(htt @ Sep 24 2009, 11:17 AM) How about 5? I feel bad for David though... |
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Sep 24 2009, 11:37 AM
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Senior Member
7,176 posts Joined: Dec 2006 From: Kuching
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That will be even better.
 Anyway, no cash to play... Unless I sell my profitable counters to buy this PN17 counter.  QUOTE(htt @ Sep 24 2009, 11:17 AM) How about 5? |
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Sep 24 2009, 11:41 AM
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Senior Member
713 posts Joined: Mar 2005
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QUOTE(David_Brent @ Sep 24 2009, 11:36 AM) Just wondering whether I should average down.... how many biji u holding ? |
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Sep 24 2009, 11:44 AM
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Senior Member
1,470 posts Joined: Jun 2005 From: Securities Industry
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Personally,I won't touch this counter Oilcorp due to the uncertainties in it's future.
Yes,you may make a lot but there is also a chance of total loss. No intention to hinder anyone from making money.Don't be influenced and please make your own decision. |
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Sep 24 2009, 11:47 AM
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Junior Member
225 posts Joined: Dec 2008
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QUOTE(skylands @ Sep 24 2009, 11:41 AM) how many biji u holding ? I also one of the victim.But lucky thing is I sell off at RM0.265 yesterday...I bought this counter at RM0.31. Lose a bit but better than holding it till now... My Msports and IRCB still in bloodd....  |
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Sep 24 2009, 11:48 AM
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Senior Member
3,790 posts Joined: Aug 2007
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is OilCorp worth it?
+ve Assumptions 1. LARGE Receivables will be recived to pay of Sep/Oct defaulted interest. 2. Bursa accepts OilCorps regulation plan. 3. Lenders gives the grace period requested. 1 & 3 will be most crucial to OilCorps survival. its a gamble with many possibilities and outcome. either total loss or profit, only ppl in oilcorp will know. This post has been edited by aurora97: Sep 24 2009, 11:52 AM |
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