I think the KENCANA deal goes like this:

Per 1000 shares you could subscribe to 400 rights and you'd then get 420 bonus shares. So your 1,000 shares would become 1,820. So at RM1.40 per share after RI and bonus shares the pre-rights pre-bonus price should be 2.55. (1.40 X 1.82)

Think that is right.

You have to add in the cost of the rights issue,viz 400 shares at 50 sen.

I am planning to re-enter SAPCRES if and when the market tanks....

On another matter, does anyone think we should be worried about this new Basel rules thingie on Tier 1 capital for banks??  Most Malaysian banks are under-captalised under the new rules I believe.

Just worry they are going to come to the market soon with RI's or raise more capital another way thus affecting the share price.