I just login my FSm
Tropicana remains same
Perpertual 7%....

i just wasap FSM Bond KC no reply.

is ok lah, lagi lambat convert lagi best
pay us stepup rate 9.0%
no problem.


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Yesterday (13th) my CIMB account was credited with 3,645.55 with some reference numbers and description "CIMB Bank Investment". I assume it has something to do with Tropicana bond, the amount seems to be roughly the 0.25% consent fee plus 9% accrued profit (25/9-13/11?) on 250k bond lot, tho I have not calculated it exactly. We untung due to the delay in the issuance of the new sukuk

Did anyone else receive such a credit, and verified the calculations?

This post has been edited by BWassup: Nov 14 2024, 09:49 PM

Yes correct.

{[(49 / 365) * 9% ] + 0.25%} * RM250,000 = RM3 645.55

This post has been edited by contestchris: Nov 15 2024, 12:29 AM

FSM1 hasn't credited it yet tho

No buyers or sellers for either the 6.25% bond or the 9% remnant. Which one would you prefer to buy?

This post has been edited by BWassup: Nov 15 2024, 10:20 AM

Board lot traded today at 101.50.

CIMB RM says the Bank's Bid price atm is around 98 - seems rather low

This post has been edited by BWassup: Nov 15 2024, 06:12 PM

FSM has effected the exchange offer however I didn't receive the accrued coupon for the 9% bond or sweetener of 0.25%. Anyone else got it?

Coupon of 9% and consent fee of 0.25% credited today.

This post has been edited by BWassup: Nov 18 2024, 01:56 PM

yes received fsm abit late
you guys can sell at FSM..
FSM profit RM1.50, take 98.50 sell 100

This post has been edited by guy3288: Nov 21 2024, 02:21 PM

To buy and sell, we can only key in at the asking and bid prices, respectively, i.e. it is for immediate matching? We cannot queue at other prices, e.g. if we wish to "park" to buy lower (unlike stocks)?

And can we key in an amount that is higher that what the asking volume is?

If there are no bid/offer prices, we also cannot key in orders?

This post has been edited by BWassup: Nov 22 2024, 10:08 AM

Yes I already shared that the FSM Bond Express exchange is a scam bond exchange. There are no market bids/asks, merely bid/asks from FSM at their own predetermined prices. If there is no volume on offer by FSM, you cannot buy or sell - this is the case for 90% of their Bond Express bonds.

I'm surprised no one has filed a lawsuit against FSM for the disingenuous marketing of their Bond Express platform.

buy bond yes, you can key in lower price
but need put cash in Account
7days no stocks, you claim back money
all the time cant get it, waste time and effort only


Sell i never tried


Not scam lah
willing buyer willing seller
we dont like we dont take it

is all open and transparent
you get what you see, nothing hidden.


can win meh if you really bring lawsuit?

i think sure lose
reasons:
1)make money in the open not wrong, price as stated
dong forget to get there u got to click agree agree.. so
how to win?

2)FSm buy from seller got risk
cant sell FSM sendiri tanggung
is not like FSM cant sell it off can go ask seller to take back
and return money to FSM


but i support what you asked for
real live trade, we buy direct at the price client sell
but this is not the case now because

FSM team told me they are trying to get approval for that
if can let buyer and seller deal direct ,
then FSM no need take risk sure cheaper lah

For now what we see there for sale is
what FSM has bought up and paid to clients already
cannot sell FSM sendiri tanggung!


so want to make 1.50 nothing wrong there

Dude I'm talking about the Bond Express exchange.



This post has been edited by contestchris: Nov 22 2024, 02:09 PM

I just tested a buy order on BE. The FSM selling price is defaulted, there seems no option to change the price lower.

On full lot of 250k, yes, can set the price we want to buy at.

I agree that FSM will need regulatory approval to allow open market trading but I feel that 1.50% is too much of a spread, as they are already making buying and selling commissions. They are acting as the sole buyer and sole seller, having some ability to dictate pricing, and they also have the option of consolidating their BE holdings and disposing them as full lots outside of this platform. They also have cheap holdings from before the Bond Exchange was proposed.

This post has been edited by BWassup: Nov 22 2024, 05:36 PM

i am talking about the same thing lah
that you called Bond Express EXCHANGE

Fact is there is no (live) Bond exchange.

only a platform where FSM placed its
bonds (purchased from sellers in FSM)
for sale.

big difference there

in live exchange,
the Bursa 'does not own' any of those stocks hanging there for sale
they all belong to buyers and sellers themselves
tumpang there put up for sale

here bonds on sale in Bond express all 'own' by FSM
tak sama


Another analogy
2 platforms buy sell car

A- just provide the space
buyer sellers bring own cars go find clients sell direct
ini live exchange

B-Another 'bought up' all those cars on display,
you go buy there sure more expensive.

no such thing as buy at seller's price here
ini lah FSM Bond Express now!






You views are more grounded than contestchris
wanna bring lawsuit and what not....


Business is like that
if you have been buying bonds in Malaysia
you wont complain RM1.50 expensive



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DJCMK 10.000% Perpetual Corp.

Stepped up from 9.00% on 25 September 2025 due to no call?

Did Tropicana pay the coupon due on 25 September?

Yes, stepped up due to no call.
Yes, coupon was paid in end Sept.

I wonder why Tropicana is not settling the sukuk, or refinancing, instead choosing to pay very high coupon rates, at a time when interest rates have dropped? It's not a huge amount. After all, they have repaid at least one bond this year.

Do you think it's a good buy (subject to availability) for the high yield, since they continue to pay the coupon? They can't afford to default. Sooner or later they will have to redeem no, given the step up coupon each year?

This post has been edited by BWassup: Oct 15 2025, 10:58 PM