wat is this mean and affect to the share, good or bad? 
7177           
RIGHTS ISSUE 

LCL CORPORATION BERHAD ("LCL" OR "COMPANY")

RENOUNCEABLE RIGHTS ISSUE OF UP TO 28,917,700 NEW ORDINARY SHARES OF RM0.50
EACH IN LCL (RIGHT SHARES), ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 5 ORDINARY
SHARES OF RM0.50 EACH (LCL SHARES) HELD AFTER THE SHARE SPLIT, AT AN ISSUE
PRICE TO BE DETERMINED (RIGHTS ISSUE)

We refer to the announcements dated 3 March 2008 and 20 August 2008.
On behalf of LCL, CIMB Investment Bank Berhad wishes to announce that the SC
has in its letter dated 16 March 2009 (which was received on 17 March 2009)
approved a further extension of time until 31 August 2009 for the Company to
implement the Rights Issue.
(This announcement is dated 17 March 2009)


17/03/2009  06:14 PM

Perhaps the effects of irrational exuberance from liverpool's 5-0 scoreline last night. Hahaha.

sold into plantation rallies, goodbye KLK

next to go, Bstead.

It just mean investors are still not confidence which there are more retailers compared to fund managers are buying into the market at the moment.

Another point is that I don't see why market should go all the way just with a toxic plan announced. It can help to cure the financial mess, but it is not an instant miracle medicine.

Do company instantly getting lot of orders from overseas because the toxic plan? No
Do people get more job and unpaid leave is cancelled because of toxic plan? No
Do most people (especially electronic related) work 5 days as usual compared to 3/4 days per week because of toxic plan? No
Got OT or operators? No.

They key turning point for the economy and stock market (which usually ahead of economy 6 months or earlier) is job creation and spending power. If you don't create more job and more income which increase the spending power, those goods manufactured by factory has nowhere to go. Eventually corporate profit won't be improving so does stock market which is basically rely on corporate profit level to determine its share price.

Don't get me wrong, the plan is positive for economy and financial market. Just like I said before, the plan is good for financial company shareholders, bad for gov and taxpayers, even if it is a good plan, it is not an instant 100% surely will work.
You know confidence is something a very strange thing, sometimes, it works, sometimes it doesn't, very hard to explain. But destroy it, just matter of split second, or a few event then takes years for re-building.

Basically, the whole world need to build up confidence to spend again but not on leveraged spending just like 2-3 years ago. Now we know previous few years of spending and economy growth especially in US is just a smoke in the air, it is not real, but build on leverage which is not sustainable.
Now we just to go back the rebuilding.

Just wanted to share this.

Read this in the comments section of Yahoo Finance.

"Subject: Economic Solution

This was an article from the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on "How Would You Fix the Economy?"

I thought this was the BEST idea....I think this guy nailed it!

Subject: Economic Solution

Dear Mr.President,

Patriotic retirement: There's about 40 million people over 50 in the work force-pay them $1 million a piece severance with stipulations.

1) They leave their jobs. Forty million job openings - Unemployment fixed.
2) They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.
3) They either buy a house/pay off their mortgage - Housing Crisis fixed. "
  Makes sense haha  except it'll cost trillions. 

all cheering for resorts, me cheering for wan deng!

go go go! gimme 3.70!!!

Can anyone tell me why Zelan never publish Quarterly Income Statement? Security Commissions close 1 eye?

when will be the next meeting to cut the blr rate?

wanna ask something on maybank, why r they issuing the rigths out?

---

Added on March 26, 2009, 2:45 pmto get more $$$$$?

o'rite, sold my Genting finally!

wow i realised that i've been selling for the past 1-week. thanks to the rally!

wahh Genting at 3.80 jor, cantik!!

go go go... ale ale ale! Junior83.. may your dream comes true?

in the rally day... it is usually not the time to buy right? i mean to keep one for some time one.... not for contra play one..

ADD: do u think genting wil touch 4.00 today? 

what is the price u bought?

wah!? how come? is it because of those ppl that bought at 3.2x start to sell for profit?

drop drop drop..i like it when its red

Everyone is out for themselves...
They see they can't sell in 3.9 they put 3.85, then other ppl who want to sell put 3.8 and so on..