Combined soybean inventories in the U.S., Braziland Argentina may total 51 million metric tons by Sept. 1, 5.1 million tons higher than the previous year and the fifth-largest supply for the date, the researcher said. Increasing supplies from the 2014-15 U.S. harvest may boost combined stockpiles in the countries to as much as 154 million tons by December, about 16.7 million tons higher than a year earlier.
“The growth of supplies will finally exceed that of demand, paving the way for a significant recovery of U.S. soybean stocks after three years of declines,” Hamburg-based Oil World said in an e-mailed report. “This is seen as an important factor for the magnitude of a likely further price decline.”
Soybean futures on the Chicago Board of Trade, the global benchmark, have dropped 17 percent in the past year amid prospects that U.S. farmers will harvest a record crop in the next few months following bumper output from South America in the past season. The U.S. crop may rise to a record 103.4 million tons in the 2014-15 season, 16 percent larger than the prior year, the U.S. Department of Agriculture estimates.
On a daily basis, you see the only action in the market is the market rumors, high vol, the jumping of penny stocks.
In stock forums, you see only the majority of postings in penny stocks threads.
In
most markets, penny stocks are usually the last categories of stocks to
move after all others categories of stocks become too expensive to own.
They
(penny stocks) also indicate the correction or bear is coming as during
this final phase, there are usually lots of newbies investors and
punters with irrational behaviour coming into the market for a quick
profit.
有人说，仙股过了就是最后阶段来了。。。对吗？
没有人知道？？？？
。。。。。。。。。。。。
NO EYES SEE...............................................
HIGH 5 是让 老蛇陈志远 心中痛的一个股， 不过， 财富过亿的他， 湿湿碎啦。。。。。。。。。。。。
In a filing to the exchange today, the bread-maker said Bursa Malaysia has decided to dismiss the company's appeal against the rejection of its proposed regularisation plan in early August.
High-5 has still not been able to mend its financials, with over RM37.23 million loss over the nine-month period ended July 31, 2014, as compared to RM38.5 million in the previous corresponding period.
Against the 1st Defendant - A payment of USD22 million; - Pre-judgment interest on USD22 million pursuant to Section 11 of the Civil Law Act 1956 from the date of the Writ of Summons until the date of judgment at an interest rate of 5% per annum; - Post judgment interest on USD22 million pursuant to Order 42 Rule 12 of the Rules of Court 2012 from the date of judgment till full and final settlement thereof at an interest rate of 5% per annum; and - Damages for the breach of the Restated SPA.
Against the 2nd and 3rd Defendants - A payment of USD27 million; - Pre-judgment interest on USD27 million pursuant to Section 11 of the Civil Law Act 1956 from the date of the Writ of Summons until the date of judgment at an interest rate of 5% per annum; - Post judgment interest on USD27 million pursuant to Order 42 Rule 12 of the Rules of Court 2012 from the date of judgment till full and final settlement thereof at an interest rate of 5% per annum; - Damages for fraud and conspiracy; and - General damages, aggravated and exemplary.
Protasco must have filed their version of the chain of events related to the mysterious purchase with the court. These documents (and the possible articles the defence might produce) must contain many interesting details that are still unknown to many at this moment.
Except for this court case, the big question is if the authorities should take further action. The severity of the alleged events seems to suggest that they might have to look into that.
Nexgram, a co related to TPY entered into a Share Sale Agreement with South Venture Holdings Limited, for the acquisition of Four Million and Two Hundred Thousand (4,200,000) ordinary shares of RM1.00 each in Top Symphony Sdn. Bhd. (“TSSB”), representing seventy per cent (70%) equity interest in TSSB for a total cash consideration of Ringgit Malaysia Twenty Four Million and Eight Hundred Thousand (RM24,800,000) only. TSSB has housing project in Fiji.
Real business or another scam?
Why don't you give coverage to this counter. I think can be interesting.
Three independent directors of Nexgram resigned according to announcements on the Bursa website (here, here and here).
The three directors were unanimous in their reason to resign:
"Because of the newspaper report on Protasco Berhad filing legal suit against a director of the Company."
Quite remarkable to give a development in another company as the reason for ones resignation.
The Star published an interesting article regarding this same matter: "More than meets the eye".
"The resignation of three Nexgram Holdings Bhd directors, following a suit by Protasco Bhd against Nexgram founder Tey Por Yee, has raised some eyebrows within industry circles. Observers are questioning the reasons for the directors resigning from Nexgram right away following the suit. The directors in question are Leou Thiam Lai, Ungku Razak Ungku Rahman and Yap Siok Teng. Nexgram, in announcing their resignations to Bursa Malaysia, said that they had resigned “because of the newspaper report on Protasco filing a legal suit against a director of the company”. It, however, did not elaborate. Questions are being raised as to whether there is something else brewing in Nexgram which caused this succession of events."
For the time being it seems Nexgram is "rather light" on independent directors. That however didn't stop the company (listed on the ACE market) from making anotherannouncement, from The Star again:
"Nexgram, which started off as a mobile applications and platform provider, said the proposed acquisition would allow it to “participate in Fiji’s economic development and growth process, which is still currently in the early stages of development” and that the proposed deal would be financed by a combination of internal funds and/or bank borrowings."
I don't immediately see the synergy between a Malaysian based tech company and a Fiji based developer.
Regarding Protasco, an interesting situation seems to be that the company is not taking any steps to remove Tey Por Yee and Ooi Kock Aun as directors, despite filing a legal suit against them for "breach of their fiduciary and statutory duties including the duty to disclose their interest in the transaction, conspiracy to defraud Protasco and the making of secret profit".
Apparently, both Tey and Ooi are still welcome to stay on as directors of Protasco and to join board meetings.
There is quite an interesting web of connections between Protasco, Nexgram and PT Inovisi Infracom Tbk. To be continued.
A new, not completely unexpected, twist in this saga, from The Star website:
Protasco lodges police report against Tey and Ooi over aborted Indonesia O&G deal
Things have taken a turn for the worse between Protasco Bhd and Tey Por Yee with the former lodging a police report over an aborted oil and gas deal on an asset in Indonesia.
Protasco, a construction and property outfit, said in a filing with Bursa Malaysia yesterday that it had lodged a police report against Tey and Ooi Kock Aun – both directors at oil and gas firm PT Anglo Slavic Utama (ASU) following its recent filing of a civil claim against both individuals.
The latest development has put a strain on the relationship between Protasco and Tey who established a partnership in December 2012.
At that time, Protasco had entered into a sale and purchase agreement (SPA) with ASU to buy 76% of its unit PT Anglo Slavic Indonesia (ASI) for US$55mil (about RM180mil).
I assume that Bursa and/or the Securities Commission are on the case as well.
Real business or another scam?
Why don't you give coverage to this counter. I think can be interesting.
An interesting article on Nexgram