Author Topic: Coastal  (Read 43662 times)

Offline throwerw

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Re: Coastal
« Reply #100 on: July 23, 2011, 01:40:44 AM »
Could somebody explain why Coastal paid no tax in the last two years?  Will this continue in the future?

Offline idzuari

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Re: Coastal
« Reply #101 on: July 23, 2011, 08:09:31 AM »
Could somebody explain why Coastal paid no tax in the last two years?  Will this continue in the future?

where got such information. financial report?
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Offline zuolun

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Re: Coastal
« Reply #102 on: July 23, 2011, 12:20:48 PM »
But if the company decided to do the share-buy-back-program, will they announce to the public prior to that?

The share Buy-Back program was approved by shareholders at the last EGM dated 26 May 2011; Coastal management will make an official announcement to the public after they had bought the company's share on the open market not prior to that.

Offline idzuari

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Re: Coastal
« Reply #103 on: July 23, 2011, 12:51:27 PM »
The share Buy-Back program was approved by shareholders at the last EGM dated 26 May 2011; Coastal management will make an official announcement to the public after they had bought the company's share on the open market not prior to that.

This is great news. eps will increase even if profit remain.
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline throwerw

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Re: Coastal
« Reply #104 on: July 23, 2011, 01:17:07 PM »
where got such information. financial report?

Yes, the financial report.  It does not offer much explanation, only this:

"Effect of different tax rates in other jurisdictions," which cancels out all taxes due.

Offline zuolun

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Re: Coastal
« Reply #105 on: July 23, 2011, 01:32:50 PM »
What is the purpose of Coastal's recent corporate event?

The issuance of Bonus Shares, free Warrants and the share Buy-Back program are strategic moves of the company to improve the liquidity or trading volume of its shares on the open market. The approved share Buy-Back program will increase the no. of shares but decrease the company's cashflow. With warrants issued at 60,408,667 units Vs the Share Buy-Back at 54,367,800 shares, it's advantages to Coastal if the share Buy-Back is done at a steep discount against the warrant's exercise price at RM 3.18 per share (60,408,667 Warrants X RM 3.18 = RM 192,099,561).

The 1-for-3 Bonus Issue (120,817,333 new shares) is to enlarge the no. of shares; it doesn't change the value of shares held by existing shareholders unless they take profit when the price is right.

1.  Total no. of shares: 483,269,333 (362,452,000 shares + 120,817,333 bonus shares).

The 1-for-8 free Warrants Issue is beneficial to Coastal in monetary term when it's exercised into new share at RM 3.18 per share within 5 years by 14 July 2016.

2.  Total no. of shares enlarged by warrants: 543,678,000 (483,269,333 shares +  60,408,667 Warrants ).

3.  No. of Share Buy-Back approved: 54,367,800 (10% of 543,678,000 shares).

Note: Coastal is cash-rich with net cash and bank balances at RM 188 million as at 31st Mar 2011.

Offline ConFake

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Re: Coastal
« Reply #106 on: July 23, 2011, 02:17:38 PM »
RM 188 million is not much for a listed company. 1 share give RM1 also not attractive.

Offline ConFake

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Re: Coastal
« Reply #107 on: July 23, 2011, 02:20:39 PM »
Apple cash: US$60 bil +  (RM180 billion) which is 1000 times of Costal.

Offline Edwin Extreme

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Re: Coastal
« Reply #108 on: July 23, 2011, 02:36:28 PM »
Coastal in good trend. Let hope it will shoot up more..

ttp://edwinextremebullrun.~.com

Offline Dorky

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Re: Coastal
« Reply #109 on: July 23, 2011, 02:40:47 PM »
These days companies no longer boost their share price through economic growth and innovation.
Instead, they boost their share price through share deals like buybacks, bonus issues, rights issue, stock split, reverse split, warrants, etc.
All of these deals have no fundamental value or basis.
This is a strong signal that the company is already  :thumbsdown: :thumbsdown: :thumbsdown:
Buy, sell, up, down, gain, gain.

Offline idzuari

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Re: Coastal
« Reply #110 on: July 23, 2011, 02:58:53 PM »
 a good company will show increasing revenue & profit. a healthy company has a lot of cash & low liability.
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline ConFake

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Re: Coastal
« Reply #111 on: July 23, 2011, 03:08:15 PM »
a good company will show increasing revenue & profit. a healthy company has a lot of cash & low liability.

Yes, the former is called growth and the latter is called value. They are both important.

Just make sure you are not iPad (follow the crowd) kind of person.  :D

Offline zuolun

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Re: Coastal
« Reply #112 on: July 23, 2011, 03:11:53 PM »
Coastal's transaction data (4 July 2011 to 22 July 2011)

Date        Open  High   Low  Close  Volume

20110722 2.520 2.540 2.490 2.530 613,900
20110721 2.480 2.480 2.430 2.480 462,900
20110720 2.420 2.480 2.420 2.470 676,600
20110719 2.390 2.390 2.340 2.380 716,000
20110718 2.450 2.470 2.350 2.380 930,300

20110715 2.610 2.610 2.440 2.450 984,100
20110714 2.690 2.710 2.600 2.610 536,000
20110713 2.700 2.752 2.685 2.715 2,511,067
20110712 2.700 2.700 2.685 2.700 1,129,067
20110711 2.715 2.715 2.692 2.708 1,054,133

20110708 2.685 2.715 2.685 2.715 852,933
20110707 2.708 2.708 2.678 2.678 692,933
20110706 2.715 2.730 2.692 2.708 1,287,867
20110705 2.692 2.715 2.692 2.708 1,260,533
20110704 2.730 2.745 2.685 2.685 2,245,867

Offline ConFake

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Re: Coastal
« Reply #113 on: July 23, 2011, 03:24:42 PM »
These days companies no longer boost their share price through economic growth and innovation.
Instead, they boost their share price through share deals like buybacks, bonus issues, rights issue, stock split, reverse split, warrants, etc.
All of these deals have no fundamental value or basis.
This is a strong signal that the company is already  :thumbsdown: :thumbsdown: :thumbsdown:

Apple gave a lots of headaches to Nokia, Sony Ericsson, LG, Blackberry, Motorola, Garmin (iphone GPS accuracy), Microsoft, Google (Facebook indirectly), Intel and its suppliers, AMD and its suppliers, DELL, HP, Toshiba, Western Digital/Seagate (due to SSD hype), Borders, Amazon (Kindle), Asus, Gigabyte, MSI, Nvidia, Circuit City (Apple Store Hype divert customers), ...

Canon, Nikon, Olympus, .. are also affected as people use iphone to take photos nowadays. Due to the price of iphone, most people won't buy another camera to do the job.

Actually the RM180 billion cash came from sales that supposed to go to these companies and indirectly caused the unemployment to rate to go up due to its controlled OEM and closed software policy.




http://finance.yahoo.com/family-home/article/113185/world-without-apple-mainstreet;_ylt=AuB9GETIQN_aiTkwXVrM9S5O7sMF;_ylu=X3oDMTE5bTZvbW9oBHBvcwM5BHNlYwN3ZWVrZW5kRWRpdGlvbgRzbGsDd2hhdGF3b3JsZHdp

 

Offline zuolun

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Re: Coastal
« Reply #114 on: July 23, 2011, 03:41:13 PM »
Coastal is like a sleeping beauty awaiting for Prince Charming to kiss and wake her up. Her share price ever shot up > 30% when a bankrupt Prince called Ramunia walked passed her.  :P   :P   :P

O&G sector to see more M&As?
 
10 January 2011

KUALA LUMPUR – This year is poised to be an exciting one for local oil and gas (O&G) players on the back of improving prospects as crude oil prices continue to rise, with observers saying this could also mean more mergers and acquisitions (M&A) within the sector. Local analysts have been forecasting that this year will see several major trends, including bigger orderbooks and tenders in the pipeline, strategic partnerships being announced and more corporate exercises including mergers, takeovers and capital-raising activities taking place.

Local analysts have been forecasting that this year will see several major trends, including bigger orderbooks and tenders in the pipeline, strategic partnerships being announced and more corporate exercises including mergers, takeovers and capital-raising activities taking place.

News of oil major Petroliam Nasional Bhd (Petronas) opening up marginal oilfields to niche players, as well as five new tax incentives to encourage domestic exploration activities created some excitement in the market, with many O&G counters seeing increased investor attention.

The exploration activities are set to benefit hook-up and commissioning (HUG) job players such as Sapura-Crest Petroleum Bhd, Kencana Petroleum Bhd and Petra Energy Bhd, as well as fabrication yard operators who are also poised for a consolidation, according to UOBKayHian.

"Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) yard in Johor is currently operating at full capacity, and additional yard capacity and size would fuel its growth7 it said in its January 2011 strategy report.

"MMHE could be looking into Sime Darby’s assets or even other Petronas-licensed smaller fabrication yards that are less well run, such as Oilcorp Bhd which is facing solvency issues’ Maybank Investment Bank Research reiterated the view, saying it expected the number of offshore fabricators to contract to two from six at present.

"We think MMHE, 65% held by MISC Bhd and ultimately Petronas, will be an acquirer. Ramunia and Sime Engineering, 100%-owned by Sime Darby are the likely targets," it said.

"In addition, we foresee new assets/businesses being injected into Ramunia and Scomi Marine, both PN 17 counters (i.e. cash rich, but without a core business)."

The Edge Financial Daily last week reported that Ramunia Holdings Bhd is said to be eyeing Borcos Shipping Sdn Bhd, which provides offshore supply services for the O&G sector, as part of its regularisation plan.

In addition to fabricators, Maybank IB Research also highlighted several marine vessel operators as potential acquisition targets, namely Alam Maritim Resources Bhd, Petra Perdana Bhd and Tanjung Offshore Bhd, as well as private limited offshore support vessel provider Jasa Merin (M) Sdn Bhd, whose parent company is SILK Holdings Bhd.

"These operators have undemanding valuations but stretched balance sheets with high gearing levels, which complicate their growth prospects," it said in a Jan 7, 2011 note.

The brokerage firm also highlighted that cash-rich SapuraCrest could be keen on acquiring marine vessels as a strategic asset to complement its installation of pipeline and facilities (IPF) operations.

UOBKayHian had also highlighted SapuraCrest’s eligibility as a potential M&A target, due to its ability to fund its expansion plans easily across the entire O&G upstream value chain.

Another possible acquirer could be Ekuiti Nasional Bhd (Ekuinas), as it may be looking to accelerate consolidation among bumiputera marine vessel owners, according to Maybank IB Research, saying it is likely to start with Tanjung Offshore, in which it has a 24% equity interest.

"The key driver of consolidation in this sector by Ekuinas is to create a stronger entity both in terms of size and financials,” an analyst told The Edge Financial Daily. “At present, most vessel players are highly geared with limited room for expansion."

Meanwhile, market speculation had also recently surfaced that Alam Maritim Resources Bhd could be in the preliminary stages of exploring a working relationship with Coastal Contracts Bhd.

An industry source told The Edge Financial Daily that the partnership could prove promising as there did not appear to be an overlap in their businesses.

Alam Maritim is primarily involved in the supply of offshore supply vessels for the O&G sector as well as underwater services. Meanwhile, Coastal is a Sandakan-based company whose areas of business include vessels manufacturing and chartering.

"Catalysts for cooperation include Coastal’s fabrication shipyard and the Sabah connection, while Alam Maritim has been said to be game for strategic tie-ups,” the source said. “Main issues would be pricing and control of management."

Maybank IB Research also highlighted upcoming high-impact projects in Sabah, including the Sabah Oil and Gas Terminal, Sabah-Sarawak Gas Pipeline, Sipitang O&G Industrial Park as well as Petronas Chemicals Group Bhd’s ammonia and urea plants.

It is worth noting that pilgrim fund Lembaga Tabung Haji (LTH) is a common shareholder in both Coastal and Alam Maritim, albeit with non-controlling stakes.

LTH has 72.56 million shares in Alam Maritim, representing a 9.29% stake, while it has 18.2 million shares in Coastal, representing a 5.02% equity interest.

Alam Maritim has been seeing heightened buying interest since early December 2010. It ended trade higher last Friday to RM1.09 with 7.53 million shares done, while Coastal closed one sen lower to RM2.37 with 199,800 shares transacted.


Offline idzuari

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Re: Coastal
« Reply #115 on: July 23, 2011, 04:00:35 PM »
coastal profit doesn't stop grow for the past 10 years. even prince charming have to queue for her  :P
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline zuolun

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Re: Coastal
« Reply #116 on: July 23, 2011, 06:17:48 PM »
The Matthew effect

In sociology, the Matthew effect (or accumulated advantage) is the phenomenon where "the rich get richer and the poor get poorer". Those who possess power and economic or social capital can leverage those resources to gain more power or capital. The term was first coined by sociologist Robert K. Merton in 1968 and takes its name from a line in the biblical Gospel of Matthew:

For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away. —Matthew 25:29, New Revised Standard Version.

If a retail investor bought 1000 Coastal shares at RM 1,600 at IPO price on 13 August 2003 and hold onto it for eight (8 ) years; what is the returns of the 1000 Coastal shares at current share price at RM 2.53 per share, excluding the dividends?  ;)   

8/2003 IPO Price RM 1.60
08/2004 First and Final Dividend     (8 sen per share less 28% income tax)
11/2004 Subdivision of Shares     (RM1.00 Split Into RM0.20)
08/2005 First and Final Dividend     (6% less 28% tax)
08/2006 First and Final Dividend     (3.9% less 28% tax and 2.1% tax exempt)
08/2007 First and Final Dividend     (1.4% less 27% tax and 8.6% tax exempt)
08/2008 First and Final Dividend     (12% tax exempt)
08/2008 Special Dividend               (5.5% tax exempt)
08/2009 First and Final Dividend     (12% comprising a 4.5% tax exempt dividend and a 7.5% single-tier dividend)
08/2009 Special Dividend               (3% tax exempt)
08/2010 First and Final Dividend     (12% tax exempt)
08/2010 Special Dividend               (13% tax exempt)
04/2011 Interim Dividend               (27.5% tax exempt dividend)
07/2011 1-for-3 Bonus Issue
07/2011 1-for-8 free Warrant

Offline zuolun

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Re: Coastal
« Reply #117 on: July 23, 2011, 06:43:04 PM »
coastal profit doesn't stop grow for the past 10 years. even prince charming have to queue for her  :P

Coastal's management and staffs have never stopped growing the company for the past 8 years since listing on Aug 2003. Being the major SSHs with 62%, Ng Chin Heng & family have been creating superb value for themselves and their shareholders.

While awaiting for the right Prince Charming to kiss and wake her up, Coastal remains a great and beautiful sleeping beauty. :P
 
Coastal's Major Substantial Shareholders:
1.  Ivory Asia Sdn. Bhd - Ng Chin Heng & family
    (Indirect/Deemed Interests (as at 7th April 2011): 62%
2.  Rickoh Corporation Sdn Bhd (AR2010): 4.14%
3.  Koon Yew Yin (as at 2011): 3.4%

Offline idzuari

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Re: Coastal
« Reply #118 on: July 23, 2011, 11:30:30 PM »
Coastal's management and staffs have never stopped growing the company for the past 8 years since listing on Aug 2003. Being the major SSHs with 62%, Ng Chin Heng & family have been creating superb value for themselves and their shareholders.

While awaiting for the right Prince Charming to kiss and wake her up, Coastal remains a great and beautiful sleeping beauty. :P
 
Coastal's Major Substantial Shareholders:
1.  Ivory Asia Sdn. Bhd - Ng Chin Heng & family
    (Indirect/Deemed Interests (as at 7th April 2011): 62%
2.  Rickoh Corporation Sdn Bhd (AR2010): 4.14%
3.  Koon Yew Yin (as at 2011): 3.4%


 :thumbsup: substantial family shareholder. means trustable management. their own money on stake.
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline zuolun

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Re: Coastal
« Reply #119 on: July 23, 2011, 11:41:35 PM »
Yes, the financial report.  It does not offer much explanation, only this:

"Effect of different tax rates in other jurisdictions," which cancels out all taxes due.

Coastal Marine Pte. Ltd. (Singapore) is a wholly owned subsidiary of Coastal Contracts Bhd.

New tax pact to bolster Singapore-Saudi trade relations

July 15, 2011

Yesterday, Singapore’s Ministry of Trade and Industry (MTI) announced a new Avoidance of Double Taxation Agreement (DTA) that is set to enhance bilateral trade between the country and the Kingdom of Saudi Arabia (KSA). The DTA, which came into effect early this month, eliminates the duplication of tax payments for Singapore and KSA enterprises operating in either economies. MTI anticipates that the agreement will not only strengthen existing trade and investment relations but encourage a healthy inflow of new businesses between both economies as well.

Prior to the implementation of the DTA, Singapore and KSA companies faced double taxation in cross border trade and investments. For example, companies operating in either economies were subject to 15% royalty rates in KSA as well as 15% interest taxation in Singapore. Additionally KSA’s capital gains tax was 20%, subject to shareholding requirements.

Under the new DTA, companies in both economies will instead enjoy tax reliefs on income earned in either countries as well as earn tax credits on taxes paid and dividends remitted to either countries. For example, KSA’s capital gains tax were to 15% and companies from both economies were exempt from taxation on profits gotten from the operation of shipping and air transport in international traffic. Withholding tax on dividends, interest and royalties were also reduced to 5%, 5% and 8% respectively.

Therefore, entrepreneurs who wish to set up a Singapore LLC can stand to rake in significant benefits from the implementation of the DTA. Singapore enterprises dealing in real estate, transportation, logistics and infrastructure in KSA will benefit the most. KSA-based oil & gas, financial services, airline and manufacturing companies doing business in Singapore are set to benefit as well.

Singapore subsidiary companies as well as Singapore offshore companies will also benefit from the Free Trade Agreement signed between the Gulf Cooperation Council and Singapore in December 2008. Last year, the GCC-Singapore FTA has resulted in a 27.8% y-o-y growth in bilateral trade amounting to S$43.2 billion. Between KSA and Singapore, bilateral trade rose from S$12.8 billion in 2009 to S$16.4 billion in 2010, representing a healthy 28.1%  y-o-y growth. The growth continued well into the first five months of this year.  Bilateral trade between KSA and Singapore this year registered a whopping 42.1% y-o-y growth, estimated at S$9.1 billion. Both economies are however keen to bolster their economic ties further. The implementation of the DTA along with the review of the GCC-Singapore FTA are testament to a mutual commitment to maintaining a highly-competitive and vibrant business ecosystem for enterprises on either economies and for the long term.

KSA is not only Singapore’s largest trading partner in the Middle East; it is also World Bank’s 11th easiest place to do business. The implementation of the DTA will only open up more opportunities and present big tax cuts for Singapore-incorporated companies that wish to venture into KSA’s thriving oil & gas, financial services, manufacturing and aviation sectors. Other than offering a stable and vibrant economic environment, Singapore offers an added bonus in the form of an absence of capital gains tax. Altogether, these factors add to a confidence that bilateral trade between the two economies will prosper and that enterprises that choose to participate in it will stand to be considerably rewarded.

Offline zuolun

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Re: Coastal
« Reply #120 on: July 24, 2011, 12:10:34 AM »
Excerpt from HwangDBS's review on Coastal dated 25 May 2011:

Vessel Chartering

Coastal plans to form a separate subsidiary to consolidate its
vessel chartering operations, where it would build its own
fleet of offshore vessels and contract them out to teams of
operators to manage their respective businesses. The
chartering segment will be open to international markets,
with the possibility of the group’s vessels using foreign flags
to identify themselves. The subsidiary is not expected to be
in full operation in the near future, and capex will be
invested over time. However, it is believed that this
subsidiary has been formed in Singapore to take advantage
of tax free incentives in the OSV industry.

Offline idzuari

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Re: Coastal
« Reply #121 on: July 24, 2011, 01:10:26 AM »
 :clap:

Excerpt from HwangDBS's review on Coastal dated 25 May 2011:

Vessel Chartering

Coastal plans to form a separate subsidiary to consolidate its
vessel chartering operations, where it would build its own
fleet of offshore vessels and contract them out to teams of
operators to manage their respective businesses. The
chartering segment will be open to international markets,
with the possibility of the group’s vessels using foreign flags
to identify themselves. The subsidiary is not expected to be
in full operation in the near future, and capex will be
invested over time. However, it is believed that this
subsidiary has been formed in Singapore to take advantage
of tax free incentives in the OSV industry.

Doesn't matter bullish or bearish. Be happy & keep learning.

Offline idzuari

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Re: Coastal
« Reply #122 on: July 24, 2011, 08:58:38 AM »
if next week coastal share price is a gain, macd line will cross signal line from below. strong buy signal.  :clap:
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline zuolun

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Re: Coastal
« Reply #123 on: July 24, 2011, 10:18:48 AM »
What is the purpose of Coastal's recent corporate event?

The issuance of Bonus Shares, free Warrants and the share Buy-Back program are strategic moves of the company to improve the liquidity or trading volume of its shares on the open market. The approved share Buy-Back program will increase the no. of shares but decrease the company's cashflow. With warrants issued at 60,408,667 units Vs the Share Buy-Back at 54,367,800 shares, it's advantages to Coastal if the share Buy-Back is done at a steep discount against the warrant's exercise price at RM 3.18 per share (60,408,667 Warrants X RM 3.18 = RM 192,099,561).

The 1-for-3 Bonus Issue (120,817,333 new shares) is to enlarge the no. of shares; it doesn't change the value of shares held by existing shareholders unless they take profit when the price is right.

1.  Total no. of shares: 483,269,333 (362,452,000 shares + 120,817,333 bonus shares).

The 1-for-8 free Warrants Issue is beneficial to Coastal in monetary term when it's exercised into new share at RM 3.18 per share within 5 years by 14 July 2016.

2.  Total no. of shares enlarged by warrants: 543,678,000 (483,269,333 shares +  60,408,667 Warrants ).

3.  No. of Share Buy-Back approved: 54,367,800 (10% of 543,678,000 shares).

Note: Coastal is cash-rich with net cash and bank balances at RM 188 million as at 31st Mar 2011.

If short-sellers managed to whack the price down sharply to RM 2.34 (-0.37, -13.65%) with < 5 million shares or 1.03% of the total 483.2 million shares ex-bonus; the reverse is possible if the company  support-buy and stablizes the share price with the same volume of shares via the share Buy-Back program.

Example:

Share buy-back of 5 million shares or > 1% of the 54,367,800 shares approved;

5,436,780 shares X RM 2.53 = RM 13,755,053 (7.32% of RM 188 million).

It's not whether net cash and bank balances at RM 188 million is alot or little for a listed company, the emphasis is that Coastal has Strong Cash Flow, which indicates that the company has the financial means to support/stablize the share price if precipitated by distress selling.

Offline zuolun

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Re: Coastal
« Reply #124 on: July 24, 2011, 01:25:19 PM »
Listing Information & Profile
Reference No OI-110722-50125 

Submitting Merchant Bank : OSK INVESTMENT BANK BERHAD 
Company Name : COASTAL CONTRACTS BHD
Stock Name : COASTAL 
Date Announced : 22/07/2011 

Instrument Type : Warrants
Description : Warrants 2011/2016 issued pursuant to the issue of free warrants on the basis of one (1) warrant for every eight (8) ordinary shares of RM0.20 each in COASTAL held after the bonus issue of new ordinary shares
 
Listing Date : 25/07/2011 
Issue Date : 19/07/2011
Issue/ Ask Price : MYR 0.0000
Issue Size Indicator : Unit
Issue Size in Unit : 60,408,667
Maturity Date : 18/07/2016
Revised Maturity Date :  Exercise/ Conversion Period : 5.00 Year(s)
 
Revised Exercise/ Conversion Period : 0.00   
 
Exercise/Strike/Conversion Price : MYR 3.1800
Revised Exercise/Strike/Conversion Price : MYR 0.0000
Exercise/ Conversion Ratio : 1 Warrant: 1 ordinary share of RM0.20 each
Revised Exercise/ Conversion Ratio : 
Mode of satisfaction of Exercise/ Conversion price : Cash
Settlement Type/ Convertible into : Physical (Shares)

Remarks :
The Warrants are issued to the entitled shareholders of Coastal Contracts Bhd (“COASTAL”) on the basis of one (1) Warrant for every eight (8) ordinary shares of RM0.20 each in COASTAL (“Share(s)”) held after the bonus issue of new Shares (“Bonus Share(s)”) on the basis of one (1) Bonus Share for every three (3) Shares held.

Each Warrant carries the entitlement to subscribe for one (1) new Share at the exercise price (as indicated above) and at any time during the exercise period (as indicated above) (“Exercise Period”), subject to the adjustments in accordance with the provisions of the deed poll dated 14 July 2011, constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose.

This announcement is dated 22 July 2011. 
 

Offline idzuari

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Re: Coastal
« Reply #125 on: July 24, 2011, 01:32:42 PM »
If short-sellers managed to whack the price down sharply to RM 2.34 (-0.37, -13.65%) with < 5 million shares or 1.03% of the total 483.2 million shares ex-bonus; the reverse is possible if the company  support-buy and stablizes the share price with the same volume of shares via the share Buy-Back program.

Example:

Share buy-back of 5 million shares or > 1% of the 54,367,800 shares approved;

5,436,780 shares X RM 2.53 = RM 13,755,053 (7.32% of RM 188 million).

It's not whether net cash and bank balances at RM 188 million is alot or little for a listed company, the emphasis is that Coastal has Strong Cash Flow, which indicates that the company has the financial means to support/stablize the share price if precipitated by distress selling.

coastal report rm56.8mil net cash against rm161.3 mil profit last fy. rm0.11 net cash per share. compare with fimacor rm 0.75 net cash per share. i don't think cash flow is coastal's strong point. maybe high ROE.  :nod:
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline tedbeh

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Re: Coastal
« Reply #126 on: July 24, 2011, 01:59:55 PM »
May I know how much will be the warrant listing price tomorrow? Thanks

Offline zuolun

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Re: Coastal
« Reply #127 on: July 24, 2011, 04:19:14 PM »
Inventories
Inventories are stated at lower of cost and net realisable value. The cost of raw materials and
spare parts are determined using the weighted average method.  The cost of raw materials
comprises costs of purchase. The cost of finished goods and work-in-progress are determined
using specific identification of their individual costs.  The costs of finished goods and work-in-progress
comprise costs of raw materials, direct labour, other direct costs and appropriate proportions of
manufacturing overheads based on normal operating capacity. Net realisable value is the estimated
selling price in the ordinary course of business less the estimated costs of completion and the
estimated costs necessary to make the sale.

What is “Build and Sell” strategy?
Coastal is adopting a “Build and Sell” strategy which differs from other industry players
that build on contract basis such as Sealink. After having a discussions with Coastal’s
management, we notice the emergence of this strategy was due to the long lead-time for
the delivery of marine engines during 2006 and 2007. According to the management, if they
were to wait until they secure buyer’s order first then only source for the critical yard space and
machine, there is a risk that the different delivery timelines will mismatch. Thus, the “Build and
Sell” strategy has allowed the company to overcome the challenges associate with delivery
interface and able to secure orders from customers who require shorter time-to-delivery.
On the flip-side, we also realise that a prolonged slow down in the demand or oversupply of
OSVs will likely to lead to higher than expected stock-up and putting pressure on the working
capital management. However, the risk is mitigated by: 1) 30% of upfront payment from the
vessels buyers and 2) expected greater demand in OSVs due to the increase in deepwater
exploration activities.




Offline zuolun

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Re: Coastal
« Reply #128 on: July 24, 2011, 04:49:05 PM »
Feeling the heat on debt, earnings

By Edward Krudy
Fri Jul 22, 2011 6:20pm EDT

NEW YORK (Reuters) - New York City may be frying in near record temperatures but Wall Street has been feeling the heat for months. Wrangling over the debt ceiling and questions marks over corporate earnings mean markets are unlikely to get a break any time soon.

Wall Street is set to close its worst three months in a year as July draws to a close next week after a roller coaster ride for markets. Whacked out fund managers hitting the beach in August may find themselves fiddling with their BlackBerrys more than the little umbrella in their cocktails.

"I need a vacation, man. After all the stuff that's happened in the last three months I'm pretty much shot, I'm getting weird, even my six-year-old looks at me," said one New Jersey-based fund manager, who was packing his bags for a destination in the Caribbean as temperatures topped 100 degrees Fahrenheit in New York City.

With euro zone leaders having reached a deal for yet another bailout for debt-laden Greece, investors will be free to chew over the rancor in Washington with even more attention.

Negotiations between President Barack Obama and the top Republican in the House of Representatives, John Boehner, still looked far from a deal to avert a looming U.S. default, lawmakers said on Friday, raising the likelihood of more volatility next week if no solution is reached over the weekend.

"It's likely an agreement in any form will cause a relief rally for equities," said Glenn Starkman, global head of sales trading at Dahlman Rose in New York.

"Coming on the heels of overall pretty good earnings numbers and some sort of resolution in Greece and that could make for a rally in the market," he said.

But on the other side of the coin, the prolonged and partisan dispute over solving the country's debt crisis means there is still a big downside risk.

"Who knows where that is going to go," said Nick Kalivas, an analyst at MF Global in Chicago. "We're vulnerable to a buyers' strike if we don't get any news."

In addition, the corporate earnings season suggests other risks could dog the market. Despite generally good results so far, there have been some worrisome signs. The S&P 500 rallied 6 percent in the run-up to reporting season, but earnings misses from big industrial names like Rockwell Collins and Caterpillar Inc weighed on the Dow and S&P 500 on Friday.

Earlier in the week several big consumer names such as Whirlpool and Pepsi warned about sluggishness in developed markets, sending their shares sharply lower.

"The market still has a high degree of skepticism in it," said Kalivas, summing up the earnings season so far.

Kalivas said he will be closely following earnings from sector and economic bellwethers next week. Those include the package delivery company UPS, chipmaker Texas Instruments, and online retailer Amazon.

Around 30 percent of the S&P 500's $12.3 trillion market cap have reported earnings so far. They have outpaced consensus estimates by 3.8 percent, and only 7 percent have missed estimates, according to data from Morgan Stanley.

But share prices of those that have fallen short of estimates have taken a severe beating. Given the fragile sentiment a few more prominent misses could derail the market.

"The market is punishing these misses more than it is rewarding beats, an asymmetry we have been calling for and we forecast will continue," wrote Morgan Stanley's U.S. equity strategist Adam Parker in a note to clients.

"Our view remains that first half of the year numbers are achievable but the second half of the year looks challenged," he said.

Next week is also a big week for economic data. Fears of a slowdown in the economy have been a large driver of market volatility over the last few months, and the coming releases will be parsed very closely.

They include early regional manufacturing data from Chicago and New York, a reading of consumer sentiment, and a first reading of U.S. growth for the second quarter, expected to show the economy grew just 1.9 percent in the period.

Bob Doll, chief equity strategist at BlackRock, one of the world's largest fund managers with around $1.6 trillion of equities under management, said this week that the U.S. economy is at a critical juncture.

Doll points out that since 1960 everytime year-on-year growth has fallen under 2 percent the U.S. economy has gone into recession.

"Our bottom line view is that investors should maintain a reasonably constructive bias toward risk assets, but should also be prepared to scale back exposure if evidence of economic growth acceleration does not materialize," said Doll.



Offline zuolun

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Re: Coastal
« Reply #129 on: July 24, 2011, 07:35:55 PM »
if next week coastal share price is a gain, macd line will cross signal line from below. strong buy signal.  :clap:

Immediate resistance now at RM2.65. 

Offline zuolun

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Re: Coastal
« Reply #130 on: July 25, 2011, 10:17:42 AM »
May I know how much will be the warrant listing price tomorrow? Thanks

Coastal warrant (COASTAL-WA) is quoted at 30.5 sen with 7,679,900 at BUY queue and zero at SELL queue now. Only 14,600 warrant shares are done since market opened this morning. The huge BUY queue suggests that investors are interested to pay each Coastal warrant at 30.5 sen at exercise price RM 3.18.


Offline zuolun

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Re: Coastal
« Reply #131 on: July 25, 2011, 12:11:09 PM »
Warrant price at 10 sen is just an example for illustration purpose only. If the warrant is listed at a higher price, say at 30 sen or 50 sen and punters are interested to play it (up/down), then the mother share at current RM2.45 will move in lockstep with the warrant price.

Coastal hit low of RM 2.48 and high of RM 2.53 currently trading at RM 2.49 (-0.03, - 1.58%) with light volume done at 152,900 shares. With the underlying share at RM 2.49, the conversion price would be RM 3.485 (RM 0.305 + RM 3.18); that's a huge difference of 98.5 sen. It's unexpected that the warrant opened open high at 30.5 sen; it goes to show that investors are bullish on Coastal in the long term.   

My thought of buying the warrant cheaply at 10 sen each is unlikely today!  :P   



Offline zuolun

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Re: Coastal
« Reply #132 on: July 25, 2011, 12:37:36 PM »
Coastal noon closing at RM 2.50 (-0.03, -1.19%) with volume done at 172,900 shares.

The BUY queue of 173,800 shares at RM 2.49 just popped out suddenly, 20 minutes prior to noon closing...  ;)

Offline zuolun

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Re: Coastal
« Reply #133 on: July 25, 2011, 01:13:37 PM »
Coastal noon closing at RM 2.50 (-0.03, -1.19%) with volume done at 172,900 shares.

The BUY queue of 173,800 shares at RM 2.49 just popped out suddenly, 20 minutes prior to noon closing...  ;)

There is a possibility of follow-through support-buy at RM 2.49 in the afternoon and it would be positive if Coastal could close higher than RM 2.53 today.

Offline tedbeh

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Re: Coastal
« Reply #134 on: July 25, 2011, 01:55:02 PM »
The warrant limit up, does it meant that we can't trade today already? until tomorrow?

Offline zuolun

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Re: Coastal
« Reply #135 on: July 25, 2011, 02:52:34 PM »
Brazil's state-owned Petrobras unveils 5-year investment plan

July 25, 2011

RIO DE JANEIRO -- State-owned Brazilian oil company Petrobras has unveiled a five-year investment plan of US$224.7 billion for the 2011-2015 period, up slightly from the previous 2010-2014 proposal, according to a company statement.

The board of directors, presided over by Brazilian Finance Minister Guido Mantega, approved the business plan late Friday after reportedly rejecting two previous proposals, as it called on the company to rein in spending.

The first two investment plans had been for US$260 billion and US$230 billion, before the board signed off on the projected outlays.

The final proposal seeks to achieve a “more efficient management of company assets and profitability,” said Petrobras in a statement.

It sets the goal for Brazil's oil and gas production for 2011 at 2.1 million barrels of oil per day (bpd) and 434,000 barrels of gas, while estimating an increase in production in 2015 for up to 3.07 million bpd, and of 4.9 million bpd by 2020.

Last year the state oil company made a record net profit of US$20 billion dollars, a 17 percent increase from 2009 due to increased production and higher oil prices.

Projections have also been raised due to recent discoveries of oil and natural gas claimed by Petrobras.

In June it said it had discovered up to 700 million barrels of oil and natural gas in the Gulf of Mexico, and would share the spoils with ExxonMobil.

At the time it called the oil fields “one of the greatest discoveries in the Gulf of Mexico in the last decade,” and spurred interest in the company's capacity to grow after several years investing in deep water drilling technology.

It received permission in March from the United States to begin deepwater oil and natural gas production in the Gulf of Mexico.

Offline zuolun

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Re: Coastal
« Reply #136 on: July 25, 2011, 04:09:50 PM »
Coastal noon closing at RM 2.50 (-0.03, -1.19%) with volume done at 172,900 shares.

The BUY queue of 173,800 shares at RM 2.49 just popped out suddenly, 20 minutes prior to noon closing...  ;)

Those on the SELL queue at RM 2.50 are dumping their shares to that big buyer who popped out suddenly, 20 minutes prior to noon closing... 

As a result, the BUY queue at RM 2.49 has been reduced to 104,700 shares while the SELL queue at RM 2.50 is at 63,700 shares with total volume done at 264,300 shares. 

Offline zuolun

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Re: Coastal
« Reply #137 on: July 25, 2011, 04:53:11 PM »
At current prices of RM 2.49, it would be RM3.20++ pre bonus issue with PE at < 6x.


Offline zuolun

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Re: Coastal
« Reply #138 on: July 25, 2011, 05:22:16 PM »
Coastal closed at RM 2.50 (-0.03, -1.19%) today with total volume done at 289,566 shares.

(Funny...someone purposely bought 6K shares at the SELL queue to close the price at RM 2.50.) 


Offline zuolun

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Re: Coastal
« Reply #139 on: July 25, 2011, 05:46:51 PM »
Coastal closed at RM 2.50 (-0.03, -1.19%) today with total volume done at 289,566 shares.

(Funny...someone purposely bought 6K shares at the SELL queue to close the price at RM 2.50.)

The trading pattern is quite interesting today.

1.  At 12.10 am, a block of 173,800 shares was suddenly placed at RM 2.49 to prevent the price from sliding > 4 sen.

2.  Prior to closing at 4.45 pm, the price was intentionally lifted 1 sen higher at RM 2.50 with 6k share instead of the consistent sell-off price at RM 2.49 whole afternoon.

Conclusion: It appears that a big player could be avoiding a margin call today. :P 

Offline TheLord

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Re: Coastal
« Reply #140 on: July 25, 2011, 05:52:15 PM »
O.O

Offline zuolun

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Re: Coastal
« Reply #141 on: July 25, 2011, 06:12:02 PM »
The trading pattern is quite interesting today.

1.  At 12.10 am, a block of 173,800 shares was suddenly placed at RM 2.49 to prevent the price from sliding > 4 sen.

2.  Prior to closing at 4.45 pm, the price was intentionally lifted 1 sen higher at RM 2.50 with 6k share instead of the consistent sell-off price at RM 2.49 whole afternoon.

Conclusion: It appears that a big player could be avoiding a margin call today. :P 

However, if the block of 173,800 shares was initiated by the Company's share buy-back program, then it wouldn't look funny or strange.  ;) 

Offline zuolun

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Re: Coastal
« Reply #142 on: July 25, 2011, 07:28:45 PM »
General Announcement
Reference No OI-110725-40519 

Submitting Merchant Bank : OSK INVESTMENT BANK BERHAD 
Company Name : COASTAL CONTRACTS BHD
Stock Name : COASTAL
Date Announced : 25/07/2011 
 
Type : Announcement
Subject : NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) OTHER ISSUE OF SECURITIES
Description : COASTAL CONTRACTS BHD (“COASTAL” OR THE “COMPANY”)

ISSUE OF FREE WARRANTS IN COASTAL (“WARRANT(S)”) ON THE BASIS OF ONE (1) WARRANT FOR EVERY EIGHT (8) ORDINARY SHARES OF RM0.20 EACH AFTER THE BONUS ISSUE (“FREE WARRANTS ISSUE”)

Announcement Details/Table Section :

We refer to our announcement on 14 July 2011 and 22 July 2011 relating to the Free Warrants Issue.

We wish to highlight that 60,408,667 Warrants were granted listing and quotation on the Main Market of Bursa Malaysia Securities Berhad on Monday, 25 July 2011, marking the completion of the Free Warrants Issue.

This announcement is dated 25 July 2011.
 
 

Offline zuolun

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Re: Coastal
« Reply #143 on: July 25, 2011, 07:37:44 PM »
TheEdge Billion Ringgit Club 2011 Corporate Awards

By theedgemalaysia.com | The Edge – Thu, Jul 14, 2011

COMPANY OF THE YEAR

QL Resources Bhd

 

COMPANIES WITH MORE THAN RM10 BILLION MARKET CAPITALISATION

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Petronas Dagangan Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

Genting Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

British American Tobacco Malaysia Bhd

 

CONSTRUCTION SECTOR

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Mudajaya Group Bhd

 

 

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax  over three years

Mudajaya Group Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

Mudajaya Group Bhd

 

CONSUMER PRODUCTS SECTOR

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Guan Chong Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

Guan Chong Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

British American Tobacco Malaysia Bhd

 

FINANCE SECTOR

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Malaysia Building Society Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax  over three years

Malaysia Building Society Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

Public Bank Bhd

 

 

INDUSTRIAL PRODUCTS SECTOR

 

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Supermax Corporation Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

Supermax Corporation Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

Coastal Contracts Bhd


 

 

PLANTATION SECTOR

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Kulim (Malaysia) Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

Kulim (Malaysia) Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

IOI Corporation Bhd

 

 

PROPERTY AND REIT SECTORS

BEST PERFORMING STOCK

Highest returns to shareholders over three years

Mah Sing Group Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

Bandar Raya Developments Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

Sunway City Bhd

 

 

TRADING/SERVICES, HOTEL, IPC AND TECHNOLOGY SECTORS

BEST PERFORMING STOCK

Highest returns to shareholders over three years

KPJ Healthcare Bhd

 

HIGHEST PROFIT GROWTH COMPANY

Highest growth in profit before tax over three years

DKSH Holdings Malaysia Bhd

 

MOST PROFITABLE COMPANY

Highest return on equity over three years

Berjaya Sports Toto Bhd

Offline zuolun

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Re: Coastal
« Reply #144 on: July 25, 2011, 07:42:59 PM »
coastal report rm56.8mil net cash against rm161.3 mil profit last fy. rm0.11 net cash per share. compare with fimacor rm 0.75 net cash per share. i don't think cash flow is coastal's strong point. maybe high ROE.  :nod:

You're right! Coastal has been awarded the highest ROE over 3 years. :thumbsup:

MOST PROFITABLE COMPANY

Highest return on equity over three years

Coastal Contracts Bhd


Offline zuolun

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Re: Coastal
« Reply #145 on: July 25, 2011, 11:06:13 PM »
Coastal hit low of RM 2.48 and high of RM 2.53 currently trading at RM 2.49 (-0.03, - 1.58%) with light volume done at 152,900 shares. With the underlying share at RM 2.49, the conversion price would be RM 3.485 (RM 0.305 + RM 3.18); that's a huge difference of 98.5 sen. It's unexpected that the warrant opened open high at 30.5 sen; it goes to show that investors are bullish on Coastal in the long term.   

My thought of buying the warrant cheaply at 10 sen each is unlikely today!  :P 

Bursa down reflecting regional market movements

Monday July 25, 2011 MYT 6:26:49 PM

KUALA LUMPUR: The FBM KLCI continued to dip, with 5.46 points or 0.35% down to 1559.60 today following weaker investor sentiment that also affected the regional market performance.

Leading gainers and losers showed conservative trading. Top gainers were COASTAL-WA, which rose 30 sen to RM0.305, KLK gained 20 sen to RM21.70 while BRDB-WA gaining 19.5 sen to RM0.98.

Top losers were DRBHCOM which slid 33 sen to RM1.95, GENTING which lost 22sen to RM10.50 and SINDORA which dipped 21 sen to RM2.39.

On the local bourse, decliners outpaced advancers by 505 to 203 while 291 other counters were traded unchanged. There were 857.4 million shares done with a total turnover of RM1361.27 million.

Regional bourses closed weaker as well. Tokyo's Nikkei 225 fell 0.81% to 10050.01 and Hong Kong's Hang Seng Index was down 0.68% to 22293.29.

Shanghai's A index was down 2.96% to 2688.75, Taiwan's Taeix Index fell 0.93% to 8683.51 while Seoul's Kospi Index dropped 0.96% to 2150.48. Singapore's Straits Times Index slid 0.40% to 3170.09.

Nymex crude oil lost 64 cents to US$99.23 per barrel. Spot gold gained US$17.58 to US$1,618.91 per ounce while silver rose US$0.79 to US$40.87. The ringgit was quoted at 2.9729 to the US dollar and 4.2719 to the euro.

Offline zuolun

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Re: Coastal
« Reply #146 on: July 25, 2011, 11:44:51 PM »
Wijaya Baru warrants jump, though out-of-money

By Joseph Chin of theedgemalaysia.com
July 25, 2011

KUALA LUMPUR: The securities of Wijaya Baru Global Bhd and the warrants rose in active trade on Monday, July 25, though there was no positive news from the  timber-property based company.

At 4.35pm, the shares rose 9.5 sen to 74.5 sen with 13.60 million shares done.

The warrants, Wijaya-WA climbed 4.5 sen to 16 sen and it was the most active with 29.24 million units done.  The warrants are out-of-the money.

The FBM KLCI fell 4.92 points to 1,560.14. Turnover was 760.53 million shares valued at RM1.15 billion. There were 173 gainers, 543 losers and 266 stocks unchanged.

The warrants, issued in September 2007, expire in September 2012. The conversion ratio is one warrant for each share. The exercise price is RM1.25.

The warrants were issued for free to the subscribers of renounceable rights issue of RM110.36 million nominal value of five-year 7% irredeemable convertible unsecured loan stocks (ICULS) at 100% of its nominal value on the basis of one free detachable warrants for every RM1 rights ICULS subscribed for.

The issue price for the ICULS was RM1 and the exercise price was RM1.25. The loan stocks expire in September 2012.

In the quarter ended March 31, 2011, it posted pre-tax loss of RM909,000 on the back of RM124,000 in revenue. However, share of net results of an associated company of RM4.52 million nudged it into the black with net profit of RM3.22 million.



Offline tedbeh

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Re: Coastal
« Reply #147 on: July 26, 2011, 08:06:56 AM »
Coastal warrant is 39% out of money now at RM0.305, what will be the best price to enter?

Offline tedbeh

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Re: Coastal
« Reply #148 on: July 26, 2011, 08:37:03 AM »
It is crazy! Another limit up today!

Offline zuolun

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Re: Coastal
« Reply #149 on: July 26, 2011, 10:54:20 AM »
Coastal hit low of RM 2.47 and high of RM 2.50, currently trading at RM 2.48 (-0.02, -0.80%) with light volume done at 148,400 shares.

COASTAL-WA last done price at RM 0.605 (+0.30, +98.36%) with 658,000 at BUY queue and zero at SELL queue; total volume done at 867,300 since market opened this morning.