Dijaya Corporation Rights-Formula for Failure

Get Ready to Lose

I think the Board got it all wrong. I mean all 100% wrong.

Buying almost all of the Chairman's  personal land bank for one, is " not very nice-lah"

Secondly, I think the valuation would not have possibly favoured the minority shareholders.

Thirdly, timing is real-real wrong especially when your share price is lower than the rights pricing.

The bonus issue is just too scrawny to be an attractive sweetener.

Let us look at a typical case of a shareholder with 1000 shares in Dijaya.

So, he applies for what is his due.  His entitlement: 4 new shares for every 5 held.  So, he gets 800 new rights at RM1.20 x 800 = RM960.00

He also gets 1 bonus share for every 4 rights subscribed. For 800 shares,  he gets 160 bonus shares.

Now let us calculate whether he gains or not from participating in this cash raising exercise.

As the share price is now currently at RM1.11, he loses 9 sen x 800 = RM72.00.

Let us attribute a price for the bonus issue. As it is priced at only 20% of current price, let us generously give it a fair vale of 22 sen. So the shareholder will make RM35.20.

Now let us add the overheads for subscription. The government stamp duty costs RM10 while the bank-draft charge at RM5.

The losses is RM72.00 and the overheads is RM15.00. Now let us add in the bonus gains of  RM35.20.

The losses and overheads will come to RM87.00. Deducting the gains from the bonus issue, the shareholder will lose RM51.80.

Auto-loss

 Now, a person in his right mind  will never subscribe for this rights and bonus exercise.

The only gainer is likely Danny Tan.

Com Oath-The Interview

Smart Show?

Truth be told. I knew I did well and aced the exam in Sun Tzu style!

So, when I went to the Pos Laju Office this morning to collect a letter, there it was.

And so I have been called for an interview for the post of Commissioner of Oath.

It is at usual at the Palace of Justice at Putrajaya on Monday, 8th October at 9 a.m.

So, I will have to re-read the silly COM Rules to give a super verbal  viva voce this time around.

I guess getting ready for the interview is half the fun.

Must remind myself to bring my Identity Card, my full  resume and my certificates when I go for this interview.

Meanwhile, kena belajar sekali lagi!

Why MCA? Dying MCA?

All Calm at the Surface

The way MCA is behaving these days is similar to a dying creature, breathing its last. How sad.

The way the father and son team took on Talamgate  was also heartrending. It was so unprofessionally  unpleasant of them to hit at the State government even though KPMG has already endorsed that it was above board and legit.

Chua Soi Lek's recent fight with Heng Siae Kie-- blaming her for trying to take on the Gopeng seat with the help of UMNO behind his back   is truly sad as it may just cause more internal friction between Wanita MCA and the head-honco of MCA.

Looks like MCA is going down mortuary way.................

Did I distinctly hear the bell-ringer from the graveyard shift  moving around the MCA hq at Jalan Ampang?

THHEB Shows Its Traction

Heavy Climbing Up

For the first hour of so, there was just a stand-down in prices.

The odds were for the sellers as they stood firmly without giving way to bargain hunting.

Slowly, the volume increased and so did its price.

The Oil and Gas Industry

By the  close, both THHE (53.5 sen)and its warrants (35.5sen) both tacked on 1.5 sen and 2 sen accordingly .

Looks like these two counters have found traction at the moment.

Global market permitting,it should move on to add a couple of sens in the next few days.

Keep your fingers crossed.

Digi-Hot to Trot

Smart and a Go-Getter

Pervasive technology and the convergence of media. Digi is right on to it by the way things are happening now in the telecommunication world in Malaysia.

Now, DiGi Telecommunications Sdn Bhd has launched an aggressive prepaid mobile phone plan that allows subscribers to enjoy 24-hour free calls, SMSes and Facebook access.

Called DiGi Easy Prepaid, DiGi said this refreshed offering is tailored for savvy consumers who are comfortable using both voice and data channels. Existing DiGi Easy Prepaid customers can migrate to the new plan from Sept 14 for a RM5 fee.

"They can interact with three Buddyz (DiGi numbers) freely and easily at zero charges within their self-created "mini community of four" via phone calls, SMS and Facebook," said DiGi in a statement today.

Apart from the three Buddyz, calls are charged at 30 sen per minute to all networks and 8 sen per SMS to non-DiGi numbers.

"With 80% of Malaysian mobile subscribers being prepaid users, DiGi is leading the charge to address their needs by delivering the best value in the market with relevant and richer mobile features that customers can truly appreciate," DiGi head of prepaid, Ting Shiew Han, said.

"DiGi has a strong brand affinity with youths and we are confident that this vibrant market segment will find our latest proposition appealing. After all, 50% of Malaysia's population are below 25 years old and they are one of the most discerning, price sensitive and mobile internet savvy people around.

"We believe that the new features of DiGi Easy Prepaid will further enhance user experience and empower customers to stay connected with their loved ones in the most affordable and convenient way – fulfilling our ambition to deliver 'Internet For All'," he added.

Another attractive and first-of-its kind feature in the country is the SMS Bonus, which gives DiGi subscribers and people in its Buddyz list free SMSes after each reload transaction from RM10.

"With every RM10 reload, the DiGi Easy Prepaid subscriber will receive 10 free SMSes to all networks whereas three Buddyz will receive five free DiGi-to-DiGi SMSes each," said Ting.

DiGi is also the only mobile service provider in the country to offer free Facebook access and music via its Music Bonus feature. The latter offers free three MP3 songs every month.

As for Facebook access, customers can easily update their Facebook status or receive alerts via Facebook Zero.

Sexist Code for Female Bosses-The Malaysian Guidelines

Immorality

I am definitely sure, our ladies particularly bosses will be fuming mad at these bad guidelines issued by the Malaysian Information Department.

I will translate.

The Ways to Become a Good Lady Boss

• You must be relaxed and calm in all situations irrespective,be it  normal or tense.
• You must have many discussions with your subordinates especially males.
• Do not show your ego and power in front of your subordinates especially when giving out instructions.
• Never be extremely authoritative and fierce
• Must be able to win the hearts of the subordinates

What a laugh!

Let us see how the ladies will re-act to the latest boo-boo from the government!

On the Way to ACCAdom-Hitting the Books!

Dry Comprehension

Well, for everything there will be  phases.

A time to sow and a time to harvest. A time to study and a time to rejoice..if you succeed, that is.

For my son, today is Day 1 at Sunway University--Management Accounting with Mr Tan. So my son was in  class whether he likes it; or disdains the opening upshot of a grueling 3 hour drone of a lecture!

Could be tough handling comprehension of academic English and the desert-sand dry subject at one go.

Anyway, it would be a challenge to him. Challenges toughen a person.

Yesterday, he was already poring over the notes to ready himself for this morning's lecture.

So, I quipped, " New vacuum cleaner, sweeps clean, doesn't it?"

May not be so technologically appropriate but the message hums true as well, I believe so.

And I also had one philosophical advice for him-Don't lose the forest for the trees!

Anyway ,will ask him in the afternoon, how the lecture went.