RCE-To Subscribe or Not to Subscribe

Will it Come Back to its Former Glory?

Now, you are again given Hamlet's choice.

No, no, no, not  Hobson's choice.

To buy or not to buy? To sell or not t o sell?

To act insane or you already are with the SC and BSKL trying to screw your brains out!

RM 0.315 sen is the adjusted price today when RCE Capital went ex-all.

I do not know how the market is going to value the new redeemable convertible non-cumulative preference shares (RCPS) which will soon be open for subscription in the first week of November. It is priced at a very high value of RM 0.38 sen on the basis of 2 units for every 5 RCE shares held after the bonus issue.

Let us say you have 2000 shares in RCE which you are fully entitled to the new issues. With the bonus thrown in,it means you have 3000 shares. The original 2000 shares were trading at RM 0.445 sen last Thursday  (25th October). That means they were worth RM 0.89 sen.

Lending to government servants- a Solid Deal!

At the current price of let's say RM 0.30 sen, and you have 3000 shares, it means that you have fair value of about 90 sen. Plus or minus, there is actually no gain. No extra value. Nada!  The bonus is what the Malays termed as 'buat sibuk sahaja!"

So, now is the moment of truth. You are offered 1,200 units. They will deposit these new units into your CDS account on 31 October 2012.

What would you do?

Sell the option papers into strength when the offer papers go on sale on 1st November  or subscribe to 'test the water' by paying for the new rights by 19 November?

Remember the rights trading ends on 7 November if you intend to sell.

I really do not know what is the value.

It is something like Berjaya Foods which can actually fetch a huge value. Today it is trading at 57 sen.

My opinion:

RCE has always been a safe counter until it was 'royally screwed" along with the Angkasa debacle orchestrated by the silly Commission of Cooperatives!

As usual, sadly the rakyat gets screwed by the government.

I think it is on the recovery track and hopefully through this capitalization exercise can go the extra mile to bring up profits as well as RCE's share price.

On the long run, Azman Hashim's counters do not disappoint.

Caveat emptor!

School's Out for 2012

A Rowdy Farewell

School's out for the year.

Until the term begins in 2013, I will be on long leave from tutoring at the center.

I have been toying with this idea.

Firstly, I am going on with age.

Secondly, I cannot get a replacement for my job at the tuition center.

Thirdly, I need to go back often to see my ailing father.

Yet, on balance, it seems that I will have to soldier on for yet another year as the current consultancy jobs and writing assignments are 'too variable' in nature. Some years can be good, others can be lean.

So far, God has been kind.

But, for pragmatic reasons, I will have to provide teaching materials to be center for them to take over the class when I need to take leave.

Sure it will be gratis and they do not have to pay me, too!

Grand Prize, Man!

Bringing it back in my small car was a hassle!

I was just telling my wife," Do you know at this time yesterday,we still have not won this 43 inch TV that now sits resplendently in our hall's sideboard?"

I was the last chap to sign the guest list for this function.

And my name was the last to be called and I won the grand prize.

It was not the price of the prize that matters after all TVs today are a dime a dozen.

This Plasma set was just the one before the launch of their 3-D set.

On checking, it cost RM 1,360.00.

Great to have a prize after a long, long time.

Praise the Lord!

Which Machine,my friend?

This was going around the internet for sometime.

The ATM Will do It!

The tongue and cheek line has a pot-bellied man asking a training coach what machine he should use to attract a beautiful and fit women.

His answer: The ATM!

Seduction Alvin-Vivian Style

What now, my love?

It may not be as hot as when it first exploded onto the blog screen but many are scouring the internet for the three videos.

Many were fortunate to see the couple at the climactic  heat of the moment.

Now, you may be lucky it the videos even 'open' for you to enjoy these lusty moment of hot sexual pursuit.

The sex-rape video was nothing great so I was told.

Narcissistic Cam-whores?

The oral episode was again another let down but the Last Tango in Kuala Lumpur was sexually quite aggressive  I was informed.

Apparently it was somewhere between pink and blue.

So, while Alvin  faces the Disciplinary Board of NUS, I wonder what is Vivian doing these days?

The Losing of the Pot of Del Oro

Glitter is All gone

For many, after 4 years of receiving hibah, nothing could possibly go wrong. At more than 30% annual returns, they were awashed in moolah while their poorer cousins had to tolerate the low fixed deposit regime of an average 2.8%.

To lend authenticity to their name, the company brought in the King, The First Lady Rosmah and obviously Mr Gold is God ex-PM, Mahathir at their functions.

It was all rosy as an impending Mediterranean holiday package when it all caved in. On both sides of the Causeway, Genneva was raided by the authorities.

Mama Mia! It's All gone!

Now, the Deputy Finance Minister seems to point to the fact that the operations of this company was 'all mist and mirrors' and have been operating a Ponxi scheme of sorts. Liabilities was more than assets.

For those who gave in their life-savings to these scheme ,woe betide and they may not crawl out of this hell hole forever. May be in another life!

Just like how they screwed up the Astro IPO by selling a debt ridden Astro, do not trust the Malaysian  authorities. Not the current politicians and always, not any ex-PMs.

These ex-PMs do not do magic. Not on the job, never when out of the job!

All that glitters is not gold!

Les Miserables!

T'is but a valuable lesson to learn when your nest-egg is all gone!

An Eggnest Bears Fruit

An Egg-nest in Your Hands

When my son was 4 years old, I bought into an annuity for him so that part of his educational expenses at the tertiary level will be financed therefrom.

It's that time now.

After collecting back my initial outlay, we have to be reimbursed for the fees that we have paid the university.

Growing a Future

The annuity managed by KOOP Malaysia pays out  twice a year based on  academic results.

If a beneficiary fails to make the mark, he cannot collect the next disbursement due.

Those beneficiaries that quit their courses will also lose as what is left in their account will be shifted to the residual account to support other students on longer courses.

A Small Harvest

So, my son has to work doubly hard to get this annuity payout.