Supercomnet share price plunged !

Supercomnet Technologies Bhd (SCOMNET) share price plunged for last two days after news on PM's son will not buy the company shares.

On Monday, the company said it had struck a deal with PM's son Mohd Nazifuddin Mohd Najib that he had the option to buy the company's 18% stake for about RM10 millions but he declines the option.

In an agreement with the company, PM's son has a 30-day option to buy 45 million ordinary Supercomnet shares at RM0.225 per share.

Since he has 30 days to decide on the option, whoever bought the shares recently are hoping he will reverse his decision made yesterday.

Otherwise it will not be long before the share price back to RM0.10.

Najib's son buys Supercomnet?

Another penny stock made a huge gain in KLSE. Supercomnet ( SCOMNET )!

The stock jumped from low of RM0.11 to highest of RM0.58 within two weeks on rumor on the boardroom changes.

Finally Supercomnet announced it has struck a deal with Prime Minister's son Mohd Nazifuddin Mohd Najib allowing him for an option to buy 18% of this ACE Market listed company for an amount of RM10 million.

Supercomnet, formerly known as Supercomal Technologies Bhd is a company that manufacturing wires and cables for the automotive and medical industries. It was listed on the then Mesdaq Market in April 1999.

Earlier the company was queried by Bursa Securities on their unusual market activity (UMA).

Before that, PM's son was involved in Harvest Court but resigned as director after about a month on the board.

Raymond Chan buys Metronic Global

Another penny stock actively traded at Bursa Malaysia last week. It was Metronic Global Bhd, last week saw the shares surged from RM0.10 to its high of RM0.315.

As usual the company was issued with unusual market activity (UMA) query by
SC.

The sharp raises and active trading of the share was related to the involvement
of Datuk Raymond Chan Boon Siew. He bought 5% of the Metronic Global shares.

Datuk Raymond Chan, this name sound familiar isn't it ! If you followed KLSE for last few months, surely you know who he is.

Previously, two other penny stock companies which involved him are Harvest Court Industries Bhd and Naim Indah Corp Bhd (NICORP).

He bought into Harvest last year and NICORP early this year.

Harvest price was surged from RM0.08 to RM2.13.

NICORP jumped from RM0.075 to RM0.75.

Will he buy another company? Why not TRINITY, only RM0.07 now !!!

Another good news from NICORP

NICORP has been invited to participate to purchase a liquefied petroleum gas (LPG) business from Shell Malaysia.

The offer is from a Oman based company called National Gas Company(NGC) which won the bid to buy Shell Malaysia Trading Sdn Bhd (SMTSB) its LPG business for around RM275 million recently.

NGC is partnering with Aspire Sdn Bhd to set up a 40-60 special purpose vehicle to undertake the disposal.

Aspire is owned by Wan Zainalam Wan Yusoff and Wan Zulkifle Wan Yusoff on a 60-40 basis.

But the detail of purchasing by Nicorp has not been stated and will make the necessary announcement.

If the purchase is successful then there will add another core business to the current property investment, property development and round logs timber extraction.

MMC Earning Double

MMC CORPORATION BERHAD
- Fourth quarter ended 31/12/2011
- Announcement date 29/02/2012

KSL revenue increased almost double

KSL HOLDINGS BERHAD
- Fourth quarter ended 31/12/2011
- Announcement date 01/03/2012