Singapore: Go Marine Ship Management, a 90% owned subsidiary of Otto Marine, is buying 49% of the shares in Expro Synergy from two individuals, Noor Haizam Bin Wasir and Mohd Azmy Bin Khosne, for RM980,000. Otto Marine will pump a further RM147,000 into Expro, a company formed last year which charters vessels to a large oil and gas firm, believed to be Petronas. [22/08/13]
Source:http://seashipnews.com/news_content.php?fid=3w3c1287
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Otto Marine is Ready to GO !!!
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UPRR18
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26-Aug-2013 21:40
Yells: "Si Mai" |
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Hope they don't do it too often - internal selling ... and no other monkey tricks. If they continue to sell to own subsidiaries, the shareholder should question them and further investigation maybe needed to straighten their processes. Don't you think so .... stop looking at the pennies and overlook the pound that goes through the back door. | ||||
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oldflyingfox
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26-Aug-2013 18:11
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When the company deliver another 2 new ships later this year, the direction will start to move up. | ||||
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Alex22361
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26-Aug-2013 16:57
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Moneyplant, you sound so confident in this counter ah??? U know any insider news?
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Alex22361
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26-Aug-2013 16:55
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Agreed and no confident in this counter
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UPRR18
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24-Aug-2013 23:03
Yells: "Si Mai" |
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Look at the background of the company, Expro Synergy is a company incorporated in Malaysia on 9 January 2012. Who knows maybe it is setup to suck dry shareholders' money and fatten them. Afterall they have sold vessels to subsidiaries and lease them back, like someone mentioned round tripping and who valued the price of the vessels being sold ??? Boh Zhen Hu ... Woah Woah crying not laughing | ||||
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UPRR18
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24-Aug-2013 22:34
Yells: "Si Mai" |
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Haha !!! Go Malaysia, then Ciao Lang ... run away with the money .... is that what you are trying to say.... nah no confidence in the management.
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moneyplant
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24-Aug-2013 20:48
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Otto Marine in Malaysian OSV dealSingapore: Go Marine Ship Management, a 90% owned subsidiary of Otto Marine, is buying 49% of the shares in Expro Synergy from two individuals, Noor Haizam Bin Wasir and Mohd Azmy Bin Khosne, for RM980,000. Otto Marine will pump a further RM147,000 into Expro, a company formed last year which charters vessels to a large oil and gas firm, believed to be Petronas. [22/08/13]
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moneyplant
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21-Aug-2013 20:15
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Petronas licence bought.
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Tanahkow
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21-Aug-2013 18:14
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The Board of Directors of Otto Marine Limited (the ?Company?) wishes to announce that Go Marine Ship Management (S) Pte. Ltd., a 90% owned subsidiary, has entered into a Shares Sale Agreement with Messrs. Noor Haizam Bin Wasir and Mohd Azmy Bin Khosne (the ?Vendors?) on 19 August 2013 (?SSA?) to acquire 49% of the total issued shares in Expro Synergy Sdn. Bhd. (?Expro Synergy?) for a total consideration of RM980,000. (?Proposed Acquisition?). The Board of Directors of the Company wishes to further announce that the Company will be increasing its investment in Expro Synergy by RM147,000 (?Further Investment?). The Company?s percentage shareholding is expected to remain at 49% of the total issues shares in Expro Synergy. The Company will issue an updated announcement upon the completion of the Further Investment. Expro Synergy is a company incorporated in Malaysia on 9 January 2012 and it holds a valuable vessel charter licence to trade with an international state owned oil and gas conglomerate. | ||||
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UPRR18
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18-Aug-2013 20:55
Yells: "Si Mai" |
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Yes moneyplant, Go Malaysia !!! Ciao | ||||
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moneyplant
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18-Aug-2013 17:30
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Price will correlate with crude oil prices. With higher prices we see in crude, this will spur exploration, in return this counter will rocket. Chiong !
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Tomique
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15-Aug-2013 14:42
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Otto looks very strong at 4.9/5 cents. The future is good, and don't let go yet. I think no more asking money from shareholders. As I say, will keep an eye and buy little by little until it goes to 5.5 cents then buy more. There is a secret reason why 5.5 cents, hahaha!!! |
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moneyplant
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15-Aug-2013 14:15
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Look @ its Strategic Land Holdings in Batam ...
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KepoChicken
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15-Aug-2013 08:25
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If problem company, never ever look at NAV. Overnight .... huge lose will occur. see those companies suspence come back sure alot of expense make a huge loss to company |
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jomini
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15-Aug-2013 07:34
Yells: "slow down, think, question" |
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yes it is. nav is not fair value tho. any other things u looking at to determine its value?
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john_ric
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14-Aug-2013 23:32
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otto's management is crap. so the share is also crap.. junk share. |
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oldflyingfox
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14-Aug-2013 21:44
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NAV should be 11.5 cts (sgd) which was stated in the latest result.
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pipi88
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14-Aug-2013 16:42
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Rather Buy Metal Comp. Cheaper and better fundamental than this crap. | ||||
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jomini
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14-Aug-2013 16:39
Yells: "slow down, think, question" |
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why 8 cents? how did u get 8 cents? not shorting it. just want to know how u estimated it to be above 8 cents
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pipi88
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14-Aug-2013 16:38
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NAV is 0.072, more like go to 0.064 the most. | ||||
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