Velesto Energy Berhad attracted some investors’ interest as we enter the month of September after the Group recorded a turnaround in the second quarter of 2019.  Velesto has been suffering losses in the last four financial years and this turnaround together with more optimistic outlook provided by the company improved sentiment on the stocks.  Despite a surge in intraday trading to as high as 32 sen on 3^rd September, Velesto mother share ended the day flat at 30.5 sen while the company warrant VELESTO-WA dropped 0.5 sen to close at 11 sen.

MNC Wireless Berhad attracted some interest lately with the mother share price surging from 6 sen to 9 sen so far in the month of August 2019.  This may be attributed to the on-going rights issue exercise the company is implementing.  MNC Wireless is in the midst of completing its rights issue of Irredeemable Convertible Preference Shares (ICPS) to raise up to RM113.08 million.  According to the company’s announcement, it is offering shareholders to subscribe up to 3.77 billion ICPS at an issue price of 3 sen per ICPS on the basis of 50 ICPS together with 1 free warrant for every (warrant B) for every 10 shares held on the entitlement date of 7^th August 2019.  The surge in interest in MNC Wireless securities happened after the ex-date for the rights issue and the share price has risen to close at 9 sen on 27^th August while the company existing warrant MNC-WA closed at 2 sen.

The share price of Ta Win Holdings Berhad has been fluctuating widely over the past one month rising to a high of 23.5 sen before tumbling down to reach a low of 13 sen recently.   The drop in share price may be due to the completion of massive cash call which involves a rights issue exercise which saw Ta Win issuing 238.84 million new shares and 477.68 million Irredeemable Convertible Preference Shares (ICPS) at an issue price of 10 sen per rights share and 2.5 sen per ICPS.  The rights issue was implemented on the basis of 3 rights shares and 6 ICPS with 2 free warrant for every 1 share held on the entitlement date of 12^th July 2019.  This rights issue was oversubscribed by close to 55% after accounting for excess applications. 

SCH Group Berhad attracted some interest in late July after the group posted a big jump in revenue and profit following the business diversification undertook by the company last year.  However, the interest was not sustainable as the equity market took a tumble following external events and domestic uncertainties.  The mother share and warrant of SCH Group closed at 11 sen and 3.5 sen respectively on 13^th August 2019.