Degem Berhad

GOLD at 7 year high $BAHVEST / 0098 (BAHVEST RESOURCES BERHAD) $POHKONG / 5080 (POH KONG HOLDINGS BERHAD) $TOMEI / 7230 (TOMEI CONSOLIDATED BERHAD) $DEGEM / 7119 (DEGEM BERHAD)

Gold prices are continuing to break out and closed on Tuesday at a fresh-7-year high. The US dollar moved lower on Tuesday paving the way for higher gold prices.

Technical analysis:
Gold prices moved higher closing above trend line resistance and continue to break out closing at fresh 7-year high. Support on the yellow metal is seen near the 10-day moving average at 1,737. Target resistance on the yellow metal is the August 2012 highs at $1,791. Short term momentum has turned positive as the fast stochastic generated a crossover buy. The current reading on the fast stochastic is 95, above the overbought trigger level of 80 which could foreshadow a correction. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).

Gold related counter;
$DEGEM / 7119 (DEGEM BERHAD) $POHKONG / 5080 (POH KONG HOLDINGS BERHAD) $NICE / 7139 (NICHE CAPITAL EMAS HOLDINGS BERHAD) $TOMEI / 7230 (TOMEI CONSOLIDATED BERHAD) $BAHVEST / 0098 (BAHVEST RESOURCES BERHAD)

Source: http://bit.ly/37rQUTG

DEGEM BERHAD ("DEGEM" OR THE "COMPANY")

PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED SCR")

DEGEM BERHAD ("DEGEM" OR THE "COMPANY")

PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED SCR")

KUALA LUMPUR: Legion Master Sdn Bhd, the major shareholder of DeGem Bhd, announced a privatisation plan, sending its share price up 24% at midday on Thursday.

KUALA LUMPUR (Sept 26): DeGem Bhd's share price rose as much as 22 sen or 27% to RM1.05 so far today after the jeweller's major shareholder Legion Master Sdn Bhd offered to privatise DeGem at RM1.10 a share via a selective capital reduction and repayment (SCR) exercise.
At 12:12pm, DeGem shares were traded at RM1.03 with 78,700 units transacted. The counter was among Bursa Malaysia's top gainers. DeGem's share trade resumed today following a suspension yesterday pending the SCR announcement.

KUALA LUMPUR: Legion Master Sdn Bhd, the major shareholder of jewellery manufacturer DeGem Bhd, is offering minorities RM1.10 a share in a bid to take the group private.
Legion controls a 58.83% direct stake or 76.97 million shares in the company and together with persons acting in concert, collectively control 83.09% of DeGem or 108.71 million shares.

KUALA LUMPUR: JF Apex Research expects Yinson Holdings Bhd, Widad Group Bhd, Perdana Petroleum Bhd, DeGem Bhd and Ikhmas Jaya Group Bhd to be among the stocks to watch on Thursday.

KUALA LUMPUR (Sept 25): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Thursday, Sept 26) may include: Yinson Holdings Bhd, Widad Group Bhd, Perdana Petroleum Bhd, Sime Darby Property Bhd (SimeProp), Daibochi Bhd, DeGem Bhd, United Malacca Bhd, Ikhmas Jaya Group Bhd and iDimension Consolidated Bhd. 

KUALA LUMPUR: Degem Bhd, the jewellery maker, said a major shareholder has requested the company to consider a selective capital repayment (SCR) plan and to delist the stock.

Legion Master Sdn Bhd, the major shareholder of jewellery manufacturer DeGem Bhd, is offering minority shareholders RM1.10 a share in a bid to take the group private.
Legion controls a 58.83% direct stake or 76.97 million shares in the company and together with persons acting in concert, collectively control 83.09% of DeGem or 108.71 million shares