It's a speculative stock currently, as people just jump on the bandwagon to trade in this Plastoform. No doubt its business has picked up as seen in 1q results but don't forget about valuation. I would think it's still too early  for it to be priced at 5 cents.

It's gone ahead of the business performance even though the company said demand is high for its highly portable Bluetooth audio devices with quality sound is only just taking off. At the end of the day, this is a manufacturing business and you cannot think of it as a very sexy high-barrier-to-entry business.

Who had an early start in Plastoform? It's up 50% today at 5 cents!

JEL, PLASTOFORM: Big investors getting big in small caps

The speculator crowd is at work again, yanking the stock up to 7.9 cents now.
This is no fundamental stock -- you play and you gamble. It's like roll of a die. Can make, can die also.

6.3 only!!! What a free fall. Anyone got caught at high price levels?
Hope there is none from this forum. The lesson here is, the stock went too fast too high, sucking in a lot of people who didn't recognise that the valuation was getting too rich.

Value is what brings a high-priced stock down, and value is what pulls it up. Sooner or later.

The unknown here is what M&A JEL is working on. And when will it materialise? Is this a Sam Goi piece of action? So don't write off JEL as yet....

Just 2 days after I posted the words below....Game Over

Ship is turning. Down to 9.8 cents.
I would be surprised if it can make a turn up from here.

1.1 billion shares traded today -- incredible amount of stock changing hands, probably a few times in a day, since the free float is about 40% of 2 billion issued shares = 800 m shares. Maybank Kim Eng has a report today saying the stock appreciation  is over-done. Of course, no one was listening. The stock closed at 12.2 cents! Tomorrow, let's see ...

This rocket is a bit shaky this afternoon. Still, I am sure it's not made in North Korea.

I hear some people got burnt ! Yes, burnt ! Cos they shorted JEL --- LOL. In a single day, you can lose your pants shorting this rocket which refuses to fall. No one seems to know why -- that's the problem.

Relaxing, I wonder why SGX has not queried JEL about the crazy stock price run-up.

It has shot up from 0.6 cent (open market price) in mid Feb to 13.8 cents now. Just over 2 months --

JEL, PLASTOFORM: Big investors getting big in small caps

Hi Joes - It just hit 12.8 cts top vol. I am not vested and I dont intend to at this level as I am not brave . In fact I have not heard of this counter b4 as there are so many penny stocks. The SGX is a penny stock bourse - traded 5 billion shares yesterday at average abt 20 cts. I read this thread and note that you posted big boys picked up the excess rights abt 2 mths ago at 0.35 cts right ? Thanks for your running commentary which was fun to read. I doubt I'd ever see another rocket like this ever as it's still rising. My views only.

Are my eyes playing tricks on me? JEL at 9.8 cents now?

Gapped up at 8.5 cents. Nothing surprises anymore -- until it turns and plunges one day.

Market cap is now something like $120 million as stock has done the impossible -- touched 6.5 cents by noon today. This is the fastest rocket I have ever seen. 

Hard to believe it could reach 5.1 cents, but it has done it --- there must be a lot of money being used to push this one up. Scary level. It's 7.3X book value and no PE. Where is the meat???

JEL has made it to safe territory with a market cap of about $80 million now. Stock has hit 4 cents.
A criterion for being removed from SGX watch list is market cap of $40 million minimum for a certain period of time. 

Huh? JEL at 3.1 cents now?
Was only 0.6 cents around February. It's pretty overvalued, imho.

Today's report by The Straits Times --- Stock has shot up this morning to 2.5 cents as more people get carried away. In the short term, this stock is looking too rich in valuation. Compared to rights price of 0.35, this is already a 7 bagger in just the last few months.



Sam Goi set to pump $14m into JEL Corp
Share purchase would raise his direct holding in firm to 57.75%

By Melissa Tan

LOCAL food tycoon Sam Goi Seng Hui is set to pump an additional $14 million into mainboard-listed consumer goods distributor JEL Corp (Holdings), which is on the Singapore Exchange's (SGX) watch list.

Mr Goi, 62, will buy two billion ordinary shares in the company at 0.6999 cents apiece, JEL Corp told the SGX on Friday.

If his purchase goes through, these shares will make up around 50.3 per cent of the firm's enlarged share capital.

Mr Goi, known as the 'Popiah King' for building up frozen popiah skin maker Tee Yih Jia Food Manufacturing, already owns around 15 per cent - or nearly 296.4 million shares.

The latest share subscription would bring his direct holding in JEL to around 57.75 per cent. Mr Goi's purchase of the additional stake is subject to the Securities Industry Council granting him a 'whitewash waiver', the company noted in its filing.

This waiver removes his obligation to make a mandatory takeover offer for the remaining shares of JEL.

His purchase is also subject to shareholder approval at an extraordinary general meeting to be held later.

JEL Corp said Mr Goi's 'increased involvement in the company will be beneficial and strategic', citing his 'strong business connections, influence and expertise'.

It added that Mr Goi's agreement to subscribe to the shares would 'expand the group to a larger economic size and market capitalisation'.

This, in turn, would meet the minimum market capitalisation for the firm to qualify to be taken off the watch list, it stated.

Mr Goi said in a statement yesterday: 'JEL has a viable business in marketing and distribution of IT, photography and imaging products, as well as timepieces in Central Asia, the Middle East and Indochina. I think JEL has demonstrated good ability in handling various businesses in these developing markets, and believe that it can grow even more in China, where I intend to facilitate its growth.'

Last month, it was reported that Mr Goi would sell his 22.07 per cent stake in China Healthcare, the target of a buyout offer.

He also sold his 7 per cent stake in Asia Environment Holdings last year when its chief executive, Mr Wang Hongchun, bought out the China- based wastewater treatment company.

The proceeds from his JEL share subscription would be used for working capital and for potential opportunities for mergers and acquisitions, JEL Corp said.

It went on the SGX watch list in March 2010 after posting pre-tax losses for three consecutive financial years and its market cap fell to $11.9 million, below the $40 million watch-list threshold.

The counter rose 0.7 cents to 1.8 cents yesterday.

What a difference 1 day makes. Overnight, 64% up .... now 1.8 cents a share, despite the significant dilution from its plan to issue 2 b new shares to Sam Goi

From 0.4 cent X 125% = 0.9 cent. Now!

Lots of volume this morning (0.6 cent) but does anyone have any visibility on the biz fundamentals?

My friend is happy happy. JEL is up 50% from 0.4 cent to 0.6 cent. The market is gaining confidence becos Koh Boon Hwee, Sam Goi & Gilbert Ee (the CEO) whacked the excess rights which most shareholders declined to subscribe.

Be careful tho, the $ pumped in is peanuts to Koh Boon Hwee, Sam & maybe even Gilbert. So if JEL cannot turn around, this $ is nothing to these big fish but it would be a painful loss to small time retail investors.

All of a sudden the major shareholders have changed ---- literally overnight.

Sam Goi, Koh Boon Hwee, Gilbert Ee have seen their % holding soar because they got excess rights which most shareholders declined.

The crooked former CEO and founder, Eric Tan, didn't apply for his rights entitlement nor subscribed for excess rights -- his shareholding plunged from 40% to 8%.

Amazing .....my friend emailed me for comment on surprising result of rights issue.

The no-surprise part was only 27.5% of the rights share were subscribed for. This stock is at risk of delisting without an exit offer, in case you don't know. In other words, kena stuck.


The major surprising part was the people who subscribed also subscribed for excess rights such that the total subscription totalled 196.5% !!!!!

I don't think every subscriber also subscribed for excess rights, but those who did, did it in a major way. 

I can only venture that these people have strong confidence in the company (or made a big mistake pumping more money into the company).

Time will tell.

For now, all subscribers are in the money. They paid 0.35 cent for the rights shares while the stock closed at 0.6 cent on the market.

Those who subscribed for , and will be alloted,  excess shares are even more fortunate.
This is a narrow P&L angle though. These shareholders probably had bought their stock at much much higher prices over the past few years. JEL used to be trading at 20 cent level, according to my friend.

My friend stil holding JEL from the days when Wallstraits was a big fan of JEL. So long ago, and this stock has reached the point of near extinction now.

0.5 cent. Half a cent a share. My friend wanted to know what to do with a rights issue where he either subscribes at 0.35 cent a share or gets diluted massively. The rights are 4 for 1, so you can imagine how massive the diultion is.

These are very tough times for JEL, I told him. Company is on the watch list and needs to fulfill at least 1 condition or kena de-listed.

There is some profitablity that the company is showing, but it's just above water.

The only positive I can see is that the CEO is underwriting the rights issue -- whatever rights not subscribed, he will pick them up. Assuming zero take-up by others, he will fork out about S$5 m to sweep up everthing and then be 80% owner of JEL.

This guy is going to be either a hero or zero. We will know in the weeks ahead.

Looks like a win-win deal for JEL & Serial.

JEL stock is firm at 3.5 cents as it will be ‘rescued’ by capital injection of S$10.0 million from Serial.

Serial gets 833.3 million new shares of JEL Holdings at the price of S$0.012 – already in the money!!!

Bonus, bonus - JEL Holdings will grant Serial an option to subscribe for approximately 833.3 million additional JEL Shares at the exercise price of S$0.012 per share.

This stock is in top vol today with a 0.5 cent rise to 3 cents  --- I remember this biz was hit by a scandal and then was suspended for abt a year, and its Chairman's case is still with the courts.

Is the business (under new management) able to come back? Today there is some heavy buying. Anyone knows what is going on ?