DXN Naga | One World! One Market! One Code!: December 2024

Monday, December 2, 2024

SCAM

An investment scam is a fraudulent scheme designed to trick individuals into investing money with the promise of high returns, but the perpetrators either steal the funds or use them for purposes other than those stated.

These scams prey on people’s desire to grow their wealth and often use deceptive tactics to appear legitimate.

COMMON CHARACTERISTICS OF INVESTMENT SCAMS:

1. Guaranteed High Returns: Promises of unusually high or guaranteed returns with little or no risk.

2. Pressure Tactics: Scammers may push for immediate decisions, claiming the opportunity is limited.

3. Unregistered Investments: The investment may not be registered with appropriate regulatory bodies.

4. Lack of Transparency: Scammers provide little information about how the investment works or where the money goes.

5. Pyramid or Ponzi Schemes: Some scams involve paying returns to earlier investors using funds from new investors rather than actual profits.

6. Fake Credentials: Scammers may claim to be professionals or use fake licenses and endorsements.

COMMON TY0ES OF INVESTMENT SCAMS:

1. Ponzi Schemes: Returns to investors are paid using funds from new investors, rather than from profit earned.

2. Pyramid Schemes: Participants recruit others to invest, and profits are earned through recruitment rather than a legitimate business.

3. Pump and Dump Scams: Fraudsters artificially inflate the price of a stock and sell their shares at a profit, leaving others with losses.

4. Cryptocurrency Scams: Fake ICOs (Initial Coin Offerings) or fraudulent crypto investment platforms promising massive returns.

5. Offshore Investments: Scams involving foreign investments that promise tax benefits or high returns but are unregulated and risky.

HOW TO SPOT & AVOID INVESTMENT SCAM:

▪︎ Verify Legitimacy: Check if the company or individual is registered with financial authorities.

▪︎ Research: Look for reviews, complaints, and other red flags about the opportunity.

▪︎ Avoid Pressure: Legitimate investments do not require rushed decisions.

▪︎ Understand the Investment: Be clear on how the investment works and the risks involved.

▪︎ Seek Professional Advice: Consult a financial advisor or lawyer before committing.

If you suspect an investment scam, report it to your local financial regulatory authority or consumer protection agency.

Sunday, December 1, 2024

DXN IPO

DXN’s IPO oversubscribed by 3.2 times

MALAYSIA-BASED DXN Holdings Bhd’s IPO, involving the issuance of up to 932.68 million IPO shares in two parts, has been oversubscribed by 3.2 times by the Malaysian public.

DXN received a total of 12,146 applications for 420.12 million issue shares from the Malaysian public for the 100 million issue shares made available for application, representing an overall oversubscription rate of 3.2 times.

For the Bumiputera portion, a total of 4,765 applications for 92.93 million issue shares were received, representing an oversubscription rate of 0.86 times.

For the non-Bumiputera portion, a total of 7,381 applications for 327.19 million issue shares were received, representing an oversubscription rate of 5.54 times.

The 60 million issue shares made available for application by the directors of DXN, eligible employees of the group and persons who have contributed to the success of the group were fully subscribed.

For the institutional offering, the joint book-runners confirmed that the 772.68 million offer shares offered to Malaysian and foreign institutional and selected investors, including Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), were fully subscribed. The institutional price has been fixed at 70 sen per offer share.

DXN plans to raise RM121.6 million from its IPO by issuing 160 million new shares at an issue price of 70 sen per share. Majority of the funds raised (65.8%) will be used for repaying bank borrowings, followed by working capital (14.4%) and listing expenses (19.8%).

DXN is a company engaged in sales of health-oriented and wellness consumer products. It was previously listed on the Main Market in 2003 and was delisted in 2011 after being privatised by its founder Datuk Dr Lim Siow Jin.

Maybank Investment Bank Bhd and CIMB Investment Bank Bhd are the principal advisers and joint global coordinators, joint book-runners, joint managing underwriters and joint underwriters for DXN’s IPO. RHB Investment Bank Bhd and CLSA Ltd, together with CLSA Securities (M) Sdn Bhd, are also joint book-runners and joint underwriters, while the latter two are joint global coordinators for the IPO. — TMR

SOURCE:

https://themalaysianreserve.com/

Monday, May 15th, 2023 at Markets | News

Direct Seller DXN to Charter Corporate Jet for RM27M

DIETARY supplement direct seller DXN Holdings Bhd is chartering a corporate jet for one year at the rate of US$6.15 million (RM27.1 million) if it uses its own pilots. This works out to around RM2.3 million a month.

Its wholly-owned subsidiary DXN Aero Nautic Sdn Bhd has entered into an aircraft charter agreement with charter carrier Luxaviation San Marino Srl and charter manager ExecuJet Asia Pte Ltd to charter a Gulfstream G550 corporate jet for one year, the company said in an exchange filing today (Nov 7).

It said the subject aircraft to be chartered by DXN Aero was currently owned by LSJ Logistics Ltd, a wholly-owned subsidiary of LSJ Global Sdn Bhd, which is also a major shareholder of the company. Hence, it noted that the deal was deemed to be a related party transaction.

LSJ Global, the vehicle of DXN chairman and founder Datuk Lim Siow Jin (picture), is DXN’s largest shareholder with a 68.27% stake.

LSJ Global owned 3.58 billion shares or a 74.3% stake in DXN prior to its IPO in April 2023. DXN was first listred on the main market of Bursa Malaysia in 2003 before being taken private in December 2011.

In its charter agreement, DXN Aero Nautic, formerly known as DXN Biofuels Sdn Bhd, has committed to a minimum of 300 flight hours for the 12-month period at the rate US$22,000 per flight hour or US$20,500 per flight hour, in the event the lessee’s own pilots are operating the aircraft.

At minimum flight hours, that works out to US$550,000 per month based (US$6.6 million for the whole year) or US$512,500 per month (US$6.15 million for the whole year) if flown by its own pilots.

In the exchange filing, DXN said it intended to employ its own pilots to operate the aircraft. As of Oct 23, the company had two pilots on staff.

“The two different rates provide the company with flexibility to utilize the charter manager’s pilots, in the event of pilot shortage. This arrangement allows the company to maintain seamless operations while minimizing the costs associated with hiring additional full-time pilots,” it said.

DXN Aero’s principal activities are the provision of management logistical and marketing services.

For the first six months till Aug 31, 2024, the DXN company has posted a net profit of RM151.5 million on a turnover of RM963.5 million.

DXN shares ended the day at 56.5 sen, its lowest in 52-weeks, valuing the company at RM2.8 billion.

SOURCE:

https://themalaysianreserve.com/