Cryptocurrencies

Preference Shares in Malaysia – Takeover of IGB Corporation by Goldis

By Leigh Updated February 10, 2018 10

What are Preference Shares?

The first thing that comes to mind to most Malaysians when Preference Shares / Preferred Stocks are mentioned is dividends. We will expect a higher rate of dividends compared to Ordinary / Common Shares. However, apart from dividends, there exist several other key features contained in a Preference Share.

If and when a company is insolvent, preference shareholders are entitled to be paid from assets of the company first, before ordinary shareholders;
Most preference shares have a fixed (and higher) dividend rate; and
Preference shareholders typically do not have voting rights.

IGB Corporation Berhad’s Takeover by Goldis Berhad – Free Tickets to the Show

A huge part of why I’m doing this introduction on Preference Shares is because I’m actually electing to receive Preference Shares in lieu of cash / ordinary shares when Goldis takes over IGB Corp (a company I’ve invested in).

So this is your ticket to actually see how a corporate takeover works and more importantly, join me as I take my first step into the world of Preference Shares.

I’ll of course, be updating this periodically.

A Brief Introduction

Goldis Berhad actually owns 73.40% of IGB Corp and a takeover has been on the books for a long time. A takeover offer can be made to other shareholders if you own more than 50% of a company.

To make this easier to understand, I’ll be using my own shareholdings as an example. I own 4,000 shares of IGB Corp, bought at RM2.87 per share.

Take note that IGB Corp closed at RM2.97, the trading of shares has since been suspended. The shares of IGB Corp have been valued by Goldis at RM3.00 per share during the takeover exercise.

There are 3 ways for me, as an IGB Corp investor to cash out from this takeover.

I receive 100% Cash (RM3.00 per share). I’ll receive RM12,000 in cash and make an instant gain of RM520 (A 4.5% gain)
I receive 30% in Cash and 70% in Goldis Shares. I’ll receive RM3,600 in cash and 2,800 units of Goldis Shares which are going for RM3.10 per share as of today. (A 6.96% gain)
I receive 12% in Cash and 88% in New Redeemable Convertible Cumulative Preference Shares (RCCPS). I’ll receive RM1,440 in cash and 3,219 units of new Preference Shares valued at RM3.28 each. (No gain)

As you may well have guessed, I opted for Option 3.

IGB Corp Goldis RCCPS — *Option 3 – RCCPS (Don’t forget to affix your RM10 Revenue Stamp and enjoy the post office queue)*

Details of the Preference Shares or RCCPS Scheme

Tenure: 7 years

Dividend Rate: 4.3% (semi-annual payment)

Redeemable: Goldis Berhad can purchase/buy back the preference shares from and including the 4th anniversary of the issue date up to the maturity of the 7-year period.

Convertible: 1 preference share can be converted to 1 ordinary share at any time during the 7-year period.

Cumulative: If and when there are any missed dividend payments, they are to be paid at a later date by Goldis. ie. it’ll be owing to preference shareholders until the tenure of 7 years.

In Summary

4.3% Dividend Rate

With the RCCPS option, I’ll receive a FIXED return of 4.3% on my 3,219 units of preference shares at RM3.28 each. That’s RM454 every year for 7 years. In contrast, Goldis Berhad’s dividend yield is less than 1% currently.

The Redemption

I will be holding onto my preference shares for a minimum of 4 years. After which, Goldis will have the option to Redeem and buy back the shares at their discretion.

This is the only part of the whole exercise that worries me as I would like to hold onto those shares for as long as I can, and at the end of it all, convert them back to ordinary Goldis Shares.

But! Historically, Goldis has not redeemed their existing RCCPS and it matures in 2020. If that’s anything to go on.

I’ll just have to keep an eye out after the 4th year for any news of redemption.

End.

I hope I’ve managed to help some of the IGB Corp investors here clear up most of the issues and queries you have regarding the whole takeover exercise.

In short, and after my analysis, the RCCPS option is the way to go. The 100% cash option is the worst, so please don’t go that route. If you want cash, go for Option 2, and sell your Goldis shares after.

If you’ve got any other questions regarding this or if I’ve made any mistakes (I’m a 100% new to this), please do get in touch in the comment section below or on Facebook.

Thank you for reading and enjoy them Preference Shares!

Bitcoin and Genesis Mining ROI in Malaysia – September & October Update

By Leigh Updated December 30, 2017 14

Cloud Mining on Genesis

Genesis is back and its daily payouts are as scheduled. They have however raised their minimum payout threshold to the following:

Bitcoin 0.0025 BTC (was 0.0020)
Litecoin 0.002 LTC (was 0.001)
Zcash 0.001 ZEC (was 0.00005)

I’ve also increased my mining powaaa in November.

Genesis Mining Allocation Dec'17 — *Genesis Mining Allocation Dec’17*

I’ve doubled my Bitcoin, Zcash and Monero mining rates. Also increased Ether’s. The next objective is to increase Ethereum’s mining power as I see great potential in the currency.

Return on Investment (ROI), This is Getting Big

Dividend Magic's Cryptocurrency Portfolio 2017 — *Dividend Magic’s Cryptocurrency Portfolio 2017*

I have to admit that I’ve kinda lost track of my Bitcoin returns. I mine it personally on my PC as well as on Genesis. But here is my total returns for 2017.

My cryptocurrency portfolio jumped from USD171.34 in October to USD628.59 today, in a short span of 2 months. Of course, this is mainly due to the recent hype in all things crypto.

Mining of crytocurrencies started out as a small personal project for me back in July this year. I started out with USD93.20 back then on Dash contracts. I’ve not put in additional money, all of my proceeds from mining has been reinvested into more mining contracts.

I should get back my initial investment of USD93.20 from Dash contracts alone next year.

NiceHash Miner Hacked

I’m sure most here are privy to the recent hacking of NiceHash. I myself have lost a chunk of unclaimed Bitcoins from mining with them. It is frustrating but I fear I will never see those coins ever again.

End.

My cryptocurrency portfolio currently stands at USD628.59, fluctuating every other minute as we see the currencies swing up and down.

To those that are invested, I’d recommend ignoring the swings and focusing on real, credible news. Think logically and remember, investing is always for the long term.

To those that are interested in getting in on the action, I’d suggest:

Cloud Mining – I go with Genesis
Purchasing and holding onto your currencies. I use Luno (My promo code: HFCCY)
If you’ve got a good PC lying around, try mining it yourself using NiceHash!

If you’re planning to purchase mining contracts with Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

A big thank you to everyone that has been using my referral code. I’ve received many many additional hash power thanks to you.

Onwards and upwards! May the currencies swing in your favor

Bitcoin and Genesis Mining ROI – September & October Update

By Leigh Updated October 27, 2017 0

Cloud Mining on Genesis

Apologies for the delayed update everyone. Last I checked, Genesis has been back to their daily payout schedule. Currently, I’m mining Dash, Bitcoins and Ether. All other alt coins’ mining power has been utilised to mine Bitcoins.

I cry every night on the missed opportunity when Bitcoins were selling at the $3,300 to $3,500 range. As most of you would know, it is at $6,000 now.

That being said, mining it has been reaping my huge returns.

Return on Investment (ROI)

Before you get all excited, the returns are not 100% from mining, a portion of it is mined personally by yours truly. I make use of the hardware from my office and just let the program run in the background.

My daily estimated earnings hover around the $1 per hour range. It’s a slow climb.

Dash Mining Contracts – ROI 86.5%

I started investing in Dash contracts back in July which cost USD93.20. 3 months later today, my Dash mining ROI has dropped to 86.5% p.a. I’d attribute the drop in ROI to the fall in Dash prices. Still, 86.5% in returns is still very, very substantial.

Bitcoin Mining Contracts

Ok, so I’ve messed up with Bitcoins here. It’s getting difficult for me to track what portion of my returns are from Genesis’ open-ended Bitcoin mining contracts and which are from my own personal mining. But the returns are definitely HUGE because of Bitcoin’s increase in value. I estimate that about 30% of the Bitcoins in my portfolio are mined personally.

NiceHash Miner

The program I use to mine personally is called NiceHash. It is free to use and eats up your PC’s GPU which in turn consumes your electricity. The interface is very user-friendly and if you’ve got a spare PC lying around at home, play around with it. But be aware of the spike in your TNB bill (Disclosure – I own TNB shares XD).

End.

So there you have it, between my Genesis mining contracts and personal mining skills, I’ve more than paid for my initial investment in Dash contracts. It’ll be pure profits from here on out. Although at my company’s expense in electricity.

If you’re planning to purchase mining contracts on Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

I’d also like to sincerely thank everyone again that has been using my referral code. I’ve received many many additional hashpower thanks to you.

Onwards and upwards!

Genesis Mining ROI – August Update

By Leigh Updated August 22, 2017 20

Cloud Mining on Genesis

So it’s been a month since my last update in July. I’ve moved on from Dash to Bitcoins. I’m still keeping my previously purchased Dash contracts but moving forward, I’ll be buying Bitcoin contracts.

Why the move? Bitcoin contracts on Genesis are open-ended, meaning it is perpetual, provided it is profitable throughout. This means you can in theory pay once and mine forever.

I have seen Bitcoin’s meteoric rise in price recently and the surge in profits from its mining contracts. As a dividend investor, I’d prefer a slow and steady increase, but who’s complaining?

Return on Investment (ROI)

Dash Mining Contracts – ROI 160%

Above is the return from my investments in Genesis mining. I started investing in Dash contracts about a month ago which cost USD93.20. So far, in a month, I’ve managed to earn USD12.70. That’s an estimated 160% return per annum. I’ll hopefully be getting back all my capital in another 6 months. Pure profit from there.

Bitcoin Mining

You’ll also notice my USD19.48 in Bitcoins. Those are mostly from my own personal mining through my computer at home and at work. I’m earning about USD1.50 a day from there. As mentioned earlier, I’ve also purchased Genesis’ open-ended Bitcoin mining contracts. If you believe in Bitcoin’s future value, invest in their contracts.

End.

If you’re planning to purchase mining contracts on Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

I’d also like to sincerely thank everyone that has been using my referral code. I’ve received some additional hashpower thanks to you.

Onwards and upwards! Let me know how mining has been for you all!

Genesis Mining ROI and Other Updates

By Leigh Updated July 21, 2017 15

Cloud Mining on Genesis

As promised, here’s an update on my 2-year Dash(x11) mining contract with Genesis Mining. But first, I’d like to thank everyone for the love and using my promo code – KT7r1S (it gives you a 3% discount upon purchase by the way).

If you’re perplexed and utterly confused by everything I’ve just said, head over to my previous post – Bitcoin Cloud Mining in Malaysia.

Now, the update!

ROI on Genesis – Cloud Mining Dash (x11)

I’ll be using the payout on 20th July because the one on 19th includes mining from when I signed up on the 18th.

As of right now, Dash is valued at USD 186.69. That gives me about USD 0.247 per day and USD 90.29 per annum from mining. I spent USD 93.20 purchasing the 2 year contract. That’s an ROI of around 96.8% pa.

Of course, all this is provided the price and mining difficulty remain constant. Which won’t.

Now, this ROI will increase when I purchase the USD500 contract as you get more MH/s per USD. I’m limited to the current one because Genesis has a USD per day limit for Dash x11 contracts (due to the huge demand). Nevertheless, I’ve still been adding and purchasing more Dash mining contracts because I do see Dash’s potential in the future.

I’m really loving Ethereum as well. I’ll be adding more mining power for Ether next month. For now, I’ve been slowly accumulating Dash (x11) and I’m currently almost reaching 50 MH/s. Still waiting for their USD100 per day limit to be lifted so I can get that USD500 for 100MH/s contract.

With the promo code – KT7r1S , I’ll be paying USD485 for 100MH/s. This will be the most value for money in terms of dollars paid per MH/s.

Storing my Coins

Because I’m mining alternative coins like Dash (x11) and Ethereum, I opted to store them on a multi wallet. I use Exodus. Their UI is awesome.

So after transferring and storing my alt coins on Exodus, I’ll then move it to a more local (Malaysian friendly wallet) – Luno.

Enter my promo code: HFCCY. You can still enter the code after signing up. Inside your account as shown in the picture below. We will both benefit from this. It isn’t much, after buying RM250 or more on the site, we will both get RM5. It’s something.

Luno Promo code - HFCCY — *Luno Promo Code – HFCCY*

End.

As mentioned earlier, the next big purchase would be Dash (x11)’s USD485 for 100MH/s mining contract. Thereinafter, I’ll be focusing on Ether mining and then reinvesting my returns. In the long run, turning my alternative coins into Bitcoins will be the goal. From there, it’s long term holding of Bitcoin. I’ll have to get used to holding an asset that doesn’t pay interest.

All that being said, the Freedom Fund is doing really well. Hopefully, this exciting little mining venture will pay off in the next 2 years and provide additional funds to be invested in stocks.

Have you purchased any mining contracts with Genesis Mining or are planning to? Hope to hear from my fellow miners. Use promo code – KT7r1S for a small 3% discount.

A warning to everyone, cryptocurrencies in and of itself are extremely volatile and risky. Cloud mining adds to that risk because you’re placing your money with a company and trusting them to continue mining for the foreseeable future. As always, invest at your own risk!

Bitcoin Cloud Mining in Malaysia

By Leigh Updated July 21, 2017 36

Cryptocurrency in Malaysia

If you’ve heard of bitcoin, you would be privy to its meteoric rise in value. If you could go back to 2010 and buy $1,000 worth, it would be worth an estimated $20 million right now.

I won’t be spending too much time explaining cryptocurrencies and Bitcoin here, an awesome guide has already been created by my friends Suraya from Ringgit Oh Ringgit and Aaron from Mr-Stingy.

Instead, I’d like to talk about something I’ve recently invested in – Cloud Mining! Also, we will not limit ourselves to only Bitcoin but other currencies out there as well.

Bitcoin Mining

So first thing’s first, what does mining these currencies entail?

From my understanding and to put it in layman’s terms…

Mining – like mining for gold. You do some work, and you hope to turn up something valuable. In this case, it’s bitcoins.

Mining computers and equipment everywhere in the world are taking in and recording Bitcoin transactions from around the world. They’re making sure that everybody has enough money to complete the transactions, and then they’re adding them to the list of all the bitcoin transactions that have ever happened.

Cloud Mining

The main difference between traditional mining and cloud mining lies in who houses and maintains the mining hardware.

With traditional mining, you buy, set up and maintain the mining rigs. This requires extensive technical knowledge as well as adequate ventilation for cooling and will result in an increase in electricity costs.

On the other hand, with cloud mining, the mining rigs are housed and maintained in a facility owned by the mining company. The customer simply needs to register an account and purchase mining contracts or shares.

These mining contracts immediately start mining your cryptocurrency which is paid out to the user on a regular basis. The user does not have to concern him/herself with ordering, setting up or maintaining the mining hardware. Nor is the user required to fork out a substantial sum as initial mining investment. For as little as USD50, he/she can begin cloud mining.

My Investment

Just today, I’ve started venturing into cloud mining to test the waters. After some tedious research, I’ve decided to go with Genesis Mining. Why? Because they are the largest in the world.

I guess I like having a sort of safety net by investing in the biggest.

Also, with Genesis, they have regular daily payouts and low maintenance fees.

From my research, I found mining alt coins like Dash (x11) to be more profitable. I intend to keep the currency and reinvest them into more raw MINING POWER! Eventually, exchanging them to all time reigning – Bitcoin. Why? Again, because they are the largest.

Cloud Mining Malaysia — *My Order – Use code promo code* **KT7r1S (3% off)**

Cloud Mining Malaysia Pricing — *Genesis Dash Pricing*

Return on Investment (ROI)

I’m still waiting for the payout figures from Genesis. Updated figures will be published here for everyone that is interested.

I spent USD93.20 for that 15 MH/s of mining power. Initially, I wanted to go for the USD500 one for 100 MH/s but they’re limiting the amount to below USD100 per transaction.

Just a test run for now to familiarize myself with everything.

Risks

The main risk I’ve identified with Cloud Mining (as with everything else) is the price as well as the mining difficulty. It gets increasingly difficult to mine coins as the number of transactions goes up and more and more people get into mining.

My USD93.20 lasts for 2 years. At current rates, I expect a full ROI in a year (I’m being conservative). However, if the price of my coins drop below the threshold of which I’ll be able to make a profit, I’ll then be stuck with a 2-year mining contract making a loss.

Getting Started

Cloud Mining on Genesis

It was pretty straight forward for me, I headed over to Genesis, registered for an account. Proceeded to select my package and paid with my credit card.

If you’re using Genesis as well, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

Storing my Coins

Because I’m mining alternative coins like Dash (x11) and Ethereum, I opted to store on a multi wallet. I use Exodus. Their UI is awesome by the way.

So after, transferring and storing my alt coins on Exodus, I’ll then move it to a more local (Malaysian friendly wallet) – Luno.

End.

I know this is a move away from my usual investments in shares. However, as it is an (very risky) investment nonetheless for me, I’ve decided to put up a post on it.

I’ll probably be spending about RM5 – RM10K if all goes well with my initial investment.

I’m prepared to lose this money at the time of writing.

A big thank you to Suraya from Ringgit Oh Ringgit for showing me the ropes and answering my newbie questions.

Thank you for reading!

Cryptocurrencies

What are Preference Shares?

IGB Corporation Berhad’s Takeover by Goldis Berhad – Free Tickets to the Show

A Brief Introduction

Details of the Preference Shares or RCCPS Scheme

In Summary

4.3% Dividend Rate

The Redemption

End.

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Cloud Mining on Genesis

Return on Investment (ROI), This is Getting Big

NiceHash Miner Hacked

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Cloud Mining on Genesis

Return on Investment (ROI)

Dash Mining Contracts – ROI 86.5%

Bitcoin Mining Contracts

NiceHash Miner

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Cloud Mining on Genesis

Return on Investment (ROI)

Dash Mining Contracts – ROI 160%

Bitcoin Mining

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Cloud Mining on Genesis

ROI on Genesis – Cloud Mining Dash (x11)

Storing my Coins

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Cryptocurrency in Malaysia

Bitcoin Mining

Cloud Mining

My Investment

Return on Investment (ROI)

Risks

Getting Started

Cloud Mining on Genesis

Storing my Coins

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