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If my hunch is correct?https://www.reuters.com/companies/STRA.KL/financials
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Yes they're really being quiet about things. TechCom changed up their website a bit since the last time I posted about the TechCom and the Straits Inter Logistics Berhad connection. I am all but certain they are one in the same. I could be wrong but I don't think so. This is still what's left on both websites: Compare everything closely and hurry. There was much more but it got removed/changed. Definitely something substantial is in the works as far as I can tell.
https://www.straits-interlogistics.com/board-charter/
http://www.techcominc.com/vision_mission.html#chapter2
http://www.techcominc.com/vision_mission.html#chapter2
This is the McLaughlin & Stern, LLP address as well: http://www.techcominc.com/contact_us.html
McLaughlin & Stern, LLP Securities Counsel
OTCQX Sponsor
260 Madison Avenue
New York, NY 10016
Yes it could!
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Nice!.......one step closer to something????????
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Probably means nothing but it is interesting.
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ABOUT TechCom, Inc.
Techcom Inc, is an Oil and Gas Service Company with a vision to become complete oil & gas service provider for upstream and downstream sectors in South East Asia. Considered being the biggest sector in the world in terms of dollar value, the oil and gas sector is a global powerhouse using hundreds of thousands of workers worldwide.
Techcom Inc, focused in providing services in this following area, petroleum trading, geoscience and petroleum engineering, port services, bunkering, fabrication, environmental services, HSE consultancy, manpower services, oil tank management, storage and investment.
With Techcom Inc,'s team being the asset and core values of the Company, it generates multiple discipliners capabilities to provide solutions to its Client across the regions.
And here's the shake out. Probably gonna get worse?? You can sell if you want??
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Straits Inter Logistics Berhad (“Straits”) was incorporated in Malaysia under the Companies Act 1965 on 4 December 1996 as a private limited company under the name of Ruby Quest Sdn. Bhd. On 19 March 2004, Straits was converted into a public company under the name of Ruby Quest Berhad. Ruby Quest Berhad was listed on the MESDAQ Market of Bursa Securities on 30 May 2005 (now listed on the ACE Market of Bursa Securities under Straits). Read Less
On 22 June 2007, Ruby Quest Berhad changed its name to Envair Holding Berhad. This was followed by a corporate name change to Raya International Berhad on 2 July 2013, before the adoption of its present name, Straits Inter Logistics Berhad, on 20 June 2017. Straits was listed on the ACE Market of Bursa Securities (then known as MESDAQ Market of Bursa Securities) on 30 May 2005.
Straits is principally engaged in investment holding activities and the provision of management services.
Straits Group was established as manufacturers and traders of cleanroom filters and other water filtration products. Straits Group then expanded the trading of filtration-related products to include water filtration cartridges and charcoal fines and granules, and the trading and distribution of fast moving consumer products.
On 14 September 2015, Selatan Bunker (M) Sdn. Bhd. was incorporated as a subsidiary of Straits, with Straits holding a 51.0% stake in the company, to allow Straits Group to diversify into the oil trading and bunkering business segment. This was in line with Straits Group’s strategy to pursue a long term sustainable business model that would contribute to positive returns. Subsequently, Selatan Bunker (M) Sdn. Bhd. entered into a collaboration agreement with Tumpuan Megah Development Sdn. Bhd. on 29 December 2015, which was then supplemented on 6 March 2017 (“Collaboration Agreement”). This marked Straits Group’s foray into the oil trading and bunkering business segment.
In 2016, Selatan Bunker (M) Sdn. Bhd. was licenced under the Petroleum Development Act (“PDA”) 1974 (“PDA licence”) for bunkering services, allowing it to operate from the Port of Pasir Gudang / Johor Port and the Port of Tanjung Pelepas. Both the PDA licences were issued by the Ministry of Domestic Trade, Cooperative and Consumerism.
In 2017, Straits Group acquired two vessels, namely Sturgeon and Straits 1, to support its oil trading and bunkering business. The acquisition of these two vessels enhanced Straits Group’s competitiveness in the oil bunkering business by having its own operating vessels to generate revenues from marine bunker sales; allowed Straits Group to have greater control over its oil bunkering operations whereby vessel scheduling based on location and operations can be optimised based on its requirements for greater efficiency and productivity; and increased Straits Group’s bunkering capacity for its oil bunkering business to help ensure uninterrupted services to its customers, thereby mitigating the risk of cancellation of lease agreements for vessel chartering by its lessor or owner.
Looks to me like TechCom is a subsidiary of Straits Inter Logistics by looking at what's posted on Techcom website and some further digging that I've done. Let's see how it's all going to come together. That part I don't have figured out yet.
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From TechCom's website: In 2015, our subsidiary,Techcom INC., commenced oil trading and bunkering via a collaboration agreement with Tumpuan Megah Development Sdn Bhd. In 2016,Techcom INC. obtained the Petroleum Development Act License from Malaysia’s Ministry of Domestic Trade, Cooperative and Consumerism.
Bunkering services refers to the provision of marine fuels to ships, as well as other ocean faring vessels, such as oil tankers, container vessels, cargo vessels, cruise ships and ferries, as well as vessels utilised in the upstream oil and gas industry such as offshore support vessels, submersible and semisubmersible rigs and FPSO vessels. Bunkering can be broadly categorised into onshore bunkering and offshore bunkering, whereby marine fuel is typically pumped into vessels by refuelling vessels barges, product tankers or another ship in harbours, close to shore, or in open waters. Onshore bunkering involves the transfer of marine fuels on a shore-to-ship basis from an onshore facility, whereas offshore bunkering involves the transfer of marine fuels on a ship-to-ship basis.
Bunkering is essentially a marine logistics business, where industry growth is dependent on the volume of marine fuels distributed to end-users, which include amongst others, oil and gas vessels, marine cargo and bulk transporters, military and navy vessels. Thus, growth in global trade and marine transportation, increased activities in the upstream oil and gas industry, and supporting government policies will positively impact the bunkering services industry, benefiting industry players that offer bunkering services.
We currently own two vessels, namely Straits I and Sturgeon. We will continue to expand our fleet to fulfil business requirements and to best support customer needs.
Selatan Bunker (M) Sdn Bhd principally operates from the Pasir Gudang Port and Tanjung Pelepas Port.
https://safetyatsea.net/news/2018/malaysian-bunker-player-straits-inter-logistics-eyes-hk-market-with-acquisition/
Malaysian bunker supplier Straits Inter Logistics is moving into the marine fuel market in Hong Kong by acquiring a 38% stake in Banle Energy International. The publicly listed Straits Inter Logistics explained that the MYR15 million (USD3.6 million) acquisition would enable it to grow profits, based on Banle’s financial statements.
Formerly known as Raya International Bhd, Straits Inter Logistics was involved in water filtration until it was rebranded in 2017, after switching its focus to marine fuel trading.
The company commenced marine fuel trading through a subsidiary, Selatan Bunker (M) Sdn Bhd, which has a collaboration agreement with Malaysian physical bunker supplier Tumpuan Megah Development Sdn Bhd.
Selatan Bunker operates in Pasir Gudang and Tanjung Pelepas ports, using two bunker tankers.
Hong Kong is among the world’s five largest bunkering ports by sales volume, behind Singapore, Fujairah, and Rotterdam. This could explain Straits Inter Logistics’ investment.
Justifying its investment, Straits Inter Logistics said in a Bursa Malaysia filing that Banle recorded revenue of USD84,842,939 in the 12 months ended 31 July 2017, representing an increase of approximately 138%.
Banle’s net profit also grew by 51% over the same period to USD365,238.
One of Banle’s directors, Chia Teck Lim, was a director with Hong Kong-listed bunkering group Brightoil Petroleum, before founding the company with Liu Xiaoling in 2015.
https://www.theedgemarkets.com/article/straits-inter-logistics-commence-oil-bunkering-services-4q
KUALA LUMPUR (Aug 9): Ace Market-listed Straits Inter Logistics Bhd, formerly known as Raya International Bhd, expects to start its oil bunkering services by the early fourth quarter of this year following the acquisition of its first two vessels for RM6 million.
“Moving forward, Straits is positioning itself as a major marine logistics company in the provision of premium oil bunkering services to marine and cargo bulk transporters, oil and gas vessels, floating, production, storage and offshore (FPSO) vessels, cruise ships and ferries,” said Datuk Sri Ho Kam Choy, Straits executive director, said in a press statement issued after the launch of the brand’s new identity today.
Straits’ priority will be its oil bunkering operations in Pasir Gudang Port, Johor, although it is also looking to expand to Kemaman, Kuantan, and Labuan Port, according to the statement.
Besides bunkering services, Straits is also engaged in the trading and supply of oil products such as marine gas oil (MGO), to be supplied to ships anchored off the ports, for their own use, it said.
In November last year, the group announced the acquisition of the ‘Sturgeon’ vessel from Sturgeon Asia Ltd for RM3.2 million, and ‘Straits 1’ vessel from Straits Holdings Ltd for RM2.8 million.
The company had, in June, diversified its principal activity to include bunkering services to ships and other sea-faring vessels, and ownership of related assets for its bunkering businesses.
Straits' shares climbed 1.5 sen or 7.5% today to settle at 21.5 sen, after some 6.74 million shares were done, giving it a market capitalisation of RM56.11 million. Year to date, the stock has gained about 60%.
Looks like they might be trying to uplist as well. This thing could really get some traction with only 9.3 million in the float. We shall see. I expect a shakeout first before any upwards movement though.
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Oh looky looky here: http://www.techcominc.com/index.html
Oh wow nice, very nice! Looks like they haven't been sitting idle at all. Adding staff for a major expansion it would appear. Looking like we are gonna get there.......eventually.
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Nice find. Getting some pretty good action today. Wonder what that is all about?? Still no update from the company though. Hopefully soon!
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I've been here that long as well so anything even slightly positive is welcomed. There are two auditing firms listed that they are working with as well. Not sure why exactly. Up until a couple of days ago they were working hard at keeping this ticker SEC compliant. I think that still holds true but we shall see. New company name is being changed to TechCom,Inc according to recent filings. I have more that I dug up but will keep it to myself for the time being.
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For starters: McLaughlin & Stern, LLP
Securities Counsel
260 Madison Avenue
New York, NY 10016
212-448-6216
www.mclaughlinstern.com
Not really moving at all and there's issues with SEC compliance. They're having problems submitting quarterly financials and are in default status at the moment. Just wondering if this is where/when the dilution starts???? Gets pumped up a little then dump. Happened back in November last year. Would be a shame since all other indications are very positive.
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Got it thanks. I haven't gotten any reply from any of my emails over the last several months and don't expect a response privately (wouldn't mind though) but am hoping for a public update at least. His shares are not registered yet according to OTC Markets info. Those numbers just got updated last night. I was getting a little worried as they weren't updated in almost a week after being updated regularly on a daily bases for quite a while. Perhaps we'll see OTC being updated every day again???
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Looks like they didn't get their financials submitted in time and are now back in default status. The CEO holds tens of millions of shares so do we now see mass dilution next or what??
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Yes that is the one I was using as well.
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Out of curiosity, what email address are you using? Perhaps I have the wrong one??
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Well hopefully they're not just pumping this thing up just to dump shares like they did back on 11/08/2019. That would be a shame since all other indications look very promising.
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Okay cool thanks. I've email as well but haven't heard anything back
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Yes, looks like the new company name is TechCom, Inc. Not much else is know however as the company hasn't really communicated anything to shareholders. Just wondering if anyone out there knows what, if anything, is taking place with this ticker/company?????
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