Capital Call & Dilution
Source: https://coachadib.com/module/6ac0bacd393932911a858be5
Automatic full-length draft. Uncertain wording and figures require review.

[00:00:00.270 – 00:00:27.090] Capital Call dan juga Dilution kena sepak teranjang dengan partner. Haa ni benda ni awak kena belajar. Kang awak yang kena tersepak kang. Dilution ni apa guys? Dilution ni adalah pencairan saham. Saham awak katakanlah 30%, 40% dengan 30%. Tiba-tiba ada satu orang baru nak masuk 10%. Maka semua orang ni akan drop sikit. Dia akan dicairkan sikit. Lebih kurang macam itulah. Mungkin dia ni jadi 27%.

[00:00:28.050 – 00:00:30.430] Dia ni akan jadi mungkin 36%

[00:00:30.430 – 00:00:33.610] Dia ni mungkin akan jadi 27%

[00:00:33.610 – 00:00:35.810] Dan masuklah orang baru 10%

[00:00:35.810 – 00:00:37.210] So, bila awak tambah semua ni

[00:00:37.210 – 00:00:38.770] Dapatlah 100%

[00:00:38.770 – 00:00:40.130] Sebab sebelum tu

[00:00:40.130 – 00:00:42.950] Yang ni total semua ni adalah 100%

[00:00:42.950 – 00:00:44.290] Kan, asalnya yang ni 100%

[00:00:44.290 – 00:00:45.930] So, ini orang baru nak masuk

[00:00:45.930 – 00:00:46.990] Katalah nama dia Ameh

[00:00:46.990 – 00:00:47.670] Ameh nak masuk

[00:00:47.670 – 00:00:48.670] Itu adalah cair

[00:00:48.670 – 00:00:51.190] Maksudnya, awak terpaksa mencairkan

[00:00:52.290 – 00:00:53.310] Peratusan saham awak

[00:00:53.310 – 00:00:55.910] Company keluarkan saham baru untuk tambah modal

[00:00:55.910 – 00:00:58.050] share akan berturun dan jadi cair

[00:00:58.750 – 00:01:00.210] contohnya yang ni saya tengok contoh

[00:01:00.210 – 00:01:02.110] Abu letak RM6,000

[00:01:02.110 – 00:01:04.830] Ali letak RM4,000, total modal kita RM10,000

[00:01:04.830 – 00:01:06.170] paid up capital, modal

[00:01:06.170 – 00:01:08.290] pemulaan syarikat RM10,000, 10 unit

[00:01:08.290 – 00:01:09.090] share kita keluarkan

[00:01:09.870 – 00:01:12.170] 1 unit share, RM1, ni standard lah

[00:01:12.170 – 00:01:14.030] maksudnya company akan buat memang

[00:01:14.030 – 00:01:15.910] 1 unit, standard RM1, senang kira

[00:01:15.910 – 00:01:17.570] so Abu dapat

[00:01:17.570 – 00:01:19.630] RM60,000, Ali dapat

[00:01:19.630 – 00:01:21.410] RM60,000, jadi kita kira kat sini

[00:01:21.410 – 00:01:22.910] ada RM10,000 unit

[00:01:22.910 – 00:01:24.830] ada 2 orang director

[00:01:24.830 – 00:01:26.970] so yang 60% ni akan dapat

[00:01:26.970 – 00:01:27.870] 6,000 unit lah

[00:01:28.510 – 00:01:30.330] yang 40% akan dapat

[00:01:30.330 – 00:01:32.250] 4,000 unit share

[00:01:32.250 – 00:01:33.610] tiba-tiba

[00:01:34.790 – 00:01:36.670] company macam nak

[00:01:36.670 – 00:01:38.110] duit tapi tak nak buat loan

[00:01:38.110 – 00:01:40.690] dia nak jual share, dia nak duit tapi

[00:01:40.690 – 00:01:42.250] tak nak buat loan, kalau buat loan kena bayar balik

[00:01:42.250 – 00:01:44.290] kalau jual share company tak payah bayar balik

[00:01:44.290 – 00:01:46.610] jadi Amir dia nak

[00:01:46.610 – 00:01:48.150] invest 50k

[00:01:48.150 – 00:01:49.870] dia nak beli saham baru

[00:01:49.870 – 00:01:52.470] so Abu Ali pun sepakat, okey lah boleh lah

[00:01:52.470 – 00:01:54.590] kita nilaikan kembali kita ni 500,000 lah

[00:01:54.590 – 00:01:55.770] padahal modal tadi

[00:01:55.770 – 00:01:56.310] RM10,000 je

[00:01:56.310 – 00:01:57.410] tapi sebab sale dah naik

[00:01:57.410 – 00:01:57.830] dah banyak

[00:01:57.830 – 00:01:58.750] dia dah belajar valuation

[00:01:58.750 – 00:01:59.870] dia dah ada profit

[00:01:59.870 – 00:02:00.970] dia value-kan RM500,000

[00:02:00.970 – 00:02:02.450] so bila dia value-kan

[00:02:02.450 – 00:02:03.350] RM500,000

[00:02:03.350 – 00:02:04.070] dia kata

[00:02:04.070 – 00:02:04.290] ok

[00:02:04.290 – 00:02:05.550] kalau kau nak beli

[00:02:05.550 – 00:02:06.870] 10%

[00:02:07.450 – 00:02:08.170] RM50,000

[00:02:08.950 – 00:02:09.770] so cantik lah

[00:02:09.770 – 00:02:10.610] kau masuk RM50,000 lah

[00:02:10.610 – 00:02:11.470] aku bagi kau 10%

[00:02:12.370 – 00:02:13.450] so Amir pun kata

[00:02:13.450 – 00:02:14.510] ok aku dah tengok

[00:02:14.510 – 00:02:15.170] audit report semua

[00:02:15.170 – 00:02:15.590] aku setuju

[00:02:15.590 – 00:02:16.150] memang betul lah

[00:02:16.150 – 00:02:16.550] value dia

[00:02:16.550 – 00:02:17.050] thank you lah

[00:02:17.050 – 00:02:17.750] bagi discount sikit

[00:02:17.750 – 00:02:18.510] patutnya harga dia

[00:02:18.510 – 00:02:19.010] RM6,000

[00:02:19.610 – 00:02:20.090] kan

[00:02:20.090 – 00:02:21.650] tapi dia bagi discount lah

[00:02:21.650 – 00:02:22.170] lebih kurang eh

[00:02:22.170 – 00:02:22.890] cincang kira

[00:02:23.790 – 00:02:25.290] Amir setuju dengan valuation

[00:02:25.290 – 00:02:26.230] That nilai 50k

[00:02:26.230 – 00:02:27.550] Nilai unit share naik

[00:02:27.550 – 00:02:29.290] Daripada RM1 jadi RM45

[00:02:29.290 – 00:02:30.150] Kenapa?

[00:02:30.890 – 00:02:31.610] Sebab

[00:02:31.610 – 00:02:33.910] In order untuk memasukkan

[00:02:33.910 – 00:02:35.510] Orang tadi tu

[00:02:35.510 – 00:02:37.570] Syarikat kena terbitkan saham extra

[00:02:37.570 – 00:02:39.510] Dia jadi RM10,000

[00:02:40.330 – 00:02:41.050] Plus

[00:02:42.870 – 00:02:43.590] RM111

[00:02:43.590 – 00:02:47.590] Maksudnya ada RM11,100

[00:02:48.870 – 00:02:50.210] Satu unit share

[00:02:50.950 – 00:02:52.090] Kenapa nak buat macam ni?

[00:02:52.090 – 00:02:53.050] Sebab barulah

[00:02:54.510 – 00:02:56.070] Pening pula satu-satu ni banyak

[00:02:57.450 – 00:02:58.130] Satu

[00:02:58.130 – 00:02:59.830] Satu-satu

[00:02:59.830 – 00:03:01.090] Satu

[00:03:01.090 – 00:03:01.930] So, 11,000

[00:03:01.930 – 00:03:04.510] Ini yang new share diterbitkan

[00:03:04.510 – 00:03:06.910] Sebab barulah bila kita kira balik

[00:03:06.910 – 00:03:08.710] Satu-satu-satu-satu

[00:03:08.710 – 00:03:11.450] Bahagi dengan satu-satu-satu-satu

[00:03:11.450 – 00:03:12.510] Equal

[00:03:12.510 – 00:03:13.670] 10%

[00:03:13.670 – 00:03:14.690] Betul lah

[00:03:14.690 – 00:03:16.290] Jadi, apa yang berlaku

[00:03:16.290 – 00:03:18.490] Orang ni, dia beli

[00:03:21.310 – 00:03:22.310] 1101 saham

[00:03:22.930 – 00:03:26.490] Dengan harga RM50,000

[00:03:26.490 – 00:03:27.410] Wish, mahal gila

[00:03:27.410 – 00:03:30.860] So, berapa nilai satu saham?

[00:03:31.000 – 00:03:32.520] Awak buat kalkulation, tak awak dapat

[00:03:32.520 – 00:03:33.780] Satu saham nilai RM40

[00:03:34.520 – 00:03:35.480] Itulah nilai dia

[00:03:39.030 – 00:03:40.790] Betul tak? Cuba kira-kira kereta

[00:03:44.270 – 00:03:45.090] RM50,000

[00:03:45.910 – 00:03:47.530] Bahagi satu, satu, satu, satu

[00:03:53.170 – 00:03:54.150] RM45, betul kan?

[00:03:54.310 – 00:03:54.990] RM45 lah

[00:03:54.990 – 00:03:56.810] So, nampak? Daripada tadi

[00:03:57.310 – 00:03:58.190] Satu unit

[00:03:59.270 – 00:04:00.010] Unit tadi

[00:04:00.010 – 00:04:04.420] RM 1 ringgit

[00:04:04.420 – 00:04:06.320] dia dah naik jadi 1 unit

[00:04:07.400 – 00:04:08.080] RM

[00:04:08.080 – 00:04:09.840] RM 45 ringgit

[00:04:09.840 – 00:04:11.960] sebab awak terbitkan share baru

[00:04:11.960 – 00:04:14.140] dan share baru yang awak terbitkan ni

[00:04:14.140 – 00:04:16.280] ada orang sanggup beli dengan harga RM 50,000

[00:04:17.360 – 00:04:18.040] nampak?

[00:04:18.180 – 00:04:19.920] tetapi sayangnya

[00:04:19.920 – 00:04:21.380] terpaksalah dilute

[00:04:21.380 – 00:04:24.140] maka apa yang berlaku, berdilution pencairan

[00:04:24.140 – 00:04:25.180] saham terpaksa berlaku

[00:04:25.180 – 00:04:27.620] Abu daripada 60% kena drop

[00:04:27.620 – 00:04:29.520] 60% jadi 54%

[00:04:29.520 – 00:04:31.860] Ali daripada 40% kena drop

[00:04:31.860 – 00:04:33.700] Untuk memberi ruang pada Amir

[00:04:33.700 – 00:04:35.100] Tapi adakah Ali dan Abu

[00:04:36.000 – 00:04:36.820] Sedih tak?

[00:04:37.200 – 00:04:39.180] Sebab nilai yang diorang pegang masih sama

[00:04:39.180 – 00:04:40.980] Cuma beza dia jadi macam ni

[00:04:41.800 – 00:04:42.680] Dia jadi

[00:04:42.680 – 00:04:45.560] 54 equal 6,000

[00:04:46.200 – 00:04:47.560] Nampak? Sama kan 6,000

[00:04:47.560 – 00:04:48.620] Tak berkurang

[00:04:49.880 – 00:04:50.960] 36%

[00:04:51.640 – 00:04:52.740] Equal 4,000

[00:04:53.980 – 00:04:55.060] 10%

[00:04:55.060 – 00:04:56.200] Equal

[00:04:57.120 – 00:04:58.180] 1,1,1

[00:04:58.180 – 00:05:04.020] tu. Dia jadi macam ni. So, dia akan dicairkan. Okay. Itulah

[00:05:04.020 – 00:05:06.400] maksudnya dilution. Dan dilution ni adalah benda yang

[00:05:06.400 – 00:05:09.960] okay, bagus. Kalau tak salah guna. Kalau salah guna, dia akan

[00:05:09.960 – 00:05:14.100] jadi kena sepak terajang daripada partner. Biasanya

[00:05:14.100 – 00:05:17.200] capital call. Okay. Capital call ni adalah permintaan rasmi

[00:05:17.200 – 00:05:20.100] syarikat untuk tambah modal. Tambah topak duit dalam

[00:05:20.100 – 00:05:23.140] syarikat. Okay. Bayangkan. Awak punya valuation company awak

[00:05:23.140 – 00:05:24.900] adalah sebanyak RM

[00:05:25.980 – 00:05:26.940] RM100,000

[00:05:28.120 – 00:05:29.200] tiba-tiba

[00:05:29.920 – 00:05:31.020] 60%

[00:05:31.020 – 00:05:32.200] daripada board

[00:05:32.200 – 00:05:34.200] of director, awak bersetuju

[00:05:34.200 – 00:05:35.140] untuk

[00:05:36.420 – 00:05:37.900] invest pada satu projek

[00:05:37.900 – 00:05:40.820] investment pada satu projek ni nak kena top up

[00:05:40.820 – 00:05:42.420] RM1,000,000

[00:05:43.260 – 00:05:44.480] awak dekat sini

[00:05:44.480 – 00:05:46.500] dengan valuation ni, awak own

[00:05:46.500 – 00:05:48.120] 40%

[00:05:48.120 – 00:05:50.220] mamat ni setuju untuk naikkan modal

[00:05:50.220 – 00:05:52.520] so awak kena follow lah patutnya

[00:05:52.520 – 00:05:53.720] Kalau 1M

[00:05:54.260 – 00:05:55.780] Patutnya awak kena invest berapa

[00:05:55.780 – 00:05:57.220] Awak kena invest RM200,000

[00:05:57.220 – 00:05:59.160] Member sebelah ni invest RM600,000

[00:05:59.760 – 00:06:01.480] Masalahnya awak tak ada duit RM200,000 tu

[00:06:02.000 – 00:06:02.900] Awak pun kata

[00:06:02.900 – 00:06:03.900] Eh aku tak invest boleh tak

[00:06:03.900 – 00:06:04.360] Boleh je

[00:06:04.360 – 00:06:05.340] Tapi kau dilute lah bro

[00:06:05.340 – 00:06:06.320] Tak paku top up semua

[00:06:06.320 – 00:06:07.860] So apa yang berlaku

[00:06:08.620 – 00:06:09.860] Disebabkan awak tak invest

[00:06:09.860 – 00:06:11.460] 40% awak ni

[00:06:11.460 – 00:06:13.320] Akan turun jadi 4%

[00:06:14.860 – 00:06:16.580] Sebab partner awak yang top up semua

[00:06:17.260 – 00:06:18.260] Inilah yang berlaku

[00:06:18.260 – 00:06:19.100] Banyak kepada

[00:06:19.100 – 00:06:20.580] Orang yang pegang minority

[00:06:20.580 – 00:06:22.340] Sebab itulah benda ni kena buat dalam bentuk

[00:06:22.340 – 00:06:23.980] shareholder agreement apa semua kan

[00:06:23.980 – 00:06:25.140] dia adalah

[00:06:25.140 – 00:06:26.460] kalau tak join

[00:06:26.460 – 00:06:27.400] saham dia akan dilute

[00:06:28.620 – 00:06:29.300] contohnya

[00:06:29.300 – 00:06:29.780] renovation

[00:06:29.780 – 00:06:30.740] syarikat nak renovate

[00:06:30.740 – 00:06:31.640] pejabat 200k

[00:06:31.640 – 00:06:32.460] ada 4 shareholder

[00:06:32.460 – 00:06:33.840] 25% setiap sorang

[00:06:33.840 – 00:06:35.080] masing-masing dipanggil

[00:06:35.080 – 00:06:35.980] untuk contribute 50k

[00:06:35.980 – 00:06:36.840] sorang tak bayar

[00:06:36.840 – 00:06:37.700] sorang tak nak bayar

[00:06:38.260 – 00:06:39.240] jadi pegangan share

[00:06:39.240 – 00:06:39.860] dia akan turun

[00:06:39.860 – 00:06:41.280] daripada 25

[00:06:41.280 – 00:06:42.240] jadi 20%

[00:06:42.240 – 00:06:43.380] yang lain pula

[00:06:43.380 – 00:06:44.520] akan naik 5%

[00:06:44.520 – 00:06:45.280] daripada 25

[00:06:45.280 – 00:06:45.780] naik 30

[00:06:45.780 – 00:06:46.160] 30

[00:06:46.160 – 00:06:47.200] macam tu

[00:06:47.200 – 00:06:48.120] sebab dia dilute

[00:06:48.120 – 00:06:49.640] ini contoh yang bagus

[00:06:49.640 – 00:06:50.580] cash flow deficit

[00:06:50.580 – 00:06:51.720] syarikat tak cukup duit

[00:06:52.340 – 00:06:54.000] Syarikat ada OPEP 500k

[00:06:54.000 – 00:06:55.360] Tapi cash tinggal 300k

[00:06:55.360 – 00:06:56.160] Nak kena bayar ni

[00:06:56.160 – 00:06:56.620] Tak cukup

[00:06:56.620 – 00:06:57.600] So board

[00:06:57.600 – 00:06:59.260] Director buat keputusan

[00:06:59.260 – 00:07:00.300] Untuk buat capital call

[00:07:00.300 – 00:07:01.040] Panggil semua orang

[00:07:01.040 – 00:07:02.000] Kita nak masuk topak duit

[00:07:02.000 – 00:07:02.440] 200 ribu

[00:07:02.440 – 00:07:03.540] Tak nak buat loan dengan bank

[00:07:03.540 – 00:07:04.920] Semua shareholder kena tambah

[00:07:04.920 – 00:07:06.900] Jadi kalau majority dah setuju

[00:07:06.900 – 00:07:07.760] Untuk tambah duit

[00:07:07.760 – 00:07:08.620] Semua orang kena keluar duit

[00:07:08.620 – 00:07:09.120] Tak ada option

[00:07:09.120 – 00:07:11.060] So jadi shareholder

[00:07:11.060 – 00:07:12.820] Waktu dapat dividend happy

[00:07:12.820 – 00:07:14.080] Waktu kena invest duit

[00:07:14.080 – 00:07:14.600] Tak nak pula

[00:07:14.600 – 00:07:15.440] Pergi joli duit tu

[00:07:15.440 – 00:07:16.000] Sebab itulah

[00:07:16.000 – 00:07:17.240] Kekuatan capital lah waktu

[00:07:17.240 – 00:07:17.940] Akan diuji

[00:07:18.480 – 00:07:19.660] New project investment

[00:07:19.660 – 00:07:20.880] Syarikat dapat peluang

[00:07:20.880 – 00:07:21.700] Buka cawangan baru

[00:07:21.700 – 00:07:22.660] Perluang 1 juta

[00:07:22.660 – 00:07:23.100] Board

[00:07:23.100 – 00:07:24.280] Setuju buat capital call

[00:07:24.980 – 00:07:26.060] Shareholder masuk duit

[00:07:26.060 – 00:07:27.260] Emergency crisis

[00:07:27.260 – 00:07:27.880] Pandemic

[00:07:27.880 – 00:07:28.460] Revenue drop

[00:07:28.460 – 00:07:29.380] Terus nak survive

[00:07:29.380 – 00:07:30.500] Syarikat buat capital call lagi

[00:07:30.500 – 00:07:31.300] Shareholder yang tak mampu

[00:07:31.300 – 00:07:32.200] Top up akan dilute

[00:07:32.200 – 00:07:34.120] So pada waktu capital call ni

[00:07:34.120 – 00:07:34.920] Dia sangat bagus

[00:07:34.920 – 00:07:35.940] Untuk

[00:07:35.940 – 00:07:37.320] Capital call

[00:07:37.980 – 00:07:38.900] Sebenarnya adalah

[00:07:41.720 – 00:07:42.320] Reset

[00:07:43.120 – 00:07:43.720] Struktur

[00:07:43.720 – 00:07:44.580] Shareholder

[00:07:47.840 – 00:07:49.520] Contohnya kita nak kick seorang ni

[00:07:49.520 – 00:07:51.320] Macam aku nak kick dia

[00:07:51.320 – 00:07:52.240] Nak buang share dia

[00:07:52.240 – 00:07:54.360] tak boleh. Eh bro, kita pakat

[00:07:54.360 – 00:07:55.920] tak. Kita

[00:07:56.300 – 00:07:57.720] invest pada satu projek ni

[00:07:58.600 – 00:07:59.320] 20 juta

[00:08:00.580 – 00:08:02.200] kita minta dia top up duit, mesti dia

[00:08:02.200 – 00:08:04.320] tak boleh baginya kan. Dilute lah pada muka

[00:08:04.320 – 00:08:06.340] lepas tu kau top up, aku top up. Okay on

[00:08:06.340 – 00:08:08.400] pam. Member

[00:08:08.400 – 00:08:10.280] eh apa eh? Aku kena top up

[00:08:10.280 – 00:08:12.580] aku kena top up 5 juta, aku tak ada 5 juta

[00:08:12.580 – 00:08:14.600] tak apa, tak apa, tak apa. Kita orang top up kan

[00:08:14.600 – 00:08:16.360] dia nak sedih pun tak boleh sebab

[00:08:16.980 – 00:08:18.200] tapi company valuation

[00:08:18.200 – 00:08:19.960] naik jadi 20 juta pula lepas ni

[00:08:20.820 – 00:08:22.080] macam tu live right dia tau. Dia

[00:08:22.080 – 00:08:23.600] Dia sebenarnya benda ni

[00:08:23.600 – 00:08:25.120] Untuk mengurangkan

[00:08:25.760 – 00:08:26.620] Pengaruh orang tu

[00:08:26.620 – 00:08:28.060] Mengurangkan pegangan orang tu

[00:08:28.060 – 00:08:29.000] Dia adalah strategi dia

[00:08:29.000 – 00:08:29.460] That's why

[00:08:30.240 – 00:08:31.380] Investor kena belajar

[00:08:31.380 – 00:08:32.800] Untuk always nampak kaya

[00:08:33.260 – 00:08:34.000] Katalah saya tahu

[00:08:34.000 – 00:08:35.260] Awak kat belakang ada backup besar

[00:08:35.260 – 00:08:37.160] Awak nak pump 2 juta

[00:08:37.160 – 00:08:38.260] Celah gigi je

[00:08:38.260 – 00:08:40.060] So kalau saya nak buat capital call

[00:08:40.060 – 00:08:41.100] Dengan partner nak paket-paket

[00:08:41.100 – 00:08:41.600] Saya cuak lah

[00:08:41.600 – 00:08:41.880] Alamak

[00:08:41.880 – 00:08:43.900] Nanti dia ni backup besar belakang ni

[00:08:43.900 – 00:08:44.460] Tak apa lah tak idea

[00:08:44.460 – 00:08:45.800] Sekarang duit aku sejuk pula

[00:08:45.800 – 00:08:46.640] Letak lama kat sini

[00:08:46.640 – 00:08:47.940] Duit tu tak burn

[00:08:47.940 – 00:08:48.560] Yang awak letak tu

[00:08:48.560 – 00:08:49.440] Tapi dia akan sejuk kat situ

[00:08:49.440 – 00:08:50.900] So benda ni banyak berlaku lah

[00:08:50.900 – 00:08:52.000] Kepada otai-otai

[00:08:52.000 – 00:08:53.940] Besar, yang dia sengaja

[00:08:53.940 – 00:08:55.880] Buat capital call besar, member daripada

[00:08:55.880 – 00:08:57.640] Own 20%, drop jadi

[00:08:58.320 – 00:08:59.520] 22%, macam ni lah

[00:09:00.260 – 00:09:01.820] So, capital call ni bagus

[00:09:01.820 – 00:09:03.520] Tapi ada orang salah gunakan dia

[00:09:03.520 – 00:09:06.120] Sebab tu, bila berpartner ni, niat tu lah kena betulkan

[00:09:06.120 – 00:09:07.580] Kita nak semua orang untung

[00:09:08.160 – 00:09:09.340] Alright, so

[00:09:09.340 – 00:09:11.780] Tahniah, kalian telah menghabiskan chapter ni

[00:09:11.780 – 00:09:13.700] Jadi, saya akan

[00:09:13.700 – 00:09:15.960] Buat video summary, insyaAllah saya akan upload nanti

[00:09:15.960 – 00:09:17.840] Dan setakat ini, saya ucapkan terima kasih

[00:09:17.840 – 00:09:19.760] Kepada siapa yang menonton, mudah-mudahan awak dah

[00:09:19.760 – 00:09:21.880] Celik capital, jumpa dalam video

[00:09:21.880 – 00:09:23.060] dan modul yang seterusnya

[00:09:23.060 – 00:09:23.960] Zas