Capital Call & Dilution Draf transkrip automatik penuh. Pembetulan istilah berdasarkan sumber direkodkan secara berasingan; tanda semakan menunjukkan perkataan yang perlu diperiksa. [00:00:00–00:00:27] 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%. [semak: uncertain words, number or amount] [00:00:28–00:00:30] Dia ni akan jadi mungkin 36% [semak: uncertain words, number or amount] [00:00:30–00:00:33] Dia ni mungkin akan jadi 27% [semak: number or amount] [00:00:33–00:00:35] Dan masuklah orang baru 10% [semak: number or amount] [00:00:35–00:00:37] So, bila awak tambah semua ni [00:00:37–00:00:38] Dapatlah 100% [semak: number or amount] [00:00:38–00:00:40] Sebab sebelum tu [00:00:40–00:00:42] Yang ni total semua ni adalah 100% [semak: uncertain words, number or amount] [00:00:42–00:00:44] Kan, asalnya yang ni 100% [semak: number or amount] [00:00:44–00:00:45] So, ini orang baru nak masuk [00:00:45–00:00:46] Katalah nama dia Ameh [00:00:46–00:00:47] Ameh nak masuk [00:00:47–00:00:48] Itu adalah cair [semak: uncertain words] [00:00:48–00:00:51] Maksudnya, awak terpaksa mencairkan [00:00:52–00:00:53] Peratusan saham awak [00:00:53–00:00:55] Company keluarkan saham baru untuk tambah modal [semak: uncertain words] [00:00:55–00:00:58] share akan berturun dan jadi cair [semak: uncertain words] [00:00:58–00:01:00] contohnya yang ni saya tengok contoh [00:01:00–00:01:02] Abu letak RM6,000 [semak: uncertain words, number or amount] [00:01:02–00:01:04] Ali letak RM4,000, total modal kita RM10,000 [semak: number or amount] [00:01:04–00:01:06] paid up capital, modal [semak: uncertain words] [00:01:06–00:01:08] pemulaan syarikat RM10,000, 10 unit [semak: number or amount] [00:01:08–00:01:09] share kita keluarkan [00:01:09–00:01:12] 1 unit share, RM1, ni standard lah [semak: number or amount] [00:01:12–00:01:14] maksudnya company akan buat memang [00:01:14–00:01:15] 1 unit, standard RM1, senang kira [semak: number or amount] [00:01:15–00:01:17] so Abu dapat [00:01:17–00:01:19] RM60,000, Ali dapat [semak: number or amount] [00:01:19–00:01:21] RM60,000, jadi kita kira kat sini [semak: number or amount] [00:01:21–00:01:22] ada RM10,000 unit [semak: uncertain words, number or amount] [00:01:22–00:01:24] ada 2 orang director [semak: uncertain words, number or amount] [00:01:24–00:01:26] so yang 60% ni akan dapat [semak: uncertain words, number or amount] [00:01:26–00:01:27] 6,000 unit lah [semak: uncertain words, number or amount] [00:01:28–00:01:30] yang 40% akan dapat [semak: uncertain words, number or amount] [00:01:30–00:01:32] 4,000 unit share [semak: number or amount] [00:01:32–00:01:33] tiba-tiba [00:01:34–00:01:36] company macam nak [00:01:36–00:01:38] duit tapi tak nak buat loan [00:01:38–00:01:40] dia nak jual share, dia nak duit tapi [00:01:40–00:01:42] tak nak buat loan, kalau buat loan kena bayar balik [00:01:42–00:01:44] kalau jual share company tak payah bayar balik [00:01:44–00:01:46] jadi Amir dia nak [00:01:46–00:01:48] invest 50k [semak: number or amount] [00:01:48–00:01:49] dia nak beli saham baru [00:01:49–00:01:52] so Abu Ali pun sepakat, okey lah boleh lah [00:01:52–00:01:54] kita nilaikan kembali kita ni 500,000 lah [semak: uncertain words, number or amount] [00:01:54–00:01:55] padahal modal tadi [00:01:55–00:01:56] RM10,000 je [semak: number or amount] [00:01:56–00:01:57] tapi sebab sale dah naik [00:01:57–00:01:57] dah banyak [00:01:57–00:01:58] dia dah belajar valuation [00:01:58–00:01:59] dia dah ada profit [00:01:59–00:02:00] dia value-kan RM500,000 [semak: uncertain words, number or amount] [00:02:00–00:02:02] so bila dia value-kan [00:02:02–00:02:03] RM500,000 [semak: number or amount] [00:02:03–00:02:04] dia kata [00:02:04–00:02:04] ok [00:02:04–00:02:05] kalau kau nak beli [semak: uncertain words] [00:02:05–00:02:06] 10% [semak: number or amount] [00:02:07–00:02:08] RM50,000 [semak: number or amount] [00:02:08–00:02:09] so cantik lah [00:02:09–00:02:10] kau masuk RM50,000 lah [semak: number or amount] [00:02:10–00:02:11] aku bagi kau 10% [semak: number or amount] [00:02:12–00:02:13] so Amir pun kata [00:02:13–00:02:14] ok aku dah tengok [00:02:14–00:02:15] audit report semua [00:02:15–00:02:15] aku setuju [00:02:15–00:02:16] memang betul lah [00:02:16–00:02:16] value dia [00:02:16–00:02:17] thank you lah [00:02:17–00:02:17] bagi discount sikit [00:02:17–00:02:18] patutnya harga dia [00:02:18–00:02:19] RM6,000 [semak: uncertain words, number or amount] [00:02:19–00:02:20] kan [00:02:20–00:02:21] tapi dia bagi discount lah [00:02:21–00:02:22] lebih kurang eh [00:02:22–00:02:22] cincang kira [00:02:23–00:02:25] Amir setuju dengan valuation [00:02:25–00:02:26] That nilai 50k [semak: uncertain words, number or amount] [00:02:26–00:02:27] Nilai unit share naik [00:02:27–00:02:29] Daripada RM1 jadi RM45 [semak: number or amount] [00:02:29–00:02:30] Kenapa? [00:02:30–00:02:31] Sebab [00:02:31–00:02:33] In order untuk memasukkan [00:02:33–00:02:35] Orang tadi tu [00:02:35–00:02:37] Syarikat kena terbitkan saham extra [00:02:37–00:02:39] Dia jadi RM10,000 [semak: number or amount] [00:02:40–00:02:41] Plus [00:02:42–00:02:43] RM111 [semak: uncertain words, number or amount] [00:02:43–00:02:47] Maksudnya ada RM11,100 [semak: uncertain words, number or amount] [00:02:48–00:02:50] Satu unit share [00:02:50–00:02:52] Kenapa nak buat macam ni? [00:02:52–00:02:53] Sebab barulah [00:02:54–00:02:56] Pening pula satu-satu ni banyak [semak: uncertain words] [00:02:57–00:02:58] Satu [semak: uncertain words] [00:02:58–00:02:59] Satu-satu [00:02:59–00:03:01] Satu [semak: uncertain words] [00:03:01–00:03:01] So, 11,000 [semak: uncertain words, number or amount] [00:03:01–00:03:04] Ini yang new share diterbitkan [semak: uncertain words] [00:03:04–00:03:06] Sebab barulah bila kita kira balik [00:03:06–00:03:08] Satu-satu-satu-satu [00:03:08–00:03:11] Bahagi dengan satu-satu-satu-satu [00:03:11–00:03:12] Equal [semak: uncertain words] [00:03:12–00:03:13] 10% [semak: number or amount] [00:03:13–00:03:14] Betul lah [00:03:14–00:03:16] Jadi, apa yang berlaku [00:03:16–00:03:18] Orang ni, dia beli [00:03:21–00:03:22] 1101 saham [semak: number or amount] [00:03:22–00:03:26] Dengan harga RM50,000 [semak: number or amount] [00:03:26–00:03:27] Wish, mahal gila [semak: uncertain words] [00:03:27–00:03:30] So, berapa nilai satu saham? [semak: uncertain words] [00:03:31–00:03:32] Awak buat kalkulation, tak awak dapat [semak: uncertain words] [00:03:32–00:03:33] Satu saham nilai RM40 [semak: number or amount] [00:03:34–00:03:35] Itulah nilai dia [00:03:39–00:03:40] Betul tak? Cuba kira-kira kereta [semak: uncertain words] [00:03:44–00:03:45] RM50,000 [semak: number or amount] [00:03:45–00:03:47] Bahagi satu, satu, satu, satu [semak: uncertain words] [00:03:53–00:03:54] RM45, betul kan? [semak: uncertain words, number or amount] [00:03:54–00:03:54] RM45 lah [semak: uncertain words, number or amount] [00:03:54–00:03:56] So, nampak? Daripada tadi [00:03:57–00:03:58] Satu unit [00:03:59–00:04:00] Unit tadi [00:04:00–00:04:04] RM 1 ringgit [semak: uncertain words, number or amount] [00:04:04–00:04:06] dia dah naik jadi 1 unit [semak: uncertain words, number or amount] [00:04:07–00:04:08] RM [00:04:08–00:04:09] RM 45 ringgit [semak: uncertain words, number or amount] [00:04:09–00:04:11] sebab awak terbitkan share baru [00:04:11–00:04:14] dan share baru yang awak terbitkan ni [00:04:14–00:04:16] ada orang sanggup beli dengan harga RM 50,000 [semak: number or amount] [00:04:17–00:04:18] nampak? [00:04:18–00:04:19] tetapi sayangnya [00:04:19–00:04:21] terpaksalah dilute [00:04:21–00:04:24] maka apa yang berlaku, berdilution pencairan [00:04:24–00:04:25] saham terpaksa berlaku [00:04:25–00:04:27] Abu daripada 60% kena drop [semak: uncertain words, number or amount] [00:04:27–00:04:29] 60% jadi 54% [semak: number or amount] [00:04:29–00:04:31] Ali daripada 40% kena drop [semak: number or amount] [00:04:31–00:04:33] Untuk memberi ruang pada Amir [00:04:33–00:04:35] Tapi adakah Ali dan Abu [00:04:36–00:04:36] Sedih tak? [00:04:37–00:04:39] Sebab nilai yang diorang pegang masih sama [semak: uncertain words] [00:04:39–00:04:40] Cuma beza dia jadi macam ni [00:04:41–00:04:42] Dia jadi [00:04:42–00:04:45] 54 equal 6,000 [semak: uncertain words, number or amount] [00:04:46–00:04:47] Nampak? Sama kan 6,000 [semak: uncertain words, number or amount] [00:04:47–00:04:48] Tak berkurang [00:04:49–00:04:50] 36% [semak: number or amount] [00:04:51–00:04:52] Equal 4,000 [semak: number or amount] [00:04:53–00:04:55] 10% [semak: number or amount] [00:04:55–00:04:56] Equal [00:04:57–00:04:58] 1,1,1 [semak: uncertain words, number or amount] [00:04:58–00:05:04] tu. Dia jadi macam ni. So, dia akan dicairkan. Okay. Itulah [semak: uncertain words] [00:05:04–00:05:06] maksudnya dilution. Dan dilution ni adalah benda yang [00:05:06–00:05:09] okay, bagus. Kalau tak salah guna. Kalau salah guna, dia akan [00:05:09–00:05:14] jadi kena sepak terajang daripada partner. Biasanya [00:05:14–00:05:17] capital call. Okay. Capital call ni adalah permintaan rasmi [00:05:17–00:05:20] syarikat untuk tambah modal. Tambah topak duit dalam [00:05:20–00:05:23] syarikat. Okay. Bayangkan. Awak punya valuation company awak [00:05:23–00:05:24] adalah sebanyak RM [semak: uncertain words] [00:05:25–00:05:26] RM100,000 [semak: uncertain words, number or amount] [00:05:28–00:05:29] tiba-tiba [00:05:29–00:05:31] 60% [semak: number or amount] [00:05:31–00:05:32] daripada board [00:05:32–00:05:34] of director, awak bersetuju [semak: uncertain words] [00:05:34–00:05:35] untuk [00:05:36–00:05:37] invest pada satu projek [00:05:37–00:05:40] investment pada satu projek ni nak kena top up [00:05:40–00:05:42] RM1,000,000 [semak: number or amount] [00:05:43–00:05:44] awak dekat sini [00:05:44–00:05:46] dengan valuation ni, awak own [00:05:46–00:05:48] 40% [semak: number or amount] [00:05:48–00:05:50] mamat ni setuju untuk naikkan modal [00:05:50–00:05:52] so awak kena follow lah patutnya [00:05:52–00:05:53] Kalau 1M [semak: number or amount] [00:05:54–00:05:55] Patutnya awak kena invest berapa [00:05:55–00:05:57] Awak kena invest RM200,000 [semak: uncertain words, number or amount] [00:05:57–00:05:59] Member sebelah ni invest RM600,000 [semak: number or amount] [00:05:59–00:06:01] Masalahnya awak tak ada duit RM200,000 tu [semak: uncertain words, number or amount] [00:06:02–00:06:02] Awak pun kata [00:06:02–00:06:03] Eh aku tak invest boleh tak [00:06:03–00:06:04] Boleh je [00:06:04–00:06:05] Tapi kau dilute lah bro [00:06:05–00:06:06] Tak paku top up semua [semak: uncertain words] [00:06:06–00:06:07] So apa yang berlaku [00:06:08–00:06:09] Disebabkan awak tak invest [00:06:09–00:06:11] 40% awak ni [semak: number or amount] [00:06:11–00:06:13] Akan turun jadi 4% [semak: number or amount] [00:06:14–00:06:16] Sebab partner awak yang top up semua [00:06:17–00:06:18] Inilah yang berlaku [00:06:18–00:06:19] Banyak kepada [00:06:19–00:06:20] Orang yang pegang minority [00:06:20–00:06:22] Sebab itulah benda ni kena buat dalam bentuk [00:06:22–00:06:23] shareholder agreement apa semua kan [00:06:23–00:06:25] dia adalah [00:06:25–00:06:26] kalau tak join [00:06:26–00:06:27] saham dia akan dilute [00:06:28–00:06:29] contohnya [00:06:29–00:06:29] renovation [00:06:29–00:06:30] syarikat nak renovate [00:06:30–00:06:31] pejabat 200k [semak: number or amount] [00:06:31–00:06:32] ada 4 shareholder [semak: number or amount] [00:06:32–00:06:33] 25% setiap sorang [semak: number or amount] [00:06:33–00:06:35] masing-masing dipanggil [00:06:35–00:06:35] untuk contribute 50k [semak: number or amount] [00:06:35–00:06:36] sorang tak bayar [00:06:36–00:06:37] sorang tak nak bayar [00:06:38–00:06:39] jadi pegangan share [00:06:39–00:06:39] dia akan turun [00:06:39–00:06:41] daripada 25 [semak: number or amount] [00:06:41–00:06:42] jadi 20% [semak: uncertain words, number or amount] [00:06:42–00:06:43] yang lain pula [00:06:43–00:06:44] akan naik 5% [semak: number or amount] [00:06:44–00:06:45] daripada 25 [semak: number or amount] [00:06:45–00:06:45] naik 30 [semak: number or amount] [00:06:45–00:06:46] 30 [semak: number or amount] [00:06:46–00:06:47] macam tu [semak: uncertain words] [00:06:47–00:06:48] sebab dia dilute [00:06:48–00:06:49] ini contoh yang bagus [00:06:49–00:06:50] cash flow deficit [00:06:50–00:06:51] syarikat tak cukup duit [00:06:52–00:06:54] Syarikat ada OPEP 500k [semak: uncertain words, number or amount] [00:06:54–00:06:55] Tapi cash tinggal 300k [semak: number or amount] [00:06:55–00:06:56] Nak kena bayar ni [semak: uncertain words] [00:06:56–00:06:56] Tak cukup [semak: uncertain words] [00:06:56–00:06:57] So board [00:06:57–00:06:59] Director buat keputusan [00:06:59–00:07:00] Untuk buat capital call [00:07:00–00:07:01] Panggil semua orang [00:07:01–00:07:02] Kita nak masuk topak duit [00:07:02–00:07:02] 200 ribu [semak: uncertain words, number or amount] [00:07:02–00:07:03] Tak nak buat loan dengan bank [00:07:03–00:07:04] Semua shareholder kena tambah [00:07:04–00:07:06] Jadi kalau majority dah setuju [00:07:06–00:07:07] Untuk tambah duit [00:07:07–00:07:08] Semua orang kena keluar duit [00:07:08–00:07:09] Tak ada option [semak: uncertain words] [00:07:09–00:07:11] So jadi shareholder [semak: uncertain words] [00:07:11–00:07:12] Waktu dapat dividend happy [00:07:12–00:07:14] Waktu kena invest duit [00:07:14–00:07:14] Tak nak pula [00:07:14–00:07:15] Pergi joli duit tu [00:07:15–00:07:16] Sebab itulah [00:07:16–00:07:17] Kekuatan capital lah waktu [00:07:17–00:07:17] Akan diuji [00:07:18–00:07:19] New project investment [00:07:19–00:07:20] Syarikat dapat peluang [00:07:20–00:07:21] Buka cawangan baru [00:07:21–00:07:22] Perluang 1 juta [semak: number or amount] [00:07:22–00:07:23] Board [semak: uncertain words] [00:07:23–00:07:24] Setuju buat capital call [00:07:24–00:07:26] Shareholder masuk duit [00:07:26–00:07:27] Emergency crisis [00:07:27–00:07:27] Pandemic [00:07:27–00:07:28] Revenue drop [00:07:28–00:07:29] Terus nak survive [00:07:29–00:07:30] Syarikat buat capital call lagi [00:07:30–00:07:31] Shareholder yang tak mampu [00:07:31–00:07:32] Top up akan dilute [00:07:32–00:07:34] So pada waktu capital call ni [semak: uncertain words] [00:07:34–00:07:34] Dia sangat bagus [00:07:34–00:07:35] Untuk [00:07:35–00:07:37] Capital call [00:07:37–00:07:38] Sebenarnya adalah [00:07:41–00:07:42] Reset [00:07:43–00:07:43] Struktur [00:07:43–00:07:44] Shareholder [00:07:47–00:07:49] Contohnya kita nak kick seorang ni [00:07:49–00:07:51] Macam aku nak kick dia [00:07:51–00:07:52] Nak buang share dia [00:07:52–00:07:54] tak boleh. Eh bro, kita pakat [00:07:54–00:07:55] tak. Kita [semak: uncertain words] [00:07:56–00:07:57] invest pada satu projek ni [00:07:58–00:07:59] 20 juta [semak: uncertain words, number or amount] [00:08:00–00:08:02] kita minta dia top up duit, mesti dia [semak: uncertain words] [00:08:02–00:08:04] tak boleh baginya kan. Dilute lah pada muka [00:08:04–00:08:06] lepas tu kau top up, aku top up. Okay on [semak: uncertain words] [00:08:06–00:08:08] pam. Member [semak: uncertain words] [00:08:08–00:08:10] eh apa eh? Aku kena top up [semak: uncertain words] [00:08:10–00:08:12] aku kena top up 5 juta, aku tak ada 5 juta [semak: uncertain words, number or amount] [00:08:12–00:08:14] tak apa, tak apa, tak apa. Kita orang top up kan [semak: uncertain words] [00:08:14–00:08:16] dia nak sedih pun tak boleh sebab [semak: uncertain words] [00:08:16–00:08:18] tapi company valuation [00:08:18–00:08:19] naik jadi 20 juta pula lepas ni [semak: number or amount] [00:08:20–00:08:22] macam tu live right dia tau. Dia [semak: uncertain words] [00:08:22–00:08:23] Dia sebenarnya benda ni [semak: uncertain words] [00:08:23–00:08:25] Untuk mengurangkan [00:08:25–00:08:26] Pengaruh orang tu [00:08:26–00:08:28] Mengurangkan pegangan orang tu [00:08:28–00:08:29] Dia adalah strategi dia [00:08:29–00:08:29] That's why [00:08:30–00:08:31] Investor kena belajar [00:08:31–00:08:32] Untuk always nampak kaya [00:08:33–00:08:34] Katalah saya tahu [00:08:34–00:08:35] Awak kat belakang ada backup besar [semak: uncertain words] [00:08:35–00:08:37] Awak nak pump 2 juta [semak: number or amount] [00:08:37–00:08:38] Celah gigi je [00:08:38–00:08:40] So kalau saya nak buat capital call [00:08:40–00:08:41] Dengan partner nak paket-paket [semak: uncertain words] [00:08:41–00:08:41] Saya cuak lah [semak: uncertain words] [00:08:41–00:08:41] Alamak [00:08:41–00:08:43] Nanti dia ni backup besar belakang ni [00:08:43–00:08:44] Tak apa lah tak idea [semak: uncertain words] [00:08:44–00:08:45] Sekarang duit aku sejuk pula [00:08:45–00:08:46] Letak lama kat sini [00:08:46–00:08:47] Duit tu tak burn [00:08:47–00:08:48] Yang awak letak tu [00:08:48–00:08:49] Tapi dia akan sejuk kat situ [00:08:49–00:08:50] So benda ni banyak berlaku lah [00:08:50–00:08:52] Kepada otai-otai [00:08:52–00:08:53] Besar, yang dia sengaja [semak: uncertain words] [00:08:53–00:08:55] Buat capital call besar, member daripada [00:08:55–00:08:57] Own 20%, drop jadi [semak: number or amount] [00:08:58–00:08:59] 22%, macam ni lah [semak: uncertain words, number or amount] [00:09:00–00:09:01] So, capital call ni bagus [00:09:01–00:09:03] Tapi ada orang salah gunakan dia [00:09:03–00:09:06] Sebab tu, bila berpartner ni, niat tu lah kena betulkan [00:09:06–00:09:07] Kita nak semua orang untung [00:09:08–00:09:09] Alright, so [00:09:09–00:09:11] Tahniah, kalian telah menghabiskan chapter ni [00:09:11–00:09:13] Jadi, saya akan [00:09:13–00:09:15] Buat video summary, insyaAllah saya akan upload nanti [00:09:15–00:09:17] Dan setakat ini, saya ucapkan terima kasih [semak: uncertain words] [00:09:17–00:09:19] Kepada siapa yang menonton, mudah-mudahan awak dah [00:09:19–00:09:21] Celik capital, jumpa dalam video [00:09:21–00:09:23] dan modul yang seterusnya [00:09:23–00:09:23] Zas [semak: uncertain words]