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Overview
Financial Highlight
Headlines
Business Background Sungei Bagan Rubber Co (Malaya) Bhd through its subsidiaries is engaged in the plantation, cultivation, and sale of fresh oil palm fruit bunches. It also holds long-term portfolio investments in securities, deposits with banks and investment properties. The Company operates through two segments: Plantation and Investments. The Plantation segment is engaged in the cultivation of oil palm. The Investments segment is engaged in long-term portfolio investment in securities, deposits with banks and investment properties. It derives most of its revenues from Plantation.
  Zhlim014 We not sure whether ocbc will give that fair and reasonable price on delisting day. If no have, means share suspension 20/06/2024 12:45 PM Diamond7 Presently, and mindful of the 10% free-float rule, investors in GEH are concerned that the purchase price on June 19 is at a significant discount to GEH’s embedded value of $37.81 per share in FY2022. This, in turn is 2% lower than FY2021’s $38.57. Embedded value is the sum of the value of In-Force Business and the value of the adjusted Shareholders’ Funds. The value of the In-Force Business is calculated using cash flow assumptions for future operating experience and are discounted at a risk-adjusted discount rate. The value of the In-Force Business varies from traditional DCF methods to arrive at an NPV because the risk-adjusted discount rate and allowance for the cost of holding statutory reserves for risk are approximates. The economic value of one year’s new business rose by 7.1% y-o-y in FY2022 to $860.4 million. However, shareholders’ equity fell by 6% to $9,431.4 million. The closer OCBC’s stake gets to 90%, the stronger the likelihood of compulsory acquisition by OCBC 21/06/2024 8:20 AM dompeilee Many rich are similar to OCBC. They have billions but scrimp & save pennies: https://www.straitstimes.com/world/europe/members-of-britains-richest-family-get-jail-terms-for-exploiting-indian-staff-at-switzerland-mansion 22/06/2024 8:01 AM Zhlim014 Firstly, even after fair and reasonable, it also have to meet threshold of 75% valid acceptance. Then for compulsory acquisition, is 90% of independent shareholder. 23/06/2024 1:51 AM Diamond7 https://www.theedgesingapore.com/news/ma/great-easterns-free-float-falls-below-10-it-may-need-restore-free-float Latest news 24/06/2024 11:00 PM Diamond7 INGAPORE - Minority shareholders of Great Eastern (GE) who are holding out for a better exit offer from OCBC Bank may be in for a long wait. How long? Twenty years or so, if history is anything to go by. 25/06/2024 8:43 AM lionel messi Does the yearly dividend from Great Eastern justifies the holding out for a better offer? 25/06/2024 9:34 AM Diamond7 Oversea-Chinese Banking Corporation (OCBC) has issued a response to the letter sent by the Securities Investors Association Singapore (SIAS) on June 21. In its letter, SIAS posed six questions pertaining to OCBC’s decision to stick to its original offer price of $25.60 per Great Eastern (GEH) share, key factors that led to the offer price, and more. In its response dated June 27, OCBC explains that it already considered the “methodology, analysis and opinion” of its independent financial adviser (IFA), EY, before making the offer. “We note the IFA, following the detailed analysis it has undertaken, had considered the traded multiples of comparable companies across various metrics, versus the multiples implied by our offer,” said the bank, adding that its offer price represented a 36.9% premium to GEH’s last-traded price the day before its privatisation announcement on May 10. The letter, dated June 27, comes after GEH’s free float fell below the regulatory 10% on June 24. “We further note that the IFA has opined that the offer is not fair but reasonable and has advised the independent GEH directors to recommend that GEH shareholders accept our offer and the independent GEH directors have concurred with the IFA’s recommendation,” continues the release. 28/06/2024 7:19 AM Diamond7 Currently kuchai has not swapped it's shares with SBagan Kuchai is still holding the GE shares Can kuchai sell the shares to OCBC? 29/06/2024 3:05 PM dompeilee Looks like by the time the deadline for the exchange arrives, Great Eastern would already be swallowed by OCBC & the original agreement has to be significantly amended to reflect the much enlarged cash pile & the corresponding reduction in the equity asset column. 29/06/2024 6:07 PM Zhlim014 @Dompeilee you mean the transaction between sbagan and kuchai will most likely go through? 29/06/2024 11:17 PM AhPek Don't think Sg Bagan will allow OCBC to buy over GE shares from Kuchai. Already 90%+ of Kuchai's shareholders voted in favour of the resolution so there is no turning back unless there is another resolution to overrule the earlier resolution. I think OCBC needs to negotiate with Sg Bagan and not Kuchai. As it stands, Sg Bagan got the upper hand and not Kuchai. Just my opinion. 30/06/2024 1:11 AM dompeilee But the proposed acquisition approved by resolution has not gone through at least till Oct 26th at the earliest while Kuchai is still in Great Eastern's register as the owner of 3,032,000 of its shares so how can OCBC be buying from SBagan more than its own 1.73 mil shares? 30/06/2024 11:06 AM AhPek Very interesting development. Don't know how it's going to end up. Hope a win-win for both Kuchai and Sg Bagan shareholders. 30/06/2024 2:22 PM lionel messi There must be a good reason why they pushed it so far forward to 29 Oct when the closing date to accept the OCBC offer is 12 July. Is there a hidden message? Read between the lines. 30/06/2024 9:04 PM AhPek I think they will just let 12 Jul lapse. Drag on so that they will get more time to get a better offer from OCBC. 02/07/2024 2:43 PM AhPek The major minorities shareholders of GE is fighting for a higher price from OCBC. 02/07/2024 2:46 PM Diamond7 Oversea-Chinese Banking Corporation’s offer for Great Eastern Holdings G07 0.00% closed at 5.30pm on July 12. OCBC now holds 93.52% of GEH. On June 25, OCBC’s ownership crossed 90%. As a result, GEH shares will be suspended on Monday July 15. Accordingly, the offer is no longer open for acceptance and any acceptances received after 5.30 p.m. (Singapore time) on 12 July 2024 will be rejected. However, shareholders who have not accepted the offer can still require the offeror to acquire their shares at the offer price pursuant to Section 215(3) of the Companies Act. This says the transferee or offeror must, within one month from the date of the transfer, give notice to holders of the remaining shares that haven’t been tendered, that they can still tender their shares, and OCBC will have to accept them 13/07/2024 4:00 AM Diamond7 The date of transfer refers to the date on which OCBC’s shareholding crossed 90%, on June 25. On July 24, OCBC will likely be announcing that GEH shareholers can still accept the offer at $25.60 per share and this offer will be open for three months from July 24. OCBC group CEO Helen Wong unveiled a One Group strategy last year. GEH is likely to be part of that strategy. Interestingly, analysts have pointed out that OCBC doesn't charge GEH any bancassurance fees as these are not indicated in its annual report. In 2019, United Overseas Bank U11 0.03% and Prudential renewed a bancassurance agreement for 15 years for $1.5 billion over the course of the 15 years. 13/07/2024 4:03 AM AhPek How will this exercise going to affect Kuchai and Sg Bagan's shareholders? 13/07/2024 10:55 AM Diamond7 GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months... 13/07/2024 5:27 PM AhPek So this is actually very beneficial to Sg Bagan as Sg Bagan already executed the resolution. 14/07/2024 1:18 AM Diamond7 My guess is... SBagan will sell the Great Eastern shares to OCBC within the 3 months after acquisition from Kuchai. Deal with kuchai is still on going. Takes some time! 14/07/2024 12:07 PM Diamond7 50-50 All not sure if the great Eastern shares will be sold to OCBC or not! 14/07/2024 1:59 PM AhPek The notice did not mention the ex-date for taking over the assets and liabilities of Kuchai. Even if Sg Bagan doesn't sell the GEH shares to OCBC, it's still a valuable shares to hold. For long term, I think Sg Bagan's share should fly.🤞 14/07/2024 8:48 PM Diamond7 Lessons from OCBC’s offer for Great Eastern: be unafraid to hold out, but do so with eyes open Earn dividends from shares that are suspended from trading and wait for a richer future offer Leslie Yee Leslie Yee Published Tue, Jul 16, 2024 · 17/07/2024 6:24 AM Diamond7 On July 24, OCBC will likely be announcing that GEH shareholders can still accept the offer at $25.60 per share and this offer will be open for three months from July 24. There is still hope that after the kuchai SBagan swap deal... SBagan can still sell the Great Eastern shares to OCBC within the three months 21/07/2024 4:09 PM dompeilee Great Eastern, though suspended, has announced a fantastic set of results & an improved dividend of 45c per share payable in a month, so I believe the two sister companies should benefit. 31/07/2024 5:34 PM dompeilee SOLD 1 lot @ $6.34 to secure my 992nd consecutive capital gain day since July 29th 2020!🤗 01/08/2024 10:03 AM  calvintaneng Poor dompeilei got tunnel vision She CANNOT see Value in TSH RESOURCES UNDERSTANDING DIFFERENT FORMS OF VALUE IN VALUE INVESTING, Calvin Tan https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-03-story-h-155170407-UNDERSTANDING_DIFFERENT_FORMS_OF_VALUE_IN_VALUE_INVESTING_Calvin_Tan 03/08/2024 12:41 AM Diamond7 KUALA LUMPUR (June 26): The cut-off date for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) in return for a 29.37% stake in Sungei Bagan has been extended by four months to October 29. The two companies on Wednesday signed a supplemental letter for the extension, according to Kuchai and Sungei Bagan's filings with the stock exchange, which did not specify the reason for the extension. 04/08/2024 1:20 PM Ovantage Delisted share maybe big problem for sg Bagan, I still holding shares of Ytl land, nstp just to name a few..no dividends even annual report for delisted Share holders. 13/08/2024 11:24 AM Ovantage Hope this don’t happen to sbagan.. else it’s upto Ocbc to declare how much dividends to shareholders if any.. 13/08/2024 11:25 AM AhPek The swap has been sealed. Just wait for the cut-off date. Good for Sg Bagan's shareholders. 24/09/2024 1:12 AM  | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
