Apex Equity Holdings Berhad (APEX) is engaged in the business of investment holding and trading in marketable securities. The Company's segments include Stock and futures broking segment, Building management and property investment, Unit trust, Money lending, Investment holdings and Other segments. The Company's subsidiaries are JF Apex Securities Berhad, Apex Investment Services Berhad, Monopoly Enterprises Sdn Bhd, Apex Asset Management Sdn Bhd, AEH Capital Sdn Bhd, Apex Equity International Sdn Bhd, JF Apex Nominees (Tempatan) Sdn Bhd, JF Apex Nominees (Asing) Sdn Bhd, Apex Partners Sdn Bhd and Apex Equity Advisory Services Sdn Bhd. JF Apex Securities Berhad are stock, share and futures brokers and dealers in securities, investment advisor and dealers in securities. Apex Investment Services Berhad is engaged in establishment and management of unit trusts and provision of portfolio management and investment advisory services.
jc_ooiThis is from the email sent by my remiser on 16 July.
"Apex Equity: Abrewing shareholding tussle at Apex Equity may eventually lead to a hostiletakeover. It is learnt that insurance firm P&O is accumulating shares onthe open market. However it is not known if the shares are purchased fortrading purpose or to assist a substantial shareholders in the brewingshareholding battle. Speculation that a general offer is possibly on the cardsfollowing the failed bid by former executive Chan Guan Seng and former directorLew Lup Seong to seek re election to the board at the AGM late June 2012.However the board, which was then left with only two directors after the AGM,re appointed Chan executive director two days after the shareholders’meeting. Having flexed its muscles at the AGM, the faction against Chan isexpected to oust the entire board of the stockbroking firm. But if thathappens, it would mean triggering a MGO under BursaMalaysia’slisting rules.
Fun Sheung Development Ltd is the single largest shareholder of ApexEquity with a 14.96% stake. Chan, who has been at the helm of Apex for a longtime, owns direct and indirect stakes of 12.55%. The other major shareholdersof Apex include Datuk Azizian Abdul Rahman with a 3.86% stake and companiesaligned to Lim Siew Kim of Metroplex Bhd. Lim could possibly be a key figure inApex’s showdown. She is the daughter of Tan Sri Lim Goh Tong and thespouse of Dick Chan, the elder brother of Guan Seng. However Lim is said notaligned to Chan in his fight to keep control of Apex. Metroplex owns 6.3% stakein Apex Equity pledged to Arab Malaysian Credit Bhd. Apart from Metroplex, thereare other companies holding shares in Apex linked to Lim.
A block of 13.5 million of Apex shares changed hands at 0.92 each. The sharesare believed to be the block that Metroplex had pledged to Arab MalaysianCredit.
The beneficiary ofthe large block of shares is believed to be a friendly party related to Lim,considering the large discount to the market price. Sources said thefaction opposing Chan seems to be taking strategic moves to oust the board. Ifit is true that the 6.3% block is used as a launching pad to gain control ofthe company, a general offer, if it happens would be priced only at about 0.92."
jc_ooiApex Equityhas cashed out of its investment in an Australian property arm for rm54.84million. The share sale will boost its cash pile from rm107 million. Locally,all eyes are on Apex, as a faction against executive director Chan Guan Seng isexpected to convene an EGM to replace the entire board.
nicole76When is your RM0.05 Dividend going to announce??......
nicole76Ok at last announced yesterday RM0.05 Dividend Wohoo!! Kept this counter for so long and now getting it's value back... my ave cost only RM0.55 for the years kept this counter. Going to hold it till RM2.00. Possible with the yearly Dividend handouts now.
nicole76Directors want to initiate buy back shares, prices will be more control. Good pontential to go up if this happens. Going to hold on. Jobstreet after buy back went up rm1. So hope will reach above rm2.
nicole76HAHAHA!!! Directors wants to buy back below 1.20 but sellers all want to sell above 1.30. You have to buy what price the market wants man... don't be so stingy... help move you own shares. WAKAKAKA!!
Lim ASAround the end of August , I think this counter will declare dividend in the region of 16 cts like last year , so at the present prevailing price 1.20+ will be a pull factor , the overall price will be around 1.36-1.40 region. so buying now , will ensure at least 10% return... this is my guess...