Highlights
KLSE: BPLANT (5254)       BOUSTEAD PLANTATIONS BHD Main : Plantations
Last Price Today's Change   Day's Range   Trading Volume
1.61   -0.01 (0.62%)  1.61 - 1.63  279,300
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IPO Info

Key Data:
General Retail Institutional
Offer Period
Opening 27/05/2014 - -
Closing 27/05/2014 - -
Price
Issue Price 1.60 View RemarkIssue PrciceRepresenting the reference retail price stated in the Prospectus dated 27 May 2014 ("Prospectus") and is subject to adjustements against the institutional book building price and refund of any difference as stated in the Prospectus. - -
Par Value 0.500 - -
Units 1,600,000,000 - -
No of Shares
Public Issue 580,000,000 View RemarkNo of Shares - Public IssueComprising new ordinary shares of RM0.50 each in Boustead Plantations Berhad ("Issue Shares") - -
Offer for Sale 76,000,000 View RemarkNo of Shares - Offer For SaleComprising existing ordinary shares of RM0.50 each in Boustead Plantations Berhad held by Boustead Holdings Berhad ("Offer Shares") - -
Private Placement 163,570,500 View RemarkNo of Shares - Private PlacementComprising the the Institutional Offering as follows: 125,196,500 Issue Shares issued to Bumiputera investors approved by MITI 29,000,000 Offer Shares and 9,374,000 Issue Shares to other Malaysian institutions and selected investorsdoes not include the Over-allotment option of up to 64,000,000 Offer Shares granted by Boustead Holdings Berhad to AFFIN Investment Bank as the stabilising manager, as disclosed in the Prospectus - -
Time Table
Allotment Date 24/06/2014 - -
Listing Date 26/06/2014 - -
Issuing House MIH-5549 - -
ISIN Code MYL5254OO007 - -
Prospectus:
INITIAL PUBLIC OFFERING ("IPO") OF UP TO 656,000,000 ORDINARY SHARES OF RM0.50 EACH IN BOUSTEAD PLANTATIONS BERHAD ("BPB") (" IPO SHARES") COMPRISING AN OFFER FOR SALE OF UP TO 76,000,000 EXISTING BPB SHARES ("OFFER SHARES" ) AND A PUBLIC ISSUE OF 580,000,000 NEW BPB SHARES ("ISSUE SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 1,600,000,000 ORDINARY SHARES OF RM0.50 EACH IN BPB ("BPB SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD IN THE FOLLOWING MANNER:

A. THE INSTITUTIONAL OFFERING OF UP TO 163,570,500 IPO SHARES COMPRISING UP TO 29,000,000 OFFER SHARES AND 134,570,500 ISSUE SHARES TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"): AND

B. THE RETAIL OFFERING OF UP TO 492,429,500 IPO SHARES COMPRISING UP TO 47,000,000 OFFER SHARES AND 445,429,500 ISSUE SHARES TO:


(I) ENTITLED UNITHOLDERS OF AL·HADHARAH BOUSTEAD REIT ("BREIT") (AS DEFINED HEREIN) PURSUANT TO THE RESTRICTED BREIT OFFERING (AS DEFINED HEREIN);

(II) ENTITLED SHAREHOLDERS OF BOUSTEAD HOLDINGS BERHAD ("BHB" ) (AS DEFINED HEREIN) PURSUANT TO THE RESTRICTED BHB OFFERING (AS DEFINED HEREIN);

(III) ELIGIBLE DIRECTORS AND EMPLOYEES OF BPB AND ITS SUBSIDIARIES ("BPB GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE BPB GROUP, ELIGIBLE DIRECTORS AND EMPLOYEES OF BHB AND SPECIFIED DIRECTORS OF SELECTED SUBSIDIARIES OF BHB; AND

(IV) MALAYSIAN PUBLIC (AS DEFINED HEREIN),

AT THE RETAIL PRICE OF RM1.60 PER IPO SHARE ("RETAIL PRICE" ),

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION AS SET OUT IN THIS PROSPECTUS.

THE RETAIL PRICE IS PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE IN THE EVENT THAT THE FINAL RETAIL PRICE (AS DEFINED HEREIN) IS LESS THAN THE RETAIL PRICE. THE FINAL RETAIL PRICE
WILL EQUAL THE INSTITUTIONAL PRICE, SUBJECT TO THE FINAL RETAIL PRICE NOT EXCEEDING THE RETAIL PRICE.
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  3 people like this.
 
free2invest Agreed with you Yippy68. Put onto FA is better than buying the land. Furthermore, the trees there need to replant, which needs money and time to get back the return IF any.
28/08/2017 13:21
TheContrarian There's a lake deep inside the land inhabited by a creature. Hahaha.
28/08/2017 13:45
michael_jackson You mean a lake deep inside the land inhabited by a giant anaconda creature in sabah? sure or not??? but i think rational investors have strong faith in bplant management...... hahaha...
29/08/2017 12:26
Subrie Then better sell all land and just put in FD. Every quarter can disburse as dividend. Easy money
29/08/2017 15:39
AmstrongKL Annual return of the land was Rm3mil. Assuming return of 6%, then the fair buying price would be 3/0.06=50mil only. Rm750mil means over paid by Rm700mil.
30/08/2017 09:53
AmstrongKL Election coming la. But don't worry, government will put back the money with interest if they win the coming election. So, all members of LTAT, army, ex-army etc. must vote wisely if we want our money back safely. :O
30/08/2017 10:06
Subrie wow good sense of valuation you have there. Dont worry la, sure they will need to appoint an independent valuer.
30/08/2017 15:10
stevenloh dutaland annual report 2016 land price just Rm350 mil only why use Rm750 mil to buy it,
31/08/2017 13:19
calvintaneng Posted by stevenloh > Aug 31, 2017 01:19 PM | Report Abuse

dutaland annual report 2016 land price just Rm350 mil only why use Rm750 mil to buy it,

Calvin thinks Ok lah!

On these lands are planted with Oil Palm Trees worth Rm260 millions according to Dutaland's report.

So actual value is Rm350 mil & Rm260 mil which is Rm610 millions.

And with Pan Borneo Highway reaching Sandakan these lands are bound to increase in value.

So BPlant has a good bargain after all.
31/08/2017 16:12
Yippy68 do not worry... bplant may cancel this deal..they are now busy doing deep study on this,..to .management of bplant , we are rich and rich is king. we can afford to choice and pick the best.not necessary dutaland.
04/09/2017 08:13
apolloang bplant wanna lose 15 mil deposit money?
04/09/2017 11:57
Yippy68 @ apolloang, u sure that they paid 15 millions?
05/09/2017 05:47
apolloang if bplant cancel the deal they need to pay butaland buta money 15 mil
05/09/2017 12:05
Gen2 Earnest money is refundable, read carefully!
05/09/2017 12:49
free2invest Refundable lah.....read properly or if not sure or don't know, don't simply make statement.
05/09/2017 21:12
free2invest CPO price up more than 2 percent today.
05/09/2017 21:16
michael_jackson it is refundable lor...not anyhow gave money to dutaland just like that.... S&P agreement contract have not yet sign....must read properly before blaming bplant management... they make detail study analysis on the land before make final decision....so far, bplant is doing well in plantation.....until then we must wait the final confirmation from management before make decision to sell or to hold especially for those who have no confidence on bplant..... Bplant boleh!!!......sememangnya Bplant boleh!!!!......
06/09/2017 08:42
free2invest Something is cooking at BPlant share price now...I can smell it must be good!
07/09/2017 12:11
free2invest Most of deals done are 400 - 500 lots.
07/09/2017 12:13
newbie5354 As B Plant shareholders what we can do? If go ahead good for B Plant? Why other CPO company no chance?

Posted by michael_jackson > Sep 6, 2017 08:42 AM | Report Abuse
it is refundable lor...not anyhow gave money to dutaland just like that.... S&P agreement contract have not yet sign....must read properly before blaming bplant management... they make detail study analysis on the land before make final decision....so far, bplant is doing well in plantation.....until then we must wait the final confirmation from management before make decision to sell or to hold especially for those who have no confidence on bplant..... Bplant boleh!!!......sememangnya Bplant boleh!!!!......
10/09/2017 15:10
michael_jackson @newbie5354...
As B Plant shareholders what we can do?
As one of top minority shareholder, i am waiting for confirmation from bplant management to attend EGM. one of the option is voting. main shareholder like LTAT members will be voting with us during EGM...let see the result during EGM....
If go ahead good for B Plant?
we need to get clear explaination from board of directors/management during EGM meeting..
for me, until then, i leave my options open...
Why other CPO company no chance?
maybe board of directors have the answer....since this CPO company really want to get the land, when other company reject the deal...must have the reason for that...if the reason is not good, of course main shareholders will reject the deal supported by minority like us during the EGM meeting....
11/09/2017 09:42
malaysiakuku apa lagi tunggu...dividen on the way...Alhamdulillah, dapat rezeki minggu hadapan.....
11/09/2017 12:37
dayang_suri take dividend first and the rest can think later....
11/09/2017 23:02
Yippy68 dutaland share up due to the sale of land and bplant down due to that purchased land, see the difference and management should think wisely.,,cancel that deal, bplant up and dutaland will go back to 40 sen. hope this happened....and the price of that land will drop to 500 millions...then we talk.
12/09/2017 00:27
Yippy68 dutaland share up due to the sale of land and bplant down due to that purchased land, see the difference and management should think wisely.,,cancel that deal, bplant up and dutaland will go back to 40 sen. hope this happened....and the price of that land will drop to 500 millions...then we talk.
12/09/2017 00:28
Yippy68 the question that needed an answer is how many potential buyers after that land.. If bplant is the only one....then.... easy to decide.....what say you @Micheal_Jackson....
12/09/2017 00:49
Albukhary Most likely the land deal will be on. Actually the piece of land is very good potential, if not IOI Corp last time wont offer RM830mil to acquire it. Many people thought Bplant is paying a high price it, when they compare the revenue and profit generated from the land.

You guys must understand, Dutaland is not a p rofessional planter, they don't know how to manage plantation estate, and their internal control are very very bad. Dutaland has never have intention to become a plantation company, they boss hold the land is just waiting for it to appreciate over the years, and waiting for real plantation company like IOI Corp and BPLANT to acquire it.

I believe after BPLANT acquired the estate from Dutaland, BPLANT can release the potential of the estate. Given the size of 11k hectare, it should be able to generate RM250mil revenue, and based on minimum 15% profit margin, it can turn to RM37.5mil profit per annum, based on current CPO price.

If let said CPO increase by 20% in the next few years, the the profit generated from this land will be baloon to RM60-75mil per annum easily.

Somemore BPLANT is holding so much of cash now, so it must increase its land bank immediately, because land price are appreciate every year, you cant wait until CPO price stand above RM3000 then only acquired, by that time DUtaland will ask for RM900mil d.

Therefore, I think RM750mil is a fair and reasonable price, the deal sure will on.
12/09/2017 00:51
Albukhary This is just like Semenyih land 7-8 years ago, before SP Setia and Ecoworld start to acquire the land there. Last time, Semenyih terrace house 20ft x 75ft maximum can sell for RM250-350k, so the land at the not worth money. But after SP Setia and Ecoword acquired the land, they plan the township, and bring up the selling price from RM250k-300k to RM600-700k.

Why, because last time those land owner are not professional property developer, they don't know how to plan the township, they don't know how to maximise the revenue from the land. They are just sitting on the land, and waiting for Property Developer to acquire it.

Same scenario are reflect in Dutaland.
12/09/2017 00:57
Yippy68 Thank you@albukhary, appreciate some of the good points , hope it will work out well .
12/09/2017 01:56
free2invest Good! CPO price above 1850 already.
13/09/2017 17:52
Chua Zhi En 2850?
13/09/2017 22:10
Myway BPlant is generating much lower than industry return from its existing plantation. This reflect poor management quality of BPlant and the management quality of its ultimate parent is questionable too. BPlant has huge borrowing as shown in the latest financial report ! There are so many more undervalued good private plantations counter out there to choose from . I have recently switch from BPlant to SOP and my decision is seem right as SOP has risen from RM3.55 to RM3.98. Whereas BPlant price is down .
14/09/2017 06:47
Yippy68 @myway, thank you for sharing,... for discussion and benefit of share holder, @albukhary may help to tell us on those facts that @myway has mentioned thank you.
14/09/2017 09:12
speakup we can talk about the acquisition till cows come home, but as long as Bplant can pay 7-8% dividend/year (>2X FD rate), it is GOOD to hold. Remember why u are in Bplant in the first place : HIGH DIVIDEND
14/09/2017 09:39
Myway Can the dividend yield be sustained if earning is poor and at the same time spending huge sum in acquisition ?
14/09/2017 20:01
Yippy68 @ MYway, if they sell more prime land , it is possible.. If they sell the other piece of land beside the land sold to sp setia , they will pocket another RM700 millions, that make up total of RM 1.32 billion...less 750 million on dutaland acquisition of 11,000 hectare., they still have balance 570 millions to pay out as dividend or capital refund of 35.6 sen per share. so, now you now how KAYA is bplant. (all done by selling 1350 hectare of prime land to carry out two fantastic events) what about land at Semenyih , Kulai, Pengerang johore etc etc....BUY BUY BUY ...at 1.63, still very cheap. I hope i can cheer up all the share holder, ( provided they listen to us, and do as what we suggest.)
14/09/2017 22:09
Yippy68 be patient brothers, long term holder will be very rich...one day...
14/09/2017 22:13
Yippy68 @MYway, if you have 20 millions in the bank and collect interest of 800,000 a year, will you worry people laughing at you for working on a small income of 2,000 a month...Bplant need to sell another small portion of prime land to pay up RM 395 million in loan, bplant will be debt free, cash rich over night,
14/09/2017 22:20
Yippy68 wow ...cpo 2873
14/09/2017 23:26
michael_jackson @Yippy68...for me, i will go with management decision...this is because i based on my own analysis studies....the crowd mostly follow psychology emotion when they see, read or heard the bad news in share prices..i learned very much since i started trading 10 years ago and invested in several construction, banking, plantation and f&b stocks.....the point is let the investors make their own decision...same like my previous stock in tmakmur, really good plantation because of bauxite mine...share prices didn't move very much until it is delisted from bursa one year later.....
15/09/2017 18:10
michael_jackson @Myway...i don't think bplant earning is so poor and spending huge sum in acquisition....maybe you need to do deep studies on bplant financial report before come to that conclusion...anyway, the acquisition, still not yet confirm....are you worry about dividend and share prices??? that's how the market react when the bad news appeared.....for me, i use logical thinking, so i don't make hastily decision...
15/09/2017 18:45
Myway Earning from plantation operation is really bad! Pls see below.

NPAT from operation (Mar-Jun 17)was $21 mil and EPS was 1.42 sen only. If you annualised the EPS base on Mar-Jun 17 quarter (which was favourable), EPS full year may just be 5-6 sen!

NPAT (Mar-Jun 16) was $96.1 mil and EPS was 6.1 sen. But in Mar-Jun 16 period, the high NPAT is contributed by gain on disposal of plantation land $89.6 mil. If you strip off this exceptional gain (which was tax free), the NPAT from operation (Mar-Jun 16) was only $6.5 mil and EPS was 0.5 sen only.

You can see that Bplant only sustained the earning and dividend by selling land/assets. Is it good ?? They can not earn enough from pure plantation operations. Their pure plantation return is well below the industry. This is a reflection of poor management. I have no faith in this GLC management.

Do not buy BPlant for its plantation business. You may buy Bplant for speculation of more asset monetisation to sustain dividend.
16/09/2017 07:28
4444 Good question. The answer is no.

Posted by Myway > Sep 14, 2017 08:01 PM | Report Abuse
Can the dividend yield be sustained if earning is poor and at the same time spending huge sum in acquisition ?
18/09/2017 04:04
4444 Different is B Plant is unlike SP Setia or Ecoworld to turnaround Dutaland.

Posted by Albukhary > Sep 12, 2017 12:57 AM | Report Abuse
This is just like Semenyih land 7-8 years ago, before SP Setia and Ecoworld start to acquire the land there. Last time, Semenyih terrace house 20ft x 75ft maximum can sell for RM250-350k, so the land at the not worth money. But after SP Setia and Ecoword acquired the land, they plan the township, and bring up the selling price from RM250k-300k to RM600-700k.

Why, because last time those land owner are not professional property developer, they don't know how to plan the township, they don't know how to maximise the revenue from the land. They are just sitting on the land, and waiting for Property Developer to acquire it.

Same scenario are reflect in Dutaland.
18/09/2017 04:07
cpo_ You got write to them? If not they only think Dutaland is the 1 worth buying.

Posted by Yippy68 > Sep 4, 2017 08:13 AM | Report Abuse
do not worry... bplant may cancel this deal..they are now busy doing deep study on this,..to .management of bplant , we are rich and rich is king. we can afford to choice and pick the best.not necessary dutaland.
18/09/2017 04:11
free2invest Dutaland counter keeps moving up, but this counter not moving. Can you smell something?
18/09/2017 14:54
free2invest Only if the Dutaland land purchase deal is called off, then will see reverse trend.
18/09/2017 15:20
free2invest Has anyone received the dividend?
19/09/2017 11:38
IlmuKhodam i received. thank bplant.
19/09/2017 17:28
free2invest Yahoo! I received my dividend too....thank you Bplant

Going to withdraw money now ....hehehe....

Is this called laughing to the bank?
19/09/2017 17:55


 

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