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Author: Icon8888   |   Latest post: Mon, 25 Nov 2019, 11:10 AM

 

(Icon) Luxchem (3) - Acquisition of New Asset Delights Me

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I wrote about Luxchem in January and July 2015 respectively.

http://klse.i3investor.com/blogs/icon8888/67652.jsp

http://klse.i3investor.com/blogs/icon8888/80653.jsp

 

I like this company very much. It is a beneficiary of low oil price, but only exports approximately 20% of its products. This means that I don't need to constantly worry about the impact of Ringgit strengthening. My only complain is that it seemd to lack a growth story. 

 

However yesterday, Luxchem announced that it is acquiring 100% stake in Transform Master Sdn Bhd (TMSB) for a purchase consideration of RM46 mil to be satisfied by the following :-

(a) RM36.8 mil cash; and

(b) RM9.2 mil new Luxchem shares (5.2 mil shares @ RM1.77).

 

TMSB seemed to complement Luxchem's existing business of selling chemicals to glove manufacturers (Luxchem's main business is actually in manufacturing and trading of Unsaturated Polyester Resin). The following description is extracted from the announcement :- 

 

 

 

 

It seemed that Luxchem forgot to include financial details of TMSB in its announcement. Very likely this will trigger queries by Bursa. Let's wait for the company to furnish the information.

 

On a separate note, Luxchem is expected to announce its December 2015 quarterly result by end of this week (it always releases its result approximately 1 month from close of reporting period).

 

Like i3 forum members like to say, "I bought pop corn already".

 

 

 

 

 

 

 

 

 

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Labels: LUXCHEM

Related Stocks

Chart Stock Name Last Change Volume 
LUXCHEM 0.48 +0.005 (1.05%) 10,000 

  7 people like this.
 
NOBY Icon as sharp as ever !
28/01/2016 10:15 AM
Icon8888 ah, Noby I read it from newspaper !
28/01/2016 10:25 AM
hissyu2 hmm... I like luxchem very much~~
28/01/2016 9:51 PM
PlsGiveBonus Transformer master nice
28/01/2016 9:53 PM
Ven Pandora18 Steadily income.
28/01/2016 10:05 PM
G-boy icon888
u said u bough pop corn already mean u ady buy ticket to enter this show?
haha
04/02/2016 11:39 AM


 

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