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409 comment(s). Last comment by Mone1 at Sep 12, 2019 1:04 PM
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MoneyShow3
84 posts

Posted by MoneyShow3 > Aug 18, 2019 11:09 PM | Report Abuse

Yes no sellers, just someone throwing down and the closing at 30sen again. It would trigger a day or 2 before the money is paid. Watch for the announcements from United plnt, they will announce first and usually their announcements are clear and timely


MoneyShow3
84 posts

Posted by MoneyShow3 > Aug 20, 2019 12:53 PM | Report Abuse

Starting to move...


MoneyShow3
84 posts

Posted by MoneyShow3 > Aug 29, 2019 6:40 PM | Report Abuse

On 21 September 2018, subsidiaries of the Company as stated below entered into three separate
conditional sale and purchase agreements (“SPAs”) with United Plantations Berhad to dispose the
plantation assets located in the district of Hilir Perak, Perak, measuring approximately 8,999.13 acres,
for a total cash consideration of RM413,574,302 as detailed out below:
a) 5 parcels of land measuring approximately 7,615.42 acres together with all structures attached to
the land including a palm oil mill, workers’ living quarters and site office owned by Pinehill
Plantations (Malaysia) Sdn Bhd. (“PPM”), a 94.5% owned subsidiary of the Company for a cash
consideration of RM350,301,630;
b) a parcel of land measuring approximately 954.42 acres owned by Syarikat Kaum Melayu Hilir
Perak Sdn Bhd, a wholly owned subsidiary of PPM for a cash consideration of RM43,525,933;
and
c) a parcel of land measuring approximately 429.29 acres owned by Tahir, Rozlan and Tasariff Sdn
Bhd, a 91.33% owned subsidiary of PPM for a cash consideration of RM19,746,739.
The above collectively referred to as “Proposed Disposal”. As at the date of authorisation of these
financial statements, the Proposed Disposal is yet to be completed pending fulfilment of the
conditions precedent of the SPAs.
On 27 December 2018, the Circular to shareholders in relation to the Proposed Disposal was issued to
all shareholders of PinePac.
On 18 January 2019, the shareholders of the Company approved the Proposed Disposal in the
extraordinary general meeting (“EGM”).
On 17 May 2019, both the Company and United Plantations Berhad had mutually agreed to extend the
PPM Conditional Period, SKMP Conditional Period and TRT Conditional Period for a period of 2
months until 21 July 2019 to comply with the PPM Conditions Precedent, SKMP Conditions
Precedent and TRT Conditions Precedent, respectively.
On 11 June 2019, the Company announced that both the Company and United Plantations Berhad had
on 10 Jun 2019 entered into 3 supplemental agreements to the SPAs.
On 3 July 2019, the Board is of the view that the Supplementary Agreements (“SAs”), do not require
shareholders’ approval as the special resolutions in relation to the Proposed Disposal as passed by the
shareholders of the Company during the EGM on 18 January 2019, are adequate for the variation to
the terms of the Proposed Disposal pursuant to the SAs which are in the best interests of the Company
and its shareholders.
On 16 August 2019, the vacant possession was delivered to United Plantations Berhad.


MoneyShow3
84 posts

Posted by MoneyShow3 > Aug 29, 2019 9:51 PM | Report Abuse

MYR Asset Held for Sale Gain
Sale Proceeds 413,574.00 225,032.00 188,542.00
ST Borrowings -126,798.00
Trade AP -51,093.00
Owing to Previous owner
&Director -34,292.00
Cash Balance : 201,391.00

Potentially 80M for WC to develop Indonesian plantations


NTA w/o WC RM 1.34
NTA less WC RM 0.81

Current share price RM0.31....wow....

is the above right?


OngLiao99
266 posts

Posted by OngLiao99 > Sep 2, 2019 11:22 PM | Report Abuse

Are you calculating base on nett cash balance? Go figure.. $201m over 149m shares... You think the share price will reflect that? Doubt it'll move much unless a special dividend is declared or the company is taken private


Atlan
89 posts

Posted by Atlan > Sep 3, 2019 5:42 PM | Report Abuse

It will reward shareholders in one or another way.


osseng74
101 posts

Posted by osseng74 > Sep 3, 2019 8:08 PM | Report Abuse

NTA will be increased definitely as the company is the major owners of its subsidiaries that sold the land. Cash proceeds will be owned the company under consolidated accounts. The large Indonesian plantation yields will contribute significantly compared to small Malaysia plantation


MoneyShow3
84 posts

Posted by MoneyShow3 > Sep 3, 2019 9:47 PM | Report Abuse

Payment received. No further losses from the Msian plantations. Time to focus on building up new productive assets


Mone1
2 posts

Posted by Mone1 > Sep 12, 2019 1:04 PM | Report Abuse

What happened

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