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669 comment(s). Last comment by James Ng at Nov 18, 2020 7:11 PM
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dingdonghuat
395 posts

Posted by dingdonghuat > Nov 17, 2020 8:14 PM | Report Abuse

No selling on news...steady pom pi pi


dingdonghuat
395 posts

Posted by dingdonghuat > Nov 17, 2020 8:15 PM | Report Abuse

Rm 3.1 big money.....so happy for everyone


dingdonghuat
395 posts

Posted by dingdonghuat > Nov 17, 2020 8:15 PM | Report Abuse

I hope you all bought enuf for financial freedom


dingdonghuat
395 posts

Posted by dingdonghuat > Nov 17, 2020 8:16 PM | Report Abuse

Tomorrow let us reach the pinnacle together hand in hand


dingdonghuat
395 posts

Posted by dingdonghuat > Nov 17, 2020 8:17 PM | Report Abuse

Dakewlest, u did the right choice.. tomorrow sure huat


dp_pupi
16 posts

Posted by dp_pupi > Nov 17, 2020 8:19 PM | Report Abuse

Busuk2 also besok open $3.1 kekekekke


ilovekl
152 posts

Posted by ilovekl > Nov 17, 2020 8:32 PM | Report Abuse

Ok tomorrow can delete this stock n q sell back to Batu Kawan


ilovekl
152 posts

Posted by ilovekl > Nov 17, 2020 8:32 PM | Report Abuse

Thanks all for the short but entertaining trip


gemfinder
2883 posts

Posted by gemfinder > Nov 17, 2020 9:49 PM | Report Abuse

No more upside. The most is 2.9x


observatory
70 posts

Posted by observatory > Nov 17, 2020 9:51 PM | Report Abuse

Now we know why the CCM share price has moved up from RM1.23 in Oct2 to RM2.79 today. It was just announced that Batu Kawan would buy PNB's 56% stake of CCM at RM3.10. This would trigger a mandatory general offer.

https://www.thestar.com.my/business/business-news/2020/11/17/batu-kawa...

What is interesting is that the CEO of CCM, Encik Mukri bin Harun, who used to own zero shares in his company, announced the intention to deal in CCM shares on 3 Nov.

https://www.bursamalaysia.com/market_information/announcements/company...

The CEO then bought 120,00 shares on Nov 9 and 10 at an average price of RM2.28. What a coincidence!

https://www.bursamalaysia.com/market_information/announcements/company...

Is the CEO going to cash out at RM3.10, which would have netted him a 36% profit or close to RM100k?

Perhaps Encik Mukri bin Harun has merely expressed his strong confidence in the company's future under his stewardship? In that case, he should forgo the MGO. He should hold his shares for the long term, casting a vote of confidence in his own leadership!


farid
61 posts

Posted by farid > Nov 17, 2020 11:33 PM | Report Abuse

Batu Kawan Bhd, which controls Kuala Lumpur Kepong Bhd, has proposed to buy a 56.32% stake in Chemical Company of Malaysia Bhd (CCM) from Permodalan Nasional Bhd (PNB) for RM292.97 million cash, or RM3.10 per share.Subsequently, Batu Kawan will make a mandatory general offer at RM3.10 per share to buy all the remaining shares in CCM.Batu Kawan said it intends to maintain the listing status of CCM on Bursa Malaysia subsequent to the MGO.The transaction price of RM3.10 represents a premium of 11.11% over CCM's closing price of RM2.79 today — the highest level in 12 years.


firehawk
3414 posts

Posted by firehawk > Nov 17, 2020 11:33 PM | Report Abuse

ya lor, before announcement already risen very significantly ... it's insider tradings .....


farid
61 posts

Posted by farid > Nov 17, 2020 11:33 PM | Report Abuse

Batu Kawan said it had entered into a conditional share purchase agreement with PNB and Amanahraya Trustees Bhd (ART), both collectively holding 56.32% stake in CCM.
ART is a trustee for Amanah Saham Malaysia, Amanah Saham Bumiputera and Amanah Saham Bumiputera 3-Didik unit trust funds for the proposed transaction.
At RM3.10 apiece, the purchase consideration represents a premium over the last transacted price and volume weighted average market price (VWAMP) of CCM shares up to and including Nov 16.
It said the premium was between 27.52% and 107.43% for five-day and one-year’s VWAMP of CCM shares of RM2.43 and RM1.49 respectively.The proposed acquisition will be funded via internal funds whereas the proposed offer will be funded via internal funds and/or bank borrowings.


farid
61 posts

Posted by farid > Nov 17, 2020 11:34 PM | Report Abuse

Batu Kawan said the acquisition will increase the group’s market presence as a chlor-alkali chemicals manufacturer as well as to unlock value through the realisation of operational efficiencies in logistics, distribution and procurement.
CCM saw a steep climb on its share price since mid-October on news that PNB was mulling over divesting its stake in CCM.
CCM is principally an investment holding and management company whilst its subsidiaries are engaged in the manufacturing and marketing of chlor-alkali chemicals and polymers products and services. Caustic soda is the group’s core product.
CCM has a three-year supply contract with Petroliam Nasional Bhd (Petronas) to supply 351,000 tonnes of caustic soda for Refinery and Petrochemical Integrated Development (Rapid) Project in Pengerang, Johor. The contract commenced in April last year.


farid
61 posts

Posted by farid > Nov 17, 2020 11:34 PM | Report Abuse

CCM’s polymer division’s products are being used by the glove industry, and good demand is expected to continue for the remainder of 2020.
The proposed acquisition is subject to the consent of a lender bank in respect of the banking facilities provided to the CCM group for the transfer of the sale shares. However, the proposals are not subject to approval of the shareholders of the company.
Subject to the fulfilment of the condition precedent, the proposals are expected to be completed by the first quarter of 2021.


Hush77
1084 posts

Posted by Hush77 > Nov 18, 2020 10:26 AM | Report Abuse

now u can take profit, unless u think they will offer u higher later..


ilovekl
152 posts

Posted by ilovekl > Nov 18, 2020 12:15 PM | Report Abuse

Give them back lio la... can’t fully earn them. Give and take la. I not greedy to max earn them. Consider good lor Batu Kawan give such a premium


Dakewlest
1390 posts

Posted by Dakewlest > Nov 18, 2020 12:18 PM | Report Abuse

I keep some for future since batu kawan will keep the listing for ccm in bursa.


James Ng
2006 posts

Posted by James Ng > Nov 18, 2020 7:11 PM | Report Abuse

https://klse.i3investor.com/blogs/general/2020-11-18-story-h1536492732.jsp
[转贴] [Video:浅谈CHEMICAL COMPANY OF MALAYSIA BHD, CCM, 2879] - James的股票投资James Share Investing

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