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669 comment(s). Last comment by Gore Victor Lee at Aug 29, 2019 3:11 PM
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qqq3
13623 posts

Posted by qqq3 > Mar 23, 2019 10:48 AM | Report Abuse

the SEE Family has lost Kianjoo years ago.........while the brothers were fighting, Canone boss has taken control of Kianjoo years ago.......


sheldon
889 posts

Posted by sheldon > Mar 24, 2019 9:39 AM | Report Abuse

lionel messi - I am very surprised the See family and EPF were not able to stop this rip off exercise.

Likewise - i was wondering how come EPF & See did not team up & call a meet to clarify & discuss the strategy in response to this MGO. In my text messages with Anthony, strangely he just advised me not to sell but sign the form to save on brokerage - none of his usual protest.


sheldon
889 posts

Posted by sheldon > Mar 24, 2019 9:46 AM | Report Abuse

If you look at Can1 annual report, EPF is not in the top 30. Hence they have interest to ensure that they the get full compensation for their KJ stake.

Unlike us, EPF & to a lesser extent the Sees have the gravitas to squeeze more from this acquisition.


lionel messi
29 posts

Posted by lionel messi > Mar 24, 2019 10:55 AM | Report Abuse

Sheldon, like I said, maybe they are being pushed to a corner. Damn if you do, damn if you don't. Maybe age is catching up, too tired to fight anymore. But maybe not....

Smart market players like them must have a plan B. It's in their blood. One workaround is to buy into Canone since it is listed and if it's undervalued.

Too illiquid, tightly held and no scrip? Wait till they proposed a massive rights issue to pay off debts. Will be plenty of sellers then.

Canone cannot run away from a capital raising exercise because their capital base is too small to support their operations. After the KJoo takeover, they are now in the billion ringgit turnover category.

KJoo subsidiary Boxpak is next to be taken over since more than 90% of the shares are held by the top 30 shareholders and little or no trading everyday. Makes sense to delist since it's way below book value, consolidate the whole operations and move away from all the compliance issues.


sheldon
889 posts

Posted by sheldon > Mar 25, 2019 10:46 PM | Report Abuse

Looks like it's game over as EPF has sold out


ctooi51
209 posts

Posted by ctooi51 > Mar 29, 2019 10:56 PM | Report Abuse

just wanted to know if canone has start issuing cheque for the conditional take over of Kian Joo shares? thank you


sheldon
889 posts

Posted by sheldon > Mar 30, 2019 9:32 AM | Report Abuse

Cheques will be issued on 1 Apr.


sheldon
889 posts

Posted by sheldon > Apr 2, 2019 11:19 AM | Report Abuse

Received the $


ivan9511
3735 posts

Posted by ivan9511 > Apr 2, 2019 11:21 AM | Report Abuse

@sheldon

they pay us with cash money or cheque ?
send cheque ? ? ?


sheldon
889 posts

Posted by sheldon > Apr 2, 2019 3:13 PM | Report Abuse

Your cheque is probably in the mail.

I called Tricor & told them to bank the cheque in for me


ivan9511
3735 posts

Posted by ivan9511 > Apr 2, 2019 4:17 PM | Report Abuse

@sheldon

Thanks sheldon


sheldon
889 posts

Posted by sheldon > Apr 3, 2019 8:46 AM | Report Abuse

So I guess this is where we say our goodbyes. No more KJ if it's delisted.


ctooi51
209 posts

Posted by ctooi51 > Apr 5, 2019 2:46 PM | Report Abuse

ok.. cheque just received and bye bye to the conman of canone.


sheldon
889 posts

Posted by sheldon > Apr 8, 2019 9:15 AM | Report Abuse

There's a write up on The Edge on this - go to get a copy


Lukey_Greek
93 posts

Posted by Lukey_Greek > Apr 28, 2019 9:48 AM | Report Abuse

Checkmate


tsiang
3 posts

Posted by tsiang > Jun 3, 2019 8:13 PM | Report Abuse

so how shareholder will receive the money after Canone done the acquisition? when will shareholder receive money ?


Larrytrader
1277 posts

Posted by Larrytrader > Jun 10, 2019 10:52 PM | Report Abuse

Same question


Gore Victor Lee
167 posts

Posted by Gore Victor Lee > Aug 29, 2019 3:09 PM | Report Abuse

WONDER WHEN WE CAN GET THE MONEY...ANYONE ASKTHE CANONE BOSS?


Gore Victor Lee
167 posts

Posted by Gore Victor Lee > Aug 29, 2019 3:11 PM | Report Abuse

THE AGM HELD ON 24 MAY 2019, THE BOSS SAID WILLPAY BY 3 MONTHS.......NOW ALREADY 3 MONTHS....HOPEFULLY GOT LATEST INFO...AND NEWS

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