Highlights
KLSE: PINEPAC (1902)       PINEHILL PACIFIC BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
0.29   +0.015 (5.45%)  0.275 - 0.29  110,800
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Overview

Market Cap: 43 Million
NOSH: 150 Million
Avg Volume (4 weeks):33,426
4 Weeks Range:0.255 - 0.30
4 Weeks Price Volatility (%):
77.78%
52 Weeks Range:0.245 - 0.45
52 Weeks Price Volatility (%):
21.95%
Average Price Target:-

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2019 [#4]  |  29-Aug-2019
Next QR | Est. Ann. Date: 30-Sep-2019  |  28-Nov-2019
T4Q P/E | EY: -1.50  |  -66.85%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.43  |  0.67
T4Q NP Margin | ROE: -196.68%  |  -45.09%

Headlines

Date Subject
14-Jan-2019 飞上枝头的派恩/万年船

Business Background

Pinehill Pacific Bhd operates as an investment holding company, which engages in the development and operation of palm oil plantation. It operates through the Plantation and Investment Holding segments. The Plantation segment which contributes majority revenue engages in the business of cultivation of oil palm and processing of palm oil and offers crude palm oil, palm kernel and other oil palm products for sale. The Investment Holding segment invests and provides management services.
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  jupiter 53 likes this.
 
MoneyShow3 Approval obtained, the sale is now UNCONDITIONAL, would be completed by 1st Q June 2020 which is actually by September 2019.
Downside is that due to the extension in lease and the surrender of 10% of some land, the vendor could compensate 12.5m to the Utdplantation.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6188621

We refer to the Company’s announcements dated 21 September 2018, 27 September 2018, 26
December 2018, 18 January 2019 and 17 May 2019 in relation to the Proposed Disposal.
On behalf of the Board, Kenanga Investment Bank Berhad wishes to announce that each of the
Vendor had on 10 June 2019 entered into 3 supplemental agreements (“SAs”) to the SPAs with
the Purchaser.
The SAs were entered into to vary certain terms and conditions in respect of the payment and
timing of release of Disposal Consideration of the SPAs as a result of the conditions imposed by
the Pejabat Pegarah Tanah Dan Galian’s (“PTG”) in their approval dated 7 May 2019 to the
Purchaser pursuant to the Purchaser’s application for approval under Section 433B of the
National Land Code, 1965 for the acquisition and transfer of the Plantation Assets (“S433B
Approval”). The Purchaser had accepted the terms and conditions of the S433B Approval on 10
June 2019


EFFECTS TO PINEPAC
Based on the circumstances imposed by the authority on the Purchaser, PinePac may be subject
to compensate the Purchaser RM12.5 million. This represents approximately 3.0% of total
proceeds of RM413.57 million from the Proposed Disposal.
The potential RM12.5 million compensation however, is subject to the following events:
(i) The Vendor or Purchaser is required by the appropriate authority to commence and/or
implement the Required Exercises in respect of the Plantation Assets before the
presentation and the registration of the transfer in favour of the Purchaser.
(ii) the appropriate authority does not require either the Vendor or the Purchaser to
commence and/or implement the Required Exercises before the presentation and the
registration of the transfer in favour of the Purchaser, then for a period of 12 months
thereafter, the RM12.5 million may be payable to the Purchaser if the Joint Stakeholders
receives a Retention Sum Notice from the Purchaser.
In the event, none of the above event materialises, the compensation therefore will not take effect.


On behalf of the Board of PinePac, Kenanga Investment Bank Berhad wishes to announce that
all conditions precedent of the SPAs have been fulfilled by the Parties and accordingly, the SPAs
have become unconditional on 10 June 2019.





Accumulation mode all the way. Fly fly fly.....
11/06/2019 8:33 PM
Sebastian Power RM413.57-RM12.5 = still got 400mil++

water water only
12/06/2019 9:04 AM
Sebastian Power no need greedy actually. Just take 10% of that 400mil as specialDIV

also can get 26cents liao.. Simple mathematic
12/06/2019 9:06 AM
Richard Lee don't blow. If the deal so good cannot be only you alone know? All people wil come buy before you
12/06/2019 2:57 PM
MoneyShow3 Indonesia and Malaysia kicking off their bio-diesel programs

https://www.reuters.com/article/us-indonesia-biodiesel/indonesia-starts-testing-30-biodiesel-in-cars-amid-push-to-boost-palm-oil-consumption-idUSKCN1TE0KW
13/06/2019 11:38 PM
Siijon Spa has became unconditional but mkt is not reacting to that. Is there still a case for a rally?
21/06/2019 2:04 PM
chanky50 Pinepac not even a single lot traded until now. At 0.315/0.325 only 10 buyers and 7 sellers, very funny. The Rm413 millions deal is to be concluded before end of September 2019. After deducting Rm34 million of loan from Directors, Rm127 million bank loan and Rm48 million 'Trade and other payables', it still have cash of Rm204 million. Divided by its issued shares of 150 million, that is cash of Rm1.36 per share. Is there a catch somewhere or there is something in the account that I don't understand or overlooked.
24/06/2019 12:24 PM
chanky50 All the market Sifu, please advise.
24/06/2019 12:25 PM
iyin666 PROPOSED UTILISATION OF PROCEEDS
The Proposed Disposal is expected to raise gross cash proceeds of RM413,574,302.49 million,
which are expected to be utilised as follows:

(1)Repayment of bank borrowings of PPM (1) Rm126,700
(2)Payment to all creditors of PPM, SKMP
and TRT Rm109,500
(3)Funding the existing oil palm plantation
business in Indonesia Rm70,000
(4)Dividend to minority shareholders in
PPM Rm2,400
(5)Working capital Rm74,974
(6)Estimated expenses Rm30,000
Total 413,574
Notes:
After paying to bank, creditors, suppliers commissions to agents, etc., nothing left for dividend.
01/07/2019 7:53 PM
MoneyShow3 Independent advisors report is our and the board will proceed with the disposal.

Once the cash is in the bank and word gets around, there could be other biz proposals and a change in the utilisation.
03/07/2019 7:25 PM
Atlan Cash rich soon. That is why no volume as no contra player.
04/07/2019 9:15 PM
Atlan Got one seller at 33 sen trying to block a sudden surge in the price. A good strategy as it will give time for other investor to catch up n share the cake.
04/07/2019 9:18 PM
MoneyShow3 Another 8 weeks. Doubt there would be any contra play, most buy and await the spike
08/07/2019 11:38 PM
chanky50 If no spike how?
10/07/2019 4:30 PM
Atlan Sure spike one as it will b a cash rich co.
13/07/2019 9:07 AM
apolloang butaland more cash rich but only 0.44cts.....hahaha
15/07/2019 12:00 AM
Mone1 So wait until September or what?
22/07/2019 10:45 AM
MoneyShow3 no need to wait till Sept, next 2 to 3 weeks you will see something..
24/07/2019 7:55 PM
Richard Lee this indian ah nie company susah la.

http://www.pinepac.com.my/aboutus/team.php
24/07/2019 8:26 PM
Atlan Chanky50- u know now why every one is waiting..Is for the RM204m cash balance .
25/07/2019 5:29 PM
Atlan Most people forget the high time when the disposal was announced.
25/07/2019 5:31 PM
MoneyShow3 On 21 September 2018, United Plantations Bhd entered into 3 conditional sale and purchase
agreements (“SPAs”) with Pinehill Pacific Berhad’s group of companies to purchase agriculture
lands measuring approximately 8,999 acres together with a palm oil mill in Daerah Hilir Perak
for a total combined purchase consideration of RM413.57 million (“Proposed Acquisition”).
Barring unforeseen circumstances, we expect that this Proposed Acquisition will be completed
in August 2019.

3 wks to 60sen
30/07/2019 7:04 AM
Atlan Good.
30/07/2019 11:04 AM
MoneyShow3 Next week PINEPAC shld be moving to new highs...
12/08/2019 1:16 PM
osseng74 Oh someone is pushing the price down to collect at cheaper price. Very dirty
14/08/2019 11:06 AM
MoneyShow3 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
18/08/2019 11:09 PM
MoneyShow3 Starting to move...
20/08/2019 12:53 PM
MoneyShow3 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.
29/08/2019 6:40 PM
MoneyShow3 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?
29/08/2019 9:51 PM
OngLiao99 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
02/09/2019 11:22 PM
Atlan It will reward shareholders in one or another way.
03/09/2019 5:42 PM
osseng74 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
03/09/2019 8:08 PM
MoneyShow3 Payment received. No further losses from the Msian plantations. Time to focus on building up new productive assets
03/09/2019 9:47 PM
Mone1 What happened
12/09/2019 1:04 PM
glen1980 Pn 17...GG
19/09/2019 3:51 PM
osseng74 Unlikely PN17. Look at the hugh indonesia plantation size which will replace the currently sold small Malaysia plantation. Buy when others fear most.
20/09/2019 11:49 AM
Vijai Deb Palta The Company has disposed its subsidiaries plantation assets as disclosed in Note 23. The vacant
possession was delivered to the Purchaser on 16 Aug 2019. The completion date is expected to occur in 1st quarter of FY2020 upon receiving of sale proceed.
Therefore, the current year prospect of the Company is depending on the performance of its oil palm development project in Indonesia subsidiaries which require additional investment for infrastructure to facilitate upkeep and harvesting
27/09/2019 3:57 PM
MoneyShow3 The share price shld move to 60sen soon once the confirmation of money receipt and repayment of debts. That would be part of its regularisation plan with additional working capital declared to build up the Indonesian plantations. Good lone term prospects on a younger plantation asset
28/09/2019 5:57 PM
Sebastian Power This ah nie company susah la
http://www.pinepac.com.my/aboutus/team.php
02/10/2019 9:45 AM
bishibashi apa susah?
14/10/2019 12:11 PM
Vijai Deb Palta If you are looking for quick gains then dont touch. Look at its major share holders in Singapore. The deal is done and its only a few months and the money will come. The NTA is about 50sen. Even if its delisted you will get paid. Look more buyers daily then sellers.
15/10/2019 3:02 PM
caricklim any good news??
16/10/2019 9:23 PM
Vijai Deb Palta Look at the number of buyers versus sellers
18/10/2019 12:42 PM
chanky50 The book value for the 8,99.13 Acres was Rm240.046 million. Surplus over the book value is Rm413.574 - Rm240.046 = Rm173.528 million. If divided by its 149.8 million shares, its earning for quarter ending September can be as high as Rm1.15 per share with Net assets increase from 43 sens to Rm1.58.
30/10/2019 7:26 PM
chanky50 sorry it is 8,999.13 acres. Typing error.
30/10/2019 7:28 PM
MoneyShow3 Should see some movement in share price before the AGM. They will surely have to also revise the NTA end Nov. Expect it to move to 50sen first then higher to reflect all the surplus cash and clean balance sheet position
03/11/2019 11:02 PM
Mone1 Very slow
06/11/2019 11:44 AM
Atlan Soon goods news will come. B ready.
09/11/2019 12:43 PM
MoneyShow3 Buyers shld start mopping up this week.
11/11/2019 12:23 AM
Kenny Yap Looking forward the forthcoming positive Q1 results & AGM news... Price will rocket!!!
11/11/2019 12:25 AM


 

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