Highlights
KLSE: MFLOUR (3662)       MALAYAN FLOUR MILLS BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.58   -0.04 (6.45%)  0.58 - 0.65  1,973,300
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General Meeting

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Ann. Date Date Time Type Venue View
10-Oct-2018 26-Oct-2018 15:00 EGM Auditorium, 3rd Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
20-Apr-2018 22-May-2018 10:00 AGM Auditorium, 3rd Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
27-Apr-2017 25-May-2017 10:00 AGM Auditorium, 3rd Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
22-Apr-2016 17-May-2016 10:00 AGM Auditorium, 3rd Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
27-Apr-2015 20-May-2015 10:00 AGM Auditorium, 3rd Floor, Wisma MCA 163 Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
21-Apr-2014 14-May-2014 10:00 AGM Auditorium, 3rd Floor, Wisma MCA Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
23-Apr-2013 16-May-2013 09:30 AGM Auditorium, 3rd Floor, Wisma MCA, Jalan Ampang, 50450 Kuala Lumpur Meeting Detail
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  17 people like this.
 
shpg22 Rubbish company with poor management. Downgrade fair price to 0.72 @ 50% discount to book
10/11/2018 00:06
Money122 The managemement to Reduce modal at poultry n Indonesia flour segment ...to reduce losses
11/11/2018 01:59
sapurakencana 1 thing is very sure,poultry will continue incurred loss due to this industry is not their profession,when he continue dump money to this section.finally u wil see the result is ???
11/11/2018 14:51
sapurakencana mflour quite similar with his brother LAYHONG.both of them annouce big projection, after 2 years both incurred loss.very sad
11/11/2018 14:55
Money122 When can this stock rebound up to over 2.00? Who can tell?
21/11/2018 12:57
Jacky Yip MALAYAN FLOUR MILLS BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description

MALAYAN FLOUR MILLS BERHAD ("MFLOUR" OR "COMPANY")

(I) RIGHTS ISSUE OF RCULS

(II) RIGHTS ISSUE OF SHARES

(COLLECTIVELY REFERRED TO AS THE "RIGHTS ISSUE")

(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Company’s Circular dated 11 October 2018)

On behalf of the Board of MFLOUR, HLIB wishes to announce that the Board has today fixed the following:

(i) the conversion price of the RCULS at RM0.50 per RCULS;

(ii) the coupon rate of the RCULS at 5% per annum on the nominal value of the RCULS, payable in arrears on a semi-annual basis;

(iii) the entitlement basis for the Rights Issue of Shares as follows:

2 Rights Shares for every 5 existing MFLOUR Shares held on the Entitlement Date together with 1 Bonus Share B for every 4 Rights Shares subscribed and 1 Free Warrant B for every 4 Rights Shares subscribed;

(iv) the issue price of the Rights Shares at RM0.50 per Rights Share; and

(v) the exercise price of the Free Warrants at RM0.68 per Free Warrant.

The conversion price of the RCULS of RM0.50 represents a discount of approximately 25.93% to the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including 23 November 2018, being the last market day prior to the Price-Fixing Date (“Last Market Day”). In view that the subscription of the RCULS on the basis of 3 RCULS for every 10 existing MFLOUR Shares will be entitled for 1 Bonus Share A for every 2 RCULS subscribed and 1 Free Warrant A for every 2 RCULS subscribed, the effective cost of subscription for the RCULS at the issue price of RM1.00 is RM0.40, which represents a discount of approximately 40.74% to the TEAP of RM0.675 per MFLOUR Share.

The issue price of the Rights Shares of RM0.50 represents a discount of approximately 25.93% to the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day. In view that the subscription of the Rights Shares on the basis of 2 Rights Shares for every 5 existing MFLOUR Shares will be entitled for 1 Bonus Share B for every 4 Rights Shares subscribed and 1 Free Warrant B for every 4 Rights Shares subscribed, the effective cost of subscription for the Rights Shares of RM0.40, which represents a discount of approximately 40.74% to the TEAP of RM0.675 per MFLOUR Share.

The exercise price of the Free Warrants is fixed at RM0.68, which represents a premium of RM0.005 to the TEAP of RM0.675 per MFLOUR Share.

The conversion price of the RCULS of RM0.50 and the issue price of the Rights Share of RM0.50 were determined by the Board after taking into consideration the following:

(i) the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day;

(ii) the effective cost of subscription of the RCULS and Rights Shares is RM0.40;

(iii) maximum discount of not more than 55% to the TEAP of MFLOUR Shares of RM0.675 to encourage the subscription of the Rights Shares and to ensure MFLOUR is able to raise a minimum gross proceeds of approximately RM220 million based on a minimum subscription basis set out in the Circular dated 11 October 2018;

(iv) the prevailing share price movement of MFLOUR; and

(v) the overall funding requirements of the Group.

The exercise price of the Free Warrants was determined by the Board after taking into consideration the following:

(i) the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day;

(ii) the prevailing share price movement of MFLOUR; and

(iii) the overall funding requirements of the Group.

This announcement is dated 26 November 2018.
26/11/2018 21:57
Jacky Yip issue price of RCULS is rm1.00, right?
26/11/2018 21:57
sapurakencana oh,oh, after ex-date of right issue,share price may be drop to 5o cent
27/11/2018 13:17
thenextwave Those who take the right share will damn regret later. This counter is con man counter. No hope.
03/12/2018 23:37
JamesPond Yes conman counter. They announce that effective cost is RM0.50. ROFL....The ffective cost should be 67.5
04/12/2018 14:26
shpg22 MFLOUR is poorly managed company, always running out of cash. Downgrade fair price to 0.50.
11/12/2018 12:31
JamesPond Yes very poorly managed. MFM small co has 10 directors most are politician, accountants and lawyers. None are business people. PPB which is 50 times bigger only has 7 directors
11/12/2018 13:32
66666 Loss QR, RI coming why up?
12/12/2018 05:27
ramada Wrong timing, rights issue comes.
http://malaysiastock.biz/Company-Announcement.aspx?id=1106936
12/12/2018 17:35
commonsense The corporate exercises are a bit confusing. For those that are interested in investing in the company you need to prepare additional money for your subscription to the RCULS and the Right Issues of ordinary shares. If you decide not to subscribe, you will face potential big dilution post the new shares listing.

Assuming you buy 10 lots (1,000 shares) @ 85sen. Your original total cost is RM850.

In order to not be diluted, your are advice to subscribe to both the RCULS and Right issue of
ordinary shares.

Based on 1,000 share, you need to prepare an additional RM300 for your 300 RCULS that you are entitled to (still ok because the RCUL pays 5% interest every year). In addition you would get 150 free shares and another 150 free warrants.

Then you need to prepare another RM200 for the right issue of ordinary shares where you will get 400 shares (RM200/ 50sen ) plus another 100 bonus shares and another 100 warrant.

All in all, if you want to buy 10 lot of MFLOUR shares, you would need to prepare RM 1,350 instead of just RM850. In the end you will get 300 RCULS, 250 warrants and 1,650 shares.

Calculation for the share price post adjustment are:
Total cost for the 1,650 shares are RM850 + RM200 =RM1,050. The RM300 is not included here because that is actually the cost for 300 RCULS.
Share price post adjustment = RM1,050/ 1,650 = 63.5 sens.

If you decide not to subscribe, you will end up losing 21.5 sens post price adjustment which will be a loss of 21.5sen x 1,000 shares = RM215 or 25% of your initial investment. You would also lose out on the opportunity to get 250 tradable warrants.

If you are interested in investing in the company, i would advice you to buy at least 20 lots or 2,000 shares. If you want to buy more than that make sure that you are buying based on blocks of 20 lots (meaning 20, 40 , 60 lots etc). This is in order to prevent having odd lots numbers of shares and warrants later which is difficult to trade.

Feel free to correct me if i had made any error in calculation. I did this for a friend who was interested in the company.

If you are looking to diversify your portfolio outside of commodity based business (due to the current volatility of commodity prices), i would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.8x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. For FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions.

Good luck.
13/12/2018 15:50
dompeilee All those AGM vultures who buy shares to collect their cheap bag of flour now find the flour cannot compensate for their losses.
13/12/2018 16:16
trulyinvest wa mintak duit lagi ka? sell
13/12/2018 16:19
4444 RI 50 sen why pay 80 sen? Buy RI cheaper.
13/12/2018 16:30
Money122 If we not subscribe for the RCULS n right issue,we lose 25%of our ordinary share?
14/12/2018 01:10
lex1999 Post removed. Why?
14/12/2018 01:10
villa1668 As long as government still control the flour price, how you expect the company make a huge profit?
14/12/2018 07:25
dompeilee Finally, the market recognises what I'm been asserting all along - this is an OVERINDEBTED co.!

DOWN 50% in the last 6 months ahead of it begging for $$$ !
14/12/2018 10:25
dompeilee Ex-date on X'mas eve...Merrrrrryyyyy Christmas, gamblers/AGM grabbers !!! https://www.youtube.com/watch?v=MDhIgVy6V7Y
14/12/2018 10:27
jolow Too much chicken killing.
Share price also kena slaughter.
Dont earn money from this type of counter. Bad karma
14/12/2018 10:29
michaelwong B4 ex-date start diluting and dropping. What the heck ?
14/12/2018 10:34
longinvest Careful...they may purposely press it down to fish bottom...
14/12/2018 11:34
ramada Market sentiment is bad, they should cancel the rights issue, but they didn't.
14/12/2018 15:34
iphone4 @commonsense If v choose to convert the RCULS within the 5 years period, v can get another 600 shares. So, effective cost of investment RM1350/2250 = RM0.60 per share excl 250 war
14/12/2018 16:27
signalmw 马华stock?
14/12/2018 16:32
dompeilee Got out of MFlour a little early...in Aug 2016, but no regrets now!

https://4.bp.blogspot.com/-foBkFWLru1U/XBOIZAC3ACI/AAAAAAAADNA/Tq4uahylxhYHYcd-I0gEb16FWSihnb-GwCLcBGAs/s1600/MFlour%2Bsale%2B16%2BAug%2B18.png
14/12/2018 18:42
commonsense Hi iphone4,

You are right to point out that the RCULS can be convertible anytime within the 5 years. But for the calculation of the share price post adjustment, unless there are investors wanting to convert the RCULS at the same time as the listing of the new shares, the price adjustment for conversion will actually be done later. And given that the RCULS provide you with a 5% yield (meaning 5 sens per year) it would be advisable for you to convert the RCULS at the end of the maturity or if for whatever reason the company decides to give a big dividend payout (special dividend for example).

I'll try to give an example.

Using Friday closing price of 71 sens (different from my original example of 85 sens yesterday) . Total initial cost for 10 lots or 1,000 shares is RM710. Same as the previous example given, you will need to prepare another RM300 for subscription of RCULS and another RM200 for right issues of shares. In the end (after both subscription) you will end up with 300 RCULS, 250 warrants and 1,650 ordinary share.

Upon the listing of the new shares, the price will adjust. Calculation:

Price per share post adjustment = RM910/ 1,650 shares = RM 0.55 (after rounding).

Let say after 5 years the price remain at RM0.55 and you have yet to sell or buy any new share (you still have the 1,650 shares) and the numbers of total share outstanding is the same and all RCULS holders decides to convert their RCULS to normal shares. Each RCULS is entitle to 2 new shares at 50sens per share (you don't actually need to fork out any money. Just that the original RM300 that you paid earlier is now being used to pay for the new shares). After conversion you will have an additional 600 new share.

Your total of shares = 1,650 + 600 =2,250 shares

Your cost of the shares = price of your 1,650 share pre listing of new shares + RM 300 (for the new 600 shares) = (55 sens x 1,650) + 300 = RM1210

Price of new shares post adjustment (after conversion of RCULS) = RM1,210/2,250 = RM0.535.

But the adjustment to RM0.535 will most likely only happen in 5 years time hence that is when you actually used the 600 new shares (from conversion of RCULS) and the cost or RM300 in your calculation. It is not to be used now ( when the initial first round of new shares will be listed).

Sorry for the long post. Hope you understand it. Feel free to correct me if there is any mistake in calculation.

Good luck.
14/12/2018 21:32
michaelwong Commonsense , your explanation is very helpful bcos of its complications , but your calculations assuming costs for 10 lots or 10000 shares at 0.71 should be ( 710 X 10 ) =7100.00 not 710.00 which means you have to fork out RM3000 instead of RM 300 , am I right ?
14/12/2018 22:34
shpg22 Forget about this stock...waste of time
14/12/2018 22:45
jolow right issue and take your money to waste.
they would not recover one. Slow death.
Just cut loss.
14/12/2018 22:47
commonsense Hi michaelwong,

1 lot in bursa is 100 shares. So 10 lots is 1,000 shares.

But if you were to use 10,000 shares, then you just need to multiply every thing in my calculation by 10. But in the end the adjusted price will still be the same.

Good luck.
15/12/2018 06:22
villa1668 Mflour brand is better than other brands...but it doesn’t mean i will invest in this company.
15/12/2018 17:18
anticonman Why need RI? Conman ctr is true.
15/12/2018 17:31
jolow This counter only worth 30 cents.
15/12/2018 22:30
jolow Bad company... poor management
Outdated industry
No future
17/12/2018 21:17
trulyinvest Wa many soehead got caught
17/12/2018 21:43
shpg22 Downgrade MFLOUR to 0.35
18/12/2018 12:08
michaelwong If continued to drop b4 reaching the ex-date of 25/12/18 , who would willing to subscribe for those rubbish stuffs ? This lousy company is going to hang up by the time if the management not willing to push up the share price and it was so untimely that the date fixed up for subscription that the world market tumbling down . The subscription will eventually turned out to be used as toilet paper in the end if nothing is done within this few days l supposed.
18/12/2018 15:48
michaelwong By 2morrow if the management wanted the subscription to be done and the sum to be utilised for saving the company financial distressed , by hook or by crook's they must find ways to pump up the price or to be remain as toilet waste papers . Just look how N2N last minute perform the magic show!
18/12/2018 17:04
ramada From RM1.00 to RM0.60, just in two weeks. I must say, wrong timing for the subscription of rights issue.
18/12/2018 17:07
TakeProfits Lousy,stock d. Don't waste time this one. Management is not the best. Manage can fork out money from their pockets for rights issue. Kikiki...
18/12/2018 18:45
commonsense Wow. From my first post explaining the corporate exercise calculation (13 dec) the share has drop by almost 30%. I had used 85 sens in my first example.

I think investors need to understand that a right issue (for RCULS or ordinary shares) does not always mean its a bad thing. To say its bad or good you need to understand where the money of the capital raising will be used later. If the projects is expected to provide good returns which will increase the profit for the company, it might actually be a good thing for the subscribers.

I am not an investor of the company. I am just worried that some investors might just be disposing their shares without understanding the overall situation of the right issue. Better take some time to read the circular.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5938429

Please take note that the ratio for the right issue of ordinary shares has change. And all the calculation in the circular are just examples. U need to redo it on your own later. Refer to my calculation explanation on the 13th dec.

Good luck.
19/12/2018 10:43
Jaya Sell this shit please
19/12/2018 10:58
dompeilee Even big holders don't wanna pay $ to subscribe for rights issues! From 50+ c premium to 8 c premium with just TWO sessions to go !
19/12/2018 19:18
michaelwong This company inorder to raise funds to support the company shortfalls can't even fork out some financial assistance to bring the market upwards . Waiting for those subscription to end up like toilet paper .
19/12/2018 19:50
antidebt They use to slaughter chicken.
Now they slaughter all the minority shareholder
19/12/2018 20:49


 

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