>>Cease of Coverage<<

CK>> As written in title above, I've decided to cease my analysis and posting coverage on this Kencana & SapuraCrest merger exercise due to the potential return is now below 1%. Nothing much we can earn from this deal anymore, unless you are a risk taker, whereby you can continue holding those Kencana or and SapuraCrest shares until de-list and re-list of NewCo share (so called "IPO", but via share swap exercise, not open to public for application).

Yes, I think it is HIGH RISK because no one can predict and know what would happen to NewCo on first day of listing (Newco share price was fixed at RM2.00). If there is any bad economic news from international markets, especially from  US or EURO markets, during the period of de-list and re-list (around 3 weeks time), there will be no way for you to sell it because your shares and funds are frozen while pending for re-list. Then I can only wish you good luck (please always refer to Sunway's case).






CK>> I had sold all my shares on Kencana and SapuraCrest. Will consider to buy it back if:
1) Kencana drops below RM 2.90.
2) SapuraCrest drops below Rm 4.45.
Personally, I don't think it is going to happen as the de-listing date is around the corner now, the share prices will be well maintain above those price levels.

Please see the table below for the tentative timetable of this merger deal:















CK>> So, at last, I would like to say "THANK YOU VERY MUCH" to both Kencana and SapuraCrest for given me such a big Ang Pao prior to Chinese New Year 2012. Feel kind of satisfied and relief now, at least my hard works and effort for nearly 6 months are not wasted.

Let's look for more investment opportunity. Cheers! Happy Happy!