A friend today asked me why would companys like Blue Dart etc de-list, i dint know the answer, searched for it and some googling gave the following possible reasons, any more possible reasons for the same are welcome High promoter holding say 70%, will lead the promoters to think, why comply with all the listing requirements quarterly publishing of results, communication, analyst questions etc for the remaining 30% of the shares only, better to keep it in our own hands If the company has now further plans of raising capital, then it might not make sense for them to remain listed, like most of the foreign MNC do for their Indian subsidiaries, when they feel that no more capital will be ever required by the business, they go for de-listing. A company feels that they are undervalued and after trying to communicate the strength of their projects to the market, the fail to elicit the valuations, it would be better for them to de-list and rather go in for a PE funding/Private transaction in case future capital is required because the deal value will not be biased by the CMP.
From The New Straits Times: KUALA LUMPUR: Plantation-based Pinehill Pacific Bhd (PinePac) will likely face censure from Bursa Malaysia if the company does not come up with a regularisation plan before September 3, 2021.
However, the company is sitting on a large cash pile after disposing plantation assets in Perak.
PinePac fell under the ambit of Paragraph 8.03A(2) of the main market listing requirements of Bursa Malaysia on September 3, 2019 following the completion of a disposal exercise of its 9,000-acre plantation assets in the district of Hilir Perak to United Plantations Bhd for RM413.57 million cash.
With barely a quarter left (until September 3) to submit a regularisation plan to the relevant authorities for approval, the only option for both the owners and investors of PinePac to weigh cash out before the regularisation plan deadline.
A check on the company's profile reveals that PinePac operates as an investment holding company which engages in the development and operation of palm oil plantation.
Its plantation segment, which contributes a huge chunk of its revenue, engages in the business of oil palm cultivation and processing of palm oil that offers crude palm oil (CPO), palm kernel and other oil palm products for sale.
To note, PinePac's regularisation plan to Bursa Malaysia must demonstrate that the company remaining in business is viable, sustainable and has growth prospects, and that its level of operations remains suitable for continued listing.
If cashing out is the company option, PinePac will move to be delisted from Bursa Malaysia, which some market observers said to be the easiest option.
Others feel keeping the company's listing status intact may not be bad idea either given the current high crude palm oil (CPO) price which is at RM4,436 per tonne as of May 22.
Although stock market analysts are generally wary if the current CPO prices are sustainable – with many market observers expecting the prices to soften in the second half (2H) 2021 – small-cap palm oil stocks like PinePac do reign supreme in their own ways.
In a plantation sector review dated May 19, PublicInvest Research has suggested that investors look into small-mid cap plantation companies which give more attractive upside compared to their big cap counterparts.
This is given that despite the sharp rally in CPO prices, there has been little share price reaction for major plantation counters in view of poor liquidity and increasing concerns over ESG (environment, social and governance) practices.
But given that acquiring a plantation outfit may not sound a viable option amid current sluggish economic conditions, PinePac can opt to venture into new yet potentially lucrative business areas that promise consistent income such as renewable energy or being an independent power producer (IPP), to name a few options.
As it is, the current scenario is such that the share price of PinePac is trading at a massive discount against its net tangible asset (NTA).
Analysts believe amid the current pandemic-ravaged economy, it is quite unlikely to see large cash pile companies that can easily undertake new viable projects.
arif AAX Malaysia has whole of China, India and Australia to cover which even MAS does not cover all routes. Lets not forget that Avalon International terminal was built and operated till todate for AAX passengers only.
The paragraph below is from a circular letter to ticket holders to show proof of Debt.. From what I have read, only 2 of the 18 or so creditors are refusing to compromise. One is Malaysia Airports which is claiming some ticket fee which Air Asia did not collect from passengers being a low cost airline.. I am confident that all will compromise as something is better then nothing if the airline is allowed to fly. Buy and hold.
We thank you for your understanding and continued support during these challenging times and will keep you updated on developments as they occur. Please note this is just a standard process required by courts and if successful, AAX will be flying again and welcoming you back on our flights with your existing tickets
Reference is made to the announcements dated 6 October 2020, 7 October 2020, 9 October 2020, 4 November 2020, 5 November 2020, 19 November 2020, 14 December 2020, 5 January 2021, 29 January 2021 and 22 February 2021 in relation to the Proposals and Proposed Debt Restructuring.
On behalf of the Board, Mercury Securities Sdn Bhd wishes to announce that the relevant applications in relation to the Proposals have been submitted to Bursa Securities on 5 March 2021.
I dont think we will see any part of the 2.4million . The Anai - major shareholder has 7 months to collect enough shares to take Pinepac private. With that 2.4 million he can buy 6000 lots at current price of 40 sen.
The major shareholder is accumlating for general offer and controlling the price from going up. Look at notices to shareholders in november , december 2019 and january 2020. He now has about 8 months to show the business plan.
What business can this company venture into without any experience other oilpalm? Also the company will have to set aside xxxx amount cash as security to have itself listed at KLSE as it does not have any assets in Malaysia. With 55% shares held by main owner(last annual report) it is obvious that he has been collecting to have 75% shares so that he can make a offer and take it private and concentrate on 20K hectares in Indonesia. He has 8 more months to mop up enough shares.
1 st November 2019 -The Company has approximately 10 months to submit a regularisation plan to the relevant authorities for approval and will make further announcements in relation to any latest development in accordance with the requirements under Paragraph 8.03A of the MMLR.
3rd Dec 2019 - The Company has approximately 9 months to submit a regularisation plan to the relevant authorities for approval and will make further announcements in relation to any latest development in accordance with the requirements under Paragraph 8.03A of the MMLR.
55 % of shares held by Aneh and the rest spread out within Singapore and Malaysia. Indon 8000ha production is 2-3 years stage and will peak in 4-5 years time. But turnover of shares is high with buyers out numbering sellers. Someone is collecting while others play contra.
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.
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