hello guys, don't panic. Once Yayasan Sabah controls 30percent, things will be bright. Very bright. Furthermore, the FMU is planting of trees and harvesting the wood for export which is a very promising business. The NTA is 0.07 sen, twice the price. From studying the annual report, the company has many parcels of land. The recent sale of over 100 million shares, I think, is forced selling by the investment banks to meet margin calls.

hello again,

the likely scenario to come out is this:

The shares are selling in the market at around 32 sen. The offer was 38 sen. Why dont "they"
buy up all the shares at 32 sen or around this figure since it is way below 38 sen.

No, they have not enough money.

I think, they will abandon the privatisation. They will slowly feed the shares back into the market to make it more than 25 pc.spread. I have not studied the "offer" . Will someone study the "offer" and let us know whether the offer was "irrevocably offered jointly by the Investment bank jointly with the offeror" or was it just an "offer" but not "irrevocably".

If it was not "irrevocable" it is a lesson for BURSA to learn. Bursa should not allow offers that are not "irrevocable".

All "offers" must be irrevocable, when announcing Privatisation


What do you guys think?

hello all

what is the likely scenario on this damn Hovid thing, now that Bursa has extended the public spread requirement to 10Oct2018.

How many times is Bursa going to keep extending.? People will have no confidence in the "share market", the way Bursa is acting.

Bad news: Cheating the public, keep on extending. We should sue, the merchant bank. Bursa should not give any more extensions. Just like children playing.
see below



The Board of Directors of Hovid wishes to announce that Bursa Securities had vide its letter dated 5 July 2018 granted the Company a further extension of time of three (3) months until 10 October 2018 to comply with the public shareholding spread requirements pursuant to Paragraph 8.02(1) of the Listing Requirements of Bursa Securities.



Based on the Record of Depositors of the Company as at 25 June 2018, the percentage of public shareholding spread of the Company is 20.96%, which is below the minimum public shareholding spread requirements.



As at to date, the Company has not received any proposal from the Joint Offerors and the Company has not formulated any rectification plan to address the shortfall in the required public shareholding spread. The Company will continue to make further announcement in relation to the status of its efforts to comply with the Public Spread Requirement in compliance with the Listing Requirements.

hello taitaumau

Thanks for your input. Hovid's privatisation offer had already already become unconditional, after many extensions. That means, they must privatise it. I have not studied the "joint offererors documents" issued by the merchant bank, on their behalf. I dont know which investment bank issued the offerors' document.

In the case of many privatisation plans, the "offer" documents issued by the merchant bank consist of the words "jointly offered on behalf of Mr....XYZ". That means, the investment bank has given its assurance/undertaking to the offer.

In the case of Hovid, you, please study the offer document and see whether the investment bank that issued the "offer" has given its undertaking "jointly with the Offerors, Astoria/Ho. The word "jointly with the Offerors is important". If the investment bank had given its assurance/undertaking, there is no two ways about it. It must privatise, otherwise, the investment bank would lose its licence.

Hello taitaumau,

You are correct to assume that why warrants (317M) held by Astorai/Ho [called "their/they"] are not exercised is becasue they intend to privatise it.(Hovid). To excercise the wb into shares, they need to fork out 57M (317Mx0.18) . This 57M goes into the company. They are reserving this 57M to buy up the remaining shares still floating around, now selling at 33 sen.
Come middle of July 2018 when the 25% shareholding spread expires, they must either: (1) privatise it, or (2) release "their" holdings to the market to hit over 25% public spread.

It seems, now is the time to buy Hovid, becasue, when they have accumulated 90%, and force buy from the 10%, they still must pay 38sen. What do you think?

In the unlikely event they don't privateise it, they would lose a bundle becasue they have bought 38 sen from those who took up their offer.

Taking GSB as an example, Kerjaya directors offered to buy out GSB at 13 sen, and now GSB is over 20 sen. People holding Hovid shares, should not sell at all until mid July, when the 25% public spread expires.