Will there be M&A exercise lead by the controlling shareholders PNB to unlock value for stakeholders? Something worth watching out for !

I place high hope on this gem to be polished soon like MPHB capital.

Congratulations to those who managed to pick up some at low price yesterday. Hold tight to what you owned. I think more excitement is coming in 3 stages over next 3 - 6 months. Don't be frightened by the mild profit taking by the weak holders which is normal to happen along the way . Don't be taken advantage by ''insider' who are waiting to collect your share. For those who can hold until this ''fruit' is ripen will enjoy the sweet reward.

@stockraider,. Unfortunately for the Yap I know, it is highly unlikely for him to be generous. He only hope to ' makan' minorities's share at 40 sen.

@TheContrarian, may be a wise move that I should think about too. At least you make some from the dividend. But for me, I have to taken a 15% loss of I do the same.

For SCR, the offeror is making use of the company's internal resources to fund it. For MGO or GO, the offeror must have his personal or third party resources to fund it. He need about $220 mil to fund the GO if at $1.50. I think SRC is more likely and he is in no hurry to do it . He will only do it when the company retains higher profit to cover the higher price minorities demanded , provided minorities don't shift the goalpost . Dividend for next few years may be in jeopardy,. Just another possibility for investors to think about too.

@JJChan,, I fully concur your view that the RHB stake is a pain in OLH’s ass . On one hand, there is so much uncertainty to what will happened to the 10.13% stake in RHB post OLH's era. Will BNM pressure him to pare down? Will BNM allow him to pass the same stake down to his children ? All these are at mercy of BNM's control and policy!
On the other hand,. It is no easy to get buyers for this big stakes with BNM has to approve the buyer and also who get to sit on the board . It is unlikely to get good valuation for such block of share in very restrictive environment.

Additionally, TY’s stake remain 105,777,084 unit since 2019 despite there were plenty of opportunities to soak up at much below takeover offer price of $1.10. However, there were sharebuyback (SBB) after the failed takeover until mid Aug 20. A total 9.5 mil treasury share from SBB were cancelled in Dec 20. The last SBB was in Aug 20. Why SBB stop despite its share price from mid Aug 20 to end Feb 21 ( 6 months period) was trading between 58 to 75 sen only ? Logically if TY soaks up more cheap share from open market, he can afford to eventually offer higher price for the remaining Minorities to ensure success. All these seem to point to TY’s lack of interest to undertake another SCR soon ..
Just my view for sharing. Glad to hear yours too.

@TheContrarian, thanks for the information. Based on what you said, the next SCR may take years until the bitter feeling of the acquirer fade away and until the minorities patience’s wear off. It’s like a tug-of-war.

I am just trying to gauge whether the gap between what minorities want and what the offeror willing to give remain too big for another SRC to happen. Without SRC opportunity, this stock can be quite full for a long period.

@TheContrarian, you are brilliant! Did the unhappy minorities indicated what price they wanted ? Do you think another SRC attempt will made within say 1-3 years?

I am totally new to this counter and have yet to own any share .
Can anyone share what was the privatisation price the unhappy minority shareholders were expecting to receive then ? Did the price reached the offeror well before EGM for his consideration ?

Paying 1 sen dividend despite company hoarding so much cash is like insulting the other shareholders who have suffered so much for him over the years. The Yap fellow is indeed heartless!

Holding so much cash . Only pay 1 sen dividend for last and this year. Yet another classic example of how controlling shareholder take minority shareholders for granted.

@Muthuarum, may be have to jump off from the helicopter and suffer some injuries. The OSK helicopter will not crash . It is just taking the minority passengers like me for a very long ride in the air . Hahaha..

@Endgame, In reality, nobody can be sure how the price of even the best or the most undervalued stock will move in the short term. But for longer term performance, we can be more sure. Therefore, it is better to take a slightly longer term view for a good stocks.

I want to completely ditch all my remaining OSK share at $1.05 !
And i am still waiting for that opportunity to come after 5 long years!

No dividend paid for FY 2020! This is to frustrate minorities?

Yes , if nobody buy the stock. But nobody can tell when and what will happen next. As such, before you buy the stock you must first of all believe in the prospect of the company's toll road venture and the 40% investment in the 1,800 acres Rimbayu development with IJM lands .

This stock is for those who genuinely believe in value investing and hence not concern of day-to-day and week-to-week's price volatility.
Just my opinion for sharing. No offense please.

Just to repeat what I have said on 15/6/21 . Punters aiming for good overnight profit will most likely get disappointed and may even lose money here . This is because nobody will continue buying up( and hence pushing price higher-ups) for you to make easy money every other day or other week. It is better that you sell and keep your hard earned money in FD.

Genuine investors believe that good fundemantal will prevail in the end of the day . If you hold this belief you should not be concern of day-to-day and week-to-week's price Volatility at all. If you wish to make handsome overnight gain , this is probably not the counter for you .

@Valgrovest, Serious privitasation exercise will come without prior notice which you can see in MMC, Ijmplant etc .... The last aborted privatisation move , which was strangely announced to the public months ahead , seem like for testing water. I personally know of a few top 30 shareholders were not willing to give in at $0.80 to $1,00 proposed. Those shareholders and perhaps many others are looking at $1.20-$1.30. Without the support from most of the top 30 shareholders, the privatisation can not proceed with success.

@knn_no_BS, May I suggest you spend some time to read the past years accounts of the company to find out what was the disposal value for the 49% of MPI to Generali about 6 years ago vis-a-vis the cost of investment in MPI (MPI is the insurance unit of MPHB capital). There is also some basis of valuation for the block of remaining 51% stake sales to Generali.
Item (3) in my yesterday posting is about the estimated GAIN from the ongoing disposal of the remaining 51% . As the deal has not been completed, the gain can not be booked in the account yet. Is there still double counting?

@Asia,. There is a price for everything. People will buy if the price is right irrespective of the condition of the asset. To restore a below par plantation is not a rocket science and can be done within 1-2 years. If you are shareholders of Swkplant and follow.their recent 3-4 years development you will understand it. Once TaAnn took over the Management a few years ago , Swkplant show increasing yield right from 2nd year for the last few years consecutively.

Many are not happy about the production, management quality and rate of return of Bplant. I also think all the parameters are below par comparing to the well run plantation companies eg ijmplant .
We must also be realistic that if Bplant is on par with ijmplant, it’s share price would be $3.10 , not $0.58 today . So, why should some people be so bitter about the performance of Bplant vis - a vis it's share price ?
Base on the NA per share of Bplant of about $1.20 ( and RNAV easily exceed $2.50), today's price of $0.58 is ridiculously low!.
I think the new group CEO and the plantantion team are not that hopeless.
It is just a matter of time the value of this share will emerge. I think we don't have to wait too long .

@ipohwhitecoffe , it has reached $1.45 now . I am glad that you discovered this gem. Hold it a bit longer to reap maximum harvest.
Remember that market goes up and down over a period. Only genuine longer term investors will ride it out and get good return in the end of the day .

@Endgame, it doesn't matter whether it is an old fact or new fact so long it is a fact! Hope you see this point positivly .
Having presented the fact of this hidden gem, I must also alert shorterm traders and punters that this counter is not suitable for you whose objective is to make overnight profit . This is because , while someone is scooping up the grossly undervalued bshare from the market (thus pushing price higher). , the same someone or other acquirer will also let the market take a breather or even deliberately sell down small qty intermittently to entice more weak holders to give in. In the end, investors with Patience will reap the reward. You know what I mean if you are a season stock investor.

The trading price nowbis still about 10% discount to the SCR offer price is because the BOD has yet to respond and has until 15 July to make decision. Once the Board responded positively , which I think will be the case, the price gap will narrow to a few sen. Next hurdle SM going to face will be the minorities reaction .
It still to early to tell the acceptance level for $2 by the minorities and those who are scooping up $1.80-1.82 in the past many days. We still don't know who are those people buying in hundreds of millions share from open market now . Let's watch how it unfold eventually.

@opportunate, I concur with your views on the hostile takeover. Any investor or a group of investors acting in concert who can gain control for even 20-30% stakes stand to benefit handsomely from the huge resources in the company.
Your view on potential valuation of the company of $6-7 per share is also in line with my estimate.

My estimates are as follows:
(1) existing NA attributes to owners of the company as at 31/3/21 is $2.60 per share.
(2). Potential monetisation value of all the lands and properties in Penang, selangor, KL and Pengarang is $3.7 bil vs $800 mil captured in the book . The difference in value translation additional $4/- per share.
(3). The ongoing disposal of 51% insurance unit should take in $350 mil ( and the investment cost was very low). This will bring in about $0.50 per share

To add up (1) + (2) + (3) =$7.10 per share .

For the land/ property potential valuation, I adopt pricing transacted in the vacinity in recent years .

@opportunate, thank you for your support. Every minorities vote counts during EGM in the event that the privatisation or any other corporate move is deem UNFAIR to minorities. Minorities have to stand together to get a fair treatment from Mgt and BOD which often under control of major shareholder. We must remember that how big or small an investor in the company has equal rights .
We should also be closely watching the financial accounts , any major transaction or corporate excercise that is not to the interest of the minorities. If the Mgt and the BOD acted unfairly against minorities and fail in their fiduciary duty , we have the legal and administrative resources , to bring the perpetrator to trial .

@dompeilee, you are right , it reached $2.70 in 2014. If you compare the balance sheet of 2014 and balance sheet of 2020, you will see the vast difference. The company has huge cash pile and liquid investment securities now . The impending sales of 51% insurance will boost the cash pile by further $350 mil ! Moreover all the land can fetch much higher price now compare to 2014.
I just wonder if there are some existing substantial shareholders work together with deep pocket investors ( other than present the No 1 biggest shareholder ) interested to try a hostile takeover of MPHB ?

@ipohwhitecoffee,. Do you know them ? If you do , pls introduce them to me so that we can strengthen our bargaining position in the event of unfair privatisation.

@ Endgame , TP 10? You can dream about it . Hahaha

@HuatAh8809, myself and my group of friends won't give in if the controlling shareholder's try to privatized below $3.00. We won't let controlling shareholder to take minorities for a ride anymore.

@dompeilee,. For those who sold at $1.60 or below it is not the end of the game yet. I think price of $1.75 now is still very very cheap . You will know what I mean if you look at its BS and the list of properties/assets in the latest annual report.

Hold it ! It worth a lot more than $1.71 now trading.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today's StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

In today StarBiz,. the headline article on plantations M&A is very interesting. In there , there is valuation of plantation brownfield estate by the industry expert Mr Chandran . Mr Chandran has the credentials to speak about this subject.
On the other hand,. those IB analysts who only work from computer desktop in a cosy office tell you half baked story.

@Asia88, the few pcs of leasehold vacant lands own by Talam here and there don't worth very much . There generate zero revenue.

@Asia88,. Many plantation group has $billion idle fund in the bank and interested to buy brownfield estate as the government already frozen new land opening. Many of them earn hundreds of millions , some in $billiin of free cash from this year and next year. They need to invest this huge reserve . Idling Cash earn nothing in the bank .

Like I have said a few times in this forum, MNRB is Takaful Bhd in the making ! Takaful has been trading $4.50 to $5.00 per share at PE over 10 tines .

@ AlfI3, if the offer from KLK to IJM is UNFAIR I am sure shareholders of IJM will definitely block the deal.
Also, KLK is buying 56% stake in IJMPLANT from one single shareholder called IJM . Corp It is a 56% onwership change hand, not a privatisation exercise yet.
The privatisation of IJMPLANT will come later . We will see if minorities shareholders of ijmplant will be happy with the offer at $3.10 + 10 sen dividend. The offer work out to be 2 times book value which is in fact quite fair.
In the case of MPHB, if the controlling shareholders also offer 2x book value or even 1.5 times book value nobody will block the deal.
If you understand the privatisation rules , you will know that minorities has the say in the end of the day .
Don't you know a few unfair privatisation fail recently??
FGV, CCB , MAA , Canone. etc because minority block the unfair deal .
As minorities, very important to know your rights . Don't be taken for a ride so easily.
Hope that enlighten you .

@zestyy90, you mean SM 'main main saja' ? Why you think he is ?

I love to see hostile takeovers . The more hostile the better. Hahaha