Privatization or sales , whichever way it go is also very good for value creation.

@Goh123 Vol and price higher means people are buying. Agreed

@stockriaider, agreed , no need to Kencheong especially there is no detail for us to look at.
I am more eager to know the basis of share swap option.
If the share swap ratio is somewhat mirroring the NA value of each company, the ratio will be around 6.5 ijmplant to 1 KLK. (NA of ijmpltn is $1.63 vs NA of klk $10.59. ). If that comes true , the offer is not bad at all.
KLk latest price was $21.70 and the equivalent ijmpltn price is therefore ($21.70/6.5) =$3.34 .
Just for interim discussion only .

I think the next likely plantation candidate for privatization is HSplant. It’s in nett cash position, have a strong parent company, 20% free float only . NA of HSplant is $2.13 and share price is $1.92. .NA of IJMPlant is $1.63 and interim takeover price is $2.70.

@calvintaneng, if share swap ratio on the basis of KLK share price at $21 vs Ijmpltn at $2.70 , The share swap deal doesn’t look so bad . Because klk at $21/- is also 30% below its fair value . This is another angle to look at it .

I don’t think IJM can just sell a significant business without going back to it’s shareholders for endorsement. IJM’s shareholders are make up of a lot of institutional investors and funds . There is no controlling shareholders in IJM.
Anyway, the official term of offer is not out yet . Too early to speculate what next happen

Isn’t IJm also require it’s shareholders to vote for it ?
I wonder if IJM’s shareholders and other institutional investors are going to support this sales at this low price?

Will IJM , EPF and other institutional investors accept such low offer?

Including IJM which is the largest shareholder in WCE highway

More highway concessionaires said to be looking to form highway trusts

Waiting for the official news . It also depends on the share swap ratio .

Damn it! Not good offer at all!

Hope what I posted in this forum on 4th June comes true!

Hahaha…. We strike another goldmine after MMC

Just be patient to wait for the EGM

The issuers of the call warrants certainly don’t like the price to surge for the time being. What you think they will do ?

The very good news is this company resumes paying dividend for 3 qtrs consecutively when it made money . The dividend amount were small because the profit for the last 3 qtrs were small too. Once profit improve going forward from higher production and higher ASP , higher dividend will follow too. The windfall dividend will also come when the company monetize some of the highly valuable landbank.

Many in this forum think the takeover offer price of $2 is unfair compared to the real value of its assets. We must also remember that many of us were hesitant to hold, buy or add more to our portfolio when MMC was trading at ridiculously low $0.70 to $1.20 in the past 2 years despite knowing that it is seriously undervalued.
A lesson to learn from here ?
There are still many seriously undervalued stock like MMC out there .

@Petronas, I certainly think so. Don’t cry over spilled milk like many do at MMC forum. Few people interest to buy or add more to portfolio when MMC was trading at ridiculously low $0.80 to $1.20 for last 2 years ! Now , many think the takeover offer price of $2 is unfair .

The next privatisation attempt will come like a thief without notice . Not like the last attempt where LTAT announced its intention well ahead without any official offer . I guess just to test water . They now know many corporate investors and minorities would accept any price below $1.20.

Syed mokhtar won't let any of his privitasation plans to fail . He has done so many successfully which include Tradewinds, Tradewinds plantation, Bernas, North Portl, Johor Port, etc.. If he has to pay slightly more to make sure the exercise go thru he will do so. Afterall, there is so much more he can gain after the successful privatisation.

@Moratorium, what brings you here ? Pls share.
I was lucky to sell all at $2.25 before the price collapsed. Still hesitating if I should re enter now. The company has a bit of governance issue and don't know if there is anything that will explode from the newly appointed auditor's finding.

Shouldn't admin. do something to this parksonguy who so often post non sense in a lot of forums? He is a real shit!

Another limit up when market reopen next week will bring its price to $2.20. Is that possible?

In the past months, i may be overly enthusiastic in sharing my view on my favorite 3 M stocks - MMC, MNRB and MPHB . All of them are extremely undervalued by the market and now is the perfect market condition for controlling shareholders to privatize them . MMC has come to fruition finally. MNRB and MPHB will follow suits. Do your own fundamental study on them before investing.

In the past months, i may be overly enthusiastic in sharing my view on my favorite 3 M stocks - MMC, MNRB and MPHB . All of them are extremely undervalued by the market and now is the perfect market condition for controlling shareholders to privatize them . MMC has come to fruition finally. MNRB and MPHB will follow suits. Do your own fundamental study on them before investing.

Today’s price is still far far below its fair value !!

IJM Corp will take advantage of present strong CPO market to sell ijmpltn. I am not surprised if talk already undergoing . Once the deal is done, the.acquirer will have to extend GO to all other shareholders at the same price. I think the price tag may be $3.50 to $4.00.

I thought the Lim had long ago sold his stake . His name is not in the 30 largest shareholder list . Could Surin a proxy to him ?

@ziling3863, investors are losing confidence in OLH. They don’t think he will treat minorities fairly .

The next attempt to privatize Bstead may come as a big surprise.

Surin can take it private thru SCR and pay $2.50 per share . There will be enough cash in the company to buy out the minorities without having to fork out a single cent . Surin and his gang can own the multi billion worth of valuable assets in Penang, KL and Pengarang .

At PE 15x the stock worth $3.60 which is 1.1x book value. Bear in mind , Takaful insurance is fast growing and MNRB is riding the growth . Price will surge when dividend yield improve further.

Those who sold in recent uptrend are just too unlucky.

Confirmed! Takeover offer at $2/-

MNRB is trading at PE 5x . Book value is $3.27 per share.

@chkhooju, it’s a lot of gain for PNB to first privatize it and subsequently divest whatever % to a foreign investor . To privatize the company when Malaysian stock market is dead like now is real cheap. Privatization may succeed at 0.8x book value . The subsequent divestment to a strategic foreign investor can fetch 2 to 3x book value. MPHB capital divest its small insurance unit to Generali at over 3x book value . Make sense ?

Minorities are always received the short end of the stick. Bursa and SC has no rule to protect minorities.

Independent advisers are not so independent afterall. They know who buttered their bread,

After MMC, this will be the next privatization by controlling shareholder.

After MMC, this may be the next target for privatization by controlling shareholder. It’s very very cheap to privatize while the Malaysian stock market is dead now.

Don’t be surprise the price to go above the privatisation offer at some point . If the offer is deem too low , minorities will not give in easily .

@Goh123, I am confident the special dividend will come . It’s just a matter of how much and up to investor to guess the amount.

@Goh123, if there is announcement of special dividend after insurance disposal I think t the price will be substantially higher already. Having said that , it is also nothing wrong to wait for the dividend announcement first before you make your move .

Will take a long time for property sector to recover. Meanwhile , shift tge capital into other stocks.

Yes, MCO is good for insurance companies as claim ratio will fall and profit will up.

@moratorium, I think life policy pay the benefit to beneficiary upon death of the insured irrespective of the cause .

Already so low , how low can it go .

Yes, buy the dip is the way to go

OLH will ultimately keep osk price at 84 sen. 84 is ‘Fatt Xi’. (In Cantonese) ’ which means super prosperity.
It’s super prosperity for him only , not for minorities.