They are still haggling on the offer price ! $1.00 or $1.20 ? Hahaha

The Contrarian, they typed in my desired price of $1.20 or higher? Hehehe.....

Winmal, SCR can be financed by loans. I think Bstead has the muscle to get Bank’s support.

LTAT announcing no go is not a material development to Bstead . This is because bstead has not received any offer or even official notification from LTAT on the matter. Bstead as a separate entity can not act purely on a private matter of a shareholder.

bnmacai, the acquirer, LTAT, has previously indicated their interest to privatize Bstead. If LTAT today decide not to pursue this interest anymore , that doesn’t warrant a full day trading suspension requested by Bstead. We will know today.

JadiMaster, I will be very happy to load up if it fall to 60-62 sen. In the end of the day, LTAT must ensure bstead do very well to save them from the shit . LTATs members are losing patience for the dismal 2% dividend for 2 years . The BOD of LTAT is in very bad light for violating the Act which set 30% limit of fund allow in risky equity exposure. . I wonder if there is anything in LTAT’s book to pay dividend to its members for FY2020.

Thanks TheContrarian , I am with you .

TheContrarian, I see you are in MNRB. I am keen to park some money here . What’s your thoughts on this seemingly highly undervalued stock? What’s the good strategy?

TheContrarian, could you share your views in the respective forum on MNRB and MPHBcap which seem to be extremely undervalued from fundamental perspectives. From technical analysis, seem nobody like to touch these death wood. Thanks

Stockraider, I guess it is a highly effective strategy to frustrate minority shareholders for half a year of suspend. In all other takeover offerrs, no one announced the intention 6 months ahead. Or give advance notice. Yet , you see LTAT further frustrate minorities with a’ NO material development ‘ just few working days before the dateline. Thru this strategy, they hope more minority shareholders will throw in when the offer come. The whole exercise is done so unprofessionally. We the minority must remember not to give in easily .

Also, relocating Amrin , ex MD of Boustead to be CEO LTAT speak volumes. Amrin shall know how to extract maximum value from the eventual privatized bstead for LTAT.

I am just happy to share my thoughts .

I think privatising Bstead follow by more aggressive assets monetisation may be the only quickest and most effective way to resolve a number off pressing problem face by LTAT.

Muttinvestor, you have asked a million dollar question. Hehehe...
I think privatisation for Bstead will go first as Bstead owns wide range of assets and hence a lot of flexibility and options for monetisation.. In this respect, Bstead may move faster than Bplant in the near term. I can be wrong . Assume your own risk .

Once Bstead is successfully privatised, LTAT will end up owning 70% of Bplant which is a prized asset. They will do the SCR way again to take full control of Bplant. Subsequently, they may monetise $billions worth of freehold estate land in West Malaysia located proximate to the townships or next to development locality to pare down borrowing. Or they may opt for divesting a significant portion of the stake to third party investors, yet retaining majority control. They are many political cronies waiting for the opportunity to take part.

Yes, let the GameStop effect manifest in Bplant and that will force LTAT to offer higher and fairer price for bstead . Afterall, Bplant is truly undervalued for the business and the very good landbank.

TheContrarian, are you joking ? Hahaha.....
Anyway , anything less than $1.20 is no go for me. Perhaps many corporate investors demand higher . GameStop Spirit will manifest if the offer is unfair.

To me Sop is one of the best managed mid size plantations with capable teams of senior management. By next qtr, Sop will be a net cash company and hope that the company will reward shareholders with higher dividend . The company generate huge amount of free cash every year.

In the light of strong CpO price for awhile, Felda has no choice but to raise the offer price to complete the privatisation . The sole objective for Felda is to take full control of all the plantations leased to FGV for 100 years. Therefore, Felda can not leave things neither here nor there after spending huge sum to raise its stake to 69%. Just my point of view.

Thestewsrd, there is no privatisation offer made by anybody to Bstead shareholders in the first place . As such, there is nothing to call off or cancel. The suspension is clearly stated for material development announcement which means corporate matter of importance to shareholders.

InvestigatorX, let's not put the cart before the horse . Wait for wed news first.

InvestigatorX, most shareholders' cost is probably about $2 andblower after considering the Bonus issue and many years of well above market rate dividend. Under present market condition I guess most minorities are willing to accept $1.20 -$1.50.
Just my personal view. I may be very wrong.

TheContrarian, I go a bit more heavy in bstead is perhaps my OVER confidence in making good return from the Privatization offer or even if the privatization fail. The reasons lies on pressing time for LTAT to (1) rectify the violation of LTAT Act 101 highlighted by auditor and (2) total depletion of reserve in LTAT to sustain even above 3% future dividend to their unhappy members.
LTAT Act 101 stipulated that LTAT to invest not more than 30% in equity investment whether it is not listed or listed . However , LTAT invested 71% of the fund in equity which is 41% above the limit. This violation is reported in LTAT ‘s financial reports and LTAT can not ignore it any longer.
As such, by Privatizing bstead and subsequently monetizing a lot of assets under bstead and return the money to LTAT for diversification to low risk fixed income investment will rectify the Act Violation . And at the same time maximizing return boasting LTAT’s reserve as the marketable value of bstead assets are much higher than book value.. As such, this lead me to believe that LTAT will certainly want toskebtge privatisation a success. I hope my reasoning make sense And I am.prepared to assume the risk if any .

TheContrarian, perhap so. But my cost is not low , from 64 to 76.. averaging 72 sen. I won’t give in if the offer price not higher than $1.20. Even if bstead finally fail in the exercise , they must make good for Bstead for the sake of LTAT’s members. Either way is ok for me.

When LTAT successfully privatized (which I think they will make sure they got it), LTAT +bstead end up owing Bplant 70%. What you think they will do next?

Investigatorsx, you made very intelligent guess.

InvestigatorX, I hold 2 mil shares accumulated in stages over last 3 months. I started from Bplant since June 2020 and noticed the opportunity in Bstead later. I love Bplant due to my involvement in oil palm plantations business for 30 years .

The reason bstead drop the legal action on lodin is very clear. Lodin can be a hurdle.

The disinterested shareholders own about 40% ie 800! mil shares. We only need 10% of the disinterested portion ie 80 mil to block it.
There is a group of related corporate investors (7 companies) in the top 30 list that hold about 84mil shares Lodin himself hold about 41 mil shares. Just the above unhappy investors are enough to bargain for fairer offer.

Bstead or LTAT can NOT afford to cut their noses to Spike their faces for any longer.

My guess is Bstead finally have to revise the offer price to $1.20 -1.30!!in order to get thru the privatisation. For LTAT, it is must to get it thru and $1.3 is still very cheap,

Bplant is unbelievably cheap for mid size plantations with huge freehold landbank in West Malaysia. Few estates next to a township in West Malaysia can be monetized for $1 billion.

Various banks including Affin are happy to finance it. Afterall Bstead hold a lot of good assets which are of higher value than the book.

I am confident it will be a SCR announcement. Now it is only a matter of price. Many corporate investors in the top 30 shareholders list including Lokdin are unlikely to be happy with even $1/-. On the other hand, LTAT must privatise bousteaf to extract max value and to eventually pare down LTAT's portfolios in listed and nonlisted company which their have violated and exceeded the limit provided by the organization charter by about 30%.
In this respect, minority can hold firm and demand a fairer price. Of late, many privatisation failed because minority block them.