A good move by the management to perform share buyback. Hopefully can continue to clear up the weak holder in the market and pave the way for strong rebound when market sentiment turn positive in the future.
I glance through the balance sheet of both FACBIND and Eksons. Both assets mainly in cash or quoted investment and smaller portion in land for development which reflected the value. To push the stock price to next level , management need to use the cash to venture into new business or pump up their property business to improve the performance. MPHBCAP beside the huge cash pile , the under value land will be an advantage. The stock price will much depends on how the management unlock the value. Among 3 , I will go for MPHBCAP with higher upside surprise
Market in negative sentiment. No catalysts at all. Stock price npt going down consider very lucky already. Just imagine if sold away MPHBCAP few months ago and switched to other stocks , what will be the delta now ?
30sen , 45 sen or 90 sen it doesn't matter to me. As long as I put my money in cash rich companies that continue to pay dividend , I will be able to accumulate along the way. Couple with the cash pile sitting in bank waiting to take advantage of any margin call incident , once the market rebound , will be hefty return.
The stock price need to adjust down by 40 sen during ex date to reflect the capital repayment of 40 sen. At RM1.03 , will be a bargain as the case per share by it self already RM1 and yet to factor in the huge value of the land.
Reference is made to the Company's announcements dated 18 May 2022, 20 May 2022, 27 July 2022, 29 July 2022, 19 August 2022 and 30 August 2022 (collectively "Earlier Announcements") and the circular to the shareholders of MPHB in relation to the Proposals dated 28 June 2022 (“Circular”).
Unless otherwise defined, all defined terms used in this announcement shall carry the same meanings as defined in the Earlier Announcements and Circular.
As advised by the Company’s solicitors and on behalf of the Board, AmInvestment Bank wishes to announce that the High Court had on 5 October 2022 granted the order confirming the Proposed Capital Reduction and Repayment. The sealed order will be extracted and an office copy of the order will be lodged with the Registrar of Companies for the Proposed Capital Reduction and Repayment to take effect pursuant to Section 116(6) of the Act.
The effective date of the Proposed Capital Reduction and Repayment will be announced in due course.
My view. Simple calculation. SU will receive about 13MM of dividend. If he can increase his hokding by 8MM to 9MM shares , will get to 270+MM shares. He will receive about RM110MM from capital repayment. If he can up his holding to above 350MM , with only 365MM in floatation , then above RM2 offer for privatation highly possible with MPHBCAP cash in hand. He will able to take the company private without any fund from his own pocket
Indeed. At RM1 , very attractive as cash in hand already RM1. Yet to factor in the value of the landbank. Any corporate announcement will drive the stock price up. My strategy for MPHBCAP is reinvestment to increase the holding. Once hit my target price or opportunity from other stocks , will sell all.
Market performance quite weak recently. Many stocks in negative territory. MPHBCAP holding firm in term of stock price at thin volume. For the past few months , I continue to increase my holding in MPHBCAP through dividend income and switching from 2 others stocks. One currently at - 40% and another one at - 5%. I'm looking forward for the capital repayment / dividend to reinvest taking opportunity of the weak market sentiment
Attended EGM few months back for voting. Management updated that if capital repayment rejected by high court , will pay as dividend. The money is coming. Expected timeline announcement mid Oct and payout in mid Nov 2022. I think announcement coming soon.
Interesting situation now. Bidders waiting at 1.48 for other to sell. Volume getting thinner. Cleaning up weak holder and getting ready to push up to next level ? Clean up the weak holder stage by stage ?
Before MCO , in 2019 , speculation that Flamingo Ampang received offer at 250MM for 13.9 acres of land + office tower + hotel. I goggle using Goggle Map. The hotel at very strategic location and very valuable for redevopment. Should not be a problem to find a buyer for outright sales or JV for redevelopment
What they will do with the remaining cash in hand of RM480MM
Distribute a portion as dividend ? M&A - acquisition or investing in property development company like BRDB which took private in 2013. Will BRDB going for IPO again ? I'm checking on BRDB as seem like MPHBCAP engaged with them in the past in JV projects to unlock the value of the land ? A portion as working capital ?