When I first started my accumulation of Reach several months ago at between 3.5 and 4.5 sen I did some estimation that the concessions were worth 30 sen per share but after the debt conversion and the resulting enlarged share capital I would adjust it to 25 sen.

In order for the Kazakhstan oil concessions to be sold, the HK guy need to take control of Reach because he personally only owns 40% of the concessions whereas Reach owns the remaining 60%, which is what he has finally done. As for the debt conversion price of 20 sen per Reach share the HK guy would have done his homework to calculate that after the disposal, the net cash value of enlarged share capital of Reach would at least come to 20 sen for him not to lose out.

Confirmed it's on front page of The Edge Weekly out tomorrow. Get a copy for RM7 tomorrow morning.

@KimSua, oil is there, the problem is they were not extracting it in great quantities.

This HK controlling shareholder is actually interested in the 60% Kazakhstan subsidiary owned by Reach where he already holds the remaining 40%. Now he controls 100% of the Kazakhstan subsidiary.

Reach actually triggered PN17 based on 31.12.22 QR which was released on 28.2.23 but didn't announce it until 3.4.23. On 29.3.23 debt conversion into 1 billion shares is already the first step to rectify the PN17 situation.

Not likely of an higher offer because LTAT has accumulated beyond 74%. If you wait for the buyout, Affin and Boustead Plantation share prices would rally and go up by then.

hey dumb8888, can consider selling Boustead and buying into Affin and/or Boustead Plantation.

LTAT needs $$$ to privatize Boustead, selling down Affin to raise cash.

Vroommmmmmmmm

2.5 sen final dividend.

hey dumb8888, you should have bought Reach Energy at 4.5 sen yesterday.

Reach going to make some of us rich.

Reach assets are the oil fields in Kazakhstan. The oil is there, just need to pump it out.

Go, go, go Reach.

Vroommmmmmmmm

It's not private placement, it's debt conversion.

New controlling shareholder, Reach now foreign owned.

Entered at 40 sen today.

Bought Insas at 75.5 sen today.

@newbie_2016, you are correct.

Bought more Affin at RM2.01.

speak up, you are confused.

@Johnzhang, right now it's a matter of opportunity cost. Sell now at 85.5 sen and redeploy proceeds to another counter which will eventually rise or hold out and hope LTAT will revise the offer price higher.

LTAT shareholding in Boustead has exceeded 72%.

@BobAxelrod, offer at 85.5 sen.

Affin P/E ratio only 3.67.

LTAT is not taking over Boustead, it is already in control of Boustead. LTAT is taking it PRIVATE and delisting it like OSK did on PJ Development Bhd.

I think they got burnt earlier and hasn't returned. Eventually when price spikes up on huge volume they will return.

LTAT announced that they have purchased over 211 million Boustead shares from the open market on Friday raising their shareholding to 70%.

Bplant has landbank ..... Affin has bank ....... sell Boustead and buy both.

Ambank buys Affin, windfall for Affin minorities. Go, go, go buy Affin.

Forum here is quiet which is a very good sign.

Sell Boustead and buy into Affin.

LTAT and/or friendly parties would have mopped up over 200 million shares so far representing 10% of the total shares.

I believe all the bad news is over. Let's wait for new controlling shareholder to come in this month.

@speakup, those who bought above 85.5 sen are merely throwing away their money.

3 pm foreign funds come in to sell, this is common sense due to different time zone.

LTAT does not intend to maintain the listing of Boustead. It is a privatisation attempt.

Added Affin at 2.06 today.

Privatisation at 85.5 sen.

Privatisation to be announced.

Hasn't really sailed off yet

@newbie_2016, latest QR last round of huge impairment write off and huge interest payable on shareholder's loans before new controlling shareholder comes in. Subsequent QRs shouldn't be burdened by these anymore.

No PN17, new shareholder coming in converting shareholder's loans into new shares at issue price of 20 sen which will increase the NTA to around 15 sen.

Last round of huge impairment and interest payable before new shareholder comes in later this month.

Mlab announced profits.

QR out, impressive results.

EPF might still be dumping.

@aklobi, KPS is Selangor state government investment holding company. Reasonably high dividend yield at current undervalued price.