As at 31/12/2021 there's RM241 million in unquoted unit trusts and MphbCap's portion of Nomura i-income Fund of RM455 million.

The RM742,878,000 in equity in Nomura i-income Fund forms part of the RM2,906,942,000 Assets For Sale.

@Opportunate, refer to the Annual Report for 31/12/2021 : in Note 15 Investment Securities, there's RM241,373,000 in unquoted unit trusts ; in Note 37(b) there's RM742,878,000 in equity in Nomura i-income Fund minus RM286,986,000 non-controlling interest leaving RM455,892,000 belonging to MphbCap.

Tu YouTube.

@Johnzhang, you need to engage the Board as regards the RM700 million.

The proposed quantum (of only 45 sen) set aside for distribution to shareholders is a big disappointment. Market is reacting to the disappointment.

@speakup, how long stuck in MphbCap?

Surin screwing the retailers here.

Haha speakup, go buy Sapnrg.

Haha speakup, mocking the retailers here?

CNY 2023 so long time.

Of the RM700 million mentioned by Johnzhang, RM460 million is currently invested in Nomura i-income Fund and RM240 million in unquoted unit trusts.

@Opportunate, I agree that for the purpose of the forthcoming EGM they only need to address on the proposed utilization of the RM508 million disposal proceeds. Still the amount held in the Nomura i-income Fund at around RM460 million is substantial and the question remains whether they will distribute all or some as dividends as they don't need it anymore if EGM approves the disposal of the insurance unit.

I don't have any shares in SCGM, never bought any before but in view of the low market price, I am considering to buy into SCGM. Can anyone give possible reasons why market price fell and remained low after the proposed disposal and generous distribution of disposal proceeds to shareholders?

The Nomura i-income Fund was valued at RM380 million as at 31/12/2020 and close to RM460 million as at 31/12/2021. How did the value go up by RM80 million within a year. Did MphbCap buy more units of the Fund?

Lol at Youwin.

@loribalak, may I know how long you have held shares in Affin?

If tomorrow price hits RM2.12 I might sell off all.

I believe there's close to RM460 million invested in Nomura i-income Fund which will be liquidated soon since it has been classified as discontinued operation. There's no EGM required for the liquidation, so how does the Board of Directors plan to do with the additional RM460 million?

Hahaha, haven't you people realize that JohnDough is TTB?

Privatisation of MAA failed and market price crashed to 60 sen level currently.

MAA was cash rich with NTA above RM2 after disposal of their insurance unit; privatisation offer was merely RM1.10.

Do you think Surin has 75% votes in his pocket to approve the disposal?

controlling shareholder*

@Johnzhang, I don't think that soon. MAA took several years before the controlling proposed a ridiculously low offer price and prior to that MAA's market price drifted down to 50 sen level.

@Just88, MphbCap Board of Directors already said post disposal of insurance business there will be operating losses.

@Goh123, there's no certainty of a privatisation. Even if there is one eventually it could be years before such a proposal be floated.

SCGM closed at RM2.29. If price remains, after the special dividend and capital repayment of RM2.21, price will adjust only 8 sen.

@Youwin, what are you talking about?

Myself expected a minimum of 65 sen, so 45 sen is a disappointment to me.

The proposed disposal of the insurance unit has already been announced 11 months ago, only the disposal consideration was not known then but if one does his homework, he would have been able to guess that the consideration would be around RM500 million, so it wasn't really a surprise (only dumb dumb The Edge predicted RM330 million). What retailers want to know 8s how much will be distributed as special dividend/capital repayment. Since there will be around RM1 billion cash available, most people expect generous payout.

If Surin doesn't have the required 75% in his pocket, then he needs to buy up and share price will go north. If he already has 75% (via proxies and friendly parties) then price wouldn't move much and might even drop.

SCGM has been praised for being fair to minorities by proposing to pay out RM2.21 but yet the share price dropped and last closing price was merely RM2.29.

@Goh123, it's very hard to predict. In SCGM's case, retailers were predicting limit up but it was a shock when it went red. MphbCap has one similarity with SCGM, both needs 75% shareholders approval for their disposals. If not approved there will be no special dividend and capital repayment.

Posted by speakup > 1 day ago | Report Abuse

Favco declared 85sen dividend when Favco was 2.40, now Favco 3.22+
so Mphbcap after declare 45sen dividend should be 1.57+0.45=2.02
When SCGM announced special dividend and capital repayment totalling RM2.21, share price dropped 9 sen to RM2.29.

If the proposed disposal is not approved, Surin can't touch the cash hoard forever.

AGM date already announced to be held on 30.6.2022.

QR just out.

SCR is a make-or-break privatisation and automatic delisting. If approved, all the shares of the disinterested minorites will be cancelled.

Privatisation means taking the company private. It cannot remain listed after been privatised.

Price will hold at current level until announcement of special dividend is released.

Of the top 30 shareholders, who among them are aligned with Surin?

@Johnzhang, I think KayaToast meant top 30 major shareholders owning 75%.

@KayaToast, there are plans on the utilization of the disposal proceeds, it is just not yet announced. Chapter 10 of Listing Rules requires announcement to be made to Bursa and in circular issued to shareholders prior to convening EGM. Board of Directors are deliberating on the plans which will include a special dividend of at least 65 sen (but probably higher but how much higher?)

12.5 sen dividend confirmed coming.

For Affin please go to Affin forum.

Hahaha, people here wants to consume shark fin soup.

Board of Directors have to deliberate proposed usage of disposal proceeds first and announce it, then only call for EGM.

If LTAT were to ever decide to exit Affin, Sumitomo Mitsui Banking Corporation can easily buy over.

Sumitomo Mitsui Banking Corporation is the 2nd largest banking group in Japan and the 80th largest company in the World.