Haha

Lol what stocks are on your radar now? Would u mind sharing?

Lcwin, the offer for 60 sen IS EXTENDED TO ALL MINORITIES OF MEGB. You need to read the announcement properly dude. Already one flaw i can pick out from your small time analysis. The assets being acquired by Mr S will lead to cash flowing to MEGB, if the proceeds are used to pair down debt, you save money on interest charges... Additionally, you may also receive diviidends from proceeds of disposal, which includes smrt if they become one of the shareholder.s of MEGB.. Feel free to correct me if i am wrong.

The offer is extended to the rest of the shareholders at same price (assuming due d by SMRT shows everything is ok). Technically, if you (minority shareholders) reject it, the company remains listed.

tomorrow makes it one day closer to results on friday. Anticipating good numbers

Whats the stuff u wrote in chinese Joel?

haha, ok la lcwin, was abit annoyed by your earlier posts. But no not annoyed anymore. Congrats on your exit, hoping i'd make at least double digit returns on this counter. all the best to your own investments

if you feel something like SMRT is overvalued, i suggest you visit this site and choose an appropriate investment, confirm won't be overvalued. https://www.imoney.my/fixed-deposit

Prestariang (Main Market) is trading at >17x P/E while SMRT is trading at around 14x P/E currently. Almost certain it should be trading about same range once its transferred to Main Market. Especially given SMRT's stronger earnings growth profile. I think my school fees in the past was well spent thank you.

Ok thank you for your kind advice. See you when the company hits 90 sen by year end.

U let price continue to drop. They win both ways. They get their desired asset and at the same time they can prob acquire more SMRT shares on the cheap, So when you guys finally realize its a good deal, they would sell back the shares you all sold to them initially at a much higher price

Hhahahahah

:(

stncws went on a few counters discussion and posted consecutive negative posts. Don't bother la

Just look to avg down whenever possible, As mentioned earlier, if it falls to <70 sen, believe SMRT would look to buyback again.

Looking at the Bursa announcement, Dr, Palaniappan acquired more SMRT shares in late Sept at above 80 sen, which to me suggest he values the company above that range. Recent buy backs at mid 60 sen also suggest there is indication they believe the company is cheap around that range too. Therefore I believe 80 sen is at least the base level which the company should be trading around.

Dr. Palaniappan's purchase http://www.bursamalaysia.com/market/listed-companies/company-announcements/1751437

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1752657

Share buybacks

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1764925

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1762029

godbless, i've always heard the term overbought or oversold, how would you determine that it has occured?

any idea why people are selling?

http://www.bloomberg.com/quote/SYTC:MK

According to Bloomberg its announcement is on 14 Nov, which is Friday. Hoping there would be a short rally before release of results!

Haha, i took a position on both sides. I actually feel the deal is beneficial for both SMRT and MEGB. Hopefully investors would eventually see that

godbless, they have proposed a sale and leaseback for the properties which will reduce their borrowings to zero. (Link to announcement: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1787881)

Ur talking rubbish.. Cant understand what you're talking about man

Volume so high, what are they doing. Suppressing the price or what?

Hopefully we'll see a research report for this transaction

Someone's playing with the stock la. Better hold on and don't sell on the cheap.

Total control over the company with mandate to carry out massive revamps if necessary. Synergies can be reaped. Best to hold on to your stake and let the share price appreciate

How does it work?

Used up all my bullets already.

KUALA LUMPUR (Nov 11): SMRT Holdings Bhd ( Financial Dashboard) and Masterskill Education Group Bhd (Financial Dashboard) fell after the two counters resumed trading this morning. Both stocks declined on SMRT's intention to purchase a 32.9% stake in Masterskill from the latter's director Siva Kumar M. Jeyapalan.

At 12.30am, SMRT fell 6.5 sen sen to 79.5 sen with over 5.5 million shares changed hands.

Masterskill fell 0.5 sen or to 61 sen with about 22 million shares traded.

Interestingly, SMRT had offered to purchase Siva’s 32% Masterskill stake at 60 sen a share.

Yesterday, Masterskill told the exchange that SMRT together with private equity fund Creador could make a take-over offer for the remaining Masterskill shares they did not own.

Creador already owns 16.26% in Masterskill. The acquisition of the 32.9% Masterskill stake will result in SMRT and Creador owning a combined stake of about 49.16% in Masterskill.

Trading in SMRT and Masterskill shares were suspended between 2.30pm and 5pm yesterday.

Today, a remisier said that the fall in share prices of SMRT and Masterskill “does not make sense” and was mostly driven by negative market sentiment towards the take-over attempt.

“SMRT’s acquisition price of 60 sen a share is very close to Masterskill’s net tangible asset per share value. So, it does not make sense that both counters have fallen so much

“I believe that the market has a negative view on the acquisition because Masterskill is a loss making company” he told TheEdge Markets.com.

The remisier said Masterskill and SMRT's share prices would “settle down” once investors understood the meaning and impact of the latest announcement.

“I expect the share price for Masterskill to hover around 60 sen and SMRT’s share price to be around 80 sen. Any upside for these counters would be driven by momentum or more positive sentiment,” he concluded.

KUALA LUMPUR (Nov 11): SMRT Holdings Bhd ( Financial Dashboard) and Masterskill Education Group Bhd (Financial Dashboard) fell after the two counters resumed trading this morning. Both stocks declined on SMRT's intention to purchase a 32.9% stake in Masterskill from the latter's director Siva Kumar M. Jeyapalan.

At 12.30am, SMRT fell 6.5 sen sen to 79.5 sen with over 5.5 million shares changed hands.

Masterskill fell 0.5 sen or to 61 sen with about 22 million shares traded.

Interestingly, SMRT had offered to purchase Siva’s 32% Masterskill stake at 60 sen a share.

Yesterday, Masterskill told the exchange that SMRT together with private equity fund Creador could make a take-over offer for the remaining Masterskill shares they did not own.

Creador already owns 16.26% in Masterskill. The acquisition of the 32.9% Masterskill stake will result in SMRT and Creador owning a combined stake of about 49.16% in Masterskill.

Trading in SMRT and Masterskill shares were suspended between 2.30pm and 5pm yesterday.

Today, a remisier said that the fall in share prices of SMRT and Masterskill “does not make sense” and was mostly driven by negative market sentiment towards the take-over attempt.

“SMRT’s acquisition price of 60 sen a share is very close to Masterskill’s net tangible asset per share value. So, it does not make sense that both counters have fallen so much

“I believe that the market has a negative view on the acquisition because Masterskill is a loss making company” he told TheEdge Markets.com.

The remisier said Masterskill and SMRT's share prices would “settle down” once investors understood the meaning and impact of the latest announcement.

“I expect the share price for Masterskill to hover around 60 sen and SMRT’s share price to be around 80 sen. Any upside for these counters would be driven by momentum or more positive sentiment,” he concluded.

After the proposed disposal of the assets to Siva, the company will have Zero gearing. SMRT is then able to leverage on their existing network n infra to add value to Masterskill. Any future improvements will directly accrue to the owners of the company (i.e. Masterskill shareholders)

Well, Creador has already come in regardless. SMRT is the party that is conducting due diligence for Siva's stake. I see no reason why it shouldn't be completed

Logical thinking would be Creador will not want to lose money and the offer price represents a bargain. Hence the sell down just doesn't make sense

According the Bloomberg, the results is expected to be out on 14th Nov. Hope its good

Actually, 60 sen is the base price for MEGB now. People like Creador and Brahmal are looking significant upside to their entry price. Logically, MEGB should definitely trade above!

fair point

Can't believe so many idiots actually sold at lower price...

Wanna sell fine, i'll whack tomorrow!

Will it fall to 60 tomorrow?

The Board of Directors of the Company ("Board") wishes to announce that it has today received a notice of request from Strategic Ambience Sdn Bhd (“SASB”), a wholly-owned subsidiary of SMRT Holdings Berhad (“SMRT”), a company listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), to conduct due diligence on the Company and its subsidiaries (“MEGB Group”) for a period not exceeding 30 days from the date of approval by the Board, with a further extension of 15 days upon request (“Due Diligence Request”).

The Due Diligence Request was pursuant to an undertaking from Mr. Siva Kumar a/l M Jeyapalan (“Mr. Siva”), a major shareholder and an Executive Director of the Company committing to accept any offer which SASB either by itself (or by companies related to it) in conjunction with another person (collectively “Offerors”) may make for the purchase of Mr. Siva’s entire shareholding in the Company consisting 123,656,700 ordinary shares of RM0.20 each in the Company (“MEGB Shares”) (“Available Shares”), representing approximately 32.9% of the issued and paid-up share capital of the Company at a cash offer price of RM0.60 for each MEGB Share (“Undertaking”). The Company understands that the Board of Directors of SMRT has acknowledged the Undertaking and has agreed to consider the Undertaking, subject to, among others, satisfactory due diligence on the MEGB Group.

The Company also understands that SMRT will partner Creador II LLC (“Creador”) (a private equity firm) for purposes of considering the Undertaking (SMRT via SASB and Creador via its wholly-owned subsidiary, Raphia Limited (“RL”), are to be collectively referred to as the “Potential Joint Offerors”), of which a joint press release statement has been announced on 10 November 2014. Please refer to the press release attached for further information.

Upon completion of the due diligence, if the Potential Joint Offerors decide to proceed with the acquisition of the Available Shares, the Potential Joint Offerors and Mr. Siva shall enter into a conditional sale and purchase agreement (“SPA”) for the proposed acquisition by the Potential Joint Offerors of the Available Shares subject to the approval of the shareholders of SMRT and any other approvals as may be required to be obtained by the Potential Joint Offerors. Upon completion of the SPA, the Available Shares shall be transferred to the Offerors, in such proportion to be determined by the Potential Joint Offerors.

In view that RL already holds 61,152,800 MEGB Shares, representing 16.26% of the issued and paid-up share capital of the Company as at the date of this Announcement, following the acquisition of the Available Shares by the Potential Joint Offerors, the Potential Joint Offerors will collectively hold 184,808,800 MEGB Shares, representing approximately 49.16% of the issued and paid-up share capital of the Company. Pursuant to Section 218(2) of the Capital Markets Services Act, 2007 and Section 9(1)(a), Part III of the Malaysian Code on Take-overs and Mergers, 2010, as the aggregate shareholding of the Potential Joint Offerors exceeds 33.0% of the total voting shares of the Company after the acquisition of the Available Shares, the Potential Joint Offerors will be obligated to undertake a mandatory take-over offer to acquire all the remaining MEGB Shares not already held by the Potential Joint Offerors (“Offer Shares”) at a price which is equal to that offered to Mr. Siva for the Available Shares.

Subject to the level of acceptances for any take-over offer, SMRT and Creador intend to maintain the listing status of MEGB on the Main Market of Bursa Malaysia Securities Berhad, thereby providing the minority shareholders with an option to either sell their shares through the take-over offer or continue to participate in the future growth of MEGB.

In view of the foregoing, the Board has convened an emergency Board meeting today to consider and deliberate on the Due Diligence Request. In view that the contemplated transactions may result in the Potential Joint Offerors to emerge as new controlling shareholders of the Company, the Board has decided to approve the Due Diligence Request for a period of 30 days from today with a further extension of 15 days upon written request.

In view of the interest of Mr. Siva in the contemplated transactions above, he has abstained and will abstain from all deliberations by the Board on this matter.


This Announcement is dated 10 November 2014.

KUALA LUMPUR (Nov 10): Controlling shareholder Siva Kumar M. Jeyapalan will be hiving off his entire 32% stake in ailing Masterskill Education Group Bhd ( Financial Dashboard) to a subsidiary of SMRT Holdings Bhd (SMRT).

“SMRT will have a hand in Masterskill’s future. I have offered to sell all my shares in Masterskill to a subsidiary of SMRT. I know that SMRT will be conducting a due-diligence to purchase my stake in Masterskill,” Siva Kumar said.

“After purchasing my stake, I believe it is in SMRT’s plans to make a general offer to buy out the remaining shareholders,” he added.

The sale of Siva Kumar’s stake in Masterskill should come as no surprise to the market as this is not the first time he has sought to dispose of his stake.

Some 30 million Masterskill shares were crossed in two off-market transactions last week.

When asked, Siva claimed he was unaware of who had bought the 30 million shares off-markets but hinted that it might be private equity fund Creador, which is managed by Brahmal Vasudevan. According to Siva, Creador already holds 61 million shares or a 17% stake in Masterskill.

Interestingly, Brahmal has also recently emerged as a substantial shareholder of SMRT and now holds a 6.18% stake in SMRT

Siva has said that he welcomed these new substantial shareholders into Masterskill, a move, he said, would “benefit shareholders”.

“I believe they are the right people to bring Masterskill to the next level. SMRT has the experience in running an education business and with Creador on board, Masterskill will have no issues with funding,” said Siva Kumar

http://www.theedgemarkets.com/my/article/smrt-holdings-pe-fund-creador-buy-ailing-masterskill-education-group

Been mopping up some of the shares XD

Trading at below 1x p/b...come on guys.

Wats Lau kiap?

Bye bye. Go off and never come back again then XD

I should hope so.

Yes. Together with SMRT

SMRT and Masterskill both suspended!

PETALING JAYA: Masterskill Education Group Bhd (MEGB) has announced the disposal of its assets as several blocks of shares changed hands in the education group.

In a move to become an asset-light company, MEGB executive chairman and major shareholder Siva Kumar Jeyapalan has offered to buy back four properties for RM75mil, while another four non-core properties will be put up for sale.

This move will see the company reducing its gearing to zero.

An independent valuer, principal and independent advisers will be appointed for the proposed corporate exercise, said MEGB.

Yesterday, 30 million shares of MEGB traded off-market in two blocks of shares at a price of 60 sen apiece, indicating a looming shareholding change taking place in the company.

These 30 million shares make up 7.3% of MEGB’s paid-up capital.

Sources said that the block of shares could be part of the entire holdings of the company’s original founder, Datuk Seri Edmund Santhara, who still owns a stake in the company.

MEGB closed 4.5 sen higher to 62 sen on a volume of 20.57 million shares.

This is its highest price in six months.

The company’s latest net tangible asset stood at 59 sen.

On the proposed deal, the first part involves the disposal by MEGB’s wholly owned subsidiary, Masterskill Sdn Bhd (MS), of all its campuses it currently operates for RM75mil in cash to Siva Kumar.

The properties are its campuses in Cheras, Kota Kinabalu, Kuching and Pasir Gudang.

Out of the RM75mil, RM42mil will be used to repay existing bank borrowings, thus totally degearing the company.

The current book value of all the above properties is RM74.2mil.

The second part is a proposed leaseback agreement between MS and Siva Kumar where the former will rent the properties for its operations.

The properties are its campuses in Cheras, Kota Kinabalu, Kuching and Pasir Gudang.

Among the terms include the leaseback being for 10 years, with an option of extending the lease for another five years at the discretion of MS.

The rental increase during the lease period will be advised by the independent valuer.

Meanwhile, the second proposed disposal involves the disposal by MS of all its non-operating buildings it currently owns and are not occupied.

The properties are the Kota Kinabalu Building, Kota Baru Building 1, Kota Baru Building 2 and its Petaling Jaya Building.

The sale consideration will be based on offers received for the properties.

“Indicatively, the current book value of these properties is RM118.9mil.

“The sale proceeds of these properties will be retained as working capital or distributed to shareholders as dividends,” said MEGB.

On its rationale, the proposed disposal will enable MEGB to unlock its capital resources, which are locked up in long-term assets.

MEGB said the proposals will enable MEGB to focus as an education provider group versus being a property holding company.

MEGB will get to bring down its gearing to zero and will be able to concentrate on its business plan.

Meanwhile there were also boardroom changes in the company.

How Soong Khong 45, resigned as chief executive officcer and executive director of the company.

Liew Kok Wai and Yap Yoke Chuan, both 43, also resigned from their position as non independent and non executive director.

In March this year, Hong Kong based How had entered into an agreement with Siva Kumar, for the former to buy-out Siva’s stake in MEGB.

How had agreed to acquire a 29.76% stake in Masterskill from Siva at RM1.10 apiece.

However the deal failed to materialise and the agreement was mutually terminated on Sep 17.

Large blocks of shares change hands as Siva Kumar proposes to buy a few properties