From the top 30 largest shareholders list, one person name Lam Kong Tang owns 1.61% , if he can accumulate another extra 3.2% , which makes him 4.8% ownership, then he alone too (beside PNB) will be able to veto this deal. From this Tue until few days before the EGM, Lam Kong Tang or ANYONE, including local/foreign funds, existing or new shareholders can still buy MMC shares.

There are many other possibilities. Very unlikely there will be other competing offer. But if that happens, it will be a really fun and interesting corporate takeover exercise .

Sometimes takeover go through, sometimes it does not. It's not a sure thing. It all depends on the number of shareholders voted on the EGM and/or its shareholdings. Shareholders have the ultimate says. Last year Jardine Matheson failed to takeover Cycle Carriage Bintang Bhd. This year they tried again with sweeten offer. Again, it failed the second time. MAA privatisation also failed because the shareholders rejected the low offer. And few other cases.

I’m sure some MMC shareholders will find RM2 offer is too low. It is corporate democracy... it will purely be NUMBERS game. Who has the number. Just like elections. Do you have the number? (eg. Anwar said he has)

PNB owns about 20% or more through its Amanah funds. PNB is not party acting in concert. PNB alone will be able to veto this deal. EPF also owns about 2%. If PNB agrees, which in my opinion most likely they will judging from PNB/EPF support of MMC's previous corporate RPT transactions in 2008.

So, i think this privatisation deal will likely go through.

Unless PNB and EPF will voluntarily abstain from voting and only let minority shareholders to decide if the proposed deal should go through or not. Do you think that will happen? I don't think so. Based on the 2008 RPT, we can deduce or suspect how BFF between SM and PNB.

Regardless, PNB has a duty to maximise value for its stakeholders since it is managing public funds. Their mandate is to enrich the lives of Bumiputeras and all Malaysians. With such great power comes with great responsibility. In my opinion, they can easily and should negotiate a slight higher offer, let’s say at RM2.20 per share. Even at RM2.20, it will still be 30% discount to MMC book value. Everyone still win. Bumiputeras, Malaysians, PNB bosses, SM, MMC shareholders, independent directors, bankers, lawyers all win. It looks good on PNB for doing their best and leverage on their veto position in the interest of Bumiputeras and Malaysians.

they need to create more products, enter into more markets and change management to more aggressive and hardworking one.. Those old guards really too comfortable already.

they are just selling coffee product. it is not a high margin or difficult to enter market. competition is fierce. have you been to supermarket aisle that sells coffee product?
they need volume. its a low margin high volume game. they need to expand into more international markets. but i think the management a bit lazy. no drive. hence share price is being punish for their incompetence.

it's a matter of time people will realised this undervalued company. with NTA of RM3.22 per share... almost like MMC... it's ripe for takeover too. Easily hit above RM2 .

I agree with the comment on Suria Bhd, a Sabah port company. Not many people know about this undervalued company. I invested in Suria too. Same like MMC which is 51% own by SM, Suria is 51% own by Sabah government. MMC had tried FEW times to buy Suria but Sabah government do not want to let go its strategic port asset. It makes sense ... Why sell your strategic and important asset to other people? There's also news that Dubai World Port also want to buy Suria. Go research on your own about Suria Bhd. Although it is much smaller port company (only Sabah)... it is solid, steady, stable. I have commented few times on my opinion regarding port businesses.

Congratulations to the recent MMC shareholders! Our conviction is correct on MMC.

most likely it is privatisation offer . Question is only : At what price and which method (GO or SCR)? i think it is a genuine intention that SM wants it private... like what he did to Tradewinds. If too low offer, it's going to be waste of his time since quite many institutional funds can block it.

privatisation is definitely on the cards. after privatisation, SM will list its ports division.

the question is; how much will he offer? better buy more now to have more bargaining power.

https://www.theedgemarkets.com/article/mmc-likely-undertake-shiptoship-transfer-business-yan

reminds me of Transmile. Anyone remember?

Guess where do all this export containers have to pass through?

https://www.theedgemarkets.com/article/malaysias-february-exports-jump-176-strongest-yoy-expansion-october-2018#

quite obvious that certain party with insider information is manipulating the price with advanced planning for some other motive (eg. takeover). it is not normal indeed.

it is just the beginning. the rising momentum and volume.. will be on uptrend for a while i think... this company has been on a pn17-freezer for the past 10 years .. Hardly people know MAA. Takes time for the retail and institutional investor to realise that the share is a good buy and full of cash.

https://eresearchsystem.bursamalaysia.com/eResearch/webdownload.pub?id=32966

"...BCC has total assets worth RM313mn as at Dec-19. Meanwhile, based
on the independent valuer report, the land has a potential value of
RM250mn. As such, the purchase consideration of RM230mn is a real
bargain. Note that Boustead acquired BCC for a total purchase
consideration of RM310mn in 2014.

the joint acquisition was proposed by Northport. This acquisition is
expected to complement MMC’s (the holding company of Northport)
cruise terminal business in Penang by adding Kuala Lumpur and Klang as
points of attraction for cruise operators. ..."

yet to know who is buying.

in an IDEAL situation, it would be great to have a foreign fund to make a hostile bid. due diligence has been made in 2019 with respect to the estimated fair value of the company at around RM2.19 per share. hostile bid is an extremely rare practice or almost non existence in malaysia capital market landscape . just saying, how nice if that is the case. #dreaming :)

the market did not like the recent announcement of MMC's purchase in either the 50% stake in Boustead Cruise Centre or/and Retro Highlands. I honestly do not like it either. but i see that acquisition is relatively small to other deeper value that MMC has.

last time, back in 2009 the market also did not like MMC foray in land purchase in Senai too. it was deemed risky and expensive.

Then in 2015, Senai sold a piece of land it bought at RM140 million (in 2009) at RM370 million to I-Park Sdn Bhd. MMC made profit. https://www.theedgemarkets.com/article/mmc-sells-senai-land-rm36997m

i think the market overreacted. It is not a loss. It is an investment. All investment comes with a risk. You can make profit. Yet to know. I think the selldown was overdone. But we all know this :
“The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The Intelligent Investor is a realist who sells to optimists and buys from pessimists.”

MMC is still deeply undervalue.

how long to process the upliftment PN17 application ?

It is at the full discretion of Bursa Malaysia

The current CEO of Bursa Malaysia is Datuk Umar Swift since Feb 2019.

He was the CEO / Group Managing Director of MAA from Sep 2006 until Feb 2019 ... more than a decade ...about 13 years at helm .. making MAA from unhealthy to a very strong and healthy company, financially. With that skill, no wonder he was head hunted to lead Bursa Malaysia.

Honestly, I do not know why it is taking Bursa Malaysia so long to process the upliftment. No one else know MAA situation better than Datuk Umar Swift. One cannot stop to speculate there must be something else going on ...

It could be ...... a) out from PN17 b) some sort of takeover again , second attempt c) new shareholder/s accumulating d) new development on investment (eg. bidding for digital banking license, manufacturing business?) e) punters want to goreng/gamble

with its recent acquisition appetite, there is more compelling reason for them to unlock its ports valuation thru IPO soon.... whether to narrow down the discount holdings and discount to book value.

"The Proposed 50% Retro Highland Acquisition provides opportunity for potential steady flow of
construction orderbook for residential and commercial buildings to MMC Group by participating
in property development through the strategic collaboration with a leading Malaysian property
developer, namely SP Setia, to undertake the QSPH Project, which includes the development
and construction of commercial and residential buildings.

This can be achieved by way of leveraging on the Company’s existing competencies (via its
subsidiaries principally involved in engineering, infrastructure and property development
businesses), particularly in property and construction in Malaysia. In this case, MMC
Engineering Sdn Bhd, a wholly-owned subsidiary of MMC is expected to tender for portions of
the construction works that are related to the QSPH Project, which has an estimated gross
development value amounting to RM16 billion over a period of 24 years. With this, the QSPH
Project offers opportunities for MMC Engineering Sdn Bhd to potentially participate and secure
sustainable construction earnings throughout the long-term project period."

the proceeds from its January disposal (RM227.6 million) of the Red Sea Terminal Company can be easily use to cover this 50% of Retro Holdings (RM250 million). It's from one investment gain to another investment.

"Should the Shareholder’s Loans and Loan Interest is excluded from the valuation, the range for the 50% equity interest in Retro Highland is
ranging between RM178 million and RM205 million. For information, as at 28 February 2021, Retro Highland has a short-term funds, cash
and bank balances of approximately RM81.7 million "

Not that i like this deal, but I think this investment is relatively "small" to MMC's ability and overall assets and market is over-reacting.

will MMC try again to persuade Suria to sell some stakes? everything has a price right?

https://www.portstrategy.com/news101/world/asia/mmc-makes-another-play-for-sabah-ports

https://www.thestar.com.my/business/business-news/2021/03/18/auto-sector-back-in-high-gear

will do well this company.

...the shipping container market is showing continuously strong demand that shows no sign of weakening in the short term.. MMC ports are definitely in position to capture some of this boom cycle.

https://theloadstar.com/containership-charter-market-has-gone-bananas-with-2m-on-a-fixing-spree/

I think the IPO of its ports division is likely to happen this year to capture the highest valuation. Invest for the long term.

https://www.youtube.com/watch?v=RlrnS8hYSQI&ab_channel=PTPMalaysia

maybe seeing is believing :P

Semiconductor boom? Gloves boom? You need import raw materials and export the finished products. Guess where are the entry/exit points for all those stuff? Oh, let's not forget about the TRANSHIPMENT...(other countries to other countries container... transit hub) which happen to be MMC's biggest and most lucrative one : Pelabuhan Tanjung Pelepas (PTP) :)

"the port sector to remain resilient, underpinned by global trade and investments in the manufacturing sector that generate tremendous inbound (feedstock) and outbound (finished product) throughput for ports."

“MMC is well positioned to capitalise on these via its stable of five ports in Peninsular Malaysia with a total container handling capacity of 21.3 million 20-foot equivalent units (TEUs) annually, ”

MMC port operations set to capture manufacturing boom

https://www.thestar.com.my/business/business-news/2021/02/16/mmc-port-operations-set-to-capture-manufacturing-boom

maybe the glove troopers realised that the gloves exporting boom need to consume much gas (Gas Malaysia) and energy (Malakoff) for production, logistic (Kontena Nasional) and pass through one of (MMC Ports). :D

when your conviction and your own time tested theses is proven to be correct, you don't leave. if you can you pile in more. In other words, you go for the jugular.

if you guys have confident in ports business like I do, go research about another Malaysia listed port business Suria Capital Bhd. To me it's another gem. As a matter of full disclosure, I have interest in Suria shares. I like port business for many reasons. One of them is that port is a country's strategic asset that's kinda monopoly and also I am familiar with it. When I was in UK I've witness the takeover of DP World of P&O Ports drama.... with US politicians against it ... with Singapore's PSA counter bid and caused P&O Ports share price shot through the orbit... Eventually Dubai won the bid but forced to divest of its US operations. It was about 15 years ago but still remember this high profile takeover case. Closer to home, we also had Tenaga takeover of Lumut port (Integrax Bhd) drama. Did I say I love ports ? :)

MMC approached Suria before but didn't manage to convince Suria to sell. It's understandable that Sabah government / people wants to have full control of its ports. There was even rumours that DP World (Dubai) wanted to buy Suria ports as well. I think MMC will again try to convince Sabah to sell... in return... offer them a share swap of the larger listed entity. It's just my speculation.

When it wakes up.... It's going to roar like MMC ! There is not much outstanding shares out there too. Collect while you can. SM owns 51% of MMC, Sabah government owns 51% of Suria .

I’ve said before, the share price of this large capitalisation company with its high voltage trading volume will rise further irrespective what we all say here.

Of course, I also recognise that there is something unsound about increasing one’s exposure in the course of a trend because it makes one vulnerable to a temporary reversal. I am nevertheless willing to increase my shareholdings even at this point because I believe that the scope of reversal has diminished. Short term volatility is greatest at a turning point and diminishes as a trend becomes established. This is the case now."

How much further more? What we know and have seen to other precedents (other companies stock prices) is that they tend to overshoot and it’s pointless to give any target price when the trend is still very much so relevant and prevailing.

"As long as the music is playing, you’ve got to get up and dance” - quote Charles Prince (ex-CEO of Citigroup)

Sabah very different working culture... Very chill and relax... Hahaha

this giant already woken up... it will continue to rise irrespective of what we say or comment here. just watch the momentum....enjoy the ride.. It's like those massive container ship's momentum....moving ahead. last thursday she blasted its horn... many heard and noticed her ...

@pinky can i know what is the facebook group? I want to see what they write in the forum too. Thanks

https://www.thestar.com.my/business/business-news/2021/03/05/mphb-capital-unit-still-in-talks-to-sell-stake-in-mpi-generali

I wonder where does the volume come from? to have such high voltage trading volume....

sold Suria Capital (Sabah ports) to add more MMC. In port we trust indeed.

wow. today is a good day!

MMC already awaken. When is Suria gonna dance?

it won't sleep so soon. still can join in the party...why not dance together while the music just started :)

once this giant is awake... it will roar and soar!

i mean the market substantially undervalue MMC

if i were SM, i would privatise the company since the market does not value MMC . then only relist its ports division.

my only regret is i didn't liquidate my FD to buy more. If it drops back to 0.80 , I actually will be happier than if it hit 1.40 ... i know many will curse me here... But hey, we all know trading stocks is a selfish & arrogant game. :P

Never sell a stock that is on uptrend. I think it will hit 1.40 easily :)

sugar HIGH. yay! :)

I am guessing that the company will be out from PN17 very soon and will bid for digital banking license.