very good buy for MAA. great discount 18 cent v 53 cents NA . prime property too.

it will fly tomorrow

first vote against payment of directors remunerations/ fees etc. they done nothing to deserve it

stock very cheap at 2.5 cent. This does not reflect the true net worth of the company.
NTA 7,3 cent, private placement 5cent. Company now profitable.
Major shareholders please do something to protect your investment.

NOT FAIR. VAST DISCOUNTS over the NTA of company. RM1.10 too low.

My Simple analysis.
They offer you rm1.10 for your shares. Net book value is rm1.94 . This is 0.84 cents or 43% discount . If you accept , your shares will be cancelled. Major shareholders will get your discount and own the whole company. The Net-worth of the company acquired by major shareholders(owns 105,777,000 shares)will be rm349,341,000 (533,856,000-184,515,000) or rm3.30 per share . This is because your discount is given to the company.

So you get 1.10 ,they get 3.30 after you accept. This is NOT REASONABLE.

The offer does not mentioned the NTA value of the company and NTA after SCR. Major shareholders gain plenty !!
Independent advisor please read this and give an unbiased opinion. The offer price only compare the last 12 months market price of a PN17 company. The premium appears Fair but totally NOT Reasonable as the NTA is not taken into account. Also ,the Investments in Philippines are profitable, Major shareholders will get a going concern company with good potential and higher value then the minority shareholders without putting out 1 single cent as the entire exercise is funded by internally generated funds.( your funds)

If company is totally liquidated, you will get + - rm1.94 as most of the assets remain in the company now is cash and a going concern company in Philippines .

NTA RM1.94 . cash + Debtors (from sale of previous companies) almost rm1.13. Based on Dec 2018 accounts. Almost 43% discount from NTA with the offer of only Rm1.10. The major shareholders are taking us for a ride. They use existing company cash to pay minority charity shareholders.
They only compare with market values of the share price . Totally ignored the NTA and recent sales of associated companies.

If company is liquidated , the forced sale value will not be less than rm1.74 . (say 10%) discount .
If they force us via the independent advisors, we will need to write to Minority protection body.
The independent advisors must take into account of the NTA of rm1.94 , not only the share price in the last few years.

Worst case scenario is MAA get delisted and we become minority shareholders of an unlisted company.

Lets wait and see what the independent advisors have to say before making decision

Cheers.

good analysis Jamesooi. can't lose at current price.

great summary Alipapapa.

results good . definately will go above 0.68c as major shareholders convert loan stock at o.68c.

it will be out of pn17 onces it has a few profitable new business. no worries still cash rich company.

major shareholders/ICUL holders convert at 0.68cent . medium term price will be up to more than0.68 cents. otherwise major loan stock holders rugi.

new shareholder once reached 30% has to make general offer

Need to put in more profitable companies/ventures into Bioosmo to turn the company round. Then you can raise capital from the public/new shareholders.

anybody knows prices of log and plywood in second qtr. if prices good profits will be very good

director buying, EPF buying, good support for the share price!!!

2nd qtr will have better results. If they remerge, the sum of parts valuation will be higher, stock is under value now due to poor results last 2 qtrs !!!!

well done sir. it is people like you that gives hope to other unfortunate talented non Bumi a chance. god bless you.

a true hero indeed . fight for justice........

CPO and Log prices ail continue up trend. 2014 will have better profits tun 2013.

mediam term, price will go up after bonus, share split etc to create more trading liquidity. right now the share can go up 5/10 cent with one lot done only !!

Whatever happens, the NTA is about rm1.40 . Even if delisted and a force fire-sale of assets, shareholders can get back at least rm1.00 or more …..