Sarawak Govt has long term plans to develop the state. Hubline’s shipping industry is part of the plans. They will most definitely get support fr Sarawak Govt.

Anybody attended the virtual AGM today ?

Please don’t just focus on the EWOG Palm Oil scheme MNR. Ask them why can’t they refund our matured Contracts Principal sum (JV Fee)?
What about the Asiana Bestari Ginger project? Why don’t you mention that they have NOT paid any Guaranteed Interest for this whole year , neither have they Refunded our matured contracts since Jan 2023 !!
The management ignored all our emails demanding Refund of our invested sums! And none of the management want to take responsibility of ASIANA BESTARI! Until NOW, there’s still NO NEWS WHATSOEVER on our Refunds for MATURED ASIANA BESTARI CONTRACTS . The company is managed by exactly the SAME PEOPLE & yet they take no responsibility of its failure!

mailto: enquiry@mulpha.com.my and enquiry@mulpha.com.au

I wrote in already . Please do your part to request for announcement of Dividends to the shareholders :) . Thanks

Don’t subscribe their RI !

Kenie: u r looking at 2019 results la.... this year 2020 should turnaround to be Black !

it seems that the latest news says the ECRL negeri sembilan stop is at Jelebu and not Labu. Any comment ?

Its trend is following Muda...

Hi Yuanlong57, can u please continue yr AGM updates ? Thanks very much !

This is the company's strategy to push up the share price , I think .

What’s the expected TP ? Anyone has any insider news?

Just hit 0.185 ! Going up now ...

Announcement on boardroom changes yesterday, hopefully this is an indication that the Mgmt is determined to improve the biz for long term.

Let's hope bursa don't kacau with UMA.

Should be out of PN17 soon ?

Flying now !

Buy below 0.15 shld be ok for medium term.

At least Ibrahim Baki has some good connections into Petronas . It’s a good start

With oil prices on the rise , they shld be able to formulate a good plan with many possibilities to revive their biz. Also, how can the gomen allow another bumi co to go down with election coming so close now ....

The directors will always scare minority shareholders that they will delist the counter so they will sell their shares quickly. Look at what happened to Kbunai, it’s still listed after so long ....

https://finnewsweek.com/focusing-the-lens-in-on-eastern-oriental-berhad-3417-kl-shares/540335/

I wrote to HLIB to enquire just now , they told me : "According to registrar, WB shares will be credited on 23.11.17." .... FYI.

Has anyone received their free jag warrant yet ? Please advise. Thanks.

Radzi - the news was dated Nov 24, 2009 ???

Sunway is blue chip in the making ! Gogogo!

calvintaneng - can you enlighten us on what happened to their money lending business ? They got the license already but are they really in the money lending business ? There were a lot of publicity in the past but now what happened , do you know?

Read the IAC from Bursa website :

Although the Offer can be deemed reasonable, we are of the view that the “not fair” substantially
outweighs the “reasonable” as the Offer Price of RM0.24 represents a significant discount of
approximately 77.98% to the RNAV per PTB Share of RM1.09. We noted that certain properties
of PTB Group were not valued since its date of acquisition nor recently revalued which, in our
view, if a recent valuation was carried out, the RNAV per PTB Share is likely to be higher than
RM1.09. As such, we recommend that the Holders REJECT the Offer.

Excerpt fr the IAC :

7. CONCLUSION AND RECOMMENDATION
In arriving at our recommendation, we have reviewed and evaluated the factors which we
deemed to have significant relevance to our assessment of the Offer.
Although the Offer can be deemed reasonable, IPS is of the view that the ‘not fair’
substantially outweighs the ‘reasonableness’ as the:
(i) Share Offer Price of RM0.05 represents a significant discount of approximately 76.19%
to the RNAV per KCB Share of RM0.21. If a recent valuation was carried out on the
Bukit Unggul Land (the date of last revaluation was on 27 July 2012), the RNAV per
KCB Share is likely to be higher than RM0.21; and
(ii) Warrant Offer Price of RM0.02 represents a significant discount of approximately
39.58% over the theoretical value of the Warrant of RM0.0331.
As such, IPS recommends that the Holders REJECT the Offer.
The Non-Interested Directors, having considered the terms of the Offer and the opinion and
recommendation of the Independent Adviser, are of the opinion that whilst the Offer can be
deemed reasonable, the “not fair” substantially outweighs the “reasonable” in view that:
(i) Share Offer Price of RM0.05 represents a significant discount of approximately 76.19%
to the RNAV per KCB Share of RM0.21. In addition, if a recent valuation were to be
carried out on the Bukit Unggul Land (the date of last revaluation was on 27 July 2012),
the RNAV per KCB Share would likely to be higher than RM0.21; and
(ii) Warrant Offer Price of RM0.02 represents a significant discount of approximately
39.58% over the theoretical value of the Warrant of RM0.0331.
Therefore, the Non-Interested Directors recommend the Holders to REJECT the Offer.

TheContrarian : how much is Chen paying u to be his spokesperson ?

The Starbiz Saturday, 28 May 2016

Privatising Karambunai – who will blink first

TAN Sri Dr Chen Lip Keong’s attempt to take property and tourism outfit Karambunai Corp Bhd private is set to be a long-haul affair between minority shareholders and the gaming tycoon himself.

At a buyout offer of five sen per share, vis-a-vis Karambunai’s net tangible assets (NTA) per share of 14.5 sen, the proposed exercise is already facing strong resistance from some minority shareholders, who have deemed the offer as grossly unfair.

As it is, some of them have even taken the case up to the Minority Shareholder Watchdog Group (MSWG) in the hope that the organisation that protects the interests of minority shareholders would intervene.

Meanwhile, acceptance of the buyout offer - whose first closing date is June 9 - has been lukewarm at best. Chen, the president of Karambunai, has so far only managed to increase his stake in the company to 76.15% from 68.46% since announcing his takeover bid on May 5.

Similarly, Chen’s shareholding in Petaling Tin Bhd (PTB) – for which he had also made a bid to take private on May 5 - remains unchanged at 65.07%. The buyout offer of 23 sen per PTB share was also at a significant discount to the company’s NTA per share of RM1.03.

Trading in the shares of Karambunai has already been suspended due to the counter’s slight shortfall in the public shareholding spread, which stood at 23.85% as of May 25.

Minority shareholders are likely to hold out for a better offer for Karambunai.

So, who will budge first remains to be seen.

Certainly, poor market conditions always offer opportunities for company owners to take their listed entities private. But it is also pertinent that offerors take into serious consideration the interests of minority shareholders.

As to what’s fair or not may be a subjective matter. And that’s where the test of who is able to stand the pace of the corporate game comes into play. If minorities do not yield to Chen’s offer of five sen per share for Karumbunai, it will be a long haul for the tycoon to take the property developer private.

Today's Starbiz section also commented on KCB .

http://www.thestar.com.my/business/business-news/2016/05/28/privatising-karambunai-who-will-blink-first-pitfalls-of-overseas-mas-maybulk-leads-the-way/

GiveMeFive :

www.mswg.org.my/files/editor_files/file/2016/english%20newsletters/20.05.2016_Newsletter_14_May_2016_to_20_May_2016_V2.pdf' target='_blank'>http://www.mswg.org.my/files/editor_files/file/2016/english%20newsletters/20.05.2016_Newsletter_14_May_2016_to_20_May_2016_V2.pdf

MSWG’S COMMENTS:

We have received request to comment on the unconditional voluntary take-over offer of all KCB shares by the Offeror. From the surface, the take-over offer would deem to be unfair, as the offer price of RM0.05 per share is at a discount to the market price of RM0.06 (the market price prior to the announcement as at 28 April 2016) and to the net asset (“NA”) per share of RM0.1453 (unaudited NA as at 31 March 2016). However, taking into consideration that KCB has been suffering losses for the past few financial years and the market price has been declining much lower than the NA per share, the offer may serve as an exit opportunity to shareholders to monetise their investments in KCB.
We will further comment on this offer when the Independent Adviser issues their advice. The offer document is also subject to the approval by the SC.

-----------------------------------------------------------------------------------------------------------------------------------
You can go to www.mswg.org.my & look under Newsletter dated 20.5.2016.

http://www.mswg.org.my/files/editor_files/file/2016/english%20newsletters/20.05.2016_Newsletter_14_May_2016_to_20_May_2016_V2.pdf
The above is the newsletter from Minority Shareholder Watchdog Group commenting on the takeover case .

Hopefully , over this weekend , some of you can send some emails over to the Starbiz.

I have written in to the Starbiz , email : starbiz@thestar.com.my .
If you have the Star newspaper, just go to the Biz section, there are many more email addresses of the various columnists. Just include their email addresses.
Please everyone , let's highlight it to the press . The more people that write in the better , otherwise they may just ignore us.

It is advisable that more investors will send emails to Securities Commission Malaysia or call them to highlight this unfair deal, so that they will take this case seriously. TQ!

SCM's email : Aduan@seccom.com.my

Hi all, I just spoke with an Investor Affair & Complaint officer of SCM - her name is Illa Ainaa (Tel : 03-62048999). She said she has referred the case to their Takeover & Merger dept for further investigation . She also said she will provide update once the T&M dept reverts with their findings.

In the past, there were cases such as this Kbunai case that had been stopped but there were also some that were approved even though it was unfair to the minority shareholders. All were evaluated on case by case basis.

I hope more people will write in to SCM to highlight & complain about this unfair deal or call SCM at 03-62048999 (Invester Affair & Complaint) / 03-62048000 (General Line).

Calvin, please advise why do you think Kbunai is still a good bet and why do you think the MGO won't go thru.
BTW, have you also written in to SCM in support of those who have invested at a much higher price ?

Excerpt fr the notification on 5 May 2016 :

2. CONDITIONS OF THE OFFER
The Offer is not conditional upon any minimum level of acceptances of the Offer Shares as
the Offeror already holds more than 50.00% of the voting shares in KCB. The Offeror
currently holds 68.46% of the voting shares in KCB.
However, the Offer is subject to consents being obtained from the following parties:-
a. Securities Commission Malaysia ("SC"), for its consent for the issuance of the Offer
Document; and
b. Any other relevant parties, if required.
Further details on the Offer are set out in the enclosed Notice.

Since CLK's share is > 50%, they only need SCM's approval to go thru. Please read the announcement on 5 May.

In case SCM approves the takeover, you will get back yr money at 5 sen per share.

SCM contact no : 03-62048999. Or send emails to : aduan@seccom.com.my .

Come on everyone, together we can stop this unfair takeover!

I suggest that more people write in to SCM to complain on the unfair offer. Below is the reply I just received fr SCM. They responded very fast, I emailed my complaint on last Fri & they replied today.

--------------------------------------------------------------------------------------------------------


Aduan
aduan@seccom.com.my

To:

Date:May 3, 2016, 4:43 PM
Dear Madam,

We refer to you email below and thank you for your comment.
We will look into the matter and take the necessary action should there be any breach of the securities laws. For any further clarification or if you have any further information to be submitted, please do not hesitate to contact our officers at 03-62048999.
Thank you.
Regards,

Investor Affairs & Complaints
Securities Commission Malaysia

Calvin, do u have any advice on whether to sell now at 5 sen or wait & see if MGO goes through?

Can someone advise what if the minority shareholders do not accept 5 sen/share? What will happen then ?

JUST IGNORE THIS GOOD FOR NOTHING FELLOW LAAA ...

Sunway did not get the project . It's awarded to MRCB-GKent.

Need some clarification here.... Both DrM's sons are in Opcom. If Mukhriz shows support towards DrM (regardless whether Kedah UMNO is behind him or not) , don't you think Opcom's chances are slim in being awarded the TM HSBB2 project? TM's projects are highly political. In this case it's not too good for Opcom, right? Please comment. Thank you.