goldis has other interests and will bear fruits.

goldis selling entire interest in IGB, option of share or cash distribution to its stakeholders.

Marubeni and MD has started to buy in mother share, warrant will also go up.

Tommylou, I have read your postings, good to GO and will it be quick now? thanks.

finally ex-dates 14/5/13 and payment 16/5/13 for the dividends.

Starbiz, 17/4/13 issue:
KUCHING: Yung Kong Galvanising Industries Bhd (YKGI) targets group revenue to hit the RM500mil mark this year on improving demand for its products as the local steel industry recovers from its doldrums.

Managing director and chief executive officer (CEO) Datuk Soh Thian Lai said sales of steel products had picked up as reflected by a 44% jump in YKGI group's turnover to RM139mil in the first quarter ended March 31, 2013 from RM96.5mil in the same period last year.

The company returned to the black with a group pre-tax profit of RM2.63mil for the first quarter from a loss of RM3.07mil in the same quarter last year.

“Our group has RM100mil worth of outstanding orders to be delivered. We expect a 25% increase in group production to 250,000 tonnes this year from about 200,000 tonnes last year,” Soh told StarBiz after YKGI's EGM here yesterday.

He said the group recorded about RM460mil in turnover last year, adding that the highest annual revenue it had registered so far was RM480mil before the industry's downturn.

YKGI, which has manufacturing facilities in Selangor and here, is Malaysia's top three flat steel producers among the seven players.

The group's main products are pickled and oiled coils, cold rolled coils, galvanised iron coils and pre-painted galvanised iron coils.

Soh said the steel industry in Peninsular Malaysia had benefited from better profit margins on increasing demand and that the company was confident the current demand could be sustained.

He said YKGI's average gross profit margin had risen to 10.2% from 7% a year ago. The company hopes to raise it by a further 5% by June.

He said the local steel industry experienced a turnaround after prices of steel products in China and Japan moved up early this year.

According to Soh, YKGI group sourced 100% of its imported raw material and hot rolled coils from Nippon Steel Corp, which has a 10% equity interest in YKGI.

He said as Nippon Steel was Japan's biggest and the world's second largest steel mill owner with an annual production of 55 mil tonnes, it was able to lower production cost.

“Besides the competitive price, Nippon Steel guarantees high quality and a constant supply of the raw materials to us,” he added.

At the EGM, shareholders approved a series of corporate proposals, including fund-raising.

YKGI is expected to raise net proceeds of RM42.95mil from a private placement and restricted issue of new 50 sen shares to substantial shareholder Marubeni-Itochu Steel Inc.

The private placement of more than 39.1 milllion shares representing 20% of the company's existing issued and paid-up capital will raise gross proceeds of RM19.55mil.

Soh has agreed to subscribe to a minimium of 10 mil placement shares and the remaining new shares would be placed out to third party investor.

The restricted issue of 48.8 mil shares to Marubeni-Itochu Steel Inc will raise gross proceeds of RM24.4mil. From the gross proceeds, RM1mil will be used to pay for the expenses of the corporate exercise.

Soh said the proceeds would be used as the company's working capital within 12 months.

Also approved was the proposed acquisition of the remaining 45.52% equity interest in Starshine Holdings Bhd for RM16.6mil to be satisfied via the issuance of 33.2 mil new 50 sen shares.

On completion of the acquisition, Starshine will become YKGI's wholly-owned subsdiary. Starshine group is principally involved in the manufacturing and trading of both long and flat steel products.

The EGM also gave its nod to a bonus issue of up to 38.2 mil new shares on the basis of one bonus share for every 10 existing shares held on an entitlement date to be determined later.

Shareholders will also get three free warrants for every 10 YKGI shares. The exercise will involve the issuance of up to 114.6 mil new warrants.

The bonus shares and free warrants will only be issued after the completion of the acquisition of Starshine, private placement and restricted issue.

“Marubeni-Itochu's stake in YKGI will be increased to over 26% from 18.4% upon completion of the restricted issue,” said Soh. Marubeni-Itochu has been YKGI's major foreign shareholder since 1983.

Nippon Steel's stake in YKGI will, however, be diluted to 7% after the corporate exercise

Soh said the combined stakes of Marubeni-Itochu and Nippon Steel would jump to one-third of YKGI's expanded capital of RM165mil upon completion of the entire corporate exercise expected by next month.

Tambun is on the way up! Solid financials, strong growth will propel the price to more than RM1.00.

positive news, expect share prices to move up now!

here. Yunkong's financial report is out,done very well.

Yunkong financial report just released, very good.

richman, come over to this forum, can share more with the others.

thank you yunsking, you and team have demonstrated that bullies cannot do as they like to the minority shareholders. I would think he has lost more than paying this revised price, time is money and so much time has been wasted. Big lesson to be learnt!

mother or warrants more potential to move up?

its apartments, condos, taken up like hot cakes!

rock solid, steady rise...

time to let go, and then wait and see.

as usual, kneejerk response for almost all counters will dip slightly, and then move up again after the announcement.

market already discounted GE13 factor, prices of all good counters will now bounce back.

MBf Holdings Bhd has extended its revised takeover acceptance offer to minority shareholders to Apr 28 from tomorrow. The company said all other items and conditions of the offer remain unchanged. MBf‟s major shareholder, Tan Sri Dr Ninian Mogan Lourdenadin, is taking the company private. (BT)

restructure and charging ahead. First of many good things to come....

KFima's earnings power valuation is conservatively 3.28, what will make the current prx jump to reflect this level?

grab yours before too late

rupert, jacko, same person ?

tonylim, isn't the following correct?
From the sale of its rubber glove business, it had a cash backing of RM2.10 plus Sun and Electron. After the cash payout of RM1.70 per share, the cash backing is 0.40 per share plus Sun and Electron.
Need your help here!

plenty of upside as Adventa has a cash backing of RM0.40 per share & this does not include their business Sun Healthcare (M) S.B. and Electron Beam S.B. So plenty of upside there.
Look at CI Hldg, similar status as Adventa, it is now above RM1.05 !

this subject closed, couldnt resist the temptation just now to poke a finger in rupert's eye because he deserves it. EOD.

Rupert you are one big YAWN really to keep harping on the same subject. If I say I am grateful to OTB and others like him for providing the extra edge for us newbies to learn, does it mean we angkat them or we are beggars? Give respect and appreciation to those who earn it, and for those who earn our disdain, we dont badmouth them just ignore them. Ha, ha, I thought subject already closed, and hope it remains closed.

Mr OTB, actually no need to explain again but you did to clear the air.
As newbies if we trade on feelings only or on hot air and gossip, we go all to holland. But with the advice and analysis given by people like you, we have that extra edge to help us, and for which I am ever grateful, and win or lose, I am ready to take the risks.
Keep up the good work and the goodwill will never go away.

with this news, price go up faster

getting ready for takeover?

well said kcchongnz, lengthily and et al, hehe. that's the right spirit, none of us can and should pin you down as to how you conduct your buy/sell/buy transactions. Good 'nuff that you analyse for us dungus, and this is same as what OTB was doing for us here, sharing his knowledge.

PureBull, any more good counters before GE13? and after GE13? thank you.

time to go higher and higher

hey all, now time to refocus on the market and try to make some more $$$. Jacko, you are trying to push your points, just focus focus on the market, and do share if you have any good counters, fair comments and recommendations, will read and consider to take risk or not, decision is entirely ours.
OTB, kcchongnz, kcloh, chong, and other generous people like yourselves, please continue to keep on sharing your analysis. To quote from investor77:
To make money from the market, we must have something better than the rest, such as T3B System, ShareXPert, TA, etc, then our chances of making profit higher. We should appreciate Mr Ooi , who is willing to share valuable tips to i3 investors, despite not getting anything monetary in return. Case closed. thanks to all.

Mr OTB, you do not need to answer to your critics. The fact that you took the trouble to provide a lengthy answer demonstrates your sincerity. If I lose or not lose in the market is entirely up to the decision I take, and this should be abundantly clear to everyone that the decisions they take are fully of their own free will.

anything is possible

No one is compelled to follow opinions or advice given in this forum, but if you follow and things dont go exactly as hoped for, pls dont get angry. all I know is, I appreciate OTB and all the others who share some of their knowledge and analysis with us because I, and a great many others, are greatly lacking in this area. Finally, I try to apply loads of commonsense to what I do, buy or sell, and win or lose it is my final decision. No fault to anyone if I lose.

higher and higher

higher and higher

takeover ??

still lost, bought at 0.855, even with the cash distribution, etc. etc. and sell at 0.66, still lost

Dear OTB, welcome back to this forum. Sold mine at 0.655, now waiting if share falls back to buy in again. Final decision is mine and ours, whoever reads your post. Appreciate your sharing and pls continue to share with us.

yunsking, noted and thanks.

Subur Rahmat keeps building up their shares, anything going on?

From The Star:
KUALA LUMPUR: MBf Holdings Bhd (MBf) major shareholder, Tan Sri Dr Ninian Mogan Lourdenadin has raised his takeover offer price for the remaining shares and warrants following opposition from minority shareholders.

Ninian and parties acting in concert with him announced on Thursday the offer shares were revised from RM1.50 to RM1.70 and the warrants from 50 sen to 70 sen.

Most importantly, shareholders who had accepted the original offer would also benefit from the higher revised offer and they would receive the incremental increase within 10 days.

MBf said the revised offer would be kept open for acceptances until 5pm on April 3, which is the extended closing date.

At midday, MBf shares rallied 18 sen to RM1.70 and the warrants gained 16.5 sen to 66 sen.

==========================================

yunsking, that sounds reasonable. U sure IAC was rejected?

hahaa, with all these bad feng shui going his way, his privatisation exercise will be very bumpy, and he deserves it,
3 simple words, serve him right!

yunsking, glad that your efforts to 'educate' the public have paid off, at least the price has gone up much more above the 1.50. Pity the other shareholders who sold theirs already at 1.50. Can they claim the difference from MBFH?

it's a case of penny wise, pound foolish. Trying to get around paying what was rightfully announced to the shareholders, he stands to lose more by the delays as time is always precious to the businessman.
So should the true price be 1.50 + 0.30 = 1.80 ?

yunsking, thanks for the update. Indeed it looks as though as there's something very fishy about the whole offer. Do hope the price rises more and more!


Privatisation of MBf causing unhappiness among minority shareholders
Author: value_investor | Publish date: Wed, 13 Mar 10:00 | >> Read article in Blog website

The planned privatisation of MBf Holdings Bhd (MBf) is causing unhappiness among minority shareholders. Among the main grouses is the special dividend that was promised to them following the sale of its card business to the AmBank Group. They also contended that MBf's takeover offer should have been based on its recently released financial year (FY) 2012 results, which had factored in the gains from the disposal of its card business as opposed to FY2011. On Monday, MBf's major shareholder, Tan Sri Dr Ninian Mogan Lourdenadin, had extended the takeover offer by another two weeks to April 3 from March 20. (StarBiz)

Source: CIMB Daybreak - 13 March 2013