Reported from theedge 8 hours ago
Willowglen sees 24 million shares traded off-market

By Sulhi Azman | 2017-09-13 23:18:10
KUALA LUMPUR (Sept 13): Willowglen MSC Bhd saw 24.39 million shares, equivalent to 10.02% of its share capital, traded off-market today, according to Bloomberg data.

The shares were traded in three separate blocks at 80 sen per share, valuing the sale at RM19.51 million.

At 80 sen per share, the off-market shares were sold at a 37% discount to its closing price of RM1.27 today.

The identity of the sellers and buyers were not disclosed.

Meanwhile, on the open market, Willowglen saw 3.03 million shares, equivalent to 1.22% of its share capital, change hands.

Willowglen's managing director Wong Ah Chiew via New Advent Sdn Bhd had yesterday launched a takeover for the remaining shares that the group does not hold, at 80 sen per share.

Wong triggered the takeover after increasing his holdings in industrial automation technology solutions provider to 55% from 32.08%, following a series of purchase of shares previously.

Willowglen's closing price of RM1.27 (down 12 sen or 8.63% from yesterday) gives the group a market capitalisation of RM314.96 million.

Hi Alcomates

Be careful due to geographical uncertainties as North Korea had just fired a missile over Japan this morning. Not sure how US will react.

As long as you are holding the shares up to 5pm on 21.08.2017, you will be entitled for the capital repayment dividend of 32sen a share.

Hi All sifu.

Just to clarify that on ex date, the price of alcom would be adjusted downwards by 32 sen right?

Thanks

there you go.....going down to 10 cents....

Stark has aborted the buyover of RM1. That will remove the uncertainty and it's good news for investors.

sold off all this stupid useless counter. it's time to cut loss and move on to other companies than hoping for this stupid company to rebound.
Goodluck to all those who is still holding to this useless company

I think better go for other counter and sell off this stupid useless counter.

hi tkp2.
teach us how you can make 60% from your investment can ? we would like to follow your portfolio sifu

a waste time counter.....when all counters up , it goes down. when all counters down, it goes down.. almost useless counter

Panic selling is expected on IWC when it reopens. Indications on Thursday morning prior to IWC’s suspension was that the stock would open at limit down level, which is 30% lower. The stock closed Wednesday at RM3.08

PETALING JAYA: Fears of companies from China not putting their money in Malaysian government projects, following the surprise cancellation of a deal that would have given a state-owned Chinese firm a stake in the development of the prestigious Bandar Malaysia project, caused sentiment on Bursa Malaysia to go south.

It came hot on the heels of the Ministry of Finance Inc (MoF) calling off the deal to jointly develop Bandar Malaysia with a consortium called ICSB comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC).

Stocks related to Tan Sri Lim Kang Hoo, who is the majority shareholder of IWH, particularly took a beating. Ekovest Bhd hit limit down in early Thursday trade to RM1.01, but subsequently recovered. It closed 26 sen down to RM1.17 on a volume of 230.13 million shares.

Trading in Iskandar Waterfront City Bhd (IWC) shares is suspended for two days following this development, and will resume on Monday, May 8.

Both IWH and IWC are controlled by Lim. IWH is to take over the listing status of IWC via a corporate exercise that should be announced today. IWC will resume trading at 9am on May 8.

Panic selling is expected on IWC when it reopens. Indications on Thursday morning prior to IWC’s suspension was that the stock would open at limit down level, which is 30% lower. The stock closed Wednesday at RM3.08.

Meanwhile, the construction index was the biggest loser of the day, down 1.88% to 341.84. The broader market was down 13.84 points to 1,758.67 on a volume of 3.45 billion shares. Overall, there were some 824 losers compared to 185 winners and 294 unchanged counters.

On Wednesday evening, TRX City Sdn Bhd, an entity under MoF, stated that the share sale agreement (SSA) governing the development of the 486 acres of land in Sungai Besi had lapsed because ICSB had failed to meet the payment obligations despite having been granted repeated extensions.

Following the termination of the agreement, the MoF through TRX City, owns 100% of Bandar Malaysia, the statement said.

Reports stated that the ICSB consortium had been given more than 12 extensions to complete the payment of the first 10% amounting to RM741mil. It is learnt that the consortium had already paid up RM200mil.

However, a source close to IWC said that the conditions precedent to complete the deal were only fulfilled yesterday and that the payment would only come later.

TRX City said it would immediately invite expressions of interest for the role of master developer of Bandar Malaysia to ensure that the Malaysian people benefit from its development in its entirety.

UOB KayHian research head Vincent Khoo said that the announcement by TRX City not only created a potential panic selldown on IWC, which was scheduled to soon sign a definitive agreement to merge with sister company IWH, but could also dampen the broader market sentiment and reverse positive foreign equity inflows into Malaysia.

“We expect IWC shares to be significantly impacted, unless a firm signal of a reversal of the Bandar Malaysia sale termination emerges before IWC shares recommence trading,” said Khoo.

Khoo said that a significant overcast on the broader market sentiment is expected, given that the IWH-IWC merger had marked the start of market exuberance and the run-up in small-mid caps.

“Now, there is the perceived implications on political uncertainty, ‘murkiness and reliability’ of government deals, and dampened sentiment of the Chinese foreign direct investment theme in Malaysia.

“This potential u-turn in sentiment could halt or reverse the strong year-to-date foreign equity inflow into Malaysia, and hence, the ringgit’s recent uptrend.

“Hence, we foresee a period of risk-off, marked by profit-taking on the many concept stocks which have gone ballistic year-to-date,” said Khoo in his report yesterday.

Nonetheless, despite this negative development, the merger between IWC and IWH is expected to continue. A definitive agreement is expected to be signed today.

Recall that in a corporate proposal announced on March 8, IWH would take over the listing status of IWC through a share swap between the two.

The ratio is on the basis of one IWC share to be exchanged for one share in an enlarged IWH. The new-look IWH (newco) will also own up to 7,400 acres of land fronting the sea between Johor Baru and Singapore.

IWH at the moment is 63%-owned by Lim through his private company Credence Resources Sdn Bhd, while the remaining shares are held by Kumpulan Prasarana Rakyat Johor (KPRJ). IWH holds a 38.34% stake in IWC that has 1,072 acres mainly located in Tebrau, Johor.

IWH, on the other hand, has 3,900 acres of waterfront land, of which 80% has been claimed.

The corporate exercise proposes that all la

Lembaga Tabung Haji

Start buying now before the Mou is signed. Then it will shoot up

Tp 70

Kulim into O&G business

Kulim To Take Control Of 40,645 Hectare Of Oil Palm Land In Kalimantan

By Ahmad Fuad Yahya

JAKARTA, Oct 3 (Bernama) -- Kulim (Malaysia) Bhd is eyeing to take control of 40,645 hectares of oil palm land through the acquisition of an Indonesian company for US$43.44 million (about RM140 million) and ventures in the oil and gas sector.

Its Chairman Datuk Kamaruzzaman Abu Kassim said Kulim was acquiring a greenfield project in northern Barito, Central Kalimantan, Indonesia, to enable the group to diversify its geographical presence into other locations suitable for cultivation of palm oil apart from Malaysia, Papua New Guinea and the Solomon Islands.

He said Kulim was poised to increase its direct landbank by 80 per cent from the current 49,551 hectares to more than 90,000 hectares upon the completion of the acquisition, noting that the move was consistent with the group's long-term business plan to expand their oil palm landbank.

"With oil palm land getting scarce in Malaysia, Kulim is proactively looking at steps to significantly increase its landbank particularly among neigbouring countries.

"The choice of Kalimantan was also made given the goup's previous experience in the region besides the biophysical suitability of the area as evidenced during the site visits," Kamaruzzaman, who is also President and Chief Executive of Johor Corporation, said in a statement here on Thursday.

Johor Corporation owns a 56 per cent stake in Kulim.

Earlier, Kulim inked a memorandum of understanding (MoU) and conditional shares sale agreement (CSSA) with Indonesia-based PT Graha Sumber Berkah (PT GSB) to signify both parties' commitment to work together in developing the oil palm plantation and explore opportunities in the downstream and upstream oil and gas sector.

Also present to witness the event were Johor Mentri Besar Datuk Seri Mohd Khaled Nordin, who is also Chairman of Johor Corporation; Chief Secretary to the Government of Malaysia Tan Sri Dr Ali Hamsa, who is also Deputy Chairman of Johor Corporation; and Malaysian Ambassador-Designate to Indonesia Datuk Seri Zahrain Mohomed Hashim.

Kulim returns to Indonesia after a break of over six years. It sold a total of over 40,000 hectares of its oil palm plantation in Kalimantan and Sumatra in 2006.

Earlier, when addressing the event, Kamaruzzaman said the company was expected to fully develop the oil palm plantation in Barito in seven to eight years and expected to get returns in 12 years.

Meanwhile, Kulim Managing Director Ahamad Mohamad said the group was committed to procuring the relevant endorsements for the greenfield development, and has engaged Daemeter Consulting to carry out all the necessary assessments.

Daemeter is a leading independent consulting firm in Indonesia promoting sustainable and equitable management of natural resources.

Ahamad said Kulim's move to acquire a 75 per cent stake in Indonesia-based PT Wisesa Inspira Nusantara (PT WIN) for up to US$43.44 million would pave the way for the group to tap into the expertise of its local partner PT GSB that would effectively hold the remaining 25 per cent stake of PT WIN.

The company via its advisor RHB Investment Bank had, at the close of trading today, announced to Bursa Malaysia the details of both the MoU and CSSA.

For the year ended Dec 31, 2012 (based on restated figures due to discontinued operations), Kulim's revenue dipped 13 per cent to RM906.82 million from RM1.042 billion in 2011, mainly due to lower palm product prices.

In the same period under review, Kulim's profit after tax rose 0.3 per cent to RM1.011 billion from RM1.007 billion previously.

-- BERNAMA

Kulim To Take Control Of 40,645 Hectare Of Oil Palm Land In Kalimantan

By Ahmad Fuad Yahya

JAKARTA, Oct 3 (Bernama) -- Kulim (Malaysia) Bhd is eyeing to take control of 40,645 hectares of oil palm land through the acquisition of an Indonesian company for US$43.44 million (about RM140 million) and ventures in the oil and gas sector.

Its Chairman Datuk Kamaruzzaman Abu Kassim said Kulim was acquiring a greenfield project in northern Barito, Central Kalimantan, Indonesia, to enable the group to diversify its geographical presence into other locations suitable for cultivation of palm oil apart from Malaysia, Papua New Guinea and the Solomon Islands.

He said Kulim was poised to increase its direct landbank by 80 per cent from the current 49,551 hectares to more than 90,000 hectares upon the completion of the acquisition, noting that the move was consistent with the group's long-term business plan to expand their oil palm landbank.

"With oil palm land getting scarce in Malaysia, Kulim is proactively looking at steps to significantly increase its landbank particularly among neigbouring countries.

"The choice of Kalimantan was also made given the goup's previous experience in the region besides the biophysical suitability of the area as evidenced during the site visits," Kamaruzzaman, who is also President and Chief Executive of Johor Corporation, said in a statement here on Thursday.

Johor Corporation owns a 56 per cent stake in Kulim.

Earlier, Kulim inked a memorandum of understanding (MoU) and conditional shares sale agreement (CSSA) with Indonesia-based PT Graha Sumber Berkah (PT GSB) to signify both parties' commitment to work together in developing the oil palm plantation and explore opportunities in the downstream and upstream oil and gas sector.

Also present to witness the event were Johor Mentri Besar Datuk Seri Mohd Khaled Nordin, who is also Chairman of Johor Corporation; Chief Secretary to the Government of Malaysia Tan Sri Dr Ali Hamsa, who is also Deputy Chairman of Johor Corporation; and Malaysian Ambassador-Designate to Indonesia Datuk Seri Zahrain Mohomed Hashim.

Kulim returns to Indonesia after a break of over six years. It sold a total of over 40,000 hectares of its oil palm plantation in Kalimantan and Sumatra in 2006.

Earlier, when addressing the event, Kamaruzzaman said the company was expected to fully develop the oil palm plantation in Barito in seven to eight years and expected to get returns in 12 years.

Meanwhile, Kulim Managing Director Ahamad Mohamad said the group was committed to procuring the relevant endorsements for the greenfield development, and has engaged Daemeter Consulting to carry out all the necessary assessments.

Daemeter is a leading independent consulting firm in Indonesia promoting sustainable and equitable management of natural resources.

Ahamad said Kulim's move to acquire a 75 per cent stake in Indonesia-based PT Wisesa Inspira Nusantara (PT WIN) for up to US$43.44 million would pave the way for the group to tap into the expertise of its local partner PT GSB that would effectively hold the remaining 25 per cent stake of PT WIN.

The company via its advisor RHB Investment Bank had, at the close of trading today, announced to Bursa Malaysia the details of both the MoU and CSSA.

For the year ended Dec 31, 2012 (based on restated figures due to discontinued operations), Kulim's revenue dipped 13 per cent to RM906.82 million from RM1.042 billion in 2011, mainly due to lower palm product prices.

In the same period under review, Kulim's profit after tax rose 0.3 per cent to RM1.011

yes...goring time for cliq-wa

u got any news on this lotus1?

yea...there could be Party B C D and E waiting....hahah

usually company announcement is already known before it's announced. Hopefully, the MOU break is a good news for Patimas to look for another buyer....shall see tomorrow

strange....why are plp still buying at 0.65 when they already know the MOU did not go thru ??

how to reach 7cts when the MOU did not go thru

habis...

flying tomorrow

macam tidur mati aje?

woi...tidur kar??

be patient....

due to T+3 selling for those who bought last week