From what I observe, they will wire 157m to vendor right after getting SH's approval in EGM

Why not ? They have started harvesting in FMU5 and can always use the land title as collateral for the bank loan

Anybody here going to EGM tomorrow ? Do post some insights....Tq

Wish my explanation above clear all your questions....Wish all of us GOOD LUCK

Given that approval from SG is not granted yet, I believe they have arranged with lenders to disburse the 157M to the vendors TOMORROW as per agreement !!

The above is Scenario B : Cash Option (discount 25M)

They had earlier paid 23m deposit, 157m is to be paid after EGM (22.05.18) thats tomorrow !!
Thereafter each month 10m for follwing 5 months and lastly 5m Retention Money
Aggregate purchase price : 235m (A Bargain price !)

So far no but I think 0.5 tp is still intact...

soon9913 if not list SG unit, where got money pay the RM260mil?

AS per Prospectus...If cash option RM235M only, discount RM25m, to be funded by bank borrowing and/or internal generated funds.. This is the best option , no dilution on earnings !!

Going forward with the harvest from Compartments 63 & 64, I think production will easily exceed 70000 M3 per month as envisaged after the RI as more 15m will be deployed as working cap

Maybe they have concern with gearing but as long as cash flow is able to service debt interest, I dont see a problem here

Actually from what I see its better not to list in Spore because Pworth has to sell 30% of GSR to public thus making it a holding company...well, as for the acquisition cost, they can make instalments to pay as per agreement...since the future looks bright, it might as well keep it all for themselves

Given SC's approval for acquisition and RI and tomorrow's EGM, the deal is going to be implemented in July/Aug 2018 transforming Pworth into a pure timber play

Due to its high liquidity and pure timber play, I think it shld command at 15X per; rending it a 1.5b mkt cap counter

My source says 0.5 TP

In time Pworth will be the largest integrated timber play surpassing that of Taann and WTK...
Very synergy : Pworth has large timber processing facilities lying idle, whereas Rumpun has large timber concession to be harvested; they are a GOOD COMBO

With the impending RI and subsequent listing of GSR (wholly owned by Pworth) in Singapore bourse, the counter is poised for a rerating especially with latest 32800 M3 production figure for April 2018 !!

The FMU 5 timber concession was awarded on 1997; already 21 years...., so whats the issue ??

MULTIPLE PROPOSALS PRICEWORTH INTERNATIONAL BERHAD ("PWI" OR THE "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED RIGHTS ISSUE
PRICEWORTH INTERNATIONAL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description PRICEWORTH INTERNATIONAL BERHAD ("PWI" OR THE "COMPANY")

(I) PROPOSED ACQUISITION;

(II) PROPOSED RIGHTS ISSUE
We refer to the announcements dated 19 October 2016, 7 March 2017, 7 April 2017, 5 May 2017, 1 June 2017, 19 June 2017, 3 July 2017, 6 September 2017, 3 October 2017, 25 October 2017, 17 November 2017, 30 November 2017, 6 March 2018, 13 March 2018, 21 March 2018, 29 March 2018, 3 May 2018 and 15 May 2018 in relation to the Proposals (“Announcements”).

Unless otherwise defined, all expressions used in this announcement shall carry the same meaning as defined in the Announcements.

On behalf of the Board of PWI, RHB Investment Bank wishes to announce that PWI had on 18 May 2018 entered into an underwriting agreement and a supplemental agreement to the said underwriting agreement (“Underwriting Agreement”) with RHB Investment Bank Berhad, AmInvestment Bank Berhad and Mercury Securities Sdn Bhd (collectively, the “Joint Managing Underwriters”), as well as, Kenanga Investment Bank Berhad and MIDF Amanah Investment Bank Berhad (collectively, together with the Joint Managing Underwriters, the “Joint Underwriters”) to underwrite up to RM70.44 million or 1,408,831,716 Right Shares representing approximately 68.81% of the total issue size of the Proposed Rights Issue of approximately RM102.37 million subject to the terms and conditions of the Underwriting Agreement.

Details of the Underwriting Agreement will be disclosed in the abridged prospectus to be issued by the Company in due course.

This announcement is dated 18 May 2018.

1993: Malaysia 1300
2018: Malaysia 1850

1993: DJI 3500
2018: DJI 24500 !!

If Warren Buffet was in Malaysia, he would have lost his pants off ages ago...

Given that all SPAC in Japan and US have failed terribly decades ago, we should practice more
prudence and caution in these counters

Given that the most "successful" SPAC, Hibiscus , listed 7 years ago @.75 cost , is only trading at .82 +-, even after selling the free warrants to average down cost price, is still hard to make ends meet, if any, at the current price; considering 7 long years of opportunities lost !

Or they can be initial investors with cheap interest to subscribe @.5, sell the warrants to average down cost price, later opt to cash out @.5 + accrued interest

There are lots of yield investor who borrow funds with cheap interest, buy cheaply from the open market (less than .45), keep for 2 to 3 years, get back .5 + accrued interest

Post removed.Why?

Post removed.Why?

Again it doesn't speak well for the Hbiscus mangement's integrity; if the deal is on they shld announce on Bursa first hand immediately

To be corporate responsible, Hibiscus shld have made an announcement yesterday pertaining to North Sabah deal, whether it was deferred or got some technicalities to verify...
Moreover, they got the counter SUSPENDED much too frequent, stuff like acquisition/MOU or announcement of results of hydrocarbon shld not call for a suspension which is a waste of dealing time

For unlisted entity, the acqired PE should around 5 to 8 times and not 15x as espouseb by DK66

if no North Sabah deal, the price could dive to .7 +-

Has the North Sabah deal hit a snag ? Still no announcement...

How come no further news to conclude the North Sabah deal ? Today is last day to close the deal..

If QA fails, warrants will become waste paper...zero value..!

Look at poor Reach SH, instead of getting out with CASH .75 ++ (accrued interest), now the market price is struggling at .3..

Yes watchout ....as the current financial environment is not so rosy, major SH could opt for cash rather than stay invested with a newly acquired company..

Most likely on 9am Wed

I'm not shivering dude.. Just appealing for someone who was naive enough to impersonate with no motives except to brag...

To the true Dr Kenneth Pereira,
Please forgive your impersonator as I could see from his postings he was just an ordinary guy trying to act like big shot and he had had no ulterior motives or to deceive anyone here other than to brag and fool around and I found him to be more entertaining than a nuisance.
Please do not make a police report and let the matter rest here...Thank you and I think we have better things to do vis-a-vis Warrant listing and North Sabah acquisition

So next time around. we shld post threads that are more substantiated

And also. i3 is not official Hibiscus forum, anyone can give any psedonym they like !!

Hopefully the fake guy should be let off the hook as he had had no ill intention to deceive anyone of us here; he was just bragging and fooling around.... Poor chap, wish you luck

could the downturn of DJ be neutralised by the hike in oil prices ??

cooling, wow, again thanks

cooling, thanks..btw since when you heard KYY is collecting ??

cooling, what's the tp ?

I'm on board a large vessel...haha

KYY is a vegetarian, so HBGlob is his favourite darling..

what ?? KYY buying...??!! Sudden windfall ..!

Next week shld go beyond .5
Annualise the profit shld reap in 50m p.a., peg it at conservative 10x PE shld translate into RM1 !!