Latest announcement - 6 July, 2018

As at to date, the Company has not received any proposal from the Joint Offerors and the Company has not formulated any rectification plan to address the shortfall in the required public shareholding spread. The Company will continue to make further announcement in relation to the status of its efforts to comply with the Public Spread Requirement in compliance with the Listing Requirements

& Point to ponder: "the Company has not received any proposal from the Joint Offerors"

& This matter is not emphasized in the regular announcements relating to PUBLIC SHAREHOLDINGS SPREAD as in the case of Karabunai or petaling tin since the closure of their last take-over offers.

& It seems that Hovid will continue to await patiently .............. ............

A clear heading:

"Inability to complete a Qualifying Acquisition ("QA") within the Permitted Timeframe"

and under a bold sentence

" regret to inform that the Company will not be able to complete the QA within the Permitted timeframe"

Well, what else can one expect?

warrants are now confirmed worth less than toilet paper.

where liquidation costs can be fully covered by non-trust monies, full repayment of trust monies to interested shareholders is possible.

say 0.46 x 1.03% x 1.03 % x 1.03% = 0.502 (for complete 3 years period)

where liquidation cost has been accounted for and there is still residual value left from non-trust monies, then all shareholders shall be entitled to receive it.

The uncertainty : How much non-trust monies will be left upon
commencement of the liquidation process??

Biloceli, i wish that they will pay 38 sen in their bids, if any, to privatize Hovid. Generally, Investment Banker will advise on the reasonable exist price.

In the take-over Notice, Joint-offerors have made it :-

(1) Under bold letters and a single sentence paragraph, a crystal clear that

THE JOINT OFFRORS DO NOT INTEND TO MAINTAIN THE LISTING STATUS OF THE OFFEREE

(2) In the event their final holdings is between 75% and 90%, they "MAY" procure HOVID to take requisite steps to withdraw its listing status in compliance with Para 16.07 of the Listing
Requirements

Under scenario (2), If the offerors do not privatize the company, then their intention is not consistent with (1) above. Will it be tantamount to a misleading representation by them ?

It is probable that they will announce appropriate delisting measures, hopefully before the extended dateline, 10 July, 2018 in order to meet the Public Spread Requirement.

Past UNFORTUNATE encounters with delisted shares told me that it is too RISKY AND NOT WORTHY to wait and stretch your neck to expect residual fruit, if any. Once outside the radar of bursa and sc, DON'T expect Major shareholders to share with you any remaining cake.

Why David/Astoria let all their wb burnt ?
- better utilize conversion monies 57M (317M x0.18) to re-purchase remaining minority shares ?

- To undertake another take-over/delisting exercise, amount need to fork out:-

say reasonable exit price fixed at 0.38,

173 M x 0.38 = 66 M (100% wholly privatized)
90.4 M x 0.38 = 34.M (90% threshold to withdraw listing status)

Perhaps, that is why wb not exercised ?

Hovid-wb expired on 5.6.2018
Last listing date of converted wb: 19.6.2018 (8 trading days for conversion)

Just wonder whether David Ho/Astoria have exercised their wb ???

Per wb-holders circular (3.5.18), outstanding wb = 322M
Exercised wb (3.5.18 to 18.9.18) = 5M
Balance held by David/Astoria = 317M ?

If this 317M exercised,
% of holding by David/Astoria = (653 + 317) / (826 + 317) = 84.86% (Increased from 79%).

Company announcement (27.2.2018) - an extract

Under Sections 4.1(ii) and 4.1(iv) of the Offer Document dated 30 October 2017, the Joint Offerors have stated that they do not intend to maintain the listing status of Hovid and may procure Hovid to take the requisite steps to withdraw its listing status from the Official List in accordance with Paragraph 16 of the Listing Requirements (“Joint Offerors’ Intention”).


Company announcement (21.5. 2018 ) - an extract

As at the date of this announcement, the Company has not received any proposal from the Joint Offerors and the Company has not formulated any rectification plan to rectify the shortfall in the Public Spread Requirement. The Company will continue to make further announcement in relation to the status of its efforts to comply with the Public Spread Requirement in compliance with the Listing Requirements.

To-date, Company is awaiting......... proposal from David/Astoria to privatize ?

single tier dividend 0.5 sen = 10% of proposed 5 cents by interested shareholders. A consolation prize ??

boleh jadikah he and najib are put in a same cell ?

PH has + and -
BN has + and -
A says + 4 PH
B says + 4 BN
Don't waste our time here, go cast our votes on 509

Break down of total distributions paid to trust (eligible) shareholders

(1) Interim distribution: RM 0.47988 (paid 31.10.2016) represents 97% of trust monies

(2) Monies withheld : RM 0.01484 represents 3% of trust monies
(for Liquidation Purpose)

(3) Final distribution: RM 0.0115 (to be paid on 30.4.2018) represents 2.325 % of trust monies

Total distribution (1) + (3) = 99.325%
(For every 1,000 shares , total distribution = RM 491.38)

- In other words, liquidation cost borne by trust monies = 0.675% (less than 1% of trust monies)

- Just wonder, any money left to be paid as residual distribution to all shareholders ??

Bad news !!!

AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN

- MATERIAL UNCERTAINTY RELATED TO GOING CONCERN

The Board of Directors of YKGI Holdings Berhad (“YKGI” or "the Company") wishes to announce that its external auditors, KPMG PLT have issued a statement of “Material Uncertainty Related to Going Concern” (“Statement”) in respect of YKGI’s Financial Statements for 31 December 2017 (“FS2017”).

to-day vol: 22M shares, likely dump by insiders n happily bot by ?? . what a con stock !

Re: PROPOSED ACQUISITION AND PROPOSED MGO

WORTH TO TAKE NOTE - Announcement made by the acquirer (Hap Seng) - 10 April 2018

As set out in Sections 1.1(ii)(d) and 1.2(ii)(d) of the Appendix, one of the conditions of the SSAs is the notification by HSPB in writing of the acceptance of the results of the due diligence of KHB (“Due Diligence Condition”). In relation to this, on behalf of the Board, Maybank IB wishes to clarify that HSPB has the right to declare the Due Diligence Condition not met if there are adverse findings such as the following:

1. the final professional valuation of all the plantation estates, palm oil mills, refinery, biodiesel plant, jetty, fertiliser plants and/or offices of the KHB Group is lower than the indicative valuation by the Valuer; or
2. the information disclosed by the Vendors about the KHB Group (including its assets and liabilities, whether actual or contingent) is inaccurate; or
3. there has been non-disclosure of information about the KHB Group by the Vendors; or
4. there has been a breach of any laws, regulations or contract by the KHB Group; or
5. there are adverse findings from the financial due diligence; or
6. there are adverse findings from the legal due diligence; or
7. there are adverse findings from the operational due diligence.

For the avoidance of doubt, the above clarification does not represent any change/variation to the terms and conditions of the SSAs.

In addition to the above, we wish to reiterate that the Proposed Acquisition is conditional upon among others, (i) the approval by the shareholders of HSPB and (ii) the Proposed MGO being approved by the shareholders of HSPB.

This Announcement is dated 10 April 2018.

Point to ponder
- Any one of the conditions listed from 1 to 7 may jeopardize the SSAs

Company should request for suspension prior to commencement of trading at 9:00 am. Just too bad, I feel it is done on purpose.

Based on the latest QR (as at 31.01.2018) announced last night

quoted in 000'
Share capital 70,000
Share premium 25,745
Revaluation reserves -
Translation reserves 614
Retained profits 2,281
Total equity attributable to equity holders of the parent 98,640

The above financial position is prior to payment of 45 cents special dividend (63 M).

Companies Act 2016 Section 131(1) says
- Distribution to shareholders could only be made out of PROFITS.

Anyone can assist to enlighten:-

How the company is able to comply with the said Section. TQVM

nta = 0.7046 B4 special dividend
Ex-dividend, nta = 0.2546

Net cash (after deduct dividend & liabilities) = 109 M - 63M - 41M = 5M
cash per share =5M/140M = 0.035 (3.5 cents) only

- No wonder not fall under PN 16 (cash rich Co.)
- BOD give misleading picture in its circulars to shareholder ???
- Why no subsequent annoucement to update shareholders ??

An extract from the Edge report 1 Nov. 2017

http://www.theedgemarkets.com/article/lim-kang-hoo-suffers-setback-iwhiwcity-merger

Reported as below:-

Astramina Advisory Sdn Bhd has been appointed as the financial adviser for the proposed acquisition.

When contacted, the advisory firm’s managing director Wong Muh Rong said her team had evaluated the pros and cons of the proposed deal thoroughly.

“Before proceeding, we got all the support of all [major] shareholders and directors for decisions made,” she added.

" the support from all major shareholders " - not sure
who are they refer to ? Whether any of them can vote in EGM ?

Announced on 23/1/2018

i) Payment date of the second instalment of Lot 1-A BPP in the sum of RM46,324,363-86 be extended from 15 October 2017 to 15 March 2018; and

(ii) Payment date of the third instalment of Lot 1-A BPP in the sum of RM46,324,363-86 be extended from 15 January 2018 to 15 April 2018.

- It seems that the company keeps silent from 16/10/17 to 22/1/2018,
without disclosing the non-receipts of 2nd & 3rd instalemnts, which fall due on 15/10/2017 and 15/1/2018 respectively

Be patient, coming soon. u won't miss it.

2nd alternative : wait for EGM result n then decide accept or not. Payment will only commence after the offer becomes unconditional (likely after EGM)

Extended payment date of 2nd instalment (RM 46 M) by Greenland Terbau is to-day. Hopefully, the payment is in time.

An extract from the latest 3rd QR (7/12/17)

Commentary on prospects

The Board anticipates the challenging environment to persist in the short and medium term .However,the Board is currently considering various strategic and operational plans to mitigate the impact and improve the competitive position of the Group.

- sounds not that encouraging
- probably coming 4th QR will incur loss again

For the past 1 year,
eps 0.049 to 0.047
nta 0.24 to 0.28
turnover little change from 139 M to 145 M
Mother rose from 0.55 to 1.95 prior to Ex-date on 19/2/18
Better stay away,
Chance of losing money > chance of making money

Until deal is completed, 750m dekat dimata, jauh dipegang

Ya, after deducting 46M cash reserved for dividend and taking into a/c amount of liabilities, the end result probably gives rise to a cash ratio below 70%

When can proposed distribution (special cash dividend) be fully paid out??

Proposed special dividend = 63M or RM 0.45/share

Circular to shareholders say,
- The actual amount of dividend to be distributed will be determined at a later stage
- The quantum of special cash dividend to be declared is dependent on the availability of sufficient distributable profit..

Upon completion of disposal,
- Other & retained profit = 35.4 M , only enough to pay dividend of RM 0.25/share

So does it mean that full dividend of RM 0.45 will be paid over a period of time ?? any capital reduction exercise ?? Final /actual dividend no more than RM 0.25/share ??

To await further announcement by the company

yes, Berjaya, scomi after conso 0.35. After Ex warrant,, adjusted price for conso scomi shd be lower than 0.35

FOR SHARING PURPOSE ONLY

Let say scomi Ex warrant (1 for 2) at to-day price, RM 0.175 per share
For illustration purpose, we have RM 3,500 at start

Option 1, buy Scomi

B4 Conso, 20,000 shares (RM 0.175 x 20,000) or

After Conso/Ex warrant, 10,000 shares,(RM 0.350 x 10,000) + 5,000 free warrants

Option 2, buy Scomien at to-day price

RM 3,500 / RM 315 = 11,111 shares, in exchange for, AFTER MERGER

11,111 x 10/7 = 15,873 Scomi + 1,587 free warrants


Now, say adjusted price for scomi goes this way,

RM 3,500 = 10,000 shares x 0.27 + 5,000 x 0.165

(on the basis :warrant worth 0.6 of mother share - on high side?)

Option 1, market value remains = RM 3,500

Option 2, market value = 15,873 x 0.27 + 1,587 x 0.165 = RM 4,547


So at scomi price of 0.175 now

1 scomien worth = RM 4,547 /11,111 = 0.41 ( 30% upside gain ?)



Assumptions( B4 scomi conso/Ex warrant)
Scomi - 0.175
Scomien - 0.315
Scomi warrant -worth 0.6 of scomi share
No gain/loss after Scomi goes Ex warrant
- any deviation in the assumptions will render different value for scomien share B4 merger

Note: scomien shareholders will likely receive their conso scomi shares probably by end of February ( scomien share to be suspended shortly B4 entitlement date) while scomi share remains trading in market (no suspension).Both scomien and scomi shareholders will receive free warrants probably around same time by end of february.


*****THE ABOVE IS NEITHER A BUY NOR A SELL CALL *****

As announced by the company to-night

On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the Company had on 4 January 2018 written to the Board of Directors of Fu Yu Corporation Limited to request for an extension of time from 5 January 2018 up to 19 January 2018 for LCTH to respond to Fu Yu Corporation Limited with its decision as to whether to take steps to implement the Proposed SCR and to recommend the Proposed SCR to the shareholders of LCTH for consideration.

- hopefully, Fu Yu will agree to the proposed extension of time

Freezing of Lower Limit Price for PERDANA

- for such period as specified by the Exchange (Bursa Securities)
- watch out for further announcement

Beware of another anzo in the making.

For Sharing purpose only,

Where there is No Compulsory Acquisition (exclude take-over offer or corporate proposal), then

For a company to make request for withdrawal of its listing status,
Bursa Securities may ensure that compliance be made with Listing Requirements Para 16.06, under which a dissenting holder is given an exist offer (the last resort for him to part his share, failing which he will be holding unlisted share)

Listing Requirements can be read from Bursa Website - Regulation

With reference to circular issued to shareholders dated 20/4/2016, prior to delisting of the company

The following are some relevant extractions for perusal:

(A) RATIONALE OF THE PROPOSALS (Page 5)

In view that there is no assurance that the Company will be able to regularise its PN16 condition in the near future, and it has been more than one (1) year since the receipt of proceeds from the Major Disposal, the Board is of the opinion that it is in the shareholders’ interest to distribute the Company’s assets back to its shareholders. The Proposed Distribution represents an expedient way to distribute substantially all the Company’s cash reserves back to its shareholders.

(B) IMPLICATION OF THE PROPOSED DISTRIBUTION AND PROPOSED DELISTING TO THE
SHAREHOLDERS OF ABRIC (Pages 6 & 7)

(i) In the Initial Announcement, it was announced that upon completion of the Proposed Distribution
and the Proposed Delisting, the Board intends to sell the remaining assets of ABRIC and
voluntarily wind-up ABRIC. To clarify, the said intention of the Board is preliminary, and shall be
subject to various aspects and the actual circumstances given at the relevant time, including,
without limitation, any present or future obligations or viable opportunities presented or offered to
the Company which the Board shall take into consideration before deciding on the appropriate
measures to be undertaken by the Company post implementation and completion of the
Proposals. Such measures may or may not include, amongst others, the liquidation or sale of the
Company. The approval of shareholders and/or the necessary regulatory authorities will be
sought, if required.


(ii) At this point in time, the Board has not made any plans for ABRIC going forward. The Board will
only be in a position to make plans to go forward after the shareholders’ decision for the
Proposals is known. Assuming the Proposals are approved by shareholders and implemented
and completed, the Board shall consider, among others, the market conditions and the options or
opportunities available to ABRIC at that material point in time which could include the orderly
disposal of the remaining assets in the Company.

(iii) Should the Board decide post-completion of the Proposals that liquidation or winding-up of the
Company is the most appropriate measure to be undertaken by the Company, the Company will
dispose of and realise the assets (in particular, the assets set out in Section 5(a) above) of the
ABRIC Group before initiating the winding-up procedures in accordance with the Act. Subject to
the orderly disposal and realisation of the assets of the ABRIC Group, the Company would
thereafter be wound-up voluntarily by way of special resolution.

(iv) In the case of a voluntary winding-up, the Board would make a Declaration that ABRIC can pay
its debt in full within a period of twelve (12) months from the date of commencement of windingup
by lodging the Declaration with the Registrar of Companies in accordance with Section 257 of
the Act. The Board must convene an EGM at a date not more than five (5) weeks from the date
when the Declaration is made, and the resolution for voluntary winding-up and the resolution for
appointment of a liquidator will be tabled to the shareholders for approval at the said EGM to be
convened. Upon approval of the shareholders, the liquidator will notify his appointment to the
relevant parties and commence the liquidation process by winding-up the affairs of the Company,
and making the relevant payment and distributions accordingly. The entire process of members’
voluntarily winding-up could take up to a period of twelve (12) months.


In view of the latest development, my doubts on the main intention of the BOD in the said circular:-

(1) Whether are there any intention on the part of BOD to mislead shareholders into believeing
that the company will be winding-up post completion of proposals.
(2) Whether acquisition of proposed businesses fits in the exemption clause (B) (i) above

What say u

All minority shareholders shall unite together to vote against new businesses. Hopefully , Mr. Pui , the largest shareholder (per 2015 AR) can help to protect our minority interests.

In bearish market,

- Return of capital is more important than return on capital

To determine whether the shares will be returned or not, one needs to know:-

- On or before closing date, whether the offer becomes unconditional?

If yes,
- those who accept the offer will be paid the offer price.
- Delisting issue will only then set in.

If No
- shares will be credited back to their A/cs


-

Khoo at the age of 77 is the oldest among all the directors. No surprise if he opts for early retirement or less involvement in management of the company.

BREAKING NEWS for shareholders

EGM scheduled to be held on 27th December, 2017, Wednesday, 10 am
at Bukit Kiara, Kuala Lumpur

Further details, please contact the Registrar Tricor Investor Tel:03-27839299

Just too bad, price can't go up because the market say so.

It seems that with the incorporation of fair value gain of 315m (B4 deferred tax effect), back dated for year ended 31.12.2015, the question of whether PN 16 is triggered upon disposal of puncak niaga (M) S/B in year 2015 is no longer an issue.

To capitalize on the RM 1.50 offer price, One need to watch out for:-

- EGM to be convened by ekovest
- Further details on the Terms and conditions of the conditional
voluntary take-over including listing status, Options available
to shareholders, a new higher or lower offer price (proposed by
Ekovest) etc.

Latest announcement by EKOVEST to-night

IWH had done its part.

Ekovest says:

the Board had today formalised the establishment of a due diligence working group for the relevant documentation and arrangements as well as due diligence matters in relation to the Proposed Acquisition.

So till now, proposed take-over of IWCITY by EKOVEST proceeds as planned .

IWH had done its part.

Ekovest says:

the Board had today formalised the establishment of a due diligence working group for the relevant documentation and arrangements as well as due diligence matters in relation to the Proposed Acquisition.

So till now, proposed take-over proceeds as planned .

wow, 1.29, a 5-year low now!!

A definite "NO" in to-day EGM

RE: TO-NIGHT ANNOUNCEMENT

Proposed Disposal of 49% out of 100% equity in Zecon Medicare Sdn Bhd, for RM 155 MIllion
A detailed announcement will be made in due course once the agreement has been signed.


THIS IS NOT A BUY OR SELL CALL
DISCLAIMER: I OWN NO STOCK IN THIS COUNTER

FOR YOUR INFORMATION ONLY

22 September 2017

http://www.theborneopost.com/2017/09/22/petra-jaya-hospital-contractor-gets-lad-for-project-delay/

16 October 2017

http://www.theborneopost.com/2017/10/16/petra-jaya-hospital-to-be-ready-june-2018-minister/

An extraction from 2017 annual report - Page 6

Petra Jaya Hospital

The project “Cadangan Pembinaan Hospital Petrajaya (300 Katil), Petrajaya, Kuching, Sarawak (Reka dan Bina)”
was awarded to Zecon Berhad for a sum of RM495 million. The contract includes survey, design and quality assurance in their undertaking and to complete the proposed project in 42 months. The revised completion date is 20 June 2018.
The scope of works for the projects includes the construction, completion, testing and commissioning of all requirements and structures as stated in the scope of works and specifications including but not limited to all necessary temporary works, site clearing, earthworks and excavations, foundation, structural, civil works, architectural works, interior works, landscaping works, mechanical & electrical works and other relevant utilities.

Wow ! proposed distribution RM 1.95 per share, ung chi Li chee hai mai cha tou poa.
what say you

PN 16 Company. (cash rich) - Its destiny in Bursa Malaysia

Triplc has yet to trigger PN 16

FOR SHARING PURPOSE ONLY
DISCLAIMER:: NOT A BUY OR SELL CALL

Year/ Counter / Cash per share / Dividend paid /Regularisation plan
2013/ Gwplastic / RM 1.20/ RM 1.19/ Successful
2014/ Jobstreet / RM2.70/ RM 2.65/ Successful
2014/ Abric / RM0.80/ RM 0.75/ Aborted (delisted)
2017/ Tenic / RM 0.60/ RM0.49/ Successful
2017/ Rev / RM0.50/ RM 0.44/ Pending

To err is human. We are never too late to learn.