No of shares 100% : 1,711,909,630 units
2%: 34,238,192 units


Tiah recent purchased in open market after MGO announcement.

6July - 2,500,000 units
9July - 1,360,400 units
10July - 200,000 units
11July - 300,000 units
12July - 500,000 units
13July - 800,000 units
16July - 1,300,000 units
19July - 2,000,000 units
20July - 1,999,800 units
23July - 500,000 units
24July - 2,363,700 units
25July - 2,000,000 units
30July - 1,500,000 units
1Aug - 2,500,000 units
3Aug - 1,000,000 units
7Aug - 1,265,800 units
8Aug - 1,500,000 units
9Aug- 1,500,000 units
10Aug - 1,500,000 units
13Aug - 1,500,000 units
14Aug - 1,500,000 units
15Aug - 2,500,000 units
17Aug - 7,500,000 units
20Aug - 9,084,200 units


Total: 48,673,900 units purchased or 2.84% based on total number of shares.


What i said is true, Tiah can continue to buy up to 2% during MGO period. In case MGO failed, Tiah unable to buy another 2% within 6 months for the next 1 year. Why? As this will trigger another MGO which is prohibited by rule & regulations.

RVI123, i can say that 90% do not have a patient to wait. They assume that after sell TA, they can use the capital to buy other counters, so that they can earn 5% a day or 10% a week. I cant make it, so that i choose to wait.

Never make the assumption that Tiah offers MGO price @ RM0.66, then the cap price is RM0.66. If you have this thinking, this will trigger you sell it below RM0.66. If you are holding TA shares now, you just need to do nothing and be patient wait the independent advisor report to be out end of this month. Remember, RM0.66 is the initial stage only. After Q2 and independent advisor report release, I personally feel that TA will trade above RM0.66.

Never underestimate with the comment of " not fair and not reasonable" from Independent advisor.

You do things when the opportunities come along. However, sometimes doing nothing is often the right thing to do. If you dont know whether you should hold it or sell now, you just need to do nothing.

My target price for TA is RM1.30 above, which is at least double of current price. It is OK to dream big. Don’t focus on short-term swings in price, focus on the underlying value of your investment...

Revised to RM0.80 probably will attract some shareholders to accept the offer, comes with a premium of 21%, this may help him to achieve 50.1%. Understand that RM0.80 is still far away from company NTA, and it is still sound unattractive. However, this may provide chance for some shareholders to exit the market.

I guess Tiah's final plan is to achieve minimum 50.1% of TA Enterprise shares, then make the MGO for TAGB, and delisted TAGB... How to achieve 50.1%? Definitely he need to revise the price to become higher. Offering RM0.66 is impossible to achieve 50.1%. By delisting TAGB, TAGB's public shareholding issue solved, Tiah own more than 50% TA assets, and TA remain as a listed company, win win situation for Tiah and long term shareholders.

Still have some wanna sell at 0.65, just wait and accumulate all from the sellers, no need straight away buy all at 0.655. Who is the buyer? Apparently from Tiah, it is good they sell it to Tiah rather than traders.

Looking the way how Tiah accumulate today, expected that the coming Q2 results will be extremely good.

Buy more than sell.

This coming 2 weeks the share price should maintain very well at @ RM0.65 or probably will go up to RM0.66 before independent advisor report is out. Why? For those who sold earlier, get the capital to invest other counters in the past will start to buy back from now onwards as they are afraid that it is too late to buy in when the independent advisor give the comment of "not fair and not reasonable". Don't forget the Hong Kong office sold at RM67million will reflected in this coming Q2 report.

Buyer 90% is from Tiah...

Hi Sslee, thank you for the information.

Hold it and wait for independent advisor comment " not fair and not reasonable", enjoy your Merdeka holiday, come back and enjoy the price surge.

On 24sept2014, QL tabled an offer of RM3.50 per share for the remaining 73.19% it did not own in Lay Hong.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1108517


On 10 Oct 2014, QL has triggered the MGO for Lay Hong after exceeding 33%.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1121001

During the MGO announcement date, QL owns 17,185,400 shares
http://www.bursamalaysia.com/market/listed-companies/company-announcements/2852089

On 9 Dec 2014 announcement, QL owns 19,338,900 shares.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/2882689

On 10 Dec 2014 announcement, Offeror did not achieve 50%
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1095321

The increase from 17,185,400 shares to 19,338,900 shares, which is more than 2%.

Singh1, after read the example above, you said Tiah only allow accumulate up to 2% within 6 months without having to revise the offer price seems to be not correct.

Copying again, it based on my own calculation date.


T: Announcement of take over.
T+21 (“D”): Last day to dispatch the offer document.
D+10: Last day to circulate independent advice circular and company’s BOD comments on the takeover offer.
D+21: Earliest day to close the offer (50% voting right achieved)
D+46: Last day for posting revised offer (if any).
Last day for closing of takeover offer if the acceptance condition is fulfilled.
D+60: Takeover offer close if the acceptance condition (50%) is not fulfilled


T: 2July2018
D: 20Aug2018 (SC have granted the extention, it should be 23July2018 if follow T+21)
D+10: 30Aug2018
D+21: 10Sep2018
D+46: 5Oct2018
D+60: 19Oct2018


Independent advice circular is going to release soon.
Let wait for comments "not fair and not reasonable" together! Hold tight guys:)

Don't speculate a lot this stock

RM0.30 very hard la

Nothing to be worry. Last few months Power Root boss also selling non stop and price dropped a lot, and company also registered losses in the quarterly report. Share price did not continue to drop, but make a quick reversal afterwards.

Look at the clp72 sharing:

Tew, who is an executive director of Pasdec, is proposing to pay 52.5 sen per share for the remaining 228.41 million shares, or a 57.05% stake, which has been deemed "not fair and not reasonable" by independent adviser Public Investment Bank Bhd (PIVB).

If you worry that TA share price will become lower if MGO failed, then u must take a look of Pasdec share price right now, it is trading above RM0.525 after independent adviser comment. Don't forget, disposal of HK offices will be reflected this coming quarter report. They are many good news on the way and everything comes to you at a right time. Stay patient, and trust your journey.

No of shares 100% : 1,711,909,630 units
2%: 34,238,192 units


Tiah recent purchased in open market after MGO announcement.

6July - 2,500,000 units
9July - 1,360,400 units
10July - 200,000 units
11July - 300,000 units
12July - 500,000 units
13July - 800,000 units
16July - 1,300,000 units
19July - 2,000,000 units
20July - 1,999,800 units
23July - 500,000 units
24July - 2,363,700 units
25July - 2,000,000 units
30July - 1,500,000 units
1Aug - 2,500,000 units
3Aug - 1,000,000 units

Total: 20,823,900 units purchased or 1.21% based on total number of shares.

It is Insas's shareholders lose if Sslee keep the questions short in AGM. For me, he represents minority shareholders, good job bro...

We should feel proud and lucky if Sslee invested the same company with you all.

We need a person like Sslee to ask many questions to the board, so that all attendees can benefit on that.

TA1 & TA2 landbank is like Singapore orchard road. Once sold,is irreplaceable. TA is different like other developers, they are more focus on recurring income.

The retailers who want to sell at RM0.655 will definitely become lesser and lesser. If MGO @ RM0.66 failed, price almost confirmed going up steady without much resistance. Why? Because they sold cheap to Tiah already. Tiah will not going to dispose any shares in an open market. For those who refuse to sell now mostly want to see the price closed to its intrinsic value.

The proposed merger of RHBand AmBank last year, the deal came to one time price-to-book (P/B) value for both banks.

The last major merger and acquisition (M&A) in the stockbroking industry was about 4 years ago when Affin acquired Hwang-DBS Investment Bhd at 1.3 times P/B.

Market said that Kenanga is going to buy Inter-Pac stockbroking assets at RM142mil, but Inter-Pac net value assets at RM100mil, which valued at 1.42 times P/B.

Accept the MGO @ RM0.66? When you referring to above information, i believe i dont have to tell you the answer already.

No of shares 100% : 1,711,909,630 units
2%: 34,238,192 units


Tiah recent purchased in open market after MGO announcement.

6July - 2,500,000 units
9July - 1,360,400 units
10July - 200,000 units
11July - 300,000 units
12July - 500,000 units
13July - 800,000 units
16July - 1,300,000 units
19July - 2,000,000 units

Total: 8,960,400 units purchased.

@singh1

You commented that Datuk and pac members have 33%. He is allowed to accumulate up to 2% within 6 months without having to revise the offer price. Where you read this information and can you share with me?

http://winvestglobal.com/v2/yingcaijing-july-keith-lim/
I am referring to the above link i posted.

问：什么状况之下触发收购条例 – Take-Over-Code？
答：1.大股东持股比例增至超过33%。（或）2.大股东持股比例介于33% – 50% 之间， 且在半年内增持了2%以上。

问： 在献购过程进行中，收购者可以在公开市场上增持？
答： 可以，但得注意的其买入价。若其买入价高于献购价，收购者得更改及提高其献购价为收购者最后的最高交易价。（这也解释了为什么献购价只会往上调高）

问： 若献购最终失败，收购者会怎样？
答： 收购者在一年内不能再提起同样的收购。同时也不能在1年内增持至触发另一个强制性收购。


Based on my understanding, Tiah can continue to buy TA shares in the open market and not just limited to 2% during this offer period. If he buy RM0.66 above, he definitely need to offer the highest price to us. Let say MGO failed this time, then Tiah cannot buy more than 2% shares within 6 months (Currently, Tiah is holding 33% above, if Tiah acquires more than 2% within 6 months, it will trigger another MGO, which is not allowed by law)

Correct me if i am wrong. Thank you.

Tiah will get another 25% to 40% shareholding if take TAGB private, but Tiah will get 60% of TAGB if take TA private. TA holding 60% of TAGB.

@singh1, we are here to sharing and caring each other :)
@ironcrowz, if the independent come out with "very attractive offer" comment, i will be the first one to report SC and question thier integrity of the report. They can only give "very attractive offer" suggestions provided TA Enterprise no more landbanks, negative ROE, PE more than 20, all hotels occupancy below 50%, without cash cow biz - TA securities, property projects launched with take up rate less than 40%. However, the TA Enterprise current situation is very far different from given example above.

What is Tony Tiah’s plan for TA Enterprise?

http://www.theedgemarkets.com/article/what-tony-tiahs-plan-ta-enterprise

There are a lot of famous Investment quotes in the world. Today, i want to emphasize on this: Investing should be more like watching paint dry or watching grass grow. I treat TA as a grass and wanna watching my grass to grow for the next 3 months. How about you my friends?

Friends, remember

WHAT HAPPENS WHEN THE MGO RULES APPLIES?
The offer price shall be the higher of the highest purchase price paid by the offeror and parties acting in concert or the volume weighted average traded price (VWAP) of the offeree for the last 20 market days prior to the triggering of the mandatory offer obligation.

RM0.66 is the highest purchase price paid by Tiah for the last 20 market days prior trigger the MGO. If we know this rules applies, shall we still blame on the RM0.66? No! Just hold it like Jackkin and follow Calvin's advice.

As at 17Apr2018, number of shareholders: 29,068

http://www.sinchew.com.my/node/331086

Please read to get yourself familiar about MGO

http://winvestglobal.com/v2/yingcaijing-july-keith-lim/

http://aer.global/topic-20-circumstances-when-a-listed-company-is-required-to-conduct-a-mgo/

If Independent Advice Circular comment: "very attractive and minority shareholders should accept the offer" and Tiah unable to achieve to 50%, then i agree that share price will tumble. However, i know the report will not ask shareholders accept the offer...what does it mean? Share price is deeply undervalued...Cheers.

TheContrarian, i have a different point of views. Let say initial offer price is RM1.00 and if Tiah unable to achieve 50%, then i agree that people will dump TA shares. However, the offer price is RM0.66, downside is very limited.

**Latest**

T: Announcement of take over.
T+21 (“D”): Last day to dispatch the offer document.
D+10: Last day to circulate independent advice circular and company’s BOD comments on the takeover offer.
D+21: Earliest day to close the offer (50% voting right achieved)
D+46: Last day for posting revised offer (if any).
Last day for closing of takeover offer if the acceptance condition is fulfilled.
D+60: Takeover offer close if the acceptance condition (50%) is not fulfilled


T: 2July2018
D: 20Aug2018 (SC have granted the extention, it should be 23July2018 if follow T+21)
D+10: 30Aug2018
D+21: 10Sep2018
D+46: 5Oct2018
D+60: 19Oct2018

According to Sslee information,

D+10 = 30Aug2018
D+46 = 15Oct2018

Let say offer price revised (if any), estimated in Early Oct18. Why? Documents dispatched by 30 August 2018, people need time to read. Expected the response rate very low, then Datuk mostly will revise it again. Just wait another 2 to 3 months laa...It is worth to wait.

Anyhow, i dont have to read the report already gotten the answer.

The answer is "not fair, not reasonable", reject the offer :)

Sslee Dear all,
The important time-line as follow:
Day
T: Announcement of take over.
T+21 (“D”): Last day to dispatch the offer document.
D+10: Last day to circulate independent advice circular and company’s BOD comments on the takeover offer.
D+21: Earliest day to close the offer (50% voting right achieved)
D+46: Last day for posting revised offer (if any).
Last day for closing of takeover offer if the acceptance condition is fulfilled.
D+60: Takeover offer close if the acceptance condition (50%) is not fulfilled.

So make your informed decision after reading the Independent advice circular and Company’s BOD comments.

Thank you
05/07/2018 17:58

Independent Advice Circular to be submitted by 20 August 2018 and dispatched by 30 August 2018.

After the independent advice circular released out with comment "offer not attractive", is a time to reward patient shareholders.

Accept @ RM0.66 or sell below RM0.66 is like you own many assets and hotels in the past, and you have spent a lot of capitals to build up Trump international hotel in vancouver, and dont forget that you also spent for hotels refurbishment last few years. All the projects ran smooth and was completed last year. From there, we anticipated that will bring more recurring income to you from now onwards. Suddenly a guy ask you sell him at the lower price. Before you sell, did you think that the costs to build up this Trump hotel and hotels refurbishment that you have paid in the past? If you want to sell right now, why you need paid so much money in the past? It is a time to reap the profit, not a time to get out now unless the price is very attractive.

TA Enterprise sold Hong Kong office units last month, and this will reflected Q2 report. The best is yet to come. Please enlighten me why i need to sell below RM0.66 or accept the cash offer @ RM0.66. Again, TA performance is getting better and better, the best is yet to come.

free2invest, dont forget continue to queue buy order @ 0.65 tomorrow :)

For those who queue @ 0.66 or direct sold @ 0.655 lazy to wait and fill out the offer form. For those who buy right now confirm will wait the offer price to revise higher again.

free2invest, according to T+4, believe no much contra players already. Yes, just be patient to queue. Let say can't match also no problem,

free2invest, i still remember :) Yes, the number of shares have changed, and i never dispose any shares. I am happy to hear if your number or shares that same level or higher than me. We are in the same boat, you continue to buy 20k shares prove that you have a confident on this company. I will reject the RM0.66 offer to prove that i have confident the price will continue to trend higher. RM0.66 is very unattractive, some have sold RM0.65 ~ RM0.66 in the open market, i dont know what is the rational behind. I guess mostly are contra, impatient players, those who purchased below RM0.60 to lock profit, and players who sold it and try get the funds to speculate other counters first.

free2invest, gooooood job :)