Posted by Jon Choivo > 2018-10-28 01:55 | Report Abuse

Interesting, but a touch of a stretch.

The worry is you get stuck with a business you're not interested in, when most companies in bursa seem to having a fire sale.

Posted by Learner King > 2018-10-28 08:40 | Report Abuse

Shut up la stupid jon...don't make comments that u don't know

Posted by DK66 > 2018-10-28 09:32 | Report Abuse

I like to add a few of my observations;
1. If Rozali’s initial intention was to fully distribute all cash proceeds, he could have initiated a takeover offer where all shareholders get RM1.05 per share immediately. A faster and less complicated approach than creating a shell company to house the listing status.
2. A more logical rationale, other than ulterior motives, for such move is to retain the listing status for sale to gain extra dollars for shareholders.
3. Having Triplc going thru complicated restructuring instead of an outright takeover will place the shareholders in suspense. Judging from the price action of Puncak, shareholders likely become skeptical of the ulterior motive of the controlling shareholders. Uncertainties has caused some shareholders to sell out which has caused the price of Triplc to fall to RM1.50 at one point in time. This has created great opportunities for the insiders to accumulate at extremely low prices.
4. As only 90% of the proceeds are placed in a trust account with interest, the directors can still enjoy fat salaries doing nothing for the next 2 years.
5. With only less than RM70m in its Bank, Triplc is unlikely to be able to acquire any profitable business assets as required by PN16 regulation to stay afloat. RTO will be its only option which entails a general offer to all existing shareholders. All decisions will require 75% approval from shareholders. GO has to be done above the cash value to be successful. Thus, RTO, if any, will be beneficial to the existing shareholders.
6. Can its PN16 status be extended under the new PH government which promote clean and healthy practices? PN16 extension can only be granted if there is evidence of business dealings such as MOU.

Posted by davidkkw79 > 2018-10-28 10:31 | Report Abuse

Even LGE has told their friend not to invest in bursa stocks now, u buy what stocks in bursa also die.

Posted by teareader818 > 2018-10-28 10:34 | Report Abuse

Look for your own food. Why depend on sharks for food? Have you looked at the picture of a killer shark lately?

Posted by InvertInvestment > 2018-10-29 21:01 | Report Abuse

>Jon Choivo
You've got a point there. This is just a little punting amid global uncertainties :)

Posted by InvertInvestment > 2018-10-29 21:38 | Report Abuse

> DK66

Thanks for the input, it helps a lot:)
Looking for suitable RTO might lengthen the time span and thus increase the unpredictability of this arbitrage play..