the parties have agreed to implement the CB Programme which will provide P1 with an avenue to raise future funds up to RM1.65 billion based on the entitlement ratio of 60%, 25% and 15% in favour of Mobikom, SKT and Green Packet
tailwagsdog, there is no transaction today for sure.I think he meant yesterday. So every experts here, since the exact news is out, TP for everyone? haha..
haha avengers i bet you threw your holdings already..aiya..logical thinking, gp now has tm as it major partner although the deal is only for 300++million do you think gp will only stick around 60++? just by the name of TM ,GP worth at least 0.20 just with TM as its major partner la...
tailwagdog, with my holding do you think i am qualify as syndicate? haha you too overestimate me..sydicate we are talking tenth to hundred millions of cash la..i am just a small fish like many of you here..just that i like to swim alongside with them
hey, as from i heard clients, syndicates were chasing up to RM1.60 for coming 2 weeks. will lock in some lots no matter what it takes. no harm trying any price below its actual NTA fair value RM1.20
definitely good to buy and to hold for sometimes despite TM had so positive on this P1 and so many large project had secured. in long run RM2 above definitely would'nt be a problem..
All of you deserve to lose your pants tomorrow because none know how to read reports and blindly got led into a trap! Rm300 mil inject into P1 not paying single cent to GPacket. In return TM will loan GPacket RM200 mil. Well at least P1 survives, but the writedown of Gpacket billions of past investment into P1 has vaporized. The syndicates have been unloading shares to you naive speculators. Learn how to read and value stock pls.
TM acquiring P1 at rm350 mil for 57% values P1 about rm650 mil. Gpacket previous holding of P1 57% will dilute by more than half to 25%. So 25% of rm650 mil is about rm200 mil. That's the value of p1 owned by gpacket after this deal. It is a major gain for TM, but what other choice gpacket has? Alternative choice gpacket will be insolvent without this deal.
As I dissect the agreement more, after the deal gpacket will own 30% of P1 as it will take over Intel 5%. There seems to be a clause that gpacket and minority will have to loan back rm250 mil to P1 (presume frm the rm200 mil in the first place).
More digestion: All loan previously owed by P1 to Gpacket is already factored into the 30% post acquisition via IPCS. This deal is lousy, why Gpacket has to pay 8% interest for the rm210 mil loan, while Gpacket only received 1% for its upcoming rm250 mil loan back to P1? Pls note Gpacket will loan rm60 mil back to P1 after the deal, the rest of the rm210 mil will be used to settled other loan. I think Gpacket will be left with nothing after this except the solutions business and 30% non controlling interest in P1. What an epic failure for gpacket!
ocpd, as u hv said gp either tk this deal or face insolvency. So, lousy or not it's not like gp has a choice, does it? I don't think cc puan has got a lot of bargaining power, does he?
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tailwagsdog
267 posts
Posted by tailwagsdog > 2014-03-27 16:48 | Report Abuse
BuLLRaM, can you elaborate?
You mean you just sold GP @ 0.585 and WA @ 0.16 ?? HOW ??