OPUS n PROPEL need shareholder approval. now that the share price hit RM3, will the acq be affected since the shares issue for acq was to be priced at RM2.... anyway, I sold my shares at 2.94 at the closing bell..
Faber Group Bhd (FABER) - Not Rated-------------KENANGA 21//03//14
Yesterday, FABER’s share price surged 5 sen to settle at RM2.80. Despite lacking high trading volume, we reckon that FABER’s technical picture looks interesting at this juncture, as its share prices have been stuck in an upward sloping trend channel between RM2.35-RM3.05 over the past four months. We believe that now is a good opportunity to buy into the stock as it is trading near the channel support level. In fact, yesterday’s strong move has resulted in a decisive break out of the 20-day SMA resistance level, offering a near-term bullish technical outlook. Indicator-wise, the MACD has also crossed above the zero-line, and this signals that buying momentum is strengthening. We suspect that follow-through buying interests are likely to surge today, and we look forward to a retest of the RM3.10 channel resistance level. Outlook Bullish Key Resistance level RM2.95 (R1) RM3.10 (R2) RM3.18 (R3) Key Support level RM2.76 (S1) RM2.70 (S2) RM2.63 (S3) Strategy Not Rated Current Price RM2.80
Faber Group Bhd (FABER) – Not Rated--------------KENANGA TODAY
FABER has been trapped in an uptrend channel for the past 9 months. Yesterday, the share price surged 5 sen (+1.89%) to settle at RM2.70. Despite a lack of high trading volume, we believe that now is a good opportunity to buy into the stock as it is now trading near its channel support level. In fact, key momentum indicators are hooking upwards, suggesting buying momentum are picking up. Should buying interest continue to stay strong over the next few days, the share is likely to stage a rebound to retest its channel resistance level at RM3.15 (R3). Traders who look to buy into the share should target to take profit 3 bids below this level at RM3.12, while employing a strict stop-loss at RM2.63. Outlook Bullish Key Resistance level RM2.79 (R1) RM3.00 (R2) RM3.15 (R3) Key Support level RM2.66 (S1) RM2.53 (S2) RM2.41 (S3) Strategy Not Rated Current Price RM2.70
Faber acq frm its parent circular just out. The purchase consideration will be part csh and part shares. Price of shares were at RM2. Will this affect the faber share price? UEM shareholding will increase to >70% from 34%... Will tabung haji agree since its shareholding drop from 12% to 6%? Interesting to watch the price action on faber next week.
RM1.15B OFFER: Proposed acquisitions will enable group to expand AFM business
FABER Group Bhd (FGB) yesterday entered into a conditional share sale agreement with its single largest shareholder, UEM Group Bhd (UEMG), in relation to its proposed acquisition of Projek Penyelenggaraan Lebuhraya Bhd (Propel) and Opus Group BHD (OGB) from the latter for RM1.15 billion.
In a Bursa Malaysia filing yesterday, FGB said the proposed acquisition of 100 per cent equity in Propel for RM500 million will be satisfied by a combination of cash payment of RM250 million and the issuance of 125,000,000 new FGB shares at an issue price of RM2 per FGB share.
FGB intends to fund the cash consideration through internally generated funds and/or bank borrowings.
The breakdown of the source of funding will only be determined later, and, will depend on, among others, FGB’s cash reserves and future funding requirements.
The proposed acquisition of Propel is not expected to give rise to any additional financial commitment by FGB to put the operations of Propel on stream.
Meanwhile, the proposed acquisition of 100 per cent in OGB for RM651 million will be satisfied via the issuance of 325,500,000 new FGB Shares at the issue price of RM2 per FGB share.
The proposed acquisition of OGB is also not likely to give rise to any additional financial commitment by FGB to put the operations of the OGB Group on stream, FGB said.
As at April 18 2014, UEMG holds 124,467,925 FGB shares, representing 34.29 per cent equity interest in the latter.
Upon completion of the proposed acquisition of Propel, the direct shareholdings of UEMG in FGB will rise to 51.12 per cent, which will be an increase of more than two per cent within a six-month period.
Upon completion of the proposed acquisition of OGB, UEMG will further raise its direct equity interest in FGB at that point in time from 51.12 per cent to about 70.68 per cent.
Therefore, upon the share sale agreement becoming unconditional, UEMG and persons acting in concert with it, if any, will be obliged to undertake a mandatory general offer to acquire the remaining FGB shares not already held by them.
As it is not the intention of UEMG to carry out a mandatory offer on FGB shares, approvals for the proposed exemption will be sought from the Securities Commission.
FGB said the proposed acquisitions will enable it to expand its asset and facility management (AFM) business, which is now concentrated in the healthcare sector.
Upon completion, FGB will be transformed into an enlarged AFM company with expertise and presence in the healthcare, infrastructure and commercial sectors.
Importantly is that u invest in the promise earn money, growth, bright future campany. Forecast in 2014 Profit after tax is rm202.8 ( RM' m ) by MIDF. High pay DIvidend 7-9cent.
We wish to announce that FGB was informed on late evening of 26 June 2014 by the solicitors for Faber LLC, a subsidiary of FGB, that during the hearing held on 25 June 2014, the Al Dhafra Court ruled that the precautionary impoundment of the judgment sum of AED2,000,000.00 (equivalent to approximately RM1,749,310.00) is valid, and Faber LLC is required to pay the same.
guys I wonder... I have 400 shares of faber. in the recent dividen payment I only paid 37.50. but they announce 0.10sen right? please correct me im wrong.. tq
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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....
scott
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Posted by scott > 2013-10-10 18:15 | Report Abuse
I hope this share reach 2.80 next week ...