Posted by ledzepp > 2013-02-08 15:28 | Report Abuse

I don't think there's any land left behind PJ Hilton. 1b is a bloated evaluation

Posted by berid > 2013-02-08 15:28 | Report Abuse

substantial transaction.. gapurna will have certain % of mrcb share..
Kl Vin, not necessarily takeover. however, if it could fly the price to the sky, then it is a big angpow for all..
Gapurna had stated before, instead of go for IPO, they think better join MRCB.. already discussed for nearly 1year..

Posted by merlin > 2013-02-08 15:32 | Report Abuse

come on....ang pow na lai..

Posted by shahfar8 > 2013-02-08 15:38 | Report Abuse

when open up next week, hope can still below 1.30. at least we can grab sumtin..

Posted by Lawrence Kwan Vui Juin > 2013-02-08 15:39 | Report Abuse

deal with Gapuda!

Posted by Lawrence Kwan Vui Juin > 2013-02-08 15:42 | Report Abuse

estimate what price when resume?

Posted by peanut > 2013-02-08 15:46 | Report Abuse

hello guys..... ya hope can catch CW too.....

Posted by chleong > 2013-02-08 15:48 | Report Abuse

... by using the market capital divided the number of shares you get around 1.26 existing suspended price. assume you add 1B to the market capital will be 1.98(60 acre prime from garpuna who request 20% mrcb shares). i should be lower then 1.98. i don't know whether mrcb will issuee more shares.

Posted by BC475654 > 2013-02-08 15:49 | Report Abuse

No wonder this explain the sharp drop of 30sen within a month to push this share in exchange for land deal to fulfill Gapurna min.request for 20% stake in MRCB in exchange for 60 acres of prime land at the back of PJ Hilton.If based on 1.60 a month ago price Gapurna's stake work out to slightly above 18%,

Posted by chleong > 2013-02-08 16:04 | Report Abuse

... i didn't read the previous announcement, request for 20% in what form more shares dilution or from existing market volume. if 20%placement shares will be an increase another 793M shares at 1.26

Posted by Mat Cendana > 2013-02-08 16:06 | Report Abuse

It will depend on how much the MRCB shares will be valued at. Was this the reason for the slide?... that some interested party wanted MRCB's shares to be valued as low as possible for this deal? Wondering how the market will respond to the announcement - if it's positive, then my going for broke with the warrants will pay off. If not... well, that's how it goes with punting CWs.

Posted by limahcai > 2013-02-08 16:17 | Report Abuse

if punt CWs, then which CW u guys will looking for?

Posted by chleong > 2013-02-08 16:21 | Report Abuse

just cut & paste for members
Source: HwangDBS Research - 26 Nov 2012

The Edge Weekly reported that MRCB’s potential M&A with Nusa Gapurna (Gapurna) has hit a snag due to valuations or the rising share price of MRCB. It is believed that Gapurna would like to end up with a stake of at least 20% before pursuing with the deal further.

Recall the shareholders of Gapurna are Datuk Mohamed Salim Fateh Din (60%) and EPF (40%). The valuation for the 60-acres of prime land bank in Gapurna is a 40-acre land in Section 53, Petaling Jaya. The land is behind PJ Hilton and has a development duration of 15 years. Based on our conservative estimates, the 40-acre land could have a potential GDV of RM5bn assuming a conservative plot ratio of 5x and ASP of RM700 psf.

Based on the last closing price of MRCB of RM1.65 and assuming the land is injected into MRCB at RM1bn (high end), Datuk Mohamed Salim Fateh will only end up with a 18.2% while EPF’s stake will only be marginally diluted to 41% from 42% currently.

While we are positive on the land bank which Gapurna owns given the KL Sentral land bank is at its tail end, we think timing of the deal is key. In our view if the deal is executed prior to the outcome of the general elections, this would raise the risk premium for MRCB. We maintain our HOLD and TP of RM1.65 which is based on a 20% discount to SOP.

Posted by alexisvics > 2013-02-08 16:26 | Report Abuse

Ulala......This might be the long-waited ang pao. :) Here come the water snake.

Posted by berid > 2013-02-08 16:29 | Report Abuse

after MISC, now MRCB.. good angpow for me in FEB... might be last trade before give it a rest for GE..

Posted by Mat Cendana > 2013-02-08 16:31 | Report Abuse

@limahcai, I wrote something about its CWs a week or so ago. Try reading those. But note that it's just my opinion and evaluation... and I have been wrong so many times before. But generally, CWs are a game of momentum. When there's excitement about the mother, the CWs will go up much higher percentage-wise. As always, it's a question of timing. But with CN, I had decided to take a risk and jump the gun; buying when it was going down. Some punters prefer the other way i.e. wait for it to go up first before jumping in.

Posted by tonylim > 2013-02-08 16:33 | Report Abuse

Hahha, MC, was about to post calling for you.
Another loot come next trading session?

Posted by Lai Mun Hong > 2013-02-08 16:36 | Report Abuse

so will the price change directly when next trading day ?

Posted by Mat Cendana > 2013-02-08 16:40 | Report Abuse

I certainly hope so, Tony. I'm also eyeing Bursa-CZ again and hope to get a good buying price. But all these will have to be after CNY. I've gotten into a few positions from bottom fishing, hoping some sort of a rebound would bring in profits. But these are just small positions - am waiting to see how the market responds when the GE is finally announced.

By the way, Happy Chinese New Year to you and everyone here! Here's hoping to a good year ahead.

Posted by BC475654 > 2013-02-08 17:19 | Report Abuse

Mc.PlS refer to the "Latest Headlines"column on Gapurna deal dated 26/11.

Posted by Mat Cendana > 2013-02-08 17:52 | Report Abuse

@BC475654, That's the problem - I don't know whether the deal is "good" or "bad" for MRCB:-) Will have to see what the market thinks>

Posted by Risk Trader > 2013-02-08 18:01 | Report Abuse

Wednesday MRCB will open more than RM1.50.....those bought consider big Ang Pow for CNY....

Posted by berid > 2013-02-08 19:50 | Report Abuse

hurm.. i couldnt understand MRCB's proposal..

Posted by Kl Vin > 2013-02-08 20:23 | Report Abuse

70 lots of MRCB FREE TWO WARRANTS !! FIXED AT RM1.55 !!
BUT IS JUST PROPOSAL...NOT CONFIRM YET !

Posted by necro > 2013-02-08 21:15 | Report Abuse

Huh?dont understand...

Posted by fatty_tang > 2013-02-08 21:52 | Report Abuse

it's like share swap, MRCB issues new shares to Gapurna bosses in exchange of their companies. after wards, 2 free detahcable warrants as sweetener. from the looks of it, Rm1.55 per new share issue is certainly at a premium than the current market price. however, share price rise or not is another question.

Posted by necro > 2013-02-08 22:05 | Report Abuse

Tingginya....
Why so high?price mrcb now only 1.2.

Posted by Risk Trader > 2013-02-08 22:21 | Report Abuse

All GLC will push up MRCB price to above RM2.00......Just imagine, Patimas.from 3 cent can fly to 20 cent, so MRCB from 1.2 can fly 2.4.....

Posted by fatty_tang > 2013-02-08 22:29 | Report Abuse

@Kl Vin, 2 free warrants for 7 existing shares is only for the newly issued shares, meaning only Gapurna bosses will get it. However, existing shareholders will get 1 free warrant for every 3 shares.

Posted by necro > 2013-02-08 22:33 | Report Abuse

Sure friend?
Shareholder got tp?
When approve?

Posted by Lawrence Kwan Vui Juin > 2013-02-09 00:32 | Report Abuse

Really can't understand ..so complicated!

Posted by fatty_tang > 2013-02-09 01:00 | Report Abuse

read carefully and you'll be able to :)

Posted by Mat Cendana > 2013-02-09 02:10 | Report Abuse

Here's the link to the announcement: http://klse.i3investor.com/servlets/anpth/885699.jsp
I'm still trying to digest this, and especially the implications and possible response from the market. After all, what the market thinks matters the most to us investors and traders. Investors will surely have more than enough time to analyse given the long holidays.

But my first thoughts are - at the very least, it will serve as an impetus to reverse the slide. If you'd look at the 26/11 item from The Edge, the Gapurna deal, which is beneficial to MRCB, was held back due to the price of the latter's price then which was regarded by Gapurna as "high". But the slide to below 1.30 helps Gapurna in getting what it wants. Most likely "interested parties" had been pushing MRCB's price down to help create the desired situation and get the deal through.

Among other things, the "free warrants" of 1-for-3 for existing shareholders... and we all know how investors love "free". MRCB's share is valued at 1.55, which is a significant distance away from the present 1.26. We'll have to see whether it goes up near this next week... or even possibly exceed it. Or it might not go anywhere. Your guess is as good as mine. But if it does go up, my -CN warrants will too:-) So apt too: "CN" = Chinese New (Year)

Posted by alexisvics > 2013-02-09 08:20 | Report Abuse

Tq MC for the link. After reading the announcement I feel siok and have the urge to buy more next week.Hopefully the 13GE sentiment won't spoil the surge.

Posted by Lai Mun Hong > 2013-02-09 09:14 | Report Abuse

the free warrants is for shareholder buy before 2/8 or will get a new announcement date ?

Posted by Kl Vin > 2013-02-09 09:48 | Report Abuse

I think havent confirm...IT wrote PROPOSAL !!

Posted by Lai Mun Hong > 2013-02-09 09:50 | Report Abuse

like that we still have the chances to grab !

Posted by Mat Cendana > 2013-02-09 10:38 | Report Abuse

From The Star's Biz Week today: "MRCB signs deal worth RM729mil with Gapurna’s Salim" http://biz.thestar.com.my/news/story.asp?file=/2013/2/9/business/12692874&sec=business
The journalist has done the job for us where this item is much easier to understand than in reading the announcement to BSKL.

Another important point concerns the to-be-issued-warrants which most likely will be termed as "MRCB-WA": the ex. price is 2.30. Anyway, the investment banks will likely come up with their analysis in the coming days. There might also be a re-rating of MRCB since this deal is indeed significant.

The only dampener is of course the GE Factor. However, I feel the risks have already been factored in and that the bottom has been reached. This deal should boost MRCB's outlook for the future, and we're not considering how much it will benefit from the Sg. Buloh RRI land yet. Despite the looming GE, I feel MRCB will start moving up to a more reasonable level. 1.26 - this is simply too low. Most likely the slide was purposely brought about by the interested parties who wanted the Gapurna deal to go through. Now it should make up the lost ground.

After weeks of pain, things now look more promising for the MRCB investors and speculators. But don't be too exuberant though. Let's see first what the IB analysts think and, more importantly, how the market reacts next week.

Posted by anbz > 2013-02-11 17:03 | Report Abuse

this counter will pass RM0.45 and then it will go up again to RM2.70 , just like before, it already happened twice..

Posted by You Qi Choong > 2013-02-11 18:35 | Report Abuse

what do you mean RM0.45?

Posted by anbz > 2013-02-12 00:38 | Report Abuse

don't worry 0.45. it will shoot up back , don't u remember/notice its historicsl price...quite a long range, the big fish ,when they want to make money ,they'll push it down. 2nd ly why the price fell fr 1.53 to 1.26? just because of gapurna...i don't buy it

Posted by Mat Cendana > 2013-02-12 12:25 | Report Abuse

The slide over the past couple of months or so was explained by many as due to "General Elections uncertainties and concerns over the outcome" since MRCB is perceived to be a politically-connected company. This makes sense.

But as mentioned by @anbz, many didn't look beyond that and consider what the big fish might be doing to its price. The general opinion was that "investors and funds were selling ahead of the GE", and inferring that they did so because they are worried about the outcome and the effect on MRCB.

But if you'd look at its historical price, something is just not quite right. For one thing, the severity of the slide: the `normal' range was 1.60-1.75... at worse, it might be at 1.50. But it had gone well below that - to just 1.20-something! Every time a technical rebound looked imminent, and when it looked to be on the way up again, the counter gets pulled down. Again and again until traders no longer dared to buy no matter how attractive it looked. Clearly, some parties wanted the price to be low.

Tabung Haji, for instance: it was one of the sellers in late January. This contributed to the slide, of course, and you would have thought that it wanted to pare down its holdings. But early this month, it then bought almost three times what it had sold earlier. Why? One reason may be TH was doing someone a favour by helping to hold down the price. But it knows what the game is (i.e. the Gapurna deal) and having done that, it wants to benefit too, of course. So it bought at the lower prices.

Now the big players have gotten what they want: (1) MRCB gets the land which will be the impetus for future developments (2) Gapurna gets into MRCB by paying a more reasonable price for it i.e. 1.55 instead of anything in between the usual 1.60-1.75. It can increase its 17% stake in the future if it exercises its warrants. I feel the ex. price of 2.30 is fair to everyone - Gapurna won't the extra shares as cheaply as the first 17%. (3) Minority shareholders will get the free warrants too. They also can look forward to MRCB having a big, new project after KL Sentral is completed.

Remember that there are more goodies in the pipeline: the government has yet to decide on how much to compensate it for the EDL in JB. At the very least, the price must be "fair" - MRCB fulfilled its part of the bargain in completing the expressway. But the government, in wanting to be popular, didn't - MRCB couldn't collect toll as was previously agreed. Okay, fine, but MRCB must be adequately compensated for this.

Don't forget the RRI land in Sg. Buloh, which has gotten off the radar the past few months. Whatever some people might say, MRCB will likely be given a big share due to this fact: EPF owns 40% of it and practically every one of us has a stake in EPF. That makes it easier and more justifiable for the government to bring MRCB in as compared with most other companies. Or would we rather have it bring in a private company where only a select few cronies would profit from the land's development?

Tomorrow and the coming days will be interesting. Despite the GE Factor, I think MRCB's price will recover. It has been grossly oversold, and with this new impetus, the only way looks to be up. By how much remains to be seen. My guess is a conservative "above 1.40" from tomorrow.

Posted by BC475654 > 2013-02-12 13:31 | Report Abuse

Mc.Well said.many thanks for your input.I recon that the swing on Wed and Thur will be within the 20 sen price range.Fri will be more on profit taking activities as next week is too risky /too close to GE announcement.Post GE and if BN rule,pending contracts and compensation will roll in one after another.

Posted by Mat Cendana > 2013-02-12 23:42 | Report Abuse

@BC475654, Yeah, that GE matter might be a dampener and people will be cautious. On the other hand, it's also an opportunity. I have a list of counters that I'm watching and hoping will become cheap enough in the knee-jerk response to the GE announcement: These include MRCB, UEM Land, Gamuda, MMC etc. But I suspect the drop won't be too sharp. That's because people already anticipate the announcement - it's not as if they will be "surprised" or "shocked".

The more important angle is in what investors think the GE outcome will be. If they think BN will turn in a poor performance, this will be reflected by the market - from the GE announcement and during the campaigning period, it will probably slide. In such a situation, it might be better to stay at the sidelines. However, if they think BN will put up a better performance than in 2008, we will see these counters going up during the campaigning period. Investors will be jumping the gun and buy in anticipation of a post-GE rally. If we read it right, there's money to be made from this "GE Factor".

Posted by BC475654 > 2013-02-13 08:13 | Report Abuse

A caution note.Tabung Haji is a trader as oppose to EPF an investor as far as this counter is concerned.TH has 114.5mil shares in hand out of which 1.25mil was acquired on 5-6/Feb at price in the region of 1.25.Based on my past 6 mths observation,whenever MRCB is on up trend,TH will surface to dispose.

Posted by Mat Cendana > 2013-02-13 09:56 | Report Abuse

A promising start but the rally petered out. Investors are cautious due to the GE and it will need the big boys to come in for this counter to really swing up. Will have to wait a while yet before this one turns in a better profit.

Posted by henry142 > 2013-02-13 10:33 | Report Abuse

Looks like big boys keep disposing

Posted by alexisvics > 2013-02-13 10:41 | Report Abuse

Sell on news

Posted by alexlulu > 2013-02-13 10:52 | Report Abuse

so much nonsense and yet so many ppls thankful for nonsense.

Posted by alexlulu > 2013-02-13 11:00 | Report Abuse

so many sor hai si fu here talking non sense.