Posted by Cheng Yeow Ng > 2017-05-17 21:33 | Report Abuse

If market thinks the right issue is for capex on bandar malaysia, the price will go up graduately

Posted by newbie92 > 2017-05-17 21:34 | Report Abuse

Mrcb can get bandar malaysia?

Posted by Hh5519 > 2017-05-17 21:37 | Report Abuse

Bandar Malaysia now own by government... developers needs to Tender bandar malaysia project

Posted by 55880955 > 2017-05-17 21:38 | Report Abuse

epf and the major shareholder will subscribe their rights to avoid dilution of their holding. As both of them will subscribe, means BIG project coming. Maybe bandar msia project.

Posted by ks5S > 2017-05-17 21:42 | Report Abuse

epf is govt related also. Sure there are interested in bandar msia. If not how to pay min 6% dividend every year. Tender is just for show only.

Posted by Hh5519 > 2017-05-17 21:45 | Report Abuse

KS5S-Agreed tendering it is only showing to news only

Posted by Leoleo > 2017-05-17 21:51 | Report Abuse

Right issue is expected to be completed on 3rd quarter of 2017

Posted by manja > 2017-05-17 21:51 | Report Abuse

Now MRCB is very hot, can't wait for tomorrow to see what's going to happens. I bought the warrant 0.155 sure can't sleep tonight. Hope all the good comments will be happening tomorrow

Posted by newbie92 > 2017-05-17 21:55 | Report Abuse

Buy on weakness tomorrow?

Posted by ks5S > 2017-05-17 21:55 | Report Abuse

the smooth operator of mrcb sure will goreng up further so that the RI price is about 1.50. Still got 4 months goreng period.

Posted by jfm3737 > 2017-05-17 22:05 | Report Abuse

Dows -238

Posted by w2339 > 2017-05-17 22:07 | Report Abuse

Dont worry. Funds throw shares in Dows will come buy bursa shares.

Posted by cheated > 2017-05-17 22:23 | Report Abuse

Why Star and i3 forumers cheat me? Why still no news MRCB as BM master developer?

Posted by nikicheong > 2017-05-17 22:41 | Report Abuse

Dammit man, rights issues are a nightmare. Stock price will always suffer (even when adjusted for the dilution). Tell me when ever has the adjusted price gone higher after a rights issue announcement? People always hate it, and rightly so.

Alas, best time to buy is when rights issue is just about completed (or just buy the OR). That's when the adjusted price is at it's lowest point.

Posted by Stevecheahsw > 2017-05-17 23:09 | Report Abuse

No money to pick R.I will throw all ticket first, C.W have to wait bank do conversion price adjustment, but need time, if c.w near to expire date you know what to do lohhhhh

Posted by newbie92 > 2017-05-17 23:10 | Report Abuse

MRCB Wa 2018 expired, still got value?

Posted by tlbeng > 2017-05-18 00:02 | Report Abuse

http://www.theedgemarkets.com/article/mrcb-announces-cash-call-proposal-raise-rm286b

KUALA LUMPUR (May 17): Malaysian Resources Corp Bhd (MRCB) announced this evening that it has proposed a one-for-one renounceable rights issue to pare down its borrowings and to finance the refurbishment of the national sports complex in Bukit Jalil.

The cash call, which will be sweetened by free detachable warrants on one-for-five basis, will raise between RM2.17 billion and RM2.86 billion.

As at end-2016, MRCB’s total bank borrowings which has an average annual interest rate of 5.6%, stood at RM2.94 billion. Meanwhile, the group's cash balance was at RM592.77 million.

According to MRCB, the proceeds from the rights issue will be used to finance the refurbishment of the national sports complex in Bukit Jalil, besides paring down its borrowings and developing new property projects, as well as for general working capital.

In a filing with Bursa Malaysia, MRCB said it intends to issue up to 2.86 billion in rights shares, together with up to 571.34 million free detachable.

The group’s two substantial shareholders — the Employee Provident Fund (EPF) and Gapurna Sdn Bhd — have given the undertaking to subscribe in full for their entitlements. The duo may apply for excess rights shares.

Both EPF and Gapurna are applying to authorities for exemption from the obligation to undertake a mandatory offer arising from the application for excess rights shares under the proposed rights issue, as well as the subsequent exercise of the rights warrants into new MRCB shares.

EPF currently owns a 33.55% stake in MRCB, while Gapurna — the private vehicle of MRCB’s group managing director Tan Sri Mohamad Salim Fateh Din — owns a 16.78% stake.

Meanwhile, Bank Kerjasama Rakyat Malaysia Bhd and pilgrim fund Lembaga Tabung Haji owns 7.92% and 8.17% respectively.

On the amounts to be raised, MRCB said it has earmarked some 45% or RM975 million which be paid to its 85%-controlled subsidiary Rukun Juang Sdn Bhd, held via MRCB Land Sdn Bhd.

Rukun Juang had on Oct 28, 2015 signed a privatisation with the government — Ministry of Youth and Sports and Syarikat Tanah dan Harta Sdn Bhd — to refurbish and upgrade facilities at the national sports complex in Bukit Jalil.

“The proceeds to be raised from the Proposed Rights Issue are intended to be advanced to RJSB to finance the Privatisation of the national sports complex,” MRCB said.

At the same time, MRCB will set aside some 38% or RM826.32 million to repay its borrowings to financial institutions that include Affin Bank Bhd, Affin Hwang Investment Bank Bhd, RHB Islamic Bank Bhd and Malaysia Building Society Bhd.

“The repayment of borrowings amounting to approximately RM826.32 million is expected to result in an annual gross interest savings of approximately RM46.69 million to the company, under both the Minimum Scenario and Maximum Scenario,” MRCB added.

MRCB also said it plans to set aside between 11% or RM233.04 million and 32% or RM916.9 million from the total proceeds, to fund its property development and construction projects which include Lot 94 in Jalan Kia Peng, Lot F in Kuala Lumpur Sentral, Phase 2 of 9 Seputeh, and Sentral Suites.

MRCB shares closed at RM1.74 today, for a market capitalisation of RM3.79 billion.

Posted by Stevecheahsw > 2017-05-18 00:21 | Report Abuse

MRCB WA Premium damm high! Conversion 2.30 (1 to 1), all proposal expected to b completed in the 3rd quarter of 2017.

See how company going to adjust conversion price of WA

Posted by greedyboy > 2017-05-18 00:28 | Report Abuse

To raise between RM2.17 billion and RM2.86 billion, 50.33% or minimum RM1.09 billion will be collectively from EPF and Gapurna. If taking into account Lembaga Tabung Haji, Bank Kerjasama Rakyat and the big funds in MRCB, most of it will be raising from top 30 shareholders. Unless some of them do not want to subscribe, then it has to see how much EPF and Gapurna would like to subscribe in excess of the entitlements. So, is it good or bad thing?

Posted by jfm3737 > 2017-05-18 08:56 | Report Abuse

mati liao

Posted by ks5S > 2017-05-18 09:11 | Report Abuse

the smooth operator will push back above 1.70
don't worry. Bandar msia coming.

Posted by Mohd Fahmi Bin Jaes > 2017-05-18 09:18 | Report Abuse

warning sell

Posted by ks5S > 2017-05-18 09:19 | Report Abuse

stiill got 4 months to go before right issue. Many things can happen during this period to push the price
a) selling on edl highway
b) master developer for bandar msia.

Cool down.

Posted by edragon777 > 2017-05-18 09:22 | Report Abuse

RI exercise is not for BM, MRCB already clearly stated its use for its privatisation of sport complex plus interest saving purpose.
BM unofficial calling for 100b, RI total proceeds not even its 1 qtr amount lol...

Posted by nasaie24 > 2017-05-18 09:28 | Report Abuse

panic selling. me collecting

Posted by Bentara Aduka Emas > 2017-05-18 09:36 | Report Abuse

Kaw2 down.... -.0.10

Posted by ltw1123 > 2017-05-18 09:37 | Report Abuse

Anything related to rights issue announcement yesterday?

Posted by ruskymee > 2017-05-18 09:42 | Report Abuse

Got 4 more months down the road to find a nice price to fix the RI price. Can start to pick the right price to collect some if market sentiment is still good. EPF is there to be our back bone. Really need to do a lot of thinking. Sigh!

Posted by Tiff > 2017-05-18 09:44 | Report Abuse

useless counter

Posted by nwkh88 > 2017-05-18 09:44 | Report Abuse

lolol wheres that fella that said "I've just got a feeling TP is RM2.00", our beloved bomoh told you is it?

Posted by omnigunk > 2017-05-18 10:12 | Report Abuse

Quite a big amount, the shares could be very diluted.

Posted by rr88 > 2017-05-18 10:16 | Report Abuse

drop ler. funds selling to raise cash for right issue..

Posted by ruskymee > 2017-05-18 10:18 | Report Abuse

Yup. How successful is this corporate exercise are on the hand of the top 10 major shareholders. Bear in mind ESOS price is RM1.36 & what is the reasonable RI???

Posted by Santiago > 2017-05-18 10:18 | Report Abuse

drop further please..

Posted by KLCI King > 2017-05-18 10:21 | Report Abuse

RI kills the momentum, anyone dare to bottom fishing? Win big or lose big chance.

Posted by PenguinDad > 2017-05-18 10:24 | Report Abuse

Another IWCity coming!

Posted by ltw1123 > 2017-05-18 10:26 | Report Abuse

Still dropping. Is it a good time to enter?

Posted by WaAdaLui > 2017-05-18 10:27 | Report Abuse

1 for 1 right issue... what de F...k

Posted by LuckyG > 2017-05-18 10:33 | Report Abuse

bought in 1.55

Posted by Cornerstone > 2017-05-18 10:35 | Report Abuse

purposely push the price up recently just because they wanna do a rights issue?? and someone here mentioned last time they may get TRX deal... hahaha.. Bukit Jalil project also need funding from rights issue, how to secure TRX deal???...hahaha.. i already cut loss and sold.

Posted by azim1590 > 2017-05-18 10:35 | Report Abuse

bought in 1.58. Ready for another cash if going down to 1.45

Posted by KLCI King > 2017-05-18 10:36 | Report Abuse

Fish 1.55

Posted by ruskymee > 2017-05-18 10:45 | Report Abuse

Bought at RM1.58. Will chip in again if fall below RM1.50

Posted by w2339 > 2017-05-18 10:47 | Report Abuse

bought 1.55

Posted by abc333 > 2017-05-18 10:50 | Report Abuse

next news is MRCB bid for BM

Posted by ruskymee > 2017-05-18 10:58 | Report Abuse

Only they know themselves. We are guessing based on all information available & their good timing in releasing it. Pray hard & hopefully all turn out well.

Posted by Nigel Low > 2017-05-18 10:58 | Report Abuse

AmInvestment Research is retaining its Buy call on Malaysian Resources Corporation Bhd (MRCB) with an unchanged fair value of RM1.89, based on a 10% discount to its realised net asset value (RNAV).
http://www.thestar.com.my/business/business-news/2017/05/18/aminvestment-research-retains-buy-on-mrcb/#p5I80c5VL25zpw2Z.99

Posted by LuckyG > 2017-05-18 11:07 | Report Abuse

sold 1.57 ... 2 cent profit hehehe

Posted by BigDaddyCool > 2017-05-18 11:11 | Report Abuse

nigel that was before RI announcement...now after RI shares will be flooded with more selling pressures as pricing will be readjust to suit newly RI...all CW now are heavily bleeding...damn mrcb

Posted by Nigel Low > 2017-05-18 11:19 | Report Abuse

News was released about 2 hours ago, RI was mentioned as well. We'll see how it goes from here.