lackluster trading today, lets hope tmr will be a better day, sharks please appear for pushing up and sharks are maneater and this is all about maneater http://www.youtube.com/watch?v=INLkx3OZNVY
Proposed disposal of Plaza Sentral sets to turn it into single largest shareholder of Quill Capita
Malaysian Resources Corp Bhd (MRCB) has inked an RM750mil deal to sell its Platinum Sentral office building in KL Sentral to Quill Capita Trust Bhd. Yesterday’s announcement confirms a report by StarBiz earlier this week. The transaction, said to be the first of its kind in the country, sets up construction-cumproperty developerMRCB to be the single largest shareholder of Quill Capita Trust, as well as the owner of its management vehicle. The heads of agreement (HOA) was signed yesterday. Quill Capita Trust, an office-based real estate investment trust (REIT), will pay for the building with RM486mil in cash and RM264mil in new Quill Capita Trust units at RM1.32 apiece, both companies said in filings to the stock exchange. Quill Capita Trust intends to fund the purchase using borrowings and the issuance of new units. Platinum Sentral consists of five blocks with four-to-seven stories of commercial buildings housing office-cum-retail space, a multi-purpose hall and two levels of car parks. Its office space, with a net lettable area of 450,000 sq ft, is 100% occupied, although its 79,000-sq-ft retail portion is only 20% occupied, according to HwangDBS Vickers Research. MRCB has also agreed to acquire 41% in Quill Capita Management Sdn Bhd (QCM), the vehicle that manages the REIT, from CapitaLand RECM Pte Ltd and Coast Capital Sdn Bhd, both at a multiple of 10 times the profit after tax of QCM for the financial year ended Dec 31, 2012. Meanwhile, Quill Resources Holding Sdn Bhd, one of QCM’s existing shareholders, will take up an additional 9% stake from Coast Capital, also at 10 times price-to-earnings. If the deal goes through, then CapitaLand RECM and Coast Capital stand to gain RM5.74mil and RM1.43mil for their equity in QCM, respectively. All parties have 30 working days to sign the definitive sale and purchase agreement. CapitaLand RECM is related to Quill Capita Trust’s Singaporean shareholder CapitaCommercial Trust, which currently holds a 30% interest in the REIT, while Coast Capital is a bumiputra party. Quill Resources Holding, meanwhile, is a unit of the Quill group. In a statement, MRCB group managing director Datuk Mohamad Salim Fateh Din said the HOAwould help generate dual income streams via dividends from Quill Capita Trust and the management fees from its stake in QCM. The move is in keeping with the strategy to establish a listed platform that would enable MRCB to monetise its future investment properties in exchange for tradable and liquid securities. MRCB is expected to emerge as a 30% shareholder in Quill Capita Trust once the exercise is complete. The REIT will also see its asset base balloon to RM1.5bil. HwangDBSVickersnotedina report released before the announcement of the exercises that depending on the terms, the injection of Platinum Sentral into Quill Capita Trust could be earnings accretive for the latter.
Critical point for MRCB. At least it's holding at the 1.50 level, which is promising. This is the ex. price of -CR (21/3/14). I feel the present premium is a bit high though. If it drops a bit, I'm in.
kikiiii ... jenny wanna kill me if drop to 0.80 ! b4 u kill me , kiss me first ok ... kikikiiii is tj cut loss price la . every counter we bought must set a cut loss price 1 , no sure win in trading , must get ready for bad thing ,no matter how painful , dont fall in love with any counter apply to losing money counter also .pratice this pls , jenny ..
兄弟 ... 舍得砍 , sure 砍 , happen b4 and more than 1 , for sure , in future still got counter that have to 砍 in this way, just hope not this 1 , caused c9 also bet heavy in this 1 because of me ... kikikiiiiii
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....
crawler
4,829 posts
Posted by crawler > 2014-01-23 16:07 | Report Abuse
wait man...the white shark swimming around and scare people off the shore so they can makan before moving uptrend again