Posted by chong > 2012-02-24 09:54 | Report Abuse

Buy ECM and wait for takeover...do it my friends...agreement almost finalized.

Posted by chong > 2012-02-24 14:34 | Report Abuse

Buy your ECM now before you miss the opportunity.

Posted by tansrihew > 2012-02-24 14:41 | Report Abuse

chong: what takeover happening?

Posted by chong > 2012-02-24 14:54 | Report Abuse

This out yesterday brother tansrichew....."Kenanga nears agreement to buy ECM Libra"........we are almost there..sooner or later.

Posted by chong > 2012-02-25 05:13 | Report Abuse

KandN Kenanga Holdings Bhd, the Malaysian brokerage backed by Deutsche Bank AG, is close to an agreement to buy the investment
banking and broking unit of ECM Libra Financial Group Bhd for about RM900 million, according to three people familiar with the matter.

Kenanga may pay in cash and stock, two of the people said today, declining to be identified as the information is private. The sale won't include ECM Libra's asset management operations, they said.

Malaysian banks and brokerages have been merging amid increased competition from foreign lenders including Bank of China Ltd and Sumitomo Mitsui Banking Corp. Hong Leong Bank Bhd acquired EON Capital Bhd for US$1.7 billion in May, while RHB Capital Bhd is seeking central bank approval to buy OSK Holdings Bhd's investment bank.

Kenanga's head of group corporate affairs Siti Maslinda Sheikh Othman wasn't immediately available to comment. ECM Libra spokeswoman Maureen Jeyasooriar declined to comment on the sale. Kenanga's board is expected to meet later today to approve the deal, one person said.

The sale will help Azman Hashim, ECM Libra's biggest shareholder, meet Malaysian licensing rules that bar a single individual from being a key owner of more than one investment bank. Azman, who owns 24 per cent of ECM Libra, also indirectly holds almost 17 per cent of AMMB Holdings Bhd, Malaysia's fifth- biggest lender by market value, according to data compiled by Bloomberg. -- Bloomberg

Posted by quyen850906 > 2012-02-25 10:20 | Report Abuse

chong, ecm can go how far, TP?

Posted by chong > 2012-02-25 19:03 | Report Abuse

Maybe $1.10 to $1.20 at least for takeover. Wish someone here with more experience in takeover could help out in this aspect....thank you.

Posted by chong > 2012-02-26 16:57 | Report Abuse

From what I know Kenaga will be paying about 60 cents per ECM shares plus some Kenaga shares as well....so watch out for it.

Posted by chong > 2012-02-26 20:38 | Report Abuse

Let's see how it goes next week.

Posted by James Woon > 2012-02-26 21:35 | Report Abuse

hi, i m new to stock market...let say if the purchase is not success, would the stock price drops?

Posted by chong > 2012-02-27 04:34 | Report Abuse

It's quite confirmed that the purchase will go through...not a total buyout in cash but part cash of a possibility 60 cents & part Kenaga shares. But also quite confident that even if the deal doesn't go through, ECM price will stay strong as it's still a good counter.... NTA is still $1.21, EPS is more than 8 cents & PER is around 10

Posted by chong > 2012-02-27 04:56 | Report Abuse

Kenanga, ECM unit close to finalising deal



KUALA LUMPUR: ECM Libra Financial Group Bhd, whose substantial shareholders have long wanted to divest their equity, is close to signing an agreement to sell the group’s stockbroking and investment banking operation to K&N Kenanga Holdings Bhd, according to sources.

Sources close to the negotiations told The Edge Financial Daily that Kenanga Holdings will pay about RM900 million for the stockbroking and investment banking business in ECM Libra via a cash and share swap deal.

Upon completion, ECM Libra will hold a stake in Kenanga Holdings. The financial group will be left with its asset management business and cash. According to sources, ECM Libra will use the cash to acquire new businesses.

At RM900 million, the deal would value ECM Libra’s stockbroking and investment banking arm at above one times book value. Based on the price tag of RM900 million, the group’s broking and investment banking arm is valued at RM1.10 per share, which is nearly a 31% premium over ECM Libra’s closing yesterday of 84 sen.


Both parties received the green light from Bank Negara Malaysia in October to hold merger talks. It was widely known at that time that Tan Sri Azman Hashim was looking to divest his 23.8% equity interest in ECM Libra.

Azman, a substantial shareholder in AmBank group, needs to pare down his equity interest as an individual is not allowed to hold substantial stakes in more than one financial institution under the Banking and Financial Institutions Act. According to the latest annual reports, Azman holds an indirect 16.78% stake in AMMB Holdings Bhd.

The deal is the latest in a series of M&A in the local financial and brokerage industry. Hong Leong Bank Bhd acquired EON Capital Bhd for RM5.06 billion last year, while RHB Capital Bhd and OSK Holdings Bhd are currently ironing out a merger proposal.

Posted by JT1969 > 2012-02-27 07:40 | Report Abuse

From good management to a hopeless new management. Long term sell.

Posted by chong > 2012-02-27 08:13 | Report Abuse

Brother JT1969 , where's the evidence on hopeless new management at ECM & it's poor performance.....please elaborate instead of simply shooting lah...cheers.

Posted by chong > 2012-02-27 08:17 | Report Abuse

If it's hopeless new management, then why is the good performance with this results....here...Nine-month net profit 30.656 million (increased 58.27%)

Posted by spinninglotus > 2012-02-27 22:01 | Report Abuse

Yes,it is almost a done deal,just that its negotiation has taken quite sometime since last year. Near term target 90cents. Kenanga share price should be pushed higher so that investors will be interested to buy ecm because we get additional kenanga shares at higher price. Some more it has good dividend.We get additional dividend yield too!

Posted by chong > 2012-02-28 01:25 | Report Abuse

Yes, brother spinninglotus , time to collect & wait for the takeover terms & announcement.

Posted by JT1969 > 2012-02-28 01:29 | Report Abuse

Bro Chong, was referring to the Kenanga management ...

Posted by chong > 2012-02-28 01:38 | Report Abuse

Sorry lah brother JT1969 for the miscommunication. Yes, let's hope that ECM will be better in a few days time...wonder why people still sell ECM cheaply when they know that the takeover deal is almost done...beats me indeed.

Posted by spinninglotus > 2012-02-28 07:30 | Report Abuse

Because the official deal is not out yet. Those buying lower before will sell to try to push ECM price down to scare those holding ECM to sell to them.Once the insiders have bought enough ECM at low price,they will announce the merging deal and the price will go up very fast when nobody can buy at low price anymore.This is how they trick us always.

Posted by JT1969 > 2012-02-28 08:04 | Report Abuse

Those insider would have bought much much earlier .. Now it's to collect their profits.

Posted by mr_investmentbanker > 2012-02-28 09:01 | Report Abuse

thing for sure is tan sri's stake need be disposed. it just matter of time.. well its a good call to buy ECM. good fundamental + management.. heard that they are restructuring the top mgt.

Posted by chong > 2012-02-29 03:14 | Report Abuse

Very true brother mr_investmentbanker...sooner or later perhaps in a month or so an announcement will be made & then people start chasing...so why not buy now & hold?

Wonder why people & so many stupid kiasi & kiasu kakis sold down & chabut even though the takeover is finalizing? It's a sure thing that it will be taken over with cash payment of 60 cents plus some Kenaga shares...so it's a big gain for ECM my friends.

Posted by spinninglotus > 2012-02-29 16:52 | Report Abuse

Today ECM volume has increased. Selling pressure has reduced. Very good support at 0.825. Today closing surge 2.4%. I guess it is just waiting time to get noticed only.

Posted by chong > 2012-02-29 16:59 | Report Abuse

Yes, takeover may be announced soon otherwise they won't buy higher by 1 cent on the last call.

Posted by spinninglotus > 2012-02-29 20:25 | Report Abuse

Tomorrow ECM will challenge its resistance at 0.84,once broken well,it will go to 0.88 soon...Let us watch ECM tomorrow.It should be exciting...

Posted by chong > 2012-02-29 20:30 | Report Abuse

Brother spinninglotus , tomorrow it will break the 84 cents resistance by the look of the last minute buying higher......perhaps opening at 85 cents & moving higher to 90 cents.Cheers.

Posted by chong > 2012-02-29 20:39 | Report Abuse

Reaching $1 is a possibility with the takeover factor in mind....remember that if Kenanga takeover, it will pay 60 cents cash & plus some Kenaga shares in exchange.

Posted by spinninglotus > 2012-02-29 21:01 | Report Abuse

I think based on bullishness of current sharemarket,ECM's earnings can increase tremendously...If next financial announcement has positive surprises,ECM can give good dividend yield too...I heard the takeover values ECM at RM1.10 per share...Hope Kenanga can announce the takeover deal soon....30% upside potential for ECM.

Posted by chong > 2012-02-29 21:04 | Report Abuse

Yes, Kenanga takeover at $1.10 is a possibility as 60 cents cash & Kenanga shares will worth more.

Posted by spinninglotus > 2012-02-29 21:11 | Report Abuse

Thank you Brother Chong...

Posted by spinninglotus > 2012-03-01 22:26 | Report Abuse

ECM share price cannot move up,cannot drop,just stay at same price only...very boring le...hope Kenanga will finalise the deal as soon as possible.If not we buy and hold and hope for the best.

Posted by chong > 2012-03-02 01:41 | Report Abuse

Hold on brother spinninglotus , our ECM will come. For those who dare not buy but wait, then when the announcement suddenly appear, they will chase like mad dog, hee, hee, hee

In fact, negotiations is almost done and the takeover is imminent.

Posted by James Woon > 2012-03-02 09:35 | Report Abuse

let's hope so, as a newbie ecm is my second stock purchased..and coincidentally my stockbroker is ecm libra actually.

Posted by spinninglotus > 2012-03-02 16:18 | Report Abuse

Brothers,ECM is coming strong today!

Posted by chong > 2012-03-02 16:26 | Report Abuse

Yes, it's coming

Posted by huileng06 > 2012-03-02 16:44 | Report Abuse

What's ur tp? Brother chong?

Posted by spinninglotus > 2012-03-02 16:52 | Report Abuse

I take near term target 90-92cents,until announcement then shoots up to 1.00!

Posted by adlin > 2012-03-02 17:17 | Report Abuse

when is the announcement?

Posted by chong > 2012-03-02 17:39 | Report Abuse

SHOULD BE SOON.

Posted by spinninglotus > 2012-03-02 18:37 | Report Abuse

I guess within 2months

Posted by chong > 2012-03-03 00:56 | Report Abuse

Maye even earlier than 2 months...so keep on holding as it's 99.9% ECM will be taken over.....the 0.01% s for "unforseen circumstances" lah.

Good luck to all.

Posted by chong > 2012-03-03 17:19 | Report Abuse

Think the buying momentum is picking up from the looks of Friday's buying. If the announcement is closing near & nearer, more people will be buying & buying...so just stay.

Posted by spinninglotus > 2012-03-03 18:02 | Report Abuse

Agree!First time after so long ECM has finally closed at 84.5,breaking resistance at 84cents with continuous buying of ECM.

Posted by spinninglotus > 2012-03-03 18:02 | Report Abuse

Agree!First time after so long ECM has finally closed at 84.5,breaking resistance at 84cents with continuous buying of ECM.

Posted by chong > 2012-03-04 01:54 | Report Abuse

Yes, brother spinninglotus, we will see more upwards swing, that's for sure.

Posted by spinninglotus > 2012-03-04 07:34 | Report Abuse

Market is very bullish,ECM is a laggard in share price despite a cash rich company with good earnings and lots of dividend yield. Despite delay in takeover announcement,market will rally ECM soon,especially when all other small cap shares are in correction mode now. Looking at its technical analysis,it thas taken 1 month in February to clear the sellers at resistance of 0.82,0.83 and now 0.84...with this slowly upward momentum gathering pace,once it clears next resistance at 0.86 and 0.88, ECM rally will be swift and furious! Who knows if this bull market run continues as Europe break up crisis is easing to low level,ECM earning can increase to such level that its takeover price has to be increased?So Kenanga has to act fast if not they may need higher takeover price later in the year! ECM is one of few Investment brokerage firm with good profit...very good prospect in this environment.

Posted by spinninglotus > 2012-03-04 10:27 | Report Abuse

ECM last financial report showed net earning rm1million plus,with gross earning up but net earning down.I emailed ECM,they said they paid higher deferred tax that quarter rm6million plus.So this causes laggard in ECM share price and gives good opportunity to accumulate at this cheap level...haha

Posted by spinninglotus > 2012-03-04 10:29 | Report Abuse

As I predicted last week they purposely pushed down ECM price to scare investors. Once they accumulate enough the insiders will announce merger plan and the share price will rise fast!

Posted by chong > 2012-03-04 18:38 | Report Abuse

Brother spinninglotus, what you said are all correct & straight to the point. I am confident that there will be more upward swing this week. Are we to see ECM goes up to $1.30++