Posted by chong > 2012-07-31 18:45 | Report Abuse

Here it is brother grss..


Type of Meeting EGM
Indicator Outcome of Meeting
Date of Meeting 31/07/2012
Time 11:00 AM
Venue Ground Floor, East Wing, Bangunan ECM Libra
8 Jalan Damansara Endah
Damansara Heights
50490 Kuala Lumpur
Outcome of Meeting

ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG” OR THE “COMPANY”)

· Proposed Disposal;

· Proposed Business Merger;

· Proposed Capital Repayment;

· Proposed Share Split; and

· Proposed Share Consolidation,

(collectively referred to as the “Proposals”)

(Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement in relation to its Proposals dated 15 June 2012)

We refer to the announcement dated 15 June 2012, 21 June 2012 and 6 July 2012 made by ECM Libra Investment Bank Berhad (“ECMLIB”), on behalf of the Board of Directors of ECMLFG (“Board”) in relation to the Proposals.

On behalf of the Board, ECMLIB is pleased to inform that at the Extraordinary General Meeting (“EGM”) of the Company held today, shareholders of the Company have approved by way of poll all the special resolutions for the Proposals, as set out in the Notice of the EGM contained in the Circular dated 9 July 2012.


This announcement is dated 31 July 2012.

Posted by chong > 2012-07-31 18:47 | Report Abuse

Good news....share buyback, that means ECM will rise further.....abalone on the table now, haahaahaa


Type of Meeting AGM
Indicator Outcome of Meeting
Date of Meeting 31/07/2012
Time 10:30 AM
Venue Ground Floor, East Wing, Bangunan ECM Libra
8 Jalan Damansara Endah
Damansara Heights
50490 Kuala Lumpur
Outcome of Meeting
The Board of Directors of ECM Libra Financial Group Berhad ("Company") wishes to announce that at the 7th AGM held today, the shareholders of the Company had approved all the following ordinary and special businesses as set out in the notice of the AGM dated 9 July 2012:-

1. Receipt of audited financial statements for the financial year ended 31 January 2012 ("FY 2012");

2. Payment of first and final single-tier dividend of 2.4 sen per ordinary share for FY 2012;

3. Payment of Directors' fees;

4. Re-election of retiring Directors;

5. Re-appointment of Messrs Ernst & Young as Auditors;

6. Authority to issue shares pursuant to Section 132D of the Companies Act, 1965; and

7. Renewal of the Share Buy-Back Authority.

This announcement is dated 31 July 2012.

Posted by Vincent Wong > 2012-07-31 22:14 | Report Abuse

隆坡31日讯）益资利（ECM，2143，主板金融股）看好英国、缅甸和国內市场，並希望在未来一年內可在上述地点寻求核心业务注入公司，业务方向可能包括基建设备、酒店业、產业和私募基金（private equity）等。

益资利主席拿督斯里卡立慕拉表示，脱售投行业务后，该公司將须暂时落入PN17行列。

虽然公司目前仍经营一些资產管理及信託基金等业务，但这些业务並不足以成为其核心业务。

「资產管理每年带来的盈利贡献仅1000万令吉，还不能被列为核心业务。」

因此，他指出，希望在未来一年內，可从英国和缅甸市场中，寻求业务注入公司。业务方向虽未確定，惟肯定的就不会是金融业务。

「我们刚脱售了金融业务，主要因为这项业务甚具挑战性。大马有9家银行背景的投行和一些外资投行，加上一些伊斯兰银行也开始持有投行的执照，导致一些小型或独立投行的竞爭逐渐增加。」

然而，他希望趁著市场低靡之际，可在英国进行產业投资。至於缅甸方面，他则希望可寻求一些基建业务。当地的金融领域仍没有发展；如果有一定程度的发展后，以该公司过去的经验，可能也会考虑进军。

同时，他也指出，由於该公司是一家零负债公司，所以也吸引一些业者前来洽谈。

在完成脱售和资本回退后，该公司將拥有超过3亿令吉的现金，但使用的方向仍未確定。

儘管如此，他也透露，目前没有打算將个人旗下的资產与业务注入益资利；也不会將上市地位转让给其他业者。但如果在一年內仍无法获得新业务，公司会將资本回退给股东，然后再除牌。

卡立慕拉是益资利的股东大会和特大后，向记者发表以上的谈话。

关於这次的脱售议案，小股东希望公司可派发更高的股息。对此，卡立慕拉解释，这次的资本回退將以现金、可赎回无担保债券股（RULS）和K&N肯南嘉（KENANGA，6483，主板金融股）新股的方式来处理。基於公司仍需要现金来寻求新业务和维持上市地位，所以不能將所有的资金回退。

此外，他表示无意进入K&N肯南嘉的董事部，並会將公司所获得的K&N肯南嘉新股全数分给股东。而其投行的执照则將退还给国家银行。

Posted by bigyellow > 2012-07-31 22:20 | Report Abuse

lets watch for tomorrow hopefully..

Posted by chong > 2012-08-01 02:36 | Report Abuse

I think that ECM will come in stronger this week because of yesterday AGM approved for the sale of the brokering arm to Kenanga, directors strong buying support buying & also because of the yesterday's AGM approval for share buyback....well we wait for the share buyback especially as this will support the share from falling down and at the same time buying higher & higher everyday to support ECM to bring it to a new level where price is concern....will we see ECM go as high as $1.10 cents within these 3 months?

Cheers.

Posted by jtpc2006 > 2012-08-01 09:20 | Report Abuse

in The Edge, ECM Libra is now cash rich, open to diversifying...

Posted by Joe Liam > 2012-08-01 15:59 | Report Abuse

Why the price still go down even after the sales is confirmed yesterday?

Posted by grss > 2012-08-02 10:28 | Report Abuse

Yesterday went down as some people prefer to take profit before ex-date of dividend. But hang on much longer until the capit repayment, issuance of new kenanga shares. Besides, it will be interesting to see how ECm diversify it's portfolio too. Also, bear in mind this is a debt free company. Need not worry of near term bankruptcy for now

Posted by chong > 2012-08-02 10:43 | Report Abuse

Friends, let them throw to sell yesterday as the price will go up furthers while we collect our dividend. With strong company support in share buyback, we will see our ECM move north...just don't worry as some scumbags & leeches discourage you all to buy when I recommend you all to buy from 77 cent cents...now you eat abalone...cheers.

More upwards swing to come, that's for sure.

Posted by grss > 2012-08-02 10:46 | Report Abuse

Report in newspaper also mentions that kenanga wil be the largest stockbrocker s after takeover. So the new kenanga shares will do good too. ;)

Posted by chong > 2012-08-02 10:59 | Report Abuse

Yes, Kenanga will be one of the biggest stockbroker & that appears good too. FYI, Kenanga AGM a day back also approved the buying of ECM on the same day ECM AGM also approved the sale...so all is in order now & so we wait for our money, hee, hee, hee

Cheers.

Posted by jtpc2006 > 2012-08-04 07:49 | Report Abuse

Hidden gems in ECM Libra in the Edge, Corporate:
The financial group has a few gems that may have escaped the notice of investors. This includes a proprietary investment portfolio, which it bought back from its former investment banking arm.
Another piece of good news!!

Posted by kilrathi > 2012-08-04 08:25 | Report Abuse

BEst is to wait for stablising point, and then enter.

Posted by chong > 2012-08-05 03:12 | Report Abuse

Brother kilrathi , where's the stablising point....Kenanga & ECM AGM had bot approve the sale , so we see money coming...about 60 cents solid cash, free Kenanga shares & we get to keep our ECM shares with is cash rich...what else do you expect for brother...cheers.

You only want to enter now & not before when it was at 77 cents...now we all are dividend son[already ex], our prices had increase & we are looking to the $1.00+ price level.

Cheers.

Posted by chong > 2012-08-05 03:20 | Report Abuse

Brother jtpc2006 , mind providing the link, thank you.

Posted by chong > 2012-08-05 03:25 | Report Abuse

KUALA LUMPUR: ECM Libra Financial Group Bhd, which will be left with some RM350 million after the disposal of its investment banking unit to K&N Kenanga Holdings Bhd, is looking to acquire new businesses within and outside Malaysia to diversify its income stream.

ECM Libra chairman Datuk Seri Kalimullah Hassan said the company is looking at opportunities in countries such as the UK and Myanmar. “We are not limited [to] just looking at domestic [businesses].

We’re looking out for opportunities in countries like the UK and Myanmar. We’re looking at UK for real estate, but [there is] nothing firm yet at the moment. Property prices are cheap [now in the UK] because of the euro crisis.

“We’re looking at opportunistic investment. The board will evaluate it and we will come up with the proper announcements when we firm up things,” Kalimullah said after the company EGM.

Kalimullah, who is also a shareholder of Tune Hotels, said ECM Libra may consider buying hotels abroad as there will be appreciation in foreign exchange rates and property values.


Kalimullah, who is also a shareholder of Tune Hotels, said ECM Libra may consider buying hotels abroad as there will be appreciation in foreign exchange rates and property values.
Kalimullah: You can rest assured that we will find something good within the next 12 months. Photo: Kenny Yap/The Edge

“These are areas we know we’re good at it,” he said. At the EGM yesterday, the shareholders approved the disposal of ECM Libra Investment Bank to K&N Kenanga for RM875 million to be paid in cash, loan stocks and shares.

Following the sale, ECM Libra proposes to undertake a capital reduction in which shareholders will be rewarded between 63 sen and 68 sen each. Out of the amount, 53 sen will be in cash and the rest is to be paid in Kenanga shares and loan stock.

The disposal of its major profit generating investment bank will leave the company with only its asset management and unit trust business, generating some RM10 million in net profit per year, which is insufficient to sustain the business, Kalimullah said.

ECM Libra will have 12 months after the disposal of its investment bank business to add some new businesses into its portfolio in order to avoid falling into the Practice Note 17 company category.

With zero borrowings on its balance sheet, the company will have the financial muscle for new acquisitions. “You can rest assured that we will find something good within the next 12 months,” said Kalimullah.

When asked if the group’s core business will remain in financial services, he said it is not necessarily the case. “If we wanted it as our core, we wouldn’t have sold off the bank right?

The finance sector is very competitive now. It is hard to compete in financial services without being bank backed. You must be bank backed to to make big deals and big money. Otherwise, you’ll just continue making small money, you won’t be able to grow that way,” he said.

The group’s first quarter ended April 30, 2012, which included profits from the investment bank business, posted a net profit of RM6.04 million, down 56.5% from a year ago. Revenue was also down by 1.8% to RM45.8 million from RM46.6 million a year ago.

This article appeared in The Edge Financial Daily on August 1, 2012.

Posted by jtpc2006 > 2012-08-06 11:50 | Report Abuse

bro Chong,I am sorry for the delay, trying to remember in which part of the Edge that article appeared and get the link for you. I remember it was from the Corporate page of the Edge. Hope this little bit of info helps.

Posted by chong > 2012-08-06 11:59 | Report Abuse

It's ok brother jtpc2006 as I read it yesterday in the financial papers of ECM...yes, it had hidden gems indeed. Reload more today too.cheers.

Posted by chong > 2012-08-06 12:46 | Report Abuse

almost everyday naik harga...good, more to come perhaps to $1.10 by October? Dapat dividend pun naik 1 cent....cheers.

Posted by bigyellow > 2012-08-06 20:43 | Report Abuse

recovery mode..

Posted by grss > 2012-08-06 21:12 | Report Abuse

Those who hang on to the stock afTer ex date have been rewarded. Hehehehehe

Posted by chong > 2012-08-07 01:35 | Report Abuse

Yes, brother grss , there's more to come....cheers

Posted by Vincent Wong > 2012-08-07 21:15 | Report Abuse

益資利董事增持364萬股
大馬 2012-08-07 11:07

（吉隆坡6日訊）最近脫售投資銀行業務的益資利金融（ECM，2143，主板金融組），其董事林建安上週最後3個交易日，先後在公開市場增購364萬2千900股。

根據該公司文告，林建安是在週三至週五（1至3日），分別從公開市場購入19萬3千900股、244萬3千800股，以及100萬5千200股，直接持股增至9千798萬7千510股或11.82%。

他也間接持有該公司的444萬零900股的股票，或是0.54%股權。

在失去核心業務後，該公司即成為PN17陷困公司，並須在1年內尋求新核心業務，否則將面臨除牌厄運。（星洲日報／財經）

http://biz.sinchew-i.com/node/63684?tid=6

Posted by Rajandaran Kannaya > 2012-08-07 21:48 | Report Abuse

Can somebody share the good news.

Posted by chong > 2012-08-08 01:37 | Report Abuse

Brother Rajandaran Kannaya , there's no good news as all good news had been posted by yours truly. The one posted above by brother Vincent Wong just state that the director Lim Kian Onn had bought a certain percentage of ECM shares in the open market. It also state that EC need to seek a new core business within one year, or face delisting .....however, no need to worry too much about this as ECM chairman says that ECM now being loaded with plenty of cash is definitely finding a new core business. And even if they find a new core business, I am sure that there are plenty of suitors who may want to list their private companies by backdoor listing, hee,hee,hee

And ECM still hold a good portfolio of bursa listed shares too like E&O, etc

Cheers & stay on & get rewarded.

Posted by chong > 2012-08-10 16:22 | Report Abuse

woooooooooooooooooooooo

Posted by tansrihew > 2012-08-10 16:25 | Report Abuse

chong......................abalone tonight. harvest a bit for wct.

Posted by shukriechek > 2012-08-10 16:29 | Report Abuse

wct.....next week sure will fly.. I can smell abalone already

Posted by JimYeoh > 2012-08-10 16:30 | Report Abuse

ECM and E&O fly high today..more to come next week..

Posted by grss > 2012-08-10 16:37 | Report Abuse

Any reason for the sudden spike up?

Posted by lam622622622 > 2012-08-10 16:43 | Report Abuse

something is positive,normally friday our market is down trend but today ECM ........ yes definite next week going to fly high .

Posted by justin220 > 2012-08-10 16:43 | Report Abuse

Is there any deal pending between ECM & E & O, both spiked at the same time?

Posted by justin220 > 2012-08-10 16:59 | Report Abuse

or could it be someone mistakenly key in to buy the wrong counter?

Posted by lam622622622 > 2012-08-10 17:10 | Report Abuse

justin220 ,I believe more good news on next week.TRUST ECM .

Posted by gskow > 2012-08-10 17:22 | Report Abuse

i think may be MGO news for E&O:

"Just before the Hari Raya break, Sime Darby had announced it was acquiring a 30% block of E&O at a price of RM2.30 per share when the market price of those shares was RM1.45."

益資利在國內較龐大的投資項目是持有東方（E&O，3417，主板產業組）的逾6%股權。

Posted by chong > 2012-08-10 18:02 | Report Abuse

Yes, brother justin220 , ECM had about 60 million of E&O shares, that means ECM will make an excess of at least $50 million and we the shareholders of ECM will gain from it too....cheers.

Posted by Vivi Yap > 2012-08-10 18:13 | Report Abuse

Brother chong u should come back here, I suppose everyone need your adv thx

Posted by chong > 2012-08-10 18:24 | Report Abuse

Still the decision of the SC can be challenged in court....read this please


The SC said in a statement on Friday that its position on the GO requirement in the Sime Darby-E&O acquisition remained unchanged as per the statement issued on Oct 11, last year.

"The decision is now subject to judicial review which is pending in court," the SC said.


So, are we back to square one in E&O case?


Sister Vivi, you can come to my forum....give me your email address and I will send you the details...thanks.


Today will be my last day here & after that I will always be at my forum......cheers & do take care too.

Posted by Chuchu > 2012-08-10 18:39 | Report Abuse

Brother Chong,

Would you be kind to send your forum details to me. My email ID hot.dagger@yahoo.com

Posted by Joanne Tang > 2012-08-10 18:51 | Report Abuse

Nice works done! Chong, congraduate! Can u give ur forum add?

Posted by ccs999 > 2012-08-10 18:55 | Report Abuse

Hi Chong, can you add me please chunsiong_85@yahoo.com. Thanks.

Posted by chong > 2012-08-10 19:19 | Report Abuse

Sister Joanne Tang , just write your email address here I I will write to you...cheers.

Posted by qianhuik22 > 2012-08-10 19:44 | Report Abuse

hi bro chong, would like to join your forum too if possible? email: qianhuik22@yahoo.com. appreciate it!

Posted by jtpc2006 > 2012-08-10 20:22 | Report Abuse

congrats bro Chong.
You mean you will no longer post in i3investor? pls dont make final decision, take a break if you wish, but come back stronger and refreshed. We need more writings/reviews from you. take care.

Posted by kl foong > 2012-08-10 20:36 | Report Abuse

Bro Chong, I agree with jtpc2006. You gave us invaluable views/comments. We appreciate that very much. Stay with us. This forum need people like you.

Posted by Choy Mee Kien > 2012-08-10 20:41 | Report Abuse

hi bro chong i would like to join your forum too my email: holanfong@gmail.com

Posted by ktthen > 2012-08-10 21:11 | Report Abuse

Hi bro chong, i am new, would like to join your forum if possible. kt_then@hotmail.com

Posted by hw0706 > 2012-08-10 21:24 | Report Abuse

hi bro chong i would like to join your forum too my email: hw0706@yahoo.com

Posted by gskow > 2012-08-10 23:11 | Report Abuse

hi bro chong i would like to join your forum, pls send to my email: guansoon@gmail.com

Posted by chin yin > 2012-08-11 01:18 | Report Abuse

hi bro chong, this is my 2nd request to join your forum. abbycly@hotmail.com