Posted by SincereStock > 2021-09-22 12:24 | Report Abuse

not that I hope the SCR will fail, I actually loved MMC a lot, this counter give me the most profit ever since I invested in stock market, ASIAPAC being the second.

but at this point, since someone might have enough mother share and reason to vote down the SCR, I think it is much safer to park my money in other counter like SURIA, which has very very limited downside and without worrying any privatization fail risk, instead, SURIA has a chance of getting privatization offer, similar situation like MMC before privatization, priced below RM1.2, NTA RM3.2

just in case the SCR is being voted down, I will surely be glad to reenter this counter once more at price prior privatization announcement (Rm1.3)

Posted by stockraider > 2021-09-22 12:27 | Report Abuse

How can they vote down when PNB is supporting MMC side leh ?

Btw Cw Issuer generally make money by keeping it low....so that people...lose monies when expire mah!


Posted by SincereStock > Sep 22, 2021 12:14 PM | Report Abuse

@stockraider no, at this point CW issuers plan is not to keep it low, if they got enough mother share they will vote down the SCR, and since if they know they can do that, now what they are doing is profit taking instead of trying to keep the price low, the price will automatically be limit down the next day the SCR is rejected

Posted by SincereStock > 2021-09-22 14:23 | Report Abuse

@kinuxian hard to say imo, they mess up with CW issuers first in the first place for offering privatization, any chance they might miscount the actual mother shares holding by CW issuers, CW issuers will hold significant amount of mother share if they want to control the share price, with or without the privatization

Posted by dompeilee > 2021-09-22 15:32 | Report Abuse

Looks like recovered a bit. Still, better to be OUT wishing I was in rather than IN wishing I was out !

Posted by stockraider > 2021-09-22 15:41 | Report Abuse

U cannot make money having have bake investment principle loh!

Posted by dompeilee > Sep 22, 2021 3:32 PM | Report Abuse

Looks like recovered a bit. Still, better to be OUT wishing I was in rather than IN wishing I was out !

Posted by Syndicates > 2021-09-22 17:37 | Report Abuse

Got info from my flen. One announcement is pending. I only can tell this. Kikikiki

Posted by SincereStock > 2021-09-22 17:41 | Report Abuse

@Syndicates your statement more like trying to inflict fear more than anything without any basis

btw, of course 1 announcement is pending, the result of the voting, and if it is the last announcement, then that means the voting passed. otherwise there would be a lot more future pending announcement from this company

Posted by KeyBoardWarrior84 > 2021-09-22 18:52 | Report Abuse

What info from flen? Egm around the corner, annc of result of egm?

Posted by taitaumau > 2021-09-22 23:55 | Report Abuse

Will PNB support SCR?
- I have no answer
- Your guess is as good as my guess

My views are:
1. TSSM has given ample time to BOD for consideration.
Yes, BOD has not decided yet upon expiry of 1st dateline, for reasons ?
BOD finally resolves (simple majority or unanimously ?) within extended timeline to call EGM

** highly possible that PNB has given its consent via his board representative/s **

2. RECAP: Perak Corp & Zecon
(where SCR are withdrawn - NOT voted down in EGM)
- the blocking shareholders/individual (as largest non-interested shareholders) have the courtesy
to make known their intentions to object prior to issue of Notice of EGM.

** PNB, being 2nd largest shareholder/participating shareholder, does not make known his
decision before EGM Notice is issued **
** A positive sign **

- I hold some MMC shares and have no insider info
- NO a buy or sell call
- My view may be wrong, TQ

Posted by Inv3st0r69 > 2021-09-23 07:38 | Report Abuse

dont think SM/MMC do this unprepared, cos fees to advisers already cost them a million++.. the CFO also ex PNB, sure have already gauge the risk appetite of PNB

Posted by Inv3st0r69 > 2021-09-23 07:45 | Report Abuse

PNB has such a significant stake in this Co and thats not a news.. dont think they will leave it purely with chances as they would have strategise with their advisers earlier on, on how to approach this SCR.. just my humble opinion

Posted by Inv3st0r69 > 2021-09-23 07:49 | Report Abuse

furthermore, this exercise looks like an interim proposal as SM had bigger plan for this Co down the road.. with the existing conglomerate discount and also this company's existing RPT, their port business will never achieve wesport's market cap.. it is only natural to assume they would have considered this

Posted by Inv3st0r69 > 2021-09-23 09:43 | Report Abuse

another round of selling. someone just dont want to take any risk

Posted by Syndicates > 2021-09-23 09:51 | Report Abuse

SincereStock @Syndicates your statement more like trying to inflict fear more than anything without any basis

btw, of course 1 announcement is pending, the result of the voting, and if it is the last announcement, then that means the voting passed. otherwise there would be a lot more future pending announcement from this company
22/09/2021 5:41 PM

you have clear mind, can read through what i'm telling. unlike of the others who kept pm me to shut up, when i comment on the risk of speculating this stock earlier. if i have no interest on this stock, i wouldn't spend my time in here. by the way the pending announcement is true kikikiki

Posted by Syndicates > 2021-09-23 09:55 | Report Abuse

price dropping day by day ahead of egm is better than gap down/gap up when the things turn real, your winning margin can be enlarged while losing margin reduced. no need to bash others for not tanking the price

Posted by Inv3st0r69 > 2021-09-23 11:03 | Report Abuse

so syndicates, dont la give hint like, this, if its bad news just tell bad news, we can decide whether to believe or not

Posted by TheContrarian > 2021-09-23 11:11 | Report Abuse

Possibly large number of proxy forms has been received voting against the SCR?

Posted by ziyang8896 > 2021-09-23 11:43 | Report Abuse

Same party play the same games as last few times,keep on pressing down the price day by day to make it looks like something going to be happened. Actually now Mmc is no more liquid in the market,most of the investors already submitted the proxy form. Of course still can buy or sell but should be less.If really vote against by PNB then no way to run.. instead of speculate the news and the share price,why not just wait for the answer next Thursday?

Posted by ziyang8896 > 2021-09-23 11:46 | Report Abuse

I still believe the EGM will go through especially the current market,for investors who wish to vote against should throw before EGM, otherwise how can they able to maintain the price like currently if the deal failed.

Posted by sethoylo > 2021-09-23 11:54 | Report Abuse

Just buy if you believe the value of MMC

Posted by SincereStock > 2021-09-23 12:01 | Report Abuse

@sethoylo no, at this point only buy if you believe SCR will pass, no point to talk about value anymore when it is all about the result of SCR now, value is a thing only IF after SCR failed

Posted by Inv3st0r69 > 2021-09-23 12:02 | Report Abuse

true @SincereStock

Posted by ValueInvesting > 2021-09-23 12:02 | Report Abuse

I fully agree with what ziyang8896 said and bought some more at RM1.74 earlier this morning. I don't have any insider info, but in my view based on publicly available info, I remain confident that the SCR will go through as it remains a crucial part of Tan Sri SM's grand plan to undertake the corporate restructuring required to list the port section of MMC. To me, this is a much more concrete and sensible reason to trade MMC shares as compared to pure speculation or rumours posted by anonymous commentators here.

Posted by SincereStock > 2021-09-23 12:31 | Report Abuse

all who believe the value of MMC like myself have already bought MMC prior the privatization announcement, some already taken profit, only those who firmly believe SCR will pass should stay

those retailers who stay and plan to vote against and hope the SCR to fail (so that price can be higher than RM2 in the future) are the delusional ones.

Posted by SincereStock > 2021-09-23 12:36 | Report Abuse

with that being said, only CW issuers have a strong and convincing reason to vote against the SCR, so the final question is do they have enough mother shares to vote down the SCR?

Posted by ziyang8896 > 2021-09-23 13:13 | Report Abuse

For my view is the CW issuer normally will do hedging for mother share to minimize the risk. Maybe direct involved some but should be not much. Look at MAA SCR failed case..it's share price hit over offer price almost a month before EGM .. investors who bought higher than offer price sure vote against to ask for higher price. Conclusion is when you see the price hit over the offer price for some times..the risk to fail is getting high.

Posted by SincereStock > 2021-09-23 13:25 | Report Abuse

@ziyang8896 if I am not wrong, CW issuers are the one that have been controlling the price of this counter, prior and after privatization announcement, it have been the same style, so I believe should be the same entity, price DIP prior some of the recently expired CWs convinced me more that they are behind controling the price.

if that is the case, they definitely holding significant amount of mother shares to be able to control the price like this

Posted by ziyang8896 > 2021-09-23 13:26 | Report Abuse

Good luck to who still hold and voted.

Posted by idkdontaskmelol > 2021-09-23 14:52 | Report Abuse

idk y got ppl keep blame CW. Last time glove drop also blame CW. i remember kaywhywhy oso blame CW. Wut oso blame cw aiyoyo. Now that guy here say sold mmc dy, but most active here, so weird. kikiki

Posted by SincereStock > 2021-09-23 15:05 | Report Abuse

why blame CW? price drop, siapa untung? privatization fail, siapa untung?

Posted by Johnzhang > 2021-09-23 16:19 | Report Abuse

Don’t you think what is going on is a psychological warfare on minorities? Especially when the Advisor rated it unfair with over $3 EV

Posted by SincereStock > 2021-09-23 16:41 | Report Abuse

@johnzhang highly possibility also as of now without much other more reasonable possibilities

Posted by 500Bilis > 2021-09-23 16:52 | Report Abuse

tmr top up again fall if below 1.70

Posted by ziyang8896 > 2021-09-23 17:00 | Report Abuse

these scenario exactly same as happened in 27/7 before BOD accepted.press down to 1.54 then only rebound. This time should be totally different caused BOD and SC already approved.EGM just around the corner,no u turn. The only thing is insider news that the deal will fail from registrar's office or from PNB,but I hardly believe it.of cause anything can happen.

Posted by ValueInvesting > 2021-09-23 17:40 | Report Abuse

@SincereStock, I think the theory that the call warrant issuers are pushing down the share price to block the SCR simply makes no sense for the following reasons:-

1. As quite a few commenters have already pointed out, usually the warrant issuers would have hedged their position to limit their exposure to a sudden increase in the underlying share price, so they wouldn’t really be affected by the SCR succeeding. And even if they did not hedge (which is super unlikely), the warrants are currently trading at such a low price compared to the SCR price of RM2.00 that it would be much easier, cheaper and cost effective for the warrant issuers to just simply buy back the warrants issued if necessary.

2. As for the theory that warrant issuers are holding more than 10% of the 1,468mil “Entitled Shares” in MMC (which is more than the transacted warrants) and they would vote down the SCR to cause the share price to fall below the exercise price of the call warrants, this also doesn’t make financial sense at all, since (a) they would lose a ton of money due to the fall in the price of MMC share (don't forget that in this theoretical situation, they would also be substantial MMC shareholders), and (b) they would make much more money from the SCR succeeding as compared any downside exposure that they may have in the transacted warrants.

3. Anyway, it has also been pointed out that pushing down the share price of MMC now actually makes the SCR offer price of RM2.00 appear even *more attractive*, which would encourage MMC shareholders to vote "Yes" on the SCR offer instead of "No". So if the plan is to push down the share price of MMC to block the SCR, then I am really thankful to the whoever came up with such an “ingenious” plan lol.

Posted by ziyang8896 > 2021-09-23 18:51 | Report Abuse

I don't understand why there is Mmc share related to CW? Issued CW should be nothing to do with holding any mother share right ? Issuer no need to hold a single share still can issue many Mmc CW

Posted by ziyang8896 > 2021-09-23 18:54 | Report Abuse

Logically analyze PNB should be vote for,if not they no need to wait until EGM.they will reject the offer directly before launched the SCR

Posted by ValueInvesting > 2021-09-23 19:17 | Report Abuse

It is possible that the drop in MMC share price could be because of insider info that the SCR will fail for some reason. It could also be operators/syndicates manipulating the share price and market sentiment to squeeze out retailers and collect cheap shares before the EGM, or any other reason you can think of. As someone who doesn't have any insider info and is not part of any operator/syndicate's scheme, I can only make an educated guess, and based on what I can see there is still nothing concrete to suggest that the SCR will fail:-

1. I think that people are reading too much into the MMC BOD's previous delay in accepting the SCR proposal. The delay was probably caused by the recent lockdowns which would have made everything more difficult and time consuming, especially the independent adviser who has to conduct a due diligence exercise before completing their report.

2. News of MMC’s plan to list its ports business has been brewing for years now. The SCR, being the first concrete step towards the port business listing that TSSM has taken after planning for so long, must have been carefully considered and coordinated. With TSSM’s connections, I refuse to believe that this SCR was done without the blessing of PNB, EPF and other substantial MMC shareholders.

3. This is also clearly a great timing to list the port business as the overall performance and sentiment in the logistics business is one of the most positive it has been for years. I believe that TSSM would want to complete the listing exercise as soon as possible to take advantage of the positive sentiment and it would make no sense for him to waste time with the SCR unless he is confident that it would succeed. A failed SCR would not only damage TSSM’s own reputation, it may also jeopardise the port listing plan itself.

4. Most important of all, the offer price of RM2.00 is a great price! Even though the independent adviser deemed the offer price of RM2.00 to be “not fair” because it is lower than their estimated value of MMC’s share price of RM3.32-RM3.41, the “fair value” that the market is willing to pay for a MMC share is clearly lower than RM2.00 as it is being traded lower than RM2.00 today and for the more than 3 years now.

5. Anyway, I also think that someone who genuinely has insider info would be quietly shorting MMC shares instead of writing cryptic messages here about the SCR and exposing themselves for no good reason. It seems more likely that such people are just trolling and having fun causing panic.

Posted by ziyang8896 > 2021-09-23 19:23 | Report Abuse

Value investing@ good analyze. Hopefully everything goes smoothly in EGM

Posted by dompeilee > 2021-09-23 19:34 | Report Abuse

If the SCR fails, it COULD conceivably drop back to $1, where it started to move up from. In fact, tabing haji sold all their shares below $1 in 2019-2020.

Posted by ValueInvesting > 2021-09-23 19:42 | Report Abuse

@dompeilee Yes, I agree fully with what you said.

The fact that Tabung Haji was willing to sell their shares below RM1.00 and that there is a risk that MMC's share prices may drop sharply if the SCR fails, actually shows that MMC shareholders are MORE LIKELY to accept the offer price of RM2.00 and for the SCR to succeed.

Posted by SincereStock > 2021-09-23 21:24 | Report Abuse

RM1 if SCR fails? I think not, the lowest I think it can go down if SCR fail is RM1.20, simply due to the latest QR

Posted by emsvsi > 2021-09-23 21:35 | Report Abuse

SM is laughing at you guys lol so easy to shake you and vote the SCR through

Posted by ziyang8896 > 2021-09-23 22:17 | Report Abuse

I think is the operator goreng down the share then pick up at the lowest side to earn in between or short selling.if you have extra money think about to collect extra for very good return.so long you believe PNB will vote FOR

Posted by Cheah5555 > 2021-09-23 22:18 | Report Abuse

It's quite strange that a privatisation exercise take such a long time and the price keep dropping. Normally, a major shareholder would want to finalise the deal as earlier as possible to avoid possible hiccups and fail subsequently, but not in this case & we does not know the real reasons behind. I sold out the counter earlier with handsome gain, this is a solid company and is definately undervalue at RM2 offer price. Base on my experience, insiders would react earlier on insider news & reflect directly on the price movement! Just my experiece sharing,others might think otherwise.

Posted by Mohd Yazid Mohd Ali > 2021-09-24 09:39 | Report Abuse

Today limit up

Posted by secret1q > 2021-09-24 10:19 | Report Abuse

another low today. may challenge previous low of 1.5x

Posted by SincereStock > 2021-09-24 10:50 | Report Abuse

@mMohd Yazid Mohd Ali macam macam limit up lagi o, privatization pun RM2 saja

Posted by 500Bilis > 2021-09-24 11:14 | Report Abuse

Many are not confident but some may think it’s even higher than 2.00

Posted by TheContrarian > 2021-09-24 11:42 | Report Abuse

Those people who buy from today can't vote and those who sell from today can vote.