Posted by Jay > 2017-04-12 23:02 | Report Abuse

hmm it's interesting. alcom has cash of RM54m but they are gearing up to pay the RM42m capital repayment. so if they are really that serious in achieving an efficient capital structure, does that mean better dividends ahead?

Posted by Yeap Kar Chun > 2017-04-13 00:19 | Report Abuse

Agree. Theoretically, replacing equity with modest increase in debt, as debt is cheaper even before considering tax benefit. While cash could be an alternative for capital reduction, retaining cash makes sense as lean balance sheet helps to lower cost of debt. Hence, the proposal looks positive, in my view.

Posted by Skpetro123 > 2017-04-13 01:13 | Report Abuse

Agreed. Reduction in share price will become more marketable hence demanding & lower outstanding of shares.

Posted by mamipoko > 2017-04-13 09:18 | Report Abuse

Yes, we should expect to see some dividend payments next.

Posted by paperplane2016 > 2017-04-13 10:52 | Report Abuse

going down? OMG

Posted by mrcrab > 2017-04-13 10:57 | Report Abuse

Buy!!

Posted by Jay > 2017-04-13 13:17 | Report Abuse

again shows you better be careful of stocks that shot up a lot before announcement. sell on news is real in Malaysia

Posted by Yeap Kar Chun > 2017-04-13 13:55 | Report Abuse

Is there a possibility that the biggest shareholder paying out big dividend to self and privatize the company later on? Since last year he has been showing interest.. but god knows...

Posted by Jay > 2017-04-13 14:10 | Report Abuse

unlikely. if he wanted to privatise, he would have done it at lower price before the share rally. this 32c just helps him to service his borrowings when he bought the controlling stake from previous shareholder

Posted by yuanlong57 > 2017-04-16 18:23 | Report Abuse

Is borrowing money (instead of utilizing internal reserves) to implement capital reduction & cash repayment (0.32 sen) so as to build efficient capital structure a good rationale? Is ALCOM so confident that future revenue and profit can sustain debt payment, profit & return decent dividends to shareholders?

One case example which has successfully implemented similar capital reduction & cash repayment (0.075 sen) with subsequent 4-into-1 share consolidation is RCECAP. However, RCECAP (in financial sector) relies entirely on internal funds on the back of good balance sheet with consistently strong growth of earnings.

Posted by mamipoko > 2017-04-17 11:08 | Report Abuse

I guess the management together with the lenders are projecting good growth over the next few years. This is not the usual funding banks would look into but with 0 gearing and a good story behind its growth plans, it is definitely something worth while following.

Posted by yuanlong57 > 2017-04-17 14:15 | Report Abuse

Banks are the most realistic financial institutions. Impairment risks are uppermost in all considerations. The fact that banks are willing to fund the undertaking may lend some weight on its viability.

Posted by yuanlong57 > 2017-04-18 17:55 | Report Abuse

Food for thought:
1. Borrow money to fund capital repayment to shareholders. (Case e.g. ALCOM)
2. Borrow money to give out dividends to shareholders. (Case e.g. MAXIS)

Posted by yuanlong57 > 2017-05-02 23:17 | Report Abuse

Whoa, price starts to climb today. Any special catalyst?

Posted by mamipoko > 2017-05-05 10:15 | Report Abuse

We shall see, annoucement is out end of the month.

Posted by Sebastian Sted Power > 2017-05-09 17:31 | Report Abuse

PROPOSED FINAL SPECIAL SINGLE TIER DIVIDEND OF 20.5 SEN PER SHARE IN RESPECT OF THE FINANCIAL YEAR ENDED 31 MARCH 2017

Posted by Sebastian Sted Power > 2017-05-09 17:31 | Report Abuse

feel like kena TOTO!!!!

Posted by Sebastian Sted Power > 2017-05-09 17:31 | Report Abuse

WELL DONE!!!!

Posted by mrcrab > 2017-05-10 01:06 | Report Abuse

commendable financial result. generous dividend. Well Done!!!

Posted by xiaoxiami > 2017-05-10 01:21 | Report Abuse

this is crazy , 20.5 sen special dividen + 32 sen for capital reduction
40% ++ dividen !!!!
where else to find !!

Posted by stockmanmy > 2017-05-10 01:49 | Report Abuse

wow wow wow

they are borrowing money to pay dividends.

who says Indian shareholders no good.?

when did Novelis bought this company?

Posted by stockmanmy > 2017-05-10 01:49 | Report Abuse

what is going down?

d by paperplane2016 > Apr 13, 2017 10:52 AM | Report Abuse

going down? OMG

Posted by yuanlong57 > 2017-05-10 11:34 | Report Abuse

The proof of the pudding is in the eating. Actual performance says it all, LOUD & CLEAR.
My position taken earlier upon announcement of Proposed Capital Repayment has been vindicated.
BUY, close eyes or go 'fly kite' & wait to collect big BONUS.

Posted by yuanlong57 > 2017-05-10 11:37 | Report Abuse

Mamipoko, results earlier than expected. Let's all go for it! BRAVO ALCOM!

Posted by The_Reds > 2017-05-11 07:53 | Report Abuse

Hi..im new to this counter..attracted by its latest qr result n proposed dividend...is it good to enter now?

Posted by PlsGiveBonus > 2017-05-11 09:25 | Report Abuse

Anticipate gap up
:))

Posted by zoomsbooms > 2017-05-11 09:28 | Report Abuse

already gap up..next tongherr..

Posted by The_Reds > 2017-05-11 10:26 | Report Abuse

Gap up edy..cant enter..haha

Posted by iphone4 > 2017-05-11 12:22 | Report Abuse

Fren, if u read the thread back to 2014 there was a lot talk on pro and con abt this Co. Back then it was 60+ sen and most ( of them ) holding it for the 5sen divd. Those guys , if still holding now it, is laughing to the bank.

Posted by yuanlong57 > 2017-05-11 16:40 | Report Abuse

Not only laughing to the banks. Will be carving golden smiles in their sleep, too.

Posted by chua5888 > 2017-05-15 05:05 | Report Abuse

yuanlong57 对fpgroup 有何看法?

Posted by chua5888 > 2017-05-15 05:06 | Report Abuse

yuanlong57 bjasset

Posted by stockmanmy > 2017-05-16 15:39 | Report Abuse

I bought at $ 1.33, top up at $ 1.37

Why I buy?

Because they will not propose to give out so much cash unless they are very confident of their 2017 profits and cashflows

This is the X factor, not just the dividends.

Posted by Wei Xidu > 2017-05-16 15:43 | Report Abuse

Agreed . 2017 profit gao gao . Red bull . 1.60

Posted by noah > 2017-05-16 16:58 | Report Abuse

Few months ago, the new majority shareholder buy a 59% stakes from previous shareholders at RM0.61 per share and triggering a MGO.
Where most people did not accept the MGO as both director and IB advice public to reject the offer.

We assume they buy in 59% stakes @RM0.61/share.
With the special divvy RM0.20 and RM0.32 capital repayment.
We can figure out the new shareholder just fork out RM0.09/share for the whole company.

A brilliant deal isn't ?

Posted by zoomsbooms > 2017-05-16 17:07 | Report Abuse

sorry but; what is MGO?

Posted by stockmanmy > 2017-05-16 18:32 | Report Abuse

oah

you are wrong...I check the 2014 Annual Report...Novelus already the 59% shareholder until now.

Posted by noah > 2017-05-16 20:57 | Report Abuse

stockmanmy.
Do take note that the AR you read is not up to date.
Novelus used to be a shareholder, they are no longer the shareholder, as well as those directors you see their faces on AR.

you can follow the announcement from last year regarding the purchase of Alcom stake by Can-One boss from Novelus subsequently the MGO etc to get a better picture of how the whole story unfold..

Posted by noah > 2017-05-16 20:59 | Report Abuse

MGO is mandatory general offer trigger when a party acquire >33.3% of shares in a listed entities, it is mandatory for the party to extend the offer to purchase all remaining shares from the remaining shareholders

Posted by noah > 2017-05-16 20:59 | Report Abuse

there is a major boardroom change taken place few months ago

Posted by noah > 2017-05-16 21:00 | Report Abuse

http://www.malaysiastock.biz/Company-Announcement.aspx?id=930315

Posted by yuanlong57 > 2017-05-16 22:38 | Report Abuse

To WHAT all these stories point to? The whole exercise of the "Proposals" is meant to benefit or rather to enable a big shareholder to 'mine' the company rich cash holdings?

Posted by Wei Xidu > 2017-05-17 12:33 | Report Abuse

Alcom. Gap up . Bomb up

Posted by zoomsbooms > 2017-05-17 16:14 | Report Abuse

how is the capital repayment works out to the shareholders?does it mean if the proposal approved, then s/holders get 32cents back?

Posted by stockmanmy > 2017-05-17 16:38 | Report Abuse

KUALA LUMPUR: Kian Joo Can Factory Bhd and Box-Pax (M) Bhd managing director Yeoh Jin Hoe will launch a takeover of Aluminum Company of Malaysia Bhd (Alcom) after buying a 59.16% stake.


so he gets Alcom for free and gets to control the supply of Aluminium to his companies.

thanks

In that case no more reason to buy.

Posted by Icon8888 > 2017-05-17 16:44 | Report Abuse

earning not sustainable

their raw material aluminium's price going through the roof

Posted by Icon8888 > 2017-05-17 16:45 | Report Abuse

http://www.indexmundi.com/commodities/?commodity=aluminum&months=60

I provide objective analysis

Posted by Icon8888 > 2017-05-17 16:54 | Report Abuse

Aluminum ascent is structural, due to PRC government act to clean up environment thereby curtailing production. Goldman expects continue upward trnd until at least next twelve months. You trust manmy or trust Goldman ?

http://www.cnbc.com/2017/04/27/aluminum-set-to-rise-on-china-supply-side-reforms-goldman-sachs.html

Posted by speakup > 2017-05-17 16:55 | Report Abuse

aluminium companies to whack:
pmetal
alcom
pa
lbalum

pick one and whack giler

Posted by Icon8888 > 2017-05-17 17:03 | Report Abuse

You need to know which one is beneficiary which one is victim

Company that use aluminum as raw material will get whacked big time

Alcom is one of those. Now you know why there is always a big seller waiting for you

It could be the MD