Posted by setia2u > 2020-06-08 19:46 | Report Abuse

Why giving out 1,85 when you just need to give 80 sen and keep the 1.05?

Posted by Smart Investor > 2020-06-09 08:27 | Report Abuse

https://www.klsescreener.com/v2/news/view/686157

Posted by Smart Investor > 2020-06-09 08:29 | Report Abuse

Focus on Bstead , the price will push up to $0.8 today

Posted by Plantermen > 2020-06-09 10:23 | Report Abuse

Check out the star & bloomberg news reason the compelling reason LTAT wants to take BSTEAD private

Posted by AllanTingAS > 2020-06-09 21:05 | Report Abuse

Once the company announce on the details of privatisation. It will cross the 0.70 barrier. Can slowly to collect by tomorrow for some study pocket money.

Posted by ImCK > 2020-06-10 00:21 | Report Abuse

i dont think so it will sucessful deal so many fund inside

Posted by BousteadInvestor > 2020-06-10 10:01 | Report Abuse

every day Smart says push but why no push in or push up?

Posted by Plantermen > 2020-06-10 11:04 | Report Abuse

LTAT holds 60%, KWAP 10%, KWSP 5%, other related Glic 5%, unit trusts and IB s another 5-6 %0. Total already 85. Free float 15 % balance. Easily take private if Go ahead

Posted by 817065 > 2020-06-10 11:45 | Report Abuse

LTAT not allowed to vote...... they are an interested party.

Posted by calvintan_eng > 2020-06-10 12:50 | Report Abuse

An analyst with a local research firm says Boustead’s stock has been trending downwards, from RM3 in October 2017 to as low as 35 sen in March this year, before rebounding to 63 sen last Thursday. Assuming an investor bought 1,000 Boustead shares at RM3 per share and is still holding the shares today, he would be sitting on a paper loss of RM2,370.

“This perhaps reflects the deteriorating fundamentals of the group, which has been making losses since the financial year ended Dec 31, 2018 (FY2018). On the other hand, the indicative offer price of 80 sen represents a steep discount to the latest book value per share of RM1.85, which, of course, would erode further if the losses persist,” he tells The Edge.

“Therefore, in the short term, the offer price seems reasonable, given the limited potential upside amid the weak fundamentals. But in the longer run, if Boustead is able to turn around its fortunes, the stock may be worth more than 80 sen per share,” the analyst notes.

“There are pros and cons for a company to be listed or taken private. In this case, if LTAT has big plans to overhaul Boustead with restructuring measures that may lead to more short-term pain, it will be easier to implement the plan as a private entity. On the other hand, if they want the flexibility for Boustead to raise funds from the capital market, then Boustead should remain listed,” he adds.

While LTAT did not disclose the reason for seeking to take the group private, Boustead’s stock valuations remain depressed. Its shares have lost 44% of their value in the last 12 months versus the FBM KLCI’s decline of 10%.

While depressed valuations might be an attractive reason for LTAT to take Boustead private, the move might not be the best from the point of view of minority shareholders, given the 57% discount to Boustead’s book value of RM1.85 as at Dec 31, 2019.

Bursa Malaysia filings show that Kumpulan Wang Persaraan (Diperbadankan) (KWAP) and the Employees Provident Fund (EPF) Board are Boustead’s second and third largest shareholders, holding 9.19% and 4.99% respectively.

The analyst believes that whether Boustead’s existing shareholders would be willing to let go of their stake would depend on internal considerations of factors such as their holding period and whether they are able to find better investment opportunities elsewhere. “Interestingly, the EPF sold some shares last December and early January when Boustead’s share price was hovering around 90 sen to RM1,” he says.

Kenanga Research says it was not overly surprised by LTAT’s proposal to take Boustead private, considering that the latter has been facing mounting debts and losses over the past few years.

The research firm estimates that the privatisation would cost Boustead’s major shareholder RM658 million, assuming that this takeover is subject to the Securities Commission Malaysia waiving the mandatory general offers that this may trigger on other listed units that the group owns.

Boustead has three listed companies under its stable — Boustead Heavy Industries Corp Bhd (BHIC), Pharmaniaga Bhd and Boustead Plantations Bhd, with a shareholding of 65%, 56.09% and 57.42% respectively. It also holds a 20.76% stake in Affin Bank Bhd.

“At an indicative 80 sen per share, the privatisation works out to 0.48 times FY2019 net tangible assets of RM1.66 per share, which is lower than its historical average of 1.1 times,” Kenanga Research said in a note to clients last Friday.

The privatisation would also help LTAT restructure its businesses outside the scrutiny of public shareholders and regulators. The fund recently embarked on its overall transformation journey under its five-year strategic plan beginning 2019, while Boustead is undergoing its own turnaround programme.

Last year, LTAT’s performance was impacted primarily as no dividends were declared by Boustead and Affin Bank, compared with RM124.2 million in dividends received in FY2018. The fund was only able to announce better dividends in FY2019 of 2.5% compared with FY2018’s 2% as a result of a waiver from paying dividends on the government’s contribution to the fund for FY2019.

The past two years, however, have also been tumultuous for Boustead. Dividends have not been forthcoming as the group has not been making a profit since FY2018, impacted by losses and impairments incurred in the heavy industries and plantation divisions.

The group widened its net loss to RM1.28 billion in FY2019 from RM554.3 million the previous year, after taking an impairment charge of RM1.33 billion for its assets from the heavy industries and plantation segments. In addition, the pharmaceutical division was affected due to recognition of the remaining unamortised Pharmacy Information System costs amounting to RM247 million. Revenue rose by a marginal 1.4% year on year to RM10.33 billion.

https://www.theedgemarkets.com/article/rm660m-deal-privatise-boustead-holdings

Posted by calvintan_eng > 2020-06-10 12:54 | Report Abuse

i heard some other party interested to acquire boustead as well.anyone can show any fact here?

Posted by Glaceau > 2020-06-10 21:21 | Report Abuse

Logically, it will soon privatised so that they can do whatever they wish behind closed door.

Posted by abcb > 2020-06-10 22:47 | Report Abuse

There will be major announcement by end of the month
Stay tunes!

Posted by AnchoviesswimwithSha > 2020-06-10 22:51 | Report Abuse

source of news @abcd?

Posted by abcb > 2020-06-11 00:36 | Report Abuse

Boustead Heavy Industries returns to the black on heavy MRO activities

Posted by Kasiuntung11 > 2020-06-11 07:37 | Report Abuse

https://www.theedgemarkets.com/article/boustead-heavy-industries-returns-black-higher-mro-activities?type=corporate

Posted by Value Investor Coo1eo > 2020-06-11 08:35 | Report Abuse

bastard

Posted by SuperPanda > 2020-06-11 16:57 | Report Abuse

coming qtr will be green, bought back .66 tomorrow buy again if below .65

Posted by SuperPanda > 2020-06-11 17:33 | Report Abuse

yeah agree, you wait 25c then

Posted by AllanTingAS > 2020-06-11 22:09 | Report Abuse

Slowly buying batch by batch. After all, control by LTAT and need to be look after.

Posted by LKSGSH > 2020-06-11 22:32 | Report Abuse

I though today announces the QR , at the end is no .....

Posted by LKSGSH > 2020-06-11 22:34 | Report Abuse

BHIC QR return to good , should be Bstead QR also is good

Posted by BousteadInvestor > 2020-06-12 00:51 | Report Abuse

What price will it be

Posted by Trapps > 2020-06-12 09:56 | Report Abuse

Hihihi

Posted by BousteadInvestor > 2020-06-12 11:43 | Report Abuse

.605 briefly. who dapat?

Posted by calvintan_eng > 2020-06-15 10:36 | Report Abuse

boustead betul2 struggle

Posted by winmal > 2020-06-15 14:56 | Report Abuse

announcement soon... good time to buy more

Posted by AllanTingAS > 2020-06-15 21:50 | Report Abuse

Don't worry about this company as LTAT would let it burst. Slowly collect in batch once hit 0.60 ! No issue to make profit and minority will agree to accept once price is lower.

Posted by LKSGSH > 2020-06-16 23:21 | Report Abuse

BHIC today awarded contract 154 million

Posted by SuperPanda > 2020-06-16 23:45 | Report Abuse

tomorrow rally another few cents up for sure, this time can hold

Posted by Kasiuntung11 > 2020-06-17 07:12 | Report Abuse

https://www.theedgemarkets.com/article/bhic-awarded-rm1543m-submarine-contract-mindef

Posted by abcb > 2020-06-17 16:48 | Report Abuse

Financial quarter report to be release very soon

Posted by LKSGSH > 2020-06-17 19:24 | Report Abuse

Should be good QR result

Posted by hglee101 > 2020-06-17 22:03 | Report Abuse

looking at the price movement, i doubt LTAT interested to take private

Posted by ronnie2u > 2020-06-18 01:29 | Report Abuse

if takeover don't materialiase, won't LTAT has more to lose... Army no more dividend

Posted by CUTLOST > 2020-06-18 16:40 | Report Abuse

They are interested to buy it at half of the current price.. It's mean 31.5cts not include higher debt borrowing.

Posted by PenangInvestor > 2020-06-19 12:17 | Report Abuse

hopefully can have a green report and activate back the dividend.

Posted by abcb > 2020-06-19 12:24 | Report Abuse

Confirm take private at 0.90?

Posted by abcb > 2020-06-19 12:26 | Report Abuse

Good news to be announed very soon

Posted by PenangInvestor > 2020-06-19 12:26 | Report Abuse

0.90 is jackpot ler..

Posted by abcb > 2020-06-19 13:37 | Report Abuse

Waiting to hit jackpot

Posted by Ronaldh > 2020-06-19 13:51 | Report Abuse

Yes. Waiting to hit jackpot

Posted by SuperPanda > 2020-06-19 14:03 | Report Abuse

report most likely to be green, bhic and pharmaniaga very good rpt, bplant lower loss

Posted by ronnie2u > 2020-06-19 14:06 | Report Abuse

Offer 80 sen also no much movement... better takeover offer must vroom higher hahaha

Posted by SuperPanda > 2020-06-19 14:06 | Report Abuse

once it break 70c, it will move further up, no more 60c++ after that

Posted by BousteadInvestor > 2020-06-19 14:40 | Report Abuse

Will not reach Rm1?

Posted by SuperPanda > 2020-06-19 15:20 | Report Abuse

bhic has return to black and awarded new contract, pharmaniaga will be in good earnings rest of the year due to covid, bplant 50:50 in recovery but sure on better side

>rm1 next year not impossible

even if not rm1, 80c take over very good as my ave is 63c

Posted by ivanlau > 2020-06-19 19:23 | Report Abuse

every quarter keep losing money...... what a " wonderful " GLC performance.......

Posted by SuperPanda > 2020-06-19 19:33 | Report Abuse

wrong prediction.. sigh. overlook property, trading and fuel business division.. all are bad

bhic return to black but actually fundamental still bad, drag parent for additional loss too

only plantation and pharmaceutical doing good

well we let the market decide next week

Posted by CUTLOST > 2020-06-19 20:07 | Report Abuse

It's normal losing every qtr.. Bcoz investor money