Posted by Valgrovest > 2021-07-01 19:03 | Report Abuse

Maybe by end tomorrow they announce something....at the moment still brewing!

Posted by mfbs > 2021-07-01 21:49 | Report Abuse

No more privatization. LTAT no money anymore. Will go 60 cent soon...

Posted by Wawai Samah > 2021-07-02 00:29 | Report Abuse

relax...the game still on..

Posted by mfbs > 2021-07-02 09:39 | Report Abuse

relax 60 cent coming

Posted by Marx97 > 2021-07-02 11:42 | Report Abuse

70 cent soon.

Posted by Morganfreemen > 2021-07-02 11:45 | Report Abuse

80 cent soon

Posted by mfbs > 2021-07-02 12:33 | Report Abuse

Conman

Posted by limkokthye > 2021-07-02 13:27 | Report Abuse

big volume coming, good news come

Posted by mfbs > 2021-07-02 13:32 | Report Abuse

No more privatization

Posted by lofan73 > 2021-07-02 13:47 | Report Abuse

mfbs > Jul 1, 2021 3:27 PM | Report Abuse

rubbish cum toilet paper

mfbs > Jul 2, 2021 9:39 AM | Report Abuse

relax 60 cent coming

Posted by mfbs > Jul 2, 2021 12:33 PM | Report Abuse

Conman

mfbs, u keep kutuk Boustead but still hang out here. so concern about boustead business. u really help traders investors here. dont hold anymore, correct?

Posted by simonscs > 2021-07-02 13:56 | Report Abuse

why keep saying this company not good?

Posted by lofan73 > 2021-07-02 14:29 | Report Abuse

the share drop means not good

Posted by mfbs > 2021-07-02 15:24 | Report Abuse

No hope..

Posted by Morganfreemen > 2021-07-02 16:02 | Report Abuse

mfbs STFU

Posted by mfbs > 2021-07-02 16:15 | Report Abuse

Wow

Posted by brennan > 2021-07-02 16:27 | Report Abuse

what STFU??? today stay the price 0.665. No Power Up

Posted by mfbs > 2021-07-02 16:39 | Report Abuse

Many coneman here

Posted by Morganfreemen > 2021-07-02 17:07 | Report Abuse

Shut the f**k up

Posted by mfbs > 2021-07-02 17:20 | Report Abuse

Hahaha

Posted by Mikewg > 2021-07-02 19:36 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3388099

Posted by bobochacha > 2021-07-02 19:53 | Report Abuse

Right issue coming if no privatisation or anything. How do a fewbhundred million in bank can settle a few billion of currrent liabilities

Posted by brennan > 2021-07-02 19:54 | Report Abuse

this is good news for BStead.

Posted by Wawai Samah > 2021-07-02 20:32 | Report Abuse

Turning point for bstead perhaps

Posted by Morganfreemen > 2021-07-02 22:14 | Report Abuse

Yea very good news ! Monday up up up !

Posted by TheContrarian > 2021-07-04 18:28 | Report Abuse

I am wondering why you people bought into Boustead?

Posted by Ahmadahmad88 > 2021-07-04 21:04 | Report Abuse

Dreaming of privatization.

Posted by mfbs > 2021-07-04 22:25 | Report Abuse

Hahaha

Posted by Morganfreemen > 2021-07-04 23:50 | Report Abuse

Perhaps digital banking is far better than privatisation ….?

Posted by stockraider > 2021-07-05 08:08 | Report Abuse

Potential privatization loh!

Posted by mfbs > 2021-07-05 09:08 | Report Abuse

Hahaha..

Posted by Karlos > 2021-07-05 13:06 | Report Abuse

Be extra careful of the balance sheet of Boustead. The Islamic Bond Sukuk. having a value of RM 609.3 m is considered part of equity instead of debt or liability. So on paper for example the gearing would appear low and causes other financial figures to be distorted as well. Just a reminder though.

Posted by mfbs > 2021-07-05 13:12 | Report Abuse

Nice advice

Posted by Karlos > 2021-07-05 13:56 | Report Abuse

This so called perpetual bond is like a hidden time bomb, not seen by most people but can caused a lot of damage especially when the company has to redeem it or pay ever increasing higher interest penalty if not redeemed as agreed. This perpetual will soon coming for redemption toward this year end ! With very high debts burden and continuing losses, the future scenario is quite scary to say the least.

Posted by limkokthye > 2021-07-05 14:40 | Report Abuse

bstead come on ,

Posted by mfbs > 2021-07-05 14:45 | Report Abuse

Digital banking license also share go down...rubbish

Posted by Karlos > 2021-07-05 16:27 | Report Abuse

Now Boustead paying the sukuk at as high as 9.6% pa and if not redeem the interest will go to as high as 15% pa.

Posted by Karlos > 2021-07-05 16:32 | Report Abuse

The high yield for the sukuk indicate that basically it is a junk bond especially now in the era of very low interest rate.

Posted by TheContrarian > 2021-07-05 18:56 | Report Abuse

Yes, I remember reading about it many months ago and have forgotten about it. It's a time bomb unless they re-negotiate the terms. Who holds the sukuk?

Posted by xcu843 > 2021-07-05 23:48 | Report Abuse

Rubbish again

Posted by mfbs > 2021-07-06 08:26 | Report Abuse

Not only me say Rubbish ya

Posted by Johnzhang > 2021-07-06 09:44 | Report Abuse

The perpetual bond is an instrument with NO maturity date . I think the call to redeem it only rest with the issuer , not the lender. For this reason , the coupon rate for perpetual bonds is usually higher than the term bonds. The issuer can decide to redeem perpetual bonds and refinance with lower interest instruments. The accounting rules in most countries require perpetual bonds to be classified as equity as it can be there as long as the company want it to be. In fact many conglomerates in Malaysian issue perpetual bonds which is safer in term of capital or cash flow perspective. Borrowing in any form , more so in the case of perpetual bonds , is not a problem by itself . Ability to service and repay the borrowing is the key . So, pay more attention to the cashflow statement to track if company generate good free cash flow or not .

Posted by Johnzhang > 2021-07-06 09:50 | Report Abuse

Appreciate if @Carlos can tell us where he get the information that perpetual bonds is due by this year . I far as I know perpetual bo Da has no maturity date ! Can Carlos also enlighten us where you get the information that interest rate can jump from 9.6% to 15%. As far as I know, bond coupon rate is fixed at the time of issue!

Posted by ykloh > 2021-07-06 10:14 | Report Abuse

@ mfbs

Not only me say Rubbish ya.

====================

More like a can of worms, not just rubbish.

Posted by TheContrarian > 2021-07-06 10:17 | Report Abuse

@Johnzhang, I did read something about it sometime last year while I was trying to determine the quantum of Boustead's huge debts. I think there's information in the financial statements in the Annual Report.

Posted by Karlos > 2021-07-06 10:32 | Report Abuse

Thank Johnzhang for you write up. Yes no obligation to redeem on the maturity which is normally after the end the fifth year. However if not redeemed, the interest will be increased substantially. The info on interest rates are from the latest annual report available.
Just for information, I think Thailand has recently classified perpetuals as liabilities , no longer as part of the equity. Personally I choose to classify perpetuals as debts.

Posted by TheContrarian > 2021-07-06 10:46 | Report Abuse

After the 5th year, Boustead has the call option to redeem the sukuk at every anniversary but if it doesn't redeem, the interest rate increases by 1% every year until a maximum of 15%. The sukuk was issued in 2013.

Posted by Johnzhang > 2021-07-06 10:49 | Report Abuse

The coupon rate can increase gradually over years to reach a limit provided all the terms are predetermined at the time of issue . To avoid paying increasing cost , the issuer can redeem and refinance with other cheaper instruments. I remember bstead has redeemed already half of the perpetual bonds just 2 years ago . If bstead has good positive cash flow from operating and investment activities,, serving and gradual redemption of the expensive perpetual bonds shall not be an issue .

Posted by mfbs > 2021-07-06 10:54 | Report Abuse

Overall make bstead rubbish company

Posted by Johnzhang > 2021-07-06 10:59 | Report Abuse

Operating +investing cashflow of Bstead at group level is as below :
Q1 2021. +$199 mil (90 mil required for interest servicing )
FY 2020. +$288 mil. ( 414 mil for interest servicing )
FY 2019 + $883 mil (424 mil for interest servicing )
Based on above , I think Bstead can still manage the loan servicing and obligations.
What bstead needs to do quicken is monetising the non-performing and non core assets .
Just how I read it .

Posted by Johnzhang > 2021-07-06 11:24 | Report Abuse

I am amused to see a few fellows keep yelling rubbish in this forum without anything constructive to share. Don’t you think you too are rubbish for for staying in your perceived ‘rubbish bin’ . Hehe….