Posted by BobAxelrod > 2023-03-08 15:42 | Report Abuse

My bad...855c..

Thanks for the correction.

Posted by TheContrarian > 2023-03-08 18:08 | Report Abuse

LTAT shareholding in Boustead has exceeded 72%.

Posted by speakup > 2023-03-08 20:00 | Report Abuse

Those who buy 86 now losing 0.5¢

Posted by Johnzhang > 2023-03-08 20:51 | Report Abuse

I think it is too early to rule out that LTAT will not revise up the offer price within the 46 days from Offer Posting Date . At least LTAT has not ruled it out. It all depends on the offer acceptance level .
I rather accept LTAT ‘s offer vide the offer document than to sell in open market now . In the event that LTAT decides to up the offer to secure at least 90% control, those who have accepted the offer earlier will get the higher price , but not those who have sold in open market.

Posted by BobAxelrod > 2023-03-08 21:03 | Report Abuse

LTAT does not require the Motion to be voted since they are Majority shareholder with over 59.42%.

The Offer Price should stay and for those minorities to accept within 21 days.

Posted by BobAxelrod > 2023-03-08 21:04 |

Post removed.Why?

Posted by Johnzhang > 2023-03-08 21:18 | Report Abuse

Pls read the takeover offer letter to Bstead dated 2nd March . Some of the conditions and periods of offer are all stated there . The offer is valid for 60 days from the posting date of offer document. For revised offer , it has to be made within 46 days from the offer document which will be posted to minorities within 21 days from 2nd March , the day Bstead is notified of takeover offer .

Posted by TheContrarian > 2023-03-09 05:10 | Report Abuse

@Johnzhang, right now it's a matter of opportunity cost. Sell now at 85.5 sen and redeploy proceeds to another counter which will eventually rise or hold out and hope LTAT will revise the offer price higher.

Posted by Johnzhang > 2023-03-09 05:59 | Report Abuse

@TheContrarian, I can wait for another few weeks . The opportunity to pick another potential counter is always there .

Posted by Johnzhang > 2023-03-09 06:12 | Report Abuse

Minorities who are willing to accept 85.5 sen would have or will very soon be selling in open market at same price .
Just monitor the volume LTAT able to soak up in the next 1-2 weeks to assess if LTAT shall get at least 90% acceptance to force the remaining minorities to give in .

Posted by Johnzhang > 2023-03-09 16:34 | Report Abuse

The selling at 85.5 sen seem disappear today.

Posted by calvintaneng > 2023-03-17 10:53 | Report Abuse

Some thoughts on Boustead

Since Ltat needed more than Rm600 millions cash to take over Boustead it will get cash

From its own saved up capital

Or from more bank borrowings

Or from selling some assets to
get back cash

Where will cash come from?

Already highly geared Boustead will find it harder to borrow unless pay a higher interest

Or sell assets of subsidiaries?

And look at these

Pharmania
Not enough money
Will need to raise capital by pp or Rights issue

Bhic
No earnings and full of problems still not resolved

Affin Bank
This ok but Banks are under control by Bank Negara
Only just done was the 30 sen dividend payout

Bplant
This one has lands bought more than 100 years ago since year 1848 when Long Jaffar founded tin in Larut

Bplant started with rubber and now into palm oil

Latest Ar shows its own over 240,000 acres of plantation lands

In Peninsular many are freehold and located near growing towns and cities

So how big is 240,000 acres?

About 500,000 old sq besi airport or Bandar Malaysia

Or more than the entire landmass of Spore at 180,000 acres

Bplant already unlocked over 22 sen dividend last two years

So we can expect more

Posted by calvintaneng > 2023-03-17 10:56 | Report Abuse

Correction

Bplant 240000 acres land equal to about 500 Bandar Malaysia lands

Posted by BobAxelrod33 > 2023-03-17 10:57 |

Post removed.Why?

Posted by BobAxelrod33 > 2023-03-17 10:58 | Report Abuse

Bstead need to borrow 600+ Million to pay minorities?????.....LOL

Posted by BobAxelrod33 > 2023-03-17 10:58 |

Post removed.Why?

Posted by calvintaneng > 2023-03-17 11:20 | Report Abuse

Go see boustead balance sheet

It has Rm6.7 BILLIONS BORROWINGS

Only Rm700 mil cash

So Debt less cash Boustead has a high debt of RM6 BILLIONS ON ITS BALANCE SHEET

NOW PHARMA IS IN NEED OF CAPITAL AS WELL

Posted by BobAxelrod33 > 2023-03-17 11:25 | Report Abuse

Nah....no point to debate with a 2 year old kid....he knows nothing.

He still thinks Bstead is raising the 600+ Millions to pay minorities..........my toes are laughing so hard....even my pet fish is rolling on the floor laughing.

Posted by BobAxelrod33 > 2023-03-17 11:28 |

Post removed.Why?

Posted by yongyong88 > 2023-03-17 11:31 | Report Abuse

LTAT is buying out the other shareholders of boustead. LTAT is like the EPF for soldiers. Yes, 600 million is nothing to LTAT, that's why the shareholders are demanding a higher price.

Posted by anthonytkh > 2023-03-17 11:48 | Report Abuse

600M is not nothing. Not for any of our GLICs.

Posted by calvintaneng > 2023-03-17 14:08 | Report Abuse

Every co or entity depends on real income to prosper or survive

Where did Ltat gets its income from?

From investments of course

Even the kings of old are served from the field

So where will Ltat real income now derive from

No more easy Contract as Pm Anwar in charge. Bhic won't be good

Pharma is in deficit due to expired vaccine and now need help

As for Affin bank it has given out 30 sen dividend

The logical deduction is the cash to be released from bplant valuable assets

Posted by dumb8888 > 2023-03-30 18:18 | Report Abuse

Hi, already losing big time average cost rm2.69. Should I buy more now to average down unit price and then accept buy out price 85.5 cent? Pls advice this move before coffin buried. Tq

Posted by TheContrarian > 2023-03-30 18:42 | Report Abuse

hey dumb8888, you should have bought Reach Energy at 4.5 sen yesterday.

Posted by dumb8888 > 2023-03-30 18:47 | Report Abuse

No more adventurous..
now how to narrow down loss. What do you think of my options?

Posted by TheContrarian > 2023-04-03 15:49 | Report Abuse

hey dumb8888, can consider selling Boustead and buying into Affin and/or Boustead Plantation.

Posted by dumb8888 > 2023-04-03 17:20 | Report Abuse

Hi Contrarian, if I sell now would incur higher fee compared to exercise buy out which mbb investment charge RM15 only. Every cent counts. Do you think there is any possibility of higher offer from ltat later?

Posted by TheContrarian > 2023-04-03 17:27 | Report Abuse

Not likely of an higher offer because LTAT has accumulated beyond 74%. If you wait for the buyout, Affin and Boustead Plantation share prices would rally and go up by then.

Posted by Tattoo > 2023-04-07 10:27 | Report Abuse

Go see FGV for reference.

Posted by dumb8888 > 2023-04-07 10:30 | Report Abuse

TheContrarian, with such high NTA why are the minority so willing to settle with 85.5 cent? Ltat con job with minorities shareholders.

Posted by beluga > 2023-04-07 13:12 | Report Abuse

did you guys receive a phone call from Boardroom Share? They called me asking if I want to take up the offer.

Posted by dumb8888 > 2023-04-07 15:10 | Report Abuse

Maybank investment whatapp me giving dateline to reply by 20th May 4pm. Still praying for higher offer price

Posted by Tattoo > 2023-04-07 16:25 | Report Abuse

Agreed to dumb888, almost 50% discount on NTA, better wind up and liquidate the company, then distribute the NTA to shareholders.

Posted by Johnzhang > 2023-04-08 10:08 | Report Abuse

As at 3rd April , LTAT owns 74.3% only . The chance to secure at least 90% control looks very challenging.
There is still about 540 mil shares in minority hands . Assuming LTAT has to revise the offer to $1.00 that will cost LTAT another $78 mil only . You think LTAT will give up the privatization because of additional $78 mil ?
Minorities who have sold in open market will not be entitled to any price revision.

Posted by Johnzhang > 2023-04-08 10:12 | Report Abuse

@beluga, I guess LTAT is trying to feel if they will achieve at least 90% .

Posted by Johnzhang > 2023-04-08 10:19 | Report Abuse

Most minority shareholders who were willing to accept the offer would have sold in open market at the same price instead of holding out . I guess the remaining are not easily giving in without a ‘fight’. Just my view

Posted by Johnzhang > 2023-04-08 10:35 | Report Abuse

After settling Boustead (hopefully at higher price), direct my fund to Bplant. I think quicker asset monetisation activities will happen in Bplant satisfying LTAT’s objective of realizing higher shareholder’s value and generating cash which are needed for paring high debts in LTAT and Boustead holdings.
LTAT will effectively control 68% Bplant after Bstead privatization ( 10.6% LTAT + 57.4% thru boustead holdings). Generous dividend payout from Bplant is expect to ease LTAT and boustead debts burden. Just my view

Posted by dumb8888 > 2023-04-08 16:32 | Report Abuse

Hi Johnzhang, I intend to wait till the last moment before making any accepting offer at 85.5. Do you mind sharing with me where is the link that would show me the latest shareholding % by ltat so I can know my position better? Tqvm

Posted by Johnzhang > 2023-04-08 18:36 | Report Abuse

Dumb8888, you may go to below link to Bursa Malaysia website . There is daily update .

https://www.bursamalaysia.com/market_information/equities_prices?keyword=BOUSTEAD+HOLDINGS+BHD&top_stock=top_active&board=&alphabetical=&sector=&sub_sector=

Posted by chin5675 > 2023-04-11 16:13 | Report Abuse

what will be happen if not take up the offer?

Posted by Johnzhang > 2023-04-12 10:18 | Report Abuse

Posting date is 23 March
1st closing date is 22 May ie 60 days from posting date.
Revise offer ， if any , to be declared by 8 May ie 46 days from posting date .

Posted by Johnzhang > 2023-04-12 10:20 | Report Abuse

If you don’t need the cash No hurry to sell or accept the offer before 8 May. Just hold out until then to see what happens. Just my view

Posted by dumb8888 > 2023-04-12 22:11 | Report Abuse

Hmmmm.....today higher than offer price. There is a sign of urgency from ltat?

Posted by Johnzhang > 2023-04-14 10:00 | Report Abuse

Interesting show this morning!

Posted by Lester Teow > 2023-04-14 11:37 | Report Abuse

I think it reacted to this news:
LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity
https://www.thestar.com.my/business/business-news/2023/04/13/ltat-sells-11256-million-shares-in-affin-bank-to-sarawak-state-entity

Posted by Johnzhang > 2023-04-14 12:57 | Report Abuse

As at 11 April, LTAT only secures about 75% from open market purchases and from the acceptance .
Judging from today’s price movement and the very low sell orders above 85.5 sen, LTAT shall face uphill task to get 90% by the closing date . LTAT better listen to all the remaining minority, especially the corporate shareholders to close the price expectation gap.
Book value of boustead is about $1.60. Realizable value of all the assets is much higher than $1.60. It is palatable for LTAT to even consider $1.20 as their gain will eventually be very huge and it doesn’t cost LTAT a bomb to up the offer for the remaining 25%.

Posted by Lester Teow > 2023-04-14 14:04 | Report Abuse

Sure they will raise the offer, but not now. They will take the chance to buy as much as they can.

Posted by Johnzhang > 2023-04-14 14:19 | Report Abuse

https://newswav.com/A2304_paGZdX?s=A_SW0aQXV

Posted by Lester Teow > 2023-04-18 08:42 | Report Abuse

INDEPENDENT ADVICE CIRCULAR

Fairness of the Offer
We are of the view that the Offer is NOT FAIR as the Offer Price of RM0.855 represents a
discount of RM0.708 and RM0.896 or approximately 45.30% to 51.17% over the estimated
value per BHB Share ranging between RM1.563 and RM1.751 derived using the SOPV
methodology.

Posted by dumb8888 > 2023-05-08 14:40 | Report Abuse

Dateline to accept coming closer but still no sign of any counteroffer. Haiz....