Like this trend n buying rate I think hapseng be at this level for a while.This mean not many seller wanted to give in 0.05 or 1% to the buyer.They have tobuy high in order to collect more share.
Malaysia's Hap Seng makes partial offer for Singapore's Hafary stake
Wednesday, 31 December 2014
PETALING JAYA: Hap Seng Consolidated Bhd has made a partial offer to acquire 51% in Singapore-listed building material company Hafary Holdings Ltd, for 24 Singapore cents (63 sen) per share or S$52.5mil (RM139.07mil).
The offer, which represents a 9.1% premium from its last traded price of 22 cents (58 sen) yesterday, is for 219.58 million shares in Hafary, which has 429 million outstanding shares.
In a filing with Bursa Malaysia yesterday, Hap Seng said the acquisition of Hafary could help facilitate its regional expansion to develop an integrated building materials business.
“The partial offer will remain open for approval and acceptance by relevant shareholders for a period of not less than 28 days from the date of despatch of the offer document.”
Hap Seng which has diversified businesses in plantations, property investment and development, credit financing, trading of fertilisers and automotive as well as building materials and stone quarries.
It said Hafary was a market leader in the tiles segment in the Singapore market, adding that the latter would be a potential growth catalyst company through its emerging market presence in Vietnam and China.
Towards this end, Hap Seng said it had received irrevocable undertaking from four individuals, namely Low Kok Ann, Low See Ching , Dr Low Bee Lan Audrey and Ching Chiat Kwong – that collectively hold some 51.18% of the company.
Tags: Stocks, Earnings, Corporate News, Investing, Hap Seng Consolidated
Hapseng will be hit in so many areas. Plantation drag down by falling crude. Property will slow down Less demand for bricks .All listed Companies scale down budget for Merc Benz purchase. Only hapseng credit will do well. Sell quickly. Anything above rm4.50 is a bonus.
Company taking a breather from share buyback. I mean, why would they want to do that now with the market falling? In the meantime, the fearful weaklings are selling.
Selling pressure is strong.. apparently someone is trying to manipulate the share price. I suppose the company placed buyback with large volume at certain price and yet dumping still breaches that blockage.
I would bet the company resume buying back at a lower price, lookout for RM4 psychological support level, the mgmt has been consistently creating values for shareholders, i.e disposing loss-making auto business in vietnam, disposing small landbank, but the quarter ended Dec 2014 was rather subdued.
Hapseng used to be high yield counter, but price escalation make it less attractive, now is a pure corporate theme play, i.e. spinning off property arm, treasury share distribution.
Calvin, you are probably right.. Just see whether hapseng is heading south...
Anyway, those have faith in the company just hold tight and wait for the reversal... I am still holding... Buyback at RM4 could be the next move for management.
Huge dump is also probably from the converted WA as investors collected large chunk of over sold WA last month. Anyway, dont expect hapseng will rebound in quick time. sigh...
Hard to tell... hopefully the Hapseng management will take pragmatic action to cushion the price drop. Paving the right way to efforts of keeping the price...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
i3i2i1
4,731 posts
Posted by i3i2i1 > 2014-12-17 14:43 | Report Abuse
not yet... may be wait for few weeks more until after xmas