Posted by tah16600 > 2016-11-16 10:15 | Report Abuse

What a fck .,got 500m cash, still propose right issue..What is this kiasu director trying to do ?

Posted by bjax22 > 2016-11-16 10:16 | Report Abuse

TERP is RM0.21. 8 rights for every 5 shares. Share price at Ex-date will become RM0.26
If I have 1000 shares, I'll need to fork out RM336 for 1600 rights. Ending with 2600 shares.
Assuming dividend before ex is RM0.02, now become ~RM0.0077.

Is the calculation above sounds about right?

Posted by red_85 > 2016-11-16 10:35 | Report Abuse

bad company...keep asking money from investor..just sell it..forget it, buy other property stock better

Posted by beso > 2016-11-16 10:38 | Report Abuse

very lucky last year rebound i sold & no look back

Posted by lkoky > 2016-11-16 11:00 | Report Abuse

this counter remind me of PJDev.

Company itself is making money, but the major shareholder is dick.

Posted by Angielim9955 > 2016-11-16 11:02 | Report Abuse

red_85 lkoky hi guys
what happen whant Ri again ?
can tell how much this time Ri price ?
no wonder drop so much
scary ?

Posted by tah16600 > 2016-11-16 11:07 | Report Abuse

If less shareholders take up the Rights Issue, the kiasu directors will 'Sapu' it,finally become top shareholder. Eventually will take private.So to prevent from happening,subscribe all the rights issue.

Posted by beso > 2016-11-16 11:08 | Report Abuse

after ex right sure below 0.20

Posted by lkoky > 2016-11-16 11:09 | Report Abuse

Suspect the reason for this exercise is Mayland need to de-leverage as it prepare for IPO, TheEdge reported this a few days ago.

No need to subscribe for the right issue lah, just wait after the ex date, u can buy below 0.21

Posted by Angielim9955 > 2016-11-16 11:48 | Report Abuse

what wrong with this lG
set the price so cheap , you want us all die is it ?

Posted by Hitto > 2016-11-16 12:03 | Report Abuse

Last mth it give 2 sen dividend everyone happy, now it want to take back even more from u, subscribe 1.6 share for 1 share u held. GOSH! Not every minority shareholder is ready to fork out money to the company as our financial resources are limited. Why not the company issue new share to acquire these companies?

Posted by K.H > 2016-11-16 13:04 | Report Abuse

China’s Company Mayland Group. After Rights issue 1.914 billion shares, total 3.1billion shares issues :(

Posted by xcu843 > 2016-11-16 13:08 | Report Abuse

Really teruk this company. It also smart announce before qtr report out.

Posted by endeka > 2016-11-16 14:23 | Report Abuse

What is the price of right issue?

Posted by Eric Fong > 2016-11-16 15:27 | Report Abuse

Company like IOI corporation they need to have right issue too...not a big deal if keep it long term..

Posted by aliyusof > 2016-11-16 15:30 | Report Abuse

Many get caught with tailored made reports on big cash balance, undervalued assets etc. Many went to buy it. Finally the culprits are caught by SC/Bursa. Now with huge right issues and purchase of land, etc. Smell bad.

Posted by endeka > 2016-11-16 15:36 | Report Abuse

can anyone teach me....if i am holding 120,000 shares now, with the right issue at Rm0.21?price fix at Rm0.21?, i will get extra of 192,000 for the right issue? and i need to pay extra Rm40,320 for the right issue? and end up i will get shares total at 312,000 at maybe share price at that time is Rm0.26??.... please advise or give example, i am not good in right issue calculation..thank you

Posted by lkoky > 2016-11-16 15:44 | Report Abuse

nevermind, strong support at 0.34

Posted by Jay > 2016-11-16 16:06 | Report Abuse

price continue to be under downward pressure on rights issue, almost all companies are the same. price may/may not rebound after rights depending on the company. best to wait until rights issue price fixed before considering to go in

Posted by Eric Fong > 2016-11-16 16:06 | Report Abuse

U can only get right issue if you subscribe (buy) to it.
Otherwise your share quantity on hand remain same.
But the share price will adjust base on the right issue quantity + quantity of share paid up in the market. Will adjust to lower price as quantity of share in the market increase.
But it wont be a scary thing as biggest shareholders will take balance of the ICULS and right issue.
Hope it clarify.

Posted by endeka > 2016-11-16 16:10 | Report Abuse

Thanks Eric Fong. I believe you are also holding alot shares for L&G. What is your next step? to subscribe?

Posted by Iron8888 > 2016-11-16 16:29 | Report Abuse

I subscribe or else my share will be diluted. No choice. Wow market bad, l &g also do like this .

Posted by Iron8888 > 2016-11-16 16:32 | Report Abuse

Most people will subscribe to RI

Posted by endeka > 2016-11-16 16:32 | Report Abuse

Iron8888, u also trapped as most of us did... i think i shall subscribe also,but how is the procedure and calculation?

Posted by Eric Fong > 2016-11-16 16:50 | Report Abuse

Wait for their next announcement and wait to attend their EGM to agree or against their plan...
After that need call your bankers / remiser to subscribe for right issue if meeting pass all resolution..

Posted by endeka > 2016-11-16 17:19 | Report Abuse

thanks Eric for your info

Posted by thomasnewcomer > 2016-11-16 17:27 | Report Abuse

ya

Posted by thomasnewcomer > 2016-11-16 17:28 | Report Abuse

buying from mayland companies? i tght L&G owns by david chiu who also own mayland?

Posted by thomasnewcomer > 2016-11-16 17:39 | Report Abuse

proposed acquisitions by the Company from Malaysia Land Properties Sdn Bhd (“Mayland” or “Vendor”) of the following:...

When Hong Kong-based property tycoon Tan Sri David Chiu emerged as a substantial shareholder in Land & General Bhd (L&G) in August 2007, there was speculation of a possible asset injection or takeover exercise. It pushed the stock from 20 sen to over 80 sen in six months, but there was no asset injection.


Malaysia Land Properties Sdn. Bhd. 343,791,000 30.7%

this company owns 30.7% of L&G

Posted by Hitto > 2016-11-16 18:10 | Report Abuse

The right issue price will be fixed by the board upon receive the approval. It will be determined by taking into consideration past 12 mths share price and 5 days weighted average market price of L&G immediately preceeding the price fixing date.

Posted by peterwinwin > 2016-11-16 22:14 | Report Abuse

ai ya ,dont worry.lah, when the share price drop some peoples said good for accumulate,now the board director plan to lower down the price for them to accumulate ma, M. C. B.

Posted by Angielim9955 > 2016-11-16 22:48 | Report Abuse

0.20 is very funny price should fixed at 0.30 at lesat

Posted by Eric Fong > 2016-11-17 00:28 | Report Abuse

In long term perspective, right issue is not a bad thing for L&G although most of investors consider bad in short time. Some blue chips company issue rights too until now.

If the company search, buy and develop new land using their 500mil cash i think will take a lot of time for them to pick up as market downside nowsday.
They need time to buy it, sign SnP, wait loan approval, building plan, etc and market nowsday need fast turn around for profits.

By buying others company business, the company has walk fast pace to gain more in near future. (in terms of business and development / landbank).
Company EPS may increase more than double in future due to this planning, then the share price may follow to increase too.

By issuing RIGHT ISSUE, company save a lots of financial interest cost and they still keep the 500mil cash for better usage when chance are coming to them.
Cash need to retain by company for better usage although they might choose to issue new share instead of right issue that need to fork out our money.
Somehow it feel bad for small investors like us.

We really not sure what the biggest shareholders MAYLAND have in their plan.
But until now they hold a large amount of L&G share and now until touching the mandatory take-over offer, but they request for exempt to privatization.

There are bads and goods in their planning in terms of short and long terms.
Yes their share price surely will adjust to be lower and dividend sure will be adjusted too.
But what if L&G get very good result after since they acquire all the company and they will adjust their dividend policy too. Not saying the share price as well.

Don't forget the biggest shareholders have same holdings with us and if they reduce their dividend surely they will suffer too unless they sell all the stock, but there is no clue that they will let go L&G as they keep on buying until touching the MTO limitation.

Just my 2cents. I myself feel sad for the right issue too but after reading carefully their proposal i feel like keep on holdings my portion and wait in near future what L&G can reach in their business goal.

Posted by aliyusof > 2016-11-17 07:49 | Report Abuse

Agreed with Jay. Major shareholder Mayland (Hong Kong investor) dumped all those lousy companies to L & G at about total RM300m. Cash to pay it or use right issue money (from u and me). Though they can subscribe their right issue entitlement. But they can use that massive amount of profit money made earlier from dumping their shares (also those converted from massive amount of warrants) when the price moved up to 43 cts caused by a few hired analysts' articles on company's cash balance and under valued assets. Luckily I hesitated to buy though very much enticed too.

Posted by aliyusof > 2016-11-17 07:53 | Report Abuse

Talking about buying lands away from Klang Valley and their big gross development value, etc. Look at the property in next 1 or 2 years, especially in those sub urban area, it will long time and far fetched to realize it. Very long holding time required.

Posted by aliyusof > 2016-11-17 07:55 | Report Abuse

With big right issue proposed, depleted cash and little profit from operations, dividend payment may be a big question mark now.

Posted by thomasnewcomer > 2016-11-17 08:37 | Report Abuse

what if under scribe the right issue? the min of share are 800m, L&G needs to fork out coffers and bank borrowings to finance the purchase? who know those companies worth that much..the whole governance things not right...furthermore, replenished landbanks is ok for property companies but openly buying own companies haha

Posted by tanhy123 > 2016-11-17 09:13 | Report Abuse

Thomas, if under subscribe Mayland will undertake all the minimum required RI.
I think that the scale of the RI is too huge, and there is no reason to ask shareholders
to fork out so much, given that L&G has so much cash and the outlook of property market is bad.

Posted by tanhy123 > 2016-11-17 09:16 | Report Abuse

It needs approval from EGM, so if we all vote against it that will kill the proposal

Posted by thomasnewcomer > 2016-11-17 09:21 | Report Abuse

i think still hv plenty of ICULs outstanding to be converted and add 1.9b shares...i think the share price would tank kao kao

Posted by tah16600 > 2016-11-17 09:32 | Report Abuse

Use the the cash to buy instead of issuing right since it has abt 500m .I think shareholders shd reject the proposal

Posted by thomasnewcomer > 2016-11-17 09:44 | Report Abuse

i wild guess would b this 500m coffers the boss may have other ideas to use it

Posted by aliyusof > 2016-11-17 10:40 | Report Abuse

Corporate governance has dead here!

Posted by tah16600 > 2016-11-17 11:22 | Report Abuse

Indirect way of take over the company

Posted by tah16600 > 2016-11-17 11:39 | Report Abuse

If really the kiasu director want to buy properties, they r so many listed property cts undervalue. He can just buy it , no need to issue right issue .Take for example Tiger, whole comp below 70m

Posted by MuttonCurry > 2016-11-17 13:22 | Report Abuse

after ri fair value .10 sen ? wtf

Posted by POORDAD > 2016-11-17 14:45 | Report Abuse

godamn stupid director. ive been holding for so many yrs now and this company doesnt preserve the interest of its shareholders.

Posted by yefeng > 2016-11-17 14:57 | Report Abuse

eric fong，ur view is positive and correct. but we need to think in other way. now mayland take the cash 1st and put into the big shareholders pocket，let L&G to run and develop in future. L&G need how long to generate profit we dont dont know. if the property market keep on drop，mayb will make a loss also. i just think in negative way. in additional，the land worth for 330m？if jay is true，plot A almost fully develop，the value may not as much as 930m.

Posted by wanderful > 2016-11-17 17:28 | Report Abuse

If Mayland plan to public listed, why it still want to keep L&G? Why not change L&G to Mayland? I definitely think the HK chow family has their own plan, to cheat minorities share holders money. Those lands acquire will not let L&G become the next Mah Sing or Eco world. I will definitely against this right issue. I think we need to inform MSWG

Posted by cytew > 2016-11-17 17:50 | Report Abuse

Mayland is planning to go public in 3 years time, before that it will turn LG to be her subsidiary.... and likely LG would be changed to Mayland properties Bhd later,current proposed merger of operations of property development was actually planned long ago, but retailers were not noticing it only, go ahead with the right issue or sell your shares now, no point grumbling any further.