Posted by TomyamGong > 2017-03-03 16:31 | Report Abuse

dangerous

Posted by cherry88 > 2017-03-04 11:56 | Report Abuse

Any of you go for EGM ? Can anybody explain why the company want to raise cash from rights issue to finance property acquisition while they have sufficient cash to do so ? Total land purchase goes to RM314m. Its cash stands at RM471m. Why raise fund with rights issue for RM170m ? And it is a related party transaction. Can't we feel suspicious on this ?
The company cash per share stands at 35 sent but the current share price only 31.5 sent. The main reason is the rights issue. Alternatively, they should adjust the ratio to 1 for 2 which may not so damaging. We should vote against the rights issue in the EGM.

Posted by POORDAD > 2017-03-06 10:25 | Report Abuse

http://www.theedgemarkets.com/my/article/another-rpt-lg-it-good-deal

how much power does the minority shareholder have? unlikely to swing any votes, we have to suffer paying more cash upfront and take the brunt of this risk.

Posted by cherry88 > 2017-03-06 10:33 | Report Abuse

We should call or promote all minority shareholders to come for the EGM. At least, give your proxy to those who want to come to defend minority interestes

Posted by tah16600 > 2017-03-06 10:39 | Report Abuse

I fully agreed with Cherry88 , we shd vote against during EGM .

Posted by tah16600 > 2017-03-06 11:17 | Report Abuse

the share can only go up if the shareholders vote against the proposal,

Posted by khatulistiwa1234 > 2017-03-06 15:06 | Report Abuse

The art of business , vote even putting enthusiasm attitude on it , show correct attitude on managerial hard work on the proposal , let the firecracker burn even great , achieve the big objective touch the ultimate level , sound even garmateh .

Posted by tah16600 > 2017-03-06 15:22 | Report Abuse

Can use cash retained to buy but instead of putting out the hands to get from shareholders

Posted by xcu843 > 2017-03-06 16:38 | Report Abuse

If I have 50,000 units, it mean I need to buy 80,000 units of right issue, amount RM16,800. Correct or not?

Posted by K.H > 2017-03-06 17:47 | Report Abuse

摆住现金4亿零吉不用却向股东要钱 邱达昌到底打什麽算盘呢？
http://sharesinfo4u.com/archives/40613

Posted by lkoky > 2017-03-06 19:42 | Report Abuse

!!!!
置地通用曾在2013年向邱达昌的MAYLAND买进布特拉再也一栋十三楼高的办公楼，成交价是7250万零吉，邱达昌保证两年租金收入370万零吉。两年租约满後，这栋十三楼大厦现在是空置，没有租户使用。

Got previous history one.

Posted by cutie > 2017-03-06 20:03 | Report Abuse

We must object to this stupid deal. I am going to the EGM to object it. How about u guys?

Posted by cytew > 2017-03-06 20:03 | Report Abuse

L

Posted by cherry88 > 2017-03-06 20:32 | Report Abuse

Gogogo....major shareholder is not allowed to vote. We have chance to against the RI

Posted by luckyman > 2017-03-06 21:41 | Report Abuse

http://www.theedgemarkets.com/my/article/another-rpt-lg-it-good-deal

Posted by tah16600 > 2017-03-06 22:11 | Report Abuse

It is a related party transaction deal ,another word, got motive behind. If the deal got through , then the L&G will be like an Elephant share. So huge shares how to move ?

Posted by tanhy123 > 2017-03-06 22:17 | Report Abuse

I will object the deal

Posted by khatulistiwa1234 > 2017-03-06 22:33 | Report Abuse

boycott it , remain usual , all the things is ball hit ball method , not serve the purpose , i see the wrong pattern right only , is unusual trade insider , reject consist reject , protocol remain protocol , collapse the issue , objection on it .

Posted by khatulistiwa1234 > 2017-03-06 22:34 | Report Abuse

EGM , collapse the suggestion .

Posted by khatulistiwa1234 > 2017-03-06 22:35 | Report Abuse

i represent all the minority , putting objection on it , boycott the suggestion .

Posted by khatulistiwa1234 > 2017-03-06 22:36 | Report Abuse

i want a clear and transparent L&G , present and future .

Posted by khatulistiwa1234 > 2017-03-06 22:38 | Report Abuse

of course , my view is whole investor in this counter hope , please serious look on it .

Posted by khatulistiwa1234 > 2017-03-06 22:40 | Report Abuse

i satisfy with current not right issue running , all remain usual , of course , a lot of us like it .

Posted by khatulistiwa1234 > 2017-03-06 22:41 | Report Abuse

Think properly , before react on it , i first withdraw , surrender to new proposal .

Posted by kstay60 > 2017-03-07 01:57 | Report Abuse

all minority shareholders must stand united and be present at the egm to vote against the resolutions. we have to fight for our rights and don't allow the major shareholders Mayland to take advantage

Posted by kstay60 > 2017-03-07 01:58 | Report Abuse

remember, they only want to take control of the company and the huge treasure of cash

Posted by kstay60 > 2017-03-07 02:12 | Report Abuse

let me analyse for all the shareholders of the company. Mayland will receive rm330m cash from the sale of the 5 companies. they only need to pay 130m for the rights subscription, they still keep rm200m cash in their pockets. From the rights issue, l&g receives rm400m, together with the current cash position, total 900m. After paying cash for the acquisition of the 5 companies, still left with rm600m cash, ie 100m more than pre-rights issue. If shareholders don't pick up, Mayland will subscribe the excess, thereby increase their control of 30% to perhaps 50%. That's why they want an exemption from MGO.

They get to control the company with a higher stake at a dirt cheap price, pocket a huge stash of cash from the sale of the 5 companies, and with RM600m at their disposal!!!!
we have seen several cash rich companies end up with their cash disappearing and the companies in deep shit!!!! remember xingquan, felda, TRI,

Dear friends and fellow investors, let us all attend in full force and show them our power, reject all the resolutions

Posted by Kris Wong > 2017-03-07 09:14 | Report Abuse

yes, reject all the resolutions to protect the interests of all minority shareholders !!!

Posted by pussycats > 2017-03-07 10:40 | Report Abuse

yes, reject all the resolutions

Posted by cherry88 > 2017-03-07 10:41 | Report Abuse

We should ask the management not to be so "aggressive". Why not just purchase the Semenyih project (the Diamond City) for RM134m. This project take up 40% of the total purchase consideration. With this, management may abort the rights issue ! It can be financed from its cash and borrowings.

Posted by tiennhieu > 2017-03-07 11:23 | Report Abuse

I am only own 20 lots of shares, can I attend the EGM and vote or not?

Posted by cherry88 > 2017-03-07 11:34 | Report Abuse

Even you own 1 single share also can vote for / against the AGM /EGM

Posted by tiennhieu > 2017-03-07 11:43 | Report Abuse

ok. will see how is the outcome at this coming EGM. Hope my small part can make the changes.

Posted by cherry88 > 2017-03-07 15:33 | Report Abuse

Let's put all number in a right perspective. First we don't assume minimal scenario where only the major shareholder fully underwrite the shares. Also, we don't assume the maximum scenario where all ICULS are converted.
Based on latest circular, its share in issue is 1,119 mil. A RI 8:5 @RM0.21 will enlarge additional shares of 1,791 mil shares (or total gross proceeds RM376 mil), and the final share in issue will be 2,910 mil shares. The major shareholder is "smart" enough to raise RM376 mil , and just sufficient to "contra-off" the purchase acquisition of RM336 mil and the balance goes to corporate expenses and working capital, etc....Mingo....they did not touch its cash YET in the balance sheet of RM471 mil as at 31/12/16.
Impact ? the major shareholder managed to dispose his land to L&G for RM336 mil and pay RM172 mil (assuming full undertaking arise), and pocket RM164 mil , AND raise its shareholding toward 40% level AND no GO needed ! The major shareholder is taking minority fund into his pocket, AND at the same time raise its shareholding FOC ! the cash of RM471 mil in balance sheet remain untouched and assume a 40% control, meaning the major shareholder still "own" back RM88 mil.
Impact on NTA and cash per share? Well, a math calculation show it is diluted to RM0.356 and RM0.16.....

Posted by hpcp > 2017-03-07 16:18 | Report Abuse

Vote against all resolutions

Posted by Invest33 > 2017-03-07 16:21 | Report Abuse

It is a serious related parties transactions & conflict of interest. Mr Low Gay Teck, the Managing Director of L&G (the buyer of these lands) is the ONLY EXECUTIVE DIRECTOR, all others are NON-EXECUTIVE directors.

As Mr. Low is also a director at Mayland Parkview Sdn. Bhd (the seller of these lands), he is deemed interested party & has absented himself from voting as the ONLY EXECUTIVE DIRECTOR at L&G. However, after the transactions being done, he is the ONLY ONE to execute these lands purchased without his consent. Mayland is taking us for a ride. We should vote against such transactions.

Posted by Invest33 > 2017-03-07 16:26 | Report Abuse

They might possible privatize this CASH RICH L&G after this transaction & if so, all cash will go into the major shareholders' pocket.

Posted by Invest33 > 2017-03-07 16:56 | Report Abuse

Hope all minority shareholders will attend the EGM on 15.3.2017 and vote against these transactions.

Posted by khatulistiwa1234 > 2017-03-07 17:32 | Report Abuse

REVOLUTION DID , reformacy on 15.3.17 , vote against all resolution , show minority also got minority power roof , i believe justice will win , finally , united collapse the road block .

Posted by khatulistiwa1234 > 2017-03-07 17:46 |

Post removed.Why?

Posted by khatulistiwa1234 > 2017-03-07 17:48 | Report Abuse

AWARE .

Posted by khatulistiwa1234 > 2017-03-07 17:52 | Report Abuse

USUALLY , BIGGER CORPORATE will finished fast .

Posted by khatulistiwa1234 > 2017-03-07 17:54 | Report Abuse

BANKRUPT is estimated , not calculate how solid it be .

Posted by khatulistiwa1234 > 2017-03-07 17:55 | Report Abuse

YOUR vote is OUR FUTURE , vote according to BETTER FUTURE , reject and offense it .

Posted by khatulistiwa1234 > 2017-03-07 17:57 | Report Abuse

pioneer royalty shareholder last wording , REJECT .

Posted by khatulistiwa1234 > 2017-03-07 17:57 | Report Abuse

i will lead the team to STOP it .

Posted by xcu843 > 2017-03-07 18:03 | Report Abuse

It needs how many vote to pass through.

Posted by khatulistiwa1234 > 2017-03-07 18:30 | Report Abuse

這下好了…
出現不知道打哪來的螞蟻…

WE ARE 螞蟻 , syndicate maybe losses the game .
07/03/2017 18:23

Posted by khatulistiwa1234 > 2017-03-07 18:30 | Report Abuse

GROUPING , we are ultimate power , EGM good news will public , vote are success against , issue fail .

Posted by khatulistiwa1234 > 2017-03-07 18:31 | Report Abuse

Current leak news , OUR GROUP already success , grouping at 25% minority , amount is keep increasing , i believe , before 15 -3-17 , it can touch the attractive figure , beat down the issue , objection achieve .