This exercise is full of RPT & conflict of interest. Mayland taking us for ride. They are selling their lands to L&G from shareholders' monies & then will privatize the company & the 540M cash at the company go back to their pocket
for my opinion, the serendah project will fail. and semenyih project rather safe and good, the ukay project no so bad, the sri hartamas project no so bad, the expectation selling price RM sq/ft in sungai besi project is too high.
I am not denying that to date, it is indeed tense but not to the level of going to against the vote , possible U turn agreed the term if WAVE the stock to achieve 0.50 level , such beneficial whole investor .
dear fellow shareholders, we have enough of the trickery and fraud by Mayland owners. they have cheated us again and again, from the issuance of L&G-LA whereby they used it to control 31% (from only 15%) and the sale of putrajaya property which has no tenant. And now, they want to sell us the lands which they either have no money to develop or not viable to develop. If so good, they will keep for themselves, why inject into L&G? They sell to L&G, raise a huge RI and they get to pocket RM200m cash, control the company and increase their stake, and still have RM600m at their disposal. Wow, they are really smart!!! Please turn out in full force, reject REJECT reject
cytew, you are not stupid of course. But I can assure you, if the resolutions get through, you can subscribe the rights at only 21 sen, a discount of over 12%. And after adjustment, the price will be around 26sen. It will remain there for the next 10 years, You will not be able to make any money from this counter, and you probably will not live to see the cash or RM600m, like what happened to xingquan, felda, tri... But if the resolutions get rejected on 13 mar, the price will shoot up to at least 44sen, bearing in mind that the cash is equivalent to 40sen per share (without RI)
The best strategy now is to join Mayland to subscribe for the right issue and apply for the excess shares( many minority shareholders would not subscribe for it,please take note,there are about 20K minority shareholders and most of them are as silly as those who are "shouting" here to reject the proposed resolutions ) in addition to this, arbitrage the your shares with the OR if the trading of OR is at discount during the trading period of 5 days....
for your information, I have done it for LA in 2013..after the exercise, holding for about 10 moths, I made a handsome return of 150% when LA hits above 50 sen (my average cost was about 20 sen)
What is the point of rejecting it ? and there after landed yourself holding an unperformed stock ? currently L&G has not much revenue , do you notice it ?
why would that be the best strategy - by putting more money into the RI and essentially giving more money to the majority stakeholder who would at the same time be increasing their stake, it's actually the worst outcome, both in terms of increasing your exposure and by surrendering an even larger portion of the voting rights.
there is no guarantee of the profitability of the new land parcels - only two are currently being developed, the others are just at the proposal stage and require l&g to bear development costs.
what is guaranteed is that the value of the cash per share will fall.
if l&g closes shop tomorrow and distributes just the cash it has right now to its shareholders, every owner of the 1.1 bil outstanding shares will see a profit. when the number of shares go up (at the minimum) to 2 bil, the cash per share gets halved. how much is 471 mil / 2 bil? (or 3 bil, if everyone exercises the RI)?
the RI does not create value for l&g. the question is who is it creating value for?
have estimation of share holders.: 62% shares in the market. 16% own by institution and funds, 46% with retailers. Major shareholders at worst case has 38% of the shares and they may hold even more.
cytew,this is where you are wrong. of course if the resolutions go through you have to pick up the rights. But don't you realize how huge is the rights issue, it is 8 for 5, ie increasing the issued shares by2.6 times to more than 3 bil. the major shareholders certainly know that many minority shareholders won't pick up, either for lack of funds or lack of interest,. This is the opportunity for them to increase their stake at a dirt cheap price, and at the same time no need for MGO and get to control the treasure of cash and the properties they sold still belong to them. They are clever, but if you can't read their strategy, you are stupid. There has to be other alternatives. That's why I say reject the proposals and let them come back with a better offer and on better terms. That's where minority shareholders should learn to protect themselves
I had read through theirs mind since just before the LA exercise in 2013,especially on David Chui, so I joined them, and got back a handsome return of 150% after about 10 months, and i will be joining them again this time...This is called 将计就计 in Chinese.. The proposed right issue by the BOD on behalf of Mayland is actually called 项庄舞剑意在沛公 in Chinese too,for those who are unable to read Chinese can never understand the Art of War that was created by 孙子 more than 2000 years ago...so just wait for the defeat gracefully...you can always learn from me if you wish..on the strategy I used and going to use it again this time..the choice is yours anyway...and good luck to those who only know how to oppose it.
kstay60, concentrate on what we want to do. Vote for and against is other people choice. But if we are in the same boat, we should focus on what we want to do and look for like minded shareholders to vote against. Those who want to vote for is up to them. democratic
I has covered some telegrme group to come out and vote. But ethere are still many FB apges and groups, please, help to spread the news so that more ppl attend the EGM.
I am minor share holder,i don't care what " Chinese Art of war ",i only worry where to get money to subscribe the RI ?if i have enough money to subscribe the RI,i won't make noise here.hopefully in EGM the minor share holder successfully reject the proposals and force the board directors change theirs mind to issue Bonus issue instead of RI.
alamak123 is one example of many shareholders in same position. That's where the majority shareholder wants to take advantage of. you can send your proxy form appoint the chairman to vote on your behalf, indicate on the form your vote against the resolution. send the form to the registered office by Tuesday morning
Finally, I realize, the main reason that majority opposes the proposals is no money to subscribe for the right issue instead of the merit of the proposal...总算说出真心话了!
respect serena717 , we just do our part here , other people matter , just advice them , we have not right to interfere , people brain are stick on this head , mind his/her problem , but serious focus here , lose the opportunities against the vote , whole boat will suffer long period of unfair treat , any of you see HUGE CORPORATE , with HUGE share capacity done well , answer is ROAD TO HOLLAND LAND instead , last use your fresh and logic sense , think possible before make the stupid decision .
sincere , i will see the earth quake level , decide the federal road to go through , business road never in smooth way , facing and get past it , in front road still BRIGHT DAY still .
WE need to engage all element , not bother is negative , positive , united it is consider EXTRA energy for future growth , let us make it century great approach , combine it .
When i hand over the proxy form to him ( CHAIRMAN) , the Construction pioneer is around , DATO IR YAP TECK FUI , TOP ONE MAN ,TWIN TOWER Foundation man , he can witness the due .
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khatulistiwa1234
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Posted by khatulistiwa1234 > 2017-03-11 14:27 | Report Abuse
i knee down him , they first class killer in town , richest also painful , more rich more painful .