Posted by Saturn > 2014-12-30 21:16 | Report Abuse

MH370 dissapeared on Mar 8
MH17 shot down on July 17
8501 crash on Dec 28

If we add 8 + 17 + 28 = 53
5 + 3 = 8 again

Posted by Saturn > 2014-12-30 21:24 | Report Abuse

Even if I add 8 + 1 + 7 + 2 + 8 = 26
2 + 6 = 8

Posted by Saturn > 2014-12-30 21:40 | Report Abuse

Is 8 a message? Or is 8 a coincidence?
We have 8888 appearing adding all the flight number
We have 8 appearing adding the dates as a sum
We have 8 appearing as individual numbers of the dates added.

8 means prosperity in Chinese
8 means a twist and turn without ending in Gysie tarot
8 also means material wealth in divine message
8 also means balance of giving and receiving to balance the universe.

I can write more parallels to this 8 till the cows come home but the point of the question is what is the message.....This is the same as all interpretation that we do isn't it?

Posted by Saturn > 2014-12-30 22:05 | Report Abuse

I hv my own interpretation of this but I will leave you to interprete. As with Karma, universe balance, energy balance and etc, Malaysia has been out of balance for sometime now. Even the floods are a sign. NO I don't mean Hudud or no Hudud thingy, neither is it a wrath of God or even other extremist view but one that we can feel for.
We have black we hv white, we have acid we must hv alkali, we hv yin we hv yang, or even good and bad or ....but the essense is it CANNOT EXIST WITH ALL THINGS ON ONE SIDE.
Eg. We had extreme dry spell earlier this year and now it extreme wet spell. Why can't it be extreme dry spell and moderate wet spell. This year is extreme wet with floods affecting 200k + residents of the affect state displaced.

Hence ur answer on the airlines disaster must hv this same analogy equal and opposite

Posted by Saturn > 2014-12-31 13:32 | Report Abuse

Does anything happen for a reason or does anything happen for no reason?
We are all God fearing ppl and believe is a form or way, GOD is the creator of our world and Universe. At the same time, apart from GODs will, he also allow us free will and with that, intent of all purposes and malice is born. Some intent like mine is to write while others here is to proof themselves worthy of being a Sifu and some are here to gain business opportunities....this are intent of actions we do.
We can do them Becoz of free will that is accorded to us by the Almighty...Yes or NO? If Yes, you are a believer of 80% of most religion while if your answer is NO, you are a believer of fate only accorded by GOD. No right or wrong except that we must take responsibility to things that happen around us and NOT blame GOD for everything...RIght?
Even if GOD wanted to show his wrath, why would he do it in such a manner,...why not show something so drastic that ppl will remember it's GODs will as a reminder and not speculate of blackhand, GODs wrath and etc.
So in my opinion, the above situation of missing, shot down and crash of Malaysian plane is either man made or coincidental. If it's coincidental, it would be strange to be all fr Malaysia. Even so if we assume it's coincidental, Malaysian Ministers must stop making statements that we should consider ourselves lucky to be in Malaysia where it's safe and peaceful. Once I say that, it's stalk reminder to all of us NOT to make statements which only the creator of us can make. After all, Malaysia as a country does not belong to the elite or ministers as they are not the creator nor do they represent GOD. Even AA made the statement that they will not lose any plane only to be greeted by this.

So now we are back to square one, why did this happen,....GODs will or free Will that created this disaster. I cannot say for certain but as the number 8 goes (based on my earlier writing) it has no beginning or end, and it is two circle interconnected and balances life as we know....remember I mention night day, heaven hell,yin yang,.....only GOD can change that 8 cycle and u til then do good and believe with all intent and purposes all action has a opposite and equal reaction

Posted by Saturn > 2014-12-31 15:14 | Report Abuse

So much for Chatterbox talk here. Coming back to E&O, it has been a long long long time since I wrote in EnO. Some stock never move, while some move south and others move north in periodically. EnO is unique. I have said many times that my writing is for ENO fans only, so you who read this for direction to buy, pls don't do so.
Sometimes we buy stocks that we like because they are in some ways like us. They represent our avatar in life while some shares we buy knowing its appreciating value. I hold plenty of Axiata during their rights issue at RM1.80, but honestly I like the MD/CEO....that's about it. I don't talk much about it nor passion outside what you read on common news. But EnO is different for me. I use to talk east talk west, talk 3 talk 4 abt this beauty.
As they say, beauty is in the eyes of the beholder.after all which crazy fella will buy a PE23 counter? Hahahaha......much like cars, some are Mercedes kaki some are BMW some are Japsanese car...and some love Volkwagen even though it is problematic. Their love for Volkswagen is the drive which they say is powerfull with personality. They say it compensates for the problem they have while others love Beamer for the wild ride and Mercs for the comfort.....whichever it is,I on a personal level like EnO...yes a PE23 stock with much inflatable room to be filled and my reason is simple. I like the MD and I like the niche of the business they represent and I like the marketing they do especially globally and most of all I like the Expandables they are able to do with STP2. I have and will always in my opinion like development that are nicely located over a sizable single worthy location because they are strategic when it come to development cost, land appreciation, and their lifestyle niche which cannot be compared with others.

While many are looking at 2015 with much concern, I look at development that will pay off after 2015. You see, whatever development at this stage bring nothing except cost, however land appreciation will move much faster than the cost of development. Also cost of development is a way to hedge your funds. How many of you did renovation 5 years ago and realise that similar renovation will cost you 25% more now?

Have at thought! I will write a bit more when I reach Singapore.

Posted by Bus3rd > 2014-12-31 22:57 | Report Abuse

E&O failed to make announcement today as promise for thr free warrant and bonus date and they failed also to come out with the tender

Posted by tan5995 > 2014-12-31 23:21 | Report Abuse

dont trust E&O, who buy who die

Posted by Bus3rd > 2015-01-01 08:55 | Report Abuse

Die lor

Posted by Bus3rd > 2015-01-01 11:50 | Report Abuse

Tan shud we sell ? Buy?

Posted by tan5995 > 2015-01-01 14:33 | Report Abuse

i sold 2.34 on last week

Posted by PakChuiCheng > 2015-01-05 10:02 | Report Abuse

Me too sold 2.33. Lousy stock

Posted by gweilo > 2015-01-05 17:05 | Report Abuse

maybe something wrong with global fixing of all markets and whole financial system about to collapse ? the banksters have ruined it for everybody ! look at usd ? usa is bankrupt and yet dollar very strong ? dat be crazyness for sure. whole thing will fall down soon. japan prolly be first.

Posted by Saturn > 2015-01-05 22:06 | Report Abuse

Looks like it will be a dissapointing warrant price when listed. It will be approx 34 cents to 40cents as opposed to a 47cents. Again it can be viewed either way....Terry saved the day by supporting the price when it was dropping and took up 3million Shrs in the process or we can query his choice of VWAP date instead of an earlier date. You see he has got the day after EGm Nov 28 to start the avg and announce it there and then but they chose the date when the price fell steep. Is falling towards rm2 and Terry bought 3Million shrs presumably between 2.04 to 2.08
Take for example Fitters which did the similar exercise for free warrant and bonus recently however with different ratio but also done by HLIB. The VWAP Was done immediate 5 days after EGM and the premium was 3.09% as opposed to the steep 25.69% due to delay.

Now this does not mean all bad. It really depends on how you play it. I have shared many times that I play 30% of my stocks with 20% margin. It would be impossible for to tell anyone when to sell as explained earlier. The next few days, they will announce the ex-date I am expecting to be 21st Jan or so followed by the quote and listing date for both. In my opinion, and I hv written on this before also (ref to 2013 end write up) which I mentioned due to DIBS ending Dec 31st 2013 and due to hedging there will be a rush. And similarly I mentioned again couple mths back that I am expecting something similar due to GST? Reason being Is property is under exempt rated and that mean no tax on buyers. After all buyers already hit by RPGT to slow down the selling and avoiding further price escalation. If they slow down further the buying also, the banks will go bust, while the cycle of buying and selling property will stop instantaneously., property developers will also go bust and our economy will go chaos. This is true however Property Developer will have to bear the tax. So this cost will have to be passed on right? So no tax to buyers but price will be higher factored with tax bearded by the developer.. And today there is a write up on this.

http://www.themalaysianinsider.com/business/article/penang-property-sector-braces-for-rush-as-gst-looms

The chinese are waiting to take on this developers that go bust and our govt must surely be aware. They should already know that many non property companies are trying to get in to this market in anticipation of the years ahead....like Euro, OSK, Hap Seng, etc
So think again what will happen when we have weak govt and opportunistic investors waiting at the door. Do you think when you are broke, you can be choser....can beggars be choosers. While some of the business can be taken up by cronies, they can certainly not take all

Have a thought!

Posted by Saturn > 2015-01-05 22:16 | Report Abuse

Today it's no longer profitable to build low cost property. As you can see even along Jalan Bangsar, there is a mix of low cost and high valued property. Similarly many other parts of KL and PJ for that matter. So in retrospect, building a low cost on high valued land vs high end property on similar land, which will be more profitable. ? The answer is there when you see low cost building collapsing as the margin that the contractor and developer gets is simply not worth their effort.

Posted by Saturn > 2015-01-05 22:47 | Report Abuse

So will the EnO price move tomorrow ? One way of looking at this is that the base card has been revealed. The base card being the RM2.0686 TEAP and the exercise price at RM2.60. Many have been dissappointed by the exercise price because initially it was supposed to be rm2.90 and then rm2.72 and now confirmed at rm 2.60. This means that they have bridge the gap between TEAP to exercise price however it is still high at 25.69% . Remember for premium, the lower the better right? To decrease the premium at fix exercise price would mean lessening the gap nearer to 2.60 while increasing the gap will see a higher premium.
Who would benefit if the premium is high and takers are low? Isn't EnO raising funds fr this exercise? If you put your money in bank with the intent to gain, would you consider one with higher interest rate or lower? If your answer is high takers, yes and higher interest rate, wouldn't you want the possibility the same if you do not want to take loan. After all , market capital is interest free In a time when inflation and bank interest rates are rising. Money fr market that rises will bring more takers and allow leverage. Think of it this way, if 10ppl invest rm1 you get rm10. But if a proper value is created for the rm10 example appreciate in value and demand, the rm10 can become say rm22 and you will Hv addition rm12 leverage which will be free cash flow.

Don't you think that is better?

Posted by Saturn > 2015-01-06 21:59 | Report Abuse

I hardly think it is a coincidence when all are falling flat for Malaysia. Could it be Malaysia or a few countries targeted in Asia. Check your facts starting with CPO and ending last year with weakening Ringgit and oil price. I am not confirming nor am I sure what is it that is pushing this with intent. As this is NOT a natural disaster, it makes figuring a little harder. After all who really know what the other person or country is really thinking about.
One thing worth a deeper thought is why us even though we may not know the core reason but we can figure the reason on surface. Ultimately we hv to accept that we hv a weak Goverment compared to Mahathir's time. Even as simple as making statement, we can already judge the wisdom amongst the leaders.

Firstly a strong leader like Mahahtir, all decision goes to him. This include ministers in his cabinet making statement, dealing with serious issues, perception, country's economy, and corruption money distribution.. You see when everything goes thru you, you are the BOSS, and you determine the distribution but when everyone has a business in making a country's decision, everyone is a BOSS and you become just a figure head. Mahathir is a true BOSS because not only decisions must be approved by him, even laws are ammended to address the powers of the royalty. Even corruption maybe a case of dissemination by the boss as opposed to everyone for themselves. In that case, even the perception may not be good fr the moral standpoint, everyone recognise the BOSS as the head. After all who cares moral when country is stable and everyone has a share as long as the BOSS calls are followed.

Secondly, the idea, creativity and believe must be there. Remember when we went thru the AFC ? Mahathir came out and pegged the currency to stamp our exposure, made open statement for ppl to sell their personal gold and importantly to ensure money continues to change hand. By doing all of his suggested, the believe and idea is that the economy continue to churn and slowly but surely coming to it own again. What he did was to kickstart the economy. We didn't appreciate that then and took it for granted of his suggestion while his policies took place. We then complain but we were sure things will improve because the BOSS always strengthens and correct even if it's a mistake. He redress issues and not allow them to beleaguere. So far in the current administration, we hv been thru recession, CPO demand dropping, oil price dropping, weak ringgit, etc and yet we have not seen any statement to address our situation while mega problems are being self created in the 1Mdb issue.....

Thirdly, the BOSS doesn't behave like a full dictator in the sense that he will still address actions that he has taken. Case in point, the Anwar Ibrahim sodomy. He continuously assured the ppl that he was convinced with facts about the immoral activities that Anwar did. While the truth and the case itself is secondary to this argument, the point here is that Mahathir continued to explain his stand as opposed to asking ppl not to question or even worst remain silent while using sedition act discriminately to shut the ppls views.

Fourthly, we hv also shown the world we cannot handle our own problem starting from missing Air Force jet engine, to murder without closure, to failed resolution in the religious issue, to our handling of MH370 esp cargo manifest ....and now the Paul Phua issue

Now coming back to our point on whether it is a coincidence or not in all the happenings, the four points will tell you we are susceptible to bullying for the rich resource that we have and soon those with baggage will be held at ransom. We will then be at the mercy or maybe things maybe better then....

Posted by Saturn > 2015-01-06 23:20 | Report Abuse

AMMB reiterated the RM9.47/shr Based on full valuation however conservative. TP4.73 at 50% discount fr 9.47.

Ok ok...let's break it down slightly. Some argue that property sales will be tough post GST while I argue that the STP2 will be many years ahead.
They argue that sales will drop despite STP2. I argue that all Developers are in same boat
They argue that all developers will fail, I argue that buyers are global
They argue that local developers will produce lower quality property to ensure higher take up and bank loan approval while I argue that lower quality will be on lower valued land and would be further inland or outside key areas
They argue that infrastructure and transportation is improving, I argue centralize core area in Malaysia remains valued high and higher overtime
They argue more take up better than niche take up, while I argue margins is very high for niche market
They argue cost of sale lower for low end property while I argue cost of development is lower for high end
They argue that lower end property overtime will have value higher in percentage while I argue that value stability is at higher end property
So in STP2 case, we know the valuation is more likely escalating. This means even if they take 3 years, 5 years or 10years to develop, the conservative price will be much higher because of land scarce in Penang Island

Posted by cipapo > 2015-01-07 07:57 | Report Abuse

in a bear market they can argue all they want but its still gonna crash because it havent hit 1 year low

Posted by Saturn > 2015-01-07 10:22 | Report Abuse

In an enviroment like we have, with Bank Negara giving guarantee on Govt project, banks unlikely to increase its loan base, country's revenue affected by Oil and CPO, one really have to decide whether it is safe to keep a whole lot of money in bank?

How does Bank Negara sustain if it get into trouble? Today we use investment vehicle for investment purposes, like Khazanah, EPF, Equinas, errerr 1Mdb and so on but main Forex is still with Bank Negara yes? We do not know the health state of Bank Negara do we? To most of us Bank Negara is a policy maker and enforcer just like Security Commision is to trading. However how many of us actually understand that Bank Negara OPR is the rate that they as Central Bank will provide to banks under its charge and in that way they regulate the system.
For example, if a bank gives you a 2% loan for business, you must generate business above 2% right? So similarly with Bank Negara to the Banks.

So for those who remember Soros and the stories that came with him and Mahathir, would know what the feud is about. While most talk about market crash, and repeat market crash, ...this is just a blanket statement or surface statement without understanding what can come with it. When we apparently lost in the forex dabbling those years, we blame SOrOs because Malaysia bet an opposite currency to what Soros was doing. I won't get into the depth of that argument but it's suffice to say that we lost big time and the reason above the opposite bets in currency against Soros was that Soros manipulated the currency by dumping and buying the opposite currency. This creates a surplus which however he already made his money fr that currency and moving to the next currency while Malaysia was catching the falling knife in the currency that SOrOs sold.
In the modern world we live in, this is to repeat itself with Oil, CPO, and modern economic warfare. One warfare is fought using TPPA as we all know controlling, and enforcing policies allow the larger market players control the equilibrium of the market better. Similarly in oil, where we don have a common policy controlling stakeholders especially outside OPEC.

Knowing this and knowing that the market is now an open one, many have the choice of investment in and out of the country as oppose to Mahathirs time. We are no longer bounded by just Malaysian currency for one or even Comission paid in MYR May not hold true anymore. Even many are PRs in other country while holding Malaysian passport. If you understand where I am getting at, market can crash however it will no longer be totally Malaysian stakeholder who will be affected.


Got it?

Posted by Saturn > 2015-01-07 10:45 | Report Abuse

We are in bear territory because our market is weak. When DJIA a and S&P was bullish towards end of 2014, we were in the negative region, when oil price degenerated we fell weaker and the above mention story will tell you why we fall weaker and weaker. I believe very strongly that eventually for Malaysia the sectors will eventually hold their own. This means that players will only focus on the individual sector index if Malaysia continue to be susceptible to market manipulation like oil and CPO.

Think of it this way, with the global oil price dropping and essentially providing cheaper fuel for Malaysians beginning 2015, the sectors depending on oil indirectly will benefit however the sectors involved in this, will be hit. Sectors hit will be anything from the contract owners to sub contractor of OnG such as piping, pigging, offshore dredging, etc.

If the sector that depend indirectly to OnG for business consumption will benefit from the cheaper landing price now, however their contracted selling price remain the same. This means the profit margin will increase and it is similar to forex and currency exchange at purchase especially those who need to buy fr abroad.

Think and think deeper! Answer will be revealed by market, not me. I am only facilitating a thought.

Posted by Saturn > 2015-01-07 12:47 | Report Abuse

Within the next 2 days, the ex- date for Bonus and free warrant should be out.

Judging fr the oil price below 80 before the year ended should give many industries a chance to gauge their operating cost by hedging while leaving another notch of hedging for below 40/barrel. If below 40 is consistent many say petrol price in Malaysia may go1.20 to 1.40/litre. Mind you at this rate many petrolstation operators may go bust.

This is not a secret and I hv confirmed with many in the industry. You see the owner operators are required to buy a minimum qty of petrol and diesel to meet quota. Hence their price is already fixed when the retail price came down.
With the information above, investor and industries dependent on Oil may choose to hedge while leaving a bit for the price to fluctuate. They are doubtful that the Govt will choose to reduce it further to a such a low price because apart from operators dying, many of them will also choose to take minimum qty and this may create a situation of shortage of supply.

Imagine this, shortage of supply with high demand will increase the price in normal situation. In our case, since the Govt chose to be opaque in the way they calculate the petrol price, the price may be at any price they choose due to loses incurred by the operators and the possibility of shortage in supply to the consumers if prices are allowed to go another notch down.

Think and free yourself from rumors!

Posted by Saturn > 2015-01-07 14:04 | Report Abuse

As I hv mentioned, EnO is not for everyone. Not for those who do not understand the stock. You may not see TA and definitely not FA ppl here. For a start, the company works on a reverse gear being niche in their industry. What that means simply is that the get accorded and saddle with the outcome before they are recognise. In many cases and I will cite you one which is close to happening ie STP2, which it has been accorded high GDV which hasn't happen yet. Hence this GDV cannot be even accrued with land valuation even if it has been confirm. This is the reason why, many guessed that they will sub the first piece of land out for development and start the valuation fr there.
Imagine a simple look at this...the breakeven mentioned by AMMB Is at RM94 psf for gross land while land valuation can be 5 times of that even before development profit is factored in. Hence AMMB is very upbeat on EnO and accorded it the TOP Property Stock on its list.

http://www.theedgemarkets.com/my/article/eo-rises-56-after-being-picked-top-property-stock

Those land Developement that are straight forward would include the land they bought while factoring the adjacent development valuation to have an idea of the kind of margin they would be making. Thus in the case of EnO, this will be BIG even when factoring the nett land they have once reclamation is completed. There is a nett land which comes fr the fact that EnO upon completion, will surrender some parts to the state govt as agreed. Even then, this comes as a win-win situation because the land will be used for public ammenities which include infrastructure which again will elevate the value. My guest and many others who have factored adjacent land price near Tanjung Tokong would come up with very similar opinion as land becomes scarce in the island.

Posted by dyni > 2015-01-07 17:26 | Report Abuse

e&o continue moving up today

Posted by Saturn > 2015-01-09 21:32 | Report Abuse

Is Indonesia and Malaysia at war or maybe Cold War??


http://omakkau.blogspot.com/2015/01/kapal-nelayan-malaysia-di-letupkan-oleh.html


http://www.freemalaysiatoday.com/category/nation/2015/01/09/surabaya-wants-to-sue-air-asia-indonesia/

Posted by Bai Zun > 2015-01-13 22:12 | Report Abuse

E&O up again. Miss the boat

Posted by labursaham > 2015-01-15 08:38 | Report Abuse

My cousin who works with him mentioned he needs money for his ESOS. But I think the move is a bit silly because delayed gratification is more rewarding. That said that was his decision.

On the other note, any weakness in share price is a buying opportunity. Just because US and Europe were weak not a good excuse for it to drop 9sen yesterday. The free warrants itself already worth 60-65 sen each based on black-scholes model. And bonus issue will only lower the cost and history has proved, because don't remember the corporate exercise, they only remember the price.

Posted by saujana > 2015-01-15 13:02 | Report Abuse

E&O got cooperate with magna for kl project? Magna share just move...

Posted by Saturn > 2015-01-15 15:03 | Report Abuse

I hv mentioned before that Malaysia does not belong to Malaysian anymore, and the news pertaining Forrest City in Johor proves just that.
For a starter, the project involves massive massive reclaimation of 4 man made island. Some of you may wonder why I am bringing this up especially when E&O is doing the same? Fyi, E&O has taken many twist and turn to get to this point. This include the whole process of DEIA which then I told a certain Burger that it will take sometime to be approved. Of course then it was 2012 when this was mooted in serious discussion as STP2 reclaimation was controversial after what happened to STP1. You see accordingly STP1 had all the technical aspects and approval for the reclamation but not the live experience of what will happen. And also then many thing were approved by the Gerakan Soh chai then that include among many thing were which included STP1 reclamation works and concessionaires. The DAP Govt has learnt a lot from there and many of their approvals were conditional. It was so because many of the agreement that were signed during the STP1 were besiege by the concessionaire. Of course having said that, those contract can be nullified with compensation however the amount was large.
While having looked at this situation as well as the fact that Penang Island was getting very congested, the DAP CM decided to go ahead with the project while also able to avoid the compensation of contract being nullified. Win-Win? It's only a win win situation if the whole project was properly scrutinized.
How? For those esp the Burger remember I said that the DEIA is a long process would remember that approval for stage 1 was merely to inform the public that the State Govt agree to procee in talks for the DEIA. Many mistook it as a blanket approval for the reclamation to proceed. Hence Stage 2 was where the DEIA process were underway. This includes studying of the land and soil, the technical process and methods to reclaim, the effectiveness, the harm that it will bring to the natural setting, enviroment and habitats, the cost,......and also of course the feedback from public and the 45 days of display of findings and reports which was held at Komtar. This eventually led to the formal addressing of DEIA, the conditions and finally the approval. Now EnO has to ensure these conditions are fulfilled by the contractors thru the tender requirement.

In the case of Johor, Forrest City will be more complex and sizable, however the approval was given without any formal condition which case if we follow Penang, by right they can only start in 2017 end base on the size and complexity. Here again DOE is the first step, and we should be vigilant on the next approval which thru the same process should lead us in the same proceedings as EnO.

What has this got to do with Malaysian not own by Malysians? Well to begin with Johor is infested by the Chinese investors. This project was also initiated by the Chinese and I was told they went ahead with the reclamation. And thanks to the Singaporean govt who lodge a formal complain, this was put to a halt for the shortest time and now it's approved again. So the Chinese superpower is now having a big controlling stake in Iskandar and Johor together with their Singaporean investors.
If Johor, Penang, Singapore, Sabah, are heavilly controlled by Chinese investors, the Middle easterns are controlling the Golden triangle. While malay may not know, slowly and surely when majority assets are own by foreigners, the country is just a puppet eventually because they are valuable assets. Fundamentally as what we see in the way the Govt is runned, we may not be able to afford buying back theree assets later even if we wanted to. And I hv not even mentioned the Japanese and the European investing here.

While our counterpart in Singapore are bringing in high level foreigners even from Israel, US, UK, China, etc to join the development and to provide ideas and even joining their military to impart expertise, Malaysia is bringing is low level foreign workers. Soon we will not even be able to afford this worker and maids leave alone develop the country. 2020 is just around the corner....to be precise 5 years away and the country is selling out.

What do you think will be the scenario of our market then? Remeber beggars cannot be choosers.....

Posted by Seilok > 2015-01-16 22:32 | Report Abuse

Who to believe? Saturn says free warrant 34 to 43 cents and labursaham says 60 to 65cents base on black scholes....experience vs technical. Who will be correct?

Posted by labursaham > 2015-01-17 13:23 | Report Abuse

I have reason to believe the share price was intentionally suppress so that the warrants will be cheap. Whether it is experience or technical, the instrinsic value of the warrants depend on the mother share price and also the implied volatility. Based on current price, after ex-date at RM0.45 sen, then the warrants will be trading at 35% premium to mother share. Whereas at current price, after ex-date at RM0.60, then the warrants will be trading at 45%. Then it all depend whether the share price is intentionally surpressed before ex date or not? If the view is YES, then the 35% and 45% has been overstated. I.e. The 35% or 45% premium is not actual and should be lower. Bear in mind, as the share price increases, the premium reduces, ie. Warrant is cheaper.

Your take.

Posted by Seilok > 2015-01-18 17:30 | Report Abuse

Labursaham, just hope for the newbie not so confusing while we understand that premium reduces warrant is cheaper, they could also understand it as literally cheaper. Hope you are ok that I say it this way, "when premium is lower, warrant is more attractive" just my thought

Posted by labursaham > 2015-01-19 07:39 | Report Abuse

seilok: Thanks.

I think one has to understand this bonus warrants compare to the warrants that comes with rights issue as sweetener. In this deal, you get your warrants and bonus shares right away. So they have to suppress the share price before ex-date to accumulate warrants. Then after ex-date, the mother share will re-rate. Then your warrants value will increase.

In other rights issue exercise that comes with free warrants as sweetener. They have to do the opposite. They have to push up the share price for you to subscribe. Then after ex-date they won't do anything until you get your rights share plus warrants. Then only they will suppress mother share to accumulate the warrants.

Current price is low if you think the warrants worth something.

Posted by Seilok > 2015-01-19 09:46 | Report Abuse

Terima Kasih!
So you think the free warrant after listing will go up?

Posted by labursaham > 2015-01-19 11:26 | Report Abuse

Historically it outperforms KLCI... So, very probability that the free warrants will go up. Let's see it will touch RM2.85 in the mid-term.At that price it is still lower than the price Sime Darby sold its share to E&O's MD in 1Q2014.

The bonus share and warrants will lower their cost be it for Sime Darby and the MD. Going forward, it should be execution of the company.

Posted by jollywin > 2015-01-19 13:29 | Report Abuse

May I know did E&O gave any complimentary voucher/discount for shareholder ? If yes, how many unit for that entitlement and how much is it ?

Posted by Saturn > 2015-01-20 08:49 | Report Abuse

Many moons ago I mentioned that the departure of Liew Kee Sin fr SPSetia will create a vacuum in leadership at the organization and also leadership needed for Battersea project in London despite the fact that he is still a Project Chairman there then. Reason was LKS no longer has the concerted effort to run SP fr the top.

On the other hand I also mentioned that M&A would restructure the PNB umbrella of property developers into one namely I&P, Sime, SPSetia, and EnO. However this can only be achived in stages as the effort to restructure is to refocus, realign to improved efficiency and effective use of assets during this inflationary period.

As with the lessons learned fr LKS and SPSetia, PNB thru Sime will not repeat this same mistake with E&O. In SPSetia, PNB took everything thinking they can control the company and mgmt by doing that before the key major task and project was completed. (Read my earlier comments for more)

In E&O, they cannot afford the same mistake. Hence the accumulation by Sime up to 32% was a really risky move especially then when the STP2 approval was not in yet. The release of approx 10% back to Terry and Snr Mgmt was a better move.
Together with the story above, apart fr those to do with strategy, my story also continued with Terry taking the role of LKS in London Battersea. The reason was that Terry was based in London and is familiar with the landscape, infrastructure and relationship necessary to manage the projects of that size. And now we see E&O's latest foray into Tower Thames and Landmark hse, on top of the Prince Hse, ESCA Hse and some lands earlier.

The above has put E&O in better footing especially income coming from UK which will diversify income stream away from Malaysia and to hedge because of our weak RM and uncertainty in Malaysia management with a more certain income and development.

Have a thought and draw your conclusion to invest wisely.

Posted by jeannie > 2015-01-21 10:19 | Report Abuse

how true, Sime is merging with SP Setia...just heard this news..SP Setia is moving now..will this help to boost E&O too

Posted by jeannie > 2015-01-21 10:20 | Report Abuse

sorry its PNB merging these two

Posted by spaghetti932 > 2015-01-21 12:22 | Report Abuse

any idea what will be the idea price to enter? now is dropping to 2.08 ... thinking of entering, but not sure what be the worst case that it will drop to.

Posted by giorgio > 2015-01-21 13:18 | Report Abuse

kekeke

Posted by tan5995 > 2015-01-21 13:59 | Report Abuse

don't buy this lousy counter !

Posted by tan5995 > 2015-01-21 15:12 | Report Abuse

now 2.05, no support

Posted by tan5995 > 2015-01-21 15:15 | Report Abuse

index up 9.78, E & O down 0.09, Ha Ha Ha

Posted by tan5995 > 2015-01-21 15:17 | Report Abuse

buy rate only 23% !

Posted by tan5995 > 2015-01-21 15:29 | Report Abuse

don't believe bonus issue, luckily i sold all before ex date

Posted by PakChuiCheng > 2015-01-21 16:27 | Report Abuse

Hahahaha...

Posted by Joel > 2015-01-21 21:25 | Report Abuse

http://www.klse.info/counters/historical-prices/stock/3417

Refer to above link's info related E&O share price b4 Bonus Issue 10:1,

Price on 19 Jan 2015 closed at rm2.48.

The Ex-date of Bonus Issue were on 20 Jan 2015, open with RM2.25 ( after adjusted )

Price closed on that day ( 20 Jan 2015 ) at rm2.14 , down rm0.115 around@rm0.12

Today ( 21 Jan 2015 ) price adjusted closed at rm2.05, down rm0.09.

Tomorrow will be diffrent for E&O.

Posted by Joel > 2015-01-21 22:05 | Report Abuse

The E&O's share price adjust are limit today.

Posted by labursaham > 2015-01-21 22:18 | Report Abuse

Weakness is expected for those that want to accumulate the warrants. At 2.05 it is already the support and volume when it's coming off is drying up. After the warrants are listed, re-rating will begin. Only for those that has holding power and believe in long term of the company.