lionel messi - I am very surprised the See family and EPF were not able to stop this rip off exercise.
Likewise - i was wondering how come EPF & See did not team up & call a meet to clarify & discuss the strategy in response to this MGO. In my text messages with Anthony, strangely he just advised me not to sell but sign the form to save on brokerage - none of his usual protest.
If you look at Can1 annual report, EPF is not in the top 30. Hence they have interest to ensure that they the get full compensation for their KJ stake.
Unlike us, EPF & to a lesser extent the Sees have the gravitas to squeeze more from this acquisition.
Sheldon, like I said, maybe they are being pushed to a corner. Damn if you do, damn if you don't. Maybe age is catching up, too tired to fight anymore. But maybe not....
Smart market players like them must have a plan B. It's in their blood. One workaround is to buy into Canone since it is listed and if it's undervalued.
Too illiquid, tightly held and no scrip? Wait till they proposed a massive rights issue to pay off debts. Will be plenty of sellers then.
Canone cannot run away from a capital raising exercise because their capital base is too small to support their operations. After the KJoo takeover, they are now in the billion ringgit turnover category.
KJoo subsidiary Boxpak is next to be taken over since more than 90% of the shares are held by the top 30 shareholders and little or no trading everyday. Makes sense to delist since it's way below book value, consolidate the whole operations and move away from all the compliance issues.
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....
qqq3
13,202 posts
Posted by qqq3 > 2019-03-23 10:48 | Report Abuse
the SEE Family has lost Kianjoo years ago.........while the brothers were fighting, Canone boss has taken control of Kianjoo years ago.......