Posted by malaysiaboleh > 2013-05-15 07:44 | Report Abuse

Company Name MULTI-PURPOSE HOLDINGS BERHAD
Stock Name MPHB
Date Announced 14 May 2013
Category Important Relevant Dates for Renounceable Rights
Reference No MM-130514-61039

Title / Description Renounceable offer for sale by Multi-Purpose Holdings Berhad (“MPHB”) of 715,000,000 ordinary shares of RM1.00 each in MPHB Capital Berhad (“MPHB Capital”) (“Offer Shares”) to the shareholders of MPHB on the basis of 1 Offer Share for every 2 existing ordinary shares of RM1.00 each held in MPHB as at 5.00 p.m. on 29 May 2013 (“Entitled Shareholders”), at the offer price of RM1.00 per Offer Share (“Offer for Sale”)
Despatch Date 31/05/2013
Date for commencement of trading of the rights 30/05/2013
Date for despatch of abridged prospectus and subscription forms 31/05/2013
Date for cessation of trading of the rights 06/06/2013
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 17/06/2013
Listing date of the Rights Securities 25/06/2013

Last date and time for Date Time
Sale of provisional allotment of rights 05/06/2013
at
05:00:00 PM
Transfer of provisional allotment of rights 10/06/2013
at
04:00:00 PM
Acceptance and payment 13/06/2013
at
05:00:00 PM
Excess share application and payment 13/06/2013
at
05:00:00 PM

Posted by imoogi99 > 2013-05-15 09:02 | Report Abuse

Finally....the road is clear....Although you pay RM1 for mphb capitals, you get back 98sen after capital repayment when the deal is done...so basically you get mbphb capitals share almost free. Buy 2 Free 1.

Posted by KC Loh > 2013-05-15 09:26 | Report Abuse

Go go go

Posted by jtpc2006 > 2013-05-15 09:32 | Report Abuse

where does it say we can get back 98sen after capital repayment, and when can get back? I read only the offer for sale of 1 MPHBC for every existing 2 MPHB ? pls clarify, thanks.

Posted by imoogi99 > 2013-05-15 09:41 | Report Abuse

Summary of the offer in layman terms... http://www.theedgemalaysia.com/in-the-financial-daily/218898-details-of-multi-purpose-holdings-demerger-released.html

If need further details, go to bursa website and see the announcement by mphb.

Posted by imoogi99 > 2013-05-15 09:44 | Report Abuse

http://klse.i3investor.com/servlets/staticfile/159239.jsp

Posted by Titicamara > 2013-05-15 10:38 | Report Abuse

MPHB's exercise is so much faster than Bjtoto.

Posted by joncsk > 2013-05-15 10:54 | Report Abuse

now MPHB is a bit high already

Posted by cmtee1198 > 2013-05-15 11:07 | Report Abuse

Agreed with you Titicamara, thumb up for all the relevant parties, Bursa Malaysia, SC and MPHB.

Posted by armadasaxon > 2013-05-15 11:17 | Report Abuse

still prefer bjtoto as their dividend is better.

Posted by jtpc2006 > 2013-05-15 12:23 | Report Abuse

MPHB price too high to go in now?

Posted by Simon Lee > 2013-05-15 12:24 | Report Abuse

Hi Brothers, my father is holding 40,000 MPHB shares and he asked me what can he get? Or shd he sell the shares now. Being a layman myself, I cant answer. Can anyone help us plse. THANKS

Posted by smartly > 2013-05-15 12:40 | Report Abuse

keep la.

Posted by imoogi99 > 2013-05-15 16:11 | Report Abuse

Option 1....standby RM20k to buy mphb cap. Mphb cap go higher than rm1.00 sell at profit and then wait for capital repayment of RM19.6k.
Option 2....wait for the listing of rights and sell the right. Wait for capital repayment of RM19.6K. Keep the mother for dividend. No capital outlay on this.
Option 3....sell now and get nothing except some gain if you buy mphb at cheaper price.

Posted by Simon Lee > 2013-05-16 00:27 | Report Abuse

Thanks Bros smartly & imoogi99 for your explanation.

Posted by member41 > 2013-05-16 01:03 | Report Abuse

Dear guys, just checking if i living outside Malaysia am i still entitle to the 1 for 2 MPHB cap shares? Thanks for advices.

Posted by Rosma mk > 2013-05-16 09:36 | Report Abuse

If you are still the shareholder as at the cut of date, sure you are entitled. Registrar will notify you .

Posted by hornetsjet > 2013-05-16 21:19 | Report Abuse

hey..how to buy? the MPHB capital share?

Posted by member41 > 2013-05-16 23:58 | Report Abuse

Thx rosma

Posted by mm310 > 2013-05-17 11:17 | Report Abuse

dropping... despite the FV given by all analyst is higher than 4.20 at least...

Posted by Rosma mk > 2013-05-17 11:58 | Report Abuse

hornetsjet ;- Buy MPHB before x date. xdate 27/5. check the announcement. or else tunggu ipo

Posted by malaysiaboleh > 2013-05-17 17:58 | Report Abuse

Buy now or regret later.. Good Luck

Posted by mm310 > 2013-05-21 11:39 | Report Abuse

why is it still not moving up... ex date next Monday!

Posted by malaysiaboleh > 2013-05-22 13:56 | Report Abuse

Is time to collect ? Bullllssss

Posted by hyq1121 > 2013-05-22 16:30 | Report Abuse

yeah! time to grab...

Posted by lmf_hau > 2013-05-23 11:15 | Report Abuse

Sorry for all , is my mistake .
2,000 share MPHB , entire 98c capital repayment.

means 1,000 share MPHB , entire to 48.5c capital repayment.

It will only exercise in 9'2013.

Posted by lmf_hau > 2013-05-23 11:45 | Report Abuse

Oriantal Press

溢价吸引　市场喊买MPHB资本

（吉隆坡15日讯）随着马化控股（MPHB，3859，主板贸服股）公布MPHB资本将於6月25日在马股挂牌，消除了市场对该集团业务分拆计划不会实现的疑虑。

分析员也建议马化控股股东认购MPHB资本的股票，因为该股的潜在溢价相当吸引。

分析员普遍看好马化控股把非博彩业务转移到新公司－－MPHB资本，并让後者在6月25日上市的举动。

以上最新进展带动马化控股周三的股价走势，该股在盘中交易一度上涨16仙或4.04%，至4.12令吉全天最高价位。闭市时，该股报4.09令吉，全天起13仙或3.283%。

配合业务分拆活动，马化控股将限制献售7亿1500万股MPHB资本的股票予该公司股东，献售比例为每持有两股马化控股股票，可认购1股MPHB资本股票，每股献售价为1令吉。有关限制献售的除权日和过产日分别为5月27日和5月29日，而认购截止日期则是6月13日。

至於无意认购MPHB资本股票的马化控股股东，可以在5月30日至6月6日期间出售他们的限制认购权益。

最後，在MPHB资本挂牌後，马化控股将在9月份进行0.97令吉（两股马化控股，每股0.485令吉）的资本回退。

马银行金英投行分析员指出，虽然马化控股股价自全国大选後已经上涨14%，不过买进马化控股的投资者仍可免费获得价值每股0.53令吉的产业资产，而且一旦MPHB资本上市，有关价值将获得释放。

他补充，完成业务分拆之後，马化控股的派息率也将提高至80%以上，这相等於每股约17仙的净股息，或相等於4.7%的周息率。

同时，他指出，若以SOP财务估值法计算，MPHB资本的合理价格为每股1.99令吉，所以他建议马化控股股东认购MPHB资本的股票。

「MPHB资本的每股献售价为1令吉，而其合理价为1.99令吉，加上马化控股将在9月回退0.97令吉予股东，因此算起来股东真正只支付3仙认购一股合理价为1.99令吉的MPHB资本股票。」

另一方面，安联研究分析员提醒投资者说，由於此业务分拆活动是通过限制献售进行，所以一旦MPHB资本上市，马化控股股价不会出现任何调整。不过，马化控股在9月份进行0.97令吉的资本回退，相对其股价将会调整。

他认为，MPHB资本限制献售除权过後，马化控股股价或将面临下行风险。

无论如何，现阶段，他维持马化控股「买进」投资评级和4.21令吉目标价；有关评级和目标或在该公司公布首季业绩後将面临调整。马银行金英投行也维持该股「买进」投资评级，目标价格为4.44令吉。

东方日报

Posted by lmf_hau > 2013-05-23 11:52 | Report Abuse

Pls refer to lastest RHB analysis Report:-

As the details on MPHB Capital’s upcoming listing on Bursa have been finalized, we are prompted to take a look at MPHB’s potential valuation upon completion of the proposed listing All in, MPHB is still a BUY, with our FV now adjusted to MYR4.39. Maintain BUY.


- MPHB is spinning off its insurance and property business for a total cash consideration of MYR190.3m, including a debt novation of MYR77.6m as well as 715.0m new shares in MPHB Capital.


- Subsequently, MPHB will offer its existing shareholders the right to subscribe for MPHB Capital shares in a renounceable offer for sale
exercise.

This will involve offering for subscription all its 715.0m shares in MPHB Capital at a 1-for-2 ratio at an indicative offer price of MYR1.00 per share.


- Our calculations indicate that MPHB Capital could be worth as much as MYR1.4bn, assuming:

i) a property RNAV of MYR736.0m;

ii) 12x P/E for its insurance arm; and iii) a pro-forma net cash balance of MYR96.4m. This will works out to MYR1.92 per MPHB Capital share.

Hence, we advocate that investors subscribe for the offer for sale.


- On 27 May, MPHB shares will trade excluding the rights to subscribe for the offer for sale. While its closing price on Bursa will not automatically adjust downward, we expect the stock price to retreat to reflect the loss of income arising from the disposal of its entire interest in MPHB Capital.

Based on our sensitivity analysis, its share price could decline to MYR3.31-MYR3.71 once it goes ex.

If we drew a parallel to the valuation of other NFO operators in the country, MPHB’s valuation could fall to as low as MYR2.98-MYR3.34.

This being said, we believe the downside to its share price would be partly cushioned by the proposed capital distribution of MYR0.49 per MPHB share by year-end.

- Our SOP-based FV stays at MYR4.39. While the upside seems limited, we reiterate our BUY and advocate that investors accumulate MPHB shares and subscribe for MPHB Capital accordingly since the MYR1.00 offer price is at an attractive 47.9% discount to our SOP valuation.

Posted by smartly > 2013-05-23 15:48 | Report Abuse

today is last day to buy to entitle RI.

Posted by hornetsjet > 2013-05-23 23:20 | Report Abuse

Capital repayment is RM0.97 or RM0.485? I am so confuse now@~@.

Posted by iQBE189 > 2013-05-24 16:53 | Report Abuse

financial results coming out soon... Wait and see=D

Posted by ehon108 > 2013-05-24 17:23 | Report Abuse

need help...how to buy the mphb capital share?

Posted by angel123 > 2013-05-25 01:30 | Report Abuse

capital repayment is 97cents for 2 lots coul be used to subcribe rights

Posted by malaysiaboleh > 2013-05-27 07:47 | Report Abuse

Ex-date of MPHCB right. RM 4.30 Soonest

Posted by Siew Jian Bin > 2013-05-27 09:25 | Report Abuse

Why drop so much today? Anyone can advice?

Posted by Siew Jian Bin > 2013-05-27 09:30 | Report Abuse

After reading the article above, I think I know what is happening. Means if I buy this share now, will get back ard RM485 in Sept and will get ard 17 sen of dividend every year if the business continue. Actually is not bad... Am I right?

Posted by hornetsjet > 2013-05-27 09:44 | Report Abuse

capital return for 2 lots? what does it mean? what if i have 10 lots now? i will get the 10 lots x RM0.97 capital return and at the same time have 5 lots of MPHB capital subscrption right?

Posted by chinwei86 > 2013-05-27 09:57 | Report Abuse

if i have 5 lots, what is the returns? Anyone can advice?

Posted by midastouch > 2013-05-27 10:10 | Report Abuse

Trading on ex-basis today. The hidden value of its non-gaming operations would now be decoupled. Alliance Research has downgraded MPHB to TP of 3.60

Posted by smartly > 2013-05-27 10:13 | Report Abuse

today already ex, mean if u buy today, u r not entitle for Right Offer to purchase MPHB-CAP. MPHB will give Capital Repayment 97sen for 2000 units in Setemper.
Those want to buy the Right Offer can still do so by buying the MPHB-OS on 30/5/2013. U can send them for exercise by paying RM1 for MPHB-CAP.

Posted by smartly > 2013-05-27 10:17 | Report Abuse

@malaysiaboleh,
not so correct, you need to take MPHB x 2 + MPHBC = ??? for your cost.

Posted by smartly > 2013-05-27 10:24 | Report Abuse

base on closing price (last Friday) RM3.89.
3.89 * 2 + 1 = RM8.78 ( total cost )

If MPHB = RM3.50 & MPHBC = RM2 after listing.

3.50 * 2 + 2 = RM9

RM9 - RM8.78 = 0.22 ( profit )

Posted by malaysiaboleh > 2013-05-27 10:42 | Report Abuse

Good Luck ..

Posted by hornetsjet > 2013-05-27 11:13 | Report Abuse

malaysiaboleh, just 2.5% profit?

Posted by mm310 > 2013-05-27 11:31 | Report Abuse

is now the good price to enter MPHB?

Posted by lech001 > 2013-05-27 11:36 | Report Abuse

yes good time to buy pending another date (capital repayment)!!

Posted by malaysiaboleh > 2013-05-27 11:42 | Report Abuse

capital repayment RM 485 per lot u have to count in ..

Posted by lech001 > 2013-05-27 11:45 | Report Abuse

Good time to buy now ?

Posted by setia2u > 2013-05-27 12:01 | Report Abuse

Good price to buy MPHB at RM3.50 now, eventually it will move up again to above RM3.60, the adjustment is too much already, at RM3.50, the OS has to be priced at around 80 sen then only those who bought before EX can recover their cost!!

Posted by malaysiaboleh > 2013-05-27 12:07 | Report Abuse

But I don't think OS can have such price, this is the trap they always created. So, as long as u can hold till the end of demerged plan .. u will get rewards.