The 2nd Generation , Lau Tuck Joh 流凸左 , was the fella handling amounting 250m hedge fund in US . Few years back , US news reported him hanged with the High Class Bxtxh - Paris Hilton , enjoy personal cruise , drink luxury shampain x RM 8k a bottle...
Projects to be implemented include 316-kilometre West Coast Expressway from Banting to Taiping as well as double-tracking projects from Ipoh to Padang Besar and later from Gemas to Johor Baru.
Intrinsic Value for this stock is RM2.69. This is still not including new prod line ( which will double the prod output) and also extremely good prospect of mobile rescue.
Tycoon Tan Sri Surin Upatkoon and Pinjaya Sdn Bhd made a takeover offer for MWE Holdings Bhd for RM391mil in cash and deferred amount, sending the share price up to a high of RM1.60.
MWE said on Monday they had offered RM1.70 a share which would comprise RM267.49mil in cash and deferred amount of RM123.91mil owed by Pinjaya to MWE. Surin owns 75.1 million shares or 32.62% of MWE via his direct stake of 0.34% and an indirect stake of 30.80% via Pinjaya.
Only fools will accept this offer. Owners will have no choice but to purchase more shares from open market which will drives the price up for sure,anything lower than rm2.50 is a steal.
The last quarter result showed horrendous losses. Yet Surin is offering Rm1.70 to take MWE private. What is Surin's End Game?
A look into MWE shows textile contract manufacturing, telecom business and others all hit by recessions. However MWE has 25% stake in Kumpulan Euro Plus & 5% in MphbCap. A closer look reveals that Surin & MWE own a total of 37% in Mphbcap.
Is there something Surin SEE in MphbCap?
What is it?
Ha! MPHBCap owned 4600 Acres of Prime Lands in Pengerang at 82 cents psf.
Johor Govt alienated 2,800 acres from MphbCap for 90 cents psf then Resold to Pengerang's RAPID for Rm8 psf.
Just Side by Side With RAPID is MPHBCap's 1,800 Acres Remaining Prime Lands.
Now the RM10 BILLIONS QUESTION IS:
IS THAT GOLDEN 1,800 ACRES OF PRIME LANDS IN PENGARANG OWNED BY MPHBCAP THE FINAL MOTIVE FOR MWE'S PRIVATIZATION?
LAST TIME THE INDONESIAN OWNER WANTED TO TAKE HARRISON PLANTATION PRIVATE AROUND RM1.30 TO RM1.40
THEN ONE SHAREHOLDER FROM USA CALLED PETER BOUGHT AND BOUGHT HARRISON UNTIL HE BREACHED THE 10% LIMIT -THUS PREVENTING HARRISON PLANT FROM BEING TAKEN PRIVATE THROUGH A MANDATORY GENERAL OFFER.
IF SOME ONE CAN BUY UP MWE UP TO 10% AND OPPOSE PRIVATIZATION, WHY NOT?
KEURO IS RATHER EXPENSIVE FOR SURIN
THE MEAT IS IN THE TEXTILE FACTORIES IN VIETNAM - ALL THE MORE VALUABLE DUE TO TPP.
BUT I THINK THE GOLDEN MOTHER LOAD IS IN MPHBCAP'S ASSETS.
A simple calculation formula that will reveals how much MWE earns in this quarter ?
Adding all the impairment cost (58.1+12.3) = RM 70.4 million. Then, subtract it with pre-tax loss (70.4-56.6) = RM 13.8 million. (Estimated EPS = 5 sen)
Based on the recent financial year, it seems not that difficult to maintain 5 sen net profit per Q. After third phase expansion of its garment facility in Vietnam has been completed, its net profit per Q would be easily double up.
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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....
necro
4,726 posts
Posted by necro > 2012-04-16 17:54 | Report Abuse
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