In UK context MGO is triggered when someone with voting rights own more than 33% of a company share. But not for Malaysia. In Malaysia MGO is only triggered when someone owns 90% of a share.
Last time about 10 years ago the Indonesia Boss of Harrison wanted to take it private for a very unfair price of Rm1.30.
One Peter guy from USA kept buying Harrison shares until he got more than 10% shares of Harrison to prevent Harrison from being taken private.
Later Harrison shot up more than 200% to cross Rm3.00
So Duta Yap can only trigger MGO when he got 90% of Dutaland shares.
And for now since Dutaland is still dirt cheap he is gobbling up quietly.
Thanks for explaining Calvin. If in this case, a tad bit long way more to go. Below 50 is good price to collect as what he is doing now. My friend has 3 thousand lots in this company for 6 years ( in the top 30 shareholder list )and is waiting for the takeover day but do not know when though!!
One more question Calvin, look at Mieco. The dato Sri ah chai offered a takeover price at 1.00 when he bought the mieco shares breached 50%. ( happened last year) So, why Duta is different? Something we miss?
On 15 August 2016, the Malaysian Minister of Finance (MOF) revoked the Malaysian Code on Take-Overs and Mergers 2010 (Old Code). In its place is the Malaysian Code on Take-Overs and Mergers 2016 (New Code). Contemporaneous with this replacement, the Securities Commission Malaysia (SC) has also issued the Rules on Take-Overs, Mergers and Compulsory Acquisition 2016 (Rules).
The changes introduced by the Rules reflect the SC’s desire to move towards a proportionate regulatory regime. On the one hand, changes have been made to facilitate take-overs, such as the abolishment of the requirement for an offeror and persons acting in concert (PACs) to hold more than 50% of the voting shares of the offeree before undertaking a take-over by way of a scheme. However, the changes also provide a higher degree of protection to offeree shareholders in the form of enhanced disclosure requirements and the enhanced role and obligation of independent advisers.
The Rules also provide guidance in areas that were previously subject to scrutiny and led to confusion amongst the offeror, offeree and their respective advisers. These changes are welcomed and has brought Malaysia’s take-over regime closer to other mature jurisdictions such as the United Kingdom and Hong Kong.
they know many people still stuck so they purposely no wanna MGO yet, even if they seek to takeover this company and looking at the coward dato, I think it will offer to buyout all the remaining shares at 50cts only.
must tell calvin to be like kyy ask bank for margin so buyout all at 60cts since it's so undervalue.only at 60cts the whole company is worth less than 510mil still make quite a tidy sum considering the assets is worth 900mil and borrowing is only 2 mil
Duta Yap is mighty sleek. He wants to collect all Dutaland shares very very quietly while it is still dirt cheap.
This modus operandi is directly opposite of KKY who wants every body to know about highly overvalued Jaks to sell to sorchai later after goreng up to the most dangerous level for dumping.
So just buy every month a little Dutaland and hold tightly!
buta yap not sleek but instead is a crooked man dare not let small retails to make a bit also. if he wanna buyout the company I think he will buy at max is 50cts
MAXIMISE YOUR PATIENT , SOONEST achieve 0.80 , they way DUTA YAP dance is TANGO dance , is a ART WAR , action in any moment , straight away to object foreseen .
So sad to hear, but u are not alone many investors kena kaw2 . For Dutaland u no need to worry, very solid ctr. Duta Yap need to push in order to further collect. I think he want to take private. Deem interest more than 50%. Accomplice holding unknown.
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....
Apollo Ang
3,181 posts
Posted by Apollo Ang > 2017-04-07 10:46 | Report Abuse
no money to eat rice people, 48.5cts also sell