@speakup bro...when market sentiment changed...kita pun tukar strategy sikit...we are all here to make money anyway :))
Media is always my favourite...but when i see better opportunity in other counter..i have to off-load other counter since i hv very limited fund and don't play margin/contra..
anyway managed to take some profit during intra-day trade last week..before off-loading most..
actually you can see even TP has been revised by IB..but the price didnt go much lower than 1.12. Something would be happen when the election is nearer.
Media Prima Television Networks (MPTN), the television unit of listed Media Prima Bhd, is venturing into Singapore through a strategic partnership with Singapore Telecommunications Ltd (Singtel) to bring its over-the-top (OTT) streaming service called tonton there. This is tonton’s first foreign venture.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF 100% EQUITY IN REV ASIA HOLDINGS SDN. BHD. (THE "TARGET COMPANY") BY MEDIA PRIMA DIGITAL SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MPB (THE "PURCHASER") (THE "PROPOSED ACQUISITION") FROM REV ASIA BERHAD AND YOUTH ASIA SDN. BHD. (THE "SELLERS")
MEDIA PRIMA BERHAD
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description PROPOSED ACQUISITION OF 100% EQUITY IN REV ASIA HOLDINGS SDN. BHD. (THE "TARGET COMPANY") BY MEDIA PRIMA DIGITAL SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MPB (THE "PURCHASER") (THE "PROPOSED ACQUISITION") FROM REV ASIA BERHAD AND YOUTH ASIA SDN. BHD. (THE "SELLERS")
The Board of Directors of MPB ("Board") is pleased to announce that MPB, via the Purchaser, had on 8 May 2017 entered into a conditional sale and purchase agreement with the Sellers ("SPA") to acquire 15,828,831 ordinary shares in the Target Company, representing 100% of the issued and paid up capital of the Target Company, for a total purchase consideration of RM105,000,000 ("Consideration").
ya me too..good news is morgan Stanley and MUFG keep buying Media's shares and no wonder REV shares has been increased 100% for past few weeks..whatever it is I still gonna hold for the dividend payout soon..
The company said this acquisition will make them the largest digital media in msia..so i think this is a gud news..even cimb has increased TP to 1.18 previously only 1.16 n 97sen..if its drop more an opportunity to top up as its proven this is cash rich company with generous dividend..my 2cents..
Cash position. As at end of 2016, MPB has a net cash of RM75m. Coupled with RM200m medium term notes (MTN) which has yet been issued, MPB will have a total cash reserve of RM275m. This would enable the group to support the acquisition through internally generated funds. However, we view that the acquisition would limits future M&A activities should MPB want to maintain a healthy cash reserve and dividend payment.
Pricey acquisition. We deemed the acquisition price to be on the high side. Premised on Rev Asia’ FY16 earnings of RM4.2m, the acquisition translates into a PER of 25x. This is above MPB’s 5-year historical average PER of 14.5x. Nonetheless, the purchase consideration came in at the lower end of the independent valuer’s estimation of between RM100m to RM118m.
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linges
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Posted by linges > 2017-04-20 12:23 | Report Abuse
KenangA Reserach downgraded Media to Underperform with TP 94c..
Do expect profit taking and downturn..