Posted by Lele > 2020-02-15 12:44 | Report Abuse

“Tiah is looking to kill two birds with one stone. Both offer prices for TA Enterprise and TA Global are extremely undervalued. Shareholders will likely reject both offers, ” said one analyst.

https://www.klsescreener.com/v2/news/view/637198

Posted by Lele > 2020-02-15 13:26 | Report Abuse

This exercise may pave the way for Tiah to make another offer to mop up more shares in TA Enterprise.

Posted by pogbaggmu > 2020-02-15 15:30 | Report Abuse

Lele,

I read that but I can't understand. Offer for tagb is extremely undervalued....why would tae shareholders reject? Also if the MGO for tae comes through, he won't be able to mop up more because no one will sell to him. You can refer to previous offer he made. Besides, tiah has no intention to delist tae. He wants it listed.

Hopetobecorrect,

U willing to pump in money meh? I wouldn't, especially when the true value is not reflected in the share price. I prefer someone else pump in and I enjoy some benefit.

Posted by Lele > 2020-02-15 15:33 | Report Abuse

如果沒有錯 ：-

TAE提出全收購TAGB 2,119,389,362 ( 39.83% )方案如下 ：-

1) 現錢方式，RM0.28
2) 交換方式，1 ： 0.4211

所以TAE將要推出892,474,860新股.
Tony和家庭成員持有81,6267,920( 15.34% )TAGB的股票, 他們選擇交換方式，所以他們將佔有343,730,421的TAE新股。

如果剩餘的TAGB 小股東選擇拿現錢，只能賣給Tony，因為 TAE 這次提案有註明Tony 將可以收購550,539,554( @0.665 )

892,474,860 ( TAE 將推出的新股 ) - 343,730,421 ( Tony 家族交換的TAE的新股 )
= 548,744,439 ( 其它TAGB的小股東將可以在TAE新股的總數 )

所以就看TAGB的小股東如何選擇了，有三個方式

1) 拿現錢 RM0.28
2) 交換 1 ： 0.4211
3) 完全不通過，硬到尾。 哈哈！和他玩過。

Posted by pogbaggmu > 2020-02-15 17:33 | Report Abuse

here is the maths, simple and easy to understand:

Total number of TAE shares outstanding now = 1,711,894,993

TAE holdings in TAGB now = 60.17%

TAGB RNAV after revaluing top 7 properties = RM5.858 billion

Current RNAV of TAGB owned by TAE shareholders now (per share)
=(60.17% X RM5.858 billion) / 1,711,894,993
= RM2.06 per share

TAE shares issued to swap Tony Tiah's personal TAGB holdings
= 343,730,421

If:

(a) All remaining offer shares choose cash option,

Total number of additional shares issued to Tony Tiah = 548,744,439

Enlarged TAE shares
= 1,711,894,993 + 343,730,421 + 548,744,439
= 2,604,369,853

RNAV of TAGB owned by TAE shareholders after takeover (per share)
= RM5.858 billion / 2,604,369,853
= RM2.25 per share


If:

(b) All remaining offer shares choose share swap option,

Total number of additional shares issued = 548,744,439

Enlarged TAE shares
= 1,711,894,993 + 343,730,421 + 548,744,439
= 2,604,369,853

RNAV of TAGB owned by TAE shareholders after takeover (per share)
= RM5.858 billion / 2,604,369,853
= RM2.25 per share


Conclusion:

1) As a TAE shareholder now, the value of TAGB RNAV that I own now is RM2.06 per share.

2) The value of TAGB RNAV that I own after the takeover is RM2.25 per share.

3) TAGB RNAV of RM5.858 billion is obtained only after revaluing top 7 properties. TAGB has more than 20 properties in its portfolio and we will find out the actual value of all their properties when BDO comes up with independent advice.

As TAE shareholder, you can be sure I'll be voting for the takeover.

Posted by Lele > 2020-02-15 21:42 | Report Abuse

大股東持太多股票不是一件好事。如果他心術不正小股東看到拿不到。你們就自求多福吧！

Posted by pogbaggmu > 2020-02-15 22:15 | Report Abuse

Lele, what about all the big companies like public bank, yinson, hartalega, sime? Even big foreign company like Amazon, Facebook, Tesla, Berkshire? All of them have shareholder holding big controlling stake also....

Posted by Lele > 2020-02-16 05:46 | Report Abuse

pogbaggmu, [ 如果他心術不正 ]。嗨！古德曰 ：“ 心是萬法的主導。” 心善一切善，心惡一切惡。

Posted by Lele > 2020-02-16 08:02 | Report Abuse

pogbaggmu, 2018年 TAE 估價了有RM2.59 - RM2.60。請問要2年了，現在股價多少？ 為什麼還是沒有投資基金要入場？現在如同 ：“ 空中花， 水中月。” 我之前都說了，投資上市公司大老闆的品性很重要。自求多福吧！

Posted by hopetobecorrect > 2020-02-16 09:44 | Report Abuse

lele, you are 100% right., time had proven his morality . big eat small

Posted by hopetobecorrect > 2020-02-16 09:46 | Report Abuse

pogbaggmu, you can continue support tony

Posted by Sslee > 2020-02-17 09:00 | Report Abuse

Haha,
I just hope to sell my 60 cents TAE to Datuk Tiah at 66.5 cents.

Posted by Lele > 2020-02-17 09:06 | Report Abuse

根據目前的情況來看 TAE 肯定會通過這個提案，因為Tony持有太多TAE的股權了。

所以TAGB只有3個選擇 ：-

1) 現錢方式RM0.28
2) 交換方式 1 ： 0.4211
3) 24% 的小股東完全不通過和他玩到底。

現在這個TAE的提案，他可以增加2%的股權。也就是說他可以從現在的42%增加到44%，所以如果他在TAGB的持股轉換成TAE的股票。那麼TAE的小股東就只能聽他的話了，[ 他說1你不能說2，他說Yes你不能說No. ]

如果他真的為公司好，就好好[ 往合併 ]的方案去想，也就是兩家公司的價值去估價，過後好好去合併，應該不是一件難事。全部股東都[ 皆大歡喜 ]。這個就是[ 神愛世人 ]了。如果他[ 心術不正 ]，TAE & TAGB的小股東將會給他[ 完死 ]

如果TAE收購到90%以上TAGB的股權，也就是說剩餘的不到10%只能拿現錢( RM0.28 ), 如果收購不到90%那麼好戲在後面。他可能會提出更高的價錢來收購，最重要那剩餘的10%能和他硬多久？？？？目前的24%多的 TAGB 小股東如何選擇將左右未來的發展。

我一路來都不看好TAE &TAGB,因為這兩家公司都沒有第二大股東持有10%以上的股權( 不是家族成員 )。經過這幾年的風風雨雨相信未來的TAE & TAGB將不會被投資基金看上。所以說大老闆的[ 品性 ]很重要，因為將影響未來發展前景。

願上帝保佑你們，Amin.

Posted by Lele > 2020-02-17 11:26 | Report Abuse

TAGB為了解決大眾持股不到25%的問題( 要在28/6/2020解決 )，這個問題已經有兩年多了。

以下幾個方案[ 可能 ]公司有嘗試過 ：-

1) [ 可能 ]公司有找第三方買入TAGB的股票，可能價錢談不成，也有可能沒有人要，因為馬幣的疲弱很多外國基金都不是很想進入投資。

2) TAE 和 Tony也不要壓低賣出，這樣對公司也不是很好。

3) 所以選擇了現在這條道路。

TAGB 已經上市有10年了，如何釋放公司的資產價值是一門大課題，要有很高的智慧和善緣才能成就。順祝各位平安喜樂，一切皆大歡喜。

Posted by Syndicates > 2020-02-18 11:03 | Report Abuse

麻烦读熟它
https://www.sc.com.my/api/documentms/download.ashx?id=43f369e8-5e2e-4d4d-9420-a9d5cfdfea8e

你有读top 30 list 吗？
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=194076&name=EA_DS_ATTACHMENTS

tony不能在TAE EGM vote你知道吗？

Posted by Lele > 2020-02-18 16:29 | Report Abuse

Is the dilution worth it?

https://www.klsescreener.com/v2/news/view/637590

Posted by kilrathi > 2020-02-19 12:37 | Report Abuse

probably takeover of TA will be at 64cents..

Posted by TheContrarian > 2020-02-19 23:27 | Report Abuse

Already announced takeover will be at 66.5 sen lah.

Posted by pogbaggmu > 2020-02-20 17:22 | Report Abuse

Lele, lol why sound so desperate? U bought tagb at high price then now caught by low offer is it? U keep pushing dilution, tiah no good....correct, tiah can do much more but I also know he gives me 4sen dividend a year and with tagb consolidated, I can get 5-6sen per year which is almost 10% dividend yield for me.

Posted by Lele > 2020-02-20 20:42 | Report Abuse

pogbaggmu，幾年前我都已經說很多了。前兩年有4sen 是什麼原因你應該知道。今年哈哈！這個月尾就知道了， Q4 2019 report 這個月尾公佈。今年的第一季度也肯定完了。Tony 是我家鄉人，我們比你更加了解他。之前我都說了不能長久投資。現在很多新聞都有報道[ 利與弊 ]。

Posted by ykloh > 2020-02-20 23:16 | Report Abuse

so far debts of tagb have not feathered in the calculations.

Posted by Lele > 2020-02-21 07:39 | Report Abuse

Pogbaggmu, 所以我都說了 ：“ TAGB 已經上市有10年了，如何釋放公司的資產價值是一門大課題，[ 要有很高的智慧 ]和[ 善緣才能成就。] 順祝各位平安喜樂，一切皆大歡喜。”

先等第三方的報告再看看吧！希望新冠肺炎早日消除。

Posted by hopetobecorrect > 2020-02-21 11:44 | Report Abuse

i don't see why minority shareholders will vote to pass the resolution that will pave the way for tony to privatize tagb and finally tae. anyone had other idea?

Posted by hopetobecorrect > 2020-02-21 11:45 | Report Abuse

they already voted against the privatization of tae in 2018

Posted by pogbaggmu > 2020-02-21 12:39 | Report Abuse

Hopetobecorrect, there was no vote and egm in 2018 lah.

Posted by hopetobecorrect > 2020-02-21 12:40 | Report Abuse

can tony vote in the coming EGM?

Posted by pogbaggmu > 2020-02-21 13:23 | Report Abuse

No, Tony cannot. As mentioned earlier, as TAE shareholder, I'll vote for consolidation of TAGB but I will not accept MGO at 66.5sen. simple maths above show why I'll vote for consolidation but not accept MGO.

Posted by Lele > 2020-02-21 13:31 | Report Abuse

俗話說 ：“ 有價無市 ”。

Posted by singh1 > 2020-02-21 23:57 | Report Abuse

Our comrades are fighting back !!!! Let us all come together in solidarity.


mbge7clt MSWG is organizing an Investors’ Forum to discuss the issue raised. The details of the forum are as follow:-



Topic: TAG’s “Privatisation”: Implication to Minority Shareholders

Date: 27 February 2020

Time: 9.30 am to 11.30am

Venue: MSWG Training Centre

11th Floor, Bangunan KWSP,

No. 3, Changkat Raja Chulan,

Off Jalan Raja Chulan

50200 Kuala Lumpur



If you are interested to attend , please register with Ms. Sharon Goh/Ms. Mages at 03-2070 9090 or email to mageswary@mswg.org.my or sharongoh@mswg.org.my by 25 February 2020.
21/02/2020 4:20 PM

Posted by villa1668 > 2020-02-22 04:11 | Report Abuse

Lesson learnt! Never ever look at NTA to buy stock. Must invest a company that share price can go up, not just based on what undervalue, low PE or high dividend yield. Need to understand that dividend yield is not sustainable when future bleak.

Posted by Lele > 2020-02-22 09:56 | Report Abuse

如果一個人聯自己的股東都想吃，那麼那個人肯定是 。。。。。。古德曰 ：“ 正人學邪法，邪法也是正，邪人學正法，正法也是邪。” 萬法唯心造。TAE & TAGB 應該合併，只是如何能使所有股東皆大歡喜，就要有[ 善因 ]，[ 善緣 ]，才能有[ 善果 ]。因緣果報是永遠不變的真理。也就是他造善因，想得善果，我們把善因再加上善緣，善的果報一定現前。

以下這位大老闆是我很敬佩和很恭敬的人。他可以向他多多學習。

https://m.youtube.com/watch?v=PlTiHXgaFqI

Posted by hopetobecorrect > 2020-02-22 11:03 | Report Abuse

correct me if i am wrong........

after reading the notice that was received today, the only way to stop the whole exercise is for all TAE non interested shareholders to vote against the issuance of new TAE shares to Tony at the coming EGM.

Posted by pogbaggmu > 2020-02-22 13:50 | Report Abuse

Yes only we non interested shareholders can vote. Oh u received the notice....cheh that means you, and I believe all the others above, are all tagb shareholders. This is tae thread. For tae shareholders, we love the deal.

Posted by hopetobecorrect > 2020-02-22 14:26 | Report Abuse

pogbaggmu, i am also TAE shareholder. don't understand your logic. if you vote for the resolution than indirectly you will allow Tony to MGO TAE at 0.665 for your shares and the price will not go higher than 0.665.

Posted by pogbaggmu > 2020-02-22 19:30 | Report Abuse

Vote for resolution means share price will go to 0.665 and u can dispose at 0.665. tae will not be privatised because firstly 0.665 is not fair and tiah also wants it to remain listed. After offer period close, tae share price will go back towards 0.55 and if u believe in tae, can accumulate back at lower price.

Posted by pogbaggmu > 2020-02-22 19:35 | Report Abuse

Realistically, it will never go above 66.5sen with or without this exercise because property market is horrible.

Posted by singh1 > 2020-02-26 09:06 | Report Abuse

Here is the e-mail. Please voice out your dissatisfaction as best as you can. These are my own views and opinion. Speak for yourselves as according to your own situation.

Hi Mageswary, and Sharon Goh

With regards to recent developments at TAGB, I would like to strongly voice my dissatisfaction with offer made by TA Enterprise and Majority share holder Tony Tiah's to purchase TAGB shares from minority shareholders at a mediocre 28 sens cash or exchange of 0.42 TA shares for every TAGB share as exchange offer.

My first investment into TAGB was in 2010 at 42 sens. After substantially increasing it's properties holdings and overall valuations to net asset value of $1.10 to $1.20/share, the offer of 28 sens is akin to receiving a "slap to the face" for being such a loyal investor that had to bear receiving mediocre dividends and a sharp drop in share price over the span of 10 years.

We the minority have suffered and continue to suffer in an environment of self enrichment by Tony and family. I urge you or rather beg you and all officials at your organization to please stop this man and his gargantuan greed. Save us please.

May the lord provide the strength to you and colleagues to overcome this almost impossible challenge to overcome this Goliath like character.

As I am abroad, I apologize for not being personally there to meet your team. Thank you for fighting for us helpless little souls.
26/02/2020 9:02 AM

Posted by hopetobecorrect > 2020-02-27 21:44 | Report Abuse

Day light robbery allows under the law.

Posted by veritas > 2020-03-04 12:34 | Report Abuse

i agree with pogbaggmu and will vote for the resolutions at the TAE EGM.
Thank you for laying out the maths behind your thinking.

Posted by Lele > 2020-03-05 15:28 | Report Abuse

This would bring the new enlarged share base of TAE to 2.6 billion shares, 1.5 times more than the current share base of 1.71 billion.

In this case, Tiah’s stake in TAE would increase to 45.99% after the proposed privatisation and thereafter to 57.41% after the issuance of new shares for the cash injection. It would also trigger the creeping rule and result in an obligation to call for a mandatory general offer.

However, should all of TAG shareholders opt for the share swap, Tiah’s stake in TAE after the proposed privatisation will be diluted to 36.27% from 41.92% currently.

https://www.klsescreener.com/v2/news/view/646830

Posted by pogbaggmu > 2020-03-06 17:27 | Report Abuse

Veritas, laid out the maths because I thought people posting in TAE thread couldn't see the attractiveness of the offer. But found out later that all these people are TAGB shareholders who bought at ridiculously high prices and are caught so badly now.

Posted by pogbaggmu > 2020-03-06 17:33 | Report Abuse

TAGB was spun off from TAE in 2009 with the hope that the value of TAGB's properties would be appreciated better and valued more properly by the market. But since this didn't happen, it's time to merge back since it cost a lot of money to maintain listing status of TAGB.

Posted by pogbaggmu > 2020-03-06 17:37 | Report Abuse

Some people try to be clever and say rights issue should be done so that no dilution. But they never think that in this kind of market conditions, the rights issue will be undersubscribed and tiah will subscribe them all. Better don't need to waste shareholder money on the rights issue and tiah just pump in money from the start.

Posted by hopetobecorrect > 2020-03-07 12:09 | Report Abuse

the smartest 1) tony 2)lele 3) pogbaggmu
the stupiest 1) ta and tagb minority shareholders for the past 10 years

Posted by singh1 > 2020-03-07 22:59 | Report Abuse

When the preachers are fake, the number of people attending church goes on the decline and the HOUSE OF GOD goes up for sale!!!! Like this one for just $1.

https://globalnews.ca/news/3520599/ontario-church-for-sale/

They can fool the older less informed generation. Younger people in the information age are walking away from people that abuse this position of trust. It is happening to all religions.

Posted by pogbaggmu > 2020-03-09 10:38 | Report Abuse

Hopetobecorrect, singh1, my humble advice is to accumulate tagb at 25sen and then sell it to tiah for 28sen for a nice 12% gain. It is better than realising a full loss from your current holdings. After that, it is up to u if u want to re-enter TA but my suggestion is no unless TA MGO is unconditional.

Posted by pogbaggmu > 2020-03-09 10:40 | Report Abuse

If you continue holding tagb, I can assure you only your grandkids might have a chance of seeing any gains....not even your kids.

Posted by veritas > 2020-03-10 07:11 | Report Abuse

#pogbaggmu very good advice indeed !

Posted by firehawk > 2020-03-10 15:31 | Report Abuse

TA sold @.54 .... if the proposal approved, (665-540)/540 = 23% !!!!!

Wow, so good?

Posted by pogbaggmu > 2020-03-11 17:20 | Report Abuse

Firehawk, lol sell at 54 for what? Wait one more day get another 2.8% return lol