Posted by hooi > 2012-11-01 09:15 | Report Abuse

Bought Icap at 2.31, just received email from capital dynamic

Posted by kcchongnz > 2012-11-01 10:28 | Report Abuse

Can someone kindly inform what this e-mail hooi received is about?

Posted by cwkhor > 2012-11-02 16:23 | Report Abuse

I bought icap too, but didn't receive email.

Posted by hooi > 2012-11-02 16:52 | Report Abuse

Maybe for www.icapital.biz subcriber only

Posted by kcchongnz > 2012-11-02 16:53 | Report Abuse

icap discount is closing. What the hell is this "email"? Anyone?

Posted by chelsea168 > 2012-11-02 16:56 | Report Abuse

I got that email too...

Posted by justin220 > 2012-11-02 16:58 | Report Abuse

Icap is emailing the share owners to attend the 8th AGM this 11/11/12.

Posted by kcchongnz > 2012-11-02 17:07 | Report Abuse

ah lah, just to attend AGM only, not special meeting to "san band", or the oversea shareholders call for the special meeting. Never mind lah. Somehow the discount of icap share price is closing towards its NAV. It is a good sign but still far away lei!

Posted by jpleow > 2012-11-02 18:21 | Report Abuse

LOL...

Posted by jpleow > 2012-11-02 18:47 | Report Abuse

kcchongnz, if there is anything important, they would announce it in Bursa Announcement. They would not send email to 'selected shareholders' only. :)

Posted by kcchongnz > 2012-11-02 18:53 | Report Abuse

Yeah lah, stupid me. Made me so excited. Thinking of flying back from NZ to attend and vote for the disbanding, or open ending the fund or other shareholder profit maximizing efforts. Thanks anyway jpleow.

Posted by hw0706 > 2012-11-02 19:01 | Report Abuse

the e-mail which i receive is just ask the subscriber to buy the icap share in order to have voting rights.

Posted by jpleow > 2012-11-03 16:19 | Report Abuse

In 2/11/12 announcement, ‘Annual Report 2012 – Addendum’ (http://www.bursamalaysia.com/market/listed-companies/company-announcements/1108845), ICap has received letters nominating Mr Andrew Pegge, Mr Lo Kok Kee & Mr Low Nyap Heng for election as Directors in AGM.

From the details, Andrew Pegge is a director of Laxey Partners Limited, one of the foreign fund that had bought 9.645M or 6.89% of ICap shares. The other 2 persons must be acting in concert with him since they are all nominated by the same person. The latest AGM resolutions have 9 persons contesting for maximum 7 director positions.

This is a first step taken by the foreign fund. Their intension is not clear. They may simply want to have more influence in the Board of Directors, or perhaps to push through some measures to reduce the discount. I believe their intension will be known after they get appointed as directors.

Now I understand why the shares price went up sharply on Friday, in a boardroom tussle like this, either party may buy more shares to increase their voting power! No wonder Capital Dynamic sending out emails asking subscribers to buy in order to have voting rights.

For those who receive the emails: Is Capital Dynamic asking you to vote for their choice of directors? I think better vote for the foreign fund’s choice since they may implement some measures to reduce the discount. (see my post on 29/8/12 12:53pm in this thread on ‘Managing discounts’).

kcchongnz, look like your wish may come true after all!

Posted by kcchongnz > 2012-11-03 17:13 | Report Abuse

Excellent jpleow! icap's share price rises from RM2.11 to RM2.38 and discount has narrowed from 27% 5 months to less than 20% now, the lowest since one and a half year ago. This must definitely because of the active participation of those two foreign funds. As the discount is only 20% now, is it worthwhile to hold or even buy more icap shares? Of course! Burton Malkiel in its latest edition of "A Random Walk Down Wall Street" stated that he would open a long-term investment account for his son when a closed end fund (CEF) provides a discount of 10% or more. I have personally looked at the closed-end funds of US and the Western world and notice that the average discount of CEF is only 6%. Tan Teng Boo has proven that he is successful as a value investor, which nicely fits into my investment philosophy. I hope the first thing the new board do is to provide a good dividend. Then other things like what jpleow mentioned in his post dated 29/8/12, an enlightening post for those searching for value in icap. In the US, those active funds with substantial stake in the CEF do exert their influence to unlock shareholder value. In contrast, those local fellows sitting on the board won't do a thing. TTB because of his own interest and the agency problem, he won't do a thing too.

Posted by hooi > 2012-11-03 18:05 | Report Abuse

For short-term investor/speculator, they will support foreign fund; for long-term investor/shareowner, they will support Capital Dynamics. I will support Tan Teng Boo even i am just a small shareholder.

Posted by kcchongnz > 2012-11-03 18:27 | Report Abuse

hooi, what????

Posted by hooi > 2012-11-03 18:47 | Report Abuse

Icap received a threat from foreign fund, i will support another 2 directors nominated by icap.

Posted by tonylim > 2012-11-03 19:30 | Report Abuse

Guys, I dont follow icap.
But 2 names mentioned in this page are Mr Lo Kok Kee & Mr Low Nyap Heng.
Lo, inari insas fame.
Low investors and nominees, no much info about him

Both are "old birds" quite elderly now

Posted by nhy6 > 2012-11-03 19:34 | Report Abuse

even u go with laxey partners how exactly r u going to reinvest the funds?? genneva??

Posted by hooi > 2012-11-03 19:39 | Report Abuse

They are foreign fund supporter, i will support Dato' Tan Ang Meng & Dr. Yin Thing Phee @ Ying Thing Phi

Posted by nhy6 > 2012-11-03 19:58 | Report Abuse

i'd rather go with da existing directors.. they hv done a great job n share price has gone up steadily over the years

Posted by kcchongnz > 2012-11-04 04:50 | Report Abuse

oh jpleow, you short-term punter, you have lost your hope of icap discount closing to its NAV of 2.96! So you can't use your money to buy Genneva gold already. So many people here want to maintain the status quo of the icap board, ie existing dato2 and Dr2 directors can continue receive fees just by following what TTB says, TTB continues reap good management fees with high asset under management without having to do anything already. Yeah loh, those foreign people searching for profits for their own investors (and us as investors too) want to threaten and rip us kau kau. Well I am so bloody happy that icap's discount will widen again. So I can keep them for my great grand children already. However you may still be able to buy at 2.10, hold at 2.11 and sell at 2.12 if you want to make huge amount of profit. Oh shit, I am in the same boat too.

Posted by jpleow > 2012-11-04 09:50 | Report Abuse

Hahaha, as I suspected, there are a lot of loyal supporters of Capital Dynamic. Maybe they are counting on this to maintain their control of the Board. However, be warned, the 2 foreign funds has total of 18.863 Million (13.5%) shares, if they are not happy, they may sell their shares & that would be a disaster!

Posted by hooi > 2012-11-04 14:41 | Report Abuse

If they sell their shares, we can buy more. Anyway, don't kill the goose that laid the golden eggs.

Posted by kcchongnz > 2012-11-04 15:25 | Report Abuse

The bloody eggs are stuck in the bloody backside and cannot come up. The goose farmer is reluctant to do anything because if the eggs come up, other family members will share the eggs with him and he doesn't want that to happen. If nobody in the family do anything, nobody will have eggs to eat. The eggs have no value if they don't get out from the bloody backside.

Posted by LeeJun99 > 2012-11-04 17:49 | Report Abuse

I heard that wednesday have meeting with lo kok kee for icapital shareholders. Any shareholders here that get invited? Is real or fake meeting?

Posted by LeeJun99 > 2012-11-04 17:55 | Report Abuse

There was meeting at icapital hq yesterday at 12, then 4 got one more meeting at midvalley office. Now wed have another meeting and saturday is final. pls reply if anyone here got call about the wed meeting.

Posted by nhy6 > 2012-11-04 18:00 | Report Abuse

u wanna eat eggs now? there'll be no mother goose, no eggs and no baby geese. and these are not "ham ngap tan".

Posted by nhy6 > 2012-11-04 18:13 | Report Abuse

my fren told me he went to da 12pm meeting. but 4pm meeting is a fake one. must be lo kok kee using underhand tactics to confuse shareholders from going to da real meeting.

yeah i'm interested in wednesday meeting. wanna hear what plans he has for the fund ?

Posted by LeeJun99 > 2012-11-04 19:53 | Report Abuse

my friend told me that wednesday meeting is set by icap staff and lo kok kee, but how come no email or letter, only got phone call? the 4pm is not fake, my friend got attend.

Posted by nhy6 > 2012-11-04 20:30 | Report Abuse

what did ur fren say ? becoz there was no such meeting.

Posted by jpleow > 2012-11-04 20:52 | Report Abuse

Hahaha, if the foreign funds sell, we still got hooi to use his simulated unlimited capital to buy all of them. :)

Posted by LeeJun99 > 2012-11-04 23:51 | Report Abuse

he said meeting in the office building with new director or something, quite boring, sat is definately not fake. why you think is fake? the wednesday one is different story.

Posted by LeeJun99 > 2012-11-05 00:03 | Report Abuse

anyway, I cannot go wed meeting. If anyone here got called to go and got attend, then just post here about what happen.

Posted by nhy6 > 2012-11-05 00:08 | Report Abuse

y is da wednesday one different story ? different from wat ?

Posted by sixteenblue > 2012-11-05 01:01 | Report Abuse

"Lesson on iCap: How do you attack a Closed-End Fund"
http://www.intellecpoint.com/2012/11/lessons-on-icap-how-do-you-attack.html

Posted by hooi > 2012-11-05 10:13 | Report Abuse

Buy < 2.52

Posted by shirley1 > 2012-11-05 10:18 | Report Abuse

icap wake up already !!

Posted by proinvestor23 > 2012-11-05 10:18 | Report Abuse

Bought a good chunk :) Now I want to go to the wednesday meeting. any updates on that?

Posted by hooi > 2012-11-05 10:25 | Report Abuse

Bought Icap at 2.51

Posted by hooi > 2012-11-05 10:26 | Report Abuse

Bought Icap at 2.50

Posted by hooi > 2012-11-05 10:44 | Report Abuse

Bought Icap at 2.49

Posted by hooi > 2012-11-05 11:50 | Report Abuse

Bought Icap at 2.48

Posted by kuff_ng > 2012-11-05 11:53 | Report Abuse

hooi: what's ur tp for icap ?

Posted by hooi > 2012-11-05 11:59 | Report Abuse

Sell > 2.62

Posted by hooi > 2012-11-05 12:29 | Report Abuse

Bought Icap at 2.47

Posted by kuff_ng > 2012-11-05 13:02 | Report Abuse

thx

Posted by hooi > 2012-11-05 14:48 | Report Abuse

Bought Icap at 2.46

Posted by hooi > 2012-11-05 14:52 | Report Abuse

Bought Icap at 2.45

Posted by Bryan Lee > 2012-11-05 19:07 | Report Abuse

Isn't >2.40 a bit overpriced?