Media Chinese Intl, RSawit see off-market trades TheStar Fri, Feb 14, 2020 02:56pm - 2 hours ago
Media Chinese International Ltd (MCIL) and Rimbunan Sawit Bhd (Rsawit) saw their shares transacted in off-market deals on Friday, which were significantly below their closing prices on Thursday.
KUALA LUMPUR: MEDIA CHINESE INTERNATIONAL LTD (MCIL) and RIMBUNAN SAWIT BHD (Rsawit) saw their shares transacted in off-market deals on Friday, which were significantly below their closing prices on Thursday.
Stock market data showed that 39.4 million shares of MCIL were transacted at eight sen each, or 13 sen below the closing price of 21 sen on Thursday.
The shares accounted for 2.3% of the issued shares of 1.687 billion units.
As for plantation company RSawit, there were 25.95 million shares traded off market at 16 sen each or 14.5 sen below Thursday's close of 30.5 sen.
The 25.95 million shares accounted for 1.83% of its issued shares of 1.418 billion units.
MCIL and RSawit have some common shareholders. MCIL is a publisher of Chinese-language newspapers in Hong Kong, Malaysia, the US and also Canada and China.
In MCIL, Progresif Growth Sdn Bhd owns 17.57% and CONCH Co. Ltd 15.05% while Tan Sri Tiong Hiew King has a direct stake of 5.12% and Teck Sing Lik Enterprise 3.87%.
He is the chairman of MCIL and also the founder and chairman of the Rimbunan Hijau Group, a timber company which owns 0.92% of MCIL.
Tiong also hold a 0.17% direct stake in RSawit. The major shareholders are Tiong Toh Siong Holdings Sdn Bhd with a a 18.16%, Multi Greenview Sdn Bhd 9.87% and Rimbunan Hijau Southeast Asia 8.05% while Teck Sing Lik Enterprise 6.72%.
Tiong is the executive chairman of Rimbunan Hijau Group.
Q3's CPO was averaging around RM2.3K per metric ton while Q4's CPO ws RM2.9K per metric ton. So tell me, what's the odd of this coming QR turning out worse than the last one?
from its Q3 commentary: Commentary on Prospects CPO price is expected to strengthen towards the year end in view of the lower than expected FFB production coupled with expectation of higher demand arising from the implementation of higher biodiesel usage next year
The Group recorded gross profit of RM8.2 million for the current quarter as compared to previous year’s gross loss of RM2.0 million as plantation costs have been sequestered and further rationalized. As such, year-to-date gross loss reduced by 78.2% as compared to corresponding period in 2018.
somehow they always sell CPO cheaper vs other companies. somehow they have doubled admin expenses when everyone else stayed the same. somehow they have 2x more yield reduction vs other companies manage to do all this despite having trees entering prime...
@Quickgain, i totally agree. Am completely confused by the market's interest in this lossmaking plantation counter (if this counter couldn't even report an operating profit when CPO prices were in the high 2000s, it will surely be worse in 1Q2020)
Today got more than 20 alert notices of Bursa announcement, regarding one of holder (Mr Tiong) in Rsawit disposed his shares. Disposal made between Oct-Dec2019. Why the announcementsss made on 23rd April 2020?
Get earn 1st wave, still got second wave missed , do you hope for third? Change target 1st....short term this counter will not so active, won't breakout your dream for short term investor.
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lee_m2020
4,833 posts
Posted by lee_m2020 > 2020-02-05 11:18 | Report Abuse
0.315 pls!!!!