AVALAND BERHAD

KLSE (MYR): AVALAND (5182)

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Last Price

0.31

Today's Change

+0.005 (1.64%)

Day's Change

0.30 - 0.31

Trading Volume

894,200


5 people like this.

3,159 comment(s). Last comment by Val-Elta 4 days ago

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 08:51 | Report Abuse

The cheapest blue chip stock controlled by the largest conglomerate in the Philippines plus with few local institutional funds as substantial shareholder. As solid as rock.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 08:57 | Report Abuse

Whatever price offered to them by Ayala, the same will be offered to all minority shareholders if jadi :)

In fact, a compulsory acquisition could also be triggered if Lembaga Tabung Haji (LTH), AIA Bhd and Kumpulan Wang Persaraan (Diperbadankan) were to sell their stakes in MCT to Ayala Land.

LTH, a government-linked pilgrim fund, is a substantial shareholder of MCT with a 10.09% stake, while life insurer AIA and pension fund KWAP have stakes of 3.44% and 2.51% respectively in the company.

If Ayala Land obtains the MCT shares held by the three institutional investors, its shareholding could rise to as high as 90.9%, hence, invoking the compulsory acquisition rule.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 10:18 | Report Abuse

Already more than 2 years tak boleh resolve shareholdings spread issue, expecting a general offer for the second time :)

Ayala Land owns 72.3% of MCT as general offer closes

ADAM AZIZ
February 20, 2018 | Updated 2 years ago
KUALA LUMPUR (Feb 20): Ayala Land Inc, the biggest property group in the Philippines, increased its indirect stake in MCT Bhd to 72.31% at the close of the mandatory general offer (MGO) for shares in the Malaysian firm yesterday.


In a stock exchange filing today, MCT said Regent Wise Investment Ltd, a unit of Ayala, has acquired an additional 22.12% stake, representing 295.28 million shares between Jan 27 and Feb 19, adding to the 50.19% stake in MCT held by Regent Wise as at Jan 26.

MCT’s other substantial shareholder includes Lembaga Tabung Haji with a 10% stake.


Ayala intends to keep the listing status of MCT. It was reported on Feb 7 that Ayala intends to explore options to increase MCT’s public shareholding spread to at least 25%, in accordance with Bursa Malaysia’s Main Market listing requirements, within three months from the closing date of the MGO. —

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 10:36 | Report Abuse

1.456 bil issued shares x 0.5% (not belonged to top 30 shareholders)~ 7.28mil shares in the open market only :)


ANALYSIS OF SHAREHOLDINGS
As at 15 April 2019
LIST OF THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS AS PER THE RECORD OF DEPOSITORS

NO. NAME OF SHAREHOLDER NO. OF SHARES HELD % OF ISSUED SHARE CAPITAL
1 Regent Wise Investments Limited 439,809,059 30.19
2 Regent Wise Investments Limited 295,277,782 20.27
3 CIMSEC Nominees (Asing) Sdn Bhd
- Pledged Securities Account for Regent Wise Investments Limited
230,115,574 15.79
4 Urusharta Jamaah Sdn Bhd 133,480,000 9.16
5 Goh Meng Keong 70,537,755 4.84
6 CIMSEC Nominees (Tempatan) Sdn Bhd
- CIMB Bank for Tan Sri Dato’ Sri Goh Ming Choon (PBCL-0G0264)
66,700,000 4.58
7 Citigroup Nominees (Tempatan) Sdn Bhd
- Exempt An for AIA Bhd.
48,967,100 3.36
8 Maybank Nominees (Tempatan) Sdn Bhd
- Pledged securities account for Dato’ Sri Tong Seech Wi
42,776,425 2.94
9 Kumpulan Wang Persaraan (Diperbadankan) 36,645,700 2.52
10 CIMSEC Nominees (Tempatan) Sdn Bhd
- CIMB for Ng Lee Ling (PB)
25,032,900 1.72
11 CIMSEC Nominees (Tempatan) Sdn Bhd
- CIMB for Tan Sri Dato’ Sri Goh Ming Choon (PB)
18,639,790 1.28
12 Linbaq Holding Sdn Bhd 11,666,667 0.80
13 CIMSEC Nominees (Tempatan) Sdn Bhd
- CIMB Bank for Rickoh Corporation Sdn Bhd (MY0507)
7,134,000 0.49
14 Alliancegroup Nominees (Tempatan) Sdn Bhd
- Pledged securities account for Koh Kin Lip (7003423)
7,125,000 0.49
15 CIMSEC Nominees (Tempatan) Sdn Bhd
- CIMB Bank for Lai Ming Chun @ Lai Poh Lin (PB)
3,701,000 0.25
16 Tan Siew Ching 3,069,400 0.21
17 WHC Capital Sdn. Bhd. 1,562,000 0.11
18 HSBC Nominees (Asing) Sdn Bhd
- JP Morgan Securities Plc
1,208,900 0.08
19 Citigroup Nominees (Tempatan) Sdn Bhd
- Exempt An for AIA Public Takaful Bhd.
1,174,700 0.08
20 Leong Yee Keong 1,000,000 0.07
21 Tan Pei Geok 1,000,000 0.07
22 Toh Chee Ming 390,000 0.03
23 Datuk Lim Kok Boon 372,625 0.03
24 Yeoh Soo Ann 349,550 0.02
25 Lim Chong Hoe 300,000 0.02
26 Elvin A/L Berty Luke Fernandez 250,000 0.02
27 TA Nominees (Tempatan) Sdn Bhd
- Pledged securities account for Foo Yin Kang
250,000 0.02
28 Dato’ Jessie Yow Yoon Khoon 243,000 0.02
29 Beh Eng Par 232,000 0.02
30 Lim Thuang Boo 230,200 0.02

1,449,241,127 shares 99.50%

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 10:46 | Report Abuse

The 0.5% issued shares not owned by the top 30 shareholders is worth about rm1.5 to rm2mil based on current beaten down market price :) ~7.28mil shares floating in the open market.

Posted by John Ha Tung Soon > 2020-03-05 11:23 | Report Abuse

so victor, you are no 31 shareholder?

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 11:40 | Report Abuse

Not important, everyone makes money and happy, more important :)


@
John Ha Tung Soon so victor, you are no 31 shareholder?
05/03/2020 11:23 AM

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 11:43 | Report Abuse

Kwap, AIA, etc , these institutional shareholders raise a bit of their stakes , mct will also fly very high :)

Posted by John Ha Tung Soon > 2020-03-05 11:44 | Report Abuse

Ha ha, tq for the analysis. Hope can fly as still trap at high side.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 14:41 | Report Abuse

If u want to do ringgit cost averaging, better to do it fast, it will sell like hot cake pretty soon, scarcity :)

@John Ha Tung Soon Ha ha, tq for the analysis. Hope can fly as still trap at high side.
05/03/2020 11:44 AM

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 14:46 | Report Abuse

Like mask and hand sanitizer, can be out of stock pretty fast :)

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 15:04 | Report Abuse

If kwap, AIA, TH Jual kepada Ayala, semua minoriti shareholders perlu serah Dan Jual syer kepada Ayala macam kerajaan belakang pintu :)

In fact, a compulsory acquisition could also be triggered if Lembaga Tabung Haji (LTH), AIA Bhd and Kumpulan Wang Persaraan (Diperbadankan) were to sell their stakes in MCT to Ayala Land.

LTH, a government-linked pilgrim fund, is a substantial shareholder of MCT with a 10.09% stake, while life insurer AIA and pension fund KWAP have stakes of 3.44% and 2.51% respectively in the company.

If Ayala Land obtains the MCT shares held by the three institutional investors, its shareholding could rise to as high as 90.9%, hence, invoking the compulsory acquisition rule.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-05 15:06 | Report Abuse

If Ayala sudah tackle AIA, kwap Dan TH= compulsory acquisition rule, minoriti shareholders terpaksa Jual semua syer kepada Ayala :)

lee_m2020

4,801 posts

Posted by lee_m2020 > 2020-03-05 19:33 | Report Abuse

if that force sales impose on minority holder, the sell price would be premium or discounted?

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 08:55 | Report Abuse

Probably follow the price offered to kwap, aia, TH, etc
@lee_m2020 if that force sales impose on minority holder, the sell price would be premium or discounted?
05/03/2020 7:33 PM

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 09:03 | Report Abuse

:)

Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

MCT BERHAD

Particulars of substantial Securities Holder

Name URUSHARTA JAMAAH SDN. BHD.
Address LEVEL 7, BANGUNAN SETIA 1,
15, LORONG DUNGUN,
BUKIT DAMANSARA,
KUALA LUMPUR
50490 Wilayah Persekutuan
Malaysia.
Company No. 201801045610 (1307642-V)
Nationality/Country of incorporation Malaysia
Descriptions (Class) ORDINARY SHARES
Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 02 Mar 2020
82,630,476
Transferred Direct Interest
Name of registered holder CITIGROUP NOMINEES (TEMPATAN) SDN BHD URUSHARTA JAMAAH SDN BHD (1)
Address of registered holder LEVEL 42, MENARA CITIBANK, 165 JALAN AMPANG, 50450 KUALA LUMPUR.
Description of "Others" Type of Transaction
2 02 Mar 2020
25,424,762
Transferred Direct Interest
Name of registered holder CITIGROUP NOMINEES (TEMPATAN) SDN BHD URUSHARTA JAMAAH SDN BHD (AFFIN 1)
Address of registered holder LEVEL 42, MENARA CITIBANK, 165 JALAN AMPANG, 50450 KUALA LUMPUR.
Description of "Others" Type of Transaction
3 02 Mar 2020
25,424,762
Transferred Direct Interest
Name of registered holder CITIGROUP NOMINEES (TEMPATAN) SDN BHD URUSHARTA JAMAAH S B (PRINCIPAL 1)
Address of registered holder LEVEL 42, MENARA CITIBANK, 165 JALAN AMPANG, 50450 KUALA LUMPUR.
Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred TRANSFER OF SHARES
Nature of interest Direct Interest
Direct (units) 133,480,000
Direct (%) 9.16
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change 133,480,000
Date of notice 03 Mar 2020
Date notice received by Listed Issuer 05 Mar 2020


Remarks :
NAME OF REGISTERED HOLDER AND TOTAL NUMBER OF SHARES HELD AFTER CHANGE
-----------------------------------------------------------------------------------------------------------------------------------

CITIGROUP NOMINEES (TEMPATAN) SDN BHD - URUSHARTA JAMAAH SDN BHD (1).: 82,630,476

CITIGROUP NOMINEES (TEMPATAN) SDN BHD - URUSHARTA JAMAAH SDN BHD (AFFIN 1).: 25,424,762

CITIGROUP NOMINEES (TEMPATAN) SDN BHD - URUSHARTA JAMAAH S B (PRINCIPAL 1).: 25,424,762

GRAND TOTAL : 133,480,000

Announcement Info
Company Name MCT BERHAD
Stock Name MCT
Date Announced 05 Mar 2020
Category Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016
Reference Number CS2-05032020-00079

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 09:15 | Report Abuse

TH punya mct syer bought at RM1.28 last time if not mistaken, so, offer price from Ayala should be reasonable if any :)

lee_m2020

4,801 posts

Posted by lee_m2020 > 2020-03-06 09:25 | Report Abuse

RM1.28... wow.. cant be forced sale at 0.20 else another blow to TH and Gov

Posted by John Ha Tung Soon > 2020-03-06 09:34 | Report Abuse

The transfer just from left hand to right hand?

lee_m2020

4,801 posts

Posted by lee_m2020 > 2020-03-06 11:20 | Report Abuse

no volume today...?!

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 14:19 | Report Abuse

Just be patient, hopefully, MCT's turn soon :)

KUALA LUMPUR (March 6): 7-Eleven Malaysia Holdings Bhd’s offer to acquire shares of Caring Pharmacy Group Bhd that it does not own commences today, and will be closed on March 27....

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 14:20 | Report Abuse

Not many MCT shares floating in the open market, mau Beli , cepat sedikit before out of stock :)

Posted by John Ha Tung Soon > 2020-03-06 14:39 | Report Abuse

Ha ha ha...Victor, we just ikan bilis. How much we can sapu?

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 15:36 | Report Abuse

Pretty safe at such price level. TH bought about 10% at rm1.28 , Ayala bought between 88sen and rm1.28, Ayala also advance few hundred million ringgits to MCT. Just need patient for this stock :)

Posted by John Ha Tung Soon > 2020-03-06 15:38 | Report Abuse

now it almost back to the history lowest point alry. will slowly buy some to average down the cost. hope you will be my god of fortune.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-06 15:40 | Report Abuse

Yalah , syndicate could afford to buy all the remaining 0.5% shares in open market nonstop till no more shares in the open market? :) Then negotiate to sell to Ayala like the founder goh :)

@John Ha Tung Soon Ha ha ha...Victor, we just ikan bilis. How much we can sapu?

valensi88

187 posts

Posted by valensi88 > 2020-03-06 15:47 | Report Abuse

Lmao stop selling down pls haha

Superb99

6,599 posts

Posted by Superb99 > 2020-03-06 16:14 | Report Abuse

ngeri counter

Posted by John Ha Tung Soon > 2020-03-09 09:54 | Report Abuse

today break new low, will it go further?

Superb99

6,599 posts

Posted by Superb99 > 2020-03-09 10:01 | Report Abuse

market is very poor and no strong support for this counter thus most likely will go down further

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 10:25 | Report Abuse

Limited shares in the open market. Accumulate in stages, go up fast too because limited shares in the open market

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 10:26 | Report Abuse

If u r a long term investor, got money, buy lor :)

Posted by John Ha Tung Soon > 2020-03-09 10:26 | Report Abuse

go up slow, but go down super fast

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 10:58 | Report Abuse

tabung haji bought at RM1.28 about 10% stake last time, govt will help TB to recover too , i believe.
MCT is profitable, nothing to worry about :) opportune to accumulate more :)


Friday, 6 Mar 2020

5:33PM MCT URUSHARTA JAMAAH SDN. BHD. (101,699,048 units Transferred)


Thursday, 5 Mar 2020

6:42PM MCT URUSHARTA JAMAAH SDN. BHD. (133,480,000 units Transferred)


Friday, 28 Feb 2020

6:46PM MCT Financial year end net profit 45.051 million

LuckyStorm

107 posts

Posted by LuckyStorm > 2020-03-09 11:08 | Report Abuse

On board MCT. Bought 0.1% of total share issued.

Posted by John Ha Tung Soon > 2020-03-09 13:39 | Report Abuse

wow, big kaki.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 16:13 | Report Abuse

congrats! kaya nanti :)

@LuckyStorm On board MCT. Bought 0.1% of total share issued.
09/03/2020 11:08 AM

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 16:14 | Report Abuse

will rebound pretty fast... limited shares in the open market. 0.5% :)

Date Open Range Close Change Volume
06/03/2020 0.21 0.205 - 0.215 0.21 -0.005 (2.33%) 1,725,700
05/03/2020 0.22 0.21 - 0.22 0.215 -0.005 (2.27%) 2,159,100
04/03/2020 0.215 0.21 - 0.22 0.22 +0.005 (2.33%) 2,183,900
03/03/2020 0.22 0.21 - 0.23 0.215 0.00 (0.00%) 2,465,100
02/03/2020 0.215 0.21 - 0.22 0.215 0.00 (0.00%) 2,516,800
28/02/2020 0.22 0.21 - 0.22 0.215 -0.01 (4.44%) 2,314,100
27/02/2020 0.225 0.22 - 0.235 0.225 0.00 (0.00%) 2,240,500
26/02/2020 0.235 0.22 - 0.24 0.225 -0.02 (8.16%) 5,706,700
25/02/2020 0.235 0.23 - 0.25 0.245 +0.005 (2.08%) 2,539,900
24/02/2020 0.24 0.235 - 0.25 0.24 -0.02 (7.69%) 5,081,100
21/02/2020 0.26 0.25 - 0.265 0.26 -0.005 (1.89%) 3,009,300
20/02/2020 0.275 0.26 - 0.275 0.265 -0.005 (1.85%) 7,207,600
19/02/2020 0.28 0.27 - 0.285 0.27 -0.01 (3.57%) 4,180,100
18/02/2020 0.29 0.275 - 0.29 0.28 -0.005 (1.75%) 3,366,500
17/02/2020 0.28 0.28 - 0.295 0.285 +0.005 (1.79%) 4,958,900

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 16:18 | Report Abuse

selling among fearful retailers and traders to investors ;) good buy for investors. rugi besar for short term fearful traders :)

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-09 16:20 | Report Abuse

never sell, just transferred :)

URUSHARTA JAMAAH SDN. BHD. 02-Mar-2020 Transferred 50,849,524 0.000
URUSHARTA JAMAAH SDN. BHD. 02-Mar-2020 Transferred 25,424,762 0.000
URUSHARTA JAMAAH SDN. BHD. 12-Feb-2020 Transferred 133,480,000 0.000

Posted by John Ha Tung Soon > 2020-03-09 16:30 | Report Abuse

they just transfer to the same account? what is this mean?

LuckyStorm

107 posts

Posted by LuckyStorm > 2020-03-09 18:17 | Report Abuse

property sector is damn cheap. Good chance to collect.
MCT huayang KSL.
Don’t speculate for short term rebound but invest for long term.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 09:07 | Report Abuse

At this price , easier for Ayala to privatize it. A blessing in disguise indeed :)

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 09:09 | Report Abuse

Agreed wholeheartedly. 6-12 months later, durian runtuh


@
LuckyStorm property sector is damn cheap. Good chance to collect.
MCT huayang KSL.
Don’t speculate for short term rebound but invest for long term.
09/03/2020 6:17 PM

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 09:39 | Report Abuse

Tabung haji tak bodoh invested in it


MCT BERHAD (881786-X)

Established in 1999 with a paid-up capital of RM250,000, MCT has grown over the past decade to become one of the leading property developers in Malaysia. In February 2018, MCT became one of the subsidiaries of Ayala Land Inc (Ayala Land) after a mandatory general offer (MGO) by Ayala Land.

Ayala Land is the largest property developer in the Philippines with a solid track record in developing large-scale, integrated, mixed-use, sustainable estates that are now thriving economic centers in their respective regions with a market capitalisation of approximately RM50 billion.

Today, MCT has grown to a full-service, integrated property developer with in-house capabilities including development planning, architectural and engineering design, project management, and construction. Its property ventures span major growth corridors and prime locations, including Cyberjaya, Cybersouth, Petaling Jaya and Subang Jaya.

Amongst MCT’s key developments are LakeFront, a mixed development consisting of high rise condominiums, villas, and commercial outlets; CyberSouth township covering 417.0 acres in Dengkil, and SkyPark, another mixed development in Cyberjaya.

MCT’s strategic landbank acquisitions have an estimated combined GDV of RM1.6 billion to be recognized until 2023. Furthermore, MCT’s unbilled sales stand strong at more than RM814 million as at FPE2018, securing revenue stream until the year 2020 with upcoming projects in the pipeline from our remaining landbank of 423 acres.

In sync with Ayala Land’s vision of “enhancing land and enriching lives for more people”, MCT empowers its employees to deliver quality products and services and build long term value for its stakeholders.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 09:41 | Report Abuse

If the top 30 shareholders holding 99.5% raise their shareholdings, out of stock in the open market soon :)

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 09:49 | Report Abuse

Ayala can help to get the rich Filipinos to buy mct’s properties here Hopefully.

The economy of the Philippines is the world's 36th largest economy by nominal GDP according to the 2019 estimate of the International Monetary Fund's statistics, it is the 13th largest economy in Asia, and the 4th largest economy in the ASEAN after Indonesia, Malaysia and Thailand. The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia.

The Philippines is primarily considered a newly industrialized country, which has an economy in transition from one based on agriculture to one based more on services and manufacturing. As of 2017, GDP by purchasing power parity was estimated to be at $1.980 trillion.[31]

Primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits. Major trading partners include Japan, China, the United States, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan and Thailand. The Philippines has been named as one of the Tiger Cub Economies together with Indonesia, Malaysia, Vietnam, and Thailand. It is currently one of Asia's fastest growing economies. However, major problems remain, mainly having to do with alleviating the wide income and growth disparities between the country's different regions and socioeconomic classes, reducing corruption, and investing in the infrastructure necessary to ensure future growth.

The Philippine economy is projected to be the 5th largest in Asia and 16th biggest in the world by 2050.[32] According to the PricewaterhouseCoopers, it estimates that it will be the 12th to 14th richest economy in the world by 2060. While this opposes other reports from HSBC Holdings PLC, that by the year 2050, the Philippines will have been stated to surpass the economy of Indonesia due to its yearly higher GDP growth rate of 6.5% (Second, after China). However, the economic statistics may still vary depending on the performance of the government every year.[33]

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 10:49 | Report Abuse

Time to grab from fearful retailers

Date Close
09/03/2020 0.17
06/03/2020 0.21
05/03/2020 0.215
04/03/2020 0.22
03/03/2020 0.215
02/03/2020 0.215
28/02/2020 0.215
27/02/2020 0.225
26/02/2020 0.225
25/02/2020 0.245
24/02/2020 0.24
21/02/2020 0.26
20/02/2020 0.265
19/02/2020 0.27
18/02/2020 0.28
17/02/2020 0.285

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 11:11 | Report Abuse

Quite impossible to resolve. Delist and relist later is the best option


PUBLIC SHAREHOLDINGS SPREAD
MCT BERHAD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description MCT BERHAD ("MCT" OR THE "COMPANY")

EXTENSION OF TIME TO COMPLY WITH PUBLIC SHAREHOLDING SPREAD REQUIREMENTS PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("EXTENSION OF TIME")
(Unless otherwise defined, the definitions set out in the announcements dated 6 February 2018, 21 March 2018, 29 March 2018, 30 May 2018, 24 July 2018, 1 August 2018, 22 November 2018, 17 January 2019, 30 January 2019, 28 May 2019, 8 July 2019, 9 August 2019, 21 November 2019 and 21 January 2020 (“Announcements”) shall apply herein.)



We refer to the Company’s Announcements in relation to the non-compliance of the Required Public Spread pursuant to Paragraph 8.02(1) of the Listing Requirements. The Board of Directors of MCT wishes to announce that the Company received today the approval letter dated 24 February 2020 from the Bursa Securities granting the Company further extension of time of six (6) months until 4 August 2020 to comply with the Required Public Spread.



As at 31 December 2019, the public shareholding spread of the Company was 24.59%. As such, the Company currently does not comply with the Required Public Spread.



To rectify the non-compliance with the Required Public Spread, the Company is exploring various options including:



1. Discussing with the Company’s major shareholders on the possibility of selling-down its shareholding to public shareholders;



2. Engaging with investment banks to identify potential public investors to increase public spread via a private placement; and



3. Intensifying communication with potential investors, analysts, research houses and shareholders to instil investor confidence and create better awareness and understanding of the Company’s business to increase take up of shares while retaining public shareholders in the Company.



The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.



This announcement is dated 25 February 2020.

Victor Yong

8,271 posts

Posted by Victor Yong > 2020-03-10 11:12 | Report Abuse

Top 30 shareholders holding 99.5%, shareholdering spread pulak :)

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