Posted by chankp7010 > 2019-04-29 09:26 | Report Abuse

To get limit up buyers must push up RM0.58 and above (i.e. 30% of RM1.94). As it is now, Yee Lee is stabled at RM2.33 indicating controlling shareholders or interested parties are buying. The reason is simple: 1. this counter is grossly undervalued, take over might not succeed in getting the required percentage. 2. Fund Managers are not keen to sell and therefore, they need to buy up loose holders at RM2.33. If their purchase price is over RM2.33, they need to revised the take over price at higher level.

Posted by Sebastian Sted Power > 2019-04-29 09:31 | Report Abuse

buy if you got extra bullet because confirm will re-offer at higher price

Posted by Icon8888 > 2019-04-29 09:32 | Report Abuse

I sold few days ago at 195

: (

Posted by Tomatoman79 > 2019-04-29 09:35 | Report Abuse

they will adjust the offer price higher. thats what normally happened.

Posted by Sebastian Sted Power > 2019-04-29 09:44 | Report Abuse

aiyo... icon gor gor why you no hold this ball? All in to MBMR and HTpadu kah?

Posted by UnicornP > 2019-04-29 10:52 | Report Abuse

https://www.thestar.com.my/business/business-news/2019/04/29/quick-take-yee-lee-hits-limit-up-on-privatisation-offer/

aiyoyo where got hit limit up la. Limit up is 2.52. Today high is 2.34.

Posted by riskabsorber > 2019-04-29 10:56 | Report Abuse

Let's see when the audited report is issued. The 30 largest shareholders list to indicate whether they have owned more than 75% or not. Annual report should be out in these few days.

Posted by Goh Kim Hock > 2019-04-29 11:36 | Report Abuse

really lol at the star saying limit up. This explains their shallow knowledge of stocks.

Posted by riskabsorber > 2019-04-29 14:57 | Report Abuse

Comments from PublicInvestment - Yee Lee Organisation, along with Dato’ Lim A Heng, Datin Chua Shok Tim, Lim Ee Young and Langit Makmur Sdn Bhd had recently announced their intentions to undertake an unconditional voluntary take-over offer to acquire the remaining 79.6m shares (41.6% of total issued shares) they do not own in Yee Lee Corporation Bhd (Yee Lee) for RM2.33 per offer share. It is interesting to note the involvement of Langit Makmur, a private equity fund linked company incorporated for the purpose of this exercise, one which is undertaking to satisfy the entire RM185m consideration of the Offer in cash. The takeover offer price represents a 20% upside from the current price and is slightly above our 12-month target price of RM2.28 based on our FY19 sum-of parts valuation. Whether the offer is fair and/or reasonable will be for the shareholders to decide ultimately (current book value of company as at 31 December 2018 is RM3.29 per share). It does however give shareholders the opportunity to cash out of a stock which has only traded above the offer price for a 6-month period in 2017 since listing.

- Langit Makmur Sdn Bhd was just recently incorporated on 15 April, 2019 as a special purpose vehicle for this exercise. Ultimate shareholders are Dymon Asia Capital Ltd, a Singapore-based fund manager licensed by the Monetary Authority of Singapore which manages alternative investment funds. Private equity funds the company manages invest in companies across South East Asia, concentrating on small and medium enterprises. Investment strategy is focused on companies with long-term transformational objectives, and typically has long term holding periods in its investments.

- Adjusted offer price on dividend entitlement. On 27 February 2019, Yee Lee proposed a dividend of 4 sen per share subjected to shareholders’ approval at the forthcoming AGM. Accepting shareholders whose names appear in the Record of Depositors of Yee Lee will receive an adjusted offer price of RM2.29 instead.

- Joint offerors do not intend to maintain the listing status of Yee Lee. In relation to the acquisition, the Joint Offerors intend to withdraw Yee Lee’s listing status if Bursa’s minimum requirement of 25% public shareholding spread is not met. In the scenario where they hold more than 75% or less than 90% of the listing shares, they will request to withdraw its listing application. If they own more than 90%, the joint offerors will delist the stock. The joint offers currently hold in aggregate 58.4% of the voting shares in Yee Lee.

Posted by 1049122579 > 2019-04-29 21:17 | Report Abuse

what will happen if we dint sell our shares but they already get more than 90% shares from the market?

Posted by riskabsorber > 2019-04-30 05:03 | Report Abuse

If they have more than 90%, is consider compulsory takeover from you. No need to sell your shares, they will buy back at 2.33-
If they have less than 75% until the closing date, they will revise the rate if possible.

Posted by Sebastian Sted Power > 2019-04-30 09:21 | Report Abuse

Not easy deal with that EPF holds 3.2%, Public mutual holds 6%. I don't think their entry price so cheap last time.

We only ikan bilis cannot do much

Posted by 1049122579 > 2019-04-30 09:27 | Report Abuse

@riskabsorber: if they have more than 75% but less than 90%, can we continue become delisted company shareholder?
how is the procedure?
thanks alot.

Posted by TegasTSSB > 2019-04-30 09:50 | Report Abuse

I think more importantly is that the company's NTA is 3.29. So, even if my previous entry price was at RM2, i will still be looking at RM3.29 as minimum because that is what the company is worth and so is my share in the company.
By offering 2.33, the company is therefore asking small shareholders to sell the shares back to the company at a discount of RM0.96 per share. This is definitely not a fair deal to small shareholders.
I just hope that majority of small shareholders understand this and not to trade at this 3.29 to 3.33 range now so that they cannot collect enough stocks to go thru the offer.
In fact, small holders should be buying more as we have another potential up side of RM0.96.

Posted by TegasTSSB > 2019-04-30 09:51 | Report Abuse

All small shareholders need to work together as a team to prevent this bully from major shareholders.

Posted by riskabsorber > 2019-04-30 10:08 | Report Abuse

Refers to the top thirty shareholding, they are still struggling to get the minimum of 75%.
1) EPF holds 3.56%, Public Mutual holds 7.13%
2) Total shares size less than 100k about 15%, or 2,463 shareholders.
If they would want to proceed, they might need to raise the takeover price. Yesterday, the buy and sell were from them. To create the impression for the holders which people are selling their stakes. Please do not sell if you think they will revise the takeover price.

Posted by riskabsorber > 2019-04-30 12:22 | Report Abuse

No need so worry yet, retail shareholders are buying to get higher return. 29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,200. Havings say that, 995,671 not belongs to them.

Posted by Tomatoman79 > 2019-04-30 15:03 | Report Abuse

they will revise the price lar... they offer 2.33 so they can whack at cheap. then revise price is the actual they tend to pay. so they fork up less because oredi whack at 2.33. buy more to get free money.

Posted by TegasTSSB > 2019-04-30 17:29 | Report Abuse

@riskabsorber, if you do not mind, can you please share where do you get the source shareholder buying details as you have mentioned for 29 Apr transactions?
thanks.

Posted by riskabsorber > 2019-05-01 15:53 | Report Abuse

Transaction at http://www.bursamalaysia.com/market/securities/equities/market-statistics/

Posted by Investeye > 2019-05-01 21:38 | Report Abuse

Never put your money in the counter/company with good profit but very stingy to reward shareholders ( specially the return/dividend is similar or even less than FD for for long term). Don't find an excuse to tell that the share is always underestimated by the market and find some reasons to privatize/delisting. The question is who will take risk to invest but the expected return is always lower than FD?

Posted by Jeffreyteck > 2019-05-02 08:38 | Report Abuse

Daiman nta about $6 but bought back at 3.50 few months ago. Our regulator always said protecting investors. This is a free market at our own risk, too bad and pray hard.

Posted by riskabsorber > 2019-05-02 09:12 | Report Abuse

30/4 Total transacted shares 965,500 but they only manage to get 860,000. The rest 100,500 who taken ?

Posted by TegasTSSB > 2019-05-02 12:20 | Report Abuse

Major shareholders start to ask FA promoting already. :)

Posted by riskabsorber > 2019-05-03 10:38 | Report Abuse

2/5 Total transacted shares 772,092 but they only manage to get 320,200. The rest 451,892 who taken ?

Posted by chankp7010 > 2019-05-04 09:01 | Report Abuse

I agreed with "Investeye". Many controlling shareholders can tell you stories why and how the money must be kept for future development or for unforeseen events/uncertainties. Actually, the real reason is that they are stingy and unwilling to reward minority shareholders. In the case of Yee Lee, EPS is over 20 cents, paid 4.5% div; over 19 cents EPS, only proposed 4 cents. NTA RM3.29, take over price RM2.33 less 4 cents dividend proposed.

Posted by FLINV > 2019-05-04 17:02 | Report Abuse

This case let me feel be a long term investor in KLSE is difficult.

Posted by StockStalker > 2019-05-05 00:00 | Report Abuse

Hi @riskabsorber, http://www.bursamalaysia.com/market/securities/equities/market-statistics/ shows only Total Transacted Shares (ie. 772,092 on 2/5), but does not show the Transacted Volume by Major Shareholders (ie. 320,200). Is the Major Shareholders Transaction taken from other source ?

Posted by riskabsorber > 2019-05-06 08:23 | Report Abuse

@StockStalker, which mean someone other than the offeror is buying also. They might be someone who feel that the offer price is too low and previously they also own significant amount of shares. Based on the latest annual report top 30 shareholding analysis, got some name are quite strange to me (Eternal Value Sdn Bhd owned 847k, Eletechnics owned 500k, Tan Eng Guan who was the former F&N CFO owned 412.5k). I believe they are long term investors and feel that the management is given lousy offer price at 2.33. Hence, they also buying to vote NO for the takeover price.

Posted by riskabsorber > 2019-05-06 08:28 | Report Abuse

Also, Lim Peng Jin (Top 20th Shareholders) is the managing director for Scientex.

Posted by riskabsorber > 2019-05-06 10:19 | Report Abuse

3/5 Total transacted shares 229,200 but they manage to get 223,100. Almost 97%

Posted by StockStalker > 2019-05-06 11:29 | Report Abuse

@riskabsorber, sorry, I am still unclear, rephrase my question as follows :
http://www.bursamalaysia.com/market/securities/equities/market-statist... shows only Total Transacted Shares (ie. 772,092 on 2/5), and your above post says "2/5 Total transacted shares 772,092 but they only manage to get 320,200".
Who are "they" ? does "they" refer to major shareholder Yee Lee Organization Bhd that owns 51.42% of the company ? if so, where did you get the data that says the 320,200 shares were bought by Yee Lee Organization Bhd ?
Hope you can enlighten me re the above, and thanks.

Posted by riskabsorber > 2019-05-06 13:26 | Report Abuse

@StockStalker, "They" refer to Yeelee and they have to announce the number of shares purchased at daily basis to Bursa. http://www.bursamalaysia.com/market/listed-companies/company-announcements#/?company=5584

Posted by riskabsorber > 2019-05-07 09:13 | Report Abuse

6/5 Total transacted shares 965,564 but they manage to get 617,000. The rest 348,564?

Posted by StockStalker > 2019-05-07 14:51 | Report Abuse

@riskabsorber, thanks for sharing and pointing me in the right direction.
Good luck, and hope collective actions of the minority can thwart the unfair takeover attempt of controlling shareholders.
By the way, controlling shareholders have been accustomed to taking advantage of the minority, please read "Top 20 companies with highest paid CEOs", https://www.thestar.com.my/business/business-news/2019/05/07/five-glcs-among-20-listed-firms-with-highestpaid-ceos/

Posted by StockStalker > 2019-05-07 21:34 | Report Abuse

Why public listed companies can justify astronomical amount of CEO pays but they cannot pay employees more decent wages, reward shareholders higher dividends, or offer a fairer and more reasonable price in a takeover bid ?
Please read "Why American CEOs are worried about capitalism", https://www.ft.com/content/138e103a-61a4-11e9-b285-3acd5d43599e

Posted by riskabsorber > 2019-05-08 09:47 | Report Abuse

7/5 Total transacted shares 329,064 but they manage to get 12,300. The rest 316,764?

Posted by Tomatoman79 > 2019-05-08 10:51 | Report Abuse

seems people are not keen to sell at 2.33 anymore. too cheap. i bought at 2.45 last year. do they think i want to let go at 2.33.. dreamlah

Posted by Sharmila Rao > 2019-05-08 14:09 | Report Abuse

Hold or sell?

Posted by drt6398 > 2019-05-08 17:33 | Report Abuse

Hold..low trade volume only 80,200..unless they offer better takeover price

Posted by riskabsorber > 2019-05-09 09:45 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284

Posted by Jeffreyteck > 2019-05-09 13:18 | Report Abuse

Target revise offer 3.60 min.

Posted by riskabsorber > 2019-05-10 10:31 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000

Past 8 trading days, they manage to get 4,591,375 or 2.4%.

Posted by audrey74 > 2019-05-11 10:00 | Report Abuse

Hold or sell for small holder like me?

Posted by riskabsorber > 2019-05-13 09:13 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864

Posted by riskabsorber > 2019-05-14 09:56 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864
13/5 Total transacted shares 78,600 they manage to get 74,600

Posted by riskabsorber > 2019-05-15 11:00 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864
13/5 Total transacted shares 78,600 they manage to get 74,600
14/5 Total transacted shares 132,400 they manage to get 1,500

Looks like they have stopped buying from the market. Likely they know they cannot get 75% with this price.

Posted by riskabsorber > 2019-05-16 10:13 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864
13/5 Total transacted shares 78,600 they manage to get 74,600
14/5 Total transacted shares 132,400 they manage to get 1,500
15/5 Total transacted shares 140,600 they manage to get 120,200

Posted by riskabsorber > 2019-05-17 10:01 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864
13/5 Total transacted shares 78,600 they manage to get 74,600
14/5 Total transacted shares 132,400 they manage to get 1,500
15/5 Total transacted shares 140,600 they manage to get 120,200
16/5 Total transacted shares 18,800 they manage to get 6,500

Posted by riskabsorber > 2019-05-21 10:04 | Report Abuse

29/4 Total transacted shares 3,398,871 but they only manage to get 2,403,271
30/4 Total transacted shares 965,500 but they only manage to get 860,000
2/5 Total transacted shares 772,092 but they only manage to get 320,292
3/5 Total transacted shares 229,200 but they manage to get 223,100
6/5 Total transacted shares 965,564 but they manage to get 617,064
7/5 Total transacted shares 329,064 but they manage to get 12,364
8/5 Total transacted shares 80,284 they manage to get 80,284
9/5 Total transacted shares 75,000 they manage to get 75,000
10/5 Total transacted shares 41,864 they manage to get 41,864
13/5 Total transacted shares 78,600 they manage to get 74,600
14/5 Total transacted shares 132,400 they manage to get 1,500
15/5 Total transacted shares 140,600 they manage to get 120,200
16/5 Total transacted shares 18,800 they manage to get 6,500
17/5 Total transacted shares 46,000 they manage to get 16,000

14 trading days - Total transacted shares 7,273,839 they manage to get 4,852,039 (~2.5%)