Posted by Albukhary > 2023-10-25 21:27 | Report Abuse

***RM750mil***

Posted by GoldmanSach > 2023-10-25 22:07 | Report Abuse

If 70% stakes sell at USD100Mil (RM470Mil) = RM1.13 per share

If 70% stakes sell at USD200Mil (RM940Mil) = RM2.25 per share

It will trigger "General Offer" for the remaining share if Quek selling his 70% stakes.

Posted by Atacms > 2023-10-26 11:54 | Report Abuse

Another big institutional fund will buy I guess 😃

Posted by Albukhary > 2023-10-26 16:47 | Report Abuse

Real deal, not fake rumour

Posted by WiraBoleh > 2023-10-27 11:39 | Report Abuse

Tak tau kenapa HLBB mau jual...

Posted by Atacms > 2023-10-27 11:49 | Report Abuse

No idea...Anyway I think demand for steel will rise due to robust construction activities

Posted by Albukhary > 2023-10-27 14:14 | Report Abuse

We refer to the query from Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 26 October 2023 in relation to the Article Entitled: "Tycoon Quek's Hong Leong considering sale of Southern Steel stake, sources say" appearing in The Edge Malaysia dated 25 October 2023.

The Company, having made due inquiry with its Board of Directors, its major shareholder and all such other persons reasonably familiar with the matter, wishes to confirm that as of the date of this announcement, it is not aware of any agreement involving the Company entered into by the major shareholder which requires disclosure pursuant to Main Market Listing Requirements of Bursa Securities (“MMLR”).

The Company will make the necessary announcement to Bursa Securities when it becomes aware of any material development involving the Company, in compliance with its obligations under the MMLR.

Shareholders and investors are advised to exercise caution in trading in the shares of the Company.

Posted by Albukhary > 2023-10-27 14:21 | Report Abuse

This type of announcement make us more convince there is something brewing.

Posted by Albukhary > 2023-10-27 14:26 | Report Abuse

Last time when The Edge first reported that Boustead have intention to dispose BPLANT, Boustead also announce that it has not aware about any agreement entered by its major shareholder LTAT.

Posted by TiGongPoPiPopi > 2023-10-29 15:52 |

Post removed.Why?

Posted by Jnlee > 2023-10-30 13:32 | Report Abuse

Mari lagi?

Posted by Ahmadrazak > 2023-10-30 14:33 | Report Abuse

SSTEEL deal going to announce soon ?

Posted by Ahmadrazak > 2023-10-30 14:41 | Report Abuse

Price up even company denied the news, meaning deal going to announce very soon.

Posted by Albukhary > 2023-10-30 14:44 | Report Abuse

As I mentioned earlier, this is real deal.

Posted by Ahmadrazak > 2023-10-30 14:48 | Report Abuse

Albukhary, 70% stakes in SSTEEL sell at RM750Mil ?

Posted by Albukhary > 2023-10-30 15:00 | Report Abuse

As per my own calculation, RM750mil is the entire company market cap.
RM750mil / 600mil share, approximately RM1.25.

Posted by Albukhary > 2023-10-30 15:02 | Report Abuse

This counter is being cornered d, floating share is very minimal.
Once the news is confirmed, then immediately will shoot above RM1.

Posted by Ahmadrazak > 2023-10-30 15:09 | Report Abuse

Waooo, RM1.25 per share still got 50% upside from current share price 80sen now.

Posted by Ahmadrazak > 2023-10-30 15:12 | Report Abuse

Pray for limit up today 97.5sen.

Posted by newbie9893 > 2023-10-30 15:14 | Report Abuse

confirmed limit up today

Posted by Cnlim > 2023-10-30 15:19 | Report Abuse

then you better take all the seller 😄😄😄

Posted by newbie9893 > 2023-10-30 15:24 | Report Abuse

SSTEEL deal confirmed...kasih limit up

Posted by Ahmadrazak > 2023-10-30 16:41 | Report Abuse

Last min sapu, deal look confirm

Posted by MichelleNg > 2023-10-30 20:45 | Report Abuse

What deal confirmed? Tomorrow limit up?

Posted by zildjian > 2023-10-30 22:43 | Report Abuse

will suspend anytime soon

Posted by Ahmadrazak > 2023-10-31 08:52 | Report Abuse

Tan Sri Quek want to sell at RM2.30 per share.

Posted by Ahmadrazak > 2023-10-31 09:18 | Report Abuse

Hong Leong Group looking to sell its 70% stake in steel manufacturer for as much as RM956 million.

PETALING JAYA: Southern Steel Bhd’s shares surged 31.25% or 18 sen on reports that billionaire Quek Leng Chan’s Hong Leong Group is considering selling its stake in the steel products manufacturer for as much as US$200 million (RM956 million).

It hit an intraday high of 74 sen before paring its gains and closing at 73.5 sen with 1.32 million shares traded. People familiar with the matter said the Quek-controlled Hong Leong Group is working with advisers on the planned divestment of its 70% stake, according to a Bloomberg News report.Should the deal go through at the higher range of the valuation, it would be more than double the company’s current market value of RM438.29 million. headtopics.com

Additionally, they said the conglomerate and its advisers have reached out to companies within the industry and financial investors in gauging their interest. Apart from Hong Leong Manufacturing Group Sdn Bhd and Signaland Sdn Bhd, which are members of Hong Leong Group Malaysia, its other shareholders include the founding business families based in Penang, according to its website.

Southern Steel was listed in in 1993 on the Kuala Lumpur Stock Exchange, now known as Bursa Malaysia.

Posted by Cnlim > 2023-10-31 09:18 | Report Abuse

who is going to buy at such price?

Posted by Ahmadrazak > 2023-10-31 09:19 | Report Abuse

Tan Sri Quek want to sell 70% SSTEEL at RM956Million. This equal to RM2.30 per share. Now share price only 80sen, still got 3x upside.

Posted by Atacms > 2023-10-31 13:21 | Report Abuse

In that case, who wanna buy it if he sell at RM956 m as it's equivalent to RM2.30 per share 😅

Posted by Atacms > 2023-11-01 14:40 | Report Abuse

even though SSteel is not so profitable, but it's able to make more than RM400 mil per quarter

Posted by Albukhary > 2023-11-02 18:34 | Report Abuse

waiting for announcement

Posted by Atacms > 2023-11-03 15:38 | Report Abuse

Quek will sell to MPI 😆

Posted by newbie9893 > 2023-11-09 12:02 | Report Abuse

bottom fishing?

Posted by newbie9893 > 2023-11-09 15:15 | Report Abuse

Hi big shark, bila nal goreng up lagi

Posted by Atacms > 2023-11-15 14:21 | Report Abuse

Wait for anther announcement from Uncle Quek 😁

Posted by stncws > 2023-11-15 14:23 | Report Abuse

look hot today....mycron.....steel QR this month

Posted by AhHuat168 > 2023-11-16 16:58 | Report Abuse

time to collect and keep

Posted by Albukhary > 2023-11-28 12:55 | Report Abuse

Hong Leong cannot find buyer?

Posted by Atacms > 2023-12-04 16:44 | Report Abuse

I guess so. Still waiting for the latest announcement on that ...

Posted by Albukhary > 2023-12-06 12:02 | Report Abuse

Disposal proposal on table again? USD200mil?

Posted by Cnlim > 2023-12-06 12:51 | Report Abuse

up you all will say proposal on table down say no deal haha

Posted by Albukhary > 2023-12-06 13:30 | Report Abuse

@Cnlim, this is the fun part of being in the stock market.
When topic is hot, we add oil and fire into it, make it more hot.
When topic is cold, we put it into freezer quietly.

Posted by Albukhary > 2023-12-06 16:29 | Report Abuse

Can you smell something is brewing?
USD200mil proposal is going to reveal soon...

Posted by Albukhary > 2023-12-08 12:03 | Report Abuse

Cold cold winter again

Posted by Atacms > 2023-12-13 13:36 | Report Abuse

@Albukhary. Mind to share the news link?

Posted by Albukhary > 2023-12-13 14:03 | Report Abuse

You can google it, first news was from The Edge.

Posted by value_seeker > 2023-12-13 14:14 | Report Abuse

Got news on 200?

Posted by Atacms > 2023-12-21 09:47 | Report Abuse

Hong Leong started disposing .. I guess they found a buyer to buy over SSTEEL alrdy

Posted by Atacms > 2023-12-26 11:34 | Report Abuse

But it made us wondering who the buyer was, hehe