Posted by Stead > 2018-10-03 11:27 | Report Abuse

Total share cap after rights issue will be 767 mil shares. To declare 5 sen dividend, it will require RM38 mil. and 5 sen translate to a dividend yield of 4.7% based on RM1.06 share price.

Can MNRB commit to 5 sen dividend next year? Currently, they made about RM20mil to RM40mil a quarter.

Posted by TheContrarian > 2018-10-03 11:28 | Report Abuse

Out of 447m, the two major shareholders have given undertaking to subscribe to their entitlements of 236.7m.

Posted by CharlesT > 2018-10-03 11:30 | Report Abuse

Posted by TheContrarian > Oct 3, 2018 11:28 AM | Report Abuse

Out of 447m, the two major shareholders have given undertaking to subscribe to their entitlements of 236.7m.

True, PNB will take out the excess (FOC)...but will the current shareholders who wish not to subscribe just let their OR burnt? They should sell their ORs

Posted by CharlesT > 2018-10-03 11:31 | Report Abuse

Posted by Victor Yong > Oct 3, 2018 11:28 AM | Report Abuse

447M rights, 70 to 80% institutional funds ...only 20 to 30% ORs belonged to non institutional funds.. first half today almost gone , I guess :)

Let's assuming 20% will not subscribe the OR, this 20% should translate to 89.4M OR

Posted by Cipta > 2018-10-03 11:32 | Report Abuse

If MNRB can't raise enough RM400mil, what next?

Posted by CharlesT > 2018-10-03 11:32 | Report Abuse

Now is only 12M done....4 more days to go

Posted by Cipta > 2018-10-03 11:46 | Report Abuse

Which stock in Malaysia consist majority of retails small owners?

Posted by TheContrarian > 2018-10-03 11:51 | Report Abuse

Cipta, MNRB has undertaking from two major shareholders to buy up most of the unsubscribed rights allowing them to raise their combined shareholding to 75%, the maximum threshold to keep MNRB listed.

Posted by CharlesT > 2018-10-03 11:52 | Report Abuse

So better for them to buy OR foc (via excess) or paying 0.13 now?

Posted by TheContrarian > 2018-10-03 12:00 | Report Abuse

Applying for excess is no guarantee of success.

Posted by CharlesT > 2018-10-03 12:02 | Report Abuse

Yeap. Still it depends on how many will dump their OR during 5 trading days

Posted by Cipta > 2018-10-03 12:16 | Report Abuse

Either way, the major two will be the winner.
If OR fully subscribe by retails, they are happy no need to come out extra pocket money with controlling portion still not diluted.
If OR under subscribe, they can get excess OR for free.
Why they need to buy OR now?
Are small share owners have deep enough pocket to buy excess and OR as much as possible to leverage the cost? food of thought. :)

Posted by TheContrarian > 2018-10-03 12:20 | Report Abuse

Even if retailers apply for excess they will be given proportionally with other applicants of excess shares. The two major shareholders will get a huge chunk of the excess leaving very little to others

Posted by Cipta > 2018-10-03 12:23 | Report Abuse

Thats right! Contrarian. The big two's cost will always lower than retails. Big shark's profit doesn't guarantee small fry will make profit too.

Posted by Ron90 > 2018-10-03 13:37 | Report Abuse

guess why the volume surge significantly today...

Posted by CharlesT > 2018-10-03 14:37 | Report Abuse

15M+ done so far...r u sure those wanted to sell oredi sold????

Posted by shareinvestor88 > 2018-10-03 14:43 | Report Abuse

Sell , likely below 1

Posted by Cipta > 2018-10-03 16:00 | Report Abuse

everytime there is a negative comment, victor will show this chart to push up the comment

Posted by yanxuan8 > 2018-10-03 16:30 | Report Abuse

Why the hurry to push up? Institutional is the one selling the OR now!

Posted by yanxuan8 > 2018-10-03 16:34 | Report Abuse

can expect OR to trade below 10.0 sen tomorrow or Friday

Posted by iphone4 > 2018-10-03 16:40 | Report Abuse

@The Contrarian Quote " Even if retailers apply for excess they will be given proportionally ....."

For public listing , the minimum public spread needs to be maintained. So, if the RI is under subscribed, the first preference goes to the public application. Only if the Public excess application exceeded the unsubscribed RI, then the proportionate ratio applies. The undertaker, Amanah Saham Bumiputra and PNB only take the balance (left over).

Posted by CharlesT > 2018-10-03 16:54 | Report Abuse

Day 1 OR -6 cents mother -4 cents

Posted by firehawk > 2018-10-03 17:05 | Report Abuse

Everyday gives cheap offer to buyers, for months alrdy .... when the fair will end?

Posted by Nicholasming91 > 2018-10-03 19:00 | Report Abuse

Guys should i buy mother or buy OR

Posted by TheContrarian > 2018-10-03 19:20 | Report Abuse

There's little difference of only around 2 sen. If you buy OR and subscribe to it, you can't sell until you receive the shares. If price shoots up during that period and later retrace, you would have lost the opportunity to sell at peak.

Posted by Nicholasming91 > 2018-10-03 19:50 | Report Abuse

Oh i get it. Add up 0.90 0.12 is 1.02. Hm the contra when is the due date for OR

Posted by Nicholasming91 > 2018-10-03 19:51 | Report Abuse

Later if no buyers push up and OR keep dropping.. pull till 0.95 later ..?

Posted by Nicholasming91 > 2018-10-03 20:07 | Report Abuse

1.04 is the bottom price..? Those rugi stil want to sell.. why

Posted by Nicholasming91 > 2018-10-03 20:27 | Report Abuse

Tmr i go que 1.03

Posted by TheContrarian > 2018-10-03 20:31 | Report Abuse

Closing date for payment of rights is 17/10 and there will probably be another week before the new shares are listed.

Posted by TheContrarian > 2018-10-03 20:34 | Report Abuse

iPhone4, read page 23 to MNRB's abridged prospectus.

Posted by Nicholasming91 > 2018-10-03 20:58 | Report Abuse

I also bought reach @0.07 warrant. But not sure whether MNRB will go lower than 1.00 or not cuz i not familir with RI and OR

Posted by iphone4 > 2018-10-03 21:49 | Report Abuse

@TheContrarian - pg 23 talked abt equitable distribution. This applies only when Excess Application exceeded the under subscription. Take this working example - At close of RI submission , Subscription rate was 80% , meaning 20% under subscription. If the excess application exceed this quantum, equitable distribution applies (Pg 23). Amanah Saham Bumiputra and PNB cannot just "sapu" first . Btw Amanah and PNB hve restricted holding % ( listing requirement) in MNRB. Under Bursa Public Listing ruling, minimum public spread (Public shareholding) is required

Posted by firehawk > 2018-10-03 23:14 | Report Abuse

After RI ... best time for the price to rebound, selling for cash to subscribe RI ends ....

Posted by Ron90 > 2018-10-03 23:58 | Report Abuse

Do the math, every day drop 2 cents x 10 days = 20 cents !!...PNB investors got conned over here..huhu. If PNB really care and serious abut this company, they wont let the price drop like shit and reduce the investment value so much. Buy RI at 90 cents, in he hope to sell at 1.20 ??...or drop at 80 cents ...huhu.

look at any government link company shares..all drop like hell...in indication of ph performance and umno still in control of all the government link investment arms... even goverment administration at Putraaya, mahathir still cannot control....still got many bn supporters that keep on sabotaging PH agenda

Posted by TheContrarian > 2018-10-04 00:20 | Report Abuse

Equitable distribution of excess rights shares on pro-rata basis calculated on the respective shareholdings on the entitlement date. These two major shareholders own how much shares on the entitlement date? They will be entitled based on that proportion. Who says they are going to sapu all? They are going to get a big chunk.

Posted by Nicholasming91 > 2018-10-04 00:30 | Report Abuse

Ok tomorrow i lock in 1.04. Wish me luck

Posted by hng33 > 2018-10-04 10:40 | Report Abuse

:D)

Posted by smartag > 2018-10-04 10:51 | Report Abuse

I just bought 0.125 for long term

Posted by TheContrarian > 2018-10-04 10:54 | Report Abuse

Watching hng33.

Posted by hng33 > 2018-10-04 11:00 | Report Abuse

sell on strength, lock all profit

Posted by Nicholasming91 > 2018-10-04 11:07 | Report Abuse

Got 1.07 today .

Posted by iphone4 > 2018-10-04 11:38 | Report Abuse

@The Contrarian - Only if they submit their Excess Application. If they do, they r damn stupid - they will distort the public listing rule.

Posted by Cipta > 2018-10-04 12:17 | Report Abuse

Sell the mother at RM1.06 then buy back at RM0.90 with the entitled right, good biz? ?? :)

Posted by TheContrarian > 2018-10-04 12:34 | Report Abuse

iPhone4, the two major shareholders have given undertaking to subscribe to excess rights shares up to an amount that where combined their shareholdings will be a maximum 75%.

Posted by iphone4 > 2018-10-04 12:36 | Report Abuse

@Cipta - U got it right. Did talk abt it when it was trading @RM1.14. Very high possibility of under subscription. Don't worry abt the "big boys" submitting the Excess Application. Minimum public spread needed for listing.

Posted by Cipta > 2018-10-04 13:06 | Report Abuse

Sell the mother at RM1.06 then buy back at RM0.90 with the entitled right, good biz? ?? :)

Posted by iphone4 > 2018-10-04 13:36 | Report Abuse

@The Contratrian - A letter of undertaking is an assurance by one party to another party that they will fulfill the obligation , meaning PNB/Amanah will subscript fully their RI entitlement, not on (related) Excess Application. The undertaking may include to take up the balance unsubscribed shares , more as a guarantor to MNRB RI - this has nothing do with Excess Application. Excess Application means must put money forward - don't U it think it makes more sense to stay as undertaker than put money forward in Excess Application.

Let's us no debate further on this. V r right in our own "thought" , not necessary right.

Posted by TheContrarian > 2018-10-04 13:50 | Report Abuse

Read page 4 to the abridged prospectus.

Posted by Ron90 > 2018-10-04 14:29 | Report Abuse

Renunciation of the Rights Shares

The Proposed Rights Issue is renounceable in full or in part. Accordingly, the Entitled
Shareholders can subscribe for and/or renounce their entitlements for the Rights Shares in full
or in part. The Rights Shares which are not taken up or not validly taken up will be made
available for excess applications by the other Entitled Shareholders and/or their renouncee(s).
It is the intention of the Board to allocate the Excess Rights Shares in an equitable manner
and on a basis to be determined, details of which will be set out in the abridged prospectus to
be issued by the Company for the Proposed Rights Issue.