Posted by PenadolMental > 2013-10-22 11:03 | Report Abuse

look good

Posted by smartly > 2013-10-22 11:03 | Report Abuse

i think no problem to go beyond 20m shares trading for today...

Posted by trustme932 > 2013-10-22 11:13 | Report Abuse

hng33...i respect n value your FA..i learn something from u now.tq again.I took my profit on wb though i expected it to move up further as i have too many stocks to take care of,some,even for months.I cudnt resist buying when it was 0.59..itchy fingers,small profit is ok with me,enough to pay my petrol bills for 6-9 months.

Posted by smartly > 2013-10-22 11:18 | Report Abuse

smart move,,, :) now just waiting at 1.87.
when time due, sbb will get enough of units at higher bid.

Posted by thekennkenn > 2013-10-22 11:20 | Report Abuse

Can i clarify my doubt, how if the the privatise happen with cutting down the par value from 0.50 to 0.10, to swap share into YTL mother arm, how it will affect the ytlpwr warrant B? Please teach me. Thanks.

Posted by smartly > 2013-10-22 11:27 | Report Abuse

what u mentioned only one of the possibility, there are many combination could happen in due course :-

shares swap only
shares swap + capital repayment
shares swap + special dividend

with above, son will get swap as well probably with different ratio.

Posted by smartly > 2013-10-22 11:29 | Report Abuse

please read back...hng33's

Posted by smartly > 2013-10-22 11:33 | Report Abuse

1.88 - 1.21 = 67c

son still worth 67c.

Posted by hng33 > 2013-10-22 11:35 | Report Abuse

thekennkenn

Warrant is protect under law, the exercise price will be adjusted according under formula to calculate revise exercise price if any of the following change mum fundamental

1. Issue another new warrant
2. Reduce par value and capital repayment
3. Share dividend

Posted by thekennkenn > 2013-10-22 11:37 | Report Abuse

thanks smartly, how about share swap with capital repayment or share swap with special dividend, it is relates to mother share only? I just not very sure about how it will affect the warrant, because i may not wish to convert to neither ytlpwr or ytl mother share, i just wish the current situation can bring up ytlpwr mother share and i can enjoy the premium diff between the exercise price. Kindly teach me, banyak thank you ya! :)

Posted by JTFX > 2013-10-22 11:38 | Report Abuse

trustme932, as long as we make profit..thats the whole point here..also this is a public forum, not the FXCapital mkts, different audience.. all kind of ppl here with various background, so can also get some diffrent views n negative comments..just relax chief..cheers..

Posted by smartly > 2013-10-22 11:40 | Report Abuse

hng33, he is asking privatisation not mum's fundamental...

Posted by smartly > 2013-10-22 11:45 | Report Abuse

thekennkenn, sorry, i don't understand yr question.
there are 2 thing you are talking here. probably you confuse yrself ed.

1. privatization
2. convert WB to ytlpwr

above are 2 diff thing. don't mixed them up.

Posted by hng33 > 2013-10-22 11:48 | Report Abuse

thekennkenn

Lets examine again the possible scenario if privatization materialize

1. Share swap only, value YTLP at 2.40 and YTL at 1.60. the ration will be

1 YTLP: 1.5YTL ; 1 YTLP wb: 0.74 YTL

2. share swap + capital repayment/special dividend, value YTLP at 2.40 and YTL at 1.60.

1 YTLP: 1YTL + 80sen; 1 YTLP wb: 0.74 YTL


Remark: the final value for both YTLP and YTL will depend on FY and final market price for YTL

Posted by smartly > 2013-10-22 11:49 | Report Abuse

e.g u can buy WB now, let say

@ 0.65c

if u wish convert this WB to ytlpwr, u need to pay another 1.21 to get mum share (ytlpwr)

yr investment is 0.65 + 1.21 = 1.86

mum now at 1.88, you make 2c from converting son (WB) to mum (ytlpwr)

****Privatisation is another exercise altogether.

Posted by hng33 > 2013-10-22 11:50 | Report Abuse

If there is privatization, both YTLP and WB will together swap to YTL.

Posted by thekennkenn > 2013-10-22 11:51 | Report Abuse

Ok, sorry ya let me clarify this.

My understanding is, mother share - 1.21 exercise price = warrant fair value.

1) So if ytlpwr cut the par value down, how will it affect the current ytlpwr share price? And how will it affect the warrant price too?

2) If come to the circumstances of swap share into ytl, it that force to swap into ytl? Or ytlpwr still will remain listing in bursa?

Sorry for my knowledge is not really good. Haha.

Posted by thekennkenn > 2013-10-22 11:56 | Report Abuse

Okok, i just saw both of your comment, reading and learning it now...
Thank you so much!

Posted by thekennkenn > 2013-10-22 12:00 | Report Abuse

Really thanks to all the master here. Wish everyone good hunt ya!

Posted by hng33 > 2013-10-22 12:00 | Report Abuse

Q: if ytlpwr cut the par value down, how will it affect the current ytlpwr share price? And how will it affect the warrant price too?

A: Aa said before, Warrant is protect under law, the exercise price will be adjusted according under formula to calculate revise exercise price. If exercise price is reduce let said by 40sen to 81sen only and mum share can stay at 1.60 after 40sen entitlement, warrant price will have still retain its value at 79sen.


2) If come to the circumstances of swap share into ytl, it that force to swap into ytl? Or ytlpwr still will remain listing in bursa?

A: If there is privatization, both YTLP and WB will be offer to swap to YTL share at certain ratio and is either inter-conditional or independent

Posted by thekennkenn > 2013-10-22 12:09 | Report Abuse

Big thanks!!!!!!!!!!!!

Posted by hng33 > 2013-10-22 12:17 | Report Abuse

You welcome :)

Posted by hng33 > 2013-10-22 13:21 | Report Abuse

Latest Maybank research report rule out privatization now, instead view current share buyback and cancellation is to increase YTL corp stake in YTLP from 55% to above 70% by 2014, which mean YTLP need to buyback first 10% cancel, follow by second tranche 10% cancel + and final third tranche for last round of 10% cancel to increase stake to above 70%

Posted by hng33 > 2013-10-22 13:51 | Report Abuse

Lets examine again YTLP shareholding.

1. YTL corp 44.9%
2. Cornerstone Crest(Yeoh private control investment company): 6.35%
2. Yeoh and Son bhd: 3.73
3. Yeoh other family member: 0.74%

All in all, YTL corp which in turn control by Yeoh family (49.11%) only control 44.9% in YTLP and less than 7% in YTLP-WB (already opt for sale last year). However, if take into account Yeoh family direct stake, the control stake increase to 55.7%.

Nonetheless, the effective stake actual under Yeoh family is much lesser again as Yeoh family only control 49.11% in YTL crop, which control 44.9% = effective stake in actual is only 22%. If top up again Yeoh direct stake, the effective stake increase to 32.92%.

However, Yeoh family is expect to control more than 75% YTLP WB and as much as 87% entitlement of ESOS share. If all warrant converted and ESOS exercise, Yeoh direct stake will increase to 12% + 8.7% + 32.92% = 53.62%.

Thus, if Yeoh family wanna to increase their effective stake to above 70%, YTLP need to buyback first 10%, cancel all + buyback second batch 10%, cancel all + buyback third batch 10% and cancel all again to boost its stake to 73%.

Posted by hng33 > 2013-10-22 14:03 | Report Abuse

The main reason Maybank research report rule out privatization now is that

'conditions not ripe for a share swap. YTLP has outperformed parent YTL Corp by 42% YTD, meaning a share swap at present would be more dilutive for the Yeoh family. A privitisation offer is hence unlikely in the near term. The swap ratio (YTL Corp / YTLP share price) is at its 18-month low, which means that YTL Corp is a better proposition for proponents of the privatization, in our view'

However, under my analysis, Yeoh family control effective stake in YTLP through YTL crop is only 22% (Yeoh family only control 49.11% in YTL crop, which control 44.9% in YTLP). Yeoh family have larger direct stake in YTLP through

1. Cornerstone Crest(Yeoh private control investment company): 6.35%
2. Yeoh and Son bhd: 3.73
3. Yeoh other family member: 0.74%
4. control more than 75% YTLP WB: 12%
5. 87% entitlement of ESOS share: 8.7%

Totaling direct stake is 31.52%.

Therefore, if privatization now, at higher ratio, example 1 YTLP: 1.5 YTL crop, it is in fact even dilution through Yeoh family indirect stake through YTL corp, but Yeoh gain more on its direct stake in YTLP

Posted by cgtan2020 > 2013-10-22 14:04 | Report Abuse

Hng33, explain more on "However, Yeoh family is expect to control more than 75% YTLP WB and as much as 87% entitlement of ESOS share. If all warrant converted and ESOS exercise, Yeoh direct stake will increase to 12% + 8.7% + 32.92% = 53.62%. " more details please

Posted by hng33 > 2013-10-22 14:16 | Report Abuse

cgtan2020

YTLP-WB if fully converted, enlarge YTLP share capital by 16%. YTL corp initially control more than 92% stake in YTLP-WB, but selloff both open market and off market, reduce stake to 66.74% and subsequently offer for sale for 20sen under 1 for 15 for YTL corp shareholder. All in all, i expect Yeoh family to engulf most of it and expect its stake now to as much as 75% in WB, which if fully converted, will increase Yeoh direct stake in YTLP by another 12%.


YTLP have ESOS, granted 10% of total capital to director. its first tranche ESOS exercise at RM 1.49 and second tranche exercise price at RM 1.65. Based on announcement in bursa, Yeoh family entitle 87% of these 2 tranche ESOS, with remaining offer to other independent director of YTLP.

Posted by cgtan2020 > 2013-10-22 14:19 | Report Abuse

hng33, kamsia!!!

Posted by smartly > 2013-10-22 14:55 | Report Abuse

10m now, another 8m to absorb all 18m new listings.

Posted by leek > 2013-10-22 15:03 | Report Abuse

hng33

Thanks for the awesome sharing.

Can't wait until they announce the privatization news! :)

Posted by smartly > 2013-10-22 15:51 | Report Abuse

engine start again.

Posted by hng33 > 2013-10-22 15:54 | Report Abuse

Now, keep absorb at 1.88 first

Posted by denver > 2013-10-22 15:56 | Report Abuse

hng, thanks for your sharing. Appreciate it

Posted by cgtan2020 > 2013-10-22 16:01 | Report Abuse

hng33, what are the chances of the privatization?

Posted by hng33 > 2013-10-22 16:01 | Report Abuse

With sharing and exchange information here, we all can improved investment skill and minimize risk.

Posted by smartly > 2013-10-22 16:02 | Report Abuse

epf shares disposed announcement started coming out. on 17/10 disposed 3.4m.

Posted by smartly > 2013-10-22 16:03 | Report Abuse

ytl at 1m disposed by epf.

Posted by leek > 2013-10-22 16:08 | Report Abuse

Anyone here also watching on ytlland and ytle?

Posted by hng33 > 2013-10-22 16:08 | Report Abuse

No surprise, EPF after dispose YTL corp, continue to resume disposal of YTLP. Just let EPF to selloff even better, as sbb keen to buyback more

Posted by smartly > 2013-10-22 16:13 | Report Abuse

sbb will eat upto 1.90 to fill today's quota.

Posted by hng33 > 2013-10-22 16:15 | Report Abuse

Ha, hope so...:)

Posted by smartly > 2013-10-22 16:20 | Report Abuse

12m now, still far from 18m.

Posted by smartly > 2013-10-22 16:39 | Report Abuse

last minute push to 1.90. :p

Posted by smartly > 2013-10-22 16:49 | Report Abuse

1.88 at best ?

Posted by hng33 > 2013-10-22 16:50 | Report Abuse

Closed down 1 sen, at 1.88, but WB up 1sen to 65sen. Narrowing gap to 2sen :)

Posted by smartly > 2013-10-22 16:51 | Report Abuse

mum -1c
son +1c

gap narrowed.

Posted by hng33 > 2013-10-22 16:54 | Report Abuse

Lets seller to give up their sell at 1.88

Posted by leek > 2013-10-22 16:55 | Report Abuse

Tomorrow rally?

Posted by hng33 > 2013-10-22 16:57 | Report Abuse

leek

YTLP sbb is slowly and steady, need to wait patiently

Posted by denver > 2013-10-22 16:57 | Report Abuse

mom and son looks good. Mom still maintained @1.88 despite 18M conversion. Son narrowed the gap with mom. If son managed to gain 1cent a day, that's around 20cents in a month :D