let kub drop more to 0.50 sen. i doubt it will... lon time to go. i heard the company going back to plantation. i doubt ho there going to do it. oil palm plantation going forward is not that great with the esg concern... and also the landbank that kub have is peak area which require more investment in infrastructure and not worth to do it. the only people gain is the contractor who do it....
So, is there a reason for that abnormal increase in turnover volume, as well as unusual 0.05c increase in share price? A hugh white candle with a solid body. Can't seem to find any recent news release.
ci HOLDINGS - Deemed interest through Du Ain Sdn Bhd, Duclos Sdn Bhd, Syed Ibrahim Sdn Bhd, Leasing Corporation Sdn Bhd, Sisma Water Technology Sdn Bhd and Continental Theme Sdn Bhd.
Those companies acquiring the shares are linked to the late Syed Ibrahim, Sisma grp. Datuk J acquired KUB at 0.68.Looks like KUB has long way to go la.
PETALING JAYA: Former Finance Minister II Datuk Seri Johari Abdul Ghani is the new major shareholder of KUB Malaysia Bhd by virtue of his vehicle JAG Capital Holdings Sdn Bhd.
JAG Capital had emerged as the largest shareholder in KUB with a 31.99% stake after buying the block at a large premium last Friday.
A check with the Companies Commission of Malaysia showed that the shareholders of JAG are Johari and his wife Zurwati Haslinda Zainal Bahry. Johari owns 99.99% of the shares in JAG Capital.
A filing with Bursa Malaysia yesterday showed that JAG Capital had bought 178.06 million shares from Anchorscape Sdn Bhd via a direct business transaction (DBT).
The shares crossed at 68 sen, which was a large premium of 28.5 sen above the previous day’s closing price of 39.5 sen.
This means that Johari forked out some RM121.08mil for the stake. As of Dec 31, 2018, KUB had cash of RM92.83mil.
When contacted by StarBiz, Johari said that he was buying the stake for his private investment.
“I am buying for future value. I will assist the current board to revamp KUB if necessary,” he said.
Meanwhile, the large off-market trade saw KUB’s shares climbing early yesterday.
The counter rose 5.5 sen to close at 45 sen on a volume of 23.73 million shares.
Anchorscape still has 112.3 million shares or a 20.1% stake in the company following the DBT.
Johari is no stranger to the corporate world, as he had previously been the group managing director of CI Holdings Bhd for more than 12 years until July 2015 when he was appointed to the Cabinet.
At present, Johari is CI Holdings’ biggest shareholder with an indirect stake of 32.72%, also held through JAG Capital.
KUB has been a target of potential suitors for awhile now.
In early January, its share price jumped close to 70 sen when its major shareholder Anchorscape was approached by several parties interested in acquiring the stake.
One of them was carpet dealer Deepak Jaikishan, who first emerged as a substantial shareholder in KUB on Jan 9 after acquiring 32.23 million shares or a 5.79% equity interest in the company.
Nonetheless, it was perhaps just a trade for the carpet dealer, as by Jan 18, Deepak had ceased to be a substantial shareholder.
The first major shareholding change in KUB happened in mid-2017, when Anchorscape surfaced as the controlling shareholder with a 22.55% stake. This came about after it had exercised a call option to buy out the Ministry of Finance Inc from KUB.
Anchorscape also took over the KUB shares held by Gaya Edisi Sdn Bhd, which has a 29.62% stake in KUB.
Anchorscape is a wholly owned unit of Gaya Edisi.
Financially, KUB’s performance is not stellar. It posted net losses of RM20.56mil in the fourth quarter ended Dec 31, 2018 compared with a net profit of RM15.29mil a year earlier.
For the full year, it posted a net profit of RM1.17mil compared with a net profit of RM32.95mil in financial year 2017. Its net tangible asset per share was 57 sen.
JAG Capital acquired 178.07 million shares or a 31.99% interest in KUB from Anchorscape Sdn Bhd last Friday in a deal valued at RM121.09 million or 68 sen a share, a 28.5 sen premium from the 39.5 sen closing price.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
strattegist
23,459 posts
Posted by strattegist > 2021-10-01 18:35 | Report Abuse
red 0.615