nampak macam: tidak adil kepada pemegang saham syf.. paling manfaat ialah insas dan mieco. insas subscribe pada harga 14 sen, murah. syf segment furniture jual pada harga 50 million, sangat murah. insas dan mieco untung, syf rugi
$SYF / 7082 (SYF RESOURCES BERHAD) $INSAS / 3379 (INSAS BERHAD) $M&A Securities Sdn Bhd
What is happening in these 3 companies ?
Story Breakdown.
1. M&A Securities Sdn Bhd is a brokerage firm, a wholly-owned subsidiary of INSAS.
2. INSAS is a substantial shareholder in SYF with 8.8% stake currently.
3. INSAS to inject M&A into SYF for a blackdoor listing on Main Marker for M&A via SYF. This listing is important for M&A Group to raise its own equity and debt funding requirement through capital market which is separated from INSAS, as well as to expand its customer base, retain and attract new employees from financial services industry.
4. INSAS will dispose 100% stake in M&A and buy into SYF.
5. M&A Securities Sdn Bhd will then change name to M&A Capital Bhd.
6. INSAS stake in SYF will increase from current 8.8% to 75.9% which emerge as new controlling shareholder in SYF.
7. By doing this, INSAS will transform SYF into financial services group from current furniture manufacturing business.
8. SYF will then dispose its rubberwood furniture manufacturing arm and two parcels of land for RM71.2mil cash.
9. SYF will undertake a special dividend 7sen and capital repayment 11sen, total of 18sen special dividend cum capital repayment to its shareholder, entitlement date to be determined later.
10. SYF net asset value per share will be 15sen after the proposed disposal and special dividend cum capital repayment.
11. Lastly, SYF proposed 1-to-2 right issues at 14sen/shares to raise RM39.8mil.
Hope this breakdone can help readers to digest and for investors who looked into SYF furniture manufacturing business, time to study again their new business.
They value SYF at 15 Cts after capital repayment of 11 Cts and dividend of 7 Cts Then right issue 1for 2 at 14 Cts Anything below 32 Cts is a good buy Just my thought only
The proposal still needs to go through the authorities. In the meantime, opportunistic investors could swoop in and hodl the shares to squeeze for a better offer, could they not?
Copy from pg.58 of the proposal, M & A Securities financial results for the past 4 years. Looked like more stable than the SYF existing business (which occasionally reports loss) (Copy from pdf file, alignment not easy be done, read accordingly (vertical block).
FYE 30 June 2018(RM’000) FYE 30 June 2019 FYE 30 June 2020 FYE 30 June 2021
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MichelleNg
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Posted by MichelleNg > 2021-10-06 22:37 | Report Abuse
Limit up??? Become elephant penny company. Tomorrow limit down just nice 14cents.