Posted by face > 2018-01-08 21:47 | Report Abuse

December 8, 2017
KOTA KINABALU: Former banker Tan Sri Rashid Hussain is increasing his investment in Priceworth International Berhad, taking up part of a private placement by the integrated timber group.

Priceworth today said Rashid and a local institutional fund are the placees for the private placement of 28.8 million new shares, at 22.5 sen each.

Rashid has taken up 15 million shares, or just over half of the placement, while the local fund has taken the remaining 13.8 million shares, said Priceworth executive director Richard Koo.

In March 2017, Rashid subscribed for 46 million shares as part of an enlarged special issue while his wife Puan Sri Emilahani Yang Mohd Yatim subscribed for 25.88 million shares.

Priceworth is acquiring the 88,820-ha Forest Management Unit No 5 (FMU5) in Sabah’s Trus Madi forest reserve with rights to manage, replant and harvest the area for the next 80 years. Priceworth has proposed to acquire FMU5 for RM260 million through its Singapore subsidiary GSR Pte Ltd, from vendor Transkripsi Pintar Sdn Bhd.

A Singapore Exchange-listing is being planned for GSR, which has also proposed to acquire sister company Sinora Sdn Bhd, which is Priceworth’s plywood manufacturing arm.

In September 2017, Priceworth began harvesting two compartments in FMU5 following approval from the Sabah Forestry Department.

In November, FMU5 was valued at RM448.9 million by an independent valuer, following the Sabah Forestry Department’s approval of the third Forest Management Plan (FMP) for the ten-year period from 2017 to 2027. This fresh valuation is higher than the previous one of RM390 million, as well as purchase price of RM260 million.

The company also announced it secured a cash option which could reduce the purchase price to RM230 million, following a variation agreement with the vendor. The cash option could lower its cost of investment in FMU5, and may enable the group to recoup its investment earlier than anticipated.

https://www.nst.com.my/business/2017/12/312480/rashid-hussain-takes-part-priceworth-private-placement

Posted by VenFx > 2018-01-08 23:06 | Report Abuse

Lau333,
I always impressed from your details observation.

SALUTE BRO :)

Posted by VenFx > 2018-01-08 23:11 | Report Abuse

In this BULL market ,
i find Pworth can march more than your guestimate fair price.

Your conservative in valuation always made me feel comfortably, same with your earlier brought up for Hibiscus

Posted by azta12 > 2018-01-09 08:31 | Report Abuse

good morning.

Posted by winwin2288 > 2018-01-09 09:44 | Report Abuse

bought some at 0.295

Posted by winwin2288 > 2018-01-09 09:55 | Report Abuse

hahaha just bought then rebound. so good

Posted by winwin2288 > 2018-01-09 09:58 | Report Abuse

very strong !

Posted by winwin2288 > 2018-01-09 10:01 | Report Abuse

makan makan makan

Posted by Secret > 2018-01-09 10:08 | Report Abuse

Bought some at 0.315

Posted by winwin2288 > 2018-01-09 10:11 | Report Abuse

hope can cross 0.33 this afternoon

Posted by winwin2288 > 2018-01-09 10:12 | Report Abuse

buy before too late

Posted by azta12 > 2018-01-09 10:13 | Report Abuse

hentam lagi.

Posted by Secret > 2018-01-09 10:14 | Report Abuse

Let rock to 0.35!

Posted by azta12 > 2018-01-09 10:18 | Report Abuse

kayuh.

Posted by ginger9038 > 2018-01-09 10:19 | Report Abuse

irl 33 sen... tp 40sen - 45 sen

Posted by Darren > 2018-01-09 10:39 | Report Abuse

so far on this profit taking day, pworth & hibiscus are the strongest amount active counter.

Posted by lilyhery7973 > 2018-01-09 11:31 | Report Abuse

terus terbang tinggi PWORTH...come on...break 0.33 tu

Posted by winwin2288 > 2018-01-09 11:37 | Report Abuse

yeah~~~~ !

Posted by winwin2288 > 2018-01-09 11:43 | Report Abuse

once break 0.33 fly to the sky

Posted by deddymines > 2018-01-09 12:16 | Report Abuse

very big block at 33c. need to pass that first

Posted by poorinvestor > 2018-01-09 13:32 | Report Abuse

Let’s break the 0.33 !

Posted by azta12 > 2018-01-09 14:43 | Report Abuse

hentam lagi..

Posted by cybergreen > 2018-01-09 14:57 | Report Abuse

Gogogo pworth, after hebe and unwog, all money can transfer to pworth. Hold and enjoys the ride

Posted by winwin2288 > 2018-01-09 17:01 | Report Abuse

big shark is collecting, check it out tomorrow, very interesting

Posted by Icon8888 > 2018-01-09 18:16 | Report Abuse

https://klse.i3investor.com/blogs/icon8888/143710.jsp

Posted by Lau333 > 2018-01-09 19:22 | Report Abuse

@VenFx, thank for your feedback. My journey in investment taught me many things. One of them is that investing is less about being correct than to simply make a profit out of our investment. That said, I prefer to be surprised on the upside and hence the conservatism.
The adage of "let the profit runs and cut the losses" can never be more apt here.

Posted by Lau333 > 2018-01-09 19:26 | Report Abuse

A hat tip to Icon8888 for sharing the insight on PWORTH.

Posted by VenFx > 2018-01-09 20:12 | Report Abuse

Lau333,
may Pworth the Unicorn born on the Land Under The Wind.

Posted by VenFx > 2018-01-09 20:16 | Report Abuse

Sabah were once a golden log (premium hardwoid timber) that attract most Hongkie and Taiwanese set up their downstream base in Sabah land.
Would that glory days come again ?

Posted by Lau333 > 2018-01-09 21:45 | Report Abuse

Unicorn is valued over 1 billion dollar. You have big faith!

Posted by Darren > 2018-01-10 09:21 | Report Abuse

seller still strong........

Posted by poorinvestor > 2018-01-10 09:51 | Report Abuse

Strong Block in front

Posted by winwin2288 > 2018-01-10 11:11 | Report Abuse

so quiet ?

Posted by stainlyho37 > 2018-01-10 11:35 | Report Abuse

Just look into the log production...Monthly log production Oct~Nov17....highest in the year , may hit more than 20% compare to before Q.....

Posted by stainlyho37 > 2018-01-10 11:38 | Report Abuse

valuation is more than 0.50~0.70.....just watch out after lunch time !!!

Posted by winwin2288 > 2018-01-10 11:57 | Report Abuse

i added 0.305

Posted by Spiderman88 > 2018-01-10 14:42 | Report Abuse

Look like they keep on selling.....

Posted by SAPNRG TP $1.69 (ilovehits) > 2018-01-10 16:41 | Report Abuse

Buy a bit test water first.

Posted by winwin2288 > 2018-01-10 16:47 | Report Abuse

hope tomorrow turn green...

Posted by moaz72 > 2018-01-10 19:26 | Report Abuse

Force seling

Posted by Susu99 > 2018-01-11 07:47 | Report Abuse

I sold some yesterday ..hope to buy back today at lower price

Posted by poorinvestor > 2018-01-11 08:06 | Report Abuse

Hope a green for today !

Posted by winwin2288 > 2018-01-11 09:31 | Report Abuse

decided to hold, believe price will be above 0.40

Posted by stainlyho37 > 2018-01-11 10:00 | Report Abuse

Pworth
Q to Q log Output
K cu/m
30/9/2016 16.8
31/12/2016 21
31/3/2017 29
30/6/2017 28
30/9/2017 32
31/11/17 33

Posted by stainlyho37 > 2018-01-11 10:02 | Report Abuse

log output gradually increased Q to Q....lat last 33 k cu/m only 2 months result..!!

Posted by lilyhery7973 > 2018-01-11 12:12 | Report Abuse

hari ni kasi pecah itu 0.33...

Posted by stainlyho37 > 2018-01-11 12:23 | Report Abuse

time to collect some again.....!!

Posted by azta12 > 2018-01-11 13:08 | Report Abuse

otw..man2..rggt strenghtening now to 3.985

Posted by poorinvestor > 2018-01-11 13:15 | Report Abuse

Hold it tight. It’s good counter, just the market is under profit taking situation

Posted by winwin2288 > 2018-01-11 15:39 | Report Abuse

consider stable during this profit taking period. good sign