Posted by elunmask8 > 2022-05-11 14:01 | Report Abuse

TtreeInvestor....it is logical that if one gets the 2.21.....likely he will sapu all the shares in the market if it is still lingering at 10 sen after ex price....as against a cash per share of roughly 60 sen......9 months down the line. These are solid cash woh and not a piece of assets that needs to do a fair value valuation.

Posted by TtreeInvestor > 2022-05-11 14:10 | Report Abuse

TheContrarian, you can read the announcement it mentioned 75% not simple majorityy

Posted by TtreeInvestor > 2022-05-11 14:12 | Report Abuse

Page 24 of announcement

10.1 Proposed Disposal
Based on the Disposal Consideration, the highest percentage ratio applicable to the Proposed
Disposal pursuant to Paragraph 10.02(g) of the Listing Requirements exceeds 100%.
The Proposed Disposal is subject to the following approvals being obtained:
(i) at least 75% of the total number of issued shares held by shareholders of SCGM
present and voting either in person or by proxy at an EGM to be convened as the
Proposed Disposal is deemed a major disposal; and
(ii) any other relevant authorities and/or parties, if required.
The Transfer of Properties does not required approval of the shareholders of SCGM.

Posted by TheContrarian > 2022-05-11 14:37 | Report Abuse

If 75% approval required then there's no certainty disposal will be approved.

Posted by TtreeInvestor > 2022-05-11 14:42 | Report Abuse

Thats why increase stake by controlling shareholders is important:
1) Increase more stake (the share price now still benefit to them, no additional costs need to be sacrificed) will enable them to have more vote to say Yes
2) Increase other minority shareholders confidence that the controlling shareholders wont abandom them and for those bought above RM3.00 one also no need worry, because they will ensure good assets/business to be injected into the vehicle

Posted by TtreeInvestor > 2022-05-11 14:42 | Report Abuse

But looks like they are not doing so yet.

Posted by elunmask8 > 2022-05-11 14:57 | Report Abuse

Ya....75% of those present in EGM. As this is not a related party transaction, the major shareholder can vote.

Posted by elunmask8 > 2022-05-11 15:00 | Report Abuse

Honestly not many ikan bilis minority shareholders would turn up and even if they turn up....why would they vote against a good proposal

Posted by wbuffet2 > 2022-05-11 16:54 | Report Abuse

I see value in this proposition....just added more into my portfolio today. Just look at the volume done today...it cannot be wrong! Happy investing!

Posted by terence775 > 2022-05-12 11:31 | Report Abuse

I wrote in depth about the corporate action and what happens next. For those interested, can pm me to read my full sharing.

i3 doesn't let me post it here

Posted by stockraider > 2022-05-12 12:07 | Report Abuse

The takeover is base on the price of Rm 2.83 loh!

U ask yourself which is better loh ?

Litrak v Scgm leh ?

Posted by wbuffet2 > 2022-05-12 13:06 | Report Abuse

There is a difference between selling Scgm @ 2.83 v selling business @ 2.83.

I am sure the listing status of Scgm is worth a sizeable amount and this itself is not factored into the cash that Scgm holds post the dividend payment

Posted by metroview > 2022-05-13 09:04 | Report Abuse

possible to 2.00 ?

Posted by wbuffet2 > 2022-05-13 15:50 | Report Abuse

metroview....u sell to me loh at 2.00.....hahaha.

I collect 2.21 within 9 months and still keep my shares for another wave after the dividend payout

Posted by SumiTomo > 2022-05-13 16:10 | Report Abuse

Start selling?

Posted by TtreeInvestor > 2022-05-20 17:11 | Report Abuse

Waiting share price of 2.20

Posted by Just88 > 2022-05-22 21:25 | Report Abuse

Proposed Special Dividend
The Board proposes to declare and pay part of the Disposal Consideration as a special cash
dividend to shareholders whose names appear in the Company’s Record of Depositors on an
entitlement date to be determined by the Board later (“Proposed Special Dividend”). The
Proposed Special Dividend will be implemented upon the approvals as set out in Section 10.2
below is obtained.
As at the LPD, the tentative amount proposed to be distributed as special cash dividend to the
entitled shareholders will be approximately RM1.85 per SCGM Share which amount to
approximately RM356.24 million. The actual amount to be distributed will be determined and
announced at a later stage. SCGM’s shareholders should note that the amount of distribution
mentioned is a preliminary estimate and should not be deemed as the final distributable amount.
The quantum of special cash dividend to be declared is dependent on the availability of
sufficient distributable profits and the Company being in a position to comply with the provisions
of Section 131 of the Act as at the date of declaration of the proposed dividend.

Posted by Just88 > 2022-05-22 21:25 | Report Abuse

"the amount of distribution mentioned is a preliminary estimate and should not be deemed as the final distributable amount."

Posted by TheContrarian > 2022-05-22 22:28 | Report Abuse

I don't have any shares in SCGM, never bought any before but in view of the low market price, I am considering to buy into SCGM. Can anyone give possible reasons why market price fell and remained low after the proposed disposal and generous distribution of disposal proceeds to shareholders?

Posted by TtreeInvestor > 2022-05-23 09:16 | Report Abuse

Orang makan already loh.

Posted by TtreeInvestor > 2022-05-23 09:17 | Report Abuse

buy sell not much, easy to push up

Posted by TtreeInvestor > 2022-05-23 14:41 | Report Abuse

Today Owners acquiring their own company shares?

Posted by TtreeInvestor > 2022-05-23 15:18 | Report Abuse

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%E6%88%90%E5%80%92%E7%BD%AE%E6%94%B6%E8%B4%AD%E7%9B%AE%E6%A0%87-scgm%E6%88%96%E8%BD%AC%E6%94%BB%E7%94%B5%E5%8A%A8%E8%BD%A6%E4%B8%9A

Posted by terence775 > 2022-05-23 15:20 | Report Abuse

I wrote in depth about the corporate action and what happens next; I'm following closely the developments for SCGM... For those interested, can pm me to read my full sharing.

i3 doesn't let me post it here

Posted by firehawk > 2022-05-23 16:04 | Report Abuse

after one week .... today investors find that it is worth to buy?

Posted by TtreeInvestor > 2022-05-23 16:18 | Report Abuse

@Firehawk, no, today market rumoured SCGM going to enter New Energy Vehicle and got many potential takers approaching for the SCGM vehicle.

Posted by TtreeInvestor > 2022-05-25 08:46 | Report Abuse

Frankly speaking, if the after disposal NTA is 2.80 (net cash). Plus the vehicle price of RM0.10-0.20.

Minus 15% discount - then the current fairvalue should be RM2.50+-

Posted by TtreeInvestor > 2022-05-25 08:47 | Report Abuse

to subsequent buyers, 10-15% arbitrage profit (after approved) also consider attractive to them if the trnasaction done within 6-12 months

Posted by thesteward > 2022-05-25 11:28 | Report Abuse

Terrence not sure how to pm you . Would appreciate the sharing Txs

Posted by terence775 > 2022-05-26 12:26 | Report Abuse

you can just click my name and then click the green chat icon beside it

Posted by Wei Hong > 2022-06-01 09:34 | Report Abuse

when is the EGM？

Posted by Just88 > 2022-06-03 15:15 | Report Abuse

Any possibility that the deal be called off ?

Posted by Wei Hong > 2022-06-08 09:09 | Report Abuse

boss also sell d haha

Posted by TtreeInvestor > 2022-06-08 11:46 | Report Abuse

why substantial shareholder selling his stake?

Posted by AlfI3 > 2022-06-09 06:40 | Report Abuse

@Wee Hong, is it d good timing for substantial S/Hs to take profit & exit at this juncture?

Posted by Wei Hong > 2022-06-09 08:06 | Report Abuse

scgm IPO RM0.78 so he sell now already profit and they want to sell off their main business, in future duno got business or not. maybe for him is the good timing?

Posted by Wei Hong > 2022-06-09 08:56 | Report Abuse

since when i become a consultant? lol juz sharing my 5 cent view.

Posted by Just88 > 2022-06-13 11:12 | Report Abuse

any chance of the deal cancelled ?

Posted by Wei Hong > 2022-06-14 08:35 | Report Abuse

thats why director keep selling?

Posted by TtreeInvestor > 2022-06-14 11:59 | Report Abuse

Looks like Brothers not in good terms. Otherwise why one of the brother selling the shares while their disposal per share is 2.83?

Posted by looiting > 2022-06-15 14:20 | Report Abuse

Those TYY and WA2U followers already trapped since $ 3.20. Kesian

Posted by Wei Hong > 2022-06-16 09:40 | Report Abuse

how u know they trap since 3.2? maybe they awal2 sell lo

Posted by Wei Hong > 2022-06-16 09:41 | Report Abuse

now one of the directors also selling better buy other stocks and market is really bad

Posted by looiting > 2022-06-16 10:53 | Report Abuse

Can see on volume analysis

Posted by Just88 > 2022-06-18 17:19 | Report Abuse

That selling brother is no longer a director. He resigned in Jan due to health issue.

Posted by TtreeInvestor > 2022-06-30 17:19 | Report Abuse

So this brother why not wait until EGM? Just curious the transaction already near to EGM, but the brother selling shares continuously, so have doubt whether he will vote in favour or against?

Posted by Just88 > 2022-06-30 23:01 | Report Abuse

Since he is selling out, it should be in his best interest to see the deal through.

Posted by wbuffet2 > 2022-07-01 12:09 | Report Abuse

Don't worry, I shall fully support the resolution at EGM and see the deal through. As time passes, I am nearer to collecting my fat bonus.

Posted by wbuffet2 > 2022-07-01 13:23 | Report Abuse

Meanwhile, I enjoy the quarterly dividend first. Not many counters in Bursa today, can pay dividends every quarter! Look at SCGM record....28 straight uninterrupted quarters.... paying since 31 July 2015. Many thanks to the Board.

Posted by Just88 > 2022-07-14 19:20 | Report Abuse

It has been more than 2 months already. Why still haven't submit the disposal to bursa ?