AHB Holdings hit a high of 27 sen on Tuesday, the best since April 2007, before pausing for a breather. Technically, prices are expected to consolidate due to growing overbought reason but investors can consider accumulating more on weakness, as other indicators remain bullish. Stronger support and heavy resistance are resting at the 20-sen mark and 36.5 sen-40 sen band respectively.
Home 30 Aug 2014 Local World Business Sports AHB aims to be the biggest in five years Posted on 12 August 2014 - 05:37am Lee Weng Khuen sunbiz@thesundaily.com
Yong fielding questions from the press while Dr Folk Jee Yoong, Director of AHB Holdings Bhd looks on. NORMAN HIU/ theSun KUALA LUMPUR: AHB Holdings Bhd, which is expected to exit its Practice Note 1 (PN1) status by next month, targets to be the largest premium office furniture player in Malaysia in five years' time.
"The (premium office furniture) market has at least five players, we want a significant part among the five (players)…Malaysia is leading exporter of the office furniture market, (so) we don't look at the local market alone, but it's a nice market to look at," CEO-cum-managing director Yong Yoke Keong told a media briefing here yesterday.
He projects that the size of the premium office furniture industry could be worth RM200 million annually.
AHB, which is looking at growing its presence in India by setting up a representative office, has more than 25 export markets in different regions, making up about 85% of its total revenue.
The group triggered the PN1 criteria in August 2013 when it defaulted on a RM3 million payment.
It is due to settle this amount by the RM21 million it hopes to raise through a rights issue which was approved by shareholders last month.
"We have learnt our lesson and tend to keep our balance sheet very strong," he said, adding that the firm will hold a net cash of RM5 million to RM10 million after cleaning up its debts.
Operation-wise, the office furniture firm has started making profits in the current financial year, posting a net profit of RM605,000 for the nine-month ended March 31, 2014, a 20-fold jump from the RM30,000 it made for the same period the year before.
It made a net loss of RM8.86 million for the financial year ended June 30, 2013.
It is also notable that AHB still had accumulated losses of RM29.94 million as of March 31, 2014, but he said the issue will only be addressed at a later time.
Yong also said that the firm is on the lookout for acquisition opportunities, whereby it is already in talks with its foreign counterparts especially in Southeast Asia, but stressed that any acquisitions must be synergistic and generate high profits.
"The market is fragmented…We're always thinking (about) how to consolidate the market…but it's too early to make any statement on it, it's just a preliminary (talk), this acquisition will not be within this near future," Yong said.
Datuk Tiong Kwing Hee, the largest shareholder of AHB, through Dexx Technologies Sdn Bhd, holds a 19.43% stake, while Yong has 14.47% equity interest.
AHB also expects to build a furniture plant in Port Klang area next year to cater to the growing demand in the office furnish industry, besides having an assembly and quality control plant in Seri Kembangan at the moment.
Build another factory somewhere in the east coast. Would contribute something to ECER, while making for easier shipments of products to markets in North East Asia.
Somewhere early in 2014, 2,500,000 AHB warrants were transacted in the open market at 15sen. Subsequently they were converted to mother shares at 20sen. This represents about 5% paid up capital of AHB at the cost of 35sen. I thought it was an interesting observation. Why pay 35sen per share when market price was circa 20sen? Fill in the blanks and you may have an interesting investment.
ragha.. playing share mkt will always ada ups and downs.. it's just a matter when to enter or when to run.. as for me, i believe in this counter because so many hot news coming this week:- 1) Sept - expected to exit PN1 2) Good quarter profir 3) 5 sept - rights n warrants to be traded in the open mkt at the price of 0.35 subscibtion price
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING AHB HOLDINGS BERHAD (“AHB” OR THE “COMPANY”) RENOUNCEABLE RIGHTS ISSUE OF UP TO 106,690,796 NEW ORDINARY SHARES OF RM0.20 EACH IN AHB (“AHB SHARES”) (“RIGHTS SHARES”) ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY ONE (1) EXISTING AHB SHARE HELD AS AT 5.00 P.M. ON 7 AUGUST 2014 AT AN ISSUE PRICE OF RM0.20 PER RIGHTS SHARE, TOGETHER WITH UP TO 71,127,197 FREE DETACHABLE NEW WARRANTS (“NEW WARRANTS”) ON THE BASIS OF TWO (2) NEW WARRANTS FOR EVERY THREE (3) RIGHTS SHARES SUBSCRIBED FOR (“RIGHTS ISSUE OF SHARES WITH WARRANTS”)
AHB HOLDINGS BERHAD
Type Announcement Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING Description AHB HOLDINGS BERHAD (“AHB” OR THE “COMPANY”)
RENOUNCEABLE RIGHTS ISSUE OF UP TO 106,690,796 NEW ORDINARY SHARES OF RM0.20 EACH IN AHB (“AHB SHARES”) (“RIGHTS SHARES”) ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY ONE (1) EXISTING AHB SHARE HELD AS AT 5.00 P.M. ON 7 AUGUST 2014 AT AN ISSUE PRICE OF RM0.20 PER RIGHTS SHARE, TOGETHER WITH UP TO 71,127,197 FREE DETACHABLE NEW WARRANTS (“NEW WARRANTS”) ON THE BASIS OF TWO (2) NEW WARRANTS FOR EVERY THREE (3) RIGHTS SHARES SUBSCRIBED FOR (“RIGHTS ISSUE OF SHARES WITH WARRANTS”)
We refer to the announcements made on 29 October 2013, 15 November 2013, 6 June 2014, 13 June 2014, 30 June 2014, 1 July 2014, 16 July 2014, 22 July 2014 and 7 August 2014 in relation to the Rights Issue of Shares with Warrants (collectively referred to as “Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
On behalf of the Board, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue of Shares with Warrants at 5.00 p.m. on 22 August 2014 (“Closing Date”), the total valid acceptances and excess applications received for the Rights Issue of Shares with Warrants was 162,002,624 Rights Shares with New Warrants, representing approximately 151.84% of the Rights Shares with New Warrants available for acceptances under the Rights Issue of Shares with Warrants, which represents an over-subscription rate of 51.84%.
The details of valid acceptances and excess applications received as at the Closing Date are as follows:
No. of Rights Shares with New Warrants Percentage of total Rights Shares with New Warrants available for acceptance (%) Total valid acceptances 99,956,064 93.69 Total valid excess applications 62,046,560 58.15 Total valid acceptances and excess applications 162,002,624 151.84 Total Rights Shares with New Warrants available for subscription 106,690,796 100.00 Over-subscription 55,311,828 51.84
The Board has applied the following basis in allocating the excess Rights Shares with New Warrants, in accordance with the Abridged Prospectus dated 7 August 2014:
firstly, to minimise the incidence of odd lots;
secondly, on the pro-rata basis to the Entitled Shareholders who have applied for the excess Rights Shares with New Warrants, taking into consideration their respective shareholdings in the Company as at the Entitlement Date on a board lot basis;
thirdly, on a pro-rata basis to the Entitlement Shareholders who have applied for excess Rights Shares with New Warrants, taking into consideration the quantum of their respective excess application; and
lastly, on a pro-rata basis to the transferees and/or renounces who have applied for excess Rights Shares with New Warrants, taking into consideration the quantum of their respective excess application.
The Rights Shares with New Warrants are expected to be listed and quoted on the Main Market of Bursa Securities on 5 September 2014.
This announcement is dated 29 August 2014.
Announcement Info Company Name AHB HOLDINGS BERHAD Stock Name AHB Date Announced 29 Aug 2014 Category General Announcement Reference No OS-140828-35489
Will this counter be uplifted from PN1 as well on 5th September? Just like IDEAL, it was uplifted from PN17 on the same day the rights share listed. Then it is really a boarding time now!
i can see the light already.. the price slowly starts to push up. Dont care on the little volumes since not many discovered the gems rest in this counter.. :)
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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....
ibull
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Posted by ibull > 2014-08-28 12:18 | Report Abuse
30/10/2013 old data..... confirmed 160.036mil shares issued.