Posted by Kim > 2023-09-27 10:16 | Report Abuse

@Abcdefg123456789

So you means director salesa bad sign? Yes, it's bad actually. Director sales can be viewed as a sign of concern or lack of confidence in the company's future prospects. This could result in a decrease in the company's stock price and ultimately impact the overall financial health of the company. It seems reasonable to think that company directors have better insight than the rest of us into the performance and prospects of a business, and that they may be more willing to buy when they see a rosy outlook, and sell when the outlook is dim. In this case for EKO, company making loss but highlighten by Forest City Johor State project, may change the performance and future for this company. Thus, can we confirmed that director sales no intention for insider purpose like from left to right hands. So, from my 2c. It's can be 2 ways (Bad & Good). So far, EKO still good support and possible rebound at anytime.

FYI, I am decreased this EKO to MRCB and my top pick and more to GAMUDA from lastweek. Awaiting superb result from Gamuda and it will lead the construction theme nextweek.
My 2c.

Posted by Abcdefg123456789 > 2023-09-27 11:37 | Report Abuse

@Kim thanks for the reply

Posted by theyoungman > 2023-09-27 16:04 | Report Abuse

Dear Kim, that is a great explanation.

Posted by Shines > 2023-09-27 18:27 | Report Abuse

Rest tomorrow, see all on flyday

Posted by Fabien _the efficient capital allocator > 2023-09-27 19:24 | Report Abuse

– Tan Sri Lim Kang Hoo, in his personal capacity
as a major shareholder of Ekovest Berhad (Ekovest), Knusford Berhad (Knusford),
Iskandar Waterfront Holdings Sdn Bhd (IWH) and Iskandar Waterfront City Berhad
(IWCity), has today served a personal letter of proposals to convey his intention to undertake
a reorganisation, rationalisation and merger proposal involving these companies, for the
consideration of its board of directors. Ekovest owns approximately 62% in PLS Plantation
Berhad (PLS).
His proposal is intended to streamline, reorganise, rationalise and merge the businesses and
assets currently owned and controlled by himself and persons acting in concert, through the
various public listed and non-listed companies, as well as to consolidate his direct
shareholdings in the various companies.
The proposals will enable the enlarged Ekovest group to become one of the listed publicprivate-partnership conglomerates in Malaysia involves in construction, property development,
infrastructure, and plantation.

Posted by Fabien _the efficient capital allocator > 2023-09-27 19:38 | Report Abuse

The first proposal involves the proposed merger of the construction businesses of Ekovest and Knusford, whereby Knusford acquires the entire issued share capital of Ekovest
Construction Sdn Bhd - a wholly-owned subsidiary of Ekovest. The purchase consideration
payable by Knusford to Ekovest is proposed to be satisfied via the issuance of new ordinary
shares in Knusford at the proposed issue price of RM0.60 per new Knusford shares.
The Second proposal involves the proposed acquisition by Ekovest of 3 parcels of lands with
approximately 17 acres located in Johor Bahru, which are intended for potential two (2)
Transit-Oriented Development (TOD) along the alignment for the Johor Bahru–Singapore
Rapid Transit System Link. The purchase consideration payable by Ekovest to the vendors of
TOD 2 & TOD 3 is proposed to be satisfied via the combination of cash and the issuance of
new ordinary shares in Ekovest at the proposed issue price of RM0.60 per new Ekovest shares.
The third proposal is the proposed acquisition by Ekovest of at least 51% or more of the
issued share capital of Credence Resources Sdn Bhd (Credence), which presently holds
63.13% equity interest in IWH, which in turn holds 34.29% equity interest in IWCity. The
purchase consideration of payable by Ekovest to the vendors of Credence is proposed to be
satisfied via the issuance of new ordinary shares in Ekovest at the proposed issue price of
RM0.60 per new Ekovest shares.
The fourth proposal is the proposed merger of the properties and assets of IWH and IWCity
under a single entity through the acquisition by IWCity of the entire issued share capital of all
the existing direct subsidiaries of IWH. The purchase consideration payable by IWCity to IWH
is proposed to be satisfied via the issuance of new ordinary shares in IWCity to IWH at
proposed issue price of RM0.80 per new IWCity shares.

Posted by Fabien _the efficient capital allocator > 2023-09-27 19:45 | Report Abuse

The proposals will transform the enlarged Ekovest group into a listed public-private-partnership conglomerate in Malaysia, with interests in construction, property development, infrastructure, and plantations

Posted by RISK8888 > 2023-09-27 20:52 | Report Abuse

Wooi, so apa macam? Limit up?

Posted by theyoungman > 2023-09-27 21:12 | Report Abuse

RISK8888

Wooi, so apa macam? Limit up?

+1

Posted by soon9913 > 2023-09-27 21:30 | Report Abuse

Risk, good or bad news?

Posted by theyoungman > 2023-09-27 21:52 | Report Abuse

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=140732&name=EA_GA_ATTACHMENTS

PDF (a letter from Botak Lim to board of directors in the late evening of 27th Sep 2023.）

Posted by Kim > 2023-09-27 21:58 | Report Abuse

@theyoungman

EKO = The boss become strong and stronger.
Now the real game is started.
Friday is Flyday =) follow by GAMUDA lead the construction market!

Posted by RISK8888 > 2023-09-27 22:07 | Report Abuse

Soon9913, to me is good news. The proposal put ekovest at the top. All landbank value ultimately flow back to ekovest. 4000 arches of prime land in JB. The valuations is going to be crazy.

Posted by theyoungman > 2023-09-27 22:35 | Report Abuse

Now, after reading the PDF file, I guess I know why that disposal of 12mil shares + earlier disposal taken place!

So, 1589's Paragraph 8.03A - its regularisation issue will be covered by this "plan"! Botak Lim ah Botak Lim!

Posted by RISK8888 > 2023-09-27 22:45 | Report Abuse

So good news or bad news?

Posted by speakup > 2023-09-27 22:48 | Report Abuse

Shhhhh!

Posted by Abcdefg123456789 > 2023-09-27 22:50 | Report Abuse

@theyoungman why the disposal of share of director?
Appreciate if you can reply

Posted by theyoungman > 2023-09-27 22:52 | Report Abuse

Dear Kim, yes, flyday! I have just finished reading the PDF (love letter from the Botak to Bursa and Board of Directors) (in the late evening today). Nice one. No wonder 1589 was goreng up from 0.30 despite having the Para 8.03A prob :-( I missed 1589 due to the Para 8.03A which made me becoming conservative else... hmmmm.... Nvm.

Risk8888, good news. But mid-long term still handsome. Speculating earn less and have "Risk" too.

Posted by theyoungman > 2023-09-27 22:53 | Report Abuse

Oh, I just know that tomorrow is a PH in Malaysia. Hihihi. Botak really knows how to choose a day to announce such a big one.

Posted by Alwinb > 2023-09-27 23:22 | Report Abuse

The deal is unfair to Ekovest shareholder which valued below NTA of 0.89cts and way below its RNAV of more than 1.00 based on enterprise value of Duke highway concession compared to IWC valued close to NTA while IWH at consolidated net asset value as of Dec 2022. IWH is the main beneficiary of the deal

Posted by theyoungman > 2023-09-27 23:29 | Report Abuse

Dear Abcdefg123456789, my wild guess only. They are reducing their "indirect interest" in the company, increase the market float (one of the ways to release shares to the public shareholders so that the mkt vol could increase, or passing their shares to the public so that they invest in the co. - buy/hold).

In the PDF love letter, page#6

The Proposed Knusford-ECSB Merger exercise.

Pre-implementation:
a) EKO shall pay and settle all the o/s inter-co debts owing to Kunsford via the transfer of the entire issued and paid-up share capital of Ekovest Capital S/B
1. a shopping mall known as "EkoCheras Mall" with total net lettable area of approximately 613,957 sft in areas; and;
2. the entire issued and paid-up share capital of Duke Hotel S/B.

b) Knusford.... net assets per share of Knusford of RM0.60 per share as at 31 March 2023.

RM0.60. 8877 hit RM0.60 and retrace back to today around RM0.56

Page#7 said. Knusford to Ekovest or its nominee(s) (if any) a fixed issue price of RM0.60 per ordinary share in Knusford ("Proposed Knusford-ECSB Merger Consideration Shares").
The issue price had been arrived at and fixed based on Knusford's audited net assets per share s at 31 March 2023 after adjusted for the share split exercise.

Page#7, point #4. Post-implementation:....

There are more clues which we can have some wild guesses what Botak Lim is trying to do.

Not a bad activity to the company.

My 2 sen and may not be correct.

Oh ya, for IWCITY 1589, they public shareholdings, based on listing requirement, it must be 25% or more for public shareholders. In the PDF love letter which Botak Lim announced, the merger excise, may cause the public shareholdings become < 25%, Botak Lim will seek for "an exception" with Bursa to reduce the 25% to 15%? Hope I read the love letter correctly. This is ONE of the REASONS why I am always with 1589 instead of 8877 as 8877 is more fatty (2bil) vs 900mil the slim with less market float (big guys hold most of the shares!) Hence, 1589 is easier to PUSH up (from 0.3 to 0.8 like kacang putih).

Eyes tire liao, 19 pages love letter, and the PDF file is an image, the text inside there cannot copy and paste HA!

Love letter is here: https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=140732&name=EA_GA_ATTACHMENTS

Posted by Abcdefg123456789 > 2023-09-27 23:36 | Report Abuse

Thanks for the info much appreciate it

Posted by theyoungman > 2023-09-27 23:44 | Report Abuse

Dear Abcdefg123456789,
Mr. Kim is the man we need. He is very experience and well connected. He could share much more information with us at his convenience.
IMHO.

Posted by RISK8888 > 2023-09-28 07:04 | Report Abuse

They set ekovest price lower than NTA value to allow smooth transition. Others party will be more willing to accept the offers. And the potential of ekovest price to move up further will encourage them to take up the offer too. Smart move. Imagine when every thing set ready and ekovest start to develop those high value land. Land price might appreciate 10x and all of them will benefit from the development.

Posted by dompeilee > 2023-09-28 07:30 | Report Abuse

Being an owner of 16k shrs in Knusfor, I initially was shocked by the low issue price but on reading the FINE PRINT, left out of all the news portals' reports(perhaps deliberately???), saw these words: Knusford shall, UNDERTAKE A SHARE SPLIT EXERCISE, to arrive at an AUDITED NET ASSETS PER SHARE...of 60c per share as at 31 Mar '23...the proposed issue price for the...Merger...The issue price...FIXED BASED ON KNUSFORD'S AUDITED NET ASSETS PER SHARE as at 31 Mar '23 AFTER ADJUSTED for the SHARE SPLIT EXERCISE(of which figure is over 3X higher than the mkt price)

Also, in Eko's qtrly report, I gleaned that ECSB had a revenue of over $180mil & profit of $19 mil last qtr, which, based on Knusford's issued tickets, could potentially see an EPS of 45-76c pre-split & issuance.

Posted by wssvin > 2023-09-28 08:46 | Report Abuse

thanks the youngman

Posted by kingkong99 > 2023-09-28 09:44 | Report Abuse

Looking back from the interview in 2021, he(Tan Sri Lim Keng Cheng)and his uncle Kang Hoo — the executive chairman and single largest shareholder of Ekovest — are not seeing eye to eye.
https://theedgemalaysia.com/article/lim-keng-cheng-says-no-feud-ekovest-doubts-remain

Posted by Yu_and_Mee > 2023-09-28 10:28 | Report Abuse

All these corporate activities are just diluting the value. Goreng or not depends on big players.

Posted by Syndicates > 2023-09-28 11:23 | Report Abuse

ini botak kiam siap kui

Posted by Shines > 2023-09-28 11:31 | Report Abuse

See tomorrow, which Co. Have more benefits will up more else red

Posted by soon9913 > 2023-09-28 11:52 | Report Abuse

ekovest sell off its construction arm might face cash flow issue in future also.. it will be depend on dividend from the subsidiary companies

Posted by soon9913 > 2023-09-28 11:54 | Report Abuse

ekovest construction company holding all big contracts include Johor RTS.. something not right also after parked it under subsidiary listed company

Posted by soon9913 > 2023-09-28 11:55 | Report Abuse

personal see is a bad news to ekovest but good news for other listed companies as other listed companies are not profit making at all but will be consolidated under ekovest

Posted by soon9913 > 2023-09-28 11:59 | Report Abuse

as per the edge news, there is dispute between LKC and LKH

KC might be kicked out from the new management also

Posted by RISK8888 > 2023-09-28 13:07 | Report Abuse

Soon9913, big project is coming. Botak consolidate the group to prepare for the big move. Ekovest will benefit from the rising land price in iskandar area.

Posted by Bigbull99 > 2023-09-28 14:32 | Report Abuse

Yes, before this year end will announce Duke2A. Get really to burst through 80sens when news announce. Now Duke2A is currently in final stages of agreement with the gov. Good luck all holders!

Posted by Shines > 2023-09-28 15:29 | Report Abuse

Yes Duke 2A is the golden egg to be hatched

Posted by EVO118 > 2023-09-28 17:16 | Report Abuse

The way I see it, there must be a benefit for Botak to do this exercise. Release cash back to him as well as getting new shares from the various consolidation/merger or whatever exercise he choose to call it. To make head or tail of this you really need to unscamble what his brain is thinking. Maybe some of the major institutions with their professional analyst might give us an indication (good or bad) based on their own reactions. Don't forget that he had tried to do this exercise before with his stables of companies but didn't get it through.

Posted by mkmk > 2023-09-28 18:13 | Report Abuse

Budget will announce something… stay tune…

Posted by Shines > 2023-09-28 18:45 | Report Abuse

@EVO118 you are right, we need some analysis on the move by Lim

Posted by RISK8888 > 2023-09-28 20:57 | Report Abuse

Until you get the analysis done, share price also rocket to the top lor.

Posted by soon9913 > 2023-09-28 21:49 | Report Abuse

but selling off cash cow construction company in exchange for shares... where to cash flow in future?.. all their existing biz not much profit

Posted by bliss99 > 2023-09-28 23:23 | Report Abuse

don't forget, eko's too operations - Duke highways- is intouched.... real cash cow!

Posted by bliss99 > 2023-09-28 23:23 | Report Abuse

...toll ...

Posted by Kim > 2023-09-29 01:19 | Report Abuse

2 ways :

0.47 sen OR 0.63 sen

Old Man need the low price. My 2c fly up
Good luck 2morow =)

Posted by RISK8888 > 2023-09-29 07:49 | Report Abuse

Don’t look at current operation, the future is iskandar coming development. Govt is pushing for the special economy zone in JB. Expected to bring up the land price there. Ekovest setting is to streamline corporate structure, ready for big run in JB.

Posted by dompeilee > 2023-09-29 08:42 | Report Abuse

So close to the proposed issue price...limited upside potential

Posted by Bill_Fates > 2023-09-29 08:52 | Report Abuse

Even evergrande & country garden almost close shop..are u sure it will success?

Posted by cmiko888 > 2023-09-29 09:08 | Report Abuse

Seems like this news got no power :'(

Posted by Jonathan Keung > 2023-09-29 09:10 | Report Abuse

The announcement is positive for Botak Lim. Total control over his group operations & direction. A cash cow ATM for Botak