Posted by Jonathan Keung > 2023-10-28 09:42 | Report Abuse

Everything is on hold. AGM is on 15 December . interested party { Botak} will abstain from voting. resolution will be put to vote by his kaki

Posted by Plantermen > 2023-10-28 09:58 | Report Abuse

One of the merger terms HOA stated ekovest will issued a total of additional 1.15 billion shares to privately held Credence {CRSB} for thier 70%stake in the company. The 3 shareholders of CRSB is Lim Kang Ho {90%}, Keng Cheng {5%} and the remaining 5% to Lim Hoe. CRSB presently hold 63%,in privately held IWH which holds a 34% interest in public listed IW City. Sounds complicated

Posted by kingkong99 > 2023-10-28 10:08 | Report Abuse

https://theedgemalaysia.com/node/687984
Ekovest enters into agreements with Knusford, Lim, Credence Resources for proposed group business consolidation

Posted by Realrich > 2023-10-28 13:37 | Report Abuse

Yes agree with you is very complicated. Knutsford shareholder will be rejected because current Knutsford share price is 0.845 but issues 0.60 Knutsford share to buy the ekovest construction sdn bhd. That's is beneficial to ekovest but Knutsford shareholder become lugi 0.245

Posted by Realrich > 2023-10-28 13:45 | Report Abuse

Botak don't have the voting right because of conflict of interest highly rejected by others subsidiary shareholder the deal is unfair to them. Ekovest shareholder also will rejected to diluted their shareholding for issue new share to buy danga city mall is a shopping not a residential. The shopping also no people go

Posted by Zazzyy > 2023-10-28 14:31 | Report Abuse

go lose more money you will know

Posted by Realrich > 2023-10-28 14:44 | Report Abuse

I think the proposal will rejected because is unfair Knutsford buy ekovest share with premium 0.12 but ekovest buy Knutsford share with discount 0.245. Knutsford lugi banyak the listed company will not agree this type of lugi

Posted by Shines > 2023-10-28 14:46 | Report Abuse

@ realrich is to take over knusfor, iwcity... at an agreed price to be paid with ekovest shares base at 60 sen a share

Posted by jay2004 > 2023-10-28 15:13 | Report Abuse

To make it fair, Ekovest shares should push up to more than 0.60 in this few weeks.

Posted by mkmk > 2023-10-28 15:52 | Report Abuse

Weird, if rugi to knusford shareholders how come knusford price goes up after announcement on 27 Sep ya? @Realrich

Posted by Realrich > 2023-10-28 17:24 | Report Abuse

This is not the 100% take over knusfor if you read carefully is knusfor issue new share 0.60 to buy ekovest construction sdn bhd.

Posted by Realrich > 2023-10-28 17:30 | Report Abuse

Mkmk market always base on rumours cooking, when the proposal come out 27 sep we don't know the detail indeed just go to push the share price. But now we understand more the fact is Knutsford issue below market value 0.60 share to offer discounts to ekovest 0.245. That is already told you you will diluted existing shareholder. This deal is totally unfair to Knutsford

Posted by Realrich > 2023-10-28 17:35 | Report Abuse

Jay2004 ekovest share price is drop during 27 sep because ekovest will share more losses of Iwcity and Knutsford %. We can know that 2023 financial year ekovest is making 109 million losess. If we take more share of Iwcity and Knutsford ekovest losses become more and more 2023 until 2026 the share will drop below 0.35. If ekovest buy profitable company that is good news but now is buy big losses company and Iwcity is pn17 their equity is negative and ekovest is buy huge debts company

Posted by Realrich > 2023-10-28 19:15 | Report Abuse

Botak is just hold 18% share of ekovest, I think 82% other shareholder will not keen to share big debts of Iwcity and debt high interest of Iwcity you will going to cry

Posted by trader808 > 2023-10-28 21:26 | Report Abuse

Correction, IWCity is not a PN17 company.

Posted by trader808 > 2023-10-28 21:41 | Report Abuse

IWcity has shareholders' equity of 737.4m
The company has 1.36b in current assets and current liabilities of only 308m.
It NTA is Rm0.8 and share price 62.5sen
With these numbers it will take eternity to plunge the company into pn17

Posted by trader808 > 2023-10-28 22:20 | Report Abuse

1.On page 17 of the proposal there is an organization chart that clearly indicates Tan Sri current shareholdings in Ekovest is 33% and not 18%

2. Post completion of the corporate exercise as shown on page 18, Tan Sri will have 51% of Ekovest.
3.With the proposal that entails the reorganization, rationalization and merger of ECSB and Knusford , IWB IWCITY ,Tan Sri has apparently consolidated all his investment into the conglomerate status of new Ekovest.

4. To make it simple and without analyzing any further the massively complex and Tan Sri mega proposal to monetize the assets,just follow the rich and smart where he put his money.
5 Following the announcement on 27th Oct and establishment of a legally binding agreement with respective companies, One may want to take a chance with calculated risk on Ekovest.
6. I do not presently have any share in Ekovest but this could change in the days/ weeks to come.
6. Happy trading
28/10/23

Posted by Realrich > 2023-10-28 22:22 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3393335

Posted by Realrich > 2023-10-28 22:23 | Report Abuse

Iwcity Need to submit regulation plan is not pn17? Are you sure

Posted by Realrich > 2023-10-28 22:29 | Report Abuse

https://finance.yahoo.com/news/insiders-own-26-ekovest-berhad-075330925.html

Posted by Realrich > 2023-10-28 22:33 | Report Abuse

Trader88 don't play play yesterday yahoo finance stated Lim share holding is 18%. In the statement say that institute is not interest in ekovest share is because their financial performance is bad

Posted by Realrich > 2023-10-28 22:52 | Report Abuse

Trader88 please go and read the announcement :
The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of IWCity and to de-list the Company in the event:

Posted by RISK8888 > 2023-10-28 23:04 | Report Abuse

Trader 808, u hit the point. Ultimate holding ekovest is the goal.

Posted by RISK8888 > 2023-10-28 23:04 | Report Abuse

Coming years will be very huat!!!!

Posted by trader808 > 2023-10-28 23:10 | Report Abuse

.IWCITY is affected by paragraph 8.03A of the main market listing requirement.
This is different from PN 17 which means a company has accumulated losses with shareholders' equity less than 25% of capital.
IWCity has 734m in equity.

Extract from the bursa announcement
On 17 March 2022 and 22 March 2022 respectively, the Company received emails from Bursa Malaysia Securities Berhad (“Bursa Securities”) referring to the announcement made by the Company on the latest quarterly report on consolidated results for the financial year ended 31 December 2021 (“Q4/2021 Results”) which has requested the Company to perform an immediate assessment and reassessment respectively on whether IWCity had triggered Paragraph 8.03A of the Main Market Listing Requirement of Bursa Securities (“MMLR”), in particular Paragraph 8.03A (7)(b)(i), and ensure compliance in relation thereto where necessary (“Bursa Requests”).

Posted by Realrich > 2023-10-28 23:11 | Report Abuse

Ultimate goal can not achieve because majority shareholder is rejected. Iwcity too high risk anytime to delisted furthermore Knutsford shareholder will rejected their share price is 0.845 why need to merge by ekovest? With a discount price 0.245. Institution also not interested in ekovest share I think because whole group all is running losses.

Posted by Realrich > 2023-10-28 23:16 | Report Abuse

Read the announcement iwcity is postponed postponed and SC next due date is 24 mar 2024 not submitted regulation plan Bursa Securities’ right to proceed to suspend the trading of the listed securities of IWCity and to de-list the Company

Posted by RISK8888 > 2023-10-29 06:52 | Report Abuse

Aiyo, why worry. The timing is so right this time. SPE is ready, now ekovest is about the take up new task. Johor big plan is about to start. Economy hub and financial hub. All queuing one by one. Singapore effect is confirm coming into JB. Just waiting them to finalise the terms, Johor Agong will be the pushing factor. Thing will happen very fast. By mid 2024, everything will be onboard, act now or you will miss the boat.

Posted by mkmk > 2023-10-29 10:12 | Report Abuse

@Realrich, 27 Sept announcement out isnt that already know 60 sen? So y after 27 Sept the price of knusford up? Shouldnt the shareholders throw it since issue price at 60 sen only? I dont know ur rationale coz it seems like no matter how u say it is contradicting applying to knusford case or ekovest case… just wait la… if u didnt hold or no plan to buy, dont bother so much la…

Posted by mkmk > 2023-10-29 10:19 | Report Abuse

https://www.bursamalaysia.com/bm/trade/trading_resources/listing_directory/pn17_and_gn3_companies

List of PN17 companies as at 6 Oct 2023…. Trader808 is correct, iwcity isnt in PN17 list…

Posted by RISK8888 > 2023-10-29 11:06 | Report Abuse

Iwcity kena warn saja, belum lagi pn17 la. Aiyo u ppl sendiri takut sendiri

Posted by Realrich > 2023-10-29 11:13 | Report Abuse

Mkmk Im holding ekovest share I'm worry to share more losess

Posted by Realrich > 2023-10-29 11:16 | Report Abuse

Iwcity maybe worse some pn17 start have revenue and profit but Iwcity how many years a huge losses never stop, and SC already need iwcity submit regulation plan if not going delisted. Read the announcement whatever he is 803A the end result is delisted anytime

Posted by Realrich > 2023-10-29 11:20 | Report Abuse

Risk888 i want to ask you ekovest buy waterfront mall and danga city mall all is shopping mall and not residential but issue share buy the making losses shopping mall. Do you think shopping mall can sale to Singaporean?

Posted by mkmk > 2023-10-29 11:26 | Report Abuse

If scare then just sell la…. If not yet pn17 dont say it is pn17…

Posted by Realrich > 2023-10-29 11:27 | Report Abuse

Mkmk you go to read 27 sep proposal not stated Knutsford issue 60 cents share to buy ekovest construction sdn bhd 500+ million cash consideration. Do you think ekovest construction sdn bhd worth 500+million? Furthermore how you think Knutsford shareholder accept issue share 60 cents to buy a making losses construction company? This is just a proposal to agree to discuss not a legal binding agreement confirm to buy or sale

Posted by Realrich > 2023-10-29 11:28 | Report Abuse

Mkmk Im long term investment not the goreng up and down do I'm reading and research all the time I will rejected the deal I don't want share more losses

Posted by mkmk > 2023-10-29 11:29 | Report Abuse

Tml go up 10 sen kasi u confident la realrich…

Posted by mkmk > 2023-10-29 11:29 | Report Abuse

Not confident dont buy dont hold… simple…

Posted by mkmk > 2023-10-29 11:30 | Report Abuse

U dont know either ok… haizzz…

Posted by Realrich > 2023-10-29 11:35 | Report Abuse

Go up and down is no different to me if really share more losses of Iwcity and Knutsford 2023 to 2026 ekovest long term will go down to below 0.35. I will cry

Posted by yhling > 2023-10-29 12:57 | Report Abuse

I personally believe some parts of the proposed merger between Knusford and ECSB is quite complicated. With reference to Proposed Letter dated 27 September 2023, Appendix 1--Indicative Salient Terms for the proposed Knusford-ECSB Merger , item (b)-- Knusford ........shall undertake a share split exercise involving the subdivision of the ordinary shares of Knusford to arrive at an audited assets per share of Knusford of RM 0,60 as at 31 March 2023,of which will be the proposed issue price for the proposed merger consideration shares.
According to their financial report,NA of Knusford as at 31 March 2023 is RM 2.20 per share.In order to make it RM 0.60 per share, the shares should be split at the proportion of 1 into 3.66,which also means the total number of shares of the company will be increased by 3.66 times.We know whenever there is a split or bonus issue, the number of shares in our hands will be increased and the price per share will be adjusted downward accordingly. ASSUMING the closing price of this company's shares is RM 0.845 right before "x", then the adjusted price on the "x" date will be (0.845 divided by 3.66 ) RM 0.23 . Then do you think this is undervalued as compared to NA of RM 0.60 ? Then any potential for this share price to move upwards ?
To all my respectful "sifus", is my interpretation of the above correct ?

Posted by Realrich > 2023-10-29 13:49 | Report Abuse

If base on your calculations no wonder ekovest share drop during 23 sep because ekovest buy 0.60 Knutsford share expensive because Knutsford share price is only worth 0.23 lol. I will rejected too.

Posted by miniminer > 2023-10-29 15:56 | Report Abuse

List DUKE first la, EPF can make good $$ from the DUKE listing so the EKOVEST retail share holders. ......hehehe.........

Posted by mkmk > 2023-10-29 16:07 | Report Abuse

Faster sell…. No need worry…

Posted by trader808 > 2023-10-29 18:49 | Report Abuse

1. The proposal by Tan Sri entailed the reorganization, rationalization, merger of ECSB-Knusford, the acquisition by Ekovest of Credence a major shareholders of IWB and IWCity that own large plot of prime land in strategic locations at the Iskandar region with huge gross developmental value.
2.One of the proposals involves the merger of Knusford - ESCB a subsidiary of Ekovest Bhd.
ESCB is the construction outfit of Ekovest and it owns various properties, malls and hotels.
3.The value of ESCB has been fixed at a willing buyer willing selling basis at Rm450m and not 500m+. In addition, it will not involve cash payment but via a share swap. No cash involve the proposal entailed.
4.Ekovest has agreed in the binding agreement to accept an equivalent of Rm450m value in the numbers of new shares in Knusford for the merger. The price of share consideration has been fixed and mutually agreed at 60 sen

5. Prior to the Merger, Knusford will undertake a share split of 2 shares for 1 existing share and a bonus issue simultaneously. Thereafter, upon the completion of shares split and bonus, the merger will than proceed.
6. Knusford has 99m issued shares capital. Say 100m. It has NTA net tangible assets per share of Rm2.16

7. Because Knusford is a loss making company, it is inappropriate to value knusford base on earning multiple. Hence they relied on the value of NTA and aim at capitalizing its value through a split plus a bonus issue to the extend that the enlarged capital will arrive at a NTA per share of 60 sen.

8 Knusford now has 100m shares and a 2 for 1 split would enlarge the issued share capital to 200m and NTA reduce to Rm1.08. It is the intention of the company to enlarge the share capital to the extend that the NTA is 60sen or equal to the consideration shares
9.Hence the total number of share can be calculated as follows. That is 200m x1.08 divided by 0.6 is 360m shares. After the split it has 200m shares and after capitalization on NTA the maximum possible share enlargement is 360m.

10. Therefore the bonus shares can be as much as 160m bonus shares. So they can possibly announce a ratio 160 : 200 or 4 bonus for 5 existing shares.

11. Next kunsford will buy ECSB by issuing new shares. For the sake of discussion let us just use the last friday closing price of 84sen. Therefore, the number of new considering share to be issued to Ekovest Bhd will be 450m x 0.6 divided by 0.84 is 321m of knusford shares.

12 The total enlarged shares capital will be 360m + 321m = 681m

13. I believe the share split and bonus shares could improve market perception, liquidity and volume and generate positive buying interest for knusford.

14. This is my personal perception of the counter and the effect of its proposal.
I am not an expert and I analyse for personal enjoyment. I could be completely wrong. So take it with a pinch of salt and reserve any criticism.
Happy trading
29/10/23

Posted by Realrich > 2023-10-29 20:11 | Report Abuse

Look like issue new share to diluted existing shareholder and share split the market value will drop and buy the making huge losses construction company will share more losess 2023 to 2026. Furthermore buy the iwcity waterfront mall and danga city mall with high price is very bad decisions this two mall one is( iwcity mall) empty people go no single lot open and danga city mall now is a IT city sale IT product no people go also. Issue new share who going to buy the new share? All institution is not interest in ekovest share because all group making big losses every year.
Kunsford is merge with construction sdn bhd and the value is too high to buy a sdn bhd making losses every year. Knutsford issue share should somebody buy their new share if not how they can convert to money paid to ekovest construction sdn bhd? Totally the deal is very bad no institution will buy the deal

Posted by FrankKY > 2023-10-29 20:15 | Report Abuse

From the corporate proposal we can see botak want have bigger slice on ekovest... why? i belived he should be looking at auto cash generator from Duke highway....
I will not favour on ekovest dispose it's construction units to kunsford.

Posted by RISK8888 > 2023-10-29 20:18 | Report Abuse

https://www.channelnewsasia.com/asia/malaysia-singapore-leaders-retreat-anwar-lee-hsien-loong-3877801?cid=internal_sharetool_androidphone_29102023_cna

Posted by RISK8888 > 2023-10-29 20:21 | Report Abuse

Look at the news, next week both country leader will meet up and I believe alot of thing will be firm up. Don’t trouble analysing how the corporate restructuring will be carry out. The important thing is the future is extremely good for ekovest. Don’t miss the chance guys!