Posted by Victor Yong > 2020-11-11 15:18 | Report Abuse

Once the right for the ICPS is understood by investors, I rasa tak boleh dapat the right at current cheap price ~5.5sen

Posted by Victor Yong > 2020-11-11 15:21 | Report Abuse

2 parts of gains for the ICPS - dividend 5%++ = 2 to 3X bank FD rate + sunway share price appreciation on the 4th & 5th when 50% of ICPS will become sunway ordinary shares without further payment. Period!!!!


Dont throw away your rights for ICPS like garbage :) your money your wealth

Posted by Victor Yong > 2020-11-11 15:23 | Report Abuse

Also, ICPS will be traded till 5th year when the remaining 50% is converted into ordinary sunway shares without further payment needed.

What a deal!

Posted by freedomfund > 2020-11-11 15:25 | Report Abuse

I am checking with Bursa if this conversion from ICPS to ordinary mother share, need another payment or not. If need another payment, then this PR is vastly out-of-money ie pay RM2 vs current mother price of RM1.23

Posted by freedomfund > 2020-11-11 15:28 | Report Abuse

If need pay another RM1, then when listed this ICPS may trade below RM1 and has an expiry date of 4 to 5 years. Like a warrant with coupons. Who wants to buy a warrant expiring in 4-5 years with a downside of almost RM1 ?

Posted by Victor Yong > 2020-11-11 15:45 | Report Abuse

Sunway share price returns to RM1.3+ & the right for icps will return to 10sen ++ before the Rights cease trading on Nov 19 . Fingers crossed

Posted by Victor Yong > 2020-11-11 15:47 | Report Abuse

The icps should be loved by fund mgrs even institutional funds like epf. The dividend 5%++ like EPF too. EPF sapu a lot of sunway shares for the Rights before the cut-off date

Posted by Victor Yong > 2020-11-11 16:10 | Report Abuse

The volume for the right for icps surging now. With better understanding, investors will get it

Posted by Victor Yong > 2020-11-11 16:12 | Report Abuse

The icps is a good deal , first 1-3year get dividend 5%++, 4th & 5th year dapat 50% sunway shares without further Payment

Posted by Victor Yong > 2020-11-11 16:13 | Report Abuse

Also dapat peluang price appreciation for the icps sebab it will be traded on bursa till the icps fully converted into sunway ordinary shares tanpa further bayaran

Posted by Victor Yong > 2020-11-11 16:28 | Report Abuse

The price if the right for icps should recover in stages before the last trading day as more investors understand what is icps :)


Date Range Close Volume
10/11/2020 0.045 - 0.145 0.05 40,766,700
09/11/2020 0.14 - 0.255 0.15

Posted by Victor Yong > 2020-11-11 17:11 | Report Abuse

The Rights cessation quotation : 19 Nov 2020

5 trading days more :) those tak faham icps dah jual habis kot.

Wait n see :)

Posted by Victor Yong > 2020-11-11 17:48 | Report Abuse

ANALYSIS OF SHAREHOLDINGS AS AT 31 MARCH 2020
SUBSTANTIAL SHAREHOLDERS BASED ON REGISTER OF SUBSTANTIAL SHAREHOLDERS
Performance Review
Exemplary Leadership
Sustainability
33,540,600 0.68
29,060,812 0.59 28,893,591 0.59 27,010,773 0.55 26,807,968 0.55
25,822,745 0.53
25,191,740 0.51
21,652,267 0.44
20,738,040 0.42
19,790,860 0.40
17,771,730 0.36 17,540,673 0.36
1 Tan Sri Dato’ Seri Dr Jeffrey Cheah Fook Ling AO • Direct interest
• Deemed interest (a)
2 Puan Sri Datin Seri (Dr) Susan Cheah Seok Cheng • Deemed interest (b)
3 Sarena Cheah Yean Tih • Direct interest
• Deemed interest (c)
4 Evan Cheah Yean Shin • Direct interest
• Deemed interest (d)
5 Adrian Cheah Yean Sun • Deemed interest (d)
6 Sungei Way Corporation Sdn Bhd
7 Active Equity Sdn Bhd • Direct interest
• Deemed interest (e)
8 Employees Provident Fund Board
NOTES:
97,565,179 2,964,002,520
3,061,567,699
5,248,592 3,052,126,683
4,195,196 3,052,123,911
3,052,123,911 2,782,493,495
156,550,000 2,782,493,495
409,240,707
1.99 60.47
62.46
0.11 62.27
0.09 62.27
62.27 56.77
3.19 56.77
8.35
(a)
(b) (c)
(e)
Deemed interest by virtue of Section 8 of the Companies Act 2016 held through Active Equity Sdn Bhd, Sungei Way Corporation Sdn Bhd, Jef-San Enterprise Sdn Bhd and children.
Deemed interest held through spouse and children.
Deemed interest by virtue of Section 8 of the Companies Act 2016 held through Active Equity Sdn Bhd, Sungei Way Corporation Sdn Bhd, Jef-San Enterprise Sdn Bhd, spouse and parent.
Governance With Integrity
Financials
Shareholdings’ Information
Deemed interest by virtue of Section 8 of the Companies Act 2016 held through Active Equity Sdn Bhd, Sungei Way Deemed interest by virtue of Section 8 of the Companies Act 2016 held through Sungei Way Corporation Sdn Bhd.

Posted by Victor Yong > 2020-11-11 19:59 | Report Abuse

Kenanga Research believes that the construction theme would emerge once the current Covid-19 wave is brought to its heel, noting that it still sees the construction sector as one of the key sectors that the government can leverage on to expedite economic growth given the sector's high multiplier ripple effect.

"We make no changes to our call and TP (target price) and stick to our top picks being Gamuda (RM4.10), MRCB (75 sen) and @SunCon (RM2.45)," Kenanga Research wrote in a strategy report yesterday.

Note:
@Sunway Construction Group Bhd's (SunCon) unit Sunway Construction Sdn Bhd (SCSB) has been awarded two projects from indirect subsidiaries of its major shareholder Sunway Bhd, it announced in a bourse filing today.Sep 30, 2020
www.theedgemarkets.com › article
SunCon bags two jobs from Sunway, boosting total ...

Posted by memorylane > 2020-11-11 21:05 | Report Abuse

no cash needed during conversion. this one is mandatory auto conversion 50% on 4th year and 50% on 5th year... dividend wise is 5.25% it is not compulsory to give, but the nature of preference share is, if preference share dividend not fullfilled, ordinary share cannot pay a single cent dividend. so dividend wise it is more secured than mother share.

Posted by memorylane > 2020-11-11 21:18 | Report Abuse

the conversion details is here explain here -> https://klse.i3investor.com/blogs/kianweiaritcles/2020-08-01-story-h1511472945.jsp

Posted by Noni > 2020-11-11 21:22 | Report Abuse

5.25% dividend is not fixed. Implied only. Kind of misleading to say the dividend is at that range. Could be lower if Sunway not performing next 1-2yrs.

Also, not necessary at discount now after 4-5years. Mother share price can fluctuate higher or lower as well.

Posted by Victor Yong > 2020-11-11 22:03 | Report Abuse

Suncon under Sunway Berhad again :)

MIDF Research views that the continuation and reintroduction of mega public transport projects such as MRT3 and HSR will be a major upward rerating catalyst for the construction sector, which seems to have fallen off investors' radar.

West Malaysian megaprojects will help replenish the construction companies' order book, with Gamuda, SunCon and IJM Corp to benefit the most, MIDF commented.

Posted by Victor Yong > 2020-11-11 22:29 | Report Abuse

Looking at sunway share prices since 2018... the ICPS is a good deal, indicative dividend 5%+ and conversion into sunway ordinary shares 50% in 4th year and the balance in 5th year without further payment.



Date Price Open High Low Vol. Change %
Nov 20 1.230 1.350 1.350 1.230 4.08M -8.21%
Oct 20 1.340 1.380 1.400 1.330 50.40M -2.19%
Sep 20 1.370 1.400 1.450 1.350 59.06M -2.14%
Aug 20 1.400 1.360 1.420 1.280 63.75M 3.70%
Jul 20 1.350 1.380 1.470 1.350 84.32M -1.46%
Jun 20 1.370 1.370 1.520 1.350 150.03M 2.24%
May 20 1.340 1.560 1.620 1.340 105.30M -14.65%
Apr 20 1.570 1.550 1.660 1.530 73.55M 1.29%
Mar 20 1.550 1.750 1.780 1.250 135.85M -12.43%
Feb 20 1.770 1.780 1.830 1.730 86.91M -1.67%
Jan 20 1.800 1.800 1.870 1.750 54.57M 0.00%
Dec 19 1.800 1.760 1.830 1.740 55.05M 2.27%
Nov 19 1.760 1.700 1.840 1.690 56.08M 3.53%
Oct 19 1.700 1.700 1.720 1.670 93.31M -0.18%
Sep 19 1.703 1.614 1.723 1.594 60.82M 4.22%
Aug 19 1.634 1.644 1.653 1.535 75.78M -0.61%
Jul 19 1.644 1.673 1.683 1.624 87.87M -1.14%
Jun 19 1.663 1.673 1.703 1.634 77.13M -0.60%
May 19 1.673 1.653 1.693 1.564 65.25M 1.21%
Apr 19 1.653 1.653 1.703 1.644 67.81M 0.36%
Mar 19 1.647 1.608 1.686 1.588 44.91M 3.72%
Feb 19 1.588 1.588 1.657 1.520 26.32M 0.00%
Jan 19 1.588 1.431 1.617 1.421 44.24M 10.20%
Dec 18 1.441 1.441 1.461 1.333 28.80M 0.70%

Posted by serendipity89 > 2020-11-11 22:46 | Report Abuse

just join the icps game. bought some PR. i need to subcribe before 19th nov or 26th nov ya? so far still cant see any sunway on TIIH

Posted by Victor Yong > 2020-11-12 00:34 | Report Abuse

Investment bank staff will call u or u call them as soon as possible. Confirm it. Safety sake :)
@@@
erendipity89 just join the icps game. bought some PR. i need to subcribe before 19th nov or 26th nov ya? so far still cant see any sunway on TIIH

Posted by AlfI3 > 2020-11-12 01:15 | Report Abuse

So many uncertained versions of whether need additional $ to convert into mother shares & whether got fixed dividen will cause investors prefer to sell off those PR instead of subscribing it

Posted by kimmy888 > 2020-11-12 02:01 | Report Abuse

what will happen if i continue to hold sunway-pr after 26th november if i dont subscribe or sell them? will they disappear?

Posted by Victor Yong > 2020-11-12 08:09 | Report Abuse

Arbitrage profit for those who sell mother share and buy rights for conversion into ICPS probably :)

Posted by wonderkid969 > 2020-11-12 08:49 | Report Abuse

Just a knowledge sharing in bahasa...

hope this will helps to expand our knowledge in preference share..link as below

https://www.majalahlabur.com/saham/apa-itu-preference-shares-dan-apa-bezanya-dengan-saham-biasa-ordinary-shares/

Regards,
Wonderkid969

Posted by tayhb11 > 2020-11-12 09:04 | Report Abuse

what will happen if i continue to hold sunway-pr after 26th november if i dont subscribe or sell them? will they disappear?

*********************************

Same question.. Do we need to take any action? Or the sunway-pr will automatically converted to pref shares on 27th and we need to do is just to make sure we have sufficient fund in the account?

Posted by wonderkid969 > 2020-11-12 09:13 | Report Abuse

This is additional knowledge also from cgs when i ask them about Sunway -PR

1. What is the stock type?
Sunway PR It is a rights issue. A rights issue is an invitation by the listed company to investors buy additional shares. It is an optional subscription. You may subscribe to convert the rights for more shares, usually at lower price than the market price. Read more about rights issue here: https://www.investopedia.com/investing/understanding-rights-issues/

2.What is the syariah status
It is not a long term listed stock. It is available for the duration to process the conversion from rights to mother shares. Hence it is not audited by the Shariah Advisory Board. But since this rights issue will be converted to mother shares, we advise you to compare against mother shares status,

3. Can i sell the stocks as normal? Is there any impact before/after selling?
You can sell the Sunway PR, same way you sell other stocks. It is availabl to trade until 18 Nov 2020. The only impact of selling this is, once sold, you surrender your rights to subscribe for more shares.
However, please note that this is a Preference Rights (PR), if they are subscribed, you will received preferred shares.

You may read more about the announcement on Bursa website:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3099168
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3098580
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3098580
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3098582

Posted by kimmy888 > 2020-11-12 11:56 | Report Abuse

after 18th november, no more trading of sunway-pr... then will i be forced to subscribe all the sunway-pr that i hold into icps? or all the sunway-pr i hold will become obsolete if i dont do anything after 18th november?

Posted by Jian Bin Siew > 2020-11-12 13:05 | Report Abuse

After 18 of Nov, the Sunway PR will appear in TIIH 2 days after 18 of Nov. Then u can subscribe over there or through traditional method which is using pos that I feel is not safe as CMCO may prolong your postage time.

Posted by Jian Bin Siew > 2020-11-12 13:07 | Report Abuse

Unless you hold Sunway at the beginning then PR already appear in TIIH.

Posted by hornbill > 2020-11-12 13:19 | Report Abuse

No official statement from sunway Ipoh landslide incident?

Posted by bobboh > 2020-11-12 13:40 | Report Abuse

Are sunway ICPS benefit is same with mother shares if i subscribe

Posted by memorylane > 2020-11-12 17:13 | Report Abuse

Nope... ICPS has priority over mother share in term of dividend. mother share cannot pay dividend if the ICPS 5.25% dividend is not fullfill... in term of bankruptcy, Bond will get money first, follow by ICPS, then only mother share. This ICPS have auto conversion of 50% to mother share on 4th year and 50% on 5th year...after 5th year, they are the same.

Posted by tayhb11 > 2020-11-12 17:51 | Report Abuse

Guys just an update and sharing, i think you need to subscribe the pref share in your trading app under something like corporate action. I have just done mine this afternoon as i dont think there are other choices...

Posted by kimmy888 > 2020-11-12 21:18 | Report Abuse

mine is under corporate action too (rakuten trade app). need to add rm1 to subscribe for each pr stock. i bought 20k units of pr but can only subscribe 5k units of pr with rm5k (not enough bullets). i think i need to sell the remaining 15k units of pr before 18th november or else they will expire n gone

Posted by memorylane > 2020-11-12 22:33 | Report Abuse

kimmy888, your additional 20k units auto-appear in corporate action after you bought additional PR units? it take how long to appear in rakuten corporate action?

Posted by memorylane > 2020-11-12 22:38 | Report Abuse

because i also bought additional units of PR, but those units not yet appear in Rakuten corporate action for subscription yet...

Posted by flyingtomoon2020 > 2020-11-12 22:40 | Report Abuse

Sunway gogogo

Posted by flyingtomoon2020 > 2020-11-12 22:40 |

Post removed.Why?

Posted by kimmy888 > 2020-11-12 23:01 | Report Abuse

memorylane, around 2-3 days after u bought the pr

Posted by Jason85 > 2020-11-12 23:39 | Report Abuse

But why sunway can drop to 1.2x

Posted by AlfI3 > 2020-11-13 08:10 | Report Abuse

Ttl num of PR for subscriptn is 1 bil. Wonder this gigantic figure cud b fulfilled by share holders at this poor economy environmn

Posted by memorylane > 2020-11-13 08:44 | Report Abuse

kimmy888, it auto appear after 2-3 days or you need to email request customer service to make it appear in Corporate action? thanks for the sharing..

Posted by kimmy888 > 2020-11-13 10:16 | Report Abuse

mine is auto appear. i think u can directly message rakuten on their website if u still cant see the corporate action yet although i think calling them on the phone is the fastest response u can get

Posted by memorylane > 2020-11-13 11:27 | Report Abuse

thanks for the sharing!

Posted by serendipity89 > 2020-11-13 15:23 | Report Abuse

Just called up trico. For those who have bought the PR shares via open market without owning any ordinary share, the entitlement to subscribe for the preference share will only available on TIIH for esubcription from 20th onwards (ie after the PR stopped it's trading)

Posted by serendipity89 > 2020-11-13 16:52 | Report Abuse

Anyone knows when is the listing date for the icps?

Posted by memorylane > 2020-11-13 22:14 | Report Abuse

SUNWAY BERHAD

Entitlement subject： Important Relevant Dates for Renounceable Rights
Description： RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,112,777,962 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES ("ICPS") IN SUNWAY BERHAD ("SUNWAY") AT AN ISSUE PRICE OF RM1.00 PER ICPS ON THE BASIS OF ONE ICPS FOR EVERY FIVE EXISTING ORDINARY SHARES IN SUNWAY HELD BY THE ENTITLED SHAREHOLDERS AT 5.00 P.M. ON 6 NOVEMBER 2020 ("RIGHTS ISSUE OF ICPS")
Despatch Date： 10 Nov 2020
Date for commencement of trading of rights： 09 Nov 2020
Date for cessation of trading of rights： 19 Nov 2020
Date for announcement of final subscription result and basis of allotment of excess Rights Securities ：02 Dec 2020

Last date and time for :
Sale of provisional allotment of rights： 18 Nov 2020 05:00 PM
Transfer of provisional allotment of rights： 20 Nov 2020 04:30 PM
Acceptance and Payment： 26 Nov 2020 05:00 PM
Excess share application and payment： 26 Nov 2020 05:00 PM
Available/Listing Date： 08 Dec 2020

Posted by memorylane > 2020-11-14 10:02 | Report Abuse

Jian Bin, for TIIH is for individual account. For me and kimmy, we are using Rakuten nominee account, Rakuten will handle everything for us for free... but deadline will be much earlier...

closing price of 1st day normally will following the mother share price , with few cents lesser is my guess...

Posted by mbge7clt > 2020-11-14 10:06 | Report Abuse

is it worth to subscribe?