Posted by Endgame > 2021-12-28 12:12 | Report Abuse

Right here waiting...lol

Posted by Goh123 > 2022-01-02 22:42 | Report Abuse

vol come

Posted by AlfI3 > 2022-02-09 08:01 | Report Abuse

Long way more to reach 2nd qtr of 2022, whilst a lot of unprecedented happenings in geopolitical mkts & d worrying Omicron breakouts elsewhere

Posted by Johnzhang > 2022-02-09 10:54 | Report Abuse

@AlfI3, no worries lah . The geopolitical situation won’t get out of control . Omicron is a blessing in disguise. By 2nd qtr , economic environment and share market sentiment is likely to improve than to go worse . That’s my take.

Posted by Endgame > 2022-02-14 16:25 | Report Abuse

Wah...finally

Posted by Goh123 > 2022-02-16 19:04 | Report Abuse

finally sales ?

Posted by chkhooju > 2022-02-16 19:34 | Report Abuse

Talk cock only.

Posted by Goh123 > 2022-02-18 18:24 | Report Abuse

talk cock only 1

Posted by TheContrarian > 2022-02-18 19:18 | Report Abuse

Eh, what happened?

Posted by Johnzhang > 2022-02-18 19:28 | Report Abuse

@TheContrarian, don’t know what happened lah.
I am spending most of my time posting on plantation forums since many months ago .
In any case , the completion of Insurance disposal is definitely very near. I will just keep my patience for a little longer to see what next .

Posted by TheContrarian > 2022-02-18 19:45 | Report Abuse

@Johnzhang, congratulations on your gains on plantation counters. Hopefully there is good news on MphbCap soon.

Posted by Goh123 > 2022-02-18 20:41 | Report Abuse

2nd quarter. to complete ?

Posted by Goh123 > 2022-02-20 20:02 | Report Abuse

market rumours dividend give

Posted by Endgame > 2022-02-21 10:51 | Report Abuse

Wah...get ready...all in

Posted by TheContrarian > 2022-02-21 12:38 | Report Abuse

What's the rumours?

Posted by Goh123 > 2022-02-21 14:33 | Report Abuse

dividend

Posted by Goh123 > 2022-02-23 18:26 | Report Abuse

power. revenue 11mil but can earn 15mil

Posted by Johnzhang > 2022-02-23 21:14 | Report Abuse

Per financial report as at 31/12/2021, the insurance unit is classified as discontinuing operations..
Consequently, the balance sheet as at 31/12/21 reflects Asset held for sales of $2.906,942,000 and Liability held for sales of $1,741,895,000 . That's totally separating the insurance from the assets and liablities of the remaining business/subsidiaries.

To me the complete insurance disposal is a done deal. Everyone is free to draw your own conclusion at no charge . Hahaha.....

Posted by TheContrarian > 2022-02-23 21:38 | Report Abuse

Question is at what price will the 51% stake be sold?

Posted by Johnzhang > 2022-02-23 21:57 | Report Abuse

the 49% was sold for $356 mil + some $20 mil (?) adjustment too. That was based on 2.45X price to book ratio.

I guess the remaining 51% may be based on the same valuation basis. If it is indeed based on same 2.45X price to book ratio, the 51% will fetch substantially more as the insurance unit book value has also gone higher considerably with 7-8 years of retained earnings.

Posted by Goh123 > 2022-02-23 22:01 | Report Abuse

120mil ?

Posted by Goh123 > 2022-02-23 23:14 | Report Abuse

wow. rm1bil

Posted by TheContrarian > 2022-02-23 23:42 | Report Abuse

Damn, got it wrong. Total consideration for the insurance units to be purchased from MphbCap and Affin are around RM600 million.

Posted by Johnzhang > 2022-02-24 06:05 | Report Abuse

TheContrarian, total consideration is RM1.29 billion!

GENERALI SIGNS AGREEMENT IN MALAYSIA TO ACQUIRE MAJORITY STAKE IN AXA AFFIN JOINT VENTURES AND PLANS TO PURCHASE 100% OF MPI GENERALI
22 JUNE 2021 - 07:02

The transactions transform Generali’s activities in Malaysia to become the #2 P&C insurer in the country, in line with its strategy to strengthen its leadership position in high potential markets
Generali to increase its current 49% stake in MPI Generali Insurans Berhad to 100%
Generali to acquire a 70% stake in AXA Affin Life Insurance joint venture (49% from AXA and 21% from Affin) and approximately a 53% stake in AXA Affin General Insurance joint venture (49.99% from AXA and 3% from Affin and minorities)
AXA Affin General Insurance and MPI Generali to be merged following the acquisitions creating one of Malaysia’s leading general insurance operations, with Generali holding a 70% stake
Milan – Generali has signed an agreement in connection with the purchase of the majority of the shares held by AXA and Affin in the joint ventures, approximately 53% of AXA Affin General Insurance Berhad (49.99% from AXA and 3% from Affin and minorities) and AXA Affin Life Insurance Berhad (49% from AXA and 21% from Affin), respectively.
The Group also submitted an application to the local regulator in order to acquire the remaining shares of MPI Generali Insurans Berhad (MPI Generali) held by its Malaysian joint venture partner, Multi-Purpose Capital Holdings Berhad (MPHB Capital). The transactions are subject to the approval of the Malaysian Minister of Finance and the Central Bank of Malaysia.

The total consideration for the combined transactions is of RM 1,290 million (€ 262 million1) subject to closing adjustments.

Posted by Johnzhang > 2022-02-24 07:29 | Report Abuse

With the insurance unit being separated in the financial accounts, there is a bit more clarity on how much cash and liquid investment will MPHBcap possess post insurance sales..

Simple estimations from a layman like me as shown below :

Asset classified held for disposal $2,906942,000
Liabilities held for disposal ($1,703,465,000)
-----------------------------------------------------------------------
Nett $1,203,477,000

Less non-controlling interest ($646,158,000) ie Generali 49% portion
-------------------------------------------------------------------
Balance belong to MPHB $557,319,000

Plus disposal gain for the 51% sales $ 250,000,000
------------------------------------------------------------------------
(A) Total cash increase in MPHB coffer $807,000,000
=========================================

**Note : the disposal gain for the 49% in 2014 was $209 mil + adjustment of $20mil(?), Therefore i assigned est. disposal gain for the 51% at $250 mil.

Per account as at 31/12/2021, cash + liquid investment stands as below :

Receivable current (credit business) $128,000,000
Investment securities $289,000,000
cash $ 9,000,000
------------------------------------------------------------------------
(B) Total $426,000,000

To add (A) above $807,000,000
---------------------------------------------------------------------------
(A+B) Grand total $1,233,000,000

@715 mil shares = $1.72 per share !!! which is higher than MPHBcap share price of $1.36 .

Any professional accountant here can verify if my layman's calculation make sense ??

Posted by Teh Kieat Keoi > 2022-02-24 08:39 | Report Abuse

i think rm557,319,000 already included disposal gain rm250,000,000, no need repeat to plus up.

Posted by Johnzhang > 2022-02-24 09:36 | Report Abuse

Teh, pls share with us the rationale why you think so. To my understanding you can not book disposal gain until the transaction is concluded with payment received.

Posted by Teh Kieat Keoi > Feb 24, 2022 8:39 AM | Report Abuse

i think rm557,319,000 already included disposal gain rm250,000,000, no need repeat to plus up.

Posted by TheContrarian > 2022-02-24 10:35 | Report Abuse

@Johnzhang, I found out that out of the RM1.29 billion, around RM690 million goes to AXA, the balance around RM600 million to MphbCap and Affin.

Posted by TheContrarian > 2022-02-24 10:51 | Report Abuse

https://www.axa.com/en/press/press-releases/axa-to-sell-its-insurance-operations-in-malaysia

Posted by Johnzhang > 2022-02-24 11:35 | Report Abuse

@Contrarian, you are right. I looked at Axa/Affin as one unit.
Axa Affin General Insurance (AAGI) and Axa Affin Life Insurance (AALI) are about 50-50 owned by AXA and Affin respectively.
Assuming no other thing is involved, Affin may get about $275mil for divesting 20% stake in AAGI and AALI to Generali (Axa's $688 mil is for about 50% shareholding in AAGI and AALI).
Thus ,the theoretical consideration for MPI is $1,29 bil minus $688 mil minus $275 mil = $327 mil. This is lower than the 49% sold in a few years ago. Without further information , we are only guessing if Affin's portion is $275 mil. Affin's portion may be smaller then $275mil as they will be 30% owner of the enlarged/merged entity with Generali.

In any case, MPHBcap cash pile alone will be more than its present share price. No forgetting all the valuable landbank and property .

Hope to reap very good return in this share soon.

Posted by TheContrarian > 2022-02-24 15:13 | Report Abuse

@Johnzhang, Affin is only divesting 3% of AAGI and not 20% (together with 21% of AALI). I think the portion payable to Affin is much lower, estimated RM130 million by someone somewhere. This leaves around RM470 million for MphbCap but this figure could be based on 31/12/2020 balance sheet since the estimated consideration was announced in June 2021.

Posted by chkhooju > 2022-02-24 15:18 | Report Abuse

What is the fuss? Has the sale been approved by Bank Negara?

Posted by Johnzhang > 2022-02-24 17:01 | Report Abuse

TheContrarian, glad to see that you are on top of it. My memory is failing me .

Posted by Endgame > 2022-02-25 10:58 | Report Abuse

Wah...still talking..act only... hoot it

Posted by Goh123 > 2022-02-25 17:35 | Report Abuse

hoot. sell. hold...only

Posted by YouWin > 2022-03-10 12:53 | Report Abuse

Almost 9 months now since the application,I think bnm already sent it up to mof,now is waiting for mof approval

Posted by YouWin > 2022-03-10 12:55 | Report Abuse

Lazy people doing lazy slow job

Posted by Goh123 > 2022-03-10 17:07 | Report Abuse

waiting under table for mof. hahahaha

Posted by Endgame > 2022-03-11 13:40 | Report Abuse

Soon, anytime from now

Posted by YouWin > 2022-03-16 16:29 | Report Abuse

MoF approved 10k epf withdrawal in 1,2day, but still can't approve our insurance disposal, yikes

Posted by theong > 2022-03-16 18:51 | Report Abuse

Sure wish i can accumulate more

Posted by Goh123 > 2022-03-16 19:07 | Report Abuse

youwin. sell off la

Posted by YouWin > 2022-03-17 11:05 | Report Abuse

123 please sell, you bring bad luck to this stock and we are all suffering bcz of you.sad

Posted by Goh123 > 2022-03-18 19:04 | Report Abuse

i ord sell half ...for my holding...cant wait too long

Posted by Endgame > 2022-03-20 23:27 | Report Abuse

Ready to count down...

Posted by Goh123 > 2022-03-21 15:41 | Report Abuse

yes! count price going down

Posted by TheContrarian > 2022-03-23 18:53 | Report Abuse

How long have to wait?

Posted by Goh123 > 2022-03-23 18:56 | Report Abuse

thecontrarian. if u sell the price will up

Posted by Johnzhang > 2022-03-23 19:07 | Report Abuse

@TheContrarian, I hope Goh123 doesn’t mean you bring bad luck . Hahaha…

Posted by Goh123 > 7 minutes ago | Report Abuse

thecontrarian. if u sell the price will up

Posted by Endgame > 2022-03-23 19:19 | Report Abuse

Before Q3 or soon...