Posted by Johnzhang > 2022-05-17 07:04 | Report Abuse

aliyusof, as I am traveling outside Malaysia I have not read the Edge. What’s the gist in the paper?

Posted by speakup > 2022-05-17 09:33 | Report Abuse

very good news also cannot up. dunno what to say already. speechless!

Posted by speakup > 2022-05-17 10:55 | Report Abuse

everything moving up but mphbcap stuck @ 1.50

Posted by chkhooju > 2022-05-17 11:02 | Report Abuse

I prefer it to be slow and steady. Be patient. If certainly will not disappoint us. Do have faith.

Posted by Johnzhang > 2022-05-17 12:43 | Report Abuse

Though it is an old writeup, it is still relevant to understand the political battle trying to control MPHB. Shareholders should know a bit of this background.

http://lib.perdana.org.my/PLF/News_Online/2017/00105/MalaysiaToday%5B5October2016%5DMAHATHIR%E2%80%99S%20MULTI-BILLION%20RINGGIT%20BANKING%20PHILEO-SOPHY,%20PART%202.pdf

Posted by speakup > 2022-05-17 13:43 | Report Abuse

money stuck in mphbcap. if sold swap to sapnrg can already earn 78% today

Posted by YouWin > 2022-05-17 14:01 | Report Abuse

Mind sharing what the edge said about mphbcap here? please

Posted by TheContrarian > 2022-05-17 14:20 | Report Abuse

According to The Edge freelance writer Ms Poo (Shit?) the disposal proceeds is RM330 million based on her calculation.

Posted by TheContrarian > 2022-05-17 14:31 | Report Abuse

In 2014 MphbCap sold 49% for RM355 million. After more than 7 years of profitable growth The Edge writer thinks the balance of 51% will sold for RM330 million. Hahahaha.

Posted by Johnzhang > 2022-05-17 14:46 | Report Abuse

Agreed with TheContrarian that the consideration should be higher than the $355mil for the 1st 49%. Irrespective of what the final amount is, this will add to the existing over $700 mil cash pile after the 1st 49% sales. What is more important for us to think about is what the company is going to do with over $1 billion cash pile.
———————-

http://www.mphbcap.com.my/popup_news.asp?id=156

Posted by TheContrarian > 2022-05-17 14:57 | Report Abuse

@Johnzhang, what happened to the RM700 million over the past 7 years since 2014?

Posted by Goh123 > 2022-05-17 15:31 | Report Abuse

5.5-6.mil

Posted by TheContrarian > 2022-05-17 16:19 | Report Abuse

In June last year Generali already announced a proposed estimated purchase consideration of RM690 million for both MphbCap and Affin insurance units. For The Edge to state that the disposal consideration for MPHBCap's unit is a mere RM330 million is so laughable and borders on fake news.

Posted by Johnzhang > 2022-05-17 17:09 | Report Abuse

TheContrarian,
the money is still there , nothing spend and nothing distributed to shareholders since 2014. They are in Cash and in securities investment which the management said are money market funds. Perhaps a small portion is utilized to fund the credit business too.
Although there has been BNM’s restriction on dividend distribution (as the company is a financial holdings), there is no restrictions for the company to utilize the money to acquire new business or expand existing business. Yet nothing is done after 7-8 years and the management is clearly show no appetite to take on new business. I tend to believe that a large chunk of the cash will eventually be distributed to shareholders. The political background of the company in the past (as I share in a separate post this morning) and my suspicions that some ‘old politicians’ are still behind the scenes strengthen my argument on the dividend distribution. I may be wrong .


————————-
Posted by TheContrarian .
@Johnzhang, what happened to the RM700 million over the past 7 years since 2014?

Posted by TheContrarian > 2022-05-17 19:41 | Report Abuse

@Johnzhang, as at 31/12/2021, cash and investment securities amount to only around RM300 million.

Posted by Johnzhang > 2022-05-17 21:36 | Report Abuse

@Contrarian, I think the disposal sum for the 1st 49% of $355+ mil is retained in the insurance holdings and therefore reflected in the asset held for sales amount when the company is separating the total insurance assets and liabilities per account 31/12/21. There is also about $128 mil receivable current which I believe is the credit receivable.

You should also look at the account a qtr earlier before the insurance segment was separated to see how much were the cash , investment securities and receivable.

Posted by Johnzhang > 2022-05-17 22:00 | Report Abuse

@Contrarian, per account 31/12/21 that segregated the insurance segment:
Asset classified held for disposal $2,906942,000
Liabilities held for disposal ($1,703,465,000)
-------------------------------------------
Nett asset $1,203,477,000

Less non-controlling interest ($646,158,000) (on assumption this is Generali portion)

------------------------------------------------
Balance nett asset belong to MPHB $557,319,000

The about $557.4 mil nett asset is before considering disposal gain for the 51% sales of about $ 250 mil which will only be recognized after completion of the sales.

Posted by TheContrarian > 2022-05-17 22:56 | Report Abuse

After studying the latest Annual Report I am beginning to understand better. As per note 37 in the Annual Report, the units of discontinued subsidiaries comprise the insurance unit and a Nomura i-income Fund. The net assets of the insurance unit is RM721,288,000. 51% of that is RM367,857,000. The net assets of the Nomura Fund is RM742,878,000 of which RM455,892,000 is attributable to MphbCap. I believe this is a bond/money market fund.

Posted by TheContrarian > 2022-05-17 23:01 | Report Abuse

The disposal consideration for the insurance unit is yet to be announced (possibly around RM500 million?) while the fund upon liquidation would raise at least RM460 million. In total the disposal amount could be close to RM1 billion.

Posted by TheContrarian > 2022-05-17 23:55 | Report Abuse

It is in my strong belief that the investment in the Nomura i-income Fund is earmarked for distribution as dividend but was forbidden by Bank Negara until MphbCap totally exits from insurance business. The RM460 million from this fund will pay a dividend of 65 sen per share.

Posted by Endgame > 2022-05-18 09:09 | Report Abuse

Just run with price now 1.5, is good return already if you buy 1.3x before

Posted by Endgame > 2022-05-18 09:10 | Report Abuse

Big boss kiamsiap one, most likely u will only get 0.10 special dividend ...

Posted by theong > 2022-05-18 18:04 | Report Abuse

The guessing of how much mphc get in disposing of insurance business is now know.

Posted by YouWin > 2022-05-18 18:38 | Report Abuse

51% is worth RM508.16m

Posted by YouWin > 2022-05-18 18:39 | Report Abuse

Need affin to speed thing up, they have no announcement yet

Posted by Goh123 > 2022-05-18 18:46 | Report Abuse

new company requires to bank nagara to set up b4 6/6

Posted by TheContrarian > 2022-05-18 19:08 | Report Abuse

Minimum 65 sen special dividend anticipated.

Posted by theong > 2022-05-18 19:11 | Report Abuse

The next guess of how much it willing to give special dividend or dividend.

Posted by Endgame > 2022-05-18 19:23 | Report Abuse

But Big boss super kiam siap one...

Posted by TheContrarian > 2022-05-18 19:35 | Report Abuse

The disposal requires 75% approval of shareholders in EGM to be convened. If no substantial amount of special dividend is proposed to the distributed, the disposal is not likely to receive approval of sufficient percentage of shareholders.

Posted by TheContrarian > 2022-05-18 19:39 | Report Abuse

A minimum of RM460 million is already earmarked to be distributed as special dividend (of 65 sen), is this quantum sufficient to persuade minority shareholders to approve the disposal? Or will higher quantum of special dividend (say, RM1?) be proposed to ensure that disposal is not derailed?

Posted by YouWin > 2022-05-18 19:40 | Report Abuse

The proposal will go through with or without any special dividend proposed

Posted by YouWin > 2022-05-18 19:41 | Report Abuse

Btw 65sen is not special at all lol

Posted by TheContrarian > 2022-05-18 19:45 | Report Abuse

The situation is quite similar to SCGM which requires 75% shareholders approval. SCGM is proposing capital repayment and special dividend amounting in total of RM2.25 to ensure the disposal is not derailed.

Posted by YouWin > 2022-05-18 19:45 | Report Abuse

508m+355m=863m/715m shares is already rm1.++

Posted by YouWin > 2022-05-18 19:48 | Report Abuse

It's rm1.20 per share

Posted by YouWin > 2022-05-18 19:51 | Report Abuse

Land sale in the past also they still not giving out any dividend, imagine all those money plus interest,rm1.20 shouldn't even be the minimum

Posted by TheContrarian > 2022-05-18 19:57 | Report Abuse

Posted by YouWin > 1 week ago | Report Abuse

Special dividend should be more than 0.40, assuming 0.05per year is what we should have got from the company

Posted by YouWin > 2022-05-18 19:59 | Report Abuse

Let just hope the boss and his family are happy with what they have already, it's more than enough (wealth), and kind enough to treat the shareholders fairly.

Posted by YouWin > 2022-05-18 20:01 | Report Abuse

Hehe my bad,at least I didn't put a minimum on it

Posted by TheContrarian > 2022-05-18 20:02 | Report Abuse

Tomorrow we will get to see how the market reacts to a disposal consideration of RM508 million. The Edge earlier reported a probable disposal consideration of only RM330 million.

Posted by TheContrarian > 2022-05-18 20:03 | Report Abuse

I hope tomorrow all here in this forum will be in happy mood.

Posted by YouWin > 2022-05-18 20:07 | Report Abuse

1.20+0.40 also not bad

Posted by theong > 2022-05-18 20:07 | Report Abuse

Use of PROCEEDS
As at this juncture, the Board is still deliberating on plans for the utilisation of the proceeds from the
Proposed Disposal. An announcement will be made in due course.

Posted by YouWin > 2022-05-18 20:09 | Report Abuse

Yo affin got announcement liao

Posted by YouWin > 2022-05-18 20:10 | Report Abuse

Affin got announcement also
https://klse.i3investor.com/web/announcement/detail/1690130

Posted by TheContrarian > 2022-05-18 20:16 | Report Abuse

I hereby propose that Johnzhang be appointed to represent members of this forum to engage the Board of Directors on the utilization of the disposal proceeds, especially on the quantum of the special dividend, in order to secure the votes to approve the disposal.

Posted by YouWin > 2022-05-18 20:36 | Report Abuse

All we need is egm ASAP,so affin can provide the additional information to bnm or MoF to get the approval,I saw this in affin announcement,it just need some additional information to get the approval.....
(i) the approval of BNM for, among others, the Proposed Merger, (including the issuance of
the new AAGI shares to Generali Asia to satisfy the consideration for the Proposed
Merger), of which the application for the same has been submitted on 27 October 2021
and is pending approval as at the date of this announcement;

Posted by TheContrarian > 2022-05-18 20:41 | Report Abuse

Needs 28 days notice to call for EGM which requires 75% shareholders approval to pass resolution.

Posted by TheContrarian > 2022-05-18 20:42 | Report Abuse

Board of Directors need to deliberate on utilization of disposal proceeds first before calling for EGM.