Posted by AlfI3 > 2024-05-28 05:48 | Report Abuse

Wow, so many bridges to link us into richness wealth. Bojio

Posted by speakup > 2024-05-28 07:53 | Report Abuse

Was expecting no dividend so 3 is a nice surprise

Posted by Kaya Toast > 2024-05-28 14:47 | Report Abuse

Niama!!!!!! Privatisation offer RM1.70 only (###*&!!!?!+(!£¢¢$$^^¢¢(curse surin family few generation!!!!!!)

Posted by Syndicates > 2024-05-28 15:01 | Report Abuse

haiya see mwe offer price so low also can privatise

Posted by speakup > 2024-05-28 15:26 | Report Abuse

Terasa sedih
Expected at least rm2

Posted by Johnzhang > 2024-05-28 15:29 | Report Abuse

Blood sucker only offer $1.70 and hope to buy out ! I am not giving in .
Minorities who are unhappy of the price should swamp the AGM to blast Surin gao gao.

Posted by speakup > 2024-05-28 15:30 | Report Abuse

Yes go bang table, kick chair, shout loud loud

Posted by Johnzhang > 2024-05-28 15:32 | Report Abuse

The AGM is tomorrow 29th 2.30 pm online.
The privatization offer comes out today to test the water (reaction of minority shareholders during AGM)?

Posted by zildjian > 2024-05-28 15:42 | Report Abuse

kan tu bu thai kia kedekut betul

Posted by speakup > 2024-05-28 17:12 | Report Abuse

Tomorrow go bang table, kick chair, shout loud loud, throw tantrum like 5 year old kid

Posted by Kaya Toast > 2024-05-28 20:22 | Report Abuse

I submitted a complaint to mswg. Hope it work.

There are also many major institutional investor that have been holding the shares for decades, wonder if they will act with us on our side... I hope the EDGE editor not a friend of Surin and publish unfair privatisation offer append with computation of all the assets worth in coming week the EDGE.

Posted by Veryheng > 2024-05-28 21:15 | Report Abuse

If more than 10% voted against then the the proposal won’t go through so minority shareholders please don’t accept

Posted by speakup > 2024-05-28 21:26 | Report Abuse

rm1.70 so unfair, kasi should kasi rm2 lah
be a bit more generous lah

Posted by Johnzhang > 2024-05-28 21:27 | Report Abuse

Kaya, log in to the remote AGM tomorrow and show your displeasure. I am going to do that .

Posted by Johnzhang > 2024-05-28 21:29 | Report Abuse

$1.70 is blood sucking kind of offer . Won’t go down well .

Posted by Johnzhang > 2024-05-28 21:30 | Report Abuse

At least $2.00 to $2.20 is a bit more palatable to most minorities. Just my view

Posted by Kaya Toast > 2024-05-28 21:48 | Report Abuse

John, I will make time to attend. I also hope Board show some conscience rectify and resubmit a fairer proposal before EGM.

Posted by TheContrarian > 2024-05-28 22:01 | Report Abuse

Dear John, a SCR requires 75% acceptance and not more than 10% opposing. If 10% of the minorites oppose the SCR then it is off. So the chance of a higher revised offer is possible.

Posted by TheContrarian > 2024-05-28 22:15 | Report Abuse

Posted by Johnzhang > 41 minutes ago | Report Abuse

Kaya, log in to the remote AGM tomorrow and show your displeasure. I am going to do that .

Dear John, if you want to fight for a higher price, then form a group of shareholders to act as one voice to negotiate with Surin. If you can gather a group of shareholders with 44 million shares then collectively this group of shareholders can make or break the offer.

Posted by TheContrarian > 2024-05-28 22:53 | Report Abuse

Do note that in a SCR if 75% accept the offer of RM1.70 then all of the minority shareholders' shares are automatically acquired. Means you vote No also you lose your shares at RM1.70 UNLESS 10% voted No.

Posted by Kaya Toast > 2024-05-28 23:07 | Report Abuse

If majority 75%, mostly institutional investor ok to play by Surin game, nothing much retailer can do... At least before game end, we planned and executed the final phase before declare "GG".

Posted by Johnzhang > 2024-05-29 06:27 | Report Abuse

@TheContrarian, if I understand correctly,
We only need 39,967,092 shares to vote against to frustrate Surin .
Total no of share in issue (excluding treasury share) is 702,053,800.
Shares held by interested parties (Surin) 302,382,893.
Hence shares held by disinterested/minorities is 399,670,907.
10% of the votes held by the disinterested shareholders is therefore 39,967,091.
The rule is : must not be voted against by more than 10% of the votes held by disinterested shareholders.

I have in hand a group of disinterested shareholders collectively holding about 21 millions share . We just need the support of other disinterested shareholders collectively hold 19 mil share to join in.

Posted by AlfI3 > 2024-05-29 06:30 | Report Abuse

Yes, agree for us to plan & execute b4 d GO b success at rm1.7😔😓😕

Posted by Johnzhang > 2024-05-29 06:31 | Report Abuse

I will discuss with MSWG and request to use their platform for gathering more disinterested/minorities to take the just action.

Posted by Johnzhang > 2024-05-29 06:32 | Report Abuse

All we as minorities ask for is a palatable offer!
Not this kind of ripped off offer .

Posted by Johnzhang > 2024-05-29 06:39 | Report Abuse

The other way to frustrate Surin is to get overwhelming number of minorities, even you own just 100 shares to vote against in EGM.
This is because the rule states that the SCR must be approved by at least A MAJORITY in NUMBER Of The Disinterested shareholders present and voting either in person or by proxy at the EGM.
The key here is how many minorities care to participate and vote in EGM to protect their interests!

Posted by Sslee > 2024-05-29 06:44 | Report Abuse

Remember what happen when minority shareholders reject the VGO of MAA by major shareholder?

Posted by Johnzhang > 2024-05-29 06:45 | Report Abuse

@TheContrarian,
Preceding to this 75% in value threshold, there is a condition requiring at least a simple majority in numbers of minorities present in voting either in person or proxy at the EGM.

TheContrarian wrote :
Do note that in a SCR if 75% accept the offer of RM1.70 then all of the minority shareholders' shares are automatically acquired. Means you vote No also you lose your shares at RM1.70 UNLESS 10% voted No.

Posted by Johnzhang > 2024-05-29 06:50 | Report Abuse

@SSlee, some minority may be concerned, but myself and quite a number of bigger shareholders are not haunted by the development in MAA. It is not apple to apple comparison.

Posted by Johnzhang > 2024-05-29 06:55 | Report Abuse

In MPHB case the stake is very high for controlling shareholder!

Posted by Sslee > 2024-05-29 07:16 | Report Abuse

From MMC case it take about 4 months before an EGM to vote for or against the SCR. During the 4 months many times MMC was traded more than 20 sen below the offer price.

Posted by Sslee > 2024-05-29 07:41 | Report Abuse

Their land is near Pengerang Integrated Petroleum Complex. That land is only suitable for petro chemical plants.

Posted by speakup > 2024-05-29 07:52 | Report Abuse

Surin was forced to do privatisation now becoz some funds have been collecting and pushing up Mphbcap after news article out about JS-SEZ. If u notice Mphbcap has been on uptrend, the longer he waits the high he has to pay to privatise

Posted by Kaya Toast > 2024-05-29 08:26 | Report Abuse

Bro Sslee, Pengerang is in plan to be gazetted as special economic zone. Q1FY24 we saw a huge RM54mil spent in a quarter which likely conversion of Pengerang to industrial title, if conversion not probable, their accountant would not dare to capitalise in their book.
Surin has planned it since beginning with his cronies accumulating shares every year. At price of RM1.70 now is only to buy out the rights of Pengerang from shareholder, technically he gets remaining lands and hotels for free.
Surin wanted to try his luck with this shitty proposal, and we will see how other major institutional, private fund will response after holding the lacklustre performance shares for 10 years awaiting for this exact moment.

Posted by Johnzhang > 2024-05-29 08:33 | Report Abuse

I held about 3 million share in MMC. There were 2 times the share price was deliberately depressed very near to EGM . The 2nd round of price depression which happened just few days to EGM enabled me to make 10+% in just few days trade ! I added to my portfolio more shares during the price depression is with preparation that I might have to hold them longer if the privatization then did not materialize.
If my memory hasn’t failed me , Syed Mokhtar spend just about $2-3 billion to take MMC private. Syed mokhtar is now looking to divest a portion of the port business and valued the port business at $15 bil. This news appeared in the main media recently.

Posted by Johnzhang > 2024-05-29 08:59 | Report Abuse

Apollo MGO was at $5.80 . It’s share price now $6.95.

Posted by Kaya Toast > 2024-05-29 09:00 | Report Abuse

That's how super rich screw minority shareholder. Top 30 shareholder, many has been holding their shares tight for years, don't see any rush to unload. The odds in our favour to reject this initial unfair proposal. I think Surin knows it that's why he low ball now and will come up with next unreasonable offer formulated during his 15 minutes toilet break (I suspect 1.90)

Posted by zildjian > 2024-05-29 10:03 | Report Abuse

lol

Posted by TheContrarian > 2024-05-29 10:42 | Report Abuse

SCR is different from MGO. Market price in a SCR will not go above offer price because if SCR succeeds then the Company is privatized and delisted. In a MGO the offerer may choose to retain listing.

Posted by Johnzhang > 2024-05-29 10:54 | Report Abuse

I was shareholders in Selangor properties Bhd , a deep value land owner, and for the same reason that I invest in MPHB.
Back in 2018/19, kayin offered $5.70 to take the company private. Due to minority shareholders objections, the offer price was increased 2 times during the same exercise. The final price was $6.30 ie 60 sen increase.
The privatization is thru SCR like MPHB.

Posted by Johnzhang > 2024-05-29 11:01 | Report Abuse

https://www.edgeprop.my/content/1475102/selangor-properties%E2%80%99-privatisation-gets-shareholders%E2%80%99-go-ahead

Posted by Johnzhang > 2024-05-29 11:03 | Report Abuse

👆The above news is to refresh your memory on Selangor properties Bhd SCR.

Posted by TheContrarian > 2024-05-29 11:22 | Report Abuse

SCR offer price can be revised, that's why I say you minorites need to group together and appoint your spokesman and engage Surin.

Posted by TheContrarian > 2024-05-29 11:25 | Report Abuse

If Surin senses that he will not get the 75% acceptance he might revise upwards the offer price but this need to be done BEFORE the EGM convened to vote for the SCR.

Posted by speakup > 2024-05-29 11:36 | Report Abuse

Next to be privatisation is Fgv

Posted by Kaya Toast > 2024-05-29 14:48 | Report Abuse

Friend, can share key AGM highlight. IB not in time to submit my proxy form.

Posted by SuperDuper > 2024-05-29 14:56 | Report Abuse

Scary cats! Dont dare to answer questions in AGM.. Said no time even though it was just 20 mins into AGM.. Maybe intro took longer! Only answer 1 or 2 shareholders! What a joke!

Posted by speakup > 2024-05-29 15:23 | Report Abuse

They have no respek for minorities shareholders

Posted by Kaya Toast > 2024-05-29 15:36 | Report Abuse

Old Fox. Sepandai-pandai musang melompat, JohnZhang will lead the sheeps to bring him down!

Posted by Johnzhang > 2024-05-29 15:44 | Report Abuse

Yes, they take minorities for a ride ! But again ，this can only happen if majority of the minorities allow that.