SUNGEI BAGAN RUBBER CO (M) BHD

KLSE (MYR): SBAGAN (2569)

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Last Price

5.90

Today's Change

0.00 (0.00%)

Day's Change

5.90 - 5.90

Trading Volume

16,200

Overview

Market Cap

391 Million

NOSH

66 Million

Avg Volume (4 weeks)

7,810

4 Weeks Range

5.90 - 6.03

4 Weeks Price Volatility (%)

0.00%

52 Weeks Range

3.19 - 6.89

52 Weeks Price Volatility (%)

73.24%

Previous Close

5.90

Open

5.90

Bid

5.90 x 1,300

Ask

6.00 x 5,000

Day's Range

5.90 - 5.90

Trading Volume

16,200

Financial Highlight

Latest Quarter | Ann. Date

30-Jun-2024 [#4] | 28-Aug-2024

Next QR | Est. Ann. Date

30-Sep-2024 | 24-Nov-2024

T4Q P/E | EY

14.77 | 6.77%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

10.97 | 0.54

T4Q NP Margin | ROE

66.34% | 3.64%

Market Buzz
Company Profile

Sector: PLANTATION

Sector: PLANTATION

Subsector: PLANTATION

Subsector: PLANTATION

Description:

Sungei Bagan Rubber Co (Malaya) Bhd through its subsidiaries is engaged in the plantation, cultivation, and sale of fresh oil palm fruit bunches. It also holds long-term portfolio investments in securities, deposits with banks and investment properties. The Company operates through two segments: Plantation and Investments. The Plantation segment is engaged in the cultivation of oil palm. The Investments segment is engaged in long-term portfolio investment in securities, deposits with banks and investment properties. It derives most of its revenues from Plantation.

Discussions
3 people like this. Showing 50 of 300 comments

Diamond7

If can be sold at a higher price @zhlim
Would even be better!!!

2024-06-19 19:14

zildjian

mana tau announce special dividen after deal

2024-06-19 22:57

Zhlim014

I also vested as i have some geh shares

2024-06-19 23:56

Zhlim014

But this saga may drag longer than expected.

2024-06-19 23:58

Zhlim014

We not sure whether ocbc will give that fair and reasonable price on delisting day. If no have, means share suspension

2024-06-20 12:45

Zhlim014

Then 6 month later relist back again

2024-06-20 19:56

Diamond7

SGX rule very very strict!
Fair n transparent!
They act fast too

2024-06-20 22:25

Diamond7

Presently, and mindful of the 10% free-float rule, investors in GEH are concerned that the purchase price on June 19 is at a significant discount to GEH’s embedded value of $37.81 per share in FY2022. This, in turn is 2% lower than FY2021’s $38.57.

Embedded value is the sum of the value of In-Force Business and the value of the adjusted Shareholders’ Funds. The value of the In-Force Business is calculated using cash flow assumptions for future operating experience and are discounted at a risk-adjusted discount rate. The value of the In-Force Business varies from traditional DCF methods to arrive at an NPV because the risk-adjusted discount rate and allowance for the cost of holding statutory reserves for risk are approximates.

The economic value of one year’s new business rose by 7.1% y-o-y in FY2022 to $860.4 million. However, shareholders’ equity fell by 6% to $9,431.4 million.

The closer OCBC’s stake gets to 90%, the stronger the likelihood of compulsory acquisition by OCBC

2024-06-21 08:20

Zhlim014

Firstly, even after fair and reasonable, it also have to meet threshold of 75% valid acceptance. Then for compulsory acquisition, is 90% of independent shareholder.

2 months ago

Diamond7

INGAPORE - Minority shareholders of Great Eastern (GE) who are holding out for a better exit offer from OCBC Bank may be in for a long wait. How long?

Twenty years or so, if history is anything to go by.

2 months ago

lionel messi

Does the yearly dividend from Great Eastern justifies the holding out for a better offer?

2 months ago

Zhlim014

As i said, this will be a very long fight

2 months ago

Diamond7

Oversea-Chinese Banking Corporation (OCBC) has issued a response to the letter sent by the Securities Investors Association Singapore (SIAS) on June 21.

In its letter, SIAS posed six questions pertaining to OCBC’s decision to stick to its original offer price of $25.60 per Great Eastern (GEH) share, key factors that led to the offer price, and more.

In its response dated June 27, OCBC explains that it already considered the “methodology, analysis and opinion” of its independent financial adviser (IFA), EY, before making the offer.

“We note the IFA, following the detailed analysis it has undertaken, had considered the traded multiples of comparable companies across various metrics, versus the multiples implied by our offer,” said the bank, adding that its offer price represented a 36.9% premium to GEH’s last-traded price the day before its privatisation announcement on May 10.

The letter, dated June 27, comes after GEH’s free float fell below the regulatory 10% on June 24.

“We further note that the IFA has opined that the offer is not fair but reasonable and has advised the independent GEH directors to recommend that GEH shareholders accept our offer and the independent GEH directors have concurred with the IFA’s recommendation,” continues the release.

2 months ago

lionel messi

Thank you Diamond7 for sharing.

2 months ago

Diamond7

Currently kuchai has not swapped it's shares with SBagan

Kuchai is still holding the GE shares
Can kuchai sell the shares to OCBC?

2 months ago

dompeilee

Looks like by the time the deadline for the exchange arrives, Great Eastern would already be swallowed by OCBC & the original agreement has to be significantly amended to reflect the much enlarged cash pile & the corresponding reduction in the equity asset column.

2 months ago

Zhlim014

@Dompeilee you mean the transaction between sbagan and kuchai will most likely go through?

2 months ago

AhPek

Don't think Sg Bagan will allow OCBC to buy over GE shares from Kuchai. Already 90%+ of Kuchai's shareholders voted in favour of the resolution so there is no turning back unless there is another resolution to overrule the earlier resolution. I think OCBC needs to negotiate with Sg Bagan and not Kuchai. As it stands, Sg Bagan got the upper hand and not Kuchai. Just my opinion.

2 months ago

dompeilee

But the proposed acquisition approved by resolution has not gone through at least till Oct 26th at the earliest while Kuchai is still in Great Eastern's register as the owner of 3,032,000 of its shares so how can OCBC be buying from SBagan more than its own 1.73 mil shares?

2 months ago

AhPek

Very interesting development. Don't know how it's going to end up. Hope a win-win for both Kuchai and Sg Bagan shareholders.

2 months ago

lionel messi

There must be a good reason why they pushed it so far forward to 29 Oct when the closing date to accept the OCBC offer is 12 July. Is there a hidden message? Read between the lines.

2 months ago

Zhlim014

@lionel messi what is the hidden line?

2 months ago

Zhlim014

You mean they will talk behind scene until 29 oct?

2 months ago

AhPek

I think they will just let 12 Jul lapse. Drag on so that they will get more time to get a better offer from OCBC.

2 months ago

AhPek

The major minorities shareholders of GE is fighting for a higher price from OCBC.

2 months ago

AhPek

Seen the latest announcement?

2 months ago

Diamond7

Oversea-Chinese Banking Corporation’s offer for Great Eastern Holdings G07 0.00% closed at 5.30pm on July 12. OCBC now holds 93.52% of GEH. On June 25, OCBC’s ownership crossed 90%. As a result, GEH shares will be suspended on Monday July 15.

Accordingly, the offer is no longer open for acceptance and any acceptances received after 5.30 p.m. (Singapore time) on 12 July 2024 will be rejected. However, shareholders who have not accepted the offer can still require the offeror to acquire their shares at the offer price pursuant to Section 215(3) of the Companies Act.

This says the transferee or offeror must, within one month from the date of the transfer, give notice to holders of the remaining shares that haven’t been tendered, that they can still tender their shares, and OCBC will have to accept them

2 months ago

Diamond7

The date of transfer refers to the date on which OCBC’s shareholding crossed 90%, on June 25. On July 24, OCBC will likely be announcing that GEH shareholers can still accept the offer at $25.60 per share and this offer will be open for three months from July 24.

OCBC group CEO Helen Wong unveiled a One Group strategy last year. GEH is likely to be part of that strategy. Interestingly, analysts have pointed out that OCBC doesn't charge GEH any bancassurance fees as these are not indicated in its annual report. In 2019, United Overseas Bank U11 0.03% and Prudential renewed a bancassurance agreement for 15 years for $1.5 billion over the course of the 15 years.

2 months ago

AhPek

How will this exercise going to affect Kuchai and Sg Bagan's shareholders?

2 months ago

Diamond7

GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months...

2 months ago

AhPek

So this is actually very beneficial to Sg Bagan as Sg Bagan already executed the resolution.

2 months ago

Diamond7

My guess is...

SBagan will sell the Great Eastern shares to OCBC within the 3 months after acquisition from Kuchai.

Deal with kuchai is still on going. Takes some time!

2 months ago

Diamond7

50-50

All not sure if the great Eastern shares will be sold to OCBC or not!

2 months ago

AhPek

The notice did not mention the ex-date for taking over the assets and liabilities of Kuchai. Even if Sg Bagan doesn't sell the GEH shares to OCBC, it's still a valuable shares to hold. For long term, I think Sg Bagan's share should fly.🤞

2 months ago

Zhlim014

And kluang will fly together

2 months ago

Zhlim014

Or maybe have takeover of sg bagan asset by kluang

2 months ago

Diamond7

Lessons from OCBC’s offer for Great Eastern: be unafraid to hold out, but do so with eyes open
Earn dividends from shares that are suspended from trading and wait for a richer future offer

Leslie Yee
Leslie Yee
Published Tue, Jul 16, 2024 ·

2 months ago

Diamond7

On July 24, OCBC will likely be announcing that GEH shareholders can still accept the offer at $25.60 per share and this offer will be open for three months from July 24.

There is still hope that after the kuchai SBagan swap deal...

SBagan can still sell the Great Eastern shares to OCBC within the three months

1 month ago

dompeilee

Great Eastern, though suspended, has announced a fantastic set of results & an improved dividend of 45c per share payable in a month, so I believe the two sister companies should benefit.

1 month ago

dompeilee

SOLD 1 lot @ $6.34 to secure my 992nd consecutive capital gain day since July 29th 2020!🤗

1 month ago

calvintaneng

Poor dompeilei got tunnel vision
She CANNOT see Value in TSH RESOURCES

UNDERSTANDING DIFFERENT FORMS OF VALUE IN VALUE INVESTING, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-03-story-h-155170407-UNDERSTANDING_DIFFERENT_FORMS_OF_VALUE_IN_VALUE_INVESTING_Calvin_Tan

1 month ago

Diamond7

KUALA LUMPUR (June 26): The cut-off date for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) in return for a 29.37% stake in Sungei Bagan has been extended by four months to October 29.

The two companies on Wednesday signed a supplemental letter for the extension, according to Kuchai and Sungei Bagan's filings with the stock exchange, which did not specify the reason for the extension.

1 month ago

Diamond7

This swap benefits SBagan...
Time will tell!

1 month ago

Ovantage

Delisted share maybe big problem for sg Bagan, I still holding shares of Ytl land, nstp just to name a few..no dividends even annual report for delisted Share holders.

1 month ago

Ovantage

Hope this don’t happen to sbagan.. else it’s upto Ocbc to declare how much dividends to shareholders if any..

1 month ago

Ovantage

Since not listed, can have flexibility to do anything they want

1 month ago

AhPek

Sg Bagan got💪💪💪. Don't think OCBC can bully them.

1 month ago

Ovantage

Don’t think so.. only 1 % holding in geh.. upto to people to fish meat.

1 month ago

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