AMTEK (7051) Overview - AMTEK HOLDINGS BHD

Good comments and research by AMTEK Minorities.
Will digest and thoroughly read their AR.
May meet soon ...tq.

2019-03-01 08:47

tqvm AMTEK Minorities for such details elaboration.

Will forward my email shortly and then we discuss further in details. Tks again.

2019-03-04 19:13

108pinnacle@gmail.com

2019-03-04 23:30

In the circumstances and pursuant to paragraph 8.04(5) of the Main LR, please be informed that:-

the trading in the securities of AMTEK will be suspended with effect from 18 March 2019; and
the securities of the Company will be de-listed on 20 March 2019 unless an appeal against the de-listing is submitted to Bursa Securities on or before 15 March 2019 (“the Appeal Timeframe”). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities.

2019-03-10 00:26

Delisting soon, so what now?

2019-03-10 00:27

commonsense

Investors should get out of this company while they still can. The company will be suspended from trading on 18 March which only gives investors 5 days (up to Friday the 15th) to disposed of their shares. Even though Bursa gives Amtek up to 15 March to appeal, I think the most probable outcome would still be a suspension. I believe an appeal to Bursa would only be considered if the company can only come up with a solid regularisation plan. Those investors that are hoping for this might be having some wishful thinking on their part. It the company failed to come up with any regularisation plan for the past 1 year, I doubt they can do so in less than 5 days.

If you are looking to hedge your portfolio outside of Amtek (due to the risk of suspension and delisting), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.1x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.

FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).

MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.0x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.

Good luck.

2019-03-11 09:37

@AMTEK Minorities Kiss goodbye your shares XD

2019-03-12 10:12

commonsense

Hi Amtek minorities,

Just want to get some understand on ur investment thesis. Basically it is based on the idea that the company's properties are currently being undervalue. Based on your previous comments u put the true value of amtek at between rm1 to rm2. This is the reason why management and the major shareholder is not doing anythg to help lift the PN17 status of the company. Their objective is for the company to be delisted and to be taken private cheaply. Basically, by doing this, they can take the company private without having to make any offers to the minorities.

My questuon is: as a minority shareholder, how can u profit from this?

Once the company is taken private, u will become a minority shareholder in a private company. As far as i know, the company will no longer be obliged to give u any information (especially financials) and also not obliged to do any annual report besides the financial statement to be submitted to ssm every year. I also don't think they will do an agm after this. And given that their operation will be less scrutinize, how are u so sure that they will not take advantage of minorities ( even now as a public listed they are already doing this dodgy manoeuvre, i expect it to be worst as a private company).

The best scenario is that they will sell/ rent the properties at market value and then pay dividend to all shareholders. But i doubt this will be the case as they actually can do this even now. I am just afraid that they will try to bring out the money for their own personal adv at the expense of minorities such as:

1) Pay higher personal salaries
2) Buy personal assets at inflated price
3) Do right issues hoping minorities would not participate which will dilute the minorities interest, sell the assets then declare dividend.
4) enter into related parties transactions
Etc.

In conclusion, being a minority in a private company is very risky. That is why certain private equity fund would want a minimum interest of 30% to invest in a private company. Reason being any major corporate exercise need to have the approval of at least 75% of shareholders. 30% would help protect minority investors interest.

Regards.

2019-03-13 17:57

commonsense

Hi amtek minorities,

It seems u have done ur research on this investment. Hope u are right. Sincerely wishing u the best.

Good luck. Hope everything turns out well.

2019-03-14 18:47

I bought some since 10 days ago.

2019-03-15 17:41

jackfruit

Minorites so confidence ah..Amtek management cannot be trusted. They are thives. once delisted they will quitely shift Amtek registered office to Tanjong Rambutan and strip all the assets to their nominee. U think u can get your money back.

2019-03-15 19:03

jackfruit

Minorities once Amtek delisted hope u can keep follow up with the management.otherwise it will be like promet.

2019-03-16 19:53

dompeilee

Suspended! Good riddance...another 50 mil shares supply taken off the market!

Thanks for the profit I earned from you in 2014! & thanks for the nice AGM food in Nov '14! =)

2019-03-18 11:18

Bye Amtek, bye Amtek Minorities

2019-03-20 12:37

ElloMate

Hi @Beststock pertaining to the bit about Syed Azmin's unearthly behaviors being spread on social media, could you provide some context?

2019-05-23 22:52

The Board should continue to stress its overall responsibilities for maintaining and ongoing reviews of the adequacy and integrity of its Group’s system of internal control to ensure that the shareholders’ investment and Group’s assets are safeguarded.
The Company’s Statement on Risk Management and Internal Control is Not included in the annual report for the financial year ended 30 June 2019.

2019-12-07 13:03

The website of Amtek Holdings Berhad is not updated @ today 07/12/2019. The communication between the shareholders and the board of directors are zero.

2019-12-07 13:06

No mention of any current shareholders statistic and no mention of the group assets and properties are almost amount to fraud and open cheating of the public who invested in the company before delisting. I also appeal to the Securities Commission, the Bank Negara, the SSM and the commercial crime police department to question their motive of delisting.

2019-12-07 13:10

The current usage of the 7 acres land in Petaling Jaya is also a big question mark. 7 acres of prime commercial land beside DHL Express and Continental Tyres only attracted slightly over RM200,000-00 in their income. What and how it can happened? Please answer this question to our current shareholders. If they take the group private and delisted, their intention of their land usage was changed to their own director's use, we should duly request that they buy over the properties and declare the true and fair value of the land according to the current market price. Why didnt they do that???????????????????????????????????????????????????

2019-12-07 13:19

After delisting, it does not mean that the management and directors can do according to what they like without thinking of all the minority shareholders. SC , SSM and Bank Negara please take note of Amtek Holdings Berhad. Something is definately hiding inside their agenda. Even the current Notice of AGM for this year is less than 28 days.

2019-12-07 13:23

Malaysian Minorities Watch Dogs, you are failing the people and investors of Malaysia. How shameful of you.

2019-12-07 13:25

Amtek now is a piece of cake. Wherher it is a big cake or a small cake, the directors should now invite us to take a look on this piece of cake and share. Remember, sharing and caring and no one should be selfish. This piece of cake is not small. It is 7 acres in size situated in PJ old town. We want to know more on who resides on the land, what and how we can make use of the land. Be transparent. OK.

2019-12-08 11:39

https://klse.i3investor.com/blogs/machinelovers/2021-02-24-story-h1541258141-Manufacturers_In_Malaysia_Should_Buy_New_Machineries_Before_it_is_too_l.jsp

Amtek shareholders meeting today must be attended fully today because we are discussing the winding up of the group or the sale of your shares back to the group. The meeting can be very heated if the group is not treating the minorities fairly. Meeting starts at 11.45am today. Reporters and Shareholders, please be informed. Thank you.

2019-12-17 09:13

buffetsystem

2021-02-25 00:35

It is confirmed that the easiest way to cheat the public and the minority shareholders in today's Stock Exchange is to take the Listed Entity to delist and become private without the need to pay any compensation to the public investors. Malaysia is famous for this tactic. Amtek is one of them.

2022-04-11 13:31

Best of all, after delisting, all relevant authorities wash their hands and do not bother to follow up on the delisted entities. SC, BNM, SSM, Bursa and MI Watchdogs do not bother them at all. How wonderful these cheaters cheat the public investors. Public must be awared that such tactic is common in Malaysia. But no Member of the Parliaments take note of this tactic. Dig out those old delisted public listed companies like Amtek. You will get the answer. There are many such entities but their properties still in control by the majority shareholders for their benefits.

2022-04-11 14:03

Public Listed Companies can easily get to regularise by selling their precious listing status to the one who wants to be listed. There are many such private entities wanting to be listed this way, but Amtek easily and promptly choose to delist without even offering themself to any takers in the market. They know by choosing to delist, they killed two birds with one stone. 1. The Minorities die a natural death and need no compensation to pay. 2. Amtek cannot open up its Accounting books for outsiders like potential buyers or public to see as they have done some land deals in the past transacted privately in total secrets themselves. Why SC never check on them after they delist? Because once delisted, SC and Bursa KLSE do not bother them.

2022-04-27 12:52