SOUTH MALAYSIA INDUSTRIES BHD
KLSE (MYR): SMI (4375)
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Last Price
0.415
Today's Change
0.00 (0.00%)
Day's Change
0.00 - 0.00
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0
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Discussions
1 person likes this. Showing 50 of 773 comments
Whenever and wherever there is board tussle,the Mafia would love to penetrate into with an
agenda to rip off the company apart..
2024-07-16 09:30
situasi macam ni la jatuhkan bisnes zaitun..be careful owner smi..penat2 develop bisnes bagi elok tiba2 si bangsat mafia datang kacau bisnes orang
2024-07-26 09:00
Old owners should give up their shares... they are hoarding assets without bringing any value to shareholders
2 months ago
In an interesting twist, SMI’s stock price went up today, even after Techbase Industries Berhad and its partners announced a General Offer (GO) at RM0.450 per share.
Normally, you’d expect the stock to settle around the offer price, but that’s not what happened here. Instead, investors seem pretty excited about the new major shareholders stepping in.
So, why the enthusiasm? Well, it looks like investors believe SMI is worth a lot more than what’s being offered.
2 months ago
And they might be right—SMI’s current Net Tangible Assets (NTA) are sitting at RM0.610 per share.
2 months ago
better give up lah, techbase are rich to take over while old owners doesnt create value for shareholders....
2 months ago
The mafia gang will seek to suck the company dry instead of create value just like YB and techbase. Be careful.
2 months ago
Old management need to let it go... alrdy didn't do much for so many years, let the new blood come in
2 months ago
loss making for 3 years in a row, shareholders deserve betters... The old owners have had their time, now it's time for fresh leadership to unlock SMI's true potential
2 months ago
The new owner, Techbase, has the money to buy it out, which is better for the new shareholders. hehe
2 months ago
If there is another net loss in the fourth quarter, the old management ought to relinquish their shares
2 months ago
hahaha confirm another red quarter, most investor alrdy loss hope lah ! just give up!
2 months ago
useless company & management hahaha, getting close to 0.40 now while takeover offer is 0.45
2 months ago
SMI has turned things around. It seems that Techbase's takeover is a good start
2 months ago
Ini adalahlah satu permulaan yg baik utk syarikat ni. Tengok macam mana ia akan berkembang seterusnya
2 months ago
Better let Techbase take over completely and lead this company to a better future 🙂
1 month ago
overall the situation doesn't look good for SMI.... suddenly pattern a lot.... current SMI management is fishy af
1 month ago
Amysee, be careful what you wish for. Its like from the frying pan into the fire.
1 month ago
Big chance for takeover SMI. Francis Leong and two subsidiaries of Techbase Industries Bhd—are offering 45 sen per share to acquire the remaining shares they do not already own, according to its filing with Bursa Malaysia Securities. They now control more than half of the issued shares in SMI.
1 month ago
An Open Letter to Bursa Malaysia, SC, MSWG, SSM on Transparency Issue of South Malaysia Industries Berhad (SMI)
https://klse.i3investor.com/web/blog/detail/RCKT1/2024-09-10-story-h468377297-An_Open_Letter_to_Bursa_Malaysia_SC_MSWG_SSM_on_Transparency_Issue_of_So
1 month ago
Bursa Malaysia certainly needs to explain the mandatory general offer (MGO) announced by SMI a month ago, otherwise similar situations will happen to other companies in the future ...
1 month ago
Where's the update from SMI? Typical old management with lack of communication...
1 month ago
As retail investors, we find ourselves in a state of confusion regarding the ongoing Mandatory General Offer (MGO) of South Malaysia Industries Berhad (SMI). The recent flurry of announcements and legal disputes surrounding the MGO has left us questioning whether this offer is still proceeding and why the communication from SMI’s management and Board of Directors appears to be unclear and contradictory.
A Confusing Situation for Investors?
On 20 August 2024, the Unconditional Mandatory Takeover Offer was issued by Target 1 Sdn Bhd (T1) through TA Securities Holdings Berhad, offering to acquire all the remaining ordinary shares of SMI at RM0.45 per share. For many of us, this initially presented a clear opportunity to evaluate our position in SMI and decide whether to tender our shares. However, things became much more complicated soon after.
In late August, it was announced that Mr. Mah Sau Cheong, a minority shareholder, had filed an interim injunction to halt the MGO process, seeking clarity and protection for shareholders while the court deliberates on the offer. The situation was further complicated when, on 5 September 2024, the court dismissed the ad interim injunction. Despite this, SMI’s Board of Directors agreed to “prayer (b)” of the Plaintiff’s application, which restrains the company from taking further steps under the MGO until the matter is resolved.
Adding to the confusion, on 13 September 2024, SMI made an announcement stating that, despite the dismissal of the injunction, they would not proceed with the MGO until further court directions are provided following the next hearing, scheduled for 27 October 2024.
Is the MGO Still Ongoing?
From a retail investor’s perspective, this conflicting information is deeply concerning. On the one hand, we were told that the MGO was moving forward after the dismissal of the ad interim injunction. Yet, on the other hand, SMI has agreed to halt the process until further court orders are issued. This mixed messaging has left investors wondering: Is the MGO still on, or has it been effectively paused?
Furthermore, the legal back-and-forth raises a critical question: Why is the management and Board of Directors of SMI, who are responsible for ensuring transparency and protecting shareholder interests, seemingly contributing to the confusion? Instead of providing clear guidance on the MGO’s status, they appear to be adding layers of complexity, making it difficult for retail investors to make informed decisions about our holdings.
A Call for Clarity
As minority shareholders, we expect transparency and timely communication from SMI’s management, especially when it comes to such a significant event as a Mandatory General Offer. Unfortunately, this has not been the case, and we find ourselves in a state of uncertainty. We are left in limbo, unsure whether to act on the RM0.45 offer or wait for the court’s decision at the end of October.
We urge the Board of Directors and management of SMI to clarify the situation. Is the MGO still ongoing? If so, what should we, as shareholders, expect? If not, why has there been such a lack of clear communication to date? We seek answers, not further complications.
With legal actions pending and conflicting announcements being made, it is imperative for Bursa Malaysia, the Securities Commission Malaysia (SC), and the Minority Shareholders Watch Group (MSWG) to step in and ensure that SMI acts in the best interests of all shareholders. The current uncertainty and lack of transparency are unacceptable, and retail investors like ourselves deserve better.
We hope that the upcoming court hearing on 27 October 2024 will provide much-needed clarity. Until then, we continue to monitor the situation closely, but our confidence in the company’s leadership is waning.
https://klse.i3investor.com/web/blog/detail/LETTER/2024-09-18-story-h469212536-A_Concerned_Investor_s_Perspective_Uncertainty_Surrounding_SMI_s_Mandato
1 month ago
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nobody buying
2024-07-15 18:39