U guys sell funds buying

https://www.reuters.com/finance/stocks/financial-highlights/EKOV.KL

If parliment disolve tmr then 6.3b project can not pen d

Eko still need FM to support their highway projects. What to punish?

KUALA LUMPUR: Ekovest Bhd has no plans to revisit its take over offer for Iskandar Waterfront City Bhd (IWC) after the deal fell through.

"As the management, we respect the shareholders' decision. We'll not revisit the thing. We will go back to our core business and infrastructure expansion, in line with our Duke masterplan and River of Life project," said Ekovest managing director Tan Sri Lim Keng Cheng at a press conference after its EGM here today.

During the EGM, 69.2% of Ekovest shareholders representing 439.82 million voting shares voted against the deal.

However, he reiterated that valuations are cheap for IWC despite rejection from Ekovest minority shareholders.

Meanwhile, Ekovest executive chairman Tan Sri Lim Kang Hoo said the deal would have gone through if it is not a related-party transaction.

"If it is not related, it is done already. It's a different story."

KUALA LUMPUR: Ekovest Bhd has no plans to revisit its take over offer for Iskandar Waterfront City Bhd (IWC) after the deal fell through.

"As the management, we respect the shareholders' decision. We'll not revisit the thing. We will go back to our core business and infrastructure expansion, in line with our Duke masterplan and River of Life project," said Ekovest managing director Tan Sri Lim Keng Cheng at a press conference after its EGM here today.

During the EGM, 69.2% of Ekovest shareholders representing 439.82 million voting shares voted against the deal.

However, he reiterated that valuations are cheap for IWC despite rejection from Ekovest minority shareholders.

Meanwhile, Ekovest executive chairman Tan Sri Lim Kang Hoo said the deal would have gone through if it is not a related-party transaction.

"If it is not related, it is done already. It's a different story."

Those who will attend the egm pls do update us. Tqvm.

D.T. try to minimize impact of usd when petroyuan when take place...

miker you can try lodge a complaint to SC in relation to FH

Tan Sri Lim Kang Hoo must rely on the judgment of minority stakeholders to vote on the acquisition of the Tebrau land

PETALING JAYA: At the heart of Tan Sri Lim Kang Hoo's proposed reorganisation plan is the question of valuation on 1,000-plus acres in Johor.

According to the circular to the shareholder, the land has a potential market value of RM3.6bil or RM84.49 per square feet (psf), for which Ekovest Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

shareholders will be able to acquire at almost 25% of its price.

Based on the share swap or cash offer of RM1.50 per Iskandar Waterfront City Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

(IW City) share, Ekovest will pay about RM1.24bil or RM28.81psf.

Lim, who holds 38% of IW City is not part of the deal, which is to facilitate the eventual listing of Iskander Waterfront Holdings Bhd.

The minority shareholders of Ekovest will decide on the proposed transaction by the end of this month in a meeting where Lim and parties acting in concert that control just over 50% of Ekovest cannot vote.

The voting will boil down to institutional shareholders that have bought into Ekovest, now a construction, highway and property developer of prime urban land with easy access to the DUKE Highways.

At the moment, Ekovest has assets that generate cash-flow, six ongoing property projects in the Klang Valley with a gross development value of RM7bil and 39 acres of land on the fringe of the city for future development. The River of Life project will continue to be a means for it to get more land in the city around the Klang River.

The toll road division has a strong shareholder in the Employees Provident Fund (EPF).

So why would the minorities agree to a deal to buy 1,000 acres of waterfront land in the the Tebrau area in Johor?

At the moment, IW City, which has positioned itself as a master developer, is cheap if one looks at the potential development value it can generate. But at the same time, many property counters are also cheap because the sector is not the flavour of the month.

The promoters of the deal are also saying that Ekovest shareholders will get to enjoy the upside benefit from the development of 127.92 acres spearheaded by the Greenland group and any future land acquisition by the state and also private developers.

Greenland sealed the deal with IW City to acquire the land in 2015 for RM2.37bil. So far one payment has been done and the remaining is to be paid in instalments. According to IW City’s announcements, one instalment of RM46.3mil is due this month and another next month.

It is a long-term project entailing a development that will go on well beyond 2020. IW City is to be paid for the land in instalments.

In the meantime the minorities of Ekovest have to decide if they can do without IW City.

The institutional funds led by the EPF, which has almost 6.5% in Ekovest, hold in total more than 18% of the contractor and toll road operator. Apart from the EPF, the other notable institutional shareholders are AIA Bhd, Kumpulan Wang Amanah Pencen and Public Mutual and Prudential.

Convincing these institutional shareholders is the key for Lim to re-organise his companies and see the eventual listing of IWH.

Read more at https://www.thestar.com.my/business/business-news/2018/03/16/minorities-of-ekovest-hold-key-to-reorganisation-plan/#6DMVphgk86xvs6ci.99

To be fair. Ekovest has been given a high return (including special dividend) to sharesholders if you bought in 2015.

Institution shareholdings @ 22.89%

alliance steel vs excess

i'm referring to additional output from us itself after post tariff (import will reduce)...what will happen to the export output...currently, steel did not shortage in global market. im holding annjoo, but this is something critical factor to consider.

I'm worry of excessive of steel output after tariff imposed as new output will growth at us itself.

EPS FOR FY17 IS 40.52

Good move by eko management to finance toll construction upfront...

Can you share the research report ?

Any comment on Q218 result?

https://www.nst.com.my/business/2018/01/328438/ekovest-may-list-highway-asset

tq

can anyone share the annjoo initiate covering research report by TA?

FM is buying thats why LKH is not buying now. (understand the rational behind this)

To list the highway they will need fm to support. Do you think they will screw up the ekovest fm?

QR released, closed to my prediction of 55m.

31 oct 17 released

Epf shareholdings. Check latest ar

If he screw up ekovest investors wait and see when time for highway ipo.

initial payment received in aug, i suppose 2nd payment will only receive in nov

I3 relevant lvl is reducing.

Just like how tony did for aa private placement and now monetise all non core assets. Eps dilution in near term but get more after that.

Private placement can also from institution or majorshareholder since the want to list the highway where they can get back the fund after the listing.

30 property 30 construction 40 toll

But ekovest wan cash from iwcity (thr land disposal)

U check 5 may announcement and 28 aug announcment. The detail is there. Only recieved 48m in july . Progressive payment

DISPOSAL OF THREE (3) PIECES OF LAND MEASURING IN AGGREGATE APPROXIMATELY 127.92 ACRES HELD BY TEBRAU BAY SDN BHD (“TBSB”), A WHOLLY OWNED SUBSIDIARY OF IWCITY, LOCATED IN MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR, TO GREENLAND TEBRAU SDN BHD (“GTSB”) FOR A CASH CONSIDERATION OF RM2,373,079,016 (“DISPOSAL CONSIDERATION”) (“LAND DISPOSAL”)

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.)

Reference is made to the announcements dated 5 May 2017, 14 July 2017 and 19 July 2017 (“Announcements”).

In furtherance to the announcement dated 19 July 2017, on behalf of the Board of Directors of IWCity, AmInvestment Bank Berhad wishes to announce that the Initial Payment 1 of Lot 1A has been duly received by TBSB.

This announcement is dated 28 August 2017.

You did not consider the land disposal of 2.3b (gain at 1.2b)

See the above payment schedule

Bailout can get so much money from iwcity land disposal gain of 1.2 b?

Bigbrother. What is ur view

Based on 1.5 total m.cap abt 1.2 to 1.3. The land disposal again ald 1.2b. All in 2.3b

Accept 1.5 rugi. At least 2rm

DISPOSAL OF THREE (3) PIECES OF LAND MEASURING IN AGGREGATE APPROXIMATELY 127.92 ACRES HELD BY TEBRAU BAY SDN BHD (“TBSB”), A WHOLLY OWNED SUBSIDIARY OF IWCITY, LOCATED IN MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR, TO GREENLAND TEBRAU SDN BHD (“GTSB”) FOR A CASH CONSIDERATION OF RM2,373,079,016 (“DISPOSAL CONSIDERATION”) (“LAND DISPOSAL”)

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.)

Reference is made to the announcements dated 5 May 2017, 14 July 2017 and 19 July 2017 (“Announcements”).

In furtherance to the announcement dated 19 July 2017, on behalf of the Board of Directors of IWCity, AmInvestment Bank Berhad wishes to announce that the Initial Payment 1 of Lot 1A has been duly received by TBSB.

This announcement is dated 28 August 2017. Accept 1.5 rugi

DISPOSAL OF THREE (3) PIECES OF LAND MEASURING IN AGGREGATE APPROXIMATELY 127.92 ACRES HELD BY TEBRAU BAY SDN BHD (“TBSB”), A WHOLLY OWNED SUBSIDIARY OF IWCITY, LOCATED IN MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR, TO GREENLAND TEBRAU SDN BHD (“GTSB”) FOR A CASH CONSIDERATION OF RM2,373,079,016 (“DISPOSAL CONSIDERATION”) (“LAND DISPOSAL”)

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.)

Reference is made to the announcements dated 5 May 2017, 14 July 2017 and 19 July 2017 (“Announcements”).

In furtherance to the announcement dated 19 July 2017, on behalf of the Board of Directors of IWCity, AmInvestment Bank Berhad wishes to announce that the Initial Payment 1 of Lot 1A has been duly received by TBSB.

This announcement is dated 28 August 2017.

Tebrau shall pay the Balance Disposal Consideration in the following time and manner (“BDC Payment Schedule”):-
Balance Disposal Consideration No. Date Amount (RM) Lot 1A 15 July 2017 46,324,363.86 (“Initial Payment 1”) 15 October 2017 46,324,363.86 15 January 2018 46,324,363.86 15 April 2018 46,324,363.86 15 July 2018 46,324,363.86 Total 231,621,819.30 (“Lot 1A BPP”) Lot 3A 5 August 2018 85,937,759.33 (“Initial Payment 2”) 5 November 2018 85,937,759.33 5 February 2019 85,937,759.33 5 May 2019 85,937,759.33 Total 343,751,037.30 (“Lot 3A BPP”) Lot 2B On or before 5 August 2019 98,046,810.90 (“Lot 2A BPP”) Lot 4A & 4B On or before 5 November 2019 334,163,566.80 (“Lot 4A & 4B BPP”) Lot 2A On or before 5 February 2020 344,192,736.60 (“Lot 2A BPP”) Lot 2C On or before 5 May 2020 783,995,143.50 (“Lot 2C BPP”) Grand Total 2,135,771,114.40

Iwcity is the losing side not ekovest.

Iwcity is a cash cow company from now onwards. Ekovest will enjoy it over the years(tagb disposal of land ) pls refer bursa under iwcity of their payment schedule

Land disposal gain from iwcity.

Pending gain from land disposal for iwcity more than 1bil

Analyst said qoq will be flat