Today drop. Down down 700pts

will it the offer the same

In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. The suspension will be effected from 9.00 a.m. (Malaysian time) on Wednesday, 1 July 2020. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.



In addition, Section 223(2) of the CMSA requires the Joint Offerors to give the Dissenting Holders a notice in the manner prescribed under the Rules of the rights exercisable by the Dissenting Holders under Section 223(1) of the CMSA ("Notice to Dissenting Holders"), within 1 month of the time the Joint Offerors receive Valid Acceptances resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors holding not less than nine-tenths (9/10) in the value of all the shares in Yee Lee on or before the Closing Date.



As the Joint Offerors have, in relation to the Offer, received Valid Acceptances in respect of the Offer Shares resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors to collectively hold not less than nine-tenths (9/10) in the value of all the Yee Lee Shares, the Joint Offerors will issue the Notice to Dissenting Holders to inform them that they may exercise his/ her rights under Section 223(1) of the CMSA. According to Section 223(1) of the CMSA, the Dissenting Holders may serve a notice on the Joint Offerors to require the Joint Offerors to acquire his/ her Offer Shares on the same terms as set out in the Offer Document or such terms as may be agreed between the Joint Offerors and such Dissenting Holder or as the High Court may, on application made to it by such Dissenting Holder or by the Joint Offerors, thinks fit to order under Section 224(3) of the CMSA. The Notice to Dissenting Holders may specify the period for the exercise of the rights of the Dissenting Holders and in any event, such period shall not be less than 3 months after the Closing Date.



Accordingly, the Notice to Dissenting Holders will be dispatched to the Dissenting Holders within 1 month from 5 June 2020, being the date of receipt of the Valid Acceptances resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors to collectively holding not less than nine-tenths (9/10) in the value of all the Yee Lee Shares.



This announcement is dated 23 June 2020

Short term Malaysia Is beneficiary of the global market

UNLESS REALLY THERE DELISTED AND MAY OFFER AGAIN. UNLESS IS THE COMPUSLORY DELISTING

THERE WILL OFFER AGAIN

2.33 to 2.06

so anybody here reject the deal. lower than the previous deal

KUALA LUMPUR: The takeover offer for Yee Lee Corp Bhd, which trades in edible oil, at RM2.06 a share is “not fair” but “reasonable”, according to the board and independent adviser to the minority shareholders.

In its independent advice circular issued on Friday, the board, including the non-interested directors, said the offer was not fair, as the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee shares of between RM3.49 and RM3.60.

However, the board said the offer was reasonable as the joint offerors hold 176.04 million shares, or 91.88% of the issued shares in Yee Lee.

This is above the 90% threshold that is needed to withdraw its listing status or to undertake a compulsory acquisition of the company.

“Consequently, Yee Lee is currently not in compliance with the public spread requirement as the public shareholding spread of Yee Lee is only 8.12%. The joint offerors will not take any steps to address the shortfall in the public shareholding spread, ” it said.

The closing date is at 5pm on June 23.

To recap, on May 12, Yee Lee Corp Bhd’s major shareholders, which then owned a combined 89.94% stake in the company, launched a voluntary takeover to acquire the remaining shares at RM2.06 per share.

The voluntary takeover offer was from its executive chairman Datuk Lim A. Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lee Ee Young and Langit Makmur Sdn Bhd. Lim is also chairman of SPRITZER BHD.

Yee Lee’s board said the offer price was 3.52% to 5.64% over the five-day, one-month and three-month volume weighted average prices of Yee Lee shares.

However, the offer price was 1.44% to 9.65% below the six-month and 12-month VWAPs of Yee Lee shares.

The board said the offer provides the holders with an exit opportunity to realise their investment in the shares compared to various closing prices.

“Notwithstanding the above, we are of the view that the offer is Not Fair, as the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee shares of between RM3.49 and RM3.60, ” it said.

However, the offer was reasonable as the joint offerors hold 91.88% of the issued shares in Yee Lee.

“Consequently, Yee Lee is currently not in compliance with the public spread requirement, ” the board said.

The board added that the offer was not fair but reasonable and recommended the holders accept the offer. The non-interested directors also concurred with its opinion.

Affin Hwang Capital Investment Bank, which is the independent adviser to the minority shareholders, also shared the same viewpoints.

“The above, the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee Shares of between RM3.49 and RM3.60.

“Premised on our overall assessment of the offer price, we are of the view that the offer price is not fair, ” it said. However, the offer is reasonable as the joint offerors hold 91.88% of the issued shares and Yee Lee is currently not in compliance with the public spread requirement.

Institution support

100% tax exemption for the purchase of locally assembled cars beginning june until dec 31

100% tax free for local vehicle purchase asemble in malaysia

Production is limited but demand is there. Price is up.

Too expensive

Diw close up 11 PTS. Party is end

Tin pricing is up

When npl is out than we know all the bank share will come down Maybank, CIMB, Hong Leong and public bank

Tenaga lowest is RM10.19

no dividend

maybe offer to take private

i doubt so

last high is 0.47

Up31%

From 29sen to 38 Sen already up alot

Will come down to 2.00

Concession

becareful the investment bank ask you to buy and there sell it to you.

Genting will be down unless the airline company fly. without that genting outlook will be bad.

Buy at 0.20 level better

Maybe no

Amway still expensive

maybe new growth area for them

genting do a lot of life science joint venture.

https://www.genting.com/life-sciences/

private company, with facilities in London, UK and Carlsbad, CA, USA, DNAe has strong financial backing from its investors, including major shareholder Genting Berhad, a Malaysian-based global investor with a growing portfolio of cutting-edge life sciences companies.

https://www.dnae.com/news--dnae.html

We refer to the previous announcements dated 13 June 2019, 11 July 2019, 28 August 2019, 28 November 2019, 24 December 2019 and 27 February 2020 in relation to the non-compliance with public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements.



The terms used herein, unless the context otherwise stated, shall bear the same meaning as those defined in the earlier announcements in relation to the above matter.



On 12 May 2020, UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") had, on behalf of Yee Lee Organization Bhd, Dato' Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn Bhd (collectively the "Joint Offerors"), served a notice of offer on our Board of Directors ("Board"), informing the Joint Offerors' intention to undertake an unconditional voluntary take-over offer to acquire all the remaining ordinary shares in Yee Lee ("Yee Lee Shares") not already held by the Joint Offerors for a cash offer price of RM2.06 per Yee Lee Share ("Offer"). The Offer will remain open for acceptance from the date of the posting of the offer document for a period of not less than 21 days or such later date(s) as UOBKH may announce, on behalf of the Joint Offerors.



As stated in the notice of the Offer ("Notice"), the Joint Offerors do not intend to maintain the listing status of Yee Lee.



Subsequent to the serving of the Notice on the Board on 12 May 2020, one of the Joint Offerors, namely Langit Makmur Sdn Bhd, had acquired 274,900 Yee Lee Shares from the open market, which resulted in the Joint Offerors collectively holding, together with such Yee Lee Shares that were already held by the Joint Offerors, approximately 90.08% of the total voting shares of Yee Lee as at 13 May 2020. Accordingly, Yee Lee's public shareholding spread had reduced to approximately 9.92% on even date and in this regard, Yee Lee continues to be in non-compliance with the public shareholding spread requirements.



In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.



Premised on the above, the Joint Offerors will not take any steps to address the shortfall in the public shareholding spread of Yee Lee.



This announcement is dated 14 May 2020.

This is what there say in the newspaper. Need to check if there is bursa announcement. If no than is just another way to ask shareholder to sell to them

as long as there no compulsory acqusition there could not delist the company and you still have your rights.

There just want to test how many shareholder accept.

With the uncertainty, actually we hold the share give you better safety margin

The owner is not share holder friendly. He just want to launch the offer price and get existing shareholder to sell at 2.06. if we did not sell than we may end up with the delisting share. But eventually if we did not accept will go back to 2.33 but will need to wait another one year.

Sometime think better buy Facebook, cme group, alibaba

Is a great company. Another Warren buffet type of company

Oriental share price now is 5.30

Today is 0.715. Look like going up.

1.98. maybe another offer from the major shareholder. i guess will be at 2.33

0.685 up from 0.615.

astro below 80 sen the best entry.

THE COMPANY IS IN BPO. But malaysia difficult....