Hi ajkeat, once again, thanks for your trust and support. I truly appreciate it .

A frog in the well can only see a small window into the blank sky . How could it see my presence ! 😂

Hi ajkeat, Thanks for your kind words which is absolutely not necessary. The MPHB episode is behind us and we shall move on to something better ahead. I will find way to link up with you later.

Don't waste time on the stupig trojan horse Million and let him be a frog in the well. He could not feel anything and can't even put pieces of information together to see the pictures.

@ Speakup , if you read carefully , Calvin is actually advising you to sell now and don’t your waste time to wait for possibly $0.10 more. May be he see the opportunity to make $0.10 is low but the risk of mphb plunging to $1.00 as you predict is high .
What Ali123456 said makes sense too .

MIDF Amanah Investment Bank Bhd (MIDF Research) said “On a yearly basis, Sarawak Plantation’s 2QFY24 profit after tax, amortisation (PATAMI) were stronger driven by better upstream performance with higher operating profit of RM24.1 million (up 70.8 per cent y-o-y) recorded, underpinned by higher CPO ASP (RM4,007 per tonne; up5.6 per cent y-o-y) and better FFB output (up 16.0 per cent y-o-y).”

It explained that profitability for estate jumped by double-digit growth to RM21.4 million (+75.0 per cent y-o-y), mainly attributed by the elevated average selling price CPO and palm kernel (PK) realised of RM4,007 per metric tonne (+5.6 per cent y-o-y) and RM2,253 per metric tonne (+20.7 per cent y-o-y), respectively.

@TheContrarian, It is unclear if the attendance to the forum will be good, let alone meeting the threshold of 40mil share.
After doing the necessary "groundwork" (and received backlash) , I should now leave it to the majority of the minorities to decide, especially for those who's investment remain under water or earn meagre return despite that the company is so rich!
You may noticed that back in 2021, i wrote a lot about MPHB and the plantation counters especially Bplant. I believed in them and share my little knowledge truthfully in i3. Bplant's chapter is closed. Minorities may decide to close MPHB's chapter too!
The outcome of the EGM, either way is fine with me as my entry level in 2020/2021 was low.

https://newswav.com/article/indonesia-s-prabowo-hopes-to-implement-b50-in-2025-A2408_BQZoTm?s=A_76I5Wu6&language=en

Public Investment maintained an “outperform” call with a revised target price of RM4.88 on Ta Ann

CGS International maintained an “add” rating with an unchanged target price of RM5.50, highlighting Ta Ann’s strong balance sheet and attractive dividend yields.

CIMB Securities maintained its “buy” call on Ta Ann with an unchanged target price of RM4.60, citing the stock’s attractive 6%-8% dividend yield.

All three research houses remain positive on Ta Ann’s long-term prospects, driven by strong performance in the plantation segment and potential recovery in timber production starting from July.
They also like the stock’s attractive dividend yield and potential for unlocking value. They also noted the higher payout ratio as another key positive factor.

https://newswav.com/article/indonesian-palm-oil-output-set-to-fall-on-dry-weather-old-trees-A2408_s5pInC?s=A_H0P5B4f&language=en

https://newswav.com/article/indonesian-palm-oil-output-set-to-fall-on-dry-weather-old-trees-A2408_s5pInC?s=A_H0P5B4f&language=en

https://newswav.com/article/indonesian-palm-oil-output-set-to-fall-on-dry-weather-old-trees-A2408_s5pInC?s=A_H0P5B4f&language=en

For the first time in my memory ,MSWG responds to the plights of many minorities by holding a forum on a specific privatization scheme. MSWG can play its roles effectively ONLY if many minorities come forward. The end results really depends on minority shareholders participation and awakening. Ultimately, minorities decide on their own fate . Or they rather let others to decide for them ?

KUALA LUMPUR (Aug 26): Hap Seng Plantations Holdings Bhd’s (KL:HAPSENG) net profit almost tripled to RM27.67 million for the second quarter ended June 30, 2024 (2QFY2024), from RM9.42 million a year ago, driven by higher average selling price (ASP) of all palm products, higher sales volume of crude palm oil (CPO) and lower operating expenses.

👆That means management expect significantly higher profit for 3rd qtr.

With drier weather conditions since July, Ta Ann Holdings reported significant improvements in its timber sector, with increased production volumes of logs and plywood.
However, the group anticipates that timber product prices will continue to yield only modest profit margins.
The group’s palm oil production is on an uptrend coming into the second half of the year, with the fresh fruit bunch production cycle reaching its peak.
“With anticipation of tight supplies of vegetable crops due to dry weather in the Black Sea region as well as higher consumption of biofuels in diesel in Indonesia, crude palm oil price is expected to hover only at current level in the second half of the year,” the group said.

Net profit for the three months ended June 30, 2024 (2QFY2024) was RM48.71 million or 11.06 sen per share, compared to RM42.98 million or 9.76 sen per share in the same period a year earlier.

@Ali, you have some good points. Offeror will succeed if minorities remain ‘sleeping’ like what you described.

@millions, you are really confused !. May I suggest you go to read carefully what I said !

Your behavior has certainly changed, at least in the case of MPHB capital. We can't count on you to promote minority shareholders activism . Not fear mongering and pouring cold water is already a big service from you .

Whether our effort will eventually pay off is yet to be seen .But at least we make some effort and encourage minority shareholders activism along the way .

One or a few people may not make any impact , but 50 or 100 people coming together may bring minorities’ power alive .

I don’t wish to say more .
——————————


Sslee wrote :
I attend physical AGM not to collect door gift but to collect name cards.

I had make so many complaints to Bursa and SC on many companies.
I hold BOD accountable, responsible and answerable during AGM Q&A.

@Sslee , welcome an unacceptable offer ? Haha.
I presume you meant wait for others who are equally ‘helpless and powerless ‘ to decide your fake. Don’t you think it is a self fulfilling prophecy?
For a season investor like you , don’t you feel the urge to take small steps to promote minority shareholders activism and to encourage more minorities to stand up against bully? The end results may disappoints but I think a slight effort by many of us shall make some difference in the future. Rome is not built in one day .
—————————-
Sslee wrote:
I will not accept the RM1.15 offer but I welcome the offer..

@Sslee , Give me straight forward answer to my simple question lah !

For most part of last 5 years Insas stayed below 90sen . It dived to about 40sen during Covid panic it is now about $1.03. If there is a takeover offer at $1.15 , will you just accept the offer and blame your luck ?

@Sslee , you have a billion to lend to us ?
Hehehe….😂

Sslee wrote :
If anyone interest to borrow a billion to take over Insas and I can say for sure you are going to immediately get a billion to pay back your borrowing and have another 2 billlion+ assets that included and not limited to 515,008,575 inari share

Any taker?

@Genius, you have already made up your mind to sell your shares to ‘save the market’ about 2 weeks ago . Just move on and don’t look back . Invest your money wisely.

@speakup, since you hold very bearish view of the stock market , it is better for you sell now and forgo the 9sen opportunity gain . If the deal fails, your opportunity loss could swell to 50sen as you already said it would .
We have gain support from another about 3 million share to vote against the SCR . Your risk is heightened now .

@TheContrarian, Sorry that I don't quite get what you are trying to mean.
When we acquired the shares, we acquired them on the basis of our share rank pari-passu to the same class of share held by SU. That means, our shares have equal rights to dividend, voting rights, liquidation of assets and same offer price in the event of a takeover offer especially when the takeover offer is by an external party.
The ongoing SCR is a takeover offer , except that it is offered by SU, a substantial shareholders and that doesn't change the pari-passu principle of equity share investment.

We acknowledged that SU needs advantage or incentive to make takeover offer. But the advantage or incentive can not be to such extent that thousands of minorities have to be severely deprived of a fairer return.
-------------------------------------
TheContrarian wrote :
When you buy shares of a public listed company you are not buying a share of the business. You are merely investing your money.

Can you fault the minority shareholders to be angry ?
Does the super rich has to take advantage on the poor minorities to this extent ?
Something for the super rich Acquirer to reflect !

(B) Analysis based on potential RNAV of $3,500 mil
Under the proposed SCR, Acquirer intends to distribute the potential RNAV of $3,500 mil as below :
Minority shareholders : $748 mil
Acquirer (3,500-748) $ 2,752 mil
------------------------------------------------------
Total $3,500 mil
==================================
Minority shareholders get $748 mil/440 mil share = $1.70/share
Acquirer gets $2,752mil/262 mil share = $10.50/share.

Per the independent advisor (AI) report, the realizable net asset value (RNAV) of the company is $2,295,561,000.00 and that is based on properties revaluation on 26/6/24.
You can be sure that the potential RNAV is easily higher the $2,295,561,000 projected by IA. My own estimate is $3,500,000,000 . I shall explain my argument later.

(A) Analysis based on AI’s RNAV of $2,296 mil
No of share paid up (less treasury share) : 702 mil
Acquirer shareholding : 262 mil unit
Minority shareholding : 440 mil unit
Under the proposed SCR, Acquirer intends to distribute the RNAV of $2,296 mil as below :
Minority shareholders: $748 mil
Acquirer : $1,548 mil
------------------------------------------------------
Total $2,296mil
==================================
Minority shareholders get $748 mil/440 mil share = $1.70/share
Acquirer gets $1,548mil/262 mil share = $5.91/share.

OK to accept ?

@ajkeat, thanks for your info about EGM. The minority shareholders who are unable to attend you can appoint proxy to act on your behalf by either sending the hardcopy of the proxy form to the company registered address OR send the proxy form via email to share registrar OR go online via the registrar website to submit. Pls go to the SCR prospectus to find out more. You can print the proxy form from Bursa website.

Good for CPO 👇
https://newswav.com/A2408_FICrD0?s=A_Im4EmDW&language=en

https://newswav.com/A2408_FICrD0?s=A_Im4EmDW&language=en

@Geniusinvestor , Scientex already has about 77% control in Scipack and there is not need for Scientex to own 100% if they don’t see the business worth more than $2.70 they paid for in 2021 privatization attempt .
In fact , I think Scientex was very generous paying $2.70 for a company at about 20x PE and having NTA of about 64 sen only in 2021 (NA in 2021 was 85 sen , but about 21 sen was goodwill/intangible.
Mphb case is very very different!
Important to analyze the details of each case

@Geniusinvestor , on your counter offer suggestion, I know that some minority shareholders have already written to the independent directors requesting them to seek alternative offers from other bidders for the disinterested shareholding is about 63% of the paid up and alternative bidders can in fact have majority control. If the independent directors totally ignore this request, I suspect these disinterested shareholders may have follow up action . Let’s see how this play out .

It can’t be more obvious that this Millions fellow is a trojan horse hired to put a spoke in our wheel! He is not a genuine disinterested shareholder. Just ignore him.

@Millions ，
Your purpose and intention is very obvious ！
There is no need to communicate with you anymore. Period.

@Millions_at-22,
There will be a MPHB Capital Forum organised by MSWG once the SCR is officially tabled. (As at now, the proposed SCR is still in the hand of SC for approval) . Pls get as many to participate the Forum where a great deal of information and analysis will be exchanged that shall be very helpful for many disinterested shareholders to make up their mind whether to vote for or against the very low SCR offer price of $1.70.

Many unhappy shareholders have written to MSWG to step in . Some have also written directly to the 3 independent directors of the company to express objection to the $1.70 price . May I suggest you do the same as soon as possible too. In your letter, it is good to declare the shareholders' name , shareholdings and make known what price level is deem acceptable to your group. (my group prepare to accept $2.40 ). (Names and contact of independent directors are available in the Annual Report 2023).

My group of friends have considered all factors and hold firm our stance to reject the SCR at $1.70. We have reasons to believe that the Net Realizable Value (NRV) of the company is absolutely irresistible to the offerer who don't really have that much time to wait.

Let's look at the numbers below :
Net Book Value (NBV) of the company as at 31/3/2024 is $1,712 mil
No of paid up share (net of treasury share) 702 mil unit

Offer's (interested party) shareholding 262 mil unit
Disinterested shareholdings 440 mil unit
---------------------------------------------------
Total 702 mil unit
================================

Offerer is offering $748 mil to buy up Disinterested 440 mil share at $1.70/share
Offerer shall take the balance NBV of the company ( ie $1,712 mi - $748 mil) = $964 mil or equivalent to ($964mil/262 mil share) =$3.68/share.

Therefore, the proposed SCR distribution BASED ON NBV is $3.68/share for offerer and $1.70/share for disinterested shareholders. Fair ? Wait !!

You will be shocking to see how unfair the distribution if you consider the NRV of the company. We have very strong reasons to believe that the NRV of the company is conservatively worth $3,500 mil !!! ( Don't have to believe me! . Analyse each and every assets to see it for yourself)
Based on NRV of the company of $3,500 mil, The proposed SCR distribution : Disinterested shareholders get $1.70/share.
The offerer gets (3,500 mil -748 mil =$2,752 mil)/262 mil share or $10.50/share.

Therefore, the proposed SCR distribition BASED ON NRV is $10.50/share for offerer and $1.70/share for disinterested shareholders. Justifiable ?

Will the offerer make another attempt quickly if he can't get his way this round? The answer is on the wall.

For further discussion, you may provide your email contact via MQ Chat in i3investor. We will take it from there.

THplant produced 16% more (+47,341 mt) of FFB during 1st half 2024. If the production for 2nd half achieve similar rate of increase, profitability should be significantly higher this year .

IOIPG is paying $165 mil , equivalent to $829,145 per room for the 199 rooms courtyard by Marriott Penang.
Flamingo hotel by the beach at Batu ferringi , 280 guest rooms is having book value of $33.89 mil only

Flamingo hotel by the lake at jln ampang, KL, 250 guestrooms sitting on 12 acres land has book value below $25 mil!
From above , you can see that the NRV of the hotels is many times higher than book value. This applies to all assets of the company.
And that someone even fail to offer $2.40 per share which is the book value . This is not acceptable to my group of friends.

@Geniusinvestor, most of friends invested in this stock many years ago , some as long as when the demerger of multi purpose holdings Bhd took place as they believed in the value of the assets.
The timing and their cost of investment is immaterial so much . It is the net realizable value of the assets vis-a-vis extremely unfair offer price of $1.70 causes the unhappiness.

If you are member in other share trading forum , pls share the information too

https://drive.google.com/file/d/1UZMr2JbwWTKsa7wDwVQ6oOrlvEXi0c3G/view?usp=drivesdk

Pls see the link below on MSWG planning a forum on MPHB capital SCR. The date and venue to be announced once the Independent advisor report is out . Pls share with all your friends/ contacts


https://drive.google.com/file/d/1UZMr2JbwWTKsa7wDwVQ6oOrlvEXi0c3G/view?usp=drivesdk

@speakup, you may have missed the announcement on 11 July .

Plantations can generate continuous streams of earning from optimizing low performing land bank .

As the push for green energy is the way forward, you will see more plantations to diversify its land use into renewable energy. IOI , JPG and more to come..

PETALING JAYA: IOI Corp Bhd is currently evaluating potential landbank monetisation for some of its aged plantation land areas for renewable energy (RE) development, says RHB Research.

The research house said in a report that some that could be suitable would include a 2,000ha to 3,000ha land in Tangkak, Johor and 1,000ha in Pahang.

“The company could potentially rent the land as well as operate solar assets, either on its own or with a joint-venture partner,” it added.

@opportunate, I concur with you . There was about 7 million shares voted against the various resolutions and re-appointment of various directors in recent AGM. We don’t know who they were and they were not part of my group of 27 mil shares . If these 7 mil shares shall vote against this SCR and coupled with a few mil shares collectively hold by few of you may be sufficient to frustrate the SCR.
There are many more silent corporate and individual shareholders out there and some may vote against it too.

Endgame, we only need a total of 40 mil shares to block . This is because, only 400 mil shares held by disinterested shareholders entitled to vote .

No need to fear monger every now and then . Those who are fearful of price tumbling in the event of unsuccessful SCR should sell now . Afterall, your opportunity loss is merely 7sen !
Fair enough?

My group of friends collectively hold about 27 million shares now will vote against the SCR.
Everyone is free to decide what is best for oneself.

@TheContrarian, as at 31/3/2024 cash +near cash assets amount to about $780 million. Zero borrowing.
In the offer’s notice , it is stated the the SCR is funded by internal resources and borrowing.
Mphb capital has zero borrowing can take some bank loans to pay off the entitled shareholders if internal funding fall short.