When THplant makes substantially higher profit, you can be sure that dividends will be correspondingly higher . Lenbaga TH needs as much dividend as possible to even sustain 3% interest payments to its depositors . Same case like Bplant before .

Significant improvement in profit will drive share price substantially higher .
All you need is conviction and patience for 9-12 months.
Just my view .

FY2024 is likely to see quick significant improvement in Profit .
Reasons are :
(1) Revenue will increase by double digit arising from higher FFB production and higher realizable selling price .
(2) higher fair value gain compare to 2023
(3) lower cost of production due to 50-60% drop in fertilizer and pesticides prices

Just about 500k share traded for today to bring share price up 9%. Seem very few willing sellers.

Mnrb is a growth stock . Its revenue increased at compound rate of 12-14% per year since 2019. Its revenue has surpassed Takaful in FY 2023/24. EPS for FY ending March 2024 may hit 35sen ( vs Takaful’s 41 sen).
Hopefully, it is ripe for substantially higher dividend from now on . I believe PNB which control this company will make it happen.

@MarketNavigator, no it wasn’t. It was actually traded on Bursa.
If I am not wrong, OTC (over the counter) usually applies to trade of unlisted share carried out by brokers .

The huge volume on last Thursday was contributed by some ‘unusual’ trades immediately after the price fixing. About 13 mil shares changed hand at 96 sen almost all at 4.50pm . It appears to be a married deal between parties at 96 sen.

Will Rashid Hussein who takes over as Chairman of Lembaga TH just recently bring new life to TH?

I started accumulating this share 2 weeks ago . Now seeing 10% paper gain .

@TheContrarian, the market is listening you . 😄

Share price holding well after 21sen jump yesterday. Looking good for some corporate activity to happen. I guests it is ripe for PNB to bring out MNRB’s real worth .

Book value is $3.56 per share .

Don’t rule out PNB/ASB is selling a portion of their holdings to third party and the deal shall be priced not lower than book value.

Something is brewing? M&A or something else ?

34 km Duke is said to value at RM2.835 bil.
How much is the 233 km WCE shall worth ?

https://newswav.com/A2402_mjTaAf?s=A_lFAUwQd&language=en

I have been holding this stocks for years and is prepared to wait a bit longer

For the share price to spike , the company just have to improve its dividend yield and maintain a consistent payout ratio even if it is 50% .

Weak holders already eliminated in the last few days?
If so, I think better days ahead for WCE run up to CNY

Although WCE is lose making but fundamentally it is very different from those fundamentally weak LD counters . There is clarity in WCE business and prospects .
Glad to add some at 95.5 sen average yesterday.

Anyone yet to receive payment after 10 days can write a complaint to CFO of LTAT at ashrafradzi@ltat.gov.my. May also call him at 03 48158888 ext 1200.

Per announcement on 29 Dec, LTAT holds 85.6% in Bplant only . Seem contradictory to earlier announcement that LTAT secured 90%. Can anyone explain?

My 1st TP of $1.00 by 31/12/2023 is achieved.

Poor service of the Registrar!
If it is true that Bursa did not allow such facility, Bursa is being unreasonable !
Why payment of dividend via bank a/c registered in CDS allowed ?

Kpchia, go ahead to accept the offer. In the event that LTAT sweetens the offer working towards 100% control you will also get the increase.

WCE has moved up from 75sen one month ago to 97sen this morning ie 29% gain in a month !

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Posted by Johnzhang > 1 month ago | Report Abuse

I plan to move substantial of the proceed to WCE for at least 2 years holding.
You won't go wrong with this major highway tolling business .

Mr Calvin Tan,
Do not simply brand people foolish. It is up to individual on risk taking !

with due respect , yourself is IGNORANT on the term for compulsory acquisition . Please at least read the takeover offer document carefully BEFORE ADVISING PEOPLE !
Quote :
Subsection 222(1A) of the CMSA provides that, for the purpose of paragraph 222(1)(b)
of the CMSA, the acceptance shall not include shares already held at the date of the
take-over offer by the offeror or the person(s) acting in concert.

In the event the Offeror receives valid acceptance of not less than nine-tenths (9/10) in
the nominal value of the Offer Shares (excluding shares already held by the Offeror and
the person(s) acting in concert with it as at the date of the Offer) on or before the Closing Date, the Offeror intends to invoke the provisions of subsection 222(1) of the
CMSA to compulsorily acquire any remaining Offer Shares from the Dissenting
Holders for which acceptances have not been received.
Unquote:

LTAT and person acting in concert held 68.17% before LPD. That means 31.83% are in the hands of the public. To invoke compulsory acquisition, LTAT must receive acceptance from (9/10) 90% of the 31.83% (90% x 31.83% = 28.65%). That means LTAT (including party in concert) must finally secure control on 96.82% (68.17+28.65) to invoke compulsory acquisition.

Investors behind UBS alone is sufficient to block the compulsory acquisition !

Bplant will be delist, It may remain as unlisted public company if there is enough dissenting investor refuse to accept the offer at $1.55!

The conservation valuation made by Malacca Securities, the independent advisor, is $2.60.

Why you think inventors behind UBS bought over 5% at $1.54/1.55 ?



You

Questions are :
What will be LTAT's reaction?
a. to increase offer price to a level satisfactory to dissenting investors to successfully privatise Bplant ?
b. to maintain offer and accept some dissenting investors to remain as shareholders for a period of time ie no 100% privatisation ?
c. in case a competing offer surfaces, BHB and/or LTAT to dispose a portion of their shares to the competing offeror which shall be higher than $1.55 , the price KLK agreed to pay ?

and UBS alone already hold 120 mil shares !

Very exciting development indeed.
Irrespective of who is behind UBS, I think the ultimate objectives of the parties are :
1. to "force" LTAT to up the offer price and hence make easy profit. OR
2. to eventually come out with competing offer trying take control of Bplant.
Minorities excluding offeror and parties acting in concert holds 716 mil shares (or 32%)
You need only 1/10 of the 716 mil shares (or 71.6 mil shares) to block privatisation plan of LTAT.

I notice that a few Thai names in the top 30 list has increased their shareholding over last financial year .

If you have holding power for at least 2 years, i think there shall be very handsome gain to make.

Is a merger /consolidation between Takaful and MNRB realistic?

@Tlticamara,
The whole process is expected to be very short ie within 1 month period.
The takeover offer documents will be posted to you within 21 days from 10/11/2023.
Once you received the documents , sign the acceptance form and have it returned. You will be paid in full within 10 days from receiving your acceptance form.

Tlticamara wrote on 10/11/2023 :
How long will this take over process takes?

Some corporate exercise is ripe for this laggard which is majority own by PNB. It shall fetch many times higher than its capitalization amount should PNB decides to monetise it.

I plan to move substantial of the proceed to WCE for at least 2 years holding.
You won't go wrong with this major highway tolling business .

Patient and conviction finally pays off handsomely !

Tok Mat said this in parliament :
KUALA LUMPUR – Langkah Lembaga Tabung Angkatan Tentera (LTAT) meneruskan tawaran am untuk pembelian Boustead Plantations Sdn Bhd (BPlant) bertujuan untuk memastikan proses penstrukturan semula syarikat itu dapat diteruskan.

“Langkah itu untuk memberikan autonomi serta flesksibiliti kepada LTAT dalam menentukan hala tuju strategik serta meningkatkan potensi operasi Bplant dalam menjalankan aktiviti tambah nilai, sekali gus merealisasikan potensi maksimum syarikat itu,” katanya di Dewan Rakyat, hari ini

Is LTAT mopping up discounted Bplant share from open market thru "proxy" like an investment bank ??
Bplant is a very important part to solving the debt woes and to successfully transform LTAT under the program 2023-2025. Hence, privatisation of Bplant must succeed!

Sorry for the panic and ill -informed retailers for throwing out good money on 2nd Oct (Monday) when Bplant was sold down to low as $1.17 !
Just for readers information, the net short position of Bplant on 29th Sept (Friday), one trading day before the selldown, was over 40 million share and the closing share price was $1.46.
All the shorts were cover on 2 Oct on he selldown day! Why ?
The short sellers made huge profit covering their short position at low prices on 2 OCT!

I must admit having benefitted from buying substantial volume during the 2 Oct selldown and now making handsome gains in just a week!

Conviction and patient pays off. But you must do enough homework !

Government loan guarantee issued and its specifically for the MGO.
MGO by LTAT is a done deal and is going to happen within weeks !

On 9th Oct (Monday), NO RSS , but IDSS only 85K share!
Similarly almost zero RSS and IDSS trade on last Thursday (5th) and Fridays( 6th) after the trading suspension lifted.

The nett short position for past 3 trading days was consistently 3+ million share only.

Those "professional" short sellers dare not short Bplant !
What does this tell you ??

In yesterday's trade, big blocks were done thru' Affin-Hwang , a subsidiary of Affin Bank.
Any significant of this ??

Important points raised by Tok Mat in Parliament yesterday :
1. 50% of LTAT's investment funds are "trapped" in the Boustead Group and its performance is almost "entirely dependent" on Boustead's financial position.
2. Boustead's liabilities amount to RM6.8bil.
3. Among the debts that have to be serviced in the near future include RM159mil credit repayment, perpetual sukuk redemption amounting to RM607mil in December and Islamic Medium Term Notes repayment of RM1.65bil in September 2024.
3. At this juncture, the Boustead Group is undergoing cash flow problems due to pressing obligations to service its legacy debts. Therefore, the Strategic Plan 2023-2025 (Manpan25) which was launched in July was crucial.
4. In case the restructuring cannot be implemented, Boustead Group will not be able to service its financial obligations and this will trigger a cross-default on all borrowings under Boustead Group amounting to RM6.8bi.
5. Boustead will then be at risk of going bankrupt and LTAT's fund value will depreciate by close to RM5bil.
6. Paring down Boustead holding is crucial .Among them are the diversification of assets by 50% and only limiting asset holdings in Boustead to 15%, increasing the asset liquitability from 20% to 60% and recouping LTAT's investment in Boustead which can later be reinvested in competitive assets which will ensure sustainable returns.
7. As a retirement fund, LTAT should prioritise asset diversification and not hold substantial investment in certain investments which are not in line with the actual model of a retirement fund.
8. We are very strong but we want to free LTAT from being trapped as an investment fund when it is supposed to function as a retirement fund.

The Cabinet has approved and MOF has Approved the $2 bil loan guarantee !
That's how fast they act. I expect the MGO to come very fast too.
-------------------------------
In The Edge :
KUALA LUMPUR (Oct 9): The Finance Ministry has agreed to provide a government guarantee for the Armed Forces Fund Board (LTAT) to take out a RM2 billion loan to undertake the general offer it proposed to privatise its 68.01%-controlled Boustead Plantations Bhd at RM1.55 per share.

This was revealed by Defence Minister Datuk Seri Mohamad Hassan in Dewan Rakyat on Monday. LTAT is expected to fork out RM1.11 billion to acquire the remaining 716.66 million shares that are equivalent to a 31.99% stake in BPlant that it does not control.

“In accordance with the Cabinet’s decision, the Ministry of Finance has agreed to provide a government guarantee to LTAT to enable the fund to obtain a loan of RM2 billion from financial institutions to implement the general offer for BPlant,” said Mohamad, who is also the Rembau Member of Parliament.

PETALING JAYA: Defence minister Mohamad Hasan has clarified the government is only providing a “financial guarantee” to the Armed Forces Fund Board (LTAT) and not giving a RM2 billion grant for the fund to buy out Boustead Plantations Bhd (BPlant).

“The finance ministry (MoF) has agreed to provide LTAT with financial guarantees for it to obtain a RM2 billion loan from financial institutions to implement the (mandatory) general offer (MGO).

Now, LTAT will have to fork out approximately RM1.11 billion, at an offer price of RM1.55 per share, for the remaining 716.8 million shares, equivalent to a 32% interest, that it does not own.

Mohamad had previously said BHB, which was privatised by LTAT earlier this year, needed RM800 million by year end to meet its debt obligations.

Adding this RM800 million to the RM1.1 billion that it needs for the MGO, LTAT would have been in an extremely tight spot to raise almost RM2 billion.

The government’s move to provide LTAT the financial guarantee to raise up to RM2 billion will give some respite to the beleaguered pension fund.

@UncleFollower, you have 2 others options to pick : Hadi or Tun M . One promises to bring you to heaven and the other to bring you down to the drain. 🤣🤣🤣

-------------------------------------
UncleFollower wrote:
@speakup but but but...if there was one PM I personally really couldn't stand, it has to be Mahiaddin

I hold the view that the MGO is real.
Although NA may be just $1.28 /share, the realisable market value of the assets is 2-3 times higher than NA which is always kept at historical price. So, paying minority $1.55 is real cheap. Just look at the % disposal gain Bplant earned in the past many land disposals to convince yourself. Remember that land is scare and price is high.
After GO, the assets can be disposal in smaller parcels , quicker and out of the radar of the public.
LTAT /Boustead is chasing after time to resolve their heavy financial woes and to ensure annual 5% return to members from this year. With bridging finance from the government, LTAT has no time to waste but to do the deal fast .
If monority drag the "aborted" GO to the court, the trial will derail the transformation plan of LTAT which is the last thing they want to see.

The key words are "potential legal risk " , "legitimate".

In NST today.

KUALA LUMPUR: The Armed Forces Fund Board (LTAT) assumes the role of the buyer for Boustead Plantations Bhd (BPlant) to safeguard market integrity and fairness, according to chief executive Datuk Ahmad Nazim Abdul Rahman.

Under the strategic collaboration agreement (SCA), LTAT was a party to the joint offer with Boustead Holdings Bhd and Kuala Lumpur Kepong Bhd (KLK) for the remaining shares in BPlant.

"We stepped in to be the buyer of BPlant to mitigate any potential legal risk and to protect the integrity and the principle of fairness imbued in our capital market.

"This, as advised by our lawyers, gave rise to a legitimate expectation on the part of the minority shareholders that the mandatory general offer (MGO) would proceed," he told Business Times.
Ahmad Nazim added that LTAT has sufficient funding to undertake the MGO.


Disclosing the reason for the collapsed deal, he said it was due to Boustead's inability to meet the conditions precedent to the deal.

Some see the LTAT-KLK's SCA9 (if go thru') as doing a big favour for LTAT at generous price. Let me tell you that KLK IS NO ANGEL! For those who has long enough business experience with KLK can tell they are very shrewd and calculative businessmen.

KLK and Boustead jointly own Applied Agriculture Research (AAR) which provide agronomy advisory to both KLK and Bplant. Thru' AAR, KLK has full and accurate information and assessment on Bplant's estates which other bidders don't have. KLK went into the SCA with the knowledge that there was big gain to be realised eventually and of course they have the expertise to do it.