There is action behind the scene to check the price from rising too quickly and too high . The bid price and subsequent mandatory GO must appear to look very good mah…..

Putusamy, liewkitkong, cikpurnama22 , garethball are same person ?

Brian, if you just want spoon feeding, just let it be!

Brian,
for the mandatory GO rule, just google for all the information you need .

Aiyo! Brian, the acquirer must extend a GO to the rest of shareholders at the same price ! It is a rule . Seem you are in denial mode !

Albukhary,
Absolutely! The deal is alive.

The reply is a big contrast to how they replied to the news on BHPetrol potential disposal.

Speakup,
there is a camp who have off loaded Bplant at between 60+ sen to 90+ sen and you don’t expect them to say anything positive.
For me, I can accept that price falling back to 70-80 sen if the impending M&A doesn’t come thru .
CPO prospect (presently $3,700+) is improving. Although CPO price this year is visibly >RM1,000 lower than avg of last year , fertilizer cost which is the key component of cost of production is 50-60% lower than last year . Labour is abundant now to harvest the fruit. Hence , operating profit will be positive and reasonable dividends can be expected.
I rather not bet against the potential M&A and lose the opportunity of reaping handsome gain .
Everyone has own investment strategy and there is no absolute right or wrong.

Calvin,
Enough said about Bplant’s valuable assets. The money is still not yours until it is in your pocket.
You should tell all your followers when can they see the money and at what price. $1.30, $1.50, $2.0 or $2.50 ? Your followers can not wait indefinitely and in the end get a short end of the stick like in the case of Boustead Holding.

Neither LTAT, Boustead or Bplant has come out to deny the media reports. Likewise, those potential acquirers like KLK, IOI, YTL whose names are mentioned are keeping silent too.

Apparently, the retailers are selling aggressively today and last week too. Who are the buyers for such large volume? I guess they are parties who knows what is going on .

Considerable volume done at $1.01 in the last 10 mins after price fixing. There are buyers at $1.01 but no more seller . Very strong closing

KLk takeover offer for ijmplant was based on 1.9x book value.
On the same multiple , Bplant should fetch 1.9 x $1.30 = $2.47 .
No doubt that Bplant’s plantations are in poorer condition. However, all its lands are in Malaysia where land cost is considerably higher (iJM has about half in Kalimantan). Additionally, Bplant has large track of high value development land in west Malaysia.

Just for discussion purposes.

I believe the potential takeover price by third party may be closer to $2.50 as I take into consideration the large track of development land that can be monetized for huge sum . The acquirer can recover a significant portion of the sum spent by monetizing some of the development land .

The news on possible takeover by third party is already published by the main media . Let us see if Boustead is coming out to deny it as it has done so quickly on BHPetrol .

I think KLK or IOI would be very happy to offer $2.50 per share to fully acquire Bplant .

@Dragon328, it’s a comprehensive insight into Bplant . Thank you .

Brian, how now ? What’s your strategy?


Brianklc wrote ;
The intention of the buy and sell queues are to give wrong signal to street investors, the same number of shares keep recycle, hint, look at the velocity of the transactions, I see at least 3 person interpret it wrongly. Anyhow, offload will complete soon, then reality will come fast and furious…

Some kena trapped to sell their share at low prices ?

Calvin,
1. LTAT had such an easy time to successfully privatize Boustead is simply because almost all of the minority shareholders threw in the towel VOLUNTARILY without a fight . I think they got fed up .

2. What’s in Bplant that attracts these ‘fed up’ ex Boustead shareholders to shift their fund here despite the bitter experience In Boustead ?
2.1. Certainly not because Bplant has better management quality! Just look at thier dismal operating results without extraordinary gain .
2.2. Certainly not because they like palm oil business as there are many undervalued good plantation counters out there more worthy to pick.
2.3. Certainly not solely because of Bplant’s undervalued assets. There are many more listed companies in Bursa presently trading at merely 20-30% of NRV. If there is no interest from controlling shareholder to undertake any corporate exercise or asset monetisation or privatization, minorities are just waiting in vain.

Something to ponder!

Strong closing at 89sen with considerable volume traded (16 mil share). I think it is a good sign .

As buying at 88 sen grow stronger , those high queue to sell at 89, 89.5 and 90 Sen disappear now. Very interesting!

Unusual high volume of queue to sell at 89, 89.5 and 90 sen. It appears someone trying to ‘suppress’ the price to collect cheap tickets ?

@miracle_trader, let me just explain to Brian for the very last time.

Mr Brian, when I said they will buy up the minorities first then only divest the valuable asset , I only mean LTAT/bstead will privatize thru a GO to minorities at $x price. Buy so doing , LTAT/ Bstead will benefit a lot more from monetizing the assets after owing 100% in Bplant .
You got to think laterally!

Brian, did I said Bstead /LTAT are the parties buying up Bplant from open market in the past few days ???
I think you are quite confused of what I said .

Brian, “ they “ can either be LTAT or Boustead . Boustead is now wholly owned by LTAT. There is no difference.

rohank71, you may be right . Boustead has just denied Bloomberg’s report that it has started the process of divesting BHPetrol. Judging from BPlant’s trading behavior, it could well be Bplant instead .
$2 bil for 1.286 bil share owned by Boustead (excluding those held directly by LTAT)??
That works out to be around $1.55 per share.
Just for general discussion purpose only . Not a buy or sell call .

In the case BHPetrol, LTAT bought up the other partner (don’t know how much was paid) , then only look to divest it for a huge $2 bil price tag .
For Bplant, I assume that they will also buy up the minorities first , then only divest the valuable assets .
Minorities got to be smarter this round for not giving in easily and cheaply.

Below news, though not related to Bplant, is indicating LTAT/Boustead is on divestment spree. Bplant is on the card .

June 15): Boustead Holdings Bhd. is considering divesting its gas stations in Malaysia and is seeking as much as RM2 billion, according to people with knowledge of the matter.
The Kuala Lumpur-based conglomerate is working with an adviser to sell Boustead Petroleum Marketing Sdn., also known as BHPetrol, the people said. Oil and gas companies as well as investment firms have shown interest in the deal, the people said, asking not to be identified as the process is private.
The move comes after Boustead, whose backers include the country’s armed forces pension fund Lembaga Tabung Angkatan Tentera, bought out the other shareholders of BHPetrol, one of the people said.

Wild swing from 76sen to close at 82 sen.
Those who panic sell cheaply in the morning are wondering what to do now .

Bursino, you may ask yourself why Bplant is still worthwhile for you to hold on until now . You have the answers

LTAT has no intention to keep and grow the plantation business for long term . LTAT will dispose it , either in one piece or in multiples deal.
About 50% of the estates are over 21 years old and yield is declining year by year . Hence the prospect of reasonable profitability purely from operations is not bright at all . The Management doesn’t seem to take serious action to address this problem over the last many years .

Brian, if you are looking for long term and sustainable plantation segment, Bplant is a lousy choice. There are many good candidates to pick eg Ta Ann, SOP, UP ,Klk etc.

Bursino, better stay out of Bplant if you don’t see anything good coming.

That means LTAT’s transformation is going to be rapidly implemented.

Key words
- ramp up the value creation exercise,
- expeditiously.

Below is what LTAT ‘s CEO said yesterday after announcing the successful privatization of Boustead:

“Next on our to-do list is to ramp up the value creation exercise by having greater alignment of strategies between LTAT and all levels across the group. The wholly-owned model allows LTAT to exercise full discretion and dive deep into the conglomerate’s pain points expeditiously.“

Haha… Nothing wrong to think ,suspect and speculate . It is very normal for anyone to form a view based on public information available.

Please share with us your concrete information leading to your belief that it was shark’s manipulation. Or it is your pure speculation too ?

From Boustead holding privatization experience, LTAT knows there is no better timing to privatize Bplant cheaply than now .

To fund the privatization, I think LTAT has enough resources. I suspect negotiation for some major land/estate disposal may be concluded soon and the proceeds will come in very handy to pare down loan .

I think privatization will happen before any major asset disposal concluded as LTAT hope to pocket all the disposal proceeds.

Hi Lube, LTAT had too easy time taking Bstead Holdings private at low price . They think the extremely bearish Bursa now is very good timing to do on Bplant . Question is at what price ?

John, that option has been considered several years ago.
https://themalaysianreserve.com/2021/07/08/boustead-to-mull-options-for-palm-oil-unit/
Is the time ripe this time?

I still think that LTAT will soon monetize the deep value Bplant . Plantation is not yielding a resonable and sustainable return to them and furthermore they don’t have expertise to manage plantation business or any businesses for the matter.. LTAT will eventually be a diversified portfolio investor like EPF and PNB.

Brian, it there possibility of someone taking position based on insider’s information?

brianklc, thanks , I learn something new .

Brianklc, 90% remaining balance was received in Feb 2023. I thought the disposal gain would only be realized upon receiving full payment. I can be wrong in my assumption.

5sen interim in qtr 1 is really not bad .

News that BP is taking over Pharmaniaga , an Boustead /LTAT company. More divestment is going to come .

Q1 operating results may just be breakeven due to low yield season. However, there is about 3 sen gain from small parcel of land disposal. As such , 2-3 sen dividend may still be possible.
We have to look beyond the qtr results.
I seriously think that Bplant will be partially or wholly divested after Bstead Holdings privatization. LTAT just want to be a diversified portfolio investor in Malaysia and global markets.

Look out for the announcement that the takeover offer being declared unconditional. After the offer being declared unconditional, we still have at least 14 days to accept the takeover offer .
Do you own analysis and make your own decision.

The share price is still far below the highs of $1.60+ in 2017 when the project is at early stage . It is still well below the price of $1.30+ both Surin and Pang paid to acquire their stake (before RI adjustment).

https://newswav.com/A2304_paGZdX?s=A_SW0aQXV