After privatization of Bstead , LTAT/bstead will revisit the disposal of Bplant??
https://www.bharian.com.my/amp/bisnes/korporat/2021/07/836499/boustead-pertimbang-jual-syarikat-perladangan

As at 11 April, LTAT only secures about 75% from open market purchases and from the acceptance .
Judging from today’s price movement and the very low sell orders above 85.5 sen, LTAT shall face uphill task to get 90% by the closing date . LTAT better listen to all the remaining minority, especially the corporate shareholders to close the price expectation gap.
Book value of boustead is about $1.60. Realizable value of all the assets is much higher than $1.60. It is palatable for LTAT to even consider $1.20 as their gain will eventually be very huge and it doesn’t cost LTAT a bomb to up the offer for the remaining 25%.

Interesting show this morning!

Following the disposal of 40% in Rimbayu for about $500 mil , the CEO recently said that the company has sufficient fund to complete the highway. As such , the indication is no more RI.
For the debts which are all long term debts, the repayment is not problem at all if Toll collection reaches the projected or higher level . Based on the frequent heavy traffic and congestion at PLUS highway and continues grow in traffic volume, TOLL collection for WCE shall surpass projection .

If you don’t need the cash No hurry to sell or accept the offer before 8 May. Just hold out until then to see what happens. Just my view

Posting date is 23 March
1st closing date is 22 May ie 60 days from posting date.
Revise offer ， if any , to be declared by 8 May ie 46 days from posting date .

Dumb8888, you may go to below link to Bursa Malaysia website . There is daily update .

https://www.bursamalaysia.com/market_information/equities_prices?keyword=BOUSTEAD+HOLDINGS+BHD&top_stock=top_active&board=&alphabetical=&sector=&sub_sector=

After settling Boustead (hopefully at higher price), direct my fund to Bplant. I think quicker asset monetisation activities will happen in Bplant satisfying LTAT’s objective of realizing higher shareholder’s value and generating cash which are needed for paring high debts in LTAT and Boustead holdings.
LTAT will effectively control 68% Bplant after Bstead privatization ( 10.6% LTAT + 57.4% thru boustead holdings). Generous dividend payout from Bplant is expect to ease LTAT and boustead debts burden. Just my view

After settling Boustead (hopefully at higher price), direct my fund to Bplant. I think quicker asset monetisation activities will happen in Bplant satisfying LTAT’s objective of realizing higher shareholder’s value and generating cash which are needed for paring high debts in LTAT and Boustead holdings.
LTAT will effectively control 68% Bplant after Bstead privatization ( 10.6% LTAT + 57.4% thru boustead holdings). Generous dividend payout from Bplant is expect to ease LTAT and boustead debts burden. Just my view

Most minority shareholders who were willing to accept the offer would have sold in open market at the same price instead of holding out . I guess the remaining are not easily giving in without a ‘fight’. Just my view

@beluga, I guess LTAT is trying to feel if they will achieve at least 90% .

As at 3rd April , LTAT owns 74.3% only . The chance to secure at least 90% control looks very challenging.
There is still about 540 mil shares in minority hands . Assuming LTAT has to revise the offer to $1.00 that will cost LTAT another $78 mil only . You think LTAT will give up the privatization because of additional $78 mil ?
Minorities who have sold in open market will not be entitled to any price revision.

Heavy traffic and congestion often happen at plus highways from KL up north . It will only get worst and thus benefit WCE. Moreover, it is shorter distance from Klang to Taiping vide WCE.

Total traded today is 1.606 million shares , out of that about 1.175 million shares are bought back by the company.

As Malaysian stock market get more depressed in 2023, I suspect privatization offer is not far away . Just my personal view

The selling at 85.5 sen seem disappear today.

Minorities who are willing to accept 85.5 sen would have or will very soon be selling in open market at same price .
Just monitor the volume LTAT able to soak up in the next 1-2 weeks to assess if LTAT shall get at least 90% acceptance to force the remaining minorities to give in .

@TheContrarian, I can wait for another few weeks . The opportunity to pick another potential counter is always there .

Pls read the takeover offer letter to Bstead dated 2nd March . Some of the conditions and periods of offer are all stated there . The offer is valid for 60 days from the posting date of offer document. For revised offer , it has to be made within 46 days from the offer document which will be posted to minorities within 21 days from 2nd March , the day Bstead is notified of takeover offer .

I think it is too early to rule out that LTAT will not revise up the offer price within the 46 days from Offer Posting Date . At least LTAT has not ruled it out. It all depends on the offer acceptance level .
I rather accept LTAT ‘s offer vide the offer document than to sell in open market now . In the event that LTAT decides to up the offer to secure at least 90% control, those who have accepted the offer earlier will get the higher price , but not those who have sold in open market.

High debts of Bstead is not a issue . It is LTAT that is offering to buy . NA is above $1.60. Realizable NA could be much higher . LTAT knows that very well .

The offer to buy from me at 85.5 sen is there already. I shall wait a little longer to see the acceptance level . I hope for price revision up if the see acceptance level below expectations.
Patience pays off .

My guess is GO acceptance level at 85.5 sen is not going to be good and GO price revision may come .

If GO acceptance is poor, LTAT may up the offer price along the way .

LTAT making voluntary general offer to Bstead minorities at 85.5 sen, not a full privatization scheme. It may be a two stages privatization .

LTAT will increase its ownership in Bstead but may sill not be able to fully privatized it.

It is a voluntary takeover offer, not a full privatization scheme.

Speakup, I am still around and hanging on to my shares . I stay quiet as there is nothing new to share .

LTAT privatizing Bstead holding
Will Bplant be next or will it be sold to extract maximum value for LTAT?

Finally it comes ?

@ TheContrarian , Is he ? I don’t have information pointing that he is .

It was a MCA counter. No more link to MCA since SU bought into multi purpose even before the demerger .

I will follow you 。Thanks.

Posted by TheContrarian > 5 hours ago | Report Abuse

@Johnzhang, join me at Mycron.

@TheContrarian,
Thanks. Good profit or not is rather relative . Any profit is good profit to me . Cheers .

Posted by TheContrarian > 6 hours ago | Report Abuse

@Johnzhang, happy for you to know you made good profit.

@TheContrarian, I better offload all now and pocket good profit when I see the psycho Jerichomy is here. This guy is a mad dog!

@TheContrarian, I started selling from today only . Can still hold longer ?

Can anyone be so sure if the share price would move up if 40sen is paid as dividend rather than capital repayment ? The share price didn’t respond may be for a different reason. Upto everyone to speculate.

Whether the 40sen payment is as dividend or capital reduction the end effect to shareholders is the same . What matters most is the quantum .

Senile KYY is even more hopeless.

The market slapped senile koon real hard!
He doesn’t understand a single thing about oil palm plantations business.

@opportunate. I think you have a sound and clear strategy . I am sure your clear and calm approach and your patience will be off by next year.

Mphb to go down to 45sen ? It’s a Wishful thinking.

About 1,800!lots at $1.38 taken up in last 1 hr by someone. SU or his gang in action?
Aiya! Minorities always got swallowed by controlling shareholders..

@chkhooju, is that you who walloped the big lot at $1.38?

Hahaha… The blocker’s 1,600 lots at $1.38 got eaten up by others ?

This stock seem boring , but it is very resilient during current bearish and nervous time . Many hot stocks already suffered 30-50% price drop in the past 5-6 months, but this one is shielded.

On any day, those who need to sell for their own reason they will sell . No need to panic for the day to day price movement.

5 acres of land at Jalan imbi , at the heart of KL at $3,000 psf is $653 mil or $0.90 per share.

Next interesting event is privatization . It is reasonable to think that SU will exploit the weak market condition in 2022/23 to make the move . I think a reasonable but unfair offer is $1.80 to $2.00 after capital repayment. Anything lower will see many unhappy investors rejecting it.

SU will receive 45sen x 266.15 mil share = $130 mil cash that he can use to buy more MPHB cap share from open market.
Based on today’s closing price of $1.43, the ex capital repayment price is theoretically $1.03.

$130 mil cash can buy him 126 mil more shares at $1.03 and he is anxiously waiting for good buy .