45sen

how about kfm. privatisation news

Lets swift leesk to kfm. kfm privatise news at 45sen in the star
KUALA LUMPUR: Kuantan Flour Mills Bhd (KFM) has entered into a heads of agreement (HoA) with a major shareholder of NEP Holdings (M) Bhd in an exercise that will see the latter emerge as a substantial shareholder if the proposed deal is approved. The exercise will see KFM acquiring assets from NEP in a reverse takeover (RTO). It will result in Lim Chang Huat, the major shareholder of NEP, emerge with an interest of more than 33%, triggering a mandatory general offer (MGO) for the rest of the shares he does not own at 45 sen each. According to a filing with Bursa Malaysia yesterday, NEP is involved in assembly, leasing and trading of water filtration system products under the “Diamond” brand. KFM said it had entered into a HoA with NEP’s vendor, Lim, for a number of proposals to facilitate the RTO, which included the creation of a new entity (newco), and securities exchange between the newco and KFM. Under the scheme of arrangement, it is proposed that every three existing shares in KFM will be exchanged for one new share and one warrant in the newco. The existing KFM warrants will be exchanged with warrants in the newco. Subsequently, the listing status of KFM, which used to be aligned to former corporate kingpin Soh Chee Wen, will be transferred to the newco, which will then acquire NEP for a purchase consideration to be determined later. The acquisition shall be satisfied by the issuance of such number of new newco shares at an issue price of 45 sen each to the vendor, which is why Lim has to undertake a MGO at the same price if the deal is approved. It said Lim will be seeking for an exemption from the obligation to undertake the offer upon the completion of the proposed acquisition. One of the salient terms of the HoA is that both parties have agreed for their books to be opened up for due diligence. In this respect, Lim has agreed for KFM and its advisers to have access to all its corporate records and would provide additional information on reasonable request for due diligence. The similar access to conduct a due diligence on KFM is also granted to Lim. KFM has recorded a decline in revenue for the past five financial years up to March 31, 2014 (FY14). In the same period, the group has also recorded net losses. It said the poor financial performance was due to, among others, low average selling prices of flour and the fluctuating prices of wheat. “In view of the declining financial performance of the existing core businesses of the KFM group, the board has been actively searching for suitable business ventures to improve the prospects of the group in the long term. “The proposed acquisition will provide an opportunity for the existing shareholders and warrant holders of KFM to capitalise on NEP group’s growth potential in the distribution of water filtration system products and stable financial performance,” KFM said in the statement. KFM said NEP posted a net profit of RM17.25mil on revenue of RM133mil for the financial year ended June 30, 2013 (FY13). Net profits for FY12 and FY11 were RM14.9mil and RM12.7mil respectively. The compounded annual growth rate (CAGR) of the NEP group’s revenue for the past three financial years up to FY13 was about 15.3% while the CAGR for the NEP group’s net profit was about 16.39%.

All matched!! thanks!

strong support at 0.275

30.5 also cant match. mad

i q up to 30. please match

wtf. dun eat up leh.

Support big. I q already. please match

500lots just ikan bilis. 15k only. hahahahaha. later opening i see momentum eat a bid price also no problem

We make leesk fly higher and higher today!!

Lee swee kiat one person already hold about half of their share. now market capital 40mil. in market we only have 20mil to trade. grab earlier. cheerss.

Agree with soyabeannice. Company cash 13mil. Total borrowing just 13mil also. Soon will give high dividend. Good cash flow.

Scomnet will get new project.

Have an important announcement on next tuesday evening. Let's wait for the moment.

No penny will fall before april. All punch hardly. Wintoni momentum truly tomorrow will go until 50sen. Open 42sen already as dow jones rise about 200 points.

PRIVA IS JUST NICE WHEN MYR KEEP DROPING. THEY DID RECEIVE A LOT OF USD. SPIKE ON MONDAY. STAR

rebound!!

tmr will have a technical rebound.

Break resistant tomorrow.

Good quarterly result. Tomorrow grab grab opening. Surely go go go

Target price 0.32. Volume is back

go go go go go

more to come. cheap. target 21sen

tkp1: 5.61sen haven't adjust. actual is 0.7sen

wintoni 15.5sen still cheap. The operator fail to distribute shares. Will at least back to 18sen

Grab tomorrow opening.

tomorrow break out 0.355.

Perisai UMA, time to Thheavy

It will push to high price then they propose right issue again. They need cash urgent.

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