Instead of selling the land , this project will generate consistence cash flow to the company.

If this is true , Surin will be very eager to take the company private to benefit from it.

I'm putting my bet on this by holding to my shares. MPHBCAP has the land size at Pengerang just nice for 500MW solar plant. The location was strategic to supply green energy to Singapore.
Submitting of proposal 25th July. Purchased on paper in April.
Timing jive with price movement and SCR

https://www.skrine.com/insights/alerts/april-2024/malaysian-government-opens-fifth-large-scale-solar

SCR kind of stressful for those holding above the offer price. Before 2015 , the price was above 2. After holding for almost 10 years , force to sell at a lost. Will be a painful experience.
But this is reality in stock investment for minority shareholders

Stay cool. Decide what the best alternative for yourself base on possible scenarios.

Dealing with PN17 companies need to be very patient and calm as the process can take years to complete.

This is my 1st time dealing with SCR.
My focus mainly on technology stocks in Malaysia and abroad.
Taking opportunity from PN17 companies restructuring for hefty return of more than 10x

We can judge ourselves from their report later.

This is SOP. Why not let them do their job and avoid unnecessary speculation ?

Not much you can do here. Jumping up and down won't change anything.

For myself , I will hold on until BOD and UOBKH come out with their decision.
Many other stocks to pay attention to and take opportunity.

Let's wait for the outcome from UOBKH and BOD. Let them do their job.
If you are not satisfy with the offer price , vote against during EGM.
If EGM unsuccessful to turn down the resolution , just get the money and invest elsewhere.
If worry the SCR get rejected and stock price dip , consider to sell now.
If worry after selling the SCR end up with higher offer price , can consider selling a portion. If with higher offer price , can still benefited from the offer. If SCR got rejected and price dip , can buy back at lower price.

Many alternatives to look into , just decide the best options for you

@johnzhang. Thank you very much.

In 2015 , when BOD requested 1 month extension , Surin rejected the proposal. 2018 , he proceed with SCR again for MWE at 1.75 and successful.
At least this round he accepted the extension😅😅

I Status quo until BOD coming up with their proposal either to accept SCR

If you looked at the number correctly , only 50% of shares voted. Out of this 50% , Surin hold 43%.
When I looked at this previously , resolution # 3 , briefly , an investor with 6 millions shared from supported resolution 1 and 2 against resolution 3. Not sure why but interesting.

What this number told us was that 50% of the shares not casting their votes.

As the SCR excluded Surin's 43% for voting , this 50% will be the decider.

If you look at the top 30 shareholder list , 2 funds holding added up more than 10%

@youwin once any majorshareholder collected 90% of the shares , minorshareholders mandatory to sell the holding to them.
Surin holding at around 43%. To get to 90% , he will need to accumulate from the market or convince those in top 30 shareholder lists to sell to him.

So far , very clear to him that he won't get enough by buying through open market unless he raise his price further.

Or until the report from UOB Kay Hian ready.

My advice , hold on with your shares at least until 20th June.

Sharing my thought of what's going on

This is a tussle between Surin and the minority shareholders.

CheckPoint 1: when he set the SCR at 1.70 , he might plan to grab more shares below 1.70. Observing from the transaction volume so far , less than 1% transacted after the announcement.
This should be positive to minority shareholders as everyone holding tight with their shares.

Checkpoint 2 : ex dividend 12th June. Will minorshareholders sell their holding after receiving the 3 sen dividend ?

My take if the transaction volume remain low for next 1 week or so , will be another positive sign for minorshareholders.

Then will test how eager Surin want to push through the privatisation.

My take very simple. Engage whatever resources that able to assist us.
We should patiently waiting for the outcome from the advisory to the board and minority shareholders.

Then our next fight with be during EGM.

We just do what we can.

@johnzhang currently I and few friends holding 2+ millions shares. ( just put 2millions as of now ). Trying to confirm the shareholding of another friend who not reachable as of now.

This will determine how desperate Surin will be for the SCR

*I'm observing either the SCR has something to do with LSS5

My view regarding Pengerang land

Many focus on Oil and Gas. If state governmenttake over the land , the price will most likely 10 to 12 psft.

Less focus was on green energy. Due to carbon footprint requirement from EU , Singapore need huge amount of green energy. Pengerang very strategically located to supply green energy such as solar to Singapore.

Pengerang land size of 1600+ acres very suitable for 500MW solar farm.

If MPHBCAP engage in solar farm project , as compare to outright sales of the land , this will be a better option by generating constant cash flow and profit to the company. Valuation for the stock will be better.

I'm observing the SCR has something to do with this.

Under LSS5 , 1st time in the history , 500MW solar farm open for bidding.

Form available to purchased in May , submit of form in July.

We should wait for the advice from the independent advisor. Let see what their comment will be.
Get the 3 sen dividend 1st

@johnzhang Vitrox and TTVision.

https://en.m.wikipedia.org/wiki/Iskandar_Malaysia_Bus_Rapid_Transit

https://malaysia.news.yahoo.com/consortium-seeking-build-johor-lrt-064724840.html#:~:text=Previously%2C%20Malaysian%20listed%20firm%20Nylex,Nylex%20Berhad%20to%20collaborate%20on

https://malaysia.news.yahoo.com/consortium-seeking-build-johor-lrt-064724840.html#:~:text=Previously%2C%20Malaysian%20listed%20firm%20Nylex,Nylex%20Berhad%20to%20collaborate%20on

If Johor government.decided to build RTS connecting Pasir Gudang to Singapore , the land price in Pasir Gudang will skyrocket as connectivity will significantly improve. Tanah Merah to Changi Airport only 1 MRT Station. JB to Senai Airport by road about 1hr. Worth to bet on company with land in Pasir Gudang. Pengerang about 20km from Pasir Gudang , spill over effect not as much.
Residential land price in Pasir Gudang around 30 psft

5 or 6 years ago

MahSing bought a pcs of land , more than 1000 acres within Pasir Gudang and Pengerang to develop into township. The land price about RM8 per ft2.

So far , Nylex is working on LRT at JB area together with BTS , Ancom Nylex and LBS. No latest development so far.
Johor Transport Master Plan
BRT until Tebrau area ( phase 1)
Phase 2 extended to Pasir Gudang and surrounding area in 2035.
Pengerang even further from JB.
The only option to boost Eastern Part of Johor is building another RTS connecting Pasir Gudang to Tanah Merah MRT Station in Singapore

MPHBCAP not my major holding so far. Won't be investing in any counter related to Surin in the future.
My investment focus more on technology stocks.
The company majorshareholders someone I knew in person , very humble and responsible person. One in top 50 richest list in Malaysia. Another one on the rise with new factory expansion. I have high hope on them due to their personality

2 years ago I joined in the AGM through online. I totally disappointed with the management.

I kind of unhappy with the way Surin table his privatisation EXCUSE.
He was the one running the company. The company was poorly manage and the stock price was under performing and now he uses this as an excuse to take the company private at low price , avoiding the NA of the company at 2.40 which yet to factor in the revaluation.

I kind of confuse with the 10%. If I not mistaken , I read somewhere that need 10% of total shares , which means 70.2MM instead of 40+MM to turn down the proposal

@JohnZhang let's try our best to do what we can.

@YouWin I will put my bet on those stock counters with land in Pasir Gudang area. Betting that East of Johor will be connected to Singapore through another RTS.
Singapore didn't like bridge as more cars will enter Singapore. RTS only transporting people.

We just do whatever we can for a better price. I wish Surin will revise the price to 2 and above and with happy ending at EGM. Then we can move on to other counters

Although our holding represented a small fraction of the 702MM oustanding shares but we hope we can joint force with other minority shareholders to sense a clear signal to Surin that we are trying our best to go against the unfair offer price.

We have a couple of millions of shares in hand and we decided not to sell at open market and will vote against the resolution during EGM unless the offer price revise to min RM2

YTD , only 2% of shares changed hand which drove the stock price from 1.05 to 1.63.
This definitely not the alternative to privatize the company through open market purchase as minority shareholders is holding tight with their shares.
By announcing privatisation at 1.70 , Surin might hope that he can cap the price and minority shareholders will sell off below 1.70. The transaction volumes yesterday afternoon after the announcement and today sent a very clear signal to him that we will not dispose our shares at this price.

Aboce was Pasir Gudang land price

PGB as an example. The land deal 238.8MM. Which included 90MM to convert land title from Argricultiural and get all infrastructure ready. Excluding this , will be RM2MM per acres. Ulu Tiram only 20km from JB. Pengerang more than 60km from JB. Pasir Gudang 40km from JB. Commercial land within 30 to 50 psft today

Johor has unique land law that different from other state. I learned from another stock that I hold with land bank in IDR

Plenty of land in IDR. The zone earmark for industrial will be Pasir Gudang. The most for Pengerang will be for PetroChemical.

Government bought over at 90+sen if I not mistaken and sold at RM7. That triggered the legal battle