Yes, that second sale would take Affin beyond RM2.50.

Top 30 shareholders own more than 76% of the total shares. Among the top 30 shareholders are several foreign and local investment funds, insurance fund, foreign bank, credit companies etc. All they want is a big, fat special dividend in return of giving their approval on the disposal.

Dear Sharkfin, you are needed in Reach Energy forum. Please visit.

Dow Jones is currently down over 700 points and if it stays down until closing, Asian market will be a sea of red tomorrow. How will MphbCap share price preform?

@theong, I sold off MAA at RM1.04 a few days before EGM, my cost around 60 sen, hahahaha made over 70% gain.

Yes, a must. Directors must furnish all necessary information in circular to shareholders when calling for the EGM. You never received circulars before?

How many sharks are required to make a bowl of shark fin soup?

You people are so inexperienced. PA doesn't pay interest, it pays preference dividend subject to availability of distributable profits. If no profits or insufficient profits there will be no dividend.

Board of Directors need to deliberate on utilization of disposal proceeds first before calling for EGM.

Needs 28 days notice to call for EGM which requires 75% shareholders approval to pass resolution.

We make shark fin soup out of Big Shark.

I hereby propose that Johnzhang be appointed to represent members of this forum to engage the Board of Directors on the utilization of the disposal proceeds, especially on the quantum of the special dividend, in order to secure the votes to approve the disposal.

I hope tomorrow all here in this forum will be in happy mood.

Tomorrow we will get to see how the market reacts to a disposal consideration of RM508 million. The Edge earlier reported a probable disposal consideration of only RM330 million.

Posted by YouWin > 1 week ago | Report Abuse

Special dividend should be more than 0.40, assuming 0.05per year is what we should have got from the company

The situation is quite similar to SCGM which requires 75% shareholders approval. SCGM is proposing capital repayment and special dividend amounting in total of RM2.25 to ensure the disposal is not derailed.

A minimum of RM460 million is already earmarked to be distributed as special dividend (of 65 sen), is this quantum sufficient to persuade minority shareholders to approve the disposal? Or will higher quantum of special dividend (say, RM1?) be proposed to ensure that disposal is not derailed?

The disposal requires 75% approval of shareholders in EGM to be convened. If no substantial amount of special dividend is proposed to the distributed, the disposal is not likely to receive approval of sufficient percentage of shareholders.

Minimum 65 sen special dividend anticipated.

It is in my strong belief that the investment in the Nomura i-income Fund is earmarked for distribution as dividend but was forbidden by Bank Negara until MphbCap totally exits from insurance business. The RM460 million from this fund will pay a dividend of 65 sen per share.

The disposal consideration for the insurance unit is yet to be announced (possibly around RM500 million?) while the fund upon liquidation would raise at least RM460 million. In total the disposal amount could be close to RM1 billion.

After studying the latest Annual Report I am beginning to understand better. As per note 37 in the Annual Report, the units of discontinued subsidiaries comprise the insurance unit and a Nomura i-income Fund. The net assets of the insurance unit is RM721,288,000. 51% of that is RM367,857,000. The net assets of the Nomura Fund is RM742,878,000 of which RM455,892,000 is attributable to MphbCap. I believe this is a bond/money market fund.

@aklobi, AGM is next week on 25th May.

@Johnzhang, as at 31/12/2021, cash and investment securities amount to only around RM300 million.

So quiet here.

In June last year Generali already announced a proposed estimated purchase consideration of RM690 million for both MphbCap and Affin insurance units. For The Edge to state that the disposal consideration for MPHBCap's unit is a mere RM330 million is so laughable and borders on fake news.

@Johnzhang, what happened to the RM700 million over the past 7 years since 2014?

In 2014 MphbCap sold 49% for RM355 million. After more than 7 years of profitable growth The Edge writer thinks the balance of 51% will sold for RM330 million. Hahahaha.

According to The Edge freelance writer Ms Poo (Shit?) the disposal proceeds is RM330 million based on her calculation.

12.5 sen dividend coming.

I see value in Reach. Only the substantial shareholders are weak.

Go, go, go Reach, make us rich. Haha.

Go, go, go Mycron.

The Edge is most of the time full of shit.

Hahahaha, Mycron not on RSS or IDSS list lah, any short selling automatic buying-in at 10 bids above last done price.

Best closing so far this year.

Go, go, go Mycron.

@speakup, hahaha, you also know Leno?

PA doesn't pay interest, PA pays preference dividend. Dividend is only paid if there's sufficient distributable profits.

If 75% approval required then there's no certainty disposal will be approved.

speakup, what happened to your cute cat photo?

Disposal of core business needs only a simple majority of 50% plus one share.

@Johnzhang, if you study the latest Annual Report for the year ended 31.12.2021, most of the initial RM300 million plus disposal consideration have been invested into investment securities and unit trust. There was only RM8.5 million cash at bank outside the insurance subsidiary.

MPHBCap has yet to announce the disposal consideration, so can't really compare with Litrak.

@speakup, you mean to say SCGM is almost worthless after getting back RM2.21?

SCGM share price tanked.

@Johnzhang, I am also waiting for the announcement first.

Some companies are fair and generous to minorities.

Net assets of insurance subsidiary @ 31/12/2021 RM1,200,977 X 51% = RM612.5 million, round upwards to RM620 million.

Proposed disposal of vacant leasehold land together with buildings for RM15 million will bring in 8.44 sen EPS.