Patience guys. Fundamentals so good, volume already emerging, just wait

Full slate now 😝

I suppose it's brighter than it has ever been in the past 5 years 😎

Testament to Yinson's management quality


KUALA LUMPUR (Oct 24): JPMorgan Chase on Tuesday appointed Andy Lim as the head of its new corporate client banking business in Malaysia.

Lim will focus on expanding the US firm's commercial banking business to support financing, transaction and treasury needs of Malaysian-headquartered companies, JPMorgan said in a statement.

Lim was previously an executive director with Farosson, the advisory and asset management arm of Yinson Group, a Malaysia-based energy infrastructure and technology company.

If I am not wrong...current Agong is AQRS's CEO's partner in Tanah Makmur. But that's probably irrelevant. For almost the full term, other than KotaSAS admin centre, we don't see AQRS getting any favours

Market cap 181M. This is one of the easiest counters in construction theme to hold and make a larger % than normal. But it will always be difficult buying/holding through the period of consolidation. It will touch 38-39 again. It may repeat and come down again. The question is will you be selling all at 38-39, and then when consolidation is finally over, miss out on the much bigger move that shall come

What happened is piggy bank phenomenon...even I do it to Yinson sometimes lol

When ringgit is down, when market is down, it is always easy to take back some liquidity from Yinson. Rock solid, easy to sell millions when u want without shaking the price too much

Uncle Koon is right this time. He rarely buys value. KSL is the only one that has been doing well regardless of new Johor catalyst. Imagine when the catalysts do materialise

This counter is soooooo liquid, no such thing as kena trap



pangolin

standing outdoor for month , go in 50c kena trap ....

13 hours ago

WEll done Hibiscus. Again a refuge in a sea of red

Just curious, how many retailers are still holding UEMS really?

Finally I get to join the Ekovest game. Deep value. Corporate exercise pending. All good

Very attractive. All the goodies remain. Niceeeeeee

@jackson dry powder ready? 😆

I also want to learn from some who quote themselves, spot on 🤣


Posted by UncleFollower > 1 month ago | Report Abuse

Yes. Share consolidation is the bonus. Well it shows that they care about share price and want to do something about it. Above $2 invites a new class of shareholders, liqudity should ironically improve which then leads to expansion in valuation. Buy it before ex-consolidation. $2.80 = $1.12 conservatively and $1.40-1.60 range the moment Fed pauses China recovers and shortage emerges in 4Q. Lots of IFs lol

More catalytic events later this month supporting the Iskandar 2.0 investment
theme. Besides the loosening of the Malaysia My Second Home (MM2H) criteria (details
have not yet been revealed), some prominent events unfolding in October would further
uplift the Iskandar 2.0 investment theme. They include the planned Malaysia-Singapore
leaders’ retreat at end-Oct 23 (to sort out details of the Malaysia-Singapore Special
Economic Zone) and the council of rulers meeting (when the new Agong is expected to be
selected)

Mega infra projects: opportunities in LRT3 and Pan Borneo Sabah Highway. The
project value for LRT3 has been upsized by RM5b (reinstatement of five stations) while the
award of Pan Borneo Sabah Highway (PBSH) has been indicated to be in November. The
beneficiaries are MRCB for the former project, and potentially Gabungan AQRS for the
latter project. The expected rollout of new mega projects in 2024 (MRT3, PBSH) also
implies improving demand for the building material (particularly cement) sector.

Revival of Temasya LRT station will be AQRS's

Even if it doubles from here over the next 1 year, KSL will still be very reasonably priced

Yinson is this scary behemoth that will generate so much cashflow by CY2026, not sure how market will look at it by then. IT's REALLY BIG.

Recently Lim Chern Yuan said he believes they can hit US$1B ebidta by 2025. That in itself is amazing. US$1B!!! I think he knows what he's talking about. If you have watched him before, this is a CEO full of humility and one who takes his job seriously. He is considered 1.5 Gen, and still very young. 1.5 Gen, since his father founded the business but it was him who ventured into FPSO and changed Yinson forever

Also there will be the RE part of the business that they are currently burning money and market doesnt give any valuation. Isn't this what the market wants, all these green business

The most unfortunate timing in my view...is the expiry of warrants by mid-2025, before all the super earnings come into full blast hehe

@RobertWaters This may not be true for Yinson. If we look at historical performance, Yinson does not only have a low correlation with oil price, but a negative correlation with oil. Here we are strictly referring to share price, not business earnings.

This does reflect the underlying business of Yinson. It will do what it does regardless of oil price. The strongest testament to its strength is its performance over the Covid era where oil futures once went negative - yet Yinson's earnings were stable as a rock.

Armada's share price tends to move with oil. It does not reflect its underlying business. But it is a liquid stock to trade. If I want to have real direct equity exposure to oil in Bursa, there's only Hibiscus. The others goreng with oil. Previously, Dialog was given a higher valuation - Dialog is another one that has a completely different model vs direct exposure to oil.

Yinson no longer needs anymore new contract to be worth wayyy more than current price, as OTB said. However it is understood it is still keen to take up the BP contract, and maybe 1 contract a year. FPSO market has never been this good for contractors. For FPSO market to continue to fluorish and remain tight, so long as Brent oil holds above $80, it's very bullish, and at $60-$70 it really isn't an issue. This is from diverse reading and tracking historical performance.

CIMB today

The stock has been consolidating for a month after hitting the RM0.405 high in
early September. Last Friday’s long white candle pushed prices up to close
above the 20-day EMA again, supported by a higher trading volume. The bullish
gap up and coupled with the higher lows formation from the RM0.26 low, suggest
that prices may continue its medium-to-longer term uptrend.
The Moving Average Convergence Divergence (MACD) showed easing
pressure while the Relative Strength Index (RSI) has strengthened further,
keeping the positive momentum intact.
We think that aggressive traders may want to go long now with a stop-loss set
at RM0.34 (a tick below the 50-day EMA). This breakout may lift prices towards
RM0.405 and our Fibonacci target RM0.42 (1.236)

Top quality brief, better than the IB reports. Kudos to OTB

We need more investors like this to protect small investors interest

I will support the cause, let me think of some fresh points and also send it to Yinson

Well done newbie, perfect timing

@speakup but but but...if there was one PM I personally really couldn't stand, it has to be Mahiaddin

@John is here giving naysayers a chance to make 10% guaranteed profit. Money from the sky ma 🤣

Johnzhang

I hold the view that the MGO is real.
Although NA may be just $1.28 /share, the realisable market value of the assets is 2-3 times higher than NA which is always kept at historical price. So, paying minority $1.55 is real cheap. Just look at the % disposal gain Bplant earned in the past many land disposals to convince yourself. Remember that land is scare and price is high.
After GO, the assets can be disposal in smaller parcels , quicker and out of the radar of the public.
LTAT /Boustead is chasing after time to resolve their heavy financial woes and to ensure annual 5% return to members from this year. With bridging finance from the government, LTAT has no time to waste but to do the deal fast .
If monority drag the "aborted" GO to the court, the trial will derail the transformation plan of LTAT which is the last thing they want to see.

@youarewelcome88

I don't think it's possible for the Boustead companies to go bust. Politically impossible whoever runs the Govt of the day. Only possible if Malaysia goes bust. 1MDB is so much larger and we survived. Plus, Boustead group is no 1MDB, not comparable at all. Boustead...it is perhaps unfortunate for poorly management. But to be clear, I think this has more to do with Govt run entities, than race. Put this in another country with a homogenous people, the same could happen. Govt officials have no direct interest and most of them are politicians not businessmen. Boustead's problem, in a nutshell, is a case of having a huge asset base, poorly managed, complacency and mismatch of cash generation vs loans. Think of it this way...say a rich man's grandson is given a huge estate plantation. The grandson knows he is rich, he will live a rich man's lifestyle and unlike his grandfather probably lack the hardiness and business acumen. When times are good, no problem. Times are bad, he starts borrowing money to fund expenses both business and personal. Surely the banks will lend to him based on his very rich assets. So he continues to spend freely and hardly do anything to enhance his business, and never thought of saving for a rainy day, expecting that things should go on as it has always been. But then over time cost increase, trees get old, he starts running out of cash again. Banks are not too happy to lend anymore - for risk management, or in the case of Ah Longs, to steal his assets for a song. Now if his grandfather is dead, I suppose this is it - he will probably survive richer than us but that would be the end of a great family fortune. In the case of Boustead, grandfather is the Govt and he lives forever - he will fund his cashflow problem instead of allowing his assets to be taken over cheap. Rich man's son and plantation...I suppose in your mind you see a Chinese, and that's the point I'm trying to make here in response to the racist comments lol - Bousted's predicament could easily fall onto anyone given something on a plate for free, Malay or Chinese no difference. So yeah no I can't see any possbility LTAT can go bust. Worst case scenario be like Tabung Haji transfer to MOF and done. It's tiny compare to our Govt's balance sheet.

It’s a great opportunity to absorb some shares however small we are compared to the big funds…and I must say if one has a risk appetite, the warrants is very attractive. Managed to get some today on the intra day steep declines. OTB’s explanation and the link he provided is very clear. Yinson is one of those counters you can sleep with. I know…it doesn’t break until it does. But this is stock investment afterall. Such impeccable track record such robust growth, what else investors can ask for? Yinson is testament to the right use of debt. Just like buying Yinson on margin for us now 😂😂

Flip it around there is zero sense for LTAT to let BPlant free fall after all this hoo ha. Why? To buy it cheap 2-3 years later? Cannot…it looks too bad. Can even sue for breach of directors fiduciary duties - how can you reject a $1.55 offer today and then offer to buy at $0.855 2 years later?

Also, PMX doesn’t only have LTAT to take care of. There’s a reputation to maintain la.

2B peanuts to our indebted Govt. Next year cut subsidy got $ already ma. Do this, everyone looks good, everyone happy except for some people here I don’t know why lol

Bringing BPlant value back to $1.55 also has accounting benefits for Boustead to distribute dividends to LTAT and then to its members. If LTAT let it crash there should be marked to market losses in asset valuation (unless fight like Top Glove don’t impair SBB ya ok irrelevant jk) and impedes dividend distraction.

Also, this industry there are windfall sometimes. After 2021-22 they should see the huge leakage of dividends given to outsiders (us shareholders) instead of 100% to their members

If u ask me, this deal going through even trumps SIME UMW…no EGM issue no other shareholder issue and judging from sentiment no issue of 1.55 being unfair

And most importantly for us stock traders - the market agrees. Pay some respect to the market - with months to go before pay out and no offer docs, they are buying it from you at circa 10% discount only. It reflects the certainty of a deal going through

In terms of the Thursday suspension and letter, Okla class act from LTAT this time

Really, they could have delayed just a bit, let it crash, and then even if LTAT themselves don’t buy, the people in the know and their family and friends would have made a killing

The way the offer is made reflects only on the haste in which it’s required.

But give them a break la…have to finish talking to KLK break the deal, have to get hold of PMX cum FM secure funding before dare to break

And market opens on Thursday, no time consult IB no time do up nice paperwork fast fast issue letter preempt any share crash first

Initially I was wondering how the PN small fry can affect PMX and this deal. Didn’t make sense. Low political threat.

As the LTAT offer is revealed it is increasingly clear to me it has little to do w that PN guy. No credit should be given to him. It was firstly a decision of LTAT’s pride (especially the Veterans) and secondly a commercial decision.

Culturally the pride of Malays and Veterans is something to be mindful of. Did u see how it was phrased - LTAT selling off land which for a century the arm forces earned w their blood. Like that how to sell, hear already must respect…

If Govt can inject 2B, commercially it is obvious LTAT will be better off. LTAT is only selling because of cashflow problems and therefore it is getting the shorter end of the stock. No $ this KLK deal is very good. But it is a Govt entity afterall…if it has cashflow then they could turn around and privatise it first instead. Since they have 68% it’s easiest they do it. Also only they know what’s in their books. Also they don’t have to reveal books to KLK. Also it’s not difficult to think that BPlant can find something within BPlant to divest to Govt or Albukhary for $1B. Heck even gearing up w bank loans is possible w Govt backing. Didn’t SSLee mention about solar. PMX just committed UAE for RM38B in renewable energy. If you want land for solar farms, BPlant can offer some possibilities…

BPlant, I think the 2 days meeting was running simultaneously in many parts.

One of which is PMX’s assurance of funds. He already disclosed he gave them 300M on Monday - it coincided w the share collapse on fears deal off - precisely because Anwar is giving LTAT $.

Anwar further said he’ll look for 2B for them. Why 2B? 1.1B is to buy out BPlant, and 800M is to fund Boustead debts.

Connecting the dots, it’s very likely the deal was breaking on Monday because of Govt intervention. KLK was in the dark, as recent as the preceding Friday they were still buying and assuming deal is on.

So news would have leaked to the market as usual and sell off ensued.

However as much as KLK deal break was known, it wasn’t yet known of LTAT’s own intention.

That 2 days meeting firmed up their position to buy out BPlant themselves

Boustead Holdings buy out was cheap and indeed they flip flop.

The scenario however is markedly different.

Firstly they scrapped the plan on Covid grounds. In 2021, without the benefit of hindsight - it’s actually not that hard to empathise w them. Remember how we felt businesses would do in 2021?

Secondly they cited change in LTAT leadership and strategic review. Mind you, the change has resulted in today’s CEO and the 2023-25 strategic plan and that’s why they privatised BHoldings few months back.

In that episode it’s no longer about flip flop but about LTAT really underpaying and buying Boustead for a steep discount. No typical racist comments can be made, in fact if anything, they are the smart ones lor

It is clear LTAT has every intention to proceed w the offer. The only issue is money. Actually this isn’t a bail out per se. A bail out is more like MAS or Pharma, u inject the $ and it evaporates. BPlant, when Govt funds LTAT for the acquisition, they’re buying back hard assets for a song. Since the same people who condemn the Govt & LTAT are the people who think KLK is very smart, then it’s a contradiction to think KLK is paying $1.55 for rubbish.

John is right. Indeed there are quite many who are angry…or even eager to see the deal break + racist comments. Odd la you people.

Good job newbie

Ok lol



newbie9893

goreng up confirmed..buy now

17 minutes ago

Finally bought Vuse...must say, good product. Good enough to kill off their own Dunhill actually 😂

Nice recovery...

GENT, one of the few that is nearing 52wks low

Covering to 1.05 wor

Steadily holding at support. Short-term uptrend temporarily paused, mid-term outlook still great

KUALA LUMPUR, 4 OCTOBER 2023 – Lembaga Tabung Angkatan Tentera (“LTAT”)
wishes to announce that the Strategic Collaboration Agreement (“SCA”), signed on
24 August 2023 has been mutually terminated by the parties, effective today.
Following this termination, LTAT wishes to also announce that it aims to proceed with
the General Offer of Boustead Plantations Berhad (“BPlant”) at the offer price of
RM1.55 per share, subject to regulatory approvals.

LTAT and Boustead Holdings Berhad (“BHB”) as majority shareholders of BPlant will
refocus its effort on the restructuring of the company to ensure it gets back on a
stronger financial footing and chart a better business horizon moving forward. This
approach allows BPlant to retain agility and independence in charting its own course
to ensure a sustainable future.

“We are committed at addressing all the legacy issues within the BHB Group, in line
with the Strategic Plan 2023-2025 (MAMPAN25). For LTAT to discharge its duty, per
the mandate and function of a sustainable pension fund, it is vital for the legacy
issues to be addressed first. We remain confident that the restructuring of the BHB
Group will significantly improve LTAT’s position, particularly since almost 50% of our
investment remains unlocked within the Group,” says Dato’ Nazim Rahman, LTAT’s
Chief Executive

There are times to criticise, but we should be fair.

1. LTAT's statement is pretty clear. Can't say it's getting away with a sweeping statement. See below attached.

2. Can't blame them for not issuing offer doc immediately. They have just broke the deal with KLK. Would you rather they let the share free fall few days before announcing their sweeping intention without issuing offer doc, or would you rather they do what they did now.

3. LTAT is being fair to minorities. They reject KLK's $1.55, and buy from us at $1.55. They can always reject and keep it listed, then we should be mad.

4. LTAT has repeatedly spoke of its restructuring plans. Can't really blame PMX or management for running it into the ground. This LTAT CEO is the new guy, he wants to revamp LTAT with the 2023-25 strategic plan. First step privatise BHoldings. Now privatise BPlant. Ok.

5. LTAT isn't that racist to begin with, they took KLK's offer instead of Syed Mokhtar's. If they simply took Tradewinds offer, we wouldn't have even know KLK offered $1.55. And there wouldn't be $1.55 today.

6. Standing in their shoes, actually they were selling it cheap. They are taking back $1B only and retain 35% stake. Still, I think it's a good deal for LTAT under the circumstances - being that they are short of cash and desperately need to work it out. This is the best they can do, independantly, without Govt help. Now that PMX helps the Tentara, fair enough they redo it.

7. Importantly, they did not short change any of us. Can't keep running them down and blaming them right, everybody should be happy right. Consider ok la.

The 36% includes 33%+1 share deemed interest in the SCA, so it did not cross since condition precedents not met, and deposit will be refunded.

No rush, wait for 1.55, save commission, extra 10 cents u can donate to syed saddiq, he needs it



speakup

1.45 I'll sell all

20 minutes ago

Suspended. Announced takeover. Resume trading 10AM.