https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=140885&name=EA_GA_ATTACHMENTS

@Chloe, done deal $1.55. Congrats

Congrats all BPlant minorities, from laosai to jackpot today 🤣

You know how the Edge is really never wrong. When was the last time they were wrong? If so LD 89 cents is a screaming buy. LTAT lets you make 74% you dont want?

Wow privitisation is still on for minority shareholders

Makes no sense at all for LTAT to abort the deal. What's next in their game plan. Maybe like you said, press it down privatise it like Boustead Holdings, cheap cheap

The Edge got it right again. When was the last time the Edge's "unidentified sources" got it wrong? Imagine Malaysia without the edge....

@Chloe

No news announced yet. Above we are sort of told, the delay now is because LTAT wants control. I am just throwing out the various scenarios for discussion

Looks like the deal is on - but there can be a WORST CASE scenario for us. Which is KLK buys from LTAT but does not trigger GO to privatise. So they pay LTAT $1.55, and share dive to 90 cents, 60 cents. This happened before in E&O Sime Darby Terry THam deal.

Also, it's not possible for KLK to buy shares in open market to hit 33% + 1 share to trigger GO, if LTAT does not sell to them. That will drive the price too high and without certainty, KLK simply wont do it

@Ravi

Cannot, then LTAT has no control. The delay now is LTAT wants control.

That 236 acres refer to that in Pulai only. This grossly understates KSL's johor exposure. KSL is through and through a Johor developer, then Klang. Improved connectivity to SG itself means a lot more to KSL Mall. Ordinarily it wouldn't mean much, for larger corps like SP Setia, Sunway, for instance. It's meaningful for KSL becasue it's market cap is still smallish, and the concentration in Johor exposure means the circa $100M quarterly profit could go further up. Further there's easy realisation value if they inject rental assets into a KSL REIT

There are not many ways to give LTAT control. This is what I thought the discussion is about. But it looks quite challenging.

1. LTAT retains 50% + 1 share, sell the balance (around 18%) to KLK. That's it. No GO triggered. KLK owns 18%. NO REASON KLK wants to do this. Also, LTAT needs KLK to be committed to shoulder the burden of running the company, replant and so on.

2. LTAT retains 50% + 1 share, sell balance to KLK. No MGO, but as parties acting in concert, they can still offer to buy out minorities at $1.55 and delist BPlant. This is ideal for minorities, same as existing deal, the difference within does not concern minorities. It may be more likely than 1st scenario above, KLK holding 50% less 1 share can still ensure its wellbeing. However this is really then national service. WHY WOULD KLK want to do that. $1.55 is a premium price paid for control

3. Maintain existing deal KLK65%/LTAT35%. Give LTAT separate voting/ veto power. This way KLK's financial interest remains the same, but give controlling say to LTAT.

Any other possibilties anyone?

Malaysia’s LTAT Weighs Keeping Control of Boustead Palm Unit in KLK Deal, Sources Say
***Price of 1.55 ringgit each wouldn’t change in reworked deal
Owners agreed in August to sell palm oil planter stake to KLK
By Elffie Chew October 4, 2023 at 3:54 PM GMT+8

Kuala Lumpur Kepong Bhd. is in talks with Malaysia’s military pension fund to rework a deal announced in August for the oil palm planter to buy a stake in rival Boustead Plantations Bhd., according to people familiar with the matter.

Lembaga Tabung Angkatan Tentera, the indirect owner of a majority of Boustead Plantations’ shares, and KLK are discussing a deal structure that would let the pension fund retain control of the company, the people said. The existing transaction, which hasn’t been completed, is set to trigger a mandatory offer for the remaining minority shares, potentially giving KLK a controlling stake.

LTAT and its unit Boustead Holdings Ltd. had agreed

in August to sell about a 33% stake in Boustead Plantations to KLK for around 1.15 billion ringgit ($243 million). The price per share of 1.55 ringgit each wouldn’t change as part of any revised deal, the people said, asking not to be identified as the process is private.

Shares of Boustead Plantations and KLK have been suspended since Tuesday.

Deliberations are ongoing and there is no certainty that the parties will proceed with a deal, the people said. A representative for LTAT said that, as Boustead Plantations and KLK are listed companies, they would make the requisite announcements on the decision via the Bursa Malaysia. A representative for KLK didn’t immediately respond to requests for comment.

My sharpe ratio is consistently below 1.0. I need a run to clear out everything and restart 😂

lol yes 300k only, this is to deal with itchy finger. I feel the same, maybe when it's over we should reveal our holdings 🤣 from years back going buffett style, very brave catching falling stocks and got burnt countless times. Now I am braver on the way up than down

@Zhuege_Liang we small fry.

Please ask star investor OTB publish this opinion give some advice to Yinson Lims and hopefully gain some traction. Also, before Agogo contract locked-in, they have been doing SBB as high as 2.48. Also, >100B contract value is unheard of in Bursa - and market cap less than 7B, how can.

I bought 300k shares @ 0.340. It feels like a mistake. But wt heck, sometimes when it feels like a mistake it turns out to be right and vice versa. In hindsight...mistake is relying on UEMS and linking UEMS & AQRS too heavily. UEMS too strong, I was watching UEMS, taking it as the leading indicator to consider whether AQRS will dive. Well, UEMS remains way stronger than AQRS, not a good indicator 😂

UncleFollower

Notably, most of the sale is EPF's internal manager selling. EPF's external fund managers have not budged. @Zhuge EPF selling now may not be a bad thing, I don't think they don't want to exit position, just streamlining - especially if they view external fund manager's holdings wholistically. EPF being the supplier of stock now, means when they cease selling, it will go back up very quickly

Good research calvin, but the 4% variance you mentioned is wrong. For KLK to have that 33%, u have to deduct it from LTAT's 68%. So there remains 29-30% in other hands



calvintaneng

BPLANT & KLK : A LOOK AT BOTH POSITIONS AT CURRENT CIRCUMSTANCE, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-10-03-story-h-218780915-BPLANT_KLK_A_LOOK_AT_BOTH_POSITIONS_AT_CURRENT_CIRCUMSTANCE_Calvin_Tan

13 hours ago

The weaker the market, the higher the likelihood LTAT proceeds with the deal. Gluck guys

1.05 quickly broken. Let's see whether this is a break below 1.00 or a rebound toward 1.05. The latter, game on.

Sentiment has turned south very quickly for everything. Previous support in a bull market may change in a bear market. AQRS illiquid and penny leading to large % change...I am not that concerned, but trying to feel how i would feel if I do nothing and this does go back down to 30c pfffff

lol no I am not thinking of revenge yet

I am hoping someone smart in public forum throws some insight, maybe. We can consider whether we are buyers if this indeed opens limit down, even if you already have shares. We can be buyers, if LTAT has good reason to reject KLK's offer, other than policitcal will - this means LTAT will get a better deal somewhere, whether it is extended to BPlant, and its minorities to be seen

On the other hand, it also shows PN's opposition did not gain traction, and if there's one thing honest he said, he said it was unexpected. So if this is political, why is PMX doing it?

https://www.freemalaysiatoday.com/category/nation/2023/10/03/clarify-if-bplant-klk-deal-is-off-says-bersatu-mp/

So the consensus is it will open limit down assuming the deal is off

Buyer KLK is willing to pay $1.55

If the deal is off, it's the seller pulling out.

Seller owns 68%.

So the seller who owns 68% refuses a $1.55 offer, and would rather see their 68% holding go limit down?

Why?

Much has been said of the political pressure. This is odd - the former education minister + some opposition MPs raised objections - but these weren't very convincing (what's the issue with 30% bumi policy when LTAT will still own 35% of BPlant after MGO). Further, Mat Hassan explained and defended the matter rather convincingly.

IF, a big IF, it isn't political pressure, this means the seller is pulling out for commercial reasons. Means they think they can have a better deal, a better structure or something like that.

So open limit down, who dares to buy?

Well said jackson, dry powder makes the killing but few, very few, myself included couldnt find the discipline to have that sizeable powder in times of need lol

Before the state elections, PMX's rhetoric was like the previous FM Guan Eng, cut cost, debt, slowdown major projects. After state elections rhetoric changed a little, going everywhere asking for investments. However...there has no mention of major infra projects - hopefully the stock market run indicates the market knows better

Appreciate the info you share w us though eddy. I for one couldn't find any info how the Peak became Puncak Tebrau, not local enough

Thank you I will try 7-11

I dont think it's over yet. It has bounced off 105/106, maybe habit cerita if there's a sharp break below. Otherwise game still on

I disagree eddy...if the sector pulls back, regardless of the PEAK, AQRS is coming down together, and vice versa. It has not yet stabilised to that level that the PEAK, or fundamentals determines share price

0.350 SQ taken out. Players still in this counter

Even tho have faith in management cant say not scared holding a large position and see it moving down w increasing volume

Phew~~~~~

If you told me in Mar/Apr Yinson and warrant would have traded side ways until now I wouldnt have believed you. Good news bad news no news, it is stable as a rock. Cute.

Where can I buy Vuse?

still strong support wor. I can't got killed by this counter before. once bitten twice shy. sim.

ATK was already a richman 19 years ago

Because most retailers sold still below current price lor, I for one couldnt hold haha



theyoungman

Why are you guys so happy to see mkt bad sentiment leh?

46 minutes ago

Top 10 shareholders hold 78.64%
Top 30 holds 84.1%

If Uncle Koon still has his Dayang $ he can easily squeeze the share to shoot up for miracle number 4 🤣

+0.96B investment properties. So 1B investment props + 1B landbank

monetary

with 1.15b landbank ksl still can maintain net cash. that's miracle no1.

Refuge in a sea of red...thank you nikicheong thank you armada

EPF's volume isnt' really affecting the share price. More like the players are taking the opportunity to move the share up and down. See if they have the bullets to push it back down to 30c, for that to happen will also need UEMS to lead the losers otherwise hard to push down la

All matched except 355 and took 360 hehe. This became one of the biggest loser in construction today. I'm not worried yet, let's see how it goes

I bought back at 375 & 365, continue to queue 355 350 and 345, goodluck 😂

I want to buy Vuse. But a quick google search and I have no idea where to buy. How.

Good Bursa's Star Investor is here. I will speculate that OTB's style, he will go long on the warrants before the mother share. Huat together let's go

Not this term, but that term when Guan Eng raised taxes and changed genting forever lol



Shines

Why blaming PH here

19 hours ago

I am holding a sizeable position here and trading a bit like from 1.06 - 1.14 so far...still like this very much. Throwing the above to forum hoping for more views cheers