not EPF... surely TH continue to sell inline with recent disposed..

and it is 19% from SOP (6.17)
what happen to long term investor? who entered during price was RM6/7/8?

the take over is mainly due to "hidden value of the assets"...
they should already re-valued and keep it underground.. delist first after that revalue and make it public.. then listing again with new high price.. =)

confirmed 5.30.. that is the price at the moment because CIMB thinks it is "reasonable"...
what if the minority refuses to let go at that price? wouldnt they revise it? lets see on monday what happen.. how many % share traded on monday..

lee man,
yup.. i noticed that.. and i also noticed that there were some parties collecting it.. price was sustainable even EPF disposing.. So, basically this news already knew by them.. and collected during the low range of price.. since i traded CW, i will cash out too.. by knowing the actual value, surely long term investor will disappointed with this offer. for me, i am happy.. =) if price offered nearly Rm6, i would be more happy.. =D

MISC Buyout By Petronas Isn’t Great For Longer-term Investors
 
土曜日, 2月 02 2013
PETALING JAYA: Petroliam Nasional Bhd's (Petronas) proposed buyout offer of RM5.30 per MISC Bhd share is likely disappointing to some minority shareholders who may have been hoping to benefit from the recovering shipping wave.

Some analysts are questioning Petronas' intention of privatising MISC when the latter is turning around, albeit within a longer-term horizon. It is also coming close on the recent C$5.2bil (RM16.16bil) takeover of Canada-listed Progress Energy Resources Corp by Petronas.

“Investors with a longer time horizon who had recently accumulated MISC at attractive valuations would likely be disappointed that they would not be able to ride an eventual shipping upturn via MISC in the years ahead,” CIMB Research said in a note.

MISC returned to the black in the second quarter ended June 30, 2012 after two consecutive quarters of losses due to provisions for the planned cessation of its problematic liner-related business that is suffering from an overcapacity of vessel supply.

The company's net profit rose 209% to RM380.95mil in the quarter on revenue of RM2.49bil.

The liner exit marked the shipping company's renewed focus on energy transportation and logistics businesses, which include its stable-income segments such as liquefied natural gas shipping, offshore and tank terminal.

“If we did not exit the liner business, it would negatively impact MISC as a whole and we are not prepared to allow that to happen,” MISC president and chief executive officer Datuk Nasarudin Md Idris told StarBizWeek in July last year.

Analysts also believe that the offer price of RM5.30 should be higher.

“Our sum-of-parts (SOP) calculation for MISC is RM6.20, so RM5.30 is not all that fair,” and analyst said.

CIMB, meanwhile, said although the offer price was below MISC's SOP of RM6.17, it believed that minority shareholders would accept the offer, given that the weak tanker shipping markets were expected to keep the share price low over the next one to two years.

Another analyst also said Petronas' buyout of MISC did provide a decent exit for shorter-term investors who should be able to benefit from immediate share price upside.

The RM5.30 offer price works out to a premium of 18.04% or 81 sen above MISC's closing price of RM4.49 on Wednesday, the day before the offer was announced.

Petronas, which has a 62.27% stake in MISC, intends to take the company private.

MISC's share price has remained lacklustre in recent years. It hit a high of RM9.94 on Dec 6, 2007 and a nine-year low of RM3.87 on June 5 last year.

The buyout, if successful, will remove the nearly RM20bil company in market capitalisation from Bursa Malaysia, making it one of the largest privatisation deals in recent times.

some valuation need to be done.. with the assets n landbank, the value is so far greater.. thats y taking private then will relist again later.. hopefully some party realize this and hold position to deny petronas 90% holder.. especially big local fund..

expecting to be.. however, prepare for cutloss if not coming.. chart, momentum, trend all set..

however, still, the buyout was due to debt if not mistaken.. UEM took over to save RENONG..
bad GLC then.. same to MAS.. someone will take over?
"GLC never die" huhuhu

Renong was taken over by UEM at price of 4.50 if not mistaken..

renong is uemland right?

i wonder when the gov to approve and announce the buyout of EDL..
everything should be ready by now.. hope will rally before Feb ends.. they should approve it before GE (incase they are not in power anymore).. Personally waiting for another happy moment after MISC..

MHB could be in play too.. partnership/linked play..
if MISC open price lower than 5.30, just join the boat(if worth with profit margin left).. if only there will be investors are "dumb" to sell lower..

PETRONAS has also has no intention of making a separate takeover offer for the shares in the listed subsidiary of MISC, namely, Malaysia Marine and Heavy Engineering Holdings Bhd.

luckily went back in... :)

news from bloomberg, petronas to make buyout bid for MISC..

ok2... tq.. lets wait for the news to release first..

thank you for explaination..
its a bit weird to me.. why not acquire in open market which is much lower than the price said(if it is true).. appreciation to loyal shareholders? just curious..

thank you tonylim..
what is the reason for them to buy back? any agenda or prospect in future?

what is VGO?

yeah.. notice that too.. today before closing quite heavy sell mode..

yaa.. just notice from 12.30.. suddenly name change to grey color.. suspension mode.. hopefully good news.. not pushed up for escape.. hope for a rocket..

yesterday's stats showing high foreign flowing in the market.. local fund also was a net buyer.. retailers keep on selling with more than 90mil..

Counter that moved today
BAHVEST, GLOMAC..

For tomorrow, Glomac remains in the list.

yes passerby.. currently mhb in the list.. son of misc.. but waiting for better move.. anyway not yet check fa performance on this company.. got bullish divergence and recent buying appetite also not disappointing.. if good expecting to breakout 4.6 and heading 4.8..

will look into those cw too.. :)

this counter is on rally.. dare la to buy.. if not, who dare to buy in market like this.. can burn hand wor..

yup.. you are correct MC.. =) out at 8.5, in back 8.5, now more than 10cent.. from my view, there is something behind and mother could fly higher.. but as long sentiment is good.. we shall know the reason soon..

=) 2nd round.. 8.5cent..

agree with you.

erm.. a bit weird if the buyer was local fund because yesterday they were the net seller of more 50mil.. for yesterday activity. foreign fund was dominating.. for today, cant comment yet.. as what written in The Edge, saying that foreign fund was clearing this morning.. yup, anyone can comment, we just sharing and discuss our thoughts.

yesterday matket's stats showing big foreign fund was flowing in.. retailers keep on panic with 92mil.. after drop more than 20pts today, index rebounded again.. lets see in the 2nd half before jump to conclusion..at the moment, most of the index counters are forming hammer.. while index looking for 2nd hammer(daily).. 2nd half will decide whether this hammer will remain or not..

i just managed to get some at 6.5.. out already at 8.5.. looking forward to break 4.50 with confident and looking forward for 4.80.. i believe there is something going on in this company.. there is no news for months already.. MHB also rebound.. good profit Q to be released soon?

TQ MC =)

who asking to cut loss? nobody expected market to drop 40.. it came out of nowhere..
i am not even cutloss... and it rebounded nicely...

hahaha.. so he attacking me..?? d4mn..

who use computerized system??

Soon or later, it will be over.. take care.. =)

KCLOH, already start a new season of drama??
hahaha.. i guess, after 1 period of time, there will be "tayangan perdana" here.. lol..
feel sorry for you, u always been a target..

who is the retard? or are?
not following what is happening here..

yesterday stats shows foreign fund was the net buyer with more than 40mil.. while retailer keep on panic and become most seller with more than 30mil.. local fund also net selling.. later will update this post with yesterday stats..

another millions acquisition from directors today... yesterday buy back into treasury...

if like that, i presume, KLCI should reverse as %k already cross both %D normal n smooth.. =D i use stoch 14, and for cypark not yet touch %D as what u claimed..

%K only spike up.. %D is nothing..
anyway, what is stochartis? is it stochastic? i afraid i got it wrong..

need to check tape reading for better buyer n support condition.. from candle, showing piercing pattern.. can be sign of rebound.. but not yet bullish as it closed below midpoint of yesterday candle.. others indi still bearish..

where got... smiling here.. =)

no need like that la.. we not competing each other.. we sharing our idea and thoughts only.. if i wrong, then wrong lor.. if u right, then right lor.. no problem.. cheers

haha.. dont forget to close zip.. later will find way out..
my critical support at 1590.. break this point, everybody should run..
only in my opinion..

i will not saying tomorrow will green, but it will not break critical support.. let it down for 3days.. believe in no 3.. hahaha

ok2.. you win.. stick with your plan... i stick with mine.. tomorrow lets pray, it breaks 1590, and double drop.. let me lose underware.. hehehe