Looks like the daily open quarrels between these warring parties cannot end despite being advised by well meaning people. Other people invest in stocks and come into forums to better understand investment opportunities. And we can see stocks like Hengyuan,Petron, Supermax, Dialog, Airasia etc all rewarding their shareholders because there is a concerted effort by all concerned to push their prices higher and higher. But here at MBSB forum, we get people not making any positive contributions but just quarreling everyday. Sometimes I wonder whether all these open quarreling is real or just Syndicate Members having an agenda playing a game. All I know is you guys lost an opportunity to make good money right now and it might not be conducive in the later months when uncertainties in GE14 may drag our market down, then you guys will regret. Others have already made good profits with their KLSE investments while you guys made nothing so far. Brainless people.

Do not make this forum your platform to fight and quarrel over petty things. We are sick and tired of all this nonsense by all the quarreling parties whoever you are. You guys behaved like spoilt brats on an ego trip. Use the head you are blessed with to come up with constructive thoughts and ideas and not spew contempt on each other. Thank you.

I my humble opinion, the Board of Directors, EPF and Tan Sri CMY should not allow syndicates and operators to control the share price of MBSB. It is very damaging to MBSB and it has gone on for too long. I think nearly 18 months to be precise. Sorry, just my opinion only.

Share rigging by crooks and their remisier is a criminal activity and in the past a few have been charged, fined and also jailed. A classic example was Fountain View Bhd where the MD of the company conspired with his remisier to set up multiple accounts to create false purchases and activities. The Securities Commission should be more pro-active to wipe out scoundrels who are damaging the reputation of the KLSE.

Today out of curiosity, I checked the top 30 shareholders of MBSB till March 2017. The top 2 shareholders, EPF and Chua Ma Yu owns 74,248% of MBSB and the top 30 shareholders of MBSB owns 84.189% of MBSB. From this annual shareholders report, we can conclude the free float shares of MBSB is very limited. So do not despair, what has been going on for the last 12 months is probably sharks and syndicates manipulating the prices. I am also curious how last friday`s MBSB share price ended at Rm 1.11 and on Monday the acquisition of AFB was priced at Rm 1.10. A very nice co-incidence indeed. I would recommend that strong holders should hold on tight to their MBSB shares and enjoy the fruits of the AFB tie-up later next year. In my humble opinion, these 30 top MBSB shareholders controlling 84.189% are quality shareholders and they will not sell at such current low prices. Whoever who is pushing the prices down right now may have an agenda of their own, just don`t sell your shares to these sharks. Have patience my friends.

Do not be influenced by nonsensical "prophets of doom" talk. Many of them actually know nothing about investing based on fundamentals and potential future growth. Let me remind everybody that EPF owns more than 60% of MBSB and Tan Sri Chua Ma Yu also owns a big stake too. Do you read of these 2 substantial stakeholders selling off their MBSB shares even when it was hovering around Rm 1.36? Ask yourselves why they did not sell and you will have the obvious answer. I am sure Tan Sri C.M.Y after investing hundreds of million of either his own money or borrowed money is targeting a handsome return. Please remember there is holding cost and opportunity cost involved here for Tan Sri C.M.Y. Usually, I do not like to comment, but I think there are too many nonsense comments here. I am someone who has been observing and playing the market since 1981, so I know a thing or two about MBSB.

Simple common sense will tell you MBSB and AFB have already completed their negotiations on pricing and what not. Submitting to BN is a formality because BN is the governing body overseeing all commercial banks in Malaysia. BN is more concern on whether the merger will have negative consequences in the financial sectors, if there are none, the merger is a foregone conclusion.

Force, why would you advise people to wait for news of failure before buying MBSB? Sounds very stupid. If the merger does not take place and is officially announced in the newspapers, then the enthusiasm for MBSB will die a natural death, why buy it then. What value is there in MBSB if a merger does not take place? Come on Force, be rational and come up with an educated argument. Otherwise you will only be seen as " a person who only wishes for bad things to happen to others" and that is a medical problem. I have read your ramblings on the MBSB Forum, you need medical help. My advise to people is " never buy a stock just because somebody else owns it. You must know what you are buying and you must like it"

Let me tell you guys a story about MBSB. This counter used to pay good dividends in the eighties. And I held a few lots then. Whether it was Black Monday, Tiananmen riots or the first Gulf War, this counter was always very steady. Actually, I managed to sell MBSB with not much losses during the height of the first Gulf War and diversified my holdings. Without MBSB at that time, maybe I would have lost most of my savings with no chance of a quick recovery. MBSB saved me then. We should buy stocks based on current price and what it can offer you in the near future. MBSB meets the criteria, just buy and hold and you will be rewarded handsomely. A full fledged Islamic license is very valuable. The MD of MBSB has hinted that the merger will surely happen. That is good enough for us to understand. He cannot be more direct than that.

Looks like merger talks between MBSB and AFB continuing smoothly and will culminate with MBSB becoming an Islamic Bank. There are many positives if this happens. With an Islamic banking license, MBSB will have the full range of banking products to compete and offer to the public just like Muamalat Bank, Bank Islam and whatever that is offered by the Islamic arms of commercial banks. I see the share valuation of MBSB going upwards because there are not enough Shariah compliant companies in the KLSE especially in the finance sector. The EPF has implemented a Shariah compliant option for their EPF account holders plus many Islamic Unit Trusts are also hungry to invest in Islamic Shariah compliant companies. If Shariah compliant products are too limited, it can only mean too much money chasing after too few products. More demand and less supply means price will go upwards. I note that MBSB will complete their impairment write down by the end of this year. If the impairment is caused by Non Performing Loans (NPL), MBSB would have taken advantage of the losses as tax breaks. Surely if MBSB becomes more efficient and can collect back any NPL in the near future, it can be a nice windfall for MBSB. I have been collecting MBSB since Tan Sri Chua Ma Yu entered MBSB as a substantial individual investor. From my observations, Chua Ma Yu does not simply put his money into every Tom Dick and Harry counters. He does his homework and he is not looking for chicken feed. His holding costs by now is quiet substantial, I am sure he is aiming for a big windfall himself. We should buy some MBSB and wait for further developments, it looks like a good counter to hold.

Started playing since I was 26 years old. Guess I was there in every occasion, whether it was good or bad. Many times rode it like a rollercoaster. But played based usually on fundamentals. Overall on the plus side. Enough to lead a simple life. Now at 61 years old, I am very conservative. Cannot afford to make big mistakes anymore because I will run out of time to make a recovery. Never trust analysts who work for Investment Banks. There are some good guys in i3investor forum like Kcchongnz who give good advice. Heed the advice of experienced investors and you will make fewer mistakes. Good luck to all of you.

Don`t worry Jetli. I know we both meant well by posting our thoughts in trying alert naive investors who can be taken for a ride. They have to look out for vultures who can set them up for a kill. Have a good day Jetli.

Tq Jetli for your fair comments. I concede not all PN17 companies are a disaster. Yes, a cash rich company with no significant core business can also be classified under PN17. I was airing my thoughts after reading and listening to what the oil and gas industry is undergoing right now. I get my news from newspapers, CNBC and Bloomberg. Right now charter rates for oil and gas assets are pegged to oil prices and obviously there is a mismatch between charter rates and money that is needed to service bank loans to purchase these assets that were ordered or planned when oil was USD 110.00 per barrel and beyond. I hope oil and gas companies will have no more need to write down their asset values. Please take note that Perisai have to take delivery of their preordered oil rigs Pacific 102 and 103 respectively from Sembawang Shipyard. As it is, their MOPU oil rig and pipe laying Enterprise is idling without any sign of new contracts. It is going to be very difficult for Perisai. Some companies will manage to ride through the oil price storm but some will not. Just for the record, currently I do not own any shares in oil and gas companies. Less some readers might think I am a trouble maker, I shall refrain to comment on this counter in the future.

Exercise caution while trading in Perisai. When a company goes into PN17, it means the company`s liabilities are higher than its nett assets. If the bond holders believe that there is a way out, then restructuring of the loan will take place but if after looking into the books of Perisai, the bond holders feel that winding up is the only option, then the company goes into receivership. Just to quote past cases, SJA was liquidated by Hong Leong Nominees many years ago when they gained control of SJA through minority shareholders support. But yet upon taking control of SJA, Hong Leong Nominees just asset stripped and liquidated SJA to recover whatever they could for their masters. Minority shareholders interests was of no concern of theirs. Another case was Lityan/ Theta, Tabung Haji went to the courts to fight against KLSE`s order to delist Lityan/ Theta. Why did Tabung Haji opposed the delisting of Lityan/ Theta? Because they had invested too much money into Lityan/Theta and would have to write off hundreds of millions if Lityan/ Theta was delisted and later goes bankrupt. What Tabung Haji did was appoint new managers for Lityan/Theta and consolidate Lityan`s shares. Something like 30 lots of 1000 units becoming one new lot of 1000 units. And later, Rights issue at RM 1.00 nominal was offered to shareholders. But till today, Lityan/ Theta could not recover from its financial losses and is hovering at around 0.32 sen per unit. I guess the losses suffered by Tabung Haji and other shareholders is beyond recovery. Perisai is staring at either extremes of what I have just explained. So be very careful. Just go back and read what I posted during the period between March 2013 till September 2013 to understand the situation more clearly.

Everyone who follows Mr kcchongnz columns will agree that kcchongnz gives out good and well thought out advices. For that, we cannot thank him enough. His opinion on mutual funds especially Public Mutual is spot on target. I once got so frustrated with Public Mutual that I wrote a 3 page letter and handed it over to their Wealth Manager and asked her to forward it to their HQ.In my letter, I asked Public Mutual why I would want to waste my time and money investing in many of their non-performing funds. I highlighted that the rates of FD returns were higher than their non-performing funds and named some of the funds I held or had sold off. From my experience,I can safely conclude that their fund managers push their agents to sell slow moving funds that does not benefit its investors in the long run. After carrying out my research, I emailed my Public Mutual agent and asked him whether he was asked to promote slow moving or non-performing funds to their clients. He did not bother to reply to my queries, so I made my own conclusions. The agent had years earlier persuaded me to switched my portfolio from some performing funds to what he claimed was " sure Winners" at no cost in switching. Sad to say, I held those non-performing Public Mutual funds for many years and finally sold it off last year with no profits. These funds were Far East Dividend and China Select fund. Another was a Sukuk fund that the bank Wealth Manager says could pay out 4% to 6% per annum. I sold it off 18 months later because upon reading the annual shareholders report, Public Sukuk was lending out our money to "Highway concessionaires, plantation groups and Power plant operators at below 4% interest. So how can they pay me 4% to 6% per annum. Better invest on your own but with your eyes wide open.Learn from lessons taught by kcchongnz even if it is just discussions in a forum. Keep it up Mr KCCHONGNZ.

Guys, take note. Perisai`s pipe laying ship`s charter contract with KencanaSapura just ended. Its Mobile Offshore Production Unit Rubicone contract will also end by the end of September 2013. These two assets were the ones bringing in the bread (so to speak). Even if MOPU (Rubicone) gets a new contract elsewhere, it will need 6 months downtime for relocation. So you guys must realise that Perisai`s 4th Quarter 2013 earnings will be heavily impacted. Its FPSO ( floating production,storage and offloading vessel) Perisai Kamelia can only come on stream next year together with its jack-up drilling vessel Pacific 101. So far, no contracts in sight. If I were to be you guys, I will wait for further developments before I commit to buying Perisai. If we are uncertain, the best thing to do is to lay off the counter until you see a clearer picture. In share investing just like a surfer, you do not need to ride every wave. Just catch one or two big waves and enjoy the long rides. Remember, with fixed overheads and periodical payments to be made for its new assets which are yet to start operations, cash flow might be a problem.

I was actually referring to the Additional listing Announcement dated 12/06/13 where it was stated that 45,000 units were taken up at 0.785 sen. I guess I wasn`t referring to the latest announcement dated as 25/06/13.Thank you for the update.

Please be cautious when you are buying Perisai.Do not just base your buying on Investment Bankers` analysis.You should also pay attention to the actions of the Perisai Directors all these while.No doubt we can consider it as a growth stock for it has been ploughing every cent that it earns back into the company`s growth.My question is why is it that only minority shareholders have to grind their teeth and make do with no dividends and have to bear the risk of the fluctuations of the stock market while the Directors have become filthy rich even though they too do not receive any dividend payouts.The simple answer is: (1) The Directors get ESOS priced very low below the actual share price; (2)Some Directors get compensated handsomely for injecting their privately held assets into Perisai through cash as well as stocks priced very much below the market value (RPTs).(3) On top of all these, Perisai has to pay out goodwill for acquiring privately held assets.All these observations of mine actually drains money out of the Perisai coffers at only the expense of the minority shareholders.Why should we be suckers by bearing all these burdens while the Directors have become filthy rich by trading in ESOS and RPTs. What happens to your capital in a massive downtrend? You guys will have to wait a life time if you are lucky to recover your loss while these Directors have already recovered their capital many times over through ESOS and RPTs.I sold all my holdings in the recent run-up and will only consider buying in if the stock price comes closer to its latest ESOS which is priced at 78.5 sen.It brings no joy to the minority shareholders for the company to make massive profits but the profits is eventually used to fund RPTs and heavily discounted ESOS.Give my observations a thought my friends.Good day to all.Cheers.

Minitrader,you are right in your observations.This stock is definately being manipulated.There are unseen hands doing the selling and buying.Potentially,if the analysts and Investment Banks observations are correct,the counter should be hovering at a higher level but it is not.Maybe insiders in the company know something that we do not know.Who is offloading his shares should be very clear.We small timers do not hold such volumes to be sold.Is there any rigging of prices? I do not know.Some Directors may be selling through family members who may also hold substantial stakes in the company.Your guess is as good as mine. It becomes more murky if the stakes are held through offshore tax havens and the beneficial ownership can be hidden behind a smokescreen.My only complaint is minority shareholders in Perisai gets to eat bones while some Perisai Directors have become filthy rich just through ESOS and shares in exchange for assets(RPTs).

I do not like to trade frequently in the market because churning or trading frequently only makes your remisier rich while you may remain poor.What I normally do is do some research,buy stocks that I think will have good potentials to appreciate upwards in the future.Then do not bother about the stock for a very long time{play brain dead),years later when the price is favourable,wake up from my"coma",sell the stock.In our market,with T3 days for settlement,we are wasting our time trading frequently.Some of us are investors while some are traders.We will find our own comfort zone either as traders or as long term investors.Every market player have their own style.

kcchongnz,I am of the same opinion with you with regards to RPTs.Which kind soul unrelated to us will generously inject his personal money making machine into an entity where he will have to share his personal goodies with total strangers if he can reap all of it himself. RPTs comes under the jurisdictions of the KLSE and sometimes I am very uncomfortable with it.In the past I have owned shares of companies who go into RPTs with their Directors and eventually we shareholders have been ripped off. They pay inflated prices for rotten assets that eventually kill the company.Those KLSE watch dogs sometimes cannot "pakai at all".As for analysts and investment bankers all recommending a buy. We term it as "herd" mentality.Some analyst joker for whatever is his reason recommends a buy and everyone in his profession jumps into the bandwagon and echos the same thing.Do you know why? Because they are playing it safe.If their hunch is wrong,then everyone of them are wrong.They actually "cari makan" to ensure their bosses will not fault them for not picking the right stock.Everyone got it wrong, so it is ok. My two cents worth of opinion.Good day.Cheers.

Thank you all for your encouraging comments.Joshua Lee,it is not that I am not making a profit right now.Indeed my Perisai stock value right now is above my capital outlay and my holding costs for the last 7 years.I had to wait 6 1/2 years to break even.I invested in Perisai while it was still a Mesdeq counter.So you can imagine how I have been nursing the counter till today.My complain is the Perisai Directors have been very stingy with their dividends and some major shareholder is selling his holdings at around RM 1.08 to RM 1.14 thus suppressing its upwards momentum.Why do we invest in shares?It is either for capital gains or to enjoy a good dividend payout.Granted in its early years,Perisai had to plough back its profits to ensure growth.We as shareholders had no objections to such an approach.But 7 years later,I can see the Directors have become very wealthy while we loyal shareholders have not been amply rewarded.I can only realise some gains if I sell my entire Perisai portfolio.But that is not what I planned to do right now. Why can`t Perisai Directors follow the style of Public Bank,United Malacca,KLK (examples only) who through the years pay out good dividends and we also see its share appreciate in value over time.My fear is whatever gains I made can easily be wiped out in a down trend if there is a major meltdown of the KLSE. On the other hand,I know I have invested in the right industry(oil and gas)7 years ago.Only problem is some major shareholder is selling Perisai at a certain price thus preventing it from breaking RM 1.20.I hope he reads my views and understands the frustrations of minority shareholders.Otherwise some of us must gang up and attend the annual AGM to question the Directors.Good day to everyone.

Analysts can give buy calls and set high target prices but we must be very cautious of them.There is no free lunch in this dog eat dog world.How are we to know whether it is a genuine buy call or they have been paid by Company Directors to sing nice songs for certain counters.Perisai for the last 6 months has been a big letdown.The only people who made money are remisiers and most probably Perisai`s Directors who sold their shares at double their acquired price.The record will show that a certain Director got ESOS at 0.48 sen while another was given shares priced at 0.65 sen for asset acquisition.They can easily sell their cheaply acquired Perisai shares above RM1.00 and make huge gains and when the price drops to a certain level, they can pick it up again.We minority shareholders operate blind because we do not have inside information,so we do not know when to sell and when to buy.I have been holding Perisai for more than 7 years and despite the fact that Perisai makes profit every single year for the last 7 years,I only received 1% dividend once somewhere in year 2007 and bonus issue 5 for 4 about 4 years ago.I am fuming and want to blast Perisai Directors for taking us minority shareholders for a ride while they have become very wealthy.I hope others feel the same way I feel. I feel shortchanged.