Entitlement date for bonus and free warrant on 24 July

1. Bonus share 2 for 5
2. Free warrant 2 for 5 (exercise price for warrant RM 1.79)


Upcoming next catalyst will be special dividend

3. Special dividend RM 177m or 29.3sen/share (ex-bonus share)

It plans to use 32.7% of the proceeds or RM177mil – the largest portion of its intended utilisation – as a special cash dividend for its shareholders within six months of the completion of the disposal.

Add malton at 55sen

bought paramount at 2.30

sold back all jaks at 83.5-84sen

sold back all at 18.5sen, lack of momentum, resting first

bought back again all homeritz at 18.5sen

sold back all WB at 20.5sen

GOOOOOOOOOOOOOOOOOOOOO for second round

bought back all homweritz-WB at 19-19.5sen

sold back all WB at 19sen

So far, total trading 77m volume already exceeded total issue 75m volume, if stripping out major shareholder stake 56%, today most of the minority shareholder already exchanged trading 2 time with market maker keep accumulating from minority exchanging share

GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

Rebounding

Homeritiz -WA exercise price is 92 sen

Homeritiz -WB exercise price is 54 sen

Selling pressure ease off now as volume spike up to 46m traded or about 61% of 75m total listed volume

Total homeritze warrant-WB listed volume is 75m. Based on half day trading volume today already reach 32m exchange hand.

If stripping out control shareholder stake 56%, almost all minority shareholder have exchange their warrant entitlement already.

warrant premium = [(warrant price + exercise price) - underlying price] / underlying price

Homeritze warrant-WB = [(13sen + 54sen)- 64sen] / 64sen = 4%

Homeritze warrant-WB current premium is only 4%, is the MOST undemanding valuation for newly listed warrant

Add more at 16sen

bought homeritz-WB at 16.5-17.5sen

Tomorrow, new warrant b listed. Homeritz WB limit up

bought back at 89.5sen

Add LHI at 94sen

bought LHI at 96sen

sold back some toyoink

bought malton at 57sen

sold back TRC at 69sen

bought back sapura at 30.5sen

sold back bjcorp at 27sen

bought more Hohup at 53.5sen

sold back homertiz at 61.5, entitle all warrant

bought Gbg-WB at 41sen

sold back gamuda at 3.65

bought bjcorp at 26sen

bought gamuda at 3.60

Add hohup at 56.5sen

sold back all kps at 1.10

The sprint offer price for equity value RM900m. Therefore, KPS 20% stake only can get RM 180m. If take into account kps initial cost on acquire these 20% sprint about RM 120m + accumulated loss over year on sprint which incur operational loss since inception + interest cost on borrowing, total net gain on sprint is very minimum.

The good thing is that, kps can monetize these loss making associate sprint, channel capital to other viable business to growth its EPS.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6199385

bought back jaycorp at 96-98sen

bought hohup at 57.5sen

sold back at 99.5sen

add TRC at 62.5-63sen

bought back jaycorp at 1.05-1.06

sold back EWI at 69sen

sold back jaycorp at 1.08

Bonus warrant announced, ex date 27 these month June. These warrant already in money as conversion price only 55sen. Next month, homeritz will announce its Q result together with interim dividend. Expect much better Q result and higher dividend due to strengthen USD and benefited from trade war which shifted higher sale to Malaysia furniture exporter. Jaycorp, liihen, poh huat already runup ahead, furniture exporter theme returning.

bought jaycorp at 99.5-1.01

sold back sapura at 32sen

The most likely scenario to privatize bjland is through selective capital repayment in which bjland opt to repay capital other than major shareholder bjcorp. Its only selective to repay minority shareholder.

With divestment and monetize assets RM 520m, realize gain RM 200m in Vietnam, Bjland now have more than sufficient CASH to opt selective capital repayment to minority shareholder.

Through such selective capital repayment, it needless require any fund from bjcorp or VT fund to take over bjland at all. It just need to pass bjland board meeting and EGM to make use of bjland exiting cash hoard to repay minority shareholder. After selective capital repayment, it can successfully turning bjland to be fully own 100% by bjcrop later.

Currently, about 85% bjland already control by Bjcorp, therefore, minority shareholder altogether control only about 15%. Based on Bjland total share volume 4912m, minority shareholder share volume 736.8m.

Based on recent bjland target price 38sen offer to penta, the total minority shareholder value only about RM 280m. As Bjland recent monetize assets get CASH influx RM 520m, it is more than sufficient for bjland to fund these selective capital repayment to minority shareholder, if materialize, bjland have 90% upside.

While awaiting for bjland to be privatize soon, shareholder can expect GOOD Q result to be announce in next 2 week. Bjland will recognized about RM 200m gain profit from divestment of its subsidiary in Vietnam which completed on 1 Mac 2019. The gain from disposal give rise about 4 sen/share

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6020777

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6084657