Icon8888, u mean u work with Puncak O&G?

upsidedown119, can u copy & paste the news article here instead? U need to be a subscriber in order to have access to the entire news article. Thks.

all kok tokkers....nothing new

http://www.thesundaily.my/news/954891

http://www.btimes.com.my/Current_News/BTIMES/articles/MAXWAT/Article/

ronnie2u, be patient...4Q results coming soon...

no action is a good time to accummulate

good then u can buy more...

based on your crystal ball, ronnie2u? :-D

u guys r dreaming...

@upsidedown119, shareholders won't get the entire RM13.60 because S'gor gov't offer of 5.6b has an equity & liability portions. Only the equity portion is cash payable to Puncak, i.e. about RM2.80/share.

Gamuda's offer for SPLASH in 2010...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/62573

I think they'll let it die a "natural death" coz they've made an enough fool of themselves already. LOL!

Limit up would be +30 sen for penny stocks so not that easy.

Ala...just wait for the results. No point speculating and create unnecessary concerns. If cannot tahan then just sell.

Acceptance (if any) will usually come on the last day. This was how it was with the previous Feb 20 offer where KPS & Gamuda responded only on the last day.

http://www.thesundaily.my/news/887926

Let's all be reminded that the whole purpose of this forum is to share info in the hope of making us all some money. It is up to us to sift thru the facts & fakes. So, no point attacking people and start taking things personally.

If any of u really hv problems with some personalities here, stop hiding behind the comfort of your computers, meet up and slug it out. Please save the rest of us your squabbles here. Info only pleaseeeeeee!!

unice, there isn't a calculation of how much will be returned to shareholder (i.e. if the deal goes thru). One thing is for sure, shareholder shouldn't expect a 100% payout of the cash portion of sales proceed. If a 50% payout is expected, then based on the offer, shareholder may expect to get around RM1.80+/share.

taqies, I believe the meaning of 25% public spread is 25% no. of shares owned by shareholders with < 5% of shares. If that's the case, based on your diagram, only the top 4 are considered substantial shareholders (> 5%). So, public spread should be 41.54% (i.e. 100% - 58.46%).

Looks like Ngu has temporarily stopped disposing his shares.

YiStock, I think it really depends on individual fund's policy. However, I do think most local unit trust do not invest in ACE Market stocks. Funds like iCapital.biz is allowed to invest in ACE Market stocks.

Eh lloydlim....not confident already? I thought u r the one who kept boasting asking ppl to sell to u?

RHB downgrading to neutral....

We are turning cautious on Instacom given that two of its major
shareholders had pared down their interests in the company. With
limited visibility on contract flows and to err on the side of caution, we
cut our FY13/FY14 forecasts by 14%/29% respectively. We downgrade
the stock to NEUTRAL (from BUY), with a lower MYR0.29 FV (from
MYR0.51), based on a 10x FY14 P/E.
* Share/warrant selldown. In the last two months, the public faces of
Instacom – Anne Kung, CEO and Thomas Ngu, director of sales and
project management – had reduced their stake in the company. We
gather that Anne Kung’s 14.5% equity interest in Instacom is unchanged,
while Thomas Ngu pared his stake to 7.8% (from 14.5%). However, both
had disposed of all of their warrants (collectively, 29% or 102m units).
The other two major shareholders, Chan Chuck Yan and Wong Say
Khim, did not participate in the selldown.
* Selldown by insiders. We are alarmed by the recent development as
Anne Kung and Thomas Ngu are important individuals at Instacom from
the operating perspective. When contacted, they were not able to
provide satisfactory explanations. Hence, we are adopting a cautious
stance on the company and its prospects going forward.
* Forecasts. Given limited visibility on the group’s contract flows and
erring on the side of caution, we remove the fibre contribution of
MYR25m-26m and MYR205m worth of jobs from 1M Utama SB from our
financial model. We cut our FY13/FY14 forecasts by 14%/29%, as these
job wins in 2H13 as guided by Instacom have yet to materialise.
* Risks. Key risks are: i) growing trend among telcos to share their
networks, ii) regulatory and execution risks in setting up its infrastructure
assets, and iii) a slower-than-expected takeup of its services.
* Valuation & recommendation. Following the downward revision in our
forecasts and ascribing to a lower P/E multiple of 10x (from 13x) on
FY14 EPS, we derive a lower MYR0.29 FV (from MYR0.51). We
incorporate a higher discount factor of 50% (from 30%) against the target
P/Es of local mobile operators and regional/global tower-related
companies of about 20x to reflect its limited business visibility. All in, we
downgrade the stock to NEUTRAL (from Buy).

calvin, all u need to do is click "send verification email" because your account is not verified yet. Have u even attempted this yet?

The only other consolation is the 2 other substantial shareholders haven't sold a single share or warrant. So yes, watch out for 3Q results.

As pointed out by mililia somewhere in this forum, Instacom has long met the min. public spread of 25% requirement in order to transfer to Main Board. See below. Well there is other rumor like Ngu is leaving but it's just a rumor.

=================

Posted by mililia > Nov 3, 2013 11:08 AM | Report Abuse

skng:- Referring to your statement above, I wish to make some correction...

1. Intention to deal can mean both way, dispose or acquire.
2. And since your concern is such that Ms. Anne may sell based on public spread... Then I think the right way is to define what is "public spread". Referring to definition below...

"Public investors are defined as investors with less than 5% shareholding and not related to directors of the company. The 25% public spread must also meet the minimum requirement of 1,000 public shareholders holding no few than 100 shares."

If you read the 2012 annual report (page 77) even before the ED selling:-

1. The public spread is 34.64%. There are 4 directors that are holding around 65.36%.
2. There 4,572 that are holding no less than 100 shares.

The company has long met the listing requirement!

AyamTua, no need to apologize. Those who blame are almost always those who read, listen and act blindly without knowledge.

Though I don't buy completely into your "promotion" (and Calvin's especially), it is you guys who made me take notice of this counter and do my own research and make my own decision.

davidkkw79 aka mr lansi, even if it's true don't need to say it.

HongPohSeng, u would obviously know the director Mr Ngu disposed a lot more than that if u refer to Bursa company announcements.

4u2c, if u're looking at the financial figures from i3investor website then you may be getting the wrong idea. Those figures before 2012 belonged to I-POWER which INSTACOM did a RTO on.

For a more accurate financials, see below:

http://cdn1.i3investor.com/my/files/dfgs88n/2013/09/30/1479298878-1824635063.pdf

BNM kept OPR unchanged at 3%. This may be a reason for stocks to advance tomorrow.

BNM kept OPR unchanged at 3%. This can be a reason for stocks to advance tomorrow.

http://cdn1.i3investor.com/my/files/dfgs88n/2013/09/30/1479298878-1824635063.pdf

Although this research is by its sponsor, it still has a lot of helpful info. RHB's TP is based on FY14. If I base it off FY13 earnings with a PE of 13x:

1) TP of 40 sen for a fully dilutive scenario, i.e. conversion of all 351m warrants to mother share.
2) TP of 52 sen, assuming no conversion of warrants at all.

Thanks mililia, you've a point there on the disposal.

Another reason may be to further increase the free float in the market as Ms Anne did mention instituitional funds are interested in acquiring a stake in the company.

mililia, thanks for pointing that out. Yes, my bad and I've removed the entry so as not to misled fellow forumers.

In that case, any thoughts on why the ED disposed such a huge chunk over 3 weeks? And if it is related to the change of auditors?

I guess it just mean the company is confident of meeting at least RM15m in profits for FY13 which seems reasonable since 1H2013 has already met 97% of this forecast.

KClow, if "no thanks" then just get lost la...no need to talk so much...u too free nothing to do is it?

Those of you who love to have forum fights here, please spare the rest. You guys can always setup an appointment, meet up, and have a real fist fight. Only cowards hide behind the comfort of a forum and fight like kids.

u england are so bleedy best! hahaha

http://www.thesundaily.my/news/788909

Based on the above news article, Instacom targets RM300M revenue by end 2015. If we apply a 20% net margin (last 2 qtrs show 20% isn’t an unreasonable figure), net profit should be RM60M. Divide that with 702M shares give an EPS of 8.55 sen. If we apply a conservative PE of 8, it will give us a share price of 68.4 sen. That is a potential 235% gain in 2 years. That is the longer term target. For the immediate term, their intention to transfer to Main Board will also give the price a boost.

So far 2 qtrs of results showed promise. However, since there is no track record yet, the next few qtrly results will be a good indication how this company will fare.

rimrim, he still has 10% of shares. Only the warrants are all sold off.

Calvin, do u know if the assets owned by PMCorp are income-generating, i.e. rental? If one division of this company is in real estate then I don't see any investment income from it. Care to shed some light? Thanks.

Calvin, if PMCORP's real estate assets are worth so much, wouldn't it make sense for the company to perform a revaluation? Why isn't the company doing that? By doing this wouldn't it immediately bump up its NTA?

It will surely be in cash because KPS' parent company, KDEB, needs it in cash to partly fund KHSB buyout.

SHAH ALAM: Negotiations between the Selangor and federal governments on the restructuring of water services industry in the state have reached a "breakthrough", according to Selangor Mentri Besar Tan Sri Khalid Ibrahim.

"We are close. So close that I can now make an announcement that we will complete by year end, and statements on this matter from both the federal and state governments are no longer contradicting each other," he said.

Both federal and state governments have set Dec 31 as a target date to conclude talks.

Khalid said a letter from the Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili, dated Sept 9, stated that they were confident the water services industry restructuring exercise would be completed before Dec 31.

The letter also stated that the Ministry had considered the arguments and facts from the state government, said Khalid.

Khalid expressed his gratitude to Dr Ongkili, who gave a personal commitment to ensure water management would be handed over to the state government in accordance to the Water Services Industry Act 2006.

Khalid said there were two "sensitive areas" in negotiations, which are the valuation of the water concessionaires and the modus operandi of the takeover.

"We see some differences in perception of the valuation, but it is not a situation that will break the arrangement," he said.

On the modus operandi of the takeover, he said the state government is trying to convince the federal government to agree that the water assets and management would be parked under a special purpose vehicle owned by the state government.

The state government had made three bids to take over water management from all four water concessionaire companies in Selangor.

On Feb 20, the state government made a RM9.65bil offer to take over Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd, Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Holding (Splash).

Previously, the state government in 2009 made a bid of RM5.7bil but was rejected by all parties. A subsequent offer of RM9.2bil was made in 2011 but was rejected by Puncak Niaga and Syabas.

The federal government holds one golden share in Syabas through the Minister of Finance Inc.

Also part of the talks is the development of the RM3bil Langat 2 water treatment plant, which is a federal project but its construction has to be approved by the state government under the Land Code.
The plant will receive raw water from Pahang via an underground tunnel, which is almost complete, and can process 1,130 million litres of water per day (MLD).

- Taken from Star Online

SHAH ALAM: Negotiations between the Selangor and federal governments on the restructuring of water services industry in the state have reached a "breakthrough", according to Selangor Mentri Besar Tan Sri Khalid Ibrahim.

"We are close. So close that I can now make an announcement that we will complete by year end, and statements on this matter from both the federal and state governments are no longer contradicting each other," he said.

Both federal and state governments have set Dec 31 as a target date to conclude talks.

Khalid said a letter from the Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili, dated Sept 9, stated that they were confident the water services industry restructuring exercise would be completed before Dec 31.

The letter also stated that the Ministry had considered the arguments and facts from the state government, said Khalid.

Khalid expressed his gratitude to Dr Ongkili, who gave a personal commitment to ensure water management would be handed over to the state government in accordance to the Water Services Industry Act 2006.

Khalid said there were two "sensitive areas" in negotiations, which are the valuation of the water concessionaires and the modus operandi of the takeover.

"We see some differences in perception of the valuation, but it is not a situation that will break the arrangement," he said.

On the modus operandi of the takeover, he said the state government is trying to convince the federal government to agree that the water assets and management would be parked under a special purpose vehicle owned by the state government.

The state government had made three bids to take over water management from all four water concessionaire companies in Selangor.

On Feb 20, the state government made a RM9.65bil offer to take over Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd, Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Holding (Splash).

Previously, the state government in 2009 made a bid of RM5.7bil but was rejected by all parties. A subsequent offer of RM9.2bil was made in 2011 but was rejected by Puncak Niaga and Syabas.

The federal government holds one golden share in Syabas through the Minister of Finance Inc.

Also part of the talks is the development of the RM3bil Langat 2 water treatment plant, which is a federal project but its construction has to be approved by the state government under the Land Code.
The plant will receive raw water from Pahang via an underground tunnel, which is almost complete, and can process 1,130 million litres of water per day (MLD).

- taken from Star Online

inwest88, what I meant is on ex-date INSTACO share price will drop by a certain amount, right? Any idea on how much it'll drop by? TQ.

Inwest88, do u by any chance know how to calc the ex warrant price?

inwest88, just let him express his opinion...not point wasting time explaining coz i think his mind is set that this stk isn't feasible to him.