SMRT wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved the request for suspension for the trading of SMRT’s securities with effect from 9.00 a.m. to 5.00 p.m. on Monday, 12 January 2015. The request for suspension is made under subparagraphs 3.1(b)(i) and (ii) of Guidance Note 12 of the ACE Market Listing Requirements of Bursa Securities (“Listing Requirements”) in view that SMRT intends to hold a press conference and make a material announcement on a transaction as defined under Rule 10.02(j) of the Listing Requirements, where the percentage ratio calculated in accordance with Chapter 10 of the Listing Requirements is 25% or more.
i think smrt is doing great. even the deal is off. SMRT is still fundamentally good. if you do not hold any shares of megb, it will be fine. I deeply believe that SMRT will have big and good news to announce as they intend to hold press conference. Simple announcement through BURSA does not utilise the goodness of this upcoming announcement.
It is kinda expected, what i think is that, main market will be delayed because of smrt acquisition of megb, probably gonna incur some cost of borrowings and losses if megb still lose money, so its profit might not be that high and earnings visibility will not be clear, thus maybank advise the company to cancle its transfer and focus on its acquisition first, after megb is turnaround in 2015, smrt will be applying again
if withdraw maybe coz of next quarter cant meet the expectation (rules) due to the acquisition ? anyway, let's wait next monday what the mgmt will tell .....
have a rest in the coming weekend and prepare more challenging on next week announcement.
p/s :please dont blame anyone. buy sell is own decision. ^^
Not vested here, but from the way on how the announcements are scheduled do not reflect well on the Management. The decision not to move to mainboard came 1 day after they made known the mainboard greenlight. Premediated? Or their strategic decision making is questionable where the abrupt change in 1 day.
Hahha..blive its good news coming. The mainboard transfer delay may due to the need to issue new securities...private placement perhaps..to fund part of the aquisition...and wont be surprise creador will take up the p.p...
Creador could not buy smrt because of fund size issue, and market cap below usd 100million, anyway the main market transfer would not derail the acquisition, it is just delayed i guess, lets wait
Pls read carefuly on yesterday announcenent..its a letter recvd from MITI..on no objection on the proposed transfer as SMRT has fulffill certain requirement...and it was not a approval letter from bursa..
Yesterday announcement is telling you that smrt meets the miti criteria to be transferred, it is not an sc approval, i think it is either because of the acquisition of megb, or new issuance of securities as mentioned by munger, it had to cancle the transfer plan in the mean time, and delay to next year, fundamentals doesnt change guys
Hi Alpha trader, think there is no limitation on company size for creador to invset in?..as a private equity fund..they can even invest in smaller private co,..ie. CTOS system Sdn Bhd..which they recently invested heavily in...
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Keegan Woon Chi Kit
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Posted by Keegan Woon Chi Kit > 2015-01-09 17:25 | Report Abuse
@aliimam the news will be release today right?