upon completion of the sale of NBPOL, the NA of Kulim will increase from RM2.96 (end 31st Dec 2013) to RM4.23. 44.29% of the new NA is cash, equivalent to RM1.87/share. So if you buy Kulim at RM3.50, your cost deduct cash is RM1.63 for other asset such as 51160 ha palm oil estate in johor including palm oil mill, to be listed EA Bhd share, Secret Garden and other companies. A bargain entering now?
The EGM has passed the sale of NBPOL this afternoon. In the present dropping of Ringgit Malaysia, the total value of GBP525.40 will cash in is RM2.83bil, additional RM80mil due to currency gain.
the good news is Plantation group Kulim (Malaysia) Bhd is optimistic that its bold move into new ventures in the oil and gas (O&G) sector will contribute 50% of its total revenue within the next 10 years. Its managing director Ahamad Mohamad said the company is on the lookout for a local partner for its upstream O&G business ventures. The company has received a greenlight from its shareholders for the disposal of its 49% equity in New Britain Palm Oil Ltd (NBPOL) to Sime Darby Bhd for RM2.75bn. Ahamad said Kulim has earmarked RM680m from the proceeds to finance its expansion into new areas of opportunity in the O&G sector, especially in Indonesia. Another RM170m will set aside for buying land in Indonesia, Sabah and Sarawak to increase its plantation landbanks. The company will distribute RM1bn of the disposal proceeds to its shareholders as dividends in a staggered basis over the next two years. (BT)
somedejking king, the distribution of the sales of NBPOL is based on the 1GBP = RM5.24, as hng33 mentioned above, now the currency is 1GBP=RM5.40, how the company distrubute the extra RM80mil from currency gain?
J Corp can privatise it as they can use the money from dividends to buyout the co, they no need to splash cash from own pocket and yet, if Kulim price still undervalue, then they can take the palm oil estate in Johor by cheap. After that all profit of Kulim is 100% own by J Corp.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
wannabeinvestor
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Posted by wannabeinvestor > 2014-10-28 10:56 | Report Abuse
good news but dropping share price..kulim always do the reverse..