Posted by dompeilee > 2024-05-10 15:59 | Report Abuse

Averaged UP @ 2.08 just now. As a point of interest, Kuchai's holdings in Great Eastern @ the takeover price alone is worth 2.13, not including the 66-68c in cash per shr once the latter's dividend is credited & disregarding all the other assets(Emerald Hill S'pore shophouse & 8 ha Semenyih land)

Posted by GS > 2024-05-11 08:10 | Report Abuse

anyone have the details for the following? kindly share.

from The Edge Malaysia Weekly : "Kuchai shareholders missed out on bonanza by a mere two days "

Posted by dompeilee > 2024-05-11 11:31 | Report Abuse

I'm disappointed by the CAP AYAM standard of the Edge's articles(which is why I have refused to buy a single copy of their publications since 2016...crammed with dvmb ads!) The shareholders' approval was given 4 days ago BUT the deal needs to wait until 3Q '24 to be completed. There's still room for adjustments since the OCBC takeover could be completed b4 then so the 188 mil equities specified in the original deal could turn into 263.9 mil CASH which is a significant difference from the balance sheet position when the deal was entered into. Furthermore, many minority Great Eastern holders are dissatisfied that the deal is proposed @ 0.8 X the fair value of the biz, so the offer could potentially go UP ! OCBC failed to take it over in 2004 & 2006 so I doubt they won't raise the bid just to get it RIGHT this time...

Posted by lionel messi > 2024-05-13 17:13 | Report Abuse

How will Kuchai shareholders benefit from this deal? Will they miss out completely after the recent EGM?

Posted by dompeilee > 2024-05-13 17:17 | Report Abuse

Like I said, the transfers of ownership have presumably not yet been executed as the EGM approval has to precede it & that approval was only obtained 6 days ago. The latest dividend from 3.032 million GEastern shrs will be credited to Kuchai, NOT SBagan.

Posted by star899 > 2024-05-14 07:29 | Report Abuse

Whether the deal could go through would not matter much.
Through the various proposals from the holding and associated companies, we can visualize how valuable and precious the assets are owned by Kuchai !!!
In other words, the share price might not have reflected its intrinsic value which only the insiders can know before the revaluations.

Posted by lionel messi > 2024-05-14 07:46 | Report Abuse

Thanks dompeilee and star899. Great insight. Much appreciated.

Posted by dompeilee > 2024-05-14 09:27 | Report Abuse

dompeilee

Averaged UP @ 2.08 just now. As a point of interest, Kuchai's holdings in Great Eastern @ the takeover price alone is worth 2.13, not including the 66-68c in cash per shr once the latter's dividend is credited & disregarding all the other assets(Emerald Hill S'pore shophouse & 8 ha Semenyih land)
3 days ago


Took some contra profit on Kuchai @ 2.30-2.35

Posted by Diamond7 > 2024-05-18 21:29 | Report Abuse

# Dompeilee
Congrats!
You took profit at 230/235

Cooling period....

Posted by lionel messi > 2024-05-20 11:44 | Report Abuse

What has KSeng got to do with this?

Posted by Soliday > 2024-05-20 17:50 | Report Abuse

looking positive, monitor awhile

Posted by Diamond7 > 2024-05-26 19:11 | Report Abuse

Kuchai Development, will distribute the Sg Bagan shares to shareholders . It will distribute the shares on the basis of 222 Sg Bagan shares for every 1,000 Kuchai Development shares held.

Posted by dompeilee > 2024-05-27 06:56 | Report Abuse

That's why the Edge is dvmb...cap ayam reporting...this deal is not a win-lose deal: it's win-win for both companies.If SBagan continues to rise, Kuchai shareholders will get MORE so the OCBC takeover benefits both enormously!

Posted by lionel messi > 2024-05-27 08:30 | Report Abuse

I think coming from the angle that Kuchai could have gotten more. Is there any possibility of adjustment or go around certain conditions to what was agreed at the EGM so that Kuchai will get a fairer deal?

Posted by AhPek > 2024-05-27 10:53 | Report Abuse

Sg Bagan will take over all assets and liabilities of Kuchai. All benefits are going to Sg Bagan. Kuchai is just a shell company. Might as well buy Sg Bagan in the open market rather than wait for that 222 shares.

Posted by AhPek > 2024-05-27 10:55 | Report Abuse

90%+ supported the resolution during the EGM. There is no going back.

Posted by zildjian > 2024-05-27 14:55 | Report Abuse

at the end kuchai become below RM0.800 ?

Posted by dompeilee > 2024-05-27 17:08 | Report Abuse

Great Eastern closes UP 73c on the SGX on fairly high vol of 165,100 shrs, nearly 3% above OCBC's offer. This can only be good for both Kuchai & SBagan as they are unlikely to need to accept the bid & can keep the viable option to sell on the open market instead.

Posted by lionel messi > 2024-06-27 14:36 | Report Abuse

Cut off date extended till 29 Oct 2024 is positive for Kuchai.

Posted by AhPek > 2024-06-28 15:51 | Report Abuse

Can Kuchai's shareholders still negotiate for a better deal from Sg Bagan after they have voted for the resolution?
Extending the date will not make any difference to the resolution. .

Posted by Diamond7 > 2024-06-29 15:07 | Report Abuse

Kuchai is still holding the GE shares

Can kuchai sell the GE shares to OCBC
Or must kuchai hand them to SBagan???

Posted by AhPek > 2024-06-30 00:28 | Report Abuse

Based on the approved resolution, Sg Bagan will definitely take over the assets and liabilities of Kuchai first before they will sell their GE shares to OCBC. I don't think Sg Bagan will allow Kuchai to sell direct to OCBC.

Posted by Diamond7 > 2024-06-30 17:48 | Report Abuse

July 12 th closing date!!!!

Posted by AhPek > 2024-07-12 23:13 | Report Abuse

Seen the latest announcement?

Posted by Diamond7 > 2024-07-13 17:41 | Report Abuse

GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months

Posted by Ahthau > 2024-08-02 12:07 | Report Abuse

Any chance Kuchai receive Great Eastern dividend declare recently ?

Posted by lionel messi > 2024-08-06 21:07 | Report Abuse

Sure. The GE shares are still residing in Kuchai.

Posted by BE_GREEEEEDY > 2024-08-10 10:35 | Report Abuse

potential $$$$$😋

Posted by Soliday > 2 months ago | Report Abuse

Result good, KUCHAI is back

Posted by AhPek > 1 month ago | Report Abuse

High volume lately. Something interesting coming?

Posted by Diamond7 > 1 month ago | Report Abuse

Wa
Why give 20 cents dividend?

Posted by Diamond7 > 1 month ago | Report Abuse

After the swap with SBagan
Kuchai will be a cash rich shell company!

Will SBagan be privatise after the swap?????

Posted by AhPek > 1 month ago | Report Abuse

Hope so. After the swap, Sg Bagan NTA should be around RM13, right???

Posted by dompeilee > 1 month ago | Report Abuse

Jumped into 25,000 Kuchai total @ $2.07 at the open.

Posted by dompeilee > 1 month ago | Report Abuse

Transfer of assets & SBagan shares finalized! Now just waiting for ex-date for 0.222 SBagan shares in exchange for each Kuchai share to be fixed...

Posted by Diamond7 > 1 month ago | Report Abuse

@Dompeilee
Excellent!!!
Yes!
Now SBagan moving up up

Once kuchai is alloted SBagan shares...
Share price will move up again!
Kuchai price very dependent on SBagan shares price!

Posted by speakup > 1 month ago | Report Abuse

I like Kuchai. A lot of good food there but I find parking there is a problem

Posted by Diamond7 > 1 month ago | Report Abuse

Yes
Later kuchai give you a basket of free gifts ... 🎁
Open the box!
U will find free "SBagan"😍

Posted by Diamond7 > 1 month ago | Report Abuse

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description (I) DISPOSAL OF SUBSTANTIALLY ALL THE ASSETS AND LIABILITIES IN KUCHAI DEVELOPMENT BERHAD ("KDB") TO SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN SG BAGAN ("SG BAGAN SHARES") ("DISPOSAL"); AND

(II) DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A CAPITAL REDUCTION AND REPAYMENT AND DIVIDEND-IN-SPECIE ("DISTRIBUTION")

(COLLECTIVELY, "PROPOSALS")
We refer to the Company's announcements dated 29 December 2023, 28 February 2024, 18 March 2024, 7 May 2024, 26 June 2024, 3 July 2024, 12 July 2024, 30 July 2024, 23 September 2024, 3 October 2024 and 10 October 2024 as well as the Company's circular dated 15 April 2024 ("Circular") in relation to the Proposals. Unless otherwise stated, the definitions used herein shall have the same meaning as defined in the said announcements and Circular.



Reference is made to Section 4 of the Circular and the Company's announcement on 10 October 2024 in relation to the completion of the Disposal.



On behalf of the Board, RHB Investment Bank wishes to announce that, following the completion of the Disposal, an application was submitted to Bursa Securities on 11 October 2024 to seek the guidance of Bursa Securities on whether KDB is considered as a Cash Company under Paragraph 8.03 of the Listing Requirements.



The Company is currently pending a decision from Bursa Securities on the abovementioned matter.



This announcement is dated 11 October 2024

Posted by dompeilee > 1 month ago | Report Abuse

Considering both the 20c dividend AND the upcoming SBagan dividend in specie, the yield is an astounding 69.3% @ the current price of $2.16!

Lelong LELONG! By 11 Dec the price will almost surely be above $2.35!

Posted by AhPek > 1 month ago | Report Abuse

What happen if the effective date for the take over of Kuchai assets and liabilities is before 11 Dec?

Posted by dompeilee > 1 month ago | Report Abuse

I'm neither a lawyer nor a corporate M&A expert but doesn't the latest announcement imply that SBagan already owns all of Kuchai's former assets except its cash pile & its Semenyih land while the latter already owns 26.7 mil of the former's shares?

Posted by AhPek > 1 month ago | Report Abuse

Oh, the deal already done? I thought they going to fix a date for the actual transfer.

Posted by Diamond7 > 1 week ago | Report Abuse

Dividend in specie on 21-Nov-2024

216 per 1000

Posted by TheContrarian > 3 days ago | Report Abuse

Will Kuchai price adjust down after it goes ex-dividend? How much will it adjust down?

Posted by AhPek > 1 day ago | Report Abuse

After adjustment, 1.40???

Posted by mf > 1 day ago | Report Abuse

Dow Jones

Dow Jones Industrial Average

43,417.66

-333.20

0.76%

Nasdaq

NASDAQ Composite

18,652.49

-455.15

2.38%

Posted by TheContrarian > 1 day ago | Report Abuse

Posted by AhPek > 8 hours ago | Report Abuse

After adjustment, 1.40???

How do you calculate to get RM1.40?

Posted by AhPek > 1 day ago | Report Abuse

Sorry. I think RM1.40 is the NTA not the adjusted price.

Posted by AhPek > 5 hours ago | Report Abuse

Sg Bagan =5.65
Kuchai =2.02
2.02-(5.65 ×0.216)=0.80