Posted by SincereStock > 2021-07-08 17:17 | Report Abuse

thanks for enlighten @Inv3st0r69, I also thought of that, considering index crash and political issue by umno, I suspect is fear selling instead of real news

Posted by SincereStock > 2021-07-08 17:20 | Report Abuse

I doubt politic can affect privatization of this company too, as this company is owned 51% by a personal individual

Posted by idkdontaskmelol > 2021-07-08 17:21 | Report Abuse

Kikiki Inv3st0r69 got stuck. Simply say volume small, go see your volume, the laz time vol this high is 22 jun, bcoz got news ony. Shark havent leave all, but slowly leave ma. So today might be laz day to c rm1.80. Kikiki. Semua sudah kena game kikiki

Posted by goldenluck16 > 2021-07-08 17:27 | Report Abuse

Anytime can call off the offer. Beware.

Posted by ziyang8896 > 2021-07-08 17:34 | Report Abuse

@inv3sor69 , you are right . Actually bad market is good for the offeror ..most of the buyers are for arbitrage play , RM2.00 is very good deal for them..up to date already 330 m shares( equal to 20%) voting shares have changed hand since announcement of the SCR

Posted by SincereStock > 2021-07-08 17:38 | Report Abuse

true, no point to call off the offer by the offeror

Posted by ziyang8896 > 2021-07-08 17:38 | Report Abuse

Very common when market is quite bad and come with panic selling or opt to switch counter for better return..

Posted by Nurimran87 > 2021-07-08 17:39 | Report Abuse

Its possible offeror suddenly cancel the deal?

Posted by SincereStock > 2021-07-08 17:42 | Report Abuse

unless there is official news, let's just assume it is panic selling

anyone with news please kindly share here with source, not just any rumour you heard, thank you

Posted by Syndicates > 2021-07-09 12:48 | Report Abuse

my source is telling me this stock gonna crash

Source:
idkdontaskmelol politikus lg. heard privatization oso tak jadi sbb politikus. Shark leaving oredi lor. Cabut, jgn tak cabut

Posted by sethoylo > 2021-07-09 13:55 | Report Abuse

cancel deal may make this counter fly higher... as no more limitation

Posted by idkdontaskmelol > 2021-07-09 14:49 | Report Abuse

Syndicates my source is telling me this stock gonna crash

yes sir, i think same source as u oso. i receive yesterday, later more ppl will get the news, few groups got ady

Posted by Syndicates > 2021-07-09 14:57 | Report Abuse

no sir, i am telling my source is from you.

Posted by Inv3st0r69 > 2021-07-09 17:36 | Report Abuse

yeah im stuck huhu.. u guys must be either big shot in PNB or closely related to TS to know this deal not going to go through..

Since u guys are close, tell la explicitly where and who is ur source, pity la small fish like me..

@Nurimran87 u can call check with the offeror ask him directly.. but if he cancels surely will get heavy penalty from the SC, i dont think they want to go out having bad terms with the sc, since their ultimate plan is to list the port in the future.. they cant do chain listing, so for TS, he has more to lose if this SCR didnt go through.. just my 2 cents

Posted by SincereStock > 2021-07-09 19:49 | Report Abuse

@Inv3st0r69 more likely just random guy spread fake rumours try to collect cheap, plus bad market sentiment, sudden but temporary slight drop from 1.8 to 1.72 is acceptable, consolidated at 1.76 now, will back to 1.8 again soon until further privatization progress announcement. this my personal view la, so no need source hehe, invest at your own risk

Posted by SincereStock > 2021-07-09 19:50 | Report Abuse

by the way I topped up a few at 1.75

Posted by AllanTingAS > 2021-07-10 13:19 | Report Abuse

I don't think they will cancel the proposal. Only worry is the SRC can not be approved by share holders. You need to vote!

Posted by jimchoe > 2021-07-10 13:23 | Report Abuse

besides not approved by shareholders, could SRC face a revised terms on pricing?

Posted by stockraider > 2021-07-10 13:45 | Report Abuse

1}Look here the privatization deal at Rm 2.00, cannot be cancel by the offerer, it can be cancel only when authorities reject the deal or the minority shareholders reject in a successful winning votes mah!
If they allow to withdraw offer, then anybody can play play offer high high price to takeover & then pullout mah!
Thats why the investment bank appointed must make sure got money to privatize, b4 announce loh!

2} The offer price cannot revise downwards, below the earlier offer price of Rm 2.00, if like that anybody can offer high high price & quickly down revise offer price to Rm 0.40 to kill the deal mah!
But if the offer price can revise upwards loh!
Reason bcos pay more every body should be happy mah!




AllanTingAS I don't think they will cancel the proposal. Only worry is the SRC can not be approved by share holders. You need to vote!
10/07/2021 1:19 PM



jimchoe besides not approved by shareholders, could SRC face a revised terms on pricing?

Posted by SincereStock > 2021-07-10 15:13 | Report Abuse

imo, not making any good sense for minor shareholders to reject this offer, reject = auto making loss until price go beyond rm2 in the market, which is never promised

Posted by Syndicates > 2021-07-10 15:45 | Report Abuse

BOD's deliberation is due on next Thursday. if they reject, means bye bye. they will decide whether to go through this proposal or not from taking shareholder's benefit into consideration. meaning to say, is RM2 a good deal for them or not.

Posted by Pinky > 2021-07-10 16:36 | Report Abuse

Last price 1.76

Latest annual dividend 5.0 sen

MMC has history of steady, if not slowly growing dividend (last year was 4.5 sen)

Let's just assume stagnant at 5.0 sen, and you get "trapped" at current price when the privatisation doesn't proceed ahead

0.05 / 1.76 x 100% = 2.84% dividend yield

Similar to Westport's

Of course I wouldn't be buying in for the 2.84% divvy yield

But this yield is not too bad, "IF" you get trapped

Good luck all

Posted by DLLKT > 2021-07-10 17:00 | Report Abuse

The very important point which we need to pay attention at Boustead plantation is their 30 largest shareholder latest list. Negeri Sembilan Palm Oils Berhad and Chin Teik Plantation Berhad has listed in their top 10 list!!! Both company control by same major shareholder

Take over target is very very LIKELY !!!

Posted by ykyew11 > 2021-07-10 17:03 | Report Abuse

@Syndicates

Can they really cancel it just like that? I don't think it is as easy as you are making it out to be and I am sure there are consequences for cancelling it if that is an option. If that is the case, then I feel that this is exploitation against minority shareholders, any company can just announce SCR at a higher price and just cancel it off as they please. By doing so, they can make easy money through warrants doing this. Not sure whether this is legal in practice but this certainly doesn't sound legal at all.

I am also curious though, how many SCR's have been cancelled in the past without going through the shareholders vote?

Posted by Inv3st0r69 > 2021-07-10 17:43 | Report Abuse

@DLLKT dont play play with my feeling by saying "very very LIKELY"..

Posted by Inv3st0r69 > 2021-07-10 17:53 | Report Abuse

@ykyew11 from the historical data that i collected, only zecon berhad's SCR back in 2013 (if not wrong) didnt go thru before tabling it to the shareholders, and that was because one of the directors have enough shares to block the deal, and he was didnt agree with that price and has stated his intention at the board meeting that he will reject the price. after that automatically the deal aborted.

For mmc case, the non interested directors has no shares in mmc, so theres no reason for them to reject before tabling it to the shareholders. and i dont see any PNB board rep, so we wouldnt kno until egm PNB's decision on this offer

Posted by Syndicates > 2021-07-10 23:44 | Report Abuse

in order to be privatized, must have 75% of vote during egm. that director already owned more than 25%, so it's meaningless to bring forward to egm. therefore the plan is rejected before egm.

what i'm trying to say is this proposal haven't been approved by the BOD of MMC. BOD have to vote whether to proceed with this proposal or not. at current stage it's just merely an offer letter from SM. if the proposal can straight away bring to egm without consent of the BODs, any Ah Beng Ah Lian also can anyhow propose privatisation at low offer price, wasting time and resource of the company.

of course i believe SM already discussed informally with the BODs before deciding the offer price. the risk is there, though minimal, but it's not 0.

Posted by Mohd Yazid Mohd Ali > 2021-07-11 13:07 | Report Abuse

TP 4.00 ,WEST PORT 4.50 ,BIPORT 4.25 VERY SOON

Posted by ziyang8896 > 2021-07-12 14:23 | Report Abuse

It doesn't make sense after appointed the independent adviser before they accepted. The Independent adviser is to appoint to advise non interest parties to vote in EGM not to advise directors for the proposal

Posted by Level-headed Investor > 2021-07-12 14:41 | Report Abuse

@ziyang8896, thought the appointment of IA is to advice both - BOD as well as all shareholders.

Posted by Syndicates > 2021-07-12 14:48 | Report Abuse

it does

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3161995

you may see coming announcement which is due on coming thursday

Posted by emsvsi > 2021-07-12 14:56 | Report Abuse

There is zero chance the Offerors will withdraw la lol


Can the SCR fail..? Of course, when shareholders reject the offer. But the only non-interested party who has that 'clout' is PNB. Note however that when MMC took over Northport, they bought a bloc of shares - the seller? PNB. For all intents and purposes, they are friendly parties


But, how then do you explain the drop in the share price...
See: Kwantas which is the latest successful SCR

Posted by Syndicates > 2021-07-12 14:57 | Report Abuse

BOD also need adviser report before making decision. if BOD solely relying on recommendation by independent adviser, then nothing to worry. i foresee the report would be saying unfair because it's below nta, but reasonable because it's higher than 5 years historical vwap, and recommend to vote in favour.



Alliance Investment Bank Berhad has been appointed by the Board, save for Cik Sharifah Sofia Syed Mokhtar Shah (“Cik Sharifah Sofia”) who is an interested director, as the Independent Adviser to provide their comments, opinions, information and recommendation in respect of the Proposed SCR to:



the Board, save for Cik Sharifah Sofia; and
all the shareholders of MMC (other than STJSB and persons acting in concert with them) whose names appear in the Record of Depositors of MMC as at the close of business on an entitlement date to be determined and announced later by the Board (“Entitled Shareholders”).

Posted by Syndicates > 2021-07-12 15:01 | Report Abuse

offeror won't withdraw but offeree has the right to accept/reject the offer. the current stage is at BOD's deicision making. this is the SOP. not zero risk but minimal.

read the last 2 pages of the proposal to understand what i am saying.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=115360&name=EA_GA_ATTACHMENTS

Posted by Level-headed Investor > 2021-07-12 15:06 | Report Abuse

Anyway, with the current shareholder structure, it's almost certain to proceed to next step.

Posted by firehawk > 2021-07-12 17:44 | Report Abuse

if I'm not wrong, BOD was given until 15Jul to consider.

Posted by ziyang8896 > 2021-07-12 17:45 | Report Abuse

@syndicates, how does the board make decisions if the IA tell them to reject the offer then how do they to let non interest shareholders to decide? Still go ahead to held EGM ? Are you kidding? Please refer to the every announcement from am property ,same RHB as adviser .. please tell me was there any announcement about the BOD decisions before they submit to SC , currently status is pending for coming EGM

Posted by ziyang8896 > 2021-07-12 17:52 | Report Abuse

By right the BOD needs to make decision before appoint Adviser and Independent adviser. So I believe they skid this step direct appoint advisers. This is not I presume..I just refer to Am property SCR progress

Posted by sethoylo > 2021-07-12 17:56 | Report Abuse

thank for enlighten.. just sit still we heading to RM2.00

Posted by ziyang8896 > 2021-07-12 17:57 | Report Abuse

Maybe the Am property BOD forgot to announce the decision. If refer to PPG or MTD ,yes , the BOD did announce.

Posted by Johnzhang > 2021-07-12 19:39 | Report Abuse

I don't think there is any good reason for the Board to reject this proposal without letting disinterested shareholders to vote as the offer is not totally unfair. I think we should be more concern if SM is genuine in the offer .

Posted by Syndicates > 2021-07-12 20:35 | Report Abuse

if you insist you are right, you dont accept opinion of others, i can't help you by giving my professional analysis. amprop did deliberation, you overlooked.



Syndicates it does

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3161995
you may see coming announcement which is due on coming thursday
12/07/2021 2:48 PM

Posted by Syndicates > 2021-07-12 20:37 | Report Abuse

an advise is not a decision. adviser is not decision maker.
like i'm giving you my opinion but you think i am bullshetting

Posted by ziyang8896 > 2021-07-12 23:25 | Report Abuse

@Syndicate,you are right, I overlooked the announcement.

Posted by Inv3st0r69 > 2021-07-13 08:59 | Report Abuse

ok im confused now, what are we trying to prove now?

Posted by Inv3st0r69 > 2021-07-13 09:06 | Report Abuse

@Kareemabduljabbar yeah, usually at this stage IA was appointed to come up with the prelim opinion to the independent directors, they will deliberate and pass to shareholders to decide. And directors deliberation should not be taken as the eventual outcome.

U have to understand, the paperwork involved for this SCR is massive.. extension can be sought by the directors of offeree if the IA still requires additional time to come up with their valuation. under the rules of take over, they have a very strict timeline. luckily for scr, the start date can be moved based on the board deliberation date.

Posted by ziyang8896 > 2021-07-13 09:53 | Report Abuse

I believe the directors will go to EGM to let shareholders to decide. In terms of offer price and currently market situation..I think most of the minority shareholders are eager to vote yes.Actually the IA should be just advise for shareholders and the main adviser is advise the directors. It shows no conflicts interest in between minority shareholders and directors.Fir my opinion,once IA appointed,it means they have intended to hold EGM to let shareholders to decide.

Posted by emsvsi > 2021-07-13 12:51 | Report Abuse

You guys still don't understand do you

There's zero chance the offer will be withdrawn

And so, the SCR will go to the shareholders to vote. What basis does the board have for rejecting lol

Then its up to the non-interested parties. In fact, there is a higher likelihood that the offer will be revised upwards - why? because both the Offeror and the major non-interested party PNB are bumiputera leaders - it will be in both their interests and PR/image to increase the offer price

And we all say goodbye to the goose that lays the golden eggs

And when the Port (alone) is IPO'd, it will be many many times the current price

Posted by emsvsi > 2021-07-13 13:11 | Report Abuse

Someone just offered RM 2 in cash per share, you dare to reject? Without extending it to shareholders? When the price since 2020 has been below RM1? Lol

The board wants to get fired on the spot? ha ha ha (and unlike Serba's directors...this will indeed be justified lol)

Posted by emsvsi > 2021-07-13 13:18 | Report Abuse

In fact, the board will get sued for breaching their fiduciary duty to shareholders

Just sit back and relax and let the naysayers comment while we laugh at their baboon-brains