Posted by ziyang8896 > 2021-07-13 14:14 | Report Abuse

@Emsvsi, totally agree.But bad market always bring along a lot of fears to the proposal.

Posted by petnch2020 > 2021-07-13 16:46 | Report Abuse

I think most of this is panic selling. As i mentioned earlier, SCR is a binary play for the offeror (Tan Sri Syed Mokhtar). If the deal gets rejected during the EGM (will only need 10% of minority to reject or in MMC case 4.8% of total shares outstanding) he would have wasted time and money in the exercise.

It would have been easier for him to forced a privitisation by doing a General Offer. Given that he already owns 51.8% and PNB 21.0%, he would only need to buy less than 3% from other minority to forced a privatization. Once the free float is below 25%, MMC is basically in breach of Bursa listing requirement forcing the company to either increase the float or force delisting.

Most likely Tan Sri would have already approach PNB prior to the SCR exercise. Which is why i believe that PNB would except this deal once it reaches the EGM.

Agree with emsvsi. BOD will just deliberate and decide to present the offer to the shareholders. Just look at BOD members. Most of them are Tan Sri guys anyway.

Posted by petnch2020 > 2021-07-13 16:52 | Report Abuse

We also need to understand why Tan Sri is doing this SCR. It's mainly for the restructuring of MMC group in order to facilitate the listing (IPO) of the port business. To say that he decides to abandon the SCR would mean that he is also abandoning the port business IPO. I just dont believe that is the case. It's known amongst the market participants that he has been looking to monetise the port business since 2017. Now would be the best to do so given the bullish trade environment.

Posted by Sslee > 2021-07-13 17:18 | Report Abuse

SRC the money come from MMC.
If VGO Tan Sri need to show proved of financial mean (Bank support) to SC and Bursa to offer VGO

Posted by Sslee > 2021-07-13 17:28 | Report Abuse

SRC the final result is either success or fail.
If VGO Tan sri need to accept whoever accept the offer and at the end Tan Sri can only increase his shareholder but unable to privatise MMC for him to do the relisting of Port Business.

Posted by firehawk > 2021-07-13 17:42 | Report Abuse

BOD probably will accept the proposal and let the share holders to decide in EGM.

Posted by keithtrade > 2021-07-13 18:21 | Report Abuse

I think the board meeting is to decide/confirm if the board will recommend the shareholders to accept the offer at the EGM and formulate and official statement also explaining why.

Posted by stockraider > 2021-07-13 18:28 | Report Abuse

Board can disagree with the privatization, but they still need to table the proposal for shareholder approval loh!

Also they must appoint an independent advisor for minority shareholders mah!

Posted by firehawk > 2021-07-13 22:49 | Report Abuse

More precisely, BOD accepts the proposal means they agree to implement the proposal (call EGM to present to shareholders, etc). They, of course, can reject the proposal, but looking at the role Syed Mokhtar in MMC, is quite unbelievable this would happen :D :D

Posted by facsc118 > 2021-07-14 18:10 | Report Abuse

EOT till 30 Aug 2021 six week wooh

Posted by facsc118 > 2021-07-14 18:11 | Report Abuse

why need six week to decide

Posted by idkdontaskmelol > 2021-07-14 18:25 | Report Abuse

First announcement out, those pm me 1 that day. U r welcome :)

Posted by Syndicates > 2021-07-14 19:18 | Report Abuse

there's insider trading within the stock, twice. so follow with the price movement then we can guess the outcome next.

Posted by ziyang8896 > 2021-07-14 20:10 | Report Abuse

My opinion is should be documents preparation delay due to MCO.

Posted by Inv3st0r69 > 2021-07-14 20:40 | Report Abuse

haha so u think TS made the offer, to his company, where Board all appointed by "him", and then the Board deliberated to reject the offer.. dont u all think that whatever plan TS had in mind, TS would have conveyed it to them.. or do i miss anything here?

Posted by petnch2020 > 2021-07-15 09:02 | Report Abuse

Investor69,

I agree with your assessment.

As per what ziyang mentioned, the extension of deadline would most probably due to delay in preparation of documents due to the FMCO and EMCO.

BOD will deliberate the offer for minority shareholders to vote.

During the EGM, the only party that has enough shares to vote down the offer is PNB. Given Tan Sri relationship with them, I think it is highly likely that he had already discuss with PNB on the offer prior to the announcement. Which is why I believe the probability for the SCR to go through is high.

If shareholder approved of the offer during the EGM, it is as good as saying MMC is worth RM2. Most of the time share price will move very close to the offer price after the EGM.

From my research, most of the stocks that succeed in their EGM would trade at less than 5% to the offer price.

Post EGM,
Pelangi traded at 35 sens (offer price 36.5 sens).
MTD Acpi traded at 27 sens (offer at 28 sens)
Degem traded at 1.08 (offer at 1.10)
Mintye traded at 1.33 (offer at 1.36)

The only one that traded at more than 5% discount was Kwantas. Post EGM it traded at 1.45 (offer at 1.65)

Basically to get the payout you might not need to wait till the completion.

Posted by emsvsi > 2021-07-15 09:30 | Report Abuse

Where's the withdrawal of the offer and sell down

Already horse back cannon now confirmed only hold few shares ha ha ha

Don't have shares don't be wannabe smalltimer sharks la

Posted by emsvsi > 2021-07-15 09:31 | Report Abuse

You just proved to the whole world u are bilis. Next time keep quiet

Posted by katakmampus > 2021-07-15 10:40 | Report Abuse

You are just showing youself as a extremist, egoist, not willing to accept someone who is against your view. Give youself a life, learn to view from other perspective.

From the sentence you commented, you are contradicting yourself. First comment asking people don't be horse back cannon but you criticized the naysayer to keep quiet at the second comment. If the outcome is another way round, would you still writing these two comments? This action is showing you are a horse back cannon too.

Ask yourself, were you criticizing naysayer with reason of they pointed out the view that against you? Or because they are simply giving view with no basis?

Posted by katakmampus > 2021-07-15 10:56 | Report Abuse

I'm not buying into this stock yet, but I love to see things from many view. That's how I assess the risk, not believe into something blindly, giving hope that the outcome will be in favor of me.

From the comments I read, the supporters think the proposal will be accepted by the directors because they opined that all these directors work for TSSM and appointed by him.
For people who against them, they think it's political factors could affect the proposal. While another is pointing the there is risk of directors deliberation before the EGM.
All these view are true and make sense, depends on your view from which angle.
This is discussion forum I believe, isn't? My purpose of comments here is to encourage discussion culture here, not promoting to comment only one side view.

Posted by idkdontaskmelol > 2021-07-15 11:04 | Report Abuse

kikikiki emsvsi talk all n mighty here in forum, like the roti mighty white, but secret pm me asking me for tips kikiki. or maybe after i ignore u, then u post here? kikiki

Posted by emsvsi > 2021-07-15 11:06 | Report Abuse

I pm you..? lol don't talk kok la wannabe smalltimer syndicate come post screenshot la ha ha ha...hard to earn money have to go to forum ah kikiki

Posted by emsvsi > 2021-07-15 11:07 | Report Abuse

Small timer syndicate got washed out at the drop now talk kok post lies ah...kikiki sorrchai

Posted by emsvsi > 2021-07-15 11:10 |

Post removed.Why?

Posted by idkdontaskmelol > 2021-07-15 11:26 | Report Abuse

u want screenshot, this is the screenshot lor: https://imgur.com/xIWZWIM

u sure come out n say edit 1, know ur pattern

Posted by Inv3st0r69 > 2021-07-15 12:07 | Report Abuse

aiyo no need to fight laa. just stick to facts ok.. u katakmampus, u make ur own informed decision and then decide urself..

Posted by shiby > 2021-07-15 12:14 | Report Abuse

yes.just share facts.we can decide how to manage our investment

Posted by hostan > 2021-07-16 15:28 | Report Abuse

Gaduh Gaduh later all keep quiet?

Posted by shiby > 2021-07-21 10:03 | Report Abuse

today Tan Sri fly back to astar to visit his mum.must ask him update

Posted by trending > 2021-07-21 11:58 | Report Abuse

dont just ask for update, ask him to revise offer to 2.50. hahahha

Posted by Maxigain > 2021-07-21 13:29 | Report Abuse

Done deal. SM just bought another 19m shares

Posted by ykyew11 > 2021-07-21 13:43 | Report Abuse

What's up with this SCR, I have never seen SCR's with such big arbitrage and bearish movements and this is basing on past SCR's that failed.

Posted by Inv3st0r69 > 2021-07-21 14:40 | Report Abuse

@ykyew11 the longer towards the egm the more volatile it'll be.. besides that, since we have a party like pnb that can block the deal, so the longer it takes, the more ppl will speculate on it...

but the ultimate plan of the offeror should still remain the same, hence i believe the end results will still be the same.. Without this SCR privatisation, TS will never get to monetise his most valuable asset which is his port.. hence i think just be patience, the delay could possibly be due to working papers that need to be completed by respective advisers...

Posted by brianhangswanton > 2021-07-22 11:55 | Report Abuse

@Maxigain is this allowed? cannot find any news on this

Posted by Inv3st0r69 > 2021-07-22 14:35 | Report Abuse

no, TS cant buy anything less than RM2.. the one transacted yesterday off-market could be institutional shareholders.. i thought more than 19 mil, looks like close to 30 mil.. well if im not mistaken the amount la

Posted by Maxigain > 2021-07-22 16:45 | Report Abuse

It was not off mkt deal..on mkt cross, abt 18.95mil shares at 1.75

Posted by Inv3st0r69 > 2021-07-22 17:37 | Report Abuse

i see.. but if ts buy have to announce la right?

Posted by Chee Chai Sian > 2021-07-22 23:00 | Report Abuse

I guessed unlikely SM will acquired any share...by proxy maybe...the share not owned by STJ and bonus issue already concluded for SCR..any addition will ruined the calculation...

Posted by himbaan > 2021-07-23 12:26 | Report Abuse

SCR offer/deal xtended to 30aug 5pm. someone flexes their muscle to get better deal

Posted by ykyew11 > 2021-07-23 12:27 | Report Abuse

Yikes! Really hope investors are just making irrational decisions here. It dropped from 1.91 to 1.71

Posted by ykyew11 > 2021-07-23 12:36 | Report Abuse

was honestly expecting the price to hover around 1.85-1.90 at this point logically based on past SCR's. This is my first SCR and MMC becomes an exception in a bad way.

Posted by hohseh1013 > 2021-07-23 14:49 | Report Abuse

Mmc si ka liao

Posted by idkdontaskmelol > 2021-07-23 14:51 | Report Abuse

Kikiki

Posted by SincereStock > 2021-07-23 15:13 | Report Abuse

up to this point I think investors overlooked the true value of this company, focusing mainly on the fail / success of privatization, forgotten the fact that the market price of this company can go beyond rm2 in the future without this privatization

Posted by SincereStock > 2021-07-23 15:15 | Report Abuse

if the privatization success = free money at RM2.

if fail, it is not the end / loss until you sell the share

only invest with spare money that you can hold this long term

Posted by SincereStock > 2021-07-23 15:19 | Report Abuse

don't forget that this company's market price is heavily manipulated even before the privatization announcement.

the lower the price goes before the voting, the lower chance shareholders will vote against the privatization, simply mindgame to ensure less people will vote against it

Posted by ykyew11 > 2021-07-23 18:26 | Report Abuse

Syed Mokhtar: I am willing to offer to buy back MMCCORP shares at RM2 per share
MMCCORP shareholders: Aiya nevermind la, RM1.70 also can, I sell you cheaper can also

Posted by ziyang8896 > 2021-07-23 18:38 | Report Abuse

@SincereStock, agreed with you. For those still hold tight,we need more patient and psycho to adapt the share fluctuations in short term

Posted by TheContrarian > 2021-07-23 18:58 | Report Abuse

Syed Mokhtar is NOT buying MMC Corp shares at RM2 per share. He is proposing MMC Corp pays minority shareholders RM2 per share. Syed Mokhtar pays NOTHING.

Posted by ykyew11 > 2021-07-23 19:49 | Report Abuse

Relax la chill, I know what is going on, if anyone doesn't know that they could just go to Bursa announcement and read the SCR offer letter. I'm just making a joke about MMCCORP investors selling themselves short. No need to go into the details and say "Syed Mokhtar pays NOTHING"

If you are still an MMCCORP investor reading this forum, you would have known about the SCR anyways. No need to reply me in caps