08-Nov-2019 Insider Notice of ceasing to be substantial holder - KULARB KAEW COMPANY LIMITED on 07-Nov-2019. 08-Nov-2019 Insider Notice of ceasing to be substantial holder - CYPRESS HOLDINGS LIMITED on 07-Nov-2019. 08-Nov-2019 Insider Notice of ceasing to be substantial holder - CEDAR HOLDINGS LIMITED on 07-Nov-2019. 08-Nov-2019 Insider Notice of ceasing to be substantial holder - HANTON CAPITAL LIMITED on 07-Nov-2019.
Maybe small changes. surin still there but minorities may have changed within. He probably made the shareholdings clearer. Could be good. Could be bad. Could be nothing
Tan Sri Surin bought from Tan Sri Chan in 2013, 141.4 millions shares @rm1.35 per share. He also subscribed the rights issue in 2014, 3 for 4 @rm1.08 for another 109.5 m shares. Now, he has undertaken to subscribe for his portion of the rights, and jointly with the other 2 major shareholders, IJM and UHF, to subscribe up to 80% of the total rights issue.
What did Tan Sri Surin see in the company? What we know, he surely already knew. But what we don't know, he must had known.
A shrewd businessman like him, would we go wrong if we also take a long term view investing in the company?
He is in deep shit.. he knows very well.. his friends knew too and gotta get out fast before they are in deeper shit...in business, ... Money more important than friendships... Rights issue from RM1.08 down to 0.24.. only can get buyers... Two years later another RI will be 0.15... scary, might be true cos big big volumes of shares thenn... Wakaka..
Not to forget that wcehb still has a valuable asset in its 40% associate, Bandar Rimbayu, which is being developed and managed by the other 60 % shareholders, IJM Corp.
As at 31st March 2019, Bandar Rimbayu still hold 415.88 HA land under development.
Wcehb's cost of the land is only rm5+ per sq ft. against market transacted for a big parcel at about rm33 per sq ft a few year ago. The Surplus in the land value if it is revalued to market value, is about rm500 million.
Bandar Rimbayu is profitable since FY2014. It has contributed accumulatively rm153 Millions share of profit to wcehb for the past 5 Financial Years since FY 2015.
RI results out, oversubscribed excluding undertaking shareholders. It stated clearly in d announcemb, meaning purely shareholders ony had taken up all d RI. Not d undertakers at all
Most sold off their mother shares to subscribe extra rights... On 25/11 scramble to offload will be higher.. hope company will push the price high to collect... Wakaka..
What is wrong with the group is a bunch of not efficient managers.the long delay in completion.cost overrun and now even delay also in starting toll collection on completed stretches.
Now they have no other option to buy cheap. Rights issue price set so low but could not get. If want to buy more to average down, can only buy from the market..
Someone seemed to know the sentiments of the RI which would be fully and overscibed. On the last trading of the PR, it was ramped up to 5 cent from 1.5 cent with a huge volume of 102 millions shares..
I never have an answer why share price is down. Most of the shares I buy, I do not pitch shirt term. WCE is a very good example which I have lose a lot of money. And if it who who lost money, I probably lose as well, I f not more
Surin upatkoon lose more, on paper... UHF also lose, more than Felicity. Even IJM, bought in 2005 @28 cent also lose, after subscribed for the rights in 2014 and 2019...
Haha!
Equity injected todate is rm688 million, another 320 million from this rights and assume full conversion of the 2B rcps, total equity injected would be rm1. 088B... same market Cap for 3B shares, assume full conversion of rcps with option 1. All efforts put in wcesb in the past years are free? Bandar Rimbayu is free?
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....
Bennychua007
200 posts
Posted by Bennychua007 > 2019-11-08 22:05 | Report Abuse
So sad.drop 5 precent ..But luckily support at 0.370