@shah800710,. I am not surprised at all if this happens. IJM already own 30% in WCE holding , the listed company. WCE holding own 2 main asset :. 80% WC Expressway and 40% ownership in the 1800 acres Rimbayu development next to kota kammuning. IJM own directly 20% in WCExpressway and 60% in Rimbayu.. Effectively, IJM already own quite substantially , directly and indirectly,. in both assets. After taking full control, IJm will package all its highway asset to fully divest to a trust company or separately list it . This shall create substantially value for shareholders. The Rimbayu project will consolidate under it's property arm and can be further divest as one valuable property company.. conglomerate is breaking up to realize full value
Conglomerates should take the footsteps of MMC and IJM to get fairer value for shareholders. The market is imposing too much discount to conglomerate which is the holding company! The discount is often 40-70% on total valuation of the individual businesses . Unjustifiably low! Just breakup the conglomerates !
@JL999, agreed that businessman will not buy anything overvalued . They will buy if undervalued or at fair value. Just like KLK willing to pay substantially more ( 2 times NA value ) to acquire ijmplant. Question we have to ask ourselves whether the businesses IJM own is undervalued. If it is , the undervalued assets can potentially be monetised to achieve fair value for shareholders.
the choivo report has been read by some of wce major shareholders and they start nibbling more shares from open market. no wonder the stock price so difficult to go down.
Yes , if nobody buy the stock. But nobody can tell when and what will happen next. As such, before you buy the stock you must first of all believe in the prospect of the company's toll road venture and the 40% investment in the 1,800 acres Rimbayu development with IJM lands .
What are the thresholds to extend a mandatory offer in Malaysia? In Malaysia, a bidder together with its Persons Acting in Concert (“PACs”) trigger the obligation to make a mandatory takeover offer to acquire all the shares of the target company if:
they acquire more than 33% of a company; or they hold between 33% and 50% of the voting shares and acquire more than 2 % of the voting shares in any period of 6 months.
Watch out what IJM will do with their 43% ((direct + indirect) interest in WCE highway and the 60% interest in the 1,800 acres Rimbayu development jointly owned with WCE holding Bhd.
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....
shah800710
102 posts
Posted by shah800710 > 2021-06-09 21:03 | Report Abuse
perhaps RM1.5 bilion cash from selling IJMPlant will be use to take WCEHB private