many off market deals BETWEEN July 10 and 16, the most notable off-market trade was the change of ownership at Seremban-based Tiger Synergy Bhd, which saw 150 million shares, or 11.8% equity interest, traded in a single direct deal on July 12. The shares were transacted at two sen apiece, or RM3 million in total. A July 16 filing with Bursa Malaysia shows Safari Alliance Sdn Bhd emerged as a substantial shareholder of Tiger Synergy with an 11.8% stake, after acquiring 150 million shares. The seller is likely to be Goh Ching Mun, a major shareholder from Ipoh, Perak, who disposed of 150 million shares through a direct transaction on July 12. Goh still owns a 13.43% stake, or 170.48 million shares, in the company. Tiger Synergy’s share price plunged by half year to date to close at 4.5 sen last Wednesday, giving the company a market capitalisation of RM57.1 million. Over at SMTrack Bhd — previously known as Smartag Solutions Bhd — the radio frequency identification (RFID) solution provider saw 11.25 million shares, or a 7.56% stake, crossed off market in 25 block trades during the period under review. The shares were traded at 23 sen to 24 sen apiece, or RM2.6 million in total. Neither the identity of the seller nor the buyer was disclosed as the company has not made any announcement on changes in shareholdings since July last year. SMTrack’s share price dropped to a record low of 5.5 sen in February, but has more than doubled since the start of the year. The counter closed at a 52-week high of 24 sen last Wednesday, valuing the company at RM35.7 million. In April, SMTrack announced that it had inked a memorandum of understanding with Dexma Express Sdn Bhd to explore investment opportunities for the upcoming operation of Indonesian carriage firm Citilink — a unit of Garuda Indonesia — in Malaysia. London Biscuits Bhd saw 15.23 million shares, or 5.24% equity interest, crossed off market in 34 block trades during the period under review. The shares were transacted at 16 sen to 25.5 sen apiece, or RM3.51 million in total. At press time, the identities of the buyer and seller were not known. However, a filing with Bursa shows that on July 9, Meileelanusa Sdn Bhd offloaded 1.79 million shares, or a 0.6% stake. Meileelanusa is the private vehicle of the Liew family, which controls London Biscuits. The confectionery manufacturer is a Practice Note 17 company, following its debt payment of RM9.83 million to Bank of Nova Scotia Bhd on July 3. Meanwhile, London Biscuits’ 20%-owned associate Khee San Bhd saw 1.74 million shares, or a 1.52% stake, change hands in four block trades between July 10 and 12. Media Prima Bhd, which has a presence across newspapers, TV and radio, saw 56.2 million shares, or a 5.07% stake, traded off market on July 10 and 11. It is worth noting that 55 million shares were transacted on July 11 via direct transaction at 60 sen apiece, at a 26.32% premium to its last traded price. Aurora Mulia Sdn Bhd mopped up 55 million shares that day, taking its holding to 16.05%, or 178 million shares. Aurora Mulia’s board members include Syed Danial Syed Mokhtar Shah — the son of tycoon Tan Sri Syed Mokhtar Albukhary. The company previously emerged as the party that acquired 123.02 million shares, or an 11.09% stake, in Media Prima from Umno’s Gabungan Kesturi Sdn Bhd.
VT is a very kind and generous person, full of mercy .... he knows some "value investors" proudly say they still has cash to invest, he presses the price even lower, so that, giving them a greater opportunity for greater value buy .......
As I said no need to buy so early. Why ? Because as I know the bjgroup boss is a never end eating one. Like the lion king movie the lion said the stomach of the ??? Is never full one. The boss properly will push down more. Because more cheap good for him to take over. Just we dun know how cheap he want 10sen ? I also dont know.
:) The number of treasury shares held in hand as at 30 April 2019 were as follows :
Average
price per
share Number Amount
RM of shares RM'000
Total treasury shares at 1 May 2018 and at 30 April 2019 1.89 10,943,104 20,699
As at 30 April 2019, the number of ordinary shares in issue with voting rights was 4,989,394,000
ordinary shares (30 April 2018 : 4,989,394,000 ordinary shares)
1) Due to "who knows what" reason, a few investors holding big chunk of BJLand decide to sell their stake (possibly at a loss given the downtrend over the years.) Knowing the market can't absorb so much shares, they have approached Penta who's closed to VT.
2) Given that VT, through BJCorp and others, have accumulated close to 80%, he can't or is not allowed to take up all. Thus, by taking up just the right amount of shares with total holding less than 85%, VT managed to get Bursa and SC approval to hold just slightly less than 85% while leaving the rest to Penta to dispose the rest.
3) With no institutional or big investor, Penta is selling in the market at huge discount that's compensated by premium it collected when exchanging part of BJLand shares at premium to BJCorp shares.
4) During Penta's disposal, certain "value investors" were actually collecting along the way, but insufficient to take up all Penta's stake. Exacerbated by the fact that BJLand no longer marginable due to low liquidity after close to 85% held by VT, certain retail investors were forced to sell, and possibly certain institutional investors were also forced to sell due to investment requirements.
5) VT is "forced" not to buy any more BJLand cause his hands are tight already.
Its not difficult for SC and BURSA to check my hypothesis. Just look into if Penta is still holding on the rest, if those retail investors on margin account are selling because of margin concern, and if institutional shareholders are selling because liquidity concern (just confirm the whos on the selling list, say more than 50%, and why they are selling.)
Basically, there could be many reasons as to why the start of Penta's acquisition. The BIGGEST issue is WHY Bursa and SC NOT requiring a MGO be extended to the rest of minorities! This is why all the while I have kept saying Bursa and SC HAVE FAILED US minorities!!!
All begin with Kyoto disposal, VT thought can dispose Kyoto Hotel then announce dividend, from there he can get cash to privatise Bjland lu.. Mana tau Kyoto Hotel tak jadi ( dunno wat reason la, maybe VT too greedy wanna sell at sky price). So first step tak jadi, the rest also wouldn't happen lo. Please take note Penta share was paid by Bjcorp's share , not really from VT's pocket. Anyway too early to panic la, the worst might not over yet.
Sometime we need to know our roles la, retail can always be retail, ikan bilis can only follow shark cari makan. Don't ever think you collecting or sapu few hundred k can affect the trend la.
Obviously, syndicates are playing ikan bilis as ikan bilis cannot hold long mostly traders or even kena margin call to sell. They will collect cheap-cheap while make it dropping. At the end, when announce take-over, they will jack up the price. If you can hold long long term, don't worry. I think few can hold long term say 1 year.
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Posted by Paulnga > 2019-08-01 13:07 | Report Abuse
VT soon Kena margin call.