guys, I heard from friends saying Hong leong capital has been under public shareholding less than 20% for long time and yet no action had been taken so far. after some Google, I find out unisem also the same.
does it imply that bursa dont really have strict rules in regulating this ?
20% is very few, 15% already an exception and 10% is impossible as:
There is no way SC will allow a lower public spread of 10% or lower as according to SC Main Practice Notes, this will triggers:
5.0 Suspension where the public shareholding or unit holding spread is 10% or less and related disclosure requirements 5.1 Pursuant to paragraph 16.02(2) of the Listing Requirements, where the public shareholding or unit holding spread of a listed issuer is 10% or less of the total number of listed shares (excluding treasury shares) or listed units ("Threshold"), a suspension will be imposed by the Exchange.
Everyone needs to cooperate to pre-emp any hanky-panky from happening and prevent SC/Bursa from giving anymore extensions to BJCorp/BJLand by alerting all biz newspapers like the:
On 30 August 2009, D Bhd's public shareholding spread is 9% of its total listed shares (excluding treasury shares). What is D Bhd's additional obligation in regard to its public shareholding spread of 9%?
In addition to the disclosure obligations under Question (a) above, D Bhd must immediately announce to Bursa Securities the information set out in paragraph 5.4 of Practice Note 19.
(c)
When will the trading of securities of D Bhd be suspended after its announcement in Question (b) above?
Pursuant to paragraph 16.06(2)(a) of the Main LR, Bursa Securities shall suspend trading of securities of D Bhd upon expiry of 30 market days from the date of D Bhd's announcement. However, if the public shareholding spread of D Bhd increases to above 10% before the expected date of suspension, D Bhd should immediately inform Bursa Securities of its improvement in its public spread and seek its confirmation on whether the suspension will still be imposed.
In addition, where appropriate, Bursa Securities may also take such enforcement action as it deems fit against D Bhd pursuant to paragraph 16.19 of the Main LR.
So cap at 10% minimum also possible. Better work together to lodge complaints to all related parties. Retail investors, let's united to block the approval of lower shareholding spread of 10%.
5.0 Suspension where the public shareholding or unit holding spread is 10% or less and related disclosure requirements 5.1 Pursuant to paragraph 16.02(2) of the Listing Requirements, where the public shareholding or unit holding spread of a listed issuer is 10% or less of the total number of listed shares (excluding treasury shares) or listed units ("Threshold"), a suspension will be imposed by the Exchange. 5.2 The suspension in trading imposed by the Exchange under paragraph 5.1 above will only be uplifted upon full compliance with the Required Public Spread or as may be determined by the Exchange.
Beware of some syndicates, if volume low, price up tremendously, enter buy some if you dare... But volume tremendously high, but price stagnant, be careful trapped you until no tomorrow.
Penta used to own 166 million or 3.3% of BJLand shares as of March 2019..If Penta is the nett seller since March until August at the rate of 10 million shares each Bursa day. If there are 100 Bursa days during this periiod, don't think Penta has much shares left if it is short of cash?
Good suggestion by shortinvestor n bettyem, u lead i wil be the supporter n follow ,worse to worse we political the case and spread over to the whole world , i m ph supporter too but this thing cannot compromise, if old fox want to play trick again,v make it big.i hope all minor investor come out to support,all money v invest is our hard earn money with blood n sweat.
shortinvestor77 your meaning syndicates can still sell 4-5%?
shortinvestor77 So cap at 10% minimum also possible. Better work together to lodge complaints to all related parties. Retail investors, let's united to block the approval of lower shareholding spread of 10%.
5.0 Suspension where the public shareholding or unit holding spread is 10% or less and related disclosure requirements 5.1 Pursuant to paragraph 16.02(2) of the Listing Requirements, where the public shareholding or unit holding spread of a listed issuer is 10% or less of the total number of listed shares (excluding treasury shares) or listed units ("Threshold"), a suspension will be imposed by the Exchange. 5.2 The suspension in trading imposed by the Exchange under paragraph 5.1 above will only be uplifted upon full compliance with the Required Public Spread or as may be determined by the Exchange. 04/08/2019 12:06 PM
Ai yo, think again.... so many other good counters for syndicate to trade recently, KNM, Gpacket, MYEG, DSONIC, but no one in BJLAND, what for??? A counter that was keep coming down!!! ONly the retailers were buying after threw down by Macquarie at around 20.0 sen, thinking of making quick money by contra, but not easy in T2 environment, from then on, no big buyer was seen, kind of supply more than demand situation for more than a month until VT saw the RIGHT timing on Friday and trigger the threshold of 15%!!! And very likely, friends of VT have collected enough too.
What u mean is even vt pay minority less than the penta deal u can accept. To me penta deal already not fair enough as compare to the actual value of bjland.
Lim Ha, I believe the many persons who have bought the shares recently below 0.170 would not hesitate to sell to VT for a quick profit. We most likely wont have a say at that time.
Just wondering at the same time, after selling down BJLand why the Syndicate placed a 39.5 mil buy order @25.5 sens for BJCorp? Has been there for a few weeks already but so far not many willing sellers, many still wants VT's stock?
do you think write In will work ? when I look at kretam, they also fall into public shareholding shortfall, but they quickly sell back to the market in short time. this can happen in bjland too
BJland....please give all shareholders a free 3 days 2 night free hotel stay voucher according to their shares holding volume....I think this will burst the share price and resolve share spread issue immediately, let the minority taste bit also and I think they will love so much from this point onwards.......hehehe........
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....
bensonlam33222
96 posts
Posted by bensonlam33222 > 2019-08-04 00:30 | Report Abuse
if VT is serious about privatization ,he would do it a long time ago.he obviously wants SC to set a new minimum public spread for him.