Posted by thundery > 2 months ago | Report Abuse

SMI got some valuable assets, this is why peoples want to rob it in public

Posted by crackyoo > 2 months ago | Report Abuse

nobody buying

Posted by joyvest > 2 months ago | Report Abuse

Whenever and wherever there is board tussle,the Mafia would love to penetrate into with an
agenda to rip off the company apart..

Posted by philosopher23 > 2 months ago | Report Abuse

big pile of rubbish here

Posted by khalifahLGE > 2 months ago | Report Abuse

situasi macam ni la jatuhkan bisnes zaitun..be careful owner smi..penat2 develop bisnes bagi elok tiba2 si bangsat mafia datang kacau bisnes orang

Posted by Fandrianp > 2 months ago | Report Abuse

low volume but up 7% hahaha

Posted by rac3ginho > 1 month ago | Report Abuse

South Malaysia Industries gets takeover offer at 45 sen per share

Posted by limit_up > 1 month ago | Report Abuse

https://theedgemalaysia.com/node/723492

Posted by limit_up > 1 month ago | Report Abuse

Good news... Up soon.

Posted by crackyoo > 1 month ago | Report Abuse

hahaha smelly counter

Posted by wiminvestor > 1 month ago | Report Abuse

Hahaha sweep all? where is the broom?

Posted by Taibfar > 1 month ago | Report Abuse

Old owners should give up their shares... they are hoarding assets without bringing any value to shareholders

Posted by limit_up > 1 month ago | Report Abuse

Let the young wave push the old wave

Posted by limit_up > 1 month ago | Report Abuse

SMI’s Share Price Climbs Despite Offer—Investors See Bigger Potential

Posted by limit_up > 1 month ago | Report Abuse

In an interesting twist, SMI’s stock price went up today, even after Techbase Industries Berhad and its partners announced a General Offer (GO) at RM0.450 per share.

Normally, you’d expect the stock to settle around the offer price, but that’s not what happened here. Instead, investors seem pretty excited about the new major shareholders stepping in.

So, why the enthusiasm? Well, it looks like investors believe SMI is worth a lot more than what’s being offered.

Posted by limit_up > 1 month ago | Report Abuse

And they might be right—SMI’s current Net Tangible Assets (NTA) are sitting at RM0.610 per share.

Posted by Lightworkss > 1 month ago | Report Abuse

better give up lah, techbase are rich to take over while old owners doesnt create value for shareholders....

Posted by cashflowman > 1 month ago | Report Abuse

The mafia gang will seek to suck the company dry instead of create value just like YB and techbase. Be careful.

Posted by zuhutuho > 1 month ago | Report Abuse

Old management need to let it go... alrdy didn't do much for so many years, let the new blood come in

Posted by KropSkin787 > 1 month ago | Report Abuse

loss making for 3 years in a row, shareholders deserve betters... The old owners have had their time, now it's time for fresh leadership to unlock SMI's true potential

Posted by AmySee > 1 month ago | Report Abuse

The new owner, Techbase, has the money to buy it out, which is better for the new shareholders. hehe

Posted by chobozong > 1 month ago | Report Abuse

well said kropskin, let techbase who has the resources to revitalize SMI

Posted by Ghazaar > 1 month ago | Report Abuse

If there is another net loss in the fourth quarter, the old management ought to relinquish their shares

Posted by KarmaS > 1 month ago | Report Abuse

hahaha confirm another red quarter, most investor alrdy loss hope lah ! just give up!

Posted by Taibfar > 1 month ago | Report Abuse

PN 17 in making. The company should do some restructuring ..

Posted by Kkristal > 1 month ago | Report Abuse

useless company & management hahaha, getting close to 0.40 now while takeover offer is 0.45

Posted by AmySee > 4 weeks ago | Report Abuse

Wow, SMI managed to turn a profit in the fourth quarter

Posted by zuhutuho > 4 weeks ago | Report Abuse

good quarter thats why got takeover lor

Posted by keanurune > 3 weeks ago | Report Abuse

Fast fast take over, so much hassle

Posted by ChunWong93 > 3 weeks ago | Report Abuse

SMI has turned things around. It seems that Techbase's takeover is a good start

Posted by Lightworkss > 3 weeks ago | Report Abuse

SMI management just give up lah, one good quarter cant change the fact...

Posted by KarmaS > 3 weeks ago | Report Abuse

actually decent result, no wonder techbase want to take over la

Posted by Yusof896 > 3 weeks ago | Report Abuse

Ini adalahlah satu permulaan yg baik utk syarikat ni. Tengok macam mana ia akan berkembang seterusnya

Posted by AmySee > 3 weeks ago | Report Abuse

Better let Techbase take over completely and lead this company to a better future 🙂

Posted by mrkhoi306 > 3 weeks ago | Report Abuse

overall the situation doesn't look good for SMI.... suddenly pattern a lot.... current SMI management is fishy af

Posted by cashflowman > 3 weeks ago | Report Abuse

Amysee, be careful what you wish for. Its like from the frying pan into the fire.

Posted by TopKey > 3 weeks ago | Report Abuse

Gaduh sudah start, I bet techbase gonna win! SMI management no power at all

Posted by Taibfar > 3 weeks ago | Report Abuse

The involvement of new major shareholders is necessary

Posted by chillib3an > 3 weeks ago | Report Abuse

No update yet? Takeover done??

Posted by AmySee > 3 weeks ago | Report Abuse

It's still under negotiation, I think ..

Posted by keanurune > 3 weeks ago | Report Abuse

not yet, but very likely since old management all talk but no action

Posted by Kkristal > 2 weeks ago | Report Abuse

old management are useless, seal the deal & let techbase take over

Posted by Welsonnotwell > 2 weeks ago | Report Abuse

Big chance for takeover SMI. Francis Leong and two subsidiaries of Techbase Industries Bhd—are offering 45 sen per share to acquire the remaining shares they do not already own, according to its filing with Bursa Malaysia Securities. They now control more than half of the issued shares in SMI.

Posted by yifeng > 2 weeks ago | Report Abuse

Pack it up SMI... fast fast complete the takeover deal

Posted by KropSkin787 > 2 weeks ago | Report Abuse

An Open Letter to Bursa Malaysia, SC, MSWG, SSM on Transparency Issue of South Malaysia Industries Berhad (SMI)

https://klse.i3investor.com/web/blog/detail/RCKT1/2024-09-10-story-h468377297-An_Open_Letter_to_Bursa_Malaysia_SC_MSWG_SSM_on_Transparency_Issue_of_So

Posted by Taibfar > 2 weeks ago | Report Abuse

Bursa Malaysia certainly needs to explain the mandatory general offer (MGO) announced by SMI a month ago, otherwise similar situations will happen to other companies in the future ...

Posted by chobozong > 2 weeks ago | Report Abuse

Where's the update from SMI? Typical old management with lack of communication...

Posted by zuhutuho > 2 weeks ago | Report Abuse

what u expect, incompetent management mah. no surprise kena take-over

Posted by Taibfar > 1 week ago | Report Abuse

As retail investors, we find ourselves in a state of confusion regarding the ongoing Mandatory General Offer (MGO) of South Malaysia Industries Berhad (SMI). The recent flurry of announcements and legal disputes surrounding the MGO has left us questioning whether this offer is still proceeding and why the communication from SMI’s management and Board of Directors appears to be unclear and contradictory.

A Confusing Situation for Investors?

On 20 August 2024, the Unconditional Mandatory Takeover Offer was issued by Target 1 Sdn Bhd (T1) through TA Securities Holdings Berhad, offering to acquire all the remaining ordinary shares of SMI at RM0.45 per share. For many of us, this initially presented a clear opportunity to evaluate our position in SMI and decide whether to tender our shares. However, things became much more complicated soon after.

In late August, it was announced that Mr. Mah Sau Cheong, a minority shareholder, had filed an interim injunction to halt the MGO process, seeking clarity and protection for shareholders while the court deliberates on the offer. The situation was further complicated when, on 5 September 2024, the court dismissed the ad interim injunction. Despite this, SMI’s Board of Directors agreed to “prayer (b)” of the Plaintiff’s application, which restrains the company from taking further steps under the MGO until the matter is resolved.

Adding to the confusion, on 13 September 2024, SMI made an announcement stating that, despite the dismissal of the injunction, they would not proceed with the MGO until further court directions are provided following the next hearing, scheduled for 27 October 2024.

Is the MGO Still Ongoing?

From a retail investor’s perspective, this conflicting information is deeply concerning. On the one hand, we were told that the MGO was moving forward after the dismissal of the ad interim injunction. Yet, on the other hand, SMI has agreed to halt the process until further court orders are issued. This mixed messaging has left investors wondering: Is the MGO still on, or has it been effectively paused?

Furthermore, the legal back-and-forth raises a critical question: Why is the management and Board of Directors of SMI, who are responsible for ensuring transparency and protecting shareholder interests, seemingly contributing to the confusion? Instead of providing clear guidance on the MGO’s status, they appear to be adding layers of complexity, making it difficult for retail investors to make informed decisions about our holdings.

A Call for Clarity

As minority shareholders, we expect transparency and timely communication from SMI’s management, especially when it comes to such a significant event as a Mandatory General Offer. Unfortunately, this has not been the case, and we find ourselves in a state of uncertainty. We are left in limbo, unsure whether to act on the RM0.45 offer or wait for the court’s decision at the end of October.

We urge the Board of Directors and management of SMI to clarify the situation. Is the MGO still ongoing? If so, what should we, as shareholders, expect? If not, why has there been such a lack of clear communication to date? We seek answers, not further complications.

With legal actions pending and conflicting announcements being made, it is imperative for Bursa Malaysia, the Securities Commission Malaysia (SC), and the Minority Shareholders Watch Group (MSWG) to step in and ensure that SMI acts in the best interests of all shareholders. The current uncertainty and lack of transparency are unacceptable, and retail investors like ourselves deserve better.

We hope that the upcoming court hearing on 27 October 2024 will provide much-needed clarity. Until then, we continue to monitor the situation closely, but our confidence in the company’s leadership is waning.

https://klse.i3investor.com/web/blog/detail/LETTER/2024-09-18-story-h469212536-A_Concerned_Investor_s_Perspective_Uncertainty_Surrounding_SMI_s_Mandato

Posted by stncws > 6 days ago | Report Abuse

be patient, be happy