TheContrarian, great gift of news today. No wonder I saw a sudden surge of volume about 751,700 @ 1.66 about 4.40 p.m. I was monitoring my portfolio intensely at my trading dashboard since 4.00 p.m. Merger announcement confirmed by Bursa.
Remember the old times forum members flashed out the Disruptor at MAA with negative comments. Remember how the Disruptor suddenly deleted his account and all traces when exposed?
I think OSK, holding substantial shares in RHB, is a strategic proxy to benefit from the proposed AmBank-RHB merger. Yesterday's close @ 1.66 is attractively appetizing! Waiting to see what drama unfolds today when Bursa opens.
OSK who own 10% of RHB is not suspended. It is the same as the time where CIMB, RHB, and MBSB merger. Let see what would happen on OSK share price. Would it replicate what it happen on 10 July 2014?
EPF plays a pivotal game changing role in this AmBank-RHB M & A as it has dual interests in both corporate entities as well as the leverage of an enormous reservoir of cash assets at its disposal. MONEY SPEAKS, LOUD AND CLEAR.
# If the deal materialises, then the merged entity would end up becoming the country’s fourth-largest bank by asset size.
# RHB is likely to be the acquiring bank, making an offer to the shareholders of AMMB that may involve cash and shares.
# AMMB’s major owner is Australia and New Zealand Banking Group Ltd (ANZ) of Australia with a 23.78% stake, while its second-largest shareholder is founder Tan Sri Azman Hashim, who has an effective stake of 12.97%.
# RHB, meanwhile, is 41%-owned by the Employees Provident Fund (EPF).
# Both banks have a common shareholder in the EPF, with the pension fund also holding a 10.04% stake in AMMB, according to Bloomberg data.
# The other substantial shareholders of RHB are Aabar Investments PJS with a 17.75% stake and OSK Holdings Bhd with 10.13%.
anonboy
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Posted by anonboy > 2017-05-25 22:28 | Report Abuse
OSK 1Q net profit down 22% on weak property, industrial segments http://www.theedgemarkets.com/article/osk-1q-net-profit-down-22-weak-property-industrial-segments