2 main projects at cyblesouth (casa....) & cyblejaya (lakefront homes) with high take up rate >90%. Average review rate from buyer is 4 .5 stars / 5 stars
2018 annual report, company corporate profile update" with market capitalisation of RM1.1 billion as at FPE 2018, today (2020, March) market capitalisation drop 85% to 0.16 billion.
Our successes include Lakefront@Cyberjaya, a high-density residential development in Cyberjaya with a GDV of RM2.1 billion; and Cybersouth, our first township covering 417.0 acres in Dengkil. In February 2018, we became a subsidiary of Ayala Land, Inc (“Ayala”) after a mandatory general offer (MGO) by Ayala’s wholly owned subsidiary Regent Wise Investments Limited (“RWIL”). MCT Berhad was listed on Bursa Malaysia in 2015, and records a market capitalisation of RM1.1 billion as at FPE 2018
MCT Bhd On January 2, 2018, Ayala Land, Inc., (ALI) through its wholly-owned subsidiary, Regent Wise Investments Limited (RWIL), signed a share purchase agreement to acquire an additional 17.24% share in MCT Bhd (MCT), subject to completion of certain conditions. On January 5, 2018, the transfer of shares was completed, increasing the Company’s shareholding in MCT to 50.19% from 32.95%. RWIL also issued a notice of an unconditional mandatory take-over offer to the Board of Directors of MCT, to acquire all remaining shares of the company that are not already held by RWIL, following the completion of certain conditions to the share purchase agreement. 30 The mandatory take-over offer made in connection to the acquisition of additional shares in MCT closed as of 5:00 p.m. (Malaysian time) 19 February 2018. Owners of 295,277,682 shares accepted the offer, equivalent to 22.12% of MCT’s total outstanding shares. As a result of the offer, ALI’s shareholdings in MCT increased from 50.19% to 72.31%. Total consideration paid is P5.98 billion On March 23, 2018, the Irredeemable Convertible Unsecured Loan Stock of Dato Sri Tong and Tan Sri Barry Go, founders of MCT, were converted into 122,218,357 MCT shares. This resulted in a 6.07% dilution of ALI’s stake in MCT as of date of share issuance. As such, the current ownership stake of ALI in MCT is 66.25%. Subsequently, the Group remeasured its previously held interest in MCT based on its acquisition-date fair value which resulted to a remeasurement loss of P1.79 billion. The Group finalized the purchase price allocation of its acquisition of MCT through business combination in December 2018. The final purchase price allocation resulted in gain from bargain purchase of P1.85 billion. The net gain of P60 million from the acquisition is presented under ‘Other income’ account in the consolidated statements of income.
1. Corporate Information Ayala Land, Inc. (the Company) is domiciled and was incorporated on June 30, 1988 in the Republic of the Philippines. The Company’s parent is Ayala Corporation (AC). AC is a publicly-listed company, 47.04%-owned by Mermac, Inc., 6.59%-owned by Mitsubishi Corporation (MC) and the rest by the public. The Company’s registered office and principal place of business is 31st Floor, Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City.
Price drop with trading volume <1% of total shares. Means price sell down by ppl who feel panic & need cash to survive. Ayala land just waiting for the right time to privatize MCT with lowest offer price, eg 0.15 cents.
urusharta manage the shares from Tabung Haji with huge losses. I believe MCT is in the list to clear all but due to poor support from other institution (include Ayala land), then urusharta force to sell at lowest price.
No, Ayala cannot force if you don't want to accept the offer. But if Ayala obtain >90% of share, then can request delist from Bursa. You still the minor shareholder of MCT.
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....
eddy888
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Posted by eddy888 > 2020-03-18 13:51 | Report Abuse
At this critical period, need to be more cautious to invest the company with STRONG fundamental background.