Vinvin...the co. Is looking some cash to fund their project.. Its look like they are in the midst on project negotiation.. FYI..this company project mostly from the govt. sector..hehe
what news ????? nothing in the paper ...anybody have insight the only thing they have in the card now is 1) Time Enginering Share(IF jadi>>>.KAstam Software upgrade with GST systeme / maintenance IT Contract expiring soon ) 2 ? Upgrade of all the software they have implemented for Government & BAnks
Tomorrow hopefully another RM 010. They buy Time at RM0.20 current time is RM 0.29
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Published: Thursday September 12, 2013 MYT 5:27:00 PM Updated: Thursday September 12, 2013 MYT 5:47:19 PM
Khazanah Nasional sells 45.03% of Time Engineering to KUALA LUMPUR: Khazanah Nasional Bhd has divested its entire equity interest of 45.03% in TIME Engineering Berhad to Censof Holdings Bhd at 20 sen per share for RM69.8mil cash.
Khazanah said the decision was made following an extensive tender process to select a suitable new shareholder.
The divestment price was determined based on the fundamentals of TIME, reflecting the remaining concession period with the Royal Malaysian Customs Department up to September 2014 by TIME’s majority-owned subsidiary, Dagang Net Technologies Sdn Bhd (DNT), and two other subsidiaries which are operating at a loss.
It said the divestment involved a three-stage tender process through which a group of bidders were selected at each stage based on a set of evaluation criteria – price and business plan for TIME, financial track record, and experience in information and communication technology.
“Censof was selected out of the 10 interested parties based on the merit of its overall bid and a defined strategy in line with our divestment objectives for TEB, following a transparent and stringent tender process presided by an independent evaluation panel,” said Khazanah’s MD Tan Sri Azman Mokhtar.
“We believe that Censof brings with it the strong entrepreneurship and business acumen, as well as management capabilities, leadership, and the technical and financial capabilities that can take TIME to the next level of performance,” he added.
TIME’s main business is providing solutions for e-commerce, cyber security and integrated intelligent infrastructure. It ended the first half of its 2013 financial year with an earnings (before interests, tax, depreciation and amortisation) of RM14mil and pre-tax profit of RM7.08mil, while net assets stood at 11 sen per share.
The divestment is pursuant to the initiative announced by Prime Minister Datuk Sri Mohd Najib Tun Razak on Feb 9, 2012, that Khazanah and Permodalan Nasional Bhd would divest a total of 10 non-core assets to Bumiputera companies.
TIME is one of the five non-core assets identified by Khazanah for divestment under the TERAJU initiative and is the fourth company to be divested under this initiative. The divestment of STLR Sdn Bhd was successfully completed earlier this year.
Between 2004 and 2012, Khazanah divested a total of 55 assets and companies valued at RM35.7bil, with some of the assets being Proton Holdings Berhad, Pos Malaysia Berhad and Time dotcom Berhad. The divestment of TIME is the 57th divestment made by Khazanah since the start of its transformation programme in May 2004. In total, the divestments have generated gains of RM16.3bil.
this is interesting issue as Censof is buying TEB at a forward PE of 10x, much cheaper then their own valuation. Dagang net, the star subsidiary of TEB with concession over Royal Custom of Malaysia may gain further with the implementation of GST.
you are right they have summited the bidding process Tender for custom extension First they drop the price to let somebody to collect ...than it goes up now it going down back for the same person to collect. Probably sold to us at .48 now let it drop create panic selling while they busy collect .....stop panicking people halt the transaction increase selling price all seller please
Censof finally bagged the 45.03% stake in Time Engineering (“TEB”) held by Khazanah. Censof has entered into a conditional share sale and purchase agreement with Khazanah to acquire the latter’s 45.03% stake in TEB for a cash consideration of RM69.82m (or RM0.20/TEB share), subject to the approvals from Bursa Malaysia and Securities Commission Malaysia. Upon completion of the proposed acquisition, Censof will emerge as the new controlling shareholder in TEB and thus will be obliged to extend a conditional MGO (with the conditional acceptance of >50% of the total voting shares of TEB) to other TEB shareholders for a cash offer price of RM0.20/share.
Market will be weak today. Long weekend, uncertainties on Syrian crisis remains and Fed Reserve meeting next week. If tit drops further, might be buying opportunities.
oh I see , may be I m not as sensitive n knowledgeable as the others . I m holding to my principles that when market crumbles is the best time to source good shares but yo yo market rt now is good for short kill whenever possible . Not advisable to hold any shares for long term...latest US market gain come to a stop , so what happens?
Lim AS is right. Your principles are most practical and it works. I used to trade on fundamentals and technical analysis but the least complicated way is the best. Don't buy on news and take analysts' comments with a pinch of salt only. If they are such good predictor, they won't be commenting but making tons of money.
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....
kerengga
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Posted by kerengga > 2013-09-06 07:15 | Report Abuse
Vinvin...the co. Is looking some cash to fund their project.. Its look like they are in the midst on project negotiation.. FYI..this company project mostly from the govt. sector..hehe