Posted by wunyoong22 > 2020-05-13 06:38 | Report Abuse

If don't want want the accept the offer, what will happen to our share?

Posted by Hafid > 2020-05-13 06:50 | Report Abuse

The owner is not share holder friendly. He just want to launch the offer price and get existing shareholder to sell at 2.06. if we did not sell than we may end up with the delisting share. But eventually if we did not accept will go back to 2.33 but will need to wait another one year.

Posted by Hafid > 2020-05-13 06:51 | Report Abuse

With the uncertainty, actually we hold the share give you better safety margin

Posted by Hafid > 2020-05-13 06:52 | Report Abuse

There just want to test how many shareholder accept.

Posted by stockraider > 2020-05-13 13:45 | Report Abuse

If no Rm 2.50 ask them to fuck off loh...!!

Posted by lehubeng > 2020-05-13 21:44 | Report Abuse

the news stated that major shareholders already acquire 89.94% of the shares, is this true that once they acquire more than 90% of the shares, they can privatise and delist yeelee from bursa, without approval from the minority shareholders?

what will happen to the shares hold by the minority shareholders in the delisted company?

Posted by stockraider > 2020-05-13 22:14 | Report Abuse

Listen there are 2 separate matter u should know loh...!!

1. If they acquire 90% they can delist Yeelee but they can never compulsory acquire your share loh.....!!

2. They can fully privatise your share provided they can acquire 90% of the balance 10% of the share non own by them mah....!! In other words they need to own 99% to complsory acquire the remaining 1% share loh....!!

Remember u have fought them well previously when they offer u rm 2.33 u did not accept.
And now they offer u Rm 2.06 u should ask them to fuck off mah....!!

They own close to 90% why do they still want to acquire your share leh ??
This is bcos they need to completely privatise in order to have a free hand in extracting exceptional value in YEE LEE mah....!!

So as a shareholder u should not afraid even if they delist, bcos they is exceptional huge value in yeelee ready to be unearthed and u r still a shareholder of yeelee mah...!!

Thus Raider advice u to hang tight, unless they offer at least Rm 2.50 per share for a win win solution loh.....!!

Posted by Jeffreyteck > 2020-05-14 08:21 | Report Abuse

No idea why it is so difficult to privatise this co? Daiman underpaid minority SHs substantially yet progress so smoothly. Confused on requirements.

Posted by yhwong > 2020-05-14 10:09 | Report Abuse

ya since we already fought and won the first war, why should we give up now. F*ck off the greedy blood s*cker

Posted by yhwong > 2020-05-14 12:08 | Report Abuse

i don't see how consume goods get impacted by the COVID 19. People stay at home cooking, must buy edible oil. Healthcare staffs working hard, may drink even more red bull.

Posted by Hafid > 2020-05-14 12:18 | Report Abuse

as long as there no compulsory acqusition there could not delist the company and you still have your rights.

Posted by wunyoong22 > 2020-05-15 10:30 | Report Abuse

We stay together to fight back again. Don't sell to them

Posted by yhwong > 2020-05-15 12:40 | Report Abuse

seems they already get 90.8% now. that means they could now compulsory buy from us at 2.06 ?

Posted by Hafid > 2020-05-16 08:47 | Report Abuse

This is what there say in the newspaper. Need to check if there is bursa announcement. If no than is just another way to ask shareholder to sell to them

Posted by Hafid > 2020-05-16 08:51 | Report Abuse

We refer to the previous announcements dated 13 June 2019, 11 July 2019, 28 August 2019, 28 November 2019, 24 December 2019 and 27 February 2020 in relation to the non-compliance with public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements.



The terms used herein, unless the context otherwise stated, shall bear the same meaning as those defined in the earlier announcements in relation to the above matter.



On 12 May 2020, UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") had, on behalf of Yee Lee Organization Bhd, Dato' Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn Bhd (collectively the "Joint Offerors"), served a notice of offer on our Board of Directors ("Board"), informing the Joint Offerors' intention to undertake an unconditional voluntary take-over offer to acquire all the remaining ordinary shares in Yee Lee ("Yee Lee Shares") not already held by the Joint Offerors for a cash offer price of RM2.06 per Yee Lee Share ("Offer"). The Offer will remain open for acceptance from the date of the posting of the offer document for a period of not less than 21 days or such later date(s) as UOBKH may announce, on behalf of the Joint Offerors.



As stated in the notice of the Offer ("Notice"), the Joint Offerors do not intend to maintain the listing status of Yee Lee.



Subsequent to the serving of the Notice on the Board on 12 May 2020, one of the Joint Offerors, namely Langit Makmur Sdn Bhd, had acquired 274,900 Yee Lee Shares from the open market, which resulted in the Joint Offerors collectively holding, together with such Yee Lee Shares that were already held by the Joint Offerors, approximately 90.08% of the total voting shares of Yee Lee as at 13 May 2020. Accordingly, Yee Lee's public shareholding spread had reduced to approximately 9.92% on even date and in this regard, Yee Lee continues to be in non-compliance with the public shareholding spread requirements.



In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.



Premised on the above, the Joint Offerors will not take any steps to address the shortfall in the public shareholding spread of Yee Lee.



This announcement is dated 14 May 2020.

Posted by stockraider > 2020-05-16 12:55 | Report Abuse

Listen there are 2 separate matter u should know loh...!!

1. If they acquire 90% they can delist Yeelee but they can never compulsory acquire your share loh.....!!

2. They can fully privatise your share provided they can acquire 90% of the balance 10% of the share non own by them mah....!! In other words they need to own 99% to complsory acquire the remaining 1% share loh....!!

Remember u have fought them well previously when they offer u rm 2.33 u did not accept.
And now they offer u Rm 2.06 u should ask them to fuck off mah....!!

They own close to 90% why do they still want to acquire your share leh ??
This is bcos they need to completely privatise in order to have a free hand in extracting exceptional value in YEE LEE mah....!!

So as a shareholder u should not afraid even if they delist, bcos they is exceptional huge value in yeelee ready to be unearthed and u r still a shareholder of yeelee mah...!!

Thus Raider advice u to hang tight, unless they offer at least Rm 2.50 per share for a win win solution loh.....!!

U MUST BE PREPARE TO HOLD TIGHT MO MATTER WHAT MAH...!!

SURELY THEY HAVE GONE SO FAR...NATURALLY THEY WOULD WANT U TO BE A CONTINUE SHAREHOLDER OF THE COMPANY MAH...!!

THUS THEY MUST PREPARE TO PAY MORE LOH..!!

Posted by Hafid > May 16, 2020 8:51 AM | Report Abuse

We refer to the previous announcements dated 13 June 2019, 11 July 2019, 28 August 2019, 28 November 2019, 24 December 2019 and 27 February 2020 in relation to the non-compliance with public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements.

The terms used herein, unless the context otherwise stated, shall bear the same meaning as those defined in the earlier announcements in relation to the above matter.

On 12 May 2020, UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") had, on behalf of Yee Lee Organization Bhd, Dato' Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn Bhd (collectively the "Joint Offerors"), served a notice of offer on our Board of Directors ("Board"), informing the Joint Offerors' intention to undertake an unconditional voluntary take-over offer to acquire all the remaining ordinary shares in Yee Lee ("Yee Lee Shares") not already held by the Joint Offerors for a cash offer price of RM2.06 per Yee Lee Share ("Offer"). The Offer will remain open for acceptance from the date of the posting of the offer document for a period of not less than 21 days or such later date(s) as UOBKH may announce, on behalf of the Joint Offerors.

As stated in the notice of the Offer ("Notice"), the Joint Offerors do not intend to maintain the listing status of Yee Lee.

Subsequent to the serving of the Notice on the Board on 12 May 2020, one of the Joint Offerors, namely Langit Makmur Sdn Bhd, had acquired 274,900 Yee Lee Shares from the open market, which resulted in the Joint Offerors collectively holding, together with such Yee Lee Shares that were already held by the Joint Offerors, approximately 90.08% of the total voting shares of Yee Lee as at 13 May 2020. Accordingly, Yee Lee's public shareholding spread had reduced to approximately 9.92% on even date and in this regard, Yee Lee continues to be in non-compliance with the public shareholding spread requirements.


In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.

Premised on the above, the Joint Offerors will not take any steps to address the shortfall in the public shareholding spread of Yee Lee.

This announcement is dated 14 May 2020.

Posted by wunyoong22 > 2020-05-16 13:09 | Report Abuse

I won't sell to them.

Posted by riskabsorber > 2020-05-27 17:44 | Report Abuse

They won't success with 99% because the mutual fund are holding tight. If the mutual fund want to accept the offer, they already accept last round when 2.33 given to them. However, now I don't see they will sell at this lelong price. I will hold until the last day of the offer and let the offerors die on heart attack due to the balance of 1% don't sell to them.

Posted by wunyoong22 > 2020-05-27 19:54 | Report Abuse

RM 2.70 , I will sell to them

Posted by riskabsorber > 2020-05-29 15:21 | Report Abuse

SC should not approve their extention of offer because they have reach 90% and they keep given the same excuse for public shareholding spread (intentionally cheating).

Posted by Jeffreyteck > 2020-06-04 07:29 | Report Abuse

There is a lack of minority protection as authority concerns more on its bottom line. Daiman NTA is around 6 but paid very little for minority. Hold on may lose opportunities for other potential counters unless have insider news where they will pay higer. Anyway, just a bigger casino in the country. Good luck.

Posted by Hafid > 2020-06-12 14:37 | Report Abuse

KUALA LUMPUR: The takeover offer for Yee Lee Corp Bhd, which trades in edible oil, at RM2.06 a share is “not fair” but “reasonable”, according to the board and independent adviser to the minority shareholders.

In its independent advice circular issued on Friday, the board, including the non-interested directors, said the offer was not fair, as the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee shares of between RM3.49 and RM3.60.

However, the board said the offer was reasonable as the joint offerors hold 176.04 million shares, or 91.88% of the issued shares in Yee Lee.

This is above the 90% threshold that is needed to withdraw its listing status or to undertake a compulsory acquisition of the company.

“Consequently, Yee Lee is currently not in compliance with the public spread requirement as the public shareholding spread of Yee Lee is only 8.12%. The joint offerors will not take any steps to address the shortfall in the public shareholding spread, ” it said.

The closing date is at 5pm on June 23.

To recap, on May 12, Yee Lee Corp Bhd’s major shareholders, which then owned a combined 89.94% stake in the company, launched a voluntary takeover to acquire the remaining shares at RM2.06 per share.

The voluntary takeover offer was from its executive chairman Datuk Lim A. Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lee Ee Young and Langit Makmur Sdn Bhd. Lim is also chairman of SPRITZER BHD.

Yee Lee’s board said the offer price was 3.52% to 5.64% over the five-day, one-month and three-month volume weighted average prices of Yee Lee shares.

However, the offer price was 1.44% to 9.65% below the six-month and 12-month VWAPs of Yee Lee shares.

The board said the offer provides the holders with an exit opportunity to realise their investment in the shares compared to various closing prices.

“Notwithstanding the above, we are of the view that the offer is Not Fair, as the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee shares of between RM3.49 and RM3.60, ” it said.

However, the offer was reasonable as the joint offerors hold 91.88% of the issued shares in Yee Lee.

“Consequently, Yee Lee is currently not in compliance with the public spread requirement, ” the board said.

The board added that the offer was not fair but reasonable and recommended the holders accept the offer. The non-interested directors also concurred with its opinion.

Affin Hwang Capital Investment Bank, which is the independent adviser to the minority shareholders, also shared the same viewpoints.

“The above, the offer price represents a discount of RM1.43 to RM1.54 or 40.97% to 42.78% to the estimated fair value of Yee Lee Shares of between RM3.49 and RM3.60.

“Premised on our overall assessment of the offer price, we are of the view that the offer price is not fair, ” it said. However, the offer is reasonable as the joint offerors hold 91.88% of the issued shares and Yee Lee is currently not in compliance with the public spread requirement.

Posted by Hafid > 2020-06-12 14:37 | Report Abuse

so anybody here reject the deal. lower than the previous deal

Posted by Hafid > 2020-06-12 14:37 | Report Abuse

2.33 to 2.06

Posted by stockraider > 2020-06-12 16:10 | Report Abuse

Just forget it & wait lah....!!

Posted by EtanWals > 2020-06-12 21:11 | Report Abuse

So what will happen if we reject and hold our shares? will this company suspend and delist after 23 June?

Posted by Hafid > 2020-06-13 12:20 | Report Abuse

THERE WILL OFFER AGAIN

Posted by Hafid > 2020-06-13 12:20 | Report Abuse

UNLESS REALLY THERE DELISTED AND MAY OFFER AGAIN. UNLESS IS THE COMPUSLORY DELISTING

Posted by stockraider > 2020-06-13 12:43 | Report Abuse

Compulsory delisting is confirmed, but compulsory acquisition they have not achieved loh...!!

I m sure they will eventually offer u a higher price unless they manage to compulsory acquire our share which 90% of the balance not owned by them when the takeover offer is make loh...!!

Posted by Hafid > Jun 13, 2020 12:20 PM | Report Abuse

UNLESS REALLY THERE DELISTED AND MAY OFFER AGAIN. UNLESS IS THE COMPUSLORY DELISTING

Posted by hw0706 > 2020-06-13 21:14 | Report Abuse

that's why there still ask to accept. this is what happen to one of singapore share i have until there offer me another price much higher.

Posted by hw0706 > 2020-06-13 21:25 | Report Abuse

how do you know there have enough to do compulsory acquisition in these case is at 2.06 which is low vs the offer option 1 2.33. but realistic at least at rm3.00

Posted by Sebastian Power > 2020-06-15 21:52 | Report Abuse

Now should buy more from open market and fight with that old LIM A HENG

Posted by riskabsorber > 2020-06-19 08:42 | Report Abuse

They need money for capex which indicates in the offer letter. Likely they will re-list in either Singapore in the near future. One of the fund know about it and did not sell even offer them 2.33 in the 1st privatization.

Posted by Hafid > 2020-06-24 11:26 | Report Abuse

In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. The suspension will be effected from 9.00 a.m. (Malaysian time) on Wednesday, 1 July 2020. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.



In addition, Section 223(2) of the CMSA requires the Joint Offerors to give the Dissenting Holders a notice in the manner prescribed under the Rules of the rights exercisable by the Dissenting Holders under Section 223(1) of the CMSA ("Notice to Dissenting Holders"), within 1 month of the time the Joint Offerors receive Valid Acceptances resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors holding not less than nine-tenths (9/10) in the value of all the shares in Yee Lee on or before the Closing Date.



As the Joint Offerors have, in relation to the Offer, received Valid Acceptances in respect of the Offer Shares resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors to collectively hold not less than nine-tenths (9/10) in the value of all the Yee Lee Shares, the Joint Offerors will issue the Notice to Dissenting Holders to inform them that they may exercise his/ her rights under Section 223(1) of the CMSA. According to Section 223(1) of the CMSA, the Dissenting Holders may serve a notice on the Joint Offerors to require the Joint Offerors to acquire his/ her Offer Shares on the same terms as set out in the Offer Document or such terms as may be agreed between the Joint Offerors and such Dissenting Holder or as the High Court may, on application made to it by such Dissenting Holder or by the Joint Offerors, thinks fit to order under Section 224(3) of the CMSA. The Notice to Dissenting Holders may specify the period for the exercise of the rights of the Dissenting Holders and in any event, such period shall not be less than 3 months after the Closing Date.



Accordingly, the Notice to Dissenting Holders will be dispatched to the Dissenting Holders within 1 month from 5 June 2020, being the date of receipt of the Valid Acceptances resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors to collectively holding not less than nine-tenths (9/10) in the value of all the Yee Lee Shares.



This announcement is dated 23 June 2020

Posted by Hafid > 2020-06-24 16:09 | Report Abuse

will it the offer the same

Posted by riskabsorber > 2020-06-24 17:42 | Report Abuse

Accordingly, the Notice to Dissenting Holders will be dispatched to the Dissenting Holders within 1 month from 5 June 2020, being the date of receipt of the Valid Acceptances resulting in the Joint Offerors and person(s) acting in concert with the Joint Offerors to collectively holding not less than nine-tenths (9/10) in the value of all the Yee Lee Shares.


What if the dissenting holders are some fund managers ? They have bigger bargainning power.

Posted by riskabsorber > 2020-06-24 17:43 | Report Abuse

Am still waiting for their annual report 2019 to show who haven't sell during RM2.33.

Posted by wunyoong22 > 2020-06-24 22:28 | Report Abuse

Can we just hold?

Posted by Hafid > 2020-06-25 11:48 | Report Abuse

how many share you have now

Posted by wunyoong22 > 2020-06-27 07:07 | Report Abuse

5lot only

Posted by riskabsorber > 2020-06-30 10:35 | Report Abuse

The management decided to wait until the last day only disclose who's the 30th Largest shareholders. I believe EPF is still holding as Dissenting Holder. They will make the compulsory takeover failed. Buy more to hold an unlisted company now.

Posted by wunyoong22 > 2020-07-01 10:57 | Report Abuse

So now , how is it?

Posted by Shareholder99 > 2020-07-02 12:11 | Report Abuse

******************************************************************************
Let’s reciprocate to Yee Lee Major Shareholder Unfair Privatization
******************************************************************************

These cunning fellow first trying to buy out minority shareholders’ shares, in big discount to net asset value. After minority shareholders have been supporting the company for so long, it immorally kicks out minority shareholders, so it can enjoy the large valuable asset in the company by themselves. Then, taking advantage of the Covid-19 outbreak, using Bursa rules loophole to further lower the privatization price, squeeze the last drop out of dissenting minority shareholders.

Well, we all lose out in this battle to protect our interest, but we can at least do something to reciprocate to our selfish and disgraceful major shareholders, who are Dato' Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn Bhd.

From now on, lets reciprocate to their unfair privatization:
(1) Make sure don’t invest in any company that these people owned or involved in, else you may end up in same story, being forced to sell your shares in lost.

(2) Boycott all Yee Lee products, such as Red Eagle (Helang Oil), Vesawit, SunLico, NeuVida, Vecorn, Vesoya, Sabah Tea, Sabah Tea Tarik, Red Bull. Anyway, in the first place I also think these products are of low quality, mainly targeting low and cheap market.

(3) Make their business conduct difficult, by voting against any resolutions, if they purposely not sending annual report, circular, complain to company commission, make them trouble to needing to answer to authority.

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>

Posted by Shareholder99 > 2020-07-02 12:12 | Report Abuse

Boycott all Yee Lee products, such as Red Eagle (Helang Oil), Vesawit, SunLico, NeuVida, Vecorn, Vesoya, Sabah Tea, Sabah Tea Tarik, Red Bull, to punish the major shareholders!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Posted by HrryPttr > 2020-07-06 17:37 | Report Abuse

I will not back off until they up their offer

Posted by wunyoong22 > 2020-07-07 16:25 | Report Abuse

I am still.holding

Posted by wunyoong22 > 2020-07-18 20:00 | Report Abuse

Any news?

Posted by Helpme123 > 2020-07-31 11:52 | Report Abuse

What will happen to the stocks I hold for Yee Lee. Someone please advise?

Posted by wunyoong22 > 2020-08-17 16:04 | Report Abuse

AGM on 27th Aug 2020, anyone will attend?

Posted by kimpeng > 2023-04-19 14:21 | Report Abuse

dividend again hehe