Posted by yhwong > 2019-07-09 13:41 | Report Abuse

haha, well become a director :D how soon they will proceed to de-list the company ya? any news?

Posted by yhwong > 2019-07-09 13:43 | Report Abuse

and how come those fund like PBB & EPF just keep silence seems?

Posted by Sebastian Sted Power > 2019-07-09 14:11 | Report Abuse

cannot be EPF or other funds dumping. If they want dump, Rm2.33 already received the offer. WHo else got so many shares to dump? Confirm is Dato Lim la. Right hand he bought RM2.33 before 3 July; left hand after 3 July he dump RM2.25, 2.20, 2.15 in block to make you and me feel afraid

I will log a report to SC later to raise my queries on the trading after 3July

Posted by audrey74 > 2019-07-09 15:29 | Report Abuse

Support u..Sebastian

Posted by Tomatoman79 > 2019-07-09 17:43 | Report Abuse

i believe they cannot make yeelee private as the offer is fall off.even they able to get 90% now, they still can't. not sure why you all said to make it private? or am i wrong?

Posted by Hafid > 2019-07-09 17:57 | Report Abuse

Still can delist. Just that need to wait for one year

Posted by Hafid > 2019-07-10 14:27 | Report Abuse

KUALA LUMPUR: The privatisation of Yee Lee Corp Bhd did not materialise as the joint offerors, one of whom is the founder, were unable to garner enough acceptance for the voluntary takeover offer at RM2.29 per share (excluding four sen dividend).


The Lim family controlled 116.6 million or 60.86% of Yee Lee shares when the takeover offer was made in late-April.

Under the circumstances, Yee Lee remains listed for now, until Lim and Dymon Asia decide on the next step.

An option the joint offerors may consider is to continue mopping up more shares on the open market to raise their shareholding to 90% and seek the stock exchange’s approval to suspend the trading of the shares.

Once trading is suspended, the chances of minority shareholders taking up the offer will be higher as most investors are not keen to hold non-traded shares.

In fact, the joint offerors are short of only 287,406 Yee Lee shares to suspend the stock.

Still, those shares in hand will only enable the duo to suspend the trading of the shares but not undertake a compulsory acquisition to buy the remaining shares they do not own.

“They (the offerors) may consider an exit offer later at [a] different price, which could be lower, higher or even the same price,” said a corporate finance adviser, noting a fresh offer will not be backdated to the earlier offer.

Posted by gsi723 > 2019-07-10 23:02 | Report Abuse

To be fair, probably it will re-offer the same price...

Posted by Hafid > 2019-07-11 05:31 | Report Abuse

Can be lower than previous offer

Posted by HuatAh8809 > 2019-07-11 07:31 | Report Abuse

OK, give up

Posted by desmondcsh > 2019-07-11 07:45 | Report Abuse

Sometimes we cannot be greedy. Good price then must take. Now the owner angry liao. Haiz. Any idea when he will do another offer?

Posted by Tomatoman79 > 2019-07-11 09:16 | Report Abuse

they play with your emotion to let u sell. if the offer is not fair, then hold. let them be the one who suffer cannot take the business

Posted by audrey74 > 2019-07-11 09:46 | Report Abuse

We r not greedy. We r making lose.

Posted by yhwong > 2019-07-11 09:59 | Report Abuse

why my comment disappeared? some one removed my comment?

Posted by Tomatoman79 > 2019-07-11 10:01 | Report Abuse

only u can delete your comment. LOL

Posted by yhwong > 2019-07-11 10:07 | Report Abuse

no, my comments really disappeared leh

Posted by yhwong > 2019-07-11 10:07 | Report Abuse

I typed again just now, split into multiple messages, still it disappear. trust me.

Posted by yhwong > 2019-07-11 10:09 | Report Abuse

No one protect the public, like that I might as well put my money into FD, let the bank loan my money to those f**cker and collect interest from them? Yet I don't have to bear their lossing in any case.

Posted by yhwong > 2019-07-11 10:09 | Report Abuse

ok. i can't put any f**cker or s**cker words

Posted by yhwong > 2019-07-11 10:26 | Report Abuse

Those blood s*ckers are happy to public list their company, to "loan" money from public to expand their business. When make loss, the public have to bear it together, but when making profit, those blood s**ckers wanna grab all the earnings. They are more then happy to public list their company, instead of getting loan from bank, because they can easily bully the public, but can never bully the bank.

Posted by desmondcsh > 2019-07-11 13:50 | Report Abuse

aiya, in this world no one is kind enough to give free money la.

Posted by drt6398 > 2019-07-11 13:54 | Report Abuse

Are the joint offerers selling to each other to lower down the price? Or there’s a third party selling to them as in those fund managers?

Posted by Hafid > 2019-07-11 16:22 | Report Abuse

most after a year will have new offer.

Posted by Hafid > 2019-07-11 16:22 | Report Abuse

still can play spritzer. same shareholder

Posted by Hafid > 2019-07-11 16:23 | Report Abuse

PPB & EPF not so stupid to dump at below price. if really that stupid than better change the investment team.

Posted by Hafid > 2019-07-11 16:24 | Report Abuse

there need to stand for the everybody interest.

Posted by yhwong > 2019-07-12 09:20 | Report Abuse

desmondcsh, ya this world no one is kind to give free money. But who is greedy? you seems mentioned that we can't be greedy? Which party kena bully? The owner or the public? you are on which site actually, I wonder. haha.

Posted by PotentialGhost > 2019-07-12 11:49 | Report Abuse

Sell la idiot local trader , everyday sell in bursa so like to sell , why don't you just sell ?

Posted by stockraider > 2019-07-12 12:42 | Report Abuse

These fund manager are not so smart, already proven mah...!!

Posted by Hafid > Jul 11, 2019 4:23 PM | Report Abuse

PPB & EPF not so stupid to dump at below price. if really that stupid than better change the investment team.


Hafid
411 posts
Posted by Hafid > Jul 11, 2019 4:24 PM | Report Abuse

there need to stand for the everybody interest.

Posted by drt6398 > 2019-07-12 13:23 | Report Abuse

We further wish to inform that Bursa Securities had vide its letter dated 10 July 2019 (which was received on 11 July 2019), granted the Company an extension of time of 6 months until 4 January 2020, to comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements ("Public Spread Requirement").

Meaning the public has to hold more than 20% by 4/1/2020 to maintain the listing status?am I correct?

Posted by investlogic > 2019-07-16 16:46 | Report Abuse

For every minority shareholders, we can protest by vote against every resolutions from now on. It may not have much impact for normal resolutions; however, for related party transaction, which major shareholder cannot vote, will be significant! I understand few minority planning to do so, me too, i will do so to protest, unless major shareholder revise the price to a more reasonable level.

Posted by wunyoong22 > 2019-07-16 16:50 | Report Abuse

How to do it, can you share the method? We need to unite together

Posted by investlogic > 2019-07-16 18:00 | Report Abuse

Simple, wait for next AGM / EGM, when the circular send to you (or you download from bursa announcement), fill up the proxy form to vote against all resolution. This can send them a clear message.

In worse case scenario, even after our struggle failed, it is delisted and became private company, based on company law, they still need to send shareholders the AGM ang EGM notice, allowing us to vote accordingly.

Posted by audrey74 > 2019-07-22 10:36 | Report Abuse

No transaction

Posted by Hafid > 2019-07-22 12:52 | Report Abuse

Buy and own 10%. Than you can have say

Posted by Hafid > 2019-07-22 12:54 | Report Abuse

if there is a group of opportunists behind who collectively own more than 10% stake and they refuse to sell, it would be difficult for the joint offerors to accumulate shares on the open market. As a result, they might be forced to raise the off er price.

Posted by Hafid > 2019-07-22 12:55 | Report Abuse

the family want to take the company private, but I
don’t think they have to do it urgently. So there have time for it.

Posted by Hafid > 2019-07-22 12:59 | Report Abuse

assuming that there is a group of opportunists trying to
block the privatisation, we need to know where is the fund from. Another option is to apply for voluntary delisting, which has to be approved by a majority of shareholders, in number, representing 75%shareholding present and voting either in person or by proxy at
the meeting called for, but not more than 10% objection, according to its circular to shareholders. More-over, a reasonable exit offer must be made to minority shareholder

Posted by Hafid > 2019-07-22 13:11 | Report Abuse

Yee Lee’s all-time high share price was at RM2.72 on May 11, 2017. Shareholders could be looking at getting an off er about this price level or higher.
Notably, shares in Yee Lee spiked to RM2.29 on April 29 when the VGO was made from RM1.91 in the previous trading day. That said, Ee Young sees little
reason to launch a fresh off er at a
higher price. “I don’t think that will be our
consideration. As it is, our share price didn’t go up, it has gone down. I don’t really see a need to raise
price. But again, I cannot rule that out completely. We have to discuss with our partner,” he said.
Another option is to make a new offer instantly, but it has to be at the same price. Not many people are
aware of such an option. For the option, the joint off erors will have to take two things into
consideration. First, if they make a new offer, even at the same price, they have to pay adviser’s fee again, which is not cheap. Secondly, how likely that the minorities would accept the off er that they have rejected not that long ago?
By the same token, there could be some shareholders who regretted not having accepted the off er. If
given a second chance, they might The joint off erors may consider to continue mopping up shares on the open market to raise their shareholding to 90% and request for voluntary suspension of trading In the company’s shares (but they cannot request for delisting as they need to obtain the 90% sharehold-
ing from general off er).Once trading is suspended, the chances of minority shareholders accepting the offer will tend to be higher as most investors are not
keen to hold non-traded shares.Indeed, the regulator will suspend the trading of Yee Lee shares under
the listing rules if the public spread requirement persistently not met.However, there might not be
many shares on the open market for the off erors to buy. Th ere were only 456,600 Yee Lee shares changing hands for the whole of last week.

Posted by investlogic > 2019-07-22 16:07 | Report Abuse

SGX recently amend the rules to make Privatizing Rules to be more fair to Independent / Minority shareholders in privatization case:

(1) The offer price must be BOTH "Fair" and "Reasonable"

(2) To vote for delisting the company, the interested Joint Offerors cannot vote, it will need 75% yes from the independent shareholders.

I praise SGX's speed and bold actions in patching cracks in their old rules. With this rules, i think major shareholders can no longer so easy to take minority shareholders advantages, and it is much more fair now.

If Bursa follow this amendment, then we will be more protected!

We should all complaint and feedback to Bursa, asking them to follow SGX, it is obvious that the current privatization rules and delisting rules, is very weak and often being abused by major shareholders.

If Bursa eventually choose to stick back to their old defective rules, we should all just more our investment to SGX, which has a more complete and fairer playing ground.

Posted by investlogic > 2019-07-22 16:10 | Report Abuse

Thumbs up for SGX!!!

Posted by audrey74 > 2019-07-23 10:07 | Report Abuse

No transaction

Posted by audrey74 > 2019-07-23 10:12 | Report Abuse

Please let you know, the reason why we are not selling is because we r still making loss. Don't talk about making money yet. We r not greedy...however as a business man like you...r you keen to do money losing biz?

Posted by wunyoong22 > 2019-07-23 11:25 | Report Abuse

I think we stuck here.

Posted by audrey74 > 2019-07-23 18:10 | Report Abuse

wunyoong22 Not really..if they keen and sincere..they offer us a good price...No hurry
...this is a good counter, no harm holding on

Posted by wunyoong22 > 2019-07-23 19:16 | Report Abuse

I think nrxt quarter result will improve a lot due to the privatization. They purposely make previous quater results poor

Posted by investlogic > 2019-07-24 15:30 | Report Abuse

As an investor and businessman, why am i not selling?

First, i am not selling a dollar worth of things for 50 cents, in loss! And, i don't like to get bullied.

Secondly, even eventually the company being taken private, i am ok with holding private company shares. The Lim family together with Dymon Equity Private Equity Fund, taking the company private for reasons. My bet is they will do some big exercises, then relist the company in future with a much higher valuation.

This is no secret, a lot of major shareholders had been doing so, delist the company with cheap valuation, then relist it with very expensive valuation, examples are Magnum, Astro, Leong Hup, Titan Chemical, and many others. Often, they pay out excess cash as dividends very soon after controlling 100%. Sometimes i seriously not understand why Bursa and SC can just sit there and watch this types of unfair event happen and happen again, so unfair to retail investors.

Finally, being shareholders of private companies, if they dare to oppress minority shareholders, we can still fight them using company law, take them to court, or go to press. We can drag on forever with them if they make unreasonable transactions, this can be detriment for their plans, and i don't think they want this.

Posted by audrey74 > 2019-07-24 18:13 | Report Abuse

Very simple..they offer us reasonable price. Then we go

Posted by Hafid > 2019-07-25 12:01 | Report Abuse

2.18 - 6% yield

Posted by audrey74 > 2019-08-06 20:30 | Report Abuse

Since already make so much losses...we keep the stock then