No profit how to give 30cents dividend and bonus shares? SC won't approve bonus shares if the profit never hit certain amount. Better stay away before limit down
Powerful proposal, will benefit to shareholders the most. There are no fund managers buying/ holding this stock yet...due to small size of capital. So mostly now up to small retailers and few with knowledge...that why I think...currently price drop, where it should be limit up.
This is an old company incorporated in 1975 with many properties/land bank which never did new valuations. I am sure the true NTA of this company is very high. The new management already inform that they going to do asset rationalisation exercise to unlock and realise the value of its non-core assets....to put non productive assets to work...so I expect more asset sales and more extra ordinary gains for shareholders.
From RM65M disposal gain, co give back to shareholders almost 50% ; RM30M i.e 30sen per shares. That very generous, unlike many, they can just keep it, especially during covid19
Did you know they has been holding it for many years and if not mistake their cost RM6, per piece, so for first time in 5 years they able to recover some.
Their right issue are actually free....they give you a choice to take cash on Special Dividend or you can change (take up) right issue with your Special Dividend. They want to raise RM30M back and if shareholders didn't take up enough, their substantial shareholder to provide an irrevocable and unconditional undertaking to subscribe in full for their entitlement. So they are not trying to raise money from public/shareholders.
Kmwong totally agree with you. Time to accumulate. The total properties in hand excluding the Section 13 properties that would be sold, has carrying value of approximately RM57 million based on the 2020 annual report. If revalued, they would worth a lot more especially the commercial land at Bagan, Butterworth. Furthermore, the new Hydro and Solar investment would provide recurring secured revenue. Noted the estimated annual revenue from the Mini Hydro project in Sabah is 600 million
It is just Mentari Maksima/ Wong Ki Chin selling. He is one of the old major shareholder but with no controlling executive power in the company. Ipmuda now has new board of directors and senior management team mainly comprising experience engineers and chartered accountant to lead the Group. Wong Ki Chin's direction is not in line with long term plan of the Group which is Renewable energy and Healthcare. Merely Wong's avenue to exit
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....
chkhooju
1,706 posts
Posted by chkhooju > 2021-06-19 14:33 | Report Abuse
Big mouth, er......