Another pure speculative stock that has gotten some investors facing huge losses. It all started with the announcement dated 8th Feb indicating Datuk Abd Aziz buying a 31.61% interest in Utusan from UMNO at a price of 19 sens (a premium of more than 65% vs the closing price of 11.5 sens on the 8th Feb which was a Friday). The next Monday the share price went up substantially to an intraday high of 31sens with most of the investors assuming that there will be a potential offer made by Datuk Abd Aziz to take Utusan private.
Investors failed to take note of the % acquisition by Datuk Abd Aziz from Umno was below the 33% threshold needed to spark a General Offer by Datuk Abd Aziz. The same can be said with another UMNO link company KUB where Anchorscape bought 32% interest from UMNO at 68 sens (a premium of around 50% from the last traded price prior to the announcement). Like Utusan, KUB new shareholder is also not obliged to make the same offer to the other shareholders.
As of Dec 18, Utusan is still a loss-making company that still falls under the PN17 status. Excluding all the one-off items (such as impairments and cost relating to VSS), the total net loss for FY18 would still be a high of RM35mil. The future of the company remains weak with the now lack of support from UMNO and Federal Government. The most probable outcome in FY19 would be a further loss.
The balance sheet is also weak with NTA of -RM91.1mil or -82sens per share.
If you are looking to hedge your portfolio outside of Utusan (due to its weak earnings outlook and risks relating to its PN17 status), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.1x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.
FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).
MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.0x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.
[UTUSAN] Change In Substantial Shareholder's Shareholding - NILAM SETAR (M) SDN BHD on 23-Jul-2019 Stock [UTUSAN]: UTUSAN MELAYU (MALAYSIA) BHD Announcement Date 23-Jul-2019 Substantial Shareholder's Particular: Name NILAM SETAR (M) SDN BHD Details of Changes: Currency - Date of Change Type Number of Shares 19-Jul-2019 Acquired 5,500,000 Registered Name NILAM SETAR (M) SDN BHD Nature of Interest Direct Interest Nature of Interest Direct Interest Shares Ordinary Shares Reason Acquisition of 5,500,000 shares by way of Direct Business Transaction Total no of securities after change Direct (units) 21,843,000 Direct (%) 19.72 Indirect (units) 0 Indirect (%) 0.00 Total (units) 21,843,000 Total (%) 19.72 Date of Notice 22-Jul-2019
someone will rescue this umno newspapers... take over it and revamp and change it to a neutral newpapers / media group...
DATO ABD AZIZ SHEIKH FADZIR 08-Feb-2019 Notice of Interest 35,000,000 0.000 View Detail OPULENCE ASIA SDN. BHD 08-Feb-2019 Notice of Interest 35,000,000 0.000 View Detail
grab some rubbish, it might turn into gold later.......... some jump it to buy it and them turn it into a neutral media group ......... no longer an umno media group... haha
just implement private placement to umno linked tycoons, cash issue will be resolved... or offer to sell it to interested parties to turn it into a neutral media group
umno politicians wont let it die... quite recent ... mau utusan mampus, tak kan beli more and more
[UTUSAN] Notice of Interest of Substantial Shareholders - DATO ABD AZIZ SHEIKH FADZIR on 08-Feb-2019 Stock [UTUSAN]: UTUSAN MELAYU (MALAYSIA) BHD Announcement Date 08-Feb-2019 Substantial Shareholder's Particular: Name DATO ABD AZIZ SHEIKH FADZIR Details of Changes: Currency - Date of Change Type Number of Shares 08-Feb-2019 Acquired 35,000,000 Nature of Interest Indirect Interest Shares ORDINARY SHARES Reason ACQUISITION OF SHARES Total no of securities after change Direct (units) 0 Direct (%) 0.00 Indirect (units) 35,000,000 Indirect (%) 31.61 Total (units) 35,000,000 Total (%) 31.61 Date of Notice 08-Feb-2019
last month only... mau utusan mati, stop kidding... haha... new hero might emerge anytime
[UTUSAN] Change In Substantial Shareholder's Shareholding - NILAM SETAR (M) SDN BHD on 23-Jul-2019 Stock [UTUSAN]: UTUSAN MELAYU (MALAYSIA) BHD Announcement Date 23-Jul-2019 Substantial Shareholder's Particular: Name NILAM SETAR (M) SDN BHD Details of Changes: Currency - Date of Change Type Number of Shares 19-Jul-2019 Acquired 5,500,000 Registered Name NILAM SETAR (M) SDN BHD Nature of Interest Direct Interest Nature of Interest Direct Interest Shares Ordinary Shares Reason Acquisition of 5,500,000 shares by way of Direct Business Transaction Total no of securities after change Direct (units) 21,843,000 Direct (%) 19.72 Indirect (units) 0 Indirect (%) 0.00 Total (units) 21,843,000 Total (%) 19.72 Date of Notice 22-Jul-2019
UNITED MALAYS NATIONAL ORGANISATION (UMNO) 08-Feb-2019 Disposed 35,000,000 0.000 View Detail DATO ABD AZIZ SHEIKH FADZIR 08-Feb-2019 Notice of Interest 35,000,000 0.000 View Detail OPULENCE ASIA SDN. BHD 08-Feb-2019 Notice of Interest 35,000,000 0.000 View Detail
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....
KUKU JIAO PUNTER
2,613 posts
Posted by KUKU JIAO PUNTER > 2019-02-27 16:17 | Report Abuse
rubbish can never become gem okay