Bank Negara Malaysia has given their consent for P&O to commence preliminary negotiations with Sanlam Ltd on the proposed divestment. Buy, buy, buy, target price = 1.60 if divestment successful
PROPOSED DIVESTMENT OF 49% EQUITY INTEREST IN PACIFIC & ORIENT INSURANCE CO BERHAD (“POI”) TO SANLAM EMERGING MARKETS PROPRIETARY LIMITED (“SEM”) (“PROPOSED DIVESTMENT”)
We refer to the earlier announcements dated 7 September 2012 and 12 September 2012 in relation to the Proposed Divestment. Hong Leong Investment Bank Berhad (formerly known as MIMB Investment Bank Berhad), on behalf of the Board of Directors of POB, wishes to announce that the Minister of Finance of Malaysia had, by a letter from Bank Negara Malaysia dated 26 November 2012 (which was received on even date), pursuant to Section 67 of the Insurance Act 1996, approved the following:
(i) POB to dispose 49% of its equity interest in POI to SEM; and
(ii) POB to transfer one share of POI to Pacific & Orient Nominees Services (Tempatan) Sdn Bhd.
As the Proposed Divestment is subject to the execution of a sale and purchase agreement, further details will be announced in due course.
I am waiting for the DIVIDEND that will be declared after getting money from SANLAM. I hope the DIVIDEND will be more than 15SENS which have been predicated by some fund managers.
DIVESTMENT OF 49% EQUITY INTEREST IN PACIFIC & ORIENT INSURANCE CO. BERHAD TO SANLAM EMERGING MARKETS PROPRIETARY LIMITED FOR A CASH CONSIDERATION OF RM270,000,000 ("DIVESTMENT")
We refer to the earlier announcements in relation to the Divestment.
On behalf of the Board of Directors of the Company, Hong Leong Investment Bank Berhad (formerly known as MIMB Investment Bank Berhad) wishes to announce that the Divestment has been completed today.
Sochle, what facts are you basing they it will fly on monday? Bc47.... Can you post the news where they plan to give out special dividend of. 15sen. Pls???? Thanks!
It is undervalued. Based on the completed divestment of POI for rm270M and appro.250M shares issued and the earlier announcement of 15 sens ,and even upside perhaps, special dividend.and also there are signs of increasing daily volumes. Thus, I guest there will be some strong buying, may be 1 or 2 millions share, next week. Good luck and happy trading.
observe market now only left 2 pure insurance counters 1) P&O 2)TUNEINS 太平洋与东方(P&O,6009,主板金融股)拥有保险业最赚钱的摩多车保险业务 集团整体索赔率44%,低于业界平均的75%。集团的索赔拨备较审慎,预计一些拨备会重新入账,索赔率可能更低。 脱售太平洋与东方保险(P&O Insurance)49%股权后,集团宣布派发每股15仙特别股息。集团仍有能力回退更多核心资本予投资者。
P&O PACIFIC & ORIENT BHD Special Dividends 18.99 Sen (Franked div 15.17 sen Less Tax & T.E. div 3.82 sen)
Entitlement Details: Special Dividends - franked dividend of 15.17 sen less 25% income tax and tax exempt dividend of 3.82 sen per ordinary share of MYR0.50 each
Entitlement Type: Special Dividend Entitlement Date and Time: 07/06/2013 05:00 PM Year Ending/Period Ending/Ended Date: 30/09/2013 EX Date: 05/06/2013 To SCANS Date: Payment Date: 25/06/2013 Interest Payment Period: Rights Issue Price: 0.000 Trading of Rights Start On: Trading of Rights End On: Stock Par Value:
Share transfer book & register of members will be closed from 07/06/2013 to 07/06/2013 (both dates inclusive) for the purpose of determining the entitlements
A Depositor shall qualify for the entitlement in respect of: - Securities transferred into the Depositor's Securities Account before 07/06/2013 04:00 PM in respect of ordinary transfers. - Securities transferred into the Depositor's Securities Account before in respect of express transfers. - Securities deposited into the Depositor's Securities Account before in respect of securities exempted from mandatory deposit. - Securities not withdrawn from the Depositor's Securities Account as at . - Securities bought on KLSE on a cum entitlement basis according to the Rules of the KLSE.
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....
andyteng
457 posts
Posted by andyteng > 2012-02-23 21:50 | Report Abuse
How come heavily