Posted by kahhoeng > Jan 2, 2017 11:31 AM | Report Abuse
stockraider,,
Seems you are familiar with the process, wonder if you have approached SC for that? I think I needs sufficient number of minority shareholders to have any impact. That's why I am urging any of you to attend EGM to get Rozali's nod to cash option to concerned shareholders. If failed, we of all concerned shareholders shall approach SC together.
If we are only saying this and that here but never voice out, nobody will care how minority shareholders felt! Damn pissed off with how Puncak's board is doing so far.
KAHLEONG MY POSITION IS VERY SMALL....BUT MY FRIENDS & I HAD DONE IT BEFORE & QUITE SUCCESSFUL AND END OF DAY THE COMPANY NEED TO GIVE CASH OPTION FOR MINORITY LOH...!!
THERE ARE CASES WHERE SC DID NOT OFFICIAL OBJECT, BUT THROW BACK TO THE INVESTMENT BANK TO COME BACK WITH A FAIRER PROPOSAL LOH...!! THIS APPROACH SC HAS DONE MANY MANY TIME...!! IT IS AN UNWRITTEN RULE LOH...!!
I THINK U SHOULD CC...MINORITY WATCHDOG GROUP (MSWG), THEY ARE VERY HELPFUL AND THEY GIVE U FREE ADVICE TOO. U GO AND MEET THEM, SOME OF THEM ARE EX INVESTMENT BANK, BURSA, REGISTRAR OF COMPANIES AND SC LOH....!!
I AM ALSO A MEMBER OF MSWG FOR ABOUT 5 YRS LOH....!!
good to know you have experience doing it but sad to know you are interested with the work in Puncak due to smaller investment. Having approached SC for my concerns already, I will stick to my plan to voice out in EGM. Failing which, I will ask minority shareholders participation to meet SC together, believing that numbers count when approaching SC. Just hope that minority shareholders here hoping to get it resolve will attend and support.
To update SC... your earlier worry... has become reality... using PEB... on the TRIplc RPT... rosali... has made a mockery... of the mark to market (MTM) policy..
I have made official complaint to SC over two issues:
1. CIMB analyst report not based on factual information and an unwillingness to present a corrected version besides not replying my emails.
2. Concern over Puncak Niaga's pricey plantation and questionable TRIPLC deal (Tan Sri Rozali has been disposing shares of TRIPLC lately.)
If you have similar concerns, you can email: aduan@seccom.com.my OR call 03-6204-8999 Investor Affairs & Complaints Department now before the EGM. It should help if there are more people calling SC up for help before EGM. Should we fail in our attempt during EGM, we shall call up SC to make appointment immediately.
I could be wrong with Rozali disposing TRIPLC shares, cause I was not able to reconfirm of late through Bursa website. I could have misread other director(s)' disposal as his.
Will focus on TRIplc RPT... on using PEB... to privatise TRIplc with a market price of less than 1.90.... and sell it to PUNCAK at 3.00 immediately..... making a mockery... of open market mechanism of price discovery...
shouldn't we focus on the deals and the balance sheet? Once these two are in order, so will the share price. Fight to get a capital opt-out at 2.50 cash per share if Rozali believe the deals he has inched are good.
Just called Adrian of Public Investment Bank, the independent adviser of Puncak Niaga acquisition of TRIPLC. I have asked on what I should do if I would like to request for a capital repayment for minority shareholders disagreeing with the deal. He said he would get back to me. Public Investment Bank contact number is 603-2166 9382.
really admire your persistent kahhoeng. will at least vote no for the triple deal. maybe one day you will be an pioneer activist investor like Carl Icahn in malaysia context.. hahaha
cheoky thank you for your support, would be even greater if you could attend the EGM to protest. I used to give some reservation due to our quality board, but Puncak is really puncak in this, blatant disregard of minority shareholders interests despite strengthening in Malaysia securities regulation of the past decade. Has it not so mad at how the board has responded to shareholders concern, I would have kept quiet.
steveooikp, Puncak has cash per share of 2.50, net asset per share of 3.41. I don't think my average cost of 1.80 is high. The problem is how the board has responded so far to market concern!
steveooikp I intend to hold at least 95% until EGM, the other 5% has been mainly for trading purposes, and ask for cash-out option for minority shareholders that includes me.
steveooikp, focus on the balance sheet and the deals announced, so long companies are run properly, share price will reflect soon... in Puncak case, we, minority shareholders, have to voice out to have the chance to exit Puncak through capital repayment of 2.50 per share. Attend EGM together, voice out together!
when can be turn into profit? Next quarter or next year? If have to wait for next year, then I afraid at that time puncak price already down to 50 c, 1 quarter down 10c, 4quarter will be 40c.
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....
r°Moi
5,802 posts
Posted by r°Moi > 2017-01-02 14:16 | Report Abuse
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r°Moi also have companies... with market value at 1.30... want to inject into Puncak at only 1.90..... rosali
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