Maa just bought 7% price already hit 0.28, If bought 10% price will be 0.50 If bought 20% price will be RM1.00 If bought 30% price will be RM1.50 If bought 40% price will be RM2.00 If bought 51% to have full control of the company price will be RM3.00
KNM is like the golden goose that laying golden eggs ! That’s why MAA knew it and quickly bought it before other people buy it infront of them !
KNM’s multinasional diversified in a lot of business sector including the most valuable Borsig & renewable energy with plants in Thailand & also got plants in England !
Previously in June this year, MAA proposed to acquire a 57.78% stake in Turiya Bhd from Ithmaar Bank BSC for RM23.8 million, in a bid to extend a mandatory takeover offer on the machinery and chemicals manufacturer.
The group proposed to acquire 132.15 million Turiya shares from Ithmaar Bank at 18 sen per share. It also intends to maintain Turiya's listing status on Bursa Malaysia.
However, Empire Holdings Bhd, which is Turiya's largest shareholder, was granted an injunction by the High Court to restrain MAA Group from taking any further action in relation to the acquisition until further orders from the court.
MAA failed to takeover Turiya Bhd...Now MAA eye are on KNM.....is there any potential of Mandatory takeover ? very interesting.
this transaction is super fishy...MAA cant even tell the true core business and advantage of KNM by simply looking at its NTA and "improved oil price" ? even a newbie can tell the same things. BTW MAA already made 10m unrealised capital gain based on the entry price of 22.7 cents within a month. it's definitely a good "investment" for them.
investment is the rite word like u said. u can bet that MAA will sell KNM as soon as the made further millions from this so called investment. so, is it fishy? no. is it opportunistic..yes. MAA is following the playbook made by FINTEC
maybe MAA already got 10% ? if they are smart which i'm sure they are, they would have acquired more shares from the open market yesterday on 2 sep before all the necessary disclosure. let's see later this evening if there's any notice.
their announcement yesterday dated 2 sep was for accumulation from 3 aug - 1 sep.
"the Company has acquired to date over the period from 3 August 2021 to 1 September 2021 from the open market a total of 233,001,800 ordinary shares of KNM Group Berhad (“KNMG”) at an average price of RM0.227 per share, representing 7.01% of the total issued share capital of KNMG for a total purchase consideration of RM52,891,408.60 "
perhaps it's just an usual investment done by MAA. I don't think they are keen on long term relationship with KNM. once they make enough bucks they will sell away their holding
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....
nextan
713 posts
Posted by nextan > 2021-09-02 20:46 | Report Abuse
Just wonder why MAA interested in this loss making company for what?