On 25 th June 2020 , Anzo entered into supply agreement with CSTME whereby CSTME has agreed to purchase up to 60000 metric tonnes of copper from Anzo at RM 23000 per metric tonne to supply to Postco International Corp for 40 months. Total contract value is RM 1.4 billion . The supply agreement is expected to increase Anzo's earning per share , net assets and future earnings in the coming QR
hi can check out VIP Gloves,operating out of Selangor. Market cap of only A$111 million. listed in Aussie, so not recognised widely yet. But company is ramping up prodn to 1 billion gloves. dyor
KUALA LUMPUR: Anzo Holdings Bhd managing director Datuk Chai Woon Chet has made an unconditional mandatory takeover offer (MTO) of restaurant owner Oversea Enterprise Bhd after acquiring 63.37% of the company.
In the notice of the takeover offer issued to Oversea board on Thursday, Chai had into into a sale and purchases of shares agreement with four parties to buy the stake, comprising 151.25 million shares, for RM45.37mil or 30 sen a share.
He acquired 73.04 million shares or 30.12% from the founder Yu Soo Chye @ Yee Soo Chye for RM21.91mil, 50.89 million shares or 20.99% from Lee Lim & Sons Sdn Bhd for RM15.27mil and 8.44%or20.46 million shares from Yu Tack Teik for RM6.13mil. The remaining stakes were acquired from Simple Angel Capital Sdn Bhd (0.25%) and Khong Yik Kam (2.58%).
Following the acquisitions, Chai's shareholding in Oversea, which owns restaurants, increased from zero to 151.25 million shares or 62.37%, and he is obliged to extend the MTO.
The offer price of 30 sen is 4.76% below the closing price of 31.5 sen on Wednesday and 8.95% below the five day volume weighted average price (VWAP) for five days of 32.95 sen.
On a one-month VWAP of 29.52 sen, the officer is higher by 1.63%.
However, the offer is up 24.07% from the three month VWAP of 24.18 sen and 28.15% above the six month VWAP of 23.41 sen.
According to the notice, Chai intends to maintain Oversea's listing status on the ACE Market. He also does not intend to compulsorily acquire the remaining shares.
Chai is also a director of M3 Technologies (Asia) Bhd.
According to Oversea website, the group started out in 1970’s as a partnership business between Yu Soo Chye @ Yee Soo Chye and an independent third party.
They founded the first “Restoran Oversea” in Jalan Imbi, Kuala Lumpur. To date the Group’s operation of food service outlets entails a chain of five Chinese restaurants, three outlets in Klang Valley and two outlets in Ipoh offering home cooked Cantonese themed cuisines.
Current copper price as quoted in LME (London Metal Exchange ) is officially USD 6440 per tonne which is equivalent to RM 26984 (assuming 1 USD=RM4.19) This is much higher than Anzo's quoted price to CSTME which is RM 23000 per tonne However , according to the supply agreement , price will be adjusted to Anzo according to market price .Copper price is currently on a bullish trend due to high demand from electric vehicle .
The copper business started on July 1st 2020 . The next QR should be on Oct 2020 . Assuming Anzo supplied 1500 metric tonnes of copper at RM 23000 per tonne for month of July , Anzo's revenue would be in the region of a staggering RM 34.5 million for last month alone .
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....
BlackWhite
1,053 posts
Posted by BlackWhite > 2020-08-04 13:37 | Report Abuse
Across the board drop is this the dreaded big correction has started I taught we got somemore 60days to live