Anzo MD Chai Woon Chet is the brother of Chai Woon Yun who is the executive director of Permaju .Recently Permaju shares shot up from RM 0.26 to RM 0.44 due to joint venture with Vsolar on a RM400million solar project .
KUALA LUMPUR (Sept 7): Minority shareholders of Oversea Enterprise Bhd (OEB), which owns and operates the Oversea restaurant chain, have been advised to accept the takeover offer by Datuk Chai Woon Chet, the managing director and substantial shareholder of Anzo Holdings Bhd, for the rest of the shares in the group for 30 sen per share.
In its independent advice circular to OEB shareholders on Bursa Malaysia today, UOB Kay Hian Securities (M) Sdn Bhd (UOBKH) recommended that shareholders accept the offer as it finds the offer “fair” and “reasonable”.
According to the independent adviser, the offer is deemed fair as the 30 sen offer price is higher than the estimated fair value per share of 21 sen, representing a premium of 42.86%, and also above the market price of OEB’s shares as at the one-month, three-month, six-month, one-year, two-year and three-year volume weighted average price (VWAP).
It also pointed out that the offer is reasonable as it provides an exit opportunity for the shareholders, especially those holding large blocks of shares, given the low trading liquidity and the absence of competing offers.
Shareholders may have limited opportunities to dispose of their offer shares in the open market, said UOBKH.
On Aug 6, OEB announced that Chai had entered into a sale and purchase agreement with five parties to buy a 62.37% stake in the group for RM45.37 million.
This triggered a mandatory takeover offer, which means that Chai has to acquire all the remaining shares not held by him, although he intends to maintain OEB’s listing status on the bourse.
The offer caused a surge in OEB’s share price to an all-time closing high of 85.5 sen on Aug 12.
At noon break today, OEB shares were unchanged at 70.5 sen, bringing a market capitalisation of RM170.97 million. A total of 38,300 shares were traded.
Read also: Oversea receives takeover offer from Anzo MD Chai at 30 sen per share
Chai is no stranger to the local corporate scene, with his entry into several companies in the past hogging the limelight, including XOX Bhd, Astral Supreme Bhd, Vizione Holdings Bhd and M3 Technologies (Asia) Bhd. He is the son of Sabah timber tycoon Tan Sri Chai Kin Kong. It will be interesting to see what made Chai jump onto the F
interesting :) Subject: PROPOSED ACQUISITION OF LAND, BUILDINGS, MACHINERIES, EQUIPMENT AND MOTOR VEHICLE ("ASSETS") ("PROPOSED ACQUISITION OF ASSETS") 1) It was disclosed that your Company has yet to conduct a market valuation on the Assets and is in the midst of examining the production capacity of the Assets. Given the above, please provide the basis and justification on how you can derive at the purchase consideration of RM55 million with certainty. The basis to derive at the purchase consideration of RM55 million was based on the following: i) Primary on Vendors’ representations that all production facilities are readily to be mobilised to produce RM100 million pieces of medical/nitrile gloves per month and the location of the industrial property. ii) The outlook and prospects of the glove industry. Demand for medical gloves has reached unprecedented levels as the pandemic has spread globally. In view of the acute surge in demand, the gloves market has turned into a seller’s market where sellers of gloves have relatively higher negotiation power in determining pricing as well as allocating capacities. iii) Due to reason (ii) above, the demand for readily available gloves production facility has surged substantially and the scarcity of supplies became a seller market. The Vendor has offered RM55 million as selling price. By signing the Term Sheet with the Vendor, Anzo intend to lock in the opportunity of getting a readily available gloves production facility. However, the group would still engage the necessary consultants to do the due diligence and conduct all the verifications prior to finalising the Proposed Acquisitions of Assets. 2) As your Company is still in the midst of studying the cost required to reinstate the production line, please clarify whether there will be any adjustment to be made to the purchase consideration of RM55 million based on the outcome of relevant due diligence and assessment by consultants to be completed within the 14 business days. Subject to further findings and outcomes of the relevant due diligence and assessment, there could be a further negotiation of the purchase consideration should any of the outcome deviate from the Vendors’ initial representations. 3) Given that the Vendor is the beneficial owner of the Assets, please confirm whether the ownership of the Assets have been registered under the name of the Vendor and the date of completion of such registration. The assets are yet to be registered under the name of the Vendor. The date of completion and registration will be ascertained by the due diligence to be conducted. 4) It was represented that the business to be carried out on the Assets is subject to the approvals from Department of Environment, Majlis Tempatan Manjung, Department of Occupational Safety
CSTME RESOURCES SDN BHD 08-Jul-2020 Notice of Person Ceasing 52,200,000 0.000 View Detail MISS CHU BOON LIN 08-Jul-2020 Notice of Person Ceasing 52,200,000 0.000 View Detail MR ALBERT TAN YEAN HEONG 08-Jul-2020 Notice of Person Ceasing 52,200,000 0.000 View Detail MR KEVIN TAN YEAN KHIM 08-Jul-2020 Notice of Person Ceasing 52,200,000 0.000 View Detail CSTME RESOURCES SDN. BHD. 07-Jul-2020 Disposed 40,920,000 0.000 View Detail CSTME RESOURCES SDN. BHD. 07-Jul-2020 Disposed 22,000,000 0.000 View Detail MISS CHU BOON LIN 07-Jul-2020 Disposed 40,920,000 0.000 View Detail MISS CHU BOON LIN 07-Jul-2020 Disposed 22,000,000 0.000 View Detail MR ALBERT TAN YEAN HEONG 07-Jul-2020 Disposed 40,920,000 0.000 View Detail MR ALBERT TAN YEAN HEONG 07-Jul-2020 Disposed 22,000,000 0.000 View Detail MR KEVIN TAN YEAN KHIM 07-Jul-2020 Disposed 40,920,000 0.000 View Detail MR KEVIN TAN YEAN KHIM 07-Jul-2020 Disposed 22,000,000 0.000 View Detail
Bloomberg Sept 8 2020 reported by James Altwood Chile's copper mines are struggling to maintain normal production due to COVID19 may give more legs to a rally that's already taken prices to 2-year highs . The inbalance between the limited supply of overseas copper and healthy demand from China's refineries may continue in second half as COVID19 disrupts mining operation in South America . Bloomberg intelligence analyst Yi Zhu
NST reported by Ajisy Yusof According to MTIB , Malaysia has 4000 mills 83% in Peninsular and 17% in Sabah and Sarawak . Malaysia's timber export and timber related products is expected to hit RM 25 billion in 2020
same as esos :) Additional Listing Announcement /Subdivision of Shares
ANZO HOLDINGS BERHAD
1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?NoTypes of corporate proposalESOSDetails of corporate proposalShare Issuance SchemeNo. of shares issued under this corporate proposal500,000Issue price per share ($$)Malaysian Ringgit (MYR) 0.1000Par Value($$) (if applicable)Malaysian Ringgit (MYR) 0.000
Latest issued share capital after the above corporate proposal in the following
Units892,430,960Issued Share Capital ($$)Malaysian Ringgit (MYR) 139,268,108.700Listing Date29 Jul 2020
Announcement Info
Company NameANZO HOLDINGS BERHADStock NameANZODate Announced28 Jul 2020CategoryAdditional Listing Announcement /Subdivision of SharesReference NumberALA-28072020-00001
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....
vincent555
187 posts
Posted by vincent555 > 2020-08-29 17:30 | Report Abuse
Sell con man Anzo
Buy genuine Hlt