I don't understand the hoo-haa at this point. SC may not approve the mandatory takeover exemption request and the deal may just fall through. I personally would want the deal to succeed. If IJM would look beyond the current liabilities of Pestech and have the gumption to just takeover the company, then it's largely a matter of the purchase price for the shareholders to consider.
This huge issue of shares to a particular entity at ridiculously low price is very unfair to the minority shareholders. The new shares should be first offered to the current shareholders to take up such placement at that price instead of simply giving them to a selected entity or person.
Speakup now or forever hold your peace. We wouldn't be here talking about this subject if we hadn't read the news. Betoi tak? Attacking another comment just to prove a point is so childish.
ijm buys at 0.155 got synergy to this counter to get more jobs for the co in future.... normally ppl wouldnt be able fork out rm120mil cash to support the co,. pls think positively.
So basically, SC needs to approve the 0.15 purchase price and agree to ijm request & Pestech shareholders needs to approve the acquisition to. In case one of these does not happen the purchase will not take place? M i right? Anyone knows when pestech shareholders will meet?
@Lobaking, u are wrong. SC already approved the PP before IJM came into the picture. It is not the other way around. And Pestech shareholders do not need to approve the acquisition by IJM
Over the past decade, IJM had an average ROE below 10%. In the mid 2010s, Pestech ROE was greater than 30% but this declined to be below 10% last year. So IJM acquired it when it returns were the same as that of IJM. The question now is that since the acquirer had difficulty getting more than 10% return, will Pestech returns see its glory days again.
The business model they implemented in collaboration with MAHB was destined for failure right from the start. Eventually, the unsustainable approach led to its downfall.
MAHB management should investigate why such critical project was awarded to a company with no proven track record in the first place, why no financial close affirmed by pestech upon commencement, why MAHB not coming in earlier for delay encountered etc etc..too many why's...country image at stake..#MACC
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....
Agjl
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Posted by Agjl > 2023-07-24 23:17 | Report Abuse
But is ijm buying pestech have something to do with the revival of the HSR or the monorail or LRT in Penang?