Posted by Opportunate > 2024-06-27 20:21 | Report Abuse

If this is true , Surin will be very eager to take the company private to benefit from it.

Posted by Opportunate > 2024-06-27 20:34 | Report Abuse

Instead of selling the land , this project will generate consistence cash flow to the company.

Posted by Kaya Toast > 2024-06-28 12:56 | Report Abuse

Maybank IB jz released independent advice report for Ranhill takeover at RM.0995 as not fair and not reasonable.. Nothing was mentioned on assets/future cashflow; solely based on historical liquidity/ price action.
Based on above, UOBKH could easily derive the basis for MPHB as fair and reasonable due to low liquidity in past 10 yrs but MPHB Board decided to seek extension.. I wanted to believe the Board members are trying to negotiate a better price.

Posted by speakup > 2024-06-28 13:36 | Report Abuse

Ranhill NTA is only 61¢. IMO takeover is Fair and Reasonable.

Posted by Johnzhang > 2024-06-28 15:17 | Report Abuse

@kayaToast, irrespective of what the Independent advisor said about MPHB capital , ultimately the vote to be casted decides the fate. In this regards, the dissatisfied minority must take the trouble to register and vote during EGM.

Posted by Johnzhang > 2024-06-28 16:33 | Report Abuse

It appear to me there is quite some room for Independent Advisor (IA) to argue if the SCR is fair or reasonable taking into consideration of wide ranging issues, historical and prospective. There is no one standard.
For examples,
IA used purely RNAV (real net asset value) in assessing the fairness in the case of Bplant
IA used purely DCF method in assessing the fairness in the case of IJM Plant.
IA used SOPV which make up of a combination NA and DCF methods for different segment in assessing the fairness in the case of Ranhill.

Even for reasonableness, IA may also take into account other factors including prospective factors in addition to historical share price and trading volume .

It's up to what to be achieved.

This is just my observation in a few previous takeover offer I have gone thru'.

Posted by Johnzhang > 2024-06-28 16:52 | Report Abuse

GHL System IA report also out today.
In assessing the fairness of the Offer, Affin Hwang IB has adopted the EV/EBITDA method as the most appropriate valuation method to evaluate the fairness of the Offer. Based on the EV/EBITDA method, the estimated equity value of GHL is approximately RM966.61 million which translates to approximately RM0.85 per GHL Share. The Offer Price of RM1.08 is higher than the implied value per GHL Share using EV/EBITDA method representing a premium of RM0.23 or 27.06% to the estimated equity value per GHL Share of RM0.85. In addition, based on the Offer Price and NA per GHL Share of RM0.48 from the audited consolidated financial statements of GHL for the FYE 31 December 2023, the implied PBR of approximately 2.25 times indicates that the Offer Price is 2.25 times higher than the NA per GHL Share.

Posted by dompeilee > 2024-06-29 08:00 | Report Abuse

If anything, the Great Eastern saga has probably emboldened surin, who's probably thinking : "If a deep-pocketed bank can be mean-spirited & cheap, so can I!"

Posted by Endgame > 2024-07-04 11:51 | Report Abuse

+0.15, 1.85 heard is new offer, who can chk

Posted by speakup > 2024-07-04 11:58 | Report Abuse

I heard 2.30

Posted by goh555 > 2024-07-05 10:22 | Report Abuse

Yes I also heard +0.15.don't know true or no

Posted by goh555 > 2024-07-05 12:02 | Report Abuse

😎OK noted

Posted by Endgame > 2024-07-05 12:58 | Report Abuse

2.3 not possible, the best is 1.85, cannot more already.

Posted by speakup > 2024-07-05 13:02 | Report Abuse

Heard only

Posted by Johnzhang > 2024-07-05 16:17 | Report Abuse

No point to speculate what’s the revised offer , if there is any . For anyone who is unhappy about $1.70 please write to the independent directors of mphb capital on what’s your desire price now. Contact details in the Annual Report.
My group is looking at $2.40. You are free to decide your number.
At $2.40, trust me that it is still very good and irresistible to SU!
The most important thing now is SU must see and feel the minorities unhappiness.

Posted by dompeilee > 2024-07-05 16:37 | Report Abuse

If he can get away with paying less why should he pay more?

Posted by Johnzhang > 2024-07-05 17:02 | Report Abuse

Don’t have to be so sure he can get away this round !

Posted by TheContrarian > 2024-07-05 22:25 | Report Abuse

Dear John, how much cash balance in MPHBCap? SCR is paid out from the Company's cash balance, not a single sen from Surin. If the amount exceeds the Company's cash balance and the proceeds from the sale of investments it wouldn't get past the Board of Directors.

Posted by Johnzhang > 2024-07-05 22:46 | Report Abuse

@TheContrarian, as at 31/3/2024 cash +near cash assets amount to about $780 million. Zero borrowing.
In the offer’s notice , it is stated the the SCR is funded by internal resources and borrowing.
Mphb capital has zero borrowing can take some bank loans to pay off the entitled shareholders if internal funding fall short.

Posted by ajkeat > 2024-07-06 09:14 | Report Abuse

I have spoken to the senior management of my investment bank where I own 1 mil share, they provide me with the following information base on their opinion.
1) if a privatization dead line is extented,the major shareholder may have inadequate share holding or lack confidence the exercise can be successful.2)the advisor who they appointed may have analized and viewed that the offer price is not practical and realistic thus resulted in the extention ,they may have to revalue and provide a more realistic offer.I agreed fully on John's view that we should not speculate afterall it only left with another 7 working days for the result,besides,base on yesterday volume and 3 cts up.I believe someone is collecting for a short quick gain.well,lets hope for the best,some how or rather,we are ensure of 1.70 if things are not favourable

Posted by goh555 > 2024-07-06 12:31 | Report Abuse

Ok what. ! Can sure got rm0.10 profit

Posted by Endgame > 2024-07-06 12:53 | Report Abuse

1.85, this is quite confirmed and final. With this price, the rejection rate confirm not more than 10% as this already pre-arranged and agreed with the top 5 shareholders excluded Surin and Surin partners. Unless the top 5 U-turn, this should be the next few day's extended conclusion.

Posted by speakup > 2024-07-06 13:42 | Report Abuse

speakup tambahhhhh 1.60 after hearing news 2.30

Posted by speakup > 2024-07-10 19:03 | Report Abuse

No point such article cos price already capped by privatisation

Posted by Opportunate > 2024-07-11 23:30 | Report Abuse

SCR at 1.70. Next tussle , EGM expected in August.

Posted by Opportunate > 2024-07-11 23:47 | Report Abuse

I already provided guideline to those from my group for the assessment and decision

Resolution passed during EGM. 1.70

Resolution rejected during EGM

Offer price raise further ?

SCR call off and stock price might retreat

Posted by Johnzhang > 2024-07-12 09:47 | Report Abuse

My group of friends collectively hold about 27 million shares now will vote against the SCR.
Everyone is free to decide what is best for oneself.

Posted by Endgame > 2024-07-12 13:03 | Report Abuse

Need 17 million more to get 10% rejection rate. Who got?

Posted by goh555 > 2024-07-12 13:25 | Report Abuse

So totally 44mil share only can reject ?

Posted by dompeilee > 2024-07-12 16:26 | Report Abuse

Don't forget the MAA saga where some, led by their ego, bought many lots just to thwart the SCR which was deemed at least 40% underpriced. The dissenters managed to defeat the resolution but it was Pyrrhic victory with the major owner subsequently letting the price drop like hell inflicting major losses on the rebels, one of whom already disappeared from the shareholder register for 3 years & counting.

Posted by Endgame > 2024-07-13 00:02 | Report Abuse

44 mil share = 10% rejection
Therefore it depend on the shareholders names in top 30!

Posted by Johnzhang > 2024-07-13 16:10 | Report Abuse

No need to fear monger every now and then . Those who are fearful of price tumbling in the event of unsuccessful SCR should sell now . Afterall, your opportunity loss is merely 7sen !
Fair enough?

Posted by Johnzhang > 2024-07-13 16:14 | Report Abuse

Endgame, we only need a total of 40 mil shares to block . This is because, only 400 mil shares held by disinterested shareholders entitled to vote .

Posted by Opportunate > 2024-07-13 22:32 | Report Abuse

I'm expecting the SCR will not get through during EGM. If majorshareholders did the same as MWE SCR , need to pre-alert my friends so that they can decide the best alternative for themselves.

Posted by Johnzhang > 2024-07-15 08:45 | Report Abuse

@opportunate, I concur with you . There was about 7 million shares voted against the various resolutions and re-appointment of various directors in recent AGM. We don’t know who they were and they were not part of my group of 27 mil shares . If these 7 mil shares shall vote against this SCR and coupled with a few mil shares collectively hold by few of you may be sufficient to frustrate the SCR.
There are many more silent corporate and individual shareholders out there and some may vote against it too.

Posted by speakup > 2024-07-15 09:50 | Report Abuse

Which ever side want to win, just sapu all the shares from open market up to 1.70

Posted by Endgame > 2024-07-15 21:29 | Report Abuse

44 million for 10% rejection rate to turn down scr
John team 27 mil
Unknown 7 mil
Awaiting 10 mil more

Posted by Aldous47 > 2024-07-17 12:31 | Report Abuse

When exactly will MPHB get privatized ..?

Posted by speakup > 2024-07-18 10:41 | Report Abuse

D day today
And it doesn't look good

Posted by goh555 > 2024-07-18 10:52 | Report Abuse

Ya look no so good with share prices

Posted by goh555 > 2024-07-18 18:30 | Report Abuse

Nothing happened 🤣🤣🤣

Posted by speakup > 2024-07-18 19:47 | Report Abuse

Must be Bad news considering it's delayed

Posted by Johnzhang > 2024-07-18 20:17 | Report Abuse

@speakup, you may have missed the announcement on 11 July .

Posted by goh555 > 2024-07-18 20:22 | Report Abuse

Accept ord ? Waiting egm ?

Posted by speakup > 2024-07-18 21:15 | Report Abuse

oic
didn't see that one

Posted by Endgame > 2024-07-20 16:45 | Report Abuse

Most likely Surin already get the rest of shareholders consent, successful takeover 1.70

Posted by speakup > 2024-07-20 17:08 | Report Abuse

Aduh

Posted by goh555 > 2024-07-21 09:24 | Report Abuse

Rm2.3 gone 😓😓😓

Posted by speakup > 2024-07-21 15:09 | Report Abuse

No need 2.30, give me 2 also happy i

Posted by GeniusInvestor > 2024-07-21 21:48 | Report Abuse

fully support Johnzhang.