Posted by Kaya Toast > 1 month ago | Report Abuse

It is a blessing in disguise the SCR procedures take long approval. At least 1.60 is locked in for now as compared to the bloodbath everywhere.

Posted by speakup > 1 month ago | Report Abuse

After seeing bloody day today, speakup will accept 1.70

Posted by Endgame > 1 month ago | Report Abuse

Surin happy to see the bloody market as this will influence the decision. Me too will accept 1.70, i hope this month can get, pls act fast.

Posted by GeniusInvestor > 1 month ago | Report Abuse

me too... need more cash to save the market.

Posted by calvintaneng > 1 month ago | Report Abuse

MPHBCAP'S PENGERANG LANDS & TSH RESOURCES' KIPI TANAH KUNING, BULUGAN REGENCY HAVE SIMILARITIES OF GREAT VALUE, Calvin Tan


https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-12-story-h-154309219-MPHBCAP_S_PENGERANG_LANDS_TSH_RESOURCES_KIPI_TANAH_KUNING_BULUGAN_REGEN

Posted by TheContrarian > 1 month ago | Report Abuse

EGM to be held on 6th September.

Posted by speakup > 1 month ago | Report Abuse

last chance to buy get buta 11sen

Posted by AlfI3 > 1 month ago | Report Abuse

Mkt outlook is volatile & uncertained due to geopolitic issues despite a prospective outlook domestically.

Different timing will cause us look at Mphbcap's prosects differently.....hence best of luck to all after patiently holding dis great stocks for such a long period....!

Posted by TheContrarian > 1 month ago | Report Abuse

If you check the sell queue there are a lot of sellers.

Posted by speakup > 1 month ago | Report Abuse

So u prefer 1st selling q at 1.70?

Posted by TheContrarian > 1 month ago | Report Abuse

@speakup, don't ask dumb question.

Posted by ajkeat > 1 month ago | Report Abuse

@johnzhang, I contacted the registra of MPHB,Metra @26983232,spoken to Mr Rajen, he advise that the EGM is a phisical meeting,shareholder with IC showing identity can present for the meeting as they have the name list to identify whereas nominees need to submit the proxy letter to 48th floor menara MPHB 48 hrs before the EGM,to have the
nominees identity verify and confirm,this is the information that I gathered, for your info and others in the forum.

Posted by speakup > 1 month ago | Report Abuse

Please don't fight Surin. Just accept 1.70. Market very bad now. If u reject and privatisation fail, mphbcap maybe crash to rm1. Don't be greedy just for 10% more cos the downside is far more than 10%!

Posted by GeniusInvestor > 1 month ago | Report Abuse

PART C
IAL FROM UOBKH TO THE DISINTERESTED SHAREHOLDERS OF MPHB IN RELATION TO THE PROPOSED SCR
CONCLUSION AND RECOMMENDATION In arriving at our conclusion and recommendation, we have assessed and evaluated the fairness and reasonableness of the Proposed SCR in accordance with paragraphs 1 to 7 under Schedule 2: Part III of the Rules, as disclosed in Section 2 of this Executive Summary. Premised on the above and our overall evaluation of the Proposed SCR in Sections 6 and 7 of this IAL, we are of the opinion that the Proposed SCR is NOT FAIR BUT REASONABLE. Accordingly, we would recommend that you VOTE IN FAVOUR of the Special Resolution pertaining to the Proposed SCR to be tabled at the forthcoming EGM.

Posted by goh555 > 1 month ago | Report Abuse

Hahaha...🤣🤣🤣

Posted by goh555 > 1 month ago | Report Abuse

Not fair but reasonable

Posted by speakup > 1 month ago | Report Abuse

Just vote Yes. Take the money and buy those crashed counters. This mphbcap didn't crash cos privatisation. If privatisation fail, 100% guarantee will crash

Posted by speakup > 1 month ago | Report Abuse

@johnzhang, please accept privatisation offer. market is very bad now. u reject just because nak 30sen more, but if privatisation fail, u rugi 70sen easily
I'm accepting 1.70

Posted by cariyoyo > 1 month ago | Report Abuse

Yes, accept the offer. I have 70,000 shares and will vote for privatisation.

Posted by cariyoyo > 1 month ago | Report Abuse

You just can't stop the rain from falling.

Posted by zhangwin > 1 month ago | Report Abuse

Thinking of buying some shares at 1.59-1.60 today for some short term gain. Hope privatisation is on.

Posted by Johnzhang > 1 month ago | Report Abuse

@ajkeat, thanks for your info about EGM. The minority shareholders who are unable to attend you can appoint proxy to act on your behalf by either sending the hardcopy of the proxy form to the company registered address OR send the proxy form via email to share registrar OR go online via the registrar website to submit. Pls go to the SCR prospectus to find out more. You can print the proxy form from Bursa website.

Posted by Johnzhang > 1 month ago | Report Abuse

Per the independent advisor (AI) report, the realizable net asset value (RNAV) of the company is $2,295,561,000.00 and that is based on properties revaluation on 26/6/24.
You can be sure that the potential RNAV is easily higher the $2,295,561,000 projected by IA. My own estimate is $3,500,000,000 . I shall explain my argument later.

(A) Analysis based on AI’s RNAV of $2,296 mil
No of share paid up (less treasury share) : 702 mil
Acquirer shareholding : 262 mil unit
Minority shareholding : 440 mil unit
Under the proposed SCR, Acquirer intends to distribute the RNAV of $2,296 mil as below :
Minority shareholders: $748 mil
Acquirer : $1,548 mil
------------------------------------------------------
Total $2,296mil
==================================
Minority shareholders get $748 mil/440 mil share = $1.70/share
Acquirer gets $1,548mil/262 mil share = $5.91/share.

OK to accept ?

Posted by Johnzhang > 1 month ago | Report Abuse

(B) Analysis based on potential RNAV of $3,500 mil
Under the proposed SCR, Acquirer intends to distribute the potential RNAV of $3,500 mil as below :
Minority shareholders : $748 mil
Acquirer (3,500-748) $ 2,752 mil
------------------------------------------------------
Total $3,500 mil
==================================
Minority shareholders get $748 mil/440 mil share = $1.70/share
Acquirer gets $2,752mil/262 mil share = $10.50/share.

Posted by Johnzhang > 1 month ago | Report Abuse

Can you fault the minority shareholders to be angry ?
Does the super rich has to take advantage on the poor minorities to this extent ?
Something for the super rich Acquirer to reflect !

Posted by dompeilee > 1 month ago | Report Abuse

I fully support all the dissenters! Myself only hold 3 measly lots unlike all you super wealthy millions-of-shares-holders & already registered to attend & vote via Maybank IB on what is coincidentally an important anniversary for me.

Posted by TheContrarian > 1 month ago | Report Abuse

When you buy shares of a public listed company you are not buying a share of the business. You are merely investing your money.

Posted by Sslee > 1 month ago | Report Abuse

I am suprised a controlling shareholder holding less than 50% (262/702= 37.3%) can just offer SCR to take over the company?

Posted by Sslee > 1 month ago | Report Abuse

2. HSBC NOMINEES (ASING) SDN BHD 36,953,650 5.26
Exempt An For Credit Suisse (SG BR-TST-Asing)
3. CITIGROUP NOMINEES (ASING) SDN BHD 35,962,967 5.12
Exempt An For OCBC Securities Private Limited (Client A/C-NR)

Are second and third substantial shareholders agreed to such deal?

Posted by TheContrarian > 1 month ago | Report Abuse

@MrSslee, yes it's possible. Happens often. This is because controlling shareholders usually have friendly parties owning substantial amounts.

Posted by Johnzhang > 1 month ago | Report Abuse

@TheContrarian, Sorry that I don't quite get what you are trying to mean.
When we acquired the shares, we acquired them on the basis of our share rank pari-passu to the same class of share held by SU. That means, our shares have equal rights to dividend, voting rights, liquidation of assets and same offer price in the event of a takeover offer especially when the takeover offer is by an external party.
The ongoing SCR is a takeover offer , except that it is offered by SU, a substantial shareholders and that doesn't change the pari-passu principle of equity share investment.

We acknowledged that SU needs advantage or incentive to make takeover offer. But the advantage or incentive can not be to such extent that thousands of minorities have to be severely deprived of a fairer return.
-------------------------------------
TheContrarian wrote :
When you buy shares of a public listed company you are not buying a share of the business. You are merely investing your money.

Posted by Sslee > 1 month ago | Report Abuse

As a minority shareholders you do not have a say on how the business is run nor how much dividend to give to the shareholders.

You just invest you money on the company shares and hoping for shares price appreciation and receive your dividend or sold the shares back to Mr. Market to realise your capital gain/loss.

Posted by Sslee > 1 month ago | Report Abuse

Mr.Market is unpredictable as he has his own way/rule/sentiment to offer you the price to buy your shares or sold his shares to you.

If only Mr. Market each time offer to buy your shares at potential RNAV then investing will be very much easy.

When will Mr.Market offer to buy my Insas at a fair price?

Note:Insas NTA RM 3.63 is still the most undervalued stock in Bursa.
Cash alone already billion and still holding 515,008,575 inari share

Posted by TheContrarian > 1 month ago | Report Abuse

@Johnzhang, Mr Sslee has answered it very well.

Posted by TheContrarian > 1 month ago | Report Abuse

Posted by Sslee > 2 hours ago | Report Abuse

2. HSBC NOMINEES (ASING) SDN BHD 36,953,650 5.26
Exempt An For Credit Suisse (SG BR-TST-Asing)
3. CITIGROUP NOMINEES (ASING) SDN BHD 35,962,967 5.12
Exempt An For OCBC Securities Private Limited (Client A/C-NR)

Are second and third substantial shareholders agreed to such deal?

Usually shareholders who hide behind foreign nominees are parties friendly to the controlling shareholders.

Posted by dompeilee > 1 month ago | Report Abuse

Local mkt is so shunned that foreign holders don't bother even with major large-caps as I found out the hard way in Genting circa Aug 2019. Thus, even with the weak yen & risk of major earthquakes, I feel better putting my $ in the Tokyo stockmarket coz foreign activism there is alive & increasing!

Posted by Fabien _the efficient capital allocator > 1 month ago | Report Abuse

This is outright robbery. You are looking at a further 92% upside risk.

Posted by speakup > 1 month ago | Report Abuse

Just take 1.70

Posted by goh555 > 1 month ago | Report Abuse

Just take 1.7 +1

Posted by Fabien _the efficient capital allocator > 1 month ago | Report Abuse

No takers at 1.70. People selling at 1.59.

Posted by goh555 > 1 month ago | Report Abuse

Will no approve ?

Posted by Johnzhang > 1 month ago | Report Abuse

@speakup, since you hold very bearish view of the stock market , it is better for you sell now and forgo the 9sen opportunity gain . If the deal fails, your opportunity loss could swell to 50sen as you already said it would .
We have gain support from another about 3 million share to vote against the SCR . Your risk is heightened now .

Posted by GeniusInvestor > 1 month ago | Report Abuse

Hi Johnzhang, How confident are you that Tan Sri will offer a higher price in a short time if the SCR is fail? Also Acquirer gets $1,548mil/262 mil share = $5.91/share. I never saw this kind of method to define how much Tan sri can gain. Got any reference to refer?

Posted by Sslee > 1 month ago | Report Abuse

If anyone interest to borrow a billion to take over Insas and I can say for sure you are going to immediately get a billion to pay back your borrowing and have another 2 billlion+ assets that included and not limited to 515,008,575 inari share

Any taker?

Posted by GeniusInvestor > 1 month ago | Report Abuse

For those who want to reject the SCR. They should buy more MPHB share in the market now to secure a 10% rejection. But what I have seen since the SCR announcement, MPHB trading volume is not high at all. RM1.58-1.69 should be a good price for those who want to negotiate with Big Boss for the offer price RM5.91-RM10.50.

Posted by Johnzhang > 1 month ago | Report Abuse

@Genius, you have already made up your mind to sell your shares to ‘save the market’ about 2 weeks ago . Just move on and don’t look back . Invest your money wisely.

Posted by Johnzhang > 1 month ago | Report Abuse

@Sslee , you have a billion to lend to us ?
Hehehe….😂

Sslee wrote :
If anyone interest to borrow a billion to take over Insas and I can say for sure you are going to immediately get a billion to pay back your borrowing and have another 2 billlion+ assets that included and not limited to 515,008,575 inari share

Any taker?

Posted by Sslee > 1 month ago | Report Abuse

I am just trying to make a point that if controlling shareholder for whatever reason only knew to him do not wants to unlock and share the huge money hording in the listed company with all the shareholders then as minority shareholders you can't to much to unlock the value.

Posted by Johnzhang > 1 month ago | Report Abuse

For most part of last 5 years Insas stayed below 90sen . It dived to about 40sen during Covid panic it is now about $1.03. If there is a takeover offer at $1.15 , will you just accept the offer and blame your luck ?

Posted by Sslee > 1 month ago | Report Abuse

Insas shareholders can only look at how much book net worth growth but can't unlock its value into the share price


30/06/23 30/06/22 30/06/21 30/06/20 30/06/19 30/06/18 30/06/17 30/06/16 30/06/15 30/06/14 CAGR
Net Worth 2,340,464 2,194,599 1,982,432 1,750,354 1,737,078 1,650,887 1,551,436 1,352,726 1,267,337 1,198,048 7.72%
NOSH 663,021 663,021 663,021 663,013 663,007 663,007 663,007 663,101 663,527 665,582 -0.04%