No hurry to sell. You can pocketed everything include divedend if these is a GO. If no GO, price back to 90 sen or slightly below..and we can wait for next GO.. while waiting for div every 3 months .
Just beware Bplant q2 result will not be good without any disposal gain.
KUALA LUMPUR (June 19): Boustead Plantations Bhd (BPlant) shot up as much as 12 sen or 13.48% to an all-time high of RM1.01 in Monday (June 19) morning trading, after The Edge Malaysia weekly, citing sources, reported that Boustead Holdings Bhd is planning to divest its 57% stake in the plantations group. Year-to-date, it has risen 70.18% or 41.65 sen from 59.35 sen
Meanwhile, 49.31 million shares traded hands, making BPlant the sixth-most traded counter on Monday. The volume of traded shares was almost 25 times its 200-day average of 2.21 million.
According to the weekly magazine, bidders include YTL Group, Wilmar International Ltd, IOI Corp Bhd and Kuala Lumpur Kepong Bhd
In a note on Monday, PublicInvest Bank said it estimated that BPlant could have an enterprise value (EV) of RM2.5 billion to RM3 billion, thanks to its vast tracts of lands in Malaysia, which include strategically located parcels that are suitable for property development.
The Edge Malaysia as business news portal has every right to chase and report business unconfirmed deals. Something is definitely brewing in Boustead Plantations for share price to suddenly shoot up from 64 cents on 08/06/2003 to high of RM1.01 on 19/06/23 in just 7 trading days (It can also be the work of pump and dump syndicate)
BOUSTEAD HOLDINGS BERHAD'S CLARIFICATION ON NEWS ARTICLE TITLED "BOUSTEAD SAID TO BE DISPOSING OF PLANTATION ARM" BY THE EDGE MALAYSIA We refer to the news article titled “Boustead said to be disposing of plantation arm” which appeared in The Edge Malaysia newspaper dated 19 June 2023.
The Company having made due inquiry with its Board of Directors, its major shareholders and all such person reasonably familiar with the matter, the Company wishes to confirm that the Company have not entered into any agreement involving the disposal of its stake in Boustead Plantations Berhad. The Company continues to focus on its business plan and value creation for its stakeholders and investors. This announcement is dated 20 June 2023.
So do the above clarification by Boustead Holding helpful in making Bursa an efficient, vibrant, fair and orderly market?
Why can’t Boustead Holdings Bhd just answer to the point that Boustead Holdings Bhd did or did not invite bidders including YTL Group, Wilmar International Ltd, IOI Corp Bhd and Kuala Lumpur Kepong Bhd to bid for its 57% stake in the Boustead Plantation Bhd?
How this will end and who will end up as the winner and loser is yet to be played out but for sure Bursa as an efficient, vibrant, fair and orderly market is a bridge too far.
If you read in detail, the BOD or major shareholders have not entered into any agreement to dispose the shares. It did not confirm whether they have not invited for bidders. A jump in share price maybe an indication something is brewing!
Calvin, I don't think the call warrant issuer go that far to suppress the price. It cost them a lot to do so. They don't have so much Bplant share in hand !
Calvintaneng wrote : Only reason to suppress bplant mother share is due to one bplant call warrant maturing on Sept 4, 2023
17.5 million shares traded today. About 6.5 mil share traded at $1.20 towards the last 10-15 mins before mkt closed. Sellers have been persistently suppressing price from crossing every resistance level like $1.10 and $1.20. Buyers have been aggressively accumulating. It appears to me that the Sellers are interested parties not letting the share price to "overshoot" before a material announcement. The Buyers are parties privy to a material development.. Just my personal reading. i can be wrong.
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....
ken
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Posted by ken > 2023-08-13 11:00 | Report Abuse
Jun 10, 2021.. ijmplant up from 2.46 to 3.06. The corporate exercise announcement day..