Forum : Stock: [MALAKOF]: MALAKOFF CORPORATION BERHAD

26,432 posts

Posted by Good123 > 2019-12-17 13:45 | Report Abuse

windfall coming soon :)

Credit Suisse is of the view that Tan Sri Syed Mohktar Albukhary’s indirectly majority-owned Malakoff is another good privatisation candidate.
“The stock has more than halved [in value] since its IPO and now trades at a dividend yield of 6% and free cash flow yield of 22%.
“It has been aggressively buying back shares, having accumulated more than 2% of its share capital so far. We estimate that a debt-funded privatisation could unlock 67.2 sen in value for MMC Corp [which has a 38% stake in Malakoff] or equivalent to 68% of its share price today,” Credit Suisse says in a Nov 18 report.

26,432 posts

Posted by Good123 > 2019-12-17 13:46 | Report Abuse

Malakoff may rebound further after it tested the MYR0.86 support in its latest session. Last Friday’s white candle sent the stock to its 1-week high, thereby enhancing the bullish sentiment. A positive bias may emerge above the MYR0.88 level, with an exit set below the MYR0.86 threshold. Towards the upside, the immediate resistance is at the MYR0.925 mark. This is followed by the MYR0.95 level.
Source: RHB Securities Research - 2 Dec 2019

26,432 posts

Posted by Good123 > 2019-12-17 13:48 | Report Abuse

KUALA LUMPUR: Malakoff Corp Bhd has cleared the key hurdle to buy Alam Flora Sdn Bhd from DRB-HICOM Bhd for RM944.61 million.
Malakoff shareholders yesterday approved the acquisition that will hasten the group’s expansion into environmental-related business and push into the renewable energy sector.
"We see opportunities between Malakoff and Alam Flora to develop waste-to-energy (WTE) projects," Malakoff chairman Datuk Hasni Harun said in a statement today.
He added that independent power producer Malakoff's latest move was in line with Malaysia’s aspiration to increase the share of renewable energy mix from the current two per cent to 20 per cent, by 2025.
Hasni explained that with the prospects of economic development and population growth, Malaysia would need to look beyond waste disposal and landfills towards a more sustainable waste management especially through WTE projects.
Alam Flora holds a 22-year concession, ending August 2033, to collect garbage and public area cleansing in Pahang, Kuala Lumpur and Putrajaya.
Through its unit DRB-HICOM Environmental Services Sdn Bhd, Alam Flora operates eight landfills, one transfer station, a leachate treatment plant and two incinerator plants.

8,271 posts

Posted by Victor Yong > 2019-12-17 13:51 | Report Abuse

follow ASB, can make money :)

AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 06-Dec-2019 Acquired 100,000 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 05-Dec-2019 Acquired 532,900 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 04-Dec-2019 Acquired 211,400 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 03-Dec-2019 Acquired 1,463,900 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 29-Nov-2019 Acquired 1,372,200 0.000 View Detail

8,271 posts

Posted by Victor Yong > 2019-12-17 13:55 | Report Abuse

Big event coming next month, Malakof will acquire a cash cow :)

On 1 August 2018, HICOM Holdings Berhad (“HHB”), a direct wholly-owned subsidiary
company of the Group, entered into a conditional share sale agreement (“SSA”) with
Tunas Pancar Sdn. Bhd. (“TPSB”), a wholly-owned subsidiary company of Malakoff
Corporation Berhad, for the proposed disposal of HHB’s entire equity interest of
97.37% in Alam Flora Sdn. Bhd. The proposed disposal had been approved by DRBHICOM Berhad shareholders at the EGM held on 15 October 2018. On 31 January
2019, HHB and TPSB had mutually agreed to extend the Conditions Precedent (“CP”)
period until 31 July 2019 for the fulfilment of the other CPs as set out in the SSA. Both
parties had on 29 July 2019 agreed for a further extension period until 31 January
2020

8,271 posts

Posted by Victor Yong > 2019-12-17 13:56 | Report Abuse

next year, malakof will show higher revenue and profit by including Alam Flora in its accounts :)

8,271 posts

Posted by Victor Yong > 2019-12-17 14:00 | Report Abuse

Gain on disposal, more than RM500mil+, special dividend next year? ASB is adding the share continuously also :)

https://themalaysianreserve.com/2019/10/30/malakoff-to-sell-aussie-wind-farm-project-for-rm1b/

8,271 posts

Posted by Victor Yong > 2019-12-17 14:04 | Report Abuse

Most recent direct biz transaction at 88sen for 25mil shares :)

History
Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks
26/11/2019 00:00:00 0.8800 - 25.000m 25.000m 22.000m 22.000m 0.8800 0.5000 -

26,432 posts

Posted by Good123 > 2019-12-17 14:06 | Report Abuse

yalah, best buy now, IPO price rm1.80 in 2015

8,271 posts

Posted by Victor Yong > 2019-12-17 14:08 | Report Abuse

agreed, with some many corporate exercises, maybe, privatisation as reported, no wonder ASB continues to sapu more and more shares :) Now, at 86sen, less than 50% of the IPO price at RM1.80 indeed. :)

IPO Info
Key Data:
General Retail Institutional
Offer Period
Opening 17/04/2015 - -
Closing 17/04/2015 - -
Price
Issue Price 1.80 - -
Par Value - - -
Units 5,000,000,000 - -
No of Shares
Public Issue 1,000,000,000 - -
Offer for Sale 521,740,000 - -
Private Placement - - -
Time Table
Allotment Date 13/05/2015 - -
Listing Date 15/05/2015 - -
Issuing House MIH-565 - -
ISIN Code MYL5264OO006 - -
Prospectus:
INITIAL PUBLIC OFFERING ("IPO") OF UP TO 1,521,740,000 ORDINARY SHARES OF RM0.10 EACH IN MALAKOFF CORPORATION BERHAD ("MALAKOFF") ("IPO SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 5,000,000,000 ORDINARY SHARES OF RM0.10 EACH IN MALAKOFF ("SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 521,740,000 EXISTING SHARES AND A PUBLIC ISSUE OF 1,000,000,000 NEW SHARES ("ISSUE SHARES") INVOLVING:

(I) INSTITUTIONAL OFFERING OF UP TO 1,279,240,000 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"); AND

(II) RETAIL OFFERING OF 242,500,000 ISSUE SHARES TO THE DIRECTORS OF MALAKOFF, THE ELIGIBLE EMPLOYEES OF MALAKOFF AND ITS SUBSIDIARIES ("MALAKOFF GROUP"), PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE MALAKOFF GROUP THE DIRECTORS AND ELIGIBLE EMPLOYEES OF MMC CORPORATION BERHAD ("MMC"), THE ENTITLED SHAREHOLDERS OF MMC
AND THE MALAYSIAN PUBLIC, AT THE RETAIL PRICE OF RM1.80 PER SHARE ("RETAIL PRICE"),
PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE (AS DEFINED HEREIN) IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE,

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND THE OVER-ALLOTMENT OPTION (AS DEFINED HEREIN). THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF:

(I) THE RETAIL PRICE OF RM1.80 PER ISSUE SHARE; OR

(II) THE INSTITUTIONAL PRICE.

8,271 posts

Posted by Victor Yong > 2019-12-17 14:10 | Report Abuse

Pandailah macam ni :)

Malakoff CEO Datuk Ahmad Fuaad Mohd Kenali said the deal provides an opportunity for Malakoff to unlock the value of its investment in Macarthur WF.

“The group will continue to be on the lookout for potential power and water assets within and outside the country,” he said in a statement.

“Based on the purchase price, the proposed disposal will give rise to an estimated net gain on disposal of RM546 million,” the independent power producer stated.

The proposed disposal is expected to be completed by the first quarter of 2020 (1Q20), Malakoff added.

26,432 posts

Posted by Good123 > 2019-12-17 14:20 | Report Abuse

I think asb would have talked to the management regarding the direction, etc. otherwise, asb wont buy continuously. need to pay dividend to asb ac holders :p

8,271 posts

Posted by Victor Yong > 2019-12-17 14:47 | Report Abuse

ASB , a substantial shareholder, holds 6%+ in malakof already :)

5264 MALAKOF MALAKOFF CORPORATION BERHAD
Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

Particulars of Shareholder 36

Name : AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA
NRIC/Passport No./Company No. : 766894-T
Nationality/Country of Incorporation : Malaysia

Address:
Tingkat 4, Balai PNB 201-A, Jalan Tun Razak 50400 Kuala Lumpur WilayahPersekutuan Malaysia

Descriptions (Class and Nominal Value):
Ordinary shares

Name and Address of Registered Holder:
You are advised to read the entire contents of the announcement orattachment.To read the entire contents of the announcement or attachment,pleaseaccess the Bursa website at http://www.bursamalaysia.com

Details of Changes

Date of Notice : 06/12/2019

Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 06/12/2019 Acquired 100,000 -

Circumstances by reason of which change has occurred:
Purchase of shares

Nature of Interest:
Direct Interest

Consideration:

No of Shares Held After Changes:
Direct : 311,746,100 shares (6.3790%)
Indirect/Deemed Interest : 0 shares (0.0000%)
Total : 311,746,100 shares

Remarks:
You are advised to read the entire contents of the announcement or attachment.To read the entire contents of the announcement or attachment, please accessthe Bursa website at http://www.bursamalaysia.com

Submitted By:

10/12/2019 07:00 AM

8,271 posts

Posted by Victor Yong > 2019-12-17 14:48 | Report Abuse

Our call. Downgrade to HOLD with unchanged RM0.97 DCF-derived TP; its share price rose by over 7% after announcing the MacArthur Wind Farm disposal. This strengthens its balance sheet while yields at current levels are attractive at over 5.5%. Buy on dips.
Source: BIMB Securities Research - 21 Nov 2019

8,271 posts

Posted by Victor Yong > 2019-12-17 14:49 | Report Abuse

Price Target
Date Open Price Target Price Upside/Downside Price Call Source
21/11/2019 0.90 0.93 +0.03 (3.33%) BUY TA
21/11/2019 0.90 1.02 +0.12 (13.33%) TRADING BUY PUBLIC BANK
21/11/2019 0.90 1.00 +0.10 (11.11%) BUY KENANGA
21/11/2019 0.90 0.97 +0.07 (7.78%) HOLD BIMB
21/11/2019 0.90 1.00 +0.10 (11.11%) BUY AmInvest

26,432 posts

Posted by Good123 > 2019-12-17 15:08 | Report Abuse

Ada xmas gift atau angpow before or on 31.1.2020

On 1 August 2018, HICOM Holdings Berhad (“HHB”), a direct wholly-owned subsidiary
company of the Group, entered into a conditional share sale agreement (“SSA”) with
Tunas Pancar Sdn. Bhd. (“TPSB”), a wholly-owned subsidiary company of Malakoff
Corporation Berhad, for the proposed disposal of HHB’s entire equity interest of
97.37% in Alam Flora Sdn. Bhd. The proposed disposal had been approved by DRBHICOM Berhad shareholders at the EGM held on 15 October 2018. On 31 January
2019, HHB and TPSB had mutually agreed to extend the Conditions Precedent (“CP”)
period until 31 July 2019 for the fulfilment of the other CPs as set out in the SSA. Both
parties had on 29 July 2019 agreed for a further extension period until 31 January
2020

26,432 posts

Posted by Good123 > 2019-12-17 15:14 | Report Abuse

dividend yield about 7%, twice the FD rate :)

26,432 posts

Posted by Good123 > 2019-12-17 15:21 | Report Abuse

Malakoff Corp Bhd, Tabung Haji already transferring its shares to Urusharta Jamaah Sdn Bhd as part of the restructuring exercise. IPO price was rm1.80 in 2015. next year, can recover, hopefully

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