GDB Holdings Bhd (Dec 16, 53.5 sen) Maintain buy with an unchanged target price of 69 sen: GDB Holdings Bhd proposes the transfer of its listing from Bursa Malaysia’s ACE Market to the Main Market.
GDB has met the requirements for the proposed transfer, including profit requirements, financial position and liquidity, public shareholding spread and the bumiputera equity requirement.
The proposed transfer requires approvals from the Securities Commission Malaysia, Bursa Securities, and its shareholders in an extraordinary general meeting later. The exercise is expected to be completed by the first half of 2020 (1H20).
The proposed transfer is unsurprising as in our report dated Sept 27, 2019, we highlighted its prospect of the transfer of listing to the main board.
The transfer will better reflect its existing scale of operations, and enhance the company’s credibility and reputation, in turn improving GDB’s clients’, subcontractors’, suppliers’ and employees’ confidence.
The proposed transfer listing will also gain greater recognition and acceptance among investors, including institutional investors, and boost shareholders’ confidence. — TA Securities, Dec 16
Target. 54cent on 15th Nov 201 before including 2 more project awarded later, 68Mil autohaus Hapseng at Shah Alam & 213 Mil hotel project at Sabah own by Hapseng.
Proposed Transfer of Listing to Main Board GDB proposes the transfer of listing of the company from the ACE Market to Main Market of Bursa Malaysia. GDB has met the requirements for the proposed transfer, which include profit requirements, financial position and liquidity, public shareholding spread and Bumiputera equity requirement. The proposed transfer requires approvals from the Securities Commission Malaysia, Bursa Securities, and its shareholders in an EGM to be convened later. The exercise is expected to be completed by 1H20. Our View The proposed transfer does not come as a surprise as we had highlighted in our report dated 27 September 2019 on its prospect of transfer of listing to Main Board. The transfer will give a better reflection of its existing scale of operations, and enhance the company’s credibility and reputation, which in turn improves the confidence of GDB’s clients, sub-contractors, suppliers and employees. For the investment community, the proposed transfer listing will gain greater recognition and acceptance among investors, including institutional investors, as well as boosting the confidence of its shareholders. Impact Maintain FY19 to FY21 earnings forecasts. Valuation No change to our target price of RM0.69, based on unchanged 12x CY20 earnings. Maintain Buy.
Just a. 0.349% disposal, bal 200000 unit or 0.32% left. Tiny holding.
Circumstances by reason of which change has occurred Disposal of shares via open market by Mr. Cheah Jun Kai and his wife Nature of interest Direct Interest Total no of securities after change Direct (units) 200,000 Direct (%) 0.032 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0.000 Date of notice 18/12/2019 Date notice received by Listed Issuer 18/12/2019
***Remarks :*** 1. The total percentage of ordinary shares disposed by Mr. Cheah Jun Kai and his wife was 0.291% and 0.058% respectively.
2. This announcement also serves as a notification pursuant to Rule 14.09(a) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad on the dealings in listed securities outside closed period.
Callmejholow, do you know there is a joke Nowaday, The son has a rich & and hardworking father, so they can spend like nobody , but the father didn't have a rich father, so they have to be thrifty, that the different.
Piling co, Big bro Ptaras RM3.12,PE 17. 93 with DY of 6.41 , Econpile, PE 52.44, DY 0.66, and just sue by Maju holding s/b for failing to completepiling work worth 280Mil, ikhmas PE - 0.36, loss making, sueing ASM Dev s/b for non payment of 2.94 Mil work done.
With GDB 60Cents, quite good finishing work record & good customer, PE14. 12, DY 3.33, still hv room to grow, if PE 15 it worth 69C, if PE 18 like Ptaras, it worth 83C.
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....
slts
2,236 posts
Posted by slts > 2019-12-17 09:11 | Report Abuse
goreng kaki run already
look like small fishes holding baby now