KAF-SEAGROATT & CAMPBELL BHD

KLSE (MYR): KAF (5096)

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nice1

KA need 90% to delist KAF

8.9.2015

OSK ended up with 89.36% of PJD, hence falling short of the required acceptance level to take the company off Bursa Malaysia.

OSK had 31.03% when it made the offer for PJD’s shares and warrants at RM1.56 and 60 sen each, respectively.

Under the takeover regulations, an offeror needs an acceptance of 90% of the shares that it does not own at the point of making the offer to compulsorily acquire the remaining equity in the company.

For OSK to reach this level, it needed about 93% of total shareholders’ acceptance.

PJD’s public shareholding spread based on the valid acceptances verified and received by the registrar for the takeover offer by OSK yesterday was 10.62%.

However, PJD did not comply with the public shareholding spread requirement of the Main Market listing requirements, which states that at least 25% of its total listed shares (excluding treasury shares) must be owned by public shareholders.

MIDF Research in its recent report opined that the PJD acquisition and the takeover offer were beneficial to OSK and in line with its business strategy to diversify into property development, construction, manufacturing and the trading of cables and building materials, as well as the hotel and leisure business.

MIDF said based on the offer document, it was not the intention of OSK to privatise PJD, unless sufficient valid acceptances were obtained to invoke the compulsory acquisitions as set out in the document.

The trading of OSK Property Holdings Bhd (OSK Prop) will be suspended effective 9am on Oct 22, as its public shareholding spread fell below the 25% requirement set by Bursa Securities.

OSK Prop declared its suspension yesterday in a filing with the stock exchange after its public shareholding only stood at 5.92%.

The group must ensure that at least 25% of its shares are in the hands of public shareholders for Bursa Securities to lift the suspension.

The buyout deals of OSK Prop and PJD had been declared by OSK Holdings chief executive officer and group managing director Tan Sri Ong Leong Huat (pic) last October, as part of his grand plan of creating a mega property company.

It was reported that the offer prices for OSK Prop and PJD shares were 11.9% and 10.1% below what they were trading at.

The buyout price for PJD shares was also at a significant 37% discount to its net asset value per share. The proposed buyout, in which minorities are being offered shares in OSK Holdings or a cash option, naturally sent the shares of OSK Prop and PJD falling, after a notable run-up just weeks before.

If the merger materialises, then the mega property company would have an asset size of RM6bil, shareholders’ funds of RM4.9bil, and a recurring net income of some RM386mil, which is expected to grow to RM410mil in financial year 2015.

2015-09-09 06:47

nice1

hope kaf can be privatized at higher price

2015-09-09 08:56

nice1

hello guys, are u all still holding the shares
or already sold during the market turmoil?
just kpc

2015-09-22 12:36

kakashit

yes, im still holding, why:

it has a peace of precious land at Jln Kiapeng, bought in decades ago

it has 1+1 broker license, which deemed to hv infinite useful life.

Khatijah is old enough, need to dabao the biz and sell away.

Overseas brokers are seeking to buyout local brokers to expand their biz in overseas.

Why Malaysia? Coz MY has the most well-established financial market in the emerging market,

So what do u nid to do, hold tight, seat down and sip a cup of coffee

2015-10-17 11:37

nice1

yeah, good, I am still holding the shares
hoping for higher takeover price

I am sure they will privatize the company, its a matter of pricing
KAF Investment already sold their fund management buz to Amundi and KAF S&C bought new fund management 1-2 yrs ago, guess they want to consolidate this buz and the lands too

many old timers holding this shares for more than 20 yrs since listing days, I am sure they wont let go at low price too

2015-10-17 13:55

nice1

SPA extended to 31/11, another month to go
just unbelievable that the old lady need time extension for a deal selling from left hand to right hand
old tricks die hard

2015-10-27 08:18

nice1

Annual General Meeting
Description KAF-Seagroatt & Campbell Berhad
- Twenty-Fifth Annual General Meeting

Date of Meeting 25 Nov 2015
Time 11:00 AM
Venue Taming Sari 3, Ground Floor, The Royale Chulan Kuala Lumpur, 5 Jalan Conlay, 50450 Kuala Lumpur

Date of General Meeting Record of Depositors 18 Nov 2015


AGM ON 25/11, WHO IS GOING?

AGM IS GOOD TIME TO BOMBARD THEM WITH QUESTIONS ON TAKEOVER AND PRICING

COME COME FOR FREE MAKAN MAKAN, CHIT CHAT & KAYPOEING AND BOMBARDING

4 minutes ago

nice1

Invitation to all shareholders to attend AGM for free makan makan, and bombard the directors on takeover pricing

COME COME TO PARTY

2015-11-21 09:35

nice1

INVITATION to all shareholders to attend AGM for free makan makan, and bombard the directors on takeover pricing

COME COME TO PARTY

KA has 78% stake, minority 22%, below 25% spread required by Bursa. Credit Suisse purchased about 4.5m shares recently, the largest minority shareholder, surely want higher profit. Credit Suisse purchase price ranged easily from 1.80 to 2.60, their job is to make more money from their investment. money, money money....

KA need another 12% from minority shareholders to take the company private, minimum threshold is 90%. To acquire another 12% is not easy as the shares are tightly held by many senior investors if you had attended previous AGM - mostly are not young investors, held the shares for dividend for decades

KA needs to take the company private for few reasons mentioned before but minority investors can hold for dividend. KA also want to pay LESS LESS LESS TO MINORITY to take the company private for very same human reasons though she is a billionaire and not really young, also money money money... People just wont get sick of too much money...

The extended SPA for the takeover on 30/11, just 3 days after AGM, for KA to test water on minority investors sentiment towards the takeover pricing.

Your attendance at AGM, YOUR objections & voices on the takeover price do count

Let us together hold them at ransom for a higher price, also for small money, money money though we minority are just ikan bilis out to get fair price....

2015-11-24 07:27

nice1

AGM tomorrow 25/11, 11am
The Royale Chulan KL

2015-11-24 08:30

nice1

AGM tomorrow 25/11, 11am
The Royale Chulan KL

See you guys there

2015-11-24 16:52

nice1

AGM today 25/11, 11am
The Royale Chulan KL

2015-11-25 07:43

kakashit

yes, i will go there, hold until sleepy liao

2015-11-25 08:49

sinkalan

at the agm, that lady still think 2.70 is a good price
just hold the shares lor
kakashit, nice1 and others, all hold tight tight

0 seconds ago

nice1

Rebecca Yap -- Head, Corporate Monitoring- rebecca.yap@mswg.org.my
Quah Ban Aik - Head, Corporate Monitoring- banaik.quah@mswg.org.my

pls email your objection on the takeover price to them - MINORITY SHAREHOLDER WATCHDOG 03-20709090. check out their website too

MSWD can help us

Don't go down without a fight

2015-11-23 13:06

nice1

good news guys, I have just reported to MINORITY SHAREHOLDER WATCHDOG and they will assess my report and put the company under surveillance. The MSWG Head is friendly and supportive.

If there Is basis after checking all facts, MSWG WILL prepare a petition and WANT ALL MINORITY TO MEET, SUPPORT AND SIGN the PETITION before submitting TO KAF & MEDIA

guys, support from u are significant, number does count, MSWG official said

2015-11-26 13:51

sinkalan

gd job, nice1
100% support

2015-11-26 19:32

mk88

yes, shud teach the greedy old lady a lesson
big fat & old shark eat all the powerless ikan bilis,
really never learn any nilai nilai murni in school

2015-11-29 09:58

mk88

I don't have many shares in KAF

just cant stand such greedy & selfish characters
where is the greedy old lady's values of caring and sharing?

if company make losses, everybody include minority have to share the losses
but when properties investment value appreciated, all belonged to the greedy old lady

what nonsense? where are her life's values? never been to schools?

2015-11-29 11:08

nice1

true true
don't go down without a fight
let fight the greedy old woman

2015-11-30 10:10

nice1

These are the minority names in the latest annual report
Plse stand up and fight
Don't wait for others to fight for your cause
You have more shares and more to lose than us here

4. HSBC NOMINEES (ASING) SDN BHD 4,582,500 3.82
Exempt an for Credit Suisse
6. LIM KUAN GIN 1,375,000 1.15
7. CIMSEC NOMINEES (TEMPATAN) SDN BHD 1,006,300 0.84
Exempt an CIMB Islamic Trustee Berhad
9. MCLAREN SAKSAMA (MALAYSIA) SDN BHD 762,500 0.64
11. MAHMOOD BIN OSMAN MERICAN 323,600 0.27
12. LIM CHIN SEAN 315,000 0.26
13. NEONG KOK HOOI 292,400 0.24
14. NG PHAIK LEAN 275,100 0.23
15. LEONG YUET LING 233,900 0.19
16. LIM KIAN HUAT 229,400 0.19
17. TAN HOCK HIN 225,000 0.19
18. MAYBANK NOMINEES (TEMPATAN) SDN BHD 209,100 0.17
Pledged Securities Account for Mahmood bin Osman Merican
19. LIM NYIT NGOH 200,000 0.17
20. LOW POH WENG 175,000 0.15
21. LIM GAIK BWAY @ LIM CHIEW AH 161,900 0.13
22. SHERWOOD HATHAWAY SDN BHD 160,000 0.13
23. CHENG GEK HONG 150,000 0.13
24. CHIN KIAN FONG 149,700 0.12
25. HEW LING SHANG 130,000 0.11
26. KWAN TIANG YOON 124,000 0.10
28. KOAT LEI WAH 115,000 0.10
29. MAYBANK NOMINEES (TEMPATAN) SDN BHD – LIM BOON CHEE 110,000 0.09
30. LIFE ENTERPRISE SDN BHD 107,300 0.09

2015-11-23 12:15

nice1

http://www.thestar.com.my/business/business-news/2015/12/05/kaf-goes-for-organic-growth/?style=biz

In today Star

Khatijah says when KAF SC went public, its capital was RM30mil and the company had given bonus shares from time to time.

“We gave a bonus of one-for-one, so the cost was 50 sen. After that we gave another one-for-one so the effective cost to original shareholder would have been 25 sen.

“So I think RM2.70 is a very good return on investments,” she said.


still continue to talk nonsense, still talk about history, what about those new investors who bought 7-10 yrs ago or last few years

new investors come in bcause of NTA cash and land assets

now greedy old lady said cukup lah, minority already make enough profit esp those held very long time 25 yrs ago

what nonsense

2015-12-05 12:34

PISON85

So this deal won't go through is it? Will it fall back below rm2 if that happens? The share rose due to the privatisation news. If that doesn't happen it would go down right?

2016-02-05 13:25

jack2

the deal will go through

I think they are waiting for Bank Negara approval that that take about 6 month, probably by March
don't worry, sell back to them at 2.70

Hope, they can give small dividend too... for waiting.. which I don't think so as they are very kedekut type

2016-02-13 10:57

firehawk

drag on so long time alrdy .... more than half yr, some investors cannot stand alrdy .......

2016-02-15 09:01

jack2

drag long, the kedekut must pay dividend liao

2016-02-16 20:10

firehawk

she postpone again loh .... save dividend, dirty trick by dirty ppl .....

2016-02-23 16:00

jack2

the kedekut old lady style is to delay and save on her investment cost at the expense of minority shareholders

must force her to pay dividend

2016-02-24 09:38

seeker

damn neck also long already

2016-03-02 11:14

connect1

at last old lady made announcement
you guys hold or sell ler? guaranteed privatized,
unless there is a hero to push beyond 2.70
now 2.68

2016-04-22 09:19

connect1

those who bought 2.50 & below last few weeks, thumbs up

2016-04-22 09:22

connect1

any hero to push above 2.70?

2016-04-22 10:01

kakashit

RIP, KAF.

2016-04-22 11:24

connect1

2.7 M shares done last friday
who bought for 2 cts gain, if not old lady, LOL
old lady easily holding 80% stake
20% retailers

those just cant tahan the long long wait, just sell at 2.68 yesterday
later will be 2.69 and lastly 2.70 done if no hero appearing

2016-04-23 13:04

cruise

RIP 270

2016-04-24 10:53

Alex GunaSeelan

http://www.mswg.org.my, do these folks still active?

2016-05-04 16:59

2016v

mswg - what case? no chance
only way is buy and push above 2.70

2016-05-05 10:40

firehawk

she has to revise to higher price if can't get 90% ...

2016-05-05 10:42

2016v

you are advised not to take any action which may be prejudicial to your interest

haha

minority has 20%

2016-05-05 11:40

2016v

KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded stockbrocker and fund manager KAF-Seagroatt & Campbell Bhd (KAF) for failing to ensure that its fourth quarterly report for the financial year ended May 31, 2015 (FY15) is factual, clear and accurate.

The securities trading regulator said in a statememt that KAF did not ensure that the Q4 FY15 results took into the adjustments as stated in its announcement dated Sept 30, 2015.

There was a 36.3% variance between the KAF group’s audited profit after taxation and minority interest audited results for FY15 (RM5.715mil) and the unaudited results it announced earlier on July 31, 2015 (RM4.193mil).

The adjustments were mainly in respect of the reclassification of income derived from the KAF Sukuk Fund amounting to RM971,000 from ‘available-for-sale reserve’ to ‘net profit’ for the financial year. and an adjustment in taxation amounting to RM551,000 due to an increase in deferred tax assets arising from the additional provision made for bonus in a subsidiary.

2016-05-10 08:18

2016v

Greedy old lady tricks, surpressed profit, so that the offer price looks attractive and no dividend payment

serve them right to get reprimanded from Bursa

Once privatized, the business profit will surged many folds, eg HL Capital

2016-05-10 08:20

2016v

what is your plan?
sell to them or hold until the outcome of this offer?

can we all hold for more? probably rm3.0

2016-05-17 10:37

firehawk

i also hold ... aim for higher ....

2016-05-20 10:37

2016v

good, more hold the better for higher price
nothing to lose to hold
old lady is going to privatised at 2.70 or more, go for more...
dont think she can get 90%

2016-05-22 20:05

2016v

KUALA LUMPUR (May 23): The cash offer price of RM2.70 per offer share for the 76.74% acquisition of KAF-Seagroatt and Campbell Bhd (KAFSC) by KAF Investment Bank Bhd has been described as “not fair” but “reasonable” by independent adviser Public Investment Bank Bhd.

The OFFER PRICE IS NOT FAIR BUT REASONABLE - wtf statement

http://www.theedgemarkets.com/my/article/kaf-seagroatt-and-campbell-shareholders-advised-accept-takeover-offer

2016-05-23 16:18

2016v

The adviser, appointed by KAFSC board, recommended that holders accept the offer, but closely monitor the market prices of KAFSC shares prior to the closing date, before making decision on accepting or reject the offer.

another contradictory statement from independent bank adviser-

just hold till offer close and wait for higher offer price lar

2016-05-23 16:31

calvintaneng

Post removed.Why?

2016-05-24 11:09

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