Tuesday, February 5, 2013

MBFHLDG Rock !!! Privatization ?

 
 
1. MBFHLDG - This one rock today !!! COngratz to all holders of MBF. ^^ Company request for suspension, i guess something good must be coming. ^^ Good Luck. ^^ hng & cheeheng both of you must be very huat. ^^
 
2. YTLP-WB - I sold all YTLP-WB at 0.39sen that bought in yesterday. Half sen profit. ^^ Hope another good news is coming on this. ^^
 
3. IGBREIT - Scalp on this, bought at 1.36 and sold all back at 1.37. 1sen profit. ^^
 
4. Watch List - MBFHLDG, YTLP-WB, IGBREIT, TMS, CARLSBG, MKLAND, CYPARK
 
5. CARLSBG - Continue to inch higher, i hope by time dividend declared, this guy will surge above RM12 mark. ^^
 
6. MKLAND & CYPARK - Continue to dissappoint us. :( Come to a stage, need to bite the bullet. :(
 
7. Good Luck !!!

37 comments:

horse said...

I bought in another batch of GoldenAgri at S$0.63sen today. ^^
Previous batch was sold all at 0.755sen. ^^

CPO should start to climb back after CNY hopefully. ^^

hng said...

horse

I hope my another expectation on YTLP will come true like MBF. The immediate catalyst to spur share price and re-rating on YTLP are divestment on its Msia IPP to 1MDB and/or privatize by YTL through share swap, which also will lead to major re rating on enlarge YTL

hng said...

horse

Too many share under selling pressure nowadays, CCM; CYpark; MKland, each cost 5D loss to portfolio.

Lucky, today contra 5D profit on MBF offset partially and expect fully neutralize or even record small profit these year once MBF announce privatize offer at least 1.70, with possible maximum up to RM 2.00

horse said...

hng,

I also got myself stuck in MKLAND. :(
Will likely keep for a while and see how it turn out. Worst come to worst will cut this paint out. :(

Good Luck to your MBF, i think more upside to come. I should have grab it 1.30 when i see it start moving. :(

hng said...

horse

We as retail shareholder have disadvantage....even equip with fundamental analysis, still can't beat market sentiment. Must surrender and bow down to market force....cut loss after cut loss...

Nevertheless, I always remind myself never give up hope, the cut loss is to protect core capital. So long, capital is protected, opportunity is always available later to recoup loss.

lg said...

I bit the bullet on mkland last week. Too bad missed mbf..huhuhu...

hng said...

Last week, i posted here that another original shareholder of Viewnet disposed its TMS share, that is KM Pang control by Pang Kim Moon and Chan Lai Sun, which also own 50m TMS share. Again similar to Aura active arrangement, KM Pang only can dispose maximum 25m and the remaining 25m is to keep as pledge for profit guarantee to TMS until 2014.

Based on last week announcement, its only disposed 7.4527m on 25 Jan, still own 42.5473m, but 25m reserve to pledge under nominee account for profit guarantee to TMS. Therefore, only 17.5473m is available for sale.

Today, now confirm KM Pang control by Pang Kim Moon and Chan Lai Sun sold off it remaining of these 17.5473m share via open market. Thus, should be no more major selling pressure onwards.

Teng said...

Horse

I may follow buy Golden Agri as well

ck5354 said...

based on reliable source, it is not privatization for mbf.

Most likely is the special dividend.

Hope can reap 1st time 4D profit from mbf.

Kena kau kau from wct.

horse said...

good luck ck5354 ^^aim for 5D next ^^

teng - welcome to golden agri club ^^

hng - yes, if overall sentiment is as such then, can't do much. :( just live with it, my loss in mkland can be easily recoup as it is not a major one. will decide later what to do with it. maybe got 2nd div in jul.

cheeheng said...
This comment has been removed by the author.
cheeheng said...

The warrant of MBF Holdings Berhad surged more than 120% in the week ended 25 January 2013 as major shareholder Tan Sri Datuk Dr Ninian Mogan Lourdenadin, through Nadin Holdings Sdn. Bhd., mopped up MBFHLDG-WA from the market. According to stock exchange filing on 29 January, Lourdenadin disclosed that Nadin Holdings Berhad had purchased 22.75 million warrants from the market the week before at average prices ranging between 23.6 sen and 37.2 sen. MBFHLDG-WA ended trading on 30 January at 35 sen while the mother share closed at RM1.25.

Does Lourdenadin latest purchase of warrants signal his intention to attempt another privatization of MBF Holdings? As of 29 January, Lourdenadin already holds 86.14% of all outstanding shares and 91.54% of all outstanding warrants (MBFHLDG-WA) which will expire in the middle of May this year or some 100 days to expiry. He only needs to buy another 3.86% or another 22.3 million shares to cross above the 90% shareholding threshold to compulsorily acquire the remaining shares and take the company private. Judging by the way he mopped up MBFHLDG-WA in the open market, it does not take a genius to guess his next move.

MBF Holdings’ principal activities are those of an investment holding company and the provision of management services. In Malaysia, its principal activity is its card and payment services business operated by MBF Cards (M’sia) Sdn Bhd as well as printing and media booking. Its major overseas operations are conducted through MBf Carpenters Pty Limited, a wholly-owned subsidiary in Australia having diversified interests in Fiji and Papua New Guinea. In the first three quarter of 2012, MBF Holdings suffered RM0.4 million in net loss compared to a net profit of RM91.9 million a year ago. However, MBF Holdings completed the sale of its card and payment services business to AmBank Group in December 2012 for some RM641.4 million. This should translate to a substantial rise in fourth quarter profit.

Lourdenadin had previously attempted to take MBF Holdings private via a proposed selective capital reduction and repayment exercise (SCR) in 2010 but his bid was rejected by minority shareholders then as the cash amount of 65 sen proposed under the SCR was not attractive enough for minority shareholders. Nevertheless, with the completion of the sale of MBF Holdings’ card and payment services business recently, it does make sense Lourdenadin to do another privatization attempt as the market capitalization of MBF Holdings is only about RM728 million. MBF Holdings net asset per share stood at RM1.738 as at 30 September 2012. It is expected to realize a gain of RM401.2 million or 69.5 sen from the sale of card business in the upcoming reporting period. By spending some money to buy up another 3.86% of the company, Lourdenadin can gain access to the huge cash proceed from the disposal of card business. Alternatively, Lourdenadin can also exercise just enough MBFHLDG-WA so that his shareholding crossed above the 90% level and force a privatization.

With only less than 9% of outstanding warrants not held by Lourdenadin, it is not a good idea to pay a premium for MBFHLDG-WA as Lourdenadin may not need to buy up more warrants now that he has enough shares (when he choose to exercise some of his warrants) to reach 90% shareholding and to compulsorily acquire the remaining shares and take the company private. A direct purchase of mother share is a better bet since the warrant will expire shortly and its valuation at implied volatility of 81.7% is expensive compared against the mother share historical volatility of just 23.1%.


hng said...

Ninian may take MBF Holdings private

PETALING JAYA: Market talk has it that Tan Sri Ninian Mogan Lourdenadin may attempt another round to take private his majority-owned company MBF Holdings Bhd.

The talk emerged after MBF Holdings requested yesterday a suspension of its shares from trading today pending an announcement.

Ninian’s net indirect holdings in MBFH increased recently after he bought MBF Holdings’ warrants from the open market at the end of January.

According to latest stock exchange filings, Ninian has a 91.5% indirect interest in MBF Holdings.

Ninian had back in 2010 tried to take MBF Holdings private through a proposed selective capital reduction and repayment exercise but the attempt was rejected by its shareholders at an EGM.

While its Malaysian card and payment services business through MBF Cards (M) Sdn Bhd was recently sold to AMMB Holdings Bhd, MBF Holdings still has major overseas operations through its unit MBf Carpenters Pty Ltd in Australia with diversified interests in Fiji and Papua New Guine

Teng said...

Why index suddendly negative almost 8 points from positive

hng said...

Another round of selloff lead by heavy weight, Lets see Index can hold 1600pts

alwayswin111 said...

Hi all
FBMKLCI again rebounded off May uptrendline at 1614. If it does not support this Trendline and Horizontal support at 1590 , could be very bearish. This is just my opinion. Please all trade with care. Stick to fundamentally strong stocks. We must all Huat in 2013.. Just need to trade cautiously. This blog is very dear to me. I am probably older than all of you..(but not wiser, only careful)

ck5354 said...

Must watch this:

http://ck5354.blogspot.com/2013/02/anwar-007-oh-anwar-007.html

hng said...

ck5354

Thanks for the link. Well done Anwar, PR have my support

ck5354 said...

dijacor suddenly up, any news???

hng said...

Bought CAP at 56sen.....

ck5354 said...

YTL and YTLpower almost matching liao

hng said...

Sold back CAP at 53sen, realize contra loss...stock free fall...take lesson :(

lg said...

hng,
CAP considered HOT stock?

cheeheng said...

hng

my brother wanted to buy CAP but i told him not to touch "red chip". U prove me right.

cheeheng said...

bought muhibbah @ 83. almost near 52 wk low.

hng said...

Take note of its, CAP IPO at 68sen, i thought can scalp some profit on it...turndown to scalp trade on loss...too much volume.

hng said...

CK5354

Once, YTL and YTLP match, maybe its time golden time to engulf each other, 2 become 1

hng said...

Increase further stake in YTLP-WB at 38.5sen, average down holding cost

Teng said...

Hng/CK

YTL may annouce privatization of YTLP at time where people forget about it

I-®on said...

hng

Tomoro CAP might drop further down...Warning signal...

hng said...

I-®on

CAP slump 20% lower than IPO price seem too much. Anyhow, cut loss on it already. Oversea market all in positive mode, only our market due to GE, stand out as loser. Index 1600 pts is physiological level at the moment.

hng said...

ck5354

MBF confirm is to privatize by Tan Sri . However, management insist to disclose the offer price after 7pm

hng said...

ck5354

MBF management work too late and the posting is unable to display in bursa already. I think we will have to wait till tomorrow morning.

hng said...

The unofficial privatize offer price could be MBF at 1.50 nett; MBF-WA at 50sen nett.

Any special dividend declare will lead to adjustment in offer price.

twshien said...

hng,

help me to understand, if offer price is RM1.50, it is not so attractive to public shareholder( especially those who bought yesterday at 1.45+), yea?

thanks

hng said...

twshien

The sudden share spike in MBF price is primarily due to Tan Sri accumulation; about 70% of the total share trade; average about 1.45.

If without the last min share markup by Tan Sri, the offer price of 1.50 will be 25% premium to average MBF market price at 1.20 and as much as 60% premium to MBF-WA average price of 31sen

Although offer price at 1.50, may not attractive for those trader bought at 1.45; we can opt to sell MBF and buy back MBF-WA at 43sen which still have premium of more than 15%.

These unconfirmed offer price of MBF at 1.50 and WA at 50sen are more than 100% higher than 2010 offer price of 65sen and 500% higher compared to 2010 offer WA at 5sen




twshien said...

hng,

thanks a lot for the detail explanation. :)

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