Thursday, December 20, 2012

Trades Dated 20/12/2012 - MPHB



1. MPHB - Bought at RM3.53. ^^

2. Watch List - MPHB, IGBREIT, STAR, MAS, WCT, SPSETIA, UCHITEC, LONBISC

3. Good Luck.

90 comments:

  1. bot mbf holding@ 1.20,40 sen sp. div. soon?

    bot Timecom@3.85,free Digi shrs. Every 1000u Timecom gets 240u Digi shrs. Good deal or what? At current price 240 Digi shrs x 5.36= RM 1286.40 !

    on my radar,TIMECOM,MBFHLDG,AMEDIA,UCHITEC

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  2. Why STAR lowest for the year when most counters are at their highs?

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  3. cheeheng

    MBF intend to distribute up to 171m. based on maximum and minimum scenario; the special dividend work up to 17sen and 30sen respectively

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  4. caryn

    Star is another victim suffer by selling from EPF. However, star is good dividend yield stock, payout 18sen TE, 7% yield and is in net cash position of 31sen/share.

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  5. Hope SP setia-WB holder can wake up fast, risk is too high.

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  6. This comment has been removed by the author.

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  7. Based on SP setia 2.99, its WB essentially worth ZERO

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  8. EPF and tan sri liew keep disposing spsetia.

    R there trying to punish spsetia-wb holder???

    Or they need money to convert spsetia-wb to spsetia.

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  9. ptcbuxhosts

    Sorry, i'm not familiar with ECM, but i think is has already emerge as largest independent investment bank.

    Perhaps seek other cyberfrined here to advice you on more detail and prospect n ECM.

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  10. hi share,

    ECM is technically pn17 after sold stock broking business to Kenanga.

    Either white knight come to pump in new business or they plan to buy new business, only time will tell.

    My 2 cents.

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  11. hng

    i thought the amount is 40 sen.

    MBf group chief executive officer, Tan Seri Mogan Lourdenadin, told the press that the group would be disposing more of its non-core assets to focus on its main business operations.

    “We will be selling off more non-core assets in the next 24 months so that we can focus on our main core businesses which includes our printing business and operations in Papua New Guinea,” said Lourdenadin after the group’s extraordinary general meeting (EGM) today.

    “We do intend to distribute up to 60 sen in dividends back to our shareholders over the course of these disposals,” he added.

    The group recently announced it was disposing of its credit card operations to AMMB Holdings Bhd for a total consideration of RM623.4 million and has declared a special franked dividend of 40 sen per share from the proceeds of the disposal.

    The disposal was approved by shareholders at the EGM today.

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  12. ECM proposal: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1148729

    MBF: http://bonescythe.blogspot.com/2012/12/mbf-times-up-soon.html

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  13. Hng,

    what do u see huayang???

    price keep going down.

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  14. ck5354

    The conversion price of SP setia WB is 2.99. No logic if they sell SP setia at 2.99-3.01, just to raise fund to convert their WB.

    I think they sell SP setia to raise fund to subscribe 15% private placement share at discount price.

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  15. chenheng

    I referring to bursa announcement on is intended use of capital proceed from disposal MBF card.

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  16. cheeheng

    MBF CEO did mention in Theedge about special dividend of 40sen, but i think he is referring to minimum scenario whereby none of warrant convert and the special dividend is declare as gross dividend of 40sen less 25% tax (net: 30sen)

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  17. ck5354

    Huayang share trade sideways after bonus issue. Perhaps need to wait for next earning report

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  18. Hi, is it worth it if I buy Amedia now to enjoy its bonus & warrant? Kindly advise. Thanks

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  19. Share,
    Upon disposal of it's broking business to KENANGA,ECM will be distributing it's proceeds as below.
    Cash distribution-RM0.534
    Distribution in specie KENANGA share-RM0.085(120/830 X 585)
    Distribution in specie of KENANGA RULS at nominal value-RM0.057
    Total distribution-RM0.676/share.
    Thereafter share capital will be reduced to 0.324.A share split will be done by splitting them into 32.4 shares of 0.01.A consolidation of these shares into 1.00 par will follow.Thus you will end up 324 units for every 1000 held.

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  20. Post disposal,ECM plans to focus on it's fund management business along with some portfolio of proprietary investments.It still holds a 5.35% of E&O and 50.95m of RCPS in UEMLAND.If property investment in Johor do take off as expected,ECM will benefit as it has the option of converting the RCPS into odinary shares.
    Hope this helps.

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  21. OK. after make due diligent study on MBF, i'm in.

    Bought MBF at 1.20

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  22. hng,

    thanks for enlightening. i c no logic it being at the year's lowest. right hand of EPF selling later left hand of EPF buying. there is little or no coordination within the EPF, different investment advisers?

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  23. hng

    thnx fr the explanation n welcome to club MBF :)

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  24. caryn

    Apart from EPF own investment team, it also appoint other fund manager to manage fund. The decision to sell or not, depend on each fund own decision making.

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  25. cheeheng

    Thanks for your reminder, i think MBF still have upside potential once the special division is declare.

    Since the disposal of its MBF card is complete in Q4, MBF is able to record these handsome one off gain in its final quarter result in Feb as much as 67sen/share and boosting its NTA to 2.40.

    Apart from MBF card, MBF still have a lot of assest. It kulim landbank 3500arces is yet to unlock value. With cash proceed from disposal, 25% has opt to payout for special dividend, the remaining cash will use to venture to property development in kulim and other for its core business in papua Geneva and Fiji.

    MBF has plan to total return as much as RM 1.00 to shareholder within next 2 year, derive mainly from disposal of its non core business and plan listing of its core business in Papua

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  26. caryn

    Star losing its shine.

    http://klse.i3investor.com/blogs/nexttrade/22630.jsp

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  27. hng

    after MBF div. & sp div. would the WA conversion price be adjusted accordingly? tq

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  28. caryn

    There is no adjustment in conversion price. This is because MBF warrant conversion price at RM 1.00 is also MBF par value. According to Deed and Poll, the exercise price can not adjust lower than par value. Warrant holder must convert to entitle special dividend.

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  29. So far, there is no many warrant convert yet. I think Tan Sri, control both 87.26% MBF and 76.4% warrant, may not convert its warrant first, and opt for maximum dividend payout of 30nett (40sen franked dividend) instead of 19sen to raise maximum fund and later used the cash proceed to convert all its warrant to MBF

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  30. So far, there is no many warrant convert yet. I think Tan Sri, control both 87.26% MBF and 76.4% warrant, may not convert its warrant first, and opt for maximum dividend payout of 30nett (40sen franked dividend) instead of 19sen to raise maximum fund and later used the cash proceed to convert all its warrant to MBF

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  31. Hng

    MBF warrant is zero premium.Isnt is better bet than mother?after special dividen,exercise price will be adjuted

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  32. Teng

    Please refer to MBF announcement on 8 Aug, there is no adjustment in exercise price due to special dividend as its exercise price at RM 1.00 can not lower than its par value of RM 1.00

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  33. Now with the completion of disposal of MBF card to AMMB on 3 Dec, it is just matter of time for MBF declare these special dividend 40 sen franked dividend (30sen nett)

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  34. Hng

    Thanks. Still seems unfair to warrant holder

    Possible MBF pay special dividend by ways of capital reduction,ie par value reduce to 70-75 cents from RM1?some PLC pay special dividend this way

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  35. Teng

    If MBF opt for capital repayment, it need to seek shareholder approval and High court order. It will take another 6 month time, which i think very likely.

    Although it may seem unfair to warrant holder, but as long as warrant opt for conversion, there is no loser.

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  36. To MBF major shareholder, control 87.26% MBF stake and 82.96% stake in warrant (updated), Tan Seri is largest beneficial.

    Tan Seri afford no opt for conversion its warrant first, to entitle maximum payout 30sen instead of 19sen, and dividend received can later used for warrant conversion.

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  37. Tan sri has 202 mil warrants which expire next may. So he has to push mother sky high to offload warrants. I guess 1.80 to 2.00

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  38. This comment has been removed by the author.

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  39. hng
    In a statement to the exchange yesterday, MBf which expects to rake in proceeds of RM623.4 million from the sale of MBF Cards (M) Sdn Bhd to AMMB, said it is earmarking up to RM172.07 million or 28% of the total amount as dividends.

    “The proposed dividend is consistent with the board’s objective to maximise shareholders’ value through efficient capital management which includes returning excess cash to shareholders, after taking into consideration the group’s business and working capital requirements as well as its short to medium term investment plans.

    “The declaration and payment of the proposed dividend is not subject to the approval of the shareholders of MBf or any regulatory authorities,” the company said.

    Assuming the company’s outstanding warrants and loan stock are converted into new MBF shares, the dividend payout will come to 19 sen a share due to a larger issued share base, according to MBf.

    But if none of the warrants or loan stock were converted, the dividend payout will amount to 30 sen a share,

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  40. This key word very important:

    “The declaration and payment of the proposed dividend is not subject to the approval of the shareholders of MBf or any regulatory authorities,

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  41. ck5354

    if MBF mother shr goes to rm 1.80-2.00 then we'll join hng in da earn 5D pft cluB :0

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  42. i beli sikit only, impossible will have 5 D profit...

    I think 4 D profit more reasonable.

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  43. Lets all join with chenheng the 'MBF club'. What can we do now is wait patiently, MBF special dividend should be announce soon.

    Lets 'Huat' together.

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  44. hng

    i can aiready c the m00lah$$$ coming.....:)

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  45. uchitec sold 1.19
    swapped to mbf 1.21
    thx & let's huat together

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  46. No trading from me, will not create new page as the day is still young. ^^

    WOW !! All follow cheeheng's mbf club. ^^

    Hope all of you huat ar.... ^^
    AND keep laughing all the way to the Bank. ^^

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  47. I hope this blog benefit all the silent readers out there. ^^

    Please share your opinion if you have any and let's all earn together. ^^

    Create an everlasting and rewarding shares investment. ^^

    GOOD LUCK !

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  48. Keck Seng Cash-Rich and Asset-Rich
    Keck Seng is cash-rich and asset-rich as well.

    After a long period in the doldrums, Keck Seng's hive of activity last Friday came like a bolt from the blue. Its traded volume improved substantially at 1, 372,900 shares. The stock was up 14 sen. It closed at RM4.01.

    Normally, it used to be around a few thousand shares transacted daily.
    This sudden turn of sentiment is most likely to be a reflection of some bullish news known only to some insiders at this stage.

    The company made a gain of RM259 million in 2010 from the disposal of its investment in Parkway Holdings Limited. Instead of giving out some currency notes to its shareholders, it chose to give out only a piece of paper (a bonus issue) and keeping all the cash. As at 31.12.2011, it has net cash of more than RM700 millions. I wonder what it intends to do with the money.

    Most of its landed assets are in the Iskander Region. In KL, it has the Menara Keck Seng and the Regency Tower. If a revaluation of all its properties is made, the company will be worth many times more than its present book value of about RM5 per share.

    Is the heavy volume transacted last Friday a prelude to something important about to happen at Keck Seng? I sincerely hope so, and I intend to hold on to my shares.

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  49. Hi Horse

    For Spore Reits,any particular counters you favor?

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  50. Setia WB please GOOOOO down to 1 sen.I want to buy

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  51. 108抵稅准則(Section 108 tax Credit)明年底到期,券商認為,激成(KSENG,3476,主要板工業)有望派息3億5900萬令吉或每股96仙,成為潛在併購目標。

     108抵稅准則到期日漸漸逼近,若明年底前未全面應用108抵稅准則,戶頭內余額將被充公。

     黃氏星展唯高達證券研究報告顯示,激成料趕在大限前充分利用余額,派息3億5900萬令吉,相等于每股96仙。

    總額3.6億令吉

     此舉料將為激成帶來額外收穫,即淨現金約6億9900萬令吉(截至今年9月底)、低資本支出及偏高稅務減免股息約12億。

     該股市值13億9900萬令吉,其中83%為流通股,成為潛在併購目標。

     儘管原棕油價格疲軟,激成今年財年首9個月營業額按年揚7%至6000萬令吉。

     黃氏星展唯高達證券研究報告說,我國明年1月31日將調低原棕油出口稅,料將為激成明年財年做出貢獻。

     激成位于夏威夷的威基基阿拉那希爾頓逸林酒店(Double Tree Alana Waikiki Hotel)預計,入住率提高,營業額也增加。

     激成在柔佛丹戎布特里的高爾夫球度假村也轉虧為盈。該酒店業務為今年首9個月帶來960萬令吉的利潤。

     券商看好該股基本面,給予“跑贏大市”投資建議;該股早盤一度勁起11仙至3.98令吉;閉市時報4.01令吉,揚14仙,成交量達137萬2200股。

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  52. Amedia ...kah yau...:)last day b4 ex on26 Dec.

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  53. Teng

    Thanks For the KSeng' info.At the moment trading PE 20. Maybe going up potential is limited ?

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  54. Buy spsetia-wb 0.065 sell 0.075.
    now buy again 0.07.

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  55. Spsetia-wb continue to surge.
    Enough for now for 2 rounds.
    If mother break 3.06, can consider again.

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  56. Bought ultramax Kulim-WC at 1.03-1.04

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  57. spsetia-wb is very high risk.

    Make sure you have a clear plan to play or exit strategy.

    Bro Hng,
    Any good news Kulim????

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  58. ck5354

    High court already approve KFC and QSR asset divestment and capital repayment. Now is just pending to official date announcement anytime from now and should be complete by end of Jan 2013.

    Kulim at the same time will likely proposed special dividend between 85-95sen. It will in turn lead to adjustment in kulim-WC exercise price.

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  59. Kamsia Hng Kor.

    Sometime weird hor.

    MBF wa no adjustment of price.

    Kulim wc got adjustment of price.

    Alamak.

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  60. ck5354

    Among the catalyst for kulim-WC:

    1. Trading at slight discount
    2. Special dividend of 85-95sen could lead to similar amount of adjustment in exercise price from 3.85 to 2.90-3.00 .

    3. Only expire in 18/2/2016, still have more than 3 year lifespan.

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  61. ck5354

    As mention in previous post, MBF unable to adjust exercise price due to limitation that exercise price CANNOT below to share par value. In these case, MBF exercise price coincidentally is RM 1.00, same as its par value.

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  62. So this round you plan to keep a bit longer???

    Or wait for capital repayment??

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  63. ck5354

    I'm aiming 5D gain each, kulim-WC and MBF

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  64. Together we huat arrrrrrrrrr....

    On 5 November 2012, the shareholders of KFC had approved the resolutions on the Proposed KFC Disposal, Proposed KFC Capital Repayment and Proposed KFC Warrant Scheme and subsequently on 6 November 2012, the shareholders of QSR had approved the resolutions on the Proposed QSR Disposal, Proposed QSR Capital Repayment and Proposed QSR Warrant Scheme.

    Accordingly, the Board of Directors of Kulim (save for the Interested Directors) has approved to distribute by way of a special dividend payment of approximately RM1.157 billion to all eligible shareholders of Kulim at an entitlement date to be determined later subject to the actual receipt by Kulim of such proceeds pursuant to the Proposed Capital Repayment of QSR and the Proposed Capital Repayment of KFC.

    Subsequent to the declaration of the special dividend, such adjustments to the exercise price of Warrants 2011/2016 in accordance to the provisions as stipulated in Condition 3, Schedule 4 (Terms and Conditions of the Warrants) of the Deed Poll shall be announced in due course.


    This announcement is dated 6 November 2012.

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  65. ck

    so r we waiting fr? as hng oredi explain ,bot kulim wc@1.03

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  66. I digged extra info on Kulim:

    - We maintain a BUY on Kulim for the special dividend of 93 sen/share. The group would also be a purer plantation company after the disposal of KFC and QSR.

    Source: AmeSecurities

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  67. I in little bit. Not much bullet.

    need to wait money from WCT-wb conversion.

    Hope can get by 3 Jan 2013.

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  68. MBF vs Kulim WC,

    which one you will choose if you have limited bullet???

    2 also almost same time.

    This 2 will be our lucky star for 2013.

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  69. Teng,

    No particular SG REIT But i kind of like this First & Furtune REIT.

    Reits are boring stock, must keep very long in order to reap good profit. :(

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  70. ck

    hard to choose,why not u flip a coin instead ?

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  71. Ho Ho Ho ...

    MERRY Christmas TO ALL and HAPPY HOLIDAY.

    Together we huat arrrrrrr

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  72. amedia sold some avg 0.472 thx

    berry merry christmas and/or happy holidays 2u & ur family cheers

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  73. Teng,

    There is share buy back for OSKPROP. ^^

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  74. Just sold my UCHITECT at 1.19. ^^
    Should avoid SP-WB, it goes higher than mother. :(

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  75. Use available trading limit, further increase stake in Kulim-WC at 1.01-1.02

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  76. Used up all available trading limit, bought all Kulim-WC at 1.00

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  77. Christmas iz truly a magical time
    Its made all my money disappear! :)

    Merry Christmas.....

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