It may seems like the details are not all out. The whispers have it that Zurich will also assume RM200m of loans, which will actually add another 65 sen to the 1.13 cash deal. Maybe that explains the funny support at RM1.10? This may make more sense because the RM344m was on the low side based on recent similar transactions. Still, its unconfirmed views.
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Dali,
How do u derive the rm1.50-1.60 figure?
Pls do a detail valuations of the cash & takaful assets.
Thx.
8:55 AM
Dali,
TY deserves an oscar. Selling MAAB cheap & failure to disclose the details of the pricing.
Sales proceeds plus NTA works out to be approx. RM2.20
Applying a discount factor of 30% fair value should be RM 1.54 in line with your valuation.
Mkt unhappy with cheap sale hence the sell down. Buyer retailer nah. The wolf & gang laughing at us all. Why??? cos the omission of material fact..... Zurich assumes the liability of RM200m syndicated loan.
TY will is not telling lies as MAAH will get RM344m as Zurich will pay the RM200m loan directly to the bankers.
Hence the NTA ramps up to RM 2.80 as actual sale proceeds will be RM544m.........smart wool eh.
Watch the unfolding of the drama.
10:18 PM