Axiata – Regional Mobile Champion

Axiata, the Malaysia leading Telecommunication Group has been our all time favorite stocks in Bursa Malaysia. Since the demerge exercise of TM & TMI (Axiata) back in 2009, Axiata has then begun its plan to become a Regional Mobile Champion. To date, Axiata classified as one of the most cheapest & high growth Telecommunication Group in Asia. Last month, Axiata once more crowned “Best Telecom Group of the Year” for the third consecutive year by Frost & Sullivan.

Axiata once entered it’s ‘dark’ time due to seemingly ‘overprice’ bought 15% of IDEA Telecom, forked out almost RM 6 billion to pair it’s shares in Spice Telecom after the merging of IDEA & Spice. Altogether, Axiata own 19% of IDEA. In financial year 2010, Axiata had reduced its investment value in IDEA for about RM 1 billion ringgit under impairment loss which lead Axiata fourth quarter 2010 into red.

With 100% share holding on Celcom (M) Berhad, Axiata seems far from it’s fair value. Although Celcom performance currently just below Maxis, most of FH valued Celcom only at around RM 25 – 30 billion which translated into RM 3.00 – 3.50 per share compare to Maxis market capital at RM 41 billion. 

Early this year, Celcom & Digi signed an MOU for Advanced Network collaboration which could see a saving of RM 2.2 billion for both companies in 10 years. The saving figure expected to be seen as early as Year 2012 from both Opex & Capex.

*Source OSK

*Source: OSK

Meanwhile, Axiata is currently sitting on ‘huge cash’ and considering no M&A activities in near term, most analysts expect a special dividend will be announced soon. The return of this excess cash estimated to be ranging from RM 0.60 – RM 1.00 per share.

In addition, mobile telecommunication companies are expected to benefit should government allow them to pass 6% service tax to their prepaid subscriber. This translated into an estimated of 3.5% of revenue and 8.5% profits boost for Celcom in 2011. Celcom is currently having 77% prepaid customer.

Below are latest target price for Axiata. The average target price for all 12 FH is currently at RM5.89 which is 16.4% above the stock closing on 15-Jul-11, at RM 5.06.

At current shares price (RM5.06), Axiata Market Capital is at RM 43 billion. Based on FY2010, Axiata PER was at 24 times and FY2011 forecast profit at RM 3.1 billion, it’s PER will be at only 13.6 times. No wonder most of FH (financial house) giving outperform & overweight call for Axiata shares. Telecommunication companies PER normally ranging from 17 - 20 times, with Maxis currently at 17.9 and Digi at 19.7 times. Given Axiata PER estimated at 17-20 times for it’s forecast FY2011 which at RM 3.16 billion, Axiata stock prices might shoot up between RM 6.32 to RM 7.44 in Year 2012.

Bumi Armada IPO final price at RM 3.03



Bumi Armada announced today it’s IPO price at RM 3.03, 12 sen or 3.8% below it’s original IPO price. This bring Bumi Armada market capitalization of RM 8.87 billion after listing and PER of 25 times. The company set to rise RM 1.95 billion from the IPO exercise.

A total 614.632 million shares application received for 58.569 million shares available for retail subscription, represent 9.5 times. To be exact, Bumiputera application oversubscription by 5.19 times and Public application oversubscription by 13.8 times the allocated shares.

Details of the shares allotment for retail applications are as per below :



Source: Malaysia Issuing House



Source: Malaysian Issuing House


 

 







BUMI ARMADA IPO at RM 3.15 –Year 2010 PER at 26 !!

Few days ago, Bumi Armada have publicly announced it’s IPO and target to be listed on 21-Jul-2011. At retail offer price of RM 3.15 Bumi Armada market capital would be at RM 9.2 billion upon listing.

A bit on the company’s background, Bumi Armada was formed in 1995 and previously listed on Bursa Malaysia on 25-Jun-2011. On 18-Apr-2003, the company decided to be delisted prior to restructuring plan in Year 2005.

Bumi Armada provide offshore services via 4 business units which are, FPSO, OSV, T&I and OFS and 2 support units namely FMS and EPC.

Details of the offering are as follow :

         i.            Retail Offering   - 79,861 million shares

a.       Malaysian citizen                              : 58.569 million shares

b.      Directors & eligible employees         : 21.292 million shares

       ii.            Institutional Offering - 798,677 million shares

IPO Summary

On 20-Jun-2011, Bumi Armada entered into master cornerstone investors placing agreement of 300 million shares which represent 10.24% of the enlarge issued & paid up after the IPO exercise.

Final retail price will be determined after the Institutional Price fixed on the Price determination date and will be the lower of

         i.            Retail Price of RM 3.15 per share

       ii.            The institutional Price

Institutional price will be determined by a bookbuilding process wherein institutional investors were invited to bid for portions of the offering by specifying the number of IPO shares and price they would prepare to acquire. Bookbuilding process commenced from 28-Jun-2011 to 8-Jul-2011. From there, Institutional Prices will be fixed.

Market talk has been rife that Bumi Armada’s IPO has garnered strong interest from foreign and local institutional investors, with sources disclosing that the company saw its institutional offer 5.6 times oversubscribed on the first day its bookbuilding exercise.

For the financial year ended Dec 31 2010, Bumi Armada posted total revenue of RM1.24 bil and profit of RM350.1 mil, compared with a turnover of RM732.1mil and net profit of RM277.4mil for FY09. 84.8% of its revenue for FY10 were derived from outside Malaysia.

Financial Year Summary



NEW IPO – PRESTARIANG BERHAD & INARI BERHAD

2 new IPOs announced yesterday which can be categorized as small caps.


IPO Details

INARI target to be listed on Ace Market of Bursa Malaysia on 19-Jul-11. As much as 10 mil shares to be made available for Malaysian Public at RM 0.38 per share, INARI will see a proceed of RM 31.54 million from the IPO exercise.

INARI, incorporated back in 2010, is an EMS provider involved in semiconductor packaging, which comprises back-end wafer processing, package assembly and RF final testing for the semiconductor industry.

INARI intends to pay dividend of up to 40% of net profit in each financial year. Based on Year 2010, the PER is stood at 8.3 with estimated dividend yield at almost 2% of the offered price.

 

PRESTARIANG is an ICT service provider, focusing on ICT Training and certification, software license distribution and management.

The company which also incorporated in Year 2010, target to be listed in Bursa Malaysia Main Board on 27-Jul-11 and offering 8 mil shares to the Malaysian Public. It’s expect to gain RM 19.8 million from the IPO exercise.

PRESTARIANG proposed to distribute dividend of up to 50% of the PAT for at least 3 years after the IPO exercise. PER for PRESTARIANG for year 2010 is at 13.1 with estimated dividend yield of 3.4% of the offered price.

 

Financial details

Excellence Debut for MSM Holding

Wow ! It’s all we can say to an impressive debut for MSM at Bursa yesterday. At 9.01am, the stock surged 91 sen to RM 4.41 which is 26% above its institutional offer price & 30% against it retail offer price.

The stock continues its momentum in the morning & afternoon session. At the closing, MSM surged almost 40% to close at RM 4.89 and was the most active stock with 101.92 million shares being traded.

Point to note that AmResearch has valued MSM at RM4.53 per share while RHB Research Institute had a fair value of RM4.90 to the shares. With these lower target prices for the stock, we might see a profit taking activities in near term. Based on FY2010, MSM currently being traded at 16.2 PER.

Old Town White Coffe - Apply or Not to Apply?

Old town, incorporated in 1999 successfully commercialized their instant 3 in 1 coffee mix under the OLDTOWN Brand name in the same year. A year later, they already in Singapore market with the same product. 4 years later, in 2005, Old Town successfully penetrated USA, UK,  Taiwan as well as Indonesia.

First OLDTOWN WHITE COFFEE café outlet was open in Ipoh back in 2005. To date, Old Town outlets already reach 182 café outlets not only in Malaysia, but also Singapore & Indonesia wither partially, fully owned as well as franchised.

Based on enlarged issued and paid-up share capital of 330 million shares upon listing, PE for Year 2010 stood at 12.9 times with net EPS at 9.6 sen per share.

Old Town had declared the Dividend Policy of minimum 50% of the Group annual profit. Based on Year 2010 net profit at RM 31.9 million, the dividend is around 4.8 sen per share which translated into 3.8% dividend yield based on IPO price of RM 1.25.

The offered shares details as below :

Public Issue        :

·         Malaysia Public - 10 million shares

·         Directors & employees – 5 million shares

·         Identified Investors – 48.4 million shares

Below are summary on the IPO :

Financial Year Summary

Note: Old Town White Coffee is my housemate's favourite! :D

Eversendai IPO

Hi folks..so sorry for the silence.., well..what can we say.. still feeling disappointed for being unlucky on the MSM IPO. Last 2 days, we got refund from the MSM application. L Anyway, the past is the past and life goes on. Perhaps we will be luckier in our next IPO application. So moving on, let discuss on Eversendai IPO..shall we?

Eversendai had made official offering last Wednesday; 15-June-2011 and the offering is scheduled to be last to a week later, 21-June-2011.

Source: Eversendai Prospectus

Lets discuss about the company background first ya..Eversendai which incorporated in Malaysia back in 1993, are internationally recognized and established structural steel turnkey contractor and power plant contractor.

Before entering Middle East market, the group involved in various structural steel works for buildings in Malaysia such as Dayabumi, Shah Alam Proton car plant, KL Tower, KLCC, and also KL Sentral.

The group then entered the Middle East market in 1996 and awarded with few Mega project including Burj Al Arab, Emirates Tower, Gate building, Dubai Mall – Dubai, Khalifa Stadium, New Doha international Airport – Qatar, Capital Gate Building – Abu Dhabi, Kingdom Center – Saudi Arabia, and also world tallest building in the world, Burj Khalifa at 828 metres / more than 160 stories high.

 

 

In general, the group had presented in many landmark projects, not only in Malaysia but also Singapore, Thailand, Philippines, Indonesia, Hong Kong, Oman, Saudi Arabia, Bahrain, Qatar and UAE.

The Group had name themselves as one of the expertise in power plant construction works such as Jana Manjung Coal power plant, Tanjung Bin Coal power plant, Jimah coal power plant and currently undertaking North Chennai power plant project in India.

Summary of awarded contract value from year 2008 – 2010 are as below :

Back to the IPO business, the IPO priced at RM 1.70 for retail and will be subject to 95% of institutional price, whichever lower.

A total of 232.19 million shares to be offered which translated into 30% of the enlarge share capital after the IPO of 774 million shares.

The offered are details as below :

i. Institutional Offering : 202.04 million shares
ii. Retail Offering :
    · Malaysia Public - 20 million shares

    · Directors & employees – 10.15 million shares

 

 

Below are summary on the IPO :

Financial Year Summary

MSM IPO – What Say You?

There have been many arguments over the IPO performance after 2 straight poor debut IPO, namely UOADEV & XOX.

Whatever the arguments are, we have successfully applied for MSM IPO today, in view of better earning & profit expected for MSM in years to come. MSM IPO priced at 10.2 times PE at RM 232M profits for Year 2010.

MSM plan for at least 50% dividend payout yearly which translated of around 16 – 17 cents per share, closed to 5% of it reference retail price at RM 3.38.

Furthermore, MSM shown improvement in its 1^st Quarter financial year ended 31 March 2011. At 5 - 10% improvement in profit, the dividend will increase to 18 – 19 cents per share, which translated to around 5.5% dividend payout ratio, in which should be better than bank saving!

Even though MSM is not expecting to grow much from the domestic sugar consumption growth, but MSM will be a stable stock from dividend point of view.

Nevertheless, MSM is ambitious in Sugar Refining Business since it’s also plan for takeovers, strategic acquisitions & investment in the region, particularly in South-East Asia.

To date, the company has successfully penetrated niche markets overseas, such as Pakistan, for sugar used in pharmaceuticals.

2nd Poor IPO Debut in a Row - XOX

 
XOX made poor debut last Friday. Even though the IPO has been oversubscribed by 13.2 times, the listing of XOX plunge 35% on its 1^st day listing, down 28 cents from its IPO price of RM 0.80 and closing at RM0.52. The stock seems to continue loosing this morning but ramp up in the afternoon session closing 0.5 cents higher at RM 0.525.

Poor debut is likely due to reaction from frustrated investors on the poor 1^st Quarter financial report released just a day before listed. The quarterly report of a net loss of RM 1.67 million for 3 months period ended 31 March 2011. Investors would like to see a better earning and profit for the 1^st quarter after the company projected earning and profit will grow by 10 times from Year 2010.

Furthermore, few analysts were saying that XOX lacked both financial and operation records since the company had been loss-making for the past 4 years.

However, there are some analysts who still positive on the company’s outlook said that the profit taking activity by investors could be a knee-jerk reaction to XOX's first-quarter results.

“The worries are probably overplayed. (But) XOX's expenses to boost its brand awareness were necessary or else it will just lose market share to competitors.”

View on Jun/Jul 2011 IPO

According to official & unofficial sources that we figure, there will be 4 new IPOs to be closely launch from one another, namely:

*Financial2you prediction

After poor UOA Poor debut yesterday, many have re-evaluated their thought on either to participate or not participate in IPO. Therefore,  to us it is  very important to have at least brief information by vetting through the released Prospectus although it might sometimes elaborating the ‘good’ side of the company. We think UOADEV still have a good chance to shine in near / mid term..

If you are shortage of fund, (which could be in our case too..hihi) need to pick the at least a promising IPO. From our point of view, MSM & Bumi Armada would be the better stocks upon listing. MSM is already at 50 times subscription for institution allocated shares despite offering over 200 million shares. What would be the subscription for retailer which only offer 28 million shares?

On the other hand, Bumi Armada which is one of Ananda precious assets is very much popular after the success stories of Astro & Maxis. Furthermore, Bumi Armada is under O&G sector having ‘Outperfom’ call by most of Financial institution despite of World Economic slow growth.

However, should you have additional fund, you should not overlook Eversendai either. According to the news, Eversendai involves in most of Mega Project either in Malaysia or Middle East. Having said, the stock will attract foreign fund due to its appearance and good track records in World Class Jobs.

Well..those are our thoughts..what about yours?

MSM IPO - Related post

Hi all,

Here is an article we discover from Bloomberg in relation to MSM IPO expected price..Interesting..Happy reading!
 

MSM Malaysia may price IPO at RM3.50

MSM Malaysia Holdings Bhd, which bought billionaire Robert Kuok’s sugar refining business two years ago, may price its initial public offering at RM3.50 per share amid strong demand, at the top end of a projected range, two people familiar with the sale said.

Institutions have bid for 50 times more shares than available, said the people who declined to be named because the information is confidential. The Kuala Lumpur-based company, a unit of state-owned Felda Global Ventures Holdings Sdn Bhd, will continue taking orders until June 14, according to its prospectus.

Malaysia’s biggest sugar refiner may raise RM891 million based on its original offer size, said two other people familiar with the share sale on May 31, who couldn’t be identified. This would make it the Southeast Asian nation’s second largest IPO since state oil and gas company Petroliam Nasional Bhd spun off its petrochemicals business in a record RM12.8 billion offering in November.

The Federal Land Development Authority, popularly known as Felda, originated in 1956 as a government agency tasked with handling the resettlement of Malaysia’s rural poor. Felda Global, its commercial arm, bought Malayan Sugar Manufacturing Co Bhd for RM1.22 billion two years ago from PPB Group Bhd, a company controlled by the family of Kuok, Malaysia’s so-called “Sugar King”.

MSM Malaysia Chief Executive Officer Chua Say Sin couldn’t be immediately reached by phone for comment at his office today.

UOA Development Bhd, a property developer, made its debut on the Malaysian stock exchange today after raising RM1.05 billion. -- Bloomberg

Read more: MSM Malaysia may price IPO at RM3.50

Disappointing Debut for UOADEV

As all of you are aware,UOA Development Bhd, a Malaysia developer is making is debut today but the stock fell to RM 2.48 (3.42pm),  - below it’s IPO price. UOA’s institutional price has been fixed at RM2.60 and the final retail price at RM 2.52. The indicative retail price during prospectus issuance was RM2.90.

The stock however climb back at RM 2.59, above its retail price with 780,964 shares being traded, the most active stock. At the closing, UOADEV market capital stood at RM 3.097 billion.

The stock on Monday release it's first Quarter net profit of RM 130 million. 

RHB Research Institute had valued UOA at RM3.45, in line with its valuations on IJM Land Bhd.

“The implied price-to-earnings and price-to-book based on our RM3.45 indicative fair value are 18 times and 2.9 times for FY11, which are reasonable based on the sector’s overall valuations," the research house said.

According to a local dealer, "The sentiment is negative around property developers for now as many expect interest rates to go up in the near term,". But adds, the company has a good track record and a solid balance sheet with total assets exceeding MYR 1 billion and the IPO proceeds will bring down the debt to about MYR 35 million from close to MYR 350 million. The property developer raised MYR 1.1 billion from its IPO. "This will give it an opportunity to go for more land acquisitions for future earnings growth."

Bumi Armada IPO - Related News

Below is related article in regards to Bumi Armada IPO quoted from Reuters..Happy reading!

Malaysia's Bumi Armada IPO to raise $1 billion-sources

KUALA LUMPUR/SINGAPORE, May 4 (Reuters) - Malaysian oil and gas services provider, Bumi Armada, plans to raise nearly $1 billion from its initial public offer, the largest offer in Malaysia since the listing of Petronas Chemicals last year, sources with direct knowledge of the deal told Reuters.


"It is a $1 billion IPO, which values the company at about 20 times price-earnings for its 2011 earnings, and 16 times for 2012," a source told Reuters on Wednesday.


The sources could not be identified as they were not authorised to speak to the media.


Bumi Armada's Chief Executive Officer Hassan Basma could not be reached for comment.


The company filed a draft prospectus for its IPO with the country's securities regulator.


Bumi Armada said it plans to sell 878.6 million shares, of which 644.3 million are new shares and the rest are existing shares held by its present shareholders through the IPO


The draft prospectus did not detail the timeline of the share offer or the composition of shares that will be made available to institutional and retail investors, as is the practice for draft filings in Malaysia.


Bumi Armada specialises is an offshore support specialist, and is the only Malaysian company that owns floating production storage and offloading (FPSO) vessels, which carry a premium lease rate.

The IPO, which will be one of the largest announced in Southeast Asia this year, has been delayed several times in the past few years.


Bumi Armada was privatised in 2003 by tycoon T. Ananda Krishnan, and a planned relisting in 2008 was delayed due to the global financial crisis. A subsequent relisting plan was also shelved.


One fund manager said the Malaysian market had appetite to support an IPO of Bumi Armada's size.


"I don't know whether it's the same company as it was in 2003 when it delisted, because I've been told they've injected other assets," MIDF Amanah Asset Management's Chief Executive Officer Scott Lim told Reuters, saying he needed more information on the company before deciding whether to invest in the stock.


The Malaysian oil and gas sector has been identified as one of the key economic areas under the government's economic transformation programme, which aims to boost investment and raise the national income level.


The country has also seen significant investment commitments from foreign companies, such as a total of $4.9 billion by Exxon Mobil and Royal Dutch Shell (RDSa.L), to develop new assets in the country, the government has said.[ID:nL3E7CB02X]


The joint global coordinators for the IPO are CIMB , Maybank and Credit Suisse, which are also joint bookrunners with RHB , CLSA and UBS , according to the draft prospectus. (Additional reporting by Julie Goh; Editing by Anshuman Daga)

Bumi Armada IPO

Hi all,

Today, we would like to share with you on Bumi Armada IPO, which is scheduled to be listed just after MSM Holding. From one source that we read, Bumi Armada IPO will be made official early July and will be listed by end of July. Good news to those who plan to take part in both MSM & Bumi Armada IPO isn't it? Those successful applicants from MSM IPO still have the chance to cash out just after MSM debut on Bursa.

If the news on as much as 234.4 million shares to be offered to Malaysia public is true, it will be a bonus since the chances should be higher for retailer like us..ye la.. after disappointed with MSM IPO which offered only 14 million shares. Therefore, please spare some cash for this O&G counter yah..

We’ll post updates for this interesting IPO once available. Stay tune! :D

MSM IPO to be listed on 28 June 2011

Hi all,

Some updates on MSM IPO, the prospectus is already out yesterday 2 June 2011. Sharing with you some of the important information that we gather from the prospectus for your reference..

 

 

As all of you know, MSM is the leading sugar producer in Malaysia. In Year 2010 alone, MSM produced approximately 945,000 mt of refined sugar which accounted 57% of total sugar production in Malaysia.

For financial year 2010, MSM PATAMI stood at RM 232.9 from RM 2,168.6 Million in revenue in which 88.5% of the revenue comes from domestic sales.

In Year 2011, unaudited financial report for 3 months ended 31 March show a jump in PAT from RM 12 million to RM 62 million in the same period last year. As at 31 March 2011, MSM total assets reached RM 1.796 billion.

 

 

MSM IPO will be priced at RM 3.38 per shares for retailer but subject to 97% of Institutional Price which ever lower. Price determination date will be on 15 June 2011, a day after the institutional closing day.

Upon listing, MSM Market Capital will be close to RM 2.4 billion


 

MSM plan for dividend pay-out-ratio of 50% of the PAT.

Below is update on the summary of MSM Malaysia Holdings Bhd as promised before. You may refer to previous summary here


 

Financial Year Summary



UOA IPO - Updates on Final Price

Hi folks, sharing with you some updates we gather on UOA IPO...

Yesterday, UOA have officially set the IPO price at RM 2.60 for institutional & RM 2.52 for retail application. Although the price is about 9% lower than the earlier target, the IPO still raise about RM1.053 billion which makes them the largest IPO after Petronas Chemicals last year.

Refund of around RM0.38 per share is schedule to be refunded to the successful applicants within 10 days from the price setting which is on the 27-May-11.

Updated below the summary of the IPO. Refer to here on previous IPO summary.

Source: Bursa Malaysia

IPO - MSM Malaysia Holdings Bhd

Hi folks,

As I mentioned previously on my previous entry here, there will be few IPOs to be listed in Bursa Malaysia, and I already shared with you on UOA Development Bhd. So today, would like to share with you on MSM Malaysia Holdings Bhd.

I would say, MSM Malaysia Holding would be one of the sweetest IPO this year..hehe...why? because it is the sugar refining arm of Felda Group. :D. This IPO is poised to create a lot of excitement among the investors not only to the local but also the foreign.

The official prospectus is not out yet, but according to some of the sources that we gone through, stated that the IPO will be offering 234.56 million shares as details below :

                              i.            Institutional : 206.44 mil shares

                                                             ii.            Retails : 28.12 mil shares

 
Looking at the above, obviously retail investors would be disappointed with just less than 12% of the offered shares allocated to the retailers.

Indicative price for this IPO is ranging from RM 3.50 - RM 3.80 depending on the institutional price to be determine in the later date. The proposed IPO is expected to generate between RM 800 million – RM 900 million cash.

At this point of time you may refer to the following summary of MSM Malaysia Holdings Berhad ..will be updated once we got new findings..

*Source: Bstar, Thestar online

XOX IPO Related Post

Hi folks,

Below is related post from the star online, posted yesterday on XOX, which they expect to return their profit this year..hmm..personally, it is really a big target to achieve as compared to previous year performance..well, nothing is impossible if they do the right thing..

So below for your perusal..happy reading!

KUALA LUMPUR: ACE Market-bound XOX Bhd expects to return to profitability this financial year ending Dec 31, 2011 (FY11) and grow its revenue more than 10 times on an increase in subscribers, higher average revenue per user (ARPU) and the launch of more services.

According to its prospectus, XOX, a full-fledged mobile virtual network operator (MVNO), expects a net profit of RM19.7mil for the current FY11 against a net loss of RM15.9mil posted a year ago. It also anticipates revenue to surge more than 10 times to RM249.5mil from RM20.1mil achieved in FY10.

“The industry is huge and it is still growing. We need to get the subscribers and will be launching more services going forward. Without the revenue, you can't get the net profit,” chief executive officer Ng Kok Heng said after launching its prospectus yesterday.

XOX, which is slated for a listing on June 10, currently has more than 400,000 subscribers and targets to hit one million subscribers this year.

The telco forecast that there would be 1.77 million starter packs sold to distributors at an average selling price of RM8.81 per starter pack for the current year.

“In the past three years, we have garnered a significant 20% market share in the MVNO space in the country and built a reputation for introducing innovative and customer-centric services with unbeatable value,” Ng said.

He said as an MVNO, XOX did not have to invest heavily in infrastructure. XOX currently rides on Celcom Axiata Bhd's network infrastructure.

On ARPU, Ng said XOX's average ARPU was about RM20 per month, comprising mostly pre-paid customers. However, he said with more services such e-wallet, an electronic payment service to be launched this year, its ARPU was set to increase. XOX expects the new services as well as wider availability of its products nationwide to help draw more subscribers to its stable.

“We believe that it (e-wallet) will be a lifestyle enhancer for our consumers by bringing additional convenience in making payments and various deals,” he said.

XOX's IPO entails the public issue of 46.8 million new ordinary shares at an initial public offering (IPO) price of 80 sen each, raising RM37.4mil in proceeds for the group. Of the 46.8 million public issue shares, 29.8 million shares will be allocated for private placement for eligible identified investors, 9.5 million shares to be allocated to eligible directors, employees and business associates of XOX and 7.5 million for the public.

Asked if the IPO shares of 10 sen par value to be issued at 80 sen were expensive, Ng said it was “relative”.

XOX plans to allocate RM23.2mil from the proceeds of its IPO for working capital, RM6.2mil for capital expenditure, RM5mil for payment to creditors and the balance RM3mil for listing expenses.

XOX - The Latest IPO

Hi folks..it's been a while huh since the last entry..

Ok, straight to the point, for your info, the latest IPO annnouced yesterday is XOX. It is a Mobile Virtual Network Operator (MVNO)which is partnering with Celcom Axiata where XOX utilizes Celcom's nationwide mobile network infrastructures.

We are not going to discuss this XOX IPO in detail as we (as of me and my housemate) are not really interested with this IPO. Why meh? Because..the financial situation does not look convincing as they are still in "Red"

Suffice to share with you the company summary for your reference:

New Bank BLR Rate

Hi all, as mentioned in previous entry, BLR has increased by 0.3% just recently right? Let me share with you some history on increase of this BLR as below:

Quite frequent isn't it for 2010? Would history repeat itself again this coming July?

 Now, am sharing with you the latest bank BLR Rates for your reference:

 *Source: horlic

Malaysian IPO

Hi all,


Today I wish to share with you a bit on Malaysian IPO..Wanna know? Let me ask you this..

Do you know that 12 IPOs which were out early this year has successfully debut higher than their offered price?

Yes..indeed they are..making Malaysian IPO once again turns out to be very2 eye-catching..In addition to that, half of the shares are currently trading at 40% higher than the initial price. The latest IPO Company named Boilermech, listed almost 3 times the offered price!

So, how do you see 2^ndhalf 2011 would be?

Yup, you are right, we would see few 'big' company to be listed in Bursa Malaysia starting with UOA Development. Others such as Bumi Armada, MSM Holding, Pavilion, Gas Malaysia, AirAsiaX are waiting for their turn and should attract local and foreign investors.

Let us go through details of the UOA Development this time around..shall we?

1. UOA Development Bhd

UOA Development is a property development, construction and property investment company. Current development is in Bangsar South Cityone of MSC-status centre in KL. It is one of the leading property developer in KL.

UOA currently have a total of saleable and lettable are of approximately 329,733 sq m of properties with estimated GDV of RM 2.07Billion to be completed over the next 3 years.

Prospectus for UOA Development officially published and open for investor view on 18-May-2011. In total, the IPO offers 407mil shares as below :

                                                               i.      Institutional : 337 mil shares

                                                             ii.      Retails : 70 mil shares

       -  10 mil shares – eligible directors & employees

       -    30 mil shares – Bumiputera

       -     30 mil shares – Public

Final price will be determined on 26-May-2011, after closing for Institutional Offering, and will be the lower of :

                                                               i.      The retail price (RM2.90)

                                                             ii.      97% of the institutional price

IPO/Company Summary

*Sources : Thestar online, UOA Group, Malaysia Property News

Financial Year Summary