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Latest Forum Topics / Kim Eng  Post Reply
Maybank plan S$1.4B takeover of Kimeng Holding
keppfly
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07-Jan-2011 00:14     
 
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 Alert Admin 		REQUEST FOR LIFTING OF TRADING HALT

* Asterisks denote mandatory information
 
Name of Announcer * KIM ENG HOLDINGS LIMITED  
Company Registration No. 198900204D  
Announcement submitted on behalf of KIM ENG HOLDINGS LIMITED  
Announcement is submitted with respect to * KIM ENG HOLDINGS LIMITED  
Announcement is submitted by * Eunice Ho Pek Nai  
Designation * Chief Financial Officer  
Date & Time of Broadcast 06-Jan-2011 18:55:05  
Announcement No. 00119  
 
 
>> ANNOUNCEMENT DETAILS
The details of the announcement start here ...
 
Date of Lifting of Trading Halt * 07-01-2011  
Time of Lifting of Trading Halt * 0900 hours  
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teeth53
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06-Jan-2011 18:32     
 
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 Alert Admin 		Malaysia Maybank may need 500mln rgt to bid for Kim Eng units

KUALA LUMPUR, Jan 6 (Reuters) - Malaysia's top lender, Maybank , will finance its purchase of Singapore broker Kim Eng Holdings through a mix internal and external funds, its chief executive Abdul Wahid Omar said on Thursday. Wahid told a press conference that in addition to the $1.4 billion purchase price for Kim Eng, Maybank may have to find an additional 500 million Malaysian ringgit ($163 million)if required to launch an offer for the brokerages subsidiaries.

($1 = 3.068 Malaysian Ringgits)

(Reporting by Min Hun Fong)
((y-sing.liau@thomsonreuters.com)(+603 2333 8083)(Reuters
Messaging: y-sing.liau.thomsonreuters.com@reuters.net))


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teeth53
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06-Jan-2011 12:59     
 
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https://www.ketrade.com.sg/page/SLQG_NewsArticleFrame.jsp?ARTICLE_ID=4778401

(adds detail on offer, background on Singapore deals)
By Min Hun Fong and Saeed Azhar

 KUALA LUMPUR/SINGAPORE, Jan 6 (Reuters) - Maybank , Malaysia's biggest lender, will make an offer to buy Singapore brokerage Kim Eng Holdings for $1.4 billion in the biggest ever deal involving a securities house in the city-state.

This would be the first major deal in the industry in Singapore since 2005, when Malaysia's CIMB bought the brokerage unit of G.K. Goh Holdings for $146 million and comes at a time when Southeast Asian markets are on a roll.

Maybank said that it is buying a 44.6 percent stake in Kim Eng from a unit of Taiwan's Yuanta Financial Holdings <2885.TW> and the family that owns the Singapore broker for S$3.10 per share, a premium of about 15 percent to Wednesday's closing price.

It is also making a conditional mandatory offer for the remaining shares it does not own. Japan's Mitsubishi UFJ Securities also owns about 29 percent of Kim Eng and it was not clear whether it will sell the shares or not. The deal is expected to broaden Maybank's sources of overseas revenue following its entry into Pakistan, Vietnam and Indonesia to offset slowing growth in Malaysia's increasingly crowded financial market.

Besides Singapore, Kim Eng also has a large operation in Thailand, where it is the biggest foreign broker in terms of market share and is also active in Philippines and Malaysia. "It should be positive for Maybank as it will broaden its overseas penetration," said Kaladher Govindan, research head at Malaysia's TA Securities.

Maybank and Kim Eng shares rose nearly 3 percent on Wednesday before being suspended from trade on Thursday. Shares in Kim Eng, which has a market capitalisation of about $1.26 billion, have risen over 35 percent since mid-December, when reports emerged of an impending stake sale.

(Editing by Raju Gopalakrishnan)
((Raju.Gopalakrishnan@thomsonreuters.com))

Keywords: MAYBANK/

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teeth53
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06-Jan-2011 12:54     
 
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http://pdf.reuters.com/sgxnews/sgxnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20110106:nSN1610172

Value @ S$3.10 cents
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bsiong
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06-Jan-2011 12:25     
 
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Maybank to make $1.81b offer for Kim Eng
WRITTEN BY THOMSON REUTERS   
THURSDAY, 06 JANUARY 2011 10:50
Maybank (MBBM.KL), Malaysia’s biggest lender, will make a US$1.4 billion ($1.81 billion) offer for Singapore brokergage Kim Eng Holdings (KEHS.SI), Kim Eng said on Thursday.

The offer translates to $3.10 per share for Kim Eng.
 
Maybank agreed to buy 89 million shares or about 15.4% from the family which owns Kim Eng and is buying another 29.19% from Taiwan’s Yuanta Securities Financial Services.
 
The two transactions are worth a combined $798.5 million.
 



/theedge/

 
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teeth53
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06-Jan-2011 11:23     
 
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http://www.bloomberg.com/news/2011-01-06/maybank-said-to-plan-1-4-billion-bid-for-broker-kim-eng.html

Hot money (US $) coming to buy up KimEng Holding ??.

One and only one available here and no more Securities house ??.

Should be in Sing dollars S$1.8 bil :|), instead of S$1.4bil.....:}(

Cantonese sounded like death. Must sound like Huat, Huat..Ahhh..S$1.8Bil..FATT..FATT :))
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