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What is the time-table to buy over Public shares of Kim Eng ?
April 3, 2011, 12:19 p.m. EDT
Mitusbishi UFJ unit mulls selling Kim Eng stake
TOKYO (MarketWatch) -- Mitsubishi UFJ Securities Holdings Co. is considering selling off its 29.9% stake in Singapore brokerage Kim Eng Holdings Ltd., after Malaysia's top financial group said it would seek full ownership of the unit, a person familiar with the matter said Sunday.
The contemplated sale comes as Mitsubishi UFJ Morgan Stanley Securities Co., which was launched in May 2010, posted a loss of roughly about Y80 billion on its bond trading. If the Japanese brokerage sells its stake in Kim Eng, which is worth tens of billions of yen, that would help cover the trading loss.
It's unclear if the contemplated sale is related to the loss.
Mitsubishi UFJ Financial Group Inc. (MTU, 8306.TO) was weighing the sale before the loss for other reasons. The brokerage unit of MUFG has been discussing whether to sell or keep its stake in Kim Eng since Malaysia's top financial services group, Maylayan Banking Berhad (1155.KU), or Maybank, announced in January that it plans to buy a 44% stake in the brokerage. Maybank said at the time it also wanted to buy the remaining outstanding shares in a tender offer.
MUFG isn't a majority shareholder, and Maybank and MUFG's rival, Mizuho Financial Group Inc. (8411.TO), have a business tie-up, another person familiar with the matter said.
If Maybank acquires full ownership of Kim Eng, it would be worth roughly Y120 billion. In November 2007, Mitsubishi UFJ Securities entered into an operating alliance with Kim Eng and took a 4% stake in the Singapore brokerage. Since then, the Tokyo brokerage has boosted its stake in Kim Eng, which has a big presence in the secondary business in South East Asian markets.
Thai Kim Eng sees higher 2011 profit, Maybank bid
BANGKOK, Jan 28 (Reuters) - Kim Eng Securities (Thailand) Pcl, Thailand's largest brokerage, expects higher turnover on the Thai stock market to lift profits this year, when it might get a takeover offer from Malaysia's Maybank.
Malayan Banking Bhd (Maybank) is buying a 44.6 percent stake in its Singaporean parent, Kim Eng Holdings, but it has not said whether it would also move for the subsidiaries dotted around Southeast Asia.
Montree Sornpaisarn, chief executive of Kim Eng Securities (Thailand), said he was looking forward to an "exciting year", anticipating that the effective takeover of the Singapore parent would result in a tender offer for his company.
"It really is a perfect combination," Montree said in an interview."
"Once Maybank has finished with the offer in Singapore, giving them a controlling stake of over 50 percent, they'll make a tender offer for Kim Eng here," he said. "The price might not be that much higher than the current market price."
It shares stood at 14.50 baht at the midsession break on Friday, giving it a market capitalisation of $273 million.
On Thursday, Kim Eng Securities (Thailand) posted a 13 percent rise in 2010 net profit to 806 million baht ($26 million), beating market expectations.
"With a 10-15 percent rise in average daily trade expected this year, we should see a higher profit based on that scenario," Montree said. ($1=30.79 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould)
|
2011-01-10 |
2011-01-06 |
KIM ENG HOLDINGS LIMITED |
Malayan Banking Berhad ("Maybank") |
Substantial Shareholder |
Buy |
# Others |
257559264 |
3.10 |
|
2011-01-10 |
2011-01-06 |
KIM ENG HOLDINGS LIMITED |
Aseam Credit Sdn Bhd ("Aseam Credit") |
Substantial Shareholder |
Buy |
# Others |
257559264 |
3.10 |
|
2011-01-10 |
2011-01-10 |
KIM ENG HOLDINGS LIMITED |
LAU WAI KWOK |
Director |
Sell |
Sales in Open Market at Own Discretion |
1263000 |
3.050 |
// insider trade //
Possible Mandatory Unconditional Cash Offer - Dealings Disclosure
Nomura Singapore Ltd (“Nomura”) announced, for and on behalf of Aseam Credit Sdn Bhd (the “Offeror”), a wholly-owned subsidiary of Malayan Banking Berhad (“Maybank”), that, subject to the satisfaction of the Pre-Condition (as defined in Section 2.2 below), the Offeror intends to make a mandatory conditional cash offer (the “Offer”) for all the ordinary shares (“Shares”) in the capital of Kim Eng Holdings Ltd (the “Company” or “Kim Eng”) at S$3.10 in cash for each Offer Share.
On 6 January 2011 , the Offeror entered into separate conditional share purchase agreements (the “Share Purchase Agreements”, and each a “Share Purchase Agreement”) with each of Mr Ronald Anthony Ooi Thean Yat (“RO”) and Yuanta Securities Asia Financial Services Ltd (“Yuanta”, and together with RO, the “Vendors”). RO has agreed to sell and procure the sale of, and the Offeror has agreed to purchase, 89,082,698 Shares (the “RO Sale Shares”), representing approximately 15.44 per cent. of the Shares in issue as at the date of this Announcement, for an aggregate cash consideration of S$276,156,363.80 (the “RO Consideration”), being S$3.10 in cash for each RO Sale Share. Yuanta has also agreed to sell, and the Offeror has agreed to purchase, 168,476,566 Shares (the “Yuanta Sale Shares”, and together with the RO Sale Shares, the “Sale Shares”), representing approximately 29.19 per cent. of the Shares in issue as at the date of this Announcement, for an aggregate cash consideration of S$522,277,354.60 (the “Yuanta Consideration”), being S$3.10 in cash for each Yuanta Sale Share.
(Adds background, comment) By Min Hun Fong KUALA LUMPUR, Jan 6 (Reuters)
- Malaysia's Maybank will acquire a stake in Singapore stock broker Kim Eng from a Taiwanese investor, a source with direct knowledge of the deal told Reuters on Thursday. There were no immediate details on pricing but the Edge Singapore reported Maybank planned a 4.2 billion ringgit ($1.4 bilion) bid for Kim Eng.
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. 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. "It should be positive for Maybank as it will broaden its overseas penetration," said Kaladher Govindan, research head at Malaysia's TA Securities.
Taiwan's Yuanta Financial Holdings owns about 28 percent of Kim Eng but it may have acquired more shares after the last filing. Japan's Mitsubishi UFJ Securities owns a similar-sized stake in the brokerage.
A Maybank official said the company would hold a press conference later on Thursday but declined to elaborate. A Kim Eng official declined comment on a possible stake sale to Maybank and said a statement would be issued later in the day.
This would be the first major deal in Singapore's competitive brokerage industry 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 Asia markets are on a roll.
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.
(Additional reporting by Raju Gopalakrishnan,; writing by Niluksi Koswanage and Liau Y-Sing; Editing by Lincoln Feast) (niki.koswanage@thomsonreuters.com)(+603 2333 8035)
KUALA LUMPUR, Jan 6 (Reuters) - Malaysia's Maybank is to acquire a stake in Singaporean stock broker Kim Eng from a Taiwanese investor, a source with direct knowledge of the deal told Reuters on Thursday.
Taiwan's Yuanta Financial Holdings <2885.TW> owns about 28 percent of Kim Eng. Shares in Maybank and Kim Eng were suspended from trade on Thursday. A Maybank official said the company would hold a press conference later in the day but declined to elaborate.
(Reporting by Fong Min Hun, Writing by Niluksi Koswanage; editing by Liau Y-Sing)
SINGAPORE, Jan 6 (Reuters) - Singapore stock broker Kim Eng Securities has requested for a trading halt on its shares, it said on Thursday.
Kim Eng said in December it had been approached by "potential interested parties" for a stake purchase in the firm, but did not name the potential buyers.
(Reporting by Charmian Kok)((charmian.kok@thomsonreuters.com)(+65 6403 5666)
Kim Eng's RSI has been above 70% for the past 3 weeks. How long can this last? another wk ? The blue Macd is going to cut the red signal curve. Will $2.24 be the support ?
contd
“Mitsubishi UFJ already owns 29% of Kim Eng and if they cross 30% they will have to make a general offer because that’s the SGX rule,” said a local trader.
“There might be some strategic partnership but I don’t think they will make a major change to the business in Singapore,” he added.
The EDGE
Shares of Singapore stock broker Kim Eng (KEHS.SI) rose as much as 4.5% in early trade on Monday after it said it has been approached by “potential interested parties” for a stake purchase in the firm.
At 9:36 a.m., Kim Eng shares were trading at $2.34 on a volume of 810,000 shares.
“The company has received approaches from potential interested parties in relation to a possible acquisition of shares in the capital of the company,” Kim Eng said in a statement on Friday evening.
The firm did not name the potential buyers, but traders said Mitsubishi UFJ Securities is a strong contender.
KIM ENG HOLDINGS LIMITED (CO. REG. NO. 198900204D)
HOLDING ANNOUNCEMENT
From time to time, the Company is approached by and/or engages various parties in discussions
to pursue business opportunities or concerning the strategic direction of the Company, with a
view to maximizing value for all shareholders. The Board of Directors of the Company wishes to
announce that the Company has received approaches from potential interested parties in relation
to a possible acquisition of shares in the capital of the Company. However, this may or may not
lead to a general offer being made for the Company. There is no assurance that any definitive or
binding agreement will result from these discussions.
Shareholders of the Company are therefore advised to exercise caution when dealing in their
shares in the Company.
BY ORDER OF THE BOARD
Ronald Anthony Ooi Thean Yat
Chairman & CEO
Date: 17 December 2010
| Kim Eng approached by parties interested in buying its shares |
| WRITTEN BY BLOOMBERG |
| FRIDAY, 17 DECEMBER 2010 17:16 |
Kim Eng Holdings, a Singapore securities broker, has been approached by unidentified parties that may be interested in buying its shares, the company said in a statement to the Singapore stock exchange today. Kim Eng said the approaches may lead to a general offer for the company.
/theedgesingapore/icomeireadipost FYI//
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Bc alot down but only dear Kin Eng still stand UP.
But its time for Kim Eng to move also...........
Cheers.
cathylmg ( Date: 03-Aug-2010 18:01) Posted:
What is so unusual?
pharoah88 ( Date: 03-Aug-2010 17:57) Posted:
UNusual ?  |
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What is so unusual?
pharoah88 ( Date: 03-Aug-2010 17:57) Posted:
| UNusual ? |
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UNusual ?
Boughta few today.... looking for positive financial report next week!
time to move KE.....dun be lazy!!!!
any one receive the div.. me brought the share on 3 may
Emm maybe the riot at thailand that affect its thai sudsidiary caused its drop.
