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[公司专区] 1619 DRBHICOM 多元重工業

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发表于 2011-4-20 10:43 | 显示全部楼层
DRB-HICOM wins Pos stake

uala Lumpur: Tan Sri Syed Mokhtar Al Bukhary's DRB-HICOM Bhd has won a bid to take over national postal company Pos Malaysia Bhd, people familiar with the matter said yesterday.


Business Times understands that DRB-HICOM will sign an agreement with Khazanah Nasional Bhd early next week to buy the latter's Pos Malaysia stake.

DRB-HICOM sees Pos Malaysia as a crucial fit to expand its Islamic banking operation, now parked under Bank Muamalat Malaysia Bhd.

Khazanah, the government investment arm, currently holds 30 per cent of Bank Muamalat, while the remaining 70 per cent is owned by DRB-HICOM.

It is understood that DRB-HICOM is buying Pos Malaysia from Khazanah for about RM3.60 a share. The latter currently owns 32.21 per cent of Pos Malaysia.
The deal will value Khazanah's Pos Malaysia stake at about RM623 million.

Last year, Khazanah had called an open bidding process for suitors of Pos Malaysia.

About a week ago, two companies - DRB-HICOM and Scomi Group Bhd - were shortlisted by the Khazanah board.

It is understood that the DRB-HICOM bid was the most attractive option for Pos Malaysia because of the conglomerate's plan to eventually inject Bank Muamalat, the country's second full-fledged Islamic bank, into it.

This, in turn, will provide Bank Muamalat with a much wider network nationwide.

There are currently some 692 post offices and 355 mini post offices, according to Pos Malaysia's website.

Bank Muamalat, meanwhile, has 46 branches.

For the 15 months ended March 31 2010, Bank Muamalat posted a pre-tax profit of RM142 million versus RM44.1 million in the corresponding period in 2008,

Its total assets rose to RM16.7 billion from RM14.4 billion previously.

Bank Muamalat's 2010 financial year tracked 15 months instead of 12 months because it was changing its year-end to March 31 from December 31 to coincide with its parent's financial year.

http://www.btimes.com.my/articles/posdarabf/Article/

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发表于 2011-4-20 15:26 | 显示全部楼层
多元重工业上说,截至4月20日,公司尚未收到任何来自国库控股的通知。

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发表于 2011-4-20 15:32 | 显示全部楼层
DRB-Hicom says no notification from Khazanah about Pos stake

KUALA LUMPUR: DRB-HICOM BHD [] has not received any notification from Khazanah Nasional Bhd that it had won the 32.21% POS MALAYSIA BHD [] stake.

DRB-Hicom said that as at on Wednesday, April 20, the company has yet to receive any notification from Khazanah.

“DRB-Hicom will make the appropriate announcement(s) to Bursa Malaysia Securities Bhd in a timely manner in accordance with the Bursa Securities Listing Requirements, as and when necessary,” it said in a statement to the stock exchange.

On April 13, Khazanah managing director Tan Sri Azman Mokhtar said the government's investment arm had decided on the potential buyer for its 32.21% stake in postal service provider.

"We already have a winner in mind," said Khazanah managing director Tan Sri Azman Mokhtar on Wednesday, April 13, adding that there were 50 potential buyers.

However, he declined to narrow the identity of the "winner" but said the names would be submitted to the board later this month.

Among the criteria set for the bidders are ability to provide good premium and unlock Pos Malaysia's values, he told reporters on the sidelines of Invest Malaysia 2011.

News reports and research houses had suggested that the three shortlisted bidders were DRB-HICOM Bhd, NATIONWIDE EXPRESS COURIER SER []vices and a Amanah REIT-Malaysia Pacific Corp joint venture, with offers ranging between RM3.38 and RM4.62 per share. The other two bidders were Scomi Bhd and TRICUBES BHD [].

http://www.theedgemalaysia.com/b ... bout-pos-stake.html

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发表于 2011-4-20 20:48 | 显示全部楼层
傳贏得大馬郵政股權 多元資源:未獲通知

    財經

20/04/2011 17:36

(吉隆坡20日訊)多元資源(DRBHCOM,1619,主要板工業)指出,還沒有收到國庫控股(Khazanah)針對奪得大馬郵政(POS,4634,主要板貿易)33.21%股權的通知。

 多元資源是針對《商業時報》報導向馬證交所報備,表示截至今天,公司還沒有收到國庫控股就大馬郵政股權一事的通知。

 “公司將依據馬證交所上市條例和有必要時,適時作出宣佈。”

 《商業時報》報導,指多元資源已贏得大馬郵政33.21%的股權。

 國庫控股董事經理丹斯里阿茲曼莫達在本月13日透露,已決定大馬郵政33.21%股權的潛在買家。

 但他拒絕說明出線者的身份,僅表示將在本月稍遲呈交名單給董事局。

 根據報導和分析界預測,多元資源、全國快郵服務(NATWIDE,9806,主要板貿易)和一家房產信托與馬帕斯(MPCORP,6548,主要板房產)聯營的公司,是3大候選競標單位,每股出價3.38令吉和4.62令吉。

 另兩家競標者是史葛米(SCOMI,7158,主要板工業)和Tricubes(TCUBES,0062,創業板科技股)。

http://www.chinapress.com.my/node/208771

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发表于 2011-4-21 22:28 | 显示全部楼层
DRB-Hicom: No notification on winning bid for Pos Malaysia

KUALA LUMPUR: DRB-Hicom Bhd, one of the bidders for the 32.2% stake in Pos Malaysia held by Khazanah Nasional Bhd, said it had yet to receive any notification from the government investment arm in relation to the share purchase.

The group issued a statement commenting on an article in an English daily saying that DRB-Hicom had won its bid for the stake in Pos Malaysia.

The article reported that DRB-Hicom, controlled by Tan Sri Syed Mokhtar al-Bukhary, would sign an agreement with Khazanah early next week for the share acquisition.

The daily also noted that DRB-Hicom saw Pos Malaysia as a “crucial fit” to expand Bank Muamalat Malaysia Bhd, in which the group held a 70% shareholding with Khazanah holding the balance.

Tan Sri Azman Mokhtar, Khazanah managing director, had told a news conference on the sidelines of Invest Malaysia 2011 last week that the sovereign wealth fund had completed the shortlisting process and would submit the proposal to the board for approval later this month.

Azman had also noted that Khazanah would fetch a premium from the divestment of its equity interest in Pos Malaysia. However, he declined to reveal the price.

Pos Malaysia’s share price has been drifting downward since early this month. The stock has fallen from the year’s high of RM3.67 to RM3.38 yesterday.
Azman said Khazanah had completed a shortlist of bidders for Pos Malaysia.

Based on yesterday’s closing, Khazanah’s stake in Pos Malaysia is worth about RM585 million.

When asked how would minority interests would be protected after the emergence of new major shareholder, Azman said one of the requirements for the buyer is to fulfil the social obligation to continue to deliver postal services.

Commenting on the anticipated amendment on Pos Malaysia’s land usage, he stressed that the land that was leased to the postal group might be used for other purposes but there must be provision for postal services on the tracts as well.

According to Azman, the Federal Land Commission would still hold the ownership of the land. In other words, the postal group would not be able to sell it.

Analysts and fund managers said the stake sale created uncertainties on the prospects of Pos Malaysia. They noted that the change of major shareholder could mean a change of the postal group’s future direction and the possibility of more corporate exercises, which might be in the form of related-party transactions.

If there were any related-party transaction, would it be at arm’s length and at a fair price? These are some of the issues that concern Pos Malaysia’s minority shareholders.

http://www.theedgemalaysia.com/i ... r-pos-malaysia.html

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发表于 2011-4-22 10:17 | 显示全部楼层
傳賽莫達標獲32.2%股權
大馬郵政多元資源熾熱

業績評論 2011-04-20 19:06

(吉隆坡20日訊)大馬郵政(POS, 4634, 主板貿服組)32.2%股權競標據傳花落多元資源工業(DRBHCOM, 1619, 主板工業產品組),導致兩家公司股價報漲,但多元資源工業稍後發文告澄清,表示尚未接獲國庫控股(Khazanah)的任何通知。

多元資源:未獲通知

據《商業時報》報導,國庫控股已決定以每股3令吉60仙或6億2千300萬令吉價格,將大馬郵政的32.2%股權脫售給土著企業大亨丹斯里賽莫達旗下財團多元資源工業,並會在下週初正式簽約。

受消息帶動,大馬郵政股價週三一度漲5仙或1.45%至3令吉50仙,寫新單週最高漲幅,但由於傳言中脫售價低於預期,加上多元資源工業的澄清,股價隨後回軟,終場掛3令吉38仙,跌7仙;多元資源工業亦一度揚9仙至2令吉37仙,澄清後終場掛2令吉32仙,起4仙。

多元資源工業今日針對有關“成功標獲大馬郵政”的報導發文告表示,該公司截至今日為止,尚未就有關事項接獲國庫控股任何正式的通知。

該公司表示,一旦有必要,將作出正式宣佈。

國庫控股之前表示,已經選定大馬郵政股權的得主,預料會在月杪作出宣佈。

僑豐研究認為,報導中的每股3令吉60仙售價並不如預期般誘人,只比截至本週二的3令吉45仙閉市價高出4%,而且比4令吉12仙目標價低上12%,相關脫售價也相等於2011財政年14.5倍本益比,估值與全球郵政業同儕一致。

不過,由於多元資源工業有意將旗下Muamalat銀行注入大馬郵政697家分局,預料該財團須投資巨額資金來安裝電子設備及翻新所有郵政分局,僑豐認為上述出價對多元資源工業來說,處在合理範圍內。

此外,僑豐不排除郵政法令或不會放寬的可能性,尤其是地庫用途及郵政服務,因為若有土地放寬在內,國庫可以空置地庫價值有望被釋放,而提出更高售價。

僑豐相信,將Muamalat銀行引進大馬郵政分局可營造雙贏格局;大馬郵政零售業務將受到提振,抵銷郵寄業務成長放緩。雖然大馬郵政目前有為馬銀行及興業銀行提供一些銀行服務,但鑒於Muamalat銀行計劃提供更廣泛的銀行服務,而且會安排自家職員在場,預料不會對雙方的策略性合作造成障礙。

在未有進一步消息前,僑豐維持大馬郵政4令吉12仙目標價,給予“買進”評級。最大隱憂在於旗下地庫可能不被允許用於產業發展,可能讓投資者受挫。

星洲日報/財經‧2011.04.20

http://biz.sinchew-i.com/node/46298

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发表于 2011-4-22 20:10 | 显示全部楼层
Khazanah's Pos stake goes to DRB-Hicom



Khazanah Nasional Berhad (Khazanah) has decided to sell its 32.21 per cent stake in Pos Malaysia Bhd to DRB-Hicom Bhd, a conglomerate controlled by tycoon Tan Sri Syed Mokhtar al-Bukhary.

Khazanah’s Managing Director Tan Sri Datuk Azman Mokhtar said the decision was made following a rigorous two-stage selection process initiated by it to ensure that the new shareholder will be able to bring Pos Malaysia to the next level of growth.

The divestment is made via a conditional offer with a price consideration of RM3.60 per share or RM622.79 million.

Read more: Khazanah's Pos stake goes to DRB-Hicom http://www.btimes.com.my/Current ... _html#ixzz1KFlKk36Y

http://www.btimes.com.my/Current ... /Article/index_html

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发表于 2011-4-22 21:02 | 显示全部楼层
成功收购是利好消息吗???

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发表于 2011-4-23 09:37 | 显示全部楼层
Khazanah sells 32.21% stake in Pos to DRB-Hicom for RM622.7m

KUALA LUMPUR: Khazanah Nasional Bhd has divested its strategic 32.21% stake in POS MALAYSIA BHD [] to DRB-HICOM BHD [] at RM3.60 per share or RM622.79 million, deemed a landmark divestment by the government’s investment arm of its entire stake in a major government-linked company.

Khazanah said on Friday, April 22 this decision was made following a rigorous selection process to ensure that the new shareholder will be able to bring  Pos Malaysia to the next level of growth.

"The divestment is made via a conditional offer with a price consideration of RM3.60 per share or RM622.79 million. The offer price of RM3.60 per share is subject to the modification of the special rights redeemable preference share in Pos Malaysia held by Minister of Finance (Incorporated),” it said.

On Friday, Pos Malaysia’s share price closed two sen higher at RM3.37 with 595,000 shares done while DRB-Hicom fell two sen to RM2.30 with 2.32 million units transacted.

Khazanah said the conditional offer price was subject to the variation in the use of 16 plots of identified lands owned by the Federal Lands Commissioner and leased to Pos Malaysia.

It said the current terms of the lease allows for only postal services use, while the variation provides for the inclusion of commercial use, over and above the mandatory postal use.

If the variation does not happen by Dec 31, 2011, DRB-Hicom will be refunded 10 sen per share or RM17.30 million.

Khazanah managing director Tan Sri Azman Mokhtar said: “DRB-Hicom was chosen based on their overall bid, which offers not only a defined strategy but also an executable business plan and an acceptable offer price. Their proposed strategy and business plan in turn provides an effective platform for Pos Malaysia’s growth, if adopted by the board of Pos Malaysia as a whole.”

A total of 48 parties were approached to submit their respective proposals, out of which 10 parties expressed their interest to participate and were pre-qualified at the pre-qualification phase.

At the indicative bid phase, all 10 parties were invited to submit their bids. Out of this, five parties reverted with their respective bids.

The five bidders were all given detailed and equal opportunities to meet up with Khazanah’s advisors to explain their respective strategy and business plan submission.

The bidders also had one-on-one meetings with the managements of Khazanah and Pos Malaysia. With respect to the meeting with Pos Malaysia management, which was requested by all the bidders, only publicly available information were shared with the bidders, i.e. information shared at analysts’ briefings and shareholders’ general meetings. Pos Malaysia’s board’s prior approval was obtained for these one-on-one meetings with POS management.

Khazanah said the bidders were given an opportunity to better understand the bidding process and received detailed feedback to help each of them improve their bid submission. Subsequently, all five bidders proceeded to the binding bid phase.

Out of the five bidders, four parties submitted their binding bids. The bidders submitted their bids in separate envelopes containing; (i) the strategy and business plan, and (ii) the offer price.

Khazanah said an independent evaluation panel comprising five senior professionals from the public and private sector with extensive postal and corporate experience had evaluated all the bidders’ proposal on the basis of anonymity, where the bidders’ names were coded.

It said was to ensure the panel members evaluated the strategic and business plan component purely on the basis of the content of the submission, without being prejudicial to the identity of the bidders.

The panel, with the assistance of Khazanah’s advisors, evaluated the strategy and business plans first. Based on this, the bidders were shortlisted to a final two. Subsequently, the offer price envelopes were opened and evaluated compositely.

Both shortlisted bidders were given the opportunity to present to the panel. The panel’s evaluation was based on a composite score between strategy and pricing, whereby strategy accounted for 60% and pricing 40%. Based on the composite score, the panel unanimously recommended DRB-HICOM.

Azman said: “There was a fit and proper test of the new majority shareholder which includes promoting the sustainable development of the Universal Service Obligations (USO), as well as the commitment to retain existing staff in their business plan.”

“The commitment to fulfil the social obligations under the USO (as required under the Postal Services Act, 1991) is crucial as postal services have an impact on the Rakyat, especially for those residing in remote or rural areas.”

Khazanah’s emphasis on strategy and business plans within the evaluation process does not in itself make any assumption of control or otherwise. The process required bidders having to state, in their own opinion, whether a general offer would be necessary or not as their own circumstances dictate.

Khazanah’s executive director of investments, who was the project director for this strategic divestment, Mohammed Rashdan Mohd Yusof said:

“It is the buyer’s prerogative, and not of the seller, to determine whether a GO is necessary, as only the buyer can ascertain the extent of control they exert over Pos Malaysia after they acquire the 32% stake. Furthermore, the divestment process did not reveal any information to the bidders beyond readily available market information.”

On this point, Azman said: “As a responsible seller to stakeholders including minorities and the Rakyat, our emphasis on business strategies and credibility of the bidders was to ensure that the successful bidder, via the board members they intend to proportionately install with their 32% stake, have a robust business plan to both deliver on their USO and unlock value and for them to discuss at the Pos Malaysia board.”

http://www.theedgemalaysia.com/b ... om-for-rm6227m.html

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发表于 2011-4-23 21:00 | 显示全部楼层
多元資源6.2億購32.21%‧大馬郵政花落賽莫達

大馬財經  2011-04-23 11:56
(吉隆坡22日訊)大馬郵政(POS, 4634, 主板貿服組)32.21%如預期落入丹斯里賽莫達手中,國庫控股(Khazanah)今日宣佈,經過兩個階段的龐大程序,同意以每股3令吉60仙或總值6億2千279萬令吉代價,脫售大馬郵政32.21%股權予賽莫達名下的多元資源工業(DRBHCOM, 1619, 主板工業產品組)。

每股3.60令吉
國庫控股董事經理丹斯里阿茲曼莫達發文告表示,經過嚴格的篩選程序,以確保新股東將可帶領大馬郵政走向下一個成長階段,而多元資源工業憑藉整體競標,即清晰的策略,以及可執行商業計劃和合理出價成功雀屏中選。

“若大馬郵政董事部全盤採納,他們的策略和商業計劃將為大馬郵政成長提供有效的平台。”

重視投標者商業策略信譽
他認為,作為對少數股東和國民負責的賣家,國庫控股重視投標者的商業策略與信譽,以得標者利用32%股權和健全的商業計劃,來提供普遍服務義務和釋放價值。

“新大股東歷經適當測試,其中包括在商業計劃中促進可持續發展的普遍服務義務,並承諾保留現有工作人員的承諾,其中履行普遍服務的社會責任是關鍵,因郵政服務將對國人
帶來影響,特別是那些居住在偏遠或農村地區的人。”

根據計劃,多元資源工業將以每股3令吉60仙收購大馬郵政32.21%股權,但相關出價將胥視財政部持有的特別權力可贖回優先股的修改程序,其中包括保留委任2位董事,以及取消委任主席和董事經理和制定薪酬的權利,將之交由董事部進行決定。

出價包括土地轉商業用途
此外,有關出價也包括聯邦土地委員會(FLC)鑑定的16塊出租予大馬郵政的土地用途轉換。根據現有條款,相關租賃土地僅允許進行郵政業務,有關改變是將強制性郵政用途轉為包括商業用途。

土地用途轉換不成將回退1730萬
若土地用途轉換未在2011年12月31日止完成,多元資源工業將獲回退每股10仙或1千730萬令吉。

採納開放競標程序
另一方面,阿茲曼莫達指出,作為國庫控股首次全數脫售主要政府相關公司股權的標誌性計劃,國庫控股採納涵蓋開放競標程序、績效基礎和透明篩選過程的策略性脫售程序,並透過解決大馬郵政宏觀商業和監管環境關鍵問題,以及斟酌限定投標過程的兩大階段完成。

在第一階段,大馬郵政的郵差薪酬和郵費上調等長期困擾問題獲得解決,其中郵費在2010年7月1日起上調,而郵差薪酬問題也在同月獲得解決。

第二階段則由資格預審階段來開序幕,即國庫控股委任聯昌投資銀行和麥肯錫公司(McKinsey & Company)為顧問,並鑑定48位合格海內外公司參與競標,其中10家對此表達意願參與預審階段。

隨後,國庫控股進行參考報價階段,讓10家公司對此提呈競標,其中5家給予競標回覆,而後相關競標者將與顧問進行會晤以講解各別策略和商業計劃,並與國庫控股和大馬郵政董事進行一對一會議,最終順利進入競標出價階段。

不過,只有4家公司提出競標價,並交由獨立評估委員會作出評估,以及將決選名單減至2家,最後以60%策略和40%價格的評估標準進行評估。根據綜合評分,多元資源控股獲得委員會一致推薦。

此外,國庫控股在評估過程的重點戰略和業務計劃,並未不作出任何假設或其他控制,而競標者需陳述是否需要進行全面獻購。

國庫控股投資部門執行董事莫哈末拉斯蘭說:“這是買方的權力,而不是賣方,以確定是否需要進行全面獻購,因為只有買方可確定在取得32%股權後,他們是否需要進一步提昇控制權。”

星洲日報/財經‧2011.04.23
http://biz.sinchew-i.com/node/46403

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发表于 2011-4-25 14:33 | 显示全部楼层
收购成功~ 是好事还是坏事??? 为什么今天的股价会下跌?

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发表于 2011-4-25 14:54 | 显示全部楼层
profit taking

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发表于 2011-4-25 20:31 | 显示全部楼层
本帖最后由 tracy8213 于 2011-4-25 20:35 编辑

6.22億購大馬郵政32%獲好評‧多元資源財測上調

    * 大馬財經
    * 業績評論

2011-04-25 19:14

(吉隆坡25日訊)多元資源工業(DRBHCOM, 1619, 主板工業產品組)以每股3令吉60仙或總值6億2千279萬令吉代價,標獲國庫控股(Khazanah)所持的大馬郵政(POS, 4634, 主板貿服組)32.21%股權,深獲分析員好評,長期有助強化多元資源工業的股票回酬率及進一步增強服務盈利,並多元化業務至周期性的汽車業以外業務。

多元資源工業持有MUAMALAT銀行70%股權,分析員認為,收購大馬郵政股權,也表示可以善用後者的郵政局網絡增強營運及提供金融服務。

估計這項收購計劃,將增強多元資源工業2012及2013財政年郵政達2至6%。

大馬郵政服務擴大可媲美同儕

大馬郵政則可以因此崛起成為一站式方案中心,不但為客戶提供郵政服務,也提供銀行及保險產品,進而提振其處於萌芽期的零售業務,使商業模式接近全球其他郵政及儲蓄銀行。

部份分析員認為,獻售價格對大馬郵政來說欠誘人,並沒有反映大馬郵政相關的地段價值,只足以反映其郵政業務的2011財政年的14.5倍本益比。

大馬郵政短期或面對賣壓

僑豐研究認為,大馬郵政短期或面對賣壓,但卻看好長期的上漲潛力,因多元資源工業收購後將釋放其土地價值。

大馬郵政今天在多元資源工業的收購計劃宣佈後先揚後挫,一度急挫14仙至3令吉23仙,寫下3 月25日以來的新低,閉市也以3令吉23仙全天最低價掛收;多元資源工業在標獲上述收購後,股價先升後跌,全盤一度激揚5仙至2令吉35仙,寫下4月8日的新高,下午以2令吉27仙掛收,跌3仙。

僑豐表示,多元資源工業出價3令吉60仙,只比大馬郵政上週五的閉市價溢價7%,並沒有反映大馬郵政的地段價值。

多元資源大馬郵政齊跌

上述收購的6億2千279萬令吉代價,包括若大馬郵政之土地用途轉換未在2011年12月31日止完成,多元資源工業將獲回退每股10仙或1千730萬令吉。

僑豐指出,MUAMALAT銀行是國內第二大回教銀行,上述收購方便MUAMALAT銀行擴充業務。

MUAMALAT銀行全國擁有56家分行,與大馬郵政合作,MUAMALAT銀行可提昇銀行的產品與服務至更廣泛的客戶群,尤其是通過大馬郵政全國的697間郵政局滲透至鄉區。

多元資源工業擁有UNIASIA壽險51%股權,相信也可從大馬郵政的廣泛郵政網絡受惠,以拉動保險業。

分析員指出,獻購價格雖令人失望,但多元資源工業可能需注入龐大投資在資訊工藝基建及粉飾全國的郵政局。

興業研究也認同,多元資源工業的收購將改善大馬郵政服務業的長期成長,但協同化的利益只是在中期顯現,因大馬郵政主要郵政業務面對郵費的限制及燃料價格漲升的局限。

16地段用途放寬
增強大馬郵政價值

倘若上述收購計劃在2011年6月30日完成,興業上調多元資源工業2012及2013財測分別達4.9%及6%。

黃氏唯高達研究則表示,倘若交易是70%以貸款融資,年利息為7%,納入大馬郵政股權在2012和13年分別帶來的4千261萬令吉和4千687萬令吉,多元資源工業2012及2013財政年盈利分別可增加2%及2.4%,負債在2012財政年則增至0.25倍。

豐隆研究認為,加入新股東對大馬郵政是正面發展,因大馬郵政的鑒定16塊地段的用途放寬,長期可增強大馬郵政的價值。

傳國庫控股欲售MUAMALAT 30%

另一方面,據消息透露,國庫控股或售出所持有的MUAMALAT銀行30%股權予回教銀行(BIMB, 5258, 主板金融組),進而與回教銀行合併。

熟悉此項計劃的消息透露:“並購計劃在積極討論中,預計很快將有眉目。”

星洲日報/財經‧2011.04.25

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发表于 2011-4-25 21:57 | 显示全部楼层
so meaning drb got cheap and nice POS ?

but drb still drop 2day , my warrant bleeding .....

希望明天会更好

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发表于 2011-4-25 22:12 | 显示全部楼层
看來股价已經反應消息的价值了!雖然買到馬郵政股權, 估計這項收購計劃,多元資源工業2012及2013財政年盈利分別可增加2%及2.4%,負債在2012財政年則增至0.25倍。倒部如拿來放定期還多!傷心!

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发表于 2011-4-26 17:55 | 显示全部楼层
DRB-Hicom Pos-itive on deal

DRB-Hicom Bhd
(April 25, RM2.27)
Buy at RM2.30 with target price of RM3.80: DRB-Hicom will purchase Khazanah Nasional’s 32.2% stake in Pos Malaysia for RM622.8 million or RM3.60 per share.

Of this, RM17.3 million or 10 sen per share is for 16 plots of land which will be rezoned for commercial use instead of the present postal service use. This will require an amendment to the Federal Land Commissioner’s Act by Dec 31, or 10 sen per share would be refunded. The price tag seems fair for a controlling stake, and values Pos at 14 times FY11 earnings per share (EPS) and 2.3 times book value (BV), consensus data, and a discount to the regional sector average of 15 times. The expected completion of the sale is by 2QCY11. There is unlikely to be a general offer for the rest of the shares in Pos.

Assuming the deal is 70% financed by debt at 7% interest per year, and we use consensus earnings, the acquisition would enhance DRB-Hicom’s FY12F and FY13F earnings by 2% and 2.4% respectively. And we expect gearing to rise to 0.25 times in FY12F against 0.16 times currently. There may not be immediate earnings impact, but it is a good acquisition because: (i) there will be synergies between Pos’ distribution network and DRB-Hicom’s 70%-owned Bank Muamalat, enabling a divestment of DRB-Hicom’s 30% beyond our valuation of 1.1 times BV; (ii) its longer-term return-on-equity enhancing (Pos’ 2010 ROE was 12.5% against DRB-Hicom’s 10.8%) and would enable it to further strengthen services earnings and diversify out of its more cyclical motor business; and (iii) the likely amendment of the Federal Land Act will enable Pos to encash value from its valuable landbank, which is not captured in consensus numbers.

We expect the acquisition to be sum-of-parts neutral for now, but it could be SOP accretive once Pos unlocks value from its land. Moreover, the overall higher group services earnings (50% in FY13F versus 48% currently) will support price-earnings ratio expansion to reflect DRB-Hicom’s true intrinsic value as a growing conglomerate. We value DRB-Hicom at RM3.80, implying a PER of 12.1 times FY12F EPS and 1.3 times BV against current valuations of 7.3 times and 0.8 times. — HwangDBS Vickers Research, April 25

http://www.theedgemalaysia.com/i ... -itive-on-deal.html

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发表于 2011-5-5 17:40 | 显示全部楼层
CIMB Research has Buy on DRB-Hicom at RM2.17

KUALA LUMPUR: CIMB Equities Research has a Buy on DRB-HICOM BHD [] at RM2.17, at which it is trading at a price-to-book value of 0.9 times.

It said on Thursday, May 5 the pullback for DRB-Hicom appears to be at its tail end.

“Prices have pulled back to RM2.15, its 50%Fibonacci Retracement level as well as to test its 50-day SMA at RM2.14. We expect prices to find strong support around these levels,” it said.

CIMB Research said the stock’s MACD has pulled back to its zero line while its RSI is still holding above the 40-pts mark.

“This pullback should be viewed as an opportunity to buy as the uptrend from the March 2011 lows is not over. The next upleg should take prices to a new high of RM2.55 or RM2.80. A drop below RM2.10 would trigger our stop,” it said.

http://www.theedgemalaysia.com/b ... hicom-at-rm217.html

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发表于 2011-5-12 19:34 | 显示全部楼层
BIMB Holdings Bhd has confirmed receiving notification from Khazanah Nasional Bhd and DRB-Hicom Bhd on the sale of their stake in Bank Muamalat Malaysia Bhd to the company.

Its group managing director/chief executive officer Johan Abdullah said he will bring up the matter at the board meeting on May 25, for further discussions.

"They want to sell and have identifed us as a potential buyer," he told reporters after the company''s annual general meeting here today.

Johan said if the board agrees to the proposed acquisition, BIMB Holdings will seek approval from Bank Negara Malaysia, before proceeding to negotiate with Khazanah Nasional Bhd and DRB-Hicom Bhd. - Bernama

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发表于 2011-5-14 16:29 | 显示全部楼层
多元重工业 冀与回银合并
2011/05/14 11:13:54 AM
●南洋商报

(吉隆坡13日讯)多元重工业(DRBHcom,1619,主板工业产品股)正在探讨Muamalat银行与回教银行(BIMB,5258,主板金融股)合并的可能性,而不是将Muamalat银行股权卖给回教银行。

根据多元重工业发出的文告,公司已经把信函提呈给回教银行,表达希望Muamalat银行与回教银行“联姻”的意愿,惟“还未与回教银行进行任何探索性的讨论。”

多元重工业是Muamalat银行的控股公司,持有70%股权,剩下的30%股权是由国库控股(Khazanah)所持有。

多元重工业表示:“我们希望两家银行‘联姻’是为了替两家银行增值,以及加强大马回教金融的发展。过去数年来,回教金融取得强劲增长。”

该公司指出,截至2010年杪,整个回教银行领域(包括发展金融机构)的总资产高达3508亿令吉,比2009年剧增15.7%。

依资产、融资与存款计算,回教银行领域(包括发展金融机构)占整个银行系统超过20.8%。

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发表于 2011-5-14 23:01 | 显示全部楼层
DRB-Hicom explores Bank Muamalat-Bank Islam merger, not sale plan

KUALA LUMPUR: DRB-HICOM BHD [] is exploring a potential merger of Bank Muamalat Malaysia Bhd and Bank Islam Malaysia Bhd but there are no plans to sell its shareholding in Bank Muamalat.

The company said on Friday, May 13 it had submitted a letter of expression of interest to BIMB HOLDINGS BHD [] (BIMB) to explore a potential merger of the two banks and “has yet to commence any exploratory discussions with BIMB”.

DRB-Hicom is the holding company of Bank Muamalat and it holds a 70% stake while Khazanah Nasional Bhd owns the remaining 30%.

“The interest to merge is to add value and enhance the development of Islamic finance in Malaysia which continues to register strong growth over the years,” it said.

DRB-Hicom said the total assets of the overall Islamic banking sector (including development financial institutions) amounted to RM350.8 billion at end-2010, up 15.7% from 2009.

It added the Islamic banking sector (including development financial institutions) now accounted for over 20.8% of the overall banking system in terms of assets, financing and deposits.

“A proposed merger will witness the emergence of a mega Islamic bank and is in line with our government’s call to reinforce Malaysia’s position as a leading international centre for Islamic finance and to create a home-grown bank,” it said.

http://www.theedgemalaysia.com/b ... -not-sale-plan.html

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