【BSTEAD 2771 交流专区】莫实得

icy97

營收增長遭AES蠶食‧莫實得購IRAT不看好

2015-03-09 17:11      
（吉隆坡9日訊）莫實得控股（BSTEAD,2771,主板貿服組）收購IRAT產業計劃遭分析員看淡，主要是產業營收增長恐遭自動執法系統（AES）虧損蠶食乾淨。

莫實得控股在上週宣佈，建議通過認購1億2千780萬令吉新股，來換取IRAT產業私人有限公司50%股權計劃，豐隆研究對此感到些微負面，主要是IRAT產業旗下的酒店和辦公樓資產雖有望帶來正面盈利貢獻，但實際利多卻恐遭虧損連年的AES蠶食。

目前，IRAT產業持有Royale Bintang酒店、Royale Chulan酒店和Chulan Tower辦公樓，並在早前宣佈收購AES承包商——ATES和Beta Tegap私人有限公司的100%股權。

豐隆研究說，莫實得控股資產負債表不會因這項收購案嚴重受損，淨債務和淨負債比僅從59億令吉和一倍擴大至60億令吉和1.02倍。

“雖然IRAT產業收購案意在擴大集團營業額來源，但礙於AES全面執行陣痛期冗長，我們對此持中和意見。”

莫實得估值仍遭低估

不過，該證券行認為，莫實得控股估值仍遭低估，加上季度淨週息率高企和市場仍未反映潛藏價值利多，因此維持其“買進”和5令吉54仙目標價不變。

莫實得控股今日窄幅震盪，開盤起5仙至4令吉65仙，但過後股價因收購計劃遭分析員唱衰，最低見4令吉58仙，跌2仙，最終收在4令吉62仙，起2仙。（星洲日報／財經‧報道：洪建文）

icy97

Type	Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID	BL-150309-39561
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) - RELATED PARTY TRANSACTIONS
Description	BOUSTEAD HOLDINGS BERHAD ("BHB" OR "COMPANY") PROPOSED SUBSCRIPTION OF 60,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN IRAT PROPERTIES SDN BHD ("IRAT") ("IRAT SHARES") REPRESENTING 50% OF THE ISSUED AND PAID-UP ORDINARY SHARE CAPITAL IN IRAT FOR A CASH CONSIDERATION OF RM127.80 MILLION ("PROPOSED SUBSCRIPTION")
Query Letter Contents	We refer to your Company's announcement dated 6 March 2015. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1. In relation to the 2 conditional share sale and purchase agreements entered into by Irat, dated 27 February 2015 ("SPAs") as stated in Section 2(c) of the announcement, kindly provide the following: (i) Purchase consideration, payment terms and schedule; and (ii) Details of the respective conditions precedent. 2. To state the current status and BHB's future plan or proposition (upon completion of the Proposed Acquisitions and Proposed Subscription) in relation to the AES project and its full deployment/ implementation. 3. To tabulate and elaborate the effect on net asset/ gearing after take into consideration of the Proposed Acquisition under Section 7.3 of the announcement.
Please refer to the attachment on the reply to the query letter from Bursa Malaysia dated 9 March 2015. This announcement  is dated 10 March 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1898977

Attachments BHB-ReplyToQuery(10.03.2015).pdf

icy97

讓AES變相上市

2015-03-11 11:19      
武裝部隊基金局（LTAT）連同旗下旗艦公司－－莫實得控股（BSTEAD，2771，主板貿服組），試圖接管至今仍存有非議的自動執法系統（AES），究竟是福是禍？

莫實得控股上週透過文告，建議耗資1億2千780萬令吉收購IRAT產業公司50%股權，IRAT產業剩餘的50%股權中，LTAT和IRAT控股分別持有49.17%和0.83%股權。

IRAT產業目前是吉隆坡兩項辦公樓和酒店產業業主，惟正籌備全購兩家握有AES特許經營權的承包公司－－ATES和Beta Tegap公司，這意味莫實得控股和LTAT未來可望成為AES的獨家擁有人。

對於上述收購，筆者心中實在存有不少問號；AES當年被迫擱置，關鍵原因之一是特許經營權允許承包商根據罰單數量賺取收入，這模式存有明顯利益衝突風險，亦為AES計劃的失敗埋下伏筆。

“按單收錢”的經營概念，顯然並不適合繼續應用在AES，這純粹因沒有人會相信，一家可受惠於罰單數量的承包商，能夠公平公正地代政府向違規人士開罰。

因此，莫實得控股接管AES以後，會否透過關係網和政府重洽特許經營權收入模式，相信會成為AES未來能否順利落實的關鍵之一。

另外，ATES和Beta Tegap公司在AES計劃的總投資成本，亦一直存有不小爭議。副財政部長阿末馬斯蘭在2013年杪公佈的數據顯示，兩家承包商在AES計劃的總投資額約7億1千700萬令吉。

不過，反暗中抄牌委員會（KASE）法律顧問祖海米卻指，AES系統供應商Jenoptik和Redfledx其實只收穫3億1千200萬令吉訂單，卻又和兩家AES公司提供的投資數據相去甚遠。

面對各種未知因素，莫實得控股在設定購價，以及說服投資者和民眾方面，相信面對不少難題，儘管從商業角度來看，取得AES獨家經營權確實深具意義。

此外，儘管交通部長拿督斯里廖中萊上月初強調政府並未如市場傳言般賠償10億令吉給AES承包商，惟因AES承包商向政府提出的法律控訴仍在進行中，結果仍不明朗，這亦是收購計劃的潛在風險。

平心而論，就取締超速駕駛而言，AES確實具備很好的效果，只要看駕車人士都會自動在路徑南北大道汝來路段時放慢車速，就能瞭解這點。因此，“落實AES”本身沒有問題，問題在如何以能夠讓民眾信服的方法落實。

或許，讓“AES變相上市”，就是當局想出的方法之一，因這能夠讓將AES利益散佈到廣大投資者身上，促使更多人支持AES。

然而，這如意算盤打得響嗎？（星洲日報／焦點評析：李三宇）

icy97

莫實得若完成收購‧AES或重新起跑？

2015-03-14 15:44      
（吉隆坡14日訊）一旦莫實得控股（BSTEAD,2771,主板貿服組）聯同武裝部隊基金局（LTAT）於第二季完成收購自動執法系統（AES），這項未達致營運目標的計劃將可能重新起跑。

The Edge財經周刊引述消息指出，“交通部尚未決定實施日期，但一旦交易完成，將可能很快推行。”

莫實得控股最近宣佈注入1億2千780萬令吉現金至Irat產業私人有限公司以取得其50%股權，而Irat將向BetaTegap和ATES公司收購AES特許權，有關金額未公佈。

AES計劃原訂在2012年9月推行，但遭到人民反對及警方顧慮而擱置。

消息表示，由於無法和特許權持有者達致協議，政府無法收回該合約，而交由裁仲庭裁決。

但是，過後便很少關於AES的消息，仲裁的進展也未公佈，同時傳言政府將須賠償數億令吉。

無論如何，消息指出，如今莫實得控股和武裝部隊基金局參與，如果它們願意，將可取消仲裁程序。

莫實得控股發言人受詢時表示，隨著此企業行動，其董事部將和Irat商量仲裁事宜。

“我們才展開此企業行動，將和Irat討論此項仲裁和在適當時間公佈任何相關進展。”

該發言人指出，“我們有信心此事件可迎刃而解，令AES為全國帶來正面的社會衝擊，同時確保AES可行，可創造營收和長期而言為我們貢獻淨利。”（ 星洲日報／財經）

icy97

莫实得终止收购PFC工程

财经  2015年03月16日
（吉隆坡16日讯）莫实得控股（BSTEAD，2771，主板贸服股）宣布，终止以2000万令吉收购PFC工程私人有限公司80%股权的协议。

该公司今天发文告指出，买卖双方同意，不再延长已在3月15日期满的股权买卖协议，以符合协议条款。

莫实得控股在去年8月，与PFCE公司（PFCE，7165，主板消费股）的拿督阿布达立（AbuTalib）达成股权买卖协议，建议以2000万令吉收购PFC工程私人有限公司的80%股权。

如果完成该项收购活动，莫实得控股將持有PFC工程的80%股权，剩余的20%则是由阿布达立持有。

莫实得控股是要藉著此项收购，加强油气业务，以符合该公司进一步扩展此领域的计划。

无论如何，该项买卖协议已在3月15日届满，不过买卖双方已经达成不再延长期限的共识，所以该项交易宣告中止。

莫实得控股在文告中指出，中止该项买卖协议，並不会对该公司的每股盈利和净资產带来任何影响。

该公司股票今日以4.53令吉闭市，全天上升1仙或0.22%，成交量达6万3800股。【东方网财经】

Type	Announcement
Subject	OTHERS
Description	BOUSTEAD HOLDINGS BERHAD (“BHB” OR “COMPANY”) ACQUISITION OF 8,000,000 ORDINARY SHARES OF RM1.00 EACH (“SHARES”) IN PFC ENGINEERING SDN BHD ("PFCE") REPRESENTING 80% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF PFCE FOR A TOTAL CASH CONSIDERATION OF RM20,000,000 (“ACQUISITION”)
We refer to the announcements dated 6 August 2014, 5 November 2014 and 15 December 2014 in relation to the Acquisition (“Announcements”). Unless otherwise stated, words and expressions used in this announcement shall have the same meaning as those attributed to them in the Announcements. The Board of Directors of BHB, wishes to announce that BHB and the Vendors have mutually agreed not to further extend the period to fulfill the Conditions Precedent which expired on 15 March 2015. Accordingly, the SSA in relation to the Acquisition is deemed rescinded, terminated and completely discharged pursuant to the terms of the SSA.   The Board of Directors of BHB does not foresee material financial impact to BHB as a result of the termination of the SSA in terms of the effect on earnings per share and net asset per share. This announcement is dated 16 March 2015.

icy97

莫实得获9630万合约

财经  2015年03月19日
（吉隆坡19日讯）莫实得控股（BSTEAD，2771，主板贸服股）宣布，旗下子公司--莫实得造船厂（BNS）获得国防部颁发，总值9630万令吉的合约通知书。

该公司发文告指出，这项合约是为大马皇家海军第17巡逻船舰队，供应和交付配件、提供维修及综合后勤支援服务。该合约为期3年，即日起生效。唯正式合约將在稍后签署。

莫实得控股指出，该合约预计將对公司未来盈利，带来正面的贡献。

子公司获政府续约

另一方面，莫实得重工业（BHIC，8133，主板工业股）旗下子公司--莫实得重工业BoforsAsia私人有限公司，获得国防部续约，为大马皇家海军的57毫米海军舰炮（naval guns）供应备件、维修和培训服务。

上述合约是在2月27日获得国防部的书面通知，合约总值为1560万令吉，为期3年，直到2018年；唯正式合约將在之后签署。

该公司发文告指出，预计上述合约將为公司和联营公司的2015財政年盈利带来正面贡献。

莫实得重工业董事经理丹斯里阿末南利表示，非常开心获得上述合约，而该公司將保持长期的发展策略，加强本身在国防领域的地位。

莫实得重工业Bofors Asia私人有限公司是莫实得重工业和BAE Systems Bofors Holdings私人有限公司的联营公司，两者分別持股51%和49%。【东方网财经】

Type	Announcement
Subject	OTHERS
Description	BOUSTEAD HOLDINGS BERHAD (“BHB” OR “THE COMPANY”) RECEIPT OF LETTER OF ACCEPTANCE BY BOUSTEAD NAVAL SHIPYARD SDN BHD ("BNS") FROM THE MINISTRY OF DEFENCE, AND ISSUANCE OF LETTER OF AWARD BY BNS TO BHIC NAVALTECH SDN BHD
BHB is pleased to announce that its subsidiary company, Boustead Naval Shipyard Sdn Bhd (“BNS”), has on 19 March 2015, received and accepted a Letter of Acceptance (“LOA”) from the Ministry of Defence Malaysia for the supply and delivery of spares, maintenance, Integrated Logistic Support (ILS) and training for the 17th Patrol Vessel Squadron of the Royal Malaysian Navy. Following the receipt of the LOA, BNS agreed for BHIC Navaltech Sdn Bhd (“BNT”) to undertake the administration and implementation of the Contract (“the sub-Contract”). BNT is a wholly-owned subsidiary of Boustead Heavy Industries Corporation Berhad (“BHIC”) held via Boustead Penang Shipyard Sdn Bhd.   Please refer to the attachment for details of the announcement. This announcement is dated 19 March 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1907149

Attachments BHB Annoucement (19.03.2015).pdf

icy97

獲1.12億政府合約‧莫實得漸入佳境

2015-03-20 17:03      
（吉隆坡20日訊）莫實得控股（BSTEAD,2771,主板貿服組）屬下莫實得重工（BHIC,8133,主板工業產品組）接獲大馬國防部兩項總值1億1千190萬的合約。

其中，聯號公司--莫實得海軍造船廠（BNS）接獲國防部總值9千630萬令吉的3年期合約，再將合約外包給BHIC Navaltech私人有限公司（BNT），讓後者執行為大馬皇家海軍巡邏艇第17中隊供應和運輸零件、維修，以及提供綜合後勤支援（ILS）與培訓的工作。

同時，莫實得重工51%聯營公司--莫實得重工Bofors亞洲私人有限公司也接獲國防部總值1千560萬令吉合約，以為大馬皇家海軍供應和移交零件，並為Bofors57厘米鎗枝提供維修和培訓工作，合約期限為3年。

分析
達證券指出，與總值90億令吉的6艘第二代巡邏艦合約相比，這兩項合約無疑是小巫見大巫。

“以兩項工程15%淨賺益計算，可在未來3年為莫實得重工帶來每年580萬令吉貢獻。但基於相關合約已納入2015財政年3億令吉新增合約目標內，我們維持莫實得重工盈利目標不變。”
該證券行維持莫實得控股“買進”評級，以及6令吉14仙目標價不變。

“隨著巡邏艦合約將在2015財政年全面推進，我們預期未來盈利動能將越來越好。”

受新合約入袋消息激勵，莫實得重工全日下跌4仙至2令吉20仙，母公司莫實得控股則起12仙至4令吉62仙。（星洲日報／財經）

icy97

Type	Announcement
Subject	OTHERS
Description	BOUSTEAD HOLDINGS BERHAD (“BHB” OR “THE COMPANY”) RECEIPT OF THE LETTER OF ACCEPTANCE FOR ADDITIONAL IN-SERVICE SUPPORT FOR THE SCORPENE SUBMARINES OF THE ROYAL MALAYSIAN NAVY
On 13 August 2010, the Company announced on the receipt of a Letter of Award from the Government of Malaysia ("GoM") by Boustead DCNS Naval Corporation Sdn Bhd ("BDNC") to undertake In-Service Support for two (2) units of Prime Minister's Class Scorpene Submarines for the Royal Malaysian Navy for a total contract sum of EUR193 million and RM532 million ("the Contract") and effective for the period ending 30 November 2015. BDNC is a joint venture company between Boustead Heavy Industries Berhad (“BHIC”) (60%) (through its wholly-owned subsidiary, BHIC Defence Technologies Sdn Bhd) and DCNS S.A (40%). BHIC is a subsidiary of BHB. BDNC had received and on 30 March 2015, accepted a Letter of Acceptance from the GoM dated 3 March 2015, which approved an additional ceiling contract value of RM531,201,215.00. The additional contract value is for the extension of the Contract period up to 31 May 2017.   The Contract will not have a material effect on the earnings of BHB. None of the directors or substantial shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Contract. This announcement is dated 30 March 2015.

icy97

寶實得遭索賠2934萬

財經企業2 Apr 2015 22:35
（吉隆坡2日訊）寶實得（BSTEAD，2771，主要板貿服）間接子公司寶實得Yachts私人有限公司，控告MY Sunchaser船隻船主，要求賠償38萬令吉，遭反控告索賠至少800萬美元（約2934萬令吉） 。

寶實得今日向馬證交所報備，Yachts公司于2011年8月承接為上述船隻外牆粉刷的工作，該船隻停泊在公司位于浮羅交怡島的船塢，但因后來船艙機械房發生火患以致無法繼續粉刷，被告也放棄這艘船隻，繼續將船隻停泊在該區域。

該公司指出，被告一直將船隻停泊在該地影響公司營運，于是向被告索賠38萬令吉損失，但被告卻以公司沒有盡責保護船隻安全為理由，反向公司索賠至少800萬美元（約2934萬令吉）。

寶實得指出，公司已委任律師處理這件案件，董事經諮詢，認為公司索賠是合理的，被告索賠無法律依據，因此預計不會帶來任何財政損失。【中国报财经】

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Commencement of Litigation by a Subsidiary Company In the High Court of Malaya at Kuala Lumpur, Admiralty in Personam Writ of Summons No. 27NCC-77-12/2014, Boustead Yachts Sdn Bhd (Plaintiff) vs. Sunboat Inc. Or Any Persons claiming to be the Owners of the ship or vessel known or described as “MY SUNCHASER” (Defendant)
Boustead Holdings Berhad wishes to announce that its subsidiary company Boustead Naval Shipyard Sdn Bhd’s wholly owned subsidiary, Boustead Yachts Sdn Bhd (“Plaintiff”), had on 23 December 2014 filed a Writ of Summons against the Defendant who is the owner of the vessel known as MY Sunchaser (“Vessel”).     Pursuant to the Points of Agreement dated 29 August 2011 (“Points of Agreement”) the Plaintiff agreed to provide the Defendant with exterior painting work of the Vessel to be carried out at the Plaintiff’s yard in Langkawi. On or about 9 October 2011, a fire had broken out in the engine room of the Vessel. The fire was safely extinguished but a second fire broke out on 10 October 2011 which was also extinguished shortly after. Pursuant to the fire incident, the Plaintiff was not able to continue further works on the Vessel. As at the date of filing this action, the Defendant has abandoned the Vessel and the Vessel continues to be in open space at the Plaintiff’s yard.    The Plaintiff is now claiming for outstanding hardstand charges to be paid by the Defendant to the Plaintiff commencing from 10 December 2011 and continuing in the sum of RM382,458.40 as at 22 December 2014 and a declaration that the Plaintiff is entitled to exercise a possessory lien over the Vessel or in lieu thereof the sale proceeds of the Vessel until the claim are assessed by the Court, or mutually agreed by the parties to be satisfied in full by the Defendant or by the party who is entitled to lawful ownership and/or possession of the Vessel.    The Defendant had on 23 March 2015, filed their Defence and Counterclaim against the Plaintiff. Under the Defendant’s Defence and Counterclaim, the Defendant is denying that the Plaintiff is entitled to charge for handstand, utility and any services rendered to the Vessel and is alleging that the Plaintiff acted negligently and failed to take reasonable care and precaution for the safety and security of the vessel whilst the Vessel was under the Plaintiff’s care and custody.     The Defendant is claiming for a sum no less than USD8,000,000.00 being the market value of the Vessel or such sum as may be determined by the Court as fair market value of the Vessel as at the time of the fire, the sum of USD1,200,000.00 and a sum of RM536,896.17 being the costs and expenses incurred and payments effected pursuance to the said Points of Agreement.     The Plaintiff has appointed solicitors to handle this case while its Directors, in consultation with the solicitors, are of the view that Plaintiff has a good claim and the Defendant’s counterclaim is without merit thus, no financial loses are expected. The counterclaim is not expected to have financial and operational impact to the Group. This announcement dated 2 April 2015.

icy97

莫实得冀AES业务回酬20%

财经  2015年04月06日
（吉隆坡6日讯）莫实得控股（BSTEAD，2771，主板贸服股）冀望，可在自动执法系统（AES）业务中取得介于18%至20%的回酬，並且签下12至15年期限的供应合约。

莫实得控股副主席兼董事经理丹斯里洛丁表示，该公司仍在与政府谈判AES合约详情，预料可在4月杪有结果。因此，该公司还无法预估此业务可贡献多少营业额及盈利。他补充，该公司並不会涉及AES的执法活动，如发出传票及收取罚款，而是AES系统设备供应商，负责安装、修理、保养等工作。

「儘管与政府的合约谈判还未有结果，但我们要確保可从中取得不俗的回酬。我们的回酬率目標是18%至20%，而且也希望合约期限可长达12年至15年。」

洛丁是在莫实得控股的股东常年大会后，与一眾管理层召开记者会时，如此表示。

洛丁相信，製药业务预料將是莫实得控股今年表现最亮眼的业务，因为该业务可免于经济景气下滑的衝击。该公司旗下的发马（PHARMA，7081，主板贸服股）是政府的特许药物供应商，同时也积极开拓更多私人界市场以及出口市场。

发马目前拥有4间药剂行，並计划在今年內增至10间，同时扩大药剂销售结盟网络。询及政府可能將在今年內加入「泛太平洋战略经济伙伴关系协定」（TPP），是否將衝击发马的表现，洛丁表示，儘管这將带来更激烈的竞爭，但该公司將以提升营运效率及生產力来应对。

进军油气业务

此外，针对莫实得控股在3月宣布放弃收购PFC工程私人有限公司的80%股权，洛丁强调，该公司仍有意进军油气领域，只不过在对PFC工程进行精密审核后，发现对方並不是合適的收购对象。因此，该公司已决定不寻求並购途径，而以自行建立產能的方式来进军油气业务，並將专注于平台与钻井製造领域。

另外，洛丁也相信，莫实得控股的產业业务將继续交出亮眼表现，因为其发展项目处于策略性地点，以及產品定价处于可负担水平。该公司在吉隆坡葛京（Cochrane）、雪州珍珠白沙罗（MutiaraDamansara）、柔佛等地项目的发展总值（GDV）分別达约20亿令吉、10亿令吉及略低于10亿令吉。

洛丁指出，今年预料仍將是充满挑战的一年，但莫实得控股冀望可取得盈利成长，而不是重复去年的盈利退跌局面。种植业务而言，儘管原棕油价格波动不定，但他相信莫实得控股仍將保持赚钱能力，同时，该公司將考虑退出一些非核心业务。

他披露，莫实得控股目前正在检討「充满挑战」的建筑材料业务，但还未决定是脱售整体业务或降低持股。【东方网财经】

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莫实得1.98亿认购IRAT　50%

财经  2015年04月14日
（吉隆坡14日讯）莫实得控股（BSTEAD，2771，主板贸服股）宣布，以每股2.13令吉的价格，认购涉足自动执法系统（AES）运作的IRAT產业私人有限公司的50%股权，意味著向后者注入共1亿9880万令吉的资金。

莫实得控股是分两次认购IRAT產业的新股，第一次是以1亿2780万令吉认购后者的6000万股新股，第二次是以7100万令吉认购3333万股新股。

另一方面，IRAT產业此前宣布收购涉足AES运作的ATES Vendors公司及BetaTegap公司，与ATES Vendors公司的买卖协议已转为无条件协议，而与Beta Tegap公司的买卖协议则仍在寻求符合协议中的一些条件。

除了AES运作，IRAT產业也持有吉隆坡Chulan大厦办公楼及Royale Chulan酒店產业。

莫实得控股副主席兼董事经理丹斯里洛丁发表文告表示，在持有这两个黄金地段的產业后，该公司相当正面看待其產业业务的前景，料可提升该业务的盈利潜能。

莫实得控股是通过借贷及发售永续伊斯兰债券（Perpetual Sukuk）来为此收购案融资。该公司週二也宣布，已发售其12亿令吉Junior Sukuk Musharakah项目中的第6批债券，总值6600万令吉。【东方网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	BOUSTEAD HOLDINGS BERHAD ("BHB" OR "COMPANY") SUBSCRIPTION OF NEW ORDINARY SHARES OF RM1.00 EACH IN IRAT PROPERTIES SDN BHD ("IRAT") ("IRAT SHARES") REPRESENTING 50% OF THE ISSUED AND PAID-UP ORDINARY SHARE CAPITAL IN IRAT FOR CASH
Reference is made to the announcements dated 6 March 2015 ("First Announcement") and 10 March 2015 in relation to the Proposed Subscription ("Announcements"). Unless otherwise stated, words and expressions used in this announcement shall have the same meaning as those attributed to them in the Announcements. We refer to the First Announcement where the Board announced the Company's proposal to undertake the Proposed Subscription and Proposed Additional Subscription. Accordingly, the Board wishes to announce the following: (i)    BHB has on 14 April 2015 subscribed for 60,000,000 new Irat Shares for a cash consideration of RM127.80 million ("First Subscription") and thus completed the Proposed Subscription; and (ii)   In addition to the First Subscription, the Company has on 14 April 2015 subscribed for an additional 33,333,333 new Irat Shares at the issue price of RM2.13 per Irat Share, for a cash consideration of RM71.00 million ("Second Subscription"). Please refer to the attachment for further details on the Second Subscription. This announcement is dated 14 April 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1933129

Attachments Attachment-BHB annoucement(14.04.2015).pdf

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	BOUSTEAD HOLDINGS BERHAD ("BHB" OR "COMPANY") SUBSCRIPTION OF NEW ORDINARY SHARES OR RM1.00 EACH IN IRAT PROPERTIES SDN BHD ("IRAT") ("IRAT SHARES") REPRESENTING 50% OF THE ISSUED AND PAID-UP ORDINARY SHARE CAPITAL IN IRAT FOR CASH
Reference is made to the announcements dated 6 March 2015, 10 March 2015 and 14 April 2015 in relation to the subscription of Irat Shares ("Announcements"). Unless otherwise stated, words and expressions used in this announcement shall have the same meaning as those attributed to them in the Announcements. Further to the Announcements, we would like to provide additional information, the details of which are set out in the attachment. This announcement is dated 16 April 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1935093

Attachments Attachment-BHB annoucement(16.04.2015).pdf

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BOUSTEAD HOLDINGS BERHAD

Particulars of substantial Securities Holder

Name	LEMBAGA TABUNG ANGKATAN TENTERA
Address	Tingkat 10-12, Bangunan LTAT Jalan Bukit Bintang Kuala Lumpur 55100 Wilayah Persekutuan Malaysia.
NRIC/Passport No/Company No.	ACT1011973
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary shares of RM0.50 each
Name & address of registered holder	Lembaga Tabung Angkatan TenteraTingkat 12, Bangunan LTATJalan Bukit Bintang55100 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	15 Apr 2015	10,000,000

Circumstances by reason of which change has occurred	Disposal
Nature of interest	Direct
Direct (units)	599,003,609
Direct (%)	57.92
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change	599,003,609
Date of notice	20 Apr 2015

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	BOUSTEAD HOLDINGS BERHAD ("BHB" OR "COMPANY")SUBSCRIPTION OF NEW ORDINARY SHARES OF RM1.00 EACH IN IRAT PROPERTIES SDN BHD ("IRAT") ("IRAT SHARES") REPRESENTING 50% OF THE ISSUED AND PAID-UP ORDINARY SHARE CAPITAL IN IRAT FOR CASH
Reference is made to the announcements dated 6 March 2015 ("First Announcement") and 14 April 2015 ("Second Announcement") in relation to the First Subscription and Second Subscription ("Announcements").   Unless otherwise stated, words and expressions used in this announcement shall have the same meaning as those attributed to them in the Announcements. Subsequent to the First Subscription and Second Subscription, the Board wishes to announce that BHB has on 28 April 2015 subscribed for 24,037,559 new Irat Shares at the issue price of RM2.13 per Irat Share, for a cash consideration of RM51.20 million ("Third Subscription"). Please refer to Section 2 of this announcement for the details of the Third Subscription. This announcement is dated 28 April 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/4719925

Attachments BHB- 28 April 2015.pdf

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寶實得Ikano聯手 蕉賴建總值30億商場

財經企業12 May 2015 23:00
（吉隆坡12日訊）寶實得（BSTEAD，2771，主要板貿服）與Ikano私人有限公司宣布再合作，在蕉賴興建發展總值高達30億令吉的MyTOWN購物商場，宜家（Ikea）及百盛將是主要租戶。

該公司副主席兼董事經理丹斯里洛丁今日在媒體匯報會上透露，該購物商場料在2016年底竣工，主要租戶為宜家及百盛，寶實得與Ikano各佔半數股權。

文告指出，零售部分將佔發展總值約20億令吉，住宅房產包括3棟公寓，發展總值約10億令吉。

該購物商場將有460家店面，目前出租率已達50%，預計開幕時將提高至85%。

寶實得房產部董事拿督卡查里在會上指出，希望可以在蕉賴打造另一個珍珠白沙羅（Mutiara Damansara）。

“公司在蕉賴葛京（Cochrane）一帶擁有超過20.23公頃土地，未來將陸續開發，接下來計劃包括發展辦公大樓。”

Ikano零售亞洲董事經理克里斯丁則指出，有意在國內其他地區設更多間宜家，未來4年內會看到更多分行，其中包括檳城及新山。【中国报财经】

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莫实得首季净利挫53%

财经新闻 财经  2015-05-26 12:11
（吉隆坡26日讯）种植、贸易与工业，以及重工业业务贡献减少，促使莫实得（BSTEAD，2771，主板贸服股）截至3月底首季净利，按年大跌52.84%。

不过，该公司仍宣布派发每股5仙的中期股息。该公司首季净赚4310万令吉，低于上财年同期的9140万令吉；营业额按年下跌24%，达18亿9230万令吉，去年同期为24亿9980万令吉。

副主席兼董事经理丹斯里罗丁在文告中指出，当前是备受挑战的时期，来自外围的压力，以及消费市场的观望态度，拉低集团营收。

其中，鲜果串产量和棕油产品售价下跌，导致种植业务营业额下滑32%。

同时贸易和工业业务营收跌39%，归咎于销量和燃油低迷；重工业方面则因航空业贡献较低，营收跌11%。

上述不利也抵消了产业与药剂业务收入增长，金融与投资业务盈利也稍微下跌。

但他也强调，莫实得的多元化路线，意味着财源更加广泛，像是药剂业务如今对净利贡献良多，有信心能度过当前挑战，继续确保以派息的方式奖励股东。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2015	31 Mar 2014	31 Mar 2015	31 Mar 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	1,892,300	2,499,800	1,892,300	2,499,800
2	Profit/(loss) before tax	69,500	133,300	69,500	133,300
3	Profit/(loss) for the period	43,100	91,400	43,100	91,400
4	Profit/(loss) attributable to ordinary equity holders of the parent	100	56,400	100	56,400
5	Basic earnings/(loss) per share (Subunit)	0.01	5.45	0.01	5.45
6	Proposed/Declared dividend per share (Subunit)	5.00	7.50	5.00	7.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.6600		5.6900

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EX-date	15 Jun 2015
Entitlement date	17 Jun 2015
Entitlement time	05:00 PM
Entitlement subject	First Interim Dividend
Entitlement description	First Interim Dividend of 5 sen
Period of interest payment	to
Financial Year End	31 Dec 2015
Share transfer book & register of members will be	17 Jun 2015   to   17 Jun 2015 closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHD (.)Level 17, The Gardens North TowerMid Valley City, Lingkaran Syed Putra59200Kuala LumpurTel:0322643883Fax:0322821886
Payment date	30 Jun 2015
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	17 Jun 2015
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.0500
Par Value	Malaysian Ringgit (MYR) 0.500

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種植金融短期難改善‧莫實得控股財測下砍

2015-05-26 16:59      
（吉隆坡26日訊）莫實得控股（BSTEAD，2771，主板貿服組）首季淨利慘跌99.8%，遠遠不及預期，迫使分析員出手下砍今明兩年財測9.9%至23.2%不等，認為種植和金融業務表現難在短期內改善。

肯納格研究在報告中指出，莫實得控股旗下各大業務的展望參差不一，雖然貿易製造、藥劑和重工業務可保持穩定，惟最主要的種植和金融業務，卻持續受產品價低迷和大環境欠佳等因素影響，預料繼續拖累莫實得業績。

“整體而言，我們選擇調低2015和2016年財測18%，因相信種植和金融業務貢獻有所下滑。”

豐隆研究則指出，莫實得首季核心淨利只有全年財測的6.3%，低迷表現讓分析員決定調低今年財測23.2%，明年財測亦被下修9.9%。

每季派息作風仍誘人

無論如何，豐隆認為莫實得控股的每季派息作風仍然誘人，而且仍具備很深的隱藏價值，尚未被市場發現；潛在風險則包括負債率高企和集團架構複雜，且短期盈利展望低迷。

配合首季業績出爐，肯納格決定調低莫實得控股目標價至4令吉40仙，評級亦下調至“反映大市”；豐隆研究亦把目標價下修至4令吉91仙，但重申“買進”評級不變。（星洲日報／財經‧報導：李三宇）

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前景挑戰重重‧莫實得控股淨利股息下調

2015-06-03 16:41      
（吉隆坡3日訊）莫實得控股（BSTEAD，2771，主板貿服組）業務前景充滿挑戰，2015和2016財政年淨利，以及股息目標遭分析員雙雙下調，傳統估值遭低估的特質已遭到破壞。

豐隆研究指出，莫實得控股擁有豐富的資產價值，以及誘人的週息率，估值向來被低估，但礙於莫實得種植（BPLANT，5254，主板種植組）面對鮮果串產量和原棕油價雙雙低迷、產業發展業務疲弱，以及貸款增長低迷和淨利息賺益下滑衝擊艾芬控股（AFFIN，5185，主板金融組）盈利等利空，短期集團提昇價值的可能性不大。

“有鑑於此，我們下調2015和2016財政年淨利1.8%和6.4%，以反映種植業低鮮果串產量，以及貿易臂膀除息稅前盈利（EBIT）預測。”

豐隆補充，除發馬（PHARMA，7081，主板貿服組）外，莫實得控股多數業務貢獻料下滑，恐難支撐慷慨的派息政策，預見集團2015財政年每股股息將減至18仙，比2014財政年的26仙為低。

儘管莫實得控股資產價值豐富，但產業市場情緒低迷、艾芬控股短期前景，以及種植盈利前景不理想，可能抑制集團釋放實際資產價值。

豐隆因此下調莫實得控股評級從｀買進’至｀持有’，目標價也減9.6%至4令吉44仙，以反映上市子公司股價表現，及盈利預測下調利空。（星洲日報／財經‧報導：洪建文）

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莫实得2332万脱售產业

财经  2015年06月10日
（吉隆坡10日讯）莫实得控股（BSTEAD，2771，主板贸服股）旗下间接子公司Boustead Curve私人有限公司，週三与同是莫实得控股的间接子公司Pharmaniaga物流有限公司签署买卖协议，以2332万令吉（包括消费税）脱售莎阿南一项租赁產业予后者。

Pharmaniaga物流公司是发马（PHARMA，7081，主板贸服股）旗下的独资子公司。

根据文告，Pharmaniaga物流有限公司將分3期缴付金额：第一、在土地买卖协议执行前，缴付46万4000令吉的部份定金；第二、在土地买卖协议执行时，缴付订金余额186万5600令吉；最后，在买卖协议执行的3个月內，付清2098万8000令吉的余额。

Pharmaniaga物流向Boustead Curve私人有限公司购入的莎阿南租赁產业，佔地1万1762平方米，涵盖一个仓库和2层办公室。

此项收购预料在2015年第3季完成。【东方网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	PROPOSED DISPOSAL OF LEASEHOLD PROPERTY COMPRISING A WAREHOUSE AND OFFICE AT NO. 11 JALAN  RAGUM 15/17, SEKSYEN 15, 40200 SHAH ALAM, SELANGOR BY BOUSTEAD CURVE SDN BHD (BCSB), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, TO PHARMANIAGA LOGISTICS SDN BHD
The Board of Directors of Boustead Holdings Berhad wishes to announce that Boustead Curve Sdn Bhd ("BCSB") had on 10 June 2015 entered into a Sale and Purchase Agreement (“SPA”) with Pharmaniaga Logistics Sdn Bhd ("PLSB")  in relation to the Proposed Disposal. BCSB is a wholly-owned subsidiary of Boustead Properties Berhad. Boustead Properties Berhad in turn is a wholly-owned subsidiary of the Company. PLSB is a wholly-owned subsidiary of Pharmaniaga Berhad (“Pharmaniaga”) which is a subsidiary of the Company. Please refer to the attachment for details of the announcement. This announcement is dated 10 June 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4769489

Attachments BHB - 10 June 2015.pdf