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楼主: APULA

【SAMUDRA 7185 交流专区】东洋工程

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发表于 20-1-2015 05:53 AM | 显示全部楼层
Date of change
19/01/2015
Name
Dato' Nik Abdul Aziz bin Mohamed Kamil
Age
71
Nationality
Malaysian
Type of change
Demised
Designation
Deputy Chairman
Directorate
Independent & Non Executive
Qualifications
Dato’ Nik Abdul Aziz bin Mohamed Kamil graduated from the University of Malaya in 1966 with a Bachelor of Arts Degree. He subsequently obtained a Postgraduate Diploma in Personnel Management and a Master in Management from the Middlesex University in England and the Asian Institute of Management in Philippines respectively. He also attended the Senior Executive Programme at the London Business School.
Working experience and occupation
Dato’ Nik Abdul Aziz bin Mohamed Kamil has over thirty-seven (37) years of working experience in the human resource management. He had been in the senior management of PETRONAS since 1987 until his retirement. In 1997, he set up his own business, NA & Associate Sdn. Bhd., a company involved in human resource training and skills management.
Directorship of public companies (if any)
Acoustech Berhad

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 楼主| 发表于 29-1-2015 07:16 PM | 显示全部楼层
本帖最后由 icy97 于 29-1-2015 07:29 PM 编辑

東洋5.04%股權場外易手
2015-01-29 10:34
http://biz.sinchew.com.my/node/109609

(吉隆坡28日訊)東洋工程(SAMUDRA,7185,主板貿服組)週二有722萬股或5.04%股權在場外易手。

根據交易所資料顯示,該批股權以48仙交易,總值347萬令吉。

該公司大股東為聯合創辦人拿督車平傑(音譯)、Innoteguh私人有限公司及Trance Equity私人有限公司,分別持有17.25、13.78及8.89%的股權。(星洲日報/財經)
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发表于 1-2-2015 01:49 AM | 显示全部楼层
Notice of Interest Sub. S-hldr (29A)
KEJURUTERAAN SAMUDRA TIMUR BERHAD

Particulars of Substantial Securities Holder
Name
Trance Rex Sdn. Bhd.
Address
No. 5-2, Jalan BK5A/3A,
Bandar Kinrara,
47100 Puchong,
Selangor Darul Ehsan
NRIC/Passport No/Company No.
1113626-K
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary Shares of RM0.30 each
Name & address of registered holder
Trance Rex Sdn. Bhd.
No. 5-2, Jalan BK5A/3A,
Bandar Kinrara,
47100 Puchong,
Selangor Darul Ehsan
Date interest acquired & no of securities acquired
Currency
Malaysian Ringgit (MYR)
Date interest acquired
27/01/2015
No of securities
7,222,500
Circumstances by reason of which Securities Holder has interest
Acquisition of shares via off market.
Nature of interest
Direct
Price Transacted ($$)
0.480
Total no of securities after change
Direct (units)
7,222,500
Direct (%)
5.0458
Indirect/deemed interest (units)
0
Indirect/deemed interest (%)
0
Date of notice
27/01/2015



Name
Darmendran Kunaretnam
Address
No. 1, Jalan 5/58A,
Gasing Indah,
46000 Petaling Jaya,
Selangor Darul Ehsan
NRIC/Passport No/Company No.
610826-05-5349
Nationality/Country of incorporation
Malaysian
Descriptions (Class & nominal value)
Ordinary Shares of RM0.30 each
Name & address of registered holder
Darmendran Kunaretnam
No. 1, Jalan 5/58A,
Gasing Indah,
46000 Petaling Jaya,
Selangor Darul Ehsan
Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed27/01/2015
7,222,500
0.480
Acquired27/01/2015
7,222,500
0.480

Circumstances by reason of which change has occurred
1. Disposal of shares via off market.
2. Acquisition of shares via off market by Trance Rex Sdn. Bhd. (Deemed interested by virtue of Section 6A of the Companies Act, 1965).
Nature of interest
Direct and Indirect
Direct (units)
1,850,800
Direct (%)
1.293
Indirect/deemed interest (units)
7,222,500
Indirect/deemed interest (%)
5.0458
Total no of securities after change
9,073,300
Date of notice
27/01/2015

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发表于 12-2-2015 11:09 PM | 显示全部楼层
Date of change
11/02/2015
Name
Leong Chee Keong
Age
65
Nationality
Malaysian
Type of change
Redesignation
Previous Position
Director
New Position
Chairman & Director
Directorate
Independent & Non Executive
Qualifications
Mr. Leong Chee Keong had completed his Marketing & Public Relations course at Stamford Executive Centre, Singapore and Management and Marketing training in Tokyo and Osaka, Japan in year 1977.
Working experience and occupation
Mr. Leong Chee Keong started his career with a printing equipment company as Marketing Manager in Singapore from year 1970 to year 1975. He was then attached to one (1) of Japan's largest trading houses, Kanematsu-Gosho Ltd and held a senior management position from year 1976 to year 1986. He was the Chief Executive Office of Safeguards Oceanic Holdings Sdn. Bhd. ("SOH") and its Group of Companies from year 1981 to year 2007 before becoming Chairman of SOH. He is aslo the Managing Director of Prima Utama Holdings Sdn. Bhd. since year 1988. He was an Executive Director of Gem Travel & Tours Sdn. Bhd. from year 1994 to year 2010. His present activities include the overseeing of various companies involved in trading, logistics, food & beverage and the hospitality industry.
Directorship of public companies (if any)
Nil
Family relationship with any director and/or major shareholder of the listed issuer
Nil
Any conflict of interests that he/she has with the listed issuer
Nil
Details of any interest in the securities of the listed issuer or its subsidiaries
Ordinary Shares:-

Direct - 200,000 shares;
Indirect - 25,000 shares held through his spouse, Madam
Chim Yee Mei;
Indirect - 80,000 shares held under Prima Utama Holdings Sdn. Bhd. in which he has interest.

Warrants:-

Direct - 50,000 warrants
Indirect - 12,500 warrants held through his spouse, Madam
Chim Yee Mei;
Indirect - 90,000 warrants held under Prima Utama Holdings Sdn. Bhd. in which he has interest.

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发表于 25-2-2015 03:54 AM | 显示全部楼层
Whether the corporate proposal involves the issuance of new type
and new class of securities?
No
Types of corporate proposal
Others
Details of corporate proposal
Conversion of Irredeemable Convertible Unsecured Loan Stocks
No. of shares issued under this corporate proposal
40,000,000
Issue price per share ($$)
MYR 0.300
Par Value ($$)
MYR 0.300
Latest issued and paid up share capital after the above corporate proposal in the following
Units
183,277,800
Currency
MYR 54,983,340.000
Listing Date
25/02/2015

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发表于 1-3-2015 04:19 PM | 显示全部楼层
SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2014
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2014
31/12/2013
31/12/2014
31/12/2013
$$'000
$$'000
$$'000
$$'000
1Revenue
3,377
2,434
5,850
4,875
2Profit/(loss) before tax
3,312
3
4,387
24
3Profit/(loss) for the period
2,746
2,769
3,704
5,062
4Profit/(loss) attributable to ordinary equity holders of the parent
2,723
2,772
3,669
5,090
5Basic earnings/(loss) per share (Subunit)
1.90
1.94
2.57
3.56
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


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 ($$)
0.6670
0.6610

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发表于 1-3-2015 05:48 PM | 显示全部楼层
Type
Announcement
Subject
PRACTICE NOTE 16 / GUIDANCE NOTE 2
INITIAL ANNOUNCEMENT
Description
KEJURUTERAAN SAMUDRA TIMUR BERHAD (“KSTB”) - ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 16 (“PN16”) OF THE MAIN MARKET LISTING REQUIREMENTS (“MAINLR”) OF BURSA MALAYSIA SECURITIES BERHAD (“BURSA SECURITIES”)
We act for and on behalf of KSTB.

Further to the announcements made by the Company on 3 April 2014, 2 May 2014, 2 June 2014, 1 July 2014, 2 July 2014, 1 August 2014, 2 September 2014, 1 October 2014, 3 November 2014, 1 December 2014, 2 January 2015 and 4 February 2015 in relation to the Practice Note 17 (“PN17”) status of the Company, the Board of Directors of KSTB wishes to announce that KSTB had triggered the cash criterion pursuant to Paragraph 8.03(1) and PN16 of MainLR of Bursa Securities based on the unaudited quarterly financial statements for the quarter ended 31 December 2014 as announced on 27 February 2015.

The Company had on 16 February 2015 notified Bursa Securities of its condition. Bursa Securities had replied vide its letter dated 17 February 2015 notified KSTB that it is a cash company pursuant to Paragraph 8.03(1) and PN16 of MainLR and KSTB is required to immediately make the initial announcement in accordance with the requirements prescribed in Paragraph 2.1 of PN16 of MainLR for public release upon KSTB’s Board of Directors’ approval of the unaudited quarterly financial statements for the quarter ended 31 December 2014.

Please refer to the attachment for further information.

This announcement is dated 27 February 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1888697
Attachments

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发表于 5-3-2015 02:29 AM | 显示全部楼层
Notice of Interest Sub. S-hldr (29A)
KEJURUTERAAN SAMUDRA TIMUR BERHAD

Particulars of Substantial Securities Holder
Name
Seamless Excellence Sdn. Bhd.
Address
No. 2A-2-2, Jalan BK5A/3B,
Bandar Kinrara,
47100 Puchong,
Selangor
NRIC/Passport No/Company No.
1020017-H
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary Shares of RM0.30 each
Name & address of registered holder
Affin Hwang Asset Management Berhad
Pledged Securities Account for Seamless Excellence Sdn. Bhd.
Suite 11-01, 11th Floor,
Menara Keck Seng,
203 Jalan Bukit Bintang,
55100 Kuala Lumpur, Wilayah Persekutuan
Date interest acquired & no of securities acquired
Currency
Malaysian Ringgit (MYR)
Date interest acquired
24/02/2015
No of securities
10,000,000
Circumstances by reason of which Securities Holder has interest
Acquired via market (Conversion of Irredeemable Convertible Unsecured Loan Stock)
Nature of interest
Direct
Price Transacted ($$)
0.300
Total no of securities after change
Direct (units)
10,000,000
Direct (%)
5.45
Indirect/deemed interest (units)

Indirect/deemed interest (%)
Date of notice
03/03/2015


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发表于 5-3-2015 02:30 AM | 显示全部楼层
Notice of Interest Sub. S-hldr (29A)
KEJURUTERAAN SAMUDRA TIMUR BERHAD

Particulars of Substantial Securities Holder
Name
Seamless Excellence Sdn. Bhd.
Address
No. 2A-2-2, Jalan BK5A/3B,
Bandar Kinrara,
47100 Puchong,
Selangor
NRIC/Passport No/Company No.
1020017-H
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary Shares of RM0.30 each
Name & address of registered holder
Affin Hwang Asset Management Berhad
Pledged Securities Account for Seamless Excellence Sdn. Bhd.
Suite 11-01, 11th Floor,
Menara Keck Seng,
203 Jalan Bukit Bintang,
55100 Kuala Lumpur, Wilayah Persekutuan
Date interest acquired & no of securities acquired
Currency
Malaysian Ringgit (MYR)
Date interest acquired
24/02/2015
No of securities
10,000,000
Circumstances by reason of which Securities Holder has interest
Acquired via market (Conversion of Irredeemable Convertible Unsecured Loan Stock)
Nature of interest
Direct
Price Transacted ($$)
0.300
Total no of securities after change
Direct (units)
10,000,000
Direct (%)
5.45
Indirect/deemed interest (units)

Indirect/deemed interest (%)
Date of notice
03/03/2015


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发表于 5-3-2015 02:31 AM | 显示全部楼层
Name
Sterling Honour Sdn. Bhd.
Address
515, Block A, Kelana Business Centre,
97, Jalan SS7/2,
46200 Selangor
NRIC/Passport No/Company No.
1021769-K
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary Shares of RM0.30 each
Name & address of registered holder
Affin Hwang Asset Management Berhad
Pledged Securities Account for Sterling Honour Sdn. Bhd.
Suite 11-01, 11th Floor,
Menara Keck Seng,
203 Jalan Bukit Bintang,
55100 Kuala Lumpur, Wilayah Persekutuan
Date interest acquired & no of securities acquired
Currency
Malaysian Ringgit (MYR)
Date interest acquired
24/02/2015
No of securities
20,000,000
Circumstances by reason of which Securities Holder has interest
Acquired via market (Conversion of Irredeemable Convertible Unsecured Loan Stock)
Nature of interest
Direct
Price Transacted ($$)
0.300
Total no of securities after change
Direct (units)
20,000,000
Direct (%)
10.9
Indirect/deemed interest (units)

Indirect/deemed interest (%)
Date of notice
03/03/2015

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发表于 19-3-2015 01:50 AM | 显示全部楼层
需时物色新核心业务 东洋工程申请延长1年

二零一五年三月十八日 晚上十一时二十六分
(吉隆坡18日讯)被列为PN17作业守则公司的东洋工程有限公司(SAMUDRA,7185,贸易服务组)宣布,它正向证券委员会提出另外12个月的延长期限申请,以落实一项新核心业务的收购。

该公司是于去年以8000万令吉代价出售东洋石油服务私人有限公司后,失去核心业务,而被列入PN17作业守则。

在致给大马交易所的文件中,东洋工程也表示,它将向大马交易所提出申请,从PN17公司转列为PN16公司,即一家现金公司。

与此同时,东洋工程指出,它将寻求根据上市条例第8.03(4)条文作出调整,该条文指明,一家现金公司需要把至少90%的现金和短期证券纳入在于国家银行授权金融机构内开设的户头,并由一名保管人操作。

在这项条例下,现金公司有责任确保户头内的数额不被提取,除非用作证券委员会批准的一项新核心业务收购,或按比例分发予股东们。

截至2014年12月31日,东洋工程拥有现金和银行结存1亿2379万令吉。

该集团是于2014年4月3日被列为PN17作业公司。

根据大马交易所上市条例,一家PN17公司需要在列入该守则后的12个月内提呈一项重组计划。

东洋工程已在其最新财务声明中透露,它有意维持其上市地位。

在脱售东洋石油服务所得的8000万令吉资金当中,东洋工程表示,它已拨出7710万令吉以收购潜在新业务和资产。【光华日报财经】

Type
Announcement
Subject
PRACTICE NOTE 16 / GUIDANCE NOTE 2
OTHERS
Description
KEJURUTERAAN SAMUDRA TIMUR BERHAD (‘‘KSTB” OR THE ‘‘COMPANY”)
-        EXTENSION OF TIME FOR SUBMISSION OF THE PROPOSAL TO ACQUIRE A NEW CORE BUSINESS TO THE SECURITIES COMMISSION (“SC”) FOR ITS APPROVAL PURSUANT TO PARAGRAPH 8.03(5) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (“BURSA SECURITIES”) (“LISTING REQUIREMENTS”) (“PROPOSED EXTENSION OF TIME FOR SC SUBMISSION”)
-        MODIFICATION TO THE REQUIREMENTS SET OUT IN PARAGRAPH 8.03(4) OF THE LISTING REQUIREMENTS IN RELATION TO THE PLACEMENT OF AT LEAST 90% OF THE CASH AND SHORT-DATED SECURITIES IN A CUSTODIAN-OPERATED ACCOUNT (“PROPOSED MODIFICATION TO CUSTODIAL ACCOUNT REQUIREMENT”)
-        REPLACEMENT OF PRACTICE NOTE (“PN”) 17 TAGGING WITH THE PN 16 TAGGING ON KSTB (“PROPOSED REPLACEMENT OF PN 17 TAGGING WITH PN 16 TAGGING”)
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the previous announcements)
We act for and on behalf of KSTB.

Further to the announcements made by the Company on 3 April 2014, 2 May 2014, 2 June 2014, 1 July 2014, 2 July 2014, 1 August 2014, 2 September 2014, 1 October 2014, 3 November 2014, 1 December 2014, 2 January 2015, 4 February 2015 and 2 March 2015 in relation to the Practice Note 17 (“PN17”) status of the Company and the Initial Announcement dated 27 February 2015 (“Initial Announcement”) in relation to the Practice Note 16 (“PN16”) status of the Company, the Board of Directors of KSTB wishes to announce that KSTB had via a letter dated 17 March 2015 apply to Bursa Securities the following:-

a. Proposed Extension of Time for SC Submission;
KSTB seeks an extension of time for a further twelve (12) month period up to 26 February 2016 to submit a proposal to acquire a new core business, to the SC for its approval.

b. Proposed Modification to Custodial Account Requirement; and
KSTB seeks modification to the requirements set out in Paragraph 8.03(4) of the Listing Requirements which stipulates that a Cash Company is required to place at least 90% of its cash and short dated securities (including existing cash balance and the consideration arising from the Disposal) in an account opened with a financial institution licensed by Bank Negara Malaysia and operated by a custodian.

c. Proposed Replacement of PN 17 Tagging with PN 16 Tagging
KSTB also seek consideration of Bursa Securities to remove the current PN17 tagging of KSTB as the Company is considered a Cash Company pursuant to Paragraph 8.03(1) of the Listing Requirements on 27 February 2015.

The aforesaid application is currently pending approval from Bursa Securities and any progress in this regard shall be announced to Bursa Securities in due course.

This announcement is dated 17 March 2015.

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发表于 23-3-2015 11:41 PM | 显示全部楼层
本帖最后由 icy97 于 25-3-2015 01:41 AM 编辑

每股48仙現金18仙憑單‧東洋工程全購

2015-03-24 11:02      
(吉隆坡23日訊)東洋工程(SUMADRA,7185,PN17公司)宣佈,該公司大股東聯合收購者,以每股48仙現金、18仙憑單,進行附條件自願全購,買下其餘股票與憑單。

保留上市地位

聯合收購者有意要保留該公司的上市地位。

較早時,該公司由於脫售核心業務,而使它成為一家淨現金公司,列入PN17公司的行列。

該公司在文告中指出,Trance Rex有限公司、大股東拿督許必傑、達曼德南、許清全(人名譯音)等聯合收購者,獻議進行附條件自願全面收購行動,以便收購其餘尚未持有的1億3千989萬4千900股股票,或占公司76.27%股權,每股收購價為現金48仙。

上述聯合收購者也獻議以每單位現金18仙的代價,收購其餘尚未持有的4千971萬7千450單位的2013/2018年憑單,或占後者的69.92%的憑單數額,每單位收購價為18仙。

目前為止,上述聯合收購者持有該公司的23.73%股權,以及30.08%的憑單;包括Trance Rex有限公司持有該公司的3.94%股權,以及拿督許必傑則持有13.46%股權及20.73%的憑單。

許清全則是許必傑的兒子,以及公司董事及大股東之一,持有5.33%股權及8.06%的憑單。(星洲日報/財經)


Type
Announcement
Subject
TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS)
Description
KEJURUTERAAN SAMUDRA TIMUR BERHAD - RECEIPT OF NOTICE OF VOLUNTARY TAKE-OVER OFFER FROM RHB INVESTMENT BANK BERHAD ON BEHALF OF TRANCE REX SDN BHD, DATO' CHEE PECK KIAT @ CHEE PECK JAN, DARMENDRAN A/L KUNARETNAM AND CHEE CHENG CHUN (COLLECTIVELY REFERRED TO AS THE "JOINT OFFERORS")
The Board of Directors of Kejuruteraan Samudra Timur Berhad ("KSTB") ("Board") wishes to announce that KSTB has on even date received a notice of voluntary take-over offer ("Notice") from RHB Investment Bank Berhad on behalf of the Joint Offerors to acquire all the remaining securities as follows:-

i. all the remaining ordinary shares of RM0.30 each in KSTB ("KSTB Shares") not already held by the Joint Offerors;

ii. all the outstanding warrants 2013/ 2018 in KSTB ("Warrant(s)") not already held by the Joint Offerors ("Offer Warrant(s)"); and

iii. any new KSTB Shares that may be issued prior to the closing date of the Offer (as defined below) arising from the exercise of the outstanding Warrants not already held by the Joint Offerors,

(items (i) and (iii) are collectively referred to as the "Offer Share(s)")

at a cash consideration of RM0.48 per Offer Share ("Share Offer Price") and RM0.18 per Offer Warrant ("Warrant Offer Price"), respectively ("Offer").

The Offer Shares and the Offer Warrants shall be collectively referred to as the "Offer Securities".

Darmendran a/l Kunaretnam ("Darmendran"), who is the Non-Independent Executive Director of KSTB, is deemed interested in the Offer by virtue of him being a Joint Offeror for the Offer as well as a director and substantial shareholder of Trance Rex, which is a Joint Offeror for the Offer. Chee Cheng Chun, who is the Non-Independent Executive Director of KSTB, is deemed interested in the Offer by virtue of him being a Joint Offeror for the Offer. Darmendran and Chee Cheng Chun (collectively referred to as the "Interested Directors") have abstained and will continue to abstain from deliberating and voting at all relevant board meetings of the Board in relation to the Offer.

In accordance with the Malaysian Code on Take-Overs and Mergers, 2010, the Board (save for the Interested Directors) will appoint an independent adviser to advise the Board (save for the Interested Directors) and holders of the Offer Securities ("Holders") in relation to the Offer ("Independent Adviser"). The appointment of the Independent Adviser will be announced later.

Holders are advised not to take any action until receipt of the Independent Advice Circular to be issued by the Independent Adviser.

A copy of the Notice is attached herewith and the same will be posted to the Holders within seven (7) days from the date of this annuncement.

This announcement is dated 23 March 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1910609
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发表于 7-4-2015 10:09 PM | 显示全部楼层
本帖最后由 icy97 于 7-4-2015 10:29 PM 编辑

Kejuruteraan Samudra Timur Berhad ("KSTB")- What to make of the Takeover offer?
07/04/2015
http://stockresearchasia.com/1/post/2015/04/kejuruteraan-samudra-timur-berhad-kstb-what-to-make-of-the-takeover-offer.html

KSTB has recently been the subject of a takeover attempt by its co-founder, Dato' Chee Peck Chia, who together with his concert parties, announced a conditional voluntary takeover offer (the "Offer") on 23 March 2015 for all remaining shares not owned by them. The offer price of RM0.48 per share is at a small premium to the last traded price before the takeover announcement and a significant discount to its last reported NTA per share as at 31 December 2014.

Background

Up until 2014, KSTB had been engaged in the core business of providing tubular handling equipment and running services as well as tubular inspection and maintenance services for companies in the oil and gas industry. It was also in the business of providing land rig services. However, that began to change in November 2013 when it entered into an agreement to dispose of its entire interest in Samudra Oil Services Sdn Bhd ("Samudra Oil"). Concurrently, KSTB also disposed of its 2 land rigs.

With the disposals, KSTB is effectively left with a relatively small tubular inspection and maintenance services business. As a result, the Company triggered Practice Note 17 ("PN17") of the Bursa listing rules giving it until 2 April 2015 to acquire a new core business in order to maintain its listing status. The Company subsequently triggered Practice Note 16 of the Bursa listing rules as a cash company on 27 February 2015. The Company has applied for an extension of the deadline to acquire a new core business to 26 February 2016. The outcome of this application is currently pending.

Conditional Voluntary Takeover Offer by Dato' Chee and Concert Parties

On 23 March 2015, Dato' Chee Peck Kiat, his son Chee Cheng Chun and Darmendran a/l Kunaretnam (collectively "Joint Offerors"), made a conditional voluntary offer for all outstanding shares not held by the Joint Offerors amounting to 76.72% of the total outstanding shares of the Company.  The all cash offer was  RM0.48 per share. Concurrently, the Joint Offerors[3] also made an offer of RM0.18 for all outstanding warrants of the Company not held by them amounting to 69.92% of the total warrants in issue.

Our Views

Success of the Offer lies in the hands of a few shareholders

With sizeable stakes in the Company concentrated in the hands of a few key shareholders (We will call them “Key Shareholders” here), the success of the Offer depends very much on their willingness to accept the Offer terms.

We do not think any of the Key Shareholders holding significant shares have any compelling reason to put up a competing offer. Should they wish to thwart the takeover attempt by the Joint Offerors, inaction may be the best course of action. Furthermore, the board of KSTB had also announced that it does not intend to seek an alternative offer.

Offer Price is at a premium to adjusted NTA representing a decent valuation of the remaining tubular inspection and maintenance business  

The offer price of RM0.48 per share is only at a small premium over the last traded price of KSTB prior to the Offer announcement. It is also at a significant discount to its last reported NTA of RM0.67 per share as at 31 December 2014.

However, taking into account adjustments from shares issued arising from conversions of the ICULS issue and warrants as well as its recent dividend payout of 4.5 sens per share, we estimate that the offer price is actually at a premium of 9.8% to KSTB's adjusted NTA. See Figure 3 below for computation.

For the past 5 financial years, the remaining tubular inspection and maintenance service segment has contributed an average of RM 1.53 million in pre tax earnings equivalent to a fully diluted pre-tax earnings per share of just 0.6 sens.

As such, the offer premium over NTA per share implies a valuation of approximately 7 times profit before tax for the tubular inspection and maintenance services business, which is neither too expensive or cheap in the current environment.

Takeover timing needs to be taken into consideration too

Further taking into consideration that the Company is already past the first deadline of 2 April 2015 for submission of a regularisation plan to Bursa Securities to continue its listing status and with the further extension of such deadline to 26 February 2016 uncertain, we believe existing KSTB shareholders should see the Offer as a welcome insurance in the event that the Company is forced to delist.

Recommendations

We believe shareholders should wait and see if the application by KSTB to extend the deadline to acquire a new business to 26 February 2016 is approved before making a decision on the Offer. We estimate that they will likely have between 3-4 weeks time while awaiting Bursa's decision. In the event that the extension is rejected by Bursa, we believe that the RM0.48 cash offer provides an adequate compensation for shareholders to exit their investments. Should the extension be approved, KSTB will have until 26 February 2016 to acquire another new business to stay listed. In this case, even if shareholders decide to hold on to their shares, we believe that the downside will be limited given that the bulk of KSTB's assets consist of cash.

For investors not vested in the Company as yet, there is little risk but limited upside in buying in at the current price of RM0.48 per share pending acquisition of a new core business
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发表于 24-4-2015 02:11 AM | 显示全部楼层
Subject
INDEPENDENT ADVICE CIRCULAR TO THE HOLDERS IN RELATION TO THE CONDITIONAL VOLUNTARY TAKE-OVER OFFER
Remarks

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4715461
Attachments

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发表于 26-5-2015 04:57 AM | 显示全部楼层
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
1Revenue
2,175
2,460
8,025
7,335
2Profit/(loss) before tax
5,513
-1,002
9,900
-978
3Profit/(loss) for the period
5,061
-4,394
8,765
668
4Profit/(loss) attributable to ordinary equity holders of the parent
5,043
-4,389
8,712
701
5Basic earnings/(loss) per share (Subunit)
2.75
-3.07
4.76
0.49
6Proposed/Declared dividend per share (Subunit)
4.50
0.00
4.50
0.00


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 ($$)
0.5040
0.6610

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发表于 19-6-2015 04:02 AM | 显示全部楼层
Notice of Person Ceasing (29C)
KEJURUTERAAN SAMUDRA TIMUR BERHAD
Particulars of Substantial Securities Holder
Name
STERLING HONOUR SDN. BHD.
Address
Suite C-2-5-1, Solaris Dutamas,
Jalan Dutamas 1,
Kuala Lumpur
50480 Wilayah Persekutuan
Malaysia.
NRIC/Passport No/Company No.
1021769-K
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary shares of RM0.30 each
Date of cessation
01 Jun 2015
Name & address of registered holder
Affin Hwang Asset Management BerhadPledged Securities Account for Sterling Honour Sdn. Bhd.Suite 11-01, 11th Floor,Menara Keck Seng,203 Jalan Bukit Bintang,55100 Kuala Lumpur, Wilayah Persekutuan
Currency
Malaysian Ringgit (MYR)
No of securities disposed
20,000,000
Price Transacted ($$)

Circumstances by reason of which Securities Holder has interest
Disposal of shares
Nature of interest
Direct
Date of notice
17 Jun 2015

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发表于 19-6-2015 04:03 AM | 显示全部楼层
Notice of Person Ceasing (29C)
KEJURUTERAAN SAMUDRA TIMUR BERHAD
Particulars of Substantial Securities Holder
Name
OVAL TRIANGLE SDN. BHD.
Address
No. 2A-2-2, Jalan BK5A/3B,
Bandar Kinrara,
Puchong,
47100 Selangor
Malaysia.
NRIC/Passport No/Company No.
1052913-V
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary shares of RM0.30 each
Date of cessation
01 Jun 2015
Name & address of registered holder
Affin Hwang Asset Management BerhadPledged Securities Account for Oval Triangle Sdn. Bhd.Suite 11-01, 11th Floor,Menara Keck Seng,203 Jalan Bukit Bintang,55100 Kuala Lumpur, Wilayah Persekutuan
Currency
Malaysian Ringgit (MYR)
No of securities disposed
10,000,000
Price Transacted ($$)

Circumstances by reason of which Securities Holder has interest
Disposal of shares
Nature of interest
Direct
Date of notice
17 Jun 2015

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发表于 19-6-2015 04:07 AM | 显示全部楼层
Notice of Person Ceasing (29C)
KEJURUTERAAN SAMUDRA TIMUR BERHAD
Particulars of Substantial Securities Holder
Name
SEAMLESS EXCELLENCE SDN. BHD.
Address
No. 2A-2-2, Jalan BK5A/3B,
Bandar Kinrara,
Puchong,
47100 Selangor
Malaysia.
NRIC/Passport No/Company No.
1020017-H
Nationality/Country of incorporation
Malaysia
Descriptions (Class & nominal value)
Ordinary shares of RM0.30 each
Date of cessation
01 Jun 2015
Name & address of registered holder
Affin Hwang Asset Management BerhadPledged Securities Account for Seamless Excellence Sdn. Bhd.Suite 11-01, 11th Floor,Menara Keck Seng,203 Jalan Bukit Bintang,55100 Kuala Lumpur, Wilayah Persekutuan
Currency
Malaysian Ringgit (MYR)
No of securities disposed
10,000,000
Price Transacted ($$)

Circumstances by reason of which Securities Holder has interest
Disposal of shares
Nature of interest
Direct
Date of notice
17 Jun 2015

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发表于 20-7-2015 11:04 PM | 显示全部楼层
SAMUDRA - DECLASSIFICATION AS A PN17 COMPANY
KEJURUTERAAN SAMUDRA TIMUR BERHAD


SAMUDRA is no longer considered to be a Practice Note 17 (“PN17”) company. Bursa Malaysia Securities Berhad ("Bursa Securities") has approved SAMUDRA’s application to be de-classified as a PN17 company given, amongst others, that the Company is considered as a Cash Company pursuant to Paragraph 8.03 of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) as of 27 February 2015 and that SAMUDRA no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Listing Requirements.


SAMUDRA will be de-classified as a PN17 company effective from 9.00 a.m., Tuesday, 21 July 2015.


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 楼主| 发表于 20-7-2015 11:15 PM | 显示全部楼层
本帖最后由 icy97 于 20-7-2015 11:18 PM 编辑
icy97 发表于 20-7-2015 11:04 PM
SAMUDRA - DECLASSIFICATION AS A PN17 COMPANY

SAMUDRA is no longer considered to be a Practice Not ...

東洋工程脫離PN17
財經股市20 Jul 2015 22:38
http://www.chinapress.com.my/node/639352

(吉隆坡20日訊)東洋工程(SAMUDRA,7185,主要板貿服)獲馬證交所放行,本週二(21日)起脫離PN17公司行列。

馬證交所在報備文告中指出,根據主要板上市條例8.03,截至今年2月底,東洋工程已屬于現金公司(cash company),故不再抵觸PN17上市條例。

“馬證交所批准東洋工程脫離PN17公司申請,並宣布週二上午9時開始生效。”

在消息推動下,東洋工程全日看漲,最高企55仙水平,閉市時揚6仙,掛54仙,成交量65萬5200股。

該公司是在2014年2月獲德斯狄尼(DESTINI,7212,主要板貿易)獻購旗下業務,過后成為一家現金公司。
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