看看晚上的夜报，多元重工业（DRBHcom，1619，主板工业产品股）竞购国家汽车控股（Proton，5304，主板消费产品股，简称普腾） ，每股6元。
 
我们终于知道，普腾这几天为甚么涨得这么厉害了。
 
我对普腾认识不多，印象仍停留在2000-2005年那时股价总是在10令吉左右，和另一间姐妹公司国产车经销(EON) 同属高价股。
 
现金储备高
 
两者另一个相同之处是双双坐拥许多现金，不同的是国产车经销十年来一直致力于把公司利益发放回给股东，数十令吉落至除牌前的2令吉，虽然小股东还是觉得拿少很多，但至少有拿到。
 
反观普腾，当初令由吸引到我差点买入的原因是其高现金储备。在那普腾的黄金十年里，全国的新车可以说是由普腾垄断。数一数亲朋戚友，十个有八个都曾拥有普腾轿车。
 
不过，这公司也真奇怪，钱是赚很多，却也很会找生意来亏，例如， 04年用7千万欧元买了间欧洲摩多公司(MV AUGUSTA) ，05年再以一欧元卖掉它。还有，其烧钱的莲花跑车公司，不知还会烧掉几多，让我迟迟不敢买它。
 
也因此，我们看到它的现金从04年的30亿令吉，逐年减少到05年尾20亿、06年7亿、07-10年的10亿令吉左右，始终无法恢复昔日风采。
 
股价扬近100%
 
唯一多年不变的是每逢有风声传出它将会有股权变动，其股价便应声而起，并购却一直无法落实，活跃一番，就沉寂下来。今年九月的业绩尤其令人担心，半年小赚2千万令吉(每股3.7仙) ，公司净现金萎缩至约4亿。股价也即时反映，跌至3令吉以下。
 
很可能，普腾会和国产车经销有第三个共同点，就是共事一主。
 
国产车经销最终被多元重工业私有化，而多元重工业向来有兴趣普腾股权，并购建议也此起彼落，不曾消歇。所以，这次并购消息再适时流出，让普腾来个绝地大反攻，股价短短几天就起了约100%。
 
不晓得交易所会否提出UMA(不寻常交易活动) 询问（编按：交易所周二已发出UMA），再效尤丰升一样，屡劝不停就来个指定交易，让炒家无法得逞。
 
不过，相信多元重工业要收购的风声走漏，应该会快马加鞭，迅速出价，以免股价被有心人越捧越高。
 
当心价高市危
 
但是，到底多元重工业要买多少股权，我们不清楚，万一它效法收购大马邮政（Pos，4634，主板贸服组）一样，只是买32%，不全面收购，那么要投机的股民可要吃亏了。
 
因此，如果真有并购的话，交易所应该严查内线交易，追查风声来源，尽其监督机构的责任。
 
无论如何，普腾股价立竿见影，其认购凭单更是大起逾100%，让听消息者蠢蠢欲动。只是，当股价站上6令吉，还有人趋之若鹜吗？
 
到时，股民自我催眠的情形又会重演，买者认为6令吉比其净资产9.80令折价太多，尚有投资价值，忘记了月前它只有2令吉60仙，价高市危，自己小心啦！

陈金阙 专业财务规划师

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Added on December 7, 2011, 12:41 amProton, DRB-Hicom active, up amid speculation of corporate exercise

KUALA LUMPUR (Dec 6): PROTON HOLDINGS BHD [] and DRB-HICOM BHD [] shares were actively traded on Tuesday amid speculation that that a corporate exercise is in the offing, with DRB-Hicom emerging as the likely suitor.

At 9.10am, Proton was up 27 sen to RM4.77 with 3 million shares done while DRB-Hicom added 10 sen to RM2.30 with 4 million shares traded.

The Edge FinancialDaily reported today that businessman Tan Sri Syed Mokhtar Albukhary was understood to be in negotiations with Maybank Investment Bank (Maybank IB) to craft a deal in his bid to take control of national automaker Proton.

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Added on December 7, 2011, 10:19 pmProton says unaware of any corporate proposals

PETALING JAYA: The rally in the share price of national automaker Proton Holdings Bhd that started last Thursday came to a halt yesterday, as its top management clarified to Bursa Malaysia that it is not aware of any reason for the unusual market activity in its shares.

The national automaker’s share price fell 19 sen or 4.22% to close at RM4.31 yesterday, after trading within a wide range of RM4 to RM4.94 throughout the day.

The stock started its upward surge last Thursday after rumours re-emerged that its largest shareholder Khazanah Nasional Bhd was inviting parties to bid for part or all of its stake in the group. The sovereign wealth fund holds 234.73 million shares or 42.74% of Proton’s issued and paid-up capital.

“The board of directors of Proton wishes to clarify that after making due inquiry with the board of directors and major shareholders, the company is not aware of any reason for the unusual market activity in the shares of the company recently, and further, that there is no material corporate development not previously disclosed,” the group said yesterday.

Trading in the stock was halted for one hour, from 10.20am to 11.20am, for the announcement.

The stock price surged by more than 45% in just four trading days from last Thursday to yesterday, as rumours of a potential sale, which periodically make the rounds, re-emerged.

Quoting sources, The Edge weekly reported at the weekend that Khazanah has sent out feelers and approached several automotive industry players to ask them for business plans for Proton if they were keen to take up the investment fund’s stake in the group.

According to the report, the automotive players approached include Sime Darby Bhd’s motor division, Hyundai Berjaya Sdn Bhd, UMW Holdings Bhd, the Naza Group and DRB-Hicom Bhd. However, only DRB-Hicom indicated any interest in acquiring the stake, the report said.

DRB-Hicom has in the past tried to acquire a substantial stake in Proton. In 2009, the conglomerate submitted a bid to buy 32% of Proton, but the deal failed to materialise without any concrete reasons given.

DRB-Hicom, which is 56% owned by tycoon Tan Sri Syed Mokhtar Al-Bukhary through his investment vehicle Etika Strategi Sdn Bhd, has recently stated that it will bank on mergers and acquisitions to fuel future growth.

During a press conference after its AGM in September, DRB-Hicom managing director Datuk Seri Mohamed Khamil Jamil said the company embarked on a five-year business development plan in 2006 to stabilise, rationalise and grow the group’s businesses. These include the assembling and distribution of passenger cars and other automotive businesses, financial services through Bank Muamalat Malaysia Bhd, and snail mail services through its 32.2% stake in Pos Malaysia.

He said DRB-Hicom will raise about RM1.7 billion for capital expenditure as the group enters the second phase of its development plan. This may include acquiring stakes or other corporate proposals, as the group seeks to expand its businesses through mergers and acquisitions.

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Added on December 8, 2011, 11:28 amGeneral Motors Co has begun talks with Proton Holdings Bhd, Malaysia’s biggest automaker, to form a manufacturing venture in the Southeast Asian country, according to two people familiar with the matter.

The discussions revive negotiations that were scrapped in 2007, said the people, who asked not to be identified because the talks are confidential. The talks are preliminary and may not lead to an agreement, they said.

For GM, an agreement would help the Detroit-based carmaker expand manufacturing of cars for Southeast Asia beyond Thailand, where the country is reeling from its worst floods in almost 70 years.

A deal may allow Proton, which has held unsuccessful alliance talks with Volkswagen AG and Peugeot SA, to gain access to GM technology that could help the Malaysian carmaker boost sales overseas.




Klaus-Peter Martin, a GM spokesman in Detroit, declined to comment. Izad Raya, head of group communications at Proton, which owns sports-car maker Lotus Group International Ltd, said the company doesn’t comment on speculation.

GM isn’t interested in buying the controlling 43 per cent stake in Proton held by Malaysian sovereign wealth fund Khazanah Nasional Bhd, the people said. Proton shares jumped 45 per cent over two days on Dec 5 after the Edge reported the state-owned asset manager was preparing to auction its holdings.

Auto and property group DRB-Hicom Bhd, Naza Group and Proton chairman Mohd Nadzmi Mohd Salleh submitted separate bids to Khazanah for Proton, Malaysia’s The New Straits Times newspaper reported this week, without saying where they obtained the information. -- Bloomberg


Read more: GM said to revive talks with Proton http://www.btimes.com.my/Current_News/BTIM...l#ixzz1fu9s9vPZ

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Added on December 9, 2011, 12:35 amDRB-Hicom, SAAB ink strategic partnership in defence and aerospace
Written by Syarina Hyzah Zakaria of theedgemalaysia.com
Thursday, 08 December 2011 18:43


KUALA LUMPUR (Dec 8): DRB-HICOM BHD [] and SAAB AB of Sweden have signed an agreement to collaborate and supply Airborne Early Warning and Control System (AEWC) for the Royal Malaysian Air Force.

In a statement Thursday, DRB-Hicom said the integration of SAAB's Eyerie Radar and the incorporation of the "Eye in the Sky" would provide significant data link to the Royal Malaysian Navy and Malaysian Maritime Enforcement Agency.

The AEWC system will enable the government to enhance its airspace and maritime awareness, it said.

“The ability to detect, track and monitor territorial and international domain in combating piracy, smuggling, illegal fishing and terrorism within and around Malaysian borders will also be enhanced.

“The collaboration aims to strengthen current expertise in terms of competencies in project management, system engineering and supply chain management,” it said.

DRB-Hicom said it would provide a significant local involvement in the entire project cycle, starting from production to testing and eventually to support AEWC operations.

The company said the agreement was a major step taken towards upgrading Malaysia's defence aviation technologies and capabilities, specifically in areas of Aeronautics System Integration and Command & Control, it added.

http://www.theedgemalaysia.com/business-ne...-aerospace.html

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Added on December 10, 2011, 12:25 amDRB-Hicom not eyeing Proton
Written by Financial Daily
Friday, 09 December 2011 12:20

KUALA LUMPUR: DRB-Hicom Bhd has denied a newspaper report that it is looking to secure a substantial stake in Proton Holdings Bhd, and would divest part of the stake to Volkswagen AG.

“In this regard, we wish to inform Bursa Malaysia that the company is not aware of the source and the basis of the article,” it said in a filing with Bursa yesterday.


This article appeared in The Edge Financial Daily, December 9, 2011.

http://www.theedgemalaysia.com/in-the-fina...ing-proton.html

This post has been edited by snowbreeze: Dec 10 2011, 12:25 AM