Buy wat ah?

exactly what I am thinking..

ooo, this is bad. good luck buddy.

LTCH net loss...wat the....monday probably dive...

Petronas Chemicals Institutional IPO Priced At MYR5.20

KUALA LUMPUR (Dow Jones)--Malaysia's Petronas Chemicals Group Bhd. said Friday it has raised MYR12.8 billion ($4.14 billion) after pricing its institutional shares at the top end of the indicated range, making it the largest ever initial share sale in Southeast Asia.

The initial public offering, which is in line with Prime Minister Najib Razak's call to attract more overseas investments and to boost liquidity in the Malaysian capital markets, also eclipses the MYR11.2 billion raised by Malaysian mobile phone operator Maxis Bhd. (6012.KU) last November.

In a statement, Petronas Chemicals said the institutional offering attracted orders of approximately MYR92.6 billion, representing a subscription rate of more than 21 times.

The retail offering of 293 million shares attracted a subscription rate of 2.5 times, the company said. The retail price has been set at MYR5.04 per share, a 3% discount to the institutional price.

"We believe the strong support shown for Petronas Chemicals' IPO reflects its position as the leading petrochemicals producer in Southeast Asia," Chairman Wan Zulkiflee Wan Ariffin said in the statement.

"The bookbuilding exercise has attracted significant interest from various types of investors globally," he added.

The heavy demand for the stock underscores the keen interest in emerging markets. Petronas Chemicals' sister company Malaysian Marine and Heavy Engineering Bhd., which was listed on the Malaysian bourse last month, drew in an oversubscription rate of more than 25 times for the institutional portion of its MYR2 billion IPO.

In that same month, AIA, the Asian life insurance arm of American International Group Inc., raised US$17.85 billion by pricing its Hong Kong IPO at the top end an indicated range.

Analysts and bankers said the strong interest in Petronas Chemicals isn't unexpected given its sheer size, robust earnings outlook, significant weightage on the index and strong parentage in state-owned oil corporation Petroliam Nasional Bhd.

Hwang-DBS Research in a report on Friday estimated Petronas Chemicals Group, when listed on the Malaysian bourse on Nov. 26, will be the fifth largest constituent of the benchmark index KLCI, ranked by full market capitalization, with a relative weight of 2.5%.

Given this, analysts said Petronas Chemicals is poised to stage a strong debut on Malaysian stock exchange.

Opinion is divided on the share sale with some fund managers saying valuations are not cheap at 16 times earnings estimated for 2011.

However, Kuala Lumpur-based TA Research analyst Kevin Lo said in a recent report that Petronas Chemicals is worth MYR5.70 a share, using its closest peers as a benchmark comparison, namely Saudi Basic Industries Corporation (2010.SA) and PTT Chemicals PCL (PTTCH.TH). Both these companies trade at a 2011 forecast enterprise value to EBITDA of 8.6 times.

Lo likes Petronas Chemicals because it is one of the lowest cost producers globally, has a reliable supply of gas feedstock pursuant to a long term agreement with Petroliam Nasional at attractive prices and strong margins.

Petronas Chemicals manufactures chemical compounds, fertilizers, industrial and specialty chemicals. It has an annual production capacity of 11 million metric tons and is Southeast Asia's largest producer by volume of methanol and ethylene glycol, chemicals widely used in antifreeze.

"The beginning of an upward cycle in Asian economies will be evident in Petronas Chemicals results going forward," said Lo.

Petronas Chemicals is selling a total of 2.48 billion shares in its initial share sale, 72% of which are new shares with 28% from parent Petroliam Nasional. Proceeds raised will be used to expand the business and for synergistic growth acquisitions.

Malaysian pension funds The Employees Provident Fund and Kumpulan Wang Persaraan--last month committed to taking up 18% of the IPO. Apart from the portion taken up by the pension funds, 37% was offered to ethnic Malay investors, 33% for book building and 12% to retail investors.

The company, which will have an enlarged share capital of 8 billion shares post IPO, earned a net profit of MYR2.59 billion on revenue of MYR12.2 billion in the year ended March 31. It also plans to pay 50% of its annual earnings to shareholders, according to its IPO prospectus.

The bookrunners for the offer are CIMB, Deutsche Bank and Morgan Stanley, while Citigroup Inc. © and UBS AG (UBS) are co-bookrunners.

The shares are due to be listed on the Main Market of Bursa Malaysia on Nov. 26, the company said.

I'm quite surprised by the overall result. Nevertheless it was expected, hence the low volume despite report out this week. I'm cashing out on this counter the first thing on Monday and go with other counter already.

I remember someone posted say LTCH will show good report card

Who was it ar?

they got the wrong accountant. maybe tukang sapu.

i quote it from investlah forum
but the report is correct, it show last year, LCTH really did good in last quater.

---

Added on November 12, 2010, 5:46 pmsame, probably change it to reit or top up BKAWAN

This post has been edited by harry1125: Nov 12 2010, 05:46 PM

Loss is loss, there's no excuse for it and you can't blame anyone. You bought at your own discretion.

yup, it is speculation. i am beting for their report with the base of their cash rich.

thats why risky to leave overnight .

GregPG01, Intel PG01? Sorry mod not stock related

i lose in betting for genting sp report.. =.=

No worries, i didnt buy this LCTH.

Scare of penny stocks liao

Yeah, initially I was having some problem choosing LCTH and Gens-Cx as my investment choice but it turns out LCTH is the right choice for me. If I'm in Gens-Cx, confirmed slaughtered already.
With LCTH, still got some profit to make.

This post has been edited by Icehart: Nov 12 2010, 05:58 PM

DESPITE BAD RESULTS, LCTH'S CASH BALANCES IMPROVED FROM RM78 MILLION TO
RM103 MILLION.


no borrowing, cash rich, but keep loss money.

What they plan to do?

hug the big cash and sink with the LCTH boat.

My goreng target price around RM 1.30-1.20. With EPF selling, I think I will wait for a while to see what happens.

Cool. Hope to grab some before that if the price is right.....