Flash - Minority shareholders storm out of Glenealy EGM

KUALA LUMPUR (Sept 13): Disgruntled minority shareholders of Glenealy PLANTATION [] (M) Bhd raised the temperature of an extraordinary general meeting (EGM) to vote on its privatisation when they expressed their dissatisfaction over the lack of a proper valuation report on the company's assets.
The meeting, which started at 10am Thursday, saw minority shareholders walking out without voting on the proposal, as some felt that the RM7.50 per share offer price does not reflect the true potential and value of the company.
Shareholder Lim Thian Siang, who was denied entry into the meeting, asked why there was no valuation report for the plantation land owned by Glenealy.
"If there was a valuation report on the deal, shareholders will most likely not approve the proposal," Lim told reporters, adding that the valuation was too low.
He said the estimated RM25,000 per hectare for the company's plantation lands significantly undervalues the company. He noted that Bursa Malaysia and the Securities Commission Malaysia have not said anything so far.
Counting of votes was in progress as at 12noon, after non-interested shareholders in the privatisation of the company cast their ballots.
Patrick Low, the head of the disgruntled shareholders, told theedgemalaysia.com the resolution on privatisation might go through.
On Sept 11, the company declared a special dividend of 52.75 sen per share to appease shareholders, but Low said his group is against the privatisation based on the principle that valuation of assets was not done properly.

Just use a free Evernote software , a small cloud software to share and store my PC articles with my Androids n for future reference.

look at the market so bullish even Airasia...

do you dare to catch falling knife?  reversal wur

let me have some good kiddo imagination..

would it be pushing up maintain the price to distribute? 

So today buying will be very fierce 

I confirm QE3! Panic buy tomorrow!

It's bad for the world, it's bad for bears, it's bad for savers. Heli Ben should be jailed 

But since I'm 77% stocks/23% cash ..... oh well ..... huatttt ahhhhhhhhhh 

40B a month until employment improves.. really nowhere to hide

so time to buy more plantations and sell pbb and bernas

Gold "explodes" to the upside, DJ and S&P 500 are not far away from its all time high.
Oil is going up too.

So, as ordinary poor fella on the street, QE3 is good?
Inflation can put poor fella more stresses in their daily life.
While rich one may enjoy through asset valuation increase in figure.

asian won't stop consuming rice. earning maintain but earning growth is another story.

10 LCCs to fly from klia2.
Malindo can easily be klia2 anchor tenant within 4 or 5 years.[/b]

With so many LCCs flying price competition is going to happen.
What is cheapskate air flight could become even more cheapskate air flights! 
With LCCs require big money to setup, can they survive a price war?
Will overcapacity become a big issue?

That one is PPB, not PBB.

Yes, but current slide may indeed provide good opportunity to enter.

One day, controlled item price needs to be raised as well.

Those so called real investors often contribute more on how many % their stocks perform on day to day 

It needs to happen to reflect what is happening in Singapore.

REITS withholding tax may be dropped to zero  after the budget