New IPO (let discuss about it's.)

Source: The Star may-2012
KUALA LUMPUR: ELK-Desa Resources Bhd has submitted a draft prospectus to the Securities Commission (SC) for its flotation on the Main Market of Bursa Malaysia.

According to the draft prospectus, the company is proposing to make a public issue of 25 million new shares.

This represents 20% of its enlarged paid-up capital under its proposed initial public offering (IPO). Some 15.62 million shares would be allocated for bumiputra investors.

It will also place 4.51 million shares to eligible employees.

The balance of 4.86 million shares will be allocated for the public.

The offer price and the date of the IPO has yet to be announced.

ELK-Desa Resources, through its wholly-owned subsidiary ELK-Desa Capital, is primarily involved in the business of hire-purchase financing for used motor vehicles.

The group is also involved in selling general insurance policies as an insurance agent and trading of used motor vehicles through ELK-Desa Capital’s wholly-owned subsidiaries, ELK-Desa Risk Agency and ELK-Desa Marketing, respectively.




For the financial year ended March 31, 2011 (FY11), ELK-Desa Resources posted a net profit of RM15.28mil against RM13.19mil in the corresponding period a year ago. Its revenue for FY11 rose to RM35.4mil from RM30.89mil previously.




This post has been edited by mbj78: Oct 3 2012, 10:46 PM

i guess will skip this.. waiting for other ipo

me too...

I don't see any reasons to skip.

50 50 now. probably will be IN here.

will look at its offer price first then decide.

what price ? Then decide to apply of skip.

Skip... Next please...

no skip, will apply maximum.

Bravo

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Added on October 6, 2012, 5:56 pmOn 2nd thought maybe apply last minute..albeit small amt rm20k.? Maybe...

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Added on October 6, 2012, 5:57 pmOn 2nd thought maybe apply last minute..albeit small amt rm20k.? Maybe...

This post has been edited by Zamos: Oct 6 2012, 05:57 PM

go go. im in.

Any particular reasons that we the rest not aware?Try to make some sense here.When is the last date for application thru bank?

Its not opened yet for PUBLIC, just through bumiputra special allocation vide MITI.

This post has been edited by amir.marzuki: Oct 7 2012, 02:03 PM

Unico-Desa Plantations Bhd has pegged the public issue of 25 million new ELK-Desa Resources Bhd shares at an offer price of RM1.16 per unit. In a filing with Bursa Malaysia, the company noted that the non-renounceable restricted offer for sale of 13.49m shares in ELK-Desa would be offered for RM1.16 per share. (Financial Daily)

Source: http://klse.i3investor.com/blogs/valueinve...hklse/18605.jsp

This post has been edited by mbj78: Oct 7 2012, 02:24 PM

it looks interesting and the price is nice so why not

There has been turmoil b4...dont know its significant or not...non-bumiputra company I guess

2009

Still a long time to decide...maybe right after astro listing.Anyone has done research?

It's not yet open to public?

I heard MALAKOFF coming soon! Maybe will be out thru MITI next month... If this news is true then should get ready guys.... Prepare ur bullets and attackkkk!

So everyone now targeting b4 GE eh...good for us then

Obviously not yet

last day to apply through MITI ...

whn everyone is nt interested i will sapu lor

Good luck!

Will join you......who knows...jadi macam pasu bunga ...frust pula nanti.

Actually Monday is the "last" day as they need to receive your application before 5pm on Tuesday.
I missed it, so PUBLIC ipo is next.

I thought you went all out thru Miti?

Already applied online, prepared the statements, and TIME+RAIN is the enemy. I don't drive, just ride a motorcycle.
Tak sempat liao. So apply Public portion lor.

you'll never walk alone..

U shud Doa like this"Rain Rain Go Away!!!! come again another day"...Miti Closing today!!!! Zaman!

MITI result already out.. for those who apply this IPO, check it out.. gud luck!

any update for this ipo ?

open for public..

http://announcements.bursamalaysia.com/EDM...58?OpenDocument

Hmm RM1.16, its the price ok for 2nd hand credit dealers?

KUALA LUMPUR: Unico-Desa Plantations Bhd's wholly-owned
unit, ELK-Desa Resources Bhd, en route to a listing on the Main Market of Bursa Malaysia on Dec 18, will issue 25 million shares at RM1.16 each under its initial public offering (IPO) exercise.

Unico-Desa's executive director, Lim Keng Chin, said the exercise was expected to raise gross proceeds of RM29 million, which will be mainly used for expansion and working capital.

"The listing is an indication of the company's aggressiveness to generate more capital and resources to ensure that its growth momentum continues," Lim said after the launch of the IPO prospectus here today.

Lim said ELK-Desa will be rebranded and its portfolio will be improved.

He said the company currently did not have a dividend policy.

"However, for the financial year ending March 31, 2013, the board of directors intended to recommend and distribute about 50 per cent of its profit after tax to the shareholders as dividends," he said.

ELK-Desa is primarily involved in hire-purchase financing for used motor vehicles and insurance agency business.

It currently has over 700 motor vehicle dealers located in the Klang Valley. -- BERNAMA


Any comments?

i would say fair candidate for hit & run. pricing also not so expensive.. busuk busuk 5 sen in hand - profit.

go ahead... wallop my day.

Can see in CIMB eipo already. RM1.16. Good price ?

THIS IS AN ELK!




This post has been edited by xuexueli: Nov 21 2012, 09:01 PM

abit overprice...

PE value about 21.8......hmm...

This post has been edited by sparc18: Nov 22 2012, 10:12 AM

RM1.16 a bit expensive in my opinion. If it is <RM1 i will defenitely in. Now need to think. Anyone confirm in ?

but Par price ELK is 1.00 meanwhile Astro just 0.10, is that meant anything. ?

Par price have no more meaning now days other than used to calculate dividend paid.

according to MITI offer letter, expected listing date = 18/12/2012

SKIP, better put money in IHH

skip! Reason - China Man company and those chinese always take profit early stage

MajorLegStrong!!!!? you are not in?

SKIP !

I am in

in

Meh, not interested :

along company...skip

im holding back. overprice, and sure goreng in 1st day

maybe first day can take profit la.. but dont want to risk it lo...
dont want to be another ASSTHROW...
sold off my holding and buying penny share

Did u buy PASUKHAS?

I wish I am. Just a small fly

• The spin-off of Unico-Desa PLANTATION Bhd’s hire purchase operations, ELK-Desa Resources Bhd, is set to raise RM29 million gross proceeds from its initial public offering (IPO), having priced the shares at RM1.16 apiece.
• According to its IPO prospectus released today (Nov 21), ELK-Desa will issue 25 million new shares at RM1.16 apiece pursuant to its Main Market listing, of which 62.5% or 15.63 million shares are earmarked for Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).
• The pool for the general public is 4.87 million shares or 3.89% of its enlarged share base. Net proceeds of about RM26 million will be used to expand its business.
• The IPO also involve a non-renounceable restricted offer for sale of 13.49 million ELK-Desa shares to Unico-Desa shareholders on a pro-rata basis at RM1.16 apiece. The RM15.65 million gross proceeds raised from the restricted offer of existing shares will go to the offerer, Unico-Desa. The restricted offer is on-top of the distribution of 86.51 million ELK-Desa shares as dividend in specie to Unico-Desa shareholders on a basis of one ELK-Desa share for every 10 shares held in Unico-Desa.
• Assuming that the restricted offer will be fully taken-up, Unico-Desa will no longer own any ELK-Desa shares post the IPO.
• ELK-Desa does not have a dividend policy currently.
• However, its board intends to recommend and distribute approximately 50% of its profits to shareholders for the fiscal year ending March 31, 2013, its prospectus read.
• ELK-Desa is primarily involved in hire-purchase financing for used motor vehicles. This business, through ELK-Desa Capital Sdn Bhd, operates out of two financing centres in Kuala Lumpur and Klang, Selangor.
• The group also sells general insurance policies and trade used motor vehicles. This business, which contributes less than 10% of the group’s net profit the past four financial years through March 31, 2012, is considered an ancillary product offering that complements its hire-purchase financing business, according to its prospectus.
• For the year ended March 31, 2012, ELK-Desa’s net profit rose 4.3% to RM15.28 million from RM15.28 million the year before.
• Revenue grew 9% to RM38.6 million from RM35.41 million over the same period.
• Net profit margins, however, declined to 41.3% in FY2012 from 43.16% in FY2011, according to its prospectus.
• At its IPO price of RM1.16 apiece and enlarged share base of 125 million shares, ELK-Desa will have a market capitalisation of RM145 million upon listing.
• Its net tangible asset is RM151 million or RM1.21 per share on its enlarged share base.
• The IPO price of RM1.16 represents 9.1 times its FY2012 earnings of 12.75 sen per share and 7.7 times its annualised earnings of 15 sen per share for the period ended August 31, 2012.

Note: ELK-Desa’s IPO priced at RM1.16, flags 50% dividend pay-out. For me,this counter good & financial also good..I'm in for this beb..Good luck for those apply.

im skip this. all the best all.

u'r in first and then skip...any particular reason? not bullets issue rite

cant. not this time. perhaps later..

This post has been edited by fiqir: Nov 26 2012, 04:03 PM

Now I also thinking of skip, sentiment really bad... even Hiap Huat also not doing well with the small float, then the risk for this counter increase...

so what the final verdict? boleh or not?

Still thinking, because KLSE kind of weak recently, ppl up we down, ppl down also we down, and ajib might call election soon, further dampen the sentiment, I might skip this one, preserve capital, because risk increase...

can try lorr, 1,000 shares just for fun if you want.

if ngam ngam can apply 1lot ok lah, but they allocate according to subscription, how to try 1 lot? you tembak or not this elk?

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Added on November 26, 2012, 11:26 pmdont know how to upload pic, if not will upload nice elk for you to ponder

This post has been edited by coinstar: Nov 26 2012, 11:26 PM

EASY, go to imgur.com, drag your file over there.
then get the links, when reply put in 'insert link' on the IMG

failed....

sorry

i skipped HHHCorp and i will skip this one too.

Any particular reason or bad market sentiment?

i follow

until 2013, i just want to watch from sideways. investors' direction seem to be unsure. especially those are small companies. i will save my bullet for blue chip company next year or buy from active counter. imo, risk of losing money is bigger than the chance of making money.

i follow

Why so weak response on this counter?what is the Miti oversubcription rate?Am still contemplating to hantam on this counter as so many people simply ignore this or shun away this stock?sure apply semua dapat one!!!

This post has been edited by Manso55: Dec 5 2012, 11:06 AM

Anyone going in for this?

I'm in 21lots. good luck to those onboard....

already wallop for meagre amounts.

if im around I will buy but unfortunately im not...a very under the radar uninterested kind of counter...hope it flies

when will know the ballot result?

When is listing date too?

all the best to whos buyer. maybe will go up like hiap huat ? lol...

any idea of the 'fair value' ? satu ringgit? jkjk

it will rise babeh!

oversubscribed 11.6 times
http://www.bernama.com/bernama/v6/newsindex.php?id=715144

This post has been edited by kailc: Dec 10 2012, 05:22 PM

oversubscribed 11.6 times sound good maybe.

My chance is 22.73%, applied 50,000 units

Must be easily get then.

Not dare to apply this one! Those get, congrat!

when will be the listing date?Will it be like Astro n Hiap huat????play play...play to the ipo trend.......be smart not to rugi.....must be able to calculate time to "cabut lari"""?Any ideas guys!!!!???

If im not mistaken the listing date should be next week on the 18th...oversubscribed shld be a good sign though

Pending still.......anyone got it?

no updates still for MBB

sigh, tak dapat ! MBB updated

MBB Updated. didn't get....why so suey with IPO one. zzz

strike....20000 unit..

u apply thru miti?

Not with miti,apply IPO with maybank2u online

2Q result
http://www.bursamalaysia.com/market/listed...cements/1146905

what is the opening price for this ipo?

1.16