Welcome Guest ( Log In | Register )

48 Pages  1 2 3 > » Bottom

Outline · [ Standard ] · Linear+

 SUNCON, SUNWAY CONSTRUCTION GROUP BERHAD

views
     
TSxuexueli
post Sep 19 2014, 07:18 PM, updated 9y ago

Regular
******
Senior Member
1,051 posts

Joined: Jan 2012
sunway-proposes-listing-of-construction-unit-on-bursa

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com
Friday, 19 September 2014 18:48


KUALA LUMPUR (Sept 19): Sunway Bhd has proposed the listing of its
indirect wholly-owned construction unit, Sunway Construction Sdn Bhd
(SunCon), on the Main Market of Bursa Malaysia by the second quarter of
2015.

The group will be injecting SunCon into a new company, Sunway
Construction Group Bhd (SCG) for the proposed listing.

“The main rationale for the proposed listing of SCG is to unlock the
value of SunCon and distribute part of the benefits to the shareholders
of Sunway,” said Sunway Group Founder and Chairman, Tan Sri Jeffrey
Cheah in a press release this evening.

Under the proposed listing exercise, Sunway has proposed a 1-for-10
distribution-in-specie of free SCG shares to shareholders of Sunway.

“Besides the proposed distribution-in-specie, a special cash dividend
will also be declared and distributed to the shareholders of Sunway from
the proceeds of the proposed offer for sale of SCG shares,” Cheah added.

The group said up to 35.7% of SCG shares will be offered to
institutional and retail investors, while Sunway will retain majority
control of SCG, with at least 51% equity stake.

SunCon has over 30 years of experience in the construction business, and
has completed major projects including the Kuala Lumpur Convention
Centre, SILK Highway, Sunway Pyramid Shopping Mall and Legoland Theme Park.

The company has also ventured into India, Trinidad and Tobago and the
Middle East.

SunCon boasts an orderbook of RM3.4 billion as at July 31, 2014, and has
won many awards, including the International Achievement Award at the
Malaysian Construction Industry Excellence Awards (MCIEA) in 2009 and 2013.

The company was previously listed on the then Kuala Lumpur Stock
Exchange in 1997 for seven years, and was de-listed in 2004, after
receiving a voluntary general offer by Sunway Holdings Incorporated Bhd.

Sunway closed 6 sen higher today at RM3.36, bringing its market
capitalisation to RM5.77 billion.



drool.gif drool.gif drool.gif rclxms.gif

This post has been edited by xuexueli: Jul 13 2015, 08:16 PM
outpace
post Sep 22 2014, 10:43 PM

On my way
****
Junior Member
570 posts

Joined: Jan 2011


how's construction sector? peak? so the IPO? biggrin.gif

This post has been edited by outpace: Sep 22 2014, 10:55 PM
wil-i-am
post Jan 12 2015, 04:24 PM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
Draft Prospectus
http://www.sc.com.my/prospectus-exposure-s...n-group-berhad/
ahwai
post Jan 12 2015, 04:29 PM

Casual
***
Junior Member
445 posts

Joined: Aug 2005
IPO for this year... skeptical..
topearn
post Jan 15 2015, 01:58 PM

Look at all my stars!!
*******
Senior Member
3,459 posts

Joined: Jan 2009
QUOTE(ahwai @ Jan 12 2015, 04:29 PM)
IPO for this year... skeptical..
*
Why skeptical ? Property market going to crash soon ?
ahwai
post Jan 15 2015, 02:38 PM

Casual
***
Junior Member
445 posts

Joined: Aug 2005
QUOTE(topearn @ Jan 15 2015, 01:58 PM)
Why skeptical ? Property market going to crash soon ?
*
IPO didnt do well last year
cindelala^^
post Jan 15 2015, 04:49 PM

Getting Started
**
Junior Member
226 posts

Joined: May 2008


i look c look c......
nexona88
post Feb 4 2015, 04:21 PM

The Royal Club Member
*********
All Stars
41,830 posts

Joined: Sep 2014
From: REality

Sunway Construction Group Bhd (SCG) gets MITI nod for Bursa Malaysia listing.

Under the proposal for the listing of SCG on the Main Market of Bursa Malaysia, plans to list 573.4 million ordinary SCG shares, out of which 401 million or 31% of SCG shares is for offer for sale to retail and institutional investors.

From this, up to 135.8 million or 10.5% of SCG shares have been set aside for Bumiputera investors to be approved by MITI.
wil-i-am
post Feb 9 2015, 07:12 PM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
SC approved proposed listing
plush
post Mar 5 2015, 01:50 PM

Getting Started
**
Junior Member
217 posts

Joined: Sep 2006
From: KL


Hi Sifus,

I have some questions to ask about Sunway shares. Currently the price today is at RM3.47 per share with impending dividend payment this month.

My question is what will happen to the price of the share of Sunway after Sunway Construction is split out and listed as an independent entity?

For example if lets say I have RM100k worth of Sunway shares today, with the split of SunCon and also the award of 1 SunCon share for every 10 Sunway share held for its shareholders, will i still own a total value of RM100k of both Sunway and SunCon shares? Will the readjustment of Sunway shares affect the total value of shares that I hold today?

As for now, what is the recommended course of action? Do i hold on to the Sunway shares, wait for dividend payment and also the award of SunCon shares before selling all or do i just sell all today?

Many thanks!
tehoice
post Mar 6 2015, 10:00 AM

Look at all my stars!!
*******
Senior Member
5,403 posts

Joined: Oct 2007


QUOTE(plush @ Mar 5 2015, 01:50 PM)
Hi Sifus,

I have some questions to ask about Sunway shares. Currently the price today is at RM3.47 per share with impending dividend payment this month.

My question is what will happen to the price of the share of Sunway after Sunway Construction is split out and listed as an independent entity?

For example if lets say I have RM100k worth of Sunway shares today, with the split of SunCon and also the award of 1 SunCon share for every 10 Sunway share held for its shareholders, will i still own a total value of RM100k of both Sunway and SunCon shares? Will the readjustment of Sunway shares affect the total value of shares that I hold today?

As for now, what is the recommended course of action? Do i hold on to the Sunway shares, wait for dividend payment and also the award of SunCon shares before selling all or do i just sell all today?

Many thanks!
*
not sure about the scheme, but do you pay for the SunCon shares subscription? i supposed so right?
plush
post Mar 6 2015, 10:06 AM

Getting Started
**
Junior Member
217 posts

Joined: Sep 2006
From: KL


QUOTE(tehoice @ Mar 6 2015, 10:00 AM)
not sure about the scheme, but do you pay for the SunCon shares subscription? i supposed so right?
*
i think the 1 for 10 offer is free because you are the shareholder of the group
wil-i-am
post Mar 6 2015, 11:06 AM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
QUOTE(plush @ Mar 6 2015, 10:06 AM)
i think the 1 for 10 offer is free because you are the shareholder of the group
*
By rite, yo value b4 n after corporate proposal remains unchanged
Having said tat, prices of both Sunway n SunCon is subject to market forces upon completion
Take note on potential odd lots from SunCon which may affect yo overall value
plush
post Mar 6 2015, 11:32 AM

Getting Started
**
Junior Member
217 posts

Joined: Sep 2006
From: KL


QUOTE(wil-i-am @ Mar 6 2015, 11:06 AM)
By rite, yo value b4 n after corporate proposal remains unchanged
Having said tat, prices of both Sunway n SunCon is subject to market forces upon completion
Take note on potential odd lots from SunCon which may affect yo overall value
*
what do you mean by potential odd lots?
tehoice
post Mar 6 2015, 12:21 PM

Look at all my stars!!
*******
Senior Member
5,403 posts

Joined: Oct 2007


QUOTE(plush @ Mar 6 2015, 10:06 AM)
i think the 1 for 10 offer is free because you are the shareholder of the group
*
QUOTE(plush @ Mar 6 2015, 11:32 AM)
what do you mean by potential odd lots?
*
so the share is given to you free......
like william said, the before and after the proposal, your value shall remain unchanged.
however, trading in odd lot market may incur more costs. (check with your broker)

so if you have 500 sunway shares, you will be given 50 suncon shares, so this 50 shares will be traded in the odd lot market. so more costs for you.
plush
post Mar 6 2015, 12:54 PM

Getting Started
**
Junior Member
217 posts

Joined: Sep 2006
From: KL


QUOTE(tehoice @ Mar 6 2015, 12:21 PM)
so the share is given to you free......
like william said, the before and after the proposal, your value shall remain unchanged.
however, trading in odd lot market may incur more costs. (check with your broker)

so if you have 500 sunway shares, you will be given 50 suncon shares, so this 50 shares will be traded in the odd lot market. so more costs for you.
*
so i should top up to make it a full lot right? for easier selling.
wil-i-am
post Mar 6 2015, 01:51 PM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
QUOTE(plush @ Mar 6 2015, 12:54 PM)
so i should top up to make it a full lot right? for easier selling.
*
On paper, yes
tehoice
post Mar 6 2015, 02:23 PM

Look at all my stars!!
*******
Senior Member
5,403 posts

Joined: Oct 2007


QUOTE(plush @ Mar 6 2015, 12:54 PM)
so i should top up to make it a full lot right? for easier selling.
*
not sure if there is any excess application for your category.
and, read up la, it's in the prospectus..................
wil-i-am
post Mar 6 2015, 02:26 PM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
QUOTE(tehoice @ Mar 6 2015, 02:23 PM)
not sure if there is any excess application for your category.
and, read up la, it's in the prospectus..................
*
No xcess as tis is similar to BI
wil-i-am
post Apr 3 2015, 03:35 PM

10k Club
********
Senior Member
10,001 posts

Joined: May 2013
Sunway seek shareholders approval for listing of SunCon via EGM on 20/4

48 Pages  1 2 3 > » Top
 

Change to:
| Lo-Fi Version
0.0272sec    0.42    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 06:05 PM