MKH’s plantation arm MKH Oil Palm to offer up to 250.7 mil shares in Main Market IPO

The 250.7 million shares — 24.5% of its enlarged issued share capital of 1.023 billion — comprise 220 million new shares and an offer for sale of 30.7 million existing shares, its draft prospectus published on the Securities Commission Malaysia website showed.

A total of 51.21 million shares out of the 220 million new shares are allocated to the Malaysian public, of which 25.6 million issue shares will be set aside for Bumiputera public investors. Another 168.79 million shares out of the 220 million new shares are for private placement to selected investors.

The offer shares of 30.7 million will be allocated by way of private placement to selected investors.

MKHOP is principally involved in investment holding and management services. Through its subsidiaries, the group is involved in cultivation of oil palm and production and sale of crude palm oil (CPO) and palm kernel. On Aug 11, 2022, MKHOP was converted into a public company limited by shares.

For the financial year ended Sept 30, 2022 (FY2022), MKHOP posted a profit after tax of RM60.14 million, versus RM77.45 million in FY2021 and RM18.69 million in FY2020. As for revenue, the company logged RM315.82 million in FY2022, RM306.61 million in FY2021 and RM282.324 in FY2020.

https://www.theedgemarkets.com/node/664122

Ipo will be priced at RM0.62

KUALA LUMPUR (March 29): Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd began taking orders from investors on Friday for its initial public offering (IPO) on the Main Market that would raise up to RM155.43 million.
The IPO, which is priced at 62 sen apiece, comprises a public issuance of 220 million new ordinary shares, which represents 21.5% of the enlarged share capital, as well as an offer for sale of 30.7 million existing shares, which represents 3% of the enlarged share capital, by way of private placement to selected investors.

Out of the 220 million new shares, the company allocated 51.21 million shares to the public, while 168.79 million shares are reserved for private placement to select investors.
Applications for the IPO will be closed on April 16, while the listing is set for April 30. With an enlarged share capital of 1.02 billion shares, the group will have a market capitalisation of RM634.6 million upon listing.

The company sees a price-earnings ratio of 20.3 times, based on its net profit of RM30.4 million for the financial year ended Sept 30, 2023 (FY2023).
This represents a decline of 45.2% from the net profit of RM55.5 million in FY2022, due to the rising operating costs amid an increase in operational activities, driven by more favourable weather conditions.

According to its statement on Friday, the company plans to use RM42 million or 30.8% of the proceeds to acquire lands for oil palm plantations within the East Kalimantan province, while RM9 million or 6.6% would be used to set up a palm kernel crushing facility to provide the group with an additional income stream.

Meanwhile, another RM42 million or 30.8% of the total proceeds will be used for capital expenditures for existing plantation lands, the upkeep of the existing palm oil mill, the refurbishment of staff housing quarters, and the expansion of the electricity supply.

The group will also allocate RM33 million or 22% of the proceeds for loan repayments, and the remaining RM13.4 million or 9.8% for working capital and listing expenses.
M&A Securities is the adviser, underwriter and placement agent for the IPO. Kenanga Investment Bank is the joint writer and joint placement agent, while AmInvestment Bank is also the joint placement agent.

This one not available under miti right? If not, for sure will fly

This post has been edited by IPO ADDICT: Apr 7 2024, 07:22 AM

plantation stock okay???

got many others currently listed...

plantation all ringgit2 stock

coming MKHOP RM0.62 and Johor Plantation Berhad RMX.XX.

#tayor

got TP bor

Is there any previous plantation company went for IPO ? How was its performance?

Anyone can share some tp ?
No rating yet ?

It's a smart move to ensure broader participation and support. Those profit after tax and revenue numbers really paint a picture of where they stand and where they might be headed.

Its seem that’s because their company is based on indonesia they doesn't need to go under miti

If I remember correctly..

Any companies intended to list in Bursa... If their income revenue is 60% above from foreign countries / non Malaysia based... You don't need to have to offer MITI allocation or even can skip the bumi equity requirements...

ya their ipo prospectus did mention oso

Any tp so far?

11/4 IPO ref 1279

Please share any TP pls....

https://theedgemalaysia.com/node/707673

Mecury Sec TP / Fair value: 80 sen abt 29% upside

No MITI

Still considering ar? Good la, less man more "shares".

This post has been edited by lordwood: Apr 12 2024, 08:19 AM

Hopefully we can hv other TP ...tq

low risk low gain category nothing to worry if got excess cash

I am going for private placement

Wish all applicants here best of luck

How much for pp?

very good IPO?

till you taking up PP?

alot of people taking up? any info?

No MITI.... non-shariah ?

How much per pp?

https://www.bursamarketplace.com/t/bdr_down...rhad-274&a=view

Sime darby share price is RM 2.76

Klk share price rm 22.78

This post has been edited by nikazwa: Apr 13 2024, 06:44 PM

Plantation stocks Prices

AASIA 0.115
BKAWAN 20
BLDPLNT 11
CEPAT 0.815
CHINTEK 7.69
DSR - 1.28
DUTALND 0.32
FAREAST 3.5
FGV 1.43
GENP 6.23
GLBHD 0.27
GOPENG 0.345
HARNLEN 0.38
HSPLANT 1.89
INCKEN 0.415
INNO 1.49
IOICORP 4.05
JTIASA 1.39
KLK 22.78
KLUANG 4.74
KMLOONG 2.27
KRETAM 0.61
MALPAC 1.03
MATANG 0.09
MHC 1.08
NPC 1.74
NSOP 3.95
PINEPAC 0.32
PLS 0.74
RSAWIT 0.28
THPLANT 0.735

MKH???

This post has been edited by ichigo kawasaki: Apr 14 2024, 02:03 AM

pLANTATION Stock P/E
AASIA -
BKAWAN 7.36
BLDPLNT 32.78
CEPAT 12.53
CHINTEK 13.16
DSR -
DUTALND 25.89
FAREAST 19.59
FGV 46.66
GENP 21.03
GLBHD -
GOPENG -
HARNLEN -
HSPLANT 16.55
INCKEN -
INNO 13.35
IOICORP 22.53
JTIASA 8.81
KLK 25.27
KLUANG 6.96
KMLOONG 12.45
KRETAM 13.09
MALPAC 28.53
MATANG 81.85
MHC 6.3
NPC 19.89
NSOP 14.09
PINEPAC -
PLS -
RSAWIT 46.16
THPANT 10.81

pricey 62 sen ?.....

Need more TP..so far only one tp

Brown oil, no brainer..just apply 😆

Cheap entry fee

Running no mbb 22XX

FV
Mercury RM0.80

#tayor

FV from TA 62 sen ....

Distribution of 82,487,981 ordinary shares in MKH Oil Palm (East Kalimantan) Berhad ("MKHOP") ("MKHOP Shares"), representing approximately 10.3% of MKH Berhad's (the "Company" or "MKH") equity interest in MKHOP to the entitled shareholders of the Company by way of dividend-in-specie, on the basis of 1 MKHOP Share for every 7 MKH shares held by the entitled shareholders, on the entitlement date

Operations in kalimantan..country risk

Will apply tomorrow. See what’s running number. No miti 100% fly.

Agree,

My opinion in Malaysia/Indonesia oil palm issue
Usually are environment issue
Open burning, deforestation, wildlife destruction, overseas pressure oilpalm vs others (US/Euro produce), ESG, %extraction

Usually reports, esg, can settle
Just dont kena Authority issues...

Just my personal opinion.

IPO MOUSE Trap ?....

to be Senheng 2.0 , Radium 2.0 & what not ....

then you better dont apply ok...

Because???

It's plantation stock??

Break even...i will apply some..little profit is good already

Wait for another FV tomorrow.

...

Around 11pm running number 3646

Latest number from M bank : 3800+

This post has been edited by IPO ADDICT: Apr 16 2024, 07:53 AM

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx

This post has been edited by ronnie: Apr 16 2024, 08:04 AM

for the past 5 or 6 IPO, i got practically nothing.

what is the best chance to secure ? breakeven quantity in lot to buy ?

Latest from rhb FV RM0.66

Apply into the >1 million shares tier... 70-100% win

If you no luck...

Even 70% or 90% rates would give you failed applications 😏

at 9am ref no 4180

This post has been edited by tnang: Apr 16 2024, 09:10 AM

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9 AM: #4180

Huge budget as well

Tried some, cant go wrong with MKH and commodity stock.

MBB running no. 4318 at 10am.

#tayor

try my luck for some...

mbb ref 4391 as of 1030am

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9AM - #4180
10AM - #4318
10:30AM - #4391

This post has been edited by ronnie: Apr 16 2024, 10:38 AM

11.11pm - 4533

further ....

applied small amount as well

Buy buy buy ... i applied aldy

4976@1.12pm

1.56p.m #5112

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9:00AM - #4180
10:00AM - #4318
10:30AM - #4391
11.11AM - #4533
1.12PM - #4976
1.56PM - #5112

This post has been edited by ronnie: Apr 16 2024, 02:23 PM

2.42 pm. No 5209

Maybank

This post has been edited by nikazwa: Apr 16 2024, 02:57 PM

wah looks like more ppl applying than keyfield

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9:00AM - #4180
10:00AM - #4318
10:30AM - #4391
11.11AM - #4533
1.12PM - #4976
1.56PM - #5112
2.42PM - #9055

ade typo ??

9055???? 😳

5266

Yes maybank

please don't misleading other
or can you show us the receipt?

This post has been edited by wan7075: Apr 16 2024, 02:46 PM

2 .48 pm # 5276

Maybank

i last min apply small amount and see the ref no

Good luck to all. Let's hope we all can get some and make quick bucks.

Be pity to innocent newbies please.....

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9:00AM - #4180
10:00AM - #4318
10:30AM - #4391
11.11AM - #4533
1.12PM - #4976
1.56PM - #5112
2.42PM - #5209
2.46PM - #5276

many says Plantation stocks is so yesterday..

yet we see 5k application & counting....

Maybe many apply small small only

shall know when the ballot table out

6076 4.30pm

6180

HURRYYYY. . UPPPPP

2 MORE MINUTES
Note...NO MITI IN THIS IPO

SURE HOT N GOLENG IPO

pssttt.....tactic

This post has been edited by IPO ADDICT: Apr 16 2024, 05:11 PM

Good luck to everyone

Hope for the best to the 6k +++ application

This is like school days u know....get A+ tell u no study but study like hell.

Here, tell u not interested, then curi curi apply lol

Wah ..quite high..many applied silently and last minutes..gud luck!

15 Apr
11PM - #3646

16 Apr
7:36AM - #38xx
9:00AM - #4180
10:00AM - #4318
10:30AM - #4391
11.11AM - #4533
1.12PM - #4976
1.56PM - #5112
2.42PM - #5209
2.46PM - #5276
4:30PM - #6076
4:39PM - #6180

Good luck to those who applied

Dear @Baik

So sorry for the late reply. As I am not very active in any forum.

For PP min investment amount is 250K.

Nothing special. Just happen that my remisier ask if I want to apply thru PP & I agreed to do so.

Apply thru banks you can wait until very last minutes. But PP I have to transfer $$ to IB 1 month ahead before prospectus announce to the public.

Hilang bank interest but allocation is confirmed. Itu saja.

Wish all applicants here best of luck.

Cheers!!!

With condition must be a HNWI + sophisticated investor.

Itu saja

what is HNWI ?

This post has been edited by Yipeegee: Apr 18 2024, 10:41 PM

high
net
worth
individuals