source: http://bursastreet.blogspot.com/2009/03/tm...ernational.html

this is sooo late to the party.

What is the closing price for today ?

2.35 already

that report by osk, prolly means osk bought quite a bit of TMI in the last 2 days.. hoping some fish follow on monday so they can off load.. hahaha

thanks for sharing the blog

so its the time to go in or not ?????????????

waiting for RIGHT Issue

Just be careful when you decide to jump into the boat.

What is YOUR target price and how many lots you're going invest?

Note that the current price is already not at the low level.

Do some math and decide accordingly and take into account the current economy.

bought some last wednesday at 2.25. thinking of adding some.... but as you say the price is already quite high. when is the right issue date


This post has been edited by spiderbaby: Mar 21 2009, 01:24 PM

TMI also got right issue ? That will defenitely bring down the share price. So, is it a good time to buy now or still wait ?

NST Saturday, March 21, 2009, 03.16 PM

TMI gains most in more than a month

TM International Bhd, Malaysia’s biggest publicly-traded mobile-phone operator, climbed the most in more than a month in Kuala Lumpur trading after analysts said recent declines were excessive.

TMI gained 4.9 per cent to RM2.35 at midday close on the Malaysian stock exchange, the biggest increase since Feb. 6. The benchmark Kuala Lumpur Composite Index fell 0.1 per cent.

“The stock is recovering after falling so much since the rights issue announcement,” said Ikmal Hafizi Zulkifli, an analyst at TA Securities Holdings Bhd. in Kuala Lumpur. “People are speculating on an ex-rights price of around RM2.90 so the stock” started looking attractive when it fell below that level, he said.

OSK Research Sdn late yesterday upgraded its recommendation on TMI to “trading buy” from “neutral,” saying the 27 per cent drop in the share price since Feb 26 when the company announced its RM5.25 billion (US$1.4 billion) rights offer, suggests it has “already bottomed for now.”

TMI will fix its rights price on March 27, according to the share sale terms sent to clients by the arrangers and obtained by Bloomberg. New shares will be on sale from April 15 to April 29, the document showed.

The company, about 45 per cent owned by the government’s state investment agency Khazanah Nasional Bhd, will use the proceeds to repay the RM4 billion of debt owed to its former parent, Telekom Malaysia Bhd. It will also spend about US$2 billion to refinance loans taken for an investment in a mobile-phone operator in India last year.

“In theory, there is limited scope for TMI’s share price to decline further since it would be value destructive for management given the prospects of significantly higher dilution for minorities,” Jeffrey Tan, an analyst at OSK, wrote in the report. - Bloomberg

does this mean that they will try to rise the price up so that when they set the price on march 27.
or else the price for sale on april will be low is it?

correcy me if i am wrong

Yes, they will try as much they could.
The higher the price, the higher the right issue price can be set, eventually more money can be raised.

What if stock price is low and right issue is same price with the market price, then who is going to subscribe those right issue then?

Having said that, there is certain limitation they can push up, because no individual party or parties can fight the market force.

khazanah can (i hope). they have 10 billion from the 2nd mini budget

let the force be with you.....

If this is the case, is it okay for us to buy at 2.3 now and make a quick profit?

Its worth a try seeing how TMI has been most active traded for past 2 days. No gain without risk

TMI closed at 2.35. The target price is RM2.50.

Does that mean that all the big boys will be queuing up to offload at 2.50?

If that is the case, you will prolly be able to sell it at 2.45 at best.

So your profit is 0.10 if u enter at 2.35 and exit at 2.45. Thats a 4.2% profit, before deducting charges.

Assuming you can sell 0.15 above your entry price, your profit is 6.4% before deducting charges.

Worth the risk?

Yes, highest volume for the past 2 days. Not too sure if it can sustain next week!

If those who bought at cheaper price around 2.16 -2.35 earlier and still don't sell off after the ex right issue price at 2.50, will they get more profit?

Khazanah, EPF and other big fund ppl are taking up the rights issue till fully subscribe.. since all the big shark are in for the rights issue...will the share price going up further after the rights issue complete? Or it will go down ?

If i'm not mistaken, it will go down first and up again maybe in a week time.

The activity in TMI is still highly suspicious to me.

The last two trading days, were the first and third most active days for the share since it listed less than a year ago.

We shall see in the few days who is behind the massive buying.

I have 6000 share options for TMI, and when i see the value of my options, dunno want to laugh or cry. It is almost 25k in the red, haha.

Share option ? Meaning you're working in TMI ?

a lot of buy sell at tmi

TMI on rocket fuel ady.. fly so fast n furious after panic drop tis morning.

TMI closed @ 2.610.. gained 26 sen from red initially today. What a surprising strong performance.

lets hope TMI can gain another RM5 so my share options can be cashed out!

now its so so so red.

I want to know also. It was red in the early morning but suddenly jump up in the afternoon!

If only I know it will jump that high, I'll buy 1000 lots ('00) when its in the red and make more than RM26K intraday profit.

Haha. Nobody can predict that. Eles i will cash out all my FD for it.

TMI rights issue at RM1.12 per share

KUALA LUMPUR: TM International Bhd (TMI), which intends to raise RM5.25 billion to deleverage its debt, has proposed that the pricing for the right issue be fixed at RM1.12 per share.

Subject to the approval of shareholders at an ongoing EGM today, the exercise is expected to be completed by the second quarter.

TMI has also proposed that the rights issue be carried out on a basis of five rights shares for every four shares held.
=============

Some questions :-
1) Usually, how much will the price drop be after the rights issue ?
2) Is it advisable to cash in on the rights issue ? (or wait to buy after)
3) For Nominee account, how will the rights issue be sent ?

Anyone can assist? I m still noob here.

No wonder no trading for TMI today!

TMI's Rights Issue share has been priced at a discount of 57.1% to yesterday's closing price. so what now? any sifu to comment..

It just mean they forsee the right issue is not "laku", need to sell at signficant discount, while it will double (more than doubt as 5:4 ratio) the number of shares out there which is not good for share price.

As simple as that.

What will be the share price tmr ? Can someone predict ?

Can some do some calculation for this share? Up or Down?

I guess it will go down but i don't know by how much. Maybe 10-20cents lower.

Check this out EdgeDaily Article

“The issue price of RM1.12 per rights Share represents a discount of 50.9% to the 5-day volume-weighted average market price (VMAMP) up to March 23 of RM2.28 and 31.7% to the theoretical ex-rights price of TMI shares of RM1.64 (based on the five-day VWAMP)."

Sez theoritical ex-rights price of RM1.64 !!! Good or bad ?

Previously you had 4 Shares at RM2.61 which comes to RM10.44 assuming you bought recently.

If you subscribe to the rights at RM1.12, you have to fork out another RM5.6 to own 5 rights which will equal 1 share each.

So after the subscription you will have 9 shares, which cost you about RM16.04 which means each share is only RM1.78 for you. This is your cost price if you bought the share at RM2.61 recently.


Because of the huge rights issue, EPS and dividend will be diluted. The pie remains the same but have to cut to smaller pieces for more shares.

If you want to guess how much the price will stabilise at then you need to use their historical PER and compare it with the estimated future price.


Their latest EPS is RM0.1348 according to OSK. After their last quarter announcement the market punished their stock to below RM3 to around RM2.70 and even lower. So based on the market forces, they judged TMI PER to be around 17-20x.

So the diluted EPS would be (RM0.1348 * 4) / 9 = RM0.0599

Multiply the diluted EPS by the PER ; 0.0599 * 20 = RM1.198 which is the diluted share price.


So basically, unless your costs after the rights is below RM1.198, you are going to lose money.

Hope I got that right.

Meaning TMI share will drop once the market open ?

waaa.. nobody listening to Citi ah? 1k per 1k share held today... if hit target price lor.... nobody wanna cheong in TMI ah?

Well.. it went as high as 2.420 this morning. But currently trading @ 2.330.

A bit too risky.. very volatile now. Wait & see.

Its trading in very volatile range.. I agree... volatile also means money to be made... 2.31/32.. am q-ed at 2.31 for testing water.. 2k.. and another 3k at 2.25... LOL...

OSK latest TP for TMI 2.5

 TMI_250309.pdf ( 151.5k ) Number of downloads: 56

Should I buy or should stay?
If I buy there will be double.
If I stay there will be trouble

This post has been edited by whizzer: Mar 25 2009, 02:35 PM

Just to add, volatile means
1. Money to be made
2. Money to be lose.

Get it right, make big buck
Get it wrong, loss your pant

50/50. Just like bet big/small in term of trading.

Yes... yes.. Sifu Cherroy... I was trying to look at the positive side.. LOL.. definitely its two ways..

Got in at 2.28 @ 2k... lets see how it goes.. .

TMI closed @ 2.290 today which is lower than expectation.

Will it open higher or lower tomorrow?

waaa.. u wanna gib me heart attack ah? lowe enuff lo.... time to go up.. up...

I think lower lah after the Right Issue announcement.

TMI lai liao... 2.39... I have only 2k..

Hmmm... Then wait for it to go higher lah before selling!

hi all,

I have bought 20 lots of TMI (now Axiata) about a month ago, and supposingly I was entitled to pick up the rights issue. But so far I havent receive any letter from TMI/Axiata about the rights issue yet and the ex date is on 8th of April? Does anyone receive any letter from TMI/Axiata about the right issue, and advicing to make the payment directly to the registrar? I wanted to picj up the rights issue since it is at a discount, and I am losing money at this counter so far...but I dont know how without their letter... Please advice.

If the ex-date is 8th, then they will only send out the right issue subscription form after the lodgement date which typically 2 trading days after the ex-date.

It is selling at discount but you gain nothing out of it because share price will adjusted downwards due to right issue, unless the price goes up after the ex. Having said that its price highly will creep up a little, but not a must.

If the share price stay as same with the adjusted price, you gain nothing out of the right issue.

This also happens to be my first rights issue, so I am curious how is it done for nominee CDS accounts. I understand that this type of account is charged for "helping" us in subscribing. Any sifus out there can describe the process ? Is it done online?

This post has been edited by whizzer: Apr 4 2009, 01:40 AM

Thanks for the information Cherroy, apparently you are right, I have checked with the registrar tenaga koporat sdn bhd, and they confirm that the form will be sent out on 15th of April, so I should receive it few days later...

I heard that th price may decrease after the ex date a little, but since I wanted to hold this counter for a while, I better pick up the rights issue to compensate a little bit of the price decrease if the price come lower.

At least this is better than holding the same amount of stock, and somemore the price decreases I guess, correct me if I am wrong.

If we're to buy TMI to gain short term profit next week. When is the date we should buy ? 8th Apr or 9th Apr ?

Well, if you buy on the 8th, then the share goes up the next day, then you should buy on 8th.

On the other hand if share price drops on 9th, then buy on 9th.

However, there is no guarantee it would go up on the 10th

Definately it would drop on 8th, but maybe better to buy on 7th. You decide

Sounds complicated.

This post has been edited by SKY 1809: Apr 4 2009, 08:44 PM

haha... Sound complicated. I will buy if the price start to drop. I think it will be around 1.80 if i'm not mistaken.

Yes, precisely, if don't pick up the right, you will lose a lot from it.

The choice should be

1. Pick up the right
2. If don't intend to pick up the right, sell the stock before ex.
3. If don't intend to pick up the right, sell the right (if the right is renounceable).

How to sell the right ?

noobs here. I wanna ask sth here before TMI right issue out.

1) I got 6 lots of TMI(ESOS), so meaning that they will send me a letter and ask do I interseted to buy the right issue?
2) when will I get the letter?
3) without the letter (if I m not one of the TMI share holder) then can I buy its share with the right issue price?
4) I m using iTrade , in the system is automatically display RM1.12 for TMI? Basically how can I buy it? I wanna buy 9lot
5) shud I open another account in iTrade cos previously the price I have this TMI is at 7.31, cos if I use the same account then will diluted the share price [ (7.01x6)+(1.12x9) ]/ 15 = 3.476 per lot . thus I just open a new account for only the Rm1.12 right issue and I can earn more from there. is that workable?


plz help sifu

This post has been edited by fumi: Apr 6 2009, 02:36 AM

It will be listed afterwards, high possible counter name would be TMI-OR. Check it out later, you can see this counter which will be listed for 1 week then delisted.

1. Yes.
2. After lodgement date possibly 1xth April
3. No. You need it.
4. No, it has nothing to do with itrade platform
5. Don't need. It has nothing to do with your trading account. Also one is enough to carry out all the issue.

Just approach itrade (or CIMB) personnel to assist you the right issue (if you don't sure what to do), they should able to assist you on this issue.
Feel free to post any further inquiry needed.

Cheers.

meaning that I no need to do anything on 8th of April (buy the share)? All I need to do now is to wait for the letter, right?

Yes, but if you don't receive it about a week or so, please check with the company registrar.
As there is a date line for the right subsription, should be before the end of the month.

thanks for the answer, hmmm last questions


Let say I bought 9 lots in 1.12 (right issue) and previously own 6 lots in 7.01 (esos). So when I wanna sell it, can I choose to sell the 1.12 one, dun wan to sell the 7.01 ( cos is RUGI )? or it have to calculate like that ----> [ (7.01x6)+(1.12x9) ]/ 15 = 3.476 per lot , sell it in average price?

Axiata is very strong today. Not too sure about tomorrow as i believe the selling pressure will be very high before the RI.

Hi just a quickie, I just sold my AXIATA 1 lot @ 1.90 today (9th April 2009).

I am still entitled for the 5:4 ratio share right, since the ex-date is yesterday?

Meaning on 10th April 2009 (which is the entitlement date) I should have 800 shares right? (1000/5 x4)

I think you are entitled 4 1250 shares for every 4 shares you get 5

1000 divided by 4 x 5

1250 is odd lots already. if u dont sell it, when the form reach ur door step, i think you can subscribe 1300 to round it up and sure u will get it one. correct me if i m wrong.

This post has been edited by yloon: Apr 10 2009, 12:32 AM

Today this stock not moving much. What happen?

People are more cautious in this counter due to the right issue.

Hmm.. Axiata keeps going down for the past few days with no sign of recovery.

It will further go down once the OR being listed.

Can explain rationale behind this ? I remember that Cherroy had posted something with regards to Maybank-OR that buyers will choose between the OR and mothershare depending on the price differential. What would be the starting price of the OR ?

erm.. if buying Axiata.. what price u all think is worth it to enter now?

Buy at your comfort.

If at current price is not comfortable to you, buy lower.

anyone receive the letter for rights yettt?

will there be any transaction fee for the Right Issue??

Today closing price is pretty low: RM 1.77

The rights have been issued or what?

Not yet issue. Maybe tomorrow. I guess we will see Axiata-OR, correct ?

This should be automatic for nominee type account right ? Nvm.. tomorrow find out.

holy cow, this is such a shocking share price .. from 8.12 to 1.8 ? absurd ?

Why shocking ? It is normal in share market. If the company make money and has good forecast, then the stock price will appreciate.

But not shocking if go from 1.8 to 8.12.

guys, what is d price you all estimate for AXIATA tomorrow?

My wild guess is 1.45-1.55, 10-15% discount from yesterday's closing @ 1.77?

Anybody bought Axiata-OR?

Price has dropped 6.5 cents for the morning session.

i dont see the AXIATA-OR in my shareportfolio. I m using maybank2u nominee a/c. Is it automatically added ?

LAST DONE 0.585, -0.065

No problem with my i-trade. I can queue for buying.

Its ok now. I can see it. Maybe some delay somewhere.

You buy ?

AXIATA-OR dropped 9 cents to close at 0.560

Is this an opportunity or what?

But if you buy today, it will be 0.56 + 1.12 = 1.68. Worth to buy ? The mother share also about 1.7 only!

So, if buy tomorrow, what'll be the price?

Axiata closed at 1.77 today. So the diff if you buy the OR and later subcribe it is about 9cents only. Worth to buy ? I think the OR will drop further in these few days. Just wait and see.