PNE Industries

[Harvest Time]

PNE PCB Berhad market cap is MYR$60.82m.

Exchange rate is 2.57874

==>
0.428 * 60.82m /2.57874
= S$10.09m

[BlueKelah]

PNE PCB Berhad market cap is MYR$60.82m.

Exchange rate is 2.57874

==>
0.428 * 60.82m /2.57874
= S$10.09m

Hi Harvest Time, don't need to spam the forum by updating everyday the same item, maybe once a week is enough, we are not day traders here.

Just buy in PNE and wait for the EGM, then the sale. PNE PCB at current price is trading at NAV so this deal is quite fair.

I would think PNE Ind has no intention of expanding other businesses as their current business is doing well and they were generous enough to give the special dividend which would have been withheld had they planned to do something extra business wise. They may have some capex in the future but that can and should be internally funded and which would also mean business is good.

=vested small position=

[Harvest Time]

EGM resolution was passed.


http://infopub.sgx.com/Apps?A=COW_CorpAn...c0af652c4a

[investright]

My guess is that they have started unloading their stakes in PNE PCB Berhad since yesterday after the EGM. Prices has fallen from a high of about RM1.03 to RM$0.94 now with relatively high volume. Hopefully they will release some cash to shareholders in oct/nov when their full year report is out.

[Harvest Time]

After dispose PNE PCB Berhad, cash, NAV, NTA will increase.
Mgmt has consistently pay dividend.
Current NAV and NTA is 21.43 cents.
I won't be surprise if they have further plans to enhance shareholder value.

[BlueKelah]

I had someone go to the EGM for me and ask them but management would not say who the other party who is buying up their stake. Just wanted the mandate to be passed in the EGM. And wonder what benefit the other party gets for overpaying for PNE PCB's loss making business. Unless this is done to bring money into Singapore from malaysia. Maybe the company buying up PNE PCB will declare bankrupt later so indirectly the assets would be transferred to Singapore??

-vested-

[Pursuitofknowledge]

If the management were to offload their entire 42.78% interest in the open market, definitely not a easy feat without causing a significant dip in share price.

Will be a different story if there is a agreed buyer, in this case, the agreed price might be a discount to the current price.

Current cap for PNE PCN Berhad is ~62m while its net book value is ~60m.

Nevertheless, the sale of PNE will add additional cash to PNE. The question is how much?

[Harvest Time]

PNE PCB has no borrowing.
Cash RM$8.564m
Fixed Deposit RM$15.143m
==> Total cash equiv: RM$23.707m


Book value is approx RM$60m

Small market cap, with good cash level.
It is a good candidate for take over or RTO (back door listing).

[Pursuitofknowledge]

If the management were to offload their entire 42.78% interest in the open market, definitely not a easy feat without causing a significant dip in share price.

Will be a different story if there is a agreed buyer, in this case, the agreed price might be a discount to the current price.

Current cap for PNE PCN Berhad is ~62m while its net book value is ~60m.

Nevertheless, the sale of PNE will add additional cash to PNE. The question is how much?

Managed to find more information after reading the circular. File attached.

[orangetea]

I noticed PNE Micron Holdings' Tan family (substantial shareholders) were potentially (not finalised) selling their (not exceed 30%) stake today.

The shareholdings revealed same Tan family.

The disposal of PNE PCB BHD. and potential selling of PNE Micron stake.

What do you guys make out of this?

-Raising cash
-Retiring
-Reinvest
-Run