Dutaland already up 66%! Time to be cautious? Yes, if you go short term punting as Bursa is filled with day traders and gamblers. But Calvin still think it has more room to go up on these reasons:
- A Cash Proceed of Rm750 millions will come in a month’s time. Since total paid up shares are 846,118,039 it tanslates to a 88.6 sen Cash windfall. That’s 21.6 sen more than current price of 67 sen today.
2. Some Cash will be deployed to complete the Grand Duta Hotel. Already 33 storey or more up. So less Cash will be needed. Will there be a surplus for a Cash Payout?
3. Why there is a POSSIBLE CASH PAYOUT?
Pm Corp did that & paid out 8 Sen Cash
RceCap did that and paid out 7.5 Sen Cash
So for no reason why go for Capital Exercise?
[DUTALND] Change In Director’s Shareholding – DATO’ YAP YONG SEONG on 03-May-2007
|Stock||[DUTALND]: DUTALAND BHD|
|Name||DATO’ YAP YONG SEONG|
Details of Changes:
|Date of Change||Type||Number of Shares||Price|
|04-Apr-2007||Acquired||248,571,429||1.050 (THIS IS THE ENTRY PRICE!!)|
|Nature of Interest||Direct and Indirect|
|Reason||1) The no. of securities change of 50,400 represents the difference in no. of shares held by Dato’ Yap Yong Seong before and after the capital reduction and consolidation. 2) Acquisition of 20,000 shares through a subscription of Rights with Warrants. 3) The no. of securities change of 65,887,130 represents the difference in no. of shares held by Duta Equities Sdn Bhd (“DESB”) before and after the capital reduction and consolidation of Mycom Berhad. Dato’ Yap Yong Seong is deemed interested by virtue of his spouse, sons and his shareholdings in DESB. 4) The acquisition of 7,320,793 shares by DESB through a subscription of Rights with Warrants. 5) Consideration shares received by Kenny Height Developments Sdn Bhd (“KHD”) under the Restructuring Scheme|
|Consideration||Cash and otherwise than in cash|
Total no of securities after change
|Date of Notice||27-Apr-2007|