Dear Friends and Fellow Investors,
I was reading Exerpts from Robert Kuok Memoirs and I quote
YES, PRIME MINISTER
Within a year of our launching MISC, Tun Razak, who by then was prime minister, sent for me. Razak said, “I want you to make a fresh issue of 20 per cent of new shares. I’m under pressure because there is not a high enough Malay percentage of shareholding.” I said, “Tun, are you quite serious about this request?” He answered, “Yes, Robert.” So I replied that I would do it. I went back and, with a little bit of arm-twisting, persuaded the board to pass a resolution waiving the rights of existing shareholders to a rights issue (MISC was not yet a public company). Razak allocated all the new shares to government agencies. So, I was diluted to 20 upon 120 – the enlarged base – and Frank became 15 upon 120.
One or two years later, Razak again sent for me. He said, “I’m under a lot of pressure at Cabinet meetings. You know, Robert, it’s just the price of your success. MISC is doing well, people are getting envious. But now, instead of giving in to those factions, what I’ve decided is this: Issue another twenty per cent, five per cent to each of four port cities in Malaysia.”
I HAVE ALWAYS BELIEVED IN SOME DEGREE OF SOCIALISM WHEN YOU HAVE MADE MONEY
This entailed enlarging the capital base to 140 from the original 100, making the Malaysian Government the largest single shareholder and relegating Kuok Brothers to second position. And he again wanted the shares issued at par – the original issue price.
I said, “Tun, I have always cooperated with you, but it’s getting very difficult. Three, four years have elapsed from formation, but I would be loath to ask you for a premium since we are a growing company. So I will go back and ask the board again to issue shares at par to you. But Tun, can you please promise me that this is the last time?” He smiled and very gently signified his agreement, without saying the words.
This has been the norm in Malaysia. Govt wants to take certain percentage in profitable companies & give it to Bumiputras. Examples are Bumi quotas when Shares are at IPO stage. Quotas for Bumi in Universities. Bumi Lots from Every Housing Developers at 7% to 15% Discount. And Especially for Govt Linked Companies like TIME.COM, FABER, DRB AND NOW MRCB.
MRCB, A GOVT LINKED STOCK?
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PRIVATISATION AGREEMENT ENTERED INTO BETWEEN RUKUN JUANG SDN BHD, A 85%-OWNED SUBSIDIARY OF MRCB LAND SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MRCB, THE GOVERNMENT OF MALAYSIA, REPRESENTED BY THE MINISTRY OF YOUTH AND SPORTS AND SYARIKAT TANAH DAN HARTA SDN BHD (“PRIVATISATION AGREEMENT”) RELATING TO THE REFURBISHMENT AND UPGRADING OF FACILITIES LOCATED AT THE NATIONAL SPORTS COMPLEX IN BUKIT JALIL, KUALA LUMPUR FOR A TOTAL CONTRACT SUM OF RM1,631,880,000 (“PROPOSED PRIVATISATION”)
MRCB alloted 20% private Placement Shares to BANK RAKYAT under the instruction from BN Govt
[MRCB] Notice of Interest of Substantial Shareholders – BANK KERJASAMA RAKYAT MALAYSIA BERHAD on 22-Aug-2016
Substantial Shareholder’s Particular:
||BANK KERJASAMA RAKYAT MALAYSIA BERHAD
Details of Changes:
||Malaysian Ringgit (MYR)
|Date of Change
||Number of Shares
|Nature of Interest
||Ordinary Shares of RM1.00 each
||Subscription of ordinary shares under a private placement exercise.
Total no of securities after change
|Date of Notice
AND IF YOU CHECK THE ORIGINS OF BANK RAKYAT IT COULD BE TRACED TO THE MINSTER OF FINANCE, GOVT OF MALAYSIA
Bank Rakyat (Bank Kerjasama Rakyat Malaysia Berhad) is an Islamic cooperative bank which was established on 28 September 1954 under the Cooperative Ordinance of 1948 (Cooperative Societies Act 1993), following the growth of the cooperative movement in Peninsular Malaysia. The bank is an entity under the control of the Ministry of Domestic Trade, Cooperatives and Consumerism since 2004; in 1989 it was controlled by the Ministry of Land and Co-operative Development and the Ministry of Finance and in 2002 changed control to the Central Bank of Malaysiaunder the Development of Financial Institution Act.
So the Secret is Out!
BN GOVT WILL BE GIVING THE LION SHARES OF PROJECT AWARDS TO MRCB!
Knowing these FACTS Insiders of MRCB are Gobbling Up ESOS shares at Rm1.00 in no time. See
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : ESOS MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR THE “COMPANY”) ESTABLISHMENT OF A LONG-TERM INCENTIVE PLAN OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MRCB (EXCLUDING TREASURY SHARES), FOR THE ELIGIBLE EMPLOYEES OF MRCB AND ITS SUBSIDIARIES (EXCLUDING SUBSIDIARIES WHICH ARE DORMANT) AND ELIGIBLE EXECUTIVE DIRECTORS OF MRCB (“LTIP”)
|MALAYSIAN RESOURCES CORPORATION BERHAD
||NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR THE "COMPANY")
ESTABLISHMENT OF A LONG-TERM INCENTIVE PLAN OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MRCB (EXCLUDING TREASURY SHARES), FOR THE ELIGIBLE EMPLOYEES OF MRCB AND ITS SUBSIDIARIES (EXCLUDING SUBSIDIARIES WHICH ARE DORMANT) AND ELIGIBLE EXECUTIVE DIRECTORS OF MRCB ("LTIP")
Reference is made to the Company’s earlier announcements in relation to the LTIP. Unless otherwise stated, the abbreviations and definitions used in this Announcement shall have the same meaning as defined in the abovementioned announcements.
On behalf of the Board, RHB Investment Bank wishes to announce that MRCB has implemented the LTIP with effect from 28 November 2017, being the date on which the Company fully complies with the requirements under Paragraph 6.43(1) of the Listing Requirements.
This Announcement is dated 28 November 2017.
THIS ESOS was QUICKLY IMPLENTED JUST AFTER THE RECENT RIGHTS ISSUE OF WHICH DIRECTORS/INSIDERS HAVE ALL TAKEN UP. And why the Hurry for More ESOS? The Answer is obvious.
THERE WILL BE A MASSIVE PUMPING OF PROJECT AWARDS FOR MRCB IN COMIND DAYS, WEEKS OR MONTHS STILL AHEAD
SO CALVIN ENCOURAGE ALL FELLOW i3 FORUMERS TO JOIN US IN THIS
FOR YEAR 2018 TILL GE14 ELECTION DAY
Republic of Singapore
BANK RAKYAT ENTRY COST IS RM1.24
RI WERE NOT EXERCISED. YET MRCB RI WERE OVER SUBSCRIBED BY 7.3%
WHO WERE THE BUYERS WHO TOOK UP BANK RAKYAT PORTION?
EVER WONDERED WHY?
WILL MINISTRY FINANCE PUSH MRCB ABOVE ITS HOLDING COST OF RM1.24?
JUST THINK VERY CAREFULLY BEFORE INVESTING