【Magnum 交流專區】每股RM3 萬能全面獻購萬能萬字

蚂蚁小弟

是的，你说的我都明白，我会看好万能是因为他的派彩率有“改善空间”
怎知一期比一期糟糕...
算是另一种形式的做假帐了...

蚂蚁小弟

我在意的反而是如果我是客户，如果我买万能会不会容易中？

蚂蚁小弟

万能贴在卡中
有万能有惊喜有快乐，也有卡贴～！

dreamer55

呵呵，我也想过这个问题。根据我的实验，都一样难中，因为不管买在那里不管买什么字，我都没这中万字的命水。呵呵，不过话说回来，像我这样的小万字玩家，实验也实验不出什么结果。据我的前同事说，他和一班朋友正在研究出一组万字号码，开彩的机率比较高。根据他说，万能是比较容易中奖。我不知道他们的资本有多大，但我没有参他们，因为我觉得花多点时间在股市好过。

蚂蚁小弟

根据他说，万能是比较容易中奖。我不知道他们的资本有多大，但我没有参他们，因为我觉得花多点时间在股市好过。

我也是有同感...

最够力是，我曾经经过万能的店，有官方教人预测万字的广告...

此生飘荡何时歇

原帖由 dreamer55 于 18-11-2007 02:00 PM 发表
买万字，若买大，理论派采率是 66%，若买小，理论派采率是 65%。方便计算，可用理论值66%为基准。和理论值上下3%都还是勉强可接受的。若派采率超过70%很多，那就很有问题了。我相信多多和大马彩，多多少少也是有 ...

可否告知为什么是６６％吗？
想了解一下

dreamer55

有好几种算法，最简单的方法是，你假设你花RM10,000把所有号码都包了，那你可以“赢”得所有头二三入围安慰奖，总共RM6,600的彩金，把这些彩金除以RM10,000，就可以得到理论上的派彩率，也就是66%了。

dreamer55

原帖由 蚂蚁小弟 于 18-11-2007 08:04 PM 发表

我也是有同感...

最够力是，我曾经经过万能的店，有官方教人预测万字的广告...

这情形真是好笑。就好像一个大强盗对一个小强盗说，那，你去学这几招武功，学了你就可以打败我，把我的钱拿回去了。呵呵，我不知道是不是有小强盗会去相信这个“官方广告”，我是肯定不信的。要赢大强盗是不可能的，和他站在同一边吃吃其他小强盗，倒是不错的选择。

publicpang

难道万能预测到了今天的结果....?!

蚂蚁小弟

MPHB 和 MAGNUM 双双逃过这一劫
MPHB有一点暗槌，如果等到今天就可以买便宜货？

MAGNUM 难道真的有IOICORP的命水？（记得吗？它也停牌很久，等到复牌时，市场已经有好转...)

publicpang

记得...但他还是补跌....过后...就冲天炮了....

publicpang

傳私有化有“大甜頭” 萬能合理獻購價3.8令吉
大馬  2007-11-20 12:04
（吉隆坡訊）馬化控股（MPHB,3859）或將萬能企業（MAGNUM,3735）私有化的傳言，並沒有隨著兩家公司暫停股票交易而停止；儘管市場傳出馬化控股的獻購價達每股3令吉40仙至3令吉50仙，分析員卻認為3令吉80仙才能真正反映萬能企業的潛在價值。

僑豐研究指出，萬能企業目前估值偏低，包括其非核心資產在內，特別是在菲律賓持有40%股權的聯號公司──菲律賓賽馬俱樂部股權，更猶如皇冠上的珠寶，小股東應謹慎評估有關私有化的建議。

它說，單是菲賽馬俱樂的40%股權，萬能企業的潛在折扣現金流價值，便達每股36仙至51仙之間，因為後者龐大的地庫，擁有很好的發展潛能。

馬化控股與萬能企業是於上週五（16日）停牌至本週三（21日），以便公佈一項涉及兩家公司的重大企業消息。一般相信，馬化控股將展開全面獻購，將萬能企業私有化。

馬化控股持有萬能企業55.45%股權，若以萬能企業目前每股3令吉8仙計，需要斥資19億8540萬令吉，來全面收購未持有的44.55%股權。

市場盛傳，馬化控股的全面獻購價，介於3令吉40仙至3令吉50仙之間，相等於暫停交易前的3令吉8仙溢價約12%。

僑豐研究說，若要全面獻購計劃更具吸引力，每股合理獻購價格需要3令吉80仙或以上，因為萬能企業實質價值已達每股4令吉。

它說，市場傳出的每股3令吉45仙尚沒有包括萬能企業總值18億令吉的非核心業務，而這佔萬能企業36%資產，主要是現金及上市公司股票（總值6億4800萬令吉）。

同時，萬能企業的產業及地庫價值3億5500萬令吉或每股23.8仙，使其調整後淨資產價值每股達3令吉75仙。

分析員表示，萬能企業揚升空間，胥視馬化控股是否有很好及具創意的融資架构，包括以部份現金及部分股票的方式支付，讓萬能企業股東仍然有機會通過持有馬化控股的股票，享受萬能企業私營化後的未來成長。

分析員指出，菲律賓賽馬俱樂部目前正計劃將位於麥卡迪的57英畝的地庫，注入它持有68.8%股權上市子公司──JTH戴維斯，而後者將以新股支付。

這將使萬能企業在菲律賓賽馬俱樂部的投資，變得更流通性及加強價值，從而釋放在菲律賓賽馬俱樂部的投資價值。

僑豐研究說，由於菲賽馬俱樂部非常潛在價值深具吸引力，所以萬能企業小股東在現階段即進行套現還是有點過早，不妨等待馬化控股的出價。

0758

20-11-2007: OSK Research: Magnum’s fair value at RM3.80 per share

Email us your feedback at fd@bizedge.com

MULTI-PURPOSE Holdings Bhd (MPHB) would have to offer RM3.80 per share and above if it makes a fresh bid to take its 55.45%-owned Magnum Corporation Bhd private, says OSK Investment Research.

The research house estimated Magnum’s intrinsic value at RM4 per share for the general offer (GO) to be attractive to minority shareholders.

Trade in Magnum and MPHB shares was suspended last Friday for an impending corporate exercise which could involve an offer by the latter to take the company private.

OSK Research said there were rumours the pricing of the GO could range from RM3.40 to RM3.50 per share or 12% above Magnum’s pre-suspension price of RM3.08 per share.

It said if the rumours were true, a GO pricing at RM3.45 per share valued Magnum’s core gaming business at an undemanding 11.7 times FY08 earnings per share (EPS) and 12.4 times annualised nine months core EPS against industry average of 14 to 16 times.

MPHB might make a GO to acquire the remaining 44.55% from minority shareholders at an estimated cost of RM1.98 billion based on Magnum’s current market capitalisation of RM4.46 billion or RM3.08 per share.

“Our implicit core gaming valuations are derived after stripping our Magnum’s non-core assets worth an estimated RM1.8 billion. Of the RM1.8 billion, close to 36% are in the form of liquid cash and quoted investments (RM648 million),” it said.

Even if it attached no value to its properties and landbank worth RM355 million or 23.8 sen per share (based on highly conservative net book values), real net asset value (RNAV) valuations for Magnum are still worth an estimated RM3.75 per share or a 22.7% premium to its pre-suspension price.

“We believe that for the GO to be attractive to minorities, a pricing of RM3.80 per share and above should serve as a fair indication of Magnum’s intrinsic value, which we estimate to be RM4 per share,” OSK Investment Research said.

Assuming a hypothetical GO pricing of RM3.45 per share, the research house said the cost to buy out minority Magnum shareholders could amount to RM2.2 billion on a gross level and RM1.58 billion on a net level.

Since MPHB was in a debt position at holding company level, it would have to further gear up to finance the privatisation.

“As such, the incremental free cash flow of RM125 million per annum from the additional 45.5% stake less interest cost estimated at RM106.7 million per annum per annum, equates to a net FCF yield of just 1.3% over the potential net investment cost of RM1.58 billion.”

“If the privatisation story is indeed true, MPHB’s willingness to undertake such an exercise in return for ultra low yields may be an indicator of the significant valuation unlocking potential of Magnum’s non-core assets, in our view,” it said.

OSK Investment said the upside risk could be in MPHB’s ability to structure an innovative “part cash part share” financing structure which would ultimately enable Magnum’s shareholders to ride on the future growth of the privatised entity.

蚂蚁小弟

是的，大家都纷纷在揣测献购的价格。
大部分都希望是3.80至4.00 这个范围。
希望MPHB识do啦...

tn728202

原帖由 蚂蚁小弟 于 20-11-2007 04:05 PM 发表
是的，大家都纷纷在揣测献购的价格。
大部分都希望是3.80至4.00 这个范围。
希望MPHB识do啦...

為什么不能更高？
一定要在那個范圍呢？

0758

mphb做么到今天还没宣布。。急死人啦。。。明天最后一天

origen

Submitting Merchant Bank        :        RHB INVESTMENT BANK BERHAD
Company Name        :        MULTI-PURPOSE HOLDINGS BERHAD
Stock Name         :        MPHB
Date Announced        :        20/11/2007


               
Type        :        Announcement
Subject        :        MULTI-PURPOSE HOLDINGS BERHAD (“MPHB” OR THE “COMPANY”)

PROPOSED PRIVATISATION OF MAGNUM CORPORATION BERHAD (“MCB”)

Contents :

1. INTRODUCTION

            On behalf of the Board of Directors of MPHB (“Board”), RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that MPHB and CVC Asia Pacific Limited (“CVC”) have, on 20 November 2007, signed a heads of agreement (“HOA”) with the intention to privatise MCB, its 55.54% owned subsidiary, via a selective capital reduction and repayment exercise under Section 64 of the Companies Act, 1965 (“Act”) (“Proposal”).

            Further, on 20 November 2007, MPHB was informed by MCB that its Board of Directors has agreed to table to its shareholders to consider the Proposal, subject to the signing of a definitive agreement between MPHB and CVC encompassing the Proposal.

2. SALIENT TERMS OF THE HOA


            The salient terms of the HOA are as follows:

            (i) A special purpose vehicle (“SPV”) will be established for the purpose of facilitating the Proposal. MPHB and the funds managed by CVC will each hold 51% and 49% of the equity stake in the SPV, respectively. The parties may bring in other equity partners into the SPV as mutually agreed, subject to MPHB having at least a 51% equity stake in the SPV.

            (ii) The Proposal encompasses a selective capital reduction and repayment exercise pursuant to Section 64 of the Act (“Proposed SCR”), which will amongst others, involve the following:
                        (a) the Proposed SCR will be funded by both interest-free loans provided by SPV (“SPV Advance”) and borrowings by MCB. The repayment of the SPV Advance will be waived to enable MCB to have sufficient reserves to facilitate the Proposed SCR;
                        (b) the share capital of MCB will increase through the capitalisation of the reserves of MCB with a bonus issue of new ordinary shares of RM0.50 each in MCB (“MCB Shares”) (“Proposed Bonus Issue”). The authorised share capital of MCB shall accordingly be increased to facilitate the Proposed Bonus Issue;

                        (c) immediately thereafter, MCB will undertake the Proposed SCR wherein the entire issued and paid up capital of MCB (including the bonus shares to be issued) will be cancelled by sanction of the High Court of Malaya, save for 1,000 MCB Shares currently held by MPHB. MPHB will waive its entitlement to the capital repayment pursuant to the Proposed SCR. The Proposed SCR will enable the shareholders of MCB other than MPHB (“Entitled Shareholders”) to receive RM3.45 for each MCB Share held prior to the Proposed Bonus Issue. For avoidance of doubt, the bonus shares to be issued under the Proposed Bonus Issue will not be credited into the central depository system accounts of all shareholders of MCB and the Proposed Bonus Issue is to be implemented solely for the purpose of facilitating the Proposed SCR; and
                        (d) upon completion of the Proposed SCR, MCB will become a wholly-owned subsidiary of MPHB and MCB will be delisted from the Official List of Bursa Malaysia Securities Berhad.
            (iii) Immediately upon completion of the Proposed SCR, MPHB will dispose of MCB, its then wholly owned subsidiary, to the SPV for a total consideration equivalent to RM3.45 multiplied by the total number of MCB Shares beneficially held by MPHB as at the books closing date to determine the entitlement under the Proposed SCR and immediately prior to the Proposed Bonus Issue. Consequently, MPHB shall have an effective interest of at least 51% in MCB through SPV.

            (iv) MCB currently holds 98.25% of Magnum 4D Berhad (“M4D”). Upon the Proposal becoming unconditional, MCB shall extend a general offer for all the remaining ordinary shares in M4D not already owned by MCB and/or the parties acting in concert with it at a cash offer price of RM3.00 per share or a total amount of approximately RM8.8 million.

            (v) The HOA shall terminate upon the earliest of the following:
                        (a) three (3) months from the date of execution of the HOA subject to extension between the parties;

                        (b) the execution of a definitive agreement or agreements in respect of the Proposal; or

                        (c) either MPHB or CVC giving reasonable notice to the other, to terminate the HOA.
                        The proposed capital repayment of a cash amount of RM3.45 per MCB Share prior to the Proposed Bonus Issue was arrived at after taking into consideration, among others, the following:
                        (i) closing price of MCB Shares on 15 November 2007, and the 5-day, 1-month and 3-month weighted average market price of MCB Shares up to and including 15 November 2007, being the last market day prior to the suspension in the trading of the MCB Shares for the purposes of this announcement, of RM3.04, RM3.10, RM2.98 and RM2.89 respectively; and

                        (ii) earnings per share of MCB, its subsidiaries and associated companies (“MCB Group”) for the past 2 financial years ended 31 December 2006 and 31 December 2005 of 16.03 sen and 13.09 sen respectively. Based on the proposed cash consideration of RM3.45 per MCB Share, this represents a price-earning multiple of 21.5 times and 26.4 times respectively; and

                        (iii) a price to book ratio of 4.2 times based on the net tangible assets per share of MCB Group of RM0.82 based on the unaudited consolidated balance sheet of MCB Group as at 30 September 2007.

3. INFORMATION ON CVC


            CVC is incorporated in Hong Kong and it is an investment advisor to various funds with a total commitment of over US$2.7 billion, including CVC Capital Partners Asia Pacific II L.P. and CVC Capital Partners Asia Pacific II – Parallel Fund. It is part of CVC Capital Partners, a leading global private equity firm managing over US$26 billion in equity capital.

4. RATIONALE FOR THE PROPOSAL

            The Proposal offers an opportunity for MPHB to bring in CVC, a strong partner, to complement its continuing efforts to enhance the future performance of the gaming business of MCB. The Board believes that having CVC as a partner, a leading global private equity firm with proven track record in creating value in its investments, including gaming businesses, will allow MPHB to achieve the aforesaid objective.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS


            None of the Directors and major shareholders of MPHB and/or persons connected to them have any interest, direct or indirect, in the Proposal.

6. ADVISERS


            RHB Investment Bank has been appointed by the Board as the adviser for the Proposal. In addition, Newfields Advisors Sdn Bhd (“Newfields”) and Goldman Sachs (Singapore) Pte. have been appointed as joint financial advisers of MPHB for the Proposal.

            CIMB Investment Bank Berhad and Newfields have also been appointed as the joint-advisers to the SPV for the Proposal.

7. FURTHER ANNOUNCEMENT UPON EXECUTION OF DEFINITIVE AGREEMENT

            Further announcement will be made upon signing of the definitive agreement.



8. DOCUMENT FOR INSPECTION

            The HOA will be available for inspection by the shareholders of MPHB at its registered office at 39th Floor, Menara Multi-Purpose, Capital Square, No. 8, Jalan Munshi Abdullah, 50100 Kuala Lumpur during the normal business hours from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.


This announcement is dated 20 November 2007.

弹煮

偶不会英文
上面的通告讲什么，到底MPHB offer多少钱？

0758

RM3.45？？？？？

origen

应该是rm３。４５。。。还有bonus share，不过好象没有算在资本偿还内。。