News on INGENS

Ingenuity's Chin to respond to Ninetology offer tomorrow

KUALA LUMPUR: Chin Boon Long, one of the major shareholders of Ingenuity Solutions Bhd, will explain his stand on the mind-boggling offer for his shares from Ninetology Marketing Sdn Bhd at a press conference tomorrow.

However, attempts to contact him yesterday to find out the gist of the meeting were unanswered.

In his invite to the media via an email, Chin said the press conference is being called in his own "personal capacity in response to the offer I received for my shares in Ingenuity Solutions".

He also sought the media assistance in extending the invitation to all shareholders of Ingenuity, 1 Utopia Bhd as well as other concerned stakeholders.

Ace Market-listed Ingenuity has been in the spotlight in the the past two weeks following the unusual market activity of its stock and the proposed takeover announcement by Ninetology.

The price Ninetology is offering - 55 sen per share - has been enough to create a buzz in the market, especially when Ingenuity's shares were trading at only 10 sen a piece before the unusual market activity took place in the middle of last month.

When Ninetology made known its intention last Thursday, Ingenuity's stock closed at 37 sen and yesterday, it fell two sen to 35 sen, a drop of 5.41 per cent.

While it is unsure if Chin's press conference tomorrow is to announce his intention to sell or not to sell his stake, it will be interesting to see if the other major shareholders, namely Landasan Simfoni Sdn Bhd and Titanium Hallmark Sdn Bhd, are on the same page with him.

Apart from Chin, Landasan and Titanium, the other major shareholder is Firstwide Success Sdn Bhd, of which Chin has an indirect stake of 18 per cent, making his direct and indirect shareholding in Ingenuity at 30 per cent.

Landasan and Titanium hold a collective nine per cent stake in Ingenuity.

Ninetology's offer to these shareholders end on September 12.

Meanwhile, Chin's 1 Utopia, of which he is the managing director, was the third most active stock yesterday, with the counter closing 11.76 per cent, or one sen, higher at 9.5 sen, a four-month high.


Ingenuity falls 25% in active trade

KUALA LUMPUR: Shares of Ingenuity Solutions Bhd fell 25.7% in afternoon trade on Tuesday ahead of a press conference called by substantial shareholder Chin Boon Long to clear the air over the recent developments.

At 4.19pm, the share price of the ACE Market-listed company was down nine sen to 26 sen. There were 96.36 million shares done.

Ingenuity-WA fell 1.5 sen to nine sen with 39.92 million units transacted.

The FBM KLCI slipped 0.27 of a point to 1,653.63. Turnover was 1.14 billion shares valued at RM1.089bil. There were 238 gainers, 468 losers and 320 counters unchanged.

Ingenuity, a tech firm which made a net profit of RM3.2mil in its latest quarter, has attracted trading interest in recent days following events leading to the announcement of a possible takeover of Ingenuity.

In the latest development, Chin was quoted saying on Tuesday he would be addressing the media and stakeholders in his personal capacity. The press conference will be held Wednesday at 10.15am in Federal Hotel, Jalan Bukit Bintang, Kuala Lumpur.

He sent out an invite to the media and hopes to extend the invite to all shareholders of Ingenuity Solutions, 1 Utopia Bhd as well as other concerned stakeholders. Chin is also the managing director of 1 Utopia.

To recap, last Thursday, Ninetology Marketing Sdn Bhd, a relatively unknown technology firm with a paid-up capital of RM2, announced it had "ready funds" to take over Ingenuity.

Ninetology had offered to acquire a 39.44% stake in the company at 55 sen per share. If the deal goes through, this would trigger a mandatory general offer to acquire all the remaining shares Ninetology has not already owned in Ingenuity.

Ingenuity it had received an offer letter from Ninetology to purchase all of the shares held by Chin, Firstwide Success Sdn Bhd, Landasan Simfoni Sdn Bhd and Titanium Hallmark Sdn Bhd amounting to a total of 214,297,656 shares, representing 39.44% of the total equity interest of Ingenuity, at an offer price of 55 sen per share.

接受Ninetology收购献议？灵通大股东5日说分明 

（吉隆坡3日讯）灵通方案（INGENS，0034，创业板科技组）大股东是否会接受Ninetology行销公司的收购献议，答案料將在本週三揭晓。

灵通方案大股东陈文龙將在本週三（5日）举行新闻发佈会，以厘清他是否接受Ninetology行销公司较早时作出的股权献购建议及其他相关疑问。

陈文龙在回答《星洲財经》电话询问时指出，他本身认识有关买家Ninetology行销公司，不过，后者在向他及其他3个大股东作出股权献购建议之前，並没有事前照会他，他也是在Ninetology行销公司正式宣佈收购计时才知道有关献议。

个人名义发出邀请函

陈文龙今日以个人名义发出新闻发佈会邀请函，於9月5日（週三）早上10时15分举行新闻发佈会，地点为吉隆坡惹兰武吉敏登联邦酒店第15楼。

股东或权益持有者亦可出席

他表示，除了记者之外，该公司及乌托邦（UTOPIA，0140，创业板科技组）的股东或权益持有者，若是有兴趣也可出席新闻发佈会，以便提出问题，以厘清一切有关併购或相关事宜。

他表示，自从市场传出併购消息与传言后，他本身接到多方的查询，使他深感压力，特別是对灵通方案及乌托邦的影响，所以，他將將会在週三的新闻发佈会一次过地厘清各项疑问。

陈文龙为灵通方案大股东，也是乌托邦的股东及董事经理。

Ninetology行销公司是在上个月29日（週四）正式向灵通方案的4名大股东作出收购股权的献议，每股收购价为55仙。一旦落实，將会以同样价格全面献购其余尚未持有股权。

灵通方案今日交易保持热络，惟全天回落2仙至35仙，成交量为3千605万1千200股，为全场第五热门股。（星洲日报／財经）

Above news announced that a press conference will be held by Chin tomorrow at 10.15am in Federal Hotel, Jalan Bukit Bintang, Kuala Lumpur.  So, tomorrow will know the result whether Chin is going to accept the offer or not.  Based on today's closing at RM0.225, seem like that deal is not that promising.

News on DiGi

DiGi unveils new prepaid plan

DiGi Telecommunications Sdn Bhd has introduced new 'Easy Prepaid', a new prepaid plan that offers 24-hour free calls, short message service (SMS) and Facebook access.

In a statement today, DiGi said the offerings, effective today, were tailored for savvy customers who were comfortable using both voice and data channels to stay connected with their loved ones.

"They can interact with three Buddyz freely at zero charges within their self-created 'mini community of four' via phone calls, SMS and Facebook," it said.

Its head of prepaid, Ting Shiew Han, said with 80 per cent of Malaysian mobile subscribers being prepaid users, DiGi was leading the charge to address their needs by delivering the best value in the market with relevant and richer mobile features that consumers could truly appreciate.

"DiGi has a strong brand affinity with youths and is confident that this vibrant market segment will find our latest proposition appealing.

"After all, 50 per cent of the Malaysia population are below 25 and they are one of the most discerning, price sensitive and mobile Internet-savvy people around," he said. -- Bernama


DiGi gets aggressive with new prepaid mobile plan

PETALING JAYA (Sept 4, 2012): DiGi Telecommunications Sdn Bhd has launched an aggressive prepaid mobile phone plan that allows subscribers to enjoy 24-hour free calls, SMSes and Facebook access.

Called DiGi Easy Prepaid, DiGi said this refreshed offering is tailored for savvy consumers who are comfortable using both voice and data channels. Existing DiGi Easy Prepaid customers can migrate to the new plan from Sept 14 for a RM5 fee.

"They can interact with three Buddyz (DiGi numbers) freely and easily at zero charges within their self-created "mini community of four" via phone calls, SMS and Facebook," said DiGi in a statement today.

Apart from the three Buddyz, calls are charged at 30 sen per minute to all networks and 8 sen per SMS to non-DiGi numbers.

"With 80% of Malaysian mobile subscribers being prepaid users, DiGi is leading the charge to address their needs by delivering the best value in the market with relevant and richer mobile features that customers can truly appreciate," DiGi head of prepaid, Ting Shiew Han, said.

"DiGi has a strong brand affinity with youths and we are confident that this vibrant market segment will find our latest proposition appealing. After all, 50% of Malaysia's population are below 25 years old and they are one of the most discerning, price sensitive and mobile internet savvy people around.

"We believe that the new features of DiGi Easy Prepaid will further enhance user experience and empower customers to stay connected with their loved ones in the most affordable and convenient way – fulfilling our ambition to deliver 'Internet For All'," he added.

Another attractive and first-of-its kind feature in the country is the SMS Bonus, which gives DiGi subscribers and people in its Buddyz list free SMSes after each reload transaction from RM10.

"With every RM10 reload, the DiGi Easy Prepaid subscriber will receive 10 free SMSes to all networks whereas three Buddyz will receive five free DiGi-to-DiGi SMSes each," said Ting.

DiGi is also the only mobile service provider in the country to offer free Facebook access and music via its Music Bonus feature. The latter offers free three MP3 songs every month.

As for Facebook access, customers can easily update their Facebook status or receive alerts via Facebook Zero.

Datasonic IPO

Datasonic shares surge on Bursa debut

Datasonic Group Bhd, information and communications technology (ICT) solutions provider, including smart card personalisation in Malaysia, made its debut on the Main Market of Bursa Malaysia today at RM2.30 for a 30 sen premium from its RM2 initial offer price, with 907,500 shares traded as at 9 am.

Managing Director Datuk Hanifah Noordin said the group was happy with the opening price and hopes for a steady growth.

"The reason why we went for listing on the Bursa Malaysia is to expand our business overseas. In the past, eventhough we have the credibilities, we do not have the vehicle that foreign governments were looking at.

"One of the things that we do well in Malaysia is the Europay, Mastercard and Visa migration, and we have done it for most of the banks here. We want to take this credentials overseas, whereby the potential and population are much bigger," he told a press conference.

Hanifah said when the group was first incorporated in 2005, their business revenue came 100 per cent from its projects with the government, and currently, the percentage had reduced to 80 per cent.

"We try very hard to diversify our revenue sources, but we still see our revenue coming mainly from our projects with the government, including foreign governments," he said, adding that the group planned to initially focus on neighbouring Asean countries and the Middle East.

Commenting on the utilisation of the listing proceeds, Chairman Tan Sri Hashim Mohd Ali said a large portion would be used as capital expenditure, namely the setting up of a new smart card manufacturing plant and new headquarters-cum-regional personalisation solutions centre.

"These are all in line with the group's plans to grow our business and streamline our operations," he said.
Moving forward, Hashim said the group's prospects are looking good, driven by its strong RM500 million order book.

Earlier this year, Datasonic Group secured a five-year contract through an open tender to supply 10 million new passport polycarbonate datapages with laser engraving personalisation equipment to the Immigration Department from Feb 1, 2013 to Jan 31, 2018. -- Bernama

News on IHH

IHH good as long-term investment

INVESTORS hoping for a significant jump in the share price of IHH Healthcare Bhd will likely be disappointed.

Despite having posted surprisingly impressive quarterly earnings over the week, market observers believe the rise in the share price of IHH will likely be at a measured pace.

IHH's shares closed at RM3.20 on volume 16.3 million on Thursday. That represented a nine sen gain from Tuesday when the company unveiled its financial results for the second-quarter ended June 30.

IHH's second-quarter net profit showed an impressive increase of more than five times to RM403.54mil from the corresponding period last year. Earnings per share (EPS) rose to an impressive 6.51 sen from 1.74 senin the same quarter last year.

Turnover was more than three times higher at RM2.7bil for the second-quarter, compared with RM816mil for the preceding year's corresponding period.

For the first six months of 2012, IHH's net profit stood at RM527.4mil, with an EPS of 8.63 sen, compared with a net profit of RM178.5mil and an EPS of 4.97 senin the same period last year. Turnover of the company for the first half rose to almost RM4bil from RM1.7bil a year earlier.

No doubt, such a trend underscores the promising future and potential of IHH - the second-largest listed healthcare services provider by market value in the world (and the largest in Asia-Pacific).

“While earnings have received a huge boost from one-off items, IHH's core segments have exhibited decent growth, led by its hospitals in Malaysia and Singapore,” Public Investment Bank analysts comments about IHH's results in their report.

Following IHH's recent financial results announcement, some analysts have upgraded their target price for IHH. But, on average, the 12-month target price for IHH based on a Bloomberg poll of 14 analysts was only higher by one sen at RM3.40, compared with RM3.39 just days ago.

Not surprisingly, according to analysts, at its present price, IHH's shares are considered to be rather “expensive” when compared to the valuation of its global peers.

At RM3.20 per share, IHH trades at more than 40 times its estimated earnings for 2012. In comparison, its peers on average trade at around 25 times their earnings.

IHH made a successful dual listing on Bursa Malaysia and Singapore Exchange in July. At an initial public offering (IPO) price of RM2.80 in Malaysia and S$1.11 (RM2.77) in Singapore, IHH's flotation raised more than RM5bil in total gross proceeds.

IHH's flotation was the third largest IPO in the world so far this year, after Facebook Inc and Felda Global Ventures Holdings Bhd (FGVH).

Only IHH and FGVH are trading above their IPO prices, while Facebook has tanked significantly despite all the hype about its IPO. IHH in Malaysia and Singapore is trading above 13% to 14% of its IPO prices, while FGVH is trading at 10% higher than its IPO price.

Facebook, on the other hand, is currently trading at 50% below its IPO price.

IHH has 22 cornerstone investors, comprising local and international institutional funds as well as international sovereign wealth funds. They include Malaysia's Employees Provident Fund (EPF), Permodalan Nasional Bhd and Lembaga Tabung Haji; and international investors like BlackRock Inc, Capital Investment Inc, Kuwait Investment Authority, and the Government of Singapore Investment Corp Pte Ltd.

At present, IHH is majority-owned by Malaysia's state investment arm, Khazanah Nasional Bhd, which has a 45.7% stake in the company. Japan's Mitsui & Co Ltd is the second-largest shareholder in IHH, with a 20.48% stake.

According to some market observers, IHH is seen as an entity that has very strong backing because of the list of prominent institutional fund managers that it has as investors. This factor, they argue, can help attract and sustain interest in the counter.

“Some of IHH's investors, especially those linked to the Malaysian government, are unlikely to sell down their shares significantly due in part to strategic reasons,” an analyst tells StarBizWeek.

“Such stability' will likely encourage cornerstone investors to stay invested in IHH even at the end of their lock-in' period,” he adds.

IHH, which has a market capitalisation of RM25.4bil, is one of the 30 largest listed companies on the Main Market, and qualifies as a constituent of the FTSE Bursa Malaysia KLCI since last month.

A fund manager says that the inclusion of IHH as a component stock of the local bourse index will also help inspire institutional investors to stay invested in the company.

“Holding onto a component stock helps these investors to benchmark their performances against the equity market index,” he explains.

In general, IHH has many good things going for it.

“For a start, the company is in a good industry; hence, its growth prospects are good,” an analyst explains.

BIMB Securities Research analyst Thong Pak Leng, in his report, says: “We believe the aggressive plan to increase its hospital beds by more than 60% over the next three to five years should sustain the group's earnings growth.”

IHH boasts of a large network of operations spanning across eight countries. It has more than 4,800 beds in 30 hospitals. And the group has reiterated its intention to add over 3,300 hospital beds in the next few years.

In a recent report, DBS Vickers Securities argues that industry trends in general are working in the favour of IHH. These trends include an ageing population; developing healthcare markets in Asia; rising affluence in the region, which is expected to drive demand for quality healthcare; and increasing medical tourism in the region.

Most analysts, however, argue that all the positives of IHH have already been “priced in” and reflected in its current share prices. That explains why most analysts have not significantly raised their target prices for IHH.

“I don't see much catalyst for IHH's share price to rise significantly, at least, not in the medium-term,” an analyst says.

Needless to say, despite having so many good things going for it, there are still risks that IHH has to contend with. These include intensifying competition within the industry, the failure of the company to bring to fruition its expansion plans, economic weakness that could affect demand for its services and higher operating costs that could eat into its margins.

Another disadvantage is that IHH does not have a clear dividend policy.

For IHH, no analyst is recommending investors to sell. In Bloomberg's poll, 10 analysts have a “buy” call on IHH, while four have a “hold” call on the counter.

“IHH is a long-term investment,” an analyst explains.

“It's not for one who expect immediate and significant capital gains in the short term,” he adds.


IHH bears RM1.47b forex risk

KUALA LUMPUR, Sept 1 – Newly-listed IHH Healthcare Bhd will potentially be burdened by its Turkish arm Acibadem Holdings’ debt amounting to US$460.7 million (RM1.47 billion), The Edge Business and Financial Weekly reported today.

IHH, which is the second largest listing in Malaysia this year after Felda Global Ventures Holdings Bhd, has a 60 per cent stake in Acibadem.

State investment arm Khazanah Nasional, which is also IHH’s controlling shareholder, reportedly owns a 15 per cent stake in the Turkish healthcare company.

Acibadem’s loans in the US currency exposes it to the unstable US dollar-Turkish lira exchange rate, which has already caused it to lose RM54.5 million in 2010 and RM350.3 million in 2011.

Both the 2010 and 2011 foreign exchange (forex) losses took place before IHH bought its shares in the Turkish group.

According to the weekly, IHH’s financial statements published Acibadem’s pre-tax earnings of RM96.86 million, but did not show its losses.

Acibadem had reportedly lost RM27 million after the US dollar’s value against the Turkish lira increased by 1.4 per cent, causing a slight net loss despite an improvement in its performance.

Acibadem's loan of US 460.7million (RM1.47billion) consists of a US$257.1 million (RM822.72 million) payment due in 2015, and a US$203.6 million (RM651.52 million) amortised loan that needs to be repaid until 2018, the paper reported.

The weekly reported IHH’s financials as saying it is “exposed to currency fluctuations and is actively monitoring and deliberating avenues to manage this risk.”

IHH also had a strong performance in the second quarter with a net profit of RM403.5 million.

Gangnam Style

This song  is damn famous recently, which is song by South Korean rapper Psy.  This song was first released on 15th of July 2012.  "Gangnam Style" is a Korean language colloquialism that refers to a luxurious lifestyle associated with the Gangnam district, an affluent and trendy area of Seoul.  The music video depicts Psy dancing at various locations in Gangnam.  The song's theme is about "the perfect girlfriend who knows when to be refined and when to get wild.".  In Korean colloquialism, "오빤 강남 스타일 (Oppan Gangnam style)" may be translated as "I love the Gangnam style" or literally translated as "Your big brother is Gangnam Style".

It's just released for one month plus, this song has become worldwide phenomenon.

From TheStar: Gangnam Style - Silly but infectious

From the MV itself, a few dance steps are ridiculous but uniquely fun.  For those not yet watched the MV, enjoy the MV yourself...

The following is from Malaysian, 'Orang Sabah Style'.  Damn funny!