【MFCB 3069 交流专区】 美佳第一

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美佳第一获寮国21亿合约 享25年水力发电经营权

财经新闻 财经  2015-09-16 13:56
（吉隆坡15日讯）美佳第一（MFCB，3069，主板贸服股）子公司获寮国政府颁发5亿美元（约21亿4785万令吉）合约，负责打造、经营和移交260兆瓦的栋沙宏（DonSahong）水力发电项目。

根据文告，间接子公司栋沙宏电力公司，今日与寮国政府达成协议，获得该项目25年的特许经营权。

栋沙宏水力发电项目预期在2020年初正式营运，每年可贡献2000亿千瓦时的电力，产出的电力将卖给寮国国家企业Electricite Du Laos。

美佳第一指出，这个项目的成本约为5亿美元，将通过发行长期债券，与内部融资来筹集资金。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	Signing of Concession Agreement for the Don Sahong Hydropower Project
Further to the announcement made by Mega First Corporation Berhad (“MFCB” or “the Company”) on 15 July 2015, MFCB wishes to announce that Don Sahong Power Company Ltd (“DSPC”), a 80% owned indirect subsidiary of MFCB has on 15 September 2015 entered into a Concession Agreement with the Government of The Lao People’s Democratic Republic (“GOL”) whereby the GOL has granted on a build, operate and transfer basis, the concession rights to DSPC for the development of a 260MW hydropower project commonly referred to as the Don Sahong Hydropower Project to be located in the Hou Sahong Channel of the Mekong River, in Khong District, Champasak Province, Lao PDR (“the Project”). The Project, which is a 260MW run-of-river hydropower project capable of generating about 2,000 GWh of electricity per year, is expected to achieve commercial operation in early 2020. The concession period shall end on the date occurring twenty-five (25) years after the commercial operation date. Electricity generated by the Project shall be sold to Electricité Du Laos (“EDL”) under a Power Purchase Agreement to be executed later. The total Project cost is approximately US$500 million, which is expected to be funded by internally generated funds and long-term debt. The Concession Agreement will have no material effect on the earnings and net assets of MFCB Group for the financial year ending 31 December 2015. The Project is expected to enhance the long term net assets and earnings of the MFCB Group.    None of the Directors and major shareholders of MFCB and/or persons connected with them has any interest, direct or indirect, in the Concession. This announcement is dated 15 September 2015.

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美佳第一寮国发电项目每年贡献5亿营收

财经  2015年09月17日
（吉隆坡17日讯）美佳第一（MFCB，3069，主板贸服股）寮国水力发电厂一旦投入运作，將为公司贡献每年5亿令吉营业额。

隨著美佳第一与寮国政府，签署25年的特许经营权协议，这项建造、营运和移交260兆瓦水力发电厂的项目，將可在今年底启动。这是一项由美佳第一及寮国政府联营的计划，各佔有关项目的80%及20%股权。

上述项目总成本为5亿美元（约21亿令吉），该公司计划通过內部资金和长期债务进行融资。

此外，该公司也將通过售出2050万股的库存股，及价值4000万令吉的有价证券，套利以获得部份的资金。

美佳第一目前的现金水平达1亿6400万令吉，负债率处在0.18倍低水平。然而，鉴於目前令吉疲弱，其融资成本將隨之提高。

该水力发电厂的电力產能预计为每年约2000瓦小时(Gwh)，所生產的电力將销售给寮国电力公司。

管理层预期，这项水力发电项目將在2020年初开始全面试运。分析员指出，公司至今已花费5700万令吉，研究项目的可行性，及在厂房地段上进行基本建设，如道路和桥樑。

上述消息出炉后，该股今日一度涨19仙，闭市报2.24令吉，升18仙或8.74%，成交量达16万4500股，位居上升榜中第21名。

大眾投行分析员认为，一旦上述项目投入运作，將带来每年约1亿2000万美元（约5亿1600万令吉）的营业额贡献，或较目前营业额高出约一倍。

该分析员指出，这將有助于缓解市场对该公司在沙巴和中国发电厂，电力买卖协议是否可获得更新的担忧，这2个发电厂的电力协议，將分別在2017年和2022年到期。

有鑑於此，该分析员重申该股「超越大市」投资评级，目標价为3.14令吉。【东方网财经】


美佳第一 寮国电厂年底动工
财经 股市 行家论股  2015-09-18 10:56
http://www.nanyang.com/node/723854?tid=462

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为期25年 美佳第一获寮国购电合约

财经新闻 财经  2015-10-03 12:44
（吉隆坡2日讯）美佳第一（MFCB，3069，主板贸服股）间接子公司栋沙宏电力公司的栋沙宏水力发电项目，获得寮国能源公司的购电合约（PPA），为期25年。

该公司向马交所报备，持股80%的间接子公司栋沙宏电力公司，昨日和寮国能源公司Electricite Du Laos，签署购电协议，属于照付不议（take-or-pay）的协议。

该项购电协议将在发电项目正式投运后生效，为期25年。

栋沙宏电力公司需从发电项目的电闸（switchyard），兴建230千瓦特（kV）的传输线路，以衔接寮国能源公司现有的电网。

美佳第一今年3月和寮国能源公司签署股东协议，分别持有80%和20%股权联营公司，执行水力发电计划。

上月15日，该公司获寮国政府颁发5亿美元（约22亿2000万令吉）合约，负责打造、经营和移交260兆瓦的栋沙宏水力发电项目。

栋沙宏水力发电项目预期在2020年初正式营运，每年可贡献2000亿千瓦特的电力，所发电力由寮国能源公司回购。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	Signing of Power Purchase Agreement for the Don Sahong Hydropower Project
Further to the announcement made by Mega First Corporation Berhad (“MFCB”) on 15 September 2015, MFCB wishes to announce that Don Sahong Power Company Ltd (“DSPC”), a 80% owned indirect subsidiary of MFCB has on 1 October 2015 entered into a Power Purchase Agreement (“PPA”) with Electricité Du Laos (“EDL”) for the sale by DSPC and the purchase by EDL of all electricity generated by the Don Sahong Hydropower Project (“the Project”) on a take-or-pay basis. The PPA shall be for a period of 25 years from the commercial operation date of the Project.  DSPC shall construct a 230kV transmission line from the Project’s switchyard to interconnect with the existing EDL Grid System. None of the Directors and major shareholders of MFCB and/or persons connected with them has any interest, direct or indirect, in the PPA. This announcement is dated 1 October 2015.

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美佳第一与中国水电建设 签13亿水电站工程协议

财经新闻 财经  2015-10-17 08:46
（吉隆坡16日讯）美佳第一（MFCB，3069，主板贸服股）持股80%子公司栋沙宏（Don Sahong）电力，与中国水电建设（Sinohydro）签署工程、采购、建筑和测试（EPCC）项目协议，总值3亿2000万美元（约13亿3600万令吉）。

该工程项目是在寮国栋沙宏，新建发展栋沙宏水电站工程，为期50个月。

中国水电建设公司是该国具声望的基建工程公司，已在70多国家完成超过400项工程，完成项目总额达400亿美元（约1669亿7800万令吉）。

栋沙宏电力公司的栋沙宏水力发电项目，日前获得寮国能源公司的购电协议（PPA），为期25年。

上月15日，该公司获寮国政府5亿美元（约22亿2000万令吉）合约，负责打造、经营和移交260兆瓦的栋沙宏水力发电项目。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	Award of Engineering, Procurement, Construction and Commissioning Contract for the Don Sahong Hydropower Project
Further to the announcement made by Mega First Corporation Berhad (“MFCB” or “the Company”) on 1 October 2015, MFCB wishes to announce that Don Sahong Power Company Ltd, a 80% owned indirect subsidiary of MFCB has on 15 October 2015 entered into an Engineering, Procurement, Construction and Commissioning Contract (“EPC Contract”) with Sinohydro Corporation Ltd for the development, construction and commissioning of the Don Sahong Hydropower Project (“the Project”) over a period of 50 months for the contract sum of approximately USD320 million. Sinohydro Corporation Ltd is a reputable infrastructure construction company established in the People’s Republic of China with expertise in a wide range of infrastructure projects including water and hydropower facilities, airports, roads and ports. Currently, it has over 400 international projects under construction in more than 70 countries worldwide with a total contract value of over US$40 billion. It has successfully constructed many hydropower projects in China, Malaysia, Laos and other parts of the world such as the Three Gorges Hydropower Project in China and the Bakun Hydropower Project in Sarawak, Malaysia to name a few. None of the Directors and major shareholders of MFCB and/or persons connected with them has any interest, direct or indirect, in the EPC Contract. This announcement is dated 16 October 2015.

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美佳第一 须筹资建寮电厂

财经 股市 行家论股  2015-10-20 10:50

目标价：3.14令吉

最新进展
美佳第一（MFCB，3069，主板贸服股）持股80%子公司栋沙宏（Don Sahong）电力，颁发工程、采购、建筑和测试（EPCC）项目合约给中国水电建设（Sinohydro）。

该工程项目是在寮国栋沙宏建造栋沙宏水力发电厂，为期50个月，合约总值3亿2000万美元（约13亿3600万令吉）。

行家建议
由于上述工程需要巨额资金，因此，我们估计美佳第一很快将会有筹资活动。

一旦位于寮国的栋沙宏水力发电厂开始商业化运作，估计每年将会创造1.2亿美元（约5.16亿令吉）的营业额，几乎令公司现有的营业额翻倍。

因此，这有潜能把我们的分类加总估值，每股提高至少1令吉。

另外，栋沙宏水力发电厂工程，也消除市场对于该公司的其他忧虑，即沙巴及中国的发电厂购电协议无法获得更新。这两项购电协议，即将在2017及2022年到期。

分析：大众银行投行研究



【南洋网财经】

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2015	30 Sep 2014	30 Sep 2015	30 Sep 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	145,766	164,331	429,490	512,186
2	Profit/(loss) before tax	45,142	42,797	112,939	115,291
3	Profit/(loss) for the period	34,602	32,151	85,584	83,922
4	Profit/(loss) attributable to ordinary equity holders of the parent	26,536	22,485	62,803	55,629
5	Basic earnings/(loss) per share (Subunit)	11.92	10.10	28.20	24.98
6	Proposed/Declared dividend per share (Subunit)	3.00	3.00	3.00	3.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.6500		3.3200

icy97

附加股送凭单 美佳第一发冀筹2.5亿

财经新闻 财经  2015-11-28 10:05
（吉隆坡27日讯）美佳第一（MFCB，3069，主板贸服股）建议发行附加股送凭单，筹集高达2亿5000万令吉，部分资金用于融资在寮国的栋沙宏（Don Sahong）水力发电厂建筑工程。

美佳第一文告指，将会迟一些才拟定和公布每股发售价、认购比例、日期和发股数量。

在预计所筹得的资金中，高达60%或1亿5000万令吉，将用于发展栋沙宏水力发电厂，并有意使用6500万令吉偿还短期债务，以改善负债水平和加强财政状况。

截至11月20日，该水力发电厂总成本预计达5亿美元（近21亿令吉），预计将通过发新股、债务和内部融资进行。

美佳第一的子公司栋沙宏电力将发展和执行该项计划，建筑工作已开始，预计在4至4.5年内竣工。

同时，预计在2020年初展开商业运作。

为了达到风险管理，且该计划是以美元融资，所以可让股东选择要完全以令吉或美元认购附加股。

建议豁免强制全购

此外，美佳第一建议豁免执行主席吴南华和相关人士，对集团进行强制全面献购。

这是因为在执行雇员认股计划后，他们的持股率将提高至超过33%，目前持有32.86%股权。

大众投行表示，虽然集团从附加股计划筹集的资金，多过5亿5000万令吉的市值，但相信这不会对每股盈利造成稀释效应，因为公司将会在未来4年开始取得庞大的建筑盈利。

“假设价值3亿2000万令吉的工程、采购、建筑和测试（EPCC）合约的盈利赚幅为10%，在2016年至2019年之间，每年会取得额外的3500至3800万令吉的净利。相对2015财年净利，将增加63%。”

因此，投行维持“超越大市”的投资评级，而目标价格为3.14令吉。【南洋网财经】

Type	Announcement
Subject	MULTIPLE PROPOSALS
Description	MEGA FIRST CORPORATION BERHAD ("MFCB" OR "COMPANY")(I) PROPOSED RIGHTS ISSUE WITH WARRANTS; AND(II) PROPOSED EXEMPTIONS
On behalf of the Board of Directors of MFCB, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad wish to announce that the Company proposes to undertake the following: (i) proposed renounceable rights issue of new ordinary shares of RM1.00 each in MFCB (“MFCB Shares”) together with free detachable warrants (“Warrants”) to raise gross proceeds of up to RM250.0 million (“Proposed Rights Issue with Warrants”); and (ii) proposed exemptions to Goh Nan Kioh (“GNK”) and persons acting in concert with him (“PACs”) from the obligation to undertake a mandatory take-over offer for all MFCB Shares and Warrants not held by GNK and his PACs under Paragraphs 16.1(b) and 16.1(c), Practice Note 9 of the Malaysian Code on Take-Overs and Mergers, 2010 (“Proposed Exemptions”), Further details on the Proposals are set out in the attachment enclosed. This Announcement is dated 26 November 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4933773

Attachments Mega First Corporation Berhad - Initial Announcement.pdf

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Type	Announcement
Subject	OTHERS
Description	Disposal of subsidiary company, Bloxwich Lighting Sdn. Bhd.
Mega First Corporation Berhad (“MFCB” or “the Company”) wishes to announce that on 28 December 2015, Bloxwich International Sdn Bhd which is a wholly-owned subsidiary of MFCB, has disposed of 10,000 fully paid ordinary shares of RM1.00 each representing 100% of the issued and paid-up share capital of Bloxwich Lighting Sdn Bhd (“Bloxwich Lighting”) for a total cash consideration of RM1,500.00. Bloxwich Lighting’s principal activity is consultation for and trading of light-emitting diode for lighting purposes.   The disposal is in line with the Group’s internal rationalisation initiative and will have no material effect on the earnings and net assets of the MFCB Group for the financial year ending 31 December 2015.  The disposal is not subject to the approval of the shareholders of MFCB or regulatory authorities. None of the Directors and substantial shareholders of MFCB, or persons connected with them, have any interest, direct or indirect, in the disposal. This announcement is dated 28 December 2015.

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Type	Announcement
Subject	MEMORANDUM OF UNDERSTANDING
Description	Compugates Holdings Berhad ("CHB" or "the Company")Memorandum of Understanding for a logging and marketing contract between Marrienberg Hills Resources Development Limited and Compugates Perak Sdn Bhd
1.Introduction The Board of Directors of CHB wishes to announce that Compugates Perak Sdn Bhd (“CPSB”), the wholly-owned subsidiary of CHB, had on 25 January 2016, entered into a Memorandum of Understanding (“MOU”) with Marrienberg Hills Resources Development Limited  (“MHRD”) to engage CPSB as a logger over the whole land described as Portion 146C, Milinch Marrienberg, Fourmil Angoram, East Sepik Province, Papua New Guinea (“the said land”). The entire Portion 146C covers 26,000 hectares (approximately 64,247 acres). 2.Information on MHRD and back ground of Project MHRD, a Papua New Guinea company having its address at P.O.Box 566, Wewak, East Sepik Province, Papua New Guinea . MHRD is incorporated in Papua New Guinea is the landowner company entitled to the customary ownership and interests held by its shareholders over the whole of the land described as Portion 146C, Milinch Marrienberg, Fourmil Angoram, East Sepik Province, Papua New Guinea (“the said land”) and the said land comprises of 26,000 hectares of forested land. MHRD invites CPSB at its earliest convenience to enter the said land to carry out such evaluation and assessments as it considers necessary to assist in its final decision whether to enter into a binding commercial enterprise with MHRD or not (“the Project”). 3.Salient Terms of  MOU MHRD maintain its invitation to CPSB exclusively for a period of six (6) months and will not invite any other person or entity for that purpose. The logging and marketing contract be for a term of five (5) years renewable. 4.Financial Effects The financial effects of the MOU can only be determined upon the finalisation and execution of a binding commercial enterprise with MHRD. A detailed announcement will be made thereafter. 5.Directors’ and Substantial Shareholders’ Interest None of the Directors or substantial shareholders of CHB or person(s) connected with them have any interest, whether direct or indirect, in the MOU. 6.Statement of the Directors The Board of Directors of the Company is of the opinion that the MOU is in the best interest of the Company. 7. Approval Required The MOU does not require approval of the Company’s shareholders and/or any regulatory authorities. 8. Documents for inspection The MOU will be made available for inspection at the registered office of the Company at No. 2-1, Jalan Sri Hartamas 8, Sri Hartamas, 50480 Kuala Lumpur during normal working hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement. This announcement is dated 26 January 2016.

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寮国水力发电项目启动 美加第一收益增长有望

经济新闻
27/02/201618:57
（吉隆坡27日讯）经过了接近10年的研究，美加第一机构有限公司（MFCB，3069，贸易服务组）在寮国投资的水力发电项目终于动工在即。该栋沙宏（Don Sahong）260兆瓦（MW）水力发电厂预料将耗资约5亿美元，并将在2019年末或更早建竣。

近年来令吉兑美元降值了近30%，或造成该项目成本升高，但是美加第一执行主席吴南华对于完成该项目表示信心十足。同时，他也相信该计划是关键的收益增长推动力，将带来每年至少1亿美元的利润。

吴氏表示：“我们没有比此项目更好的计划。因为无需建水坝，所以非常环保。这是个川流式发电设施。在技术上，易于建造，而且经济实惠。”

在栋沙宏项目里，美加第一持有80%股权，并将享有少于5年的短期回报，比起传统水力发电项目的平均10年更短。

根据美加第一的董事杨时润称，该水力发电厂是为期25年的特许经营项目，并有着17%的内部收益率。不过，根据杠杆的内部收益率计算，它或许会更高。

杨氏指出，该集团将100%承担整个项目的费用，并声明：“为了优化我们的回报，我们决定只建造260兆瓦的发电厂，电力生产率约90%，所以每小時电力产能约2兆瓦（GW）。以每千瓦时6.15美仙计算，每年所获的收入大约是1亿2000万美元。”


营运成本估计将介于该收入的2%至3%，而特许权使用费则是5%。所以在扣除利息与税收前，该项目将带来约1亿1000万美元的利润。杨氏乐观看待该项目的经费预算，认为美加第一有能力以少过5亿美元完成该项目，并指出为了应对经费超支的可能性，该数额其实已包括了适度的应急准备金。

另外，身为美加第一最大股东（32.86%）的吴南华也表示，“由于我们并不需要建造水坝，此项目其实是蛮简单的。与中国的三峡大坝不同，我们无需占用庞大的区域。受到此项目影响的家庭仅有11户，而我们已让他们迁移至适当的地方。”

吴氏也驳斥了环境破坏的问题，并指出栋沙宏位于湄公河的部分只有近10公里宽，并有17条河道。

该发电厂的工程已开始进行，美加第一在去年10月以3亿200万美元委任工程、采购、施工和测试承包商即中国水电建设机构有限公司兴建上述项目。暂时性的防水堰已在上游处完成，以便可在该4公里的河段干涸后，开始进行加宽与加深工程以及发电厂的实质建筑工程。

除了委任承包商的费用外，截至目前为止美加第一已在桥梁与道路上耗资了约1亿令吉（3000万美元）的基础建设成本，而在顾问费用方面，则耗资了7000万令吉。

另一项主要支出，将用于建造连接栋沙宏与供电网络的全长100公里电力传输线，而该工程将会耗资1000万美元。

以美元融资并非问题

美加第一将提出以每5股配售3附加股建议，以筹集2亿5000万令吉作为该水力发电项目的资金。相反，该集团现时市值已触及5亿140万令吉。执行主席吴南华已承诺将全额购入该批配股，以及额外承担高达总附加股发行量的50%。

为了避免强制性全面收购，吴氏与所有相关团体将提出豁免该建议，因为该交易明显将让他们的股权超出33%。

另外，该发行附加股也将以每5附加股送2张凭单。该附加股也可以使用美元购入，因为所筹募的大部分资金将用在栋沙宏的水力发电项目。

美加第一也打算通过贷款筹集1亿5000万美元。

董事杨时润解释：“关于外汇风险，我们不会有太大的问题，因为该项目的成本与将获得的收益皆是美元。虽然，令吉的下跌让规模变得更大，不过这并不会盖过该项目的优点。”

好消息是，该集团在承包商费用上，成功以人民币对冲30%，因为大部分现金都是由位于浙江省一座专门生产工业用蒸汽的热电厂所赚获。

杨氏也说道：“由于中国水电建设是一家中国企业，所以部分成本是以人民币支付。因此该公司答应了收取合共5亿人民币的费用（约8058万美元），而当时人民币兑美元的汇率是6.205”。截至2015年9月30日为止，美加第一共有2亿8694万令吉的现金是以人民币计价，而根据杨时润称，其中1亿6000万人民币已在第4季度支付给中国水电建设。

除了电力生产外，该集团的生石灰业务也是另一个业绩增长催化剂。该行业在上一季贡献了640万令吉或占13.7%的整体税前盈利。

杨氏指出，生石灰使用率非常广阔，涵盖范围由工业到建筑业甚至是污水处理，所产生的毛利率介于30%到40%。

“这几年来，我们看到跨国矿产企业如Lhoist以及矽比科集团购入本地的生石灰公司。不过，我们仍然是国内最大的生石灰生产商，因为我们的产能由每日460吨提升至1160吨以上。”

最后，杨氏指出，虽然这些跨国竞争者也正在提升它们的产能，不过他并不担忧，因为生石灰的价格基本上是稳定，而该期货不受投机买卖影响。【光华日报财经】

icy97

Type	Announcement
Subject	MULTIPLE PROPOSALS
Description	MEGA FIRST CORPORATION BERHAD (MFCB)I. RIGHTS ISSUE WITH WARRANTS; ANDII. EXEMPTIONS(COLLECTIVELY, THE CORPORATE EXERCISES)
We refer to the announcements dated 26 November 2015, 10 December 2015, 18 December 2015, 19 January 2016, 4 February 2016 and 5 February 2016 in relation to the Corporate Exercises (“Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcements.   On behalf of the Board of MFCB, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad wish to announce that: (i)    the Issue Price has been fixed at RM1.59 or USD0.38 per Rights Share at an entitlement basis of seven (7) Rights Shares for every ten (10) MFCB Shares held by the Entitled Shareholders on the Entitlement Date; (ii)    the entitlement basis for the Warrants has been fixed at three (3) Warrants for every seven (7) Rights Shares subscribed for; and (iii)   the exercise price of the Warrants has been fixed at RM2.22 for each Warrant. The Issue Price of RM1.59 per Rights Share, representing a discount of 20.9% to the TERP of the MFCB Shares as set out in item (v) below, was fixed by the Board after taking into consideration, among others, the following: (i)    the total gross proceeds for the Rights Issue with Warrants of up to RM250.0 million; (ii)   the prevailing market condition; (iii)   the prevailing market price of the MFCB Shares; (iv)   the issued and paid-up share capital of MFCB as at 17 February 2016, being the Price-Fixing Date; and (v)    the TERP of the MFCB Shares of RM2.01, based on the 5-day VWAMP of the MFCB Shares of RM2.31 per MFCB Share up to and including 16 February 2016, being the last trading day before the Price-Fixing Date. The Issue Price of USD0.38 per Rights Share was based on the exchange rate of USD1.00 to RM4.1525, being the middle rate quoted by BNM as at 5.00 p.m. on 16 February 2016, being the last market day before the Price-Fixing Date. The exercise price of RM2.22 for each Warrant, representing a premium of 10.4% to the TERP of the MFCB Shares of RM2.01, based on the 5-day VWAMP of the MFCB Shares of RM2.31 per MFCB Share up to and including 16 February 2016, being the last trading day before the Price-Fixing Date, was fixed by the Board after taking into consideration, among others, the funding requirements of MFCB and the expected timing of such requirements over the next four (4) years. For the avoidance of doubt, the exercise price of the Warrants is in RM only. Based on the above, as at the Price-Fixing Date, the Rights Issue with Warrants will involve the issuance of 156,133,460 Rights Shares to raise gross proceeds of approximately RM248.3 million, and the issuance of 66,914,340 Warrants to raise gross proceeds of approximately RM148.5 million, assuming full exercise of the Warrants. However, the final number of Rights Shares and Warrants to be issued and the gross proceeds to be raised from the Rights Issue with Warrants will be dependent on the issued and paid-up share capital of MFCB on the Entitlement Date to be fixed later.       This announcement is dated 17 February 2016.

APULA

美佳第一 新合约抵消净利稀释
财经 股市 行家论股  2016-02-19 15:02
http://www.nanyang.com/node/748820?tid=462

目标价：3.14令吉

最新进展
美佳第一（MFCB，3069，主板贸服股）早前建议发行附加股送凭单，筹集高达2亿5000万令吉，部分资金用于融资在寮国的栋沙宏（Don Sahong）水力发电厂建筑工程。

10配7的附加股活动，意味着将会发售1.56亿新股，发售价为1.59令吉，比5日成交量加权平均市价（VWAMP）2.01令吉，折价约20.9%。

至于免费凭单，根据7送3的比例，将发售6690万张，行使价为2.22令吉，为期4年。

行家建议
若不包括凭单，附加股活动将把美佳第一的股本提高70%至3.79亿股。然而，我们认为对净利稀释的程度不大，因为公司将从栋沙宏发电厂获得建筑合约。

该工程每年将贡献3500万至3800万令吉盈利，可支撑公司2016至2019年的盈利表现，也足以抵消稀释效用。

目前，美佳第一2016财年本益比只有10倍，属于不昂贵水平，我们维持“超越大市”评级，附加股除权后理论价格为2.01令吉，除权后目标价则为2.51令吉。



分析：大众投行研究

icy97

EX-date	09 Mar 2016
Entitlement date	11 Mar 2016
Entitlement time	05:00 PM
Entitlement subject	Rights Issue
Entitlement description	Renounceable rights issue of 157,048,290 new ordinary shares of RM1.00 each in Mega First Corporation Berhad ("MFCB") ("MFCB Shares") ("Rights Shares") at an issue price of RM1.59 per Rights Share, which can be subscribed for at USD0.38 pursuant to the Subscription Option (as defined herein), together with 67,306,410 free detachable warrants ("Warrants") on the basis of seven (7) Rights Shares for every ten (10) MFCB Shares held by the entitled shareholders as at 5.00 p.m. on 11 March 2016 ("Entitlement Date") ("Entitled Shareholders") and three (3) Warrants for every seven (7) Rights Shares subscribed for ("Rights Issue with Warrants")
Period of interest payment	to
Financial Year End
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Symphony Share Registrars Sdn BhdLevel 6, Symphony HouseBlock D13Pusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Darul Ehsan MalaysiaTel. No.: +603 7849 0777Fax No.: +603 7841 8151/52
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	11 Mar 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)	157,048,290
Entitlement indicator	Ratio
Ratio	7 : 10
Rights Issue/Offer Price	Malaysian Ringgit (MYR) 1.590
Par Value	Malaysian Ringgit (MYR) 1.000

Despatch date	15 Mar 2016
Date for commencement of trading of rights	14 Mar 2016
Date for cessation of trading of rights	23 Mar 2016
Date for announcement of final subscription result and basis of allotment of excess Rights Securities	08 Apr 2016
Listing Date of the Rights Securities	15 Apr 2016

Last date and time for	Date	Time
Sale of provisional allotment of rights	22 Mar 2016	at	05:00:00 PM
Transfer of provisional allotment of rights	25 Mar 2016	at	04:00:00 PM
Acceptance and payment	30 Mar 2016	at	05:00:00 PM
Excess share application and payment	30 Mar 2016	at	05:00:05 PM

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2015	31 Dec 2014	31 Dec 2015	31 Dec 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	159,196	160,279	588,686	672,465
2	Profit/(loss) before tax	34,585	37,729	147,524	153,020
3	Profit/(loss) for the period	22,070	23,374	107,654	107,296
4	Profit/(loss) attributable to ordinary equity holders of the parent	11,461	14,270	74,264	69,899
5	Basic earnings/(loss) per share (Subunit)	5.15	6.41	33.34	31.39
6	Proposed/Declared dividend per share (Subunit)	5.00	5.00	8.00	8.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.6500		3.3200

ahlauweihotmail

为什么忽然间跌破两块钱？
问题来了吗？

我是谁呢

要买附加股一定要用BANKER CHEQUE吗? 私人的CHEQUE可以吗?
BANKER CHEQUE CHARGES 多少钱？
ＨＯＮＧ　ＬＥＯＮＧ / CIMB的

icy97

Type	Announcement
Subject	MULTIPLE PROPOSALS
Description	MEGA FIRST CORPORATION BERHAD ("MFCB") (I)        RIGHTS ISSUE WITH WARRANTS; AND (II)        EXEMPTIONS (COLLECTIVELY, THE "CORPORATE EXERCISES")
We refer to the announcements dated 26 November 2015, 10 December 2015, 18 December 2015, 19 January 2016, 4 February 2016, 5 February 2016, 17 February 2016, 19 February 2016, 25 February 2016 and 11 March 2016 (“Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcements.   On behalf of the Board of MFCB, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad is pleased to announce that as at the closing date and time of acceptance, excess share application and payment for the Rights Issue with Warrants on 30 March 2016 at 5.00 p.m. (“Closing Date”), MFCB had received valid acceptances and excess applications for a total of 185,300,251 Rights Shares. This represents an over-subscription of 28,251,961 Rights Shares or 17.99% over the total number of Rights Shares available for subscription under the Rights Issue with Warrants. Details of the valid acceptances and excess applications received as at the Closing Date are as follows: No. of Rights Shares % of total Rights Shares available for subscription Total valid acceptances in RM 98,131,280 62.48 Total valid acceptances in USD 51,757,280 32.96 Total valid acceptances 149,888,560 95.44 Total valid excess applications in RM 19,356,669 12.33 Total valid excess applications in USD 16,055,022 10.22 Total valid excess applications 35,411,691 22.55 Total valid acceptances and excess applications 185,300,251 117.99 Total Rights Shares available for subscription 157,048,290 100.00 Over-subscription 28,251,961 17.99 Successful applicants of the Rights Shares will be given Warrants on the basis of three (3) Warrants for every seven (7) Rights Shares successfully subscribed for. The Rights Shares with Warrants which are not taken up or not validly taken up (“Excess Rights Shares with Warrants”) will be allotted to the Entitled Shareholders and/or their renouncees/transferees who have applied for the Excess Rights Shares with Warrants in the following order of priority, as set out in Section 10.5 of the Abridged Prospectus dated 11 March 2016 in relation to the Rights Issue with Warrants: (i)     firstly, to minimise the incidence of odd lots; (ii)     secondly, to the Entitled Shareholders who have applied for the Excess Rights Shares with Warrants on a pro-rata basis and in board lots, calculated based on their respective shareholdings as per their CDS accounts on the Entitlement Date; (iii)     thirdly, to the Entitled Shareholders who have applied for the Excess Rights Shares with Warrants on a pro-rata basis and in board lots, calculated based on the quantum of Excess Rights Shares with Warrants applied for; (iv)     lastly, to the renouncees/transferees who have applied for the Excess Rights Shares with Warrants on a pro-rata basis and in board lots, calculated based on the quantum of Excess Rights Shares with Warrants applied for; and (v)      in the event that there are still unsubscribed Rights Shares and Warrants after allocating all the Excess Rights Shares with Warrants applied for, the remaining unsubscribed Rights Shares with Warrants will be subscribed by the Joint Underwriters in accordance with the terms and conditions set out in the underwriting agreement dated 19 February 2016 entered into between MFCB and the Joint Underwriters in relation to the Rights Issue with Warrants, in order to meet the full subscription level. The Rights Shares and Warrants are expected to be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 15 April 2016. This announcement is dated 8 April 2016.

jason8reading8

icy97 发表于 26-2-2016 04:29 AM

10配7附加股，发售价1.59
（1,000unit / 7 =700附加股）x 1.59 = RM1,113（这是我要付的钱）

再7配3 free warrant
700 / 3 =233 free warrant

RM1,113 / 233 = 4.77

意识说warrant 价要4.77 以上才赚钱

icy97

MEGA FIRST CORPORATION BERHAD

Kindly be advised MFCB’s additional 157,048,290 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Rights Issue with Warrants will be granted listing and quotation with effect from 9.00 a.m., Friday, 15 April 2016.

We are also pleased to advise that MFCB's 67,306,410 Warrants-A issued pursuant to the Rights Issue with Warrants will be admitted to the Official List of the Exchange and the listing and quotation of the Warrants on the Main Market, will be granted with effect from 9.00 a.m., Friday, 15 April 2016.

The Stock Short Name, Stock Number and ISIN Code of the Warrants are “MFCB-WA”, “3069WA” and "MYL3069WAU47" respectively.

icy97

Instrument Category	Securities of PLC
Instrument Type	Warrants
Description	Free detachable warrants ("Warrants") issued pursuant to the renounceable rights issue of 157,048,290 new ordinary shares of RM1.00 each in Mega First Corporation Berhad ("MFCB") ("MFCB Shares") ("Rights Shares") at an issue price of RM1.59 per Rights Share, which can be subscribed for at USD0.38 pursuant to the subscription option, together with 67,306,410 Warrants on the basis of seven (7) Rights Shares for every ten (10) MFCB Shares held by the entitled shareholders as at 5.00 p.m. on 11 March 2016 and three (3) Warrants for every seven (7) Rights Shares subscribed for

Listing Date	15 Apr 2016
Issue Date	08 Apr 2016
Issue/ Ask Price	Not Applicable
Issue Size Indicator	Unit
Issue Size in Unit	67,306,410
Maturity	Mandatory
Maturity Date	08 Apr 2020
Revised Maturity Date
Name of Guarantor
Name of Trustee
Coupon/Profit/Interest/Payment Rate
Coupon/Profit/Interest/Payment Frequency
Redemption
Exercise/Conversion Period	4.00   Year(s)
Revised Exercise/Conversion Period	Not Applicable
Exercise/Strike/Conversion Price	Malaysian Ringgit (MYR)   2.2200
Revised Exercise/Strike/Conversion Price	Not Applicable
Exercise/Conversion Ratio	1:1
Revised Exercise/Conversion Ratio	Not Applicable
Mode of satisfaction of Exercise/ Conversion price	Cash
Settlement Type/ Convertible into	Physical (Shares)