Effective from 1st January 2011, all existing and new members of Bank Persatuan are subjected to new maximum limit of share investment. The new maximum limit was approved during Board meeting on 28th December 2009. All previous year limits are no longer applicable.
Below are the details on the new limits.
Existing members
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) started 2011 at the closing record of 1,533.42 points. Many analysts positive on 2011 outlooks with some targeting FBM KLCI to hit as high as 1710 points.
Below are some of the factors on the positive outlooks.
The table below is the FBM KLCI 2011 year end target from various research houses or brokers. If you have data from other brokers, kindly leave in the comment fields below.
K Seng Seng Corp Bhd (KSSC), a supplier of secondary stainless steel products, is schedule to be listed in Main Market on 18th January 2011. The company, was established in 1985 under the name of Vinylon Industries Sdn Bhd. On 20 June 1986, the companny name was changed to K. Seng Seng Sdn Bhd
KSSC’s IPO consists of a public issue of 20 million ordinary shares at an IPO price of RM0.57 per share with RM0.50 par value.
6 million shares will be allocated for the Malaysian public, 9 million shares for identified bumiputera investors and 5.1 million shares for eligible directors, employees and business associates of the group. On top of that 22.2 million shares will be allocated for placement to identified investors.
In 2010, there is 29 new Initial Public Offering (IPO) compare to 14 in 2009. Out of 29 listings, 23 companies were listed on the Main Board of Bursa Malaysia, while the rest were on the ACE Market.
How do they performed?
Based on data compiled from Bursa Malaysia, 17 out of 29 stocks closed higher than their offer price on the listing date. However, on 30th December 2010, the last trading day, only 12 closed higher than offer price. Seem like IPO stocks performance in 2010 is not very encouraging.
In January 2011, 3 more IPOs will be listed in Bursa Malaysia. They are K. Seng Seng Corporation, Benalec Holdings and Tambun Indah Land. With 2010 IPO performance data, are you going to subscribe to 2011 IPO?
The table below are the summary of 2010 IPO performance.
Benalec Holdings Bhd, Malaysia’s second largest marine construction firm, is schedule to be listed in Main Market on 17th January 2011. The company, was established in 1978 is also eyeing to expand its marine construction services regionally especially in Indonesia and Vietnam.
Benalec’s IPO consists of a public issue of 100 million ordinary shares at an IPO price of RM1.00 per share with RM0.25 par value.
36.5 million shares will be allocated for the Malaysian public, 57 million shares for private placement and 6.5 million shares for eligible directors, employees and business associates of the group. On top of that 130 million shares will be allocated for placement to identified investors.