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    BOILERM   MYQ0168OO003

BOILERMECH HOLDINGS

(BOILERM)
  Report
End-of-day quote BURSA MALAYSIA  -  2023-02-02
0.8100 MYR   +1.89%
01/09Boilermech Closes TERA VA Acquisition for MYR8 Million
MT
2022Boilermech Buys Out TERA VA for MYR8 Million
MT
2022Boilermech Holdings Berhad entered into a share acquisition agreement to acquire an additional 35% stake in Tera Va Sdn Bhd from Leong Jit Min for MYR 8.2 million.
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QL Green Resources Sdn. Bhd. completed the acquisition of 2% stake in Boilermech Holdings Berhad for approximately MYR 9.8 million.

02/08/2021 EST

QL Green Resources Sdn. Bhd. made an offer to acquire remaining 51.85% stake in Boilermech Holdings Berhad (KLSE:BOILERM) for approximately MYR 250 million on December 3, 2020. Under the terms of the transaction, QL will acquire the remaining shares for MYR 0.95 per share in cash. If Boilermech declares, makes or pays any Distributions whereby the entitlement date for such Distributions is on or after December 3, 2020, but prior to the Closing Date, the Offeror will reduce the Offer Price by the quantum of the Distributions per Offer Share. In a related transaction, QL Green Resources Sdn. Bhd entered into an agreement to acquire an additional 4% stake in in Boilermech Holdings Berhad from Leong Yew Cheong for MYR 19.6 million on December 3, 2020. Prior to the transaction, QL holds 227 million shares in Boilermech representing 44.15% stake. The transaction will be funded from internally generated funds and/or borrowings. The Offeror do not have any plan and/or intention to liquidate any companies and intend to continue with the existing businesses relating to Boilermech. The Offeror do not have any plan to dismiss or make redundant any of the employees of the Boilermech. The Offeror intends to maintain the listing status of Boilermech on the Main Market of Bursa Securities. The offer is conditional upon valid acceptances which would result with QL holding more than 50% stake together with the shares they already held. As of January 25, 2021, the offer become unconditional and the acceptance condition has been fulfilled. QL does not intend to conduct a compulsory acquisition of the remaining shares from the holders who have not accepted the offer. The offer will remain open for acceptance from the posting date for a period of not less than 21 days or such later date as UOB Kay Hian Securities (M) Sdn Bhd. may announce. The offer is expected to be completed in the first quarter of calendar year 2021. The offer will be valid till January 14, 2021. As of January 12, 2021, the offer was extended from January 14, 2021 to January 29, 2021. AS of January 25, 2021, the offer is extended from January 29, 2021 to February 8, 2021. Based on the advise from Mercury Securities Sdn Bhd, all the Non-Interested Directors of Boilermech, Gan Chih Soon, Tee Seng Chun (Alternate Director to Gan Chih Soon), Ng Swee Weng, Ho Cheok Yuen, Adrian Chair Yong Huang and Rina Meileene binti Adam recommends to the shareholders that Offer is not fair and not reasonable. Accordingly, the Non-Interested Directors recommends to reject the offer. The transaction is expected to contribute positively to the earnings and earnings per share of the QL Group for the FY ending on March 31, 2021. UOB Kay Hian Securities (M) Sdn Bhd. acted as financial advisor and registrar to QL Green Resources Sdn. Bhd. Mercury Securities Sdn Bhd acted as financial advisor to Boilermech, subject to the clearance of eligibility of the Independent Adviser by the Securities Commission Malaysia. QL Green Resources Sdn. Bhd. completed the acquisition of 2% stake in Boilermech Holdings Berhad (KLSE:BOILERM) for approximately MYR 9.8 million on February 8, 2021. QL Green Resources acquired 10.3 million shares of Boilermech.


ę S&P Capital IQ 2021
All news about BOILERMECH HOLDINGS
01/09Boilermech Closes TERA VA Acquisition for MYR8 Million
MT
2022Boilermech Buys Out TERA VA for MYR8 Million
MT
2022Boilermech Holdings Berhad entered into a share acquisition agreement to acquire an add..
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2022Boilermech Holdings Berhad Reports Earnings Results for the Second Quarter and Six Mont..
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2022Boilermech Holdings Berhad Reports Earnings Results for the First Quarter Ended June 30..
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2022Boilermech Holdings Berhad Proposes Final Dividend for Financial Year Ended 31 March 20..
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2022Boilermech Holdings Berhad Proposes Final Dividend for the Financial Year Ended 31 Marc..
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2022Boilermech Holdings Berhad Announces Managing Director Changes
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2022Boilermech Holdings Berhad Announces Retirement of Leong Yew Cheong from the Board, Eff..
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2022Boilermech Holdings Berhad Reports Earnings Results for the Fourth Quarter and Full Yea..
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More news
Financials
Sales 2023 335 M 78,7 M 78,7 M
Net income 2023 16,4 M 3,86 M 3,86 M
Net Debt 2023 - - -
P/E ratio 2023 26,7x
Yield 2023 1,98%
Capitalization 418 M 98,1 M 98,1 M
Capi. / Sales 2023 1,25x
Capi. / Sales 2024 1,19x
Nbr of Employees -
Free-Float 23,1%
Chart BOILERMECH HOLDINGS
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Last Close Price 0,81 MYR
Average target price 0,72 MYR
Spread / Average Target -11,5%
EPS Revisions
Managers and Directors
Lik Khai Chia Managing Director & Executive Director
Song Kun Chia Non-Independent Non-Executive Chairman
Cheok Yuen Ho Independent Non-Executive Director
Yong Huang Chair Independent Non-Executive Director
Swee Weng Ng Independent Non-Executive Director
Sector and Competitors