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Alam Maritim Bhd

PostPosted: Sat Apr 26, 2014 8:20 am
by winston
not vested

Eye on stock by tee lin say

OFFSHORE oil and gas player Alam Maritim Bhd could be looking interesting on the back of an allotment of 123 million new shares representing a 15.35% stake of its enlarged share capital to Tan Sri Quek Leng Chan and his associate Paul Poh via their vehicles Associated Land Sdn Bhd and Caprice Capital International Ltd at RM1.35 per share.

The proceeds will be used to acquire a new offshore supply vessel as well as retire some of its debt.

Here’s the interesting part. Quek has also taken a 7.7% stake or 100 million shares in Singapore’s Ezion Holdings Ltd by investing US$155mil (RM496mil). Ezion is also in the offshore vessel supply business, and owns the much sought after self-propelled jack-up liftboats.

Some believe that with Quek expanding further into the offshore business, Alam Maritim could act as a potential partner to facilitate Ezion’s expansion into Malaysia.

Ezion has a liftboat fleet that is backed by bareboat charters worth more than US1bil (RM3.2bil), which brokers say will contribute to nearly 70% of its earnings growth in 2014.

In the last one year, Quek has shown keen interest in the offshore sector. His entities have made investments in various offshore and marine players like TH Heavy Engineering Bhd and Scomi Energy Bhd.

Meanwhile, the 123 million shares issued to Quek and Poh will raise some RM166.05mil.

On the utilisation of the proceeds, Alam Maritim said some RM67mil would be allocated to acquire a new vessel, RM95.08mil as repayment of bank borrowings and RM3.8mil for expenses related to the proposed share issuance.

Alam Maritim’s gearing will be reduced to 0.67 times after the share placement from 1.07 times as at Dec 31, 2012. ... -on-stock/

Re: Alam Maritim Bhd

PostPosted: Sat Aug 02, 2014 4:27 am
by winston
not vested

Hong Leong Group ups Alam Maritim stake

KUALA LUMPUR: The Hong Leong Group has raised its shareholding in Alam Maritim Resources Bhd with the recent purchase of 2.88 million shares.

A filing with Bursa Malaysia on Friday showed the group, via Hong Leong Assurance Bhd, bought the shares on July 23. Its share price closed at RM1.54 on that day.

The recent purchase saw it increasing its stake in Alam Maritim to 62.88 million shares or 6.8%.

In an earlier announcement, a major shareholder SAR Venture Holdings (M) Sdn Bhd disposed of 3.60 million shares on July 25.

The shares were disposed of in an off-market deal at an average price of RM1.53.

After the recent transaction, SAR Venture's direct stake was reduced to 330.41 million shares or 35.74%.

Source: The Star