Sharing some Investing and Economic insights:
THREE things you need to know this week;
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- Bank Negara is expected to keep the interest rates unchanged. Bank Negara’s this Thursday monetary policy committee meeting is among the key events this week.
- Two industry giants, Tesla and Amazon Web Services (AWS) will invest in Malaysia.
- Tesla will open showrooms, services centres and establish a network of charging stations. This will create skilled jobs and increase participation of local companies in the electric vehicle ecosystem.
- AWS would be launching a new infrastructure region in Malaysia, confirming that it intends to invest at least RM25.5bil by 2037.
- Lembaga Tabung Angkatan Tentera (LTAT) to take Boustead Holdings Bhd private. LTAT has made a voluntary takeover offer for the remaining 40.58% shares it doesn’t yet own in Boustead. Based on the number of shares – 822.51 million, or 40.58% of Boustead – LTAT is expected to fork out RM703.25 million for the purchase.
- Boustead owns 52% of Pharmaniaga Bhd and 64.99% of Boustead Heavy Industrial Corp Bhd. On top of that, it also owns 57.42% of Boustead Plantation Bhd and 20.93% of Affin Bank Bhd.
Raiz is about helping you save & invest more – being able to save 5% of your salary is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).
Do you know?
What it means to take a company, Private?
It means that a large company purchases all the remaining stocks (on the stock exchange) of a company. The company that goes private is no longer traded on a public stock exchange.
Example:
LTAT currently owns 59.42% of Boustead. The remaining 40.58% shares are traded on the Bursa Malaysia (so the public can buy/sell). LTAT now wants to buy all 40.58% shares of Boustead on Bursa Malaysia so it will own 100%.
Boustead will then be a private company (and no longer a public company).
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