PMHLDG (1287) PAN MALAYSIA HOLDINGS BHD - Dr.Yu Kuan Chon Still Holding 11% stakes !!

PMHLDG (1287) PAN MALAYSIA HOLDINGS BHD - Dr.Yu Kuan Chon Still Holding 11% stakes !!

Dr Yu, who has made a name for himself as a savvy investor by taking up strategic stakes in little-known companies, is the chairman and executive director of public-listed family-run YNH Property Bhd. His 31.72% interest in the Perak-based property company gives him a worth of RM243.43mil based on the stock’s market capitalisation of RM767.45mil as at last look. However, the medical doctor-turned-entrepreneur caught the attention of the market in 2013, when he went on to accumulate up to more than 8% of HLCap, putting him in a strong bargaining position in relation to the planned buyout of the stock that is ultimately controlled by tycoon Tan Sri Quek Leng Chan of the Hong Leong group. HLCap shares soared from RM1.42 prior to Quek’s takeover attempt in early 2013 to a record high of RM14.60 on June 17, 2014.

Dr Yu subsequently pared down his stake in the stock ahead of the deadline given by Bursa Malaysia for it to maintain a minimum public shareholding spread and in the process made a tidy sum of over RM70mil, previous media reports indicated. Dr Yu still has a small stake in HLCap.

He is also a substantial shareholder of semiconductor firm Rapid Synergy Bhd with a 28.05% direct and indirect stakes.

In March last year, he emerged in little-known-but-cash-rich Imaspro Corp Bhd with slightly more than 5%. He subsequently raised his stake in the pesticide and fertiliser maker, now owning 17.48% based on Bloomberg data.

When the PM Holdings deal was announced 15 months ago, a spokesperson for Dr Yu told StarBizWeek that the entrepreneur saw significant potential in businesses under the company, including stockbroking. He also reiterated that his investment was for the long term and expects to make a decent return on investment.

The spokesperson said that Dr Yu’s entry was at a low base and felt that potential would come from increasing interest from retail investors. “So, we plan to build up this business by hiring the right people. There is a lot of potential,” the spokesperson had then said.

PM Securities is considered a small player in the stockbroking industry and operates nine branches.

If Dr Yu proceeds with the deal minus PM Securities, the main asset he would be buying would be the Corus Paradise Resort in Port Dickson and surrounding land.

The 10-storey resort hotel sits on 55,745 sq m that carries a net book value of RM23.64mil and was last revalued in 1993.

Although Dr Yu failed to takeover the PMHLDG. He still hold 11% stakes in PMHLDG through himself and associates such as : Ho Swee Ming, Chan Sow Keng, Yu Chong Chen, Chan Weng Fui and Lim Wen Tzer.

Based on the track record of Dr.Yu, he made handsome gain from his investment such as Rapid, Imaspro and HLCAP. When Dr.Yu announce to take over PMHLDG, PMHLDG share price hit 52sen. This is the magic of Dr. Yu.

PMHLDG share price consolidate quite long time at price between 13sen-14sen. Maybe is Dr. Yu keep accumulate the share from market. Securities counter such as TA (4898) and Kenanga (6483) saw their share price rose substantially recently. 

Savvy investor Dr Yu may be looking at institutional partner in his long running bid for PMHLDG. Sources say that Dr Yu is very keen on building the stockbroking business of PM Securities, banking on the fact that in the long run, the local market would have a higher retail participation.

“He’s a genuine buyer and he’s really keen to get into this business at a time when most people are shunning it (stockbroking),” says a banker.

The regulator has a preference for institutions to now become new major shareholders of financial services licence holders. This in turn feeds into market talk that Dr Yu is actively seeking to partner with a foreign financial institution to become a part-shareholder in PM Securities. “There have been some foreign institutions which had begun discussions with Dr Yu,” says a source.

PM Holdings is primarily involved in the hospitality industry through its wholly owned beachfront hotel, Corus Paradise Resort Port Dickson. Its exposure in financial services is through PM Securities, which is a universal broker offering retail share trading, institutional share dealing, corporate finance and advisory services, among others. It also has a fund management unit, PCB Asset Management Sdn Bhd.

Strong Buy PMHLDG (1287) which expect Dr. Yu 2nd times to secure controlling stakes in PMHLDG.

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PMHLDG (1287) PAN MALAYSIA HOLDINGS BHD - Dr.Yu Kuan Chon Still Holding 11% stakes !!
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