Friday, April 20, 2007


Sapura Tech

Following the robust run-up in SapuraCrest, some savvy fund managers have been piling into Sapura Tech. ST is not as interesting as SC but it has what we call buffer and indirect play into SC. It has already been announced that ST will be privatised, for every one ST, they will be exchanged for one SC plus 40 sen. Hence savvy funds would be locking in a buffer of around 30 sen or 20% and get exposure to SC during a period where the EEC should be the thematic play. Downside is the 2-3 months lockup but AGM is to be held this coming Monday, which has hasten some to pile in on likely approval for the deal. Nothing terribly new or exciting but fund managers who do their homework would have a leg up on the rest. Buffer man, buffer!

3 comments:

AbRahman said...

< Hai, Dali ... Thank you for you comment on Sapura Crest /Sapura Tech ... May I get some descent comment on the signing of strategic collaboration between Iris Corp. Bhd and IBM n IBM, Malaysia (28th Mac 2007)... Market seem silent about it, what are the possibillity of IBM getting the US gov. e-pasport jobs ?? >

Salvatore_Dali said...

i think the deal is true, but no details, so its hard to figure the impact.... i doubt Iris would be allowed to make supernormal profits, the technology is not that hard to find, can always go to some other company... so don't be over-optimistic. ibm does not get to where they are by giving out huge margins to outsourced partners. its not with ibm international but rather via ibm malaysia.

mj said...

4928 SAPTECH SAPURA TECHNOLOGY BHD
Proposed Selective Capital Repayment Exercise ("Proposed SCR")

Sapura Technology Berhad ("STB" or "the Company")
- Extraordinary General Meeting ("EGM") on the Proposed Selective Capital
Repayment Exercise ("Proposed SCR")
The Board of Directors of STB is pleased to announce that at the EGM duly
convened on 23 April 2007,the special resolution pertaining to the Proposed SCR

which was set out in the Notice of EGM dated 30 March 2007, was duly passed.

This announcement is dated 23 April 2007.