How Telekom Malaysia Stands To Reap A Tidy RM252 million If It Accepts Measat Global Offer?

What a bloody insult to one's intelligence!

From today's Business Times:

• Measat Global said it did not plan to maintain MGB's listed status on the stock exchange.MGB's second largest shareholder, Telekom Malaysia Bhd, which held a 15.4 per cent stake as at April 26 this year, stands to reap a tidy RM252 million if it accepts the offer.... ( Read more: Measat gets RM4.20 a share buyout offer )

What does the 'stands to reap a tidy rm 252 million' means?

Seriously!

How difficult is it to search for Telekom Malaysia's cost of investment in Measat Global?

How many clicks?

Let me count for you...

1. Bursa website to search for companies announcements
2. Click on Archives
3. Click on BY COMPANY
4. Click T for Telekom
5. Click On TELEKOM MALAYSIA
6. Search for Measat.

6 Clicks of the Mouse. How difficult can it be? I dunno but apparently it sure is difficult!

And from this 6 clicks, we have....

TELEKOM MALAYSIA BERHAD ("TM") :- PROPOSED ACQUISITION OF 60,024,010 ORDINARY SHARES OF RM0.78 EACH REPRESENTING APPROXIMATELY 15% OF THE EQUITY INTEREST IN MEASAT GLOBAL BERHAD ("MGB") FOR A TOTAL PURCHASE PRICE OF RM250,000,000.

Yup Telekom Malaysia cost of investment in Measat Global in December 2003 was 250 Million.

• The Proposed Acquisition involves 60,024,010 ordinary shares of RM0.78 each at a price of RM4.165 per share representing approximately 15% of the equity interests in MGB for a total purchase price of RM250,000,000.

Price? rm 4.165 sen.

If Telekom Malaysia decides to cash in this insane offer of 4.20 per share, Telekom Malaysia would get back 252 million.

A profit of 2 million.

And during this period... Measat Global paid ZERO dividends.

So tell me... what exactly does the financial reporter means by Telekom Malaysia 'stands to reap a tidy RM252 million if it accepts the offer'????

Glee!

I would be seriously offended and pissed if I was a Telekom Malaysia minority shareholder!

Seriously!

Postings on Measat Global's privatisation:

1. The Delisting Of Measat Global at RM 4.20
2. The Delisting Of Measat Global at RM 4.20: Part II