Terjemahan Ringkas

IPO saham Time dotCom Bhd adalah yang terbesar sejak krisis 1997 tetapi ia tak terlanggan ketahap 75%, menurut MIH. Ini bermakna hanya 25% sahaja saham dibeli. Selebihnya terpaksa ditanggung oleh underwriter.

Time dotCom adalah unit syarikat Time Engineering. Time Engineering pula adalah sebahagian dari Kumpulan Renong Halim Saad yang berhutang lebih RM20 billion.

Time dotCom berharap untuk mencekup RM1.87 bilion dalam IPO tersebut. Ia cuma mencapai 25% dari sasaran, kira-kira RM 471.4 juta sahaja.

Menurut penganalisis, IPO Time dotCom adalah petunjuk keyakinan pelabur terhadap penyusunan semula Renong. Cakap-cakep mengenai IPO tersebut telah menyebabkan BSKL sedikit tenggelam beberapa hari lepas.

KOMEN

Renong memilikki 47% syarikat Time Engineering, yang empunya Time dotCom. Time Engineering sedang senak hutang RM 3.9 bilion, manakala Renong sendiri masih tenat dengan hutang RM 30 bilion.

Aset utama Time dotCom adalah kabel gentian (fiber) optiknya. Selepas IPO tersebut M/D Time dotCom, Halim Saad akan mengawal 55% dari Time dotCom melalui sahamnya di dalam Time Engineering. Khazanah Harta memilikki 20%.

Kita perhatikan dana kerajaan dan dana awam asyik bertenggek di mana ada kepentingan Renong untuk menampung. Ia disokong walaupun sarat berhutang sehingga BBMB sendiri rentung. Lama-lama semua dana akan menjadi kosong..... patutlah setiap tahun semakin tinggi caruman dipotong.... malangnya rakyat Malaysia mudah terkena kelentong!

Sila Rujuk Rencana KM2: 3711
AWSJ: Time dotCom Leaps Ahead With a Controversial IPO oleh Chris Prystay

-Kapal Berita-

Rencana Rujukkan:

Sumber: AFP

http://news.catcha.com/my/content.phtml? 1&010&&afpnews.cgi&cat=malaysia&
story=010213121549.gzqyw9m8.txt

Malaysia's Time dotCom shares 75 percent undersubscribed

KUALA LUMPUR, Feb 13 (AFP) - The share issue of Time dotCom Bhd. -- the biggest offering in recent years -- has been undersubscribed by 75 percent, the Malaysian Issuing House announced Tuesday.

"Applications for 142,862,563 shares for 471.4 million ringgit (124 million dollars) representing 25 percent of all the shares available for subscription have been received," it said in a statement.

The remaining unsubscribed shares would be taken up by the underwriters of the initial public offering exercise, it added.

Time dotCom, a unit of Time Engineering, had hoped to raise 1.87 billion ringgit in its initial public offer of about 570 million shares.

The offer includes a public issue of 343 million shares at 3.30 ringgit each, including 169.23 million new shares and 173.77 million shares owned by Time Engineering.

There will also be a restricted offer of 144.54 million Time dotCom shares by Time Engineering, which will also place 84.155 million Time dotCom shares to specific investors.

Time Engineering is part-owned by debt-ridden conglomerate Renong and part of the proceeds will be used to cut debt.

The statement from the issuing house said Time dotCom received only 14,558 applications for 29.738 million shares from the public, eligible employees and dealers.

For the restricted offer for sale, it said there were only applications for 28.669 million shares.

Analysts have said that Time dotCom's IPO was an indicator of investors confidence in Renong's corporate restructuring.

Talks that the IPO, which closed for subscription on Thursday, was heavily undersubscribed had pulled the stock market down in the past few days.