There will be a major announcement from the Popular Bank, rumored to involve Lun Ping.
$PBBANK (1295.MY)$ There will be a 'major announcement' on Friday, reportedly planning an acquisition activity that may involve $LPI (8621.MY)$ 。
According to the financial website "The Edge", although it is not clear which company it is at the moment, industry insiders say that this potential acquisition action may be closely related to Lund Ping.
After the news came out, the stock quickly rose to 13.08 ringgit in the afternoon, with an increase of over 2.3%, marking the largest single-day gain since August 21.
By the time of the market close, Lund Ping gave back some of its gains, closing at 13 ringgit, up 22 cents or 1.72% for the day, with a market cap of 5.179 billion ringgit.
Integration of Zheng Hongbiao's estate?
According to Lund Ping's annual report, as of January this year, the late and also the founder of Public Banks Tan Sri Zheng Hongbiao's private investment company - Zhengshi United Holdings holds 42.74% of the shares in the company.
Based on the closing price, the value of the shares held by Zhengshi United Holdings is over 2.2 billion ringgit.
In addition, Zheng Hongbiao also directly holds 1.31% of Lund Ping's shares; Lund Ping's other major shareholder is Sompo Japan Insurance Company, holding 7.76% of the shares.
As for Public Banks, by the end of February, Zhengshi United Holdings held 21.64% of the bank's shares; he directly held 0.64%, and Lund Ping held 1.1%.
According to CTOS data, Zheng Hongbiao holds almost all the shares of Zheng's joint controlling stake, with only one share held by Zheng Meiling (translated name).
In addition, Zheng Meiling, Zheng Hongbiao's youngest daughter Zheng Lixian, Cai Xiuchuan (translated name), and Zheng Caiping (translated name) are all listed as directors or executives of Zheng's joint controlling stake.
Looking back at Lun Ping, fully owns Lun Ping Insurance (Lonpac Insurance) responsible for insurance business in Malaysia and Singapore, and holds a 45% stake in Campu Lonpac Insurance Company in Cambodia.
According to the company's financial report, Lun Ping's net profit for the first half of the year (as of the end of June) increased by 30.7% to 0.17929 billion Ringgit, and is bullish on the government increasing spending on the semiconductor industry, building manufacturing capabilities, expanding public infrastructure, and is expected to boost demand for insurance services in the next few quarters.
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📈 Individual stock analysis at a glance 📉
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📝【Contributing Journalist】Yang Huiping
📰 Full text availableClick to read the blockbuster announcement!
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Source of information: Nanyang Business Daily
Disclaimer: This content is for reference and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and responsibilities resulting from relying on this content. Before making any investment decisions, be sure to conduct your own independent research and evaluation, and consult professional advice when necessary. The author and related participants are not responsible for any losses or damages caused by the use or reliance on the information contained in this article.
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