Showing posts with label Rimbunan Sawit. Show all posts
张晓卿深谙“竞争”原则 强者恒强常青不倒 (大马超级富豪NO.12)
这不仅是一段激励他人迎接未来艰巨挑战时值得深思的话，也可被诠释为，在张晓卿领导下，常青集团从初创期的小公司，经历37年企业竞争，不断创新改革，壮大成今日挤进世界500强企业的心路历程。
在大马南洋富豪榜位居第12位的丹斯里拿督张晓卿，在2012年初集团年宴致词时，说过如此一段话：“严峻的挑战，危机的来临，常常是自我检讨和诊断的机会，也是自我警觉和改变的开始。它不但考验人的能力和智慧，也考验企业的体制和管理。”
把一家小木材公司，慢慢打造成今日涉及多个领域的多元化企业王国，常青集团执行主席张晓卿深懂在“竞争就是生存”原则下，企业必须是强者、是勇者，敢于创新、改变和学习，通过努力争取才有机会强大至如现今的常青集团，可在竞争环境中屹立不倒。
其中以集团两大核心业务——木材和媒体，就得出印证上述道理的企业发展历程。
Rimbunan Hijau may seek HK listing
By Ooi Tee Ching
bt@nstp.com.my
July 2 2007
RIMBUNAN Hijau, controlled by tycoon Tan Sri Tiong Hiew King, is said to be looking to merge all its oil palm estates and forest assets around the world under one entity and list it on the Hong Kong stock exchange.
Market talk indicates that the move is prompted by the better valuation rival timber concessionaire Samling Global Ltd had experienced in the last four months, following its listing in Hong Kong in March this year.
Samling Global's offer price on March 6 was HK$2.08 (RM0.92) and last Friday it closed at HK$3.03 (RM1.34), a 46 per cent increase.
Bloomberg estimates show that there are six analysts in Hong Kong rating Samling Global's shares, with five recommending buy calls and the remaining one maintaining a neutral outlook.
In comparison, the Samling group's Bursa Malaysia-listed subsidiary Lingui Developments Bhd has one research house rating its stock.
Rimbunan Hijau's Malaysian-listed subsidiaries Jaya Tiasa Holdings Bhd and Subur Tiasa Holdings Bhd have also faired mediocrely, with two analysts covering Jaya Tiasa stock, while Subur Tiasa was last rated by a research house in 2005.
Also, since Rimbunan Sawit Bhd's debut on Bursa Malaysia in June last year, there is no formal coverage from any research houses.
"If Tiong were to group all his oil palm and timber assets under an umbrella company, it could surpass Samling Global in market value," a source said.
"Assuming that investors in Hong Kong dictate the pricing, it is likely that a merger of Jaya Tiasa, Subur Tiasa and Rimbunan Sawit could see a higher valuation. This is because fund managers see value generated into Rimbunan Hijau's group of companies from high timber and oil palm prices in the global market," the source added.
When approached by Business Times last Wednesday, Jaya Tiasa director Sandra Wong did not deny talk of Rimbunan Hijau mulling a global offering on the Hong Kong stock exchange.
She also confirmed that the group has considered grouping all its oil palm estates and timber concessions into one entity and listing it in Hong Kong "but for now, there is no decision".
She said a decision will be reached by the end of the year.
The Rimbunan Hijau group, established in 1975, is reputed to hold the largest timber concession in Malaysia spanning some 800,000ha.
The group also has large timber concessions in Papua New Guinea, Africa and Russia, among others.
Talk concerning the merger of its oil palm and forest assets started in January this year, when Tiong first announced his plans to merge all his publishing companies under Ming Pao Enterprise Corp Ltd, a media group listed in Hong Kong.
Last week, Ming Pao said its shareholders had approved the group's acquisition of Malaysia's Sin Chew Media Corp Bhd and Nanyang Press Holdings Bhd via share swaps amounting to HK$2.68 billion (RM1.18 billion).
Shareholders of Sin Chew and Nanyang are called to exchange their shares valued at RM4 and RM4.20 respectively for new Ming Pao shares valued at HK$2.70 (RM1.19) each.
Upon completion of the merger, Ming Pao will assume the listing status of Sin Chew on Bursa Malaysia, while Sin Chew and Nanyang will be delisted.
