Welcome to icapital.biz Berhad
icapital.biz Berhad is a closed-end fund listed on the Main Board of Bursa Malaysia with a paid-up capital of RM140 million.
MATERIAL LITIGATION
icapital.biz Berhad ("ICAP" or the "Fund") KUALA LUMPUR HIGH COURT ORIGINATING SUMMON NO. WA-24NCC-581-10/2023
Further to the announcements dated 3 November 2023, 16 November 2023, 17 January 2024 and 4 March 2024 (“Announcements”), unless otherwise defined, the definitions and terms used as set out in the Announcements shall apply herein.
.....MoreMATERIAL LITIGATION
icapital.biz Berhad ("ICAP" or the "Fund") KUALA LUMPUR HIGH COURT ORIGINATING SUMMON NO. WA-24NCC-581-10/2023
Further to the announcements dated 3 November 2023, 16 November 2023 , 17 January 2024 and 4 March 2024 (“Announcements”), unless otherwise defined, the definitions and terms used as set out in the Announcements shall apply herein.
The Board of Directors of the Fund wishes to announce that the Judge of the Kuala Lumpur High Court had dismissed Pop Investment Limited ("Plaintiff")’s suit on the Originating Summons No. WA-24NCC-581-10/2023 (“the OS”).
The Fund will make further announcement on the developments of the above matter as and when is necessary.
This announcement is dated 25 March 2024.
LessNEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP") .....MoreNEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP")We refer to the Company’s announcement dated 2 October 2023 in relation to the Proposed DRP.
We also refer to the Company’s announcements dated 3 November 2023 and 16 November 2023 in relation to the originating summons and an ad interim injunction order to injunct the Company from complying with the 20% prescribed limit on foreign shareholding as announced by the Company on 8 September 2023, 15 September 2023 and 29 September 2023.
On behalf of the Board of Directors of ICAP (“Board”), RHB Investment Bank Berhad and Astramina Advisory Sdn Bhd wish to announce that, pending the resolution of the originating summons and dissolution of the ad interim injunction order, the Board has resolved that, in line with proceedings conducted at the Annual General Meeting on 4 November 2023, all shareholders of ICAP (including foreigners) are eligible to participate in the Proposed DRP.
This announcement is dated 29 November 2023.
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP") .....MoreNEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP")We refer to the Company’s announcement dated 2 October 2023 in relation to the Proposed DRP.
We also refer to the Company’s announcements dated 3 November 2023 and 16 November 2023 in relation to the originating summons and an ad interim injunction order to injunct the Company from complying with the 20% prescribed limit on foreign shareholding as announced by the Company on 8 September 2023, 15 September 2023 and 29 September 2023.
On behalf of the Board of Directors of ICAP (“Board”), RHB Investment Bank Berhad and Astramina Advisory Sdn Bhd wish to announce that, pending the resolution of the originating summons and dissolution of the ad interim injunction order, the Board has resolved that, in line with proceedings conducted at the Annual General Meeting on 4 November 2023, all shareholders of ICAP (including foreigners) are eligible to participate in the Proposed DRP.
This announcement is dated 29 November 2023.
Tan Teng Boo Says It’s Time To Buy Malaysian Equities; It’s Time to Bet On “Positive Change”
Key quotes from Tan Teng Boo:.....More
Tan Teng Boo Says It’s Time To Buy Malaysian Equities; It’s Time to Bet On “Positive Change”
Key quotes from Tan Teng Boo:- “After trapping investors in bear market rallies since 2014, Malaysia is now at a critical juncture. For the first time in many years, I have turned more optimistic about Malaysia’s future.”
- “Malaysia’s economy and politics are gradually transforming as the negative influence from the old political leadership is no longer lingering.”
- “Thanks to the convergence of many positive factors, there are now reasons to buy Malaysian stocks for the long-term even though we are still facing many challenges.”
KUALA LUMPUR 9 OCTOBER 2023: Tan Teng Boo, the Designated Person for icapital.biz Berhad (5108, ICAP), believes that the future for Malaysian equities looks bright despite challenges from pandemic recovery, geopolitical tensions, political turmoil, soaring global inflation, volatile exchange rates and extreme climate pattern.
“Fundamental and structural changes will indeed take time, but the wheels of positive change have already been set in motion. Malaysia’s economy and politics are gradually transforming as the negative influence from the old political leadership is no longer lingering,” said Tan.
Expanding on this, Tan explained that Malaysia, under Prime Minister Anwar’s administration, has done the right thing by remaining neutral amid the escalation of the US-China rivalry. “Why must we choose, we want to be friends with everybody. As an open economy, Malaysia needs to be friends with everybody,” said Tan.
Moving forward, Tan, who has more than five decades of investment experience, sees a good chance for Malaysian stocks to perform better than what they have delivered in the past. “Bursa Malaysia has witnessed many short-lived bull markets, but very few investors know that Bursa Malaysia had only one sustained bull market, from 1974 to 1981. I am the only living fund manager in Malaysia who experienced this real bull market. After trapping investors in bear market rallies since 2014, Malaysia is now at a critical juncture. For the first time in many years, I have turned more optimistic about Malaysia’s future. Thanks to the convergence of many positive factors, there are now reasons to buy Malaysian stocks for the long term even though we are still facing many challenges," said Tan.
"Moreover, there is no need to exactly time the market. Picking the right stocks and investing for the long-term is a better strategy,” said Tan.
Teng Boo will further detail his views on Malaysia during Capital Dynamics and icapital.biz Berhad’s 2023 Investor Day, slated to be held on Sunday, November 5 at the Kuala Lumpur Convention Centre. This year’s event is entitled “Why Now is the Right Time to Invest in Malaysia.”
Tan has a track record of spotting and seizing investment opportunities just when everything seems doom and gloom. In the wake of the 1987 Black Monday market crash, as fears of a looming Great Depression gripped investors, Tan established Capital Dynamics Sdn Bhd. The firm became Malaysia’s first independent investment adviser, spawning the Capital Dynamics group of investment firms in Hong Kong, Sydney, Singapore, Shanghai and Malaysia. Capital Dynamics Asset Management Sdn Bhd and Capital Dynamics Sdn Bhd are the fund manager and investment advisor of icapital.biz Berhad respectively.
With the primary objective of educating the general public on the benefits of sound investing, the not-for-profit Investor Day has been Asia’s most innovative investment event since it was first held in 2010. As in previous events, the event will be packed with high-quality programmes, featuring prominent business leaders, investors and analysts who have been brought in to share insights on investing, business, and life. Participants of past Investor Days have found them to be highly rewarding and productive.
The 2023 Investor Day will feature three exciting programmes that will run concurrently throughout the event.
The first track of programmes is ‘For the Experienced Investors’ – where key management from public-listed companies including Unisem (M) Bhd, OCK Group Bhd, Hibiscus Petroleum Bhd, Kelington Group Bhd, MKH Bhd, Eupe Corporation Bhd and APM Automotive Holdings Bhd will present overviews of their companies and take questions from the floor. In addition, an independent assessment of ICAP's net asset value and share price performance by a top finance lecturer from a leading Australian university will be presented.
The second track of programmes, ‘For Would-Be Investors’, features panels of investment, business, economic, and financial planning experts that will dissect and analyse stocks and stock-picking strategies, the principles of compounding, economic literacy, how to achieve financial independence, and the path to becoming a savvy and successful investor.
The third track of programmes will be the grand finale of the i Capital Talent Show, where 20 teams of highly gifted university students from across Malaysia will present artistic, creative and imaginative performances on stage.
Investors can register for the event at https://events.icapital.biz/landing-page/2023-investor-day-of-icapitalbiz-berhad/ . The full event agenda is also attached at the bottom of this release.
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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP").....More
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES
ICAPITAL.BIZ BERHAD ("ICAP" OR THE "COMPANY") PROPOSED ESTABLISHMENT OF A DIVIDEND REINVESTMENT PLAN THAT PROVIDES THE SHAREHOLDERS OF ICAP WITH AN OPTION TO ELECT TO REINVEST THEIR CASH DIVIDENDS IN NEW ORDINARY SHARES IN ICAP ("PROPOSED DRP")On behalf of the Board of Directors of ICAP, RHB Investment Bank Berhad and Astramina Advisory Sdn Bhd wish to announce that the Company proposes to establish a dividend reinvestment plan that provides its shareholders with an option to elect to reinvest their cash dividends declared by ICAP in new ordinary shares in ICAP.
Please refer to the attachment for the full text of the announcement in relation to the Proposed DRP.
This announcement is dated 2 October 2023.
Others
DIVIDEND POLICY OF ICAPITAL.BIZ BERHAD.....More
Others
DIVIDEND POLICY OF ICAPITAL.BIZ BERHADThe Board of Directors of icapital.biz Berhad (“Board”) wishes to announce that the Fund is introducing an innovative Dividend Policy based on the Fund’s Net Asset Value (NAV) and NAV-to-share price discount.
The Fund’s Dividend Policy, which aims to proactively narrow the gap between the Fund’s share price and NAV, is subject to market and economic conditions and the Fund’s value investing investment philosophy.
The design efforts for this innovative Dividend Policy were led by Mr Tan Teng Boo, Designated Person to the Fund Manager, Capital Dynamics Asset Management Sdn Bhd, in consultation with international finance experts.
The Dividend Policy is formulated as follows: an aggregate of (A) Base Rate of NAV plus (B) Top-Up Rate of NAV-to-Share Price discount (as defined) below :-
- Being one percent (1%) of NAV per share (“Base Rate”); and
- Being eight percent (8%) of the difference between the share price and NAV per share of the Fund (“Top-up Rate”).
The Fund’s NAV will be based on a simple average of the relevant four (4) weekly NAVs periodically announced by the Company, whereas the Fund’s Share Price will be based on the volume-weighted average price for a period of the corresponding four (4) weeks.
The Top-up Rate will not apply if the Fund’s share price is trading at parity or a premium to NAV.
Under normal market and economic conditions, the expected dividend yield will be approximately four (4%) percent. Dividend will be paid on a yearly basis.
The Board and the Fund Manager aim to deliver prudent dividend payouts, taking into consideration the long-term capital appreciation objective of the Fund, the Fund’s performance, the Fund’s NAV-to-share price discount, the Fund Manager’s value investing philosophy and asset allocation strategy, market and economic conditions and other factors considered relevant by the Board and the Fund Manager.
The effectiveness of this innovative Dividend Policy will be reviewed by the Board and the Fund Manager on an ongoing basis. The Board and the Fund Manager would like to reiterate that the Fund's primary investment objective remains as long-term capital appreciation.
More details of the Dividend Policy will be provided at the Fund’s upcoming 19th Annual General Meeting.
This announcement is dated 29 September 2023.
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Others
Lodgement to Bursa Malaysia Depository on Foreign Ownership Limit Pursuant to the Securities Industry (Central Depositories) (Foreign Ownership) Regulations 1996 ("SICDA FOR") and Rules of Bursa Malaysia Depository ("BMD Rules") .....MoreOthers
Lodgement to Bursa Malaysia Depository on Foreign Ownership Limit Pursuant to the Securities Industry (Central Depositories) (Foreign Ownership) Regulations 1996 ("SICDA FOR") and Rules of Bursa Malaysia Depository ("BMD Rules")Reference made to the announcements dated 8 September 2023 and 15 September 2023
The Board wishes to further explain on the process of determining whether foreign shareholders are entitled to the rights and obligations attached to their shares based on the Last-In, First-Out (LIFO) method.
The LIFO method of determination principally looks at the time an acquisition of shares occurred, as they appear on the record of depositories, and concludes that acquisitions that occurred ‘last’ are the ‘first’ to exit out. Applied contextually, in the event the Company’s Prescribed Limit has been breached, acquisitions that had happened later in time than those acquisitions which had happened earlier in time, as they appear on the record of depositors, will be subject to a determination as provided under Regulation 6 of SICDA FOR.
This announcement is dated 29 September 2023.
Material Litigation
Court of Appeal Civil Appeal W-01(NCVC)(W)-10-01/2019 (Cindy Yeap’s Appeal) .....MoreMaterial Litigation
Court of Appeal Civil Appeal W-01(NCVC)(W)-10-01/2019 (Cindy Yeap’s Appeal)On 9 September 2016, Capital Dynamics Sdn Bhd, Capital Dynamics Asset Management Sdn Bhd and Tan Teng Boo (“Plaintiffs”) instituted legal proceedings against Cindy Yeap, a senior editor from The Edge, for authoring and publishing an article titled ‘icapital.biz largest shareholder says fund fees high, to vote down director reappointments’ on 14 September 2015, which contained multiple misleading, false and deceptive statements about the Plaintiffs.
The High Court ruled on 7 December 2018 that the said article is defamatory of the Plaintiffs (Civil Suit No. WA-23NCVC-46-09/2016). Cindy Yeap appealed against the decision on 28 December 2018.
Capital Dynamics is pleased to announce that the Honourable Court of Appeal of Malaysia (“Court of Appeal”) has concluded this matter in its favour (Court of Appeal Civil Appeal W-01(NCVC)(W)-10-01/2019).
On 11 May 2022, the Court of Appeal unanimously agreed with the High Court decision and held that the said article is defamatory of the Plaintiffs. The 3 Court of Appeal judges echoed the decision of the High Court in holding that all elements of defamation had been successfully proven by the Plaintiffs, and rejecting Cindy Yeap’s defences of justification, qualified privilege and reportage and/or Reynolds defence.
Further, they noted that the timing of the said article was very close to the Annual General Meeting of 19 September 2015 and hence could amount to incitement of the shareholders to remove the Plaintiffs from their respective positions. They concluded by saying that Cindy Yeap was irresponsible in her reporting which had the effect of lowering the Plaintiffs’ reputation with the public.
Covid-19 SOP
All Capital Dynamics offices are operating as usual in accordance with the requirements/standard operating procedures ("SOP") as prescribed by the relevant authorities in their respective countries......MoreCovid-19 SOP
All Capital Dynamics offices are operating as usual in accordance with the requirements/standard operating procedures ("SOP") as prescribed by the relevant authorities in their respective countries.We will continue to take precautionary measures to protect our employees, clients and other stakeholders. All visitors must wear face masks and ensure social distancing when you visit any of our offices. To better manage your visits and avoid any inconvenience, you are advised to make an appointment with us before your visit via phone call or via email to the relevant offices. For more details, please access the webpage of the relevant offices. Less
Impersonation
Dear clients, followers and friends,We would like to alert you to ongoing impersonation scams, with fraudsters posing as employees, financial advisors, representatives, agents and/or associates of the Capital Dynamics Group by using pseudonyms......More
Impersonation
Dear clients, followers and friends,We would like to alert you to ongoing impersonation scams, with fraudsters posing as employees, financial advisors, representatives, agents and/or associates of the Capital Dynamics Group by using pseudonyms. There have also been instances where fraudsters impersonated Mr Tan Teng Boo (“Mr Tan”), the Managing Director and representative of Capital Dynamics Group which comprises Capital Dynamics Asset Management Sdn Bhd, Capital Dynamics Sdn Bhd, Capital Dynamics Global Pte Ltd, Capital Dynamics (S) Pte Ltd, Capital Dynamics Asset Management (HK) Pte Ltd, Capital Dynamics (Australia) Ltd and Capital Dynamics Investment Management and Advisory (Shanghai) Co Ltd.. These fraudsters / impersonators have created fake social media accounts / profiles and/or online applications to carry out their impersonation scams.
Based on information received to date, the modus operandi of the impersonation scams appears to be:
- The fraudsters would reach out to the public via SMS text messages, WhatsApp, Telegram, LINE or Facebook. They may claim to be financial advisors from the Capital Dynamics Group and present fake licences and/or certificates purportedly issued by financial regulators to advise on investments and/or carry out investment plans.
- At times, they may also claim to be Mr Tan by using fake Facebook / WhatsApp profiles and groups which display Mr Tan’s name and photos. The fake WhatsApp profile appears to be created using the mobile number +60111492189. There may be other fake WhatsApp profiles created by the fraudsters. These fake profiles are not managed by the Capital Dynamics Group and/or its employees including Mr Tan.
- By impersonating our employees and/or claiming to be financial advisors acting on behalf of Capital Dynamics Group, the fraudsters would deceive victims into opening “accounts” with certain “trading platforms”. The fraudsters would falsely claim that they would guide the victims to conduct trades with immediate gains, or that they were offering investment plans or training courses purportedly on behalf of the Capital Dynamics Group. Consequently, the victims were induced to transfer money or cryptocurrency to their “trading accounts”. Over time, the victims were not able to withdraw their money or cryptocurrency and the fraudsters became uncontactable.
We urge all of you to exercise caution and to conduct the necessary due diligence before making any investments. Kindly note that:
- We will never ask our clients to open accounts with trading platforms and to transfer money or cryptocurrency to these accounts. We are not affiliated or linked in any way to these illicit and unlicensed “trading platforms”.
- We do not offer investment advice, investment plans or training courses through agents.
- Any information on our fund management services (as well as our investment advice, opinion and events) is published only on our official websites, iCapital publications and/or official social media accounts. A list of our official channels may be found below.
- You should lodge police reports if you think that you may be a victim of scams.
- Please contact us if you have any doubts or uncertainties over any communications made to you by any person claiming to be an employee, officer, financial advisor, representative, agent and/or anyone claiming to be associated with the Capital Dynamics Group. The contact details of each of our offices may be found at this link: https://www.capitaldynamics.biz/en.
The scams were conducted without the knowledge, consent and authority of Capital Dynamics Group and our management. We as well as our Managing Director have lodged police reports in Kuala Lumpur and Singapore and have duly notified the authorities of these impersonations and scams.
More information on the impersonation scams may be found at: https://www.icapital.biz/public/general_announcements.
Best wishes,
Capital Dynamics Group
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Why Now is the Right Time to Invest in Malaysia by Tan Teng Boo (2023 Investor Day)
Assessing icapital.biz Berhad's NAV and Price Performance by Dr Lorenzo (2023 Investor Day)
Why You Should Invest in icapital.biz Berhad
Investing for the Long-Term:
A Conversation with ICAP's Most Senior Share Owner