sentiment, page-10

Thanks MG - if you are right, you will have certainly lived up to your HC username!

Let's say a deal is done on terms that are overall attractive. BRM will still have some work to do to regain full investor confidence with Wah Nam as the majority shareholder. And Wah Nam may not be helping over its behaviour on the FRS takeover.

Barron01 suggested Wah Nam wil be diluted out of its majority shareholding as they will not have cash to for an equity raising....unless they possibly use their proceeds from its FRS stake. If we are looking at a traditional 30/70 equity/debt split this may be enough to cover them and still have majority control.

Against this background I wonder how the two Wah Nam directors are doing at BRM. Are they really adding any value? They are slated to resign their positions in November this year. Mozart suggested this may be for them to get re-elected at the AGM. The other possibility is that they may be looking at offloading or reducing their stake in BRM to someone like Sinosteel or someone similar, which would be the rational thing to do, as they could add more value...(this is probably wishful thinking on my part!) All up there are too many permutations and combinations for my peanut to consider.

How Wah Nam is able to convince the market of any genuine intentions will be one of the keys to BRM regaining in value for them and other shareholders.