Why Equine Capital been selected as target take over?

PROFILE BRIEF
Equine Capital Berhad is an investment holding and its subsidiaries are engaged in the property development activities
2004 2005 2006

Operating Margin	18.56	32.06	21.47
Return on Equity Capital	7.93	12.44	6.34
Net Profit Margin	10.8	22.12	13.07
Current Ratio	1.15	1.26	1.92
Debt to Capital at Book	0.22	0.17	0.23

Turnover/Net Sales	86,366	140,437	131,026
EBITDA	16,580	46,017	23,263
EBIT	15,930	44,739	21,754
Net Profit	9,325	31,060	17,131
Ordinary Dividend	0	0	-2,700

result for 2006

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
17-May-07		31-Mar-07		4	31-Mar-07		25,187		1,081		0.72		-
12-Feb-07		31-Mar-07		3	31-Dec-06		14,252		512		0.34		-
13-Nov-06		31-Mar-07		2	30-Sep-06		17,670		1,910		1.27		-
16-Aug-06		31-Mar-07		1	30-Jun-06		19,411		53		0.04		-

Market Watch

Market Intelligence

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Maritime

The financial resuit can saisd is decreasing over the year, but the price up from dec low 41 cent to current 180 cent ++ .What is the reason behind ? When you read through the financial statement, The only reason is due to highly liquidity of the stock, according to filing on bursa on latest december 2006, 72% of share is holding by public who hold more than 100 share.

Recent development see the lion capital , Great eastern merge as bigger share holder, I can see that OCBC may not become major shareholder of the co (14% through about 2 arms). lastly appointment of news Director that backgroud related to ocbc may see the futher development.

Why OCBC want to take over such small cap in bursa? If you read in the last Annual Report. The company own some value land in petaling jaya area ( more than 100 hektar). Otherwise i don't see any reason why they want this company.

Liquidity is one of the reason why investors taste for invests. For Bursa neeed work hard on that. Many Big cap still holding by government.