Sat May 19, 2012 5:36 pm
Wisdom Mr.VT had privatised his own MOL in year 2008 to crap higher wealthy in future.
Vincent Tan nets Facebook windfall
THE man who owns Cardiff City is today £84.7m richer after seeing his Facebook shares go through the roof.
Vincent Tan, the money-man behind the Bluebirds, made his windfall after the social networking company floated on the New York Stock Exchange last night.
The Malaysian billionaire has 3.5million shares in Facebook, which were last night valued at $38.23 – or £24.20 per share.
If Tan held onto his shares, they will today be valued at $133.8m or £84,711,945.50.
Tan was ready to invest £100m into Cardiff City if his ambitious proposal to rebrand the Championship club went through.
He and his fellow Malaysian board members wanted to change club colours from blue to red, believing they would sell more replica shirts in the Far East where it is seen as a strong and successful colour.
The Malaysians did a U-turn on those plans following resistance from some supporters and are weighing up what to do next with the club.
The way forward for the Bluebirds will be made clearer this week when the Malaysians are expected to announce their new plans.
Already a dollar billionaire, Tan saw his own personal wealth soar further still as a result of yesterday’s trading on Wall Street.
The social networking site’s shares rose 5% early in their first day of trading after the listing valued the company at $104 billion (£66 billion) – bigger than Amazon or Disney.
The shares reached a peak of $41.73 at 1.40pm US time, but when the Nasdaq Stock Market closed at 4pm – 9pm in the UK – they had dropped down slightly to $38.
Tan became involved in Facebook through his company MOL Global Bhd. In an interview in Malaysian newspaper The Star recently, he revealed how he gained a lucrative stake in the social networking phenomenon.
When pioneering social network site Friendster went up for sale after posting huge annual losses, despite having 40million active users, Mr Tan decided to make a bid for the company.
He said he outbid Facebook – which was interested in buying some of Friendster’s patents – for the business, with a £25m offer in 2008.
Facebook was interested in the technology rights and was willing to offer £12m for them.
“We had a conference call with the people at Facebook,” Tan said. “I accepted their price but I wanted shares.”
Despite Facebook boss Mark Zuckerberg’s unwillingness to dilute shares in the company, the deal went through and Tan got 700,000 shares.
They grew to 3.5million following a five-for-one split in Facebook’s shares before yesterday’s stock market launch.
Further news..............
MOL may sell Facebook shares
PETALING JAYA: MOL Global Bhd may sell off its shares in Facebook Inc and utilise the proceeds to expand its current business or distribute it as dividends to shareholders.
It depends on the performance of the shares tonight (last night). If they do well, we will sell, group chief executive officer Ganesh Kumar Bangah told StarBizWeek just before the shares were listed on Nasdaq in the United States yesterday night.
MOL, which is controlled by billionaire Tan Sri Vincent Tan, owns 3.5 million shares in Facebook, the worlds No. 1 social networking site. Tan owns 88% in MOL while Ganesh owns the remaining equity.
MOLs shares in Facebook came about in exchange for patents from another social networking site Friendster, also owned by MOL.
MOL paid about US$38mil to buy Friendster a few years back, which implies that the cost of getting those Facebook shares is US$38mil (RM119mil).
Based on the total of 3.5 million shares, MOLs stake in Facebook is worth some US$133mil (RM417mil), going by Facebooks initial public offerings highest price range of US$38 per share.
We want to expand our existing business, the proceeds (from Facebook shares) will be useful should we sell, Ganesh said.
Last year, MOL re-launched Friendster, a pioneer social networking site, as a social gaming platform.
Revenue for the first six months to Dec 31, 2011 climbed to RM352mil, almost matching the RM374mil it achieved for 2010.
Ganesh said the company was on track to achieve its full-year revenue target of RM750mil this year and this would come mainly from mobile reloads, online games and social payments.
It is also eyeing opportunities in e-commerce and physical non-cash payments to carry it on to its next phase of growth.
After being privatised in 2008 by Tan, MOL which went public in 2003, has been on a rapid expansion trail, making its presence felt in Singapore, Thailand, India, the Philippines and Indonesia.
Not only did acquiring Friendster help us to grow our community, it raised MOLs profile and also grew our recognition and branding. After we bought Friendster, suddenly everyone knew this small company from Malaysia and it has opened a lot of doors for us, Ganesh said in an earlier interview.
MOL now has over 1.55 million registered members, of which 4% to 5% spend RM300 on average per month paying for various online games.
In the earlier interview, Ganesh also said MOL had ambitious plans to potentially become a regional online social gaming portal and that it could potentially go for a re-listing.
We are in a good position to re-list and we are potentially looking at a listing early next year, he said.
Bright future for MOL?
Vincent Tan nets Facebook windfall
THE man who owns Cardiff City is today £84.7m richer after seeing his Facebook shares go through the roof.
Vincent Tan, the money-man behind the Bluebirds, made his windfall after the social networking company floated on the New York Stock Exchange last night.
The Malaysian billionaire has 3.5million shares in Facebook, which were last night valued at $38.23 – or £24.20 per share.
If Tan held onto his shares, they will today be valued at $133.8m or £84,711,945.50.
Tan was ready to invest £100m into Cardiff City if his ambitious proposal to rebrand the Championship club went through.
He and his fellow Malaysian board members wanted to change club colours from blue to red, believing they would sell more replica shirts in the Far East where it is seen as a strong and successful colour.
The Malaysians did a U-turn on those plans following resistance from some supporters and are weighing up what to do next with the club.
The way forward for the Bluebirds will be made clearer this week when the Malaysians are expected to announce their new plans.
Already a dollar billionaire, Tan saw his own personal wealth soar further still as a result of yesterday’s trading on Wall Street.
The social networking site’s shares rose 5% early in their first day of trading after the listing valued the company at $104 billion (£66 billion) – bigger than Amazon or Disney.
The shares reached a peak of $41.73 at 1.40pm US time, but when the Nasdaq Stock Market closed at 4pm – 9pm in the UK – they had dropped down slightly to $38.
Tan became involved in Facebook through his company MOL Global Bhd. In an interview in Malaysian newspaper The Star recently, he revealed how he gained a lucrative stake in the social networking phenomenon.
When pioneering social network site Friendster went up for sale after posting huge annual losses, despite having 40million active users, Mr Tan decided to make a bid for the company.
He said he outbid Facebook – which was interested in buying some of Friendster’s patents – for the business, with a £25m offer in 2008.
Facebook was interested in the technology rights and was willing to offer £12m for them.
“We had a conference call with the people at Facebook,” Tan said. “I accepted their price but I wanted shares.”
Despite Facebook boss Mark Zuckerberg’s unwillingness to dilute shares in the company, the deal went through and Tan got 700,000 shares.
They grew to 3.5million following a five-for-one split in Facebook’s shares before yesterday’s stock market launch.
Further news..............
MOL may sell Facebook shares
PETALING JAYA: MOL Global Bhd may sell off its shares in Facebook Inc and utilise the proceeds to expand its current business or distribute it as dividends to shareholders.
It depends on the performance of the shares tonight (last night). If they do well, we will sell, group chief executive officer Ganesh Kumar Bangah told StarBizWeek just before the shares were listed on Nasdaq in the United States yesterday night.
MOL, which is controlled by billionaire Tan Sri Vincent Tan, owns 3.5 million shares in Facebook, the worlds No. 1 social networking site. Tan owns 88% in MOL while Ganesh owns the remaining equity.
MOLs shares in Facebook came about in exchange for patents from another social networking site Friendster, also owned by MOL.
MOL paid about US$38mil to buy Friendster a few years back, which implies that the cost of getting those Facebook shares is US$38mil (RM119mil).
Based on the total of 3.5 million shares, MOLs stake in Facebook is worth some US$133mil (RM417mil), going by Facebooks initial public offerings highest price range of US$38 per share.
We want to expand our existing business, the proceeds (from Facebook shares) will be useful should we sell, Ganesh said.
Last year, MOL re-launched Friendster, a pioneer social networking site, as a social gaming platform.
Revenue for the first six months to Dec 31, 2011 climbed to RM352mil, almost matching the RM374mil it achieved for 2010.
Ganesh said the company was on track to achieve its full-year revenue target of RM750mil this year and this would come mainly from mobile reloads, online games and social payments.
It is also eyeing opportunities in e-commerce and physical non-cash payments to carry it on to its next phase of growth.
After being privatised in 2008 by Tan, MOL which went public in 2003, has been on a rapid expansion trail, making its presence felt in Singapore, Thailand, India, the Philippines and Indonesia.
Not only did acquiring Friendster help us to grow our community, it raised MOLs profile and also grew our recognition and branding. After we bought Friendster, suddenly everyone knew this small company from Malaysia and it has opened a lot of doors for us, Ganesh said in an earlier interview.
MOL now has over 1.55 million registered members, of which 4% to 5% spend RM300 on average per month paying for various online games.
In the earlier interview, Ganesh also said MOL had ambitious plans to potentially become a regional online social gaming portal and that it could potentially go for a re-listing.
We are in a good position to re-list and we are potentially looking at a listing early next year, he said.
Bright future for MOL?
Re: Facebook
Sat May 19, 2012 5:42 pm
f**k me, that's a long first post!!!!
Mine was, .................
Hi, I'm Jules from Luton
Mine was, .................
Hi, I'm Jules from Luton
Re: Facebook
Sat May 19, 2012 6:03 pm
LutonBluebird wrote:f**k me, that's a long first post!!!!
Mine was, .................
Hi, I'm Jules from Luton
Re: Facebook
Sat May 19, 2012 8:39 pm
JonnieBlue wrote:LutonBluebird wrote:f**k me, that's a long first post!!!!
Mine was, .................
Hi, I'm Jules from Luton
Couldn't resist
