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Overview
Financial Highlight
Headlines
Business Background Keck Seng (Malaysia) Bhd is a Malaysia based company primarily engaged in the business of palm oil cultivation and manufacturing. In addition, it is also involved in the business activities of property development and investment, and hotels and resorts ownership. The operating segments of the company are Manufacturing, Hotels and resort, Property, and Plantations. It generates the majority of the revenue from the Manufacturing segment which relates to the processing and marketing of refined palm oil products. The group’s operations are carried out principally in Malaysia, Singapore, Hong Kong, Canada, and United States of America of which key revenue is derived from Malaysia.
  Diamond7 Cresendo share split One becomes three!!! Hopefully KSeng gives bonus soon! 22/07/2024 7:18 PM prudentinvestor I still prefer cash to shares. Better declare a special dividend of RM1 per share which the company can easily afford. 22/07/2024 9:17 PM compoundingeffect Execution is key. “It's not about the cards you are dealt with, but how you play the hand.” ― Randy Pausch. In the case of property developers, having large landbanks at strategic locations is akin to being dealt a good set of cards in a card game. Nonetheless, the value of the lands are only as good as the hands that they are in. At the end of the day, the value of the lands depend on the ability of a company management to monetize and maximize the yield of the lands. This is the Property l Sector Outlook/Thematic 18 HLIB Research l www.hlebroking.com reason why some of the developers continue to trade at steep discount to book value while some companies are already trading at a premium to it 23/07/2024 11:34 AM compoundingeffect Another example of a company that monetizes their lands well is Crescendo. Crescendo was one of the first companies that announced land sale to DC back in Nov 2023. Since then, it has announced a total of four land sales to DCs to-date. In its latest quarterly results 1QFY25 (FYE: Jan), the group NTA was lifted significantly to RM4.36 (+24.2% from RM3.51 from the preceding quarter) as it recognized substantial land sale gains to DC. There remains more land sale to DCs that will be recognized in subsequent quarters. Other than this, the group also managed to capitalize on the steep price rise near RTS station as it acquired a land near the station in Sep 2023 for a purchase price of RM72m. Since its acquisition, the GDV of the project was revised upwards several times from RM700m to RM900m and most recently to RM1bn, indicating how rapid house prices are rising in that area. At RM1bn, the land cost-to-GDV is only 7%, thus, the project margin should be very lucrative. The project is slated to be launched soon in 2HFY25. .......can we suggest Kseng management do the same?? 23/07/2024 11:38 AM prudentinvestor Keck Seng's share price can easily be supported at above RM8 a share with less than RM100 million. With net cash in excess of RM1.1 billion and mostly kept in banks as fixed deposits, this should be a more proactive thing to do. 23/07/2024 12:35 PM compoundingeffect (a) How will the Company use its RM1.2 billion reserves? (b) Does the Company plan to distribute 50% of net profits as dividends or issue bonus shares? The dividend payout ratio of the Company is extremely low despite the Company’s high annual cash inflows and huge cash balance in the balance sheet. Loyal shareholders are not getting reasonable dividends based on the Company’s financial performance and standing. A1) (a) The RM1.2 billion reserves are being maintained for several key reasons, to ensure the Company’s financial stability and to support its ongoing and future business developments and acquisitions. These reserves allow the Company to be both prudent, yet agile in seizing such opportunities. (b) The Company had demonstrated its commitment to shareholders’ returns by declaring a total dividend of 15 sen per share for 2023, which includes a special dividend of 5 sen per share. This reflects the Company’s effort to return value to shareholders. While Management acknowledges and will consider various proposals on dividend payout and bonus shares, these must be evaluated within the broader context of the Company’s strategic objectives and prevailing market conditions. The Board remains committed to balancing immediate shareholder returns with the long-term sustainability and growth of the Company. 23/07/2024 2:16 PM  calvintaneng Don't waste time here with little catalyst See HEXCAP (0035) is now Oversold. Time to Accumulate in View of TNB RM90 BILLIONS CAPEX 2025-2030, Calvin Tan https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-07-25-story-h-156043017-HEXCAP_0035_is_now_Oversold_Time_to_Accumulate_in_View_of_TNB_RM90_BILL 25/07/2024 12:57 AM Diamond7 Cresendo share split One becomes three.. Hopefully KSeng will oso proposed share split! 25/07/2024 2:07 PM Diamond7 Hopefully end of August interim dividend will be more than 5 cents!!! KSeng 's property n industrial land currently selling well! 25/07/2024 2:10 PM compoundingeffect The Company has been and will continue to diversify into various types of property development. Previously, the Company focused primarily on residential and commercial properties, but now the Company is expanding further into property investment, such as TD Point and TD Central. Moving forward, the Company will be starting industrial park projects and service apartments, broadening the range of products to buyers. In the next three years, the Company expects to significantly develop the BBKP township and initiate development in Taman Bukit Cahaya. The Company’s commercial properties, TD Central and BBKP Central, are expected to be more vibrant and mature. In addition, the Company will have developed a portion of the industrial segments, namely TPR Tech Park I and II. 26/07/2024 9:40 AM prudentinvestor "Don't waste time here with little catalyst" Cannon Tan, don't waste time posting any comment here, no Keck Seng investor would believe you. With billions of investments being poured into Johor Bahru and its surrounding areas, Keck Seng investors are waiting for the company to lay golden eggs. 26/07/2024 3:10 PM Diamond7 Don't waste time here with little catalyst @ Calvin tan The catalyst will come upon the signing of the SPZone agreement in September ! Following which all the resolutions will be tabled on budget day! All related resolutions will be expected to be passed on budget day! A lot of FDI foreign direct investment will flood into Iskandar! Dream big! Think of RTS Think of JB as new Shenzhen Will KSeng touch RM7.00/8.00/10.00 ? 27/07/2024 3:55 PM compoundingeffect I think Kseng will touch RM7/RM8/or even RM15 one day. But, what's your purpose to ask such a question? If Kseng is RM8 now, what would you do? 1) Buy More because it proved that what we compute on the value is correct and we bough quite undervalue? 2) HOLD, maybe sell 20% and feel happy about our instinct? 3)SELL, take profit and find another more undervalue counter? Just imagine, if you claim to be the shareholder/owner of the company, you know that how much your co. is worth, right? at least RM20? Why would we bother to see the price increase to RM7/RM8/RM9? And, why would we worry if price dropped back to RM5? Does this price matter to major shareholder? If you bought at RM3, you already make 100%. If your start buy at RM6 and hope for the SEZ, you hope price can goes to RM8? How about the major shareholder whom holding cost is RM0.20? Do your think he will sell it to other?......If you have RM5m FD at bank and your famous friend Mr. Calvin Tan shouted at you that you are a poor guy, would you be angry with him? So, you know very well that Mr. Calvin is wrong and you wont even bother about what he said? 29/07/2024 2:23 PM Diamond7 @compoundingeffect I fully agree with you... KSeng is highly undervalue Worth at least RM20 Thank you for your comments! 😊 ❤️ KSeng is highly undervalue Have great potential of touching RM20! 29/07/2024 7:55 PM compoundingeffect For Kseng, the management might have to consider how do improve the liquidity of the share. Example can be share split or bonus issue, whichever way will helps! Active vs. Passive Management: For active fund managers, liquidity is critical to executing strategies that involve frequent trading or rebalancing. Passive managers may be less affected but still consider liquidity for rebalancing purposes. Market Capitalization: Larger companies generally offer better liquidity compared to smaller, less-established firms. Fund managers might favor stocks of larger companies for their better liquidity profiles. 30/07/2024 9:12 AM compoundingeffect Kseng management can consider meeting up with analyst to cover its stock and employ professional investor relationship manager to deploy what is the company progress in landbank unlocking especially the converted landbank from TPGolf to industrial title for sell. Beside, most investor probably would like to know how will Kseng benefits from SEZ in the event that materalized. You don't have to tell MORE or tell LESS, you just have to tell the CORRECT picture what's the company progressing and let investor judge whether it's suitable to invest or not. At the end, what everyone hope for is the market better reflect the true value of the company. 30/07/2024 9:21 AM calvintaneng No waste time as they don't bother Go for Tsh https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-02-story-h-155174342-TSH_RESOURCES_9059_AN_IMMEDIATE_LOOK_AT_ITS_VALUE_CURRENT_PROSPECTS_Cal 02/08/2024 4:28 PM calvintaneng KSENG IS OVERVALUED UNDERSTANDING DIFFERENT FORMS OF VALUE IN VALUE INVESTING, Calvin Tan https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-03-story-h-155170407-UNDERSTANDING_DIFFERENT_FORMS_OF_VALUE_IN_VALUE_INVESTING_Calvin_Tan 03/08/2024 12:29 AM prudentinvestor "KSENG IS OVERVALUED UNDERSTANDING DIFFERENT FORMS OF VALUE IN VALUE INVESTING, Calvin Tan" Can Tan, all Keck Seng investors know the company is grossly undervalued. It has got lots and lots of land acquired more than 40 years ago that have not been revalued. Only a fool would say that it is overvalued. 04/08/2024 12:21 PM prudentinvestor Fair value for TSH is only RM1 whereas fair value for Keck Seng is over RM20. 04/08/2024 12:23 PM Diamond7 Sun 4 Aug 2024 KUALA LUMPUR: JP Morgan says the Johor-Singapore special economic zone (SEZ) will likely be a multi-year growth story just as how Shenzhen SEZ has developed over the past 45 years. It also said the Johor-Singapore SEZ provides high-growth sector specific opportunities, outside of property land bank play. The SEZ is promising given a more conducive regulatory and policy environment with proactive collaboration, the US investment bank added. The firm expects regulatory harmonisation and tax incentives to pave the way. 04/08/2024 4:55 PM Diamond7 https://www.klsescreener.com/v2/news/view/1369455 Read what JPMorgan writes... 04/08/2024 4:57 PM calvintaneng Kseng fall 🗡️ As it is overvalued Stay safe in palm https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-01-16-story-h-210439465-WHEN_BUBBLE_BURSTED_DON_T_CATCH_FALLING_KNIFE_STAY_SAFEST_IN_PALM_OIL_C 05/08/2024 11:23 AM prudentinvestor Keck Seng has shot up from RM3.40 just over a year ago to over RM6 recently. It is natural that when market sentiment is bad, some weak holders would decide to take profit. Nothing very unusual. It has got over 8,000 acres of land not revalued since 1980. It is worth RM20 a share compared to TSH's RM1. 05/08/2024 3:53 PM prudentinvestor Tua Pao Tan, just a few weeks ago you praised JCY to the sky, claiming it was serving the whole world. It was at around 90 sen a share when you posted your eulogy. It has tumbled by 40% by now. Those who had heeded your advice have all landed in Holland. 05/08/2024 3:59 PM prudentinvestor Let's compare Keck Seng and TSH and see who is really boloh. Keck Seng NTA RM7.77, EPS last financial year 67 sen, first quarter EPS 13.8 sen net cash RM1.1 billion, investment in listed securities RM410 million, over 8,500 acres of development and plantation land not revalued for over 40 years. Worth over RM20 per share. TSH NTA RM1.50, EPS last financial year 6.9, first quarter EPS 1.45 sen Net cash ZERO, investment in securities RM25 million. One is a useless stone, the other one is a piece of diamond. 05/08/2024 7:54 PM calvintaneng Hahaha Tsh got Rm150 millions in Inno shares or 105 million Inno shares TSH T = Tasty S = Sweet H = Honey 13/08/2024 3:40 PM calvintaneng Keck Seng In hokkien Gek sim = heart sick Tsh can up 100% to 200% like Bplant up from 57 sen to Rm1.55 Gek sim can down 30% or more in coming crisis when Trump terror tariff tax all 13/08/2024 3:42 PM prudentinvestor "TSH T = Tasty S = Sweet H = Honey" Tua Pao Tan, no matter how you extol TSH, a useless stone can never become a diamond like Keck Seng. Just accept this reality. 13/08/2024 5:21 PM prudentinvestor "Yes Speakup Better buy Jtiasa than over already kseng anytime" Tua Pao Tan, 4 weeks ago you posted the above comment. Jtiasa has dropped by 10% (from 1.12 to 1.01), Keck Seng has just fallen by 3.5% (from RM6.20 to RM5.98). You keep bringing people to Holland. 13/08/2024 5:37 PM Superdaddy To me, Keck Seng is a super undervalued gems yet to be uncovered by many value investors. Cheers!!! 14/08/2024 12:57 PM Superdaddy Hopefully, someone can stop degrading such a wonderful stock in exchange of his own shares for his own benefits. Cheers!!! 14/08/2024 1:01 PM prudentinvestor This clown is likely heavily exposed to TSH. Can't say anything negative about TSH, otherwise he will track you down and say something bad about the shares you have bought. 14/08/2024 5:09 PM prudentinvestor Keck Seng is so illiquid that you can actually manipulate its share price to cause some jitters among small investors. My advice is, just hold on to your shares until golden eggs are being laid. 17/08/2024 6:04 PM  Sslee If you are shareholder of KSeng you can write to KSeng IR with CC to Julius Baer (Spore) to take action on calvintaneng for malicious act with intention of manipulating KSeng share price: Posted by calvintaneng > Aug 23, 2024 10:04 AM | Report Abuse Please take note and be warned Julius Baer (Spore) Kseng Top holder has been involved in wrongful acts in Singapore if there is any force liquidation Kseng will be impacted as Top holders might be forced sold so better sell Kseng or later Gek Sim (Heart sick with pain in hokkien) https://igamingbusiness.com/uncategorized/singapores-aml-charges/#:~:t.... 23/08/2024 10:14 AM calvintaneng please do think very carefully see two macro picture 1. In Peninsular (West Malaysia ) there is a 52% diesel price rise as such all industries will be impacted by a corresponding rise of 5% to as high as 30% these will see higher cost 1. property 2. construction 3. construction material 4.logistic that send goods by lorry or ships 5. consumer food and drink which are bulky 6. Toll road owners as lorries now see higher operation cost by 52% they will make less trip so less collections from till others 2. By Nov 2024 if Trump gets elected he will impose 10% tariff (tax) for all and for China it will be 60% tariff so all industries related to export to USA will be hit two things will hit all a universal price rise caused by rise of diesel 52% a universal tariff by USA from 10% to 60% that is why it is of utmost safety to go invest in East Malaysia stocks which got no 52% diesel rise there and palm oil export is more to India and China (not USA) 23/08/2024 10:22 AM prudentinvestor Smart people know how much Keck Seng is worth and won't be taken in by a Gong Kia's advice. They don't want to go to Holland. 23/08/2024 2:48 PM prudentinvestor @Sslee, very smart of you to repost CalvinTan's post accusing Julius Baer of involvement in wrongful acts in Singapore. It was Julius Baer's staff by the name of Liu Kai who was implicated. Unscrupulous CalvinTan has now deleted all his slanderous posts. 23/08/2024 3:12 PM prudentinvestor Ringgit's rapid rise over the last two months is bad news for Keck Seng. I doubt if the management has pared down its foreign currency holdings before Ringgit started to gain ground. 28/08/2024 10:24 PM jongtpuk Good news for companies that own huge land bank in Johor-Singapore Special Economic Zone... https://www.mti.gov.sg/Newsroom/Press-Releases/2024/08/Officials-met-in-Johor-to-advance-discussions-on-the-Johor-Singapore-Special-Economic-Zone 31/08/2024 5:11 PM calvintaneng These are some facts Refer to Bursa Annual Report 1. Kseng has less than 9,000 acres oil palm lands While Tsh Resources got over 150,000 acres 2. Spore Dbs Bank in Top 10 of Tsh but not in Top 10 of Kseng Why Dbs Bank only invest so much in Tsh Resources and not Kseng??? Why? See https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-04-25-story-h-182876873-TSH_RESOURCES_9059_2023_ANNUAL_REPORT_SHOWS_A_WONDERFUL_COMPANY_WITH_AM 31/08/2024 5:14 PM Diamond7 KSeng's core business is property and development. Q2 net profit is 26.03 million compared to Q1net profit of 18.875 million. It's second core business as hotel business . It's earnings rose from 5.089 to 18.658 million! It's oleo chemical business profits down to 0.904 million due to US currency fluctuation. But this is not KSeng's core business. Overall KSeng performance is good. Coming quarters in view of JB being new Shenzhen KSeng 's performance will be even better! This is a SMART market! KSeng's share price will continue go up based on it's earnings per share and dividend pay out! 31/08/2024 8:35 PM prudentinvestor Posted by calvintaneng > 21 hours ago | Report Abuse These are some facts Refer to Bursa Annual Report 1. Kseng has less than 9,000 acres oil palm lands While Tsh Resources got over 150,000 acres 2. Spore Dbs Bank in Top 10 of Tsh but not in Top 10 of Kseng Why Dbs Bank only invest so much in Tsh Resources and not Kseng??? Why? Calvin the Tua Pao wrote that Kseng has less than 9,000 acres oil palm lands. This is a deliberate misrepresentation of facts. 1 Keck Seng has nearly 600 acres (237 hec) of residential and commercial lands under development at Bandar Baru Kangkar Pulai 2 Keck Seng is also the owner of the 500 acre (208 hec) Tanjung Puteri Golf Resort which consists of a 54 hole golf course, clubs and other recreational facilities. 3 Keck Seng also owns the Tanjung Puteri Resort which is an 800 acre (359 hec) residential, commercial and industrial land under development. The rest of Keck Seng's nearly 9,000 acre land is under oil palm cultivation. Keck Seng's lands are all located in Johor Bahru, a city with a population of 1.8 million. In comparison, Nusantara is expected to have a population of 1.9 million in 2045. Keck Seng's land is worth at least RM4.5 to RM5 billion but TSH's land is worth at most RM10k per acre or just RM1.5 billion in total. One is a useless stone, the other is a piece of diamond. 01/09/2024 3:49 PM kk7198 I would think Oriental ( 4006 ) is better bet than both TSH and K Seng. Oriental has net cash of 3.1 billion and many undervalue lands. Better buy now as it would not stay below RM7.00 next year. 03/09/2024 10:45 PM prudentinvestor Oriental Holdings has more cash per share than Keck Seng but Keck Seng has lots of properties purchased over 40 years ago and yet to be revalued. 05/09/2024 9:31 AM prudentinvestor When Covid 19 lockdowns triggered a world wide economic recession and resulted in Keck Seng posting losses in 2020, it immediately stopped paying dividends though it still had plenty of cash. The Genting group of companies, though suffering from several years of losses continued to pay reasonably good dividends. Keck Seng's profit increased by several folds in 2023 and 2024 but it only increased its dividend payout by a disproportionate amount. 08/09/2024 12:44 PM prudentinvestor I think Oriental Holdings is a good and well managed company worth a second look. I have never bought this company before in my few decades of investment experience but have heard of its good performance and know that it is cash rich and had lost its Honda franchise in Malaysia many years ago. Just have a brief look at its annual report and now know it is a well diversified company. 08/09/2024 2:57 PM  | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
