chiowmini doubt it...after the kipnap incident at Sabah, the hotel business so worst...the hotel take up ratio only 30%...don't see any improvement...the debt...i don't know how they settle...they got big land...but no buyer as they know is risky to buy that land...cheap sales land now...but no buyer... do u really it can turnaround?
financialanalyst18Karambunai-RM0.06 (waiting for perfect timing to SHINE, under visionary businessman)
Tan Sri Chen Lip Keong -He is the 24th richest man in Malaysia with US$750 mil in assets. Low profile businessman doesn’t wait for a deal to fall into his lap-he goes out and grabs what he sees as golden opportunities.
- Founder, Controlling Shareholder and Chief Executive Officer of Hong Kong-listed NagaCorp Ltd, the largest hotel, gaming and leisure operator in Cambodia.
Chen made his name in tourism, property and industry via his controlling stakes in Karambunai Corp Bhd (Kbunai), Petaling Tin Bhd and FACB Industries Incorporated Bhd, all listed on the Main Market of Bursa Malaysia.
In October 2013, the Group has completed a corporate exercise to put the Group into better financial footing. Under this exercise Kbunai issued 2.9 billions share valued as 11 sens a share to Dr. Chen Lip Keong, a director and a major shareholder, as settlement to debts amounting to RM 322 millions. Similarly 339 millions shares valued at 11 sens were issued to FACB to settle Rm 37.7 millions of debt.
After the exercise, Dr. Chen Lip Keong has a direct interest in 4.29 billions (74.27%) shares and an indirect interest in 339 millions (5.87%) shares via FACB. For sure Karambunai Corp Bhd is meant for some BIG PROJECT soon, the visionary founder will not accumulate so much stock (over 75%) just for fun. Of course the director will not tell you what is in his mind, but one thing for sure he is NOT MAD to buy kbunai share at 11sens a share at year 2013 (now only 6 sens a share).
Kbunai total liability to total equity ratio reduced significantly after this exercise, 2013 (2.04 ratio) reduced to 2015 (0.70). It strongly suggests that the founder of Kbunai has the initiative to improve the company performance by reducing debt in huge amount. Just imagine in one year plus total liability ratio improves to healthy level (2.04 to 0.72). One thing for sure, this is NOT PN17 company.
Kbunai closed the week at 6 sens, which is 45% lower than the 11 sens issued to Dr. Chen and FACB in October 2013. PN 17 companies director confirm will NOT BUY BACK OWN SHARES AT A MUCH HIGHER PRICE………….DUDE
Who is Tan Sri Chen Lip Keong? “He is a very visionary businesmean and is always looking at ways to enhance his asset value,” says a source who has known Chen for years. Chen had foresight to enter Phnom Penh 20 years ago.
His attemps to list NagaCorp were initially rebuffed in Malaysia, Singapore and Hong Kong. “Chen has great determination and has gone through recessions and challenges. Imagine sitting for the same exam three times and failing to pass-you would be frustrated”, says the source commenting on the lengthy NagaCorp’s listing process.
NagaWorld, amazingly has 70-year licence running through 2065 that includes a 41-year monopoly status till 2035 within a 200km radius of Phnom Penh. IT is the only legalized casino to operate in the capital. NagaWorld has 172 tables and 1543 machines with 700 rooms. The company is building an extension, dubbed Naga2, that will make the property a truly integrated resort.
Naga2 is scheduled to open in 2017 and is expected to offer more than 1,000 hotel rooms and luxury suites, hundreds more gaming tables and machines as well as convention facilities, including a 4,000 seat theatre. Last year, NagaCorp posted net profit of US$136.1 mil on US$404.3 mil revenue. Revenue grew at a five-year compound annual growth rate of 21.85%.
For more detail story, please refer to the following link:
chiowminMr Tan also know Kbunai is very hard to turnaround...unless get the gaming license...which he proposed last few years but rejected...now he also wish the land & together with the hotel can someone buy over to solve his headache...
pvjsabahthey should get some big guys to commit.... just look at their neighbours Rasa Ria SHangrila..... just completed their new luxury wing Ocean VIew.......where are all you SIngaporeans you guys bought over Sutera.........this place is just waiting to happen. The infrastructure is ready......the land is lush and green......no amount of money can buy the pristine nature that is every ready there......
pvjsabahwas there last week....pretty amazing what they have there........ cant believe that its shares are worth so little....... has anyone else on this blog seen the place......?????
calvintanengLand is lush and green? Pristine nature that is ever ready there?
Kbunai is the Best Kept Secret in the World.
Last time Focal Aims' God forsaken Lands dropped to Rm5.00 psf. Now it's hot cakes.
Just watch Kbunai for the next decade or two. It might rival the very best on planet earth. Sydney? Florida?