Can-One Berhad (Can-One) is a Malaysia-based investment holding company. The Company, through its subsidiaries, operates in two segments: general cans, which is engaged in the manufacture and distribution of lithographed tin cans and plastic jerry cans, and food products, which is engaged in the manufacture and distribution of food products. Its subsidiaries are Aik Joo Can Factory Sdn. Bhd., which is engaged in the manufacture of lithographed tin cans and plastic jerry cans; Ajcan Sdn. Bhd., which is engaged in letting of landed property and property investment; Canzo Sdn. Bhd., which is engaged in the manufacture and trading of plastic jerry cans; Sanjung Nuri Sdn. Bhd., which is engaged in property investment; Newmarq Land Sdn. Bhd., Can-One International Sdn. Bhd., and Amber Alliance Sdn. Bhd., which are investment holding company. In November 2011, the Company's wholly owned subsidiary, Newmarq Sdn. Bhd., acquired Lumiera Corporation (Labuan) Pte Ltd.
Ironman7777Management is Yeo and Chee, but now just Chee alone? Also, why canone give up kianjoo easily after a long battle to secure the 32% stake? doesn't make sense for can-one to give up kianjoo just for cash. might as well didn't acquire it at the first place.
am surprise minority watchdog group has not pick up.
lcng123yes. it doesn't make sense canone give up kianjoo after a long battle in court. now they are major shareholder of kianjoo and kianjoo and canone can help each other in business. the dividend received from kianjoo (12.5sen/year) enough for canone to pay the interest for their debt (to acquire kianjoo).
lcng123for 9 month 2013, kianjoo contribute rm31.3mil (42%) out of canone's PBT of rm74.8mil. without contribution from kianjoo, profit of canone cut almost 50%. for the long term benefit, cannoe must not sell off kianjoo. kianjoo's value keep increasing.
cwl91just about one year+ ago, people also asked can canone buy kianjoo? it is negative, both are competing, don't add value and so on (see sapurakencana and kowchye commentators above). so perhaps they sell and make some money.
then now got commentators saying selling result in profit cut half, should not sell as kianjoo's adding value because share prices now higher. but future is not drawn in one direction only ie up, up, up.
so let's be honest la, ask yourself as an investor, having 100% hindsight, of course you cannot be wrong right? but we don't have benefit of hindsight ma. so how?
cwl91as a kianjoo shareholder, I would definitely vote for the disposal.
to be frank, i have a good run with kian joo. i also wish sometimes the party will go on. but you know what? if i did that, i wouldn't have sold my first property and use those money to roll into another investment. and from there, i buy and sell and try other investments. some go up, others go down. overall, i still gain. if i let sentimental feelings control me, i will be struck with my first property and only watch paper gain but zero money in my pocket.
now my house loan is effectively fully settled and i have other properties in my investment portfolio.
with certainty in gain, better to exit. don't put in sentiment and muddle the whole thing. nothing is always the same. things keep changing.
cwl91With the continued tapering concern, the outflow of funds is happening right now. Even kianjoo share prices came down to 3.16 right now. Why is kianjoo board still wasting time? Quickly give an answer and let shareholders take a vote on the proposal.
From the Edge Daily:
KUALA LUMPUR (Dec 16): The rate of outflow of foreign capital from Bursa Malaysia remained high last week with RM625 million last week, making it the 10th week running, according to MIDF Research.
In a note today, MIDF Research said this was the longest stretch of foreign selling activity this year.
In the last ten weeks, a total of RM5.2 billion net of foreign funds had left Malaysian equity, it said.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS KIAN JOO CAN FACTORY BERHAD ("KIAN JOO" OR "THE COMPANY") OFFER TO ACQUIRE ALL THE BUSINESS AND UNDERTAKING INCLUDING ALL OF THE ASSETS AND LIABILITIES OF KIAN JOO KIAN JOO CAN FACTORY BERHAD
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS Description KIAN JOO CAN FACTORY BERHAD ("KIAN JOO" OR "THE COMPANY") OFFER TO ACQUIRE ALL THE BUSINESS AND UNDERTAKING INCLUDING ALL OF THE ASSETS AND LIABILITIES OF KIAN JOO
We refer to the announcements made on 26 November 2013, 5 December 2013, 6 December 2013, 9 December 2013 and 10 December 2013.
On behalf of the Board of Directors of Kian Joo ("Board"), MIDF Amanah Investment Bank Berhad wishes to announce that the Board has deliberated and agreed to accept the offer made by Aspire Insight Sdn Bhd on 26 November 2013 to acquire the entire business and undertaking including all of the assets and liabilities of the Company.
buff-headanyone knows what happen to can-one? why dropping?