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.
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.
boonchaianyone knows what happen to can-one? why dropping?
LanceLondon Bridge is falling down, falling down, falling down. London Bridge is falling down, my fair lady.
LanceKUALA LUMPUR: Kian Joo Can Factory Bhd and Aspire Insight Sdn Bhd have extended the deadline to sign a definitive agreement and transaction documents from today to March 31. The extension comes three days after Kian Joo received a letter of intent from the Tokyo-listed Toyota Tsusho Corp (TTC) indicating its interest to buy a controlling 51% equity stake in the aluminium can manufacturer at a tentative maximum price of RM3.74 per share.
TTC’s tentative price is 13.3% higher than Aspire Insight’s offer of RM3.30 per share to buy all of Kian Joo’s assets and liabilities.
In a filing with Bursa Malaysia yesterday, Kian Joo said it and Aspire were “in the midst of finalising the definitive agreement and transaction documents and obtaining internal approvals in relation to them”.
On Jan 29, Kian Joo granted Aspire’s request to extend the deadline from Jan 31 to March 14 for the latter to complete its due diligence and for them to sign the definitive agreement.
The surprise offer from the Toyota group is perceived to have changed the ball game as there is now a better offer on the table for Kian Joo shareholders.
Kian Joo’s board of directors agreed to accept Aspire’s takeover offer on Jan 10. One of the terms of the offer is that Kian Joo cannot sell, offer to sell, or negotiate to sell any of its businesses and undertakings to any third party for six months from the acceptance date.
Considering that Toyota is offering to buy shares in Kian Joo rather than to buy its operations, the restriction may not apply to it, said its corporate finance adviser.
On Monday, TTC said in the letter that it intended to first commence discussions with Kian Joo on a memorandum of understanding, followed by due diligence. It maintains its right to recalculate the offer price of RM3.74.
Kian Joo’s share price climbed 6.2% to RM3.41 from RM3.21 the day after the announcement of Toyota group’s offer. The stock closed at RM3.33 yesterday.