kahhoengHng33, I realize that the market sentiment is not good, actually kind of anticipating it a while back, which is why I hold mostly shares of companies with recently sold businesses, rich in cash or with pending sales of businesses, including Puncak, Hwang Cap, BJCorp and Oriental. Sigh...
Rich118Kahhoeng, I am not concerned about the current correction but rather see this a good accumulation opportunity to increase our stakes. I have had pleasant experience with CIHLDG a few years back when it sold it's prized jewel Permanis Sdn Bhd (Tropicana juice, remember) to a Japanese F&B co. People were concerned then how Datuk Johari Ghani utilize the cash proceeds. After distributing the first cash dividend, he returned most of the cash proceeds after it cannot find a good buisness within the specified period. People were throwing the shares then thinking that he will acquire biz that were not adding much value. At the same time, parties related to him kept acquiring the shares while ignorant retail investors were throwing the jewel shares. You can trace the history by checking from the Bursa announcement.
Bottom line question we must ask ourselves is that do you think TSR will be acquiring any biz at all cost to the extent of eroding the company value? Please remember he has the biggest stake with almost 43%! 冷眼 said for those who have done enough home work, one should know the 底线 .
Hng33, I do not think all vacant land are non-CA related. I suspect many of them are actually land where the WTPs are situated. This is the missing puzzle in my value calculation.
Will be nice if any who have insights can share their thoughts.
niceniceMy question is after the dividend pay out will the share price adjusted accordingly ? ...thanks in advance.
kahhoengrich, has I been less optimistic about Puncak, would have sold some around 3.6x and bought back with recent drop... I am concerned because I lost the opportunity to make some of late, sigh... Luckily, was able to sell Puncak @ 3.56 and buy Puncak-WB @ 2.49 today, kind of happy.
hng33It is interesting to note that Puncak and Kulim share many similarity
1. Both also sold major earning contributor 2. Both also intend to distribute special dividend (Puncak (RM 1 /share) vs kulim (78sen/share) 3. Both at same price now RM 3.38 4. Kulim want to use part of divestment proceed to venture big into oil and gas industry on top of its exiting remaining palm oil. On the other hand, Puncak intend to use part of the divestment proceed to venture big into palm oil industry on top of its exiting oil and gas business
hng33Almost wanted to buy Puncak today at 3.36, but due to a bit weak sentiment and keen selling volume still at high until last min, so still undecided.......But, will wait next week to examine Puncak share movement whether can stand above 3.35 with next critical support level at 3.30 first, then can decide re-enter more convincingly.