KANGER INTERNATIONAL BERHAD
KLSE (MYR): KANGER (0170)
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Last Price
0.06
Today's Change
+0.005 (9.09%)
Day's Change
0.055 - 0.06
Trading Volume
1,505,500
IPO Info
File Name: KANGER-Notice of Prospectus.pdf Download
Discussions
15 people like this. Showing 50 of 32,337 comments
Base on my BRIEF study on the QR2 2024 of Kanger:
Summary:
The company
A: Sitting on negative reserve.
B. Recorded net loss for the last TWO consecutive quarters.
QoQ, revenue down and net loss widened.
C: Not a cash rich company.
D. Total assets > Total liabilities, Total current assets > Total current liabilities: Means still has a low indebtedness risk.
E. Has nil non-current liabilities: Means has more oppurtunity to take a loan to finance its future project / investment.
THE FINDINGS:
1. NTA 31 sen (down from 45.1 sen @ last QR1 2024).
2. NOSH 731.58 mil.
3. EQUITY
Share Capital RM 433,234,000
Reserves / (accumulated losses) (RM 206,530,000)
Shareholders’s equity RM 226,704,000
Non-Controlling Interest RM 0
TOTAL EQUITY RM 226,704,000
4. Cash and Cash Equivalent:
Cash and bank balances RM 560,000
5. Assets:
Current Assets RM 36,431,000
Non-current Assets RM 204,544,000
TOTAL ASSETS RM 240,975,000
6. Liabilities:
Current Liabilities RM 14,271,000
Non-current liabilities RM 0
TOTAL LIABILITIES RM 14,271,000
7. QR2 2024 results :
- Revenue RM 9,969,000 (down from QR1 2024 of RM20,691,000)
- Gross profit RM 1,985,000
- Net profit / (loss) (RM 1,464,000) (up from QR1 2024 loss of (RM382,000)
Note 1:
Revenue decrease by RM13.3 million in current financial quarter ended 31 March 2024 (“Q2 2024”) as compared to the corresponding quarter ended 31 March 2023 (“Q4 2023”) which was mainly due to significantly decrease in the sales generate from Sung Master Holdings Sdn Bhd on trading of building materials. Besides, Q2 2024 has recorded loss after taxation of RM0.7 million as compared to the profit of RM1.6 million in Q4 2023. This was mainly due to loss on disposal of motor vehicles which has contributed a total of RM1.1 million in current financial quarter.
Note 2:
The Group recorded loss after taxation of RM0.7 million as compared to profit after taxation of RM0.6 million in Q1 2024. The loss was recorded in Q2 2024 was mainly due to non-recurring expenses such as loss on disposal of motor vehicles of RM1.1 million.
Note 3: Prospects
????????
1 week ago
Remember this...?
WARREN BUFFETT >>. BE GREEEEEEEDY when others ARE RUNNIINGGG......$$$$$
1 week ago
MZM2511, if Im not mistaken, Kanger has 145m cash 3yrs ago,after right issue. Than the cash was used to buy Antara Genting condo. Now latest i read Kanger terminate the contractor who is supposed to build the foundation for the Genting condo project, after 3 yrs of awarding the project. Does that mean the condo foundation is never built? So happen to the 145m that was no longer in Kanger book?
1 week ago
Kanger acquires RM143m hillside property with funding from rights issue
By Cheah Chor Sooi
24/02/2021
in Markets
KANGER International Bhd through its wholly owned subsidiary, Kanger Ventures Sdn Bhd, has proposed to acquire 126 units of service apartments developed by Aset Kayamas Sdn Bhd in Genting Highlands for RM142.9 mil.
The apartment units are part of the Antara @ Genting Highlands project which comprises four blocks of 44- to 46-storey freehold serviced apartments totalling 1,460 units. So all Kanger cash of 145m gone into buying the antara genting. BUTT lately Kanger announced only buy 15units of Antara condo , so why suddenly 145m cash only buy 15 units? what happen to the balance 100m+ cash?
1 week ago
JJPTR... Don't talk nonsense.
1. Now latest i read Kanger terminate the contractor who is supposed to build the foundation for the Genting condo project, --- Answer... Are you sure the contract is supposed to build the foundation of ANTARA CONDO project?
2. BUTT lately Kanger announced only buy 15units of Antara condo...
My answer. Please notify your source. As I know, the company even propose to buy more condo @ their latest announcement about the Antara condo purchase.
1 week ago
@JJPTR.
Some details about the terminated contracts of contractors..
Is it the contract completely supposed to build Antara Condo foundation? If not, it's a false information created by YOU.
-----------
5. A Collaboration Agreement between Kanger Ventures and Multiple Novation, relating to a multiple constructions works.
Progress of the agreement:
a) Based on an announcement at BURSA dated 15 January 2021
The Board of Directors of Kanger International wishes to announce that its wholly-owned subsidiary, Kanger Ventures Sdn Bhd, had on 15 January 2021 entered into the following Collaboration Agreements.
a) Qbeez Holdings Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 6th July 2018 for construction of main building works of the project of development of three (3) blocks of affordable apartment on Lot 52957, Jalan Desa, Taman Desa, Mukim Kuala Lumpur, Wilayah Persekutuan (“Qbeez Project 1”);
b) Qbeez Holdings Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 28th December 2018 for construction of building and external works for the project of development two (2) blocks apartment on PT 15659, Jalan Indrahana 3, Mukim Petaling, Kuala Lumpur, Wilayah Persekutuan (“Qbeez Project 2”);
c) Lead Pinnacle Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 28th October 2019 for construction of piling and foundation works of the project of construction of a temporary gallery on PT 23923, (H.S.(D) 18603) Genting Highlands, Mukim Bentong, Daerah Bentong, Negeri Pahang (“Lead Project 1”);
d) Lead Pinnacle Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 7th July 2020 for construction of foundation and main building works for the project of a mixed development of two (2) blocks of service apartment on PT 23923, (H.S.(D) 18603) Genting Highlands, Mukim Bentong, Daerah Bentong, Negeri Pahang (“Lead Project 2”);
e) Deseo Engineering Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 13th April 2018 for construction of main building works for the project of a development of two (2) blocks of affordable apartments and two (2) blocks of apartment on Lot 55121, Jalan Jujur, Bandar Tun Razak, Cheras, Kuala Lumpur (“Deseo Project”);
f) Enduring Power Sdn Bhd and Kanger Ventures in respect of Letter of Award dated 1st June 2019 for construction of main building works for the project of a development of two (2) blocks of service apartment on Lot 1351 & 1377, Jalan Padang/Jalan Padang Walter Grenier dan sebahagian simpanan Jalan, Seksyen 67, Bukit Bintang, Bandar Kuala Lumpur (“Enduring Project”).
- Any approval required from the relevant authority and shareholders in a general meeting of the Company to undertake this collaboration herein contemplated;
- The Parties shall fulfill the above conditions within 90 (ninety) days from the date of these agreements or such extended date as shall be mutually agreed in writing by the Parties (Cut-Off Date).
1 week ago
BUTT lately Kanger announced only buy 15units of Antara condo..
....................
This 15 units Antara condo proposed to be bought is the additional units of condo.
https://www.malaysiastock.biz/Company-Announcement.aspx?id=1519668
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KANGER INTERNATIONAL BERHAD ("KANGER" OR "COMPANY") - PROPOSED ACQUISITION BY KIB GLOBAL RESOURCES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF KANGER, OF 15 UNITS OF SERVICED APARTMENTS LOCATED AT BLOCK A, ANTARA, GENTING HIGHLANDS, SITED ON A PIECE OF FREEHOLD LAND HELD UNDER TITLE NO. GRN 45572, LOT 43031, MUKIM BENTONG, DAERAH BENTONG, NEGERI PAHANG FROM THE DEVELOPER, NAMELY ASET KAYAMAS SDN BHD ("PROPOSED ACQUISITION")
Please be noted:
"The Developer has agreed to sell and Purchaser has agreed to purchase fifteen (15) parcels of units with vacant possession in the proposed Block A of the said Development more particularly described in “Annexure D"
1 week ago
@JJPTR
Look at this report:
Diversified into new construction business aimed at deriving
synergy with the property investment and management segment.
• Acquired 51% stake in building materials supplier, Sung Master
Holdings Sdn. Bhd. for RM94.8 million. Acquired 126 units of
service apartments at Antara @ Genting Highlands for RM142.87
million.
• One of the new subsidiaries, Kanger Medical International Sdn.
Bhd. is making inroads into the healthcare industry by sourcing for
face masks and Covid-19 vaccines.
Note: Please refer Kanger Annual Report 2023 - Page 6.
1 week ago
Dem....getting worst
GLOOOMY OUT LOOK for this Undisputed non stop loss making Cap Ayam Kanger
BEYOND REPAIR...
3 SEN IS COMINGG due to painful PP dilution
Very out of money Warrant WB to be COFFIN with exercise price Crazy 50 sen
1 week ago
roit!rotikong@
MZM always negative
,++++++++
Warren Buffett >> BE. GREEEEEEEDY 💪💪💪when
others are SHIVERING
Immediate TP 10 sen
1 week ago
MZM2511
Kanger was able to buy 143m worth of Antara Condo built by Chai Kin Kong, father of Chai Vun Chet who pass away not too long ago at age 46, was because of money raised from RI 2.8b shares @6c per share. The 145m money was visible in Kanger account for a while before it was used to buy up for the purchase. That was 3 years ago. Btw, is the Antara condo near completion? One thing obvious is after that 145m rgt purchase, Kanger cash had been below 1m for few qtrs, there were qtrly loses, how did Kanger manage to do another 15 new purchases recently?
1 week ago
@JJPTR (the naysayer)... You better search for the news yourself.
Changed the tune after been caught to be spreading the false information... Yeah
1 week ago
MZ, which part of what i wrote are false?
My worry is the 145m purchase is scaled down to 15 unit purchase. Your assertion is there is a 145m rgt purchase+15 unit new purchase. If so where does the money comes from siince Kanger made loses last few qtrs.
MZM2511
Kanger was able to buy 143m worth of Antara Condo built by Chai Kin Kong, father of Chai Vun Chet who pass away not too long ago at age 46, was because of money raised from RI 2.8b shares @6c per share. The 145m money was visible in Kanger account for a while before it was used to buy up for the purchase. That was 3 years ago. Btw, is the Antara condo near completion? One thing obvious is after that 145m rgt purchase, Kanger cash had been below 1m for few qtrs, there were qtrly loses, how did Kanger manage to do another 15 new purchases recently?
6 hours ago
MZM2511
@JJPTR (the naysayer)... You better search for the news yourself.
Changed the tune after been caught to be spreading the false information... Yeah
1 week ago
Sweating liao.......
The worst is yet to come....
Many especially Newbies in HOT SOUP ( Hot Tom Yam ) Now . Blame whom..?...That Boy laaa....that one laaa for MISLEADING you into this BOBBY TRAP....seems NO WAY OUT...BEHEADING IS NEXT..??
1 week ago
@JJPTR...
One thing obvious is after that 145m rgt purchase, Kanger cash had been below 1m for few qtrs, there were qtrly loses, how did Kanger manage to do another 15 new purchases recently?
----
This announcement is dated 7 November 2023
https://www.malaysiastock.biz/Company-Announcement.aspx?id=1519668
Still can't see any info about the completion of this proposed acquisition...
As per this announcement...
"The obligations of the parties under the Agreement are in all respects conditional upon the following being fulfilled on or before six (6) months from the date of the Agreement or such other extended as may be agreed between the parties (hereinafter referred to as the “the Cut-Off Date”):–
(a) Purchaser having obtained the approval of its shareholders at an extraordinary general meeting to be convened for the sale and purchase of the Purchaser Units. Within five (5) business days after the conclusion of Purchaser’s extraordinary general meeting, Purchaser shall obtain and forward to the Developer’s Solicitors three (3) certified true copies each of Purchaser’s members’ resolution authorising Purchaser to enter into the Agreement and its execution and performance of the Agreement and all the other relevant documents pursuant to the Agreement or otherwise pertaining to the transactions contemplated by the Agreement; and
(b) any approvals, waivers or consents from any relevant authority or parties as may be required by law or regulation or deemed necessary by the parties to facilitate the sale and purchase of the Purchaser Units (if required).
7.2
If any of the conditions set out in Clause 3A(1) are not satisfied by the Cut-Off Date (not due to a default of any party), then either party will be entitled to issue a notice of termination to the other party and thereafter whereupon the Developer shall refund all monies paid by Purchaser to the Developer for its account as part of the Total Consideration Sum free of interest within thirty (30) days from the date of notice of termination.
The Agreement shall become unconditional on the day upon which the conditions have been fulfilled in accordance with the provisions of the Agreement or on such other date the Developer and/or Purchaser confirm in writing that the conditions have been fulfilled, whichever shall be earlier (hereinafter referred to as the “Unconditional Date”)
1 week ago
OKU_2020 @Pon danman and JJPTR always come to "Goyang-Goyang".
Jom Dangdut... Ah Ah Ah
1 week ago
MrChin Williom@
Nono... All guy already cut lose runnn. .... Haha
-------
Cut your bird edi ?....Pity
Blame whom ..?... him laaa none others .....
.must THROWWWW shoes on him as a symbolic for misleading you into this painful BOOBBY TRAP..!
6 days ago
Oku.... Are you ok or not ????
I don't have buy this share la... Why you hit my ass???? Hahaha
6 days ago
BACK TO SQUARE ONE...?
Can't rule out this....
As the outlook is so GLOOOMY
BTW...OKU = ?
OKU = Otai Kuat UMNO = O K U😁
6 days ago
Posted by MZM2511 > 2 months ago | Report Abuse
Not necessary... It's up to the company's insiders objectives or depend on how they want to play a game. For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done. TAYOR.
6 days ago
Hmmm....BACK to SQUARE ONE ..?
Worrying trend
Be prepared for the painful PP dilution
3 sen for Mom Kanger , Coffin half sen for son WB ( extremely out of money ) with conversion price of Crazy 50 SEN
Good Luck my frens
5 days ago
rotikong@
MZM & OKU always negative
,++++++++
Warren Buffett >> BE. GREEEEEEEDY 💪💪💪when others are SHIVERING
Immediate Kanger TP 10 sen
5 days ago
@Joe
Look at this comment on Permaju..
Good123
Syer consolidation coming... 100:1---> rm4.50 hahaha
1 week ago
4 days ago
rotikong@
Both MZM & OKU always negative
,++++++++
Warren Buffett >> BE. GREEEEEEEDY 💪💪💪when others are SHIVERING
Immediate Kanger TP 10 sen
4 days ago
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