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17,228 comment(s). Last comment by tkl88 at Nov 25, 2020 7:47 AM
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Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > Apr 24, 2020 2:15 PM | Report Abuse

They have probably been a shareholder for quite a long while. And the share buy back scheme has pushed them into the limelight. They probably didnt buy a single share, but the buyback has increased their ownership of the company.

Neither good nor bad,

>>>>>>>


SHQuah https://www.bursamalaysia.com/market_information/announcements/company...

Name KIN FAI INTERNATIONAL LIMITED
Address Vistra Corporate Services Centre,
Wickhams Cay II, Road Town, Tortola,VG1110
Virgin Islands, British

Became a substantial shareholder by virtue of its existing shares held in the Company, where a total of 33,517,800 ordinary shares bought back by the Company and held as treasury shares as at 22 April 2020 was excluded in calculating the percentage of its shares held in the Company, which resulting its equity interest increased to 5.037%.

Direct (units) -26,687,499
Direct (%) - 5.037

Hi Philip,
Please advise ? good or bad ?
24/04/2020 8:33 AM


enigmatic [control your emotions, discipline your mind]
838 posts

Posted by enigmatic [control your emotions, discipline your mind] > Apr 27, 2020 8:02 PM | Report Abuse

@K-Den,
But if Tan Sri Tan & Pn Sri owns Kin Fai, shouldn't it be specified in the Bursa announcements, since it's related to them?
But from the article, Kin Fai does belong to them.


super_newbie
1175 posts

Posted by super_newbie > Apr 28, 2020 3:50 PM | Report Abuse

Let me guess, today - Insider: GEORGE KENT MALAYSIA BHD buyback 30,000 shares from 0.660 to 0.665 on 28-Apr-2020.


RainT
7498 posts

Posted by RainT > Apr 28, 2020 7:02 PM | Report Abuse

want to see the quarter result 1st

not sure will it look like shit or noT?


K-Den
675 posts

Posted by K-Den > Apr 28, 2020 7:12 PM | Report Abuse

rich people always have few shell company, I just hope the price don't like shit


m_aloha
431 posts

Posted by m_aloha > Apr 28, 2020 8:07 PM | Report Abuse

Construction biz resume..good for gkent


super_newbie
1175 posts

Posted by super_newbie > Apr 28, 2020 8:39 PM | Report Abuse

set a short term tp @ 97.5 sen, with assuming 0 eps and PE15 for next qr


jonbravo
426 posts

Posted by jonbravo > Apr 29, 2020 3:51 PM | Report Abuse

Sure win la this stock. Buy before some sifu recommend.


uniteen
96 posts

Posted by uniteen > Apr 30, 2020 10:35 AM | Report Abuse

i know philip is a strong proponent of gkent, but their share price seem to be stagnant for a few months now.


super_newbie
1175 posts

Posted by super_newbie > Apr 30, 2020 7:38 PM | Report Abuse

wow, QR released... Okay laa, still net profit of 6.77mil, above my expectation. Revised FY eps=7.99 with PE15, TP @ RM1.20


super_newbie
1175 posts

Posted by super_newbie > Apr 30, 2020 7:48 PM | Report Abuse

But revenue, profit and margin is in fact reducing. Un-realised loss on foreign exchange reported at RM1.21 million, hopefully MCO lift ASAP to strengthen the economy and Ringgit, then next QR should be recover.


mamatede
3454 posts

Posted by mamatede > Apr 30, 2020 8:09 PM | Report Abuse

slowly but surely, Gkent is slowly slipping to the drain...


TillyLovers
293 posts

Posted by TillyLovers > Apr 30, 2020 8:31 PM | Report Abuse

next QR should be worsen as covered MCO period.


v1vin
69 posts

Posted by v1vin > Apr 30, 2020 9:35 PM | Report Abuse

wake me up when this stock back to RM1, keeping in fridge dy


jonbravo
426 posts

Posted by jonbravo > Apr 30, 2020 9:53 PM | Report Abuse

Will win trading this stock


RainT
7498 posts

Posted by RainT > Apr 30, 2020 10:20 PM | Report Abuse

time come again to mega sales for GKENT


Witty
407 posts

Posted by Witty > May 1, 2020 12:23 AM | Report Abuse

Ouch... i thought now already low and it seem to have sale lower later.


TillyLovers
293 posts

Posted by TillyLovers > May 1, 2020 1:04 AM | Report Abuse

any dividend for this QR?


WheatStrawMaterial
13 posts

Posted by WheatStrawMaterial > May 1, 2020 1:09 AM | Report Abuse

In view of the current uncertain business environment, the Board of Directors does not propose paying a further dividend for the year under review.


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 1, 2020 5:44 AM | Report Abuse

This qr is for the 3 months until January 20. With the mrcb JV results, we already know what the expected numbers were going to be. The next quarter results will see acceleration to complete the 2 hospitals due to covid and some effect from mco. But by end 2020 we will see claim for LRT3.

For those who live in kl, you can easily scuttlebutt. Visit the lrt3 station sites. See the completion progress. Then ask yourself once this project is complete will gkent-mrcb get paid? If the answer is yes, then all you need to exercise is patience. If the answer is no, then you need to ask yourself why GKENT are not getting paid.

If the only reason why you are posting such things is because you are a short term trader and you cannot hold a stock longer than 1 year and average down. Then you need to find different stocks to invest in.

If you are that kind of pump and dump investor, maybe this will he

But remember that these kind of investments can only be done using small amounts, and only for short term trading profits. As for no dividends, I would rather my company buy back shares when it is first cheap like I did, so that my share of profit ( and I believe LRT3 profit is guaranteed) later on.,


30-Apr-2020 30-Apr-2020 Buyback 30,000 0.685 0.690 View Detail.
27-Apr-2020 27-Apr-2020 Buyback 30,000 0.660 0.665 View Detail
24-Apr-2020 24-Apr-2020 Buyback 30,000 0.660 0.665 View Detail
23-Apr-2020 23-Apr-2020 Buyback 20,000 0.670 0.675 View Detai
22-Apr-2020 22-Apr-2020 Buyback 20,000 0.680 0.680 View Detail
21-Apr-2020 21-Apr-2020 Buyback 30,000 0.675 0.680 View Detail
16-Apr-2020 16-Apr-2020 Buyback 20,000 0.675 0.680 View Detail
14-Apr-2020 14-Apr-2020 Buyback 20,000 0.665 0.665 View Detail
13-Apr-2020 13-Apr-2020 Buyback 100,000 0.655 0.670 View Detail
08-Apr-2020 08-Apr-2020 Buyback 70,000 0.660 0.665 View Detail
07-Apr-2020 07-Apr-2020 Buyback 25,000 0.630 0.635 View Detail
03-Apr-2020 03-Apr-2020 Buyback 30,000 0.570 0.580 View Detail
01-Apr-2020 01-Apr-2020 Buyback 160,000 0.550 0.590 View Detail
31-Mar-2020 31-Mar-2020 Buyback 51,000 0.540 0.555 View Detail
30-Mar-2020 30-Mar-2020 Buyback 60,000 0.535 0.540 View Detail
27-Mar-2020 27-Mar-2020 Buyback 190,000 0.540 0.585 View Detail
26-Mar-2020 26-Mar-2020 Buyback 20,000 0.535 0.545 View Detail
25-Mar-2020 25-Mar-2020 Buyback 25,000 0.500 0.520 View Detail
24-Mar-2020 24-Mar-2020 Buyback 20,000 0.495 0.510 View Detail
23-Mar-2020 23-Mar-2020 Buyback 155,000 0.475 0.490 View Detail
20-Mar-2020 20-Mar-2020 Buyback 230,000 0.490 0.530 View Detail
19-Mar-2020 19-Mar-2020 Buyback 440,000 0.435 0.490 View Detail
18-Mar-2020 18-Mar-2020 Buyback 655,000 0.475 0.510 View Detail
17-Mar-2020 17-Mar-2020 Buyback 260,000 0.485

How can so many people see the same thing and think different things? It all depends on your investing horizon, your ability to average and to understand the long term prospects of the company. I for one already know that Selangor is already running the smart meter trials to reduce NRW( none revenue water) with GKENT pilot.

https://klse.i3investor.com/servlets/pfs/120720.jsp
This is my portfolio, and you can see I have been averaging down on GKENT same as management in buying back gkent shares at low prices. My cost average now is 0.701. GKENT may be the smallest of my holdings in bursa, but it is one that was bought with the same level of consideration as my other long term holdings in QL, topglove, yinson.

All I can advise you is to learn how to enjoy paint dry. When I buy GKENT, it is not with the expectation of results this quarter or tomorrow or goreng next week. I only know a few facts. LRT3 completion is in 2024, somewhere between them GKENT will receive progress claims for works done on LRT3, vo on lrt2, the rail system on mrt2 and the 2 hospitals. I do not have an issue holding until 2024, and averaging down on the megasales, as it brings my cost down more and I expect the with all the buyback the share price and profit increase will go up much higher in the future, as they will be flush with cash again and the ability to complete more bigger jobs, especially after having the reputation of being the maincon of LRT3.

So, do you think gkent will never get another major contract again in the future? I find that highly unlikely. When that happens, then you will know the difference between investing and speculating.

>>>>>>>>>>


mamatede slowly but surely, Gkent is slowly slipping to the drain...
30/04/2020 8:09 PM


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 1, 2020 5:46 AM | Report Abuse

For those who are into pump and dump activities and short term profits, maybe speculating here will be more up your alley.

>>>>>>>>>>

https://klse.i3investor.com/m/blog/philip5/2020-04-11-story-h1505927167-My_Second_Pump_Dump_Article_How_to_pump_with_a_Conscience.jsp


mf
23396 posts

Posted by mf > May 1, 2020 5:57 AM | Report Abuse

Dow Jones 24,345.721 -288.14 1.17%
Nasdaq 8,889.55 -25.159 0.28%


SHQuah
4416 posts

Posted by SHQuah > May 1, 2020 10:49 AM | Report Abuse

NTA every quarter continue going up to 92.56 cents. Current price 68.5 cents is actually below actual worth. I don't mind if it goes private and pay us accordingly factor with goodwill around RM1.20.


Sslee
4193 posts

Posted by Sslee > May 1, 2020 12:59 PM | Report Abuse

Haha
Must ask Philip why this quarter end 31th Jan 2020 result soo poor?
Next quarter end 30th April 2020 sure red red.
Time to collect below 50 cents again.


SHQuah
4416 posts

Posted by SHQuah > May 1, 2020 2:56 PM | Report Abuse

In response to the COVID-19 pandemic, . The Group received on 19 April 2020 the Ministry of International Trade and Industry’s approval to resume its manufacturing activities during the MCO under strict labour movement conditions. This enabled the Group to reactivate its production line on 20 April 2020, albeit on a limited scale. Subsequently, the Government announced that companies in the approved economic sectors are permitted to operate with full workforce capacity and without limitation in operating time effective 29 April 2020, again under strict labour movement conditions. Whilst the Group is taking steps to return to normalcy, it will take time for the production to gradually reach full capacity.

Going forward, the Group will continue to exercise prudence in its business dealings, improving the
Group's financial and operational efficiency and drastically reducing costs. Whilst the Group expects some disruptions to its performance, the Group is cautiously optimistic of its prospects.


SHQuah
4416 posts

Posted by SHQuah > May 1, 2020 3:00 PM | Report Abuse

Engineering - The Group continued to execute Hospital Tanjung Karang and Hospital Endokrin Putrajaya.
The Group is concluding work on some variation orders for the LRT2 project. It is also continuing to
execute the LRT3 project, the contract for which was signed by its joint-venture company MRCB George Kent Sdn Bhd on 25 January 2019 for RM11.4 billion. Civil construction works were undertaken albeit at a reduced pace in the year under review. Progress should pick up in the coming months.


SHQuah
4416 posts

Posted by SHQuah > May 1, 2020 3:53 PM | Report Abuse

Q4'19 last quarter no dividend. Doesn't mean 2020 no dividend.


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 2, 2020 8:14 AM | Report Abuse

If you can collect it BELOW 50 cents next week, I will buy you bak kut teh. But short term traders and speculators rarely make good long term decisions. But since you can see the future, good luck to you.

>>>>>>>>>

Sslee Haha
Must ask Philip why this quarter end 31th Jan 2020 result soo poor?
Next quarter end 30th April 2020 sure red red.
Time to collect below 50 cents again.
01/05/2020 12:59 PM


Sslee
4193 posts

Posted by Sslee > May 2, 2020 8:35 AM | Report Abuse

Haha,
No hurry wait till the worst ever quarter end 30th april announce in july then my good friend i3lurker will short it below 45cents for me to collect.


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 2, 2020 11:38 AM | Report Abuse

if you look at the results, it is far from poor. The engineering division results have begun climbed, due to a pickup in work submission and claims from LRT3 subcontractors and others.

previous quarter - 39.8 million / 8.8 million profit (22% gross profit)
this quarter - 52 million / 12.5 million profit ( 24% gross profit)

The revenue and claims are steadily increasing, especially considerang work stoppage in the previous year for LRT3 redesign and redeployment.

yoy quarter - 79.6 million / 38.8 million profit ( 48% gross profit)
yoy quarter - 65.1 million/ 24.8 million profit (33% gross profit)

you may choose to see the worse in things, or you may choose to understand that it takes time for a 11.9 billion project to take time to restart and go back on the rails. Yes, GKENT costs have started to increase as they need to start payments and costs to their subcontractors, but on the same vein, those job completions will be followed by claim submissions that will increase over time.

Yes, for now covid19 and slow progress for LRT3 will be a downer. However, there is a given extension of work progress, and profit increase claims to continue upward trend in the months and years to come.


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 2, 2020 11:39 AM | Report Abuse

Don't worry, GKENT will not break its history of profitability just because SSLEE says so.

>>>>>>>

George Kent, meanwhile, updated that it has received the approval from the government to resume its manufacturing activities of its water meters since April 19.

“This [has] enabled the group to reactivate its production line on April 20, 2020, albeit on a limited scale,” it said.

Subsequently, the opening up of key economic sectors from April 29 under strict labour movement conditions has allowed the group's operations to return to normalcy, it said, but highlighted that “it will take time for the production to gradually reach full capacity”.


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 2, 2020 11:43 AM | Report Abuse

MCO started in March 18, and GKENT started work back in April 19, so just a month of production lost. No worries, GKENT is in a business model which is resistant to COVID- 19, aka their demand of water meters still outstrips supply, and this is merely an opportunity to build up inventory to sell at higher prices. FYI, unlike speculator SSLEE who has never used any of INSAS services and products, I have visited GKENT water meter manufacturing plant in puchong. It is quite automated, so I have no worries about GKENT products and its ability to execute in the long term.


mf
23396 posts

Posted by mf > May 2, 2020 11:49 AM | Report Abuse

Wall St slides as Trump warns of new China tariffs


super_newbie
1175 posts

Posted by super_newbie > May 2, 2020 3:43 PM | Report Abuse

with extension of short selling suspension, no possible for Gkent to water fall to below 50 sen like earlier March anymore.


Calvin Tan
2 posts

Posted by Calvin Tan > May 2, 2020 5:39 PM | Report Abuse

Hi Phillip, young graduate investor here. Big fan of your blogs. Your content is one of, if not the most level-headed and helpful content in i3.

I already have a sizable portion of gkent in my portfolio but I'm considering increasing my position throughout the covid period as prices have plummeted.

My one concern about gkent is that most of their profits seem to be generated from engineering rail division. And at the moment - they only have the LRT3 project in hand. What do you think about their prospects past 2024? Management has said they would want to prioritise metering income moving forward. Won't this dent their profits if no new engineering projects are won?

ie. I see the value in gkent, but what about the future growth prospects of the business


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > May 2, 2020 8:05 PM | Report Abuse

if you are in mechanical engineering like I used to be, you would be very familiar with the company Honeywell. As you can see from here,

https://finance.yahoo.com/quote/hon?ltr=1

honeywell is a very strong company with global reach and influence, and their R&D is also not too bad. As GKENT has signed a long term license agreement with honeywell to sell automated meter reading systems, NRW(non revenue water) and smart meter (IOT) systems.

https://www.thestar.com.my/business/business-news/2019/06/04/george-kent-banks-on-metering-business

http://www.georgekent.net/wp-content/uploads/2019/07/20190716-The-Sun-George-Kent-water-meter-biz-gets-Honeywell-boost.pdf

As such, let me just paraphrase what GKENT management has said about their water meter business.

They are currently doing 17% of earnings from water meter solutions. This amounts to historically 30+ million revenue/6 million earnings (20% of earnings), quarterly. basically what they are trying to do is increase this amount in the middle term with new systems to 60+ million revenue/ 15 million earnings (50% of earnings) quarterly.

How are they planning to achieve this?

In September 2019, the Selangor water authority contracted the group to supply, deliver and install 5,540 water meters fitted with the group’s smart metering solution for a six-month pilot test.

The pilot project’s delivery and installation are almost complete.

GKent noted that potential growth from smart metering is significant, given the group’s status as the first mover and market leader in the region.

I believe based on Honeywell history and GKENT history of execution, the increase to 26 territories, including 15 new territories in the Asia to supply the new volumetric meters in existing and new channel markets will make this very achievable. They will be producing cheaper and supplying to honeywell existing distributors and system integrators throughout the world at a far cheaper price than honeywell would be able to do producing it in USA and shipping it over.

So at these prices alone, if assuming GKENT doesn't win any new tenders, they will have 240 million+ in revenue after 2024, and 60 million in earnings, post LRT3.

Buying at 60+ cents a share, this is just a waiting game.

And since they have net 200 million in cash and 0.90 in asset values, I am very content to build my position in the long term.

But do you seriously think that GKENT with its cash position and job completion capability + experience in railway systems in LRT3, LRT, MRT2 and LRT2 vo, do you really think with the deluge of new railway projects being proposed (ECRL, penang rail, Singapore -Malaysia-Thailand rail), do you really think they will not be able to get even a single portion?

Plus, they also have a long experience in handing over water treatment plant systems (which I used to work with them on in Sarawak), hospital construction (sure to be a critical issue post Covid-19 recovery), and construction and engineering.

I think, just because there is no upcoming new projects doesn't mean they will not have any. It is more a case of having too much on their plate to digest (LRT3 + MRT2 + hospitals), and they want to complete a few before going full bore to get new exciting projects.

This is a wonderful opportunity for me to build my position in the long term, and of course when they announcce new project, it will be too late to buy cheap.


TillyLovers
293 posts

Posted by TillyLovers > May 3, 2020 5:17 PM | Report Abuse

Just my 2 cents opinion, I will sell tomorrow and buy back at a lower price. I have 500 lots, if able to sell at 68 cents and buy back at 65 cents, I can get 3 cents as dividend.


super_newbie
1175 posts

Posted by super_newbie > May 4, 2020 12:04 AM | Report Abuse

you might as well sell at 68 cent and buy back later at 80 cent lol


Smallretailer
149 posts

Posted by Smallretailer > May 4, 2020 9:48 AM | Report Abuse

Why ib says the tp would be 50 cents. No brainer, would even reach rm1 in not even 6 months


TillyLovers
293 posts

Posted by TillyLovers > May 4, 2020 9:50 AM | Report Abuse

Dear super_newbie, the price is 66 cents now, when can it be 80cents? thanks ya


SHQuah
4416 posts

Posted by SHQuah > May 4, 2020 10:47 AM | Report Abuse

Gkent cancel Q4'19 Dividend and use the money for more SBB to support the price from falling. So it won't go down too low. Don't worry. If goes down time to buy more.


super_newbie
1175 posts

Posted by super_newbie > May 4, 2020 5:07 PM | Report Abuse

Dear TillyLovers, so did you manage to sell a 68 cent? congratz if you did :))


super_newbie
1175 posts

Posted by super_newbie > May 4, 2020 5:09 PM | Report Abuse

Those IB seem look down sales on water meter due to political changes.


Sslee
4193 posts

Posted by Sslee > May 4, 2020 5:12 PM | Report Abuse

RHB-OSK and HLG both SELL call! TP 50 cents.


jackfruit
435 posts

Posted by jackfruit > May 4, 2020 6:30 PM | Report Abuse

Your believe what IB write not me. They are only good for storey telling.


jonbravo
426 posts

Posted by jonbravo > May 4, 2020 7:04 PM | Report Abuse

Sure win this stock la.


super_newbie
1175 posts

Posted by super_newbie > May 4, 2020 11:54 PM | Report Abuse

not believe at all lol... they are double faced lol


RedEagle
3090 posts

Posted by RedEagle > May 5, 2020 6:16 AM |

Post removed. Why?


JayC88
733 posts

Posted by JayC88 > May 5, 2020 2:51 PM | Report Abuse

slight jump wo suddenly


super_newbie
1175 posts

Posted by super_newbie > May 5, 2020 3:05 PM | Report Abuse

wow huge volume... Dear TillyLovers, so did you manage to sell a 68 cent?

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