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2,721 comment(s). Last comment by Diamond7 at May 15, 2021 12:18 PM
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leslieroycarter
5777 posts

Posted by leslieroycarter > Apr 23, 2014 3:11 PM | Report Abuse

Keck seng is not the share for contra playing coz normal buy n sell need a min 9-10 cts , so the only way is to go for long and setting your target of affordable margin ! Looking at today's price , u just can't make anything if u opt to buy n sell and ending up paying brokerages only, nothing gain!


thteh
104 posts

Posted by thteh > Apr 23, 2014 3:31 PM | Report Abuse

Don't forget the structured warrants issued by Maybank investment bank maturing in Nov. 2014 has exercise conversion ratio of 15:1 and exercise price of MYR 7.65 estimating KSeng to be around RM 10. The bank must be that confident that KS would be worth that price or more.


leslieroycarter
5777 posts

Posted by leslieroycarter > Apr 23, 2014 3:42 PM | Report Abuse

forget about call warrants either CA,CB or CC , all will be wiped out totally coz no buying n selling done for so long.....


iafx
4632 posts

Posted by iafx > Apr 23, 2014 3:47 PM | Report Abuse

that part hard to say... as v knew, possibility of distribution (div, share etc) is very high for kseng, the underlying price will push sw price to sky high if so. anyway, totally agree kseng is to hold, cannot do short term, no point.


SUPERDADDY
400 posts

Posted by SUPERDADDY > Apr 23, 2014 4:09 PM | Report Abuse

Happy to know that more forummers are actively involved in this counter now. Feel like a lone ranger previously talking to my ownself while promoting this gem when it was below RM7.00 level for quite a while. Hope everyone will get a slice of the gain in its share price whichever it is either mother, CB or CC. Cheers!!!


SUPERDADDY
400 posts

Posted by SUPERDADDY > Apr 23, 2014 4:44 PM | Report Abuse

There's a possibility that the Board may decide to take the company private in view of the huge value of its assets. Cheers!!!


ykloh
380 posts

Posted by ykloh > Apr 23, 2014 6:55 PM | Report Abuse

KS has good assets but poor management. The controlling shareholders can do the minority shareholders a great favour by privatising the co.


eht6769
711 posts

Posted by eht6769 > Apr 23, 2014 7:09 PM | Report Abuse

6.5 cent single tier final dividend declaration ,,


Wowalk
110 posts

Posted by Wowalk > Apr 23, 2014 7:31 PM | Report Abuse

Is that a good dividend?


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 23, 2014 7:53 PM | Report Abuse

Including an interim dividend of 5 sen gross, the total dividend for the year amounts to 11.5 sen which translates to a dividend yield of only 1.5%. Do you think this is good? Maybank's dividend yield exceeds 5%. May drop towards RM 7 again due to the poor dividend payout.


tonylim
4784 posts

Posted by tonylim > Apr 23, 2014 8:27 PM | Report Abuse

Gek sim


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 23, 2014 10:06 PM | Report Abuse

Keck Seng made 41.31 sen last year but only proposes to distribute 10.25 sen net dividend (5 sen gross and 6.5 sen net), a payout rate of less than 25%. More than RM 111 million of Keck Seng's net profit last year would now become its cash reserve.


iafx
4632 posts

Posted by iafx > Apr 24, 2014 9:46 AM | Report Abuse

c the power of div. anyway, also buang and move on. maybe 1 day come back again ;)


SUPERDADDY
400 posts

Posted by SUPERDADDY > Apr 24, 2014 10:26 AM | Report Abuse

Looks like mostly buying in anticipating for an announcement of huge dividends but many felt let down by the meagre sum. For Keck Seng, in the last 10 years they've never issued any exceptional dividend. What we are buying now is for the value of its highly undervalued stocks and this is medium to long term. Cheers!!!


leslieroycarter
5777 posts

Posted by leslieroycarter > Apr 24, 2014 11:12 AM | Report Abuse

bot out the BOD is the only solution.....I think 6.5 cts is much better than 6 cts....lo


stockoperator
996 posts

Posted by stockoperator > Apr 24, 2014 11:14 AM | Report Abuse

it partly explains market has amazing ability to discount unutilised asset on hand. The meaningless share buyback has no effect on profit growth/core business efficiency/business prospect. Sad. It is like chopping my hand off.


iafx
4632 posts

Posted by iafx > Apr 24, 2014 11:17 AM | Report Abuse

without strong div, at $7.x there r many other options around, paper value doesn't help anyone... simply not worth holding it, better of materialize the capital gain.

cash is king.


cefiro22
381 posts

Posted by cefiro22 > Apr 24, 2014 11:31 AM | Report Abuse

re "privatizing" as suggested by "ykloh" April 23..>>>>No!...we minority shareholders will lose out! ASAS DUNIA and YHS are examples for me. Keck Seng might very well have that plan in mind, so what steps can we take to get a fair value of our investment in Keck Seng should BOD decides to privatize? Not surprising if that is the ulterior motive of the BOD to eventually privatize the Company, their strategy is to "suppress" the quoted share value with such pittance dividends.


stockoperator
996 posts

Posted by stockoperator > Apr 24, 2014 11:34 AM | Report Abuse

To the Directors: All small shareholders are all waiting for decent handout to ease their living expenses. The Div means a lots to people on the street. A more decent one please.

Company unwillingness to spend will self-fulfilling the slow growth prophecy on the whole.


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 24, 2014 11:42 AM | Report Abuse

Small investors have been short-changed but the company benefits tremendously. Very, very few medium sized companies are able to add over RM 100 million to their cash pile every year.


leslieroycarter
5777 posts

Posted by leslieroycarter > Apr 24, 2014 11:43 AM | Report Abuse

the likely tendency is keck seng may lost big chunks of lands if the proposed bridge is to be built next to its lands .....acquisition and alienation of lands under present Land Code are enough to make keck seng poor and dry! Ask those peoples affected who had their lands acquired in the making of pasir gudang will be a very good show examples...


12wells70palms
12 posts

Posted by 12wells70palms > Apr 24, 2014 12:36 PM | Report Abuse

As I was saying previously, that the management runs this ship as if it belongs to the family. they r not interested in rewarding minority shareholders. To them it does not matter whether they pay misery or generous dividends or revalue the company's assets as long they just sit there. This has always been their modus operandi right through.


eht6769
711 posts

Posted by eht6769 > Apr 24, 2014 2:33 PM | Report Abuse

waiting privatise


eht6769
711 posts

Posted by eht6769 > Apr 24, 2014 2:56 PM | Report Abuse

management waiting a good time to priviatise it....Untill Ho's family 50+ % reach on centain ...call privatize.. for small shareholders dont simply sell on market


SUPERDADDY
400 posts

Posted by SUPERDADDY > Apr 24, 2014 2:57 PM | Report Abuse

Congrats to those who have made some quick meaningful gains during the recent runs but to those who are still holding, no worry, it will be back. Cheers!!!


leslieroycarter
5777 posts

Posted by leslieroycarter > Apr 24, 2014 3:22 PM | Report Abuse

previous buy back at 7.46....
Total Share issued :361.477 mi
@32% share holdings:115.67 mi
@RM 8.00 purchasing price =RM 925.38mi
=less than RM 1 Billion
To take over Keck Seng , the balance of 245.807 x RM 8.00 =RM 1966.456 mi Approx < 2 Billion
So, take over kseng should be less than RM 3 Billion
Imagine RM 3 Billion = Assets worth more than RM 20 Billion ! Is a big bargain of the year in Bursa....


eht6769
711 posts

Posted by eht6769 > Apr 24, 2014 3:43 PM | Report Abuse

可能大股东在计划中。。。。小股东们。要‘忍’


eht6769
711 posts

Posted by eht6769 > Apr 24, 2014 3:54 PM | Report Abuse

privitization can be anytime....as long 大股东 has certain confident to delist kseng.. Even may result good will not has any surprise...


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 24, 2014 4:04 PM | Report Abuse

leslie, If you want to take over Keck Seng, the asking price is RM 30 per share. If the company wants to privatize it, the offer price to small shareholders would be less than RM 10 per share.


stockoperator
996 posts

Posted by stockoperator > Apr 24, 2014 4:08 PM | Report Abuse

I know lots of people here would choose cash rich/asset rich company.

BUT Please conduct Business with Higher law in mind that is fairness and integrity and principal centered and take into account of business partners wellness and surely always think of of small shareholders if not prioritizing.

Should not the rich always have concern on the poor? This is the least they can do.


bjaya
267 posts

Posted by bjaya > Apr 24, 2014 8:20 PM | Report Abuse

BOD perhaps adopt what Warren Buffet once said ,he preferred not to receive any dividend so that it could be ploughed in for further value creation. Should we buy that ?


thteh
104 posts

Posted by thteh > Apr 24, 2014 11:09 PM | Report Abuse

If they use liquid cash for value creation it's alright but presently the BOD is having poor utilization of cash, earning pittance interest hoarding it in bank, they have not acquire anything for sometime now.


iafx
4632 posts

Posted by iafx > Apr 25, 2014 9:55 AM | Report Abuse

all go to sab and hapseng already, better still


eht6769
711 posts

Posted by eht6769 > Apr 25, 2014 11:09 AM | Report Abuse

SAB ..LAND worth RM35 after ECOWORLD invest Shah Alam, Kseng LAND price worth RM20? Also Mahsing & EcoWorld invest Kota Masai.? Y no body discover the value. Dont let Major Holder privatise it...


eht6769
711 posts

Posted by eht6769 > Apr 25, 2014 12:03 PM | Report Abuse

BOD too old fashion thinking...want keep $$ for his own 3rd generation ....spend ....dont reward to shareholder .... Not like public bank boss steady to distribute earn reward royal shareholder


iafx
4632 posts

Posted by iafx > Apr 25, 2014 3:13 PM | Report Abuse

checkout SBAGAN, only half of KSENG price but net asset per share is $6.49, net cash $2 per share!


greatfunds
38 posts

Posted by greatfunds > Apr 25, 2014 7:53 PM | Report Abuse

Dear KS Minor Share Holders: KS market capital value hit its lowest at only RM270M during the peak of SARS 2003 , it's market today is RM26B . Almost 10 fold from the lowest it was 11 years ago . Do remember, it has never demanded a single cent from its share holders for any cash call [right issues; warrants or loan debentures] . This 10 X appreciation is pure net .


greatfunds
38 posts

Posted by greatfunds > Apr 25, 2014 8:00 PM | Report Abuse

Correction: KS market cap today RM2.6B ! KS's closet peer Oriental Holdings Bhd had recorded the lowest market cap the same period at RM17B VS its market cap today at RM5B ! Having appreciated less than 3 X range.


greatfunds
38 posts

Posted by greatfunds > Apr 25, 2014 8:16 PM | Report Abuse

KS comparative appreciation in net share price value over that 11 years is even better than I O I (5X) and the Public Bank (6X) !


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 26, 2014 11:26 AM | Report Abuse

Keck Seng's earnings this year should improve further from last year's 41.3 sen a share, judging from the booming property market in Johor Bahru. I think it is fairly valued at RM 7 per share but Keck Seng's share price could be re-rated on day by investors, you never know. Land is getting more and more scarce in JB. It is illogical to have a book value of several thousand ringgit for plantation land in JB.


prudentinvestor
1369 posts

Posted by prudentinvestor > Apr 30, 2014 8:16 PM | Report Abuse

When Keck Seng went up strongly early last week, this forum was flooded with comments. After Keck Seng has dropped back to its pre-rally level and becomes stagnant again, every one becomes quiet. You won't go wrong by investing in a company with large land banks because land price will always go up and rarely comes down.


stockoperator
996 posts

Posted by stockoperator > May 1, 2014 11:28 PM | Report Abuse

Better value the company based on its core Business competency.


cefiro22
381 posts

Posted by cefiro22 > May 1, 2014 11:51 PM | Report Abuse

Better still if the Company will announce a policy of what percentage of it's annual net profit it will declare as dividends. Is it asking too much to get the Company committed to this undertaking?


stockoperator
996 posts

Posted by stockoperator > May 1, 2014 11:52 PM | Report Abuse

Just study the Basic Earning/Revenue of past 10 years. What is your conclusion?


iafx
4632 posts

Posted by iafx > May 2, 2014 10:51 AM | Report Abuse

at $7 there r many options, say hapseng consolidated has 50% div policy (see annual report). kseng not going anywhere unless new and strong catalyst appear.


stockoperator
996 posts

Posted by stockoperator > May 2, 2014 11:51 AM | Report Abuse

just Look at the Revenue for example for past 10 years. Are they interested in doing Business? It does not look like they are very smart in investment either. What the.......?


iafx
4632 posts

Posted by iafx > May 2, 2014 12:09 PM | Report Abuse

not quite, kseng is doing very well in their biz. but v didn't buy kseng to see how they earn big and live in big bunglow, if the mgmt. not interested to share their success (which uses our $ to achieve), dump and move on - as simple as that.


cefiro22
381 posts

Posted by cefiro22 > May 4, 2014 8:21 AM | Report Abuse

Let us look back 10 years ago for those who have invested in Keck Seng in 2003. Is 10 times capital gain in price a good return in this case?


Ben Gan
107 posts

Posted by Ben Gan > May 4, 2014 8:39 AM | Report Abuse

The company has plenty of cash, over RM700 million, but don't know what to do with it. It should buy back its own shares and distribute them to the shareholders. The problem with KSeng is that it does not have a heart for the minority shareholders.


prudentinvestor
1369 posts

Posted by prudentinvestor > May 4, 2014 4:01 PM | Report Abuse

cefiro22, Keck Seng dropped to below RM 1.20 per share in 2003. Any one who had bought Keck Seng at RM 1.20 per share then and kept until 5 months ago and disposed of at RM 7.95 per share would have reaped over 1100% return, including the dividends you received over the years. It is almost 25% compounded return every year. Those who had invested in Keck Seng at below RM 4 per share about 18 months ago and sell at RM 7 now would have realized a capital gain of over 75%, excluding dividends. Keck Seng has net cash of over RM 920 million today.

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