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4.60   -0.01 (0.22%)  4.59 - 4.61  39,100
2,645 comment(s). Last comment by prudentinvestor at Dec 20, 2019 5:00 PM
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MG9231
550 posts

Posted by MG9231 > Jan 7, 2019 3:48 PM | Report Abuse

Keck Seng’s major shareholders will privatize the co at lowest possible price after they acquire enough from market. They are the selfish major shareholders n like Damian n Selagor Property BHD, they will not offer much premium . I attended one of its AGM many years ago n proposed to utilize tax credit available (more than $100m)before commencement of Single tier tax system. If not the tax credit will just forfeited by our government. The major shareholders refused outright saying cash meant for other investments if arise. I told them to look after the interest of current shareholders rather than let government forfeiture. If investment opportunity is available, co can always make a call for right issue or something, they rejected me outright.


fourM
179 posts

Posted by fourM > Jan 7, 2019 4:54 PM | Report Abuse

@MG9231, because They are foreigner, they were not gain any advantage from tax credit via dividend distribution. believe that was why they did not did that for other minority shareholders, and prefer keep cash for "OTHER BIGGER OPPORTUNITY" which they will benefit as well.


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 8, 2019 9:58 AM | Report Abuse

Kseng major shareholders tried to block others from buying the stocks at the current undervalued level. Whenever we place one order to buy, they'll try to place another orders jz one or 2 bids above the buyer to prevent this valuable shares from falling to other buyers. Cheers!!! More good news coming.


fourM
179 posts

Posted by fourM > Jan 8, 2019 10:18 AM | Report Abuse

then, if want to buy, don't Q, direct buy the 1st best selling price so they have no way to block


Jonathan Keung
1979 posts

Posted by Jonathan Keung > Jan 8, 2019 10:22 AM | Report Abuse

Keck Seng controlling shareholders ( Ho family ) never paid minority shareholders with the tax credits the previous Financial Year ( and let the tax credit burned )


MG9231
550 posts

Posted by MG9231 > Jan 8, 2019 6:33 PM | Report Abuse

Yes, a listed co not taking care of minority shareholders is a lousy co n unless it offers to take it private , yet don’t know when?
Moreover, notice directors fee getting higher recently, major shareholders said cash was meant for future new investments, .... they slowly sapu it...


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 10, 2019 6:40 PM | Report Abuse

Continuous buying by the main shareholders since the last 2 to 3 months.Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 15, 2019 12:24 PM | Report Abuse

Happy to see that more buyers on the q currently. Cheers!!!


cefiro22
341 posts

Posted by cefiro22 > Jan 15, 2019 4:58 PM | Report Abuse

Also first time ever to claim top gainer in 11th position for +12 sen gain at 4.32 at close....hopefully another SPB in making.


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 15, 2019 5:37 PM | Report Abuse

Has been quite a while since it last holding on to its gain. Most of the time is jz one day affair.Hope and wish that it will continue to sustain its gain. Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 16, 2019 9:30 AM | Report Abuse

KECK SENG! HENG! ONG! HUAT ....ahhh!!! CHEERS!!!


Diamond7
1188 posts

Posted by Diamond7 > Jan 16, 2019 6:51 PM | Report Abuse

Yes! Cheers!
KSeng moving up higher n higher each day! Will wait patiently.....
If privatetise... GOOD!
If give bonus.... EXCELLENT!!!


pandaking2828
4 posts

Posted by pandaking2828 > Jan 16, 2019 6:51 PM |

Post removed. Why?


SUPERDADDY
397 posts

Posted by SUPERDADDY > Jan 22, 2019 5:47 PM | Report Abuse

cheers!!! go!go!go!


chcheah
21 posts

Posted by chcheah > Jan 23, 2019 6:53 PM | Report Abuse

no volume


fourM
179 posts

Posted by fourM > Feb 9, 2019 7:33 PM | Report Abuse

http://www.theedgemarkets.com/article/wisma-genting-sale

Wisma Genting up for sale at RM500 million or RM1,222 psf.The property sits on a 42,410-sq ft freehold parcel and has a built-up of 678,632 sq ft with a net lettable area of 409,084 sq ft. by Theedgemarkets on January 26, 2015

Menara Keck Seng (GPS: 3.14781, 101.715) is a 33-storey high-rise office block on Jalan Bukit Bintang in downtown Kuala Lumpur. Completed in 1997, it offers approximately 275,000 square feet of lettable space.

based on the valuation of RM1222/ lettable sq ft on January 2015 for Wisma Genting. Menara Keck Seng with book value at RM 56,019,000 may value at atleast RM336,050,000 (275,000 lettable sft x RM1222/sft) which means the building is atleast under value by RM280,000,000 or RM0.76 per shares (total share issued 361,477,147 including of tresury shares)


hhtyms
15 posts

Posted by hhtyms > Feb 10, 2019 12:03 AM | Report Abuse

Dont be happy counting your chicken before it is hatched!!! Looks like privatisation soon for KSM.


fourM
179 posts

Posted by fourM > Feb 10, 2019 1:10 AM | Report Abuse

So as minority holder, it is good to know the fair value of the company, when the privatisation offer in place, we know what value to accept


MG9231
550 posts

Posted by MG9231 > Feb 10, 2019 5:56 AM | Report Abuse

Same with Damian n Selagor Properties, will privatize with minimum premium as major shareholder is not generous n care for minority shareholders.


fourM
179 posts

Posted by fourM > Feb 10, 2019 9:46 AM | Report Abuse

If all minority plus some of the 30 largest shareholder stand together, we shall be able to reject the unfavour privatisation offer.


banker33
427 posts

Posted by banker33 > Feb 10, 2019 9:49 AM | Report Abuse

Stingy company, directors all to themselves? Land now so valuable but no revaluation for so many years already, if only they revalue the land.


fourM
179 posts

Posted by fourM > Feb 10, 2019 10:08 AM | Report Abuse

There is a reason for not revalue the land and properties, unless necessity arise because the revaluation cost is very high. And once start revalue company properties, the revaluation process must conduct on periodical basic as per standard/ authority requirement, so the recurring cost to company will be very high, as minority I will not suggest to do so as it may harm our interest as well. But what I emphasise is, as a minority we all have to know the fair value of the share on our hand to avoid and reject the unfavour privatisation offer


cefiro22
341 posts

Posted by cefiro22 > Feb 10, 2019 10:18 AM | Report Abuse

The Directors/The Ho Family has been slowly buying the shares for their own portfolio years back and most recently from just under RM4/- to the price up to today's level. This Company has enough cash to buy back the shares so we minority will also benefit...why not?

https://klse.i3investor.com/servlets/stk/annchsh/3476.jsp


fourM
179 posts

Posted by fourM > Feb 11, 2019 10:13 AM | Report Abuse

Ho Family continue buying because they well know the value of the company, slowly buy can buy at very very cheap price, if buying fast would push up the price


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 11, 2019 11:02 AM | Report Abuse

CHEERS TO ALL PATIENT HOLDERS!!! THE BEST IS YET TO COME!!! HENG ONG HUAT .......AHH!!!


fourM
179 posts

Posted by fourM > Feb 11, 2019 11:48 AM | Report Abuse

Huat Ah SUPERDADDY


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 11, 2019 12:30 PM | Report Abuse

Jz nibble bit by bit at current level so as not to miss the boat in case there's any Corporate exercise. Cheers!!!


fourM
179 posts

Posted by fourM > Feb 11, 2019 4:15 PM | Report Abuse

no selling force at all...


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 11, 2019 4:29 PM | Report Abuse

Hopefully its all the way up without turning back.Cheers to all existing holders! Kseng!Go!Go!Go!


Diamond7
1188 posts

Posted by Diamond7 > Feb 11, 2019 8:36 PM | Report Abuse

Wa!
Moving up steadily!
Hooray!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 12, 2019 10:27 AM | Report Abuse

Up!Up! and Away! Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 13, 2019 1:03 PM | Report Abuse

Slight weakness towards yesterday's closing.Hopefully will come roaring back very soon. Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 18, 2019 5:29 PM | Report Abuse

Looking good. Plenty of support at RM4.75 level. Cheers!!!


Diamond7
1188 posts

Posted by Diamond7 > Feb 18, 2019 9:22 PM | Report Abuse

Yes!
Plenty of buyers at 4.75
Brewing?
Waiting for good news!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 19, 2019 10:23 AM | Report Abuse

RM4.80 level touched. Hope it can be sustained.Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 19, 2019 12:55 PM | Report Abuse

Slight resistence at RM4.80 level. Cheers!!!


cefiro22
341 posts

Posted by cefiro22 > Feb 19, 2019 4:21 PM | Report Abuse

dat is part of any trading process, no worry, a block buyer for 100 lots parked to buy at 4.79 n 2 lots to sell at 4.81 sen. Looks promising heading to break 5/-


prudentinvestor
1282 posts

Posted by prudentinvestor > Feb 19, 2019 6:00 PM | Report Abuse

If the directors of Keck Seng really want to take the company private, they have to offer at least RM10 a share to make the exercise a success.


fourM
179 posts

Posted by fourM > Feb 20, 2019 12:34 PM | Report Abuse

Company have a piece of freehold land at Taman Daya for Development of residential & commercial units, size at 63.648 acre / 2,772,512 sft, 13 km north-east of Johor Bahru (near Kampong Baru Kangkar Tebrau book value), book value at RM 3,795,000 or RM 1.369/sft. which is 18th April 1980 valuation.

referring to "Financial Report 2018" of Scientex Bhd the company have 3 lot of freehold land held for mix development located at Pulai & Kulai size range from 121 acres to 335 acres valuation in 2017 & 2018 from RM20/sft - RM24/sft

if take the lower price at 15% discount which is RM17/sft for Taman Daya Land
the market value shall be RM17 x 2,772,512 = RM 47,132,704; then the land is under value by RM 43,337,704

Any Sifu here familiar with land value at Johor, can you provide me land's value indication at/near Pasir Gudang, Kangkar Pulai and Tanjong Puteri?

above is my personal calculation, just for reference only, may out of range of Market value at Taman Daya area. correct me if you have more accurate information

tqvm


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 20, 2019 5:23 PM | Report Abuse

Upon reviewing agri land for sales , Kangkar Pulai priced at betw RM32 to RM36 per sq ft while Pasir Gudang agri land is between RM45 to RM48 per sq ft. All depends on accessibility and location. Cheers !!!


fourM
179 posts

Posted by fourM > Feb 20, 2019 6:27 PM | Report Abuse

@SUPERDADDY SIFU: Thank you very much for above information

based on the information provided :

The Land located at Bandar Baru Kangkar Pulai held for Development of residential & commercial units including area planted with oil palm. The 99 years lease expires in 2102, land size of 555 acres carrying book value of RM 88,365,000 (last valuation date-18/4/1980) or RM3.655/sft can have market reference value at RM22.40/sft (30% discount from the lower market indication price of RM32/sft). as a result, this piece of land easy undervalue by RM 453,172,920 [(RM22.40 x 555 x 43560) - RM88,365,000]


the land at Tanjong Puteri Resorts held Development of residential & commercial units including area planted with oil palm, size 613 acre with book value RM21,273,000 or RM0.797/sft (last valuation date-18/4/1980) can apply RM31.50 / sft (30% discount from the lower of RM45-48/sft) can have market reference value at RM 841,121,820, or undervalue by RM 819,848,820


Tanjong Puteri Golf Resort, 54 holes golf course clubs and other recreational facilities, size 513 acre, freehold land, carrying book value at RM88,398,000 or RM3.956/sft. can have market reference value at RM703.907,820 (RM31.5 x 513 x 43560). undervalue by RM 615,509,820 (RM703.907,820 - RM88,398,000)

above three lot of land estimated undervalue by RM 1,888,531,560 (RM453,172,920 + RM819,848,820 + RM615,509,820)


Including below three properties which I posted early, total undervalue amounting to RM2,611.869,264 or RM7.226 per share

1.2485 hectares & 820 hectares Palm Oil Estate under value by 400 million

2.Menara Keck Seng under value by RM280,000,000

3.Taman Daya under value by RM 43,337,704


to be continue on 23 Storey building known as Regency Tower (76 units luxury apartments) with as annexed 3 storey car park (108 bays) and other facilities.


Remark : Dear all Sifu, please correct me if Im wrong, as i myself also can not believe the "AMOUNT"


prudentinvestor
1282 posts

Posted by prudentinvestor > Feb 20, 2019 9:13 PM | Report Abuse

fourM, Keck Seng's 3305 hectares of oil palm estates are worth at least RM 3 billion, assuming RM 400,000 per acre. It also has hotels in Hawaii, New York and Toronto, 8,000 ft2 of office space in Singapore and other minor properties. If all these assets are to be revalued, the company is worth at least RM 20 a share.


fourM
179 posts

Posted by fourM > Feb 21, 2019 7:26 AM | Report Abuse

@prudentinvestor, yes valuation/fair value per share is approx RM20. I just try myself to identify and break the RM20 in details, so the RM20 per share is more convincing. Thank for your supporting comment on RM20per share.....yeh ... Cheers to all shareholders of Keck Seng. Huat ah


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 21, 2019 8:24 AM | Report Abuse

Yeah, even if we give it another discount of 30% at RM14 per share, its still a bumper harvest for all loyal investors of Keck Seng but I believe the board may only offer half of it at RM7 per share as their initial offer to take it private. We may ignore it hoping for much higher offer. Cheers!!!


cefiro22
341 posts

Posted by cefiro22 > Feb 21, 2019 9:42 AM | Report Abuse

Many thanks to you all for the detailed input. Booked all the sellers at 4.82 at opening bell and others also later joined in. Must clear first hurdle RM5/- slowly for chance to buy. Cheers.


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 21, 2019 9:57 AM | Report Abuse

Should have no regret entering at these levels. The board will get worried if retail investors like us buying up at lower level before any buy-out. Now trying to get into the top ten gainer list. More will take note of this gem later. Cheers!!!


SUPERDADDY
397 posts

Posted by SUPERDADDY > Feb 21, 2019 10:31 AM | Report Abuse

Buying support at RM4.90 now . A bit too fast. Hope it can sustained. Cheers!!!


fourM
179 posts

Posted by fourM > Feb 21, 2019 11:14 AM | Report Abuse

Don’t sale for offer price below RM14


fourM
179 posts

Posted by fourM > Feb 21, 2019 11:29 AM | Report Abuse

And don’t buy if you don’t want to hold


fourM
179 posts

Posted by fourM > Feb 21, 2019 11:31 AM | Report Abuse

Play contra you will regret

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