Highlights
KLSE: CCB (2925)       CYCLE & CARRIAGE BINTANG BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
2.10   +0.01 (0.48%)  2.10 - 2.10  100
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Overview

Market Cap: 212 Million
NOSH: 101 Million
Avg Volume (4 weeks):40,910
4 Weeks Range:2.08 - 2.12
4 Weeks Price Volatility (%):
50.00%
52 Weeks Range:1.20 - 2.14
52 Weeks Price Volatility (%):
95.74%
Average Price Target: 1.35
Price Target Upside/Downside: -0.75
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#3]  |  01-Nov-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  26-Feb-2020
T4Q P/E | EY: -15.18  |  -6.59%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 2.69  |  0.78
T4Q NP Margin | ROE: -1.20%  |  -5.14%

Headlines

Date Subject
18-Dec-2019 Cycle & Carriage Bintang Bhd - 4Q FY 2019 Update Report (HOLD)
18-Nov-2019 陈艳芳‧又走了一家
14-Nov-2019 上升股:合发吉星阻力RM2.55
13-Nov-2019 [转贴] [CYCLE & CARRIAGE BINTANG BHD:单位销量和利润率下降] - James的股票投资James Share Investing
12-Nov-2019 [12Invest] 我要投资 - 浅谈Mercedes-Benz 要私有化了?
12-Nov-2019 Cycle & Carriage - Farewell CCB
12-Nov-2019 怡和集团削资回退每股2.20令吉‧合发吉星私有化
12-Nov-2019 PublicInvest Research Headlines - 12 Nov 2019
12-Nov-2019 Mplus Market Pulse - 12 Nov 2019
04-Nov-2019 PublicInvest Research Headlines - 4 Nov 2019
04-Nov-2019 Mplus Market Pulse - 4 Nov 2019
03-Nov-2019 Cycle & Carriage - Cycling Downhill; Maintain SELL
01-Nov-2019 Cycle & Carriage Bintang Bhd 3Q FY 2019 Update Report (HOLD)
30-Oct-2019 Cycle & Carriage - Muscle Up for Future Prospects
01-Aug-2019 Cycle & Carriage - Losses Widen Further
31-Jul-2019 Cycle & Carriage Bintang Bhd 2Q FY 2019 Results Report (HOLD)
03-Jul-2019 6 things I learned from the 2019 Jardine Cycle & Carriage AGM - Victor Chng
25-Jun-2019 Cycle & Carriage - Challenging Outlook Persists
13-May-2019 [转贴] [CYCLE & CARRIAGE BINTANG BHD:预计今年剩余时间市场将继续面临挑战] - James的股票投资James Share Investing
24-Apr-2019 Cycle & Carriage - 1Q19 Hit by Double Whammy

Business Background

Cycle & Carriage Bintang Bhd is a Malaysia-based company. It is a dealer of Mercedes-Benz motor vehicles in Malaysia. The principal activity of the company consists of the retailing of motor vehicles, the sale of spare parts and servicing of vehicles. The company serves in two segments including Automobile Industry and Investment. The Automobile industry segment is engaged in retailing of motor vehicles, the sale of spare parts and servicing of vehicles. The Investment segment is engaged in investment in Mercedes-Benz Malaysia Sdn. Bhd.
Analyze this stock with MQ Trader system

  3 people like this.
 
Miz Raya Bloom kalau turun 1.60 ku beli sebab nak dapat 2.20 tu pun kena bayar stamp duty, ada fee lain2 - dulu kawan ku pernah buat masa E&O nak delisted, lepas tu tak jadi delisted hihihi
14/11/2019 10:38 AM
khaiven Actually how can we receive the money if we bought the shares? or it will be automatically credit to your CDP account?
18/11/2019 9:41 AM
meerkat0078 @ khaiven. Buy the shares and make sure to accept the offer @2.20. Then if there is 90% acceptance, they will pay you 2.20 into your bank account usually within less than 6 mths.
24/11/2019 10:17 AM
Thinkcarefully What if the BOD rejects the offer?
27/11/2019 9:46 AM
meerkat0078 @Thinkcarefully Based on the current market condition and the NTA of CCB, the most likely outcome is to accept as CCB is undergoing an extremely challenging period with no dividends likely to be declared in the near term and no expectation of the share price to be appreciating in the medium term (at least). Almost all recent SCR from Suiwah, Selangor Properties and Century Bond were successful. (MAA's SCR was not successful as it was reported that the offer price was at least 40% below the company's NTA at that time.)
27/11/2019 11:36 AM
Junqi Assuming everything goes smoothly, how long does it take from announcement date of SCR to payment to shareholders.
28/11/2019 8:05 PM
meerkat0078 It takes about 6 months from the date of announcement to complete everything. By the way, the board of directors has just appointed CIMB Investment Bank Berhad as the Principal Adviser for theproposed SCR. Looks like it is going to get smoother and smoother....
29/11/2019 10:21 AM
Thinkcarefully Its still worthwhile to buy at 2.09. Annualised return is about 10%.
30/11/2019 6:47 PM
meerkat0078 They have just appointed Affin Hwang Investment Bank as indepedent adviser and Affin Hwang has recently mentioned in their coverage that 2.20 as a good exit price. So be prepared to get 2.20 soon.. :)
30/11/2019 8:11 PM
wahidpenang Berjaya Misai Vincent Tan is in the ring, asking Jardine to pay up to $3.80 per share
02/12/2019 6:24 PM
Junqi Can sell to VT
02/12/2019 7:20 PM
SUPERSUN @wahidpenang is it true??
02/12/2019 7:38 PM
Junqi This can't be true.Who is VT to demand a higher price,unless he holds more than 10% of the shares and can put a spanner in the SCR.Other than Jardine (60%)no one else has more than 2%.
Of course VT can offer to buy at 3.6. Maybe even Jardine may sell to him haha
02/12/2019 8:13 PM
Miz Raya Bloom wah! macam2 hal!!
06/12/2019 10:07 PM
Syndicates by looking at their group properties section in annual report, is the value shown revaluated? a bungalow valued at RM23k? if no then there's a huge NTA hidden.
06/12/2019 10:16 PM
Miz Raya Bloom Ya ke? Pi serang AFFIN.
06/12/2019 11:25 PM
Syndicates It's true. By looking back to their disposal of properties announced in 2006, they stated a big gain after disposal because they never do revaluation on their properties, so their value is in cost valuation model. Most of their properties are over 10 years 20 years, you think how much potential value is inside these properties?

https://www.google.com/url?sa=t&source=web&rct=j&url=http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download/%3Fname%3DEA_DS_ATTACHMENTS%26id%3D147517&ved=2ahUKEwjOnbTDpqLmAhXUdCsKHVeqC3YQFjACegQIAhAB&usg=AOvVaw2PP5E8pHAtXvi4e3lkb91p

Affin kia sure write something in favor to jardine. No doubt.

I'm expecting a revised price on next week, as they extended the time to get BOD's deliberation till next Friday. If offer price at 2.20 is no issue then they should already approve this proposal.
07/12/2019 8:48 AM
Syndicates To get EGM passed must have 90% voting right, 50% number of shareholder, Jardine themselves cannot vote.
07/12/2019 8:55 AM
meerkat0078 Jardine already has 60% of the shares. It will most likely get 40% to approve as hanging on will not do any good to the share price at least in the middle term.
07/12/2019 10:05 AM
Junqi Dont know why BOD postponed its decision last week.It does not have the mandate to reject or negatiate Jardin offer.Unless someone has offered a higher price which is most unlikely unless Jardine offered to sell as well.The shareholders are the ones deciding and I am sure all are in favour of selling at 2.20
10/12/2019 8:24 AM
meerkat0078 Privatization shall proceed...
11/12/2019 12:35 PM
Junqi Maybe at a higher price?
12/12/2019 5:16 PM
csan https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3009227
13/12/2019 11:41 AM
csan This marks the end of the RM11million annual dividend from Mercedes Benz. Without this dividend, Cycle & Carriage is a dead duck. Not fair to say their properties are undervalued because they need the properties for showrooms, they cannot monetise them.
13/12/2019 11:45 AM
ismailkarin Misai and a group is planning to block the SCR unless Jardine revise upward the offer price >$3
26/12/2019 9:50 AM
Thinkcarefully Dreaming.
26/12/2019 7:01 PM
SUPERSUN ha ha ha
26/12/2019 9:37 PM
ismailkarin Please read The Edge this Saturday on Misai and the gang proposal to block the deal
30/12/2019 10:38 AM
ismailkarin @Thinkcarrfully, please don’t just be a keyboard warrior and do nothing on your investment but wait for others to do the necessary work
30/12/2019 10:40 AM
ismailkarin Chinese Proverb : you reap what you sow
30/12/2019 10:40 AM
saltedfish Well said Ismail
30/12/2019 11:09 AM
Thinkcarefully So is this good or bad for shareholders?
01/01/2020 5:58 PM
weh9168 Edge reported Muar Ban Lee being a minority shareholder wants to negotiate further with Jardine for a higher take over price
05/01/2020 8:01 AM
Thinkcarefully MBL needs 10% to to scuttle the SCR.According to latest AR,it has just over 1%
One bird in hand is worth more than 2 in the bush.If the deal is off
It will be back to square one
05/01/2020 6:18 PM
wahidpenang 2018 April has >1%, mbl would have upped its stakes in the last 20 months period to block the deal
11/01/2020 10:02 PM
saltedfish VT will join in to pressure JCCL to increase price soon. Heard he wanted $3.80
11/01/2020 10:03 PM
Trump Bodoh. People said what you follow what. Langsung tak guna otak.
13/01/2020 2:35 PM
ismailkarin Scheme Document on SCR is out and it show NAV of $3.64, a steep discount of 39.56% to Jardine’s offer price of $2.20.

I am going to vote against the privatisation of CCB
14/01/2020 10:34 AM
SUPERSUN if NOT successful SCR,the share price will drop back to 1.29
14/01/2020 2:06 PM
Junqi I am not greedy. I also think it is reasonable.
I will vote for SCR.
Otherwise my share and money will be stuck for probably next 5 years
14/01/2020 5:37 PM
sleepingbeauty NAV on the books is below RM1.70. RM3.64 is the RNAV of the assets, which means if they dont sell the assets (land) that value can never be realised. They need the land to operate the business so how can that number be realised? Look at Affin’s analysis, unfair but reasonable and they recommend this SCR, i also agree. Share price will never return to this level if SCR is blocked and when share price goes back down to RM1+, we lose the chance to get our money back.
14/01/2020 8:41 PM
Syndicates take it easy. i make counter offer of ccb at higher price. then i liquidate everything to realise the whole asset to make big profit. u feel fair or not? next time when they sell their land, they make the big profit. we invest stock also need to see the NAV to decide whether it is worth to invest or not.

if they do sale and leaseback, they earn the hidden value of the land and meanwhile still can operate the business under the same land. they then distribute the profit as dividend, big portion consideration of taking over is covered. but their land need to pay rental afterward? raise the car price lor. rich man who can afford to buy merz won't care kacang bilis one mah.

i dont know where you see NAV below 1.70. guess you have seen it wrongly.
how reasonable is reasonable? i know the NTA is 2.69. but you offer me 2.20. ok lah since you are the one who manage the company i compromise with it. after that i found out there are big potential gain on the land. walao at least your offer should close to 2.69 lor, the hidden gain on land you hold it.

even if you are rich you also wont pay for something that is not worthy. like you go fine dining can pay hundred bucks happily but you pay RM20, RM50 to illegal parking attendant, you feel unhappy. you pay for the safety of your car, but you are unhappy because you feel unfair as they contribute nothing to earn your parking fee.




In assessing the reasonableness of the Proposed SCR, we have taken into consideration the
following:
(i) historical market prices analysis of CCB Shares;
(ii) historical liquidity analysis of CCB Shares; and
(iii) no alternative offer and JCCL’s level of control.

when they have intention to takeover, they will maintain the stock price at higher level? of course squeeze you until you surrender lah. this is what chinese called big stone smash crab. succumb to power.


in fact they should revise the offer price lah. too low to surrender.
14/01/2020 10:06 PM
sleepingbeauty My bad bro, meant to say NAV was below RM2.70. I will accept your counter offer right now :) Let’s do it!

NAV is of course an important consideration when we invest, but it is also subject to the business and industry. Right now we only see the paper value that is hard to be realised. Sale and leaseback is easier said than done bro. How long will it take and at what terms? Will market rent necessarily be cheaper? The business seems to be struggling with cash flow and profitability so who knows how this would impact them?

Share price has been low for a while already before the SCR, so we can speculate whatever lah, whether price is being squeezed or is that simply reflecting the true sentiment.

Just my opinion, will there be a better offer in 12 months if this fails? Who knows? I rather not guess, I will grab this chance and exit now! Good luck everyone!
15/01/2020 12:11 AM
Junqi CCB sold its 49% stake in Mercedes Benz Malaysia to Daimler Germany for 66mil.
This amounts to 65 cts per share.
This should rightly be returned to all shareholders
15/01/2020 9:08 AM
ismailkarin Jardine paid $92m to ensure the SCR won’t end up without money to pay Entitled Shareholders. But you have to subtract the $66m they received in December, which mean Jardine only forked out 92-66 or $26m to privatise CCB.

This is called robbery ! I will VOTE AGAINST the SCR comes Feb 11 at 11.00am
15/01/2020 5:48 PM
Thinkcarefully Right now I am like sitting on the fence. If vote for SCR I really feel cheated. Vote against my money will be tie down for at least 5 yrs.
To be fair Jardine should up the buyback price
Hope more shareholders would write in the forum to share
what they think
15/01/2020 7:29 PM
saltedfish Of course VOTE AGAINST lah. Don’t let the mat Salleh belittle us with $2.20.

We have dignity you know?
15/01/2020 11:50 PM
Junqi My decision will be based solely on financial consideration.
As long as the return on my investment is reasonable I will vote for the SCR
Nothing to do with dignity.I dont want to tie down my money for next 5 years
To quote Bill Gates, "Life is not fair. Get use to it"
16/01/2020 1:29 PM
Syndicates it's either you sell now or take the risk to hold it on hope that egm will go through
18/01/2020 12:15 AM
Syndicates or hold it tight no matter what's the outcome of the egm, bet for better offer price
18/01/2020 12:16 AM


 

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