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Overview
Financial Highlight
Headlines
Business Background Can-One Bhd engages in manufacturing of metal and lithographed cans, plastic jerry cans, and packaging and distribution of dairy and non-dairy products. It operates through following segments: General Cans, Food Products, International Trading, and Property and Investment Holding. The General Cans segment includes manufacturing and distribution of lithographed tin cans, plastic jerry cans, flexi pack, and rigid pack. The Food Products segment offers manufacturing and distribution of foods products. The International Trading segment involves the trading of dairy products and raw materials. Firm’s Property and Investment Holding segment and Food Products segment account for majority revenue of the firm. The firm generates a majority of its revenue from Malaysia region.
  pharker How can your financials be worsened if :- 1) if you have a chance to acquire a grossly under valued asset 2) if you have the means to get the financing to acquire it 3) if you are able to service the financing obligation with your internal cash flow Yes ratio wise it may deteriorate such as gearing ratio, but common sense wise, what do you think ? 28/01/2019 10:48 AM lionel messi I suspect nothing will happen after the EGM as it will be rejected by most Canone shareholders. I don't think they want to be faced with a big rights issue to fund the MGO. The latest Edge weekly asked what is the endgame for Yeoh Jin Hoe (YJH) and Canone. Actually I think there is no endgame. YJH was just caught with his pants down with no intention whatsoever of doing a MGO. this is why SC fined him after finding out he tried to buy the 0.49% from Tan Kim Seng but did not announce a MGO. I think he still has no intention of doing a MGO and will abstain from voting at the EGM. KJoo shareholders need to hedge their bet. if the whole deal is rejected and aborted, the share price will plunge. they may want to sell some before the EGM. For Canone shareholders, it will be indifferent if rejected but will be negative if approved as they will need to cough up money for a big rights issue to partly fund the MGO. 28/01/2019 2:56 PM Lukey_Greek Agreed with Icon, EGM tomorrow will pass. Mr Yeoh & his friendly business alliance, Mr Teh hold total about 50% 13/02/2019 10:06 PM bsngpg Adjust number to make it a lost and not attractive so that more small investors lose faith and sell back to controlling shareholders. 27/02/2019 8:52 AM lcng123 They purposely making KianJoo result loss during the MGO. May be KianJoo will loss again in next quarter. 27/02/2019 4:50 PM Avalon One question: if Kian Joo is estimated at RM 3.10 per share, what is the value of Canone who is going to take over Kian Joo? 12/03/2019 5:53 PM  Icon8888 kianjoo is a very valuable asset canone will be RM4 to RM5 within 3 years 15/03/2019 10:35 AM bsngpg 3.08 is still quite high than my holding cost. Have to wait for much longer. Unless uncle comes back to push it up in rocket way. 15/03/2019 12:26 PM bsngpg Canone is in very good biz f&b, unfortunately, owned by no so good people. I bot it for its good biz and hope for the not good bosses to change to good. Just like those naive girl hoping for bad boyfriend to change to good. It is like "flower in mirror, moon in water". 15/03/2019 8:19 PM lionel messi Latest announcement says they already have more than 80% of KJoo. Now they will proceed to request for a delisting. It's not that their corporate governance is bad although on the surface it may appear so. It's just that they are savvy and hardball people who strikes a hard bargain. In order to beat people like that, you have to beat them at their own game. How? Buy their when prices are falling and when nobody is interested in the counter. Collect and do dollar cost averaging quietly and slowly. Give you a tip: when they propose a massive rights issue sometime in the future (which they must given the huge borrowings incurred in acquiring KJoo and their smallish capital base), their share price will likely fall sharply given the current market dislike for rights issue. That will be the opportunity to buy into the mother share or the renounced rights. 23/03/2019 11:00 AM qqq3 Icon8888 > Mar 22, 2019 7:35 PM | Report Abuse Their corporate governance is quite bad ==== don't understand u..... what u mean by bad? no dividends? no transparency? inaccurate accounts?.......no such thing. 23/03/2019 11:21 AM Icon8888 Few yeas ago, they attempted to steal kianjoo by teaming up a director with EPF But unsuccessful Read 2013 announcements Posted by qqq3 > Mar 23, 2019 11:21 AM | Report Abuse Icon8888 > Mar 22, 2019 7:35 PM | Report Abuse Their corporate governance is quite bad ==== don't understand u..... what u mean by bad? no dividends? no transparency? inaccurate accounts?.......no such thing. 23/03/2019 12:00 PM qqq3 they already successful stole KJ many years ago while the brothers were fighting......... 23/03/2019 2:06 PM qqq3 now the present restructuring makes great sense. Takes guts and great business sense and this is the best time to do it..........they are the masters 23/03/2019 2:08 PM qqq3 n8888 > Mar 22, 2019 7:35 PM | Report Abuse Their corporate governance is quite bad ======== couple years ago, KYY was promoting Canone and price collapsed.....was it company fault that price collapsed and never reached his tp.....like Dayang? aluminium prices keep shooting up, Press Metal keep on making record profits.....the company stiill making money and they think now is the best time to move on KJ, even though they already control the management with 32%. much easier to consolidate the two operations after taking KJ private...no more accusations of favoring one over the other. 23/03/2019 6:12 PM Icon8888 This stock is experiencing a once in a lifetime re rating The acquisition of kianjoo (80%+) has fundamentally transformed it Market doesn't have the numbers to evaluate yet, but insiders are already moving in 10/04/2019 9:51 AM lionel messi basically just undervalued, underpriced, under researched, under the radar and not understood by the market. a fundamentally deep value and sound company run by shrewd, savvy but cocky, quarrelsome. stubborn and hard ball people. suspect the price is being pushed up to get a higher price for an impending massive rights issue which is inevitable to pay for the KJoo acquisition. be aware, a huge rights is coming very soon, at least in the ratio of 1 for 1 or 2 for 1. but there will be sweeteners in the form of bonus issue and/or free warrants. their balance sheet is strong enough to afford the sweeteners. 10/04/2019 9:53 AM lionel messi no, they never had a rights issue before. purely used bank borrowings to acquire the first KJOO block. from Kuwait Finance. 10/04/2019 10:08 AM Icon8888 Not necessarily will be a rights issue They did that once before without rights issue when they acquired 32% stake in kianjoo Gearing shot up to 500% (if I remember correctly, according to an article in Focys Malaysia or the Edge). But over the years they managed to bring down to less than 100% Kianjoo is a very strong player. When the stars are aligned, it will flex its muscle big time . The strong profitability and free cash flow will help canone degear Let's just wait and see I said the above because I know entrepreneurs hate to cough out own money to acquire assets (via rights issue). Especially for canone boss who is so old already 10/04/2019 10:19 AM pharker They just stole a valuable asset at a deep discounted price, hence valuation up and price begin to move up. Forget about the gearing issue if their cash flow is able to service the debt, it is only a ratio on paper to scare the financial analyst. Imagine if I have to borrow RM100 from the bank to acquire an asset at a discounted price of RM100 but which is worth RM200, and provided I can also service my bank borrowings with my income stream. am i better or worst off ?? So if you are a KJ minority shareholder whose shares has been robbed off your hands at a unfair discounted price of RM3.10, what are you going to do to get even ?? Buy back the shares of the robber i.e Canone to get even la..so you indirectly own back KJ Thats why Canone shares start to move up now...quick before its too expensive..anything below RM4 is a good buy. 10/04/2019 10:25 AM Icon8888 Who robbed minorities ? It is a general offer You don't like the price don't accept the offer 10/04/2019 10:27 AM pharker if i dont accept the offer, what type of future do i have owning a delisted securities which cannot be traded in the open market ?? Just like if i own a house worth RM2 million, now you offer to buy from me at RM1 million, but if i don't sell to you now at RM1 million, LATER when you offer lapsed YES I still own the house but i cannot sell it in the open market anymore.. Non liquid securities..have you owned one before my friend ?? 10/04/2019 10:34 AM Icon8888 But even if it happens, it is a fact of life At least they are doing it through a General Offer instead of underhand tactic like assets / liabilities disposal 10/04/2019 10:43 AM Icon8888 So you can't really blame them if they managed to delist They have gone through the public acceptability test It is quite fair 10/04/2019 10:44 AM pharker regardless, for those KJ minority holders who may feel unfair in the deal, just use the proceeds you got to buy canone shares lo. Lose some win back more later hopefully. The key here is to get in quickly b4 canone becomes expensive 10/04/2019 2:20 PM  |
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