Buy 14.08
If can fall below RM14
Add....

July 12 th closing date!!!!

KUALA LUMPUR: Chin Teck Plantations Bhd is projected to achieve commendable results for its financial year 2024 (FY24), due to the stronger-than-anticipated fresh fruit bunches (FFB) growth in the first nine months and stable crude palm oil (CPO) prices.

Public Investment Bank Bhd (PublicInvest) said the FFB production rose by 19.9 per cent year-on-year (YoY) to 177,967 metric tons in the first nine months, surpassing its projection of 5 per cent.

"In the third quarter (3Q), FFB production surged by 59.8 per cent YoY to 60,693 metric tons, while the average CPO price increased from RM4,044 per metric ton to RM4,128 per metric ton.

"Given the improved FFB production and CPO prices, we anticipate stronger earnings for the third quarter of the of the financial year 2024 (3QFY24) (March 2024–May 2024), with results expected to be released by the end of July," it said.

Additionally, the bank-backed research firm noted that, with a substantial cash reserve of over RM400 million, Chin Teck is well-positioned to explore merger and acquisition (M&A) opportunities to expand its landbank in its current plantation areas.

On the potential privatisation of the company, PublicInvest said it cannot be ruled out given the significant discount to its underlying value, as the company's price-to-earnings P/E ratio stands at only 2x after accounting for its cash holdings of RM409 million and investment securities of RM140 million.

"In our March 25, 2024 report, we highlighted the potential for privatisation due to the significant discount to the company's underlying value, with the fair value estimated at over RM900 million, or RM9.84 per share.

"At the current share price, the Goh family would need approximately RM150–200 million to privatise the group, which holds a cash reserve of RM409 million," it said.

PublicInvest has maintained a 'neutral' rating for Chin Teck with an unchanged target price of RM8.38.

Kuchai is still holding the GE shares

Can kuchai sell the GE shares to OCBC
Or must kuchai hand them to SBagan???

Currently kuchai has not swapped it's shares with SBagan

Kuchai is still holding the GE shares
Can kuchai sell the shares to OCBC?

Oversea-Chinese Banking Corporation (OCBC) has issued a response to the letter sent by the Securities Investors Association Singapore (SIAS) on June 21.

In its letter, SIAS posed six questions pertaining to OCBC’s decision to stick to its original offer price of $25.60 per Great Eastern (GEH) share, key factors that led to the offer price, and more.

In its response dated June 27, OCBC explains that it already considered the “methodology, analysis and opinion” of its independent financial adviser (IFA), EY, before making the offer.

“We note the IFA, following the detailed analysis it has undertaken, had considered the traded multiples of comparable companies across various metrics, versus the multiples implied by our offer,” said the bank, adding that its offer price represented a 36.9% premium to GEH’s last-traded price the day before its privatisation announcement on May 10.

The letter, dated June 27, comes after GEH’s free float fell below the regulatory 10% on June 24.

“We further note that the IFA has opined that the offer is not fair but reasonable and has advised the independent GEH directors to recommend that GEH shareholders accept our offer and the independent GEH directors have concurred with the IFA’s recommendation,” continues the release.

INGAPORE - Minority shareholders of Great Eastern (GE) who are holding out for a better exit offer from OCBC Bank may be in for a long wait. How long?

Twenty years or so, if history is anything to go by.

https://www.theedgesingapore.com/news/ma/great-easterns-free-float-falls-below-10-it-may-need-restore-free-float

Latest news

Presently, and mindful of the 10% free-float rule, investors in GEH are concerned that the purchase price on June 19 is at a significant discount to GEH’s embedded value of $37.81 per share in FY2022. This, in turn is 2% lower than FY2021’s $38.57.

Embedded value is the sum of the value of In-Force Business and the value of the adjusted Shareholders’ Funds. The value of the In-Force Business is calculated using cash flow assumptions for future operating experience and are discounted at a risk-adjusted discount rate. The value of the In-Force Business varies from traditional DCF methods to arrive at an NPV because the risk-adjusted discount rate and allowance for the cost of holding statutory reserves for risk are approximates.

The economic value of one year’s new business rose by 7.1% y-o-y in FY2022 to $860.4 million. However, shareholders’ equity fell by 6% to $9,431.4 million.

The closer OCBC’s stake gets to 90%, the stronger the likelihood of compulsory acquisition by OCBC

SGX rule very very strict!
Fair n transparent!
They act fast too

If can be sold at a higher price @zhlim
Would even be better!!!

@Dompeilee
Good that SGX has such a rule
Probably it's only a matter of time that the great Eastern shares will all be sold to OCBC.

Let's wait patiently!

The offer price represented a 36.9 per cent premium over GE’s closing price of $18.70 on May 9. However, it was also 30 per cent lower than the insurer’s $36.59 per share embedded value as at the end of the insurer’s last financial year.

OCBC had received acceptances for 1.74 million GE shares, or 0.37 per cent of the total, as at the end of June 13.

This raises the bank’s stake in GE to 88.8 per cent, and to 89.01 per cent if the number of shares held by OCBC’s concert parties is included. Concert parties refers to a group of investors who buy shares in the same company.

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OCBC’s offer to Great Eastern shareholders ‘not fair but reasonable’, shareholders should accept it: EY
Prisca Ang
Business Correspondent
UPDATED JUN 14, 2024, 09:52 PM
FacebookTelegram
SINGAPORE – OCBC’s offer to buy the remaining shares of Great Eastern from minority investors is “not fair but reasonable”, said independent financial adviser Ernst & Young Corporate Finance on June 14.

In a separate statement after EY’s filing to the Singapore Exchange, OCBC said its $25.60 a share offer price is final and will not be increased. The bank also extended the offer’s closing date from June 28 to July 12.

OCBC made a $1.4 billion bid on May 10 to take its insurance arm GE private following recent shareholder unhappiness over falling returns. Its voluntary, unconditional general offer was for the 11.56 per cent stake in GE that it does not own.

OCBC intends to delist GE if the free float requirement of 10 per cent is not met, noted EY in a letter to independent directors that advised them on making recommendations to GE shareholders.

9 months nett profits 31.010 million
Increased by 116.54%

@Dompeilee
Congrats!
Happiness!
Good Luck!

Pray pray deal will go through n OCBC will offer a higher price to take over!

Why?

Kluang share price keep going up!

Singaporeans very legalistic!

EY the financial adviser will advice !
Chances are...
The deal will go through!

Mr Wong Hong Sun, whose grandfather was chairman of Great Eastern for close to 20 years, holds more than three million shares. “Even if I am not sentimental, I won’t sell,” he said. “Half price is no way.”

Can the deal go through?
🤞🤞

I pray pray the shareholders will accept the offer n the deal goes through!

Yes
If deal does not go through SBagan will go back to 3.60...

Great Eastern share holders are given till 31/5 to sign n sell their shares to OCBC

Some minority share holders of OCBC are unhappy....saying that the offer to buy great Eastern is too expensive!

Let's hope that the deal will go through!

Must look at how much is the special dividend

Will they privatise?
Will there be bonus issues?
Will there be special dividend?

@AhPek
I agree with you
Biggest winner is SBagan
But all the three musketeers will up together with Great Eastern deal
Directly or indirectly all the three musketeers gain big harvest from this deal.

Kuchai oso will up...
Together with SBagan n Kluang
All up up together

Lucky
Kuchai get 222 SBagan

Dun worry
Kuchai, Kluang and SBagan all benefits together from the sale of Great Eastern shares!
Bumper harvest!

Kuchai Development, will distribute the Sg Bagan shares to shareholders . It will distribute the shares on the basis of 222 Sg Bagan shares for every 1,000 Kuchai Development shares held.

SBagan has been super undervalue!
Sales of Great Eastern shares will unlock the value of SBagan!
SBagan will get a big harvest of special dividend!

The cash proceeds would amount to RM4.556 per Sg Bagan share, based on its outstanding share base of 93.7 million shares.

Sg Bagan now owning 4.763 million shares in Great Eastern, which have a market value of S$121.93 million or RM426.88 million based on OCBC’s offer price

Assuming Kuchai had held on to the block, the 3.032 million shares alone would be worth an estimated RM271.7 million (S$77.6 million).

Which means Sg Bagan had got the land and other assets from Kuchai for almost nothing

When Kuchai’s shareholders gave the nod for the deal on Tuesday, the block of Great Eastern shares was valued at RM184.8 million

The most valuable of Kuchai’s assets is a block of 3.032 million shares in Singapore-listed Great Eastern Holdings Ltd, the largest insurer in the region

“For years, Kuchai shareholders had held on to the shares with the view that Great Eastern would be privatised eventually. This was on the account that the shareholders of Great Eastern were already clamouring for the board to take action to enhance shareholder value.

“When OCBC finally made the general offer for Great Eastern, the upside directly benefits Sg Bagan shareholders,” says the shareholder.

@Birdie.
I agree with you!

Hidden gem
The goose that lays golden eggs!

@ PureBULL
Why do u say KSeng is A1 stock?

How many acres of land does KSeng own in iskandar zone?
Where is it located?
What is the land cost?

Cash asset value?
Share asset value?
Hotel asset value?
Property investment value?
Property development value?

What is ,Ur prediction for the next financial years earning?

How strong is the future earning

# Dompeilee
Congrats!
You took profit at 230/235

Cooling period....

Kseng...
Is like a goose that lays golden eggs!
Hold tightly..
More to come!!!

HOLD TIGHT
HOLD TIGHT
More to come!.

20 cents coming...
Hopefully later they give bonus issues!

Looking for PureBULL
PureBULL.....come to KSeng station 💕

Insufficient media to cover this highly undervalue stock

PureBULL says
This is A1 stock...

We need PureBULL to highlight

JB theme play
No worries
Fund will soon know bout its value

Quarterly report coming out soon
This will reflect its value!

Super A1 stock
Angel stock..

Hidden gem!

Moving up non stop....
Chances are..
Deal will go through!

Kluang Rubber will also see its equity in Sungei Bagan rise from 30.72% to 43.12%, following Kuchai Development’s distribution exercise of Sungei Bagan shares.

SBagan up
Kluang up
Kuchai up
All related...

Hot stock ...hot...very hot!

Kuchai and Sg Bagan shared similar business activities in investment holdings and rental of property, with the latter also carry out oil palm plantation activities. They are controlled by a common major shareholder, Kluang Rubber, who owns 42.2% stake in Kuchai and 43.5% in Sg Bagan.
22 Jan 2024

Break resistance!
Strong ...

Break resistance....
Strong..very strong!

KUALA LUMPUR, May 10 — The Johor-Singapore Special Economic Zone (SEZ) could be a formidable competitive advantage in attracting fresh foreign direct investment (FDI) from multinational companies (MNCs).

This can be achieved by integrating Singapore’s global financial, logistics and advanced manufacturing capabilities with Johor’s access to competitive labour, abundant land and cheaper energy resources.

Maybank Investment Bank (Maybank IB) said Singapore enjoys wide and deep connectivity to global capital sources, while also serving as a gateway to the Asian markets, given unrivalled transport and trade links.

“MNCs are currently diversifying their supply chains away from China, and looking for alternative production bases as global competition for investments has intensified with rising impetus for countries to re-shore and friend-shore production.

“Against this backdrop, governments are looking to strengthen their competitive strengths to capitalise on this shift in supply chains and attract more foreign investments,” it said in a note today.

Maybank IB opined that there is scope for Singapore’s South-east Asia Manuf

Who has lots of industrial land?
kSeng....Pasir Gudang!