U dun believe u read kcchongnz's write up on Latitude la....

Wa. U diam diam clear $1 already ar? One more to go $1.1

stkoay & chinchiaho. Pls clear the road block (son) at $1, would you?

$5

I ask my remisier alr. The registrar will send us the form. She said we can download from brusa website but I can't find it. Anyone like to try look for it? Hopefully after a year or two of share cap enlargement, KSL will turn into mid cap. By then it will be in the radar of fund managers. Today very good performance. Congrate to all KSL comrates.

crazy stock

Peak is $2

Welcome back!

54055. The dividend payment date is 25Feb. Are you saying that we will receive the DRP form before that? Have you received any?

I see it as another round of bonus share because it fits the criterias of bonus share. 1st. KSL enlarged it's share capital. 2nd. Shareholders don't have to fork money (taken care of by dividend). Besides, it is about 7% off the market price. It is indeed a very good deal. The more shares we get down the road the more diviend we will receive.

I find that very few forumers are sharing infor & knowledge now. Too many ppl are talking nonsense until the genuine investors stay quiet. That's very sad. I encourage the old timers come visit KSL forum & share their knowledge even though they are not holding many KSL shares now. Pls stay calm & keep invested rather than timming the market. Like to thank stkoay for highlighting the anouncements. 54055 & bobbywee. Pls be more active. Share your thoughts!

Thanks for the infor, mililia.

Homeritz Latitude Lihen Pohuat all at their all time high in this volatile market. I think it is safer to be in Hevea now.

Adjusting the ex price seems to be the cheaper way. So better dun speculate on share price will be pushed above $1. Right?

That's mean just value adjustment. No price adjustment.

Ok. Here is the answer from my sifu:

The price adjustment calculation was based on the assumption that warrant holders will exercise their warrants right after the ex. In actual fact, who in the right mind will exercise when the underlying share price is less than the exercise price? Even if the underlying share price is above the exercise price, is it rational to exercise when you lose 5 years of time value?

Do not forget warrants has time value, plus the intrinsic value. Often the time value is the only thing it has when the warrant is deep out-ot-the-money.

I did mention to you the right way of valuing warrants is by the option pricing, not the simplistic intrinsic value.

This case would be very interesting. If price before ex < ex price, there is no dilution. In fact there is price appreciation. You can plug in 80sen (current price) & $1.2 (price before correction) and try it out.

Or maybe ( Price before ex + Total no warrant * $1 )/ (Total no share + Total no warrant)

If full dilution, can I say adjusted price = Price before ex / (total no share + total no warrant)?

Azmi. U r right. The formula doesn't hold water. Can u suggest one?

gweilo. Dun be too confident. Any irrational thing can happen. Insas is a Graham NNWC candidate with the highest ROE; 13.6% last year. Who can expect it is selling at almost half of it's Graham NNWC value?

Son gained 13.5%!!!!

Homeritz & Latitude have almost hit the ceiling. Hevea still have plenty of upside potential. Hevea will be the star tomorrow!

Wat does it mean? Taiko is back?

If warrants are deep in the money, warrant holders are very likely to ex their warrants. The quick & dirty way is to assume full dillution.
Adjusted price = MarketCap / (Total no. share + Total no. warrant)

After all the theories bla bla bla. Adjusted price is in the hand of buyers to decide.

I agree with cfoong. Although warrant is not a share before it is ex, but it does has it's claim on company asset to certain extent. Imagine this, if your are gaoing to buy the entire company, you have to pay the warrant holders besides the common share holders, right? One way of determining the price adjustment is like the following:

1. Using option pricing model to figure out the theoretical value of warrant. Since the variebles are volatility, time to maturity & ex price, the theoretical value will change in daily bassis.
2. Adjusted share price would be (MarketCap - Theretical value of warrant) / Total no. of share

Better tell the mon follow the son closely, or else kena kidnap hor..

Haha. Seems like 2015 cannot take a break hor.. Will be continue busy with stock...

LCX. Every stock has its upside limit. Those counters reach their limit earlier. Hevea will reach its limit too although slower.

OTB. Could you advice your subscribers when to long FBMKLCI?

Sit tight. Lai liau.

就是说你用RM0.385去买了应该值得RM0.2528的东西，你多给了52.319%。
反观HI的情况，是你用RM1.07去买一个RM0.843的东西，
虽然价钱看似高，不过溢价只有26.935%，比HB少了一倍。

Maturity date of HI is two month further than that of HB. Therefore one can argue that HI is more risky due to time factor. So ppl are less willing to pay too much premium for HI. Is there any calculation model that include time factor?

Nice move, stkoay. You still can play in 2015. I think I have to say sayonara, lol.

No point asking why & how. Bear market confirmed. Go do something more productive. Come back in 2016. Your money will grow. Dun worry!

Even if it crash I won't liquidfy other assets to pump in more cash. I m very disciplined. I used up my allocation for share investment. That is it.

stkoay. U sold all your ksl share & only holding cash? I m fully invested but it only represent 11% of my net worth.

If we subscribe we are entitled 1 RPS 2 warrants. We still lack 1 token, sifu. We get that from open market. Lets say the mother share turned bullish and we decided to buy warrant in open market, we need more token.

Sifu Leno. Their argument is buying RPS from open market at < $1. Since RPS can be used as token to ex warrant, capital gain can be realized much earlier. No need to wait for 5yrs. If I m planing to convert my warrant, & I managed to grab RPS at 90sen, I can have immediate 11% capital gain.

They will definitely push the price back to at least 1.2 before corporate exercise. Not everyone has deep insight & forward looking as the above sifus. Unless the sifus can buy all the rights la... Most layman will focus on the detachable warrants. 20% discount is all they need.

Wat cock so many scenarios O... Just subscribe if u are shareholder or else others will take a bite of your pizza. Then take the weak market sentiment as an opportunity to buy as many RPS as possible at 80-90sen (hopefully lower) for interest yield & capital gain. If mother share price rally up then can consider buying more warrant. End of the story!

This share always kena road block at 9x sen.

That's why I say dun shut ppl up before they finish talking.... Isn't he telling us a piece of important infor? We r young men dun behave like old fart ma... Hold long term! No problem! Where r u going to keep your money? If Malaysia bankrupt they freeze all your bank saving (just kidding).

Slow & steady. No manipulation.

Anyway TQ to Leno & Mililia. Now I fully understood the game & I dun have to read the circular again. My English no good la... Sometime can't understand wat I read.

Rude words do not reflect intelligent but knowledge does. Gentlemen. U dun have to be rude to show how smart u r:))))

TQ, Leno. May I call u sifu?

Leno is right. Even if we buy the right at 1sen yield is less than FD rate. Our hopes are on the 2 free warrants, provided Insas share price stay above $1.

Mililia. Volatility changes in daily basis (warrant theoretical value changes too). Your table can't be used as reference. Can someone answer my above two enquiries, pls...

"The RPS may be surrendered by the Warrant holders at 100% of the issue price of the RPS for the exercise of the Warrants in lieu of the exercise price of RM1.00 per warrant"

I need clarification for the above statement. Can RPS be surrendered before maturity?

Ok. Thanks for highlighting that. I missed that line. How long would the RPS be listed? I guess it won't be listed until maturity, right? It's value will deplete with time (the closer to maturity the less amt of dividend will be received).

Can the RPS be traded in open market? I dun think so, mililia. The RPS can only be sold back to Insas at $1 upon. Am I right?

Referring o the above statement again. I made a mistake. U bought the right (not RPS) from open market during the 2weeks trading period. I guess the right (not RPS) will be traded at 15-20sen. Assuming u bought the right at 15sen, and u come up with $1 to subscribe, you are paid 4sen dividend. How can it be more than 4%?

Whatever it is I know my RPS will worth at least RM1 when it matures. So, buying RPS at a discount is almost a sure win.

Mililia. I think there is some misunderstanding here. You dun get o buy the RPS at discount. What u can do is buying the right to subscribe from those who are not interested to subscribe. There will be 2weeks open trading period. As I mentioned earlier, once u bought the right, u still have to come up with $1 to subscribe.

For example, if mother share is 81sen. And RPS also trades at 81sen and I have warrants. Remember the ratio is 2:1. The. I will buy RPS, keeps if I want and get 4sen dividend annually (that is 5% yield)

Mililia. It doesn't matter at wat price the RPS is traded once u bought the RPS from the open market u still have to subscribe $1 to Insas, right? The dividend yield will never more than 4sen. I guess the RPS will be traded at 15-20 sen.