If 9 months eps was 44 sen, maybe full year will be between 55 to 60 sen. Plus if they reward shareholders with bonus shares or a share split, then share price will be heading towards RM4.50 and beyond...

Personally, I think the valuation given by Public Investment Bank on the 644 acre landbank at RM 562 million is still too conservative.

The land is surrounded by IJM's Rimbayu and Tropicana's Canal City but these 2 projects are on Leasehold Land whereas SAB's land is the last Freehold Land in this area and is directly behind Kota Kemuning.

Me thinks the land alone is worth RM 1 Billion.

Reported in The Edge Daily today, Public Investment Bank gives SAB a Fair Value of RM7.77

What about those shareholders that had 3,000 shares, say. After the exercise , they have 30 x1.5 = 45 shares.

WTF you going to do with 45 shares? Odd lots brokerage much higher than minimum RM 40. So, sell also die , don't sell also die.

All they done is get the "tumpang " GW Plastics spread of 1,000 shareholders to go IPO.

At least with Bina Goodyear, the share consolidation is 10:1 and the existing shareholders given a rights issue of 50:1 at 10 sen par.

If they want to increase their holding ,they can. If not ,they can sell the OR (rights) and still get some thing back.

After capital repayment, still has about RM4 million in cash. Based on reduction etc, basically paying the White Knight to do RTO.

As wt222 said, better to de-list and donate the cash to Charity!!

Kyosan, new owners just came in. So, virtually no change in biz yet.Q1 results will be nothing special, imho. But congrats for spotting it early.

Madzlan, thx for yr input. New owners just injected RM 25 million + for shares at 20sen @. Don't think they will stop the goreng so soon. So your tp could well be true.

Madzlan,

Your tp more aggressive. I just heard tp will be 30 sen by CNY.

Still can enter? Seems to have moved after corporate exercise. Payback time?

Very illiquid counter but solid company.
Only 137m shares and has over RM155m cash on hand and virtually debt free.

Owns over 600+ freehold land in Shah Alam, behind Kota Kemuning and near IJM Land's Rimbayu. Currently stated in accounts at approx. RM5 psf but should be worth at least RM 40 psf.

Don't touch if playing contra.

New ESOS approved at EGM in June for up to 30% of paid up shares. Sometimes once ESOS in place, some sort of corporate exercise will follow. Perhaps transfer to Main Market as well.

Opportunity to arbitrage...Conversion to mother share is only 20 sen

The results from the coming few quarters will be very good...to reflect the strong sales of their Mont Kiara Concerto condos as well as the recently launched Kota Kemuning bungalows.

Don't have TP but wont be surprised if it heads towards RM1.

TNLogis recent big gains are not related to their Logistics or transportation business.

There is talk of an impending REIT of their warehouses. Also their property division will be reporting strong profits from their industrial property sales in Shah Alam and Johor.

I think Avago getting strong reviews and upgrades in US.

When Avago goes up, Inari will follow.

New Kota Kemuning Bungalow project (called Hometree) officially launched last week.1st phase comprised of 101 bungalows ranging from RM2.5mil to RM3.6mil.

Unconfirmed take up rate of over 80% ,locking in sales of about RM200 mil. Total GDV for entire 150 acre project revised upwards from RM1.6 Billion to RM2.1 Billion over 6 to 7 years.

Also, their maiden Klang Valley project called Concerto Mont Kiara doing just as well.3 towers of condos with GDV of about RM450 million. Tower 1 completely sold out and Tower 2 has bookings for 80%, according to press release.

BCB is a mid-sized player based mainly in Kluang and Batu Pahat where they have over 1,000 acres of landbank. Not as sexy or glamorous as (JB)Iskandar area but solid , bread and butter affordable landed properties between RM300-400,000 price range.

Latest NTA of RM1.70 with most land bought many years ago and not revalued. The real irony is that the original developer of Kota Kemuning is Gamuda ,who just bought 700 acres of leasehold land in Rawang for RM20 psf. BCB bought the 150 acres of L/H land in Kota Kemuning for RM16.40psf in 2011.If Rawang land worth RM20psf to Gamuda, pretty sure land in Kota Kemuning worth over RM30 psf, IMHO.

Expect coming quarterly results to show BIG jump in sales and Profits.

Disclaimer: I own shares in BCB.

Share buy back today of nearly 1 million shares, making a total of 6.75 million in 1 week.Plus Ng Ah Chai buying last month and he now has 9% of Inch Kenneth.

CEPCO also buying more shares.

So many Orang Kuat buying , so why should I sell?

CEPCO is their largest shareholder and if they want to privatise at RM1.20, they can my shares.NTA is about RM1.50 from memory, with over RM200 million in cash.

Privatisation by CEPCO?

Skyland,

Menang looking good to hit your 1st TP of RM0.40 sometime next week maybe?

Another PFI concession coming?

I think OSK research paper released after RM70 million award but just before RM 430 million biggie.Most likely they will issue an update and revise TP higher, at least I think they should.

My mistake.The Seremban 3 PFI was awarded sometime back and due for completion in 2014.Last year they were awarded 2 more PFI projects worth RM 260 million in Puncak Alam and one near Nilai worth RM 101 million.

Hopefully,they'll be getting another one soon from Ministry of Higher Education.

Could it be the award of the 3rd Private Finance Initiative (PFI) UITM project worth RM300 miliion in Seremban?

Chung,

In this case , very happy to telan back my words...Ha ha ha .Wish that everytime I make a mistake, my stock will go up.

After these 2 contracts, I think the Broking Houses will be pushing up the TP for Perdana very soon.

2 contracts secured in a week worth RM500 million .Yipee!!!

2013 will indeed be the year of Perdana Petroleum.

Mother up another 2 sen to close RM1.13.

Warrant not bad, up 0.5 sen to close at 32.5

Chung,

CNY only a bit over 1 month away, not sure if it will go up that much by then.But if mother hits RM1.35- 1.40 level, pretty sure warrant will be RM0.50 at least.

Mother share has performed remarkably over past 6 months with virtually no corresponding increase in the warrant price.Now warrant only trading with 20 sen premium with almost 3 years to run.

TP RM0.40 should be achievable very soon.

SP Setia-WB shot up like crazy and now trading with 4 sen premium with less than 1 month before expiry.WCT -WB on the other hand ,trading with a 15 sen discount with over 4 months to go.

Ini market betul-betul gila sometimes.

Doesn't look like the Operator/Owner willing to push this past the 40 sen level for the next 3 days to flush out all the contra players.

After T+4 period, thta's when it could get more interesting.

Canadian Govt not so keen on approving anymore deals for their Oil sands.Could be seen as a positive for KNM

Looks like owner or operator flushing out contra players that have made a few cents and day traders are getting caught also.

Anulus,

RM0.60 should not be the maximum.It should be the minimum.There should be a little bit of premium attached to it, although it is expiring on 23 April 2013.

I am stunned there are sellers in the low 40's...You would think their remisier executing the sale would advise them of the adjustment to the exercise price thus morning.

Biggest uncertainty is they do not release new exercise by tomorrow or that it is much higher than RM1.85.

Buy and trade within your means and if you think the gains are enough, better to be safe than sorry, sometimes.Good luck.

Time to sell? Not me .

If got some more bullets, buy some more.Otherwise, just sit back and wait for announcement tomorrow regarding adjustment to revised exercise price.

Mother share price pretty strong this morning.Assuming at RM2.40 and assuming NO premium accorded to WB (due to expire in April 2013), and new conversion price at RM1.85,the WB price should be 55 sen.

Sekian dimaklumkan.

Saw a positive write up in this weekend"s The Edge promoting WCT's warrants especially WB, currently trading at about 6.6% discount with revised conversion price of RM1.85 ( to be announced on Tuesday 11th Dec).

In fact a couple of Bloggers also bought WB, and are waiting just like us, for the spike up in WB's price after 11th Dec, to around 50 sen level.

Let see if tomorrow got some more action.

Guys, 1 more hour before market closing...still not much volume for WB

Bingo,

If no mistake or mis-calculations on the revised exercise price of WB as per Circular, I think WB should be trading at least 50sen, IMHO

Still no rection from the market today ,being the last day before ex-date tomorrow (6th Dec).

Be patient my fellow WB followers....Tomorrow will be a good day

BBT,

Not really sure I understand your question.As for any correction for this counter..well nothing ever goes up in a straight line .But you should have some comfort as NTA is RM1.70.Then again, many many counters trade below their NTA also.

Possible privatisation potential maybe one of the reasons pushing the share price up.Other reason could be a re-rating of Kajang/Semenyih land banks due to MRT.

The company has said they may utilise part of RM200 mil cash on hand to purchase new land bank possibly in Indonesia, develop rubber product biz in Southern Thailand and also jointly develop their existing land bank ( approved for development already I think) with another Property/Construction company.

BBT,

ya loh...I remember Dali wrote about its hidden assets sometime ago.

What is really really interesting ( my detective work over Deepavali) is that a shareholder by the name of Ng Ah Chai has been buying big time over past 6 months, incresing his holding from 9 million shares to over 32 million (7.7%) as of last week.Who is Ng Ah Chai?

He is current MD for SYF resources Bhd and is friendly with Dato Clement Hii od SEGI.

Insiders buying at a very strong level past few weeks.Something could be brewing...

Chart looks fantastic.Company has over RM200mil in cash (50 sen/share in cash alone) and NTA around RM1.70.

Guys,

Today is the last day to buy MBL cum entitlements to 1:2 warrants.Should be worthwhile exercise to go through.

Guys,

Impressed with Q2 numbers just like you.The purchase of Able Dairies indeed a master stroke , what more with net profit guarantee of RM10 mil for FY2012, the deal was done at PE of only 3.1 times.

OSK research paper talked about Johotin also getting into evaporated milk manufacturing soon.All in all, the propects for this counter looking better and better.

SK,

Info available straight from Bursa 's website and not from any insider.
As part of sale of Able Dairies, MD agreed to stay on at least until 2013 ( I Think) to assist with business integration plus there is also the matter of profit guarantee given to Johotin.Again , this info from Bursa's website.

Refer to OSK report re details of rights issue and possible plans of proceeds.The report is quite comprehensive.

Able Dairies was purchased with a RM 10 mil PAT profit guarantee for FY2012.So can expect contribution from F&B division of about RM2.5mil for this quarter.Plus profits from tin manufacturing.

More interestingly, MD for Able Dairies bought 2.5 milliom shares at RM1.70 a week ago from another substantial shareholder.Able Dairies was
purchased on 31 Oct 2011 for RM 31 million satisfied with RM 27 mil cash and 4 million new shares at RM 1 par value , when the share price was trading around 83 sen then.

So if the MD of Able now buys 2.5 million shares at RM1.70 after 10 months, it gives me a fair bit of comfort going forward with this company.

Not to forget expansion plans for new factory and upgrade of existing plant from proceeds from forth coming rights issue, OSK has new target price of RM2.38 for Johotin.

I think the rights issue is not so taxing to shareholders.Share base is just under 70 million shares and at 1:3, only issuing 23.3 million shares only.

Of course what is unknown for now are the price of the rights and warrant exercise price.All these do affect the share price in the coming weeks.

But looking at how the share price moved after 4pm today leaves me to predict more upside tomorrow (fingers crossed)

Those are known as 2 call rights issue, some paid by shareholders (usually 60-70% as you have pointed out) and the rest from retained earnings. I don't think that is what Johotin are proposing.

From the announcement, only confirmed matters are the Rights Issue ratio is 1:3 and one free warrant for every rights subscribed and that the warrants are for 5 years.The rights price and the warrant exercise price have not been determined by the Board yet.

At the end of the day, whatever shape the corporate exercise takes , bottom line is the fundamentals of the company.I think Johotin is in the right sector, strong balance sheet and have prudent management.

I suppose you are right.Anything that is free beats paying for it.
But if rights price is not too demanding, then together with the free warrant, it should be viewed positively. At least Johotin is fair as ALL shareholders get to participate proportionately based on their shareholding, unlike some placements at discounts done by some companies( no one knows who these placees are).

But I think if you read the announcement, most of the money from the rights issue to be used for construction of new plant and upgrade of existing plants due to increase in demand for their new F&B division.Shareholders money is usually the cheapest form of funding, cheaper than bank borrowings.