Before The Edge bought Star shares the share was trading at around 30cts for a long time. Lately Tong's write up on Star has attracted a lot of attention. I wonder what is happening to the Star new building in Section 13 PJ which is worth more than 130 million.
I am a long term investor in stocks. Just being honest and not trying to people to buy so that I can sell for profit like some old uncle Koon. I am in the top 20 shareholders list and I feel that this is an opportunity to accumulate more shares as the price drops. Buy cheap and you already make money!.
Abigail has 5% more to sell. Wait for bargain price on the way down. Have been collecting for sometime but felt frustrated with the downtrend. Have experienced the same situation in Star Media when ASB kept disposing their shares during the past few years. Good thing that The Edge bought over their remaining 5% + in Star recently. Just watching to see when the downtrend makes a turnaround before I buy again. Today hit 61cts!.
All interested parties or person connected with them will abstain from voting. So the decision is up to the minority shareholders. Good to have The Edge as a check and balance on the actions of the Major controlling shareholder which is MCA
Save for the following Interested Parties, our Company is not aware of any other Directors and/or major shareholders of our Company and/or any persons connected with them who have any direct or indirect interest in the Proposed Disposal: (i) Tan Sri Dato’ Sri Kuan Peng Ching @ Kuan Peng Soon, being the Interested Director who is the Deputy Chairman and the Non-Independent Non-Executive Director of our Company with a direct interest of 3.64% and indirect interest of 0.46% in Matang held through Unique Bay Sdn Bhd pursuant to Section 8(4) of the Act; (ii) Malaysian Chinese Association, being a substantial shareholder of our Company with a direct interest of 43.23% in our Company, also has an indirect interest of 17.15% in Matang held through each of Huaren Holdings Sdn Bhd and Rohua Sdn Bhd; and (iii) Huaren Holdings Sdn Bhd has a direct interest of 2.13% in our Company and as noted above, is a substantial shareholder of Matang with a direct interest of 16.28% in Matang. Rohua Sdn Bhd does not hold any shares in our Company as at the LPD. It has a direct interest of 0.87% in Matang. As such, the Interested Parties will abstain from voting in respect of their direct and/or indirect shareholdings on the resolution pertaining to the Proposed Disposal at the forthcoming EGM. The Interested Parties have also undertaken to ensure that the persons connected with them, will abstain from voting in respect
Foreign Fund keeps selling the share down. Dont buy any share above 62cts. I guess the share will drop below 50cts in due course due to the persistent selling pressure as they are in a hurry to exit from Success Trans. Poor dividend return cant justify holding on to the shares - how can the fund perform with such low dividend payout?
Please read The Edge review on the sale of property to Matang. I agree with the Edge that the related party transaction does not benefit the minority shareholders of Star. Vote against the sale proposal at the EGM on 30 MAY2023!
Hopefully with the Star business hub development project the income will increase in the years to come. The high rise office block at section 13 when occupied will generate good return in future. Just hold on for me to collect dividends just like REIT shares.
Ha Ha ... buy when everybody is afraid . That is the way to make some money. Better than putting money in the bank at 3.3%!. If drop to 34 cts then better still . Just pay for the nett cash value and all the rest of the assets are freebies.
JM : This blog is so quiet now. I guess almost everyone who has bought WTK shares have lost money and the price is toughing all time low. I am collecting at 45C and hold for medium term at least. Cash already 32C net. THeir palm trees are young so the plantation segment will continue to loss money for a few more years until they are more matured. I don't expect big profit now but in a few years I hope the earning will go up and up. No risk no gain.
Net cash is worth 32cts per share. So actual cost to buy the company is only 13cts per share!. Someone can take over the company for only RM45m only!. I thought the family problems does not interfere with the business ops. Sad story of family infighting after the patriach is not around to control business.
At 45cts a bargain price. Current capitalisation RM214m. Net cash RM169m. Excluding all other assets, Palm oil asset alone valued at RM1530 per acre. Just wondering why there are insider Alfian selling his shares?. Any answer please.