ha ha ah... clarissa888, what do you mean stupidest share? Shares got stupid one meh? people can be stupid in making bad decisions but i don't see how shares can lo. why get so worked up? it is going to be 2014 d. new year d.

epf buys what it buys with its reasons la and in this case, they want to support regional champion. regional champion means going into risky countries like myanmar, vietnam, indonesia etc where return can be great with the corresponding risk. success not guaranteed. dividend payout definitely be affected.

as for family feuds, what family feuds? the Sees are no longer the main drivers.

slow, maybe i wasn't clear. i didn't sell because i want to capitalise on the 3.30 offer fully (every 1 sen drop is clearly going to benefit those who held on because of the ceiling price). i don't have benefit of hindsight and never expected the board to get drawn into the petty issue of land valuation which add zero or little value to the argument for higher pricing.

if the kianjoo board delays it further, i might just sell though or complain to SC that the board fails to act in the interests of all shareholders by letting them vote on this matter. afterall, why should i settle for less than 3.30?

slow, let the shareholders decide. i am still holding out for the vote simply because the major shareholders ie canone and epf would very likely to vote for major capital reduction and div up once the acquisition is complete. anyway, it is quite cast in stone d once they successfully sell their businesses as it will be classified as PN17 - cash rich listed co with no biz.

canone is geared to buy its present 32.9% stake + represents 100% gain to them. epf meanwhile will also benefit because they have been a long-term investor in kianjoo even before canone acquire their stake (their gain might be higher). wouldn't this alone be a big compelling reason to do capital reduction and div up?

slow, how is the offer too low? the market price right now is only 3.14. offer price of 3.30 represents a premium. you can scroll above and read my comments. it doesn't make sense to argue it is low unless you already bought at higher than 3.30 to begin with.

With the continued tapering concern, the outflow of funds is happening right now. Even kianjoo share prices came down to 3.16 right now. Why is kianjoo board still wasting time? Quickly give an answer and let shareholders take a vote on the proposal.

From the Edge Daily:

KUALA LUMPUR (Dec 16): The rate of outflow of foreign capital from Bursa Malaysia remained high last week with RM625 million last week, making it the 10th week running, according to MIDF Research.

In a note today, MIDF Research said this was the longest stretch of foreign selling activity this year.

In the last ten weeks, a total of RM5.2 billion net of foreign funds had left Malaysian equity, it said.

With the continued tapering concern, the outflow of funds is happening right now. Even kianjoo share prices came down to 3.16 right now. Why is kianjoo board still wasting time? Quickly give an answer and let shareholders take a vote on the proposal.

From the Edge Daily:

KUALA LUMPUR (Dec 16): The rate of outflow of foreign capital from Bursa Malaysia remained high last week with RM625 million last week, making it the 10th week running, according to MIDF Research.

In a note today, MIDF Research said this was the longest stretch of foreign selling activity this year.

In the last ten weeks, a total of RM5.2 billion net of foreign funds had left Malaysian equity, it said.

as a kianjoo shareholder, I would definitely vote for the disposal.

to be frank, i have a good run with kian joo. i also wish sometimes the party will go on. but you know what? if i did that, i wouldn't have sold my first property and use those money to roll into another investment. and from there, i buy and sell and try other investments. some go up, others go down. overall, i still gain. if i let sentimental feelings control me, i will be struck with my first property and only watch paper gain but zero money in my pocket.

now my house loan is effectively fully settled and i have other properties in my investment portfolio.

with certainty in gain, better to exit. don't put in sentiment and muddle the whole thing. nothing is always the same. things keep changing.

just about one year+ ago, people also asked can canone buy kianjoo? it is negative, both are competing, don't add value and so on (see sapurakencana and kowchye commentators above). so perhaps they sell and make some money.

then now got commentators saying selling result in profit cut half, should not sell as kianjoo's adding value because share prices now higher. but future is not drawn in one direction only ie up, up, up.

so let's be honest la, ask yourself as an investor, having 100% hindsight, of course you cannot be wrong right? but we don't have benefit of hindsight ma. so how?

on rethinking it, kianjoo board is actually wasting a lot of my time. they should quickly vote and come out with a decision instead of talking about land & buildings revaluation. it is not like by valuing higher then aspire will raise the price. afterall, EPF also have to be accountable to their contributors i.e. you and me.

let the shareholders decide once and for all. this tapering thing is starting to erode my shares investment elsewhere. it will only be a matter of time before it affects kianjoo too if not for this aspire offer.

also, think for a second la. if they sell all the land and buildings, are they going to operate from the air? or perhaps they want to move to kelantan or terengganu to operate instead? obviously they need to find replacement to operate from right? there is such things as good instrastructure, transportation charges, etc to consider right?

any right minded person plus their dog can tell you land is expensive nowadays in Malaysia especially on the west coast of malaysia.

*smack head*

NBV at end-2012 for land & buildings = 311.2 million + investment properties = 23.8 million. total = 335 million. Since cpng already quoted from the Edge it can easily be RM200 psf versus book value of RM117.07 psf, we use 2x. So NBV of land, buildings and investments properties x 2 = 670 million. Assuming it is 700 million - 335 million, that works out about extra 365 million revaluation.

Divide this with kianjoo shares of 444,167,786. That equals to 82.18 sen extra on top of NTA per share of 2.29 at end-2012. 2.29+0.8218 = 3.1118 versus offer of 3.30.

That means aspire insight still give a premium of 6% on top of revalued land and buildings. but is that the whole story? what about annual depreciation of plant & machinery and others? plant & machinery alone depreciate at about 40 million per annum means reduction in NTA at 9 sen less per share. so including this depreciation, that means 3.1118-0.09 = 3.0218, making it a premium of 10%.

but is aspire insight buying on breakup basis? don't kianjoo need to operate their factories to do business?

this is a management buyout. meaning what? means chee khay leong see great potential after he left can-one when he joined kian joo in 2012 (hello, read between the lines). kian joo is a bigger platform for him to go regional. but to go regional, it sounds nice but it is not easy. so he partners with EPF. EPF already stated their goal is to support regional champion.

one thing you guys don't see is chee is a COO of can-one before he left to be COO of kian joo. it means he is well qualified and experienced to run the company. if not, why will EPF partner him? EPF already said they don't intend to run the company but let the professionals run it.

as for can-one, what do they get? you all got read quarterly announcement or not? can-one is heavily geared to buy kian joo. with this, they can not only repay their debts, they also realise a lot of unrealised gain from this (like in 2012, they recognise something like rm135 million).

anyway, i don't know how this US tapering will impact our market. ringgit fell from 3 right after May election to 3.23 - 3.24 now. for international investors, that is a lot of FX risk to manage so they may pull money out soon. read bloomberg la, it is already starting to exit from thailand, philippines and indonesia. you think we will be spared? for all i know, if this exercise don't work out, the prices will fall and then with tapering... hmmm.

super911, why am i kidding? you ask yourself first what is high. 20x? 30x? 50x? you compare with johor tin and can one la. what is their traded PE? before you shoot yourself in the foot, think la.

uncle, cpng is complaining about NTA should be higher la, valuation not updated la, bla, bla, bla. then of course have to let him know what is the latest NTA right? if invest don't read announcement must be like visiting uncle lim's shop right? even then, smart gamblers also got strategy.

as for syarikat takaful, why not? RM10 also good. in fact, lets ask for 20. you offer la.

哈!哈!哈! i want to laugh. based on latest sept results, kianjoo NTA is only 2.29 per share. at 3.30, that means aspire insight is paying 1.44 times. that 0.44 times is not premium then what?

as for see family, why you worry? they finally solved their family disputes after so many years. you like your family to fight day and night and don't get sleep or rest? see brothers turn against brothers, uncles against cousins?

cpng, why are you making so much noise? you just went in and loss money is it?

at 3.30, aspire insight is paying for more than 10 times PE. you think buyer life easy ah after they buy this? they are going regional which is not easy market and more FX impact to manage.

even maxis kena some corruption related charges investigation linked to buying aircel majority stake while astro got burnt in their pay tv venture with lippo in indonesia.

anyway, I am definitely voting for it. I might as well get money now, realise my gain and run.