Maybe someone should suggest to Johotin, if Can1 is not selling its dairy unit, maybe Johotin should approach KWAP to sell its 30% in Able Dairies......just a thought....

Anybody attending Kian Joo's AGM tomorrow?

Anybody attending Can-One AGM next week?

Procedural wise, Can-One cannot announce until they received KYY's notification that he has acquired >5% of its shares. Technically all shareholders' information are kept by the CDS and not Can-One. So it does not have the obligation or information to make declaration on behalf of anyone who has acquired >5% shares unless it received notice from the shareholder himself.

If you ask the previous ED whom I bump into recently, he will tell you gearing is never an issue for Can-One. Else how can Can-One survived without dividend from Kian Joo for so long.

Maybe those who felt that Can-One was acquiring the balance 20% at sky high price may now jump in to say that they want higher price for the sale now.....lol.

Ya...you are right. Cancelling after KJ announced 20% increase in revenue and record profit, and extensions after extensions (during which oil price does not drop???), suddenly EPF sees plastic as a threat. Brilliant!!!

KWAP said they will acquire 30% of F&B.....valuing F&B > market cap of canone!!!

Aiyo....so negative.....whether the deal is off or not, can-one is still undervalued.

The Aspire deal to sell Kian Joo is officially off. Now what?

The Aspire deal is officially off!!! Now what?

Question is - will Can-One still accept RM3.30 as fair price for Kian Joo? The price was fixed 3 years back. Value of Kian Joo has changed a lot since then.

Local council no longer issue CF

Heard that the launching of new factory at Teluk Panglima Garang was in mid December.

One quarter of not-so-profitable result don't make a counter bad. Only cause panic selling. The entire 2015 results is still quite impressive.

hunting999 & Sheldon, the deal require shareholders' approval and they need 75% of shareholders to approve before this become a reality.

(please verify) If they offer to shareholders under voluntary general offer, they only need 51% to control the company.

Also, I think the offer was made when the See family still have representative in the Board. Otherwise, there will be no court cases concerning this already.

Hopefully we can see an end to this entire saga soon.

I was angry when they buy Kian Joo at RM1.65 per share when the share price of Kian Joo was lingering around RM1.20-RM1.30. (and having to incur huge huge borrowing for that purposes and waiting for a few years for the court case to settle). But I have no complain with the share price of Kian Joo nearly doubling what it was then.

I was puzzled (I think most of us here are, including MSWG who wrote an article about it) why the remaining 20% of F&B were bought at such a high price. If the news is true, I would be happy now to accept the high price because dude, the food business's valuation just increased 41% just over 1 year.

I must declare that i hold the share since its IPO, not because I like the business then, but I like the name. :-)

Can one!!!

anti_debt, this counter is always know for high borrowings. But look at what they have done over the past 10 years.

In 2005, the revenue was 167m, profit 15m, net assets 112m but borrowings 92m. Scary?

Look at 2015 numbers, revenue 886m (up 430%), profit 84m (up 460%), net assets 636m (467%) and borrowings 543m (up 490%).

Performances like this surpass those of Kian Joo whose profit grows 167% over the same period and Johotin whose profit only doubled over the past 10 years.

But this counter is definitely not for the weak hearted as they always make moves which seems illogical to the investing public.

anti_debt, if no one borrow money, all the bank will have to close shop already :)

Actually debts is the cheapest form of capital and it can be extinguished if the company manage the cash flows properly.

Companies without debts can collapse too if they dont know how to manage their cash flows.

Read the Star today, next week will be interesting for this counter

Capital commitment numbers are scary.

Still holding at this level despite announcing a so-so results.

If not for a gain on disposal of RM3.3 million, Johotin only breakeven for Q4! Plus the borrowings has increased 60+% and we are back to high inventory level at RM130 million.....

Kian Joo incorporated 2 subsidiaries in Myanmar.....is it a good move to go into this totally new market?

Oh! Incorporate 2 subsidiaries in Myanmar. Is it a good move?

Mr Koon, thanks for sharing. Agreed with you in pricipal that market overeact on good and bad news, this is the nature of the game. But I beg to differ on the example quoted.

On Johotin, the stock price has risen sharply as people like me expect it to show great improvement in its results, and you notice in this forum, someone is so excited and equate dutch lady vastly results to potentially great things on Johotin. It didnt happen. Expectation had already been built in the share price then. So the drop may seems to be natural because it did not meet expectation.

As for Can-One, the stock price has risen sharply too in anticipation of good set of results, especially after Kian Joo has announced an impressive results. When the results was announced, the excitement was gone as the good results has been fully captured in its share price. Bursa query is also not exactly bad news too.

Just my humble 2 sen worth of opinion.

Also a friend who dealt with them told me that Can1 only sent 3 people to manage Kian Joo after acquisition. The current MD, COO and CFO. Thats it. I guess they must have some 霸气to do that.

Kian Joo also has shown improvement of results in the past 3 years. All i can say is they are both hateable but yet loveable.

bsngpg, agreed with you with the assessment of the major shareholders. But look at it on the positive side, if the are not 牛enough, Can1 shareholders may not enjoy the fruits of Kian Joo now.... a lot of people may not even start tendering for Kian Joo shares, let along to wait for 3 years for the court cases to settle.

But at least, what ever they do....whether is Aspire deal or acquisition of balance 20%, it is done transparently.....and that is important.

Plus performance has been superb over the last 10 years, if you compare to Johotin, 90% same business, listed roughly a year earlier with almost the same set of numbers at that time.

Xu Yu Fu this quarter no. of share is higher to account for new shares issued to acquire the balance 20% of the diary unit

Will share price rebound tomorrow? After such a strong quarter?

Usually Q4 very strong......can-one!!!

hahahaha.....I rest my case.....

Sorry my mistake. I thought this is a public thread.

You wont hear from me until next quarter.

Dear retail investors.....trust these fellows at your own perils. From today's conversation you can roughly know who you cant trust. Best is do your own homework before you invest. You blame nobody but yourself for your decision.

For I-con, I can only salute. From a high moral ground of f***ing Can-One directors for "stealing" to your comments here today, you are the real deal....hahahahaha

Rocket launched terbalik!

The explanation for the UMA, if it comes - drop due to the previous UMA...hahaha

But I personally think this counter is bigger and better compared to Johotin.

Bro icon will appear after he has found inspiration to write part 9 on Johotin and why Q4 will be even much better.....

But my 2 cents worth, the Q2 results is a one-time affairs. Revenue almost doubled for a simple fact - to get rid of old stocks accumulated in 2014 (high stocks - another comment which I have made in this forum). That's why you see the stocks reduced so much in Q2 and reduced further in Q3.

Furthermore, the new factory has yet to be ready even by now, how would the revenue nearly doubled in Q2?

To me Q3 is the normal results of Johotin which we can benchmark on. Not Q2.

There is a great mismatch in expectancy of its EPS. I mean to expect 10sen (or even 7 sen) EPS and actually get 3.5sen.

If you want to invest, must do some homework lah, rather than relying on bloggers. If you care to check, the CEO of JTB disposed 326k warrant at 0.841 per warrant on 19/11/2015. A comment that I have made in this forum but brushed aside by someone......

But if you just want to speculate, the bloggers will serve you alright.

Don't get angry. I am just stating my 2 sen worth.

Despite constant swearing from bro icon, I personally still prefer Can-One, bigger, stronger and shrewder.....unfortunately at the price now, it may have priced in already the Kian Joo factor...lets see the coming quarter report then compare with Johotin.

Here a lot of hard core supporters of Johotin.....dont try to talk sense to them. Market is unpredictable anyway....hahaha...

Let's see how Can1 perform then the comparison will be meaningful.....

Directors and substantial shareholders disposed shares and warrants even during closed period.

Results....results....when are you coming out? Hopefully not an anticlimax like Johotin

Don't worry bros, tomorrow bro icon will come up with part 9 to rationalise the performance.

Bro, please check the announcement on bursa website. Directors Goh Mia Kwong, Edward Goh, Kamaluddin & Ng Keng Hoe (Substantial shareholder) had disposed off warrants and shares in the past 1 month. Go check.

Aspire deal is dead in the water already. Share price already > RM3.30.....

Don't think that is the motive as all these numbers are reported, not hidden. Just an explanation will be nice.

Some observation from the quarterly announcement not reported by the news portal:
1. The actual improvement of results is actually better from reported. Last year's profit include RM12.2 million one-off gains from disposal of property by a joint venture. If you take that of, the profit improved 64% qoq and 44% yoy
2. No explanation is given on the high foreign currency reserve which shoot up almost RM40 million
3. NTA per share also shot up from RM2.56 to RM2.88. No explanations was given on that too.

Noticed from their announcement that directors and substantial shareholders has been slowly disposing shares and warrants.....

Kian Joo has delivered an impressive set of results, can-one next

Damn good profit....but damn no dividend again

Few thoughts to share on Johotin. I mentioned in here before that this company has to properly manage 2 risks - inventory and forex risks.

High inventory was a concern by end 2014 and even Q1, 2015 but it seems that it managed to convert those inventory into sales. Which is good. Inventory dropped RM130 mil to RM113 million.

While the Q2 report, at one glace showed significant improvement in sales and profit, is the improvement that exciting? (it definitely is exciting according to Icon who is a staunch supporter of Johotin and the biggest hater of Can1 - LOL)

1. Last year Q2, Johotin were affected by quality issue and need to compensate the customer in a region of RM8 million. If you add this in to "normalise" last years profit, the year-to-date profit has actually stagnated despite huge improvement in revenue.

Improvement in revenue is good. Without revenue, you don't even need to expect any profit.

2. The company suffered a forex loss of RM4.3 million year-to-date. Can-One and Kian Joo both recorded forex gain. Strange since they are in similar industry operating in similar environment.

3. Sales to related party (See Note A13) has increased from RM1.6 million to RM7.9 million

4. B11 is a very interesting note because I think they forgot to update this note. The figures has remained unchanged since December 2014 which is impossible given that the derivative financial instrument was used to managed USD fluctuations and USD rate has gone up by so much. There is definitely a hidden gain or loss not accounted for or it had been accounted for elsewhere, but we would not know the quantum since we don't know their hedging position from the quarter report.

Strangely, they have derivative loss reported in Note B8 but the balance sheet amount does not move.

5. Cash and bank balances has reduced. Borrowings has increased. Net borrowing increased from RM43.8 million to RM56.1 million. Still not a concern as the gearing ratio is still below 0.3.

6. A10 is another interesting note. It seems that corporate guarantee given to banks to secure facilities granted to subsidiary has decreased from RM81,688k to RM67,966k. This can only happen under 3 circumstances:
a) The subsidiary repaid fully the loan and corporate guarantee no longer needed and withdrawn
b) Some facilities had been cancelled either by the company or the bank
c) Error in reporting

The quarterly report also offered no clues as to the forex exposure.

Make your own conclusion.

Relax....it's only Q2. A lot of the problem can still be deferred till Q3 and Q4. Don't think it will be too bad.