Great article... on the intrinsic value of Kfima's share. The author knows what he is talking about.

http://greedydragoninvestment.blogspot.com/2013/10/invested-in-kumpulan-fima-part-1.html

Omg alex give buy call after so long ask for consolidation.... tomorrow must sell already de....

hahaha you again ah alex, that day say Inari also kaput... hapseng kaput, you man man wait lah... forever no need to buy.

Stocklearner.. even if debt ceiling not passed, the treasury already said interest payment will guarantee to continue follow by salaries for troops and police as current tax receipts are more than enough to pay those.. The other fats such as government aid, medicare etc will suffer. USA will not default.

Boleh why tak boleh? You as minority shareholder also can do the same thing wat...

buyback 20 times, shareholder only sell a few times.. ok wat

Kfima has a vary bad period in 1999, in which their brokerage business almost brought them to bankruptcy, at the time it was heavily leveraged with lots debt. Due to this scare, Kfima has been very conservative ever since as the near death experience taught them a lesson in debts.

Oh yeah security printing business also print all your passport, IC and driving license as well. So have to thank you all for contributing to KFima's business. :)

BSNGPG : In fact plantation is NOT Kfima's competitive advantage, although it contribute 30% of revenue/profits.

KFima's MOAT is in Bulking and Security printing.

For bulking facility, a ship will often offload chemicals into a bulking tank very fast as temporary storage, this is done so that the ship does not have to wait in port too long and incur heavy demmurage charges. The reverse is also true when exporting liquids .The liquid product is then deliver/recieve using conventional trucks. Major customers of Kfima's bulking facility include palm oil refinery, oil and gas, latex & other chemicals. Kfima's bulking facility is located in Penang port and West port, and they are the only such facility at these port. Income will be from rental of tank and/or throughput calculations. Overhead cost are low, and since no competitors at these particular port, they are essentially toll collector. Kfima has been building new tanks continuously since the last 5 year.

For security printing, they own 20% of G&S which is responsible for printing the new malaysian currency. Other security documents include bank cheques, confidential documents. govt documents etc. Many people do not know that Finance ministry have 1 GOLDEN share in the security printing bussiness. This assure they will have continuous monopoly (otherwise the top secret documents will leak out).

Canning contributes only the other 10% of profits, not exciting but growing at a reasonable rate. in 1H13 they have begun canning tuna to export to Europe under OEM trademark. Last time they only do sardines.

Park 1-2 cent higher at 4.45pm, most probally share buyback will scoop up your shares. :P

You as a minority shareholder can also sell back to share buy back what....

So it's legal...

For Kfima don't look at CPO price, they have 20k ha of land in Kalimantan, since they are continuing to plant, more and more fruit is going to be harvested. Even CPo stays flat, they will still have growth. Actually last 2Q for all plantation is record low harvest, from the info i get this coming Q and next Q will have bountiful harvest.

Defensive industry in bulking facility (like a toll road for liquid import/export), security document printing.

Food business is consumer based, usually provide stable income, last Q down because of forex losses on kina (PNG's currency)

Jeng jeng.. witness the power of share buyback. :P

goreng goreng...

Stupid news and stupid clueless reporter cause panic selling at end session today.. hahahahahaha

I was reading this article.. wanna laugh out loud..

http://www.thestar.com.my/Business/Business-News/2013/09/23/Cash-rich-Kumpulan-Fima-to-face-MSWG-query.aspx

- The writer makes zero research... where he get all the info?

"Kumpulan Fima operates pineapple estates and it is also involved in canned pineapples processing and cultivation of tropical fruit. Its other businesses are cattle farming and transportation services."

- KFima major business is bulking, plantation, canning and security document printing.

"Cash-rich Kumpulan Fima, which will hold its shareholders' meeting on Tuesday, could see some questions brought up by the Minority Shareholder Watchdog Group (MSWG) about its lower pretax profit despite the higher turnover.

MSWG would also bring up matters such as how the contracts secured by the company were negotiated in terms of margins and also the number of years.

In its first quarter ended June 2013, Kumpulan Fima posted a net profit of RM14.61mil on the back of RM112.8mil in revenue. Earnings per share were 5.41 sen.

Its manufacturing sector however, posted a lower pretax of RM52.1mil (FY2012: RM54.3mil) despite higher turnover of RM201.87mil (FY2012: RM193.67mil)."

- A little bit drop in profit also want to query meh? Those company straight loss no one query also?

No diffrence, is insider doing share buyback, we minority also benefit what, so whats wrong?

We just sit back and enjoy the ride wat..... anyway this not some penny stocks with zero fundamentals, the valuations are wide open for all to see...

As long got by back no problem to hold, the company sponsoring the share price. If later buy back stop, better don't hold.. hahaha.

Once reach 10% they will likely issue share dividend like last time...

Very steady stock,, everyday up a few cents...during downturn holding steady, too bad those who miss the boat. Thanks to all the buyback, this share is like a rock.

Not to mention CBIP have pioneer status for their palm oil mill tech and enjoy 0% tax...until 2016

palm oil mill construction and truck modification is >80% of thier earnings.. CPO price does not matter. As long as got plantation keep planting, mills will be required.

You guys should see the CIMB subsidiary CIMB Niaga in Indonesia, price has fallen almost 30% and selling at PE 5.5x cause less earning...

no 'oomph' ?

Dont forget the outstanding 200 mil warrants dilution factor...

Yeah you can always HOPE it will be goreng again.. but looking at daily volume... errr you tell me? :P

Lets do the maths..

1Q13 (before split and BI) : 5.75 cents /6 = 0.958 cents
2Q13 (After split and BI) : -0.37 cent

Total for 1H13 = 0.958 -0.37 = 0.588 cents
Lest assume 3Q & 4Q perform better and give 1 cent each

Total FY13 = 2.588 cents. PE = 0.80/0.02588 = 30.9x

Ok lets assume super 3Q &4Q earning double give 2 cents each (highly unlikely looking at CPO price)

Total FY13 = 4.588 cents. PE = 0.80/0.04588 = 17.4x

Worth it?

For FY13 you will be lucky to get 3 sen EPS for the wholes year, means currently TDM is trading at nearly PE 30x...

75 cents? Where got worth that much.. colect when reach 70 cents is more like it. Just look at the earnings.. earnings don't lie. At 70 cents before BI and share split is equivalent to RM 4.20.. still on high side.

Sorry that should read 18.1 cents. As expected lower revenue from investment, but overall good earnings. Whole year eps expected to be 60 cents.

Still 18.8 cents annualized will be about 75 cents. Means mnrb selling at about pe 4.

Still very much undervalued. Where to find company with billion dollar revenue, high dividend selling at such price?

crawler, their first hospital expansion will only be ready by 2H14....how to grow big fast? :P

IMHO TDM only worth 70 cents...

Lol vote no confidence? How many shares you got? like <1% all combined? HAhahaaha

Most of their pineapple plantation already convert to palm oil lah. Thier canning factory also change to canning sardin already. More or less the pineapple business is negligible.

share cancellation = anti dilution = higher eps

TP 17 sen sounds just about right for a money losing company...

time value of money... you may need to wit 5-6 months for the money...

EPF losing to FF selling pressure...

next support? 6.99....

Indonesian bank loss as rupiah and JSE crash...

Those that is hoping for a fantastic Quarter might be disappointing. Although the insurance business remains robust, it might have to mark to market its large investment holdings in MGS bonds, so the next earning from investment will likely be flat or only slightly positive.

Currently MNRB has NET cash & investment for sale (mostly bonds) (after minus debt) at ~ RM 5/share. At current prices the business entity of MNRB is being sold for free.

So far hapseng previously never cancel or re-sell treasury shares, last time in this similar situation, they give out bonus shares.

Dividend distribute after AGM, will announce by end of this month. Proposed 32 cents less tax.

Max a company can buy back shares is 10%... now already got 8%.. unless they distribute to shareholders, they cannot buy more if reach limit.

Hapseng is very ripe for 1:15 share dividend ... treasury shares already holding near 8% of total stocks.

"Reports about European lawmakers backing a proposal to limit the use of biofuels in the region’s transport sector coupled with higher than expected soy stockpiles by the U.S. Department of Agriculture sparked selling pressure in the market,"

CPO now 2,174/ton = lowest since 2009. Good luck all holders. :)

what forecast rises up?.. still at RM 2200+, last year peak at RM 3000...still long long way to go.

CPO price follow soybean oil price not crude oil price.

2Q harvest already announced by TDM, poorer than 1Q. 3Q&4Q is expected to improve but not spectacular.

New hospital not ready until 2H 2014.Kalimantan plantation still have a lot of planting to do.

many here don't want see fundamentals, only want to chase hot stock... most probably most don't even understand your calculation. :p

no need next week... resistance 0.90 already broken...