Companies here like to buy back their own shares when market has turned against them. Most of the time their intention is just to cushion the fall.

In Daya case, I dont think its a worry sign. Demand is out there right now. They are right to sell shares for cash. After all they need cash to push for the expansion plan. They need cash to the extent that they have to re-award a construction works few days back.

So dont you think its a good move?

If I were to pronounce ur name more than 1000 times in a day, can I prevent you from using ur name?

Wait it to reveal why directors cum substantial shareholders were sacked suddenly.

"Norway has excluded five companies from the investments of the nation’s sovereign wealth fund, the world’s largest, for taking part in activities that damage the environment OR for being linked to child labour, Bloomberg reported."

Local timber firms WTK Holdings Bhd and Ta Ann Holdings Bhd were excluded alongside China’s Zijin Mining Group and Peru’s Volcan Cia Minera SAA.

This was done on the basis that their activities risk causing severe damage to the environment, Bloomberg said citing a statement by the Oslo-based ministry.

India’s Zuari Agro Chemicals Ltd was also excluded “based on an assessment of the risk of contributing to the worst forms of child labour,” it said.

From these writing, WTK TAANN - their activities risk causing severe damage to the environment
Zuari Agro - contributing to child labour.

Lets see how WTK respond. If they are hiring child labour, they can be sued under our own labour law.

Based on AR 2012, Norway fund is not listed as top 30 shareholdings. I believe their investment is insignificant as WTK market cap is not large enuf to be invested by any of these large foreign funds.

WTK and TA ANN were excluded because they are timber related, not because of child labour.

This news would not affect the company at all. The western country like to ban this and that on 'ethical ground' or what not, just like palm oil industry. No surprise.

Nowadays, company share buy back does not mean it is good anymore. If the majority shareholder disposing way below the 'reported' NTA (they are selling even lower than CASH PER SHARE!), no matter how great the figure look like, one should avoid. There are plenty good shares trading below NTA with proven track record, why take unnecessary risk?

the latest quarter looks good indeed. their restructuring exercise was successful and Eurozone showing SIGN of improving (better to wait few more months for firmer data). However, there are still unexplained question (very important):

1. Why would he keep dumping shares for the past one year regardless of price? Is he too rich?

2. What is happening to the cooperation with CSL? CSL has divested some also recently (less than one year after share swap!)

A falling knife worth catching.

Agree to the average down strategy. but do it only if one has enough buffer. This stock needs 2-3 more months to ripe.

Besides the work in progress merger mentioned by viper88, I think investor has overlooked the recent land acquisition & JV at Rawang.

Rawang: The Next Puchong?
http://www.prolintas.com.my/2013/07/up-and-coming-town-accessible-via-gce/rawang-next-puchong/

"Beware when playing this counter...always a one day show. The directors has accumulated a lot of shares below 60 cts. They are in the process of distributing the shares to unsuspecting players from 80+ cts till now. Mark up and then distribute...their usual strategy."

Sorry, I dont see any divestment from directors for past few months.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/#/?category=all&sub_category=all&alphabetical=All&company=9318

Is it really that bad? Read again:
1. EPS grow from to 10.11 frm 7.35 (+37%)
2. Look at the cash balance, frm 35m increase to 132m, FCF is at 90+m
3. Due to reason no.2, proposed div has increased. this could tell Gadang is on the road to be a growth company which offer decent div as well (DY 3% depending how much is ur entry cost)
4. In addition to its robust construction and property segment, take a look at its two promising small segment (utility and plantation) - utility div hav their GP increased by double! this can further justify that the dividend payout definitely can be better in future. Not to forget they in the process of acquiring a stake in hydro power plant that offer IRR of 15% for 30 years!

Im optimistic about the future :)

A good quarter result in coming days together with the finalisation of investment in Indonesia power sector (though a small investment but crucial) is enough to bring it into next level.

It just cant stop 'scoring' :)

Ripe for ride spot on :)

Could be different this time as 4th quarter annoucement is nearing

Dont think it will break new high untill more clarification on the callaboration and a Thailand project worth RM100m that the CEO mentioned in a interview last month.

How to differentiate whether it is European or American style?

New contract again :)

0.775 :)

Spot on! Not even one among the research house mention about the high receivables. I wonder how they justify all the debts are collectible.

It will stop falling once the CEO has done with his disposal, almost everyday. And now the company is starting to buy back the shares.

The revival of this stock is tied to revival of Eurozone, which is expected in 2015

Hi KC, mind to forward me a copy as well?

kai8994@hotmail.com

Thanks!

Wheat price is on downward trend.

http://www.indexmundi.com/commodities/?commodity=wheat&months=60

Theedge have an article on this in its latest weekly issue. Valuation to be done within 3 months from date of announcement (29 April), still have some time to go, be patient.

“We think the market will start looking for new large-cap ideas to continue to ride on the buoyant infrastructure and Iskandar Malaysia themes. With Gamuda and UEM Land Holdings Bhd have already been rerated and over-owned, interest should filter down to MMC,” said the analyst in the note.

Isn't Mudajaya a good construction company as well? It is not related to Iskandar though.

I wonder HwangDBS's 'strong conviction buy' on MMC applies to Mudajaya or not...

the disposal will be accounted in last quarter. unless the mgmt dcided to declare special div out of sudden, otherwise have to wait for the next announcement which is in Aug.

the litigation is nothing new. it wont affect the price. the price fluctuate a little bit once in awhile is due to profit taking/exist from some of the impatient shareholders.

The thing that I can never understand about this company is how on earth got people subscribe for the private placement for RM1 when the share price is below 70cents...

Have to wait another 3 months.

The 6% tax is same as govt tax that we paid at restaurant. Actually quite a number of services are taxable out there such as professional services. Parking operator usually won't show the tax amount, but include it in the total amount paid actually.

In this case they show it to customer probably is to create awareness because sooner or later, it will appear on all receipts.

Disposal finally completed 2 days ago. Now we can hope for windfall

User, just want to clarify net asset per share of 0.78 is not equivalent to cash 0.78 per share. Its cash per share is around 0.14

And the price has been manipulated not to shoot up since last week.

That water offer is not related to KHSB.

Indeed it is a sad news to hear. This is second time Mr Ooi decided to quit and I think this time is for real.

I really hope we do learn and act like an adult. If not this forum will soon lose all the genuine good investor/trader, and left back only joker.

Thank you Mr Ooi for sharing your knowledge and experience. All the best to you! Thanks =)

The management set a moderate KPI for FY2013 though. Target revenue of rm800million is less than unaudited FY2012 figure. Share price likely to trade range bound for the rest of the year, unless there is new developement.

Just realised MSWG is organising a forum on 28th Feb

Damn! Latest net asset per share stands at 2.3705. where is MSWG?

The coming announcement should be a good one. somebody had been accumulating quietly for past one week

i'm still keeping some as quarterly annoucement this month might spur the price abit. but will definitely offload after that.

The magazine that kc mentioned may be 'Share Investment' which can be found at Popular Bookstore, RM15 each. It looks like this:

http://majalah.co/index.php?route=product/product&product_id=63

Since Im loking at the FS, would like to contribute a little on the breakdown.

Capital expenditure(Capex) = Purchase of PPE + biological assets expenditure
=12,302 + 14,132

But I found the int paid is only 733. Have to wait Kc to explain further. TQ

It lacks near term catalysts. Govt is focusing more on campaigning now. Pengerang project will bring bad publicity.

Thats the fate of minority shareholders. very unlikely he will fail this time.

its 5900 only.

Just to share some info on the O&G deal.

http://cgmalaysia.blogspot.com/2013/01/protascos-puzzling-purchase.html

MEMORANDUM OF UNDERSTANDING PETRONAS and BASF terminate Heads of Agreement for joint project in Pengerang, Malaysia

Not a good news for Benalec i suppose?