Company bought more than 300 million KBunai shares a few years ago at around 15 sen a share. Now disposing of at only 5 sen a share.

Already up 7 sen over the last one week. Those who had bought at 34 sen last week should have made plenty of money by now.

Increase offer by 50%, sure he can.

Maybe Chen is buying. The independent adviser has advised small shareholders to reject the 5 sen per share offer. As of 26/05/16, 23.86% of KBunai shares were still being held by the public. Chen needs to own at least 90% of KBunai shares for the unconditional voluntary take over offer to become successful.

The directors control about a third of Facbind's share capital.

Don't worry, there are a lot of institutional buyers around. CIMB should be worth around RM 4.80 to RM 5 a share.

People seem to be very worried that the directors may siphon away the company's cash. Otherwise Facbind should be trading at over RM 1.80 share.

Not much hope of a quick turnaround. Shall buy only if it dips below RM 2.50

So many people scrambled to sell at RM 4.39 as if CIMB would go bankrupt overnight.

Not likely to fall below 50 sen.

Suffers heavy foreign exchange losses. Company had RM 430.6 million worth of US$ and RM 218.4 million worth of Sin$ on 31/12/2015.

Privatization offer price RM 5.50 per share. Company for sale asking price RM 25 per share.

Opportunity to buy CIMB shares again. Don't miss it, buy slowly.

If someone wants to buy KBunai, this Chen would surely demand for over 15 sen a share. Now he is only able to offer 5 sen a share to small investors. He is really savvy. All of us must learn from him.

Only the relevant authorities can stop such kind of rubbish from materializing. If they don't act, this would be another case of helping the rich to become richer and making small investors victims.

When the government acquires ks's land bank, the directors would surely demand to be paid at market price. When the directors decide to privatize ks, we can only hope they remember to revalue its land bank.

Very high possibility of dropping to 5 sen after the capital reduction.

Should avoid this counter completely. Very little chance of going up.

As expected, final dividend remains at 6 sen or a total payout amount of around RM 21 million. The value of its holdings in US and Sing dollars has dropped by several times this amount over the past 3 months.

We don't know if the major share holders themselves are selling or banks are selling the shares pledged by the major share holders as collateral.

Compare to its peak over a year ago, TA has dropped by 50%.

Hope it is not just a flash in the pan.

Moving again after a long , long time.

EPF and MUFJ keep selling CIMB. Some other foreign funds must be buying.

Possible. Just buy 1,500 to 2,000 acres of Keck Seng's plantation land and Kech Seng's share price would likely shoot up to RM 10.

We hope the directors don't privatize Keck Seng. Most companies won't revalue the assets they hold in a privatization exercise. Assets would only be revalued only when someone wants to buy Keck Seng.

Keck Seng is trading at a discount of 75% to its actual NTA. I don't think you can find another counter listed on Bursa which is trading at such a huge discount.

Keck Seng's latest NTA at RM 5.95 per share, was based on 8,800 acres of plantation land near to the Pasir Gudang industrial estate at RM 5,000 per acre ( market price at least RM 400,000 per acre); menara Keck Seng and Regency tower at RM 55 million each (total market price for two at least RM 300 million) and lots of other undervalued properties/assets. If small investors keep selling Keck Seng at this level, the Directors may be tempted to privatize the company.

No good news except that it is grossly undervalued. Very unusual for such a big bank to trade below its NTA.

Please read all my earlier comments. If not because of an overstatement of RM 40 million in its foreign exchange loss in the final quarter and an impairment of quoted assets which was included only in the final quarter, Keck Seng would have made almost RM 30 million in its final quarter instead of losing RM 53 million. Correct me if I am wrong and I would be grateful.

In the first quarter of 2014, Keck Seng only made 6.54 sen a share with no foreign exchange loss or impairment of assets. Its share price was over RM 6.50. Wasn't the result bad?

With MUFJ and EPF still selling quite aggressively, it has to be the work of some other big investors that has caused CIMB's share price to rise by over 15% over the past few weeks.

CKWan11d The first three quarters appeared rosy because Ringgit was steadily losing ground against the US and Sing dollars and Keck Seng has plenty of these currencies. For the first 9 months of the year, the reported foreign exchange gain was already RM 123.36 million, third quarter gain alone was a staggering RM 102 million. The final quarter saw Ringgit gaining some ground and the company incurred a foreign exchange loss of around RM 13 million but the foreign exchange loss for the final quarter was stated as RM 54.7 million or an overstatement of over RM 40 million. Again the company included an impairment of quoted assets amounting to RM 56.7 million in the final quarter. No impairment of quoted assets was included in the first three quarters. Without the overstatement of these two items, the final quarter would still be very profitable.

A word of advice all investors, we should read all available information and not just limit ourselves to the summary of key financial information which could be misleading.

"What is a 'Currency Forward'
A binding contract in the foreign exchange market that locks in the exchange rate for the purchase or sale of a currency on a future date. A currency forward is essentially a hedging tool that does not involve any upfront payment. The other major benefit of a currency forward is that it can be tailored to a particular amount and delivery period, unlike standardized currency futures. Currency forward settlement can either be on a cash or a delivery basis, provided that the option is mutually acceptable and has been specified beforehand in the contract. Currency forwards are over-the-counter (OTC) instruments, as they do not trade on a centralized exchange. Also known as an “outright forward.”"



Read more: Currency Forward Definition | Investopedia http://www.investopedia.com/terms/c/currencyforward.asp#ixzz41dZlK2Iv
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Abstracted from Investopedia. I hope you can understand

USD worth RM 333,737,000.00, not USD 333,737,000.00 and you still have to deduct US currency forwards amounting to RM 93.653 million. Imagine if Keck Seng has USD 333.737 million and Sing$ 370 million, how much do you think its cash would be in RM?

tt101, I am afraid you are mistaken. As at 31/12/2014,Keck Seng had RM 15.565 million in Canadian dollars; RM 370.450 million in Sing dollars and RM 259.581 million in US dollars, making a total of RM 645.596 million held in foreign currencies.

"To my understanding, any impairment losses is not time-based. You can't 'spread it out equally over 4 quarters. If you can spread it over 4 qtr, why can't anybody spread over 8 qtr?"

The company suffered impairment due to falls in the shares it has invested. The drop in share price didn't occur entirely during the final quarter but throughout the whole of 2015. Isn't it logical
to include the impairment losses in all its quarterly reports? Since the company didn't do this in the first 3 quarters, I just assumed that the impairment during the final quarter was equal to 1/4 the impairment for the whole year, a fair assumption. Why spread over 8 quarters?

The interest rate in the US, Japan and the EU is very low.

The company didn't actually lose any money in the final quarter. Its foreign exchange loss has been overstated by RM 41 million and its share impairment by another RM 40 million ( assuming impairment is spread out equally over 4 quarters). The company actually made a profit of almost RM 30 million during the final quarter.

The company borrowed in the US to buy a hotel in New York. Borrowing cost is cheap in the US.

I think the company used US 1 = RM 4 and Sing $ 1 = RM 2.85 at the year end to calculate the company's foreign exchange gain for the year. May be they were being conservative.

I think there is basically nothing that has gone wrong with the company. The management should have included the impairment of quoted investment in the previous quarterly reports instead of only including it in the final quarter. That made the impairment seem huge for this quarter.The stock market has dropped by over 10% in 2015.

As at 31/12/2014, Keck Seng possessed RM 370 million worth of Sing dollars and another RM 260 million worth of US dollars ( 2014 annual report). 1 US$ was worth RM 3.50 and 1 Sing dollar was worth RM 2.64 then. That means Keck Seng was in possession of Sing $ 140 million and US $ 74.3 million on 31/12/2014. As at 31/12/2015, 1 US $ was worth RM 4.29 and hence the exchange gain was 74.3 x 0.79 or RM 58.7 million. As at 31/12/2015, 1 Sing $ was worth RM 3.04. The exchange gain on Sing $ 140 million was 140 x 0.40 or RM 56 million making a total foreign exchange gain of RM 114.7 million for the year, not RM 68.66 million. The foreign exchange loss for the final quarter couldn't be RM 54.69 million. From end Sept to end Dec 2015, US $ dropped by RM 0.11 and Sing$ dropped by RM 0.04. Total foreign exchange loss was thus 74.3 x 0.11 + 114.7 x 0.04 or only under RM 13 million for the quarter. My calculations were based on the assumption that Keck Seng's holdings of US and Sing currencies remained the same throughout the year.

NTA is around 46 sen/share and net cash is over 27.5 sen /share. Hold for 3 to 4 months, it should move above 50 sen again should there be no major falls around the world.

I disposed of MNRB several months ago at around RM 3.15 after a 10% loss, lucky to have sold.

FACBIND's NTA is at least RM 2.50 and the counter is trading at only RM 1.04 and it has over RM 150 million net cash or RM 1.76 per share.

I think the directors take pleasure in keeping the small investors in suspense.

EPF keeps selling Maybank and RHB Cap. I think what many people said ( the worst is yet to come) could be very true. I would just buy back at around 8.30

I think MNRB has lost lots of money again in its latest quarter ended 31/12/2015. Should shun this counter completely. Better to switch to Maybank, CIMB or RHB.

If investors don't buy this counter and allow some people to control its price, I am afraid when it is privatized, the offer price would be somewhere around RM 5.40

What do you guys think is the best thing a company with a paid up capital of RM 360 million, consisting of 360 million shares and in possession of RM 1.15 billion and seems to be at a loss as to what to do with such a vast amount of cash money should do?