BANGKOK (June 14): Thailand's King Power Group, the nation's largest duty free retailer, said it plans to spend 12 billion baht ($340 million) on buying the remaining 60% of Asia Aviation Pcl.

King Power's chairman, billionaire Vichai Srivaddhanaprabha, and his family announced on Monday they had bought a combined 39.82% stake in Asia Aviation for 7.95 billion baht.

Asia Aviation is a major shareholder in Thai AirAsia.

朱冠華, Read the above carefully! Is your latest posting heading correct? You cannot even get this right! How on earth you can write so many postings on AirAsia?

朱冠華, On you latest posting with heading: 《东尼大砲說有10亿美元收購，實價才14亿令吉! , the 14亿令吉 is what King Power Thailand paid for taking up shares from Thai AirAsia's current partner. It is not the 10亿美元 on the leasing business. I am surprised that you cannot even get this right! No wonder you are always asking questions than providing answers! It could be your English is so poor that you cannot even read correctly! You are really a joker in the blog.......

BANGKOK (June 14): Thailand's King Power Group, the nation's largest duty free retailer, said it plans to spend 12 billion baht ($340 million) on buying the remaining 60% of Asia Aviation Pcl.

King Power's chairman, billionaire Vichai Srivaddhanaprabha, and his family announced on Monday they had bought a combined 39.82% stake in Asia Aviation for 7.95 billion baht.

Asia Aviation is a major shareholder in Thai AirAsia.

朱冠華, Read the above carefully! Is your latest posting heading correct? You cannot even get this right! How on earth you can write so many postings on AirAsia?

BANGKOK (June 14): Thailand's King Power Group, the nation's largest duty free retailer, said it plans to spend 12 billion baht ($340 million) on buying the remaining 60% of Asia Aviation Pcl.

King Power's chairman, billionaire Vichai Srivaddhanaprabha, and his family announced on Monday they had bought a combined 39.82% stake in Asia Aviation for 7.95 billion baht.

Asia Aviation is a major shareholder in Thai AirAsia.

朱冠華, On you latest posting with heading: 《东尼大砲說有10亿美元收購，實價才14亿令吉! , the 14亿令吉 is what King Power Thailand paid for taking up shares from Thai AirAsia's current partner. It is not the 10亿美元 on the leasing business. I am surprised that you cannot even get this right! No wonder you are always asking questions than providing answers! It could be your English is so poor that you cannot even read correctly! You are really a joker in the blog.......

朱冠華, Can you pull out any of the AirAsia audited reports on P&L, Balance sheet or Cash Flow? Highlights and tell the world where you see the problems. I like to know as well. If you cannot, then just shut up and don't pretend you know something that all of us don't know and we are all stupids. If Tony or AirAsia had pissed on you before, just tell the world.

朱冠華, I noted the last 5 articles you wrote from Jun3 to Jun 10 are all ending in questions than answers. If you are going to help those that read, you must have more answers than questions, otherwise, it just show that you know nothing in this area. The last 3 months, the upward price movement of AirAsia were supported by smart money. These guys are not stupid, unless you think you are smarter than them.

MKH CFO retires: http://www.bursamalaysia.com/market/listed-companies/company-announcements/4787929

KC, can you comment on Insas up and coming warrants? The rights for RPS is still on trade at the moment. The RPS comes with two free warrants! Thank you.

militia, appreciate if can you explain how you arrived at the theoretical PR price?

Note 8 cent is "interim". Is there another payment?

Between more bonus shares or more dividend, my choice is more for dividend. Look at the case of Wellcal. I believe MKH will be way beyond the billion dollar club very soon if only they announce a good dividend policy.

Coming Chinese New Year is at end Jan. It is likely that coming AGM will be in January. So, it is within 2 months that we can find out more at the AGM. Hope to see some of you guys there!

If you click on the link provided by lcng123 on 27/11/2013 16:02, you will noticed the 25,996 mt is FFB recorded for the month of September. The Star paper reported it as 25,996mt per hectare per mth. My guess is the Star reporting is wrong. Also, note the 224,037 mt of FFB recorded for 9 months of this year. Whatever in the link is the same content on the latest Edge Weekly.

lcng123, I was wrong on the online subscription. The weekly EDGE is on subscription. It is RM222 yearly. I normally just buy hard copy.

It is a hard copy which they sell every Sunday! It is 5 ringgit a copy. The weekly EDGE is not online yet. The daily EDGE is free for ipad user.

If you read the EDGE weekly today, there is more exciting news on MKH. They are in the process of negotiating for another 20,000 hectares.

The 25,996.64 tonnes is the FFB for September month alone. In the EDGE, it was stated just for 9 months, they have recorded 224,037 tonnes of FFB.

25,996.64 x 12= about 312,000 tonnes

224,037 x 12/9= about 300,000 tonnes

If you take the lower number, FFB is already 20 tons/hectare (really good for current tree age)

Going by these numbers, there is a likely chance of achieving 25~28 tons/hectare a year down the road.

Yes, the 2.40 is also adjusted price with increased share base. The pullback was 27% (from 2.40 to 1.75). I believe many fundamental guys holding this stock then must be puzzled! The "Mr.Market" effect will continue to be there and those fundamentally well verse with the business can actually profit from it.

Sometimes it is hard to understand the market. If you look back just about a year back, MKH peaked at early July last year at about 2.40, then it retracted to about 1.75 in mid to late Feb this year (a period of about 8 months). Me and my friends were asking the same question as to what happen? After this major pullback, it took the next 3 months to soar up to about 2.80. It has since moved sideways for about 5 to 6 months now. I guess trying to use rational mind to understand the "Mr.Market" is going to be difficult.

Could it be due to T+3 pullback today?

http://www.thesundaily.my/node/230221

If MKH continue to report good earnings in the next few quarters, the market will definitely re rate its share price. MKH is still a relatively low profile counter. If earnings keep improving and dividend kept at least around FD level, it will definitely attract many investors attention. One way share holders can help is to participate in the next AGM and request the board to consider increasing the dividend to 8 cents/share instead of the usual 5 cents/share. At current share price of 2.60, 8 cents will give roughly a dividend yield about 3%. Good dividend yield is necessary to support valuation.

bsngpg, you are most welcome!

If you read MKH's latest Q3 report, In the business segmental section, you will noticed the revenue for plantation has shot up to about 76 millions, Q2 was about 43 millions. My estimate for Q4 is about 110 millions. Q3 margin is about 27% not including interest expenses. Rightly, margin should improves with revenue increases. You would also expect interest expenses to reduce as cash flow is also turning positive for MKH.

By 2017, the trees ages are 5 to 9 years. The average FFB yield should start peaking. Many plantations has low average FFB yield due to wide tree ages spread. In case for MKH, the tree age spread is narrow, within 4 years (the planting started in 2008 and completed in 2011). In this case, a higher average FFB yield of 25 to 28 tons can be expected. Oil extraction rate of 21% can be expected.

Depending on CPO price and MKH's average production cost per ton, an efficient house can still have a margin of RM1,000/ton @ RM2,300 CPO price. Read United Plantation 2012 annual report for margin references.