issued shares 556m
market capital 353m

The disposal exercise has raised the group cash position to Rm423m
Company borrowing Rm38m
Net cash is Rm423 minus Rm38 is RM385

This means the cash is more than the market cap of the whole company.

Preferential dividend of 5.25% per annum [based on the issue price of RM1.00 per irredeemable convertible preference shares ("ICPS")] for the period from 1 January 2021 up to and including 30 June 2021, in respect of the financial year ending 31 December 2021
Ex-Date 30 Sep 2021
Entitlement date 01 Oct 2021
Entitlement time 5:00 PM
Financial Year End 31 Dec 2021

Sunway –PA
I discovered this by chance. It is convertible preference shares and a cheap entry that allows you to ride on the growth of the mother share and at the same time enjoys dividend payment twice a year. In the past I have never invested in any preference shares. After some studies, I found this one is intrinsically valuable, attractive and in fact irresistible.
Sunway –PA was created by people who have profound wisdom, deep insight and enormously huge amount of knowledge and intelligence with a clear vision and mission to add value and make money. It was undertaken in a manner in which fertile water was flowing back into the owner’s field. In short it benefits them and those people who seize the opportunity to patiently ride with them freely. This is an extraordinary example of entrepreneur with great minds whose PROFIT is made at the time of buying.
On 6th Nov 2021 Sunway issued a circular that it was offering to sell 977m RCPS at 1.00 of which 600m+ of original rights are eventually allotted to the owner because annual reports say the family own 64% of the company. The RCPS comes with 5.25% of excellent interest. Considering commercial banks now pay 1.8% for FD, hence SUNWAY is paying 290% more than the banking rate. This in itself is already unusually attractive.
The RCPS is convertible into mother share at Rm1.00 a ratio of one PA for one mother sure. On 6/11/20 even before it comes into existence, the mother share was trading at 1.25 that is 25sen above conversion price. The potential paper profit is already 600m x 0.25 is 150m.
When the fund raising exercise was completed and started trading on the 8/12/20 share price has gone up to 1.45. This means 45sen above conversion price or a paper profit of 600 x 0.45 is 270m
In just a few months the share price has hit a height of 175 and now holding firmly at between 160 and 165. That is 60sen above conversion price or a paper gain of 600m x 0.60 is 360m.
In addition to this paper gain holders of 600m PA will enjoy 600m x 5.25% or 31.5m interest payment annually or guarantee a total of 158m until maturity.
The PA has huge potential. With every passing day, it is moving towards maturity and the price gap will be getting smaller. Because the exchange ratio is 1: 1eventually, the PA will catch up to the mother share. When that happens in 4 to 5 years’ time Tan Seri could make billion when share price hit beyond 2.50. This may or may not happen but it has great potential and realistically achievable.
The catalyst include divestment or listing of Sunway Healthcare Holdings, expansion in retail pharmacy through M&A – MULTICARE, new venture into Digital Banking just to name a few.
I can’t analysis profit and loss account and much less understand about cash flow statement and has no ability to unmask the strength and weakness of balance sheet.
My investment method is simple and that is to follow the smart, rich and famous. Today we are counting Tan Sri’s money. Hopefully someday we can see our profit.
Please be forewarned. Investing in the PA is unexciting and could be very frustrating and boring because it is illiquid. Some famous investment Guru would say it is like watching paint dry or watching grass grows. The daily trading volume is inordinately small.
Nonetheless, the rewards will come slowly, surely and safely. This is not a recommendation to buy. If you buy, there is no guarantee you would make profit. Instead you will feel good, great and awesome to be associated with a company whose name and logo is a symbol of trust, quality and excellence.

It was great and awesome to see Ta win share price shot to the sky and hit 45sen quite recently. Regrettably, by one master stroke the management has successfully bashed it down to teen penny stock.The corporate exercise to raise fund involving a 3 : 1 right issue at 6sen a share has massively enlarged the share base by 2.556bn new rights shares. The enlarged issued share capital has ballooned to 3.4bn shares. The new shares are burdensome and have somewhat damaged the capital structure. It is earning dilutive and will hugely diminish the future earnings per share EPS and hence the long term share price.

Although the company has made huge progress the management must be mindful that Ta win is still a loss making company and remains in the red for the last eight (8) quarters.

Just as we thought the storm was over, the management has immediately initiated another corporate exercise to reward the shareholders and employees with free warrants and employees share incentive scheme. Some experienced investors would view the free warrants as an exceptionally clever but devilishly inventive sweetener by the management to keep the large number of minority shareholders from massively selling the additional rights shares. Truly, a sell down has been seemingly avoided.

In addition, the management has envisioned that the indicative exercise price of warrant would be 13.5sen hence making it irresistible. Fixing the exercise price at a discount and the forthcoming warrants trading in the money, the company foresees and expects total conversion that would again add 1.49bn new shares. And of course when this happens the company would be enriched by RM200M in addition to the RM153m it has just received. When the 500m SIS comes on stream the share base will be close to 5.5bn.
What is the implication of having of 5.5bn shares capital?
It simply means to make an EPS of 1sen the company has to make a profit of 1% x 5.5bn that is 55m. If the company is efficient and has a profit after tax of 10% it will have to generate a turnover of 550m to make 1sen EPS. That is burdensome.

Although many minority shareholders are bleeding and have to endure the losses, they remain steadfastly loyal and have great faith in the management. Sadly your major partner has partially abandoned you by disposing tens of million and ceased to be a substantial shareholders.

We are not fearful even if the price keeps falling. However,it will be horrendous and extremely unpleasant if the management does not follow through with all the projects and keep its promise

Freight Management Holdings (FMH) is also a logistic company that is well managed and in the same category with Harbour. The company has just reported profit of 6m for the 3rd qtr and the cumulative 9 months profit is 18.4m. This compares less favourably with Harbour that announced 13.98m and cumulative 9 months profit of 35.4m. These profit performance numbers are vastly different.

FMH company has cash 47m and long term debts of 57.7m and short term borrowings of 33.5m which adds up the total borrowings to 91m. Again these numbers compare acutely unfavorably with Harbour that has 213.2m cash and borrowing of 66.3m
FMH company has reserve retained earning of 192m whereas Harbour has retained earning of 249m. It pays 2 sen dividend and Harbour pays 1 sen. It balance sheet is weaker and free cash flow from operation is lesser and its gearing is higher compare with Harbour.
Despite its less attractive numbers yet FMH is trading at RM1.78 and has a market capital of RM497m whereas Harbour is sadly trading at 90sen and a market capital of 360m.

Basing on these numbers of comparison i believe someday Harbour which is currently unknown, unrated and not cover by analyst will someday move closer to FMH when the public investors get to know this lesser known company.

This logistic company is quite well managed. Company just reported profit of 13.98m for its 3rd quarter. The cumulative 9Mths profit is 35.4m and this has exceeded one whole year profit of 26.6m for 2019.
The company has cash 152m, investment securities 25.6m and other current assets 34.9m. These add up the liquid cash to 213.2m. This number is impressive. Its short term borrowings is 29.5m and long term debts is 36.8m ,Therefore total debts is 66.3m and the gearing is manageable.
Company has 249m retained earnings and pay 1sen dividend. It has strong balance sheet and sound financial ratio. Share price is on the uptrend but the volumn traded is not very great. Market is always in favour of gloves, plantation, oil n gas and lately steel but NOT logistic counters. Hopefully, someday it will shine.
30/05/2021 1:12 PM

The PA is a better investment from hereon. There is a 47sen discount.

Today the Sunway PA is worth the interest payments for 5 years plus the value of mother shares. That is (52.5 x 5) + 1700 = RM1962.5. For this to happen, you must wait 5 years.
Alternatively you can calculate the Present Value of a series of payment RM52.5 every year for 5 years plus RM 1700 at the end of 5th year. SO,

PV {5% PV Factor} = 52.5 [0.95+0.91+0.86+0.82+0.78] + [1700 X 0.78] = RM1552

Share market is not engineering science. It is an art. There are hundred of factors influencing buying behavior and selling patterns. As at today market is only willing to pay 1220 for the same thing that is worth 1552 today and 1962 in 5 years. Its true value has been sadly neglected. Someday it will catch up. Hopefully..

JPM is surprisingly vindicated hardly 3 months after analysis report.

Suncon a subsidiary of Sunway announced good result.
See what will sunway announce on 25th.

No IR and mgmt does not address investors' concern. Investors are anxious and distressed. Without clarity, they are shifting their interest elsewhere.

Unlike IOI which has upstream and downstream industries, KM financial performance is quite straight forward. You can track it in advance with reasonable accuracy by monitoring its monthly output performance that has been announced in Bursa.

Here are the numbers

3Q 4Q % Diff
FFB 68990 56355 (18.3% )

CPO 75497 56274 (25.4%)

PK 19187 12913 (32.6%)

profit 33.16 ???

KM will announce its 4Q result in march. Basing on these numbers, it is quite unlikely to match 3Q performance.

incredibly insane.

The company announced 28.8m profit. This is 109% better than last year corresponding figure, but 13.05% lower compare with the current year preceding quarter. Although the average selling price of Rm2865 /M/T is high, it is not enough to mitigate the huge fall in FFB and CPO output for the 3 months ending Oct 2020. KL has a very strong balance sheet and continues to generate huge cash flow. Considering the current 9 month financial performance and the CPO and FFB output for NOV month, I would envisage the whole year EPS to be around 12.5sen.
The fair value at various reasonably acceptable PE multiples are as follow.
PE 12X IS 150
PE 13X IS 162
PE14X IS 175.

All is not lost. In my opinion,the 3 sen special dividend would sustain the share price.

Good strategy. Smart move.

It is unwittingly reckless for a good company to produce a clip and use social media, internet, i3 platform to undertake investors relation (IR) functions to promote the company. You unknowingly and unintentionally degrade yourself and attract the wrong types of investors who are mostly short term opportunists, contra players and day traders.
To create impeccable image and reputation,the wise thing to do is for IR to organize analyst briefing and invite quality investors such as Public Mutual EPF Prudential and local institutional Funds to come on board.
Until then the counter will see volume & volatility and unsustainable share price.

3rd quarter result announcement is due today. Disappointingly it has not being announced yet.

At the start of the pandemic in Feb this year the share price was 1.25 If you have purchased 1 lot or 1000 shares, your investment have grown exponentially and insanely. During this 9 months, the company has rewarded its shareholders with a 1 for 1 bonus issue plus 1 for 45 share dividend.
In the end you end up with 2044 shares. The value of your investment has become 2044 x 6.39 = Rm13063 .
For Rm1250 it has ballooned to 13k or about 1000%
Despite the fall, long term investors and bosses still enjoy bumper harvest when the year 2020 comes to an end.

You can fool all the people some of the time, and some of the people all the time ,but you cannot fool all the people all the time.
Let's see by next year 2021 whether this famous quote by A.Lincoln is meaningful and respectful.

Is Fintec also a major shareholder of Focus Dynamic. It Could have huge paper gain.

policarp, You are so correct. Bottom line is don't
try to play God. This is what you said,but I meant otherwise.

In this scenario
The ignorance investors represents the Mouse Deer.
The BIG 4 represent the Lions

AT is the owner of the safari. It create excitements, organize the game and collect rental.
It is watching through a binocular from a far distance with safety and comfort.

It is immensely difficult for a small Mouse Deer no matter how smart you think you can survive, how fast you think you can run, and how high you think you can hop,yet it is fatally stressful to survive in the Glove Safari of 4 big Lions. Someday it will end up as dinner.

The ICPS is strong and not falling.

I wrote this to stimulate thinking and offer my personal perception on the new comers with regards to their ambitious plan and strategic business diversification and penetration into the gloves sector. Are their business decision safe and sound we can only know years later?
I have concern and worry and somewhat anxious for those new comers who have committed to spend exceeding hundreds of million to build factory and set up production lines to produce and sell gloves.
Assuming they are able to keep the production running and producing, there is absolutely no way they can compete with the big 4 in terms of cost, quality, facilities, output optimization deliveries and professional services. Whatever they can produce the big 4 can do it cheaper and better. Glove is a commodity with no product differentiation. This is a volume game and the nature of competition is focused on bestselling price which is fiercely competitive. Talking about volume, take TG for example a company that produce 90b gloves a year. If its team of engineers can improve the production and quality and reduce the unit production cost by 1 sen, there is Rm900m saving. This is bigger than the market capital of many companies listed on Bursa.
The big guys being in existence for decades definitely have a cost advantage over the new comers. They can sell at below the manufacturing cost price of their new competitors and still make a profit. Hence, it is somewhat unwittingly ignorance to think that one can simply jump onto the prosperity wagon of pandemic and enjoy a smooth ride with easy profit in the glove sector. I tend to imagine it is akin to a small Dolphin no matter how good and smart it think it can swim its survivability and sustainability in a wide ocean glove market of sharks is quite improbable in the long run.
The recent roll out and the beginnings of mass inoculation of vaccines has already dampened the market sentiment of the glove sector. Abnormally huge profit does not push up share price anymore. Ironically, when TG announced 2.3b profit, it share price actually fell consecutively for the next 3 market days. So has supermax.
In two years times when the covid 19 is behind us the demand for gloves will shrink. And when too many companies are chasing for the fewer orders, the competition will be severe and intensified. Average selling price will collapse. The new kids who lack manufacturing experience, data, formation, technological knowledge and wisdom are ill prepared for this eventualities and challenges. There will be consolidation and causalities. John Kennedy famously said when the going gets tough the tough get going. Those who do not have a cost advantage and market edge a strong character and determination to withstand the severely competitive nature of the industry will be finished and vanished,

Thank you very much for the invaluable information. It is undeniable that kimloong is a well managed company with healthy balance sheet and strong net cash flow. Its plantation although very small only 15.3k hectares are well managed and efficient.
Kimloong actually derived most of its revenue from mill operation. I believe its OER is better than many other companies in the plantation industry.
I am not aware that it has a grid that hook up with the local authority that could bring in 6m revenue. In additional, It is hope that the high price of CPO trading above Rm3500/ mt will help to mitigate the slight fall in output and yield in the coming qtr announcement. I like kimloong and it has all the ingrediants of a value investing company. Over time its hard work and result and performance and true value will be reflected in the share price.

You cannot compare Apple with Lemon.

Have not seen a daylight since its listing many years ago at 120.It is a great challenge to try to hold onto this counter.

When is the commencement of production and the roll out of 1st piece of glove.

PA is making small effort to narrow the huge price gap today. Investors are beginning to see the intrinsic value in the preference share. Closing price and volume traded were impressive. Hope it is sustainable.

It takes time for PA to catch up to the mother share. Over time the gap will narrow and will become hugely diminish as it moves closer to the expiry date. This will happen slowly safely and surely.

Correct. I do not see any logic in their action. These are short term weak holders with myopic investment prospective. If you pay 1160 per lot today and over a period of 5 years the company pays back interest of 52.5 x 5 = 262.5
you cost becomes 1160 minus 262.5 = 897.
Convert it and sell in open market at 1570 the profit is 673.
Take 673 divide by 897 is 75%
Sunway will soar higher when the RM1b proceed form the ICPS are use wisely and mightily for the expansion of the hospital n health care and when covid is behind us.

invest icon - Today Sunway and sunway PA go in opposite direction. Mother share up 3 sen but PA was down 3 sen. what is the logical explanation. Have you any clue?

excellent

why?

Considering the current operating envieonment in the midst of covid 19 , i think the result is considered good. It will sustain the share peice. Otherwise, downwards pressure is limited.

why don't they sell focus dynamic (FD)and realize the RM796 m profit. Considering FD has been making loss for the last 14 years since 2005. its revenue is less than 10 m per quarter except for the most recent qtr it has a turnover of 22m.
The net tangible asset for FD is only 2.2sen
it has 6.132b shares and trading at 69sen with a crazy market capital of RM4.232b How can such a tiny company worth 4.23b. it is mind blogging and difficult to understand. Can someone explain.

what is the news? . Maybulk shooting up.

very strong buying interest accompanies with volume today.

ICULS is irredeemable unsecured loan stock. Sunway is issuing ICPS irredeemable convertible preference share. The conversion price has been fixed at 1.00 (need not calculate ). Preference share is like a loan and that's why it pays 5% yearly interest. you can choose to convert into mother share beginning on the 4th year. Otherwise it will be automatically converted at the end of life on the 5th year.
There is no additional cost upon conversion because holders of ICPS have already paid for it.
The conversion ratio is one icps for one mother share. Due to its conversion nature, holders of ICPS can also directly participate in the growth and development of the company. when sunway enjoys earning growth the share price will go up. so, does the price of ICPS.

Trading of Rights will begin on Monday 9th Nov and ends on the 19th Nov.
Last day of payment is on the 26th Nov. You can sell the rights if you choose not to subscribe.

1.This company has enormously huge amount of accumulated losses of (136m).
2. has never made any profit since 2007.
3.revenue per quarter is less than 15m - ( tiny company )
4 cash on hand 807 thousand only
5 Trade payable is huge 53.4m
6 seriously needs money for working capital.
7 company with weak balance sheet and unsound fundamental
8 Caveat Emptor.

Lately during MCO the company undertakes two disposal
1. sold plantation at 158m and realised a gain of 122m
2. sold shares to BJ Corp at 80m and realise a gain of 32m
The company will announce additional profit of 154m at year end.

in addition, the cash position will be boosted by 238m. Together with the current cash on hand of 121m , KUB will have potential cash of 359m when the transaction is completed at year end.

The company has 556m shares and debts of 82m assuming it can reduce it further by 10m.
then, the net cash of the company is 359m minus 82m is 277m.

The net cash per share is 277m divided by 556m shares is 50 sen.

Given that the share price is 41 sen and the potential net cash per share of 50 sen is like a fat toad jumping on the street. Beside you also get few hundred million of assets for free.

Considering the above financial facts it is unwittingly wasteful to ignore such a great bargain.

This balance sheet of this company has improved substantially since the entry of former finance minister a year ago. In 2019 March the company has cash 99.2m and interest bearing borrowings of 114.2m plus 24.4m. So the total amount of long term n short term borrowing is 138.7m. Basing on the latest 1st Q result. the borrowing has substantially reduced to 92m and cash increased to 121m

The company is going through the process of rationalization by disposing off non core business.
The latest announcement was the disposal of plantation in Johor at 158m in which KUB will realize a disposal gain of 122m by end of 2020. The proceed of disposal will increase the cash balance of the company to 121 +158 = 279m. Assuming the company can reduced the borrowing by another 10m at year end, then the borrowing would be 82m. If we take the cash 279m minus 82m debts the net cash of the company by year end would be 197m
The company has 556m shares. that mean the Net cash per share is 35.5sen
At its recent low of 35.5sen just last week also means investors who bought the share in KUB is fully supported by equal amount of cash and investor got the rest of the assets for free.

when is Mahsing holding AGM?. Unable to find its announcement.

Agreed. Because they are selling so new investors can acquire at low price.

EPF is still an obstacle. it is blocking the price from going up. Even if it ceased to be a substantial shareholder it still has 120m shares.

EPF has 126m shares according to announcement on changes in shareholdings. That is huge.

Technically speaking, an inverted hammer that has happened on 8th Apr represents the potential reversal in an uptrend has materialized. Mahsing has retreated for the third day. With EPF aggressively selling 3m shares a day the fall will persist. It is a good opportunity to buy cheap for long term value investing. .

The share price of Mahsing has recovered sharply over the last 12 days. It has moved from 31sen to an intra day high of 46.5sen today. That is an enormous 50% rise. From the technical analysis point of view and basing on the candlesticks graph, we have a inverted hammer today. Graphically, it meant the price opened at 43s and than push down a little to 42s and later followed by massive buying that drove the price up to 46.5sen only to be met with massive selling that eventually forced it downwards to close flat at 43sen with huge volume exceeding 24m shares traded.

Technically speaking, an inverted hammer represents the potential reversal in an uptrend.
As in Mahsing, the strength in the uptrend is now hugely diminished this evening or no longer exist in the immediate term. Today's exceptionally high volume also meant the institutional fund is still selling. Mashing will face a small correction before it resumes its upwards momentum. And more aggressively when the fund decides to stop selling.

There is value in this company. Just the net current assets less total debts is worth 1.02 per share
However, this does not mean it will shoot up to this price. It only means one has found A company that is worthy to invest in because it is selling cheap and there is a huge margin of safety. (102 - 40 )./ 40 = 1.55 or 155%. We do not buy mahsing and expect a helicopter rise or a V shape recovery.
In fact it can have a U shape and perhaps even a L shape and prolonged consolidation.The attractiveness of investing in this company is the downside risk is minimal.

Mahsing is selling below par value now. Usaharta has ceased to be a substantial shareholder.Once it stops selling, the rise in price will be gradual and smooth safe and sure.