What are you dudes waiting for? The market to collapse tomorrow? For Roger123 to pump lower? For hng33 to do more front-running? It's now than never babies!

BTW, I can extrapolate both companies' PE forward to 31 March 2015 for comparison YOY but my gut feel is, that is a waste of time as PE by quarter fluctuates since it is dependent on the manipulated and unaudited quarterly NP (e.g. KSL's Q4 2014 and Matrix Q1 2015 NP). The comparison based on FY2014 is more valid.

ggg123. Yeah? You depend on analyst forecast of future profits? Almost anyone's 'educated' fart about the future is just as accurate. FY2014 is the complete year for comparison. Comprison based on different YOY is never done by professionals. As I've said, the latest quarterly performance can be manipulated since they are not subject to audit. Full FY figures' better since they are reflected in the audited accounts. Maybe you are right and we should wait for KSL's Q2 results (although I disagree). But for strict comparison and FY2014 is not too out-dated yet, my point is KSL is far better than matrix but for the wolves and rascally KSL insiders!

BTW, if KSL share sells at the same ratio to book NTA as Matrix, its price would be RM3.10. There is no reason why it shouldn't and be even better than Matrix...except for the wolves which conducted many sell-downs with impunity with the very likely connivance of KSL's insiders. KSL's management is armed with buy back authority. The should push the share price to at least RM2; to RM2.50 with better market sentiments to better reflect KSL's fair value. Matrix was spared the raids of the wolves!

ggg123. You are comparing different set of 4 quarters. Correct is to compare the like for like. E.g. Financial Y/E 31/12/2014 or YOY ending 31/3/2015. If YOY ending 31/3/2015, Matrix would have improved PE because of the spike in NP to RM115.4 million for Q1 2015. But this is not sustained as can be seen in the sharp drop in NP to RM29.9 million in Q2 2015. Quarterly results can be manipulated from quarter to quarter to influence the share price since they are not audited. Correct approach is to compare financial year with financial year for two companies even though they may have different financial year ends. Matrix and KSL have the same financial Y/E. If compare financial year with financial year, my figures from Bursa and calculation would be correct.

Don't worry about Roger123. He may clown around - that is his habit. But it's unlikely he is a back-runner to anyone!

My Market Cap is also from Bursa.

Also the latest NTA available from both KSL and Matrix (31/3/2014) shows KSL's as RM2.03 and Matrix's 1.45. Both companies have been making profits since then, KSL more than Matrix in terms of earnings per share. But the difference is KSL's NTA is 40% higher than Matrix. And KSL's land and properties are very much undervalued - at a magnitude of at least 2 to 5 times! That's why KSL's retail shareholders were willing to enter and hold at high price especially after bonus and DRP was declared last year. The wolves and KSL's insiders knew this, hence the repeated raids!

I don't think Azmin will pay much more than the RM250 million offered for Splash - which I think is the replacement cost of Splash's water treatment plant. It will be politically unwise for him to do so. There may be an increase for good-will of say RM50 million but not much more. Therefore if Splash do not want to settle, Azmin will rather not buy.

Better to get figures directly from Bursa.

ggg123. Point noted. I stand by my figures based on Bursa's announcement. As to how I calculate: I divide the NP by the number of shares to get earnings per share and then divide the last closing share price by the earnings per share.

In short, the Selangor water restructuring can proceed with just Puncak and Syabas. And Azmin has RM3.7 billion to play with - at least RM1 billion 'more than you know who'!

Splash is a side-game. If they do not cooperate, Azmin can build more water treatment plants. Langat 2 is coming. Azmin can do without Splash. That's why Khalid the previous MB was offering a pittance for Splash. It was an offer designed to be rejected! Syabas (owned by Puncak) is the main game! With control of the pipes, Azmin controls the water distribution and can name his price for purchase of treated water from Splash. With Langat 2, Splash's bargaining power is further weakened! If Azmin plays hard-ball, he has enough funds to build more treatment plants at likely very much lower cost than the price Splash is asking for! For RM250 million, Azmin can build a very large treatment plant to replace Splash!

But I would say: accumulate KSL now. It will recover..it cannot fall much lower.

ggg123. I compare like with like - Matrix's 2014 results with KSL's 2014 results. Go to Bursa's announcement for the quarterly results. I have even taken out Matrix's bonus 1 for 6 share issue. Even after this, Matrix's PE is only 5.75..still more expensive than KSL's 5.46.

ggg123, KSL is cheaper than Matrix's PE (KSL's 5.46 as compared with Matrix 6.72 based on yesterday's closing prices)! Even their NP margins are comparable even after deducting KSL's RM88 million fair value adjustment (KSL's 31.7% and Matrix's 30.6%)! Kenanga's analysis was last year! The last quarter results (2015 Q1) of KSL at net operating profit of RM82.4 million beats forecast, the previous quarter (2014 Q4) and the corresponding quarter (2014 Q1 after deducting non-operating income of RM88 million fair value adjustment). Yet the share crashed almost immediately. Matirx share price rose instead! Where is the justification for this except for the wolves. And the wolves cannot raid so frequently and bold without the connivance of KSL's insiders.

Kahheong, negotiations with Puncak and Syabas is completed. That's the main game.

For the first time, I hope calvintaneng is correct.

Comparison with Matrix only shows that KSL's price was artificially sold down (4 extreme sell-downs and current down-trend started in March 2014). Since March 2015 i.e. the current down-trend, KSL have 4 smaller sell-downs before the current sell-down due to the falling ringgit. In contrast, Matrix, after the Dec 2014 sell-down (which affected almost all KLSE counters due to Anwar's alarmist remarks on the economy) rose to its all-time high of 2.81 on 21/5/2015. Since then it has 2 smaller sell-downs before its current sell-down starting on 28/7/2015 due to the falling ringgit. It's closing price yesterday was 2.21 as compared to KSL's 1.42. Matrix is not as strong as KSL in terms of fundamentals. So where is the justification for the thrashing of KSL's price if not for the wolves and KSL's insiders. I am minded to try to send those rascals to jail. The evidence is in the KLSE's trading records!

ggg123. Matrix is selling at PE of 6.72 based on today's closing price of 2.22. At PE of 6.72, KSL should sell at 1.74. But KSL has very much undervalued land plus recurring net profit before tax of at least RM80 million/yr - 0ne third of total net profit. Besides Matrix suffered only one extreme sell-down (December 2014) before the current sell-down. Matrix recurring income from an international school and club house is nowhere near to KSL's recurring income!

kahheong, I am only being more optimistic about the Malaysiakini report.

The RM2.4 billion land disposal deal will be completed in 5 independent tranches by early 2018 i.e. over a period of up to 3 years from the date of the CPA in January 2015. That's my reading of the announcement by IWCITY.

hng33. I have tired of clowns like Roger 123. There are many in i3! What do you think of the Malaysiakini report?

kahhoeng, why so pessimistic? Did you miss out something in the Malaysiakini report?!

hng33. Thanks for the advice. I usually check out info. That's why I ask for links.

hng33. The S&P is conditional and the settlement period is up to 2018. Did I read this especially the settlement period correctly? If so, what is your comment on this

Thanks hng33.

hng33. I and not skeptical, just a cautious investor, having been burnt badly before. You said that the RM239 million already paid to TBSB - the 100% subsidiary of IWCITY and owner of the land involved in the sale. Where is the link to this info please?

Thanks for the info. Link please. Perception 'bias' due to being burnt before!

hng33. But I did not spread any info at all. Just voice my feeling that the sales of land can be cancelled in a 'cash is king' (to quote you) market. Can the sale be cancelled? With due respect, What is your well-cooked info...with links please? I am just a poor investor trying to make some money to off-set my living expenses.

hng33. Why so cruel one? Tell us straight lah, with well-cooked info. We are not as sharp as you.

hng33. You did not read my long post yesterday which I deleted after letting off steam? I am still holding the Sword of Damocles over those wolves/insider rascals! Now where is your well-cooked info please..with links?

hng33. Please share your well-cooked info together with links lah!

The market yet to bottom out. Our mad pols not helping!

hng33. There is still a chance that the sales may be cancelled especially in a 'cash is king' market! Between now and 'end 2015' is still a long time in share trading!

NOOb. What do you think will happen at 1360-1400 level?

hng33. There are countless ways to save the economy but only one sure way: Take action now! That was why people are nostalgic about Mahathir - right or wrong, he never set on a problem - he always took action, even if only talking positively but believably!

hng33 is good. He rakes in both the sens and ringgit in profit in a volatile market!

Don't think BN will respond.

Bank Negara need to impose capital controls fast to stop the ringgit. Once it gets past RM4.50 to the USD, economy may collapse!

If the Fed raise rates, China will 'devalue' again. And Malaysia will need to reimpose capital controls.

hng33. We will see!

hng33. Very good conventional wisdom. But if Puncak start rising after deal completion announcement, will be hard to catch it as it may gap up almost RM1.

NOOb. You are correct, correct, correct! Market will come round to your point of view very soon! I could be wrong, but I doubt Fed will raise interests rates after China's so-called 'devaluation'! The move is to show the world that the FED is no longer in control of the world's economy as it once was. If the Fed raise interest rates i.e. tighten liquidity in the face of China's 'devaluation' the US economy will spin right back into recession or near recession! To counter China's cheap money policy, the Fed should either defer raising interest rates or even go into another round of quantitative easing!

hng33 likely sold all his Puncak-CG. We are dealing with at least 2 spin-masters here, each with own agenda.

hng33. Special dividend of RM1 but only 20 to 30 sen price increase? Surely that's gross underestimation?

Nelson Yoong. Male Aussies know how to be crudely/barbarically straight only with women and not so straight when it comes to gays because of their ancestry. I have an Aussie friend who always said he is of German descent. When questioned closely he admitted that only his grandmother was German, his grandfather was an ex-convict from the old Brisbane convict colony! About 50% of Aussies have convicts (robbers, thieves, rapists, murderers, pedophiles, sodomites) as their ancestors. So don't follow their mindset!

fzank - do have a good laugh everyone including clown Roger123! Laugh, before we laugh all the way to the bank when Puncak crosses RM3.80!

Nelson Yoong! How crude! Spoken like an Australian with convict ancestors!

jacklintan baby. Coffee then...when Puncak crosses RM3.80!

hng33. Agree very much with your evaluation of Puncak. I shall switch part of my portfolio to Puncak... if KLSE stabilise.