seriously for planting 400,000 acres ? ( need to check -the standard terms used are hectares NOT acres. ) it's will take a long long time for wah seong to complete planting. IOI , Genting, FGV are doing green fields in Indonesia at the rate of 2,000 - 3,000 hectares ( app 7,000 - 8,000 acres per annum ) This are pure plantation planters. In Congo without sounding like a doctor doom. Wah seong may faced alot of obstacles. The biggest oil palm producers are Indonesia, Malaysia, Thailand. combine they produce almost 92% of the global production. Africa is the last unknown frontier. Nigeria are major producer of Cocoa not palm oil. this is my personal view
Calvin, waseong revenue is not improving, worst still the earning is drooping and going into red. In your opinion, what factor or factors that will make waseong turn around and the share price will go up again?
calvin...beside jurong point mall any other nice food court around that area which is not far from jurong point?As i'm not familiar jurong everytime just eat inside the mall when i go there so was wondering outside the mall is any nice food court or hawker food to eat?
Don't like to say too much negative things on others' articles. Just my humble opinion. like your other articles, but not this one, reason: bias and not convincing. I'm in doubt about your investment approach now. Perhaps you're thinking in the contrarian way, able to spot the one that is with relatively low price, and have built up some interest in it, but your article is basically one-sided points. The other sides: 1) why the share price dropped, 2) why someone keep selling recently, 3) why the recent financial results worsen, 4) why debts have increased so much?
I have no intention to spend my precious time here with the purpose to criticize you. But if you could spent some times to think about the reasons for the other sides, you might have better understanding, which I believe would value-added in your decision-making, and for others as well.
#7 wrong. Wah Seong (Malaya) Trading Company Sdn. Bhd. owns Goldis NOT Wah Seong Corp Bhd. Any gain or loss of Goldis has no impact to Wah Seong Corp Bhd at all!!
Wah Seong takes up the challenge where few dare to venture PDF Print E-mail (Article by P.Y. Chin, New Sunday Times, 30 June 2002)
WAH Seong Corporation, the big boys of pipe-coating in Malaysia whose shares are soon to be listed on the KLSE Main Board, is into thinking big. Though the sky is the limit, the board of directors at Wah Seong has to play strictly by company rules.
BIG is the buzz word in world business these days but for Wah Seong, it must not be with abandon and to the cost of the shareholders in the future.
As Wah Seong managing director and CEO Chan Cheu Leong explains, "I have structured the company''s memorandum and articles of association (M&A) such that there is a cap on the borrowing limit.
"Borrowing is limited to 2.5 times the shareholders'' fund. This is to protect the company.
"Some of the directors and people outside the company have asked me why would I would want to tie our hands. My answer was simple:
"I told them that you cannot assume that all of us would be running the company for life. The company is an on-going entity.
"We must have a good management system that can protect shareholders'' interests, a system that limits the risks."
While the cap on borrowing is self-inflicted, so to speak, it no way inhibits Wah Seong going big in their own responsible way.
Chan recently gave a presentation on the company to a group of analysts as a prelude to the company''s shares being listed on the Main Board.
The presentation started with a scene of the sea showing the sun rising above the horizon. Words were splashed across the scene: "A new chapter for Wah Seong Corporation - towards realising its vision as a major Asian industrial group" and "A consistent performer as consistent as sunrise everyday".
The bottomline, of course, came at the end.
"Why invest in Wah Seong shares?" Three reasons were forwarded: · cheap entry to Asia/global oil and gas service infrastructure company with excellent growth potential; · fundamentally good mix of business; and, · stable and committed management team.
Good mix of business, stable, committed management team. Mere words describing a company seeking listing?
Wah Seong is no new corporate kid coming onto the KLSE block.
Indeed, Wah Seong has been around for 47 years. The Tan brothers, Datuk Chin Nam and Datuk Kim Yeow, of Tan & Tan fame, founded the family company, Wah Seong (Malaya) Trading Co Sdn Bhd, in 1955, to deal mainly in essential commodities.
Known as "a small family trading outfit", the Wah Seong of today, which is being listed as Wah Seong Corporation, is into a business few Malaysians dare venture into - oil and gas.
But it is not the oil and gas business as many would understand it to be, which is exploring and drilling, or refining, or the retail petroleum business.
Wah Seong is into the highly specialised pipe-coating and the manufacturing and fabricating of steel pipes for the oil and gas industry at home and abroad.
As Chan says, "In Asia we are one of the top two players in the pipe-coating business, and worldwide we have established ourselves as one of the top three."
In Malaysia, Wah Seong has already established a strong market presence - they have captured a 60 per cent share.
"Actually," says Chan, "there are not many players in this business," There are, according to him, about 10 players worldwide.
Why the small number?
Chan gives four reasons: · it is a very regulated industry: there are only two players in Malaysia, one of which is Wah Seong; · the technology content is very high: you need the technological know-how to set up the business; · you must have a track record, track record and track record, just like in the property business where location, location and location are the three most important factors; and, · the business is capital-intensive, requiring heavy capital expenditure to build up an infrastructure to operate profitably.
THIRTY (30) LARGEST RCPS HOLDERS No. Name No. of RCPS Held % 1 CIMSEC Nominees (Tempatan) Sdn Bhd 71,946,030 15.79 CIMB for Wang Tak Majujaya Sdn Bhd 2 Tan Chin Nam Sdn Bhd 68,399,471 15.01 3 Wah Seong (Malaya) Trading Co. Sdn Bhd 59,643,500 13.09 4 Tan Kim Yeow Sdn Bhd 36,423,327 7.99 5 HSBC Nominees (Asing) Sdn Bhd 30,374,892 6.67 Exempt an for The HongKong and Shanghai Banking Corporation Limited 6 HSBC Nominees (Asing) Sdn Bhd 30,066,800 6.60 Exempt an for Bank Julius Baer & Co. Ltd 7 Tan Chin Nam Sdn Bhd 12,423,919 2.73 8 Maybank Nominees (Asing) Sdn Bhd 11,448,768 2.51 DBS Bank for Ripley Services Limited 9 Wah Seong (Malaya) Trading Co. Sdn Bhd 10,346,260 2.27 Analysis Of Shareholdings As At 31 March 2015 (cont’d) Annual Report | 2014 161 No. Name No. of RCPS Held % 10 Maybank Securities Nominees (Tempatan) Sdn Bhd 9,217,197 2.02 Maybank Kim Eng Securities Pte Ltd for Tan Kim Yeow Sdn Bhd 11 Wah Seong Enterprises Sdn Bhd 8,440,019 1.85
12 BBL Nominees (Tempatan) Sdn Bhd 7,923,498 1.74 Pledged securities account for Dato’ Tan Chin Nam 13 Maybank Nominees (Asing) Sdn Bhd 7,062,390 1.55 DBS Bank for Timbarra Services Limited 14 Tan Lei Cheng 6,674,738 1.46
15 Dato’ Tan Chin Nam 6,298,761 1.38
16 Amanahraya Trustees Berhad 4,648,000 1.02 Public Smallcap Fund 17 Dato’ Tan Chin Nam 4,627,561 1.02
18 Scanstell Sdn Bhd 4,592,038 1.01
19 Amanahraya Trustees Berhad 4,384,100 0.96 Public Strategic Smallcap Fund 20 Public Nominees (Tempatan) Sdn Bhd 4,125,000 0.91 Pledged securities account for Tan Chin Nam Sdn Bhd 21 BBL Nominees (Tempatan) Sdn Bhd 3,834,843 0.84 Pledged securities account for Tan Chin Nam Sdn Bhd 22 HSBC Nominees (Asing) Sdn Bhd 3,781,700 0.83 Exempt an for Credit Suisse 23 Classlant Sdn Bhd 3,748,956 0.82
24 Tentang Emas Sdn Bhd 3,650,655 0.80
25 Wah Seong Enterprises Sdn Bhd 2,988,405 0.66
26 BBL Nominees (Tempatan) Sdn Bhd Pledged securities account for Wah Seong (Malaya) Trading Co. Sdn Bhd 2,896,875 0.64
27 Dasar Mutiara (M) Sdn Bhd 2,881,713 0.63
28 Tan Boon Lee 2,848,998 0.63
29 Maybank Nominees (Tempatan) Sdn Bhd 2,685,402 0.59 Pledged securities account for Wah Seong (Malaya) Trading Co. Sdn Bhd 30 Tan Kim Yeow Sdn Bhd 2
Calvin, just to highlight that Wah Seong Corp Bhd does not hold substantial share in Goldis. The major shareholder of Goldis is Wah Seong (M) Trading Co Sdn Bhd, which is also major shareholder of Wah Seong Corp Bhd. Wah Seong (M) Trading Co Sdn Bhd is common shareholder of both Goldis and Wah Seong Corp Bhd. Your #7 statement is misleading, WASEONG IS TOP 2 HOLDERS OF GOLDIS & GOLDIS IS TOP HOLDERS OF IGB. Here WASEONG= Wah Seong (M) Trading Co Sdn Bhd ≠ Wah Seong Corp Bhd
Top 10 List of Properties as at 31 December 2014 Title/Location Description/ existing use Approximate age of the building Approximate land/built-up area Tenure Audited NBV as at 31.12.2014 RM Federal Territory of Cuvette & Sangha Republic of the Congo Oil palm plantation land & infrastructures N/A 470,000 hectares Leasehold 60 years expiring on 17 May 2069
PLEASE NOTE!! 470,000 HECTARES = 470,000 x 2.471 (convert to acres) = 1,161,370 ACRES Or 1 MILLION ONE HUNDRED AND SIXTY ONE THOUSAND & THREE HENDRED SEVENTY ACRES!
1.161 ACRES OF PLANTATION LANDS WERE PURCHASED FOR RM101 MILLIONS WHEN RINGGIT WAS STILL STRONG. NOW RINGGIT HAS CRASHED BY 25% AGAINST CONGO FRANC. SO CONVERTED BACK COST WOULD BE 101 Millions x 25% = RM126.25 MILLIONS WORTH NOW.
GOOD PLANTABLE LANDS ARE 180,000 ACRES = 180,000 x 444,780 ACRES.
WASEONG HAS BEEN DISPOSING ASSETS FROM TIME TO TIME!! IT IS POSSIBLE THAT WASEONG COULD SEEK TO SELL THESE PRECIOUS LANDS TO FGV OR WILMAR!
EPF SELLING WASEONG SHARES PRESENT A WONDERFUL OPPORTUNITY CHEAP WASEONG SHARES LIKE BUYING AJIYA AT RM1.00 WHEN EPF SOLD DOWN LAST TIME. THOSE WHO BOUGHT AJIYA AT RM1.00 MADE 500% PROFIT LATER!! 101,525,307 KKIP Timor, Industrial Zone 13 General Industrial Zone Kota Kinabalu Industrial Park Mile 15 Jalan Telipok, Telipok Kota Kinabalu, Sabah Industrial land with factory and office building 7 years 22 acres (Land) 232,956 sq ft (Building) Leasehold 99 years expiring on 31 December 2098 62,730,889 Geran No. 32543, 32544, 32546 and 32547 Lot No. 1929, 1930, 1944 and 1945 Geran No. 32545, Lot No. 1943 Daerah & Mukim of Klang Negeri Selangor Darul Ehsan Industrial land with office and factory building Industrial land 9 - 10 years N/A 18 acres (Land) 40,425 sq m (Building) 4 acres (Land) Freehold 40,021,183 Geran Mukim 2327, 2805, 2806, 2315, 2328 and 2323 Lot No. 512, 513, 514, 515, 1284 and 2347 Mukim Teluk Panglima Garang Daerah Kuala Langat Negeri Selangor Darul Ehsan Agricultural land N/A 24 acres Freehold 38,035,908 Lot. A to D and Pasdec Land Lot AA Kawasan MIEL Tanjong Gelang Kuantan, Pahang Darul Makmur Industrial land N/A 127 acres Leasehold Lot A to D expiring on 8 November 2109 Leasehold title Pasdec Land Lot AA yet to be issued 28,984,255 Sub Lot 2, Kawasan Perindustrian MIEL Gebeng, KM25 Jalan Kuantan-Kemaman P.O. Box 140 25720 Kuantan Pahang Darul Makmur Industrial building 12 - 23 years 55,565 sq m Leasehold 99 years (leasehold title yet to be issued) 27,406,884 KKIP Timor, Industrial Zone 10 General Industrial Zone Kota Kinabalu Industrial Park Mile 15 Jalan Telipok, Telipok Kota Kinabalu, Sabah Industrial land for storage N/A 30 acres Leasehold 99 years expiring on 31 December 2096 20,604,685 PKNP Land Lot Fiz Kawasan Perindustrian Fiz Tg Gelang, Mukim Sg. Karang Kuantan, Pahang Darul Makmur Industrial land N/A 36 acres Leasehold 99 years expiring on 19 December 2096 20,268,359 HS(D) Nos. 40386, 40387 and 39789 PT No. 18, 19 and 1554 respectively Mukim 1 Seberang Perai Tengah Pulau Pinang Industrial land with office and factory building 14 - 31 years 97,896 sq m (Land) 24,009 sq m (Building) Leasehold Lot P.T Nos. 18 & 19 expiring on 31 January 2039 Lot P.T Nos. 1554 expiring on 5 June 2046 19,477,506 P.T. No.11443 held under title H.S. (M) 9613 Section 13 Mukim of Kajang District of Hulu Langat Lot 4 Jalan P/2A seksyen 13 Kawasan Perindustrian Bangi 43650 Bandar Baru Bangi Negeri Selangor Darul Ehsan Factory building 20 - 34 years 16,828 sq m Leasehold 99 years expiring on 29 September 2086 13,996,386
174Wah Seong Corporation Berhad • Annual Report 2014 a
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Icon8888
18,659 posts
Posted by Icon8888 > 2016-03-17 10:51 | Report Abuse
Annual report said they have planted 5,000 acres only
If they indeed plan to plant 400,000 acres , there will be huge cash outflow going forward
The best time to buy is after they have completed planting (10 years later?)
Now still early, way too early