KUCHAI DEVELOPMENT BHD

KLSE (MYR): KUCHAI (2186)

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Last Price

1.74

Today's Change

0.00 (0.00%)

Day's Change

1.74 - 1.75

Trading Volume

45,000


4 people like this.

961 comment(s). Last comment by AhPek 3 days ago

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-07 19:14 | Report Abuse

@Albukhary, yes, you are correct to say that. SBagan is undervalued (and so are most other counters). Kuchai is presently fully valued based on SBagan's current market price.

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-08 10:08 | Report Abuse

Contra players who chased the news mostly FLUSHed out!😊 I increased my stake by 180% in the meantime, which will entitle me to a few lots of SBagan in the next 2 months or longer. I predict it will go back to above $1.70 at the very least in the meantime.

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-08 14:31 | Report Abuse

If SBagan goes to RM4.50, Kuchai's fair value will be RM1.60 ....... if SBagan goes to RM5, Kuchai's fair value will be RM1.70 ....... if SBagan goes to RM10 ....... aah, can or not?

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-08 15:07 | Report Abuse

If SBagan drops to RM3.50, Kuchai's fair value will be RM1.40 ....... pray SBagan doesn't drop.

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-08 17:21 | Report Abuse

Even after 41% ⏫ in shares issued, fair value JUST BASED on the Top 2 MOST LIQUID assets of CASH + Great Eastern shares is between $3.66 -$4.50, not even counting:
1. The 2 adjoining ultra-luxurious, ultra-sprawling Victorian-era Mayfair flats valued at over $70 mil{Β£10,000 rental income per month}
2. The Kelantan freehold plantation lands valued @ $105 mil
3. The freehold S'pore conservation shophouse valued @ $50 mil {S$16,000 rental income per month}
4. The Kajang freehold land valued @ $8 mil.

And this also disregards the S'pore bonds, gold bars & hedge fund stake which I assume to be not too liquid.

AhPek

115 posts

Posted by AhPek > 2024-01-08 17:53 | Report Abuse

Prefer they distribute the cash rather than Sg Bagan shares.

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-08 17:55 | Report Abuse

81 mil net cash is only 65c per shr. I'd rather get the sister co's shrs which has significant upside potential with its juicy inflation-resistant properties.

speakup

25,016 posts

Posted by speakup > 2024-01-09 12:51 | Report Abuse

Aduh! Missed the Kuchai boat. Everybody here say no good, speakup no buy

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-11 21:01 | Report Abuse

From the beginning people here say SBagan better than Kuchai, means sell Kuchai to buy SBagan.

speakup

25,016 posts

Posted by speakup > 2024-01-12 07:42 | Report Abuse

all the sifu sifu say Kuchai no good, speakup no buy then it up up up πŸ˜₯

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-12 08:40 | Report Abuse

I'm certainly not of the those 'sifu' ! Have been buying it for 3 days straight since Jan 3rd because it's good!

To me, buying either is not wrong...Kuchai is just an indirect way to get exposure to SBagan, especially attractive when the former is at a stark discount to the latter. Its Great Eastern holdings (assuming a S$18 valuation) is already almost equal to its current mkt cap, with prospects for a sharp increase since the insurer's implied value is over $30, having gone as high as $32 in early '18, especially with OCBC buying another chunk @ $17 last year to bring its holdings to 89%, a whisker from the takeover threshold.
Ergo, buyers are getting its 81 mil net cash(constantly increasing by about $4 mil a year), valuable S'pore freehold detached shophouse, Semenyih land & assorted bonds & S$ investments almost for free.

CharlesT

14,555 posts

Posted by CharlesT > 2024-01-12 09:23 | Report Abuse

Even retxrds also know it's a good deal for SBagan n a bad deal for Kuchai.

SBagan bought asssets of Kuchai by issuing shares at high premium (Basing on NTA RM10), more than 50% than their current share prices.

CharlesT

14,555 posts

Posted by CharlesT > 2024-01-12 09:26 | Report Abuse

Go buy SBagan directly io Kuchai to get the 0.22 SBagan (valued at NTA RM10).

Now I know why there are so many poor retaxds in Bursa...

CharlesT

14,555 posts

Posted by CharlesT > 2024-01-12 09:28 | Report Abuse

Posted by speakup > 1 hour ago | Report Abuse

all the sifu sifu say Kuchai no good, speakup no buy then it up up up πŸ˜₯

I m not sure u pretended to be stupxd or U are just plain stupxd, despite staying in I3 n stock mkt for years

CharlesT

14,555 posts

Posted by CharlesT > 2024-01-12 09:42 | Report Abuse

Anyway both are illiquid Co controlled by kiamsiap Boss paying peanut div...

Can see their good assets cannot eat while Boss happily earning their director fees every year

If want can buy few lots or few K shares like somebody n keep for 5 years or 10 years...once they goreng up can come to I3 to shout n show off u make few hundreds or few thousands very panlai very smart.....lol

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-12 17:18 | Report Abuse

BEAUTIFUL week-end for both Kuchai & SBagan, close to week highs !!! Next week 95% probability of breaching $1.60 & $4.60 respectively!!!πŸ€—πŸ˜˜πŸ€—

speakup

25,016 posts

Posted by speakup > 2024-01-12 19:52 | Report Abuse

Terasa sedih Charles ni panggilku bodoh

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-13 10:17 | Report Abuse

@speakup, don't ever stop speaking up. Next week we go cheer, cheer Insas.

speakup

25,016 posts

Posted by speakup > 2024-01-14 20:59 | Report Abuse

why is Kuchai in Financial sektor, not Plantation sektor?

ACE9696

185 posts

Posted by ACE9696 > 2024-01-15 09:43 | Report Abuse

TP sbgan 10. TP kuchai 3.5-4.0

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-15 10:03 | Report Abuse

dompeilee

BEAUTIFUL week-end for both Kuchai & SBagan, close to week highs !!! Next week 95% probability of breaching $1.60 & $4.60 respectively!!!πŸ€—πŸ˜˜πŸ€—

2 days ago

Both predictions SPOT-ON! πŸ‘ ***Self-congratulatory dance***πŸ•Ί

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-15 10:11 | Report Abuse

Go, go, go Insas.

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-15 10:11 | Report Abuse

Oops, wrong forum.

speakup

25,016 posts

Posted by speakup > 2024-01-15 12:03 | Report Abuse

Sengaja ni. LOL!

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-15 13:06 | Report Abuse

LOL @ speakup, you seem to be enjoying yourself at Insas forum.

Diamond7

2,193 posts

Posted by Diamond7 > 2024-01-15 16:29 | Report Abuse

Vow!
Moving up slowly!

TheContrarian

8,600 posts

Posted by TheContrarian > 2024-01-15 16:39 | Report Abuse

Kuchai is following SBagan's uptrend.

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-16 09:36 | Report Abuse

Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!πŸ€—πŸ˜˜πŸ€— Poor CharlesT, who looks down on other's thousands of profits & calls ppl stupi d when he's the stupi d one & for whom chicken rice is the HEIGHT of luxury....who missed the moolah boat! 🀣🀣🀣

dompeilee

11,888 posts

Posted by dompeilee > 2024-01-17 18:43 | Report Abuse

Noteworthy that despite SG Index tumbling -1.4% today, Great Eastern shares continue their steady upward rise from $17.60 in late '23 to $18.34 now. Disregarding the proposal which is still months away from being approved, Kuchai's holdings in Great Eastern are worth $1.52 / shr so buyers only pay 20c for their Semenyih land, 65c of cash & their Emerald Hill freehold shophouse in S'pore collectively worth 47c /shr & doesn't even factor in their holdings in the S$ bonds & other fund investments. PLUS 4c per shr of Great Eastern's customary May dividend if the proposal drags beyond 1Q '24. A full blown takeover, like was attempted in 2006 by 88.4% owner OCBC by the end of the yr cannot be ruled out!

speakup

25,016 posts

Posted by speakup > 2024-01-22 13:27 | Report Abuse

Very slow and steady up

Michael Kwok

6,057 posts

Posted by Michael Kwok > 2024-01-22 13:35 | Report Abuse

Kuchai 1.73
If 1.66 can supported in 2-3 days period,then maybe something on in kuchai.
22/1/24 1.35pm

TheContrarian

8,600 posts

Posted by TheContrarian > 2 months ago | Report Abuse

Something on in Kuchai already long known. Michael Kwok, you very slow.

speakup

25,016 posts

Posted by speakup > 2 months ago | Report Abuse

Funds collecting to push owners sweeten the deal?

CharlesT

14,555 posts

Posted by CharlesT > 2 months ago | Report Abuse

Posted by dompeilee > 1 week ago | Report Abuse

Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!πŸ€—πŸ˜˜πŸ€— Poor CharlesT, who looks down on other's thousands of profits & calls ppl stupi d when he's the stupi d one & for whom chicken rice is the HEIGHT of luxury....who missed the moolah boat! 🀣🀣🀣

Stupxd old lao cha bo remisier.....always show of her few hundred RM profit by buying few lots.....lol

My chicken rice money is much much more than your monthly or even yearly profit....lol

CharlesT

14,555 posts

Posted by CharlesT > 2 months ago | Report Abuse

dompeilee

My Sungei Bagan realized earnings cross the $5k mark reaching $5,671.82 since '13 after earning ZERO last year when it was comatose ALL YEAR LONG & margin interest piled up on a small stake re-purchased too high in Oct '21!

2 weeks ago

Rm5,671.82 since 2013?????? So much ah so panlai ah??????? lol

dompeilee

11,888 posts

Posted by dompeilee > 2 months ago | Report Abuse

πŸ“'Chicken' rice....πŸ” the double entendre says it all! 🀣🀣🀣 SBagan price has been comatose for most of the period 2012-2023, spurting only briefly in '13, '18 & '21. Better than you, earned ZERO & better than the quick & the dead impatient gamblers( of which club you're also a member)πŸ˜‚

CharlesT

14,555 posts

Posted by CharlesT > 2 months ago | Report Abuse

Lol...as long as u r happy....

CharlesT

14,555 posts

Posted by CharlesT > 2 months ago | Report Abuse

Buying few lots making few hundreds can be very happy also to old lady...

I m very envy of u...happiness is very simple

speakup

25,016 posts

Posted by speakup > 2 months ago | Report Abuse

Some funds positioning to force owners to sweeten the offer. Now it's 1000 get 222 Sg bagan, maybe force to 1000 get 400

TheContrarian

8,600 posts

Posted by TheContrarian > 2 months ago | Report Abuse

@speakup, yes, proposals can be revised. That would definitely be better for Kuchai minorities.

speakup

25,016 posts

Posted by speakup > 2 months ago | Report Abuse

In business you don't always place your Best Offer first!

TheContrarian

8,600 posts

Posted by TheContrarian > 1 month ago | Report Abuse

The forum here gone dead for over a month?

TheContrarian

8,600 posts

Posted by TheContrarian > 1 month ago | Report Abuse

On the first trading day of this year I completely exited from Kuchai at 1.62, now Kuchai is at 1.60.

dompeilee

11,888 posts

Posted by dompeilee > 1 month ago | Report Abuse

TheContrarian

On the first trading day of this year I completely exited from Kuchai at 1.62, now Kuchai is at 1.60.

5 days ago

IRONIC how less than a week after your boast, Kuchai rises smartly to exceed your EXIT by 7c per share!

speakup

25,016 posts

Posted by speakup > 1 month ago | Report Abuse

He issued Buy Call

dompeilee

11,888 posts

Posted by dompeilee > 1 month ago | Report Abuse

Now 1.71, UP TEN ticks!!! πŸ™†πŸ»πŸ“ˆ

Diamond7

2,193 posts

Posted by Diamond7 > 3 weeks ago | Report Abuse

This article first appeared in The Edge Malaysia Weekly on January 8, 2024 - January 14, 2024

ROUGHLY 15 months after Kuchai Development Bhd (KDB) completed distributing its 26.51% stake in Sungei Bagan Rubber Company (M) Bhd (Sg Bagan) to shareholders, the company ended the year with an announcement of a bigger deal.

This time around, KDB is selling its assets and liabilities valued at RM275.47 million to its sister company Sg Bagan in return for shares. Again, KDB will distribute Sg Bagan shares to its shareholders. For every 1,000 KDB shares, shareholders will be entitled to 222 Sg Bagan shares under the proposal.

The controlling shareholder Kluang Rubber Company (M) Bhd will get the lion’s share of the block of Sg Bagan shares being distributed.

Kluang Rubber holds a 42.21% stake in KDB and a 43.5% stake in Sg Bagan. It is, in turn, controlled by low-profile Singaporean businessman Lee Thor Seng and his sons β€” Justin Lee Chung-Shih and Colin Lee Yung-Shih β€” via their family vehicle The Nyalas Rubber Estates Ltd. Justin is the executive deputy chairman of KDB and Sg Bagan.

It is worth noting that the divestment consideration of RM275.47 million was RM120 million more than its market cap of RM154.68 million prior to the announcement.

The divestment, which unlocks the asset value of KDB, gave a strong boost to the share prices of the three companies, lifiting them to all-time peaks on the first trading day of 2024.

The move is seen by market observers as the nonagenarian Thor Seng’s attempts to further streamline his interest in the Bursa Malaysia-listed companies, apart from unlocking asset values. This has left many wondering about his next move with KDB, which will soon be a cash-rich listed shell company.

β€œWould he privatise Sg Bagan since most of the assets will be parked there?” muses a market observer.

Diamond7

2,193 posts

Posted by Diamond7 > 6 days ago | Report Abuse

CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I) PROPOSED ACQUISITION OF SUBSTANTIALLY ALL OF THE ASSETS AND LIABILITIES OF KUCHAI DEVELOPMENT BERHAD ("KDB") FOR A TOTAL CONSIDERATION OF UP TO RM275.47 MILLION, WHICH WILL BE SATISFIED THROUGH THE ALLOTMENT AND ISSUANCE OF UP TO 27,519,500 NEW ORDINARY SHARES IN SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") ("SHARES") ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM10.01 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION"); (II) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES ON TAKE-OVERS, MERGERS AND COMPULSORY ACQUISITIONS ("RULES") TO KDB AND PERSONS ACTING IN CONCERT ("PACs") WITH IT FROM THE OBLIGATION TO UNDERTAKE A MANDATORY OFFER ("MO") FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED KDB EXEMPTION"); AND (III) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES TO KLUANG RUBBER COMPANY (MALAYA) BERHAD ("KRCB") AND PACs WITH IT FROM THE OBLIGATION TO UNDERTAKE A MO FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED DISTRIBUTION BY KDB OF ALL OF THE CONSIDERATION SHARES TO THE ENTITLED SHAREHOLDERS OF KDB WHOSE NAMES APPEAR IN THE RECORD OF DEPOSITORS OF KDB ON A DATE TO BE DETERMINED LATER BY WAY OF DIVIDEND-IN-SPECIE AND CAPITAL REDUCTION AND REPAYMENT ("PROPOSED KRCB EXEMPTION")

Diamond7

2,193 posts

Posted by Diamond7 > 6 days ago | Report Abuse

CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING: (I) PROPOSED DISPOSAL OF SUBSTANTIALLY ALL THE ASSETS AND LIABILITIES IN KUCHAI DEVELOPMENT BERHAD ("KDB") TO SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN SG BAGAN ("SG BAGAN SHARES") ("PROPOSED DISPOSAL"); AND (II) PROPOSED DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE PROPOSED DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A PROPOSED CAPITAL REDUCTION AND REPAYMENT AND PROPOSED DIVIDEND-IN-SPECIE

AhPek

115 posts

Posted by AhPek > 3 days ago | Report Abuse

Is this a good deal for KDB's shareholders?

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