deal will be aborted. minority shareholders will reject.. why sell asset worth 10 for 4?... all the asset is Great Eastern shares. might as well distribute the GE shares to Kuchai shareholders, why give it to SBagan.
wonder which minority shareholder of Kuchai gonna vote for the deal. major shareholders cant vote. SC and Bursa must investigate the hidden hands. the whole proposal is bad for minorities of Kuchai. the whole Nyalas Group of companies are taking their minorities for a big ride. bad corp governence.
Now that both Kuchai and SBagan prices have more or less stabilize if we do the Maths every 5 sen upward or downward movement of SBagan shares should move Kuchai shares by 1 sen in similar direction.
@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.
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.
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?
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{£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.
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.
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.
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
Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!🤗😘🤗 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! 🤣🤣🤣
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!
Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!🤗😘🤗 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
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
🐓'Chicken' rice....🐔 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)😂
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....
speakup
25,055 posts
Posted by speakup > 2024-01-06 10:28 | Report Abuse
anybody can answer why 1 kuchai = 0.222 sbagan at rm10 ? why shouldn't it be 1 kuchai = 0.555 considering sbagan is only rm4