Noted that the Ho family purchased some shares the last couple of days. Can anyone clarify or familiar with company takeover law whether in determining the 33% threshold for voting shares for mandatory offer, does that include both direct and indirect shareholdings. Jz curious.. Cheers!!!
Keck Seng's audited NTA was RM 6.64 as at end of last year, its actual NTA should be at least 2.5 to 3 times higher. It has cash and short term investments amounting to over RM 930 million as at 30/06/18 and only 154.4 million shares are in public hands ( not held by directors, their associates and those holding over 5% of KS shares). KS directors and co. can actually buy all these 154.4 million shares at RM 6 a piece using its cash and the whole company will become theirs.
Keck Seng touched a high of RM 7.97 in 2014, it has been on a down trend since then. At 4.24, it is still almost 50% lower than its peak and only around 10% higher than its recent low. Still long way to move up.
Continuous buying but at a slower pace. A right strategy for accumulation by major shareholders. A right direction as its eligible for dividend payout too! Cheers!!!
I think Keck Seng's directors will likely follow in the footsteps of Daiman's directors and take Keck Seng private. Just be patient, your patience may pay off handsomely.
Holding on firmly in he last 3 weeks. Never seen before such a support in the last 2 to 3 years. Hopefully something great will materialise soon.Cheers!!!
Directors seems trying to buy out as much shares as possible at current level to avoid paying a hefty sum in case of any future buyout to take it private. Cheers!!!
Proposed 3rd bridge from Pasir Gudang, Johor to Singapore. What it means to Keck Seng (M Bhd? Request Board of Directors to revalue those parcels of land at that area.
Keck Seng's cash and available for sale investments are already worth RM 4 a share. Selling Keck Snng at this level is akin to selling a RM 1 million house for RM 0.25 million.
United Malacca Bhd proposed sales of plantation located at Alor Gajah, Jasin, Tampin, & Rembau at total 1021.06 hectares at consideration of RM 175,145,285 or RM 171,532.80 per hectare.
Keck Seng have one 2485 hectares (combined freehold & leasehold) located at Bukit Chantek, Tong Hing & Tanjong Langsat Estate (10 km east of Ulu Tiram and 30 km from Johor Bahru) recording at book value of RM 25,370,000.00 or RM 10,209.25 per hectare since 1980
and another lot of 820 hectares (freehold) located at 10 km east of Ulu Tiram and 31 km from Johor Bahru recording at book value of RM 14,567,000.00 or RM 17,764.63 per hectare since 1980
if we take 20% discount from United Malacca Bhd proposed consideration, just these 2 lot of plantation easily under value by 400 million
SIFU STOCKRAIDER, HAPPY TO SEE YOU HERE AFTER QUITE SOMETIME. HAPPY NEW YEAR 2019 AND HOPE 2019 WILL BE A BOUNTIFUL YEAR FOR ALL AFTER SUCH A TOUGH RIDE EARLIER. CHEERS!!!
Keck Seng’s major shareholders will privatize the co at lowest possible price after they acquire enough from market. They are the selfish major shareholders n like Damian n Selagor Property BHD, they will not offer much premium . I attended one of its AGM many years ago n proposed to utilize tax credit available (more than $100m)before commencement of Single tier tax system. If not the tax credit will just forfeited by our government. The major shareholders refused outright saying cash meant for other investments if arise. I told them to look after the interest of current shareholders rather than let government forfeiture. If investment opportunity is available, co can always make a call for right issue or something, they rejected me outright.
@MG9231, because They are foreigner, they were not gain any advantage from tax credit via dividend distribution. believe that was why they did not did that for other minority shareholders, and prefer keep cash for "OTHER BIGGER OPPORTUNITY" which they will benefit as well.
Kseng major shareholders tried to block others from buying the stocks at the current undervalued level. Whenever we place one order to buy, they'll try to place another orders jz one or 2 bids above the buyer to prevent this valuable shares from falling to other buyers. Cheers!!! More good news coming.
Keck Seng controlling shareholders ( Ho family ) never paid minority shareholders with the tax credits the previous Financial Year ( and let the tax credit burned )
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Posted by fourM > 2018-09-27 16:10 | Report Abuse
aiyo....don't put too much hope...after so many years, always just like a wave only, disappear very fast