Yes, a listed co not taking care of minority shareholders is a lousy co n unless it offers to take it private , yet don’t know when? Moreover, notice directors fee getting higher recently, major shareholders said cash was meant for future new investments, .... they slowly sapu it...
Has been quite a while since it last holding on to its gain. Most of the time is jz one day affair.Hope and wish that it will continue to sustain its gain. Cheers!!!
Wisma Genting up for sale at RM500 million or RM1,222 psf.The property sits on a 42,410-sq ft freehold parcel and has a built-up of 678,632 sq ft with a net lettable area of 409,084 sq ft. by Theedgemarkets on January 26, 2015
Menara Keck Seng (GPS: 3.14781, 101.715) is a 33-storey high-rise office block on Jalan Bukit Bintang in downtown Kuala Lumpur. Completed in 1997, it offers approximately 275,000 square feet of lettable space.
based on the valuation of RM1222/ lettable sq ft on January 2015 for Wisma Genting. Menara Keck Seng with book value at RM 56,019,000 may value at atleast RM336,050,000 (275,000 lettable sft x RM1222/sft) which means the building is atleast under value by RM280,000,000 or RM0.76 per shares (total share issued 361,477,147 including of tresury shares)
There is a reason for not revalue the land and properties, unless necessity arise because the revaluation cost is very high. And once start revalue company properties, the revaluation process must conduct on periodical basic as per standard/ authority requirement, so the recurring cost to company will be very high, as minority I will not suggest to do so as it may harm our interest as well. But what I emphasise is, as a minority we all have to know the fair value of the share on our hand to avoid and reject the unfavour privatisation offer
The Directors/The Ho Family has been slowly buying the shares for their own portfolio years back and most recently from just under RM4/- to the price up to today's level. This Company has enough cash to buy back the shares so we minority will also benefit...why not?
Ho Family continue buying because they well know the value of the company, slowly buy can buy at very very cheap price, if buying fast would push up the price
dat is part of any trading process, no worry, a block buyer for 100 lots parked to buy at 4.79 n 2 lots to sell at 4.81 sen. Looks promising heading to break 5/-
Company have a piece of freehold land at Taman Daya for Development of residential & commercial units, size at 63.648 acre / 2,772,512 sft, 13 km north-east of Johor Bahru (near Kampong Baru Kangkar Tebrau book value), book value at RM 3,795,000 or RM 1.369/sft. which is 18th April 1980 valuation.
referring to "Financial Report 2018" of Scientex Bhd the company have 3 lot of freehold land held for mix development located at Pulai & Kulai size range from 121 acres to 335 acres valuation in 2017 & 2018 from RM20/sft - RM24/sft
if take the lower price at 15% discount which is RM17/sft for Taman Daya Land the market value shall be RM17 x 2,772,512 = RM 47,132,704; then the land is under value by RM 43,337,704
Any Sifu here familiar with land value at Johor, can you provide me land's value indication at/near Pasir Gudang, Kangkar Pulai and Tanjong Puteri?
above is my personal calculation, just for reference only, may out of range of Market value at Taman Daya area. correct me if you have more accurate information
Upon reviewing agri land for sales , Kangkar Pulai priced at betw RM32 to RM36 per sq ft while Pasir Gudang agri land is between RM45 to RM48 per sq ft. All depends on accessibility and location. Cheers !!!
@SUPERDADDY SIFU: Thank you very much for above information
based on the information provided :
The Land located at Bandar Baru Kangkar Pulai held for Development of residential & commercial units including area planted with oil palm. The 99 years lease expires in 2102, land size of 555 acres carrying book value of RM 88,365,000 (last valuation date-18/4/1980) or RM3.655/sft can have market reference value at RM22.40/sft (30% discount from the lower market indication price of RM32/sft). as a result, this piece of land easy undervalue by RM 453,172,920 [(RM22.40 x 555 x 43560) - RM88,365,000]
the land at Tanjong Puteri Resorts held Development of residential & commercial units including area planted with oil palm, size 613 acre with book value RM21,273,000 or RM0.797/sft (last valuation date-18/4/1980) can apply RM31.50 / sft (30% discount from the lower of RM45-48/sft) can have market reference value at RM 841,121,820, or undervalue by RM 819,848,820
Tanjong Puteri Golf Resort, 54 holes golf course clubs and other recreational facilities, size 513 acre, freehold land, carrying book value at RM88,398,000 or RM3.956/sft. can have market reference value at RM703.907,820 (RM31.5 x 513 x 43560). undervalue by RM 615,509,820 (RM703.907,820 - RM88,398,000)
above three lot of land estimated undervalue by RM 1,888,531,560 (RM453,172,920 + RM819,848,820 + RM615,509,820)
Including below three properties which I posted early, total undervalue amounting to RM2,611.869,264 or RM7.226 per share
1.2485 hectares & 820 hectares Palm Oil Estate under value by 400 million
2.Menara Keck Seng under value by RM280,000,000
3.Taman Daya under value by RM 43,337,704
to be continue on 23 Storey building known as Regency Tower (76 units luxury apartments) with as annexed 3 storey car park (108 bays) and other facilities.
Remark : Dear all Sifu, please correct me if Im wrong, as i myself also can not believe the "AMOUNT"
fourM, Keck Seng's 3305 hectares of oil palm estates are worth at least RM 3 billion, assuming RM 400,000 per acre. It also has hotels in Hawaii, New York and Toronto, 8,000 ft2 of office space in Singapore and other minor properties. If all these assets are to be revalued, the company is worth at least RM 20 a share.
@prudentinvestor, yes valuation/fair value per share is approx RM20. I just try myself to identify and break the RM20 in details, so the RM20 per share is more convincing. Thank for your supporting comment on RM20per share.....yeh ... Cheers to all shareholders of Keck Seng. Huat ah
Yeah, even if we give it another discount of 30% at RM14 per share, its still a bumper harvest for all loyal investors of Keck Seng but I believe the board may only offer half of it at RM7 per share as their initial offer to take it private. We may ignore it hoping for much higher offer. Cheers!!!
Many thanks to you all for the detailed input. Booked all the sellers at 4.82 at opening bell and others also later joined in. Must clear first hurdle RM5/- slowly for chance to buy. Cheers.
Should have no regret entering at these levels. The board will get worried if retail investors like us buying up at lower level before any buy-out. Now trying to get into the top ten gainer list. More will take note of this gem later. Cheers!!!
3xcellent! Brewing! Turning to XO Liao! Now RM4.98.....only 2 cents away.. Supperdaddy, we are all behind you!.... We will stand together till the end!!!!
One of the shareholder's name, who held 1,000,000 share of Keck Seng listed in Keck Seng Annual Report since 2014 till now, exactly same as the MD's Name of 4731
are they same person....?
MD of 4731 lead & grow the company from less than 1 Billion value company to 4.5 B company today
is Mr MD the one who own 1,000,000 of share in Keck Seng since 2014 (price range from approx. RM5 - RM7 per share)?
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MG9231
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Posted by MG9231 > 2019-01-08 18:33 | Report Abuse
Yes, a listed co not taking care of minority shareholders is a lousy co n unless it offers to take it private , yet don’t know when?
Moreover, notice directors fee getting higher recently, major shareholders said cash was meant for future new investments, .... they slowly sapu it...