look at it this way, if u have 100,000, u put 1000 into kseng if u have 1,000,000, u put 10,000 into kseng if u have 10,000,000, u put 100,000 into kseng it's all relative. negligible opportunity loss
@speakup, the value of Keck Seng shares I hold is 10 times your recommended allocation. I hope it can go up but I have no much faith in it. Too bad I didn't dispose of the shares 8 or 9 years ago when it almost touched RM8.
Probably investors are disappointed with the directors for not being proactive enough over the years or the directors just want to keep the price low so that when they decide to privatize Keck Seng one day, they can offer small investors at RM4 a share.
MD of K seng is having similar character as Icap MD Tan Teng Boo, damn selfish if you attended their AGM, you can feel it, no matter how undervalued, just ignore
Not under valued but a value trapped company! Directors are selfish fellows n not willing to share with minorities by paying out higher dividend. They keep having excuses of accumulating the fund for future good investment but they get h willing to pay higher directors fees each year to themselves.
I have lost hope on the directors now in charge in the company. The US dollar had recently gone up to 1 US$=RM4.76 but I am very doubtful if they had reduced Keck Seng's US dollar holdings.
@prudentinvestor : I attended AGM in the year after IHH was privatised while Keck Seng was rewarded handsomely. I called upon the directors to distribute part of money it received to its shareholders but was outright rejected with reasons money hard to come by and have to conserve it for potential future investment, in subsequent years, directors getting more and more in their directors fees. since then. i know this is a value trapped co. ...
"Kseng is a steady safe long term investment for patience investors mah!" I have held Keck Seng shares for over 25 years. Isn't 25 years a very long time?
".......but was outright rejected with reasons money hard to come by and have to conserve it for potential future investment, in subsequent years,......." They didn't make any investment, just keep the money in US and Sing Dollars. Had they used the proceeds to buy some properties in Singapore then, the returns could be several hundred percent.
I replied " if not all , at least part of that IHH privatised money should be used to reward the existing minority shareholders. Should any investment opportunity arise, as a public company, the directors can either borrow money from the banks, issued bonds or make right issues. you are operating the company as a private limited co, might as well privatise it right now"
Major shareholders enjoy their increasing big directors fees, yearly family overseas trips in US and Canada stay free of charge in hotels owned by Kseng. Business class air tickets foot by company, how enjoyable this type of good life... You think they cannot tahan! please read its Annual reports see hotels owned by Keck Seng They will slowly milk the cash flow of the company for generations ..
KSeng owns Tanjong Putri golf club, you mare not aware, its director enjoy so much and live like king in the golf club, I was told he is one of the single handicapper in the club.
Now I am waiting for Keck Seng to reach at least RM6 a share, before I start to sell some and switch to Maybank/RHB Bank. Too bad, I didn't sell when it almost touched RM8 about 10 years ago.
Keck Seng's outstanding performance for the quarter ending 30/09/22 is unlikely to be repeated in the final quarter as the US Dollar has weakened against the Ringgit. Foreign exchange losses for the final quarter should exceed RM10 million. Full year earnings should be around 50 sen a share.
There was a big durian runtuh way back in 2010. After disposing of its holdings in Parkway Holdings and reaping a huge capital gain, it declared a one for two bonus. No more durian runtuh over the past 12 years, only a yearly dividend of 10 to 11 sen a share even though the company made over 30 sen a share in some years. No dividend declared in 2020 and 2021 though the company still made over 20 sen a share in 2019.
If the directors don't have any better ideas on what to do with the company's 1 billion cash, they should pass some cash to fund managers to earn better returns.
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speakup
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Posted by speakup > 2023-01-27 11:52 | Report Abuse
last time speakup buy litrak
hold hold hold while collect dividend until finally privatised