KIAN JOO CAN FACTORY BHD

KLSE (MYR): KIANJOO (3522)

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Last Price

3.05

Today's Change

0.00 (0.00%)

Day's Change

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669 comment(s). Last comment by Gore Victor Lee 2019-08-29 15:11

qqq3

13,202 posts

Posted by qqq3 > 2019-03-23 10:48 | Report Abuse

the SEE Family has lost Kianjoo years ago.........while the brothers were fighting, Canone boss has taken control of Kianjoo years ago.......

sheldon

1,401 posts

Posted by sheldon > 2019-03-24 09:39 | Report Abuse

lionel messi - I am very surprised the See family and EPF were not able to stop this rip off exercise.

Likewise - i was wondering how come EPF & See did not team up & call a meet to clarify & discuss the strategy in response to this MGO. In my text messages with Anthony, strangely he just advised me not to sell but sign the form to save on brokerage - none of his usual protest.

sheldon

1,401 posts

Posted by sheldon > 2019-03-24 09:46 | Report Abuse

If you look at Can1 annual report, EPF is not in the top 30. Hence they have interest to ensure that they the get full compensation for their KJ stake.

Unlike us, EPF & to a lesser extent the Sees have the gravitas to squeeze more from this acquisition.

Posted by lionel messi > 2019-03-24 10:55 | Report Abuse

Sheldon, like I said, maybe they are being pushed to a corner. Damn if you do, damn if you don't. Maybe age is catching up, too tired to fight anymore. But maybe not....

Smart market players like them must have a plan B. It's in their blood. One workaround is to buy into Canone since it is listed and if it's undervalued.

Too illiquid, tightly held and no scrip? Wait till they proposed a massive rights issue to pay off debts. Will be plenty of sellers then.

Canone cannot run away from a capital raising exercise because their capital base is too small to support their operations. After the KJoo takeover, they are now in the billion ringgit turnover category.

KJoo subsidiary Boxpak is next to be taken over since more than 90% of the shares are held by the top 30 shareholders and little or no trading everyday. Makes sense to delist since it's way below book value, consolidate the whole operations and move away from all the compliance issues.

sheldon

1,401 posts

Posted by sheldon > 2019-03-25 22:46 | Report Abuse

Looks like it's game over as EPF has sold out

ctooi51

385 posts

Posted by ctooi51 > 2019-03-29 22:56 | Report Abuse

just wanted to know if canone has start issuing cheque for the conditional take over of Kian Joo shares? thank you

sheldon

1,401 posts

Posted by sheldon > 2019-03-30 09:32 | Report Abuse

Cheques will be issued on 1 Apr.

sheldon

1,401 posts

Posted by sheldon > 2019-04-02 11:19 | Report Abuse

Received the $

ivan9511

3,854 posts

Posted by ivan9511 > 2019-04-02 11:21 | Report Abuse

@sheldon

they pay us with cash money or cheque ?
send cheque ? ? ?

sheldon

1,401 posts

Posted by sheldon > 2019-04-02 15:13 | Report Abuse

Your cheque is probably in the mail.

I called Tricor & told them to bank the cheque in for me

ivan9511

3,854 posts

Posted by ivan9511 > 2019-04-02 16:17 | Report Abuse

@sheldon

Thanks sheldon

sheldon

1,401 posts

Posted by sheldon > 2019-04-03 08:46 | Report Abuse

So I guess this is where we say our goodbyes. No more KJ if it's delisted.

ctooi51

385 posts

Posted by ctooi51 > 2019-04-05 14:46 | Report Abuse

ok.. cheque just received and bye bye to the conman of canone.

sheldon

1,401 posts

Posted by sheldon > 2019-04-08 09:15 | Report Abuse

There's a write up on The Edge on this - go to get a copy

Posted by Lukey_Greek > 2019-04-28 09:48 | Report Abuse

Checkmate

tsiang

3 posts

Posted by tsiang > 2019-06-03 20:13 | Report Abuse

so how shareholder will receive the money after Canone done the acquisition? when will shareholder receive money ?

Larrytrader

1,453 posts

Posted by Larrytrader > 2019-06-10 22:52 | Report Abuse

Same question

Posted by Gore Victor Lee > 2019-08-29 15:09 | Report Abuse

WONDER WHEN WE CAN GET THE MONEY...ANYONE ASKTHE CANONE BOSS?

Posted by Gore Victor Lee > 2019-08-29 15:11 | Report Abuse

THE AGM HELD ON 24 MAY 2019, THE BOSS SAID WILLPAY BY 3 MONTHS.......NOW ALREADY 3 MONTHS....HOPEFULLY GOT LATEST INFO...AND NEWS

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