Yeah, if they are really using their share buy-back facility, KSL would not had dropped so much. It should drop at the most 10-15% from its peak like Matrix. But they have the personal incentives to let the price drop because of the DRP i.e. they get more shares for dividend in lieu. But this also means that they expect the share price to rise in the future. Foreign funds also hold KSL and they have been exiting KLSE. So if they return, KSL price will rise.
Hi, i agree with Kenneth on his earlier post. I bottom fish today after make know that Mr Ku bought back and aggressively support the price at $1.25 . Also confirmed the sale progress of Klang project, and not aware of any changes of fundamental and prospect. No clues on any insiders or foreign funds exist. I stay at Singapore, noticed their projects at JB are selling fast and shopping mall / car park are crowded on weekend. yes, i also waiting for CNY ang pow for new Proton.
If the price depends only on big shareholder's support, then play it like hng33. A major driver of the share price is the quarterly profits which fluctuate wildly even when the property market was up-trending. They have huge unbilled sales which is a contradiction. How can a sale which has been completed be left unbilled and therefore not recognised, so that the quarterly can be manipulated? The auditors should query this. But then they are just external auditors and therefore have to 'cari makan' or else they can be sacked!
i thought property payment based on development progress (not sure about how billing work). From property value perspective, the Mall and hotel are hard asset and market value at RM1B. Thought the revenue and dividend are sustainable as passive income to me.
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hng33
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Posted by hng33 > 2016-01-13 15:14 | Report Abuse
sold back all at 1.25-1.26, realize gross 5sen profit :D)