Posted by kenneth89 > 2016-02-24 09:34 | Report Abuse

1.31

Posted by kusmitea > 2016-02-24 14:48 | Report Abuse

With a dividend policy of 40% and 9month net profit of RM202 million, assuming a annualized profit of RM269 million, a 40% dividend payout will result in RM107.6 mil or 10.7 sen per shares.

As i am expecting a slower property sales in Q4, and hence a lower 12month net profit as compared to the annualized profit of RM269million.

As such, I am expecting a dividend pay out of atleast 6sen in the upcoming announcement. (Note: KSl has already distributed 2 sen during October for FY2015.)

At the current price of RM1.31, 6 sen is equivalent to 4.58%.

Posted by kusmitea > 2016-02-24 15:07 | Report Abuse

Agreed that the upcoming Q4 is full of uncertainties or may even perform badly. However, i see KSL as a safer property choice due to its cash cow, KSL city mall + resort (located 10min away from MY-SING immigration) which parked under property investment, which many would see this as recurring income!

With more than 700k square feet lettable area, it generates around RM70mil a year, and it is currently only valued at RM300mil in the book! WIth a conservative capitalization rate of 8%, it should worth atleast RM875 million!

Not to mention, they have around 2100acres of landbank in Malaysia, with a relatively low gearing!

Posted by hng33 > 2016-02-24 15:26 | Report Abuse

Bought back some KSL at 1.30

Posted by hng33 > 2016-02-25 15:35 | Report Abuse

Sold back all at 1.32, reap contra gain, free up capital, swap to UOA at 2.09-2.10 for better dividend yield

Posted by upsidedown119 > 2016-02-25 17:03 | Report Abuse

Investors cautious about q4 results.

Posted by hng33 > 2016-02-25 17:21 | Report Abuse

Upsidedown119

Frankly, I am afraid of Ksl any surprise in q4 result, either eps or dividend payout. Therefore, better wait for its result release before re enter back.

Posted by kenneth89 > 2016-02-25 17:35 | Report Abuse

base on prior result date... today or tomorow will release the QR

Posted by travoltakeong > 2016-02-25 17:37 | Report Abuse

Resistance Level (R3) = 1.3500
Resistance Level (R2) = 1.3400
Resistance Level (R1) =1.3300

Pivot Point = 1.3200

Support Level (S1) = 1.3100
Support Level (S2) = 1.3000
Support Level (S3) = 1.2900

Posted by kusmitea > 2016-02-25 17:40 | Report Abuse

Hng33, good pick on UOA! I like them too! Net cash and gives good dividend! but i am quite worry about the sustainability of the revenue in the next few q!

Anyway, good luck to all KSL shareholders! Dont think it will be fantastic, dont get panic! keep for long term :D

Posted by hng33 > 2016-02-25 17:53 | Report Abuse

Kusmitea

Both UOA development and Ksl share some similarity, both have highest profit margin among property developer and both adopt practice centralize sourcing for building material to reduce cost and have very low carry land cost.

Posted by upsidedown119 > 2016-02-25 18:04 | Report Abuse

hng33. I agree with you. I wish I have your sharpness and caution. But not too late for me to learn from people like you. KSL in 2014 and 2015 quarterly results led many to holland. They lied brazenly about their unbilled sales for financial ending 31/12/2014 leading many to expect good results and drive up the price. Frankly speaking I am inclined to report them to the SC!

Posted by hng33 > 2016-02-25 20:49 | Report Abuse

upsidedown119

Thanks for your continue remainder of Ksl wolf and insider affair, I always keep in mind and trade extra caution with ksl to avoid unnecessary risk.

Posted by hng33 > 2016-02-26 18:12 | Report Abuse

Ksl result release, q4 eps 6.6 sen.......but no proposed dividend !? Let's see how market response next week first before decide to re enter back

Posted by bagan > 2016-02-26 23:24 | Report Abuse

based on 40% div policy, we can expect another 8cents...

Posted by upsidedown119 > 2016-02-27 02:08 | Report Abuse

After deducting the fair value adjustment of RM56 million, the operating profit is RM212 million. At 40% the payout for the year should be RM84.8 million. RM47.8 million already paid out. Therefore RM37 million or about 3.667 sen per share should be paid out for FY ended 31/12/2015. Wonder why management did not declare divvy as promised?

Posted by moneySIFU > 2016-02-27 02:43 | Report Abuse

The management did promise few years back on the dividend payout of about 30%-40% (somewhere in 2010 if not mistaken), but then failed to deliver the promise subsequently, the management explained that they needed to reserve cash for future development.

Now they promised again in 2014 or 2015 to give out 40% profit as dividend, will they fail to deliver what they promised again? Very likely.

Posted by upsidedown119 > 2016-02-27 03:36 | Report Abuse

They passed a shareholders' resolution on 40% dividend payout if I remember. It was stated policy.

Posted by moneySIFU > 2016-02-27 03:42 | Report Abuse

Dividend payout policy is a unconditional promise & is not a guarantee.

Such policy has never been passed as resolution by any plc in bursa.

ONLY stupid management will pass it because it will become guarantee then.

Posted by upsidedown119 > 2016-02-27 04:11 | Report Abuse

See link: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1193193

It was announced by the Board in a filing with Bursa, BUT it is legally NON-BINDING and "subject to modification (including reduction or non-declaration thereof) at the Board’s absolute discretion".

Posted by upsidedown119 > 2016-02-27 04:12 | Report Abuse

It was a BOD resolution and not a shareholders' resolution.

Posted by kenneth89 > 2016-02-27 08:26 | Report Abuse

fy 15 Not 265m? why is 212m? and 265m of 40%=10.6 cent dividend,mean another 4-5.6 cent need to declare right?

Posted by kenneth89 > 2016-02-27 08:29 | Report Abuse

fy15 only declare 2cent dividend, mean another 4-8 cent

Posted by upsidedown119 > 2016-02-27 19:25 | Report Abuse

Dividend only declared on operating profit. RM56 million is fair value revaluation of investment properties - not eligible for paying dividend.

Posted by upsidedown119 > 2016-02-28 15:46 | Report Abuse

On the plus side, the fair value revaluation shows that KSL's investment properties is increasing in value even as some REITs (e.g. AMFIRST) have to adjust downwards as their property decrease in value due to the Market down-turn. KSL's revaluation totaled RM144 million for 2014 and 2015 (88 + 56) and reflects the superior location of those properties as well as good management. So KSL is at least a medium term hold since the property market up-turn again.

Posted by upsidedown119 > 2016-02-28 15:54 | Report Abuse

KSL's price is near rock bottom and with buy-back support, should not go down drastically as before. If sell now, wealth will be transferred to others..!

Posted by bagan > 2016-02-29 06:53 | Report Abuse

At this level u can't go wrong n make money next upcycle n along the way dividends

Posted by kenneth89 > 2016-02-29 08:47 | Report Abuse

so whereis the 40% policy?2cent?

Posted by upsidedown119 > 2016-02-29 09:44 | Report Abuse

40% policy not legally binding. Many did not read the fine print of the KSL's BOD resolution.

Posted by kenneth89 > 2016-02-29 09:57 | Report Abuse

not legally binding? omg... now ksl share going up or down?

Posted by moneySIFU > 2016-02-29 10:57 | Report Abuse

upsidedown119, that announcement is not resolution, it was merely kind of press release.

You can see here for definition: http://www.nbc.com.my/board-resolution.html

Some more, KSL directors stated that:
The ability, quantum, and frequency of KSL to pay future dividends to the shareholders are subject to various factors including but not limited to the financial performance, cash flow requirements, availability of distributable reserves and tax credits, future operating conditions, as well as future expansion, capital expenditure and investment plans of KSL Group.

It means the directors of KSL TALK COCK only.

Posted by moneySIFU > 2016-02-29 11:03 | Report Abuse

It is like:

I will give you one million cash, provided that IF:

1. I hit the jackpot
2. subject to my cash flow requirement
3. depend on the availability of my money in bank,
4. my future commitment
5. my future investment plan
6. my other financial status

Posted by somchik > 2016-02-29 11:08 | Report Abuse

frankly with softening of properties demand , oversupplies , cheap oil and soon basic materials and
cheaper prices for new launches, just run away and no holding when still got value .. waiting for real bargain at 45 sen.. kikiki

Posted by somchik > 2016-02-29 11:28 | Report Abuse

if you scrutinise the the chart from 2013 till 2015 , just examine the volume , the push up b4 splitting , and examine the co cash during 2014 and 2015 , you may get the rough picture,plus the sort of properties launches ksl has in southern Klang near Banting and in Johor , the possiblity for the co to churn more profit in the near future is very thin.. let it go let it go..

Posted by somchik > 2016-02-29 11:32 | Report Abuse

pump n dump pattern

Posted by kenneth89 > 2016-02-29 14:58 | Report Abuse

http://www.thestar.com.my/business/business-news/2015/03/17/ksl-puts-in-place-minimum-40-dividend-payout-policy/

Posted by kenneth89 > 2016-02-29 14:58 | Report Abuse

U MEAN THIS 1 :? UPSIDE

Posted by upsidedown119 > 2016-02-29 15:42 | Report Abuse

@kenneth. Yes this is what I mean. KSL price is stable. Dumping already factored in before quarterly results. I think overall, KSL management is doing a reasonable job given the market conditions. The fair value gains were among the highests for property investment.

Posted by kenneth89 > 2016-02-29 16:27 | Report Abuse

i waiting their dividend... but so sad ... no declare?

Posted by slbzr > 2016-02-29 18:21 | Report Abuse

ya, waiting till my neck long aready, they can change the div policy as and when they want

Posted by travoltakeong > 2016-02-29 22:25 | Report Abuse

I am confuse...are they going to pay dividend or not...sounds like twist and turn....,.

-------------------------------------------------------------------------------------------------------------------------

Property developer KSL Holdings Bhd has set a dividend policy of paying at least 40% of annual net profit from operations.
The company said the dividend policy, excluding fair value gains, would take effect from financial year ending Dec 31, 2015 (FY15).

“Shareholders should note that this dividend policy, which shall take effect from financial year 2015, indicates the board’s intention of rewarding shareholders and is not legally binding, and therefore, subject to modification (including reduction or non-declaration thereof) at the board’s absolute discretion,” KSL said in a filing with the stock exchange.

KSL chairman Ku Hwa Seng, in a separate statement, said the dividend policy was not only intended to reward existing shareholders, but also to attract and establish a larger institutional investor base in the company for the long term.

Ku added that the quantum and frequency of KSL dividends would be subject to various factors, including the group’s financial performance, cash-flow requirements, capital expenditure and investment plans.

Posted by bagan > 2016-02-29 22:46 | Report Abuse

dont give also ok but larger institutional investor wouldnt stay around....

Posted by travoltakeong > 2016-03-01 11:18 | Report Abuse

KSL policy and chairman Ku Hwa Seng statement ,. is steering investors away.....he and his team should learn Public speaking......too bad...doesn't know how to impress investors.....

Posted by upsidedown119 > 2016-03-01 14:52 | Report Abuse

KSL should now concentrate on making KSL more profitable predicating on it's land holdings in strategic locations and its well developed investment properties like Malls and hotels. After the debacle in 2014, investors are looking at action and results and not words which they would now regard with a lot of salt.

Posted by upsidedown119 > 2016-03-02 11:24 | Report Abuse

KSL is reserving its cash for property investments. It's a longer term dividend play and at its price, still one of the better stock.

Posted by upsidedown119 > 2016-03-02 15:57 | Report Abuse

The plus side of no DRP this quarter is that there is no dilution of per share value. On the other hand, there is value accumulation.

Posted by travoltakeong > 2016-03-02 22:27 | Report Abuse

KSL shud be at least 2.36.....Tauke Ku Hwa Seng must be aggressive to impress investors...don't twist and turn statement....

Posted by upsidedown119 > 2016-03-03 12:43 | Report Abuse

There is still a dilution from warrants of 29 million shares by August 2016. So no dividend this round means no further dilution.

Posted by SpaceNeedle > 2016-03-03 15:46 | Report Abuse

Base on latest financial report, KSL has RM53,703k cash, equal to 5.3 cents per share. Wonder where it gets more money to pay dividend to fulfill 40% payout rate? sell assets? drawdown of borrowing? issue more share from warrants, or...?

Posted by upsidedown119 > 2016-03-03 15:47 | Report Abuse

KSL is not going to fulfil 40% payout rate this time. Its commitment was legally non-binding.