i think this share worth more than the share price now, look at the newly released annual report, top 20 shareholders almost hold by institutional investor like Lembaga Tabung Haji, Public Bank, Kenanga, Citibank, etc....
the era of zero par value will be coming soon and all the share premium of company will be consolidated into share capital. by doing this bonus issue is one of the action to be taken. ksl has about 180mil in share premium and they able to give 1 bonus share for every 5 ordinary share.
Moving forward, the Group will continue to do what we always do to build affordable houses because we see the potential of this market sector, in our fl agship projects, including the Taman Nusa Bestari, Taman Bestari Indah, Taman Kempas Indah, KSL Residences @ Daya, Canary Garden @ Klang and Commercial City @ Bandar Bestari which have successfully recorded encouraging sales albeit a cautious property market backdrop.
With efficient planning and tight cost control, assuming property market is improving and bank financing for the purchase of properties continued to be abundant and easily available for the properties purchasers with lower rejection rate, we are confident of another year of good performance and hence, looks forward to a profitable year ahead.
compare with some other property counter- E & 0 - Eps 3 to 12 cents/year but price 1.83 country heights - losing money almost every year but price 1.33, LBS Eps 12 to 15 cents/year but price 2.09, Daiman Eps 6 to 12 cents but price 2.26. However KSL with consistent EPS 30 to 50 cents/year but price 1.23. Clearly its a mispricing for KSL.
The board have to walk the talk, if declare div as what they comitted/promised, the share price will move, no need for them to support the share price.
now they are pressing price down for ksl-cg to be cheap. Expired 6 Jun. After this only they will push. $120 million to company upon conversion. So just buy and keep. My 2 cents view.haha
@enid88, when you buy the ksl-cg warrant, you will need to convert it to share on expiry.Its 1:1 @ 1.20/share. There are 100 million warrant shares x $1.20 = $120 million
@goodguess, this time you have wrongly guess. ksl-cg is not issued by ksl and it can't be convert to ksl ordinary share. it's issued by kibb and after expiry date, kibb will pay the ksl-cg share holders a certain amount based on the exercise value, exercise ratio and number of share hold.
Tabung Haji is actively buying. It is good if they can raise up to 10% and appoint a representative in BOD to encourage the BOD to declare dividends. Currently 3 of the directors earns almost RM9 million each, so they do not have the urgency to reward themselves via dividend.
In the latest guideline for annual report, BOD has to include the Management Discussion & Analysis, which I think missing from their latest AR. And every year their AR looks the same. Sigh
The reason why the share price is not moving is that no consistent dividend was declared for some time. Management renege on its promise to set aside 40% of its net income for dividend. Although the promise was not legally binding, KSL management should not have totally not declare any dividend for at least the past 15 months. Matrix, a similar company to KSL had been declaring dividends consistently. Its share price closed at 2.74 today. KSL's price should be at least that if not more.
After reading through the quarterly report, I have increased confidence to hold KSL for medium to long term. No consistent dividend is good for shareholder too as long as company management can use the profit to generate more income.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Chanyut Sappinit
227 posts
Posted by Chanyut Sappinit > 2017-04-23 16:41 | Report Abuse
Need holding power lol...hold on tight