I buy it from RM2.00 to RM3.00 and sold out after it break through RM4.00. Everybody have their own agenda. Treat it as business and we will make profit. If it falls, I buy. Up I will sell. No love involved. Happy trading or investing.
KUALA LUMPUR (May 18): Kian Joo Can Factory Bhd saw its net profit for the first quarter ended March 31, 2016 (1QFY16) drop 58.1% to RM11.87 million from RM28.3 million a year ago due to foreign exchange losses and higher operating costs.
Kian Joo Q1 Revenue up 24%. Gross profit up 29%. Good sign. Profit down 53%. Bad sign. Main reason - foreign currency loss 25.2 million of which 22.3 million unrealised. Take unrealised loss out of equation - profit up should be 34.8 million, up 18%. Why forex loss - USD reserved for capital expenditure and Myanmar investment. Make sense? Judge by yourself. :(
Another share that people should watch out is Canone. If you noticed, it's dropping during the last few days and broke the RM4.00 level. Financial result announcement anytime soon. It may not be good as seen from lower than expected Kian Joo contribution. The F&B nutrition is overpriced as mentioned in this week Focus Malaysia.
I notice the every afternoon session before closing is a 400 or 500 lots to support at higher price to make it close at a nice high price. However, today no closing support is seen. why ? Bad result ? unseen hand at work ? I am very interested.
moneycashrich, sharp eyes you have there. I think its some kind of share buyback by canone, they do it quite frequently (~3 days in a week), but unfortunately not today. I don't see this as a signal of bad results coming.. or maybe it is?
Funny thing is the price tag of F&B is not given by Can1, but by the buyer. It is funny because Can1 should be the one who is eager to announce rather than potential buyer. So to say that F&B is overpriced when buyer is the one announcing it, I just cant comprehend.
By the way, F&B counters are priced at that kind of PE.
@ah_boon is right again. Was thinking about buying Canone again after selling last month. But his comment yesterday made me hesitant. Fortunately, as it turns out. The slide today is likely due to some people already knowing the quarter results. Should wait and see the figures and others' analysis first before jumping in.
Have to admit the price now is looking ever more attractive. I'm looking at whether the support holds. It tends to recover in the afternoon, but it doesn't, there will likely be more bleeding ahead. Can't be too hasty in this kind of gloomy market conditions.
Food products division (F&B) continued provide promising results, which is a good sign but i cannot understand why general cans division keep deteriorating. They explained it as intense competition. Competition from whom? Kian Joo is belongs to Canone also, right?
Its "business value" reflect on stock price this few days. This few days make KYY burnt lot money in account, his future post in blog may update in few days (for decreasing his lossing)
Everybody got their own agenda. If already make money from CAN, then good. If u buy high at RM4.00 and higher. U got struck. Sorry that is wrong perhaps ? I know is good stock. so what? Have to go higher back over RM4.00 then make money. A long painful wait perhaps. Why care what people promote. what is important is to make profits, not their nice HIGH target. What is our Target then ?
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Posted by timetokoon > 2016-05-07 13:48 | Report Abuse
I got koon by Ah Koon. He quietly bought 2.15 and only promote 4.30. Very snaky koon koon