Posted by moneycashrich > 2019-06-04 13:14 | Report Abuse

so going up. Expected price ?

Posted by fengtzekai > 2019-06-04 14:30 | Report Abuse

Lets work out the math....At RM1 billion offer for F&B, it is worth at least RM5 per Can-One share.

Since it has acquired Kian Joo at RM3.10, and with the cash from F&B sale to pay fully loan for Kian Joo acquisition, Kian Joo share will be free from loan. At 3.10 valuation of Kian Joo per Can-One share is more than RM7 per share.

What about Can-One own business? Its crazy

Posted by Newbiesky > 2019-06-04 14:40 | Report Abuse

trading got suspended?

Posted by noobbie > 2019-06-04 14:42 | Report Abuse

superb deal...really big raya angpow for canone

Posted by ruby20 > 2019-06-04 15:00 |

Post removed.Why?

Posted by waterdragon > 2019-06-04 15:31 | Report Abuse

So, would be possible to 7.00?

Posted by Winningpost > 2019-06-04 16:22 | Report Abuse

A shooting shining star in the dark KLSE sky ..
Stay tuned .I managed to buy in at closing price b4 lunch closing.

Posted by Icon8888 > 2019-06-04 17:01 | Report Abuse

Amazing deal

Posted by waterdragon > 2019-06-04 17:02 | Report Abuse

@fengtzekai so, would it would be possible to go up to 7.00?

Posted by qqq3 > 2019-06-04 20:39 | Report Abuse

they are the grand masters..............

Posted by PotentialGhost > 2019-06-04 22:07 | Report Abuse

After diposal F&B SEGMENT , if their don't pay back dividend to shareholders , canone will be Rm 1 .

Posted by Lukey_Greek > 2019-06-05 10:49 | Report Abuse

The annual AGM has been postponed to end of June from mid Apr in previous years. No EGM is required for the disposal as they just need to add this as an additional agenda for the coming AGM.
A well planned move?? ;-)

Posted by Up_down > 2019-06-05 12:29 | Report Abuse

Disposing golden goose of the company. @@

Posted by hollandking > 2019-06-05 12:31 | Report Abuse

Look carefully who the acquirer is ? Is a private equity firm Southern Capital Group Pte Ltd. Take note of this.

Posted by James Ng > 2019-06-05 12:36 | Report Abuse

https://klse.i3investor.com/blogs/general/209666.jsp
[转贴] [CAN-ONE BHD：缅甸的两家新工厂于2019年第一季度开始运营。由于这是一个新项目，冠旺只能预计这两家工厂在开业后4至5年内会做出积极贡献] - James的股票投资James Share Investing

Posted by Up_down > 2019-06-05 12:51 | Report Abuse

Canning industry is certainly good in long term. No matter how, people still need can food. Moreover, the can making machines (made in Europe) are able to used more than 50 years. The machines will be fully deprecated after 10 years operations. It is a capital intensive industry. Cons..the company may suffer high start up costs when the new factories starting operations and normally is unable to fill the factory capacity immediately.

Posted by Icon8888 > 2019-06-05 19:41 | Report Abuse

likely there will be a special dividend

170 mil shares only. Even if pay out RM1.00, it is only RM170 mil

Posted by fengtzekai > 2019-06-06 10:23 | Report Abuse

@potentialghost...if Canone drop to RM1, the only happy person will be the MD who will sapu all at dirt cheap price....think again

Posted by fengtzekai > 2019-06-06 10:41 | Report Abuse

You need a strong heart to follow this counter....stingy on dividend but otherwise a lot of excitement. But if you analyse deeper, they are very very shrewd in their dealings....

1. If you analyse from the annual report, there is a bargain purchase gain of 308 million, meaning value per Kian Joo share in canone book is RM3.10 + RM0.70 = RM3.80 per share. They are only paying RM3.10 per share for it

2. If you follow canone history, the acquisition price of F&B is RM12 million for the first 80% and 39.753 million shares in exchange for the remaining 20%, reported to be worth RM113 million. The total gain from disposal at RM1 billion will be a whopping RM875 million!

3. As at 31 December 2019, the total assets in food product division is RM555 million and total liability is RM312 million. Assuming this all belong to F&B, the net assets they are now selling is worth RM243 million.........gain from disposal will be a whopping RM757 million if dispose at RM1 billion!.

4. It took Canone only 13 years to build up F&B from a seemingly low volume low profit in 2006? to a RM1 billion company

5. From Kian Joo & F&B transactions alone, Canone profit will be at least RM308 million + RM757 million.....in excess of RM1 billion

6. In Q1, you can work out the net assets per share to be worth RM7.45 (including Kian Joo bargain purchase). If you include gain from F&B disposal, the net assets per share will jump to RM11.40 per share

Shrewd piece of business? sure..... Dividend? Lets pray for it

Posted by brucewayne77141 > 2019-06-06 14:49 | Report Abuse

Tp?

Posted by dompeilee > 2019-06-07 09:06 | Report Abuse

dompeilee FINALLY! I'm clear in capital gain after buying high @ $3.3675 on 3rd Feb '17! =)
04/06/2019 10:32 AM

SOLD some Canone @ 3.90+

Posted by zhangliang > 2019-06-07 15:14 | Report Abuse

4.50-5 at least

Posted by Noni > 2019-06-07 18:59 | Report Abuse

Price today up to 3.83, market cap how much can it still go ?

Posted by mcheat > 2019-06-07 22:08 | Report Abuse

At 3.83 this counter is unbeliveably cheap. The market cap is less than RM750 million, still lower then the value of F&B which it hold 100%. If i am south capital, i might as well launch an offer on canone and get the rest of the business free and still does not cost me that much!

Posted by Noni > 2019-06-09 19:31 | Report Abuse

Thanks for the info

Posted by zhangliang > 2019-06-11 16:14 | Report Abuse

agree logic is the subsidiary is v valuable, whilst mother company has liabilities. But with impending sale, they will b able to pay off their short term liabilities. Collect on weakness will break RM4

Posted by Noni > 2019-06-12 11:10 | Report Abuse

Got it, thanks.

Posted by shareguru > 2019-06-14 15:16 | Report Abuse

Done!!! Next week fly!

Posted by ruby20 > 2019-06-14 15:44 | Report Abuse

Wont pay whole chunk as dividend la, surely mostly will be used to pare down debt

Posted by brucewayne77141 > 2019-06-15 09:22 | Report Abuse

It will be interesting after AGM

Posted by fengtzekai > 2019-06-16 07:32 | Report Abuse

The edge reports really does not do justice to how good the deal is, in my opinion.

1. In short, the disposal value will be between RM800m and RM1 b of which RM750m will be paid upon completion. The balance will be paid later. If not paid, it can be converted to shares of Wholesome Dairy which is the new owner of F&B. Meaning if this is not paid, Can-One gets to own shares in F&B again.

2. The balance sum not paid now will attract interest at 8% per annum which, in today's world, very high. I dont think Can-One own borrowing cost is that high...

3. After disposal of F&B, gearing ratio will be between 0.55-0.79 depending on the disposal amount and how it is settled. This will put the old debate on how high the gearing of the group to bed.

4. After the completion, together with consolidated adjustment on Kian Joo, the profit for the year could soar to between RM1b to RM1.2b.

5. Net assets per share will increase from RM4.32 as at end of 2018 to between RM9.22 to RM10.44

No mention on whether there will be a special dividend or not though......

Posted by wendyuong > 2019-06-16 16:25 | Report Abuse

Hi! May I ask whose are the competitors of Can-One?

Posted by Lukey_Greek > 2019-06-17 22:28 | Report Abuse

RM40m & RM26m has been reserved for dividend and capital repayment from this disposal proposal (about 30-40 sen per share). Hopefully these will be distributed to the shareholders for the coming group re-organisation proposal.

Posted by chl1989 > 2019-06-18 09:21 | Report Abuse

buy on weakness. min rm5

Posted by mcheat > 2019-06-18 14:21 | Report Abuse

MIDF priced Can-One at RM3.65. BCT Asia priced them at RM5.30. NTA after acquisition and disposal is between RM9-RM10 according to announcement.....

Posted by Lukey_Greek > 2019-06-18 15:08 | Report Abuse

Same TP before & after the F&B Nutrition disposal? It shows MIDF is only good at assess current P&L instead of the co business. Instead Mr Yeoh has all in in can-packaging business by switching from dairy.

Posted by klm80 > 2019-06-19 15:46 | Report Abuse

collecting low now.. before you regret.

Posted by chl1989 > 2019-06-19 16:55 | Report Abuse

tq midf. i can buy low now

Posted by Kawkaw > 2019-06-19 20:35 | Report Abuse

310

Posted by gozilla88 > 2019-06-20 13:22 | Report Abuse

can one === con one..... this counter always con people.... confident will drop below 2.00.... Midf research is bed time story cannot believe.....

Posted by fengtzekai > 2019-06-20 15:46 | Report Abuse

@gozilla88 Maybe you can share how you have been conned by this counter.

This is one of the counter with the lowest profile, never thumb their chest telling people how good they are. Listed in 2005 at RM1 and has pulled off a small fish eat big fish stunt, built F&B business from virtually nothing to RM1 billion dollar company and in the meantime, never ask shareholders for a single sen and still pay annual dividend of between 3-5 sen.

To me it is a fantastic counter amid low dividend payment and low profile.

Posted by gozilla88 > 2019-06-21 10:51 | Report Abuse

Trust KYY....the feeling being con by con one..... broken heart with hard earn money..... away from this counter .... else will be conned....

Posted by fengtzekai > 2019-06-21 15:10 | Report Abuse

@gozilla88 Now that I know your source of frustration, you have my sympathy...

Posted by Larrytrader > 2019-06-21 17:18 | Report Abuse

This company when give KIANJOO shareholders money?

Posted by Larrytrader > 2019-06-21 17:18 | Report Abuse

Can anyone give me a clue

Posted by mcheat > 2019-06-21 21:53 | Report Abuse

@gozilla88 Continue to trust Uncle Koon and curse the company for not living up to what Uncle Koon say. I like that. :)

Posted by mcheat > 2019-06-21 21:54 | Report Abuse

@Larrytrader for those who accepted the MGO at RM3.10, they have received their payment. For those remaining 2% who did not accept the MGO, I think the money will be eventually paid out once the whole compulsory acquisition is completed. You can refer to their announcement.

Posted by Larrytrader > 2019-06-24 12:44 | Report Abuse

@mcheat Thanks for the infp

Posted by Jim Tan > 2019-06-27 17:34 | Report Abuse

Anyone went to the AGM?

Posted by ruby20 > 2019-06-27 18:15 |

Post removed.Why?