Posted by JadeSchira > 2019-03-24 22:27 | Report Abuse

No delay. Look at e&o, Wan Azmi already hinted gettig payment soon.

Posted by cocqueen > 2019-03-25 09:35 | Report Abuse

yes payment coming this week!!

Posted by commonsense > 2019-03-25 14:43 | Report Abuse

A lot of investors are buying into the company with the hope of a special dividend once the disposal of Splash is completed. This was based on previous board decision to give special dividends to shareholders upon disposal of Kumpulan Hartanah Selangor Berhad (KHSB) to Kumpulan Darul Ehsan Berhad for RM212.8mil back in Sept 2013.

The difference between the disposal of KHSB and Splash is that the disposal of KHSB resulted in a gain on disposal to KPS of around RM335mil where else the disposal of Splash will result in a loss of disposal (amount will depend on when the disposal will take place. In the September 18 announcement, the loss on disposal was around RM330mil). KPS has already taken a big impairment on its investment in Splash in FY18 to reflect the lower offer made by Pengurusan Air Selangor.

Another issue that investors need to take into account is KPS future profit after disposal of Syabas.
Based on the 4Q18 result (where Syabas contribution was zero to reflect the potential disposal), the company could potentially deliver a profit of RM17.4mil to its share holder per quarter. However, the quarter high result was also due to a one-off fee derived from one of its international licensees which is non-recurring in nature. Excluding this, the profit could potentially fall to only around RM 2-3mil. By simply extrapolating the quarterly profit, KPS could potentially only deliver a profit of RM12mil to its shareholders upon disposal of SPLASH.

That being said, with the cash received from the disposal, KPS can actually use it to pay off all of its debt. This will result in a higher profit of around RM10mil per quarter derives from savings of interest payments. With the interest payment savings, the full year profit could potentially reach around RM50mil.

At the current share price, KPS would be valued at around 15x PE which is not that expensive. However, this all depends on what the company will do with the cash received from the disposal of Splash. If the company decides to pay more dividends then the cash left for payment of debt would be lower hence resulting in lower PAT in the future (as the company will still have to pay interest payment).

If you are looking to hedge your portfolio outside of KPS (due to the uncertainties of Syabas’ proceeds utilisation), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.4x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.

FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).

MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.3x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.

Good luck.

Posted by cocqueen > 2019-03-25 14:58 | Report Abuse

no commonsense !! do your homework properly la syabas is owned by air selangor..wat does it has to do w kps ? and why r u promoting mbmr here ?..this is for kps counter la....

Posted by keyin > 2019-03-26 18:11 | Report Abuse

Crashed

Posted by cocqueen > 2019-03-27 21:35 | Report Abuse

KUALA LUMPUR, March 27 — Gamuda Bhd’s net profit declined 23 per cent year-on-year to RM173.14 million for the second quarter ended Jan 31, 2019, as the group had stopped recognising its share of Syarikat Pengeluar Air Selangor Holdings Bhd (Splash) profits.

The water concessionaire, previously 40 per cent owned by the group, was sold to Pengurusan Air Selangor Sdn Bhd for RM2.55 billion last year. The upfront payment of RM1.9 billion is expected to be received in March 2019.

Posted by cocqueen > 2019-03-27 21:36 | Report Abuse

i told u already...payment is coming

Posted by crownford_bl > 2019-03-27 22:37 | Report Abuse

""Another issue that investors need to take into account is KPS future profit after disposal of Syabas. Based on the 4Q18 result (where Syabas contribution was zero to reflect the potential disposal), the company could potentially deliver a profit of RM17.4mil to its share holder per quarter."-I think it should be Splash instead of Syabas. Quite interesting statement.

Posted by keyin > 2019-03-28 13:14 | Report Abuse

Crashed

Posted by cocqueen > 2019-03-28 15:13 | Report Abuse

is time to splash the cash!!!

Posted by IronShirt > 2019-03-28 15:29 | Report Abuse

very difficult to make money here, nobody sell/buy more 10,000 shares

Posted by cocqueen > 2019-03-28 15:44 | Report Abuse

look at gamuda..

Posted by keyin > 2019-03-28 16:13 | Report Abuse

Crash storm coming

Posted by husky88 > 2019-03-28 22:51 | Report Abuse

Splash no more hot news lol. Nobody interesting anymore

Posted by keyin > 2019-03-29 09:56 | Report Abuse

Only jj ....Still dreaming

Posted by cefiro22 > 2019-03-29 18:57 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6110789

Posted by keyin > 2019-03-29 19:40 | Report Abuse

U turn government,

Posted by cocqueen > 2019-03-29 20:15 | Report Abuse

most will be in china next week that's why postponed..

Posted by keyin > 2019-03-30 09:58 | Report Abuse

U turn government, so u turn lol.
Bo kangtau .

Posted by IronShirt > 2019-03-30 11:52 | Report Abuse

I like 60cents dividend (300mil special dividend) plus 5:1 bonus issue,,,,bought 10K @1.380

Posted by IronShirt > 2019-03-30 14:45 | Report Abuse

Last round contra loss, yip_8988, he sounds like roger123

Posted by IronShirt > 2019-03-30 15:55 | Report Abuse

say also cannot? Uncle Koon give free speech, write long letter,,,,ask ppl to goreng Dayang,,,no problem,,,,, sure this yip_8988 is roger123

Posted by IronShirt > 2019-03-31 17:24 | Report Abuse

BUY, Buy before price pushed up to 2.00,,,,,,,,,,,,Expect 10 April announcement( 15April Deadline)

Posted by husky88 > 2019-03-31 18:20 | Report Abuse

Dreaming lol

Posted by IronShirt > 2019-03-31 19:01 | Report Abuse

my remisier told me this morning, he said Gamuda already go above Banker's Tp but kwap and Epf are still Buying----Why? He believe next week Buy order from BB will increase further

Posted by husky88 > 2019-03-31 22:21 | Report Abuse

Dreaming again.

Posted by IronShirt > 2019-04-01 10:47 | Report Abuse

Gamuda going for 3.0 soon

Posted by IronShirt > 2019-04-01 10:59 | Report Abuse

This week you can still get Kps under 2.0......next week kps will be chasing Gamuda to 3.0....Two horse race to 3.0

Posted by keyin > 2019-04-01 11:09 | Report Abuse

Crash lol

Posted by IronShirt > 2019-04-01 11:24 | Report Abuse

Last round Affin Brokerage traded Kps the most up to 2.0.....affin broker estimate kps free float
is around 10--25million.....The rest are tightly held. Any Hard Goreng without contra players will
surely reached 3.0

Posted by IronShirt > 2019-04-01 11:56 | Report Abuse

refer to bloombery, 23 july18,,,,,kps= rm 2.02 Vol. 3,684,300

Posted by keyin > 2019-04-01 15:25 | Report Abuse

Dreaming king

Posted by upsidedown119 > 2019-04-01 16:31 | Report Abuse

KPS is very good stock. But management got no imagination going forward.

Posted by IronShirt > 2019-04-02 14:06 | Report Abuse

still got block

Posted by crownford_bl > 2019-04-02 23:15 | Report Abuse

Jjchan is a big player in kps? Insider? What is your target price?

Posted by crownford_bl > 2019-04-02 23:16 | Report Abuse

You must earned alot in this counter. I am interested in this counter. Might to share your strategy?

Posted by keyin > 2019-04-03 09:10 | Report Abuse

Jjchan Bo Kang tau king

Posted by upsidedown119 > 2019-04-03 09:56 | Report Abuse

Very strong resistance at 1.45-46.

Posted by calvinteo > 2019-04-03 10:07 | Report Abuse

cantik at 1.4- being highest price at this moment.

Posted by crownford_bl > 2019-04-03 10:58 | Report Abuse

JJchan..... You are a big player? Only Big player can hold the price at 2.00. You still holding what you bought at 1.90-2.00?

Posted by upsidedown119 > 2019-04-03 11:57 | Report Abuse

Another fart or the same Fart2?

Posted by upsidedown119 > 2019-04-03 15:46 | Report Abuse

Resistance all the way to 1.5.

Posted by keyin > 2019-04-03 18:51 | Report Abuse

Big trap

Posted by upsidedown119 > 2019-04-04 10:09 | Report Abuse

Don't think it is a trap.

Posted by cocqueen > 2019-04-04 14:08 | Report Abuse

with reclassification of sectors, now funds are allocated to buy especially from islamic takaful

Posted by luiws123 > 2019-04-04 15:28 | Report Abuse

Looking at individual done volume,only small fishes coming in Big fishes are out of sight

Posted by upsidedown119 > 2019-04-04 15:29 | Report Abuse

Must close above 1.50 to have chance at 1.60 tomorrow.

Posted by cocqueen > 2019-04-04 15:32 | Report Abuse

charts is pointing to 2...3 white soldiers

Posted by JacNgu > 2019-04-04 15:33 | Report Abuse

SELL KPS

Posted by upsidedown119 > 2019-04-04 16:03 | Report Abuse

Another fart? Why KPS attracts so many farts?