guys, heard that the AGM was not too good. The management was not able to answer the questions posted and seems like they are hiding something. Any views?
The management had answered all the question from MSWG and had given satisfactory explanation .Kumpulan Fima management is strong and always take care of their shareholders.Good dividend policy and etc.
There was a question posted by one of the investor, will kfima buy back their own share in view that the share is undervalue . The replied was no as kfima retained earning still in -ve position. ..what ur view on this?
hmmm...the chairman Dato razi did mention that by looking at their company level on financial year 2013, they are still having losses in their retain earnings...they did not really address how the group intend to use the cash of rm270million...but he did mention that when the retain earnings show positive gain,they might consider initiate the share buy back plan..nevertheless good to know from you that the major shareholders are buying kfima shares...recently?
This guy made a valuation of Kumpulan fima assuming its business's cash flow is perpetual with no more growth. This is a conservative assumption. He came out with an intrinsic value of RM3.30.
I used earnings power valuation which also with the conservative assumption of no future growth for Kumpulan Fima's business but with different data, discount rate, and method, and I have the same valuation as his. Is it a coincidence?
gark, definitely it is a coincidence that two completely different methods using different data came up with an approximately the same intrinsic value.
The interesting part is both the above method assume no growth in earnings in Kfima's business from now on. This is conservative as generally the cash flow should grow at about the inflation rate, at least.
I remember one investment bank also came up with the same fair value some time ago using another completely different approach, a comparable PE ratio.
All these valuations were done independent of each other as one can clearly see.
Ah, I may be unknowingly trying to justify the value of Kfima here, a cognitive confirmation bias.
I would be more than happy if Kfima can utilise its section 108 tax credit by announcing 10 sen per share special dividend to shareholders when they announce the result next week. Otherwise, the amount will be forfeited by end of Dec 2013.
Hi, Pradeep and Kahfiehlai, I am new and wish to learn from both of you about share investments. Can you all share your portfolio with me? My email is chingco2004@yahoo.com
Hi someone shared my analysis on kumpulan fima here about a week ago and I got quite a lot of viewers from this site. Anyway, I finished part 2 of my analysis, so I decided to post the link here in case anyone is interested. I hope my analysis is sound and you enjoy reading it! thx!
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ready4cheeseburger
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Posted by ready4cheeseburger > 2013-11-12 13:08 | Report Abuse
guys, heard that the AGM was not too good. The management was not able to answer the questions posted and seems like they are hiding something. Any views?