After so many conversion of preference shares to ordinary shares, the new owner names haven't been declared, Bursa should reprimand the new owners who didn't declare their names
Wow, the co. has gone aggressive indeed in the $-lending biz. Total loans as at end-March amounted to RM106m, of which RM101.4m is secured. The security-to-loan ratio is very comfortable assuming "accurate" security valuations.
The disposal of Klasik Ikhtiar Sdn Bhd to result in RM10.8m-loss (Kan ni neh!), hopefully this is the last kitchen sink item and no more negative surprises going forward.
I would stay. The loss on disposal does not involvement new cash outflow. If the ultimate tai ko paid 54sen cash to convert ICPS, their costs should still be around 40+sen assuming the party taking up the private placement at 20.6sen is part of the same controlling group.
Depending on how you view the stock. If you see KTG as a
(1) Fundamental play, then how it invests its cash from ICPS conversions should be the focus given substantial discount to NTA/share. I personally like the cautious investment into glove business even though it is no longer hot now. Generally management that is worth its salt should be able to generate a positive return and vice versa. I am neutral on the money lending business cos it all depends on how the co manages its credit risks. KTG's track record in this business is too short for anyone to make a judgment. I absolutely hate the LCEL investment, which is fit for insane mind only.
(2) Speculative play, then the point I posted earlier means the ultimate tai ko, AT SOME POINT (I don't know when!), would play up the share price to at least 50-100% above their costs to ENABLE profitable distribution. That would suggest a 60-80sen target range, easily.
Of course, the most dirty way is to keep stuffing duds to KTG for cash, and that would eventually tank the company. Should that happen, minority investors should gang up to appeal to SC for serious punitive actions.
I think speculative shares adversely affected by the big "hidden hand" article in The Edge Weekly. Everyone is watching and wondering whether to participate....The KV-group overplays their hands la....authorities have to do something lest kena "tiau" kow kow.
On the 15 March,Mr Tan Tow Hua,the founder of Chipseng Heng who subscribed 84,087,000 of private placement shares by Chipseng Heng Holdings Sdn Bhd- deemed interest pursuant to Section 8 of the Companies Act 2016 by virtue of his shareholdings in Chipseng Heng Holdings Snd Bhd and please keep in mind,the important name of registered holder is HONGSENG CAPITAL SDN BHD pledged securities account for Chipseng Heng Holdings Sdn Bhd
What does it mean? The answer is HONGSENG CAPITAL SDN BHD and Chipseng Heng Holdings Sdn Bhd both are very close related to each other
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....
cg14134
500 posts
Posted by cg14134 > 2021-04-08 11:15 | Report Abuse
"Believe it or not, I am walking on air...." The older folks will get it. Pls give us that, KTG