Posted by MZM2511 > 2023-06-28 10:56 | Report Abuse

But I'm still here. With or without rr1688. Going to wait for the day......

Posted by MZM2511 > 2023-06-28 11:16 | Report Abuse

@Patience99. It's all true view...
There is no major activity reported here lately.
I'm halve invested in Kanger....
Still no inclusive decision has been made about my investment in Kanger.

I'm already left Nexgram and Bornoil with a decisive decisions. Stuck in both SCAM counters.

TAYOR

Posted by Konnichiwa > 2023-06-28 15:39 | Report Abuse

Im gonna wait my bro rr1688 to come back. He is the man although I dont know him.

Posted by BILLC > 2023-06-28 15:43 | Report Abuse

Don’t worry,,,,you can find 1688 at Starbucks Batu feringgi in case you miss him so much,,,haha,,,

Posted by fl888 > 2023-06-28 15:45 | Report Abuse

Today buy 1688 at MKT…

Posted by BilisMasin > 2023-06-28 16:07 | Report Abuse

Mekdonal miss him

Kahkahkahkahkah

Posted by Konnichiwa > 2023-06-29 19:50 | Report Abuse

I miss the man

Posted by BilisMasin > 2023-06-30 08:45 | Report Abuse

Kanger is SC4M

Mou cancel
Rugi puluh2 juta
Esos lagi rendah dari market price
Business dispose
Website pun tak update. Tak ada orang kerja meh ???

Posted by BilisMasin > 2023-07-02 11:36 | Report Abuse

Kanger Scam suwei 4444

Posted by Konnichiwa > 2023-07-03 12:37 | Report Abuse

rr1688 will come back stronger tomorrow

Posted by imjay0509 > 2023-07-03 22:17 | Report Abuse

welcome back rr1688~~

Posted by elhippo2001 > 2023-07-05 15:50 | Report Abuse

Kanger scamnational

Posted by Konnichiwa > 2023-07-05 20:19 | Report Abuse

Where is the man?

Posted by BilisMasin > 2023-07-07 09:17 | Report Abuse

Soon going to 0.025

Kayaa kayaaa

Kahkahkah

Posted by OKU_2020 > 2023-07-07 09:46 | Report Abuse

Dead Rat.....!

Posted by BilisMasin > 2023-07-10 21:07 | Report Abuse

Tak kaya2 lg ke

Posted by Konnichiwa > 2023-07-12 07:46 | Report Abuse

close shop dy.

I think the management forgot to issue Circular to Shareholders with details of the Proposed Change of Name. Can someone remind them or they believe shareholder will forget too?

Posted by BilisMasin > 2023-07-12 11:42 | Report Abuse

Kanger got no employee maa....
Website pun tak update....
Pakai budak2 intern aja kerja

Posted by Konnichiwa > 2023-07-12 12:31 | Report Abuse

rr1688 sudah lari wei

Siapa boleh volenteer tolong kanger buat circular?

Posted by dem777 > 2023-07-12 14:56 | Report Abuse

Con counter, stay away at all cost!! They made 100 of millions from newbies, same like other penny stocks. May all the operators get their karma back in life

Posted by Konnichiwa > 2023-07-12 15:52 | Report Abuse

🤣🤣🤣 like you said, ppl never wake up

Posted by OKU_2020 > 2023-07-13 17:03 | Report Abuse

dead rat counter

Posted by M55555 > 2023-07-14 11:20 | Report Abuse

Better don't venture anything. Nanti ESOS lagi.

Posted by Konnichiwa > 2023-07-14 21:29 | Report Abuse

Although I miss the man rr1688, finally we are able to enjoy the peacefulness in this forum.

Patience99, MZM, do you agree?

Posted by MZM2511 > 2023-07-14 22:31 | Report Abuse

@Patience99. Agree.

Many board members in certain listed companies in KLSE have deflective objectives in their sitting on the BOD chair. More on finding opportunities towards their own peronal/group interests rather than to fulfil their responsilities for the sake of the companies and its shareholders as a whole.

Legally, they have a chance to steal from the company's coffer...... There are many ways to do it. It happened in many listed companies....

Posted by MZM2511 > 2023-07-14 22:47 | Report Abuse

I still stucked here at Kanger. The reason is relating to the proposed plan by Kanger in doing vaccine business. Big loss in this counter, the second in the list after the scam Nexgram counter....

Posted by MZM2511 > 2023-07-14 22:55 | Report Abuse

My plan is to look at one or two more quarter reports... Hope can see the good news, especially related to the profitabilty of the company.

If no good news, plan to make decision on to leave this counter, as I cut loss at Nexgram with my biggest losses from my individual invested counter ever in my investing history.

Anyway........ TAYOR

Posted by Konnichiwa > 2023-07-15 10:31 | Report Abuse

In every trade, investors should set strategy, target and stick with it. Trading with decision influenced by emotion is not encouraged. 



There are many corporate exercise from 2019 to 2022. 

Let's take a look on the acquisition of Sung Master in 2021. We analyse carefully what happened and how the major investors reacted. 



Referring to the Circular in July 2021 
"The purchase consideration of RM94,789,436 was arrived at, on a willing- buyer basis, based on the PE multiple of approximately 15.0 times to the 51.0% of the latest audited PAT of Sung Master as at 17-month FPE 30 June 2020 of approximately RM12,390,776." 


15 times PE using 17-month result. Let's do simple calculation adjustment, 15times x 17 months / 12 months => 21.25 
ADJUSTED ANNUAL PE VALUATION = 21.25



Before we move further, few thoughts on this: 

1) Does Sung Master worth valuation of PE 21.25? 

2) What would be the usual range of PE in construction segment, considering the size and future growth? 

3) Does the relatively high PE subsequently supported by profit growing performance? 

4) Does investors know or had investors being highlighted the performance of Sung Master after acquisition? 
(will discuss further at the bottom part)
5) Does it make sense to pay the purchase consideration partly by cash and share issuance? What will be the implication to the market with payment via share issuance?



Leave those answers to yourself as an investor. Link your answers to the share price downtrend after acquisition of Sung Master & share issuance, all the way from adjusted RI price RM0.60 to current price RM0.035 (94 loss in value) 
Are the major investors being bearish on the future performance? 




My 2 cents on Sung Master, which should be main revenue stream of the group: 

1) Sung Master indeed performed poorly in FY2022 after acquisition. It made losses in FY2022.
Annual Report FY2022 Page 116 "From the date of acquisition, the subsidiary’s contributed revenue RM9 million and loss net of tax RM73,000." 



2) Quarterly Report Q4 2023 Page 1. Cummulative PROFIT/(LOSS) AFTER TAX ATTRIBUTABLE TO: Non-controlling interest RM2.89 million. This should be PAT attributing 49% NCI stake held in Sung Master. 

Rough estimation if re-gross to 100%, Sung Master generated PAT of RM5.9 million for period of 12 months from 1 April 2022 to 31 March 2023. It may not accurate, just a rough estimation. 



3) FY2023 Q4 profit RM1.6 million mainly contributed by Sung Master. If not Sung Master, the Group quarterly result will be loss making. (Investors already get used to it)



4) Sung Master's estimated PAT RM 5.9m for 12 months did not meet RM20 million net profit estimated by the management. (https://www.nst.com.my/business/2021/09/725001/kangers-new-acquisition-sung-master-deliver-strong-profit-fy21)

Although Sung Master's current result does not meet the performance expectation but it is growing. But the next question would be whether it will grow steadily and achieve profit target. We have limited information. By reading QR report, it looks volatile from my personal view. 


Do you think the management will push for it?

** What are the main reasons that you think resulting price drop 94% over 2 years? Please share your opinion 😁

Posted by OKU_2020 > 2023-07-16 00:25 | Report Abuse

Gone case
beyond repair
Pity MZM2511 who has been tricked by this CON Counter Kanger in addition to Killer Nexgram

Posted by Peace99 > 2023-07-17 20:09 | Report Abuse

Kanger invested rm 142. 9 mil in Antara:
https://www.nst.com.my/property/2021/02/668553/kanger-enters-genting-highlands-rm1429-million-investment-serviced-suites

Can see the progress
https://www.antaragenting.com/site-progress
Am still patiently holding Kanger

Posted by Peace99 > 2023-07-17 20:16 | Report Abuse

Perhaps some one can share their experience dealing with SUNG Master?
http://sungmaster.com.my/aboutus-overview/
Any experience ordering from their E-store?
https://sungmaster.com.my/estore/

Posted by OKU_2020 > 2023-07-17 22:01 | Report Abuse

daeiii.....OLD CURRY
pordahh

Posted by OKU_2020 > 2023-07-18 10:05 | Report Abuse

con counter - dead rat
PITY MZM 2511 - kena liao edi

Posted by MZM2511 > 2023-07-18 22:35 | Report Abuse

Hmmmm - OKU_2020... Still standing by his original TM.. He He He

Posted by OKU_2020 > 2023-07-20 14:05 | Report Abuse

TM ?...who ? ..Dr Warrant ??
your CON-Nexgram ? gone case edi with that one ....?
BTW...you still Matric Lecturer ?...Good Luck $
Latest heard Dr Warrant residing in Pontianak @ Kal Bar Indo
Wanted by Bursa /SC for Warrant / Cheap Penny manipulation@Rigging

Posted by Konnichiwa > 2023-07-20 14:56 | Report Abuse

OKU_2020, you reminded me rr1688....

Anyway, I don't find Kanger's investment in Genting Condo attractive. Neither the company or the management had proven record in managing investment properties. The only way to make profit is capital appreciation upon selling when market is good. Not to forget the capital commitment of RM 71,435,000 reported in AR2022, what's the funding plan? I think the funding part would be interesting as the amount probably due soon and Kanger's cash level is low and has very low bank borrowing. We will find it out very soon.

I saw patient99's comment on China properties. Bro, everything in China sold already.

Now Kanger's CGU are Sung Master & Genting condos. Both are not attractive at the moment.

Posted by MZM2511 > 2023-07-20 15:14 | Report Abuse

TM = Trademark...

Posted by OKU_2020 > 2023-07-20 15:49 | Report Abuse

OKU_2020@@@
still on wheelchair?
-------
thanks for the joke - after all laughter is the best medicine
O K U = Otai Kuat Umno = OKU since 2020

Posted by Konnichiwa > 2023-07-20 16:10 | Report Abuse

@Patience99, ya I understood the two buildings were under Ganzhou Kanger Industrial Co. Ltd. But Kanger already sold Ganzhou Kanger Industrial Co. Ltd in FY2022.

Please refer to AR2022 page 117, "On 28 March 2022, the Company disposed of 174,075,019 ordinary shares representing 100% equity interest in Ganzhou Kanger Industrial Co. Ltd. (“Ganzhou Kanger”) for a total consideration of RMB30,220,610 (equivalent to RM20,000,000)."

Correct, there was LOI in Sept 2021 stating selling price of these buildings at RM400 million. LOI, MOU, even contract can be terminated, you know I know, right?

What I am trying to tell is to accept the fact and realise what Kanger current has. Now Kanger's CGU are Sung Master & Genting condos. Both are not attractive at the moment.

Posted by Konnichiwa > 2023-07-20 16:13 | Report Abuse

@JJPTR, for clarification, the condos are not fully paid yet. We can anticipate future fund raising, can be RI, PP, bank borrowing. But raising fund via bank borrowing macam not Kanger's style.

Posted by JJPTR > 2023-07-20 16:22 | Report Abuse

folks, google "Asset Kayamas problem"

Posted by Konnichiwa > 2023-07-20 16:38 | Report Abuse

@JJPTR. Bro don't confuse others leh. The RI raised RM102 million only not RM142 million.

(https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3194981)
Total valid acceptances and excess applications = 1,700,011,579 @ RM0.06 = RM 102,000,694.
It was mentioned in AR2022 page 19 as well.

Don't simply say raise this much money already pay that. The condos are not fully paid yet!

Investor please read Annual Report carefully.

Posted by Konnichiwa > 2023-07-20 16:54 | Report Abuse

@JJPTR, please refer to AR2022 page 138, there is "CAPITAL COMMITMENTS" RM71,435,000 for Investment properties under construction. It refers to the Group are committed but haven't paid.

Then refer to latest QR CASH FLOWS FOR INVESTING ACTIVITIES, no significant amount paid for Purchase of property, plant and equipment and investment properties till Q3.

Therefore, belum fully paid.

Posted by Konnichiwa > 2023-07-20 16:56 | Report Abuse

Investors please read Annual Report, Circular carefully and make independent assessment.

Please understand the management, business model, future prospect and most importantly whether it fits your risk profile, then only you can know if the company can realise long-term shareholder value.

Unless you invest for goreng, then gonna take the risk lor.

Posted by Konnichiwa > 2023-07-20 17:05 | Report Abuse

@ JJPTR. And the daughter Chai does not sit on the board too. She had never been appointed to the board. She was a substantial shareholder after RI, then ceased to be a substantial shareholder.

Please don't spread wrong facts, it confuse others.


Investors please read Annual Report, Circular carefully and make independent assessment.

Please understand the management, business model, future prospect and most importantly whether it fits your risk profile, then only you can know if the company can realise long-term shareholder value.

Posted by Konnichiwa > 2023-07-21 07:50 | Report Abuse

@patience99 I would say lack of clarification and lack of update on the LOI.

Investors should attend AGM and raise question to BOD for clarification.

Posted by MZM2511 > 2023-07-21 09:51 | Report Abuse

What Is Capital Commitment?
A capital commitment is the projected capital expenditure a company commits to spending on long-term assets over a period of time.

It also refers to the securities inventory carried by a market maker. The capital commitment may also refer to investments in blind pool funds by venture capital investors, which they contribute overtime when requested by the fund manager.

1. Capital commitment refers to the projected capital expenditure a company will spend on long-term assets over a period of time.
2. Other areas that constitute capital commitments are the securities inventories of market makers and investments in blind pool funds by venture capitalists.
3. The most common areas of capital commitments include operating expenses, such as property-related costs, equipment, production materials, and future business ventures.
4. Risks associated with capital commitments include overextending an allocation of funds, with the possibility of a company not being able to meet other obligations.

Posted by BilisMasin > 2023-07-21 14:16 | Report Abuse

Dont wasting your time analyzing scrap company

Posted by BilisMasin > 2023-07-21 14:16 | Report Abuse

this kanger interscamnational value on 0.005

Posted by BILLC > 2023-07-21 14:22 | Report Abuse

Impossible 0.005 Sen,,,mzm2511 said NTA is still 57 sen,,,,,must have lots of valuable assets ,,,haha,,,