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,,,

Posted by Konnichiwa > 2023-07-21 16:53 | Report Abuse

I miss the man rr1688.

Posted by OKU_2020 > 2023-07-21 17:34 | Report Abuse

2.5 sen comingg

Posted by Konnichiwa > 2023-07-21 17:36 | Report Abuse

Must first analyse before concluding whether this is a scrap ma.

I present the facts so other investors should be aware of also. Still I dont understand why there is people buying this stock. I dont see sign of U-turn yet.

Unless they know something that we dont know???

All I know are that businesses not attractive, share price drop more than 90% in 2 years, no turnaround plan yet, mention restructuring but diam diam, foresee further fundraising. Why still want to buy???

Posted by Konnichiwa > 2023-07-21 17:41 | 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 BilisMasin > 2023-07-22 12:09 | Report Abuse

Kanger not do business

1. Website not updated at all. What business are they doing ? No employee ?

2. They say in QR report they doing project management. However, they not registered with customs department under group g taxable service. They doing fraud ?

3. Every 4pm, one bl00dy f00l will buy up 1 lot just to keep the candle green. Kahkahkah

Posted by DickyMe > 2023-07-22 12:30 | Report Abuse

Website not updated? Kanger is not alone in this "crime"
99.9% of KLSE listed companies are guilty.
Worse is many do not have audited AR or QR.
Some reports are due by years or months.
Bursa is sleeping on the job, a bad ombudsman.

Posted by OKU_2020 > 2023-07-26 15:32 | Report Abuse

mzm2511....ok ?

Posted by MZM2511 > 2023-07-26 17:11 | Report Abuse

OK.... Masih belum muflis.

9/10 pemain tikam saham akan terkena tikaman....

Hanya satu orang yang cerdik (mungkin seperti OKU_2020) yang terlepas tikaman?????

Posted by OKU_2020 > 2023-07-26 21:15 | Report Abuse

hmmm.....very pity to our friend Mr MZM2511
formerly MR NEXGRAM.....but heard Nexgram " tricked " him liao
Be patient my fren
Still relevant the OLD MANTRA that 90 % stock traders got burned ?
Only 10 % considered lucky ?....$$$$$
Hmmm......BTW the most crucial part is MICRO ECONOMICS 101 >> Demand -Supply

Posted by OKU_2020 > 2023-07-26 22:06 | Report Abuse

hmmm..
O K U = Otai Kuat Umno = OKU since 2020

Posted by Konnichiwa > 2023-07-27 07:54 | Report Abuse

FBMKLCI is rebounding despite the upcoming election. Mzm2511, many opportunities out there bro. The business of investment properties and residential construction project management are not that attractive at the moment. Unless there are big changes in fundamental, this is going to be stagnant

Posted by MZM2511 > 2023-07-27 08:35 | Report Abuse

Thanks Konnichiwa...
---------------
Stock: [KANGER]: KANGER INTERNATIONAL BERHAD

4 weeks ago | 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.

Posted by Konnichiwa > 2023-07-27 08:54 | Report Abuse

Good luck bro

Posted by OKU_2020 > 2023-07-27 09:53 | Report Abuse

mzm 2511....
our fren - 8Dragon , bogus DR Warrant in Nexgram
8Dragon saved alot by cutting his Bird at 3 sen Nexgram

Posted by BilisMasin > 2023-07-28 15:57 | Report Abuse

Kanger InterScamnational

August 2023 price still 0.035

KAHKAHKAHKAH

As usual, waiting for rr1688 to buy 0.040 at 4pm to make candle close green

Posted by Konnichiwa > 2023-07-28 16:27 | Report Abuse

Bilis, i miss the man wehhh.

Posted by BilisMasin > 2023-07-28 18:20 | Report Abuse

see, at 4.00 pm, buy 1 lot 0.040

KAHKAHKAH

Posted by OKU_2020 > 2023-08-02 10:45 | Report Abuse

getting worst
TO Rest In Peace @ RIP 2 SEN

Posted by Citadel12 > 2023-08-02 10:48 | Report Abuse

okuuuu

Posted by Citadel12 > 2023-08-02 10:52 | Report Abuse

I remember many supporters last time , now where are they??? so cheap continue to buy keh

Posted by Konnichiwa > 2023-08-04 18:04 | Report Abuse

All tapao bungkus balik kampung already. Many potential counters out there.

Posted by OKU_2020 > 2023-08-04 19:57 | Report Abuse

2 sen coming

Posted by zenpaw04 > 2023-08-08 15:49 | Report Abuse

even operator also stop working here now

Posted by BilisMasin > 2023-08-14 16:44 | Report Abuse

Tak kaya2 lagi ke

Kanger InterScamNational

Posted by zenpaw04 > 2023-08-14 17:01 | Report Abuse

Hahaha all bungkus already lor

Posted by BilisMasin > 2023-08-15 16:34 | Report Abuse

Where is RR1688 ?

Now he never support closing price at 0.040 with 1 lot buy ?

KAHKAHKAHKAH

Posted by OKU_2020 > 2023-08-16 07:22 | Report Abuse

GLOOOMY outlook
be prepared 2 sen

Posted by BilisMasin > 2023-08-30 15:13 | Report Abuse

Dah kaya ke ?
Tanya je

Posted by whistlebower99 > 2023-09-01 09:52 | Report Abuse

Another losing quarter
https://www.klsescreener.com/v2/stocks/financial-report/0170/2023-06-30

Multi year losses

Posted by BilisMasin > 2023-09-01 21:17 | Report Abuse

KAHKAHKAHKAH

BISNES APA RUGI TIAP QUARTER ????

JUAL TISU TANDAS PUN UNTUNG MAAA

KANGER INTERSCAMNATIONAL

Posted by Konnichiwa > 2023-09-02 13:21 | Report Abuse

Nobody cares.. tutup kilang

Posted by Konnichiwa > 2023-09-05 15:09 | Report Abuse

???

Posted by fl888 > 2023-09-05 15:11 | Report Abuse

lai liao.....RR1688...

Posted by manbp2000 > 2023-09-05 15:17 | Report Abuse

One day show .....

Posted by eatsmall > 2023-09-05 15:36 | Report Abuse

wow

Posted by rainman777 > 2023-09-05 15:43 | Report Abuse

Hahahaha diam diam satu lori beli hahahaha ini kali kaya loh, Wakaka

Posted by curiousq > 2023-09-05 15:47 | Report Abuse

BOMB !!!
+ 37.5 %

Posted by rainman777 > 2023-09-05 15:57 | Report Abuse

Hahahaha laughing all the way to the bank, Wakaka

Posted by rainman777 > 2023-09-05 16:09 | Report Abuse

Hahahaha ketawa sahaja,lagi hari hari mari hantam kaw kaw hahahaha tiba satu hari kasi u wang wang u tak mau, Wakaka

Posted by BilisMasin > 2023-09-05 16:40 | Report Abuse

Sudah la kau, 2 tahun tak gerak, baru one day show dah mengelabah

KAHKAHKAHKAH

Posted by BilisMasin > 2023-09-05 16:41 | Report Abuse

Not even one day show, only one hour show

KAHKAHKAH

KANGER INTERSCAMNATIONAL

Posted by OKU_2020 > 2023-09-05 23:32 | Report Abuse

To be DEAD RAT again
many to be trapped liao & roasted to dead rat

Posted by rainman777 > 2023-09-06 12:33 | Report Abuse

Hahahaha cantiknya ada nice lunch kasi hahahaha relax koyang kaki, Wakaka

Posted by Konnichiwa > 2023-09-06 14:20 | Report Abuse

Change of name to Sung Master Consolidated tak jadi, how does it relates to increase of share price folks???

Mau tukar nama apa? Tolong brainstorm sini

Posted by MZM2511 > 2023-09-06 15:06 | Report Abuse

The Board of Directors of Kanger wishes to announce that the Company will continue with the proposed change of the Company's name with a new name. Such new proposed name is subject to the approval by the shareholders of the Company at the forthcoming 10th Annual General Meeting to be convened at a date to be announced later and the circular to shareholder with details of the new proposed change of name will be issue to the shareholders in due course.

Posted by rainman777 > 2023-09-06 15:18 | Report Abuse

Hahahaha betul betul boleh tahan,walao eh lagi ada afternoon England tea kasi, Wakaka

Posted by BilisMasin > 2023-09-06 15:25 | Report Abuse

Rr1688=rainman777

KAHKAHKAHKAH

Posted by Konnichiwa > 2023-09-06 15:39 | Report Abuse

Please brainstorm a new name for Kanger here.

Not same lah, rainman keep laughing, rr1688 keep repeating something that nobody understands

Posted by Konnichiwa > 2023-09-06 15:41 | Report Abuse

Will it be still Sung Master xx? Or collaborate with other?