Price Target Analysis: KUCHAI (2186)

Up up...
Up non stop!

2024-05-10 14:56

222 x SBagan

222 x RM5.70

2024-05-10 14:57

TRIPLE Jackpot for me! Great Eastern bought last yr Mar for S$17.52☝ Kuchai bought 64 lots since 2022 @ $1.78 avg incl margin interest✌ & SBagan bought 10 lots since 2015 @ $3.11 avg!💰💰💰

2024-05-10 15:08

Averaged UP @ 2.08 just now. As a point of interest, Kuchai's holdings in Great Eastern @ the takeover price alone is worth 2.13, not including the 66-68c in cash per shr once the latter's dividend is credited & disregarding all the other assets(Emerald Hill S'pore shophouse & 8 ha Semenyih land)

2024-05-10 15:59

anyone have the details for the following? kindly share.

from The Edge Malaysia Weekly : "Kuchai shareholders missed out on bonanza by a mere two days "

2024-05-11 08:10

I'm disappointed by the CAP AYAM standard of the Edge's articles(which is why I have refused to buy a single copy of their publications since 2016...crammed with dvmb ads!) The shareholders' approval was given 4 days ago BUT the deal needs to wait until 3Q '24 to be completed. There's still room for adjustments since the OCBC takeover could be completed b4 then so the 188 mil equities specified in the original deal could turn into 263.9 mil CASH which is a significant difference from the balance sheet position when the deal was entered into. Furthermore, many minority Great Eastern holders are dissatisfied that the deal is proposed @ 0.8 X the fair value of the biz, so the offer could potentially go UP ! OCBC failed to take it over in 2004 & 2006 so I doubt they won't raise the bid just to get it RIGHT this time...

2024-05-11 11:31

How will Kuchai shareholders benefit from this deal? Will they miss out completely after the recent EGM?

2024-05-13 17:13

Like I said, the transfers of ownership have presumably not yet been executed as the EGM approval has to precede it & that approval was only obtained 6 days ago. The latest dividend from 3.032 million GEastern shrs will be credited to Kuchai, NOT SBagan.

2024-05-13 17:17

star899

Whether the deal could go through would not matter much.
Through the various proposals from the holding and associated companies, we can visualize how valuable and precious the assets are owned by Kuchai !!!
In other words, the share price might not have reflected its intrinsic value which only the insiders can know before the revaluations.

2024-05-14 07:29

Thanks dompeilee and star899. Great insight. Much appreciated.

2024-05-14 07:46

dompeilee

Averaged UP @ 2.08 just now. As a point of interest, Kuchai's holdings in Great Eastern @ the takeover price alone is worth 2.13, not including the 66-68c in cash per shr once the latter's dividend is credited & disregarding all the other assets(Emerald Hill S'pore shophouse & 8 ha Semenyih land)
3 days ago

Took some contra profit on Kuchai @ 2.30-2.35

2024-05-14 09:27

# Dompeilee
Congrats!
You took profit at 230/235

Cooling period....

2024-05-18 21:29

What has KSeng got to do with this?

2024-05-20 11:44

Soliday

looking positive, monitor awhile

2024-05-20 17:50

Kuchai Development, will distribute the Sg Bagan shares to shareholders . It will distribute the shares on the basis of 222 Sg Bagan shares for every 1,000 Kuchai Development shares held.

2024-05-26 19:11

That's why the Edge is dvmb...cap ayam reporting...this deal is not a win-lose deal: it's win-win for both companies.If SBagan continues to rise, Kuchai shareholders will get MORE so the OCBC takeover benefits both enormously!

2024-05-27 06:56

I think coming from the angle that Kuchai could have gotten more. Is there any possibility of adjustment or go around certain conditions to what was agreed at the EGM so that Kuchai will get a fairer deal?

2024-05-27 08:30

Sg Bagan will take over all assets and liabilities of Kuchai. All benefits are going to Sg Bagan. Kuchai is just a shell company. Might as well buy Sg Bagan in the open market rather than wait for that 222 shares.

2024-05-27 10:53

90%+ supported the resolution during the EGM. There is no going back.

2024-05-27 10:55

zildjian

at the end kuchai become below RM0.800 ?

2024-05-27 14:55

Great Eastern closes UP 73c on the SGX on fairly high vol of 165,100 shrs, nearly 3% above OCBC's offer. This can only be good for both Kuchai & SBagan as they are unlikely to need to accept the bid & can keep the viable option to sell on the open market instead.

2024-05-27 17:08

Cut off date extended till 29 Oct 2024 is positive for Kuchai.

2024-06-27 14:36

Can Kuchai's shareholders still negotiate for a better deal from Sg Bagan after they have voted for the resolution?
Extending the date will not make any difference to the resolution. .

2024-06-28 15:51

Kuchai is still holding the GE shares

Can kuchai sell the GE shares to OCBC
Or must kuchai hand them to SBagan???

2024-06-29 15:07

Based on the approved resolution, Sg Bagan will definitely take over the assets and liabilities of Kuchai first before they will sell their GE shares to OCBC. I don't think Sg Bagan will allow Kuchai to sell direct to OCBC.

2024-06-30 00:28

July 12 th closing date!!!!

2024-06-30 17:48

Seen the latest announcement?

2024-07-12 23:13

GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months

2024-07-13 17:41

Ahthau

Any chance Kuchai receive Great Eastern dividend declare recently ?

2024-08-02 12:07

Sure. The GE shares are still residing in Kuchai.

2024-08-06 21:07

BE_GREEEEEDY

potential $$$$$😋

2024-08-10 10:35

Soliday

Result good, KUCHAI is back

2 months ago

High volume lately. Something interesting coming?

1 month ago

Wa
Why give 20 cents dividend?

1 month ago

After the swap with SBagan
Kuchai will be a cash rich shell company!

Will SBagan be privatise after the swap?????

1 month ago

Hope so. After the swap, Sg Bagan NTA should be around RM13, right???

1 month ago

Jumped into 25,000 Kuchai total @ $2.07 at the open.

4 weeks ago

Transfer of assets & SBagan shares finalized! Now just waiting for ex-date for 0.222 SBagan shares in exchange for each Kuchai share to be fixed...

4 weeks ago

@Dompeilee
Excellent!!!
Yes!
Now SBagan moving up up

Once kuchai is alloted SBagan shares...
Share price will move up again!
Kuchai price very dependent on SBagan shares price!

4 weeks ago

speakup

I like Kuchai. A lot of good food there but I find parking there is a problem

4 weeks ago

Yes
Later kuchai give you a basket of free gifts ... 🎁
Open the box!
U will find free "SBagan"😍

4 weeks ago

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description (I) DISPOSAL OF SUBSTANTIALLY ALL THE ASSETS AND LIABILITIES IN KUCHAI DEVELOPMENT BERHAD ("KDB") TO SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN SG BAGAN ("SG BAGAN SHARES") ("DISPOSAL"); AND

(II) DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A CAPITAL REDUCTION AND REPAYMENT AND DIVIDEND-IN-SPECIE ("DISTRIBUTION")

(COLLECTIVELY, "PROPOSALS")
We refer to the Company's announcements dated 29 December 2023, 28 February 2024, 18 March 2024, 7 May 2024, 26 June 2024, 3 July 2024, 12 July 2024, 30 July 2024, 23 September 2024, 3 October 2024 and 10 October 2024 as well as the Company's circular dated 15 April 2024 ("Circular") in relation to the Proposals. Unless otherwise stated, the definitions used herein shall have the same meaning as defined in the said announcements and Circular.

Reference is made to Section 4 of the Circular and the Company's announcement on 10 October 2024 in relation to the completion of the Disposal.

On behalf of the Board, RHB Investment Bank wishes to announce that, following the completion of the Disposal, an application was submitted to Bursa Securities on 11 October 2024 to seek the guidance of Bursa Securities on whether KDB is considered as a Cash Company under Paragraph 8.03 of the Listing Requirements.

The Company is currently pending a decision from Bursa Securities on the abovementioned matter.

This announcement is dated 11 October 2024

4 weeks ago

Considering both the 20c dividend AND the upcoming SBagan dividend in specie, the yield is an astounding 69.3% @ the current price of $2.16!

Lelong LELONG! By 11 Dec the price will almost surely be above $2.35!

3 weeks ago

What happen if the effective date for the take over of Kuchai assets and liabilities is before 11 Dec?

3 weeks ago

I'm neither a lawyer nor a corporate M&A expert but doesn't the latest announcement imply that SBagan already owns all of Kuchai's former assets except its cash pile & its Semenyih land while the latter already owns 26.7 mil of the former's shares?

3 weeks ago

Oh, the deal already done? I thought they going to fix a date for the actual transfer.

3 weeks ago