KUCHAI DEVELOPMENT BHD
KLSE (MYR): KUCHAI (2186)
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Last Price
1.77
Today's Change
+0.03 (1.72%)
Day's Change
1.72 - 1.77
Trading Volume
6,100
Market Buzz
2024-04-15
Discussions
4 people like this. Showing 50 of 960 comments
@Albukhary, yes, you are correct to say that. SBagan is undervalued (and so are most other counters). Kuchai is presently fully valued based on SBagan's current market price.
2024-01-07 19:14
Contra players who chased the news mostly FLUSHed out!😊 I increased my stake by 180% in the meantime, which will entitle me to a few lots of SBagan in the next 2 months or longer. I predict it will go back to above $1.70 at the very least in the meantime.
2024-01-08 10:08
If SBagan goes to RM4.50, Kuchai's fair value will be RM1.60 ....... if SBagan goes to RM5, Kuchai's fair value will be RM1.70 ....... if SBagan goes to RM10 ....... aah, can or not?
2024-01-08 14:31
If SBagan drops to RM3.50, Kuchai's fair value will be RM1.40 ....... pray SBagan doesn't drop.
2024-01-08 15:07
Even after 41% ⏫ in shares issued, fair value JUST BASED on the Top 2 MOST LIQUID assets of CASH + Great Eastern shares is between $3.66 -$4.50, not even counting:
1. The 2 adjoining ultra-luxurious, ultra-sprawling Victorian-era Mayfair flats valued at over $70 mil{£10,000 rental income per month}
2. The Kelantan freehold plantation lands valued @ $105 mil
3. The freehold S'pore conservation shophouse valued @ $50 mil {S$16,000 rental income per month}
4. The Kajang freehold land valued @ $8 mil.
And this also disregards the S'pore bonds, gold bars & hedge fund stake which I assume to be not too liquid.
2024-01-08 17:21
81 mil net cash is only 65c per shr. I'd rather get the sister co's shrs which has significant upside potential with its juicy inflation-resistant properties.
2024-01-08 17:55
From the beginning people here say SBagan better than Kuchai, means sell Kuchai to buy SBagan.
2024-01-11 21:01
I'm certainly not of the those 'sifu' ! Have been buying it for 3 days straight since Jan 3rd because it's good!
To me, buying either is not wrong...Kuchai is just an indirect way to get exposure to SBagan, especially attractive when the former is at a stark discount to the latter. Its Great Eastern holdings (assuming a S$18 valuation) is already almost equal to its current mkt cap, with prospects for a sharp increase since the insurer's implied value is over $30, having gone as high as $32 in early '18, especially with OCBC buying another chunk @ $17 last year to bring its holdings to 89%, a whisker from the takeover threshold.
Ergo, buyers are getting its 81 mil net cash(constantly increasing by about $4 mil a year), valuable S'pore freehold detached shophouse, Semenyih land & assorted bonds & S$ investments almost for free.
2024-01-12 08:40
Even retxrds also know it's a good deal for SBagan n a bad deal for Kuchai.
SBagan bought asssets of Kuchai by issuing shares at high premium (Basing on NTA RM10), more than 50% than their current share prices.
2024-01-12 09:23
Go buy SBagan directly io Kuchai to get the 0.22 SBagan (valued at NTA RM10).
Now I know why there are so many poor retaxds in Bursa...
2024-01-12 09:26
Posted by speakup > 1 hour ago | Report Abuse
all the sifu sifu say Kuchai no good, speakup no buy then it up up up 😥
I m not sure u pretended to be stupxd or U are just plain stupxd, despite staying in I3 n stock mkt for years
2024-01-12 09:28
Anyway both are illiquid Co controlled by kiamsiap Boss paying peanut div...
Can see their good assets cannot eat while Boss happily earning their director fees every year
If want can buy few lots or few K shares like somebody n keep for 5 years or 10 years...once they goreng up can come to I3 to shout n show off u make few hundreds or few thousands very panlai very smart.....lol
2024-01-12 09:42
BEAUTIFUL week-end for both Kuchai & SBagan, close to week highs !!! Next week 95% probability of breaching $1.60 & $4.60 respectively!!!🤗😘🤗
2024-01-12 17:18
@speakup, don't ever stop speaking up. Next week we go cheer, cheer Insas.
2024-01-13 10:17
dompeilee
BEAUTIFUL week-end for both Kuchai & SBagan, close to week highs !!! Next week 95% probability of breaching $1.60 & $4.60 respectively!!!🤗😘🤗
2 days ago
Both predictions SPOT-ON! 👍 ***Self-congratulatory dance***🕺
2024-01-15 10:03
Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!🤗😘🤗 Poor CharlesT, who looks down on other's thousands of profits & calls ppl stupi d when he's the stupi d one & for whom chicken rice is the HEIGHT of luxury....who missed the moolah boat! 🤣🤣🤣
2024-01-16 09:36
Noteworthy that despite SG Index tumbling -1.4% today, Great Eastern shares continue their steady upward rise from $17.60 in late '23 to $18.34 now. Disregarding the proposal which is still months away from being approved, Kuchai's holdings in Great Eastern are worth $1.52 / shr so buyers only pay 20c for their Semenyih land, 65c of cash & their Emerald Hill freehold shophouse in S'pore collectively worth 47c /shr & doesn't even factor in their holdings in the S$ bonds & other fund investments. PLUS 4c per shr of Great Eastern's customary May dividend if the proposal drags beyond 1Q '24. A full blown takeover, like was attempted in 2006 by 88.4% owner OCBC by the end of the yr cannot be ruled out!
2 months ago
Kuchai 1.73
If 1.66 can supported in 2-3 days period,then maybe something on in kuchai.
22/1/24 1.35pm
2 months ago
Posted by dompeilee > 1 week ago | Report Abuse
Already HIGHER than my HIGHEST averaging down purchase on 3rd Jan!!!🤗😘🤗 Poor CharlesT, who looks down on other's thousands of profits & calls ppl stupi d when he's the stupi d one & for whom chicken rice is the HEIGHT of luxury....who missed the moolah boat! 🤣🤣🤣
Stupxd old lao cha bo remisier.....always show of her few hundred RM profit by buying few lots.....lol
My chicken rice money is much much more than your monthly or even yearly profit....lol
2 months ago
dompeilee
My Sungei Bagan realized earnings cross the $5k mark reaching $5,671.82 since '13 after earning ZERO last year when it was comatose ALL YEAR LONG & margin interest piled up on a small stake re-purchased too high in Oct '21!
2 weeks ago
Rm5,671.82 since 2013?????? So much ah so panlai ah??????? lol
2 months ago
🐓'Chicken' rice....🐔 the double entendre says it all! 🤣🤣🤣 SBagan price has been comatose for most of the period 2012-2023, spurting only briefly in '13, '18 & '21. Better than you, earned ZERO & better than the quick & the dead impatient gamblers( of which club you're also a member)😂
2 months ago
Buying few lots making few hundreds can be very happy also to old lady...
I m very envy of u...happiness is very simple
2 months ago
Some funds positioning to force owners to sweeten the offer. Now it's 1000 get 222 Sg bagan, maybe force to 1000 get 400
2 months ago
@speakup, yes, proposals can be revised. That would definitely be better for Kuchai minorities.
2 months ago
On the first trading day of this year I completely exited from Kuchai at 1.62, now Kuchai is at 1.60.
1 month ago
TheContrarian
On the first trading day of this year I completely exited from Kuchai at 1.62, now Kuchai is at 1.60.
5 days ago
IRONIC how less than a week after your boast, Kuchai rises smartly to exceed your EXIT by 7c per share!
1 month ago
This article first appeared in The Edge Malaysia Weekly on January 8, 2024 - January 14, 2024
ROUGHLY 15 months after Kuchai Development Bhd (KDB) completed distributing its 26.51% stake in Sungei Bagan Rubber Company (M) Bhd (Sg Bagan) to shareholders, the company ended the year with an announcement of a bigger deal.
This time around, KDB is selling its assets and liabilities valued at RM275.47 million to its sister company Sg Bagan in return for shares. Again, KDB will distribute Sg Bagan shares to its shareholders. For every 1,000 KDB shares, shareholders will be entitled to 222 Sg Bagan shares under the proposal.
The controlling shareholder Kluang Rubber Company (M) Bhd will get the lion’s share of the block of Sg Bagan shares being distributed.
Kluang Rubber holds a 42.21% stake in KDB and a 43.5% stake in Sg Bagan. It is, in turn, controlled by low-profile Singaporean businessman Lee Thor Seng and his sons — Justin Lee Chung-Shih and Colin Lee Yung-Shih — via their family vehicle The Nyalas Rubber Estates Ltd. Justin is the executive deputy chairman of KDB and Sg Bagan.
It is worth noting that the divestment consideration of RM275.47 million was RM120 million more than its market cap of RM154.68 million prior to the announcement.
The divestment, which unlocks the asset value of KDB, gave a strong boost to the share prices of the three companies, lifiting them to all-time peaks on the first trading day of 2024.
The move is seen by market observers as the nonagenarian Thor Seng’s attempts to further streamline his interest in the Bursa Malaysia-listed companies, apart from unlocking asset values. This has left many wondering about his next move with KDB, which will soon be a cash-rich listed shell company.
“Would he privatise Sg Bagan since most of the assets will be parked there?” muses a market observer.
2 weeks ago
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I) PROPOSED ACQUISITION OF SUBSTANTIALLY ALL OF THE ASSETS AND LIABILITIES OF KUCHAI DEVELOPMENT BERHAD ("KDB") FOR A TOTAL CONSIDERATION OF UP TO RM275.47 MILLION, WHICH WILL BE SATISFIED THROUGH THE ALLOTMENT AND ISSUANCE OF UP TO 27,519,500 NEW ORDINARY SHARES IN SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") ("SHARES") ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM10.01 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION"); (II) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES ON TAKE-OVERS, MERGERS AND COMPULSORY ACQUISITIONS ("RULES") TO KDB AND PERSONS ACTING IN CONCERT ("PACs") WITH IT FROM THE OBLIGATION TO UNDERTAKE A MANDATORY OFFER ("MO") FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED KDB EXEMPTION"); AND (III) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES TO KLUANG RUBBER COMPANY (MALAYA) BERHAD ("KRCB") AND PACs WITH IT FROM THE OBLIGATION TO UNDERTAKE A MO FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED DISTRIBUTION BY KDB OF ALL OF THE CONSIDERATION SHARES TO THE ENTITLED SHAREHOLDERS OF KDB WHOSE NAMES APPEAR IN THE RECORD OF DEPOSITORS OF KDB ON A DATE TO BE DETERMINED LATER BY WAY OF DIVIDEND-IN-SPECIE AND CAPITAL REDUCTION AND REPAYMENT ("PROPOSED KRCB EXEMPTION")
22 hours ago
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING: (I) PROPOSED 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") ("PROPOSED DISPOSAL"); AND (II) PROPOSED DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE PROPOSED DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A PROPOSED CAPITAL REDUCTION AND REPAYMENT AND PROPOSED DIVIDEND-IN-SPECIE
19 hours ago
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Albukhary
So conclusion, SG Bagan better or Kuchai better?
Personally I feel Sg Bagan is more worth to buy, please correct me if my understanding is wrong.
2024-01-07 15:52