KUCHAI DEVELOPMENT BHD

KLSE (MYR): KUCHAI (2186)

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Last Price

2.20

Today's Change

0.00 (0.00%)

Day's Change

2.20 - 2.20

Trading Volume

9,000

Overview

Market Cap

272 Million

NOSH

124 Million

Avg Volume (4 weeks)

356,988

4 Weeks Range

1.81 - 2.35

4 Weeks Price Volatility (%)

72.22%

52 Weeks Range

1.21 - 2.35

52 Weeks Price Volatility (%)

86.84%

Previous Close

2.20

Open

2.20

Bid

2.19 x 21,000

Ask

2.20 x 2,400

Day's Range

2.20 - 2.20

Trading Volume

9,000

Financial Highlight

Latest Quarter | Ann. Date

31-Dec-2023 [#2] | 28-Feb-2024

Next QR | Est. Ann. Date

31-Mar-2024 | 30-May-2024

T4Q P/E | EY

8.35 | 11.97%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

2.86 | 0.77

T4Q NP Margin | ROE

249.76% | 9.21%

Market Buzz
Company Profile

Sector: FINANCIAL SERVICES

Sector: FINANCIAL SERVICES

Subsector: OTHER FINANCIALS

Subsector: OTHER FINANCIALS

Description:

Kuchai Development Bhd is a Malaysia based company which is principally engaged in investment holdings and rental of property. The business operates in various segments that include Investment segment; which invest in long-term securities, Interest Income segment; which does the placement of excess fund in fixed and short-term deposits, and Rental Income segment, which does leasing of properties. The Investment segment generates maximum revenue for the company. Its services are exported to Singapore, Mauritius and Australian region. The Singapore region generates maximum income for the company.

Discussions
4 people like this. Showing 50 of 985 comments

dompeilee

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!

2024-01-17 18:43

Michael Kwok

Kuchai 1.73
If 1.66 can supported in 2-3 days period,then maybe something on in kuchai.
22/1/24 1.35pm

2024-01-22 13:35

TheContrarian

Something on in Kuchai already long known. Michael Kwok, you very slow.

2024-01-24 22:35

CharlesT

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

2024-01-25 06:46

CharlesT

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

2024-01-25 06:50

dompeilee

🐓'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)😂

2024-01-25 08:41

CharlesT

Lol...as long as u r happy....

2024-01-25 10:51

CharlesT

Buying few lots making few hundreds can be very happy also to old lady...

I m very envy of u...happiness is very simple

2024-01-25 10:58

speakup

Some funds positioning to force owners to sweeten the offer. Now it's 1000 get 222 Sg bagan, maybe force to 1000 get 400

2024-01-27 20:47

TheContrarian

@speakup, yes, proposals can be revised. That would definitely be better for Kuchai minorities.

2024-01-28 21:34

TheContrarian

The forum here gone dead for over a month?

2 months ago

TheContrarian

On the first trading day of this year I completely exited from Kuchai at 1.62, now Kuchai is at 1.60.

2 months ago

dompeilee

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!

2 months ago

speakup

He issued Buy Call

2 months ago

dompeilee

Now 1.71, UP TEN ticks!!! 🙆🍻📈

2 months ago

Diamond7

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.

1 month ago

Diamond7

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")

1 month ago

Diamond7

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

1 month ago

AhPek

Is this a good deal for KDB's shareholders?

1 month ago

KarmaPrince

Just look at the price chart of these companies for the last 20 years then you decide whether these companies fit your investment criteria.

1 month ago

dompeilee

Soon...$1.80, then $1.90...tgt is $2 at least, at which point, the return on capital is still 53%, far higher than the 29% just before the ex-date of the previous SBagan shr distribution!

1 month ago

dompeilee

Prediction fulfilled!!! Another bullseye!!!🎯🎯🎯 I can now terminate another $8,595.68 of margin loans on Kuchai if I so choose!🙆✌🍾 POOR CharlesT can go fly LOSERS' kite...🎃

1 month ago

dompeilee

YIPPeeeeeEEEEEE!!! Equal 2024 high( & 8 year high to boot!)!!! $2.00 by 8th May!!! Another bonus is that it looks like nobody else is here...the less participants( ie speculators), the higher it can rise!🤗

4 weeks ago

hhhiii123

Just buy then fly lol?, seem like only sky is the limit

4 weeks ago

AhPek

How's the outcome of the EGM?

2 weeks ago

dompeilee

Approved by 92.72% in favour margin.

2 weeks ago

speakup

besok Limit Up?

2 weeks ago

hhhiii123

hope so, almost no momentum lol

2 weeks ago

jusztpu2ra

whats the TP?

2 weeks ago

Diamond7

Up up...
Up non stop!

2 weeks ago

Diamond7

222 x SBagan

222 x RM5.70

2 weeks ago

dompeilee

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!💰💰💰

2 weeks ago

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)

2 weeks ago

GS

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 "

2 weeks ago

dompeilee

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...

2 weeks ago

lionel messi

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

2 weeks ago

dompeilee

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.

2 weeks ago

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.

2 weeks ago

lionel messi

Thanks dompeilee and star899. Great insight. Much appreciated.

2 weeks ago

dompeilee

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

2 weeks ago

Diamond7

# Dompeilee
Congrats!
You took profit at 230/235

Cooling period....

1 week ago

lionel messi

What has KSeng got to do with this?

1 week ago

Soliday

looking positive, monitor awhile

1 week ago

Diamond7

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.

1 day ago

dompeilee

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!

1 day ago

lionel messi

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?

1 day ago

AhPek

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.

1 day ago

AhPek

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

1 day ago

zildjian

at the end kuchai become below RM0.800 ?

1 day ago

dompeilee

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.

21 hours ago

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