Tropicana is launching 199-acres developement beside the 'Kajang 2' by MKH.
http://www.tropicanaheights.com/site/home.html

This will only solidify the planned Kajang 2 project with estimated GDV 2.6 billion. Hurray!

If you like the story .. potentially Selangor MB from Kajang!

Everywhere you read in the circular .. the assets are operating at full or near full capacity. How nice a position to be in!

Is the market expecting final quarterly results?

But for now, at this level you pay only for property get free plantation. Or you may think that you pay only for plantation get free property assets. Happy Investing!

I would prefer the businesses under one roof. List .. privatise .. then relist are the games of the riches. There is a price to pay and normally the minority is a party that suffers.

Based on RM3.95 price-fixing date, ex-all will be RM2.88. This was disclosed in the announcement. 3 core businesses are expected to perform better in 2H. Very good quality of assets ...

Ex-all on Feb 12. Below RM3, will consider the opportunity to accumulate ..

nicky .. indeed it has been reflected in the warrants.

Price reaches record! Happy Investing!

I would not wish MKH buying its own shares .. they have been spreading the word - expansion. This may also reduce liquidity and participation by large funds.

..The management of QL Group is optimistic of the potential of the surimi-based products market in Indonesia given the improving standard of living of the country and the fact that these products are basic inexpensive food items ..qouted in the circular

Certain Funds have mandate to invest only in counter > than 1 bil. It is just begining for MKH.

MKH's market value now stands at slight over RM1 bil. That was the price IOI paid for the acquisition of Unico for the similar oil palm hectarage. Buying MKH now means paying only for plantation assets. You get FOC for other assets. Happy Investing!

Compared to previous year, we have few new instituitional investors onboard:-
Hwang Select Balance Fund
Pheim Sivac-Sif
Hwang Aiiman Growth Fund

Public Bank boosted its shareholding from 9.0% to 9.7%. Similarly EPF also increased its investment in MKH.

Do we enter when the property market is soft ..?
MKH offers long term profitability because of plantation and property investment portfolio.

MKH Bhd's affordable housing projects continues to gain traction among its buyers which are typically genuine homebuyers, said HwangDBS Vickers Research.

The research house said the group's RM890 million properties project, expected to be launched in the Financial Year 2014, was expected to further boost its record-high unbilled sales of RM503 million as at September 2013.

"Cost pressure should be mitigated by its established track record with internal project management expertise and building materials trading arm," HwangDBS said in a research note today.

Meanwhile, on plantation, the research house said MKH's plantation profits would grow at an astounding 69% of compounded annual growth rate over Financial Year 2013 to 2016.

"Nevertheless, MKH is still seeking more plantation land in Indonesia, potentially emulating the resounding success of it 14,400 fully-planted oil palm estates.

"The management is confident of its well-managed estates hitting 30 million tonne per hectares yields upon full maturity," said HwangDBS.

It said in the longer-term, MKH might float its plantation operation to unlock value for shareholders.

HwangDBS maintained a "buy" call on MKH with a target price of RM5.40. – Bernama, February 4, 2014.

Ten years ago in 2003, QL's net profit margin was 3% from revenue of RM700 mil. Ten years after, QL's net profit margin doubled to 6% on the back of 3-fold increase in revenue to RM2.1 bil. It only shows the business model of QL is feasible and sustainable.
Anyone wishes to predict the next 5 years?

Nestle has revenue over RM4 bil with net profit margin 8%. QL's results in 5 years time could be in between what it acheived now and what Nestle acheived today.

This makes sense ..

全利资源发附加股获支持

我们花一些篇幅来介绍一下全利资源近来的企业活动，将来有机会再分析其公司历来为股东制造了价值的威水史。

全利资源在1月24日的股东特大，刚获得股东祝福，进行红股和附加股的计划。

公司建议10送3红股，同时10配2附加股，一则奖励股东，一则做为未来拓充业务用途。

由于公司财务记录向来良好，因此获得股东一致支持。

其大股东谢氏控制公司约58%，以附加股建议价1.80令吉，需要掏出现金约1.73亿来认购，不是小数目。

这就带来另一个猜测。以大股东牢牢控制该公司，是没必要进行附加股，因为他自己必须掏出最大笔钱。

所以，全利资源上市之后从没进行过附加股，只是一直有派红股，壮大股本，巩固股权。

这一次大股东愿意拿出这一大笔钱来认购所属权利，同时对其他附加股不进行包销，为公司省下包销费用，用意十分明显，即其他股东不认购，他们也无所谓。

仅仅为减负债率？

能够让大股东乐意拿出这笔钱来投资，在通告上是说明用来减低负债。

我们不妨想想，全利资源董事是做生意的老手，对负债比率应该得心应手，为什么突然觉得要减低负债？建议背后不排除有更大的意义。

当债务降低之后，公司财务更健全，遇到收购的机会，将能更轻松的出手，把业务扩充。

与全利资源共处多年的小股东，一定可以看出端倪，不应放过一起茁壮成长的机会。

Ten year ago in 2003, QL's net profit margin was 3% from revenue of RM700 mil. Ten years after, QL's net profit margin double to 6% on the back of 3-fold increase in revenue to RM2.1 bil. It only shows the business model of QL is feasible and sustainable.
Anyone wishes to predict next 5 years?

QL now owns 41% Boilermech up from 38% ..
Soon QL will have another business in its segment reporting.

（吉隆坡24日讯）近期令吉汇率走软，带动全利资源（QL，7084，主板消费产品股）海产加工品出口，加上综合家畜业赚幅提高，相信下半年业绩更上一层楼。

该公司董事经理谢松坤表示，气候改善，作为饲料生产原料的谷物价格回软，改善综合家畜业赚幅。

他对全利资源下半年业绩乐观；尽管传统上，下半年表现通常较上半年差，但他预计今年情况将有所不同。

“过去，进入下半年美国气候干旱，国际谷物价格因歉收而高涨，加上同期家禽业市场供应过剩，进一步压缩公司综合家畜业赚幅。”

但他相信2014财年下半年时，干旱情况尚算良好，原料供应未受严重影响，使得公司赚幅增加。

棕油业务走强

他今年股东特别大会后指出，海产加工品则因季候风影响，产量略受影响。

列席者还包括全利资源集团会计兼投资者关系主管叶明渊。

他表示，海产与综合家禽业仍是集团的最大盈利来源，各占超过40%。

在询及棕油业务时，他说，本财年上半年表现欠佳，但最后两个季度的产量及原棕油价格走高，预期获利表现也将超越上半年。

全利资源财报文件显示，2013财年的海产业务税后净利占49.7%；综合家禽业占41.6%；棕油生产业务则为8.7%。

食品安全开启中国商机

中国黑心食品消息频传，谢松坤认为，这为我国食品业者开启另一商机。

由于中国消费者对于食品安全的重要性日趋重视，全利资源也计划透过中国的生产线，扩大在该国的鱼浆产品销售。

“相较以往，中国消费者更愿意、也更有能力购买高价的鱼浆产品，他们也更充实生产业者的品牌信誉。”

他说，公司也看好该国消费成长，借此生产及销售更多类型的高价食品，市场销售反应也令人鼓舞。

全利资源旗下QL Lian Hoe（新）有限公司，在今年3月份以1880万人民币（约940万令吉），收购中国广州的中山真味食品的全数股权，开启进入中国市场的大门。

他指出，公司的出口业务增长稳健，至今出口至约30个国家。

拟筹3亿减债及投资

全利资源计划发行附加股筹资3亿令吉，筹资所得的70%将用作削减贷款，此举料可将公司的负债比例由0.77倍，减至0.39倍。

发行附加股的建议，在今日的特大里获大部分股东批准。

谢松坤表示，公司计划发行1亿6640万3924股附加股，在最好的情况下，将可筹得2亿9952万7000令吉，最低水平也可筹获1亿7322万6000令吉。

建新饲料生产厂房

“若附加股获全数认购，筹资所得的2.2亿令吉将用作偿还债务；7000万令吉将用作扩充综合家禽业、饲料生产厂房，以及海产产品业务。”

其余款项则作为营运资本与附加股活动费用。

全利资源股东通知书资料显示，截至去年10月31日，该公司银行贷款达8亿4652万令吉，在削减贷款后，预计欠款可减至6亿7450万令吉或6亿2652万令吉。

他说，在7000万令吉中，其中50%将用作扩充大马、印尼及越南的综合家禽业产能，以及在兴建新的饲料生产厂房，这个厂房建筑成本约为5000万令吉，预计在2015年财年完工。

他指出，另外的50%，则将用作发展国内的养虾业务。

All three segments are expected to perform in 2H ... said the MD. Marine products will be boosted by high demand and stronger USD. Livestock benefits from lower feeds cost and higher FFB output and CPO price should see oil palm segment to perform better than 1H.

Sold by those not interested in taking up the right issues. They may re-enter after ex-price?
But this is not a wise move ..

After the rights issues .. will be a new chapter to QL.
Good to see directors undertake to pump in 172 mil cash.

http://myinvestingnotes.blogspot.com/2014/01/my-equity-bond-nestle.html
I do not own share in Nestle so I go for QL.
Has QL got what it takes to become a notable company in the consumer sector?
What is sure is it takes many years ..

How nice everywhere to read in the circular.. the businesses are operating at near to full or at full capacity. The rights proceeds will provide QL with a stronger footing for future expansion. And this expansion is likely to take place in a faster pace, generate greater synergies and higher profits.

... the Board says their businesses will continue to flourish and the Group will further benefit as and when its future plan are realised.

QL has 1,200 mature ha palm oil plantation in Sabah and 15,000 (20,000 ha 75%) ha in eastern Kalimantan. Mature 4,000 ha in FY2013 will increase to 6,000 ha in FY2014. Not very sure about this ..its website claims Kalimantan planted area of 9,500 ha.

Marine-products and Livestock farming are doing well. QL is replicating these businesses elsewhere. Barrier to entry is high.
QL has a new marine product - Shrimp farming. And the management believes it is a sustainable business venture. Phase 1 - 250 acres (100 ponds) to be completed by first quarter of 2015. Out of this, initial 50 acres (20 ponds) will commence operations in 2014.

Good buy the rights issues. 40% discount to the TEAP.

1Q FY2014:-
1. Good response to the Hillpark Shah Alam and MKH Boulevard projects.
2. Higher FFB and CPO price recovery.

MKH targets to launch GDV 800 mil properties in FY2014 compared to 580 mil in FY2013. So far good response to the launches .. Hill Park Shah Alam/ Pelangi Heights/MKH Avenue.

EPF has about 1.4 mil shares but could be higher now should it acquire more shares in the open market. I think this counter meets EPF's investment criteria.

There are no many institutional investors in this counter. Notable ones are Hong Leong Growth Fund and CBNY Dimensional Emerging Markets Value Fund. Hope that now with its market value exceeded 1bil, more fund managers will start looking at this counter.

Other than Chen, Public Bank's staff are the biggest beneficiary. Again having PBB on board that provides me lots of comfort.

Some fund managers have mandate only invest in counter with market value that exceeds 1 bil.

FY14-16F CPO ASP of RM2,366/ RM2,486/ RM2,609
HDBS uses the above assumption in arriving at the TP 5.40 .. simpan bullet for re-rating?

hi bsngpg .. just saw your 'gatekeeper' message. if you know mandarin ..
在股市, 先知先覺賺大錢, 後知後覺賺小錢, 不知不覺賺不到錢!

winwin, I am not from the management.

Rising CPO yield! with more trees approaching maturity and prime age.
Rising CPO price! price recovery
HDBS ... Y14-16F FFB production of 272k MT/ 341k MT/ 382k MT

With this age profile, the CPO yield of 3.5 mt/ha achieved in FY13 was amazing!

planting schedule
Year/ HA/ Age/ Status
2008/ 3,80/0 5/ mature
2009/ 5,200/ 4/ mature
2010/ 4,300/ 3/ mature
2011/ 1,100/ 2/ immature
Total 14,400 ha
Weighted average age : 3.81

hor say liao! lcng123

chinesetea..you ask a relevant question.
But you hardly get wrong with land. More so with MKH where this company has been profitable for the past 25 years.
My investments actually are skewed towards land based businesses.

10 Stocks to watch in 2014--The Star Biz
http://klse.i3investor.com/blogs/sharethenews/44333.jsp

Just to share ..
He is a brilliant investor. Has shares portfolio worth 30 mil and annual dividend income of 1 to 2 mil. In property you have RPGT but in stock market it is no tax.

创国内“裸捐”做慈善第一人
陈凯希也是海鸥集团董事经理，他昨晚出席雪州老友联谊会晚宴致词时宣布此事。
他今日受《南洋商报》询问时再补充，本身个人名义下拥有的股票目前价值超过3000万令吉，当他逝世后这些股票的价值是否会更高或较低，目前是未知数。此外，他的公积金数额也超过100万令吉。
他说，日后全数捐出的总额将有多少目前难以准确计算，只能够确定股票将是最大笔数目。
陈凯希说，在有生之年仍会如目前一样，每年把名下股票分红约100万至200万令吉全部捐献予需要的团体。
“我是从2010年开始这么做，把所得悉数捐献岀来，因为我觉得这是非常有意义的事。”
他周三晚在致词宣布此事时说，希望这项宣布将可起着抛砖引玉作用，鼓励更多人响应善举，让更多有需要帮助的机构和团体受惠。

And the land value will only rise and rise .. population growth, better infrastructure (road and MRT) and inflation factors.

Another perspective: Market value of the land (for property business ONLY) already exceeds 800 mil. This easily made up 80% of the maket value of MKH.

Project Location/Land acre/RMpsf/Market value RMm
Kajang 2 Kajang/ 220 FH/ 25/ 234.1
Hill Park Shah Alam Puncak Alam/ 558 LH/ 6.7/ 159.1
MKH Avenue I Kajang city/ 3 LH/ 120/ 15.3
MKH Avenue II Kajang city/ 15 LH/ 80/ 51.1
Pelangi Heights Pajam/ 45 FH/ 10/ 19.2
Hill Park Homes 3 Semenyih/ 28 FH/ 20/ 23.8
Kajang East Semenyih/ 138 FH/ 20/ 117.5
Hill Park Homes 4 Semenyih/ 75 FH/ 20/ 63.8
Saville@Kajang Kajang city/ 6 FH/ 60/ 15.3
MKH World Serdang/ 12 FH/ 150/ 76.6
MKH City Kajang city/ 6 LH/ 120/ 30.6

Pick up interest in the warrants .. good way to leverage the potential of MKH.

AK the 2.90 per share only for plantation assets. If the property business is included, TP 5.4 for MKH according to DBS.

DBS says plantation asset is worth 2.90 per share or 1 bil .. look at the share price now.

If this stands, MKH's property assets and others have no value.