EMP STORY
Whether it’s the energy of an open dining experience or the decadence of a private room, EMP KL offers you both! All set within an opulent and regal interior.

Be immersed in the colors, scents, and tastes of the absolute best in Chinese cuisine.

https://empkl.com/

https://www.instagram.com/overseaseafood/?igsh=aTkyMnJlazdmNDht

Oversea Seafood
Seafood Restaurant
Dive into fresh seafood delights, exploring flavours with advance technology 🌊
-𝐏𝐨𝐫𝐤 𝐅𝐫𝐞𝐞-
⬇️ 𝐌𝐞𝐧𝐮 & 𝐑𝐞𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬 ⬇️

makin menarik, pork free tak bererti b@bi percuma ya hahaha

The Oversea brand is also renowned for its range of mooncakes
“The first steps have already been taken with the opening of EMP KL, our first pork-free offering based in the Westin Kuala Lumpur which provides a fine dining experience with Chinese food that all races and cultures can enjoy,” commented the group’s executive director Benson Tay.

usah selewengkan duit pemegang syer minoriti... nanti tuhan mengambil nyawamu macam eddie hehe

OVERSEA ENTERPRISE BERHAD

Date of change 22 Mar 2024
Name TAN SRI DATO’ SERI TAN KING TAI @ TAN KHOON HAI
Age 68

parah lagi

@LadyRepins

Q31MAr2024
Rev 138,650 | Loss 33,160
Looks like still sinking, even lower rev than prev qtr.

4 hours ago

Need to ask them about this during the AGM@May 30.

KUALA LUMPUR (May 17): Ho Hup Construction Company Bhd (KL:HOHUP) said its 52%-owned unit Golden Wave Sdn Bhd (GWSB) has applied with the High Court to be placed under judicial management.

Judicial management is a corporate rescue mechanism where companies seek the appointment of a judicial manager when they are unable to pay their debts, creditors or directors.

In a filing with Bursa Malaysia on Friday, Ho Hup said GWSB’s judicial management application is part of GWSB’s efforts to rehabilitate the company in a bid to regularise its financial condition and maximise returns to creditors as opposed to being wound up.

The application is also to provide GWSB the opportunity to complete its projects.

It will also seek the involvement of an independent professional to facilitate restructuring of GWSB with the assistance of its management.

“There has been a series of events that has affected the cash flow of GWSB due to the Covid-19 pandemic environment, which has significantly slowed down the timing of payments by customers as well as the progress of the projects undertaken by GWSB,” Ho Hup said.

GWSB is 70%-owned by Ho Hup’s property development division Ho Hup Ventures (KK) Sdn Bhd, which is in turn 75%-owned by Ho Hup.

As at end-2023, Ho Hup Ventures’ total liabilities of RM447.49 million exceeded its total assets of RM449.54 million.

The unit contributed close to 40% of Ho Hup’s revenue for the financial year ended Dec 31, 2023 (FY2023).

Ho Hup stated that the application is not expected to have a significant financial or operational impact on the group, and will provide further updates if there is any material development on the matter.

Last week, Ho Hup announced that its RM1 billion mixed development project in Bukit Jalil will be suspended as it plans to sell the 3.09-acre land the project is sited on for RM110 million, cash, to Exsim Group as it seeks to improve its financial position.

Ho Hup have incurred losses for the last three consecutive years. For the financial year ended Dec 31, 2023 (FY2023), the company’s net loss widened to RM75.07 million from RM32.13 million a year earlier, due to impairments of long-standing receivables totalling RM14.7 million, as well as ascertained liquidated damages expenses of RM15.9 million.

The group also experienced lower contribution recognition for projects such as Laman Iskandaria, Kulai, and The Crown, Kota Kinabalu.

Shares of Ho Hup closed unchanged at 14 sen on Friday, giving it a market capitalisation of RM75.15 million. Year to date, the counter has dropped more than 40%.

Founder masih keep 2.5%++ stake pulak :)

. Yu Soo Chye @ Yee Soo Chye 29,101,800 2.56

Top 30 dah 90%++ shareholdings, so laku ka? Hehe

LIST OF 30 LARGEST SECURITIES ACCOUNT HOLDERS (BASED ON THE RECORD OF DEPOSITORS) (WITHOUT AGGREGATING SECURITIES FROM DIFFERENT SECURITIES ACCOUNT BELONGING TO THE SAME PERSON) Name of Shareholders No. of Shares Held Percentage (%) 1. Affin Hwang Nominees (Tempatan) Sdn. Bhd.- Exempt An for Lazarus Securities PTY LTD 363,459,176 32.02 2. Lim Kon Lian 261,916,000 23.08 3. M & A Nominee (Tempatan) Sdn. Bhd.- Exempt An For Sanston Financial Group Limited (Account Client) 94,721,600 8.35 4. Perusahaan Saudees Sdn. Bhd. 55,000,000 4.85 5. Cartaban Nominees (Asing) Sdn. Bhd.- Exempt An For Standard Chartered Bank Singapore (EFGBHK-Asing) 46,196,700 4.07 6. Affin Hwang Nominees (Asing) Sdn. Bhd.- Exempt An For Sanston Financial Group Limited (Account Client) 45,000,000 3.96 7. HSBC Nominees (Asing) Sdn. Bhd.- Exempt An For Morgan Stanley & Co. International PLC (IPB Client Acct) 32,790,000 2.89 8. Yu Soo Chye @ Yee Soo Chye 29,101,800 2.56 9. HSBC Nominees (Asing) Sdn. Bhd.- Exempt An For BNP Paribas (LONPBCLR-3PTY) 15,744,700 1.39 10. Kenanga Nominees (Tempatan) Sdn. Bhd.- Pleged Securities Account For Wang Tsun Siang 10,500,000 0.93 11. Kwan Sia Hock 10,046,979 0.89 12. Ace Edible Oil Industries Sdn. Bhd. 9,039,800 0.80 13. Affin Hwang Nominees (Tempatan) Sdn. Bhd.- Pleged Securities Account For Cheng Mun Leong (CHE0525C) 9,000,000 0.79 14. Lee Seng Fan 8,178,488 0.72
15. Kong Kok Keong 7,344,700 0.65 16. Cartaban Nominees (Asing) Sdn. Bhd. 6,998,500 0.62 17. CGS-CIMB Nominees (Tempatan) Sdn. Bhd.- Pledged Securities Account For Lim Kay Keong (MY4113) 6,853,600 0.60 18. HSBC Nominees (Asing) Sdn. Bhd.- Exempt An For The HongKong And ShangHai Banking Corporation Limited (GCHK-Lazarus) 6,500,000 0.57 19. Mercsec Nominees (Asing) Sdn. Bhd.- General Reserve Of Digital Assets Limited 6,100,000 0.54 20. Public Nominees (Tempatan) Sdn. Bhd.- Pledged Securities Account For Tan Kong Han 5,000,000 0.44 21. Tan Seng Chee 5,000,000 0.44 22. Lai Yee Ling 4,294,100 0.38 23. Lai Tze Jin 4,200,000 0.37 24. Lai Yee Voon 2,900,000 0.26 25. Maybank Securities Nominees (Tempatan) Sdn. Bhd.- Pledged Securities Account for Lau Joo Pern 2,900,000 0.26 26. Chia Teck Beng 2,714,800 0.24 27. Ng Wooi Ying 2,600,000 0.23 28. Dato’ Ng Aik Kee 2,500,000 0.22 29. Teo Chin Wei 2,175,000 0.19 30. Chan Choon Moi 2,000,000 0.18 TOTAL 1,060,775,943 93.46

Dah tak aktif kini


KUALA LUMPUR (March 22): Oversea Enterprise Bhd announced that Tan Sri Tan King Tai @ Tan Khoon Hai, executive chairman of Muar Ban Lee Group Bhd, has been appointed its independent and non-executive chairman, effective Friday.

Tan is also currently non-executive chairman of Symphony Life Bhd and SWS Capital Bhd, and independent, non-executive chairman of Focus Dynamics Group Bhd.

"Tan also sits on the board of several other private limited companies," Oversea said in a bourse filing.

He was previously non-executive chairman of Eka Noodles Bhd, executive director of Pensonic Holdings Bhd, and independent non-executive director of Denko Industrial Corp Bhd.

Listed on the ACE Market of Bursa Securities since April 2010, Oversea, which operates the Restoran Oversea chain of Chinese restaurants, has largely been in the red. As of its financial year ended March 31, 2023, the group marked its sixth consecutive year of losses.

In its latest quarterly report, the group reported a net profit of RM3.26 million for the first nine months of FY2024, up from RM26,000 in the corresponding period in FY2023, as revenue grew to RM51.22 million from RM40.15 million.

Oversea's share price closed unchanged at 5.5 sen on Friday, giving the group a market capitalisation of RM125 million.

TAN SRI DATO’ SERI TAN KING TAI @ TAN KHOON HAI graduated from Bolton University in Business Management majoring in Accounting. He further obtained his Honorary Doctorate in Industry from Public University from University Sains Malaysia. He is a member of the Institute of Certified Public Accountants, Ireland, and a fellow member of the Malaysian Association of Company Secretaries.

Tan Sri Tan has over 40 years of working experience in the fields of auditing, accounting, and corporate finance. He joined SWS Capital Berhad as an Executive Director on 30 November 2003 and resigned on 26 October 2010. He was subsequently appointed as the Deputy Executive Chairman on 23 December 2015 and re-designated as Executive Chairman on 16 November 2016. On 2 February 2021, he was re-designated as Non-Executive Chairman of SWS Capital Berhad.


$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Change in Boardroom
OVERSEA ENTERPRISE BERHAD

Date of change 22 Mar 2024
Name TAN SRI DATO’ SERI TAN KING TAI @ TAN KHOON HAI
Age 68
Gender Male
Nationality Malaysia
Designation Non Executive Chairman
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
No
Qualifications
Major/Field of Study
Institute/University
Additional Information
1
Professional Qualification
Malaysian Association of Company
Secretaries
Malaysian Association of Company
Secretaries
Fellow Member
2
Professional Qualification
Institute of Certified Public Accountants, Ireland
Institute of Certified Public Accountants, Ireland
Member
3
Doctorate
Industry by Public University
University Sains Malaysia
4
Degree
Business Management majoring in Accounting
Bolton University

Working experience and occupation Tan Sri Dato' Seri Tan King Tai @ Tan Khoon Hai (Tan Sri Tan) has over 42 years of working experience in the fields of auditing, accounting and corporate finance. Tan Sri Tan experience and contribution in other public listed company directorship are as follows:

- Executive Chairman of Muar Ban Lee Group Berhad (appointed as the Executive Director of Muar Ban Lee Group Berhad on 30 June 2009. He was redesignated as Executive Chairman on 5 October 2023);
- Non-Executive Chairman of Symphony Life Berhad (appointed as the Non-Executive Director of Symphony Life Berhad on 2 September 2021. He was redesignated as Executive Chairman on 15 November 2021 and subsequently redesignated as Non-Executive Chairman on 1 October 2023);
- Independent Non-Executive Chairman of Focus Dynamics Group Berhad on 1 March 2024;
- Non-Executive Chairman of SWS Capital Berhad (appointed as the Executive Director of SWS Capital Berhad on 30 November 2003 and resigned on 26 October 2010. He was subsequently appointed as the Deputy Executive Chairman on 23 December 2015 and redesignated as Executive Chairman on 16 November 2016 and redesignated as Non-Executive Chairman on 2 February 2021);
- Non-Executive Chairman of Eka Noodles Berhad (appointed on 8 May 2017 and retired on 21 August 2020);
- Executive Director of Pensonic Holdings Berhad (appointed on 13 September 1995 and resigned on 1 October 2017);
- Senior Independent Non-Executive Director of Unimech Group Berhad (appointed on 6 March 2000 and resigned on 5 July 2016); and
- Independent Non-Executive Director of Denko Industrial Corporation Berhad (appointed on 27 December 2010 and resigned on 21 March 2017).

All the above companies are listed in Main Market of Bursa Malaysia Securities Berhad. Tan Sri Tan also sits on the board of several other private limited companies.
Directorships in public companies and listed issuers (if any) 1. Muar Ban Lee Group Berhad
2. SWS Capital Berhad
3. Symphony Life Berhad
4. Focus Dynamics Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer NIL
Any conflict of interests that he/she has with the listed issuer NIL
Details of any interest in the securities of the listed issuer or its subsidiaries NIL



Announcement Info
Company Name OVERSEA ENTERPRISE BERHAD
Stock Name OVERSEA
Date Announced 22 Mar 2024
Category Change in Boardroom
Reference Number C03-22032024-00003

BOARD OF DIRECTORS
X Datuk Chai Woon Chet X dah mati, KINI -----> TAN SRI DATO’ SERI TAN KING TAI @ TAN KHOON HAI
Executive Director
Hoong Yik Miin
Independent Non-Executive Director
Tay Ben Seng, Benson
Executive Director
Tang Yee Ling
Independent Non-Executive Director
Andy Liew Hock Sim
Independent Non-Executive Director
Dato’ Ku Chin Wah
Independent Non-Executive Direct

selepas kematian eddie, puak ni sanggup bertaubat ka? hehe

Prospects
The Group remain focused in upgrading its restaurant facilities as well as new expansions of outlets
by incorporating technological advancements to improve the Group’s competitiveness as well as to
meet different needs of the customers.
The Group remains committed to focus on the business growth and bearing any unforeseen
circumstances, we are cautiously optimistic to deliver positive earnings in the future. The Group will
continue manage the cost during its expansionary exercise.

nampaknya, invested in a profitable co pulak.

March 28, 2024 at 10:20 am EDT
Share
Luk Hing Entertainment Group Holdings Limited reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was HKD 95.75 million compared to HKD 58.59 million a year ago. Net income was HKD 14.9 million compared to net loss of HKD 32.09 million a year ago.

Basic earnings per share from continuing operations was HKD 0.0406 compared to basic loss per share from continuing operations of HKD 0.1401 a year ago. Diluted earnings per share from continuing operations was HKD 0.0404 compared to diluted loss per share from continuing operations of HKD 0.1401 a year ago.

Acquired listed company punya share kat hongkong pulak...

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS OVERSEA ENTERPRISE BERHAD (OEB OR THE COMPANY) - SUBSCRIPTION OF NEW SHARES IN LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED
OVERSEA ENTERPRISE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
OVERSEA ENTERPRISE BERHAD (OEB OR THE COMPANY) - SUBSCRIPTION OF NEW SHARES IN LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED
Reference is made to the Company’s announcements dated 30 August 2023 and 4 September 2023 (which reply to the queries from Bursa Malaysia Securities Berhad dated 1 September 2023) pertaining to the Proposed Placement.
The Board wishes to announce the following additional information:
1. The Proposed Placement was completed on 30 August 2023.
2. There are no liabilities, including contingent liabilities and guarantees to be assumed by ROCST from the Proposed Placement.

This announcement is dated 6 September 2023.

sunyi selepas kematian eddie
Monday, 18 Dec 2023
5:41PM
OVERSEA Demised of CHAI WOON CHET As Director

Wow, apa dah berlaku? haha

Wednesday, 28 Feb 2024
6:38PM
OVERSEA Nine-month net profit 3.260 million (increased 12438.46%)


Thursday, 30 Nov 2023
6:42PM
OVERSEA 1H net profit 4.982 million (increased 100.56%)

Ganti si mati Eddie

Change in Boardroom
OVERSEA ENTERPRISE BERHAD

Date of change 22 Mar 2024
Name TAN SRI DATO’ SERI TAN KING TAI @ TAN KHOON HAI
Age 68
Gender Male
Nationality Malaysia
Designation Non Executive Chairman
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
No
Qualifications
Major/Field of Study
Institute/University
Additional Information
1
Professional Qualification
Malaysian Association of Company
Secretaries
Malaysian Association of Company
Secretaries
Fellow Member
2
Professional Qualification
Institute of Certified Public Accountants, Ireland
Institute of Certified Public Accountants, Ireland
Member
3
Doctorate
Industry by Public University
University Sains Malaysia
4
Degree
Business Management majoring in Accounting
Bolton University

Working experience and occupation Tan Sri Dato' Seri Tan King Tai @ Tan Khoon Hai (Tan Sri Tan) has over 42 years of working experience in the fields of auditing, accounting and corporate finance. Tan Sri Tan experience and contribution in other public listed company directorship are as follows:

- Executive Chairman of Muar Ban Lee Group Berhad (appointed as the Executive Director of Muar Ban Lee Group Berhad on 30 June 2009. He was redesignated as Executive Chairman on 5 October 2023);
- Non-Executive Chairman of Symphony Life Berhad (appointed as the Non-Executive Director of Symphony Life Berhad on 2 September 2021. He was redesignated as Executive Chairman on 15 November 2021 and subsequently redesignated as Non-Executive Chairman on 1 October 2023);
- Independent Non-Executive Chairman of Focus Dynamics Group Berhad on 1 March 2024;
- Non-Executive Chairman of SWS Capital Berhad (appointed as the Executive Director of SWS Capital Berhad on 30 November 2003 and resigned on 26 October 2010. He was subsequently appointed as the Deputy Executive Chairman on 23 December 2015 and redesignated as Executive Chairman on 16 November 2016 and redesignated as Non-Executive Chairman on 2 February 2021);
- Non-Executive Chairman of Eka Noodles Berhad (appointed on 8 May 2017 and retired on 21 August 2020);
- Executive Director of Pensonic Holdings Berhad (appointed on 13 September 1995 and resigned on 1 October 2017);
- Senior Independent Non-Executive Director of Unimech Group Berhad (appointed on 6 March 2000 and resigned on 5 July 2016); and
- Independent Non-Executive Director of Denko Industrial Corporation Berhad (appointed on 27 December 2010 and resigned on 21 March 2017).

All the above companies are listed in Main Market of Bursa Malaysia Securities Berhad. Tan Sri Tan also sits on the board of several other private limited companies.
Directorships in public companies and listed issuers (if any) 1. Muar Ban Lee Group Berhad
2. SWS Capital Berhad
3. Symphony Life Berhad
4. Focus Dynamics Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer NIL
Any conflict of interests that he/she has with the listed issuer NIL
Details of any interest in the securities of the listed issuer or its subsidiaries NIL



Announcement Info
Company Name OVERSEA ENTERPRISE BERHAD
Stock Name OVERSEA
Date Announced 22 Mar 2024
Category Change in Boardroom
Reference Number C03-22032024-00003

Segala soalan Akan dijawab kat agm

@thundery

if you understand whats going on lately happened on this company, you can decide hold or buy more or sell out. Understand the stock you going to trade is the most important

29 minutes ago

Syer Kawan untukmu??? Jualan& untung UP... Semoga Lebih kaya ya

Harga syer Akan memecut ka? Soalan bernilai rm1 juta kidding

C u at bukit jalil golf club , agm@30 may :)

Open at 15sen... Total shares are getting lesser for sale . Lima baris pertama 15, 15.5, dll :)

greed can make anyone broke. Avoid being greedy

@JJPTR

Avoid recently 30:1 type of counters. It is PUMP TO DUMP by downsizing the NOSH. Once you are traped, new 1 billion toilet papers will be issued via PP/RI/ESOS. And the share price will drop from 20c to 1c AGAIN after 1 yr. The bad kokperate habits of printing toilet papers is still rampant. Vsolar is propsing to print another 336m of toilet papers again

2 weeks ago

I think israel is going to win. no wars no boycott soon hehe https://www.msn.com/en-us/news/world/israeli-forces-raid-hamas-tunnel-in-rafah-seize-weapons-cache/vi-BB1mNnUw?ocid=msedgntp&cvid=c38469fedef44aab977cc9ffebe68d51&ei=60#details

Agm at Bukit Jalil Golf and Country Resort, good news coming. Otherwise, agm via zoom meeting, elak shareholders physically hehehe

Market Cap RM77.739m at 15sen... jika exsim offers 30 per syer, close deal kot? ~RM155mil je

tak payah leceh sangat, jualkan semua bukan hanya 1 keping tanah je haha

mgo beli balik semua syer lepas tu jualkan semua syer kpd exsim bijak jugak kan? kidding je

ada sesiapa mau attend ya... hehe
Description: HO HUP CONSTRUCTION COMPANY BERHAD- FIFTIETH ANNUAL GENERAL MEETING
Date of Meeting: 30/05/2024
Time of Meeting: 10:30 AM
Venue: Bukit Jalil Golf and Country Resort,1st Floor, Perdana 1 & 2 Room,Jalan
Jalil Perkasa 3, Bukit Jalil,57000 Kuala LumpurMalaysia

probably something big is going to happen b4 May 30 its AGM or on AGM day... interesting... must be good news coming.... looking at the shares were sapu recently even today as well

Ada geng eyeing the stok. So early 2m shares grabbed :)

B4 10am, dah 2m syer ++traded something is boiling wait n see

Agm is approaching..bereskan semua, no need egm haha may 30

5169 HOHUP HO HUP CONSTRUCTION COMPANY
General Meetings: Notice of Meeting
52049
Indication: Notice of Meeting
Description: HO HUP CONSTRUCTION COMPANY BERHAD- FIFTIETH ANNUAL GENERAL MEETING
Date of Meeting: 30/05/2024
Time of Meeting: 10:30 AM
Venue: Bukit Jalil Golf and Country Resort,1st Floor, Perdana 1 & 2 Room,Jalan
Jalil Perkasa 3, Bukit Jalil,57000 Kuala LumpurMalaysia
Date of General Meeting Record of Depositors: 23/05/2024
Outcome of Meeting:

You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

29/04/2024 07:00 AM

Agm 30 may 2024... Big big news kot

Awal lagi, ~2mil shares traded... Hot stok

Surging nampaknya

Not many shares in the open market

15sen, mgo, takeover, privatisation, etc. See yah

Ho Hup Construction Company Berhad, also known as HOHUP (5169), is a well-known construction company in Malaysia¹². It has been involved in numerous national projects, including:

- **Petronas Twin Towers**: Ho Hup was involved in the construction of the iconic Petronas Twin Towers, a symbol of Kuala Lumpur’s skyline¹².
- **National Sports Complex**: The company contributed to the development of sports facilities in Malaysia¹².
- **Kuala Lumpur International Airport (KLIA)**².
- **Light Rail Transit System (LRT)**².
- **Malaysia –Singapore second crossing**².

In addition to these major projects, Ho Hup Construction Company Berhad has completed numerous projects from both the private and government sectors for high-rise intelligent buildings, stadiums, airports, highway & bridges, railways & light rapid transit, off shore marine works, oil & gas works, commercial building development, deep foundation works and many more².

The company also owns a quarry business in Taboh Naning, Alor Gajah, Melaka, which caters to the demand for quarry products from the infrastructure development and construction activities in Melaka, southern Negeri Sembilan, and northern Johor⁴.

On 25th February 1991, Ho Hup Construction Company Berhad gained access to the main board of Bursa Malaysia through an Initial Public Offering (IPO)². This significant step has led to greater access to market share and the birth of the name of Ho Hup Construction Company Berhad².

hohup has many assets particularly in Bukit Jalil KL yg belum dinilai semula ya.

NTA 66sen, Current price14sen, Market Cap ... Offer price to take hohup private, say, 28sen, hanya ~RM150mil haha wait n see... better to take it private.... restructure quietly, relist at a much higher value later.

75 Million

NOSH

518 Million

Exsim purchased a piece of land at RM100mil++

Tukar taktik, biarjatuhbalik 40-50sen, take privatepunmurah

@
BuildBackBossku

weird, it is still dropping despite BJ buys back the shares ...

3 days ago

Mau jual, dah, tinggal yg mau beli .. 14sen dah clear... 14.5sen & ke atas, tengok clear tak

2 mil shares ++ disapu... Hehe

$$$$$

Brokers are positively biased on the stock with one Buy and two Holds. The mean target price is MYR2.04. At current price, the stock is trading at 17.1x FY24E consensus EPS of 10.5sen, which is lower than its 3-year historical average PER of 20.8x. The group has a healthy balance sheet. Its net cash stood at MYR111.1m at end-Mar 2024, approximately 17.8% its market capitalisation.

Rm2+++ maybank inv


KAWAN FOOD BHD: (KFB MK, CP: MYR1.79, Not Rated) Off to a good start in FY24
Maybank IBG Retail Research

Kawan Food’s 1Q24 PAT grew 17% YoY to MYR9.2m. Excluding net exceptional loss of MYR2.4m, its 1Q24 core PAT grew 45% YoY to MYR11.6m. Recall that the group also booked in net exceptional loss (mainly provision of slow moving inventories) of MYR0.1m a year ago. This met 32% of consensus earnings estimate. No dividend was declared for the quarter.

In 1Q24, revenue grew 9% YoY thanks to rising demand from North America (+22.5% YoY) and Malaysia (+15.6% YoY), which accounted for 25% and 50% of 1Q24 revenue respectively. Meanwhile, GP margin expanded by 2.7ppts to 28.7% (1Q23: 26%) due to lower operating costs.

The strong 1Q24 results will help to justify the street’s expectation of a 19.3% 3-year EPS CAGR for FY20-23. Outlook wise, although inflationary pressure on production cost remains a concern, our analyst expects the added disposable income from financial support measures (eg. EPF account 3 withdrawals and the salary increase for civil service) should help buffer the negative impact.

Brokers are positively biased on the stock with one Buy and two Holds. The mean target price is MYR2.04. At current price, the stock is trading at 17.1x FY24E consensus EPS of 10.5sen, which is lower than its 3-year historical average PER of 20.8x. The group has a healthy balance sheet. Its net cash stood at MYR111.1m at end-Mar 2024, approximately 17.8% its market capitalisation.

Net assets per share 66sen. Now 14sen, just invite the cash rich friends to inject n relist after privatisation... Easier for financial engineering etc

Just take it private, restructure, etc relist elsewhere pun ok

*Market Update - Retail (200524)*
From Jack Goh, UOBKH

- *Malaysian equity market sustaining its bull run 🐂last week,* in tandem with solid performance from global indexes. To note, *Hang Seng Index* is approaching the 20k mark after rebounding >25% from its 15 years-low of 15k in early Jan. Meanwhile, *Dow Jones Index* achieved record high 40k mark last Thursday.

- *Another indicator that market sentiment and interest have been improving📈,* is that average daily value *(ADV) exceeding RM4b for 3 days last week (Wed-Friday).* To note, Bursa’s average ADV was only RM2.1b in 2023, RM2.9b in 1Q24, RM3.4b in May. *We’ve upgraded Bursa MK target price to RM8.76 last week