next theme play after gloves and pharma. need plenty of boxes to pack the gloves and vaccine, not to mention million of boxes needed for the boom in online business.

switch to competitor Boxpak. undervalue and near all time low. back in the black after years of investment in new location, plant and machinery.

looking at their financial results, their scale of business (turnover/revenue) is 3 times that of PPHB and Master and 2 times that of Orna.

when their return to profitability gathers steam, it's going to be exponential. by that time will be too expensive already.

only problem is not many sellers everyday due to small cap and most are losing money at current level after their rights issue of 1 for 1 at RM1.89 in Feb 2017.

IPO was in Dec 2013 via only distribution to IOI shareholders at RM1.76.

Thereafter there was a rights issue of 1 for 6 at RM1.90 in Jan 2015.

Again there was another rights issue of 1 for 4 at RM1.38 in Feb 2017.

Looks cheap now compared to the above and book value (NTA). but be prepared to hold and average down.

May be taken private again, aka ripping off minority shareholders at cheap price

great, the lower the better for serious, value and long term investors. screaming buy and god sent. where can you find a banking stock with these kind of fundamentals and ownership selling at this price?

how much is the contract worth? why a major announcement like this does not contain the most important info?

be careful of being caught for insider trading. don't buy too near to the material announcement. unless you have been buying for the past few months, you are safe. if you buy few days before, you are may be caught. Bursa and SC are watching.

problem is alot of investors are not aware Johortin has exactly the same business as Canone, although on a slightly scale. they should change their listed name to better reflect the contribution of their dairy milk business.

tin is only a small part of their revenue and profit. confusing for a name like Johortin to be listed under the consumer product sector.

in time, its price will rise to reflect its fundamentals. just like in Canone's case, not many realise their value for a long time. even uncle KYY sold off Canone much earlier.

Sheldon, like I said, maybe they are being pushed to a corner. Damn if you do, damn if you don't. Maybe age is catching up, too tired to fight anymore. But maybe not....

Smart market players like them must have a plan B. It's in their blood. One workaround is to buy into Canone since it is listed and if it's undervalued.

Too illiquid, tightly held and no scrip? Wait till they proposed a massive rights issue to pay off debts. Will be plenty of sellers then.

Canone cannot run away from a capital raising exercise because their capital base is too small to support their operations. After the KJoo takeover, they are now in the billion ringgit turnover category.

KJoo subsidiary Boxpak is next to be taken over since more than 90% of the shares are held by the top 30 shareholders and little or no trading everyday. Makes sense to delist since it's way below book value, consolidate the whole operations and move away from all the compliance issues.

Latest announcement from Canone says they already have more than 80% of KJoo. Now they can and will proceed for delisting, no need to reach 90%. Other dissenting shareholders on hearing this will most likely sell their shares to them because no use holding on to shares which are not listed. The 90% threshold if reached is to allow Canone to compulsory acquire all KJoo shares.

I am very surprised the See family and EPF were not able to stop this rip off exercise. Maybe they are caught between a rock and a hard place. If KJoo remain listed, it will just drift aimlessly as Canone being the people running the show will not declare dividends or report high profits to benefit the See family.

However, I suspect the See family has been buying into Canone so that they can indirectly own back KJoo. This is why the price of Canone has been surging recently. Like they say, if you cannot beat them, join them.

yes, not to worry. they will be glad to get as many shares as possible at the rip off price of RM3.10 in order to reach 90% stake when they will invoke the compulsory acquisition right.

the worrisome thing is if they get less than 75%, the See family is still a shareholder and they are not going to increase the offer price. then everything will come to standstill. KJ will remain listed and drift aimlessly, profit will continued to be artificially surpressed and little or no dividend will be declared as they don't want to benefit the See family.

unlikely Canone will increase the offer as it will be financially burdensome and also because they are hardball, stubborn and quarrelsome people.

most likely will say the usual: not fair but reasonable. what use is such advice to shareholders? for UOB, I guess it's just cari makan. after all, they are paid by Canone to help make it a success.

totally agree it's grossly undervalued. unlikely the See family and EPF will sell. wonder what will happen if they get more than 50% but less than 75% of the KJ shares? the listing will still continue?

yes, I will be very surprised if Canone shareholders approve it as it will blow up their borrowings. unless Canone has some hidden plans for it in the future and sees it as undervalued at RM3.10 as opposed to the RM3.30 that EPF tried to buy 5 years ago.

if approved, Canone will definitely have to undergo a rights issue to pare down borrowings. that will be bad considering how the market dislike rights issue at the moment. unless it comes with many sweeteners such as bonus, warrants and their coming quarterly results improved a lot.

as for KJoo, if the MGO is rejected, its share price will plunge.

not sure when the EGM but should be before Apr this year. my view is Canone shareholders are likely to reject it as there is no good reason for the MGO. it won't add to its earnings and Canone is already the tai kor in KJoo anyway, running the operations and the controlling shareholder.

therefore no question of it raising the offer price ala SPB. SPB is different because it is grossly undervalued and most assets are in Damansara Heights.

better buy Canone than this. same business but better earnings and fundamentals. and they are likely to abort the proposed KJoo MGO as their shareholders are not likely to approve it. already they are controlling shareholders and running the board/show in KJoo. why need the MGO?

pls be aware that this need Canone shareholders' approval at an EGM later. if they reject it, the whole MGO thing will be aborted and KJoo will go back to sleep at around RM2.00.

actually it was 5 years ago that EPF tried to buy KJ at RM3.30 and people were screaming it undervalued the company.

there is merit to this deal even at RM3.10 but the way Canone went about it is in bad taste. they tried to hide it and not make a MGO but somebody whistleblow to SC and they got fined and forced to do the MGO.

they did not want to do it because they already have controlling interest and running the show in KJ. why spend so much money?

I have a feeling if this deal is not aborted or failed, the acceptance will not be high as the See family and EPF will not accept it.

the major positive to this deal is not the earnings of KJ but their large portfolio of undervalued properties and another listed company Boxpak.

same business like CANONE but making losses while CANONE making lots of profits? mismanagement and poor corporate governance.

KYY, buy back your CANONE lor. what's not to like abt CANONE? price now is lower than what you sold previously, grossly undervalued with increasing quarterly pft, low p/e and high NTA, owns 2 other listed company (kian Joo and Boxpak) with controlling interest and bought cheaply and now effectively a f & b company in the category of Nestle and Dutch Lady with much lower p/e. their turnover and profits are now driven more by their f&b division, no more the can business.

what's not to like abt CANONE? price now is lower than what you sold previously, grossly undervalued with increasing quarterly pft, owns 2 other listed company (kian Joo and Boxpak) with controlling interest and bought cheaply and now effectively a f and b company in the category of Nestle and Dutch Lady