Cannot repeat previous eps in this Q. Will have a good show tomorrow.

My most successful investment this year, 60% return so far :)

Dlady reported a huge increase in eps due to low material cost!

5 should be a reasonable target

breaking 4!

Target price RM 5/=.

Low milk price and weak ringgit will benefit Canone. Expect good q3 results! Is there any news on Kianjoo disposal?

Log increases 13%, ffb increases by 25% qoq. Expect eps ~11 cent.

F&N dairies registered huge improvement in pat due to low milk base commodity cost. Expect similar results from Canone.

Hopefully the last court case involving KianJoo will be settled tomorrow. Once it is done, be ready to attend EGM to decide disposal of KJ to EPF.

There are several catalysts coming.
1. Complete disposal of KJ to EPF for RM3.3/= per share, and very likely the offer price would be revised upward to ~RM3.8/=. Potential special dividend for canone shareholders.
2. Improve quarterly results due to (a) weakening of ringgit against USD (b) low input material cost (c) additional capacity in place.
Share price should achieve at least RM3.6/= considering the potentially higher offer for KJ and its own improved business in F&B over the last 2 years.

EPS will be high in Q3 due to low input material cost (Milk and to some extend sugar)

An old report in "Star" which made a lot of sense.

Will buyout offer for Kian Joo be reviewed?
http://www.thestar.com.my/Business/Business-News/2015/06/06/Will-buyout-offer-for-Kian-Joo-be-reviewed/?style=biz

As the offer was made ~2 years ago, KianJoo earned an additional 40-50 cents since then. I would expect the offer price for KianJoo to be revised up by the corresponding amount on top of the original offer price of RM3.3/=. If we assume the final offer price is RM3.80/=, Canone will receive ~ 550 M, or RM2.88/= per share.

Huge increase in timber/FFB in April and May compared to Q1 (Jan to March). Q2 results should be better.

http://www.themalaymailonline.com/money/article/malaysia-building-plans-stricter-loan-coverage-standards-before-transition

What will happen to BIMB-WA if there is a M&A btw BIMB and MBSB?

Looks like good Q4 results coming

Q4 result long overdue.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1895393

EPF has been disposing BIMB to meet 10% threshold. Once it is holding 10% or below, merger new should be announced soon if there is any.

Down another rm1/= tomorrow

Below expectation

looks like it is moving up. Is there anything going on?

BNM gives green light to dispose MPIB!

should move up next week!

http://klse.i3investor.com/blogs/amresearch/62104.jsp

Good responses on Rimbayu project.

Seek did not disclose all information to CCS

No plan to develop land in Shah Alam at the moment. See below.
http://www.orientaldaily.com.my/index.php?option=com_k2&view=item&id=139744:&Itemid=198

Up 20 cent tomorrow

Merge with rhbcap

if you go to iproperty and search for leisure farm, there are a lot of sellers offering the land at ~ RM100/= psf.

I don't too worry about it as 60M is insignificant compared to the safety margin of this company offered. My brother is living in Kota Kemuning (one developed by Paramount). According to him, currently a 2D linked house (Land area of 20x70, gated) is asking for not less than RM600k. If you look around, how much does a link house by IJM land cost (Rimbayu)? It is above 800k! I cannot afford to buy a house in that area, at least not now. However, with SAB, I am able to invest in the freehold land in that area with a much cheaper price tag of RM28/= psf if we ignore everything else in the company. RM28/= psf is still cheaper than what Eco-world is paying for. It is perfectly ok with me if the company wants to plant palm oil in there for the next 10 years as the price of land can only go up with time. By the time IJM Land, Eco-world, Tropicana exhaust all their land, how much will they be willing to pay for the land by SAB?

I started buying into this when it was less than 3, and I am still accumulating. My target price is 10 if not less.

Thanks

A news appears on paper this morning.

http://www.nanyang.com/node/630985?tid=643

Key point: The proposed 3rd link will most likely land at Pengarang.

1 becomes 3!

The price has gone up quite a bit since I talked about this a few months back. Right now many would wonder if it is getting too pricey now?

Let us do a rough breakdown of the company.

(1) The company has net cash of 90 M (cash of 156M - total liability of 66 M). It is RM 0.65/= per share.
(2) 10800 acre of land planted with palm oil in Indonesia. Let us conservatively assume RM10k per acre. It is worth 108 M, or RM0.78/= per share.
(3) Olechemical industry: It is making 23M PBT in 2013. Assume Tax of 25%, PE = 5.0. It is worth 23 x 0.75 x 5 = 86 M, or RM 0.63/= per share.
(4) Health Care, 3.8M PBT in 2013. Again, Tax of 25%, but PE should be higher at 10. It is worth 3.8 x 0.75 x 10 = 28.5M, or RM 0.20/= per share.
(5) About 5% of Paramount.

If we sum up item 1 to 4 (ignore #5, which is rather small), it works out to be ~RM2.2

With the current share price at RM5.5/=, one is actually paying RM3.3/= for the land in Kota Kemuning. One lot of SAB owns ~200 sf. Based on current price, it works out to be RM 17/= psf. Eco World paid RM35/= psf for a piece of leasehold land next to it. Compare these numbers and judge for yourself. Another key point to keep in mind: SAB's land is freehold.

I visited the 644 acre site recently. Part of the land has been replanted with palm oil (my estimate is not more than 1 year). However, on March 25, the company injected ~137M into a subsidiary called Pembinaan Gejati Sdn Bhd. Later I found out that Pembinaan Gejati is actually the registered land owner. I still have trouble to figure out why the company injected so much money into the subsidiary. To fully plant a 644 acre land with plam oil only needs about 10% of 137M. A more logical guess is the company going to develop the land by itself.

Must be google direct translation :)

sleeping counter suddenly wakes up

Does anyone know what is Pembinaan Gejati Sdn Bhd doing? SAB injected close to 137M into this subsidiary without stating the reason.

Latest news on MPIB.

http://www.thestar.com.my/Business/Business-News/2014/05/16/No-objections-to-MultiPurpose-Insurans-divestment/

POSH secured a contract for its accommodation vessel for USD 80M per year.

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast3Months&F=UYMXDBILGOA53JNG&fileId=MEDIA%20RELEASE_Contract_with_Petrobras.pdf

Another reference for MPHBCap landbank in Kuala Lumpur Bukit Bintang area.

http://www.theedgemalaysia.com/business-news/288672-update-tropicana-sells-kl-prime-land-for-rm448m-to-net-gain-of-rm145m.html

The transaction price is RM3280 psf. 4.2 acres of land owned by MPHBCap is about 600M, or RM0.8 per share.

100% agree with you! Once they get addicted, they forget how to socialize, interact with human being.

I quitted teaching about 10 years ago (Engineering lecturer, MMU, 2001-2003, assistant professor, UTAH, 2004-2005) for more or less the same reasons. For those who are not in this line may not understand the reason why our colleges, universities are producing sub-par standard students. One of the key reasons is the commercialization of education. There is an unwritten rule that in every class, there should not be more than 5% of students scored a "F". On top, mean score must be in between 60-70 marks. The lecturer/teacher has to explain to the dean by a written report if there is any non-compliance. As such, the score was highly manipulated, certainly not representative of the understanding of a particular student on the subject.
Low compensation
When I was an assistant professor in UTAH back in 2004, I couldn't make enough to support my family. Consequently, my wife needed to take up a part time job, my mother-in-law helped to take care of my daughter FOC. Until now, I have a deep respect for those who are in teaching line as they are the one who scarifies financially for the sake of our future generation. Teachers are human being, they too need to eat, live, plan for their next generation. Even till today, I still think that teachers are paid miserably poor compared to other job.

Eps is 0.16 for 2013, but current share price is only 0.14. Anyone dare to buy?

You need a strong heart to invest in china based company. I was burned one time, will never invest in this type of rubbish company anymore.

Cheer up! Look at this from the bright side. You have produced so many A students for our society!

I have been keeping them for the past two years. Will continue to do so. Cheer!

I bought two lots, one more than Joel :)

I have been keeping this counter for over 2 yrs+. As I do not have the financial strength to buy a piece of land in Kuala Lumpur region, buying into SAB is another way to participate the upside of land appreciation in KL region. With the current price of RM5.5/=, it works out to be about RM27/= psf of land in Kota Kemuning if we ignore everything else. Do you expect Rimbayu housing project price to go higher or lower in the near or far future?

Buy more this monday!