undeniable ksl do very well in property recently, but it was due to catalyst by iskandar issue. one day when this issue subside, the performance won't be so excellent. mkh's still has a lot of cheap land bank in kajang and semunyih and future 2 mrt station will be there too. mkh's property is not in kajang only, they has expanded to shah alam. the hillpark shah alam (550 acres) just launched and phase 1 (pines) was fully sold. they are open booking for phase 2 (cheery) and 3 (olive) now.

for me, both of ksl and mkh are worth to invest for long term, especially mkh. ksl has 2 source income, property development and property investment (hotel & shopping mall) and mkh has 3 source income, property development, plantation and property investment. both companies have do very well in property development last year and so for this year. this year is visit malaysia year and this will benefit ksl's hotel and shopping mall business. for mkh, it's plantation will contribute profit since last year and expected more income will be generated years coming especially when cpo price getting higher and ffb production increase. if talking about long term investment, i personally prefer mkh, because compare to ksl, mkh's management is more taking care of minority shareholders. mkh pay dividend every year and since 2011, mkh has bonus issue (1:10) 3 times. and most important, mkh management never think about to privatise the company but ksl, chance to privatise the company is high.

nicky, you are wrong. nobody knows whether mkh will drop below rm3.00 or not, if so then chance for you to accumulate it. it doesn't mean you sell mkh at current price and waiting for it to drop to lower price and buy back.

in fact, when people buy in warrant, people buy for future. before you buy warrant, you have to consider mother current price, mother estimate future price, the conversion price, warrant current price and when the warrant going to be expired. people buy warrant because warrant's price is low than mother and definitely margin % will be higher. give you an example : if you think the mother price will hit rm4.00 in the future. as you mother at price rm2.44, the margin is (4.00 - 2.44)/2.44 = 64%. if you buy warrant at rm1.35, when mother price is rm4.00, the warrant AT LEAST rm2.40 (4.00 - 1.60) and warrant's margin will be (2.40 - 1.35)/1.35 = 78%. this calculation is base on warrant price AT LEAST rm2.40. it could be more up to rm2.80, 2.90 or 3.00 especially when the warrant expire date still long way to go. ksl never declare dividend and this will enhance the advantage of buy in warrant.

nicky, if you are not confident with mkh, you better clear out the mkh. if you confident with it, when the share price drop, it's present an opportunity for you to accumulate at lower price and waiting for the rebound. i am waiting for mkh to drop further below rm3.00 as i still need to accumulate this counter for future.

hopefully. there must be a good news to attract buy interest on fajar. today volume traded at 2.6mil share, buying rate 76%.

suddenly fajar volume and price up so much.

novice8, by looking the figures posted in ksl's financial result, my point of view, it is still worth to invest in ksl at rm2.37, but you have to study the figures yourself to strengthen your confident to ksl. no one can help you to make the buy decision.

ksl got rm113mil cash. if they declare 10sen dividend, total payout is rm39mil only. 113mil - 39mil, they still got cash rm74mil. they are capable to declare dividend at this moment.

mkh won't receive uma because it's share price is not sharp or sudden up. it was up gradually day by day from 2.62->2.69->2.83->2.95->3.24->3.18. from 2.62 to 3.24 only up 23%.

joel, don't ask this funny question to people. study and decide yourself whether worth it to buy or not. if you think worth it, then go in otherwise look for other counter. there got so many good counter out there like ksl, plenitude, matrix and etc.

i was thinking that may be ksl management will do some actions this year. probably resume dividend declare or bonus issue.

yes. david, that's why i kept plenitude for couple of years and never sell any single share. just wanna see how they are going to utilised this huge cash fund (rm1.46/share).

shl was based in bandar sg. long. my friend who stayed in bandar sg. long more than 10 years told me that shl is not aggressive in housing development. there was not much housing project launch by shl recently. anybody here can make a comment regarding this.

plenitude is moving forward to 52weeks high. good signal.

逍遥子, if you refer to bursa malaysia info, there got 3 times bonus issue in 2011 and 2012. the 1st was on feb 2011 (1:10, increase share from 240mil to 264mil). the 2nd was on apr 2012 (1:10, increase share from 264mil to 291mil) and 3rd was on oct 2012 (1:10 together with right issue at rm1.80 and free warrant issue, increase share from 291mil to 349mil).

ptaras so quiet recently. share price stuck at between 2.86 and 2.88. last week, ptaras withdraw rm10mil from securities. so their cash has increase rm10mil (6sen/share).

nanyang saing pau business weekly has reported mkh today. the busy weekly(资汇） also reported ksl in vol. 257(1.6.2014-12.1.2014). these 2 weekly magazine have boost up mkh and ksl share price today.

逍遥子, my cbip still very far to go. my average price at rm2.02. i am lucky to grab cbip at rm1.93 on 21/06/2013 last year when a sudden drop for a few counters on that day.

pintaras was my first counter double my investment. pie was 2nd, hope mkh will be the 3rd, cbip the 4th and ksl the 5th.

very soon i will double my investment in mkh (average price at rm1.69)

sjsoon, you are right. finally our investment got some return.

thanks bsngpg, same to you.

先知先覺沒胆只能賺到小錢,後知後覺沒胆賺不到錢，不知不覺大胆钱賺不到不打紧，却亏了大钱！

the rally just began.

no dividend declare is not a big problem. may be they need fund to expand their business or to reduce their debt. do you notice that their debt keep decreasing every year. ksl's distributable retained earnings already stood above rm1bil with nta increase to rm3.34. who knows one day, ksl would like to distribute the earnings to shareholders by declare bonus issue.

you are right bsngpg. i am not worry about the government policy against property sector, but more worry about the rupiah get depreciating recently will affect the profit in mkh's plantation sector.

you are right, benjamin. hong leong investment bank never do research properly.
below is the report posted by hong leong investment bank on 28 Nov 2013 :

KSL Holdings (HOLD)
Strong results from progress billings

1. 3Q13 core PAT rose 61.4% yoy to RM68.4m, with YTD net profit of RM182.9m making up 104% and 117% of HLIB and consensus estimates respectively.

2. Deviation was due to lack of management guidance for the strong takeup in KSL City and Bandar Bestari @ Klang and stronger than expected performance of the mall and hotel segments.

3. FY13-15E forecast raised by 45-48% to factor in: (1) Stronger earnings flow through from KSL City and Bandar Bestari; (2) Stronger recurring income from mall and hotel operations.

4. Given the prevailing macro and sector headwinds, we maintain discount to RNAV at 40% and keep our TP at RM2.04. HOLD


what a crazy analysis! ksl posted 9 months eps 47sen (annualised 63sen), unexpectedly hong leong bank set tp at rm2.04. on that day, ksl market price between rm2.04 to rm2.17 and closed at rm2.06. with excellent financial result in 2013, ksl at anytime worth more than rm4.00 (p/e 6.3)

cbip just purchase an oil & gas company with rm2. they are planning to enter into oil & gas business.

mkh is top counter in my portfolio (22%) with average price at rm1.69. hope it can double my investment next week. engine just started and i am waiting for it to fly.

mkh is the top counter in my portfolio(22%) with average price at rm1.69. i am waiting for it to fly. engine just started.

ksl's income not only from property development, they also do very well in their hotel and shopping mall which contribute rm100mil revenue and rm58mil or eps 15sen (profit before tax).

david, you are right. recently land rich companies such as brem, shl and cview start boom up. may be is the turn for plenitude soon. plenitude has huge lank bank in tebrau (johor), puchong (selangor), batu ferringi (penang) and sungai petani (kedah). most of the lands bought in a very cheap price and all these lands never revalue for the past 10 years. remember... plenitude a cash up rm396mil (rm1.46/share). last year, plenitude sold a piece of land 3.53 acres in kuala lumpur with cash rm49.5mil (purchase in 2005 with rm3.9mil) with margin rm45.6mil.

me too. i have accumulated fajar share almost 2 years. it's construction projects and property projects were started this year, better financial result will be out soon. I am waiting for it to fly one day.

a lot of articles reported by analysts that mkh will do excellent in year 2014 for both property and plantation, don't you read these?

AK $$, what aero1 going to say is mkh is undervalued. if plantation itself already worth 1bil (rm2.9/share), at current market price of rm2.93, look like property sector no value. it is unbelievable.

not only kajang 2, currently mkh also develop kajang east and sham alam hillpark. for kajang east, they just launch dec 2013 and for sham alam hillpark, pines is fully sold out. they are now open for sale for cherry and olive.

kenanga tp is 3.05

mkh hits 2.77 now.

eddieteong, you may go to the link http://www.skyscrapercity.com/showthread.php?t=112129&page=141. renowaja sdn bhd. is a company 100% owned by fajar.

me too. i am confident fajar will fly one day. they going to launch the service apartments in pulau melaka 1st quarter of 2014. hope they can good result on it.

sjsoon, yes i do agree with you, thanks for your comments.

hi sjsoon, i do agreed with your point. with the current low interest rate, it is better get fund from financial institution rather than right issue, but just look at the foreign exchange loss rm63mil in plantation sector last quarter. today the rate for usd amd ringgit hit 12,000 rupiah and 3,700 rupiah respectively compare to 10,000 rupiah and 3,200 rupiah in Jul-Sept (the quarter mkh loss rm63mil). as US going to cut the QE progressively, the rupiah against usd getting depreciated in the months coming. if there was no action taken by the management to solve this issue, i can foresee the loss in foreign exchange will getting worse for Q1 2014 result. if this really happen, their effort to go into plantation was useless and eventually this will cumber the profit gain from property.

frankly speaking, the direction of mkh to go into plantation is correct and they are do it very well for the currect 15,000ha oil palm estate. but now the main problem is their debt. why not they propose a right issue, that said 1 for 5 at rm2.00. this can easily source for the fund about rm140mil.

ksl hits rm2.18 now.

fajar going to launch the service apartment on 2 parcels of land, total land area 3.508 acres (land cost rm13.5mil as at sept 2010) in pulau melaka. according to fajar annual report 2013, they wanna develop 160 units (26-storey) and 467 units (30-storey) serviced apartment in pulau melaka. all the units are face the sea of straits of malacca. however according to mbmb website (melaka city council), announcement mentioned that fajar planned to develop 16-storey hotel. anyone here can make clarification on this?

mkh berhad previously knows as metro kajang holding berhad. they are based in kajang.

aero1, i am not talking about the cpo price, but the loan facilities mkh get in ringgit and usd to invest in kalimantan. look at the foreign exchange loss of rm66mil for plantation in Q4 2013.

look at the rupiah against usd and ringgit getting worse recently, i worry the loss in foreign exchange in plantation will be deteriorate in 2014. all the profit gain in property will be use to cover loss in plantation. don't know management got any actions to prevent it to be happen.

this is what i worry about, frank88. ksl is a good conter. it's excellent financial result will reflect in it's share price one day. it is too bad if ksl is privatise.