My target price is RM2.00 and forecasting dividend for the coming quarter 7-8%. The company will have new record high in Revenue. And is for long term, now economy outlook is good, still a good buy.
Jack, the last interim dividend was paid on 28th Sept 2011 and amounted to RM39 per lot.
They have declared another interim dividend to be paid end of this month i think.
(Sorry for the late response. I rarely check the stocks, i'm a long term "buy and hold" investor. Haven't touched my portfolio in months and the only reason why i'm back checking abit is because i needed to convert my YTLCement to YTL Corp. After which i'll be hibernating again ....)
This is a good counter with strong dividend, business (diversify) and management team. It is not the goreng counter like Naim, Puncak, etc. Have faith on it.
Tightly held by family doesn't means no good. Most of the management team members have more than 15 years of experience in their own expertise. It is one of the fund manager's favourite counters. Just my 2 cents.
Hap Seng Consolidated Bhd's 50 million shares were transacted in an off-market deal on Thursday at RM1.73 each.
Stock market data showed the 2.28% stake was transacted 6.13% or 10 sen above Wednesday's closing price of RM1.63.
At midday, Hap Seng's share price was up one sen to RM1.64 in regular trade.
The company has also been buying its shares. Since April 30 to Wednesday, it had bought back 3.16 million shares and the cumulative net outstanding treasury shares was 17.247 million shares.
Since 19 March 2012 when the Co announced the sale of land and making a profit of RM38.4m to be booked in 1Q12, the Co went on an aggressive buy-back of its own shares, Since then, it had bought 12.8m shares, making a total of 19.1m shares to date.
Very often, you can see the buying in the last 10mins of afternoon session, in fact in the last a few seconds before 4.50pm.
Today,(24 May, Thurs) it was 350,000 shares was bought at 1.65 pushing the price up by 1 bid; yesterday it was done 100,000 at 1.64 and 330,000 at 1.65, pushing the price up by 2 bids. On 21 May (Mon) the Co bought 300,000 at 1.63, the closing price of the day. There are more of such buying, too many to list.
In addition, its 100% subsidiary, Hap Seng Insurance bought 50m Hap Seng Consol shares from its Hong Kong sister Co on 17 May 2012.
With the Co buy back, it mght be worth while to take a small position. At least you know the price is supported.
This counter is one of the favorite counters by fund managers. You can see its major share holders are mostly fund manager. i.e, Public Regular Saving Funds, Public Ittikal Fund, Public Aggressive Growth Fund....
The Company is quite diversified in its busness - it is involved in property, plantations, automotive, credit financing, the fertiliser business and quarrying and building materials.
The counter is 73.73% owned by the Lau family, up from 69.35% in Oct 2011.
With the increase in the stake in the Co and the continuing accumulation of shares via buy-back by the Co, one would expect the forthcoming quaterly results would indeed be good.
The counter is trading in a price channel between 1.60 and 1.70.
stop dreaming, it wont. Last quarter with an pleased result cum an nice dividend it still stucked at 1.75-1.76... How do you expect it to reach 1.80 without any encouragement to buy in an uncertainty market like now?
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calimali
6 posts
Posted by calimali > 2011-10-12 09:43 | Report Abuse
any info for this counter