Guan Chong Bhd, a cocoa processor, climbed 1.4 per cent to RM2.83, poised for its highest close since June 15. The stock's price estimate was raised to RM3.20 from RM2.80 at HwangDBS Vickers Research Sdn after the company said it's seeking a secondary listing in Singapore and also proposed a one-for-two bonus share issue. -- Bloomberg
Regional cocoa grinder Guan Chong Bhd received the nod from the Singapore Exchange yesterday to display its prospectus for its impending listing on the main board of the republic's stock exchange.
Guan Chong Bhd, one of the leading cocoa processors in the region, has commissioned a second production line at its plant in Batam, which takes the group's total annual capacity to 200,000 metric tonnes.
It said the new 60,000 metric tonnes line brings the Batam facility's yearly output to 120,000 metric tonnes.
The company also has a cocoa grinding plant in Pasir Gudang which is capable of producing up to 80,000 metric tonnes a year.
Managing Director and Chief Executive Officer Brandon Tay Hoe Lian said commissioning of the second production line marked a new corporate milestone for the group.
"With the commissioning of the second line in Batam, our new total annual cocoa grinding capacity will consolidate our position as one of the regional leaders in this industry," he said in a statement.
Aside from cocoa grinding facilities, the new line would also provide powder pulverising and butter deodorising capabilities, he said.
The company had invested RM70 million capital expenditure in the second line and to upgrade Batam plant's facilities, he added.
Based on good financial performance, stable industrial outlook and attractive valuation, GCB is a good stock for long-term investment. GCB is poised it record high RM3.02 today.
GCB is likely to climb higher if it closes above its all-time high of RM3.10. A position can be initiated above the level with a close below the psychological RM3.00 as a stop-loss. The price target is RM4.10 and selling is also anticipated at RM3.70. Failure to break higher could see the stock continue its sideways move, with supports at RM2.60 and RM2.40.
(GCB, 5102, the motherboard consumer products stocks) to clarify the investor briefing held in Singapore and Hong Kong, Singapore secondary listing plan is not only still active in the company.
GCB today released statement for the media about plan divest 20-30% stake in the original secondary listing of Singapore, the secondary listing plan may be canceled, reports responded. The statement said that the group still active secondary listing of Singapore. " Preparation of investor briefing With the secondary listing of the GCB proceeding with the investor briefing, the goal is not only institutional investors, including long-term investment in strategic investors. " Source were the Group's stock will be available for Singapore investors to invest. "
GCB is currently in Singapore and Hong Kong investor briefing. Earlier today, Bloomberg News quoted unnamed source, reported that source cases of Group plans to sell off originally scheduled for 20-30% of the Singapore secondary listing of equity to raise funds for expansion plans. The report pointed out that buyers have approached the supplier and source of cases of Group acquisition of equity issues, once the two sides reached an agreement to source cases the Group may cancel the secondary listing in Singapore as originally planned. However, sources have not been disclosed to the potential buyer's identity.
Since the source cases in Group announced plans secondary listing in Singapore, the company's share price all the way up 11%. If the GCB successful secondary listing in Singapore, its market capitalization will be increased to a level of 900 million to 88 million ringgit. Equity sell off plan may replace the news came out of the secondary listing of the Group's share price of the source were a little fluctuation.
(GCB, 5102, consumer goods group) shareholders in a special general meeting approved the secondary listing of business activities in Singapore.
Source cases in a statement issued today, said the company has obtained the approval of local and Singapore all relevant stakeholders on this issue. It says: "The results of the source were Group during the Singapore listing plan next charter, ie, promote the activities of the prospectus to pave the way."
Nevertheless, the source were Group Managing Director and chief executive officer pointed out that Zheng He linked the details of the promotion activities of this prospectus has not yet developed. He said: "We will make the appropriate announcement at the appropriate time."
Source were the Group's secondary listing in Singapore activities covering 6,000 2,000,000 ordinary shares, half of new shares, while the remaining half is part of the existing shareholders of the Placing.
On the other hand, the company's shareholders at the special general meeting of shareholders through 2 Get a Bonus Scheme. Upon completion of the listed activities and plans of bonus shares, its share capital will increase to 100 million $ 1.5 million ringgit.
Yes.Invested on my 5 star basic selection business performance requirement.Latest link as know.. http://www.nanyang.com/node/461810?tid=461target Thanks bigyellow,if any further info share out.
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): COMBINATION OF NEW ISSUE OF SECURITIES GUAN CHONG BERHAD (“GCB” or the "Company") (I) SECONDARY LISTING OF GCB ON THE MAIN BOARD OF SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (“SGX-ST”); AND (II) BONUS ISSUE
GUAN CHONG BERHAD
17/08/2012 05:39:57 PM
Type
Announcement
Subject
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) COMBINATION OF NEW ISSUE OF SECURITIES
Description
GUAN CHONG BERHAD (“GCB” or the "Company")
(I) SECONDARY LISTING OF GCB ON THE MAIN BOARD OF SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (“SGX-ST”); AND
(II) BONUS ISSUE
We refer to the earlier announcements in relation to the Secondary Listing and Bonus Issue. On behalf of the Board of Directors of GCB, Hong Leong Investment Bank Berhad wishes to announce that the Company does not intend to proceed with the Secondary Listing on the SGX-ST for the time being as the Company wishes to reassess its strategic directions with regard to capital requirements for the expansion of its business.
Notwithstanding the above, the Company will be proceeding with the Bonus Issue.
GCB announced that the company decided not to implement its secondary listing of the Singapore Exchange.
Source were Group Managing Director and chief executive officer Zheng He associated in a statement issued today said: "after careful consideration, we hope to re-evaluate their own strategic direction, to take of development activities required capital conditions."
He added: "We are still committed to expand their business to the world, to take one of the world's leading cocoa processors in the future. In addition, we remain focused in the implementation of growth strategies, in an effort to source-cases in Group continuing interest. "
The sources were Group is one of the largest cocoa processors in the region, its annual production of 200,000 tonnes. The company a total of two treatment facilities were built in the Gudang Brazil and India Nipah Batam (Batam is).
On message above : What are the impact on share price reflection on coming days ? On current low row material of cocoa price and strong US dollar rages will benefit on improving the earning forecast. What decision will be make on myself..to reduce hold or buy more during weakness ? Can someone share your opinion.Thanks in advance.
I really hope it will drop till 2.75-2.80 level even the mgmt said the bonus issue will remain unchanged for those like me to have chances lower down average price..
Entitlement Details: Bonus issue of 158,752,929 new ordinary shares of RM0.25 each in Guan Chong Berhad ("GCB") ("GCB Shares") to be credited as fully paid-up, on the basis of 1 new GCB Share for every 2 existing GCB Shares held by the shareholders of GCB ("Bonus Shares")
Entitlement Type: Bonus Issue Entitlement Date and Time: 11/09/2012 05:00 PM Year Ending/Period Ending/Ended Date: EX Date: 07/09/2012 To SCANS Date: Payment Date: Interest Payment Period: Rights Issue Price: 0.000 Trading of Rights Start On: Trading of Rights End On: Stock Par Value:
5102 GCB GUAN CHONG BHD Third Interim Tax-Exempt Single-Tier Dividend 2.5 Sen
Entitlement Details: Third interim tax-exempt single-tier dividend of 2.5 sen per ordinary share in respect of the financial year ending 31 December 2012
Entitlement Type: Interim Dividend Entitlement Date and Time: 07/09/2012 04:00 PM Year Ending/Period Ending/Ended Date: 31/12/2012 EX Date: 05/09/2012 To SCANS Date: Payment Date: 21/09/2012
Say no resting or put brokerages estimated market bleak or GCB today shelve the secondary listing of the reasons, resulting in the company is unable to obtain a good valuation.
Research analyst in the report that the company originally planned secondary listing in Singapore, narrowing the gap with the food industry also listed in Singapore.
"However, believe that is because of poor market conditions, the market has been unable to achieve substantial valuation, I believe the company to cancel the listing plan."
The analyst pointed out that, currently listed in Singapore, Petra Food was valued at 14.6 times PE ratio, but the GCB local market would have only been 6.4 times PE ratio.
However, if compared to the lower valuation JB Foods 4.5 times PE ratio will affect the future appreciation potential of the GCB can not really narrow the valuation gap.
"Although the plan to cancel does not affect the company's fundamentals, but inevitably the share prices of natural phenomenon of reflection, change the share price trading range, so the target price lowered to RM3.00.
In response to the "Star" email: " have received multiple strategic partner's offer, intends to buy the source were the Group's equity. They inject a good thing, but they still regard each other the suitability of our growth plan . " GCB on Friday announced the cancellation of the planned secondary listing in Singapore. Investors are very disappointed about this announcement, in particular, this program just a month before the approval of the shareholders. Source cases in last Friday's proclamation that did not continue to secondary listing plans, mainly because I wanted to revaluation of the new direction and need capital to expand their business regarding.
Potential rerating? GCB is fairly valued at RM2.40, based on FY13 8x PER, which is in line with its 3-year average PER band. In view of the steep discount to the sector's average PER of 12.0x, the implied PER is fairly low and we do not rule out a potential rerating on the stock due to 1) the increase in liquidity after the recent bonus issue, 2) decent yield of 3.9% and 3) the twin catalysts for positive earnings growth rate.
did anyone follow this stock? i found out a weird situation ( or maybe it is normal in stock market ).
i find out that for few days, there is a huge buying volume queue at RM 2 during 4.45pm, it look to me --> someone doesnt want the closing price below RM 2.
any sifu master here can guide me through this? i will deeply appreciate it. :)
going to announce their financial result, and maybe with dividend as well, it bounce back when it dropped to RM1.90, another very strong counter in my portfolio, looks like their businnes is so much better than TSH and of course Teck Guan because GCB focus only on Cocoa.
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....
gick8912
1 posts
Posted by gick8912 > 2011-05-13 09:18 | Report Abuse
it still have big chance to rise