Posted by Icon8888 > 2019-03-21 17:21 | Report Abuse

Holds 62.7% kianjoo

Posted by Icon8888 > 2019-03-22 17:34 | Report Abuse

equity interest in kian joo increases to 75%

well done

Posted by qqq3 > 2019-03-22 18:11 | Report Abuse

Canone people is one of Malaysia's grand masters.....one of a rare breed.

Posted by Icon8888 > 2019-03-22 19:35 | Report Abuse

Their corporate governance is quite bad

Posted by Icon8888 > 2019-03-22 19:36 | Report Abuse

but it is ok. I have learnt to close one eye

Posted by qqq3 > 2019-03-23 11:21 | Report Abuse

Icon8888 > Mar 22, 2019 7:35 PM | Report Abuse

Their corporate governance is quite bad
====

don't understand u.....

what u mean by bad? no dividends? no transparency? inaccurate accounts?.......no such thing.

Posted by qqq3 > 2019-03-23 11:57 | Report Abuse

shareholders of KJ has also benefited from $ 2 to $ 3.

Posted by Icon8888 > 2019-03-23 12:00 | Report Abuse

Few yeas ago, they attempted to steal kianjoo by teaming up a director with EPF

But unsuccessful

Read 2013 announcements


Posted by qqq3 > Mar 23, 2019 11:21 AM | Report Abuse

Icon8888 > Mar 22, 2019 7:35 PM | Report Abuse

Their corporate governance is quite bad
====

don't understand u.....

what u mean by bad? no dividends? no transparency? inaccurate accounts?.......no such thing.

Posted by qqq3 > 2019-03-23 14:06 | Report Abuse

they already successful stole KJ many years ago while the brothers were fighting.........

Posted by qqq3 > 2019-03-23 14:08 | Report Abuse

now the present restructuring makes great sense.

Takes guts and great business sense and this is the best time to do it..........they are the masters

Posted by qqq3 > 2019-03-23 14:10 | Report Abuse

mosquito successfully taken over the elephant at the best possible time.

Posted by qqq3 > 2019-03-23 18:12 | Report Abuse

n8888 > Mar 22, 2019 7:35 PM | Report Abuse

Their corporate governance is quite bad
========

couple years ago, KYY was promoting Canone and price collapsed.....was it company fault that price collapsed and never reached his tp.....like Dayang?

aluminium prices keep shooting up, Press Metal keep on making record profits.....the company stiill making money and they think now is the best time to move on KJ, even though they already control the management with 32%.

much easier to consolidate the two operations after taking KJ private...no more accusations of favoring one over the other.

Posted by Icon8888 > 2019-04-09 10:11 | Report Abuse

Dumb dumb hold

Rolling stone cannot gather moss

Posted by syyl1015 > 2019-04-09 21:00 | Report Abuse

Wow.. what happened for canone

Posted by Icon8888 > 2019-04-10 09:51 | Report Abuse

This stock is experiencing a once in a lifetime re rating

The acquisition of kianjoo (80%+) has fundamentally transformed it

Market doesn't have the numbers to evaluate yet, but insiders are already moving in

Posted by Icon8888 > 2019-04-10 09:51 | Report Abuse

RM4 ? RM5 ? RM6 ?

Only time can tell

Posted by Icon8888 > 2019-04-10 10:19 | Report Abuse

Not necessarily will be a rights issue

They did that once before without rights issue when they acquired 32% stake in kianjoo

Gearing shot up to 500% (if I remember correctly, according to an article in Focys Malaysia or the Edge). But over the years they managed to bring down to less than 100%

Kianjoo is a very strong player. When the stars are aligned, it will flex its muscle big time . The strong profitability and free cash flow will help canone degear

Let's just wait and see

I said the above because I know entrepreneurs hate to cough out own money to acquire assets (via rights issue). Especially for canone boss who is so old already

Posted by pharker > 2019-04-10 10:25 | Report Abuse

They just stole a valuable asset at a deep discounted price, hence valuation up and price begin to move up.

Forget about the gearing issue if their cash flow is able to service the debt, it is only a ratio on paper to scare the financial analyst.

Imagine if I have to borrow RM100 from the bank to acquire an asset at a discounted price of RM100 but which is worth RM200, and provided I can also service my bank borrowings with my income stream. am i better or worst off ??

So if you are a KJ minority shareholder whose shares has been robbed off your hands at a unfair discounted price of RM3.10, what are you going to do to get even ?? Buy back the shares of the robber i.e Canone to get even la..so you indirectly own back KJ

Thats why Canone shares start to move up now...quick before its too expensive..anything below RM4 is a good buy.

Posted by Icon8888 > 2019-04-10 10:27 | Report Abuse

Who robbed minorities ? It is a general offer

You don't like the price don't accept the offer

Posted by pharker > 2019-04-10 10:34 | Report Abuse

if i dont accept the offer, what type of future do i have owning a delisted securities which cannot be traded in the open market ??

Just like if i own a house worth RM2 million, now you offer to buy from me at RM1 million, but if i don't sell to you now at RM1 million, LATER when you offer lapsed YES I still own the house but i cannot sell it in the open market anymore..

Non liquid securities..have you owned one before my friend ??

Posted by Icon8888 > 2019-04-10 10:41 | Report Abuse

Not yet

They can't delist without holding 90%

Posted by Icon8888 > 2019-04-10 10:43 | Report Abuse

But even if it happens, it is a fact of life

At least they are doing it through a General Offer instead of underhand tactic like assets / liabilities disposal

Posted by Icon8888 > 2019-04-10 10:44 | Report Abuse

So you can't really blame them if they managed to delist

They have gone through the public acceptability test

It is quite fair

Posted by pharker > 2019-04-10 14:20 | Report Abuse

regardless, for those KJ minority holders who may feel unfair in the deal, just use the proceeds you got to buy canone shares lo.

Lose some win back more later hopefully. The key here is to get in quickly b4 canone becomes expensive

Posted by Kyou > 2019-04-12 16:10 | Report Abuse

@Icon8888 sifu, may i know what cost of Canone u hold?
tqvm

Posted by Lukey_Greek > 2019-04-21 14:12 | Report Abuse

High gearing of Canone after acquisition of KianJoo will not be a major concern based on the followings:

a) The aluminium price has dropped 20% from the peak 2400USD/MT to <1900USD/MT & tin has been stablized
b) In anticipating of b) above, global metal packaging stocks have rebounded to price higher than early 2018
c) Based on interest rate of 6% on MGO price of RM3.10 (max RM917 mil), total quarterly interest is only RM13.8 mil, which is still below gross profit earned in 4Q18
d) Mr. Yeoh is a master in metal commodity cycles. He has gone through few cycles in his business experience. The acquisition of Alcom is the solid evident on how he time it to buy the company cheap. The profit of the company turned around from -ve after that.

Posted by Lukey_Greek > 2019-04-21 14:14 | Report Abuse

Believe some (small %) of the KianJoo shareholders total RM917 mil will swift to Canone after they receive their payout as suggested by Pharker above.

Posted by qqq3 > 2019-05-03 11:33 | Report Abuse

impressive....Kianjoo money go into canone is only logical.

Posted by fengtzekai > 2019-05-04 08:45 | Report Abuse

I have always been amazed by this Group. Apart from small fish eat big fish story …… and now at the brink of digesting the whole big fish is just one of the reason.

The fact of the rapid growth since its listing just 14 years ago....to grow the revenue from roughly 120 million to now....I dare say not many manufacturing based company on bursa can match that record.

They are not afraid of gearing up for growth...it seems.

Posted by AhSook AhKou > 2019-05-30 17:48 | Report Abuse

Looks like some hot news about to release !!Heading towards RM 4 and in between up & down within 0.10 margin . All the best ......

Posted by shareguru > 2019-06-02 20:31 | Report Abuse

Wait for NEWS!!

Posted by fengtzekai > 2019-06-03 23:32 | Report Abuse

high gearing? what high gearing now?:)

Posted by Icon8888 > 2019-06-04 09:02 | Report Abuse

Huat ah !!!

Posted by alivetoinvest > 2019-06-04 09:18 | Report Abuse

RM 800 million - RM 1 billion offer is RM 4++

Posted by Jack888 > 2019-06-04 09:55 | Report Abuse

私募公司出价10亿‧拟购冠旺奶精业务.

Posted by dompeilee > 2019-06-04 10:32 | Report Abuse

FINALLY! I'm clear in capital gain after buying high @ $3.3675 on 3rd Feb '17! =)

Posted by AhSook AhKou > 2019-06-04 10:56 | Report Abuse

4.00 OTW .......

Posted by AllWin > 2019-06-04 10:59 | Report Abuse

They wanted to sell 3 years ago:
https://www.thestar.com.my/business/business-news/2016/03/12/canone-mulls-sale-of-condensed-milk-ops/

Posted by AhSook AhKou > 2019-06-04 11:31 | Report Abuse

Their assets r very undervalue , at least 15% plus n RM1 billion not over attractive lahhhh I still think the actual value is more than RM 4/share .............

Posted by invincibledog > 2019-06-04 11:34 | Report Abuse

by today 5pm only the deal???

Posted by Newbiesky > 2019-06-04 11:50 | Report Abuse

they got until 5pm to decide whether to take up the offer

Posted by invincibledog > 2019-06-04 11:52 | Report Abuse

fishy???!! 2 days only

Posted by ruby20 > 2019-06-04 11:57 | Report Abuse

The Singaporean party being aggressive here. They know Canone in quite a tight spot.

Posted by invincibledog > 2019-06-04 12:19 | Report Abuse

nth happen

Posted by AllWin > 2019-06-04 13:01 | Report Abuse

Offer accepted.

Posted by moneycashrich > 2019-06-04 13:14 | Report Abuse

so going up. Expected price ?

Posted by fengtzekai > 2019-06-04 14:30 | Report Abuse

Lets work out the math....At RM1 billion offer for F&B, it is worth at least RM5 per Can-One share.

Since it has acquired Kian Joo at RM3.10, and with the cash from F&B sale to pay fully loan for Kian Joo acquisition, Kian Joo share will be free from loan. At 3.10 valuation of Kian Joo per Can-One share is more than RM7 per share.

What about Can-One own business? Its crazy

Posted by Newbiesky > 2019-06-04 14:40 | Report Abuse

trading got suspended?

Posted by noobbie > 2019-06-04 14:42 | Report Abuse

superb deal...really big raya angpow for canone

Posted by ruby20 > 2019-06-04 15:00 |

Post removed.Why?