Posted by nicholai1983 > 2019-12-18 15:14 | Report Abuse

last minute show!!!!!!!!!!!!!!!!!!!!!!

Posted by joyvest > 2019-12-18 15:24 | Report Abuse

yer, the show has just started

Posted by gorengking69 > 2019-12-18 15:25 | Report Abuse

@xiaohai the only clever one here. Mamee buy 25 sen only, why you all buy 50 sen???

Posted by joyvest > 2019-12-18 15:31 | Report Abuse

ah hai is talking

Posted by jennychin > 2019-12-18 16:11 | Report Abuse

sure Mamee RTO KHEESAN.... Limit Up soon.

Posted by jennychin > 2019-12-18 16:18 | Report Abuse

The whole exercise is for Mamee-Double Decker to take over KHEESAN... and relist aka RTO

Posted by kingb > 2019-12-18 16:21 | Report Abuse

Story of the weak hearted.

Posted by lee_m2020 > 2019-12-18 16:31 | Report Abuse

woww.. fantastic counter...

Posted by lee_m2020 > 2019-12-18 16:31 | Report Abuse

i will join...

Posted by nicholai1983 > 2019-12-18 16:57 | Report Abuse

today the edge news, mamee forsee will relist thru kheesan

Posted by joyvest > 2019-12-18 17:00 | Report Abuse

kanasai

Posted by Miz Raya Bloom > 2019-12-18 17:02 |

Post removed.Why?

Posted by kingb > 2019-12-18 17:09 | Report Abuse

https://www.theedgemarkets.com/article/mameedouble-decker-back-public-eye

Posted by nicholai1983 > 2019-12-18 18:10 | Report Abuse

if true, kwsp will come in. they love profitable company and well done management

Posted by loonginv > 2019-12-18 18:56 | Report Abuse

hahaha, gooshen always did stupid thing... wait below 40

Posted by ramunia > 2019-12-18 19:00 | Report Abuse

temporarily retrace for Christmas and New year

Posted by kingb > 2019-12-18 22:11 | Report Abuse

Just submitted to bursa for approval: Mamee private placement.

Posted by Kukuman > 2019-12-18 22:21 | Report Abuse

Another lousy penny stock

Posted by ramunia > 2019-12-18 22:23 | Report Abuse

Just wait for it to get below.. 38 or lower or even. 30cents..

Posted by moneyfind > 2019-12-18 23:38 | Report Abuse

Suddenly too many haters plak

Posted by Millions > 2019-12-19 06:23 | Report Abuse

when sell low nobody's want suddenly shot high all go to chase high lol..... hahahaha

Posted by Millions > 2019-12-19 06:25 | Report Abuse

IT looks like a win-win situation. Financially ailing candy maker Khee San Bhd seems to have found a white knight in snack food maker Mamee-Double Decker (M) Sdn Bhd while for the latter, taking up 45.11% of the former’s shares in a private placement could mean a comeback to Bursa Malaysia.

Mamee — which will assume control of Khee San after the proposed share purchase and be obligated to make a mandatory general offer for the remaining shares it does not own — plans to keep the candy maker’s listing status upon the completion of the MGO.

News that Mamee was coming to Khee San’s rescue caused a stir on the market. The latter’s share price rose from 27 sen recorded on Nov 26 to close at 48 sen last Thursday, giving the company a market capitalisation of RM54.9 million.

Best known for its noodles that are not cooked but crushed into snack bites, Mamee was founded by Datuk Pang Chin Hin. It was taken private by the family in 2012.

Currently, Pang sits on the company’s board as its executive chairman while his sons, Tan Sri Pang Tee Chew and Datuk Wira Pang Tee Nam, run the business as group CEO and group chief operating officer respectively.

The company was listed on Bursa in the 1990s until it announced a selective capital repayment in 2011. The stock was trading at 12 times its price-earnings ratio (PER) at the time compared with the average 15 times the valuation of the broader market then.

The offer price for the privatisation was RM4.39, which was at a 21.9% premium to Mamee’s last traded price of RM3.60. By 2012, Mamee had been taken private and delisted from the stock exchange.

Market observers say the company was privatised because its major shareholders felt its stock was undervalued. In fact, Mamee was delivering impressive earnings during the last few years of its listing. Its net profit more than tripled from RM14 million in its financial year ended Dec 31, 2007 (FY2007), to RM42.8 million on revenue of RM482.54 million in FY2010.

Post-privatisation, Mamee continued to grow in terms of revenue and net profit. Based on a company search, it posted a net profit of RM28.85 million in FY2018, up 10.3% from RM26.16 million in FY2014 while revenue grew 25.8% to RM767.34 million from RM609.78 million in the same period.

However, there was a blip in earnings in FY2018, when net profit fell 26.11% from RM39.04 million in FY2017 on revenue that shrank 3.2% from RM792.97 million. Its profit margin also slid to 3.76% in FY2018 from 4.92% in FY2017.

Should Mamee relist on Bursa, will it get the valuation it deserves from investors this time around?

One of its peers on the exchange would be the Melaka-based Oriental Food Industries Holdings Bhd. But in terms of revenue and net profit, Oriental is smaller than Mamee. It posted a net profit of RM14.22 million on revenue of RM286.54 million in its financial year ended March 31, 2019. However, its net profit margin came in higher than Mamee’s, at 5%.

From a valuation standpoint, Oriental was trading at 13 times its PER based on its closing price of 69 sen last Thursday. This gave the company a market capitalisation of RM165.6 million.

That said, it is not certain yet that Mamee will take a controlling stake in Khee San. The latter still needs to get the green light from regulators and shareholders because of its behemoth private placement proposal that involves 94 million new shares, which is equivalent to 45.11% of the company’s total enlarged share capital.

The second part of the proposal will see a renounceable rights issue of 208.4 million new shares on the basis of one rights share for every existing Khee San share.

The proposal will cost Mamee a total of RM61.01 million. Some RM45 million of the proceeds received will be used to repay part of Khee San’s outstanding debt owed to creditors and financial institutions, which amounted to RM125.5 million as at Sept 30, 2019.

After repaying RM45 million, Khee San’s gearing will drop to 0.31 times from 0.64 times as at Dec 31, 2018.

As the candy maker looks set to receive a new controlling shareholder on its board, financially distressed London Biscuits Bhd, which was its largest shareholder, has exited the company. Filings with Bursa show that London Biscuits disposed of its entire 20.8 million shares, or a 20% stake, in Khee San on the open market on Nov 29, shortly before the private placement was proposed on Dec 2.

While London Biscuits is no longer a shareholder of Khee San, its former CEO, Datuk Seri Liew Yew Chung, still holds a direct 6.27% stake in the candy maker.

The Liew family, through its private vehicle Meileelanusa Sdn Bhd, was the largest shareholder of London Biscuits until recently when Sydney-based MembersOne Ventures Fund acquired a substantial 11.35% of the company.

In its third quarter ended Sept 30, 2019, Khee San reported a net loss of RM44.65 million on revenue of RM18.54 million. No comparative figures are available as the company changed its financial year end from June 3

Posted by GooShen > 2019-12-19 09:38 | Report Abuse

Average down, now with 42.5 sen, target to sell 50 sen

Posted by kingb > 2019-12-19 09:42 | Report Abuse

Slow hand

Posted by nicholai1983 > 2019-12-19 09:51 | Report Abuse

recently will have many news come out about this stock. hot stock

Posted by Miz Raya Bloom > 2019-12-19 10:04 |

Post removed.Why?

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

what the hell is going on???

Posted by lee_m2020 > 2019-12-19 12:31 | Report Abuse

This counter is vbest!!!!

Posted by Miz Raya Bloom > 2019-12-19 14:46 | Report Abuse

jangan nak ngada2 kaunter ini mesti naik

Posted by Westeros > 2019-12-19 14:50 | Report Abuse

This counter is on both a selling spree and accumulation mode, long term will go up...relax lah.....

Posted by lee_m2020 > 2019-12-19 14:54 | Report Abuse

BUY ALL at .410 if any

Posted by lee_m2020 > 2019-12-19 14:54 | Report Abuse

this counter shall reboundx10

Posted by lee_m2020 > 2019-12-19 14:55 | Report Abuse

buying 0.415 is not too baddddd!!!!

Posted by CUTLOST > 2019-12-19 15:34 | Report Abuse

No power.. All big fund already sell above 50cts

Posted by Wanpendang > 2019-12-19 15:41 | Report Abuse

Wait below 40cts.......only left retailer.....

Posted by lee_m2020 > 2019-12-19 15:45 | Report Abuse

BUY CALLL!!!!!!

Posted by lee_m2020 > 2019-12-19 15:46 | Report Abuse

Fast be4 rebound high..

Posted by lee_m2020 > 2019-12-19 15:46 | Report Abuse

the best is now

Posted by MCQ8018 > 2019-12-19 15:48 | Report Abuse

Now 405 tomorrow may drop below 400

Posted by gorengking69 > 2019-12-19 16:15 | Report Abuse

No power. Better wait and collect at 30 cents

Posted by nicholai1983 > 2019-12-19 16:26 | Report Abuse

40 sen is limit..... can but at 40 sen or 0.39

Posted by Miz Raya Bloom > 2019-12-19 16:31 | Report Abuse

jangan nak ngada2 kaunter ini mesti naik

Posted by joyvest > 2019-12-19 16:53 | Report Abuse

what the hell is going on ??

Posted by firehawk > 2019-12-19 16:56 | Report Abuse

Bursa revises closing time @4.45pm?

Posted by joyvest > 2019-12-19 17:50 | Report Abuse

why ??

Posted by ramunia > 2019-12-19 18:06 | Report Abuse

Be patience and cool, it is Christmas and New Year... Big boy takes profit while we are struggling...

Posted by CUTLOST > 2019-12-19 18:36 | Report Abuse

Senyap2 celebrate chritmas makan Mamee

Posted by Miz Raya Bloom > 2019-12-19 22:15 |

Post removed.Why?

Posted by lee_m2020 > 2019-12-20 08:49 | Report Abuse

to fly in next 20 minutes

Posted by joyvest > 2019-12-20 08:50 | Report Abuse

ok . . let's see