Clement Hii Chii Kok has emerged as a controlling shareholder in Golsta Synergy with a 37% stake in the Bursa-listed entity, triggering a mandatory general offer, announcements to the stock exchange revealed today.
Sarawak-born Hii has business holdings in education, property development and media. He is the group managing director of higher education provider SEG International (SEGi) in which he collectively owns 67% with private equity firm Navis Capital.
Hii’s private investment vehicle HCK Capital has holdings in business weekly Focus Malaysia and current affairs weekly The Heat. In past years, Hii held the post of deputy executive chairman of The Star during former MCA president Ong Tee Kiat’s term
Today's will be the announcement date for most PLCs. Hmmm….. why pay RM2.10 for the takeover when there is nothing much in the company? Would it be another mini Focal Aim in the making?
small paid up of 42M makes it easier to control and "push". company returned to profitability in property. how does it compare to other medium size property companies?is 4 ringgit acceptable? the market cap is only 170m. compared to other property counters, this is reasonably cheap. i guess. am keen to compare it to eco world just to size it up. any expert opinions.
ecoworld (1,214ha or GDV RM30b) vs golsta (0 ha or GDV RM0 b), ecoworld (Lieu) vs golsta (Hii), ecoworld market cap (RM1.1b) vs golsta (RM180m). Not sure it is comparable, you do the maths.
Ecoworld GDV RM30bil = Market Cap RM1.1bil (that is for Liew). Say, if the GDV is RM3 bio = Market cap of RM110m. So, Golsta is about RM156m, mathematically Golsta should have a GDV of about RM4.25bil. Hmmmm……. perhaps this is too simplistic. If stock market is based on mathematic, everyone will be very rich.
Has ecoworld pump their assets into ecoworld? I don't think so, golsta still have no signs of rebound, lets wait for signal, looks like a game over massive collapse
IOIPG - GDV(bi):MCap (bil) = 21:2.4 EcoWorld - GDV:MCap = 30: (3.4 x 50% adjustment for project not launched compare with IOI) EcoWorld adjusted GDV:MCap = 30:1.7 Golsta GDV:MCap = ??? Assumption. Golsta GDV:MCap = 3:0.17
Ecoworld Land Cost/GDV = 0.6/30 = 2% Golsta Land Cost to be purchase to produce GDV of RM3bil = 3b x 2% = RM60m
On the assumption that Golsta suddenly have a GDV of RM3b, so its market cap is RM170million (or RM3.70 per share). Of course, Golsta need to have RM60mil first.
Please do the maths, at least have a rough basis on the calculation, failing which, how to know whether it is over or undervalued? Of course, if the stocks are cornered, all this calculation is of no use. It can go to RM4, RM8, RM12, RM24, like Segi, 900%. But don't forget Segi start from 22 sen x 900% = RM2.00
So, Golsta should start from 50sen x 900% = RM4.50? Or start from RM2.10 x 900% = RM18.90. However invest or speculate, do the maths. Or, might as well go to Genting Highland, could be better.
It was mentioned 6B GDV to be injected but no confirmation. appreciate the numbers above sf. Am currently stuck at 3.40-3.70. Hopefully it wont be a long wait.
can i get feedback on the takeover price at 2.10. If I buy at 3.50, and has to sell at 2.10, I am better off selling now and take the losses or hold on and wait for revised takeover price? what are my options. tks in advance.
Any experts on property developer out there care to share. In order to develop a RM6b project, how much is the land cost? Say 3-5%? So, land cost for RM6bil project will be RM180m to RM300m. Wow, that's a lot. Say, they can make 20% (conservative figure), wow, the project can make about RM1.2b (perhaps in 5-10 years). What about the construction cost? Does the developer has to pay for it?
Well, of course, you can launch the project, can get the money from buyers (if it is sold well). But, to come to a stage of launching, surely you need to incurred a couple of approvals (6-12 months). Anyway, it would be great if some experts care to share, so we will know how to calculate the base value of the shares.
Ecoworld just announce bought a land RM471m (about RM35psf) in Shah Alam, with a GDV of RM8 billion. Cost of land/GDV is about 5.8%. Assuming someone wants to have a development with a GDV of RM6billion, the cost of land is about RM348 million. (of course it depends when was it bought and at what location, it can be as low as 3% of GDV).
Question is, you can only gives value to the Company if it has already bought the land like Ecoworld (assumed completed), also, the company must have deep pocket to role out such a huge project. Where to get such money? Private Placement? Enough or not? Rights issue?
Company need money to make money. Of course, you can get loan from banks, if the banks like you.
Before 2013, it is traded below 50sen (market cap of RM21m). The stock start moving from Sep 2012 if you look at the chart. It moves from 2.30 in Feb 2014 and touch 4.00 on 10 March (2 weeks), now it just went back to RM2.70 (today market cap is RM124m). Already went up 5 times.
Look at the FA first, and find out roughly how much it is (based on current position). If it an undervalued stocks and with some growth potential, then worth looking. Buying on a pretext of RM6 billion property projects, one has to give it a further thoughts. One, confirm whether the land already inside, if it is, then there is value to it, if there is not, it stays at rumours.
There are many GDV projects out there waiting to happen, some are huge, RM10 billion, some even the land already in there, waiting for it to happen, such as Landmarks. Some take years. Some takes months. Of course, some bought shares on a pretext of visible earning growth, such as Protasco on the construction and development project, they have RM221 million. Looks like they have sufficient money to gradually develop the land (at least the initial part).
The MGO expire soon. Looks like it is staying above the MGO price. I suppose, holder expect it to go up higher. Other than that, I do not see why they hold on to it. Perhaps they have confident that the new owner going to add lots of value to it. At this junction, nothing is visible yet.
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....
kambingberuang
2 posts
Posted by kambingberuang > 2012-05-02 21:41 | Report Abuse
perlu kah..masuk balik huhuhuh