ASAS DUNIA BHD
KLSE (MYR): ASAS (5975)
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Last Price
1.71
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Financial
T4Q
31-Mar-2021
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31-Mar-2021
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Discussions
Be the first to like this. Showing 44 of 45 comments
wonder when will this stock release it's value? hold this stock since Aug.
2012-11-20 22:56
Most of the property company is facing LOW PE in second half of the year. I no longer hold this share but I still believe that this counter is a good counter in term of balance sheet and also value of the land plus second bridge in Penang!
2012-12-28 16:22
Johotin88: you may push the price if you willing to =)
Whether the price is moving or not, some time it depends on the market sentiment. No fundamentally changed so far foot the pass 1/2 a year.
2013-01-14 23:47
Tambun gives 50% earning to shareholder. I think is around 7 sen, means more than 7% base on RM0.88. Also supported by cold eyes though both company also supported by him.
2013-01-15 16:47
又一家公司接获私有化献议，这一回将被私有化的公司公司是曾在去年被冷眼前辈点名的ASAS（雅沙斯世界，5975，主板產业股）。
这是一项联合收购计划，大股东出价每股1.70令吉以收购剩余的股权。
个人认为这收购价非常不合理。
原因一、收购价只比股价高一点
ASAS昨天（7月29日）的市价为1.63令吉，1.70令吉的收购价只比市价高出7仙或4.29%。
大股东出手不够大方之余，还显得有点小家子气，让人觉得诚意不足。
此外，对那些之前以高过1.70令吉买入该股的小股东也不利，不仅赚不到甜头，还要倒亏。
原因二、每股收购价低于每股净资产
根据该公司在截至2013年3月31日的季报，ASAS的每股净资产（NTA）为2.15令吉，1.70令吉的收购价整整比每股净资产低了20%。
要以每股1.70令吉收购账面上每股值得2.15令吉的资产，这对大股东来说未免过于划算。
原因三、土地多且未重估
该公司在2012年的年报里头提到，截至2012年12月31日为止拥有大约1158英亩的地皮，而且大部分是坐落在槟州威省一带。
这些地皮的地点良好，很多都是在十多年前买进的，而且这些土地重来没有重估过。现在这些土地的价值可能已涨了好几倍，要是重估这些土地，ASAS的资产何 止倍增。所以相对于在账面上所显示的每股2.15令吉净资产，就显得非常微不足道，ASAS实际的资产可能已远远超过这数目。
原因四、净现金公司
目前，收购方其实已持有41.13%股权，欲收购其余的股权需要付出约1亿9093万令吉的代价。
可是ASAS在目前拥有4164万令吉现金，而且无负债。在扣除这笔现金后，收购方其实只需要付出约1亿4929万令吉而已。
以不足1亿5000万令吉来换取超过4亿令吉的资产，而且实际的资产可能还不止4亿，大股东实在是太精明了！
再加上公司每年最少还可赚2000万令吉（去年净利2725万令吉），几年之后就可以回本。而且必要时还可以将一些资产脱售，到时后可以更快回本。
如意算盘打得响，好比拿糖换间厂。
佩服！佩服！
2013-07-30 18:32
If $150,000,000 can buy $400,000,000 properties,then pls don't sell your shares.Let the major shareholders has a hard time.Look at HL cap,the major shareholders is asking a low price to take over the co, at the end, it does not succeed.So , pls don't sell your shares to thsi stingy major shareholders.
2013-07-30 19:25
本人曾经在asas dunia 当过地盘书记，其实，公司里是没什么运作，来来去去就只是那几个工地在运作，也没什么大工程。里头还有几个大超市是没运作，荒废几十年。最让人骄傲的只是他们是先建后售的。不过，这些都走得很慢。
2013-07-30 20:47
看来私有化是不可能的。。。只是可能大股东要拿便宜货。也可能是出货。大老板，tony chang...也没什么理啦。。只交给大儿子管理。最看好的接班人，老二也在前几年意外去世。兄弟也各有自己的承接公司在竞标母公司的工程。。
2013-07-30 20:54
It is way too cheap I agree. This company has a hell lot of landbank in Sebarang Perai Selatan within a reasonable distance from the second Bridge. These land has not been revalued yet. Revalued NTA can easily reach RM 3 something per share
2013-07-31 12:34
what a trick!
did I mentioned high vol. on 26 Jun? The vol. was 3M...
guess what? yesterday+today vol also 3M ^_^
2013-07-31 18:07
Minority shareholders that don't agree may try to push up the share price
2013-08-01 11:53
confirm yourself with accountants, new accounting standard for real estate/construction sector coming in 2014 (delayed from 2013), fair valuation of assets, NTA going to jump, this is why they want to take it private, list again in few years, check out annual report about land size, area and see mudah/lelong for average price, you can calculate fair value and be surprised at the number
2013-08-03 14:28
Agreed we minority should hold out for a higher offer. Not much trade above 1.70 done.
2013-08-03 23:11
just as few members has spoken, good landbank, positive sufficient capital but it's literally an inactive company, they intend to keep it this way. it's like we got a super powerful train, but the driver/pilot is unwilling to move it, what can we do as retail/passenger?
2013-08-04 00:13
just wait ... we have one inefficient market in Malaysia. I don't think any such company in US markets will be valued at 20% discount to NTA with assets at book value. When fair value reporting comes in later and revalue all landbank, market will start thinking why price at 1.7 when NTA is say 5? btw, 5 is very conservative! the catch is hope they don't reach 50% this round.
2013-08-04 10:36
price is 1.74 now, message to other minority sharehodlers, DON'T SELL
the value is a lot more than NTA of 2.15!
2013-08-05 16:08
update:- announcement on Bursa website
In accordance with the Malaysian Code on Take-Overs and Mergers, 2010, the Board of Directors of Asas Dunia Berhad (save for Tony Chan Leong Foon, Dato' Jerry Chan Fook Sing, Chan Fook Sun and Chan Fook Hean) wishes to announce that Kenanga Investment Bank Berhad has been appointed to act as the Independent Adviser to advise the non-interested Directors and holders of the Offer Shares on the reasonableness and fairness of the Offer.
2013-08-06 22:04
The offer price is daylight robber. I estimate that asas is worth at least 3.00 or up to 4.00. Land near penang 2nd bridge has gone up. Don't look at NTA because its based on its land valuation as long ago as 1995. Look at how well tambun share price have done. It is also penang 2nd bridge play. Asas mnorities should kick up a shit storm
2013-08-19 16:24
independent adviser report came out and said the offer value NOT fair.
using RNAV method, it should be 2.83 per share!
2013-09-01 10:08
Dato Chan's direct & indirect share holdings at 89.43% (Bursa 14/10 announcement). Looks like privatization highly likely.
2013-10-14 17:55
I just spoke to kumar of RHBInvestment cooperate finance head, I was informed final extension date will fall on 18-10-13. That means 3 more trading days n currently major shareholders still fall short of 0.03% .Minor shareholders please don't let go your shares so that privatization will fail.
2013-10-14 18:53
ASAS-Suspension Of Trading
ASAS DUNIA BERHAD
LISTING'S CIRCULAR NO. L/Q : 69009 OF 2013
Kindly be advised that trading in ASAS' shares will be suspended with effect from 9.00 a.m., Monday, 28 October 2013, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements.
Your attention is drawn to the Company's announcement dated 18 October 2013.
2013-10-23 17:49
Owners offering 1.89 for each share not owned by them, below NTA and below RNAV of 2.83 last September
2014-07-08 14:02
Penang property market to be resilient on sustained demand
PETALING JAYA (Nov 13): Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state.
“There has been a slowdown in the last year. There are a few categories of investors in Penang; those who are owner occupiers, those who are investors for the cultural developments, those who are in the Malaysia My Second Home (MM2H) and Penangites who work abroad but would like to settle in Malaysia,” said Penang Institute CEO and head of economics studies Dr Lim Kim Hwa (pictured) at the National Real Estate Convention (NREC) 2015 yesterday.
“For the last two categories, the properties in Penang would be priced significantly cheaper, thus I believe the demand in the property sector in Penang would remain rather constant,” concluded Lim during his presentation entitled “Penang: The Next Metropolis”.
In terms of the wider economy, Penang is expected to register a 5% to 6% growth in its gross domestic product (GDP), outpacing the overall country’s growth by 1%, he said, noting that last year, Penang’s GDP grew by 7.4% while Malaysia’s grew by 6%.
According to Lim, Penang contributes 21.8% of the balance of Malaysia’s trade surplus, specialising in machinery, transport equipment and miscellaneous manufactured articles.
“Penang’s economy is more export-orientated, and now there is a better demand for electrical and electronic goods,” he said.
The export sector is expected to improve with the recovery of the US economy and the weaker ringgit, he added.
“It is important that Penang provides the best environment to attract more investments. Penang is the main manufacturing and economic hub for electronic and electrical items. Bayan Lepas is already full. It is important to provide more space for industrial growth.”
Some of the projects and initiatives that are expected to contribute to this growth is the IT-BPO at Bayan Lepas, BPO Prime at Bayan Baru and Changkat Byram, south of Batu Kawan.
Other projects that will benefit Penang overall include the Penang Transport Master Plan, Penang Heritage Arts District – Ilham Penang at Sia Boey, Creative Animation Triggers at Wisma Yeap Chor Ee, and Komtar refurbishment. “All of these projects involve the private sector,” added Lim.
“The Penang Transport Master Plan (PTMP) is the catalyst to [turning Penang into a] metropolis, as it involves alleviating a lot of the problems locally in Penang, especially traffic congestion,” said Lim.
Expected to be completed in 2030, the RM27 billion project would include amenities such as trams for the heritage zones, LRT for the island and mainland, and water taxis.
Lim said Penang is on track to achieving its metropolis status.
“It is an ongoing process, and there is no deadline. Penang aims to transform into an international, intelligent city filled with life. To create a great metropolis, it has to be unique, and it has to attract people to want to live and expand the growth of the city,” he said.
NREC 2015 saw more than 250 participants from the banking, development, property and consultancy industries.
NREC is organised by the Royal Institution of Surveyors Malaysia (RISM) and co-organised by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).
Themed “Homes For Generations – Redefining Development Trends”, the convention highlighted concerns for the future of the real estate industry in Malaysia.
http://www.theedgeproperty.com.my/my/content/penang-property-market-be-resilient-sustained-demand
2015-11-13 21:38
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CS Tan
4.9 / 5.0
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....
Siew Jian Bin
A good undervalue company with lands bought before 2005. NA easily more than RM3 per share if revalue yet the price is only RM1.05. 5 sen dividend means ard 5% DY.
2012-02-26 22:02