Thursday, June 20, 2013

Day Trades : Sold SUNREIT ^^



1. SUNREIT - Sold all my SUNREIT at RM1.63. ^^

2. IGBREIT - Bought in at RM1.34. ^^

3. Watch List :-

PUNCAK - Pending free warrant & water restructuring
KHSB - Revise of take over price to 80+
UOADEV - Pending 12sen dividend
MPHB - Pending 48.5sen capital repayment

4. Good Luck. !!!

26 comments:

hng said...

Just used up all available trading limit, increasing stake in both Puncak and KPS,

Bought more Puncak at 1.82-1.83
Bough more KPS at 1.28-1.29

Teng said...

Hng

Well done. Think market will rebound later today

hng said...

I will later post my calculation for both KPS and Puncak intrinsic value here.


hng said...

SHAH ALAM: Kumpulan Perangsang Selangor Bhd (KPSB) is actively looking for new business opportunities on the strength of its expected RM1.79bil proceeds from the divestment of its stake in Kumpulan Hartanah Selangor Bhd (KHSB) and its water assets.

The sale of its 56.57% stake in KHSB to Kumpulan Darul Ehsan Bhd (KDEB), the state government investment arm, would result in a total of RM193.5mil or 76 sen a share.

This sale is expected to be completed by July 27, pending shareholders' approval.

KPSB is also divesting its water assets consisting of a 30% stake in Syarikat Pengeluar Air Selangor Holdings Bhd and a 90.83% stake in Konsortium ABASS Sdn Bhd to KDEB for RM600mil and RM1bil, respectively, inclusive of liabilities.

KPSB has, in principle, accepted the indicative terms and conditions of the offer by KDEB.

The Selangor water restructuring saga is still pending conclusion since its commencement five years ago. KPSB chairman YM Raja Idris Raja Kamarudin said the board had mandated its management to look into new business opportunities to reinvest the proceeds expected from the above-mentioned divestments.

“We have not decided which areas we are interested to venture into, as discussions are ongoing.

“We may also use the proceeds to expand our existing businesses and pare down our debt,” he told reporters after the company's AGM.

Water and property development made the bulk of KPSB's revenue, contributing RM186mil and RM72.7mil, respectively, to group revenue last year. The group's total revenue for 2012 stood at RM384.2mil.

When asked on the anticipated reduction in revenue this year on the expected completion of the KHSB sale soon, Raja Idris said he was not too worried about this, as what was important was the bottom line.

KPSB is also involved in the business of hospitality, golf clubs and recreation as well as trading.

The company is also excited about the two new strategic businesses of telecommunications and oil and gas, which it embarked on in 2012.

These two new ventures should start contributing positively to the group by 2015.

On Feb 20, the Selangor government launched the formal process to take over all four water concessionaires in Selangor, with a total offer of RM9.65bil.

The companies are Syarikat Bekalan Air Selangor Sdn Bhd, Puncak Niaga Sdn Bhd, Konsortium ABASS and Syarikat Pengeluar Air Selangor Holdings.

“We believe the state government would be meeting the Federal Government soon to discuss the consolidation of the water industry in Selangor as a holistic solution, and we are awaiting further notification from KDEB on the proposed offer,” commented Raja Idris.

hng said...

Based on the above information and KPS latest financial result.

KPS after divestment in KHSB, its total assets will reduce from 3487m to 3160m, its total liabilities will reduce from 2184m to 1661m, resulting net gain 196m or 41sen/share.

If take into account divestment in water assets, KPS will record total assets reduction from 3160m to 2998m and total liabilities reduction from 1661m to 279.6m, resulting net gain of 1219.4m or RM2.55/share

hng said...

Lets calculate the intrinsic value for Puncak

Based on latest balance sheet and KDEB offer price for its 70% in syabas (equity 437.8m and resume liability 2679.2m) + wholly own PNSB ( equity 1117.5m and resume liabilities 1359.5m). If the deal materialize, Puncak balance sheet will become total assets reduction from 2919.3m to 1364m, total liabilities will record reverse gain of 1480m, resulting Puncak becoming free debt with total assets of 2844m or net asset of RM 6.92/share

Teng said...

Hng

Good analysis

But Puncak said they will not sell water asset/Syabas.

hng said...

Teng

Puncak already show interest to further negotiate with KDEB, as the offer price already very attractive and resume all its liability. The problem now is Puncak management wanna to continue operate water concession even divest it to KDEB, to change its role from concession ownership to operator to derive fixed operation income.

Despite that, Puncak have already gradually divert its focus from water business to oil and gas, which will be a biggest contrbutor if after divest all its water concession.

hng said...

EPF after consecutive sell off Puncak share through open market has ease to be substantial shareholder now.

Now is turn for Tan Seri Rozali, the major shareholder of Puncak, accumulate Puncak share (41.34%)

Teng said...

Hng

Puncak CEO bought share via his son this week

hng said...

Teng

Off course, CEO know much better Puncak intrinsic value and wanna to entitle more upcoming free warrant.

Teng said...

Managed to follow Hng to grab Puncak at 1.85 but missed KPS. I queue 1.31 and dont think it will match

hng said...

Time to show Puncak and KPS strength

hng said...

Free Puncak warrant overdue but should be very near to announce entitlement

hng said...

Sold off all today Puncak at 1.90, realize handsome intraday gain first

hng said...

Bought back partial Puncak again at 1.88 and UOAdev at 2.43

hng said...

Sold back again Puncak at 1.90, and q to buy more UOAdev at 2.42

hng said...

Bought more UOAdev at 2.42

hng said...

UOAdev today volume is 2x higher, i think pressure is come from EPF selloff again :(

hng said...

I think someone must key in wrongly, causing bjtot to trade at 3.20 !?

Wei Loon Goh said...

Bjtoto, coastal, bkawan, tdm.. what sign is this? worry..

David said...

buy bjtoto on Monday RM3.2. Cheap sale.

hng said...

Something wasn't right about today market:

Unusual loser: Bkawan; UTDPLT; TDM; Bjtoto; CBIP; HSPlant; coastal.

Unusual gainer: Star; JCY; YSP

Teng said...

Bkawan should be trade error( or intentional error?)Star reported this. Think Bkawan's holding company KLK also had similar case.

So good to enter low price for some counter last minute

horse said...

Very unusual market today.
Some glitch in computer or wrong key in price ?

BJTOTO BKAWAN UTDPLT TDM .... big drop.

Teng said...

BJtoto-Monday limit up is about 4.16. Still worth to buy??

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