Base on paper CSL is cash rich and with very good profit every quarter. It does not convince me for share price to trade at such low level eventhough it is a china owned company. There could be some manipulation i guess. ^^ Hope i am wrong. ^^ Anyway trade with eye open and be extremely careful on this as it is your hard earn money. ^^
Portfolio today adopt diversification after realize handsome profit on WB yesterday. Aside yesterday bought YTLP being still the largest holding in the portfolio, also buy other stock today: CAP 41.5sen; WCT 2.42; Glomac at 1.07; Magnum at 3.24; HwangDBS 4.31; DRB HICOM 2.54.
HwangDBS enter exclusivity Agreement with Affin Holdings Berhad with a view to dispose off its equity interest in the Bank, HwangIM, HDMF and AIIMAN. Which if successful the HwangDBS will be left with its remaining business of moneylending and commercial banking in Cambodia. However, Hwang have on last Friday announce it also disposed off its entire stake in commercial banking in Cambodia for RM 128m (USD 40m) + office tower for 82.5m, Hwang will left not core business to sustain listing status, and will likely adopt delisting with capital repayment.
1. CAP 41.5sen: 1 for 2 free warrant with exercise price at 35sen
2. WCT 2.42: Expecting to secure additional RM 1 bilion construction project by end of these year
3. Glomac at 1.07: Final dividend of 3.5sen is expecting to declared by end of these week, which together with interim dividend of 3sen, give rise to yield of more than 6% pa
4. Magnum at 3.24: Dividend policy to payout 85% of profit
5. HwangDBS 4.31: HwangDBS enter exclusivity Agreement with Affin Holdings Berhad with a view to dispose off its equity interest in the Bank, HwangIM, HDMF and AIIMAN. Which if successful the HwangDBS will be left with its remaining business of moneylending and commercial banking in Cambodia. However, Hwang have on last Friday announce it also disposed off its entire stake in commercial banking in Cambodia for RM 128m (USD 40m) + office tower for 82.5m, Hwang will left not core business to sustain listing status, and will likely adopt delisting with capital repaymen
6. DRB HICOM 2.54: Proton Perdana replacement/rebadge from Honda Accord is on market next month, with target production of 3000 unit to meet demand for Jusa grade official/minister as official car. Other still pending completion of assets disposal like UniAsia life, UniAsia General, Iskandar land and expectation its associate Pos Msia (32.6%) to declare special dividend to fully utilize section 108 tax credit
Depending on offer price by Affin, should be around 1.3-1.5x (translating to RM 4.80-RM 5.50); much lower than with RHB-OSK (1.77x); Maybank-Kim Eng (1.99x) due to smaller size and market share
So long there is continue share buyback, supporting YTLP share price, WB should be holding well.
I swapping WB to mum as WB trade at premium now and the fact that PBank capping margin line for wb at 40sen only, whereas cap for YTLP is at market price, by swapping, portfolio free up a lot of margin line available for diversification.
If HwangDBS decide to delisting due to non core business, all cash and remnant property asset need to dispose off all. All in all, all cash will have to distribute back to shareholder via first special dividend and subsequent capital repayment
So far they dispose everything except the money lending business only....with profit of about 22 mil a year the money lending business is probably worth 200-250 mil also.
It is become clear now that Hwang DBS is on track to dispose its investment bank to Affin by series of corporate action to realize gain in office disposal for 82.5m (realize net gain RM 31 m) and liquidize investment in Cambodia commercial bank for RM 128m, despite incur slim net loss of about RM3 mm
Also traded few CWs( Mudajaya,Astro,Digi). Made small money because quantity bought is not big. Now sitting on handsome paper gains for Keck Seng( sold some at RM7)
Sold back insas
ReplyDeleteHng, Horse
ReplyDeletewhy sudden drop in index?
Congratz alwayswin. ^^
ReplyDeleteBought in CSL at 0.215. ^^
looks like puncak start flying again
ReplyDeletesold
ReplyDeleteBought YTLP at 1.88-1.89, and sold off all YTLP-WB at 72-72.5sen, realize more than 60% profit
ReplyDeleteHng
DeleteMay I know why you dispose YTLP-wb at this moment ? Can share ? Thanks
Hng
DeleteMay I know why you dispose YTLP-wb at this moment ? Can share ? Thanks
Hng,
DeleteAny how Congrats to you ya with handsome profit !! Thanks a million.
COngratz hng ^^
ReplyDelete> 60% gain in 2 months time. ^^
Very handsome gain indeed. ^^
I will monitor my units and see how it perform tomorrow. ^^
Wish me luck. ^^
Hng
ReplyDeleteNice.... Lovely... Congrats
Sold back CSL at cost, lose some small fee. ^^
ReplyDeleteThis company having good Balance Sheet but selling at 0.215 with so low PE ? I wonder why. Follow your heart when you have doubt. ^^
Good Luck. ^^
Horse,
ReplyDeleteI too sold CSL at a lost.
Some critical remarks in another blog makes you wonder whether this company's finances are true or false. Better safe than sorry.
Horse
ReplyDeleteCSL balance sheet and PE is just too good to be true. PE 1.2x and cash per share of ~RM1?
CSL-China company( facilities in China),company register in Spore( par value SGD0.01) and listed in KLSE.
ReplyDeleteTan,
ReplyDeleteBase on paper CSL is cash rich and with very good profit every quarter. It does not convince me for share price to trade at such low level eventhough it is a china owned company. There could be some manipulation i guess. ^^
Hope i am wrong. ^^
Anyway trade with eye open and be extremely careful on this as it is your hard earn money. ^^
Good Luck.
Teng,
ReplyDeleteI have the same thought as you.^^
Better stay out.
Venture in any so far ?
BJTOTO look attractive at current level at RM4. ^^
ReplyDeletePortfolio today adopt diversification after realize handsome profit on WB yesterday. Aside yesterday bought YTLP being still the largest holding in the portfolio, also buy other stock today: CAP 41.5sen; WCT 2.42; Glomac at 1.07; Magnum at 3.24; HwangDBS 4.31; DRB HICOM 2.54.
ReplyDeleteHwangDBS enter exclusivity Agreement with Affin Holdings Berhad with
ReplyDeletea view to dispose off its equity interest in the Bank, HwangIM, HDMF
and AIIMAN. Which if successful the HwangDBS will be left with its remaining business of moneylending and commercial banking in Cambodia. However, Hwang have on last Friday announce it also disposed off its entire stake in commercial banking in Cambodia for RM 128m (USD 40m) + office tower for 82.5m, Hwang will left not core business to sustain listing status, and will likely adopt delisting with capital repayment.
Hng, do you think YTLP-WB has already peaked? Still holding some...
ReplyDeleteAlso estimated cap repayment for HWDBS is how much?
1. CAP 41.5sen: 1 for 2 free warrant with exercise price at 35sen
ReplyDelete2. WCT 2.42: Expecting to secure additional RM 1 bilion construction project by end of these year
3. Glomac at 1.07: Final dividend of 3.5sen is expecting to declared by end of these week, which together with interim dividend of 3sen, give rise to yield of more than 6% pa
4. Magnum at 3.24: Dividend policy to payout 85% of profit
5. HwangDBS 4.31: HwangDBS enter exclusivity Agreement with Affin Holdings Berhad with
a view to dispose off its equity interest in the Bank, HwangIM, HDMF
and AIIMAN. Which if successful the HwangDBS will be left with its remaining business of moneylending and commercial banking in Cambodia. However, Hwang have on last Friday announce it also disposed off its entire stake in commercial banking in Cambodia for RM 128m (USD 40m) + office tower for 82.5m, Hwang will left not core business to sustain listing status, and will likely adopt delisting with capital repaymen
6. DRB HICOM 2.54: Proton Perdana replacement/rebadge from Honda Accord is on market next month, with target production of 3000 unit to meet demand for Jusa grade official/minister as official car. Other still pending completion of assets disposal like UniAsia life, UniAsia General, Iskandar land and expectation its associate Pos Msia (32.6%) to declare special dividend to fully utilize section 108 tax credit
Gark
ReplyDeleteDepending on offer price by Affin, should be around 1.3-1.5x (translating to RM 4.80-RM 5.50); much lower than with RHB-OSK (1.77x); Maybank-Kim Eng (1.99x) due to smaller size and market share
Gark
ReplyDeleteSo long there is continue share buyback, supporting YTLP share price, WB should be holding well.
I swapping WB to mum as WB trade at premium now and the fact that PBank capping margin line for wb at 40sen only, whereas cap for YTLP is at market price, by swapping, portfolio free up a lot of margin line available for diversification.
I calculated below..
ReplyDeleteAffin deal = 1270 million
Cambodia bank = 128 mil
building sold = 82.5 mil
Total 1480.5 mil
Based on outstanding shares
Total cash received/share is RM 5.58
Now depends how much cap repayment the HDBS wants to give the shareholders...
The affin deal is calculated at 1.3x book value
ReplyDeleteGark
ReplyDeleteIf HwangDBS decide to delisting due to non core business, all cash and remnant property asset need to dispose off all. All in all, all cash will have to distribute back to shareholder via first special dividend and subsequent capital repayment
So far they dispose everything except the money lending business only....with profit of about 22 mil a year the money lending business is probably worth 200-250 mil also.
ReplyDeleteIt is become clear now that Hwang DBS is on track to dispose its investment bank to Affin by series of corporate action to realize gain in office disposal for 82.5m (realize net gain RM 31 m) and liquidize investment in Cambodia commercial bank for RM 128m, despite incur slim net loss of about RM3 mm
ReplyDeleteIn fact hwang asset management has already sent letters to those holding hwang Unit Trust, that Affin will take over the management of the said UT.
ReplyDeleteGark
ReplyDeleteAgreed, moneylending contribute about RM 22m net profit pa, if opt for disposal, should fetch at least 10 x PE
Bought also WTK at 1.29 and tropicana at 1.37 and bought back 1/10 of YTLP-WB at 72sen
ReplyDeleteHorse
ReplyDeleteRecently traded Gadang,GOB and JTiasa. Still holding Sunway bought at 2.84-2.86
Horse
ReplyDeleteAlso traded few CWs( Mudajaya,Astro,Digi). Made small money because quantity bought is not big. Now sitting on handsome paper gains for Keck Seng( sold some at RM7)
Bought DRB 2.51. Hope can tumpang Hng's luck
ReplyDeleteAlso bought some IGB at 2.72 and more DRB at 2.51
ReplyDeleteHng
ReplyDeleteBuying spree today...
Bought more YTLP at 1.88-1.89, after sold off CAP at 43sen, realize contra gain
ReplyDeleteGlomac just declare final dividend of 3.5sen, ex-date on 29 Nov
ReplyDeleteBuyback 4.2m share, 51% of today total volume, range 1.88-1.91, increase 0.06% stake, cumulatively at 6.17% treasury stock now
ReplyDelete