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hee, maybe too cheap to become blue chip...mr kwek leng beng better work extra hard to catch up with city devt ...since hl asia say they got lot of cash, they better do somethings to comfort small investors like us...better shout loud at next egm
chinton86 ( Date: 20-Sep-2011 18:59) Posted:
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This one blue chip meh
OK THANKS, REALLY HARD TO DIGEST, ACTUALLY WHAT U THINK ABOUT THIS COUNTER?? THE COUNTER EVER HIT LOW AT FIFTY CENTS IN 2009(I BOUGHT SOME) AND ALSO HIT HIGH AT 5 DOLLARS WITH A YEAR IN 2010 BASICALLY, I ALSO LOOK AT THE YIELD, AROUND SIX PERCENT I CONSIDER OK TO INVEST, ANY ONE WISH TO COMMENTS THIS BLUE CHIP COUNTER.THANKS
Jackpot2010 ( Date: 19-Sep-2011 21:53) Posted:
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Quite normal and nothing new if the counter trade below the NAV...
I am also learning. It is a bit technical so my explanation may not be easily understood. If u look at the capital portion of the balance sheet the non-controllable interest is more than the capital + reserve. Bcos HL Asia consolidate the accs of Tasek Corporation Bhd even though it owns less than 50%. All the cash you see in the top portion is partly owned by Tasek Corp. Also u must use " net" cash because short-term loan is about $400m + long term loan of another $200m leaving a net cash of only $300m to be shared between HL Asia & Tasek Corp. Roughly net cash per share is about $0.50 or less (depending on % owned by Tasek Corp which is not known). Hope it helps.
maybe u can help to digest by reading the 2q report from sgx web sites, total share issues 373832k,cash in hand 901800k..inital i though the figure is wrong, but later i confirm from shareinvestor, seems the figure is right..thus i also very surprise..this counter is not a s chip , boss is kwek leng beng from city devt or hong leong group...so very stable,
Jackpot2010 ( Date: 19-Sep-2011 21:16) Posted:
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HL Asia is more blue-chip than s-chip, majority-owned by Kwek Leng Beng, was also fund managers' favourite until recent times. It fell from High near $5 in 2010 to $1.575 today. Maybe their China businesses r having difficult time but it is certainly not a ponzi business unlike many S-chips.
Because this is a S-Chip right ?
$2.41 cash-at-bank vs $1.60 mkt price per share? Don't make sense. Therefore, calculation of $2.41/share must be wrong - Otherwise Kwek Leng Beng will be 1st one to buy up all - i.e. paying $1.60 in exchange for cash-at-bank of $2.41/share. Net Asset Value of $2.04 is correct though.
according to 2q result, cash in hand around $901800k, that meant each share worth $2.41 , why share price below it cash value? undervalue? or can the minorityshareholder ask the company for a cash distribution. anyone can explain why? and wat should we do to be fair to minority shareholder. dividen yield around 6.34% but i think we should deserve more....any supporters??