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12
KIANJOO (3522) : KIAN JOO CAN FACTORY BERHAD
KLSETrader
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Posts: 38
Joined: Jan 2012		 10 Jan 2012, 03:28 PMPost #21
mad Can-One and parties plan to privatise or merge with Kian Joo

PETALING JAYA: Can-One Bhd's major shareholder along with friendly parties are considering a privatisation or merger exercise with Kian Joo Can Factory Bhd, reliable sources said.

The move is said to be related to Can-One's acquisition of a 32.9% stake in Kian Joo, which should be completed today, after a lengthy court battle.

The source also said that Can-One was getting funding for the Kian Joo shares from Kuwait Finance House (KFH) while MIMB Investment Bank was handling the crossing of the shares.

“With the 32.9% stake in Kian Joo, Can-One will be able to equity-account Kian Joo's earnings. Hence, the major shareholder (of Can-One) is probably looking to take advantage of the current cheap valuation (of Can-One),” said the banking source.

Last week, the Federal Court ruled in favour of the liquidators of Kian Joo Holdings Sdn Bhd (KJH) to proceed with the sale of 146.13 million Kian Joo shares held by KJH to Can-One for RM241.12mil, or RM1.65 per share. KJH is the vehicle of Kian Joo's founding See family.

It isn't clear how Can-One's major shareholder would raise funds for the privatisation exercise.


As for the option of a merger exercise, the advisers to Can-One's major shareholders are currently crunching the numbers to come up with a fair valuation and share-exchange ratio of both companies.

Currently, the largest shareholder of Can-One is its managing director Yeoh Jin Hoe, who owns a 29.63% stake, while the second largest shareholder is Koperasi Permodalan Felda Bhd with a 13.54%.

For the nine months to Sept 30, 2011, Can-One's net profit was up 85.74% to RM20.01mil on the back of a 46.33% increase in revenue to RM463.69mil.

Over the same period, Kian Joo's net profit was up 13.81% to RM89.75mil on the back of a 11.22% increase in revenue to RM793.54mil.

To recap, Can-One won the tender to purchase the 32% stake in 2009. However, in the last two years it was in dispute with the See family, which owns substantial stakes in Kian Joo, which tried to stop the former from taking control of the company.


Based on their closing prices, Kian Joo's market capitalisation stands at RM941.64mil compared with Can-One's RM277.37mil.

Can-One shares have been on a steady uptrend. Last week alone it had risen close to 60 sen.

It continued to be on the gainers' list yesterday, rising 23 sen to close at RM1.82 on volume of 11.82 million shares. Meanwhile, Kian Joo was down eight sen to RM2.12 on volume of 2.5 million shares.

http://biz.thestar.com.my/news/story.asp?file=/2012/1/10/business/10231694&sec=business
gen_hwang
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Posts: 90
Joined: Dec 2011		 11 Jan 2012, 03:05 PMPost #22
My wish, though pretty unlikely, is that Can One unable to secure loan to buy that 33% KJCF stock from KPMG.

But then even if both merge, it wouldn't be as bad a scenario. Combining, the new entity will own the whole packaging industry in Malaysia! Think about pricing power of the new entity. By then, get ready for your food expenses to increase sweat
ILoveDividend
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Posts: 521
Joined: Dec 2011		 11 Jan 2012, 09:29 PMPost #23
My wish, though pretty unlikely, is that Can One unable to secure loan to buy that 33% KJCF stock fr...gen_hwang @ 11 Jan 2012, 03:05 PM
Just worry CANONE privatise Kianjoo only, then we have less 1 dividend counter to be considered..sad
Mike
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Posts: 87
Joined: Dec 2011		 13 Jan 2012, 01:30 PMPost #24
Today morning gone up 15 sen le.thumbupthumbupthumbup
KLSETrader
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Posts: 38
Joined: Jan 2012		 13 Jan 2012, 01:34 PMPost #25
Today morning gone up 15 sen le....Mike @ 13 Jan 2012, 01:30 PM

Ya...Buy when people fearful...rolleyes
It is a good long term stock.
gen_hwang
Member Star
Posts: 90
Joined: Dec 2011		 13 Jan 2012, 07:23 PMPost #26
My wish, though pretty unlikely, is that Can One unable to secure loan to buy that 33% KJCF stock fr...gen_hwang @ 11 Jan 2012, 03:05 PM

precisely what my second paragraph meant yeah
KLSETrader
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Posts: 38
Joined: Jan 2012		 13 Jan 2012, 08:10 PMPost #27


precisely what my second paragraph meant ...gen_hwang @ 13 Jan 2012, 07:23 PM

First time CANONE and KIANJOO move together. What is the news behind? drool
gen_hwang
Member Star
Posts: 90
Joined: Dec 2011		 13 Jan 2012, 08:40 PMPost #28
maybe people believe a merger ala sapura-kencana to take place soon?

they will own the Malaysian market. wonder if there's antitrust law in Malaysia.
ILoveDividend
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Posts: 521
Joined: Dec 2011		 13 Jan 2012, 08:52 PMPost #29
maybe people believe a merger ala sapura-kencana to take place soon?

they will own the Malays...gen_hwang @ 13 Jan 2012, 08:40 PM

Perhaps people start thinking positive about the merging news? Both of them will become the largest entity in packaging industry if the merging take place.

But i think CANONE is a safer bet now as it is cheaper. smile
ILoveDividend
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Posts: 521
Joined: Dec 2011		 16 Jan 2012, 08:53 AMPost #30
Good new or bad new? doh

Can-One and parties plan to privatise or merge with Kian Joo
By TEE LIN SAY

PETALING JAYA: Can-One Bhd's major shareholder along with friendly parties are considering a privatisation or merger exercise with Kian Joo Can Factory Bhd, reliable sources said.

The move is said to be related to Can-One's acquisition of a 32.9% stake in Kian Joo, which should be completed today, after a lengthy court battle.

The source also said that Can-One was getting funding for the Kian Joo shares from Kuwait Finance House (KFH) while MIMB Investment Bank was handling the crossing of the shares.

“With the 32.9% stake in Kian Joo, Can-One will be able to equity-account Kian Joo's earnings. Hence, the major shareholder (of Can-One) is probably looking to take advantage of the current cheap valuation (of Can-One),” said the banking source.

Last week, the Federal Court ruled in favour of the liquidators of Kian Joo Holdings Sdn Bhd (KJH) to proceed with the sale of 146.13 million Kian Joo shares held by KJH to Can-One for RM241.12mil, or RM1.65 per share. KJH is the vehicle of Kian Joo's founding See family.

It isn't clear how Can-One's major shareholder would raise funds for the privatisation exercise.
gen_hwang
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Posts: 90
Joined: Dec 2011		 16 Jan 2012, 07:56 PMPost #31
A merger is definite a good news for investors, but bad news for customers. lol
kkchong
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Posts: 62
Joined: Jan 2012		 10 Feb 2012, 01:26 PMPost #32
KIANJOO continue going up while canone is dropping now.
gen_hwang
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Posts: 90
Joined: Dec 2011		 16 Feb 2012, 06:56 AMPost #33
http://www.theedgemalaysia.com/business-news/208826-ex-kian-joo-md-13-others-seek-review-of-federal-court-ruling.html

sweat
ILoveDividend
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Posts: 521
Joined: Dec 2011		 16 Feb 2012, 08:56 AMPost #34
http://www.theedgemalaysia.com/business-news/208826-ex-kian-joo-md-13-others-seek-review-of-federal-...gen_hwang @ 16 Feb 2012, 06:56 AM

KIANJOO & CANONE case like drama. Do not know when can have a full stop. star
Jacky
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Posts: 70
Joined: Dec 2011		 01 Mar 2012, 09:44 AMPost #35
Kian Joo reports RM139.5m pre-tax profit

Kian Joo Can Factory Bhd's pre-tax profit for the financial year ended Dec 31, 2011 rose to RM139.492 million from RM132.906 million in 2010. Revenue increased to RM1.086 billion from RM992.671 million.

In a filing to Bursa Malaysia today, Kian Joo said revenue from cans division increased by four per cent to RM774.6 million from RM742.3 million in 2010 mainly due to the improvement in production and operating efficiency.

"Revenue from cartons division increased by 27 per cent from RM192 million to RM244.6 million, mainly from the operations in Vietnam.

"Revenue from contract packing division increased by 14 per cent from RM58.3 million in 2010 to RM66.7 million," the company said.

For this year, the group will continue to focus on its core business and strive to maintain its market share and improve its performance. -- Bernama
gen_hwang
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Posts: 90
Joined: Dec 2011		 05 Mar 2012, 09:37 PMPost #36
KJCF cited for contempt of court for their plagiarism allegation. sweat

http://www.theedgemalaysia.com/political-news/209899-ex-parte-application-to-cite-kian-joo-can-factory-officials-lawyer-for-alleged-plagiarism.html

sweesin
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Posts: 19
Joined: Jan 2012		 05 Mar 2012, 10:11 PMPost #37
KJCF cited for contempt of court for their plagiarism allegation. ...gen_hwang @ 05 Mar 2012, 09:37 PM
hope it won't affects the price tomorrow....
zqhuang
Member Star
Posts: 7
Joined: Apr 2013		 16 Jul 2013, 02:09 PMPost #38
Looks like you guys forgotten about this gem..... it is sitting on a a pile of retain earnings... 864 million, enough to declare a 2:1 bonus by the new substantial shareholder, so as to unlock KJ's value!!
LCCHONG
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Posts: 385
Joined: Jan 2014		 17 Sep 2014, 10:23 PMPost #39
KIANJOO analysis - http://lcchong.wordpress.com/2014/09/17/kianjoo-fundamental-analysis-17-sept-2014/
omightycap
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Posts: 63
Joined: Sep 2015		 19 Nov 2015, 01:44 PMPost #40
O'Mighty likes KIANJOO compared to its peers

Here's why...
https://www.facebook.com/omightycap/photos/a.516884705141868.1073741828.516880861808919/547170888779916/?type=3
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12

yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry

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