Kuchai is listed company main income from dividend of stock investment. Kuchai is a assets rich but non-core business entity.
The main assets of Kuchai are 26% stake in SBAGAN(2569) which listed in Bursa Malaysia and 3 Million share of Great Eastern Singapore (G07) which listed in Singapore Stock Exchange. Based on market price of stock above, these investment worth more than RM300Million (SBAGAN - RM53Million + Great Eastern - RM250Million).
In addition of assets above, Kuchai hold net cash RM63Million with zero debts.
If we just add up 2 stocks and cash, it is equal to RM363Million. Share issued of Kuchai is 123Million shares, if we dividend it with assets above RM363 Million/ 123 Million share = RM3.00 !!
We can using RM1.38 per share to buy a stock worth at least RM3.00.
If i'm the major shareholder, i sure will privatise this company. Since market highly undervalued the stock. Even privatise it at RM2.00 per share, i'm still can made extra RM1.00 per share.
en-uk
http://klse.i3investor.com/blogs/call/130902.jsp
