【CANONE 5105 交流专区】冠旺

kongsenger

谢谢官前辈的分享,canone 5105 冠上旺势,飞向天际.


How can investors make money in 2016?
Author: Koon Yew Yin | Publish date: Sat, 26 Dec 2015, 09:06 AM
http://klse.i3investor.com/blogs/koonyewyinblog/

Many people have asked me this question. In the last 2 festive days, many people told me how I have changed their lives through my charity work and my writing on Malaysian politics and share investment.

One commentator of my recent article said that 99% of the readers like my writing and only 1% do not like. As a writer, I expect some critics and I expect them to do it in a polite manner and not like illiterates or idiots.

Here are some of holdings which still comply with my share selection golden rule even after their prices have gone up quite rapidly. My golden rule is that I must be sure that the company can make more profit this year than last year and the projected P/E ratio is not more than 10.

I advise you to check all the shares you are holding to see that they can comply with my golden rule. Otherwise, you must cut loss and utilize the proceeds to buy better shares.

Can One: It is the largest tin cans and jerry cans manufacturer. It started more than 40 years ago and continues to improve its operation. It bought 146.1 million or 32.9% of Kian Joo shares at Rm 1.65 per share in 2012. The current price of Kian Joo is about Rm 3.30 per share. EPF is one of the 2 parties who have made an offer to buy up Kian Joo. Can One is waiting patiently.

Its 3 quarter EPS ending Sept 2015 was 39 sen and I can safely project its full year EPS to be about 55 because some of its products are sold in US$. Its last closing price was Rm 4.50. It will announce its full year result before end of February 2016.

Chin Well: It is among the largest manufacturers of screws, nuts and bolts in the world. 76% of its products are exported in foreign currencies. After it has acquired the 40% shares from its Vietnamese partners, its latest quarter EPS jumped to 6.07 sen from 4.41 sen. Its last closing price was Rm 1.92 per share.

Thong Guan: It is one of the largest plastic stretch film and bags, raffia stings, drinking straws and paper serviette manufacturers in the Asians region. It started business in 1942.

Its 1st, 2nd and 3rd quarter EPS are 4.4, 6.75 and 10.7 sen respectively. It about 2 months it will have to announce its 4th quarter result. In view of the depressed fossil fuel price, its raw plastic materiel is getting cheaper. What will be its share price when its annual result is announced before end of Feb 2016?

I am also holding VS, Latitude, Lii Hen, Focus Lumber and Ge Shen because they still comply with my golden rule although their share prices have gone up quite rapidly.

I am not asking you to buy any of the shares I mentioned above. But if you buy, you are doing it at your own risk.

kongsenger

Canone - To Sell 32.9% Kian Joo Stake at RM 5.40 per share? - YiStock
Author: yistock   |   Publish date: Sun, 10 Jan 2016, 05:49 PM
http://klse.i3investor.com/blogs/canone/89515.jsp

Hi Value Investors,

If you have bought Canone back in October and holding to it till now, you must be getting a handsome paper profit of at least 80% till last friday.

Like you, i have been holding Canone since Oct 2015 at the cost of RM 2.60. I have also wrote an article on 13 Oct 2015 about my interpretation on possible upside gain of share price. Here is the link : http://klse.i3investor.com/blogs/canone/84307.jsp

Till now, 3 months has passed. And the share price has reached my initial target. AND I WILL GOING TO HOLD IT AS THINGS ARE GETTING REALLY INTERESTING NOW!!!

I have several reason to back my decision:

1st: CONTRIBUTION FROM KIAN JOO to CANONE

See Below: KianJoo has continue to contribute REMARKABLE SUM of profit to CANONE bottom line. For the past 3 quarters, it contribute RM 8.9 million (Q1), RM 11.4 million (+28% from Q1) & RM 14.4 million (+26% from Q2).






If i would to project using 27%, KianJoon MAY contribute RM 18.3 in Q4 2015 to Canone and added up the whole year contribution to RM 52.9 million full year. This is a remarkable achievement compared to FY 2013 @ RM 39 million and FY 2014@ 35.9 million.



2nd: EXCHANGE RATE

If you are one of the share holders, you must also know that the whole take over saga has a WHITE KNIGHT, TOYOTA TSUSHO. who offered RM 3.74 per share to take over Kianjoo.

AT that time, around Oct 2013, we have RINGGIT VS USD at around USD 1 : RM 3.05

If you use RM 3.74 x 146,131,272 shares (32.9% stake) = RM 546,530,957.20/ 3.05 = USD 179,190,477.7

The same amount of USD budget, is now worth:

USD 179,190,477.70 x 4.4 = RM 788,438,101.8 @ RM 5.395 per share!!!



3rd: EPF consortium May offer up to RM 4.00 per share?

I suspect the offer may go as high as RM 4.23 in my previous article.

FOCUS MALAYSIA in their DEC 2015 issue has indicated that EPF may need to offer up to RM 4.00 per share due to getting valuable Kian Joo's stake based on company performance, cash pile and NTA in 2015 compared to 2013.

IF seriously EPF is to buy over Kian Joo which is more valueable now, he seriously has to fight with TOYOTA group which has now up to RM 5.395 per share waiting to offer to CANONE's shareholders.





4th: HOW IMPORTANT IS KIANJOO's STAKE  TO TOYOTA TSUSHO?

We all know that JAPAN ABENOMIC is on going and the enterprises there are now full of cash to expand their biz. And i believe TOYOTA is now MORE KEEN to fight for this deal, not only because ringgit is weaker, but also they really need to quickly achieve the inflation of 2%. Seriously a lot need to be done to achieve this target. Just look at how many time QE is USA.



Conclusion:

IF YOU ARE HOLDING CANONE, JUST HOLD AND SEE, I WILL AGAIN REVIEW THIS STOCK WHEN IT TOUCHES RM 6.00 per share

Cheers

YiStock.

Additional Note:

All my articles are for reading pleasure only and should not be treated as buy/ sell call on any particular company mentioned in the articles.

I can never be 100% sure on the data i sourced and correctly predict the performance of the company I mentioned in the articles.

My investment strategy is very simple, If the business fundamental is improving, i will buy in whatever amount i can. On the other hand, once i start noticing sign of deterioration, i will immediately cut the profit / losses. I only take care of downside, the upside will take care of itself

If i missed any investment opportunity, i will acknowledge i missed it. If i make a mistake on judging the source of info or material i read on certain company i invest in, i will only blame myself and vow to do better in future.

My strategy is FA come first, and forever FA.

I only have 2 sifu, one is KCChong, One is OTB. Take courses from these 2 sifu, and do my own practice. I believe in: the master leads you to the door, the rest is up to you.

I have 2 idol, Mr ColdEye and Bursa Dummy.

I have several investors that i pay high regards to: SooJinHou, Noby, ICON8888, RicheHo, Justabouttheprofit,  EzraInvestor, Pakcik Saham, letitgoletitgo

I have an enemy: FEAR

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2015	31 Dec 2014	31 Dec 2015	31 Dec 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	236,260	249,955	886,473	898,946
2	Profit/(loss) before tax	17,178	33,932	98,309	88,088
3	Profit/(loss) for the period	13,938	29,106	83,811	70,999
4	Profit/(loss) attributable to ordinary equity holders of the parent	13,938	26,481	80,107	63,776
5	Basic earnings/(loss) per share (Subunit)	7.25	17.38	45.93	41.85
6	Proposed/Declared dividend per share (Subunit)	4.00	5.00	4.00	5.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.3110		3.4174

Remarks :

The Board of Directors of Can-One Berhad ("the Company") is recommending a first and final single-tier dividend of 8% (4.0 sen per share) for the financial year ended 31 December 2015, subject to the approval by the shareholders at the forthcoming Annual General Meeting of the Company.

icy97

Type	Announcement
Subject	OTHERS
Description	PROPOSED FIRST AND FINAL SINGLE-TIER DIVIDEND OF 8% (4 SEN PER SHARE) IN RESPECT OF THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
The Board of Directors of Can-One Berhad ("the Company") is pleased to propose a first and final single-tier dividend of 8% (4 sen per share) on 192,153,000 ordinary shares in respect of the financial year ended 31 December 2015 for shareholders' approval at the forthcoming Twelfth Annual General Meeting of the Company. This announcement is dated 29 February 2016.

icy97

冠旺乳品业务8亿求售 传KWAP有兴趣

财经新闻 财经  2016-03-13 11:34
（吉隆坡12日讯）传冠旺（CANONE，5105，主板工业产品股）有意脱售乳制品生产业务的80%股权，要价8亿令吉价格，吸引了公务员退休基金（KWAP）的感兴趣。

《星报》引述消息报道，冠旺的乳制品生产业务，目前隶属于独资子公司F&B Nutrition私人有限公司（FNSB）旗下，业务活动包括生产甜味炼乳、浓缩炼乳和各种口味的牛奶。

“根据FNSB在2015财年净赚的4200万令吉，冠旺把该公司的估值设在20倍的盈利水平，由此，该业务的估值将高达8.4亿令吉，高于冠旺目前的6.956亿令吉市值。”

据悉，公司有意脱售高达80%的股权，从而取得高达6.72令吉的收入，但熟悉这宗交易的银行业者指出，实际脱售股权规模，可能会低于80%。

消息指，这宗交易是为了帮助FNSB未来数年的上市计划铺路，届时，该公司将以高于盈利20倍的水平挂牌，因此，目前是买家趁低收购的良好时机。”【南洋网财经】


Can-One mulls sale of condensed milk ops
Saturday, 12 March 2016
http://www.thestar.com.my/business/business-news/2016/03/12/canone-mulls-sale-of-condensed-milk-ops/

ultraviolet2221

Offer要结束了星期一，大量加码建仓。

icy97

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-14032016-00001
Subject	Article Entitled: "Can-One Mulls Sale of Condensed Milk Ops"
Description	CAN-ONE BERHAD'S ("CAN-ONE" OR "THE COMPANY") CLARIFICATIONS ON THE ARTICLE ENTITLED "CAN-ONE MULLS SALE OF CONDENSED MILK OPS" PUBLISHED IN THE STAR ON 12 MARCH 2016
Query Letter Contents	We refer to the above article entitled "Can-One Mulls Sale of Condensed Milk Ops" appearing in The Star on 12 March 2016, a copy of which is enclosed for you reference. In particular, we would like to draw your attention to the underlined sentences which are reproduced as follows : "Can-One Bhd is in the process of disposing a stake in its dairy manufacturing business in a deal that values the asset around RM800mil, sources say." "The planned stake sale is in Can-One’s wholly owned subsidiary F&B Nutrition Sdn Bhd." “Sources say that Can-One is seeking a valuation of up to 20 times earnings for F&B Nutrition, based on targeted profit after tax of RM42mil for the financial year 2015. This would value the business as high as RM840mil.” “Sources said that Can-One is looking to sell up to 80% in F&B Nutrition.” In accordance with Bursa Securities' Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article in particular the underlined sentences after due and diligent enquiry with all the directors, major shareholders and all such other persons reasonably familiar with the matters about which the disclosure is to be made in this respect. In the event you deny the above reported sentences or any other part of the article, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above reported sentences or any other part of the article, you are required to set forth facts sufficient to support the same.
We refer to Bursa Malaysia Securities Berhad’s letter Ref. No. IQL-14032016-00001 dated 14 March 2016 in relation to the article entitled “Can-One Mulls Sale of Condensed Milk Ops” published in The Star on 12 March 2016, in particular the following sentences reproduced: (i)    Can-One Bhd is in the process of disposing a stake in its dairy manufacturing business in a deal that values the asset around RM800mil, sources say. (ii)    The planned stake sale is in Can-One’s wholly owned subsidiary F&B Nutrition Sdn Bhd. (iii)   Sources say that Can-One is seeking a valuation of up to 20 times earnings for F&B Nutrition, based on targeted profit after tax of RM42mil for the financial year 2015. This would value the business as high as RM840mil. (iv)     Sources said that Can-One is looking to sell up to 80% in F&B Nutrition. Can-One Berhad (“Can-One” or the “Company”) has made due and diligent enquiry with its directors, major shareholders and all such other persons reasonably familiar with the matter and wishes to clarify that Can-One has been approached by a number of parties expressing interest in F & B Nutrition Sdn Bhd (“F&B”). Can-One wishes to further clarify that no proposal or offer in respect of F&B has been received so far. Should there be any material development on Can-One’s equity interest in F&B which warrants disclosure, the appropriate announcement will be made to Bursa Malaysia Securities Berhad accordingly. This announcement is dated 14 March 2016.

kongsenger

CANONE 5105 冠旺 RM4.14 買入---
2015 eps=45.93 sen,pe=12 ,share price=rm5.51 ,very undervalue.

Dude, what about Canone now?
Author: cephasyu   |   Publish date: Mon, 14 Mar 2016, 01:29 PM
http://klse.i3investor.com/blogs/rarecharms/93026.jsp

CANONE - 恐慌裡，大家都忘了價值? - YiStock
Author: YiStock   |   Publish date: Tue, 1 Mar 2016, 11:42 PM
http://klse.i3investor.com/blogs/canone/92357.jsp

kongsenger

乳品业务股权求售 冠旺证实多方有意
财经新闻 财经  2016-03-17 11:20
http://www.nanyang.com/node/752935?tid=462

（吉隆坡16日讯）针对早前报道，冠旺（CANONE，5105，主板工业产品股）证实，多方有意收购公司旗下乳制品生产业务的股权。

该公司发文告指出，公司已得知有数个潜在买方，有意收购旗下F&B Nutrition私人有限公司（FNSB）的乳制品生产业务股权，然而，冠旺没有透露他们的身分。

未收到收购献议

同时，冠旺也提到，目前没有收到任何来自外界针对该业务的收购献议。

“公司将会向外界宣布任何相关业务在未来的重大进展。”

冠旺的乳制品生产业务，目前隶属于独资子公司FNSB旗下，业务活动包括生产甜味炼乳、浓缩炼乳和各种口味的牛奶。

《星报》在本月12日引述消息报道，冠旺计划把该业务的80%股权，以8亿令吉价格出售，吸引了公务员退休基金（KWAP）的感兴趣。

“根据FNSB在2015财年净赚的4200万令吉，冠旺把该公司的估值设在20倍的本益比水平，由此，该业务的估值高达8.4亿令吉，高于冠旺目前的6.956亿令吉市值。”

消息也提到，这宗交易是为了帮助FNSB未来数年的上市计划铺路，届时，该公司将以高于本益比20倍的水平挂牌，因此，目前是买家趁低收购的良机。

icy97

CAN-ONE BERHAD

EX-date	05 Jul 2016
Entitlement date	11 Jul 2016
Entitlement time	04:00 PM
Entitlement subject	First and Final Dividend
Entitlement description	First and Final Single-Tier Dividend of 8% (4 sen per share)
Period of interest payment	to
Financial Year End	31 Dec 2015
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Tricor Investor & Issuing House Services Sdn BhdUnit 32-01, Level 32, Tower AVertical Business SuiteAvenue 3, Bangsar SouthNo. 8, Jalan Kerinchi59200 Kuala LumpurWilayah PersekutuanMalaysiaTel No. : 603-2783 9299
Payment date	21 Jul 2016
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	11 Jul 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Percentage
Entitlement in Percentage (%)	8.0000
Par Value	Malaysian Ringgit (MYR) 0.500

哭哭鸟

Notice of Interest Sub. S-hldr (29A)                        

CAN-ONE BERHAD

            Particulars of Substantial Securities Holder                        

Name	MR KOON YEW YIN
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary shares of RM0.50 each
Name & address of registered holder	a) Kenanga Nominees (Tempatan) Sdn. Bhd.    - Pledged Securities Account for Koon Yew Yin (002)    (No. of shares: 7,607,000)b) TA Nominees (Tempatan) Sdn. Bhd.    - Pledged Securities Account for Koon Yew Yin     (No. of shares: 3,374,500)c) Alliancegroup Nominees (Tempatan) Sdn. Bhd.    - Pledged Securities Account for Koon Yew Yin (6000051)    (No. of shares: 1,960,700)d) Maybank Nominees (Tempatan) Sdn. Bhd.    - Pledged Securities Account for Koon Yew Yin     (No. of shares: 1,761,100)e) Cimsec Nominees (Tempatan) Sdn. Bhd.    - CIMB Bank for Koon Yew Yin (MY0951)    (No. of shares: 1,255,000)

            

Date interest acquired & no of securities acquired
Currency	Malaysian Ringgit (MYR)
Date interest acquired	01 Apr 2016
No of securities	15,958,300
Circumstances by reason of which Securities Holder has interest	Acquisition
Nature of interest	Direct
Price Transacted ($$)
Total no of securities after change
Direct (units)	15,958,300
Direct (%)	8.305
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Date of notice	11 Apr 2016

冠旺(5105，CANONE)出现显著股权变动。

据该公司今日呈报的股权变动资料显示，官有缘已崛起成为大股东之一，共持有1596万股股票或8.30%股权。据记录显示，官有缘是在4月1日买进这批股票。

icy97

冠旺澄清乳制品业务 未获公务员退休基金献购

财经新闻 财经  2016-04-19 13:08
（吉隆坡18日讯）冠旺（CANONE，5105，主板工业产品股）澄清，公司目前还未收到来自公务员退休基金（KWAP）与其他公司，提出任何有关收购乳制品生产业务的正式献议。

根据文告，冠旺针对《星报》今日有关公务员退休基金董事部正在洽购冠旺乳制品生产业务30%股权的报道，作出澄清。

冠旺指出，公司针对该报道，与董事、大股东和相关人士展开咨询后，证实的确有包括KWAP在内的各方，向公司表达对收购F&B Nutrition私人有限公司股权的兴趣。

不过，冠旺进一步澄清，公司如今还未受到来自各方的正式献议。

“因此，如果出现任何有关F&B Nutrition公司股权的重大事件，公司将适时作出公布。”

此外，冠旺也表示，为了公司与股东的最佳利益，公司将不断考虑和寻找所有关于公司业务的潜在商机与企业建议。

根据《星报》报道，KWAP总执行长拿督万卡玛鲁扎曼今日证实，正洽购冠旺F&B Nutrition的30%股权，且有关活动正处于最后阶段。

他说：“KWAP董事成员，已经通过这项收购建议，这次的收购规模对我们来说相当大。公司预计将支付2.8亿令吉，来购入这批股权。”

今年3月，市场已经传出KWAP对冠旺的乳制品生产业务深感兴趣。

这项30%的股权收购总额达2亿8000万令吉，意味着对FNSB的估值相等于9亿3300万令吉，高于冠旺的7亿7600万令吉。

冠旺的乳制品生产业务，目前隶属于独资子公司FNSB旗下，业务活动包括生产甜味炼乳、浓缩炼乳和各种口味的牛奶。【南洋网财经】

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-18042016-00001
Subject	Article Entitled: "KWAP in tie-up with Can-One"
Description	CAN-ONE BERHAD ("CAN-ONE" OR "THE COMPANY") CLARIFICATIONS ON THE ARTICLE ENTITLED "KWAP IN TIE-UP WITH CAN-ONE" PUBLISHED IN THE STAR ON 18 APRIL 2016
Query Letter Contents	We refer to the above article appearing in The StarBiz, Page 1-2, on Monday, 18 April 2016, a copy of which is enclosed for you reference. In particular, we would like to draw your attention to the underlined sentence(s) which is/are reproduced as follows :-        "KWAP confirmed that it is the final stages of completing an acquisition of a 30% stake in Can-One's wholly-owned dairy manufacturing business, F&B Nutrition Sdn Bhd." "The Board of KWAP has approved in principle the purchase... the acquisition is sizeable for us," "KWAP is expected to pay RM280mil for the stake in F&B Nutrition." "Kamaruzaman said that the deal would entail some conditions for F&B Nutrition to meet and this in turn could result in KWAP owning up to a 40% stake in the company." In accordance with Bursa Securities' Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article in particular the underlined sentences after due and diligent enquiry with all the directors, major shareholders and all such other person reasonably familiar with the matters about which the disclosure is to made in this respect. In the event you deny the above reported sentences or any other part of the article, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above reported sentences or any other part of the article, you are required to set forth facts sufficient to support the same.
We refer to Bursa Malaysia Securities Berhad’s letter Ref. No. IQL-18042016-00001 dated 18 April 2016 in relation to the article entitled “KWAP in tie-up with Can-One” published in The Star on 18 April 2016, in particular the following sentences reproduced: (i)     “KWAP confirmed that it is the final stages of completing an acquisition of a 30% stake in Can-One's wholly-owned dairy manufacturing business, F&B Nutrition Sdn Bhd.” (ii)     “The Board of KWAP has approved in principle the purchase... the acquisition is sizeable for us,” (iii)    “KWAP is expected to pay RM280mil for the stake in F&B Nutrition.” (iv)     “Kamaruzaman said that the deal would entail some conditions for F&B Nutrition to meet and this in turn could result in KWAP owning up to a 40% stake in the company.” Can-One Berhad (“Can-One” or the “Company”) has made due and diligent enquiry with its directors, major shareholders and all such other persons reasonably familiar with the matter and wishes to clarify that Can-One has been approached by a number of parties (including Kumpulan Wang Persaraan (Diperbadankan)) expressing interest to acquire equity interest in F&B Nutrition Sdn Bhd (“F&B”). Can-One wishes to clarify that the Company will always consider and explore all potential opportunities and/or corporate proposals involving the businesses of the Can-One group of companies (including F&B) in the best interest of Can-One and its shareholders. However, Can-One wishes to further clarify that no formal proposal or offer in respect of F&B has been received from any party as at to date. Should there be any material development on Can-One’s equity interest in F&B which warrants disclosure, the appropriate announcement will be made to Bursa Malaysia Securities Berhad accordingly. This announcement is dated 18 April 2016.

哭哭鸟

Canone: When suitors come calling...
Tuesday, April 19, 2016
http://nexttrade.blogspot.my/2016/04/canone-when-suitors-come-calling.html

Latest Corporate Development

There is an article in the Star newspaper yesterday entitled “KWAP in tie-up with Can-One” where the gist is as follows:
(i)     “KWAP confirmed that it is the final stages of completing an acquisition of a 30% stake in Can-One's wholly-owned dairy manufacturing business, F&B Nutrition Sdn Bhd.”
(ii)     “The Board of KWAP has approved in principle the purchase”
(iii)    “KWAP is expected to pay RM280mil for the stake in F&B Nutrition.”
(iv)     “Kamaruzaman said that the deal would entail some conditions for F&B Nutrition to meet and this in turn could result in KWAP owning up to a 40% stake in the company.”

This announcement caught Canone by surprise. The company then made its announcement to Bursa (here) which include this statement:
Can-One Berhad has made due and diligent inquiry (sic) with its directors, major shareholders and all such other persons reasonably familiar with the matter and wishes to clarify that Can-One has been approached by a number of parties (including Kumpulan Wang Persaraan (Diperbadankan)) expressing interest to acquire equity interest in F&B Nutrition Sdn Bhd.
Notwithstanding the denial of knowledge by the company of the negotiation (this being a company's affair, not a shareholder's affair), the deal will likely go through. After all, the buyer seems to be very eager and the price seems to be fairly handsome from the seller's perspective.

Finally, this potential deal comes in the nick of time after the cancellation of the sale of business by its associate, Kianjoo to Aspire Insight Sdn Bhd. With the fund raised from the sale of 30%-stake in F&B Nutrition, the financial position of Canone would improve. This may have caused its management to signal its withdrawal of support for the Kianjoo's sale of business; causing the collapse of that deal.

Valuing Canone

The 2 main assets of Canone are:
100% in F&B Nutrition (valued at RM840 million)
32.9% in Kianjoo (market value at RM473 million)
Assuming that the long-term borrowings of RM270 million are used to finance the acquisition of Kianjoo while the short-term borrowings are used for working capital by its own tin manufacturing (not related to Kianjoo's operation) and F&B Nutrition, the value of the company (based on the 2 main assets) is about RM1043 million [RM840 million + RM473 million - RM270 million]. The net assets value per share will be about RM10.86 [RM1043 million divided by 96 million shares issued]. If we discount that by 50%, the fair value of the stock is about RM5.43.

Results Update

In QE31/12/2015, Canone's net profit dropped 49% q-o-q or 47% y-o-y to RM14 million while revenue dropped by 3% q-o-q or 5% y-o-y to RM236 million. Revenue dropped q-o-q due lower sales of general cans division (due to lower demand for jerry cans) and lower revenue from food products division (due to lower demand for sweetened creamer). Lower sales of food product plus higher material consumption & higher operating expenses led to a drop in PBT for the latter division. Despite lower revenue, general cans division recorded higher PBT due to better contribution by tin cans & lower losses in flexi packaging.


Table: Canone's last 8 quarterly results


Chart 1: Canone's last 36 quarterly P&L results
[Note: P&L diagram displays chronological order from left to right.]

Technical Outlook

Canone's share price is in a tentative intermediate uptrend line, SS with support at RM3.80. It has broken above its medium-term downtrend line, RR at RM3.90 in early April.


Chart 2: Canone's daily chart as at April 18, 2016 (Source: ShareInvestor.com)
  
Canone is in an irregular long-term upward channel.
  

Chart 3: Canone's daily chart as at April 18, 2016 (Source: ShareInvestor.com)

Conclusion

Based on satisfactory financial performance, attractive valuation & potential windfall from a possible sale of a 30%-stake in F&B Nutrition, Canone could be a good stock for trading BUY.

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Canone.

icy97

冠旺乳製品生意待价而沽

财经  2016年04月28日 | 记者：赖尧章
（八打灵28日讯）虽然冠旺集团（CANONE，5105，主板工业股）被传已经接近以2亿8000万令吉，卖出F&B Nutrition的30%股权，但董事局今日重申不急予出售乳製品生意，除非买方的出价让人心动。

冠旺集团首席营运员兼执行董事杨明璋表示，董事局並不急予出售经营乳製品生意的F&B Nutrition私人有限公司，而会等到有买方提出有吸引力的收购价才会考虑。

同时，他说，冠旺集团目前没有和任何一方达成协议，若公司接获正式的收购建议，就会对外作出宣佈。

杨明璋是在出席冠旺的年度股东大会后，对记者发表谈话。杨明璋乃冠旺集团大股东杨仁和的儿子。而杨氏家族目前是冠旺集团的最大股东，持股率是23.50%。

无论如何，杨明璋强调，乳製品是一盘赚钱的生意，因此该公司不太可能卖完F&B Nutrition的所有股份。但若有任何一方提出很好的收购价，董事局会慎重考虑。

他补充，冠旺集团並非主动出售F&B Nutrition，因此没有设下交易价的底线，一切取决於买方的收购建议。

当被问及冠旺曾和有哪一些买方洽商时，杨明璋回应说，「我们不方便透露潜在买家的身份，但它们来自本地和外国。」

根据媒体报导，冠旺集团打算以2亿8000万令吉的价格，將F&B Nutrition的30%股权卖给公务员退休金局（KWAP），而这项交易已经进入最后阶段。

F&B Nutrition的净利贡献占冠旺集团整体净利的一半，该公司在瓜拉冷岳拥有3家工厂及超过500名员工，其食品出口至世界各国。

除此之外，杨明璋也说，该公司去年投资6100万令吉来扩充產能，每年的炼奶產量將因此增加，今年便將验收投资成果。因此，董事局乐观看待该公司今年的净利前景。

至於Aspire Insight私人有限公司和公积金局取消私有化建裕珍厂（KIANJOO，3522，主板工业股），杨明璋对此表示，「我们没有甚么意见，这只是一个商业决定，」

冠旺集团是建裕珍厂的最大股东，持股率是32.90%。【东方网财经】

哭哭鸟

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2016	31 Mar 2015	31 Mar 2016	31 Mar 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	204,891	191,292	204,891	191,292
2	Profit/(loss) before tax	15,876	18,838	15,876	18,838
3	Profit/(loss) for the period	10,953	16,873	10,953	16,873
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,953	15,053	10,953	15,053
5	Basic earnings/(loss) per share (Subunit)	5.70	9.88	5.70	9.88
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.3718		3.4429

Remarks :

The Board of Directors of Can-One Berhad does not recommend the payment of any dividend in respect of the First Quarter ended 31 March 2016.

sp13501

哈哈！ 看到之前我写的东西，自己也觉得好笑 。。。

这支股，我过去两年都有玩，真的很好玩。最便宜，我买到 1.95 （14年12月），最高卖到 4.59 （15年12月）。卖玩就没有再进了，今年都没有玩这个了。 等着机会再进场。

hkl_libra86

sp13501 发表于 26-5-2016 10:25 PM
哈哈！ 看到之前我写的东西，自己也觉得好笑 。。。

这支股，我过去两年都有玩，真的很好玩。最便宜，我买到 1.95 （14年12月），最高卖到 4.59 （15年12月）。卖玩就没有再进了，今年都没有玩这个了。 等着机会 ...

我也在等着机会进场~
看到historical price, 觉得很有吸引力.而且报告出了后,股价一直在跌~
去年9月到rm2+.

icy97

食品营收．联号公司贡献．冠旺次季净利扬14%

（吉隆坡24日讯）食品营收和联号公司贡献带动，冠旺（5105，主板工业产品组）截至2016年6月30日第二季净利增加14.04%至2699万5000令吉，前期净利则为2367万令吉。

同期间，该公司首半年净利为3794万8000令吉，比前期净利3872万3000令吉微跌2%。

该公司第二季营业额增加11.76%至2亿4204万5000令吉，首半年营业额上涨9.58%至4亿4693万6000令吉。

该公司文告指出，旗下珍罐业务第二季营收微增1.4%至968万令吉，惟税前盈利下跌，因较高营运开支及外汇因素所致。食品业务第二季营收增加22.7%至1亿3880万令吉，同时盈利也有增无减，主要是销售额增加。

建裕珍厂贡献1280万

国际贸易业务营收走低，因较低公司之间销售。联号公司——建裕珍厂（KIANJOO，3522，主板工业产品组）做出1280万令吉净利贡献，按年增加130万令吉。

该公司文告指出，公司对2016年财政年其余季度业绩表现持乐观态度。公司将继续专注改善生产力及营运效率，以缓和提升成本及加强竞争力。

文章来源：
星洲日报‧财经‧2016.08.25

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2016	30 Jun 2015	30 Jun 2016	30 Jun 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	242,045	216,568	446,936	407,860
2	Profit/(loss) before tax	32,602	29,733	48,478	48,571
3	Profit/(loss) for the period	26,995	25,554	37,948	42,427
4	Profit/(loss) attributable to ordinary equity holders of the parent	26,995	23,670	37,948	38,723
5	Basic earnings/(loss) per share (Subunit)	14.05	14.77	19.75	24.77
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.5517		3.4429

Remarks :

The Board of Directors of Can-One Berhad does not recommend the payment of any dividend in respect of the Second Quarter ended 30 June 2016.

哭哭鸟

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2016	30 Sep 2015	30 Sep 2016	30 Sep 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	213,598	242,353	660,534	650,213
2	Profit/(loss) before tax	27,450	32,560	75,928	81,131
3	Profit/(loss) for the period	23,641	27,446	61,589	69,873
4	Profit/(loss) attributable to ordinary equity holders of the parent	23,641	27,446	61,589	66,169
5	Basic earnings/(loss) per share (Subunit)	12.30	14.28	32.05	39.29
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.6885		3.4429

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2016	31 Dec 2015	31 Dec 2016	31 Dec 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	267,644	236,260	928,178	886,473
2	Profit/(loss) before tax	31,058	14,398	106,986	95,529
3	Profit/(loss) for the period	24,784	11,158	86,373	81,031
4	Profit/(loss) attributable to ordinary equity holders of the parent	24,784	11,158	86,373	77,327
5	Basic earnings/(loss) per share (Subunit)	12.90	5.81	44.95	44.34
6	Proposed/Declared dividend per share (Subunit)	4.00	4.00	4.00	4.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.8953		3.4429