【KSL 5038 交流专区】顺利实业

1678

朝阳的阳光 发表于 19-6-2013 12:26 AM
好孤寒，只给1个人的餐券，房间假如能免费的最好了。。

怎么我没收到它的酒店房间折扣卷 和 buffet voucher?

1678

谁有去 KSL 股东大会?
分享下? 发展...

谢谢

icy97

股海宝藏:顺利实业估值落后同业

股海宝藏 财经周刊 投资观点  2013-07-01 14:55
产业股在全国大选之后经历一些调整，根据联昌证券报告，产业领域近期因国家银行或废除“发展商承担利息计划”（Developers’ Interest Bearing Scheme，DIBS）的市场传言而面对压力。市场盛传国行会与产业发展商会面，商讨抑制产业市场的投机活动，料国行将向发展商承担利息计划下手。

此外，美联储主席伯南克表明，会收紧购买债券的行动，这使到资金流出亚洲地区，包括马来西亚。

不过，联昌证券认为，产业销量放缓只是暂时性的，长期而言，产业交易将保持稳健，因为我国住宅领域基本因素稳健。

在依斯干达发展区相关的股项当中，顺利实业（KSL，5038，主板产业股）被视为是同侪中本益比最低者。

一般而言，投资者喜爱有参与依斯干达发展区的股项，因为在大选后，依斯干达发展区拥有更清晰的展望。

在全国大选之后，依斯干达发展区主题继续成为投资者目的焦点，因为它获得轻快铁、高速铁路以及新加坡新山轻快铁计划的推动。

此外，很多大型的外国公司也开始进驻依斯干达发展区，这包括CapitaLand、Ascendas Land以及Country Garden。

此外，新加坡采取打房措施，例如提高印花税、低借贷率等，已使一些新加坡潜在买家，转到依斯干达发展区投资。

此外，Iskandar Waterfront控股以及Medini Iskandar Malaysia据悉将会上市，再加上这里的土地买卖非常活络，使实际净资产价值获得上修。尽管产业股处于上涨趋势，但是顺利实业的股价表现还是落后同行。

一月初，市场传言顺利实业将会被私有化后，它的股价由12月12日的1.43令吉，上涨至1月中的1.75令吉。

市场有这样的传言，主要是因为其大股东丘氏家族持有53%的股权，而且实际净资产价值被低估、本益比低廉、地库位于柔佛和巴生谷，这些因素将让市场继续垂青顺利实业。

截至2013年3月31日止，顺利实业在依斯干达发展区拥有2100英亩地库。

这些地库位于新山、峇株巴辖、居銮、昔加末、丰盛港、巴生和吉隆坡的策略地点。

这些地库已经获得批准可以进行发展，料可保持顺利实业中期和长期盈利。

另外，该公司正准备在巴生落实的发展计划，将拥有相等于25亿令吉的发展总值。这地点位于巴生路和万津路旁，到巴生市区只须15分钟，这项混合发展计划料将提升集团未来的盈利。

目前发展项目

1.顺利花园（TAMAN NUSA BESTARI）：在新山西北部，与第二大道有很好的连接。227英亩土地总发展价值10亿。
2.顺福花园（TAMAN BESTARI INDAH）：在新山东北部，靠近乌鲁地南区。700英亩土地总发展价值21亿。
3.金葩顺利花园（TAMAN KEMPAS INDAH）：在新山北部，靠近南北大道和Kempas Toll入口处。237英亩土地总发展价值10亿。
4.KSL综合城（KSL CITY）：在新山市区。是南马区最大型的购物中心。离新山的关卡约5分钟车程，非常靠近新加坡。该酒店和住宅已经在2012年年尾竣工；
5.巴生金葩顺利花园（TAMAN KEMPAS INDAH）：首个巴生谷综合房地产发展计划。靠近武吉丁宜永旺和武吉拉惹佳世客购物中心。

465英亩土地总发展价值25亿，耗时10年。

2013财年首季核心净利创记录。根据丰隆投银，顺利实业的营业额和税前盈利皆按年增长80%，主要是更高的认购率和旗舰计划，即新山KSL综合城计划进账的激励。

此外，KSL综合城的酒店开始营业也贡献盈利。

保留资金购地

顺利实业2013财年首季的赚幅，已经超越2012财年所取得38.2%，达到48.5%。根据过去记录，顺利实业取得介于45%至50%的强劲赚幅。

顺利实业税后盈利按季增20%，管理层将之归功于新山混合发展计划陆续贡献及KSL综合城酒店开始营业带来贡献。

顺利实业管理层继续采取谨慎的派息措施，相信他们是为了保留资金，充作这些用途，即
（1）巴生的发展计划，因为这旗舰计划需要20亿令吉的营运资金，
（2）潜在的地库收购行动，目前财务非常稳固，只有约0.16倍负债比，如果负债比增加至0.5倍，将有4亿令吉购地。



[南洋网财经]

本文分析仅供参考，并非推荐购买或脱售。

投资前请咨询专业金融师
慧眼

icy97

順利實業次季賺6668萬

2013-08-29 11:25      
（吉隆坡28日訊）順利實業（KSL，5038，主板產業組）截至2013年6月30日止，因綜合產業發展計劃竣工和認購率提高，次季淨利激漲166.96%至6千668萬3千令吉，帶動上半年淨利也大起127.93%至1億1千454萬令吉。

該公司營收也大唱豐收，次季營業額躍升157.67%至2億1千502萬5千令吉，促使上半年營業額也飆升121.02%至3億4千912萬令吉。

根據文告，該公司目前擁有近2千英畝地段料支撐中長期的發展和獲利，發展總值達25億令吉的巴生產業發展計劃也料提振未來盈利成長，預見業務前景明朗。（星洲日報／財經）

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2013	30/06/2012	30/06/2013	30/06/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	215,025	83,450	349,120	157,957
2	Profit/(loss) before tax	87,815	33,918	150,400	68,599
3	Profit/(loss) for the period	66,683	24,979	114,540	50,252
4	Profit/(loss) attributable to ordinary equity holders of the parent	66,683	24,979	114,540	50,252
5	Basic earnings/(loss) per share (Subunit)	17.26	6.46	29.64	13.00
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 ($$)	3.1600		2.8700

icy97

等待时机进军海外市场　顺利实业不容小觑

二零一三年九月七日 晚上七时十七分
（吉隆坡7日讯）近年来，由于大多数房地产发展商积极进军依斯干达特区推行产业项目，不过顺利实业有限公司（KSL，5038，产业组）大唱反调，通过它在巴生谷的首个产业项目加纳利花园来渗透当地的市场。

它在该领域的各个部分不断壮大成长，从新山市中心至小城镇，如拉美士和居銮，而且还有些项目正在进行中。

该集团执行主席邱华成在媒体发布会上说：“加纳利花园是首个在柔佛州以外的项目，而我们将会继续探索进军其他市场的各种可能性。”

他打趣称：“人们说我们是以柔佛为基地的公司，但是我们已经进军巴生一带。接下来的时间，当我们扩展海外市场后，你不会感到惊讶。”这就是说，他没有定下一个具体的时间表在何时进行，因它胥视是否遇到合适机会。

他指出：“尽管如此，我们仍看好柔佛和巴生谷的潜质，所以这2个区域将会继续成为我们的焦点。”

邱氏表示，仅在柔佛州就拥有超过2000英亩的土地储备，这将足够公司另外10年的发展用途。

他透露：“我们没有预测销售情况，因为它完全基于供求关系。我们会慢慢地降低有地房屋的兴建量，因为土地价格已经上涨，我们必须维持我们的收益。”

作为局部的企业社会责任，它在昔加末兴建多间可负担房屋。它已经完成了50多个项目，每个项目的房屋数量介于30至100间。在麻坡，它在所发展的住宅产业隔邻兴建巨人霸级市场。

在很短的柔佛之旅中，传媒首先采访该集团的顺福花园。

一般有保留的商人说：“上述项目位于乌鲁地南前面，当所有的发展完成后，该处已不再是‘农村’。”

据他介绍，该公司已在1000英亩的永久业权土地上，完成了8000个房屋单位，以及3万个公寓单位。

该集团一名高级职员称，上述项目开始于2004年，当时仅完成40％至50％，并需要5至超过6年时间完成。

目前，正在推介的莉莉排屋（Lily Terrace），其中间单位的土地面积是20尺x70尺，建筑面积2386平方英尺，标价45万起，至于角间单位则标价80万令吉。

它的楼底高度16英尺，较现时大多数房子为高，并装置太阳窗，让阳光进入屋内。此外，还有4间卧室和3间浴室。

当中最大的单位是茉莉花2，土地面积22尺x70尺，建筑面积2405平方尺，并配有6间卧室和5间浴室。

另一项正在进行中的项目是甘拔士高原，它靠近南北大道。而坐落在该产业对面是实达集团有限公司（SPSETIA，8664，产业组）的热带项目。至于东面则有柔佛置地的拿督翁镇。

他指出：“目前，我们正在建设300间共管式排屋单位，而我们已计划推出1300个被称为D'Secret花园的公寓单位。”

该共管式排屋每单位的土地面积达32尺x70尺，而房间的特点是连接浴室。最重要的是，在地下也设有女佣房间。

该名高级职员表示：“我们将会计划发展该共管式排屋的第2期，因第1期落成的单位，大部分经已出售。”

她透露：“第1阶段的122个单位已在2012年初推出，建筑面积高达3138平方呎。而每单位的发售价是由80万令吉起。”

她预计将在明年推出共有120个单位的第2阶段，其售价将会较第1期高。

至于即将要推出的公寓，她说，将会有4种不同类型，其中包括一房公寓（446平方尺）、2间卧室、3间卧室和4间卧室（2483平方尺）。此外，每座公寓皆有2间顶楼双层复式单位。

在该产业项目中，也有70间店屋已经全部售罄。

顺利实业在位于努沙再也的努沙比斯塔利的500英亩地段内已完成了8000间房屋单位。

邱氏称，在永久业权土地上正在进行的项目：包括被称为D' Inspire Residence的855个公寓单位，而每平方呎售价接近900令吉；以及300个共管式排屋单位和半独立式洋房。

一位销售人员指出，这里有180个共管式排屋单位，而D类型单位的土地面积是36尺X75尺，而售价是118万令吉起。预料在2014年底落成。该批有地屋是有保安人员看守，而且在出入口处设立闸口与保安亭。

D类型房屋售价较C类型贵差不多1倍。C类型房屋在2010年首次推出，当时的售价每间是56万吉。

即使手上还有数个城镇发展项目，邱氏说：“我们会继续寻求策略性土地。”[光华日报财经]

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2013	30/09/2012	30/09/2013	30/09/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	216,799	118,672	565,919	276,629
2	Profit/(loss) before tax	92,035	56,747	242,435	125,346
3	Profit/(loss) for the period	68,396	42,376	182,936	92,628
4	Profit/(loss) attributable to ordinary equity holders of the parent	68,396	42,376	182,936	92,628
5	Basic earnings/(loss) per share (Subunit)	17.70	10.97	47.34	23.97
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 ($$)	3.3400		2.8700

APULA

順利實業沒動靜？
2013-12-22 19:19  
http://biz.sinchew.com.my/node/87456?tid=8
   
讀者KAN問：
為甚麼順利實業（KSL，5038，主板產業組）沒有甚麼動靜，特別是與其他產業股比較？該公司第3季業績的每股淨利為47.34仙，淨有形資產為3令吉34仙。

答：
順利實業在最近第3季業績，實是交出良好的成績單；即其第3季淨利按年揚升61.4%至6千840萬令吉，首9個月淨利則達到1億8千290萬令吉，已經達到豐隆研究預測的104%，以及一般市場全年預測的117%。

這主要是旗下新山已完成的順利實業城的公寓計劃，取得強勁的訂購率，旗下購物中心及酒店業務領域也取得比預期更好的盈利表現，加上旗下巴生的Bestari城鎮發展計劃的銷售也逐漸入賬等利好的推動。

隨著良好第3季業績表現，豐隆研究將其2013至2015年財政年淨利預測上調45%至48%。它是柔佛州依斯干達發展區成長的良好“代理公司”，進軍巴生河流域產業發展計劃，以及重复投資收入持續增長等利好。

豐隆研究預期未來年裡將不會派發股息，主要是它需要資金進行發展計劃，包括總值20億令吉的巴生產業計劃，以及潛在土地收購活動等。

該公司的潛在風險，包括巴生Bestari城鎮發展計劃的執行及需求風險，因為它的未來盈利非常依賴此項計劃的興衰。若是整體產業領域走下坡，預料該公司也難以獨善其身。

豐隆研究指出，該公司的潛在利空因素，包括該公司股票欠缺流通量，以及它過於專注在特定產業投資及發展計劃，從而為它帶來風險。

市場人士認為，最近政府在2014年度財政預算案宣佈系列的打房措施，相信也打擊投資者對產業股的興趣，包括順利實業在內。

豐隆研究在給它的估值評估時指出，由於宏觀經濟及產業領域未來利空因素，使該行給它的未來12個月的合理目標價為2令吉4仙，或等於調整淨資產值的40%折價，並給於“持有”評級。上述一點資料供參考。（星洲日報／投資致富‧投資問診‧文：李文龍）

icy97

设子公司部署发展 顺利实业进军Medini

财经新闻 财经  2014-01-08 12:56
（吉隆坡7日讯）顺利实业（KSL，5038，主板产业股）宣布成立子公司，取名“KSL Medini发展私人有限公司”（简称KSLMD），正式进军依斯干达特区的Medini产业市场。

顺利实业通过文告披露，KSLMD的主要业务是产业投资。

顺利实业是通过内部筹资成立该子公司，对2013财政年的每股净利和每股净资产没有显著影响。[南洋网财经]

KSL HOLDINGS BERHAD

Type	Announcement
Subject	OTHERS
Description	KSL Holdings Berhad ("KSL" or "the Company") - Incorporation of a Subsidiary Company - KSL Medini Development Sdn. Bhd.
1. INTRODUCTION On behalf of the Board of Director of KSL, we are pleased to announce that KSL has incorporated a subsidiary company namely KSL Medini Development Sdn. Bhd. (Company No. 1074615-X) (“KSLMD”) and the transfers of the three (3) subscribers' shares of RM1.00 each to KSL were only completed on 7 January 2014. 2. INFORMATION ON KSLMD KSLMD was incorporated in Malaysia under the Companies Act, 1965 with an authorised capital of RM400,000.00 divided into 400,000 ordinary shares of RM1.00 each. The principal activity of KSLMD is that of property investment. As at the date of incorporation, the First Directors and First Subscribers of KSLMD were Khoo Cheng Hai @ Ku Cheng Hai, Ku Hwa Seng and Ku Tien Sek, the Directors and /or Major Shareholders of KSL respectively. 3. FINANCIAL EFFECTS The Acquisition of KSLMD is financed via internally generated funds of the Company and will not have any material effect on the earnings per share or net assets per share of the Group for the financial year ended 31 December 2013. 4. DIRECTORS’ AND/OR MAJOR SHAREHOLDERS’ INTERESTS None of the Directors and/or Major Shareholders of the Company and persons connected with such Directors and/or Major Shareholders have any interest, direct or indirect in the Acquisition. 5. STATEMENT BY DIRECTORS The Board of Directors of KSL is of the opinion that the Acquisition is in the best interest of KSL.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2013	31/12/2012	31/12/2013	31/12/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	122,237	126,241	688,156	402,870
2	Profit/(loss) before tax	4,483	47,672	246,918	173,018
3	Profit/(loss) for the period	-10,542	35,179	172,394	127,807
4	Profit/(loss) attributable to ordinary equity holders of the parent	-10,542	35,179	172,394	127,807
5	Basic earnings/(loss) per share (Subunit)	-2.73	9.10	44.61	33.08
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 ($$)	3.3100		2.8700

icy97

业绩拖累　顺利及凭单双双大跌

财经 2014年2月27日
（吉隆坡27日讯）隨著顺利实业（KSL，5038，主板產业股）2013財政年末季（截至去年12月31日止）由盈转亏，导致该公司股价和凭单在今天应声下跌，双双躋入全场5大下跌股榜单。       

丰隆投行分析员指出，受合理价调整和高拨备拖累，顺利实业2013財政年末季由盈转亏，蒙受1054万令吉亏损，比较前年同期的3517万令吉净利；营业额则从1亿2624万令吉，按年缩减3.17%，至1亿2223万令吉。

2013財政年全年表现而言，该公司净利按年成长34.89%，至1亿7239万令吉，前年同期为1亿2780万令吉；营业额按年增加70.81%，至6亿8815万令吉，前年同期为4亿零287万令吉。

分析员表示，该公司全年业绩表现大致上符合预期。儘管如此，该公司的母股和凭单於周四遭受卖压，双双大跌。

顺利实业周四跳空开低，以2.18令吉开盘，迅速跌至全天最低的2.05令吉。

隨后，该股收窄跌幅，並一度触及全天最高的2.23令吉，最终以2.13令吉收场。该股全天跌29仙或12%，位居下跌榜亚军；其凭单--顺利实业-WA则全天跌26仙或20%，成为下跌榜第5名。

顺利实业2013財政年末季由盈转亏，主要是因为调整投资房產的合理价后所带来的940万令吉亏损，加上针对递延產业盈利税（RPGT）做出约1300万令吉的拨备。

另外，分析员指出，若按季比较，2013財政年末季的营业额也受到高基数效应影响，而显得疲弱。

2013財政年末季的营业额从第3季的2亿1700万令吉，下跌44%，至1亿2223万令吉。而2013財政年第3季的强劲营业额，则是因为新山和巴生地区的项目取得更高的认购率，加上经营酒店和商场的收入。

3正面因素

分析员看好顺利实业的正面因素包括，（一）该公司为伊斯干达区发展计划的受惠者之一；（二）巴生谷扩建；以及（三）经常性投资收入的成长。

然而，他亦表示，整体產业领域料將走弱，加上该公司的未来盈利高度依赖巴生城镇发展计划（Bandar Bestari），所以这些都是潜在的风险。

分析员维持顺利实业「守住」评级，目標价格为2.04令吉。

不过，该分析员表示，不再追踪顺利实业，因为在过去数年都难以与该公司管理层取得联繫，以深入了解该公司的发展，这让分析员难以对该公司的盈利做出深具意义的预测，所以选择放弃追踪该股。【东方网财经】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/03/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2014	31/03/2013	31/03/2014	31/03/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	207,918	134,095	207,918	134,095
2	Profit/(loss) before tax	80,369	62,585	80,369	62,585
3	Profit/(loss) for the period	61,034	47,857	61,034	47,857
4	Profit/(loss) attributable to ordinary equity holders of the parent	61,034	47,857	61,034	47,857
5	Basic earnings/(loss) per share (Subunit)	15.80	12.39	15.80	12.39
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 ($$)	3.4900		3.3400

朝阳的阳光

这2天涨得很高哦

kongsenger

A)TOP TEN 2014 DEVELOPERS - MALAYSIA

The BCI Asia Top 10 Awards provides an overview of the regional building and construction industry by recognizing the top architectural firms and developers that had the greatest impact on the built environment in Southeast Asia.
KSL Holdings Bhd
Address : Wisma KSL, 148, Batu 1 1/2, Jalan Buloh Kasap, 85000 Segamat, Johore 85000
Website : http://ksl.my/
Projects Image:
     
                 Recent Projects :
1) BINTANG-BINTANG DEVELOPMENT:HOUSE IN LABIS(LOT794)
2) TAMAN MAKMUR 2:TERRACE HOUSE
3) TAMAN MENGKIBOLHASE 2 (PARCEL B)
4) D'INSPIRE RESIDENCE@ NUSA BESTARI
http://www.bcitop10.com/index.cf ... yid=4&year=2014

B)戰勝2014投資篇‧投資攻略
2014-01-02 16:53      
不管從哪個角度來看，2014年，都極有可能是自2008年次貸風暴以來，全球經濟首次能擺脫寬鬆貨幣政策杖助，開始嘗試獨立穩站雙腳的一年。
然而，貨幣政策逐漸轉緊，卻也同時點燃全球資金流憂慮，市場擔心國際游資未來大幅撤離東南亞市場，或導致資產價格嚴重回調，尤其是股市，於是在經濟明顯起色之際，許多人依然對“投資”保持疑惑，不曉得要如何下手，方能戰勝百物漲價壓力，在2014年逆境求勝。
配合新的一年，《星洲財經》將帶各位穿梭馬股，蒐集2014年大趨勢下的潛在受惠股，建立一個潛能滿溢的投資組合，力求戰勝通膨！戰勝2014年！！
產業、金融、零售、種植、建築、油氣、科技……那麼多領域，那麼多不同股項，投資者究竟要如何選擇，才能“坐和望贏”呢？
其實若全球經濟確實好轉，所有領域都可望從中受惠，惟若將“精益求精”視作投資價值觀時，就絕不能馬馬虎虎，聽人說甚麼好就跟買甚麼，而是須仔細從眾多好股中，再精心挑選出“好股中的好股”，才有可能掌握領先其他投資者的華麗回酬。
畢竟，好股是好，可其當前股價和估值卻未必提供很好的回酬機會；現有股價和估值誘人，業務和盈利展望卻未必是這麼回事；業務和盈利展望都好，股價卻又可能因流通量問題而“百年不動”；而那些流通量異常活躍的，卻大多是欠缺業務和基本面的炒作股。
所謂便宜沒好貨，好貨不便宜就是這麼回事。
然而，這不意味所有股項均是“有一好沒兩好”，因許多時候，股價表現的關鍵因素，並不是由股票本身，而是由市場投資情緒決定，這種訂價行為常會導致一些股價因市場情緒欠佳，而長期無法反映股票內在價值，最後淪落成懷才不遇的“遺珠股”，為那些努力鑽研、且眼明手快的投資者提供豐富回酬機會。
經濟和市場條件不斷變化，將導致每個領域輪流經歷“消沉不振”與“十面風光”這樣兩極的時期，這是一種恆久不變的股市規律，投資者要能提早察覺那些即將由壞轉好的領域，並找出當中潛力股，就可望成為趨勢贏家，不必再眼睜睜羨慕那些意氣風發的股神或股鬼了。

順利實業
靜待伯樂的地產良駒
作為活躍於柔佛各地、包括二三線地區的產業股，順利實業（KSL,5038,主板產業組）不僅在產業發展多有建樹，還涉足酒店、購物商場等資產投資業務，加上近年財務條件迅速升級，是隻具備龐大隱藏價值、深被低估的股項。
該股目前以2013年約4倍本益比交易，遠低同儕的7至9倍，而旗下擁有大批在2002至2007年期間購置的廉價地皮，自柔佛地價近年暴漲中深深受惠，現有每股3令吉34仙資產值並無法反映實際價值。
以每年5%地價漲幅價保守估計，順利實業每股重估淨資產值至少達5令吉以上，且該公司截至今年首9個月已取得淨利1億8千萬令吉，或每股盈利47.34仙，大幅超越市場全年1億5千600萬至1億7千600萬淨利預期，回酬風險比非常誘人。
http://biz.sinchew.com.my/node/87975

C)《福布斯亚洲》10亿美元200强 14马企入榜产业股领跑
财经新闻 财经  2014-07-25 12:03


（吉隆坡24日讯）福布斯亚洲（Forbes Asia）今日公布2014年“营业额10亿美元以下200强企业”（Best Under A Billion），大马企业共有14家上榜，其中三成五来自产业领域，更有半数是上市不超过3年的新股。
福布斯亚洲在亚洲1万7000家公司，依据过去12个月和3年的销售、盈利增长和回酬率，遴选出200家年营收约500万至10亿美元（1584万至32亿令吉）、有净利，且有上市的企业。
恒大置地蝉联
去年大马有12家企业入榜，今年数量增多两家，而槟城产业发展商恒大置地（TAMBUN，5191，主板产业股）也再度蝉联，稳坐榜中。
产业不愧是我国热门领域之一，除了恒大置地，还有另4家发展商挤入榜中，为产业界争光。
这包括顺利实业（KSL，5038，主板产业股）、置地通用（L&G，3174，主板产业股）、金群利集团（MATRIX，5236，主板产业股）和建乐（SNTORIA，5213，主板产业股）。

7新秀脱颖而出
有趣的是，本年度榜中不乏“后浪新秀”，有7家是在2011年或之后才上市，表现相当不俗，金群利集团和Tune保险（TUNEINS，5230，主板金融股），更是去年才投入马股怀抱。
而已有78年历史的“老牌”乔治肯特（GKENT，3204，主板贸服股），也获福布斯亚洲特别点名，主要生产水表和不锈有色金属闸门，产品范围几乎覆盖全马。
在14家上榜企业中，达洋企业（DAYANG，5141，主板贸服股）规模最大，市值高达14亿6400万美元（46亿3650万令吉），也是我国唯一入榜的油气公司。
当中，在上财年录得最高净利的是时光网络（TIMECOM，5031，主板基建股），净赚2亿400万美元（6亿4607万令吉），市值8亿2800万美元（26亿2228万令吉），为第二高。
http://www.nanyang.com/node/637534?tid=462

kongsenger

kongsenger 发表于 6-8-2014 05:50 PM
A)TOP TEN 2014 DEVELOPERS - MALAYSIA

The BCI Asia Top 10 Awards provides an overview of th ...

分享网友benjamin之文章--
KSL is expected to make RECORD profit in 2Q14 due to the completion of Phase 1 (GDV RM 386mn) at Canary Garden, Klang in June this year. Phase 2 of the RM 5 billion project is in progress, which includes commercial properties. Also, several projects in Iskandar region are in-progress, such as D'Inspire Residence (http://ksl.my/dinspire/progress.php), and township development at Nusa Bestari, Nusajaya (http://www.ksl.my/bestariheights/site/master.php) and Kempas Indah (http://www.ksl.my/kempasindah/site/psp.php).

New developments expected to kick off in 2H2014 include D'secret garden (http://ksl.my/dsecretgarden/) KSL Residences@daya (http://www.kslresidences.com/images-gallery-ksl-residences/)and 18 Madge(GDV RM 200mn) near KLCC (http://18madge.com/). KSL also build affordable houses at smaller towns of Muar, Kluang, Segamat and Labis.

With second quarter EPS expected at a record high of 19.6sen (+15% y-o-y), first half 2014 EPS comes to 35sen. Annualised EPS is 70sen. At current price of 2.44, KSL is selling at a very low PE of 3.5x. Ascribing a PE ratio of 7-8 times for midcap property player, the fair value of KSL is RM 4.90 to RM 5.60. Given that it is selling at >50% discount, KSL is a no brainer investment for Graham or Buffett-like investors.
http://klse.i3investor.com/blogs/benjamin/

kongsenger

Here Are The 10 Malaysian Firms That Made Forbes’ Best Under A Billion
SHARON TANG FINANCE         AUG. 6, 2014, 6:00 PM
http://www.businessinsider.my/here-are-the-10-malaysian-firms-that-made-forbes-best-under-a-billion/#.U-RZmfmSzMI

Ten Malaysian companies made it to Forbes’ annual Best Under A Billion list this year, which highlights firms based in the Asia-Pacific that are consistent performers and make under US$1 billion in sales.

Investment holding companies KSL, Time dotCom and Tune Ins were among the firms that made the cut after Forbes screened 17,000 publicly traded companies in the region.

The resulting 200, the business magazine said, are un-ranked and “represent the top 1.1% of the SME sector in the region”.

Take a look at the 10 Malaysian companies that made it; we’ve listed them in order of sales volume.

icy97

Notice of Person Ceasing (29C)

KSL HOLDINGS BERHAD

Particulars of substantial Securities Holder

Name	Lembaga Tabung Haji
Address	201, Jalan Tun Razak Peti Surat 11025 50732 Kuala Lumpur
NRIC/Passport No/Company No.	ACT5351995
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary Shares of RM0.50 each
Date of cessation	24/07/2014
Name & address of registered holder	Lembaga Tabung Haji 201, Jalan Tun Razak Peti Surat 11025 50732 Kuala Lumpur Maybank Asset Management Sdn. Bhd. Level 12, Tower C, Dataran Maybank No. 1, Jalan Maarof 59000 Kuala Lumpur
Currency	Malaysian Ringgit (MYR)
Number of securities disposed	1,000,000
Price Transacted ($$)	2.799
Circumstances by reason of which a person ceases to be a substantial securities Holder	Disposal of Shares in Open Market
Nature of interest	Direct Interest
Date of notice	05/08/2014

kongsenger

icy97 发表于 12-8-2014 03:28 AM
Notice of Person Ceasing (29C)
Particulars of substantial Securities Holder

KSL 顺利实业 5038 Rm 3.70 机会进场--
Published: Saturday August 16, 2014 MYT 12:00:00 AM
Updated: Saturday August 16, 2014 MYT 7:04:53 AM
KSL strategy pays off

BY LIZ LEE

KSL Holdings Bhd's main rental income contribution comes from KSL City, the integrated development in Johor Bahru city centre comprising a mall, a five-star hotel and two blocks of serviced apartments.


SPEAK of the Johor property market and it brings to mind the myriad players, foreign and local, who are riding on the Iskandar Malaysia masterplan.

For KSL Holdings Bhd, where Johor has always been its playground, the secret to its well-run business is in knowing what the locals want and sticking to areas its knows how to extract the best returns from.

To reflect that, KSL has shown a strong set of financial figures in the past three years as its projects in Johor Bahru and Klang took off.

Providing that significant boost to the numbers was also its rental income from its KSL City integrated development just 10 minutes away from the Johor Bahru Customs, Immigration and Quarantine Complex.

The group also has rental income from two properties leased to grocery chain, Giant in Muar and Nusa Bestari.

In its 2013 financial results, KSL recorded earnings of RM172.4mil, 35% higher than a year ago. Its revenue for the year was RM688.2mil. Of that, RM135mil was from rental while RM551mil came from property sales.

For 2014, its first quarter ended March 31 continued its upward momentum, recording RM61.03mil in net profits, 27.5% higher than the corresponding period a year back.

Revenue more than doubled to RM207.92mil.

Executive chairman Ku Hwa Seng believed that the second quarter results would be good as well, and the outlook for the second half of the year positive.

Contradictorily, the group has not been generous on its dividend payout in the past three years.

Ku admits that the group has not rewarded its shareholders although prior to 2011, the group had consistently distributed dividends.

“We have been investing a lot into our business. Therefore, we have held back our dividend distribution since 2011,” Ku says.

The executive chairman says he intends to bring up a dividend reinvestment plan in the next board meeting, taking heed from a suggestion given by a shareholder in its annual general meeting in June.

“Nothing has been discussed yet but the idea is to partly give out shares as dividend,” he says.

At the moment, KSL has several ongoing high-rise and landed property projects in Johor Bahru. Ku notes that the projects are overall 70% taken up, to which a property market observer says is a good rate against the backdrop of the current property market.

“Most developers need at least 50% take-up rate to break even. Do note that KSL has low land cost in addition to the reasonably good take-up rate,” the market observer points out.

To date, the group has an unbilled sales of just over RM1bil. Its sales target for the year is RM1bil as well and Ku says the group has achieved almost 75% of that year-to-date.

KSL’s remaining gross development value (GDV) is estimated to be RM4bil to RM5bil.

A banker familiar with property deals highlights that the Johor property market is very sentiment-driven. While the Malaysian property sector has softened this year, KSL’s financials suggests that it could weather the slowdown comfortably, the banker says.

“Looking at its segmentised earnings, KSL has an estimated profit after tax margin of 28% to 29% from its property development business.

“That is among the highest margins in public listed property developers and I think that can last the group another six to seven quarters. By then, the Johor property market could be buoyed again by any newsflow on the High Speed Rail,” the banker foresees, assuming KSL does not embark on aggressive landbanking.

The source adds that KSL would appear to be a good alternative to UEM Sunrise Bhd, especially for investors who want exposure in the Johor property market but believe that the principal developer of Iskandar Malaysia is already overexposed among investors.

KSL’s share price has been on the uptrend in the past several weeks. It closed eight sen higher at RM3.70 yesterday, making a year-to-date return of 68%.

A source says that funds have been taking note of the undervalued counter; among those who were said to be interested were Permodalan Nasional Bhd, Pelaburan Mara Bhd and some insurance firms.

KSL has a market capitalisation of RM1.4bil and is trading on a current price-to-earnings of 7.54 times.

Homeground advantage

Ku agrees that the Johor property sector has seen a lot of newcomers in the past few years but while competition is tough, KSL has been able to beat that with its advantage as a Johor-grown property group.

“Yes, there have been many new players in the market like the China developers and those from Kuala Lumpur but most of them are at the seaside or waterfront, which are better locations. But this means they are out of the conventional development areas, which is where we have always been operating,” Ku compares.

Another of KSL’s winning point is its low land cost from as far back as the early 2000s, before Johor was marketed as Iskandar Malaysia.

Ku, one of the three sons at the helm of the business started by his father, shares with StarBizWeek that the cost for the group’s land bank accumulated in and around Johor Bahru over 10 years ago were between RM3 to RM6.50 per sq ft.

“The later ones are a far cry from the prices we could get back then. Our latest purchase of a small piece of land in Kangkar Tebrau was RM150 per sq ft,” he notes, adding that this was adjacent to KSL’s land which transacted at RM8 per sq ft 10 years ago.

Today, land prices in coveted areas within the Iskandar Malaysia development blueprint could cost as high as RM1,000 per sq ft.

Aside from locking in the low land cost, Ku says KSL’s products are targeted at a slightly different market, mostly of Johoreans and Singaporeans. Many of the latest developments in the Iskandar Malaysia region are priced beyond RM1mil.

“Not many commonfolk are actually able to afford property units priced above RM1mil,” he notes realistically. “Although we are moving towards building more high-end residentials, we have kept our high-rise prices affordable at a range of RM500,000 to RM700,000.”

Although Iskandar Malaysia has attracted a number of competitors, KSL has also benefitted from the attention on its homeground. For one, it has pushed Johor’s property market onto the portfolios of many foreign investors from Singapore as well as China, Hong Kong and Taiwan.

Foreign buyers make up nearly 20% of KSL’s total purchasers and the bulk of that comes from across the Causeway. Though most buy to invest, a fraction of KSL’s Singaporean customers are homebuyers who prefer to live in Johor Bahru and commuting to Singapore for work.

On the recent Causeway toll hike, Ku believes it will not dampen the sentiment for Johor properties among Singaporeans as the city-state dwellers loved to travel out.

“There is a kneejerk pull-back as the market adjusts to the new toll rates but (the Singaporeans) will return. They visit Johor because they can escape the crowd in Singapore. From here they can travel up north to Malacca, Kuala Lumpur and even Thailand,” he says, brushing off the notion like a housefly.

As at December 31, 2013, the group’s land bank spans 2,100 acres held for current and future development strategically located in Johor Bahru, Batu Pahat, Kluang, Segamat, Muar, Mersing, Klang and Kuala Lumpur.

Ku says the group is not actively looking to replenish land bank in areas it is not already in.

In its 2013 annual report, KSL says most of these properties will help sustain the group’s medium to long-term development and profitability. The properties are available for immediate development as they have been granted approval for sub-division.

For the rest of 2014, it aims to launch three new projects including the low-density serviced apartment, 18 Madge in Kuala Lumpur city centre, and continues with its repeat launches for ongoing projects.

Going forward, the group plans to build more high-rise residentials as “the trend is that now, that is what the market wants”. 文章取自;http://www.thestar.com.my/Busine ... eas-its-knows-best/
ksl 土地与股东情况---
巴生土地是2007年购买,新山部分土地是2002年购买
,早己增值,现在是严重低估了,
公司大股东相关人己持有51.09%,而30大股东持有79.51%,
主要是机构投资者,市场流量約78000張,个人觉着ksl是支
很棒的成长股,从持有人紧握着就可看到,未来丰衣足食.

icy97

KSL HOLDINGS BERHAD

Type	Announcement
Subject	OTHERS
Description	KSL HOLDINGS BERHAD ("KSL" OR "THE COMPANY") - ACQUISITION OF SUBSIDIARY
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of KSL is pleased to announce that KSL has on 18 August 2014 acquired two (2) ordinary shares of RM1.00 each in VIP Beyond Sdn Bhd, representing 100% of the total issued and paid-up share capital of VIP Beyond Sdn Bhd (“Acquisition”) from Cik Fatimah Binti Sulaiman (1 ordinary share) and Cik Shairah Begum Binti Kadar Bashah (1 ordinary share) for a total consideration of RM2.00. Following the Acquisition, VIP Beyond Sdn Bhd became a wholly-owned subsidiary of KSL. VIP Beyond Sdn Bhd was incorporated in Malaysia on 21 July 2014 and the current issued and paid-up share capital of VIP Beyond Sdn Bhd is RM2.00 divided into two (2) ordinary shares of RM1.00 each. VIP Beyond Sdn Bhd has not commenced business since its incorporation. The intended principal activity of VIP Beyond Sdn Bhd is property development. None of the Directors and/or major shareholders and/or persons connected with them have any interest, direct or indirect, in the Acquisition. The above Acquisition does not have any material effect on the issued and paid-up share capital of KSL and has no material effect on the earnings and net assets of KSL Group for the financial year ending 31 December 2014. This announcement is dated 18 August 2014.

kongsenger

KSL Holdings Bhd - Back In Our “Sights”
Date: 21/08/2014

Price Target         :         6.63         

Back in our "sights". KSL has been relatively quiet in terms of media and analysts’ coverage over the last two years even during the Iskandar Malaysia buzz when KSL was chalking up FY11-13 core earnings CAGR of 52%. Of late, the company has begun to open up to the market with an article published in The Star titled “KSL strategy pays off” dated 16/8/14.

Owner of c. 2100ac landbank, of which 78% is located in Johor while the balance is mostly in Klang. Their landbanks are mainly township in nature i.e. landed residential. KSL managed to secure a lot of approvals for high-rise developments (min. of 4x plot ratio) prior the imposition of new floor prices for foreign buyers of RM1m/unit. The group has shifted towards this strategy amidst a challenging Johor landscape as they are still targeting young/local buyers with units being priced between RM500-700k/unit. They also enjoy historically low land cost, which enables pricing flexibility or better margins.

Severely undervalued at 27x GDV/mkt cap ratio. We estimate that KSL’s total GDV could amount to c. RM40b and this implies GDV/market cap ratio of 27x, which highlights its gross undervaluation compared to peer’s 10-11x. Its war chest can provide up to 17 years’ visibility, which is significantly higher than typical developers’ visibility of 7-10 years.

Investment properties severely undervalued by more than RM1b. KSL City Mall and other investment properties (Giant@nusa Bestari, Giant@Muar, KSL Resort) have done well, reporting segmental operating profits of RM107m in FY13 or a 2-year CAGR of 85%, which is a mismatch to its net book value of RM433m. The biggest driver is KSL City Mall and we gather that occupancy is healthy at >90%. Assuming a very conservative 7% cap rate on FY14E segment EBIT, their investment properties should be worth RM1.79b! We believe the group will eventually consider REIT-ing its investment properties once it reaches a critical size. The group has a very light balance sheet of 0.07x which will help fuel their recurring income ambitions.

Very attractive vis-à-vis peers. We estimate FY14-15E core earnings of RM301m-RM376m (62%-25% YoY) on the back of record high unbilled sales of RM1b, FY14-15E property sales of RM1.3b-RM1.6b (30%-23% YoY) and 15% YoY growth p.a. in investment property income. KSL will be trading at FY14-15E core PER of 5.0x-4.0x which is attractive against its mid-cap peer average of 9.0x-8.1x. We would also like to point out that (i) KSL’s earnings growth is also stronger than its peers, (ii) developers that deliver more than RM300m core earnings annually are typically large cap developers with a minimum market cap of RM3b.

More goodies to come? After a 3-year lull without dividend, we reckon that KSL may consider rewarding shareholders since they are opening up to investors. Assuming a conservative 20% pay-out, this translates to FY14-15E DPS of 15.6-19.5 sen or yield of 4.0%-5.0% which is comparable to its peers. Furthermore, the group has RM1.1b of distributable reserves which is more than sufficient to provide investors with 2-3 rounds of 1-for-1 bonus issuance. We believe the group may look into such options to reward shareholders, while improving the liquidity of their share base, which only consists of 386m shares.

FV of RM6.63 based on 50% discount to our FD RNAV of RM13.26. Our RNAV is driven by DCF of future development profits (RM40b GDV @ 20% net margin) at 11% WACC. We have also re-valued its investment properties based on the assumptions above. The applied RNAV discount is steeper than our average 30% applied under our coverage; this is to take into account the possibility of market’s cautious perception of Johor. Our FV implies FY14-15E core PER of 8.5x-6.8x which is still cheaper than its mid-cap peer averages. Trading BUY.

Source: Kenanga

振兴人心，tp=Rm6.63  ,趁机进场rm3.78 ,爆发前先调整与巩固,哈哈,真是守得云开见明月
  

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2014	30/06/2013	30/06/2014	30/06/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	220,092	215,025	428,010	349,120
2	Profit/(loss) before tax	103,773	87,815	184,142	150,400
3	Profit/(loss) for the period	79,198	66,683	140,232	114,540
4	Profit/(loss) attributable to ordinary equity holders of the parent	79,198	66,683	140,232	114,540
5	Basic earnings/(loss) per share (Subunit)	20.50	17.26	36.29	29.64
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 ($$)	3.7000		3.3400