G. K. Goh Holdings

I think the market likes the move. Not sure how much profit though.

(06-09-2011, 11:49 PM)VestedInterest Wrote: I concede that it has not been that good in deploying its cash in the past but what I am actually implying is that it may not be as bad an investor as you make it out to be. A bad one would be Auric Pacific or Osim (2 years back). In any case, I would not complain too much if the coy is sitting on a huge cash pile, especially in this kind of market. Opportunities will arise and I am sure GK Goh will be in an enviable position this time around with all the cash. Of course, I'd be happy if they distribute some of the cash as well.
The E & O transaction- there is a greater fool in this one. And I don't think it is GK Goh. Have to give them some credit. They could have bought any of the nearly 20 (I think) listed developers in Malaysia but chose this Penang-based one.

I did a rough calculation. After the completion of sale of E&O, GK goh will be sitting on around 60 cents worth of cash without debt. Net asset will be around $1.20. I have excluded the money due to their Futures business's clients.
I suspect they will declare a huge dividend soon. They did that when they disposed GK Goh stock broking years ago.......

Who knows the Goh family may even do a de-listing offer.....Just a guess

(27-09-2011, 09:14 AM)camelking Wrote:

(06-09-2011, 11:49 PM)VestedInterest Wrote: I concede that it has not been that good in deploying its cash in the past but what I am actually implying is that it may not be as bad an investor as you make it out to be. A bad one would be Auric Pacific or Osim (2 years back). In any case, I would not complain too much if the coy is sitting on a huge cash pile, especially in this kind of market. Opportunities will arise and I am sure GK Goh will be in an enviable position this time around with all the cash. Of course, I'd be happy if they distribute some of the cash as well.
The E & O transaction- there is a greater fool in this one. And I don't think it is GK Goh. Have to give them some credit. They could have bought any of the nearly 20 (I think) listed developers in Malaysia but chose this Penang-based one.

I did a rough calculation. After the completion of sale of E&O, GK goh will be sitting on around 60 cents worth of cash without debt. Net asset will be around $1.20. I have excluded the money due to their Futures business's clients.
I suspect they will declare a huge dividend soon. They did that when they disposed GK Goh stock broking years ago.......

Who knows the Goh family may even do a de-listing offer.....Just a guess

part of its debt should be no problem, since they already sold their investment properties which is the reason of that part of the debt. and they did mention they will repay their debt if i am not wrong.

but still 60 cents of cash?

187 mil - 142 mil (current liability) + 100 mil (cash receivable from E & O) = 145 mil

145 / 317 mil = 45 - 46 cents only.

(27-09-2011, 09:48 AM)freedom Wrote:

(27-09-2011, 09:14 AM)camelking Wrote:

(06-09-2011, 11:49 PM)VestedInterest Wrote: I concede that it has not been that good in deploying its cash in the past but what I am actually implying is that it may not be as bad an investor as you make it out to be. A bad one would be Auric Pacific or Osim (2 years back). In any case, I would not complain too much if the coy is sitting on a huge cash pile, especially in this kind of market. Opportunities will arise and I am sure GK Goh will be in an enviable position this time around with all the cash. Of course, I'd be happy if they distribute some of the cash as well.
The E & O transaction- there is a greater fool in this one. And I don't think it is GK Goh. Have to give them some credit. They could have bought any of the nearly 20 (I think) listed developers in Malaysia but chose this Penang-based one.

I did a rough calculation. After the completion of sale of E&O, GK goh will be sitting on around 60 cents worth of cash without debt. Net asset will be around $1.20. I have excluded the money due to their Futures business's clients.
I suspect they will declare a huge dividend soon. They did that when they disposed GK Goh stock broking years ago.......

Who knows the Goh family may even do a de-listing offer.....Just a guess

part of its debt should be no problem, since they already sold their investment properties which is the reason of that part of the debt. and they did mention they will repay their debt if i am not wrong.

but still 60 cents of cash?

187 mil - 142 mil (current liability) + 100 mil (cash receivable from E & O) = 145 mil

145 / 317 mil = 45 - 46 cents only.

no, i didn't use the current liability. I used the amount due to clients which is stated in cashflow statement.

From the sale of property at Tanjong Pager, the cash portion will be around 66.5cents

Goh Yew Lin bought back 167,000 shares at 0.696

(27-09-2011, 10:21 AM)camelking Wrote:

(27-09-2011, 09:48 AM)freedom Wrote:

(27-09-2011, 09:14 AM)camelking Wrote:

(06-09-2011, 11:49 PM)VestedInterest Wrote: I concede that it has not been that good in deploying its cash in the past but what I am actually implying is that it may not be as bad an investor as you make it out to be. A bad one would be Auric Pacific or Osim (2 years back). In any case, I would not complain too much if the coy is sitting on a huge cash pile, especially in this kind of market. Opportunities will arise and I am sure GK Goh will be in an enviable position this time around with all the cash. Of course, I'd be happy if they distribute some of the cash as well.
The E & O transaction- there is a greater fool in this one. And I don't think it is GK Goh. Have to give them some credit. They could have bought any of the nearly 20 (I think) listed developers in Malaysia but chose this Penang-based one.

I did a rough calculation. After the completion of sale of E&O, GK goh will be sitting on around 60 cents worth of cash without debt. Net asset will be around $1.20. I have excluded the money due to their Futures business's clients.
I suspect they will declare a huge dividend soon. They did that when they disposed GK Goh stock broking years ago.......

Who knows the Goh family may even do a de-listing offer.....Just a guess

part of its debt should be no problem, since they already sold their investment properties which is the reason of that part of the debt. and they did mention they will repay their debt if i am not wrong.

but still 60 cents of cash?

187 mil - 142 mil (current liability) + 100 mil (cash receivable from E & O) = 145 mil

145 / 317 mil = 45 - 46 cents only.

no, i didn't use the current liability. I used the amount due to clients which is stated in cashflow statement.

From the sale of property at Tanjong Pager, the cash portion will be around 66.5cents

GK Goh declared 6 cents dividend....plus the 2 cents declared for interim..that will be 8 cents....

It pays to read announcement....

no matter how you read it, its current liability likely requires its cash to settle in a way or another. Its current liability might not be cash & cash equivalent segregated under SGX-DT Rules, but they are owed by G K Goh to its customers,and probably to be settled in cash. it would be much safer to deduct all its current liability from its cash to derive its net cash position.

extract from its Q4 2010 financial announcement and annual report 2010.

Quote:Cash and bank balances of the Group include fixed deposits of $28,752,000 (2009: $30,472,000) and other cash and bank balances of $21,596,000 (2009: $5,531,000) of a subsidiary company which are segregated under SGX-DT Rules and
represent funds deposited by customers and accruing to customers as a result of trades or contracts in SGX-DT.

Quote:20. Trade creditors
Amounts segregated for customers 78,090 24,580
Amounts due to forex and clearing brokers 8,698 254
Amounts due to securities brokers 675 −
Others − 4
87,463 24,838

Amounts segregated for customers
The amounts bear interest at market rates and are repayable upon demand.
Amounts due to forex and clearing brokers
The amounts are not interest bearing and are settled within 3 days.
Amounts due to securities brokers
The payables are not interest-bearing and are settled within 3 days.

although from its cash flow statement only around 50 million is cash segregated under SGX-DT Rules and representing funds deposited by customers and accruing to customers as a result of trades or contracts in SGX-DT, all its liability probably requires cash to settle in a short period.

G.K. Goh will be booking in a profit of approx. $7.5m in Q1 (ending 31Mar12) from the just completed sale of its effective approx. 19.84% beneficial interest in Dormitory Investments Pte Ltd and the Tuas Dormitory asset held under approx. 31%-owned associated company, Value Monetization Ltd (a private equity fund)......
http://info.sgx.com/webcorannc.nsf/Annou...endocument

My calculations show the Tuas Dormitory has been a superb investment for G.K. Goh and other investors in the private equity fund, and G.K.Goh appears to have invested only approx. $1.9m for its proportionate beneficial equity interest in the Tuas Dormitory asset and now realised a fantastic approx. $7.5m gain.

As further info, Centurion Corporation Ltd was the buyerof the Tuas Dormitory asset, and bought a combined 90% interest for a cool total $47.5m in 2 recent transactions.....
http://info.sgx.com/webcoranncatth.nsf/V...E003655E2/$file/Centurion-SPA-DIPL-240212.pdf?openelement [purchase of a 85% interest for $40.375m]
http://info.sgx.com/webcoranncatth.nsf/V...20043C8AC/$file/DIPL-KCB.pdf?openelement [purchase of an additional 5% interest for $7.125m]

I guess between G.K. Goh and Centurion Corp., it should very clear which counter serious and value-oriented investors will and should put their money.

(06-03-2012, 07:38 PM)dydx Wrote: G.K. Goh will be booking in a profit of approx. $7.5m in Q1 (ending 31Mar12) from the just completed sale of its effective approx. 19.84% beneficial interest in Dormitory Investments Pte Ltd and the Tuas Dormitory asset held under approx. 31%-owned associated company, Value Monetization Ltd (a private equity fund)......
http://info.sgx.com/webcorannc.nsf/Annou...endocument

My calculations show the Tuas Dormitory has been a superb investment for G.K. Goh and other investors in the private equity fund, and G.K.Goh appears to have invested only approx. $1.9m for its proportionate beneficial equity interest in the Tuas Dormitory asset and now realised a fantastic approx. $7.5m gain.

As further info, Centurion Corporation Ltd was the buyerof the Tuas Dormitory asset, and bought a combined 90% interest for a cool total $47.5m in 2 recent transactions.....
http://info.sgx.com/webcoranncatth.nsf/V...E003655E2/$file/Centurion-SPA-DIPL-240212.pdf?openelement [purchase of a 85% interest for $40.375m]
http://info.sgx.com/webcoranncatth.nsf/V...20043C8AC/$file/DIPL-KCB.pdf?openelement [purchase of an additional 5% interest for $7.125m]

I guess between G.K. Goh and Centurion Corp., it should very clear which counter serious and value-oriented investors will and should put their money.

Yeah, GK Goh is very shrewd in investment...They started as stockbroker anyway...
I hope the overall market will continue to plunge so that I can pick up some more lots..

no doubt, certain investment made by G K Goh was quite profitable, but there were good opportunities they let go too early, e.g. Tasek Corporation.

in March 2007, G K Goh bought 24.9 million of Tasek share @RM 3.4 for long term investment.

in Nov 2008, during GFC, G K Goh, sold its entire stake in Tasek to Hong Leong Asia @RM 3.8.

today, Tasek is traded in Bursa Malaysia above RM 8 (after 1.5 to 1 share consolidation), almost RM 6 (not including any dividend, there were significant dividend declared by Tasek over these years)


Comparatively, G K Goh has been holding on their loss-making euNetwork since 2007 til now.


I don't know what to say already.