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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Why would Kazanah buy 28% of Ceylinco Insurance (CINS)?

Why would Kazanah buy 28% of Ceylinco Insurance (CINS)?

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Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Who's stake are they buying??

Why would Kazanah buy 28% of Ceylinco Insurance (CINS)? Screen10

Khazanah Nasional Berhad is the Government of Malaysia's strategic investment fund. As trustees to the nation's commercial assets, our role is to promote economic growth and make strategic investments on behalf of the Government which would contribute towards nation-building.

Khazanah is also tasked to nurture the development of selected strategic industries in Malaysia with the aim of pursuing the nation's long-term economic interests.

Khazanah has investments in over 50 major companies, both in Malaysia and abroad, and our companies are involved in a broad spectrum of industries.

Khazanah is also the key agency mandated to drive shareholder value creation, efficiency gains and enhance corporate governance in companies controlled by the government, commonly known as Government-Linked Companies, or GLCs.



Last edited by GMNet on Tue Apr 09, 2013 3:35 pm; edited 1 time in total

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Now your talking! Are you a 100% sure of this.

When the NV was on, a Malaysian entity wanted to acquire the entire stake but LK rejected the offer. The offer was under-subscribed

Suba was one of the lesser known individuals who I was referring to in the post about Theagarajah being appointed to the NDB board. A common stockbroker rumour has it that he owes a load to SAMP. Rumour remember Rumour. May not be correct!!!!




Last edited by rainmaker on Tue Apr 09, 2013 3:05 pm; edited 1 time in total (Reason for editing : Not really needed)

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
GMNet wrote:Who's stake are they buying??

I guess only Warren Buffet sorry Barren Wuffett would know that Wink Wink

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@The Alchemist wrote:
GMNet wrote:Who's stake are they buying??

I guess only Warren Buffet sorry Barren Wuffett would know that Wink Wink

lol! But this guy has some talent. I wouldn't be surprised if the sale goes ahead as this stake has been on the market for some time.

BTW in the topic of Warren Buffet others may be interested in reading about HWIC - Hamblic Watsa Investment Counsel the Indian blokes who bought a stake in NTB

-------------

Prem Watsa's professional career began in 1974 when he joined Confederation Life Insurance Co. in Toronto, where he quickly moved from his position as an investment and research analyst to one of a stock portfolio manager for pension clients. His first boss at Confed, John Watson, handed him Benjamin Graham's The Intelligent Investor, the classic book of value investing. Watsa was a Vice President of Confederation Life Investment Counsel from 1974 to 1983.

In 1983, with almost ten years of experience under his belt, Watsa signed on with GW Asset Management (Gardiner Watson), a start-up asset management firm in Toronto. He served as Vice President of GW Asset Management from 1983 to 1984. At Gardiner Watson, Watsa met the talented Francis Chou in 1984.

Chou was also born in India and immigrated to Canada in 1976 with only $200 in his pocket. Success and a tidy personal fortune have come to Francis Chou through a remarkable Forrest Gump (character) type of odyssey. Initially, Francis worked as a telephone repair man and technician for seven years at Bell Canada. In the late 1970s, Chou became interested, as a hobby, in investing and discovered Ben Graham and his book Security Analysis, as well as the methodology of Warren Buffett. In July 1981, Francis Chou, who had only his a high school diploma under his belt, set up an investment club with seven co-workers and $51,000 in capital. By 1986, it had grown to about $1.7 million when the original investment club was converted to a mutual fund, Chou Associates. Chou left Bell Canada in 1984 and became a retail analyst at GW Asset Management (after 18 months at GW, Chou joined Prem Watsa at Fairfax Financial as one of its original investors).

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@The Alchemist wrote:
GMNet wrote:Who's stake are they buying??

I guess only Warren Buffet sorry Barren Wuffett would know that Wink Wink

You hit the nail.

raptor


Manager - Equity Analytics
Manager - Equity Analytics
Sorry but how do you know that Kazanah is buying this stake?

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Broker huts usually disclose these type of news, its normal in Sri Lanka.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Redbulls wrote:Broker huts usually disclose these type of news, its normal in Sri Lanka.

True. I just googled Kazanah to check. Kaz has committed to buy an insurer in Malaysia and is bidding on a bank in Thai.

But there were strong dollar inflows yesterday. For a deal this big cash will need to be paid upfront - no bank will take the settlement risk.

They could put the JKH stake on lien though Wink

Anyway nobody really knows - perhaps GMNet needs to log off and ask Buffet Warren to log in Very Happy

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@rainmaker wrote:
@Redbulls wrote:Broker huts usually disclose these type of news, its normal in Sri Lanka.

True. I just googled Kazanah to check. Kaz has committed to buy an insurer in Malaysia and is bidding on a bank in Thai.

But there were strong dollar inflows yesterday. For a deal this big cash will need to be paid upfront - no bank will take the settlement risk.

They could put the JKH stake on lien though Wink

Anyway nobody really knows - perhaps GMNet needs to log off and ask Buffet Warren to log in Very Happy

They can use their office computers in the same time mate.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Hmm,

Speaking of Share holders xxx undervalued company trading at CSE holds considerable amount of CINS.

So right now CINS investment has about Rs 8 capital gain per share. But they will not sell their stake possibly.

Also for each Rs 100 CINS goes up xxx investment value goes by about Rs 1.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock that cross hold is very important to both company's future. That's what I think. Maybe wrong though.

BTW has anyone noticed that Ceylinco Holdings has been renamed to Castle Realty. I just checked the past annual reports from 2010, 2011 and it seems ceylinco insurance owns that firm.... has anyone noticed this in the past.

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