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Overview
Financial Highlight
Headlines
Business Background Eksons Corp Bhd is a Malaysia based company involved in lumber and wood production business. The company's main operating segments are Timber and Property. Major revenue is earned by the company by exports of its timber product. The company exports its product mainly to Middle-East, Mexico, Korea, Taiwan.
  Sslee @TheContrarian, Any reason you buy into Ekson? Timber is still loss making. Property and investment holding 4.557 million is from unrealized gains from investment in securities. 31/10/2021 2:50 PM  TheContrarian @Sslee, the two major shareholders own collectively around 59% of the total shares, leaving only 41% free float. Privatisation via SCR or VGO is possible. The investment securities are substantially in overseas securities, believed to be Wall Street companies. 31/10/2021 7:43 PM Tipster Management all busy punting shares using shareholders monies. No wonder biz is shit n losing money at all fronts. Give us a good premium n take it private. U can eo whatever u wan then! 30/11/2021 10:38 PM  Michael Kwok Nta rm 2.40.Now 69cents.If have patient wait for 2-5 years.Recommend buy. 10/12/2021 4:18 PM Michael Kwok Buy Ekson 69-75 cents.Buy rm 5-10k each.If have patient like 2-5 years.Once economy recover big time it will at least double the price.Many country need specislize wood for constructioGovernment boost economy usually contruction of need it. 14/12/2021 12:19 PM TheContrarian @ Michael Kwok, buying to hold for 2-5 years is not a good investment strategy. 14/12/2021 6:18 PM Michael Kwok If early takeover ket say rm 1.20 or higher very rich.Some-more lumber up to over 1000. 16/12/2021 4:44 PM Michael Kwok Duh,many wood related goes to its previous high or near its NTA.Tq.Somemore this counter nta rm 2.40.Previous high over rm 1.People still sell. Posted by BigZakar > Dec 17, 2021 4:00 PM | Report Abuse one more self call genius.......... Questionking 50 posts Posted by Questionking > Jan 25, 2022 11:28 AM | Report Abuse Wat the he'll Mk keep.mention how good of ekson 31/01/2022 10:50 AM Michael Kwok Some-more my buy call of woodland before so many time.People can see using chart. 31/01/2022 10:51 AM TheContrarian Michael Kwok born in 1978, started investing in 1993? 15 years old can buy shares? 03/02/2022 6:36 PM Michael Kwok Buy ekson 68 cents.buy rm 10k.if got big shot buy rm 50k above also can.NTA 2.60.So if take over at least rm 1.20-rm 1.30 if 50 percent discount.if more a bonus. 22/03/2022 10:49 AM Michael Kwok Last call say buy rm 10k.Tp rm 1 above.Brewing in company shareholder. 30/03/2022 4:07 PM Michael Kwok I challenge people throw and dun buy.but there buy.i also buy.if takeover at least rm 1.30.u know at least few hundred people holdingb at least few hundred million cash.assume 300 people.minimum 200 million.so at least rm 60 billion not include borrowing secure from bank. 13/04/2022 6:34 PM Michael Kwok The lumber is going shortage.once fully recover is going to usd 2000 above.world need lot of lumber for property,building and other.it need thing for construction. 27/04/2022 10:45 PM  BigZakar self genius blow water again......................if got money, better buy Tenaga 28/04/2022 8:05 AM Michael Kwok Excuse me.u do not know wht i do in march 2020 till now.please see the record.if this stock do not up above rm 1 before cny 2023.i resign from here.tq.people want fast but do not wanted learn.there no such thing as jump stage in reality world.many do not wanted to learn but making continously mistake. BigZakar self genius blow water again......................if got money, better buy Tenaga 23/05/2022 12:15 AM BigZakar QR loss!!!!!!!!!!!!!!! will dive below 50cents soon..........michael in deep trouble 31/05/2022 8:48 AM Tipster Loss > 20 million in stock market, they think the company money is their money to gamble? 30/08/2022 6:27 PM asd88 Anyone knows where is the michael that claimed eksons will be above rm1 before cny? I guess he really resign like he said haha. 26/01/2023 5:49 PM Michael Kwok Got patient,wait.i do not go.maintaining above rm 1.tq.dun forget its from sarawak.sarawak cash rich.few hundred million takeover,its peanut for them. 13/04/2023 10:59 AM Dehcomic01 Eksons is a Bursa ex-plywood manufacturer cum property developer trading below its Graham Net Net. The Graham Net Net (current assets minus total liabilities) is often used as a short-hand for liquidation value. The general view is that if you have a company trading very much below its Graham Net Net, you have found an investment opportunity. Eksons is currently trading at RM 0.52 per share compared to its Graham Net Net of RM 2.02. You may think that this is a bargain. But Eksons currently does not have any significant operations and is a cash holding company. This makes it a cash-holding value trap. A value trap is a company that appears cheap but instead of being a bargain turns out to be a dud. Normally if you have a Graham Net Net, it is not a value trap. But this applies only if there are operations. For a company with lots of cash but without significant operations, you have to assess it differently. This is the case with Eksons For details on how I assessed this company, go to Eksons is now a value trap (Oct 2023) https://www.youtube.com/watch?v=g1byo-eO4CM 02/10/2023 9:26 AM Dehcomic01 You have a stock portfolio to provide a balanced and risk-adjusted exposure to the stock market. But for this to be meaningful, the stocks in a portfolio should not be correlated. This then begs the question. Should the correlation be based on price or some business fundamentals? The ideal case is to have uncorrelated stocks based on both market price and business performance correlation. This will achieve diversification that addresses short-term volatility and aligns with long-term investment objectives. In practice I seldom look at price correlation in my stock portfolio as I am a long-term investor. I look at correlation from a business perspective. https://www.youtube.com/watch?v=7T7of46Q1Ww Take the example of Eksons and Annum. The former was in the plywood and is now attempting to be a bigger property developer. Annum is still in the plywood business although it has ventured into construction and property development. The top chart shows the ROE trends of the 2 companies while the bottom chart shows the share price trend. Should they be in the same portfolio? https://i.postimg.cc/xCngD2cF/Eksons-vs-Annum.png 01/02/2024 10:12 AM Dehcomic01 You may think that company with lots of cash can be a good thing. Afterall many would not challenge the mantra that “cash is king” But in the case of Eksons, you may have to think differently. As of the end of 2023, Eksons had about 2/3 of its total assets held in cash and short term securities. The huge cash position is because the company had scaled down its plywood business and its property development business had yet to scale up. So it ended with tons of cash where a significant amount is now invested in securities. Unless they have a Warren Buffett in the company, you should worry about whether this is an effective deployment of cash. My point is that the large cash holding is because of the lack of operations. This large cash holding has been there for many years. I used to think it was a good thing. But it a company is holding onto cash for years, it may not be a good thing. In this case, cash is actually a value trap. https://focusmalaysia.my/eksons-dont-be-mesmerised-by-the-cash-hoard/ 02/03/2024 9:45 AM Dehcomic01 Bursa Malaysia Eksons used to have 2 business segments – timber (mfg of veneer and plywood) and property development. But in early 2023, it closed down the timber business. At the same time, there is no new property development projects. The company is merely selling off its stocks of plywood and unsold properties. But the company is cash rich due to the closing down of the timber business. It has RM274 million in cash or cash equivalent (investment securities) as of Dec 2023. But cash can also be a value trap as explained in page 21 of INVEST https://notice.shareinvestor.com/email/newsletter/invest/pdf/Vol201-Invest-29Mar.pdf 01/04/2024 12:35 PM  | |
