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Previous earning
Group revenue was $195.1 million for the year ended 30 June 2016 compared to $60.6 million in the prior year driven by investment income from Knowledge Universe Holdings (&ldquo KUH&rdquo ) of $174.9 million attributable mainly to the receipt of cash distributions from the sales of the US and international childcare operations. Group profit before tax was $144.4 million for the year ended 30 June 2016 compared to $31.7 million in the previous year. The increase was mostly due to investment income from KUH, partly offset by an increase in other operating expenses. The increase in other operating expenses was mainly attributable to a foreign exchange loss of $19.9 million related to the voluntary liquidation of Focus Up Holdings Limited and the Greenstreet carried interest related to the cash proceeds received from KUH. In the previous year, the Group recorded a profit of $27.4 million from the sale of China Auto and a foreign exchange gain of $5.4 million which was offset by an impairment loss of $13.2 million related to the Group&rsquo s investment in K12, Inc (&ldquo K12&rdquo ). Group EBITDA of $144.4 million was $99.4 million above the prior year driven by investment income from KUH. The decrease in Group taxation for the year was mainly due to tax arising from the sale of China Auto in the prior year. Group profit attributable to shareholders for the year ended 30 June 2016 was $140.6 million compared to $24.9 million in the previous year, and earnings per share was 32.45 cents. Group Overview 2016 $ million 2015 $ million % Increase/ (Decrease) Revenue 195.1 60.6 221.8 Net carrying value of investment disposed (7.5) (18.2) (58.8) Staff costs (0.2) (0.2) 13.3 Investment impairment loss - (13.2) nm Other operating (expenses)/income (43.0) 2.8 nm Profit before tax 144.4 31.7 354.8 EBITDA* 144.4 45.0 220.9 Profit attributable to shareholders of the Company 140.6 24.9 463.9 Earnings per share (EPS)^ (cents) 32.45 5.76 463.4 Return on equity (ROE)** (%) 55.7 10.8 415.7 * EBITDA is defined as profit before tax, finance expenses, depreciation & amortisation and investment impairment loss. ^ Comparative figures for EPS have been adjusted for the share consolidation of every five existing issued ordinary shares into one ordinary share. ** ROE is based on profit after tax divided by average shareholders&rsquo funds. nm = not meaningful k1 Ventures Limited Report to Shareholders 2016
Have a look at OceanSky
Takes time to generate the cash again if new venture profitable
Likely take 2-3 years minimum to resume dividends provided new business make money
I agree with the report. Time to take money off K1 and move on for those invest since few years ago which K1 basically foc till today
Takes time to generate the cash again if new venture profitable
Likely take 2-3 years minimum to resume dividends provided new business make money
I agree with the report. Time to take money off K1 and move on for those invest since few years ago which K1 basically foc till today
Zindarion ( Date: 15-Mar-2017 13:41) Posted:
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Selling cash printing company...
Then turn out become cash company
If you plan to hold until next venture of new business then go take a look at Jaya
You are likely take back the money you invested for those keen to buy now
Like go bank, deposit 100
Wait Bank give dividends and withdraw may be 130 or less.
Future wise nothing left on K1
Then turn out become cash company
If you plan to hold until next venture of new business then go take a look at Jaya
You are likely take back the money you invested for those keen to buy now
Like go bank, deposit 100
Wait Bank give dividends and withdraw may be 130 or less.
Future wise nothing left on K1
mepkoh ( Date: 15-Mar-2017 13:21) Posted:
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remind me of neratel..
after a great divdend..the price almost 50% drop..from aboutb 73..tto 40
mepkoh ( Date: 15-Mar-2017 13:19) Posted:
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' Opportune' time to cash out on k1Ventures, says RHB
Source: TheEdge Markets | Publish date: Wed, 15 Mar 2017, 11:32 AM | > > Read article in News website
SINGAPORE (March 15): RHB on Wednesday says it is time for shareholders of k1 Ventures to take some money off the table.
This comes after k1 recently announced plans to divest its interests in US-based education company Knowledge Universe Education (KUE) and privately-held global financial services firm Guggenheim Capital.
" If the proposed sales are successful, k1 intends to distribute proceeds back to shareholders and will effectively become a shell company," says RHB analyst Goh Han Peng.
According to Goh, Guggenheim Capital has grown its assets under management significantly since k1 first invested in 2011. Its AUM has more than doubled around US$240 billion currently.
While the sale of stake in Guggenheim Capital is expected to fetch a handsome premium over its book value, Goh notes that k1 is already currently trading at a 70% premium over its book value of 48 cents per share.
" The market is thus pricing in $150 million of excess value over its book value," he says. " We think this is an opportune time to take some money off the table given the uncertainty over the eventual price obtained."
As at 11.22am, shares of k1 Ventures are trading 6 cents lower at 77.5 cents.
I still don' t understand technically price should go up before e distribution
What kind of crappy report is it from RHB. What is wrong with selling assets and distributing to the share holders? Market will adjust price according to the reduction. What crap is written by RHB?????????????????????
Why this report could cause crash?
k1 Ventures recently announced plans to divest its interests in Knowledge Universe Education (KUE), an US based education company and Guggenheim Capital, a privately held global financial services firm. In 2011, k1 had invested USD100m in Guggenheim Capital through a combination of preferred shares, common shares and warrants. If the proposed sales are successful, k1 intends to distribute proceeds back to shareholders and will effectively become a shell company.
johnng ( Date: 15-Mar-2017 12:38) Posted:
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Can share the reports?
johnng ( Date: 15-Mar-2017 12:38) Posted:
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thanks to the RHB reports..K1 CRASH
what is meant by wipeout? as in all the way down like falling knife?
HB8289 ( Date: 15-Mar-2017 11:23) Posted:
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Now under SGX queried
more to come.....
Probably wait and see attitude and try to push price down before a wipeout again
francisd ( Date: 15-Mar-2017 11:07) Posted:
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No comments here...hmmmm.
francisd ( Date: 15-Mar-2017 09:42) Posted:
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SGX queered now... for the drop in price..
Anyone know what is happenning here.
Cheers
Not Vested.
Likely k1 circular. distribution of special dividend to shareholder once they have complete disposing the 2 companies. The EGM is on 29 March.
Any paid out for the 2 divestments?
29 march 2017 4 season hotel
Proposed divestment of KUE 3 LP & Guggenheim Capital LLC
Before disposal. 17,106 & 10,778
Before EPS $3.95 & 2.49
After disposal. 9,137 & 2809
After EPS. $2.11& 0.65