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Value Investing
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Friday, 22 January 2016

Kep Corp is a conglomerate!


Some people tend to forget that Kep Corp is a conglomerate and not a pure O &G player so it is extremely difficult to analyze its future and transformation!


What did you see?








































CW, seen you invested in KepCorp >15 years, how does it's SBU fit into BCG matrix?

1. Star
2. Cash Cow
3. Question mark
4. Dog




What can we see from the PAST and make some guess into its FUTURE?


It is quite clear. Right?




























 

How about Cash Cow?

Why does Kep Corp choose to return dividends in specie for former K-Green and K-REIT to its shareholders and not keeping cash cow for itself?

Probably two reasons:

(1) Let shareholders themselves to decide to continue to get small regular milk or one-off small meat

(2) Avoid pumping in more capital to feed these cash thirst BUs.


 Back to (1)

How much more pro-rated dividends does royal shareholder get from ex K-Green and K-REIT on top of dividends from Kep Corp?

ex-K-Green (2010 to 2015) : $0.15
Kep Corp (2010 to 2015): $2.89

+ 5.2% more


K-REIT (2013 to 2015) : $0.056

Kep Corp (2013 to 2015): $1.32

+ 4.3% more


 


5 comments:

  1. CW, seen you invested in KepCorp >15 years, how does it's SBU fit into BCG matrix?

    1. Star
    2. Cash Cow
    3. Question mark
    4. Dog

    Thanks.

    ReplyDelete
    Replies
    1. I am sure each of its SBU has its own star, cow, question mark or dog since it is a conglomerate. Should be quite a handful to analyse.
      It's a matter of how efficient each SBU converts their question marks and dogs. Just my 2c worth.

      Delete
    2. Tough and good question!

      See my 2 cts worth of update with charts. LOL!

      Delete
  2. Golar's FLNG may help to ease some pressure. Watch how Golar is progressing on its FLNG execution.

    ReplyDelete

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