Thanks for your response. If I may, I would like to correct some of the misconceptions you may have:
1) BFL commenced operations in 1957 and listed on the local exchange in 2003. KSL was establised in 1985 and listed in 2015. BFL has a PNG deposit market share of 67% vs KSL's 13%. A 67% market share in deposits in the Australian context is equivalent to the combined market share of CBA, WBC and NAB.
2) In terms of their footprint, KSL has 19 branches and 80+ ATMs vs BFL 80 branches and 500+ ATMs across PNG.
3) One reason why BFL trades at a higher book value multiple is because its ROE is nearly 28% compared to KSL's 18%. This means every dollar of BFL's equity generates more profit than the equivalent dollar in KSL. However on a P/E basis, their valuations are broadly similar today.
4) Since its IPO, KSL has increased its share count from 163.8m shares to 286.9m shares, a 75% increase which has cause significant dilution to shareholders. BFL on the other hand has marginally reduced the number of shares from 467.5m shares to 467.2m shares given its buyback plan. This has contributed to KSL 's low annualised return since IPO (including all dividends) of 4.1%. Over the same period, BFL annualised return (in AUD) was 11.7%. If measured in PGK, it would have been higher as PGK has devalued by 20% since 2015.
5) In my view, the most important economic development in PNG over the next 5 years would be the approval and construction of Papua LNG. A US$10 billion LNG project kicking off in a country with a US$30 billion GDP would lift all boats. Everything else would be a sideshow.
- Forums
- ASX - By Stock
- KSL
- Ann: Results of 2023 AGM
Ann: Results of 2023 AGM, page-24
-
- There are more pages in this discussion • 38 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add KSL (ASX) to my watchlist
|
|||||
Last
95.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $274.4M |
Open | High | Low | Value | Volume |
95.5¢ | 95.5¢ | 94.5¢ | $346.7K | 365.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 47710 | 94.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
95.5¢ | 54359 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 47710 | 0.940 |
1 | 2206 | 0.935 |
7 | 123226 | 0.930 |
1 | 3222 | 0.925 |
4 | 44076 | 0.920 |
Price($) | Vol. | No. |
---|---|---|
0.955 | 54359 | 2 |
0.960 | 16830 | 3 |
0.970 | 13950 | 3 |
0.980 | 95500 | 6 |
0.985 | 5000 | 1 |
Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
Featured News
KSL (ASX) Chart |
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online