Boon Siew’s legacy lives on
BY HO WAH FOON
Under Wong’s stewardship, Oriental Holdings saw its revenue surge to RM4.38bil in 2015 from under RM1bil in 1987.
Pre-tax profit rose more than three folds to RM359mil.
For 11 consecutive years, Honda was the number one seller in the local market, overtaking Toyota.
Besides the motor trade, Wong had to oversee the group’s other businesses in hotel and resorts, plantation and construction machinery – both local and international.
The cash position of Oriental Holdings has been piling up – to some RM2.9 billion at end-2015
Is the share of Oriental Holdings undervalued?
Loh: Yes. Its net value per share was RM9.10 at the end of 2015 financial year. We have not re-valued the land and properties of the group. If we do it, the value per share should be more than RM20. (On Thursday, the share ended at RM6.55).
We have been quite consistent in giving dividends twice a year. Last year, we gave gross dividends of 20%.
We are expanding and have gone into healthcare sector.
We have a lot of land bought in the 1960s and 1970s, it may be cheap for us to enter property development.
We are also studying whether we should enter the education and halal food sectors.
He laid down that if any of the six family groups in charge of six different sectors want to sell their share, they must sell to family members and not outsiders.
What is the outlook for 2016 for Oriental Holdings?
Wong: I believe we can maintain our profitability level. Our motor division will still contribute the most to the bottom line of Oriental Holdings.
Source: The Star
http://www.thestar.com.my/news/nation/2 ... hilosophy/