BINA PURI
15.9.2016 29 SEN
7.3.2024 7 SEN

BINA PURI
15.9.2016 29 SEN
7.3.2024 7 SEN

BINA PURI
15.9.2016 29 SEN
7.3.2024 7 SEN

BINA PURI
15.9.2016 29 SEN
7.3.2024 7 SEN

PMCORP
2.9.2016 16 SEN
7.3.2024 18 SEN

MASTEEL
19.8.2016 46 SEN
7.3.2014 30 SEN

ZELAN
19.8.2016 19 SEN
7.3.2024 5.5 SEN

RCECAP

12.8.2016 MYR 0.60
7.3.2024 MYR 2.85

INSAS

28.5.2024 MYR 0.68
7.3.2024 MYR 1.08

MUI

13.5.2016 18 SEN
7.3.2024 5.5 SEN

PM CORP

29.4.2016 28 SEN
7.3.2024 18 SEN

SOP

15.4.2016 MYR 2.84
7.3.2024 MYR 3,16

WTK

APRIL 2016 RM 1.20
7.3.2024 RM 0.48

MAYBULK

10.4.2016 1.22 MYR
7.3.2024 0.30 MYR

MAYBULK

10.4.2016 1.22 MYR
7.3.2024 0.30 MYR

CBIP

18.3.2016 2.24 MYR
7.3.2024 1.36 MYR

WASEONG
17.3.2016 0.74 MYR
7.3.2024 1.18 MYR

WASEONG
17.3.2016 0.74 MYR
7.3.2024 1.18 MYR

YTLPOWER

18.3.2016 RM 1.38
7.3.2024 RM 3.84

MULPHA
26.2.2016 2.45
7.3.2024 2.32

MULPHA
26.2.2016 2.45
7.3.2024 2.32

MULPHA
26.2.2016 2.45
7.3.2024 2.32

MULPHA
26.2.2016 2.45
7.3.2024 2.32

MULPHA
26.2.2016 2.45
7.3.2024 2.32

BCORP
12.2.2016 34 SEN
7.3.2024 30 SEN

BCORP
12.2.2016 34 SEN
7.3.2024 30 SEN

PMCORP
5TH FEB 2016 27 SEN
7TH MARCH 2024 18 SEN

PMCORP
5TH FEB 2016 27 SEN
7TH MARCH 2024 18 SEN

PMCORP
5TH FEB 2016 27 SEN
7TH MARCH 2024 18 SEN

MPHB CAP

15TH JAN 2015 1.50 MYR PER SHARE
7TH MARCH 2024 1.08 MYR PER SHARE

MPHB CAP

15TH JAN 2015 1.50 MYR PER SHARE
7TH MARCH 2024 1.08 MYR PER SHARE

MPHB CAP

15TH JAN 2015 1.50 MYR PER SHARE
7TH MARCH 2024 1.08 MYR PER SHARE

NYLEX
JAN 2016 7.9 SEN PER SHARE
7TH MARCH 2024 24 SEN PER SHARE

NYLEX
JAN 2016 7.9 SEN PER SHARE
7TH MARCH 2024 24 SEN PER SHARE

NYLEX
JAN 2016 7.9 SEN PER SHARE
7TH MARCH 2024 24 SEN PER SHARE

NYLEX
JAN 2016 7.9 SEN PER SHARE
7TH MARCH 2024 24 SEN PER SHARE

Dutaland
8th Jan 2016 44 sen
7th March 2024 31 sen

Dutaland
8th Jan 2016 44 sen
7th March 2024 31 sen

Dutaland
8th Jan 2016 44 sen
7th March 2024 31 sen

15th Jan 2016 Opcom was priced at 0.77 MYR per share.
7th March 2024, Opcom is priced at 0.38 MYR per share

On 8th Jan 2016, Jayatiasa was priced 1.73 MYR per share.
On 7th March 2024, Jayatiasa is priced 1.46 MYR per share.

On 8th Jan 2016, Jayatiasa was priced 1.73 MYR per share.
On 7th March 2024, Jayatiasa is priced 1.46 MYR per share.

Share price of PMCorp is 20 sen per share today.

>>>

Felix888999

1,423 posts

Posted by Felix888999 > 1 hour ago | Report Abuse

Repost from TG forum:

Which shameless liar posted this whopping 688% TP 2.00?
Dare to post but no balls or no brain to proof it? Hahahahahahah

Stock: [PMCORP]: PAN MALAYSIA CORPORATION BHD

2013-12-10 19:53 | Report Abuse

Hi Chrollo

Welcome to this thread.

This counter is for long term investors. My timeline is 5 years and I expect rm2.0 by then with a steady dividend payout. Others may have other TP.

Your entry price now is lower than most of us here. My average entry cost is .245. Cumulated from .19 till .35

Cheers .

>>>

The classic most well known value trap company is Berkshire Hathaway.

Buffett acquired BH as he assessed it to be very undervalued. It was in the textile mill business which was in a long period of decline. Its assets were depreciating. To update its manufacturing facilities, it required injection of much needed new capital. Yet, these new capital did not achieve any returns, probably negative returns. He was forced to restructure his business, closing down plants, retrenching workers and not putting new capital into existing business. Competition was fierce from international companies which had lower cost advantage.

BH was indeed a classic value trap. It was comforting to know that even Buffett was not infallable.

Eventually, he restructured BH to be what it is today, a totally different company from the time he bought it.

When a undervalued company with good fundamentals become value trap?

Benjamin Graham, the father of value investing, specialised in this group of stocks. He has a check list to select these stocks. His advice is to buy a group of them, and based on probability, the outcome of the group will be a positive, though at an individual stock level, this maybe unpredictable. (This approach is unlike that of Buffett, another value investor.)

According to Benjamin Graham, he observed these stocks and locked in the profits through selling when the prices crept upwards towards its "intrinsic value". Those undervalued stocks that did not "perform" by the end of 2 years, he sold. There is an opportunity cost for holding onto underperformers or poor performers for too long.



The approach of Buffett was different. He identified a severely undervalued stock. He bought a lot of it. Then he became an activist to get the management to take actions to realise the full value of the stock. He even got into the board of director of the company to influence the management. Then he cashed out with his profits.

Oriental Holdings
.
Is this another value trap? It is undervalued, no doubt.

It holds valuable asset. Possibly, asset play.

However, it is not growing its business. Where are the growth areas?

It pays dividends. Its dividends have increased yearly.

Its DPO ratio is low and it retained most of its earnings at low ROE.

Will you be willing to hold this stock with a low dividend income and no good growth prospects for the short and medium term?

What will unlock the full value of this stock .. and when?

Was KAF a value trap when it was listed?

This company was taken private by its major shareholders a few years back at ?2.80 per share.

For a very long time, it was trading at a price of 1.50 per share. For this, you obtained a regular dividend equivalent to 5% yield, well above the risk free fixed deposit rate at that time.

For those who knew the assets within this company, it possessed a valuable piece of land in the KLCC area, which was not re-valued. Of course, this real estate got more and more valuable each year.

Those who bought into this company, which was "undervalued" based on its assets was at least able to console themselves that they received regular dividend incomes equivalent to 5% annually.

Nothing moved for years and decades. One fine day, the major shareholders (Khatijah & Friends) made an offer to take the company private. Those who had this share were thus rewarded for their patience. And yes, a lot of patience indeed. Yet, can one be certain that the investment will play out according to your book?

I have this stock since its listing and when it was taken private, it was a 5x + multibagger, excluding the dividends.

>>>
In past, Juan Kuang paid little dividend, kept most of the retained earnings in the company, the directors enjoy good remunerations and perks, and at the appropriate time, the company was taken private for a song. The minority shareholders did not benefit from the good fortune of this company. Thus, it was appropriately priced at very low valuation in the stock market at that time. (I do not own this stock, but know the history.)

>>>

Previous listed and taken private many years ago, Juan Kuang is a very good past example of a value trap stock. It was profitable, the company grew its equity yearly through continuous retained earnings, it distributed pittance dividends (if at all?), its valuation was by various measures "cheap" (*low PE, low P/BV, DY relatively high*) and finally it was taken private at a small premium to its very low market price.

Those who invested into Juan Kuang hoping for its price to climbed closing the price to book value gap were all disappointed.

>>>

BLee Please also ask "if majority holders control 51% of a company, how to break out of value trap? Tq
06/03/2024 8:39 AM

>>>

Yes. Many Malaysian companies are controlled by families. The rewards to the minority shareholders are dependent on the generosity and thinking of the major controlling shareholders.

Some examples: KSL did not pay dividends, though profitable. However, development and construction company are best avoided, as it is difficult to value such company. Also, difficult to track its true accounts.

SAB is another. It pays dividends but has not increased its dividends for many years. Its NTA continues to grow due to retained earnings. It is undervalued, an asset play and also I suppose, if you wish to get your reward quickly, a value trap. :-)

There are many companies in the same category. In past, Juan Kuang paid little dividend, kept most of the retained earnings in the company, the directors enjoy good remunerations and perks, and at the appropriate time, the company was taken private for a song. The minority shareholders did not benefit from the good fortune of this company. Thus, it was appropriately priced at very low valuation in the stock market at that time. (I do not own this stock, but know the history.)