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Overview
Financial Highlight
HeadlinesBusiness Background Malaysia Building Society Bhd is a Malaysia-based company. The company operates through four major segments: a financing business, which grants loans on the security of freehold and leasehold properties and offers retail financing and related services; a property development business, which develops residential and commercial properties; a business that leases real property, which leases out office buildings; and a hotel operation business, which leases hotel rooms, in addition to retail and other related business. The company also operates a business in project management and investment holding. It generates the majority of its total revenue from the financing business, and conducts business solely in Malaysia.
  TheGardener For MBSB, main business is personal loan. As gov raise the minimum bankruptcy threshold from RM50,000 to RM100,000. Game on. Property segment will be the main problem but Malaysia Gov very support until plan to extend the loan to next generation! Mid & Long term no issue. Just buy and keep. Dont all in one shot buy in depand on situation. Anyway, current international hot topic is........The end, I didnt buy in any bank counter. 03/06/2021 12:54 AM auditorandconsultant The Gardener 好心你啦。真的什么都能断章取义。我说二月开始重仓和关注Tguan 跟我说我开始在二月尾，三月头慢慢累计这个Tguan 是没有冲突的。别玩字眼游戏。你就是这个款，所以才会在tguany给其他valued investor 投诉你。 For those who wanna know the whole story about the personality of The Gardener, please go and read the whole story in Tguan klse i3 from end of Feb 2021. Do not be fooled by this joker. 03/06/2021 8:25 AM Vikash36 It aims to be the 2nd full-fledged financial institution to be listed as a shariah-compliant stock after BIMB ---- By when this will take place? Is it a long term 2 to 5 years plan? Currently the value of the share price is below market value. 03/06/2021 4:40 PM auditorandconsultant Dear all, please be patient. I am compiling my information to share to all of you my basis of assumption made in the past especially one trading day before and after 25 May 2021. 04/06/2021 6:43 PM Yippy68 @ auditor, kindly tell us your plan before mid night, otherwise it is time for you to get lost from here.tq 04/06/2021 7:12 PM TheGardener Serious, this dumb dumb @auditorandconsultant n team (Small time syndicate!) try to create so call scary movie (MCO) to buy low but he forget this is *** ***** ****** *** **** ******! It not going to work out on this kind of counter. As so call value stock owner (TGUAN) work so hard to promote online and offline, you think its free!? Nothing is free, everyone need money! Maybe, his n team can control a bit of TGUAN as ESOS issued share with RM1.13 only and plan to sell.....Lucky so call "EXPERT & VALUE INVESTOR" turn out and call "BUY"! Then TGUAN OWNER MR. ANG sold 200000 units on 31 May 2021. I have no idea ESOS issued to who!? How about you let me know!? Lowest price on 31 May 2020 is RM2.60 - RM1.13 = RM1.47 per share. 200000 units = 294,000.00 net profit. Beneficial get a "FREE FLASH CAR"! You get "PENTHOUSE"! Let me help beneficial to say "THANK YOU VERY MUCH TO VALUE INVESTOR"! Ha Ha Ha Ha Ha Ha Ha Ha! 04/06/2021 7:33 PM auditorandconsultant Initially, my gang and I planned to go for concentrated investment into MBSB due to the reason below. Very unfortunate matter was that the Syndicates did not press the price of Mother Shares to RM0.55 to ensure 100% losses incurred by Call Warrant Holder this round as compared to last round on 29 Jan 2021. Probably, the Syndicates purposely did not want to press down further because they knew my gang and I were waiting to collect the cheapest MBSB mother share on one (1) trading day before and after 25 May 2021. So next time, my gang and I will be silent and waiting for other better counters since Syndicates already identified my existence. There is always a reason on why I keep waiting for MBSB to plummet to RM0.55 and below. I was using (1) Call Warrant Exercise Price; (2) Intrinsic Value and Price for Margin of Safety; and (3) Historical performances of MBSB from year 2014 to year 2020 from FCF per share, Net Cash per share and Net Income. Historical event where my basis of assumption was CORRECT:- MBSB C31; Expiry date on 29 Jan 2021; Issuer is CIMB; Exercise Price RM0.60; Exercise Ratio 1:1 Formula to calculate the arbitrage gain or price gap for the conversion of call warrant to mother shares:- = (Price at Expiry Date - Exercise Price) / Exercise Ratio LESS Average Cost of Call Warrant = (o.595 – 0.600)/1 LESS 0.040 = Maximum loss of 0.040 per call warrant My Experience:- My experience when I was working as a consultant to Syndicates and Fund Managers from BVI and Cayman Island told me that there is always a tendency that Syndicates (I could not mention the name or else I will be sued) will purposely throw the mother shares so that the mother share price will plummet. Then, warant holder who aims to convert the call warrant to mother share before the expiry will not be able to make profit from the price gap or what it is normally known as an "arbitrage". The issuer will be the big beneficiary if the price of mother share plummets. I had attempted some counters using this way so I always use the same way whenever I wanted to purchase mother share of MBSB. My recent experience was when I bought MBSB at end of January 2021, i.e. 1 day before and 1 day after 29 January 2021 so as to maximise my return on investment later when I could actually buy MBSB at the lowest point possible using the expiry date of Call Warrant as a benchmark. I experienced this good entry point in Jan 2021 and as such, during 1 week before and after 25 May 2021, I tried to ask everyone to wait for the price of MBSB to drop to RM0.55 assuming that the Syndicates would again press the mother share price to RM0.55. Experience for MBSB C-32:- MBSB C32; Expiry date on 25 May 2021; Issuer is AMBANK; Exercise Price RM0.55; Exercise Ratio 2:1 For this round, the Syndicate did not press down aggressively the price of the mother share to RM0.55 which was the exercise price. As such, warrant holder only lost a bit. Possible hint: Look at the issuer. I could not tell who the syndicates are and you people is smart to relate the parties such as WA Holder, Syndicates and Issuer of WA. What is the fact about Ambank? Ambank incurred lot of costs and compensation due to 1MDB case. Hint for next game by relating your investment decision to MBSB C-34:- Please refer to my excel spread sheet.I will provide upon request. Another reason on why I think the current price of MBSB is still expensive to me:- Intrinsic Value as of early of April 2021 = RM0.72 Price for Margin of Safety (PMOS) = RM0.54 (still my desired price was RM0.55, please refer to my conversation between myself and icepumpkin and yippy68 from my excel spread sheet which I will provide upon request) Net Cash per share (in cent) from year 2014 (-51.19), 2015 (-65.16), 2016 (46.45), 2017 (-51.85), 2018 (-172.87), 2019 (-229.93) and 2020 (-202) Free Cash flow per share (in cent) from year 2014 (12.85), 2015 (13.51), 2016 (13.71), 2017 (14.80), 2018 (6.30), 2019 (11.84), 2020 (-20.96) Net Income from year 2014 (1,015 mio), 2015 (258 mio), 2016 (201 mio), 2017 (417 mio), 2018 (642 mio), 2019 (717 mio) and 2020 (270 mio). For those who would like to request for my excel spread sheet, please let me know. I send to you via KLSE i3 messenger upon request. Thank you. My intention is to enable everyone to maximise the return by waiting for the lowest possible price which is the PMOS, a concept founded by Benjamin Graham. Well, perhaps, my basis of assumption did not work successfully for this MBSB C-32, My intention is to maximise return and at the same time follow Value Investment and Fundamental Analysis. Disclaimer: This is only a sharing of my idea and basis of assumption. Not an advice to you to decide BUY or SELL. Remember, Buy or Sell at your own discretion and own risk! 04/06/2021 8:22 PM auditorandconsultant Please let me know if you would like to have my excel spreadsheet which i could share via i3 messenger. 04/06/2021 8:23 PM auditorandconsultant I had already shared to some of you my analysis and hopefully my message could be conveyed to you effectively to avoid future misunderstanding 04/06/2021 8:34 PM auditorandconsultant @E K At this juncture, I am observing and waiting for other good counter. For the benefit of myself and my group of comrades, I could only tell you to focus more on Consumers Good Industries and for Bank, I shall wait and see because of many uncertainties due to government policy and covid 04/06/2021 8:59 PM auditorandconsultant EK To be honest, I have not done any homework on OCK Haha I will see if I could try to study Now rushing reporting deadline working from home. Still have lot of audited reports to rush even though there is an extension of filing time set by SSM but I am still waiting for news about LHDN Extension If anyone knows, please let me know 05/06/2021 11:34 AM oppstar auditor and consultant Ek, Thank for opinion, please share your excel spreadsheet to me .Thanks oppstartechnology8@gmail.com 06/06/2021 2:27 PM auditorandconsultant @oppstar, Please check your i3 messenger. Sent there already 06/06/2021 11:50 PM auditorandconsultant Hi all, I gonna be away for many days already because need to meet tight reporting deadlines. FYI, I am a full time auditors and freelance consultant. Busy day and night. Hahaha Even today I am working still from home... Take good care..... I will be back after rushing and finishing all my works. 07/06/2021 12:20 PM auditorandconsultant PATIENCE is the key. Let's wait for better price and opportunity! Let's learn from Charlie Munger “The world is full of foolish gamblers and they will not do as well as the patient investors.” Charlie Munger "I think the record shows the advantage of a peculiar mind-set - not seeking action for its own sake, but instead combining extreme patience with extreme decisiveness." Charlie Munger "The big money is not in the buying and selling … but in the waiting.” Charlie Munger 07/06/2021 12:27 PM Yippy68 @auditor , 0.585 also consider very high, only 0,50 is fair to buy. hahahahaha you make my cock laugh. .listen to you si liau. 08/06/2021 11:13 AM Vikash36 Agree that the share value (0.65) is below the market value. The price will go up and it is just matter of time. 08/06/2021 1:07 PM Loy Loy Cheong Based on fundamentals and it's current earnings, the fair value is about 80sen to me, however as economy improves and covid situation under control and life normalized, the share could go back to RM1 level. If you can hold for long term when they are a full fledged Islamic Bank, the share could be RM2.50 and above. Hold on and do not be too short sighted on profits. 08/06/2021 1:12 PM RainT it already how long already since long time ago until today still fail to go up above 1.00 08/06/2021 7:23 PM fusing79 MBSB: Seal chilled water supply agreement. Malaysia Building Society (MBSB) has entered into a chilled water supply agreement with PJ Sentral DCS SB for the supply of chilled water to an office building located at Petaling Jaya for a period of 20 years from Dec 1, 2020, at an estimated total consideration of up to RM73.41m. (Bernama) 08/06/2021 10:03 PM RJ87 Now, what do i3 readers owe you for such "exclusive" information? Ok ok...maybe give u some credit that you a kuching miao trying to be tiger. Good try. If you are really that "experienced", then you should know by now that there is not such thing as win win...What's stock is about is bet against market and be right. And broadcast here in i3 isn't exactly doing that. And what makes you think you are right? P.S. Talk from hindsight is 20/20. Parrot can do better job than you do. =D P.P.S. And please throw the saying that "If you starting to get haters, you must be doing something right" out the window. Kucing miao trying to tiger is hilarious. Not right. -------------------------------------------------------------------------------- auditorandconsultant Initially, my gang and I planned to go for concentrated investment into MBSB due to the reason below. Very unfortunate matter was that the Syndicates did not press the price of Mother Shares to RM0.55 to ensure 100% losses incurred by Call Warrant Holder this round as compared to last round on 29 Jan 2021. Probably, the Syndicates purposely did not want to press down further because they knew my gang and I were waiting to collect the cheapest MBSB mother share on one (1) trading day before and after 25 May 2021. So next time, my gang and I will be silent and waiting for other better counters since Syndicates already identified my existence. There is always a reason on why I keep waiting for MBSB to plummet to RM0.55 and below. I was using (1) Call Warrant Exercise Price; (2) Intrinsic Value and Price for Margin of Safety; and (3) Historical performances of MBSB from year 2014 to year 2020 from FCF per share, Net Cash per share and Net Income. Historical event where my basis of assumption was CORRECT:- MBSB C31; Expiry date on 29 Jan 2021; Issuer is CIMB; Exercise Price RM0.60; Exercise Ratio 1:1 Formula to calculate the arbitrage gain or price gap for the conversion of call warrant to mother shares:- = (Price at Expiry Date - Exercise Price) / Exercise Ratio LESS Average Cost of Call Warrant = (o.595 – 0.600)/1 LESS 0.040 = Maximum loss of 0.040 per call warrant My Experience:- My experience when I was working as a consultant to Syndicates and Fund Managers from BVI and Cayman Island told me that there is always a tendency that Syndicates (I could not mention the name or else I will be sued) will purposely throw the mother shares so that the mother share price will plummet. Then, warant holder who aims to convert the call warrant to mother share before the expiry will not be able to make profit from the price gap or what it is normally known as an "arbitrage". The issuer will be the big beneficiary if the price of mother share plummets. I had attempted some counters using this way so I always use the same way whenever I wanted to purchase mother share of MBSB. My recent experience was when I bought MBSB at end of January 2021, i.e. 1 day before and 1 day after 29 January 2021 so as to maximise my return on investment later when I could actually buy MBSB at the lowest point possible using the expiry date of Call Warrant as a benchmark. I experienced this good entry point in Jan 2021 and as such, during 1 week before and after 25 May 2021, I tried to ask everyone to wait for the price of MBSB to drop to RM0.55 assuming that the Syndicates would again press the mother share price to RM0.55. Experience for MBSB C-32:- MBSB C32; Expiry date on 25 May 2021; Issuer is AMBANK; Exercise Price RM0.55; Exercise Ratio 2:1 For this round, the Syndicate did not press down aggressively the price of the mother share to RM0.55 which was the exercise price. As such, warrant holder only lost a bit. Possible hint: Look at the issuer. I could not tell who the syndicates are and you people is smart to relate the parties such as WA Holder, Syndicates and Issuer of WA. What is the fact about Ambank? Ambank incurred lot of costs and compensation due to 1MDB case. Hint for next game by relating your investment decision to MBSB C-34:- Please refer to my excel spread sheet.I will provide upon request. Another reason on why I think the current price of MBSB is still expensive to me:- Intrinsic Value as of early of April 2021 = RM0.72 Price for Margin of Safety (PMOS) = RM0.54 (still my desired price was RM0.55, please refer to my conversation between myself and icepumpkin and yippy68 from my excel spread sheet which I will provide upon request) Net Cash per share (in cent) from year 2014 (-51.19), 2015 (-65.16), 2016 (46.45), 2017 (-51.85), 2018 (-172.87), 2019 (-229.93) and 2020 (-202) Free Cash flow per share (in cent) from year 2014 (12.85), 2015 (13.51), 2016 (13.71), 2017 (14.80), 2018 (6.30), 2019 (11.84), 2020 (-20.96) Net Income from year 2014 (1,015 mio), 2015 (258 mio), 2016 (201 mio), 2017 (417 mio), 2018 (642 mio), 2019 (717 mio) and 2020 (270 mio). 10/06/2021 11:12 AM Loy Loy Cheong MBSB Management should sack themselves for the shares poor performance. 15/06/2021 9:36 AM Loy Loy Cheong A brunch of useless Management that know how to do nothing to enhance investors investment but paying themselves handsomely. Useless... 15/06/2021 9:47 AM Loy Loy Cheong Just look at DRP, putting money in their own pocket instead of paying back to investors which has been holding the shares for 1 bad year. 16/06/2021 12:38 AM Loy Loy Cheong Banks and financials are all up the last few days and yet MBSB struggling and cannot even maintain even. 16/06/2021 9:05 AM Lesliecky DRP - i have the same tot at the beginning, but is merit to shareholder to subscribe at lower price and potentially resale at higher price in open market. Let me know if that is unfavour for shareholder like us. 16/06/2021 12:13 PM Loy Loy Cheong Nobody can guarantee the price will go up after DRP, and btw DRP can come in the form of selling you at 2sens lower or giving you shares equivalent to your dividend, if they choose to do it by issuing new subscriptions at a discount price, the current price is already at 50% discount so how are they going to price it? Unlike maybank, their price is high and a few ten's discount is substantial for investors to buy into their new shares issues. I hope I am wrong, but market is obviously not reacting to it favourably till now. MBSB has got to come out and do something to stabilise their shares. I rather they do share buy back is better. 16/06/2021 12:25 PM Lesliecky thanks, partly agreed. That is for surely that market do not react well and the share price trend low over months. 16/06/2021 12:40 PM Loy Loy Cheong The allotment to individual investor will be 10% of your holding shares at a discount of not more than 10% based on the average last 5 days closing price before the AGM? Is that correct? Appreciate anyone advise. 16/06/2021 3:43 PM Loy Loy Cheong Got the picture now, the price was kept low deliberately for the DRP allotment shares. Will it return to mid or high 60+sen level after the DRP allotment confirmation? 16/06/2021 3:54 PM  |
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