Highlights
KLSE: ICAP (5108)       ICAPITAL.BIZ BERHAD MAIN : Closed&Fund
Last Price Today's Change   Day's Range   Trading Volume
2.03   +0.01 (0.50%)  2.03 - 2.03  1,000
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Financials


Market Cap: 284 Million

Market Cap 284 Million
NOSH 140 Million

Latest Audited Result:  31-May-2020

Latest Audited Result: 31-May-2020
Announcement Date 01-Oct-2020
Next Audited Result: 31-May-2021
Est. Ann. Date: 01-Oct-2021
Est. Ann. Due Date: 27-Nov-2021

Latest Quarter:  30-Nov-2020 [#2]

Latest Quarter: 30-Nov-2020 [#2]
Announcement Date 11-Jan-2021
Next Quarter: 28-Feb-2021
Est. Ann. Date: 11-Apr-2021
Est. Ann. Due Date: 29-Apr-2021
QoQ | YoY   -166.16%  |    -273.00%

Annual (Unaudited) ( EPS: -2.57, P/E: -78.99 )

Revenue | NP to SH 12,760  |  -3,598
RPS | P/RPS 9.11 Cent  |  22.27
EPS | P/E | EY -2.57 Cent  |  -78.99  |  -1.27%
DPS | DY | Payout % 0.00 Cent  |  0.00%  |  - %
NAPS | P/NAPS 2.82  |  0.72
YoY   -189.64%
NP Margin | ROE -28.20%  |  -0.91%
F.Y. | Ann. Date 31-May-2020  |  29-Jul-2020

T4Q Result ( EPS: -4.15, P/E: -48.95 )

Revenue | NP to SH 9,253  |  -5,806
RPS | P/RPS 6.61 Cent  |  30.71
EPS | P/E | EY -4.15 Cent  |  -48.95  |  -2.04%
DPS | DY | Payout % 0.00 Cent  |  0.00%  |  - %
NAPS | P/NAPS 3.01  |  0.67
QoQ | YoY   -23.17%  |    -254.01%
NP Margin | ROE -62.75%  |  -1.38%
F.Y. | Ann. Date 30-Nov-2020  |  11-Jan-2021

Annualized Result ( EPS: 0.50, P/E: 401.41 )

Revenue | NP to SH 8,054  |  708
RPS | P/RPS 5.75 Cent  |  35.29
EPS | P/E | EY 0.50 Cent  |  401.41  |  0.25%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   -83.08%  |    -86.18%
NP Margin | ROE 8.79%  |  0.17%
F.Y. | Ann. Date 30-Nov-2020  |  11-Jan-2021


Hints :
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Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
31-May-2021 11-Jan-2021 30-Nov-2020 2 1,175 -524 -692 -692 - 421,399 - % -58.89% -0.16% 140,000 0.84 0.84 -0.49 -0.49 0.00 0.00 3.0100 3.01   -166.16%   -273.00% 30-Nov-2020 1.99 237.11 -402.60 0.66 -0.25% 0.00% 1.97 234.72 -398.55 0.65 -0.25% 0.00%
31-May-2021 01-Oct-2020 31-Aug-2020 1 2,852 1,174 1,046 1,046 - 400,399 - % 36.68% 0.26% 140,000 2.04 2.04 0.75 0.75 0.00 0.00 2.8600 2.86   541.72%   -51.64% 28-Aug-2020 1.98 97.19 265.01 0.69 0.38% 0.00% 01-Oct-2020 1.99 97.69 266.35 0.70 0.38% 0.00%
31-May-2020 29-Jul-2020 31-May-2020 4 2,258 520 163 163 - 394,799 - % 7.22% 0.04% 140,000 1.61 1.61 0.12 0.12 0.00 0.00 2.8200 2.82   102.58%   -72.83% 29-May-2020 2.03 125.86 1,743.56 0.72 0.06% 0.00% 29-Jul-2020 2.01 124.62 1,726.38 0.71 0.06% 0.00%
31-May-2020 10-Jun-2020 29-Feb-2020 3 2,968 -5,787 -6,323 -6,323 - 422,799 - % -213.04% -1.50% 140,000 2.12 2.12 -4.52 -4.52 0.00 0.00 3.0200 3.02   -1,680.75%   -1,141.68% 28-Feb-2020 2.15 101.42 -47.60 0.71 -2.10% 0.00% 10-Jun-2020 2.10 99.06 -46.50 0.70 -2.15% 0.00%
31-May-2020 13-Jan-2020 30-Nov-2019 2 2,954 864 400 400 - 445,200 - % 13.54% 0.09% 140,000 2.11 2.11 0.29 0.29 0.00 0.00 3.1800 3.18   -81.51%   -55.31% 29-Nov-2019 2.41 114.22 843.50 0.76 0.12% 0.00% 13-Jan-2020 2.39 113.27 836.50 0.75 0.12% 0.00%
31-May-2020 21-Sep-2019 31-Aug-2019 1 4,581 2,675 2,163 2,163 - 446,600 - % 47.22% 0.48% 140,000 3.27 3.27 1.55 1.55 0.00 0.00 3.1900 3.19   260.50%   13.13% 30-Aug-2019 2.38 72.74 154.05 0.75 0.65% 0.00% 20-Sep-2019 2.35 71.82 152.10 0.74 0.66% 0.00%
31-May-2019 23-Jul-2019 31-May-2019 4 3,317 1,116 600 600 - 450,800 - % 18.09% 0.13% 140,000 2.37 2.37 0.43 0.43 0.00 0.00 3.2200 3.22   -1.15%   -93.03% 31-May-2019 2.42 102.14 564.67 0.75 0.18% 0.00% 23-Jul-2019 2.32 97.92 541.33 0.72 0.18% 0.00%
31-May-2019 22-Apr-2019 28-Feb-2019 3 3,389 1,133 607 607 - 457,799 - % 17.91% 0.13% 140,000 2.42 2.42 0.43 0.43 0.00 0.00 3.2700 3.27   -32.18%   141.78% 28-Feb-2019 2.41 99.56 555.85 0.74 0.18% 0.00% 22-Apr-2019 2.35 97.08 542.01 0.72 0.18% 0.00%
31-May-2019 30-Jan-2019 30-Nov-2018 2 3,534 1,391 895 895 - 471,799 - % 25.33% 0.19% 140,000 2.52 2.52 0.64 0.64 0.00 0.00 3.3700 3.37   -53.19%   283.78% 30-Nov-2018 2.62 103.79 409.83 0.78 0.24% 0.00% 30-Jan-2019 2.39 94.68 373.85 0.71 0.27% 0.00%
31-May-2019 17-Oct-2018 31-Aug-2018 1 4,487 2,429 1,912 1,912 - 498,399 - % 42.61% 0.38% 140,000 3.21 3.21 1.37 1.37 0.00 0.00 3.5600 3.56   -77.79%   -14.38% 30-Aug-2018 2.77 86.43 202.82 0.78 0.49% 0.00% 17-Oct-2018 2.76 86.12 202.09 0.78 0.49% 0.00%
31-May-2018 30-Jul-2018 31-May-2018 4 12,594 9,187 8,609 8,609 - 498,399 - % 68.36% 1.73% 140,000 9.00 9.00 6.15 6.15 0.00 0.00 3.5600 3.56   692.50%   722.25% 31-May-2018 2.59 28.79 42.12 0.73 2.37% 0.00% 30-Jul-2018 2.80 31.13 45.53 0.79 2.20% 0.00%
31-May-2018 09-Apr-2018 28-Feb-2018 3 4,220 -731 -1,453 -1,453 - 487,200 - % -34.43% -0.30% 140,000 3.01 3.01 -1.04 -1.04 0.00 0.00 3.4800 3.48   -198.36%   -3,923.68% 28-Feb-2018 2.72 90.24 -262.08 0.78 -0.38% 0.00% 09-Apr-2018 2.47 81.94 -237.99 0.71 -0.42% 0.00%
31-May-2018 22-Jan-2018 30-Nov-2017 2 3,314 -33 -487 -487 - 494,199 - % -14.70% -0.10% 140,000 2.37 2.37 -0.35 -0.35 0.00 0.00 3.5300 3.53   -121.81%   55.85% 30-Nov-2017 2.79 117.86 -802.05 0.79 -0.12% 0.00% 22-Jan-2018 2.81 118.71 -807.80 0.80 -0.12% 0.00%
31-May-2018 05-Oct-2017 31-Aug-2017 1 4,748 2,715 2,233 2,233 - 473,200 - % 47.03% 0.47% 140,000 3.39 3.39 1.60 1.60 0.00 0.00 3.3800 3.38   113.28%   37.08% 30-Aug-2017 2.69 79.32 168.65 0.80 0.59% 0.00% 05-Oct-2017 2.69 79.32 168.65 0.80 0.59% 0.00%
31-May-2017 17-Jul-2017 31-May-2017 4 3,565 1,538 1,047 1,047 - 463,399 - % 29.37% 0.23% 140,000 2.55 2.55 0.75 0.75 0.00 0.00 3.3100 3.31   2,655.26%   314.11% 31-May-2017 2.64 103.67 353.01 0.80 0.28% 0.00% 17-Jul-2017 2.58 101.32 344.99 0.78 0.29% 0.00%
31-May-2017 14-Apr-2017 28-Feb-2017 3 4,251 443 38 38 - 443,800 - % 0.89% 0.01% 140,000 3.04 3.04 0.03 0.03 0.00 0.00 3.1700 3.17   103.45%   -99.88% 28-Feb-2017 2.41 79.37 8,878.95 0.76 0.01% 0.00% 14-Apr-2017 2.45 80.69 9,026.32 0.77 0.01% 0.00%
31-May-2017 09-Jan-2017 30-Nov-2016 2 1,539 -1,015 -1,103 -1,103 - 431,199 - % -71.67% -0.26% 140,000 1.10 1.10 -0.79 -0.79 0.00 0.00 3.0800 3.08   -167.71%   -225.37% 30-Nov-2016 2.46 223.78 -312.24 0.80 -0.32% 0.00% 09-Jan-2017 2.46 223.78 -312.24 0.80 -0.32% 0.00%
31-May-2017 24-Oct-2016 31-Aug-2016 1 4,084 2,137 1,629 1,629 - 433,999 - % 39.89% 0.38% 140,000 2.92 2.92 1.16 1.16 0.00 0.00 3.1000 3.10   433.13%   117.56% 30-Aug-2016 2.31 79.19 198.53 0.75 0.50% 0.00% 24-Oct-2016 2.44 83.64 209.70 0.79 0.48% 0.00%
31-May-2016 21-Jul-2016 31-May-2016 4 3,574 90 -489 -489 - 424,199 - % -13.68% -0.12% 140,000 2.55 2.55 -0.35 -0.35 0.00 0.00 3.0300 3.03   -101.55%   -196.83% 31-May-2016 2.29 89.70 -655.62 0.76 -0.15% 0.00% 21-Jul-2016 2.26 88.53 -647.03 0.75 -0.15% 0.00%
31-May-2016 13-Apr-2016 29-Feb-2016 3 34,189 32,382 31,467 31,467 - 422,799 - % 92.04% 7.44% 140,000 24.42 24.42 22.48 22.48 0.00 0.00 3.0200 3.02   0.00%   986.57% 29-Feb-2016 2.26 9.25 10.05 0.75 9.95% 0.00% 13-Apr-2016 2.29 9.38 10.19 0.76 9.82% 0.00%
31-May-2016 28-Feb-2016 3 34,189 32,382 31,467 31,467 - - - % 92.04% - % 140,000 24.42 24.42 22.48 22.48 0.00 0.00 - -   9,382.30%   986.57% 26-Feb-2016 2.26 9.25 10.05 0.00 9.95% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%
31-May-2016 13-Jan-2016 30-Nov-2015 2 2,832 82 -339 -339 - 413,000 - % -11.97% -0.08% 140,000 2.02 2.02 -0.24 -0.24 0.00 0.00 2.9500 2.95   96.35%   -106.91% 30-Nov-2015 2.32 114.69 -958.11 0.79 -0.10% 0.00% 13-Jan-2016 2.29 113.21 -945.72 0.78 -0.11% 0.00%
31-May-2016 28-Oct-2015 31-Aug-2015 1 3,440 -8,836 -9,279 -9,279 - 389,199 - % -269.74% -2.38% 140,000 2.46 2.46 -6.63 -6.63 0.00 0.00 2.7800 2.78   -1,937.43%   -527.21% 28-Aug-2015 2.13 86.69 -32.14 0.77 -3.11% 0.00% 28-Oct-2015 2.28 92.79 -34.40 0.82 -2.91% 0.00%
31-May-2015 30-Jul-2015 31-May-2015 4 3,874 962 505 505 - 406,000 - % 13.04% 0.12% 140,000 2.77 2.77 0.36 0.36 0.00 0.00 2.9000 2.90   -82.56%   -92.12% 29-May-2015 2.32 83.84 643.17 0.80 0.16% 0.00% 30-Jul-2015 2.24 80.95 620.99 0.77 0.16% 0.00%
31-May-2015 18-Mar-2015 28-Feb-2015 3 7,288 3,331 2,896 2,896 - 411,600 - % 39.74% 0.70% 140,000 5.21 5.21 2.07 2.07 0.00 0.00 2.9400 2.94   -41.01%   -85.65% 27-Feb-2015 2.40 46.10 116.02 0.82 0.86% 0.00% 18-Mar-2015 2.35 45.14 113.60 0.80 0.88% 0.00%
31-May-2015 27-Jan-2015 30-Nov-2014 2 7,120 5,328 4,909 4,909 - 420,000 - % 68.95% 1.17% 140,000 5.09 5.09 3.51 3.51 0.00 0.00 3.0000 3.00   126.01%   -13.22% 28-Nov-2014 2.38 46.80 67.88 0.79 1.47% 0.00% 27-Jan-2015 2.39 46.99 68.16 0.80 1.47% 0.00%
31-May-2015 10-Oct-2014 31-Aug-2014 1 3,526 1,770 2,172 2,172 - 429,799 - % 61.60% 0.51% 140,000 2.52 2.52 1.55 1.55 0.00 0.00 3.0700 3.07   -66.10%   80.40% 29-Aug-2014 2.43 96.48 156.63 0.79 0.64% 0.00% 10-Oct-2014 2.40 95.29 154.70 0.78 0.65% 0.00%
31-May-2014 09-Jul-2014 31-May-2014 4 9,278 6,782 6,407 6,407 - 426,999 - % 69.06% 1.50% 140,000 6.63 6.63 4.58 4.58 0.00 0.00 3.0500 3.05   -68.25%   -86.40% 30-May-2014 2.52 38.03 55.06 0.83 1.82% 0.00% 09-Jul-2014 2.50 37.72 54.63 0.82 1.83% 0.00%
31-May-2014 15-Apr-2014 28-Feb-2014 3 23,323 20,443 20,179 20,179 - 417,200 - % 86.52% 4.84% 140,000 16.66 16.66 14.41 14.41 0.00 0.00 2.9800 2.98   256.71%   285.24% 28-Feb-2014 2.37 14.23 16.44 0.80 6.08% 0.00% 15-Apr-2014 2.40 14.41 16.65 0.81 6.01% 0.00%
31-May-2014 10-Dec-2013 30-Nov-2013 2 7,680 6,028 5,657 5,657 - 422,799 - % 73.66% 1.34% 140,000 5.49 5.49 4.04 4.04 0.00 0.00 3.0200 3.02   369.85%   197.74% 29-Nov-2013 2.36 43.02 58.41 0.78 1.71% 0.00% 10-Dec-2013 2.36 43.02 58.41 0.78 1.71% 0.00%
31-May-2014 28-Oct-2013 31-Aug-2013 1 3,401 1,793 1,204 1,204 13,300 398,999 1,104.65% 35.40% 0.30% 140,000 2.43 2.43 0.86 0.86 9.50 9.50 2.8500 2.85   -97.44%   -52.88% 30-Aug-2013 2.37 97.56 275.58 0.83 0.36% 4.01% 28-Oct-2013 2.37 97.56 275.58 0.83 0.36% 4.01%
31-May-2013 02-Jul-2013 31-May-2013 4 49,684 47,622 47,120 47,120 - 418,600 - % 94.84% 11.26% 140,000 35.49 35.49 33.66 33.66 0.00 0.00 2.9900 2.99   799.58%   2,657.17% 31-May-2013 2.40 6.76 7.13 0.80 14.02% 0.00% 02-Jul-2013 2.39 6.73 7.10 0.80 14.08% 0.00%
31-May-2013 02-Apr-2013 28-Feb-2013 3 7,249 5,587 5,238 5,238 - 407,400 - % 72.26% 1.29% 140,000 5.18 5.18 3.74 3.74 0.00 0.00 2.9100 2.91   175.68%   41.30% 28-Feb-2013 2.25 43.45 60.14 0.77 1.66% 0.00% 02-Apr-2013 2.34 45.19 62.54 0.80 1.60% 0.00%
31-May-2013 21-Jan-2013 30-Nov-2012 2 3,841 2,198 1,900 1,900 - 404,600 - % 49.47% 0.47% 140,000 2.74 2.74 1.36 1.36 0.00 0.00 2.8900 2.89   -25.64%   -47.31% 30-Nov-2012 2.90 105.70 213.68 1.00 0.47% 0.00% 21-Jan-2013 2.28 83.10 168.00 0.79 0.60% 0.00%
31-May-2013 01-Nov-2012 31-Aug-2012 1 5,179 3,569 2,555 2,555 - 421,399 - % 49.33% 0.61% 140,000 3.70 3.70 1.82 1.82 0.00 0.00 3.0100 3.01   49.50%   -61.92% 30-Aug-2012 2.29 61.90 125.48 0.76 0.80% 0.00% 01-Nov-2012 2.32 62.71 127.12 0.77 0.79% 0.00%
31-May-2012 24-Jul-2012 31-May-2012 4 4,586 1,997 1,709 1,709 - 400,399 - % 37.27% 0.43% 140,000 3.28 3.28 1.22 1.22 0.00 0.00 2.8600 2.86   -53.90%   -45.10% 31-May-2012 2.86 87.31 234.29 1.00 0.43% 0.00% 24-Jul-2012 2.18 66.55 178.58 0.76 0.56% 0.00%
31-May-2012 30-Apr-2012 29-Feb-2012 3 5,514 4,009 3,707 3,707 - 398,677 - % 67.23% 0.93% 139,886 3.94 3.94 2.65 2.65 0.00 0.00 2.8500 2.85   2.80%   -27.16% 29-Feb-2012 2.85 72.30 107.55 1.00 0.93% 0.00% 30-Apr-2012 2.89 73.32 109.06 1.01 0.92% 0.00%
31-May-2012 21-Dec-2011 30-Nov-2011 2 5,515 3,989 3,606 3,606 - 373,179 - % 65.39% 0.97% 139,767 3.95 3.94 2.58 2.58 0.00 0.00 2.6700 2.67   -46.26%   194.37% 30-Nov-2011 2.67 67.67 103.49 1.00 0.97% 0.00% 21-Dec-2011 2.05 51.95 79.46 0.77 1.26% 0.00%
31-May-2012 13-Sep-2011 31-Aug-2011 1 9,205 7,694 6,710 6,710 - 368,419 - % 72.90% 1.82% 140,083 6.57 6.58 4.79 4.79 0.00 0.00 2.6300 2.63   115.55%   230.22% 29-Aug-2011 2.63 40.02 54.91 1.00 1.82% 0.00% 13-Sep-2011 2.02 30.74 42.17 0.77 2.37% 0.00%
31-May-2011 06-Jul-2011 31-May-2011 4 6,136 4,039 3,113 3,113 - 388,423 - % 50.73% 0.80% 140,225 4.38 4.38 2.22 2.22 0.00 0.00 2.7700 2.77   -38.83%   -90.05% 31-May-2011 2.77 63.30 124.77 1.00 0.80% 0.00% 06-Jul-2011 2.19 50.05 98.65 0.79 1.01% 0.00%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


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  5 people like this.
 
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ So can board members resign when they want to? The answer is yes⁠—except when they can’t.

In the worst-case situation where you know something is happening that hurts your shareholders, you are duty-bound to protect your shareholders and not abandon them… at least that’s what the Delaware court opinions suggest.


https://woodruffsawyer.com/do-notebook/yes-board-members-can-always-resign-except-when-they-cant/#:~:text=Sometimes%20a%20board%20member%20wants,possibly%20even%20facing%20corporate%20bankruptcy
26/11/2020 2:57 PM
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Just wondering why the spate of resignations of directors from iCap.

The timing of the previous Chairman's resignation is most unfortunate. He should have announced his resignation on a date after the AGM. He should have conducted the AGM as before. Many of the existing shareholders have supported and have faith in the Chairman; his resignation is rather perplexed to me at least, more so, just a few days before the AGM.

Hopefully, there will be clarity after the AGM on this Saturday.
26/11/2020 3:00 PM
enigmatic Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥,
Your portfolio consists of mainly growth companies acquired for the long haul, so I'm rather curious on your decision to invest in icapital berhad. This is the outlier in your collection of companies.
26/11/2020 3:27 PM
fairplay The statement"All costs involved in roadshow borne by Capital Dyanamics etc" is what is in Form. Fundanmental, it is the company or Shateholders of iCapital biz who pay Management and Advisory fees to the Fund Manager. This is the Substance
26/11/2020 3:30 PM
fairplay Urgent URGENT call to shareholders who are subscriber to MSWG. Please access the website Malaysia Shareholders Watch Group (org.my) to read MSWG letter dated 17-11-20 to our Board. They are very valid questions, asking for answers in AGM 28th November, in the interest of shareholders
Form your informed view and seek Justification at the AGM. Thank you
27/11/2020 10:42 AM
cnman53 KKG10Y ICap 在南洋商报的信函。
https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%B5%84...
KKG10Y先生
关于上文第2点,虽然招股书没提,但原本的公司章程173条款的确是说到了2020年,会让股东选择继续或解散基金。 而这第173条款的确是在2016年12届股东大会上被特别议案修改为展期至2025年才需要作延长与否。
为正视听,大家可以参考Bursa Malaysia 的 29-08-2016 资本投资12届大会通知的附录(Appendix),修改第173条款的确是以特别提案在12届大会通过。

在2017年第13届大会虽然也有特别提案修改章程,但173条款只是改号码而已。大家也可以查查2017 年资本投资在Bursa Malaysia 的通告的31-05-2017年报(年报附录2017年大会将修改的章程条文)。
里面只是将原来的172至174条款改为175至177, 文字没改。

所以2020年展期至2025 年才决定继续或解散的确是在2016年大会特别议案敲定的。
27/11/2020 6:34 PM
cnman53 https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%B5%84...
KKG10Y先生

Regarding the 2 and 3 points in iCapital.biz letter to eNanyang, although the Prospectus did not mention that come year 2020, the share owners can decide whether to continue to carry on the business of iCapital.biz or to wind up voluntarily, it was indeed stipulated in Article 173 of the original M&A.

And this Article 173 was indeed amended by special resolution in the 12th AGM in 2016, to the effect that the choice of continuing or automatically extending for further 5 years duration is thereby extended to start in year 2025, i.e. 5 years later.
To avoid misinterpretation, its best that you refer to the announcement made in Bursa Malaysia about the 12th AGM notice (the Appendix inside) dated 29-08-2016. But it is a bit tricky to read. Mind you.

In the 13th AGM in 2017, although there is a further amendment to the M&A (or Constitution now), the original Article 173 was amended by number only. There was no change in its content.
To avoid misinterpretation, again you are requested to refer to iCapital.biz Annual Report dated 31-05-2017 (with Appendix) in Bursa Malaysia. Again, a bit tricky to read.

Therefore the fact remains that the extension for making the decision to continue or not was indeed extended by 5 years from year 2020 to year 2025 through an amendment to the Article 173 in the 12th AGM 2016 by special resolution.
27/11/2020 7:00 PM
cnman53 https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%B5%84%E6%9C%AC%E6%8A%95%E8%B5%84%E5%8F%8D%E9%A9%B3%E6%8C%87%E6%8E%A7%E6%AD%A3%E8%A7%86%E5%90%AC

My above 2 comment refers to the above link.
27/11/2020 7:37 PM
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Have icap AGM provided good explanations to all the above questions today? Please share.
28/11/2020 12:59 PM
stockraider Stop wasting time in icap, just switch to insas hathaway better option loh....!!
28/11/2020 1:08 PM
cnman53 As I have told Mr DumbMoney, I had little hope that my questions will ever appear. Although I have sent in my first letter on 13 Nov 2020 and my second letter on 23 Nov 2020, none of them has managed to be tabled at the AGM. And seeing that my questions did not come out, I have also resent my questions on the spot. Yet they were swept under the carpet.

This is why I said before, in the AGM environment, there is not much chance for serious questions to be discussed. I had not harbored much hope before the AGM and now the result actually turned out as what I have anticipated.

As the disappointment is not unanticipated, I will continue to participate here and also put up more posting in my blog in future if there are more issues to be discussed.
28/11/2020 1:09 PM
cnman53 In the mean time, if some of you have access to discuss in eNanyang, please forward my observations on 27 Nov above to them.
28/11/2020 1:11 PM
cnman53 The above is on points of fact and can be checked from Bursa Announcement. Although to read the article wordings may need some patience. You also need to refer to the 2016 announcement for AGM as well as the 2017 announcement, plus their appendixes to piece them together .
28/11/2020 1:16 PM
stockraider Post removed. Why?
28/11/2020 1:18 PM
cnman53 Regarding the following earlier comment posted earlier:-

{{ KKG10Y,本来公司章程的173条款是说董事部需在2020年(就是第15周年)大会上提呈普通议案寻求是否延长自动清盘日期5年至2025年。不过在2016年第十二届大会上已经通过修改173条款,董事部只在2025年大会上才需要提呈延长5年的动议。所以股东们要擦亮双眼,多多关注公司动态。
25/11/2020 10:56 AM

KKG10Y ICap 在南洋商报的信函。
https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%B5%84...
KKG10Y先生
关于上文第2点,虽然招股书没提,但原本的公司章程173条款的确是说到了2020年,会让股东选择继续或解散基金。 而这第173条款的确是在2016年12届股东大会上被特别议案修改为展期至2025年才需要作延长与否。
为正视听,大家可以参考Bursa Malaysia 的 29-08-2016 资本投资12届大会通知的附录(Appendix),修改第173条款的确是以特别提案在12届大会通过。

在2017年第13届大会虽然也有特别提案修改章程,但173条款只是改号码而已。大家也可以查查2017 年资本投资在Bursa Malaysia 的通告的31-05-2017年报(年报附录2017年大会将修改的章程条文)。
里面只是将原来的172至174条款改为175至177, 文字没改。

所以2020年展期至2025 年才决定继续或解散的确是在2016年大会特别议案敲定的。
27/11/2020 6:34 PM

KKG10Y先生

Regarding the 2 and 3 points in iCapital.biz letter to eNanyang, although the Prospectus did not mention that come year 2020, the share owners can decide whether to continue to carry on the business of iCapital.biz or to wind up voluntarily, it was indeed stipulated in Article 173 of the original M&A.

And this Article 173 was indeed amended by special resolution in the 12th AGM in 2016, to the effect that the choice of continuing or automatically extending for further 5 years duration is thereby extended to start in year 2025, i.e. 5 years later.
To avoid misinterpretation, its best that you refer to the announcement made in Bursa Malaysia about the 12th AGM notice (the Appendix inside) dated 29-08-2016. But it is a bit tricky to read. Mind you.

In the 13th AGM in 2017, although there is a further amendment to the M&A (or Constitution now), the original Article 173 was amended by number only. There was no change in its content.
To avoid misinterpretation, again you are requested to refer to iCapital.biz Annual Report dated 31-05-2017 (with Appendix) in Bursa Malaysia. Again, a bit tricky to read.

Therefore the fact remains that the extension for making the decision to continue or not was indeed extended by 5 years from year 2020 to year 2025 through an amendment to the Article 173 in the 12th AGM 2016 by special resolution.
27/11/2020 7:00 PM

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%B5%84...

My above 2 comment refers to the above link.
27/11/2020 7:37 PM

In the mean time, if some of you have access to discuss in eNanyang, please forward my observations on 27 Nov above to them.
28/11/2020 1:11 PM

The above is on points of fact and can be checked from Bursa Announcement. Although to read the article wordings may need some patience. You also need to refer to the 2016 announcement for AGM as well as the 2017 announcement, plus their appendixes to piece them together .
28/11/2020 1:16 PM }}

All my above comment are now withdrawn because after further careful reading of the wordings in the original Article Clause 173, in the year 2020, the directors indeed need not propose for ordinary resolution to consider continuing for a further 5 year. Rather the directors only need to propose for such ordinary resolution 5 years later. i.e. year 2025. The amendment on Article 173 in 2016 has not changed this fact.

My sincere apology for the mistake and all the inconvenience caused to all of you.
29/11/2020 9:18 AM
cnman53 有关我在十一月廿七日至十一月廿八日在上面讲过有关资本投资章程第173的话,我要在此收回。
因为经过再三仔细研读原来章程条款173 之后,我发觉在原来的173条款里,公司董事的确没需要在2020年大会提出普通提案寻求是否继续5年,而是只在2025 年才需要如此做。

对于我的这个错误给大家引起诸多不便,我在此深深致歉!
29/11/2020 9:34 AM
JohnDough “Confucius’s disciples frequently asked him to define goodness. He would give each of them a different answer each time, depending on the situation. That’s because Confucian goodness is not something you can define in the abstract.

It’s the ability to respond well to others; the development of a sensibility that enables you to behave in ways that are good for those around you and to draw out their own better sides.

Confucius would not define goodness; he wanted his disciples to know that we must feel it in all these different, shifting situations to understand what it means to express it.

We have all felt it, and once we recognize it, we can develop it further”


The Path: What Chinese Philosophers Can Teach Us About the Good Life – Michael Puett and Christine Gross-Loh
29/11/2020 6:38 PM
fairplay John Dough - TTB dont preach Look into mirror and see whether Do what you talk about.
29/11/2020 6:54 PM
Evelyn11 reply to dumbMoney on 23 Nov:

i wish you could have the time to look at CLIM's announcement on Bursa Malaysia where CLIM indicated they are the buyers behind the nominees accounts.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3084685

their current holdings as of 27 Nov 2020 is 20.738%.
30/11/2020 8:40 AM
dumbMoney @Evelyn11 Get the company to disclose Sc's ruling on the matter so everyone is aware what the dispute is about.
30/11/2020 2:08 PM
veritasa I am new to this thread. cnman53 is very informative and makes a lot of sense. Keep it up.
30/11/2020 3:14 PM
vidusaka Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Have icap AGM provided good explanations to all the above questions today? Please share.

I attended the AGM and key questions were answered:

i) Don't need to wait until 2025 to wind up the fund. If shareowners want to wind up, can bring it up for a vote

ii) The dual listing fee was charged because IRB/tax office deemed dual listing fund expenses incurred from 2010 to 2016 should be borne by ICAP/closed end fund, not by fund manager. Also, the RM6.68 mln charged was already discounted because the real expenses were over RM12 mln. The difference will be absorbed by the fund manager.

iii) The JR is to seek court interpretation on securities commissions’ guidelines for closed end funds' 20% shareholding limit

iv) The annual report showing significant unrealised losses on boustead and parkson is due to accounting treatment which doesn't take into account dividends, spin-offs etc. For boustead, when dividends, partial share sales of boustead in the past and free pharmaniaga shares etc. are added back, ICAP investment in boustead is actually positive. For parkson, a chunk of shares were received from lion diversified share distribution. So adding lion diversified 6+ bagger sale, partial share sales of parkson in the past, cash dividends and treasury shares, parkson is underwater by less than RM2 mln. This means even a slight improvement in Parkson's share price will result in a gain, and it will be in positive position just like boustead.
02/12/2020 7:53 PM
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ >>>>>>

The dual listing fee was charged because IRB/tax office deemed dual listing fund expenses incurred from 2010 to 2016 should be borne by ICAP/closed end fund, not by fund manager. Also, the RM6.68 mln charged was already discounted because the real expenses were over RM12 mln. The difference will be absorbed by the fund manager.

>>>>>>


Looks like cnman53 is right. iCap shareholders were surprised by this dual listing expenses.
02/12/2020 11:11 PM
fairplay Vidusaka and attendees of AGM, please share details for full understanding of 'dual-listing' on the following:
1) What was the Scheme or Corporate structures to effect or implement "dual listing"
2) How does shareholders in iCapital benefit from 'dual-listing' scheme?
3) Was an application for public listing of concerned fund or public company Submitted to the foreign stock exchange? What is this foreign stock exchange?
Thank you
03/12/2020 8:56 AM
JohnDough “Mr. Buffett reported performance numbers to his partners once a year on December 31. This is highly unusual. Mutual funds report daily and most hedge funds report monthly.

Mr. Buffett’s annual reporting makes all the sense in the world to me. Real business change takes months, if not years. If you invest in a business, you ought to be quite content to get a datapoint on its valuation once a year.

Most entrepreneurs have no idea what their businesses are worth.”


The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai
06/12/2020 9:02 PM
JohnDough "Clearly the pure investor must hold his security for long periods, while the pure speculator must sell promptly, if each is to get what he seeks.

If the investor chooses his holdings wisely, he can make quite as much money as the speculator. In fact, he can probably make more, or so it would seem from the history of great fortunes.

But to buy when a security goes below its true worth, and to sell when it goes above it, is not enough to constitute wise investment, for such a policy would put the buying and selling points very close together, and in the end would yield no more than pure interest on the fund so invested.

Wise investments requires that only such issues as are selling far below their true worth should be bought; then, as large income payments are received in subsequent years because things turn out better for the security than most people expected, a handsome return on the principal can be enjoyed."


The Theory of Investment Value by John Burr Williams
13/12/2020 1:16 PM
Nepo Cash per share (31 May 2020) = RM 1.83
NAV (9 Dec 2020) = RM3.07
Share price now RM 2.08
price discount RM3.07-RM2.08/RM2.08 = 47.6%

Why some people are selling..?
That is why sb mentioned that most people are stupid..they are short-termers
17/12/2020 9:58 AM
idunwork I have been accumulating icap. What did it do right this time that the nav up up up ?
17/12/2020 9:29 PM
JohnDough “If I was fortunate in the assortment of talents I brought to financial analysis, I was equally fortunate in the epoch in which I entered Wall Street. When I started, investment was almost entirely limited to bonds. Common stocks, with relatively few exceptions, were viewed primarily as vehicles for speculation.

Nonetheless, a considerable amount of window dressing began to be arrayed around common stocks, to impart some aura of respectability to what was previously considered a near relative of the gambling casino. Detailed information on operations and finances was beginning to be supplied by corporations, either voluntarily or to conform with stock exchange requirements.

The financial services had begun to present this material in convenient forms in their manuals and current publications. But in 1914 this mass of financial information was largely going to waste in the area of common-stock analysis. The figures were not ignored, but they were studied superficially and with little interest.

What counted most was inside information of various kinds – some of it relating to business operations, new orders, anticipated profits and the like, but more of it to the current activities and plans of the market manipulators – the famous “they” who were held responsible for all the significant moves, up and down, in every important stock.

To old Wall Street hands it seemed silly to pore over dry statistics when the determiners of price change were thought to be an entirely different set of factors – all of them very human.

But for a variety of reasons – not the least being the improvement in the financial strength of large industrial companies resulting from World War I – intrinsic value and investment merit were destined to assume increasing important in common-stock analysis after 1914. As a newcomer – uninfluenced by the distorting traditions of the old regime – I could respond readily to the new forces that were beginning to enter the financial scene.

I learned to distinguish between what was important and unimportant, dependable and undependable, even what was honest and dishonest, with a clearer eye and better judgement than many of my seniors, whose intelligence had been corrupted by their experience.

To a large degree, therefore, I found Wall Street virgin territory for examination by a genuine, penetrating analysis of security values.”


The Memoirs of the Dean of Wall Street by Benjamin Graham
20/12/2020 4:53 PM
dynamic Post removed. Why?
20/12/2020 4:57 PM
jeffyc Post removed. Why?
20/12/2020 4:59 PM
0411 Post removed. Why?
20/12/2020 5:02 PM
stockraider Correct loh....!!

Raider trying very hard to find one more pretty than insas but cannot find any better loh...!!

Just go for insas it is the best mah...!!


Posted by leno > Dec 18, 2020 10:54 AM | Report Abuse

...
....' an old man was trying to find his wife in a very big supermarket, and he bump into another man who also lost his wife there. The man describe his wife to the old man .. very pretty, sexy, wearing onli underwear, nothing else ....what is your wife look like ? The old man answer, forget mine, let's go find yours...'

remember .... net cash alone already RM 1.16
Can u show me any other counter trading below net cash ?
If u can show me, please, but don't waste time trying to find one.
20/12/2020 5:02 PM
stockraider INSAS IS A MISUNDERSTOOD STOCK LOH....!!

IF U LOOK BACK AT INSAS FOR PAST 10 YEARS, IT HAS BEEN CREATING VALUE NON STOCK ALMOST EVERY YEAR WITH INCREASING SHAREHOLDER FUND MAH...!!

THATS THE REASONS WHY ITS NTA GROW FROM RM 1.00 SAY 10 YEARS AGO TO ALMOST RM 4.00- 5.00 AS AT NOW MAH...!!

INSAS BIGGEST WINNER LIKE INARI, CONTRIBUTE MORE THAN RM 1.4B MARKET CAP & SMALLER WINNER LIKE SENGENIC CAN CONTRIBUTE MORE THAN RM 60M LOH...!!

SMALL INVESTMENT LIKE OMESTI & DGSB ARE DOING EXTREMELY WELL LOH...!!

INSAS IS LIKE BERKSHIRE HATHAWAY BUSINESS MODEL LOH...!!

BUT UNLIKE BERSHIRE, ACTUALLY INSAS IS BETTER IT PAYS DIVIDEND BUT BERSHIRE DON'T PAY LOH...!!

THOSE INVESTING IN INSAS IS GETTING COMPOUND GROWTH RETURN AVERAGING 10 TO 12% PA EVERY YEAR LOH....!!

IF U BUY INSAS NOW U R PAYING RM 0.90 FOR A FAIR VALUE OF RM 4.00 IN INSAS LOH....!!

A GREAT INVESTMENT LOH...!!

BUT MOST EXCITING PART THIS INSAS IS GROWING WITH GOOD PROFITABILITY MAH!

LETS BE HONEST , PUT UR HEAD & THINK LOH...!!
IF BELOW FACTS & FIGURE IS NOT SHAREHOLDERS FUND GROWING U THINK THE MANAGEMENT OF INSAS TALKCOCK MEH ??

Just look at the amazing growth track record of value creation of insas for the past 10 yrs

Sept 2020- Nta Rm 2.75

June 2019- Nta Rm 2.62

Dec 2018- Nta Rm 2.54

Dec 2017..Nta rm 2.49

Dec 2016 ...Nta Rm 2.18

Dec 2015..Nta Rm 1.96

Dec 2014..Nta rm 1.82

Dec 2013 nta..rm 1.71

Dec 2012 nta ..rm 1.51

Dec 2011 nta..rm 1.38

Dec 2010 nta...rm 1.22

Dec 2009 nta ..rm 1.14

INSAS IS GROWING STRONGLY MAH....ONLY THOSE PEOPLE DO NOT UNDERSTAND BERKSHIRE HATHWAY BUSINESS MODEL ARE SAYING INSAS HATHWAY BUSINESS MODEL ARE LOUSY LOH...!!

BUT INSAS BUSINESS MODEL ARE SAME SAME MAH, IN FACT INSAS GENERATE COMPOUND EARNINGS OF 12% PA SAME SAME AS BERKSHIRE WOH..!!...HOW COULD BE BERKSHIRE VERY GOOD & INSAS VERY BAD LEH ??
20/12/2020 5:03 PM
deMusangking stockraider@
sell insas n buy netx!!!!
haha
20/12/2020 5:04 PM
Nepo I dont like this co mgt..too conservative.
I bought and hold this co because it is extremely undervalued.

If u look US ARK investment methodology..u will know what i am talking about..
21/12/2020 9:59 AM
JohnDough “Some companies will conduct their affairs so as to gain the greatest possible profit right now. Others will deliberately curtail maximum immediate profits to build up goodwill and thereby gain greater overall profits over a period of years.

Treatment of customers and vendors give frequent examples of this. The company that will go to special trouble and expense to take care of the needs of a regular customer caught in an unexpected jam may show lower profits on the particular transaction, but far greater profits over the years.

The investor wanting maximum results should favor companies with a truly long-range outlook concerning profits.”


Common Stocks and Uncommon Profits by Philip A. Fisher
27/12/2020 2:02 PM
stockraider IF U LOOK BACK AT INSAS FOR PAST 10 YEARS, IT HAS BEEN CREATING VALUE NON STOCK ALMOST EVERY YEAR WITH INCREASING SHAREHOLDER FUND MAH...!!

THATS THE REASONS WHY ITS NAV GROW FROM RM 1.00 SAY 10 YEARS AGO TO ALMOST RM 5.00 AS AT NOW MAH...!!

INSAS BIGGEST WINNER LIKE INARI, CONTRIBUTE MORE THAN RM 1.4B MARKET CAP & SMALLER WINNER LIKE SENGENIC CAN CONTRIBUTE MORE THAN RM 60M LOH...!!

SMALL INVESTMENT LIKE OMESTI & DGSB ARE DOING EXTREMELY WELL LOH...!!

INSAS IS LIKE BERKSHIRE HATHAWAY BUSINESS MODEL LOH...!!

BUT UNLIKE BERSHIRE, ACTUALLY INSAS IS BETTER IT PAYS DIVIDEND BUT BERSHIRE DON'T PAY LOH...!!

THOSE INVESTING IN INSAS IS GETTING COMPOUND GROWTH RETURN AVERAGING 10 TO 12% PA EVERY YEAR LOH....!!

IF U BUY INSAS NOW U R PAYING RM 0.90 FOR A FAIR VALUE OF RM 4.00 IN INSAS LOH....!!

A GREAT INVESTMENT LOH...!!

BUT MOST EXCITING PART THIS INSAS IS GROWING WITH GOOD PROFITABILITY MAH!

LETS BE HONEST , PUT UR HEAD & THINK LOH...!!
IF BELOW FACTS & FIGURE IS NOT SHAREHOLDERS FUND GROWING U THINK THE MANAGEMENT OF INSAS TALKCOCK MEH ??

Just look at the amazing growth track record of value creation of insas for the past 10 yrs

Sept 2020- Nta Rm 2.75

June 2019- Nta Rm 2.62

Dec 2018- Nta Rm 2.54

Dec 2017..Nta rm 2.49

Dec 2016 ...Nta Rm 2.18

Dec 2015..Nta Rm 1.96

Dec 2014..Nta rm 1.82

Dec 2013 nta..rm 1.71

Dec 2012 nta ..rm 1.51

Dec 2011 nta..rm 1.38

Dec 2010 nta...rm 1.22

Dec 2009 nta ..rm 1.14

INSAS IS GROWING STRONGLY MAH....ONLY THOSE PEOPLE DO NOT UNDERSTAND BERKSHIRE HATHWAY BUSINESS MODEL ARE SAYING INSAS HATHWAY BUSINESS MODEL ARE LOUSY LOH...!!

BUT INSAS BUSINESS MODEL ARE SAME SAME MAH, IN FACT INSAS GENERATE COMPOUND EARNINGS OF 12% PA SAME SAME AS BERKSHIRE WOH..!!...HOW COULD BE BERKSHIRE VERY GOOD & INSAS VERY BAD LEH ??

REMEMBER INSAS IS BOTH A GROWTH & VALUE INVESTMENT, IT HAVE SHOWN BOTH GROWTH & VALUE QUALITIES LOH!!

Value investing is to buy a fair company at a great price. Their valuation is often at a relatively low point, which comes with the PE ratio between 5 to 10. These companies still have a strong fundamental but their growth will be limited, as trend may not be on their side. However, since their valuation is very low, there are not much risk when investing in these companies, and the return may be exceptional as they have a lot of growing potential. Value investors will often buy the stock when they are undervalued and sell their shares when they are overvalued.

Growth investing on the other hand is to buy a great company at a fair price. Their valuation is often higher, which will lie between 30 to 80. Some companies from this category may have a strong fundamental, but their borrowings will also be high as they tend to borrow money from banks in order to expand their business. That being said, there are also growth stocks that are net cash companies and still constantly growing. The risk when investing in growth stocks is higher as uncertainties are higher. If the growth is sustainable then you got yourself a fantastic investment, but if let say their expansion failed to kick in, the company may suffer losses, and investors will also suffer the capital losses. Growth investors will often buy the stock when their potential is just revealing, and will sell the stock when their growth reached a bottleneck.

The writer will not say which is better, but it all depends on the risk you are willing to take. Obviously, value investing will have a lower risk but may have a lower return than growth investing. Some examples can be provided for both cases, both MAGNI and MASTER are considered as value investing as their PE ratio is lesser than 10, and have a strong fundamental. For growth investing, GREATEC and UWC can be considered as it, since their PE ratio is higher than 70 bu
27/12/2020 2:03 PM
stockraider THIS IS PRECISELY WHAT RAIDER SAID LOH..!!
MARGIN OF SAFETY INVESTMENT REALLY WORKS LIKE WHAT WARREN BUFFET SAYS!!

A VERY IMPORTANT FINANCIAL LESSON MAH....!!


"From Warren own word: My cigar-butt strategy worked very well while I was managing small sums. Indeed, the many dozens of free puffs I obtained in the 1950s made that decade by far the best of my life for both relative and absolute investment performance
Most of my gains in those early years, though, came from investments in mediocre companies that traded at bargain prices. Ben Graham had taught me that technique, and it worked. But a major weakness in this approach gradually became apparent: Cigar-butt investing was scalable only to a point. With large sums, it would never work well."
CORRECTLOH IMAGINE IF U PUMP RM 400M TO INSAS U ALMOST TAKEOVER THE COMPANY MAH...!! BUT WHAT IF U PUMP RM 200K TO RM 10M IT IS PERFECTLY FEASIBLE MAH...!!

Many of the retail investors in i3 are small sum investor thus nothing wrong if they follow Ben Graham’s investments in mediocre companies that traded at bargain prices. CORRECTLOH RETAIL SHOULD USE MARGIN OF SAFETY INVESTMENT LOH,....!!

.
The conglomerate controlled by Warren E. Buffett suffered losses of $25.4 billion in the fourth quarter, according to Berkshire’s annual report that was released on Saturday.
Problems at Kraft Heinz, which on Thursday reported weak fourth-quarter earnings and a $15.4 billion write-down, also weighed on Berkshire, which owns a nearly 27 percent stake in the food company.BLACK SWAN EVENT MAY HAPPEN AND THE RISK HIGH IF U OVER CONCENTRATE ON 1 STOCK MAH!

A word of caution keeping cash is also a form of prudent and conservative investment. Remember during the past market crash many people wish he/she had hold cash and spoil for choice to buy wonderful companies at the fraction of its price. YES KEEP SOME OF CASH BUT DO NOT FOLLOW SOOCHAI ICAP WHEN U KEEP EXCESS DO NOT KNOW HOW TO USE LOH..!
01/01/2021 4:08 PM
JohnDough “To his family’s amusement and surprise, by the spring of 1942, his hoard totaled $120. Enlisting his sister Doris as a partner, he bought three shares of a stock for each of them, costing him $114.75 for his three shares of Cities Service Preferred.

“I didn’t understand that stock very well when I bought it” he says; he knew only that it was a favourite stock that Howard had sold to his customers for years.

The market hit a low that June, and Cities Service Preferred plunged from $38.25 to $27 a share. Doris, he says, “reminded” him every day on the way to school that her stock was going down.

Warren says he felt terribly responsible. So when the stock finally recovered, he sold at $40, netting a $5 profit for the two of them. “That’s when I knew that he knew what he was doing” Doris recalls.

But Cities Service quickly soared to $202 a share. Warren learned three lessons and would call this episode one of the most important of his life.

One lesson was not to overly fixate on what he had paid for a stock. The second was not to rush unthinkingly to grab a small profit. He learned these two lessons by brooding over the $492 he would have made had he been more patient.

It had taken five years of work, since he was six years old, to save the $129 to buy this stock. Based on how much he currently made from selling golf balls or peddling popcorn and peanuts at the ballpark, he realized that it could take years to earn back the profit he had “lost”. He would never, never, never forget this mistake.

And there was a third lesson, which was about investing other people’s money. If he made a mistake, it might get somebody upset at him. So he didn’t want to have responsibility for anyone else’s money unless he was sure he could succeed.”


The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
03/01/2021 10:14 AM
Nepo If Icap shares worth to keep as recommended by ttb, why co don't consider purchase of own shares..?
04/01/2021 11:40 AM
stockraider Insas a very safe recovery play stock with big margin of safety and bright growth prospect mah....!!

Remember to join the party & get your ticket early loh...!!
04/01/2021 11:42 AM
dumbMoney @Nepo Here's the maths. If company buys back 10% shares at market price of 2.22 versus NAV of 3.10, shareholders make 40% on the repurchase if shares are cancelled. But TTB loses 10% of his fee income!
04/01/2021 7:21 PM
JohnDough “To win, the first thing you have to do is not lose. That is my own distillation of one of Graham’s first principles. It sounds absolutely simplistic. Of course you shouldn’t lose if you want to win. There is more to it than that.

This is a rational statement in a rational world, even though Keynes once said there was nothing more disastrous than a rational investment policy in an irrational world. Graham does not do much to feed the fantasies of those who would, say, turn five thousand into a quarter of a million.

He starts with the supposition that your money is at risk; the first thing you must do is not lose your money, even before you think about making more with it.

The joys of compounding are there if you keep your stake growing, but all you need to have is one year in which you give back half, and your program, at the same growth rate, must stretch out years and years longer.”


Supermoney by Adam Smith
10/01/2021 1:26 PM
JohnDough “After all the panic in 2020, the NAV of icapital.biz Bhd ended the year more or less at the same value as when it ended 2019. On 31 Dec 2020, its NAV was RM3.10, compared with RM3.12 at the end of 2019.

If one had not been told that there is a fierce pandemic ravaging the world community, one would, based on the NAV of icapital.biz Bhd, be forgiven for thinking that it has been business as usual as its NAV bounced back to the pre-pandemic crash level. Of course, the underlying reality has been very different.

Unfortunately, the market price of icapital.biz Bhd in 2020 performed differently, as it reflected a different reality, one that is based on misguided perceptions, instead of facts. Its price fell more than 8% from its 31 Dec 2019 closing price when it should have risen.

2020 was also a year when some stocks on the stock exchange went berserk and traded in a right-angle fashion. It was not just the glove companies, which one could argue is based on fundamental reasoning, whether one agrees with it or not. Prices of some other companies surged without any fundamental rhyme or reason.

Bursa Malaysia was like a market where investors know the price of everything but value of none.”


icapital.biz Berhad 2Q21 report – Commentary by Fund Manager
17/01/2021 12:50 PM
stockraider Instead of singing praises for mediocre Icap and bad corporate governance for icap, u should start singing strong praises for insas hathaway loh!

Why leh ??

Both the Nta & NAV have grown tremendously to Rm 2.73 & Rm 4.75 per share mah!
It also beat the KLCI & pays a dividend of 2 den beating fixed deposits return in addition it trade at PE lower than 10x loh!!

Insas share price also beat klci in terms of price appreciations.

If u compare insas hathaway v Icap....it would put icaps to shame in all counts loh!!.

How did insas outperformed against icaps leh ??

Market is right for looking down on icaps loh!!


Posted by JohnDough > Jan 17, 2021 12:50 PM | Report Abuse

“After all the panic in 2020, the NAV of icapital.biz Bhd ended the year more or less at the same value as when it ended 2019. On 31 Dec 2020, its NAV was RM3.10, compared with RM3.12 at the end of 2019.

If one had not been told that there is a fierce pandemic ravaging the world community, one would, based on the NAV of icapital.biz Bhd, be forgiven for thinking that it has been business as usual as its NAV bounced back to the pre-pandemic crash level. Of course, the underlying reality has been very different.

Unfortunately, the market price of icapital.biz Bhd in 2020 performed differently, as it reflected a different reality, one that is based on misguided perceptions, instead of facts. Its price fell more than 8% from its 31 Dec 2019 closing price when it should have risen.

2020 was also a year when some stocks on the stock exchange went berserk and traded in a right-angle fashion. It was not just the glove companies, which one could argue is based on fundamental reasoning, whether one agrees with it or not. Prices of some other companies surged without any fundamental rhyme or reason.

Bursa Malaysia was like a market where investors know the price of everything but value of none.”


icapital.biz Berhad 2Q21 report – Commentary by Fund Manager
17/01/2021 1:34 PM
stockraider Instead of singing praises for mediocre Icap and bad corporate governance for icap, u should start singing strong praises for insas hathaway loh!

Why leh ??

Both the Nta & NAV have grown tremendously to Rm 2.73 & Rm 4.75 per share mah!
It also beat the KLCI & pays a dividend of 2 sen beating fixed deposits return in addition it trade at PE lower than 10x loh!!

Insas share price also beat klci in terms of price appreciations.

If u compare insas hathaway v Icap....it would put icaps to shame in all counts loh!!.

How did insas outperformed against icaps leh ??

Market is right for looking down on icaps loh!!


Posted by JohnDough > Jan 17, 2021 12:50 PM | Report Abuse

“After all the panic in 2020, the NAV of icapital.biz Bhd ended the year more or less at the same value as when it ended 2019. On 31 Dec 2020, its NAV was RM3.10, compared with RM3.12 at the end of 2019.

If one had not been told that there is a fierce pandemic ravaging the world community, one would, based on the NAV of icapital.biz Bhd, be forgiven for thinking that it has been business as usual as its NAV bounced back to the pre-pandemic crash level. Of course, the underlying reality has been very different.

Unfortunately, the market price of icapital.biz Bhd in 2020 performed differently, as it reflected a different reality, one that is based on misguided perceptions, instead of facts. Its price fell more than 8% from its 31 Dec 2019 closing price when it should have risen.

2020 was also a year when some stocks on the stock exchange went berserk and traded in a right-angle fashion. It was not just the glove companies, which one could argue is based on fundamental reasoning, whether one agrees with it or not. Prices of some other companies surged without any fundamental rhyme or reason.

Bursa Malaysia was like a market where investors know the price of everything but value of none.”


icapital.biz Berhad 2Q21 report – Commentary by Fund Manager
17/01/2021 1:36 PM
Thinkcarefully Icap exists solely for the benefits of TTB.To those invested in icap I would strongly advise to shift your money to Insas. I would even advise TTB to shift icap money in FD to Insas.Short to medium term your returns easily 15-20%.Buy before ex-date of RPS and free warrants probably end of the month.
17/01/2021 3:26 PM
fairplay The recent appointment of a person who is with CDAM as Director of iCapital is negative, in my view. There may be situation(s) of Conflict of interest. How are Shareholders to be assured that Priority is placed on Safeguarding interests of shareholders of iCapital. Remember there is a fiduciary duty due to shareholders, besides her getting director's fees from iCapital
20/01/2021 1:46 PM
dumbMoney Why should iCapital share price go up when it can't even beat the KLCI's 2.4% gain last year before counting dividend yield of the index stocks?
22/01/2021 1:38 AM