kcchongnz blog
Is QL Resources worth investing now? kcchongnz
“To be a value investor, you must buy at a discount from underlying value. Analyzing each potential value investment opportunity therefore begins with an assessment of business value.” (Seth Klarmen, Margin of Safety, page 121).
Posted by qqq3 > Jan 17, 2019 04:26 PM | Report Abuse 
[value here value there....can buy Vitrox or QL or not at any stage in the last few years?
value here value there....I remember in 2017, when asked, KC recommends people to sell Vitrox at $ 3 after the surge from $2 to $ 3..( all adjusted prices)....It has never been "cheap". Good shares are never "cheap"
yes, PE is one of the factors to consider when buying a share. On average u don't buy a PE 50 share because at that rate it takes 50 years of earnings to be equivalent to the price....The key words being " on average"
But , it is your job as investor, if u want to make good money, is to find the exceptional shares....not the average shares.
If are satisfied with average performance, then be an average investor la.....we are talking about those with above average intelligence and above average ambitions.]
I was bemused (again) reading the above comment from the loudest noise in i3investor mentioning my name KC Chong again. Let me ask him when and where in i3investor that “KC recommends people to sell Vitrox at $ 3 after the surge from $2 to $ 3”?
In fact, let me ask him when and where KC has “recommended” to buy or sell any share in i3investor?
You made a fake statement like that, all the time, isn’t it fair that you must look through all my articles, 350 of them, and all my comments, 14,130 of them, and find a statement that I have recommended to sell Vitrox, or any share for that matter? If you don’t do that, and can’t find that, what shall I call you? A serial liar and that you have been telling lies all the time in i3investor?
Isn’t that shameful for a 60+ year old retired “accountant” to tell lies without blinking your eyes?
I have written an article on the pitfalls of PE ratio as below,
https://klse.i3investor.com/blogs/kcchongnz/63417.jsp
I hope you can also write something to share rather than just shouting buy high PE ratio stocks!
Ok, let come to the real stuff.
Low PE or high PE?
The statement by triple q above implies that a man with “above average intelligence” will buy a share with a PE at least above 50 like that of Vitrox and QL, and those who are below average intelligence will buy a stock with low PE. It also indirectly implies that those stocks with high PE will make extra-ordinary return and vice versa.
May I ask what evidence you have for the above assertion, that those investors who have bought high PE stocks all are rich people and those invested in low PE are all pok kais? Can show us some research findings ah?
If you can’t do that, can I say you are just a loud mouth good-for-nothing, or a serial liar?
Yes, I am a value investor, I agree, and yes, I “value here and value there”.
Value investors look for two things, not just one. We also look for a good story first but it doesn’t end there. We want to see some numbers too. A great story must also come with some great numbers. That is just what we value investors do, and you can’t blame us. Your knd of panic moment, dynamite investing, sailing and margin type of investor, need not follow us. Do what you like, but don’t carry out personal attack and telling lies.
Here, I will teach you something for free. Yes, it is value here, and value there again. Let me just use QL as an example, your favorite now. What a big improvement from your previous sailing and margin on Jaks and Sendai. Congrats!
QL Resources
Some time in early of the year 2018, a few of my course participants were trying to organize another retreat when we would share investment ideas and invite corporate speakers to give us talk about their company business. I personally invited QL Resources as I have the opinion that QL is one of the best companies listed in Bursa which has been creating long-term shareholder value. Hence, there is no argument about the story of QL. It was trading below RM4.00 then as shown in Figure below.
Sentiment
Price = Value + Sentiment
The PE ratio of QL was about 30 then, I think. QL share price has risen to RM6.90, or for a gain of more than 70% from a year ago, despite the rout in Bursa. The PE ratio is now 54. The profit before tax (PBT) for year 2018 ended 31st march was actually 2% lower than the previous year at RM255.3m. For the first half of financial year 2019, PBT was marginally higher by 3% only.
So what drove the share price so much higher?
It appears that investors are more bullish about its future resulting in the expansion of the PE ratio from less than 30 to 54 now.
The average PE ratio of QL for the last 10 years was about 25-30, with a compounded annual growth rate (CAGR) of slightly less than 10%.
The question is how much more the PE ratio can expand, or is it likely the law of mean reversion will take place resulting a shrinking of the PE ratio to its historic figure?
Another question is how much more growth it will attain, and for how long a period, taking into consideration that as a company grows bigger, it makes it harder to grow faster, and more likely to slow down.
I know, it has some plantations with young trees, and it is growing its Family Mart chain with more stores opening. Its other core businesses are also expanding. But what are your numbers?
PEG
Peter Lynch, one of the greatest fund managers in Wall Street in the 1990s popularized the term Price-earnings-growth ratio in his book “One Up Wall Street”.
Everything equal, a high growth company deserves a higher market valuation, provided the growth is quality growth of which the return on capitals is higher than its cost, otherwise it is shareholder value destroying. The return on capitals of QL has been about 10%, not bad, but nothing great to me.
Historic PEG = 54/10 = 5.4 >>1.0
Is this PEG great?
Of course, the future growth is more important, but what is your number?
Private Market Value
Seth Klarmen in his book “Margin of Safety” says that "A frequently used but flawed shortcut method of valuing a going concern (compared to present value) is known as private-market value. This is an investor's assessment of the price that a sophisticated businessperson would be willing to pay for a business. Investors using this shortcut, in effect, value businesses using the multiples paid when comparable businesses were previously bought and sold in their entirety."
I have written an article about this valuation at the firm level in the link below,
https://klse.i3investor.com/blogs/kcchongnz/84689.jsp
Warren Buffett mentioned before, the fair EV/EBIT is 7 for a normal company. My rough estimate of QL’s EV is about 34 times its operating profit for the last twelve months. As a value investor, I do not think this is a fair value, even taking into consideration of its great growth story. Do you?
Price-to-book
Few investors care about this valuation metric. It is not that important for an ongoing business. Any how we just discuss a little bit here.
Price-to-book = 6.85/1.12 = 6.1
As a value investor, I sometimes look at this way. If I require a return of 10% investing in a company, I am willing to pay a price twice its book value if it can obtain a ROE of 20%, twice my required return.
Fair price = ROE/Require return * Book value =15/10*1.12, assuming ROE improves to 15% this year
This definitely not a good metric if you decide to invest in QL.
Absolute Valuation
The above valuation methods are not really true valuations, but rather relative price comparison. They can be used as good guides to quickly decide if a company is selling cheap or expensive, or if worth investing.
John Burr Williams, in his book “The Theory of Investment Value”, written over 60 years ago, set forth the equation for value, which is condense below,
“The value of any stock, bond, or business today is determined by the cash inflows and outflows—discounted at an appropriate interest rate—that can be expected to occur during the remaining life of the asset.”
This principle is widely used by many super investors, analysts and investment bankers. We can do this too with some educated assumptions if we wish. I have done it too for QL.
Conclusion
Value investors look at two things as equally important; a good story, and some numbers to decide on investing in good or great companies at fair prices, and better if they are selling cheap. We do see this happened during some crisis in the past, and even during normal time and now. I should have invested in QL during the financial crisis in 2008 and hold it for long-term, but nothing to regret about as you win some and you lose some. Maybe I even got better return in other stocks.
Will the share price continue to go up, faster than the rest of the stocks? I really don’t have a clue.
But at this price, I can only keep it in my To-be-reviewed file for the time being. You may buy more if you wish.
To me, the most risky thing in investing is to buy something at high price.
Good luck.
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Discussions
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probability...your signature is the crack spread...to this day, I still don't understand it.....can u repeat?
2019-01-19 14:56
Your teacher did not teach u properly loh...!!
Posted by qqq3 > Jan 19, 2019 02:54 PM | Report Abuse
me?
I got original ideas....and I am not long winded like u , raider.
2019-01-19 14:57
>>>>
Posted by stockraider > Jan 19, 2019 02:24 PM | Report Abuse
U NEED TO ASK THIS VERY INTELLIGENT QUESTION WHY INSAS IS MUCH SUPERIOR THAN MOST OF THE BLUECHIPS & GROWTH STOCK MAH ?? :
Posted by stockraider > Jan 18, 2019 08:19 PM | Report Abuse X
U ask yourself what type of earning power ??
When Nestle earnings yield is less than 2% pa based on PE above 50%...even u put monies in fixed deposits u get an earning power of 4% pa mah....!!
If u buy insas got earning power as Pe less than 10x...earning yield already exceed 10% pa mah...!!
<<<<<
Raider is a very poor student.
Though working for Neoh Soon Kean, he learned little from his master.
When you invest for the long term, you are aiming to profit from the earning power of the company over the long term.
Of course, the earning power of Nestle is better than Insas over the long term. This should be immediately obvious. Nestle has durable competitive advantage, backed by the world's number one food and beverage manufacturer, its brand and good research and development of new products besides a first grade management.
Earnings yield is just the reciprocal of P/E. We have discussed P/E already in other posts. It is not earning power.
2019-01-19 15:13
Raider already ask loh....ur nestle earnings yield 2.6% pa v insas 14% pa the gap is so wide, when & how u going catch up leh ?
Yes u may say growth but how much growth u going to churn mah ??
Maybe if the earnings yield of 7% v 14% i can accept as a compromise loh....!!
Logical or not leh ?
3iii comment:
Raider is a very poor student.
Though working for Neoh Soon Kean, he learned little from his master.
When you invest for the long term, you are aiming to profit from the earning power of the company over the long term.
Of course, the earning power of Nestle is better than Insas over the long term. This should be immediately obvious. Nestle has durable competitive advantage, backed by the world's number one food and beverage manufacturer, its brand and good research and development of new products besides a first grade management.
Earnings yield is just the reciprocal of P/E. We have discussed P/E already in other posts. It is not earning power.
2019-01-19 15:20
but those accumulated nestle has been huat like pig head wor, while those who brought insas, everyday only hope for it to go to RM1.00 and sell it.....that's the reality...no?
2019-01-19 15:25
U need to understand this loh...Nestle getting about div yield of about 2.5% pa and the earnings yield is about 2.6% pa mah but the fixed deposits rate is 4% pa....how long do u think the nestle shareholder decide to sell either place in fixed deposits or buy more insas like stocks with return exceeding 14% pa loh....!!
Insas yield 14% pa n they are paying 3% pa dividend yield whereas fixed deposits is 4% pa, yes div lower than fd but the earnings yield much higher, meaning going fwd insas can afford much higher div payout and their retained profit will continue to grow & huge going fwd loh...!!
That means insas is in a sense a growth stock mah...!!
Posted by lizi > Jan 19, 2019 03:25 PM | Report Abuse
but those accumulated nestle has been huat like pig head wor, while those who brought insas, everyday only hope for it to go to RM1.00 and sell it.....that's the reality...no?
2019-01-19 15:33
>>>
Posted by lizi > Jan 19, 2019 03:25 PM | Report Abuse
but those accumulated nestle has been huat like pig head wor, while those who brought insas, everyday only hope for it to go to RM1.00 and sell it.....that's the reality...no?
>>>
Already mentioned in past too, raider is a lousy student.
2019-01-19 15:40
It should also be immediately obvious from this forum that no one is more interested and careful of your money, than yourself.
Everyone takes care of his/her own money. You have deep interest in your own money and that should be obvious.
Do you think raider and/or calvin (and others too) are here to help you make money as their primary motivation? If you say yes, you are naive.
Of course, their primary interest is to ensure safety of their own money and hopefully too, to make more money from the situations.
So do not be fooled that you can get a good outcome by following others blindly. Yes, listen to what they are promoting but ALWAYS do your own homework and ALWAYS make your own decision.
No one cares more about your money than YOURSELF.
2019-01-19 15:44
U r looking at old success that is already factor in the share price mah....!!
U should start scouting for new growth stock if u believe in growth investment mah...!!
Posted by 3iii > Jan 19, 2019 03:40 PM | Report Abuse
>>>
Posted by lizi > Jan 19, 2019 03:25 PM | Report Abuse
but those accumulated nestle has been huat like pig head wor, while those who brought insas, everyday only hope for it to go to RM1.00 and sell it.....that's the reality...no?
>>>
Already mentioned in past too, raider is a lousy student.
2019-01-19 15:48
This is a classic 3iii arguement, after losing debate based on facts n figure, he will try to suppress discussion by painting a bad picture of raider loh...!!
A really chicken approach mah...!!
Posted by 3iii > Jan 19, 2019 03:44 PM | Report Abuse
It should also be immediately obvious from this forum that no one is more interested and careful of your money, than yourself.
Everyone takes care of his/her own money. You have deep interest in your own money and that should be obvious.
Do you think raider and/or calvin (and others too) are here to help you make money as their primary motivation? If you say yes, you are naive.
Of course, their primary interest is to ensure safety of their own money and hopefully too, to make more money from the situations.
So do not be fooled that you can get a good outcome by following others blindly. Yes, listen to what they are promoting but ALWAYS do your own homework and ALWAYS make your own decision.
No one cares more about your money than YOURSELF.
2019-01-19 15:52
Do you think raider was in pain and agony when he asked you to buy Hengyuan at $15 because his intrinsic value for Hengyuan was $45 and that you should not miss out of the deal of the century?
Similarly, do you think Calvin was worried you may not be rich because you did not buy PMCorp at 15 sen because he was 100% certain it was worth at least 50 sen, with all the mathematics thrown in?
2019-01-19 15:54
Do you think 3iii was in pain and agony when he asked you to sell Hengyuan at $3 because his intrinsic value for Hengyuan was $2 and that you should run b4 the share price further collapse ?
If u have listen to 3iii to sell at Rm 3.00, u would not have the opportunity to sell when hengyuan rm 6.00, 8.00, 10.00, 12.00, 15.00 & 19.00 loh...!! U may have missed out of the deal of the century loh...!!
2019-01-19 15:59
Dear all,
Repost: Jan 17, 2019 06:02 PM | Report Abuse
Dear 3iii
I quote your comment: qqq3: interesting chap, though gets a lot of brickbats from his adversaries, nonetheless his postings have some depth, in particular with regard to human nature and some investing strategies.” unquote
Please read with your both eyes open wide-wide “You –Know –Who” blogs and thousand and thousand of comments: Sailang, Margin Finance, X factor, Dynamic investment, flexibility, PLP king, envy of OTB and KCChong success and trolling OTB and KC with all sort of low blows, inflammatory and digressive, extraneous and often off-topic slanders to try to impressed and pleased his ex-master KYY. Now everyone knew he is just a chicken trader. Tell me how to be as rich as KYY and drive a Rolls-Royce if he admitted now his investing strategy is PLP super-investor and hope to receive some crumb from super-investor. LOL
Have you heard “You-Know-Who” acknowledge his mistake and make apology for promoting day and night non-stop with sailang and margin finance in JAKS and SENDAI? He is still behaves as he had done no wrong and his shameless behavior is second to none and can even outgunned our shameless MO1 to shame and still has the gut to boast about it and talk cock in i3.
Posted by qqq3 > Nov 2, 2018 01:43 AM | Report Abuse
kc u fail to understand, Jaks and Sendai are the 2 counters I made the most money...and why not? when I know the chong ker.....and I have the killer instinct..........
Thank you.
2019-01-19 15:59
so ? ss guy...what u want from me?
pity? compensate u? sorry...no such thing from me.
2019-01-19 16:09
SSlee,
This bcos plp king angkat 3iii, he is trying to be just as tactful to u as he can, without antagonising plp king loh...!!
Posted by 3iii > Jan 19, 2019 04:06 PM | Report Abuse
>>>
Posted by Sslee > Jan 19, 2019 03:59 PM | Report Abuse
Dear all,
Repost: Jan 17, 2019 06:02 PM | Report Abuse
Dear 3iii
I quote your comment: qqq3: interesting chap, though gets a lot of brickbats from his adversaries, nonetheless his postings have some depth, in particular with regard to human nature and some investing strategies.” >>
I noted qqq3 gets a lot of brickbats from many in this forum. Many of these are justified. I do not know this fellow well, having only interacted with him recently because he showed up at my thread.
Nevertheless, some of his posts led me to these conclusions as I stated. Do give me some room to form some independent assessment. I understand we cannot be agreement on everything.
2019-01-19 16:11
>>>>
Posted by stockraider > Jan 19, 2019 03:59 PM | Report Abuse
Do you think 3iii was in pain and agony when he asked you to sell Hengyuan at $3 because his intrinsic value for Hengyuan was $2 and that you should run b4 the share price further collapse ?
If u have listen to 3iii to sell at Rm 3.00, u would not have the opportunity to sell when hengyuan rm 6.00, 8.00, 10.00, 12.00, 15.00 & 19.00 loh...!! U may have missed out of the deal of the century loh...!!
>>>>>
I believe the majority of players lost money in Hengyuan on the aggregate.
http://www.investlah.com/forum/index.php/topic,50774.msg988778.html#msg988778
Topic: Patimas (7042) ~ TP 30 cents (Read 265152 times)
Read this thread for those who wish to understand the pump and dump of stocks by interested parties and syndicates. Very valuable lessons can be obtained from this long but well documented thread in investlah. In particular, look at the stories keep being fed to keep the play going. In the end, the manipulators disappeared.
Your most feared person in the stock market is the manipulator.
You must know the game you wish to play.
Good luck.
2019-01-19 16:12
correct or not ??
majority make money loh....!!
They are given ample time to run....in fact raider also make alot of sell call from Rm 13.00 to Rm 8.00 to lari kuat kuat too loh...!!
In fact when raider make sell call above Rm 13.00, this 3iii belittle raider, creating so much noise, that some buyers may be confused or deceived by him loh...!!
This 3iii is a vety vengeful and deceiving person, out to take revenge at all cost loh....without looking at the plight of buyer loh...!!
Posted by 3iii > Jan 19, 2019 04:12 PM | Report Abuse
>>>>
Posted by stockraider > Jan 19, 2019 03:59 PM | Report Abuse
Do you think 3iii was in pain and agony when he asked you to sell Hengyuan at $3 because his intrinsic value for Hengyuan was $2 and that you should run b4 the share price further collapse ?
If u have listen to 3iii to sell at Rm 3.00, u would not have the opportunity to sell when hengyuan rm 6.00, 8.00, 10.00, 12.00, 15.00 & 19.00 loh...!! U may have missed out of the deal of the century loh...!! >>>>>
I believe the majority of players lost money in Hengyuan on the aggregate.
http://www.investlah.com/forum/index.php/topic,50774.msg988778.html#ms...
Topic: Patimas (7042) ~ TP 30 cents (Read 265152 times)
Read this thread for those who wish to understand the pump and dump of stocks by interested parties and syndicates. Very valuable lessons can be obtained from this long but well documented thread in investlah. In particular, look at the stories keep being fed to keep the play going. In the end, the manipulators disappeared.
Your most feared person in the stock market is the manipulator.
You must know the game you wish to play.
Good luck.
2019-01-19 16:21
https://amp.businessinsider.com/images/515b40886bb3f7bd49000013-750-602.jpg
I think this graph depicts a similar pattern what Hengyuan and its players went through recently.
2019-01-19 16:26
U need to know 3iii was a green eye monster having seen hengyuan shoot up to shocking rm 19.00 despite him making sell call at rm 3.00 few months earlier loh...!!
When hengyuan price came down, he has been quietly celebrating, when raider say cut or sell call, he purposely & evilly belittle raider to confuse many investors from running from safety loh...!!
The point is why 3iii make so much noises when raider say cut loss or run at rm 13.00, when 3iii only believe hengyuan is worth only rm 3.00 leh ??
He should be happily concur with raider to sell, instead of arguing & belittling when raider say run hengyuan at Rm 13.00 loh.
The reason points to bad faith and out for revenge this 3iii without looking at many hengyuan investors interest loh....!!
2019-01-19 16:36
I remember in 2017, when asked, KC recommends people to sell Vitrox at $ 3 after the surge from $2 to $ 3..( all adjusted prices)
===========
kc...one day , someone who also read that will come and support me.....then how?
2019-01-19 17:11
3ii, you can say i speak emotions lor....example, when market had been too pessimistic on hengyuan like you were...
unless you invest as Index fund...we cannot runaway from this element on predicting the imbalance on market emotions...
i think you are the same lor...just that you capitalize on mild emotions than ecstatic ones like me and raider do...
2019-01-19 17:23
Posted by qqq3 > Jan 19, 2019 05:11 PM | Report Abuse
I remember in 2017, when asked, KC recommends people to sell Vitrox at $ 3 after the surge from $2 to $ 3..( all adjusted prices)
===========
kc...one day , someone who also read that will come and support me.....then how?
You see you are damn shallow in your investing. What is your point here? Just to tell that I asked people to sell at RM3.00 and now is RM5.00? What use is this? What benefit is there? That you have a good prediction of the future in share price? But what use is that? You behave just like a 3 year old boy. I can't believe that there are still a couple of people, seemingly good in investing ones, still believe you have something. OMG!
But this is a serious credibility issue here for you. How can you be so stupid until like that. Just search in i3investor.
"You made a fake statement like that, all the time, isn’t it fair that you must look through all my articles, 350 of them, and all my comments, 14,130 of them, and find a statement that I have recommended to sell Vitrox, or any share for that matter? If you don’t do that, and can’t find that, what shall I call you? A serial liar and that you have been telling lies all the time in i3investor?
Isn’t that shameful for a 60+ year old retired “accountant” to tell lies without blinking your eyes?
2019-01-19 17:51
Posted by kcchongnz > Jan 19, 2019 05:51 PM | Report Abuse
You see you are damn shallow in your investing. What is your point here? Just to tell that I asked people to sell at RM3.00 and now is RM5.00?
===========
$ 6.50, not $5
I am surprised u forgot your own post....even if it is one in 14,000....another one I remember is MagniTech.
2019-01-19 17:56
Posted by qqq3 > Jan 19, 2019 05:56 PM | Report Abuse X
Posted by kcchongnz > Jan 19, 2019 05:51 PM | Report Abuse
You see you are damn shallow in your investing
==========
I am driving home the point, value here value there, cannot keep good shares....cannot enjoy double baggers....let alone multiple baggers like QL
2019-01-19 18:05
Malaysian analysts...value here, value there, tp here, tp there....they , collectively make money or not last year?
kc?
2019-01-19 18:08
Posted by soojinhou > Jan 19, 2019 10:50 AM | Report Abuse
And qqq3, you are a waste of oxygen for the amount of spam you left in i3. Not only you spew nonsense, you spew so much of it it makes it difficult to sift through real content. The i3 community is worse off for the amount of digital waste created by you.
SSLEE
Please read with your both eyes open wide-wide “You –Know –Who” blogs and thousand and thousand of comments: Sailang, Margin Finance, X factor, Dynamic investment, flexibility, PLP king, envy of OTB and KCChong success and trolling OTB and KC with all sort of low blows, inflammatory and digressive, extraneous and often off-topic slanders to try to impressed and pleased his ex-master KYY. Now everyone knew he is just a chicken trader. Tell me how to be as rich as KYY and drive a Rolls-Royce if he admitted now his investing strategy is PLP super-investor and hope to receive some crumb from super-investor. LOL
Have you heard “You-Know-Who” acknowledge his mistake and make apology for promoting day and night non-stop with sailang and margin finance in JAKS and SENDAI? He is still behaves as he had done no wrong and his shameless behavior is second to none and can even outgunned our shameless MO1 to shame and still has the gut to boast about it and talk cock in i3.
Posted by qqq3 > Nov 2, 2018 01:43 AM | Report Abuse
kc u fail to understand, Jaks and Sendai are the 2 counters I made the most money...and why not? when I know the chong ker.....and I have the killer instinct..........
2019-01-19 18:21
Stockraider was calling hengyuan worth RM 50 per share before the collapse. Just saying.
2019-01-19 18:22
Posted by qqq3 > Jan 19, 2019 06:08 PM | Report Abuse
Malaysian analysts...value here, value there, tp here, tp there....they , collectively make money or not last year?
kc?
Aren't you showing more about your naivety in investing?
Which investing strategy makes money all the time, all the years, even in a bad year in 2018?
I know, I know, you will say you have made money. Okay lah just take your words you made money last year. But how much can you make by buying at 50 sen and sell at 51 sen, and repeat?
Have you ever wonder at this age of 60+ and after retirement, you have just a pittance left for investing, but a loud mouth in talking?
2019-01-19 18:39
kc...how much money I have is none of your business....but I have eyes too....
2019-01-19 20:14
whole bunch of kc look-a-likes...One guy go and buy QL, like end of the world for them....I wonder why?
2019-01-19 20:28
PE 50 is a bit too high for a company which do not have economic moat.
2019-01-20 01:29
goh kim hock , ur name same as mmsv big shareholder :p
are you a big mmsv shareholder?
2019-01-20 01:34
@lazycat not me la. Just happened to be same name only le..i where got so lucky..
2019-01-20 01:39
When my taxi driver told me he bought into bitcoin, I knew it’s time to bailout.
Now the tea lady tells me QL is overpriced, ....time to jump in
No disrespect to both....
2019-01-22 16:22
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stockraider
i thought u r the biggest polluter ??
Posted by qqq3 > Jan 19, 2019 02:49 PM | Report Abuse
raid, don't pollute the place every u go....
2019-01-19 14:50