Good Articles to Share
iCAP 2017 Annual Report - investbullbear
Saturday, 19 August 2017
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The portfolio of your Fund, as at 31 May 2017, ranked in terms of the market value of each stock and the quantity held, is shown in Charts 1 and 2 below. Chart 1: Market Value of Holdings as at 31 May 2017 (RM ‘000) |
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| Padini | 66,690 | ||||
| Boustead | 32,192 | ||||
| Suria | 19,691 | ||||
| F&N | 12,588 | ||||
| MSC | 11,753 | ||||
| Tongher | 9,389 | ||||
| Selprop | 8,282 | ||||
| Parkson | 6,177 | ||||
| APM | 5,838 | ||||
| MKH | 3,379 | ||||
| Oceancash | 1,628 | ||||
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Chart 2: Size of Holdings as at 31 May 2017 (‘000 shares) |
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| Padini | 19,000 | ||||
| Boustead | 12,148 | ||||
| Parkson | 10,742 | ||||
| Suria | 9,244 | ||||
| MSc | 2,902 | ||||
| Tongher | 2,579 | ||||
| Oceancash | 2,230 | ||||
| Selprop | 1,666 | ||||
| APM | 1,421 | ||||
| MKH | 1,357 | ||||
| F&N | 518 | ||||
ii. INVESTMENTS SOLD
For the financial year ended 31 May 2017, your Fund sold 900,000 shares of Tong Herr Resources Berhad, generating a loss of RM65,336.95 with a cost of RM1.810 million.
As at 31 May 2017, your Fund invested RM107.326 million with a market value of RM177.605 million, giving unrealised gains of RM87.513 million.
Of your Fund’s investments as at 31 May 2017, Boustead Holdings Berhad, Fraser & Neave Holdings Bhd, Malaysia Smelting Corporation Berhad, Padini Holdings Berhad, Suria Capital Holdings Berhad and Tong Herr Resources Berhad have substantial unrealised gains out of which Padini Holdings Berhad has the highest substantial unrealised gain of RM61.2 million.
iii. INVESTMENTS MADE
For the financial year ended 31 May 2017, your Fund made 4 new investments shown in Chart 3. These were
- APM Automotive Holdings Berhad,
- MKH Berhad,
- Oceancash Pacific Berhad, and
- Selangor Properties Berhad.
| Chart 3: Purchases made after 31 May 2016 (‘000 shares) | |||||
| Oceancash | 2,230 | ||||
| Selprop | 1,666 | ||||
| APM | 1,421 | ||||
| MKH | 1,251 | ||||
Your Fund received 511,538 shares as share dividends from Parkson Holdings Berhad and 3,470,796 shares as share dividends from Boustead Holdings Berhad.
Your Fund also subscribed to 53,010 rights shares and received 106,020 bonus shares from the rights subscription of MKH Berhad.
v. PERFORMANCE: NAV & MARKET PRICE
From 1 June 2016 to 31 May 2017, the NAV per share of your Fund increased from RM3.01 to RM3.31 (a gain of 10%) and the market price increased from RM2.31 to RM2.64 (a gain of 14%). In the same period, FBMKLCI gained 9%.
The performance of icapital.biz Berhad since its listing is shown in Tables 1 and 2.
Table 1 : Cumulative Return From 19 Oct 2005 To
Ending Date... Fund's NAV (%)... Fund's Market Price (%)... FBMKLCI (%)... Fund’s Cash Level (%)
31-May-17............ 242.53........................ 172.11........................... 93.17..................... 61.29
Table 2 : Annualised Return From 19 Oct 2005 To
Ending Date ... Fund's NAV (%) ... Fund's Market Price (%) ... FBMKLCI (%)... Fund’s Cash Level (%)
31-May-17 ..................11.18........................ 9.00 ...............................5.83 ...................... 61.29
Chart 6 : Performance as at 31 May 2017 (from the peak in 8 Jul 2014)
FBMKLCI -6.70%
ICAP NAV +7.82%
ICAP Price +6.02%
Chart 6 shows the performance of the FBMKLCI from its peak on 8 July 2014 until 31 May 2017, and the NAV and share price of icapital.biz Berhad during the same period.
The FBMKLCI lost 6.70%, your Fund’s NAV appreciated 7.82%, and its price increased 6.02%.
LONG TERM CAPITAL APPRECIATION
icapital.biz Berhad is a long-term capital appreciation fund, managed based on an eclectic value investing philosophy.
For those who are familiar with long-term value investing, there will be times when this time-proven investing style will yield superior returns, and there will be times when it will yield lower returns.
Even Buffett’s Berkshire Hathaway experiences such phases. We often read about Warren Buffett’s impressive longterm performance but one needs to bear in mind the times when Berkshire Hathaway was not performing.
In June 1998, Berkshire Hathaway traded at a high of US$84,000 per ‘A’ share. More than seven years later, it traded at a high of US$84,600 or a measly gain of less than 1% in total.
In that same period, the S&P 500 gained 8.6%, measured from a high of 1,145 points in June 1998 and a high of 1,243 points in September 2005.
Investors who are not long-term focused or not genuine value investors would have been disappointed with Buffett’s performance (Berkshire Hathaway was having US$35.96 billion cash in 2003) and could have called for his retirement.
Fortunately for Berkshire Hathaway, it has plenty of like-minded investors who have stayed with Warren Buffett (in March 2009, Berkshire Hathaway fell to a low of US$70,050).
A good fund manager should not get distracted by shorter-term noises; similarly, share owners who believe in long-term value investing should not get distracted by shorter-term investors.
For your Fund to succeed year in, year out, attracting the right share owners is very crucial.
DIRECTORS
The name of the directors of your Fund who served during the financial year until the date of this report are as follows:-
1. Datuk Ng Peng Hong @ Ng Peng Hay
2. Dato’ Seri Md Ajib Bin Anuar
3. Dato’ Tan Ang Meng
4. Dato’ Sri Syed Ismail Bin Dato’ Haji Syed Azizan
5. Leong So Seh
6. David Loo Kean Beng (Retired on 24.9.2016)
7. Harun Bin Halim Rasip (Retired on 24.9.2016)
| Directors Fees | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total (RM) 315,437 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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4.4 IMPAIRMENT
(a) Impairment of Financial Assets All financial assets (other than those categorised at fair value through profit or loss), are assessed at the end of each reporting period whether there is any objective evidence of impairment as a result of one or more events having an impact on the estimated future cash flows of the asset.
For an equity instrument, a significant or prolonged decline in the fair value below its cost is considered to be objective evidence of impairment.
An impairment loss in respect of held-to-maturity investments and loans and receivables financial assets is recognised in profit or loss and is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
An impairment loss in respect of available-for-sale financial assets is recognised in profit or loss and is measured as the difference between its cost (net of any principal payment and amortisation) and its current fair value, less any impairment loss previously recognised in the fair value reserve.
In addition, the cumulative loss recognised in other comprehensive income and accumulated in equity under fair value reserve, is reclassified from equity to profit or loss.
With the exception of available-for-sale equity instruments, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.
In respect of available-for-sale equity instruments, impairment losses previously recognised in profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss made is recognised in other comprehensive income.
5. INVESTMENTS
2017 (RM) 2016 (RM)
At market value:-
Quoted securities in Malaysia, at 1.6.2016/2015 126,022,371 145,596,798
Additions during the financial year 17,736,550 6,321,817
Disposals during the financial year (1,809,579) (10,609,805)
Changes in fair value adjustments 35,656,138 (15,286,439)
Quoted securities in Malaysia, at 31.5.2017/2016 177,605,480 126,022,371
Impairment loss recognised due to fair value changes 1,821,075 12,506,585
7. SHORT-TERM DEPOSITS
2017 (RM) 2016 (RM)
Deposits with licensed financial institutions 282,769,489 302,759,351
The deposits with licensed financial institutions of your Fund at the end of the reporting period bore effective interest rates ranging from 3.35% to 3.60% (2016 - 2.90% to 3.65%) per annum.
The deposits with licensed financial institutions have maturity periods ranging from 1 to 3 months (2016 - 1 to 3 months).
Significant Related Party Transactions and Balances
Other than those disclosed elsewhere in the financial statements, your Fund also carried out the following significant transactions with the related parties during the financial year:-
2017 (RM) 2016 (RM)
Fund management fees paid to CDAM 3,263,523 3,075,342
Investment advisory fees paid to CDSB 3,263,523 3,075,342
Prepayment to CDAM and CDSB Note: 6 1,207,808 1,131,427
Thirty Largest Shareholders
No. Name No. of shares Percentage holding (%)
1. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR EMERGING MARKETS COUNTRY FUND 4,891,200 3.4937
2. CHONG AH HIM @ CHONG KUM KWAN 4,711,500 3.3654
3. TUNKU SARA BINTI TUNKU AHMAD YAHAYA 2,800,000 2.0000
4. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR THE WORLD MARKETS UMBRELLA FUND PLC 2,670,500 1.9075
5. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR GLOBAL EMERGING MARKETS FUND 2,273,200 1.6237
6. HSBC NOMINEES (ASING) SDN BHD TNTC FOR UNITED MINE WORKERS OF AMERICA 1974 PENSION TRUST 2,101,300 1.5009
7. ANNHOW HOLDINGS SDN BHD 2,000,000 1.4286
8. MAYBANK NOMINEES (TEMPATAN) SDN BHD YEOH AH TU 1,910,200 1.3644
9. LAM FOOK SHIN 1,832,200 1.3087
10. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR EMERGING MARKETS GLOBAL FUND 1,661,300 1.1866
11. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR SCHOOL EMPLOYEES RETIREMENT SYSTEM OF OHIO 1,574,100 1.1244
12. OCUVAS SDN.BHD. 1,370,000 0.9786
13. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR CORNELL UNIVERSITY 1,357,400 0.9696
14. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR EMERGING MARKETS INVESTABLE FUND 1,284,300 0.9174
15. LEOW KOK MEOW & SONS SENDIRIAN BERHAD 1,250,000 0.8929
16. HENG KIM SIANG 1,238,100 0.8844
17. WONG YOON TET 1,080,000 0.7714
18. VOHRAH - MERICAN SDN BHD 1,078,200 0.7701
19. LAI HUI ENG 1,058,400 0.7560
20. TONG CHONG KONG 1,041,000 0.7436
21. LEE SIEW LIN 1,038,000 0.7414
22. SOON KHIAT VOON 1,002,000 0.7157
23. LOH KIAN CHONG 1,000,000 0.7143
24. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR UNIVERSITY OF PITTSBURGH 961,000 0.6864
25. CARTABAN NOMINEES (ASING) SDN BHD EXEMPT AN FOR RBC INVESTOR SERVICES TRUST (CLIENTS ACCOUNT) 895,900 0.6399
26. YEOH AH TU 832,200 0.5944
27. DB (MALAYSIA) NOMINEE (ASING) SDN BHD BNYM SA/NV FOR DESERET MUTUAL MASTER RETIREMENT PLAN 828,700 0.5919
28. DB (MALAYSIA) NOMINEE (ASING) SDN BHD THE BANK OF NEW YORK MELLON FOR CITIGROUP PENSION PLAN 824,500 0.5889
29. HSBC NOMINEES (ASING) SDN BHD TNTC FOR THE TRUSTEES OF THE HENRY SMITH CHARITY 791,500 0.5654
30. CAPITAL DYNAMICS ASSET MANAGEMENT SDN BHD 739,000 0.5279
Total 48,095,700 34.35
Posted by investbullbear at 00:07
http://myinvestingnotes.blogspot.my/2017/08/icap-2017-annual-report.html
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Discussions
Be the first to like this. Showing 30 of 30 comments
No one can predict when great market crash will come, but if u cry wolf many time, surely one day it will come loh....!!
Our local warlann TTB of Icap had been predicting market crash, mkt crash since 2010....now 2017 also no crash loh...!!
Since he is preparing for crash he kept more than 60% cash for the dooms days loh....!!
This local warlann miss alot of opportunity loh....!!
In fact mkt composite is around 1560 in 2011, compare with the index now 1776,in fact he would have done well, just systematically investing in the stock market alone dumb dumb, even without considering his skill of stock picking loh..!!
Btw the local warlann is a good stock picker...he pick good stock like vitrox, wellcall when it is a penny stock etc, but the problem, is that he time the mkt badly loh....!!
In addition his other sin is he sell his winners and keep his losers loh...!!
Ben Graham and Warren Buffet suggested investors not to time the market when investing, always invest basing on finding good margin of safety fundamental stock and or growth stock with good prospect without looking at the state of the mkt or timing.
The day u cannot find anymore good stock to invest basing on your margin of safety formula, that means mkt is overvalue loh....!!
Overvalue is measure as an automatic value mechanism & not a mkt timing mechanism loh....!! (Mr Value not Mr Mkt}
Coming back to mkt crash, one day it will come...if u fear don fully invest loh....raider suggest u invest upto max 80% and balance keep liquid in instrument loh...!!
But don under invest bcos long run equity always win loh..!!....raider suggest u keep min 50% in equity loh...!!
2017-08-20 10:56
Coming back to icap in 2010, if icap worry & freeze about mkt crash...then icap would not had pick & buy Hengyuan at that time which trade at an overvalue Rm 10.40 to Rm 11.00 at pe 35x loh......!!
Thus icap is right not buying into HRC, which is overvalue in 2010, thus avoided major embrrassment unlike EPF, but icap was wrong not investing in other undervalue and growth prospect companies at that time, when there are plenty of good picks loh...!!
The point raider highlight here is..why 2010 Shell deserve PE 30x when its EPS is only Rm 0.35 leh ??
This PE 30x in 2010 is even higher than Pet DAG overvalue Pe 24x today loh..!!
Then why mkt fear in 2017 & say HRC overvalue today when it trade at only PE 4x with Eps of Rm 2.00 today leh ???
Why within a short period of 7 years the valuation of Hengyuan can swing for PE 30x to PE 2x(the price that kyy buy) leh ??
The answer is Mr Market mood is unpredictable & changes very fast loh..!!
U need to understand the business prospect and the value of business b4 u can take advantage mah....!!
Thats why u must have business sense & know how to value business b4 can be successful loh...!!
A good investors make big monies not only from buying into undervaluation, but they also benefit alot from upward rerating of stock, when the stock showed good performance loh...!!
2017-08-20 11:49
Why Icap not disposing Parkson? Who sell at 53 sen? Affin Bank? So Affin Bank is actual loss?
2017-08-20 12:24
@stockraider,
u must be joking when u said ttb is a good stock picker, rite???
this chief joker went to add parkson while reducing pet dag from 2006-2010 while his tong herr is still a paper loss of half mil after 10 yrs.
his only golden hit was and still holding is padini.
if he is a good stock picker as he said he is, his record proves otherwise. even a monkey paid rm1 of peanuts might do better than him.
2017-08-20 12:41
i can tell you that this guy definitely is not a good stockpicker. I can pick better than him if given similar authority and position.
2017-08-20 13:42
Investing is like sex, everyone is so sure of themselves that they are better than TTB.
'Every job looks easy when you're not the one doing it' - Jeff Immelt, GE Corp
2017-08-20 13:47
Posted by joetay > Aug 20, 2017 12:41 PM | Report Abuse
@stockraider,
u must be joking when u said ttb is a good stock picker, rite???
this chief joker went to add parkson while reducing pet dag from 2006-2010 while his tong herr is still a paper loss of half mil after 10 yrs.
his only golden hit was and still holding is padini.
if he is a good stock picker as he said he is, his record proves otherwise. even a monkey paid rm1 of peanuts might do better than him.
NOT TRUE LOH....TTB IS A GOOD STOCK PICKER...RAIDER HAS UPMOST RESPECT..JUST THAT TTB GOT SWAYED FROM STOCK PICKING...AND TRYING TO TIME THE MARKET LOH...!!
HIS GOOD PICKS ARE PET DAG,INTEGRAX, F&N, VITROX,PADINI, WELLCALL ALL THESE STOCKS CONTRIBUTE A FEW BAGGERS RETURN LOH...!!
HIS PICKS GOT SO SUCCESSFUL AND HAVE SO MUCH GAINS....THAT HE CAN AFFORD TO SIT 7 YEARS & DO NOTHING BUT STILL CLAIM REASONABLE RETURN....BCOS OF PAST FEW SUCCESSFUL PICK HE MAKE EARLIER MAH...!!
2017-08-20 15:04
stockraider, Warlan TTB sounds like real WBuffet Guru. ... you really laugh die me...
2017-08-20 15:06
The Investment Portfolio of iCapital.biz Berhad - investbullbear
Author: Tan KW | Publish date: Sat, 19 Aug 2017, 04:45 PM
Saturday, 19 August 2017
INVESTMENT PORTFOLIO of iCAP
As of 31 May 2017, your Fund has not invested in unlisted investments and all other investments apart from securities listed on Bursa Malaysia Securities Berhad. The investment objectives and policies of your Fund have been consistently applied to its investment portfolio. Details of the investment portfolio of your Fund are as follows :-
Companies .... Shares .... Cost (RM) ....Value (RM)
....Impairment Loss (RM) .... Unrealised Profit/ (Loss) (RM)
1 APM Automotive Holdings Berhad.... 1,420,500.... 5,306,991.... 5,838,255
.... - .... 531,264
2 Boustead Holdings Berhad ....12,147,786.... 27,444,475 ....32,191,633
.... - .....4,747,158
3 Fraser & Neave Holdings Berhad ....517,600 ....3,923,846 ....12,588,032
.... - ....8,664,186
4 Malaysia Smelting Corp Berhad ....2,902,000 ....10,082,424 ....11,753,100
.... (2,392,124) ....4,062,800
5 MKH Bhd ....1,356,830.... 3,436,689 ....3,378,507
.... - .... (58,182)
6 Oceancash Pacific Bhd.... 2,230,000 ....1,249,861.... 1,627,900
.... - .... 378,039
7 Padini Holdings Berhad.... 19,000,000 .... 5,490,389.... 66,690,000
.... - .... 61,199,611
8 Parkson Holdings Berhad ....10,742,298 .... 21,202,731 .... 6,176,821
.... (14,327,660) .... *(698,249)
9 Selangor Properties Berhad ....1,666,400 .... 7,743,009 .... 8,282,008
.... - .... 538,999
10 Suria Capital Holdings Berhad ....9,244,400 .... 15,400,153 .... 19,690,572
.... - .... 4,290,419
11 Tong Herr Resources Berhad.... 2,579,300.... 6,045,732.... 9,388,652
.... (513,988) .... 3,856,908
Total
Cost (RM) 107,326,299
Value (RM) 177,605,480
Impairment Loss (RM) (17,233,772)
Unrealised Profit/ (Loss) (RM) 87,512,953
IMPAIRMENT LOSS
Parkson RM (14,327,660)
Tong Herr RM (513,988)
MSC RM (2,392,124)
Total RM (17,233,772)
As at 31 May 2017, impairment loss on investment in Parkson Holdings Berhad was RM14,327,660 due to decline in market value of Parkson Holdings. The market value as at 31 May 2017 was RM6,176,821 and the cost was RM21,202,731. This is considered significant under FRSIC issued Consensus 14 – Impairment of Investment in Equity Instrument categorised as Available-for-Sale Financial Asset. A decline in fair value below the original cost of the equity instrument that had persisted for more than 9 to 12 months would generally be considered as “Prolonged” and hence, be impaired. *As at 31 May 2017, the net unrealised loss for Parkson Holdings Berhad was RM698,249 together with the impairment loss of RM14,327,660 recognised as at 31 May 2017, giving the total unrealised loss of RM15,025,909.
For Tong Herr Resources Berhad and Malaysia Smelting Corporation Berhad, the impairment loss of RM513,988 and RM2,392,124 were made in the financial year 2014 and financial year 2015 respectively
DISPOSAL
This share was disposed during the financial year ended 31 May 2017
Tong Herr Resources Berhad
Shares 900,000
Cost (RM) 1,809,579
Disposal Value (RM) 1,744,242
Realised Loss (RM) 65,337
Description of the Companies Businesses
APM Automotive Holdings Berhad APM
Automotive is a Malaysian automotive parts manufacturer that has expanded rapidly to become a major regional supplier and is expanding globally.
Boustead Holdings is one of the largest conglomerates in Malaysia, with business spanning 6 sectors; namely, plantation, heavy industries, property, finance and investment, pharmaceutical, and trading and industrial.
Fraser & Neave Holdings (F&N) is a leading manufacturer and distributor of soft drinks and dairy products under various brands. F&N’s property division was formed to unlock the value of its freehold properties in Klang Valley.
The MSC Group is currently one of the world’s leading integrated producers of tin metal and tin based products and a global leader in tin smelting.
MKH is a well-known property developer. Apart from property development, MKH has ventured into other businesses such as oil palm cultivation, furniture manufacturing and trading.
Oceancash Pacific is a manufacturer of resonated and thermoplastic felts. The group has expanded its range of product and services.
Padini is a leading retailer of its own fashion labels through freestanding stores, franchised outlets and consignment counters in Malaysia and abroad.
Parkson is a leading operator of department stores in Malaysia, China, Vietnam, Indonesia, etc.
Selangor Properties is involved in property investment and development, and investment holding.
Suria Capital is the leading port operator in Sabah. Apart from the port operations, the group has ventured into other businesses, including property development.
2017-08-20 15:32
after factoring fees of ard 2%/yr and his average performance of ard 6.5% gain/yr for the past 10 yrs, chief joker ttb's net gain is 4.5%/yr, abt 1.5% higher than average mgs 1yr or 1-1.4% higher than malaysian banks' 1 yr fd rates over the same time period.
after so much self-advertising and promotion, only manage an average 1+%/yr higher than risk-free interest for the period. one wld be expecting chief joker ttb to perform better.
2017-08-20 16:42
The biggest winner in iCap is the fund manager.
He has delivered good returns since the inception of this iCap closed end fund.
Few can complain.
However, the fees for asset management have to be revised.
It is just too lucrative favouring the asset managers, at the expense of the investors.
Warren Buffett has written a fine piece in his recent newsletter on this topic
2017 (RM) …. 2016 (RM) …. % Change
Fund management fee 3,263,523 …. 3,075,342 …. 6.1%
Investment advisory fee 3,263,523 …. 3,075,342 …. 6.1%
2017-08-20 17:03
Posted by 3iii > Aug 20, 2017 04:54 PM | Report Abuse
"The first thing is to be honest with yourself."
Nelson Mandela
IT IS EASY TO QUOTE LOH!
BUT IS 3iii HIMSELF HONEST?
SEE
On September 20th 2013
Calvin called for a buy on Pm Corp at 15 sen (3iii opposed & said Pm Corp is a gruesome company & valued Pm Corp at 14.4 sen only)
Ha! As of now Pm Corp is 18 sen (and after adding Cash Payout of 8 Sen Pm Corp is 26 Sen}
So There is 11 sen gain for Pm Corp after just short of 4 years
Hmmm?
11 sen profit for 4 years = 2.75 Sen Per Year
Or 18.3% Yearly for 2014, 2015, 2016 & 2017 years
Now let's take a Look at Dutch Lady
Dutch Lady was Rm46.46 on September 2013
Today Dutch Lady is Rm59.20 or up Rm12.74
And divided by 4 years it is up Rm3.18 or 6.8% only. Even if you add another Rm9.60 for dividend (of 4 years)
or 5.1% - Dutchlady at 11.9% Still Lose to Pm Corp at 18.3% yearly gain
SO 3iii Keep Denying his silly mistake!
IS 3iii Honest?
A BIG NO!!!!!
IN HIS PM CORP ASSESSMENT!!!!
HUHUHU!!
2017-08-20 17:10
>>>Posted by 3iii > Aug 20, 2017 04:54 PM | Report Abuse
"The first thing is to be honest with yourself."
Nelson Mandela
IT IS EASY TO QUOTE LOH!
BUT IS 3iii HIMSELF HONEST? <<<
The answer is YES.
Many here cannot see this because they wish opinions on a stock to be the same as theirs.
:-)
2017-08-20 17:46
<<<<<<iii is not honest to admit he is wrong on Pm Corp
See according to Peter Lynch there are 6 classes of stocks
http://www.patheos.com/blogs/faithandfinance/2011/08/03/6-stock-categories-peter-lynch-uses/
Pm Corp falls into the category of Assets Play
You are either dishonest or dumb>>>>
PMCorp
http://chart.bursamalaysia.com/cache/charts.pl?type=plc_profile&id=4081.MY&duration=1825d
2011 9 sen per share
Today 18 sen per share
100% over 6.5 years.
DLady
http://chart.bursamalaysia.com/cache/charts.pl?type=plc_profile&id=3026.MY&duration=1825d
2011 RM 15 per share
Today RM 59 per share
393% over 6.5 years.
Calvintaneng
I just don't understand calvintaneng. I am very honest in all my postings.
Is he honest too?
2017-08-20 22:38
>>>>Posted by calvintaneng > Aug 20, 2017 05:10 PM | Report Abuse
Posted by 3iii > Aug 20, 2017 04:54 PM | Report Abuse
"The first thing is to be honest with yourself."
Nelson Mandela
IT IS EASY TO QUOTE LOH!
BUT IS 3iii HIMSELF HONEST?
SEE
On September 20th 2013
Calvin called for a buy on Pm Corp at 15 sen (3iii opposed & said Pm Corp is a gruesome company & valued Pm Corp at 14.4 sen only)
Ha! As of now Pm Corp is 18 sen (and after adding Cash Payout of 8 Sen Pm Corp is 26 Sen}
So There is 11 sen gain for Pm Corp after just short of 4 years
Hmmm?
11 sen profit for 4 years = 2.75 Sen Per Year
Or 18.3% Yearly for 2014, 2015, 2016 & 2017 years
Now let's take a Look at Dutch Lady
Dutch Lady was Rm46.46 on September 2013
Today Dutch Lady is Rm59.20 or up Rm12.74
And divided by 4 years it is up Rm3.18 or 6.8% only. Even if you add another Rm9.60 for dividend (of 4 years)
or 5.1% - Dutchlady at 11.9% Still Lose to Pm Corp at 18.3% yearly gain
SO 3iii Keep Denying his silly mistake!
IS 3iii Honest?
A BIG NO!!!!!
IN HIS PM CORP ASSESSMENT!!!!
HUHUHU!! <<<<<
It is so important for Calvintaneng to show that he is better in his investing than everyone else.
The truth is he is not.
PMCorp share price went up 100% since 2011 to today.
Over the same period, DLady share price went up 393% (almost 400%) not including dividends received.
Therefore, the returns from DLady for the 6.5 years from 2011 to today is 4x higher than PMCorp for the same period.
Honesty must begin with yourself.
Calvintaneng please take note.
2017-08-20 22:48
From my past dealings with 3iii, he is not that honest loh....!!
He like to bad mouth other people stock, when it gain alot and do not fall in his own buy list loh...!!
Raider still remember how 3iii bad mouthed many multi bagger stock loh...!!
Insas
Lcth
Pmcorp
Excel force
DRB
Petron
Kesm
Hengyuan
All those stock he bad mouthed all turn into a multi bagger in a very short period loh...!!
2017-08-20 23:15
>>>Insas
Lcth
Pmcorp
Excel force
DRB
Petron
Kesm
Hengyuan <<<
Few has beaten the returns given by DLady since 2011 (400% over the last 6.5 years).
2017-08-20 23:30
Haiyah...just to name a few that beat Dlady under my list are Eforce, Kesm and Gengyuan loh...!!
No need 6.5 years loh....!!
Hengyuan about 8 mths already more than 300% mah...!!
2017-08-20 23:34
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
curious2
Why Parkson is Icap 3rd largest in qty shares held?
2017-08-19 16:55