THE INVESTMENT APPROACH OF CALVIN TAN
MNRB - Top 10 Dangers You Must Know About MNRB, Calvin Tan Research
calvintaneng
Publish date: Mon, 23 Jul 2018, 09:12 PM
calvintaneng
0 1,801
Hi Guys,
I have An Investment Approach I which I would like to all.
I have An Investment Approach I which I would like to all.
Dear friends in i3 Forum,
There are 10 Warning Signs Why You Should Sell MNRB As Fast As You Can
1) MNRB was once Calvin & Calvin Johor Sifu Dividend Pillar Stock. Now NO MORE!!
See
| 24-Oct-2016 | 03-Nov-2016 | BONUS_ISSUE | Bonus Issue | 1 : 2 |
 |
| 26-Aug-2014 | 26-Sep-2014 | DIVIDEND | First and Final Dividend | 16.5% |
|
| 02-Sep-2013 | 26-Sep-2013 | DIVIDEND | First and Final Dividend | 32% |
|
| 30-Aug-2012 | 02-Oct-2012 | DIVIDEND | First and Final Dividend | 17% |
|
| 25-Aug-2011 | 30-Sep-2011 | DIVIDEND | First and Final Dividend | 20% |
|
| 21-Nov-2008 | 05-Dec-2008 | DIVIDEND | Interim Dividend | 10% |
|
| 29-Jul-2008 | 08-Sep-2008 | DIVIDEND | Final Dividend | 15% |
|
| 18-Feb-2008 | 11-Mar-2008 | DIVIDEND | Second interim dividend | 5% |
|
| 19-Nov-2007 | 06-Dec-2007 | DIVIDEND | Interim Dividend | 20% |
|
| 10-Jul-2007 | 16-Aug-2007 | DIVIDEND | Final Dividend | 26% |
|
| 13-Feb-2007 | 14-Mar-2007 | DIVIDEND | Second interim dividend | 5% |
|
| 20-Nov-2006 | 06-Dec-2006 | DIVIDEND | Interim Dividend | 15% |
|
| 07-Jul-2006 | 14-Aug-2006 | DIVIDEND | Final Dividend | 20% |
|
| 20-Feb-2006 | 14-Mar-2006 | DIVIDEND | Second interim dividend | 10% |
|
| 18-Nov-2005 | 06-Dec-2005 | DIVIDEND | Interim Dividend | 10% |
|
| 11-Jul-2005 | 12-Aug-2005 | DIVIDEND | Final Dividend | 10% |
|
| 22-Feb-2005 | 14-Mar-2005 | DIVIDEND | Second interim dividend | 10% |
As you can SEE from the above MNRB like MNI were both giving very good dividends for years 2005 (30%), 2006 (35%), 2007 (31% & 2008 (30%) At about Rm3.00 then MNRB was giving us a nice 10% yearly dividend (MNI was taken private)
But in years 2014 onward MNRB stopped giving out the Usual High Dividends. This is a Red Flag.
2) TO SHORE UP CONFIDENCE MNRB STARTED GIVING BONUS ISSUES
Ha! This cannot make up for the 10% Yearly Dividend that AMANAH SAHAM BUMI (ASB) Needed for its distribution to shareholders (8% to 9% minimum)
So See No. 3
3) SO ASB IS SELLING OFF MNRB SHARES RIGHT AFTER BONUS ISSUES
See
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 21-Sep-2017 | Disposed | 398,300 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Sep-2017 | Disposed | 730,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 19-Sep-2017 | Disposed | 571,200 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 18-Sep-2017 | Disposed | 500,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 13-Sep-2017 | Disposed | 233,200 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 12-Sep-2017 | Disposed | 218,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 11-Sep-2017 | Disposed | 132,700 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 04-May-2017 | Disposed | 80,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 03-May-2017 | Disposed | 59,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 07-Feb-2017 | Disposed | 2,600 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 27-Dec-2016 | Disposed | 6,000,000 | 0.000 |
|
| PERMODALAN NASIONAL BERHAD | 27-Dec-2016 | Acquired | 6,000,000 | 0.000 |
|
| YAYASAN PELABURAN BUMIPUTRA | 27-Dec-2016 | Acquired | 6,000,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 08-Nov-2016 | Others | 51,308,500 | 0.000 |
|
| PERMODALAN NASIONAL BERHAD | 08-Nov-2016 | Others | 11,577,100 | 0.000 |
|
|
YAYASAN PELABURAN BUMIPUTR |
08-Nov-2016 | Others | 34,731,300 | 0.000 |
See how PNB tried to help cushion the 6,000,000 shares ASB started dumping Right After Bonus Issues?
But no stopping
4) ASB CONTINUES DUMPING AND DUMPING RELENTLESSLY
See
| AMANAHRAYA TRUSTEES BERHAD-AMANAH SAHAM BUMIPUTERA | 26-Jan-2018 | Disposed | 150,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 24-Jan-2018 | Disposed | 100,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 16-Jan-2018 | Disposed | 250,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 09-Jan-2018 | Disposed | 21,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 08-Jan-2018 | Disposed | 136,700 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 27-Dec-2017 | Disposed | 99,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Dec-2017 | Disposed | 7,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 19-Dec-2017 | Disposed | 464,800 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 30-Nov-2017 | Disposed | 301,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 22-Nov-2017 | Disposed | 10,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Nov-2017 | Disposed | 573,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 15-Nov-2017 | Disposed | 1,000,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 14-Nov-2017 | Disposed | 499,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 10-Nov-2017 | Disposed | 224,800 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 27-Oct-2017 | Disposed | 42,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 26-Oct-2017 | Disposed | 500,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 23-Oct-2017 | Disposed | 120,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Oct-2017 | Disposed | 2,341,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 17-Oct-2017 | Disposed | 50,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 16-Oct-2017 | Disposed | 150,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 06-Oct-2017 | Disposed | 428,900 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 05-Oct-2017 | Disposed | 530,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 04-Oct-2017 | Disposed | 839,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 03-Oct-2017 | Disposed | 36,000 | 0.000 |
|
|
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA
|
02-Oct-2017 | Disposed | 625,000 |
|
With no further support from PNB ASB kept up selling & selling.
Now why is ASB selliing and running away? Did they smelled a rat in MNRB?
5) YES! THE SMELLY RAT IS MANAGEMENT'S HORRENDOUS EXPENSES!!
Out of Gross Premiums of Rm1.3 Billions
Rm442 Millions went for fee and commission expense to sales people, it's ok for their hard work.
BUT READ THIS
MANAGEMENT EXPENSES IS A WHOPPING RM315 MILLIONS
WOW!! THIS IS MORE THAN SAPNRG BOSS TOOK AT RM72 MILLIONS WHICH EPF PROTESTED!!!
6) RM315 MILLIONS IS MORE THAN THE REAL ESTATE ASSETS OF MNRB AT RM200 MILLLIONS.
AND ALMOST THE AMOUNT OF MNRB DEBTS AT RM320 MILLIONS
WHY OH WHY?
INSURANCE COMPANIES ARE FAVOURITES OF WARREN BUFFET BECAUSE THEY DON'T HAVE INVENTORIES (NO GOODS TO SELL), THEY DON'T HAVE MUCH PPE (NO EQUIPMENT FOR PRODUCTION OF GOODS LIKE A CAR MANUFACTURING PLANT
WHY THEN THE HORRENDOUS AMOUNT OF RM315 MILLIONS?
DID THEY SPENT ON ROLL ROYCE AND SPORTS CAR, A YATCH LIKE JHO LOW? OR 7 STAR HOTELS IN UAE?
WHAT ELSE THEY SPENT SO MUCH MONIES??
THIS IS A BIG BIG RED FLAG!!!
7) LOOK CAREFULLY ITS RECEIVABLES
Loans and receivables : Quoted From Annual Report 2017. Rm1,934,933,000 (2017) 2,060,905,000(2016)
Ha! This is the reason why no dividend,.
After One Year Receivables still about Rm2 BILLIONS?
By 1 year some should be classified as Bad Debts already!!
8) CURRENT OPERATING REVENUE IS ALSO DOWN
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
31 Mar 2018
|
31 Mar 2017
|
31 Mar 2018
|
31 Mar 2017
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
636,706
|
713,492
|
2,473,839
|
2,531,796
|
| 2 | Profit/(loss) before tax |
37,036
|
35,831
|
188,760
|
98,927
|
| 3 | Profit/(loss) for the period |
29,406
|
25,434
|
136,787
|
71,170
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
29,406
|
25,434
|
136,787
|
71,170
|
| 5 | Basic earnings/(loss) per share (Subunit) |
9.20
|
9.90
|
42.80
|
27.60
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
4.7900
|
4.4400
|
||
Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
| Country | Base Unit | Subunit |
| Malaysia | Ringgit | Sen |
| United States | Dollar | Cent |
| United Kingdom | Pound | Pence |
See revenue shrunk from Rm713 millions to Rm636 millions (Or less by 10.7%)
People's business should grow from year to year with population increase but MNRB shrunk?
Why Management is sleeping ah? Taking Rm315 MILLIONS EXPENSES?
9) NO WONDER COMPANY IN FINANCIAL TROUBLE AS DEBT MIGHT BE HIDDEN TIME BOMB
SO?
GO GET SUCKERS TO SUBSCRIBE RIGHTS ISSUES
OHOH!
LAST TIME MNRB GAVE OUT MONIES
NOW IT SUCKS MONIES.
FROM WHO?
FROM SORCHAI SUCKERS OF COURSE
10) NOW FIRST THING TOMORROW MORNING THROW ALL YOUR MNRB SHARES BEFORE ASB THROW DOWN FURTHER
CAN YOU ABSORB THE 40% SHARES ASB HAS GOT TO LET GO?
| AMANAHRAYA TRUSTEES BERHAD-AMANAH SAHAM BUMIPUTERA | 26-Jan-2018 | Disposed | 150,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 24-Jan-2018 | Disposed | 100,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 16-Jan-2018 | Disposed | 250,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 09-Jan-2018 | Disposed | 21,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 08-Jan-2018 | Disposed | 136,700 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 27-Dec-2017 | Disposed | 99,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Dec-2017 | Disposed | 7,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 19-Dec-2017 | Disposed | 464,800 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 30-Nov-2017 | Disposed | 301,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 22-Nov-2017 | Disposed | 10,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Nov-2017 | Disposed | 573,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 15-Nov-2017 | Disposed | 1,000,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 14-Nov-2017 | Disposed | 499,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 10-Nov-2017 | Disposed | 224,800 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 27-Oct-2017 | Disposed | 42,500 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 26-Oct-2017 | Disposed | 500,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 23-Oct-2017 | Disposed | 120,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 20-Oct-2017 | Disposed | 2,341,100 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 17-Oct-2017 | Disposed | 50,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 16-Oct-2017 | Disposed | 150,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 06-Oct-2017 | Disposed | 428,900 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 05-Oct-2017 | Disposed | 530,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 04-Oct-2017 | Disposed | 839,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 03-Oct-2017 | Disposed | 36,000 | 0.000 |
|
| AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA | 02-Oct-2017 | Disposed | 625,000 | 0.000 |
FROM ANNUAL REPORT OF MNRB YEAR 2017
1. AMANAHRAYA TRUSTEES BERHAD.....
ASB is Top No.1 Holder of ASB among Top 30 substantial holders. It has 147 million shares. Total is 46.24%
Now think carefully
If you are up in an airplane and the Pilot parachuted. Are you able to survive the rest of the journey without the Pilot?
ASB in this case is the Pilot of MNRB. They are selling. You so clever to buy?
Or you can be the Pilot now flying the pilotless plane?
Please buy/sell after due diligence
Warm Regards
Calvin Tan Research
Singapore
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Discussions
Be the first to like this. Showing 50 of 61 comments
so mata buta calvintaneng, r u sticking to ur allegation that mnrb is in financial troubles????
lol..........
2018-07-23 22:19
so mata buta calvintaneng, no use reporting my postings as abuse.
pls answer my question whether mnrb is in financial troubles as u alleged????
its a very serious allegation, u know????
lol..........
2018-07-23 22:21
Don't argue
Just sell fast fast and get out!!
Now listen to some nice Oldies!
https://www.youtube.com/watch?v=ikNIEDa0WT0&index=19&list=RDBKV8IAMfTRk
2018-07-23 22:23
really mata buta calvintaneng, no use reporting my postings as abuse.
so is mnrb in financial troubles as u stated in ur report????
its a very serious allegation, u know????
if mnrb comes to know of it, they might decide to take legal action against u.
lol..............
2018-07-23 22:24
so mata buta calvintaneng, is mnrb in serious financial troubles then as u alleged???
u r refusing to answer my question.
lol............
Posted by calvintaneng > Jul 23, 2018 10:23 PM | Report Abuse
Don't argue
Just sell fast fast and get out!!
Now listen to some nice Oldies!
https://www.youtube.com/watch?v=ikNIEDa0WT0&index=19&list=RDBK...
2018-07-23 22:25
actually, @hollandking, mata buta calvintaneng has made some very serious allegations regarding the financial health of a financial institution.
so mata buta calvintaneng better have proof to show his mnrb allegations to be true.
lol............
2018-07-23 22:27
actually @famousamos, u might see ur good friend mata buta calvintaneng getting into some serious legal issues with his latest mnrb allegations.
lol................
2018-07-23 22:28
By all means Amos
Go support these also Patimas, Kenmark, Saag, Megan Media, Ekran & Transmile
2018-07-23 22:29
but mata buta calvintaneng, pls answer ur allegation that mnrb is in serious financial troubles.
its quite a serious allegation against a financial institution, u know.
lol............
2018-07-23 22:29
for anyone interested in contacting mnrb to ask for clarification, pls contact ir@mnrb.com.my or 03-2096 8000.
lol...............
2018-07-23 22:35
Calvin, I just did a check on the "loans and receivables" which are actually fixed deposits placed with various banks. Under new financial reporting standards fixed deposits are now grouped under "loans and receivables".
2018-07-23 23:10
lol............
thats why mata buta calvintaneng is digging a legal hole for himself, bro @thecontrarian.
i think tonite mata buta calvintaneng cannot sleep since he made such a serious allegation.
maybe someone will report him to mnrb tomorrow.
lol................
2018-07-23 23:22
One Big Problem with Motor Insurance is FRAUD
Road Side Furniture Stores also Got Huge Fraud
Last time I know people who got into small accidents with their high end expensive cars will do this in cahoot with workshop & adjusters
A Mercedes Benz with accident claim amount of Rm20,000 to Rm30,000 will do "monkey"
Why they call "Do monkey"?
THEY WILL RAM THE CAR SEVERAL TIMES MORE TO WRECK IT UNTUIL TOTAL LOSS TO CLAIM FULL INSURANCE PAYMENT
THIS IS A FORM OF CHEATING WHICH INSURANCE AND REINSURANCE COMPANY SUFFERS
For Furniture?
If Business Very Bad?
They will buy Insurance first
Then remove the good expensive furniture
Put old second hand ones of little value in the Store
THEN SET THEM ALL ON FIRE
After that in cahoot with Insurance Adjuster to cheat Insurance Companies
So rampant then that many Insurance Company suffered losses and closed shop
2018-07-23 23:27
but mata buta trash calvintaneng, is mnrb in serious financial troubles????
i m really worried abt ur allegation.
tomorrow i call mnrb ir to get clarification from them????
so how?????? is mnrb going into bankruptcy according to ur article????
i better call mnrb tomorrow for clarification.
2018-07-23 23:30
Leno is the smartest investor around
Clap!
Clap!!
Clap!!!
You shall do very well in investments.
Cheers.
2018-07-24 15:59
PNB and bumiputra foundation, both PNB ler..holds 55.1%, way over simple majority. so why cant they just remove the top management of this company? perhaps you could elaborate on that. yes, they keep on selling..but only peanuts compare to the total share that still available, if they really serious to dispose their stake. stupid to do it dy by day..untill tua baru finished...huhu
2018-07-24 19:54
pretty sure he forgot about the total number for that majority shareholders. ..huhu
2018-07-24 20:25
Parkson18
1.96 no dividend RI coming where got cheap? Only mata buta joetay say cheap.
25/07/2018 06:35
Parkson18 has the most intelligent comment today!!
Listen. Don't go cry father cry mother.
They say if the horse is dead the best thing to do is to dismount
2018-07-25 10:34
just answar my question, why the majority shareholder, >51%, decided to do the sell bit by bit of their share, rather than throw out the bad management?? if that is really the case. what hold them back?
2018-07-25 12:22
Correct
You will lose lest if you take heed to warning
Last time I warned wahahaha in Tekseng to sell it above Rm1.00 but he kept opposing me. Today Tekseng crashed by 72% to only 28 sen & wahahaha disappeared.
Read this
https://www.nst.com.my/business/2018/07/392611/dr-m-whistleblowers-will-be-protected-retaliation
2018-07-25 14:08
How come baby joejoe cry father cry mother now no use loh!
Should have taken kind hearted admonition
2018-07-25 17:23
I don't own MNRB. I think some of the points in the article are not entirely correct. Just to share what I observed in their accounts:
1. Gross premium should be 2.5b, not 1.3b. It is not clear what caused the drop in the last quarter. A drop in revenue is usually not a good thing unless they stop writing some loss making business. To be fair, their claim also came down during the quarter.
2. High management expense - we can't tell whether MNRB has high or low expenses unless you compare that with their product loadings and other life/general companies to form a better view. Insurance companies incur high marketing costs on branding and incentives to the sales people (in addition to commission). Major insurance companies usually have a branch in almost every state to serve their policyholders. Syarikat Takaful incurred RM260m (they put some under "other operating expenses") for the first 6 months, it will be more RM500m a year. For some life insurance businesses, part of management expenses can be charged to policyholders' fund.
3. High receivables - I believe part of these is outstanding premiums which is backed by policyholders' policy values, there is little risk here. The other is outstanding claim recovery from reinsurance companies, usually backed back strong international reinsurance companies. These are the reasons why they are not impaired else their auditor EY surely won't let go such a big amount.
5. On right issue - obviously they don't have enough money! My understanding is that insurance is a capital intensive business. They don't have inventory but Bank Negara requires them to put aside huge fund to support the risks they are taking to ensure policyholders are protected. I read that MNRB set up a new company recently. This triggers additional paid up capital and their RM320m debt (not sure whether this is subordinated debts) is maturing this year. What is not clear to me is why are they have a right issue instead of issuing subordinated debt.
Buying at your own risk... Good luck..
2018-08-25 23:19
The Receivables are actually fixed deposits placed with various banks. Insurance business you collect premium before coverage. Where got such thing owe premium? No premium no coverage.
2018-09-21 00:06
mr calvin, could it be true that they sell to appear to YOU are red flag. But what about they subscribe the right at only RM 0.9, does that appear to you they are Long Term investor? isn't it a strategy of SELL high BUY low??!!
2018-10-04 11:23
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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....
joetay
u stated that mnrb is in financial troubles, that is a very serious allegation, u know????
lol.........
2018-07-23 22:17