calvintaneng

https://www.youtube.com/watch?v=YcltgTjGFWU

2018-11-24 18:15

calvintaneng

Lessons from catching frogs

1) Painstaking preparation of making a bamboo trap

2) Dig a hold near river bank where frogs are

3) Disguise the trap by burying it in mud and cover it well so that frogs are unaware

4) Make a trap door

5) Get white termites as bait

6) Finally frogs are caught

7) And cooked over the fire

The characteristics of a company wanting to con people will exhibit these traits

1) Long preparation )book cooking)

2) Elaborate concealment

3) Hiding flaws or keeping out any suspicion or doubt

4) Setting the trap

5) And piling the bait (Bonus issue)

6) Catching unsuspecting prey

7) Prey is caught

See

https://www.youtube.com/watch?v=o5gdSZvR5NI

2018-11-24 18:26

EatCoconutCanWin

good sharing, i bought at 3.95 . will sell if margin drop 10%.

2018-11-24 18:44

pang72

Calvin, how to know 17.1 mils profits from receivables?

2018-11-24 18:50

calvintaneng

Pang72

It is stated inside the balance sheet

Under receivables
And not under Cash

2018-11-24 19:09

Alex™

tipu con counter i sold rm1 terus up to rm1.4 before QR release, and now RM4!

2018-11-24 19:28

Jeffbkt

This is considered a serious accusation. I would suggest you buy 100 unit and attend the next AGM meeting if you really want to prove you are right.

As of now the company still registers free cash flow of 9M in Q3 which used in paying dividend, buy back share and pay down debt. Company borrow additional 4m which I think is to balance up the free cash flow and financing activities. cash balance does not really increase from last year due to the increase of inventory, receivable and investment.

Company paid 7 cents dividend in 2018 that is before the Nov result. if cash flow continue to be good meaning no problem of customer payment from the increase receivable, we should expect increase of div payout in March 2019. of course, it may be a bit too late to wait until March 2019.

With cash balance of 37M, buying a piece of land of 7M consider quite reasonable to me. Another thing to note is that Its biggest customer is Seagate and as of Nov result, Seagate still registered strong earning.

Anyway, next Q (feb 2019) will see what happen to the receivable and the inventory.

2018-11-24 19:40

lizi

one thing i enjoy reading calvin article is his hilarious nickname of the counters..

2018-11-24 19:59

qqq3

its bear market, every thing also kua....But I made money in seacera, Supermax, Elsoft,,,and waiting for Layhong.....so how?

bear market can still make money.....

2018-11-24 20:13

pang72

Calvin,
Trade and receivable 68.3 mils?
Is this right? But how to know contribute profit 17.1mils?

2018-11-24 20:26

calvintaneng

Pang72

Go back to balance sheet again

Look under CURRENT ASSETS

Trade and other receivables Rm68,338,000 (YEAR 2018) Rm51,234,000 {YEAR 2017)

Receivables increased by Rm17.1 millions from Rm51 mil to Rm68 Millions from year to year

In true accounting NO CASH HAS BEEN RECEIVED AS YET

See Cash Position

Cash and bank balances Rm37,995,000 (Year 2018) Rm36,014,000 (2017)

And IN ONE YEAR CASH IN BANK HAS ONLY BY RM1.9 MILLIONS (FROM YEAR 2017 To 2018)


My Johor Sifu was an Auditor of A Super Market Chain in his younger days

Every Super Market he visited he wants to KNOW

1) HOW MUCH PROFIT THEY MAKE WEEKLY, MONTHLY, QUARTERLY. HALF YEARLY & YEARLY

2) HE WANTS TO KNOW HOW MUCH CASH THE COMPANY HAS IN THE BANKS
He is not interested in goods sold on credit on hutang

CASH, PURE CASH INSIDE THE COMPANY'S BANK ACCOUNT IS WHAT MATTERS

See LCL in Middle East.
Sold Lots of Stuff with High Revenue which are receivables. But in a crisis cash flow stopped & LCL gone belly up

Look at Sendai Account. Same story of Receivables carried over year after endless year

And Megan Media & Transmile?

All Receivables And Fake Sales With No REAL CASH
And Insiders conned all the sorchai

2018-11-24 20:57

Alex™

tipu con counter taiwan director buy goods and put in personal name. convicted and kena fined by bursa. this is fact. why invest in crook company?

2018-11-24 21:11

Alex™

somemore need kena convicted only then return money back to company. business ethics in the dustbin?

2018-11-24 21:11

qqq3

https://klse.i3investor.com/blogs/qqq3/183610.jsp

2018-11-24 21:12

Jeffbkt

Calvin, Are u sure the way you compare is correct, the increase of receivable must always equivalent to increase of cash? Can you use Vitrox to prove your case then?

Year 2018-Sep, 2017-Sep
Inventories 105,410 71,784
Trade and other receivables 148,191 123,863
Financial assets at fair value through profit or loss 0 1,046
Prepayments 4,673 3,192
Current tax assets 770 1,542
Cash and cash equivalents 134,583 150,572

Vitrox Inventory increase from 71M to 105M, receivable increase from 123M to 148M but cash reduce from 150M to 134M

So Vitrox also another pump and dump?

2018-11-24 21:43

qqq3

calvin...the idea is not talk 3 talk 4.....the idea is $ 2.50 to $4 , got make money or not......got make money is king....

2018-11-24 21:45

trulyinvest

Beter sell. Wether can sustain good profit remain a question

2018-11-24 22:11

weiiii

Calvin, what is the problem on higher receivable if you having good business? Everybody know receivable is not cash. Dufu do have previous few quarter record on uneven general and administration expenses. And what is the problem if you have higher inventories? Inventories doesn't mean purely finished goods, it might be raw material as well which probably to cater higher demand in the next quarter. Lastly, Dufu is specialist in manufacturing precision machining parts and component, any problem for the company to diversify? and USA is not the only client in the world for China, client for China is all over the world.

2018-11-24 22:16

calvintaneng

Weiiii

Receivables are IOU and should be treated as such until Cash is received.

So there is an element of misrepresentation

AND why add more inventories if payment has not come in fully for goods delivered

In Jcy report they say competition by ssd and hdd is fierce in data center

So is dufu giving you a correct picture

Of course under normal circumstances all can go invest in China. But these are very unsettled times as Trump is hitting China hard.

Trade war, price war and real war should give. Caution to investors.

2018-11-24 22:33

calvintaneng

Qqq3 has no principle in life

If an oil tanker overturned on highway you will take opportunity to steal some free petrol.

Of course if you escaped alive so what if others following your bad example get killed by conflagration

2018-11-24 22:36

calvintaneng

Jeffbkt

I got some insiders news on vitrox which is no good. But I respect the good friend unless he allows me to share.

2018-11-24 22:38

Jeffbkt

Calvin,
I am not interested in any company but I wanted to know is your accounting statement correct whereby if receivable increase YoY, the cash balance must also increase YoY. If not then this is a categorized as falsify the profit?

I can easily find companies that has the increase of receivable YoY but cash balance even reduce YoY.

You must not wrongly advise people if your statement cannot hold water.

2018-11-24 23:00

calvintaneng

Jeffbkt

The crux of the matter in not receivables on its own

It only come up as suspect BECAUSE THEY BOOK IT AS PROFIT (AND THAT REFERS TO ACTUAL PROFIT)

To do so is wrong especially by the way Dufu share price has spiked up

Now take out that Rm17.1 Millions (receivables) and post them later when PURE CASH IS RECEIVED and you think Mr Market will still be so sanguine?

2018-11-24 23:16

qqq3

calvin....red flags....not all red flags turns into 1 MDB...in fact in the vast majority of cases perfectly legit reasons for increasing debtors.....

and about the oil tankers....I don't ask u to steal oil....I ask u got make money or not? Make money is king, talk 3 talk 4 for what?

2018-11-24 23:26

Goh Kim Hock

@calvin, Jeff was asking you how do you justify the trade receivable has been booked into profit? After looking at the balance sheet, i still couldn't see it can be done.

It stated clearly the revenue is RM66,895m. The cost of sale is RM41,687m. Hence, the balance will be gross profit. Cash/bank balances has nothing to do with profit/losses. It just mean cash inside the bank.

2018-11-24 23:31

siradrian

I like the part on one "Mr Teh" went and buy on the "cheap"... Lol

2018-11-25 00:05

Jeffbkt

Calvin is making an assumption that if a share price spike after the result couple with major shareholder selling and coincidence that the cash balance doesn't increase in tandem with the increase of receivable then this will be a pump and dump stock. In fact, receivable is part of the revenue not profit. There is no way a company can recognize the receivable as profit. Of course if the payment defaulted then it will be a total lost and if payment delay, cash flow will be impacted but not profit unless provision.

So for DUFU case, it is still too early to confirm that the increase of receivable is cooked or non existence and will result in total lost/write off in the coming quarter. In 9 months period in 2018, DUFU registered increase of revenue of 48M compare to the same period in 2017. Now the question is that it is reasonable for the receivable increase to 17M?

2018-11-25 00:34

calvintaneng

Goh Kim Hock @calvin, Jeff was asking you how do you justify the trade receivable has been booked into profit? After looking at the balance sheet, i still couldn't see it can be done.

It stated clearly the revenue is RM66,895m. The cost of sale is RM41,687m. Hence, the balance will be gross profit. Cash/bank balances has nothing to do with profit/losses. It just mean cash inside the bank.
24/11/2018 23:31

Let me summarise the figures

1) Revenue is RM66,895m.

2) Cost of sale is RM41,687m

3) Gross profit is Rm25.208 Mil

4) Net Profit is Rm19.312 Mil (after deducting other admin expenses)

NOW WHERE IS THE RM19.312 MILIONS NOW?

ANSWER:

a) IS IT CASH INSIDE THE BANK AS MONEY COULD BE WIRED DIRECTLY From Bank to Bank?

b) IS IT REAL CASH KEPT INSIDE THE DUFU FACTORY SAFE NOW?

c) Or Is It Ringgit Notes Kept Inside DUFU' BOSSES CAR BOOT Or Home (BN claimed to have kept Billion Rm in Najib house)

d) IS IT PROFIT WHICH HAVE YET TO ARRIVE IN DUFU'S CUSTODY (In this case it is still Under Receivables or IOU)

e) Or none of the above as Cash status or position cannot be known now?

WHICH ONE IS THE CORRECT ANSWER?

ANYONE?

2018-11-25 02:48

lizi

It is (D).....but to be fair to dufu...their cash flow look ok...i briefly look at 4 years cash flow, all of them book in positive operating cash flow with reasonable working capital...the spike in receivable just happen this quarter...i guess may be too early to conclude something bad...

2018-11-25 06:00

lizi

i also miss out dufu due to its directors misuse company fund case in 2016...haiz...if not of that case probable i win big already...no confident in crook management.

2018-11-25 06:08

LOLANTO

learning something great today, thank you calvin

2018-11-25 08:09

gladiator

Calvin is accursing Dufu cooked their book doing a conman job to cheat the investors. Agree with Jeffbkt this is a serious allegation. Will Dufu management sue Calvin for defamation if the allegation is wrong or just ignore it as Calvin is a nobody in a forum.

2018-11-25 12:06

shpg22

Just look at cash flow. Net profit can be easily manipulated. The clear sign of pump and dump is the price rise too much too soon.

2018-11-25 12:30

calvintaneng

OK the day is almost done

Final reminder:

THE warning is on

PUMPING UP SHARE PRICES TO UNSUSPECTING NEWBIE AND SORCHAI

AT PEAK PRICES THEY DUMP AND THOSE WHO CHASED AT HIGHEST PRICES WILL BE TRAPPED

THIS IS IT
THE MODUS OPERANDI OF SYNDICATES

2018-11-25 18:08

apolloang

dufu more danger than dnounce?

2018-11-25 21:05

warren buntut

Calvin tard again. this retard forgot his con man counters duTALAND, BINA PURI AND BJCORP?

2018-11-25 21:37

warren buntut

whether it is pump and dump, at least people make a profits, your bina puri all loss like mad

2018-11-25 21:38

apolloang

bought dutaland lose less than many counters

2018-11-25 22:15

i3Value

calvintaneng, i dont want comment on your conspiracy theory. Maybe real, maybe rubbish talk.

But your accounting explanation is totally nonsense and wrong. You dont look like you know basic accounting but want to write article that include accounting technicals?

If you real intention is to warn people, maybe remove the accounting technicals and focus on your conspiracy theory.

2018-11-26 14:19

Primeinvestor

brainless article calvintaneng - if you look back, he only invested in loss making copanies like berjaya corp, and some property companies, all share price crash! lol

2018-11-26 14:50

godhand

Posted by i3Value > Nov 26, 2018 02:19 PM | Report Abuse

calvintaneng, i dont want comment on your conspiracy theory. Maybe real, maybe rubbish talk.

But your accounting explanation is totally nonsense and wrong. You dont look like you know basic accounting but want to write article that include accounting technicals?

If you real intention is to warn people, maybe remove the accounting technicals and focus on your conspiracy theory.


90% is rubbish

2018-11-26 14:56

godhand

the only point he makes that makes sense is dufu has increasing inventories and pay receivables. however dont forget the revenue is increasing as well.

hes implying the 'illusion profit' is hidden under receivables. if u have proof please by all means do so. otherwise it only means that payment to them is not yet settled. i think its perfectly normal to have increase receivables when your revenue increase no?

u do know that its a serious crime faking receipt right? u think the auditor has the balls to sign if the receipt is not legitimate?

2018-11-26 15:20

godhand

i have looked at all their receivables every quarter from 2011. they have high receivable at some point but they get their payment later on. i can post it in here for your good reference if you want. its perfectly normal to have credit notes and delayed payment for your regular customer.

its an issue if your revenue is stagnant and your receivable is piling up. this is not the case with dufu they are raking up their sales as well

2018-11-26 15:23

calvintaneng

The net has closed for dufu finally

All caught inside the net will trapped from now till lower and lower

2018-11-26 17:56

FamousAmos

I only know those who follow ur calls are all in Holland now

2018-11-26 18:06

FamousAmos

Expecting Tan End will parrot how much he make in xyz counters and won’t tell you how much he lost in abc counters. Hehehe.

2018-11-26 18:07

KLCI Going Heaven

wah really chun chun, you got offer class or not Master Calvin?

2019-01-12 18:03