Iwcity is a cash cow company from now onwards. Ekovest will enjoy it over the years(tagb disposal of land ) pls refer bursa under iwcity of their payment schedule

Land disposal gain from iwcity.

Pending gain from land disposal for iwcity more than 1bil

Analyst said qoq will be flat

2 cents div equalvalent to about 70m+

60m to ekovest another 149m will park under designated acct. Can refer sec 2.4.6 & 2.4.7 in bursa

either ways also good to ekovest

Ajiya will definately benifit from budget 2018.

Md chan ald informed these few quarters earnigs may not good. No shock surpise to me. Really looking forward for budget

Chart tell us Insider news ald came out in sept. I believe ald priced in now focus on budget if will allocate more fund for affordable house then ajiya can finalize the mou with spnb so that 5k units of afforable can kick of for new fy18.

Yes

http://www.klsescreener.com/v2/news/view/286265

Earning Marginally above 2 analysts expectation.

G.M. Chief, in China, Challenges Planned Bans of Gasoline Cars

https://mobile.nytimes.com/2017/09/15/business/gm-china-ceo-gasoline.html?referer=https://www.google.com/

Its toll operations contributed 37millions operating profit to the group in q417. Surging 37% yoy.

They have been doing this for many years. You can checl their historical releasing date and advance checking can be refer to bloomberg as well.

The operating profit is so good. Its not just normal but quite good.

Another good prospect is the sewage water treatment plant which is ekovest's expertise. Not much peoples aware of this biz opportunity.

Ya. Div rise more than 50%

Operating profit grow >60% yoy
Low profit in q4 mainly due to higher tax and wihout oneoff fv gain in same quarter last year. I personally think their performance is good.

I like this company. But if they can expand their downstream biz that would be good

Every 100 changes in cpo price will increase or decrease 7% of sop profit. Yes. Production will be higher.bear in mind that sop production in 2h 16 has returned to normal. This year production increase mainly from new acquition. And will off set by low cpo price compare to last year 2h16. And the forwars contract also try to stabilize the price at 2.8K. There is a reason i said 55m last year q3 profit about 37m. Mom for july about 115%. Q117 average selling price above 3k. Q217average selling price at2.8k. I believe q3 average selling price will be at 2.7k. Strenthen in rm will have negative impact on cpo as well.

average cpo price for aug16 to dec16
2,657.39
2,845.13
2,729.65
2,914.91
3,201.71

Maybe you can revisit your previous comments as well.

Did you track sop production and selling price. Industry demand and supply also the production?

Good. TP revised upwards. To continue monitor the cpo price and the issues surrounding the plantation industry will lead you to right direction. Earning for 2H may not be higher than 1H. Especially Q3, may see some lower earnings i.e. around 55mil. Nevertheless, i would still believe the fy2017 profit will still beat maybank research report of rm183m. Good luck guy.

It was due to forward contract.

Hardly. Bcos palm oil sentiment still not that good. Wait and see how market react. But i believe analyst will revised tp upward next week

（吉隆坡18日讯）虽然科技已经上涨了两年，但我国今年回酬最高的基金经理认为，这股涨势至少会延续2年时间，归功于全球对智能汽车和手机的需求量增加。Inter-Pacific资产管理有限公司总执行长林志诚（译音）接受彭博社专访时预测，市场对汽车和手机的需求量提高，推动国内科技股攀升，这股涨势至少会延续多2年。

他解释，由于汽车越来越朝向自动性能发展，进而推动电子零件需求量日益提升。

“世界最畅销的产品不是手机，而是汽车，且后者的价值比手机高得多。”

“手机如iPhone可能有几个光二极管（LED）零件，但汽车所拥有的相关零件会更多。”

专心寻宝不看综指

另一方面，37岁的林志诚分享到，他在投资上采取集中策略，手上持股从来不会超过40家公司。基金持有的公司股权规模，占其基金投资组合的比例至少3%以上。

“从事基金经理的工作是沉闷的，若找到了投资目标公司，就买入，然后等待获利。”

林志诚提到，投资者应该忽略市场上的噪音，即使找不到任何新的投资对象公司，他也不会任意购入公司股票。

他也透露，平时都在留意和买入未来获利表现持续提升的科技和制造领域股项。

另外，与其他投资者不同，林志诚几乎没有追踪富时吉隆坡综合指数的最新走势，他宁愿将时间放在寻找新的投资对象。

“我们分析的方式（与外界）差别很大。某种意义上，我已经‘关闭’对市场近况的追踪，只是专心发掘潜在投资公司。”

“如果你问我目前的综指走势，我甚至不知道。”

从时事找灵感

此外，林志诚在选股进场时，常会从身边的事物和新闻资讯找灵感。

他指出，5月份爆发“想哭”（WannaCry）病毒勒索软件肆虐事件后，立即购入网络安全软件制造商Systech（SYSTECH，0050，创业板科技股）股票。

自今年6月份以来，Systech的股价已经飙升了65%，从5月杪的27.5仙，升至目前的45仙水平。

“大马在网络安全方面的投资，仍处于起步阶段。我们进场得早，因此才能取得良好的回酬。”

除了科技领域外，也是摩托骑士的林志诚，留意到越来越多驾驶者选择雅马哈（YAMAHA）摩托车，因此，也买入组装和销售该品牌摩托的丰隆工业（HLIND，3301，主板消费产品股）。

“自2014年以来，丰隆工业的股价几乎翻了一倍，而近期来我看到越来越多雅马哈摩托车在路上，这让我重新留意该股。”

丰隆工业从2014年杪的4.49令吉，攀升至目前的9.80令吉水平。

投资收益捐慈善

林志诚早前在掌管440亿令吉资产的兴业银行资产管理公司任职。

在去年12月起，担任丹斯里陈志远旗下Inter-Pacific资产管理高职，管理5000万令吉资产，因为新东家让他成立一个社会企业基金。

林志诚在投资上取得卓越的成就，但真正让他感到喜悦的，是将一半薪资，捐助国内有需要的非宗教非盈利组织。

此外，他也将在股票投资获利的20%收益，捐助作为社会企业基金。

“我不会在工作时，考虑我可以为自己赚取多少利润。”

基金回酬51%独领风骚

科技股暴涨，让Inter-Pacific动态股权基金在上半年增长46%，当中，符合回教交易的投资组合基金更增长了51%，在投资马股的246家基金公司里独领风骚。

据彭博社报道，截至今年5月杪，该基金的亮眼成就，主要因为占基金比例高达38%的科技股表现。

该基金持有的科技股，包括半导体机械制造商维视机动（VIS，0120，创业板），以及硬盘和汽车的精密零件制造商艾尔软体（ELSOFT，0090，主板科技股），两项股在今年平均增长了1.57倍。

当中，艾尔软体是该符合回教教义的基金投资组合中份额最大的投资，主要从事制造光二极管测试仪器。

维视机动已从去年杪的36.5仙，涨至目前的1.25令吉。

而艾尔软体则从1.42令吉，升至2.81令吉。

More to come (mbb)

Who attended agm

big cap pe vs small cap pe

The BM project will still sub to local construction companies. Opportunity always there. Getting so many projects but couldnt complete on time will create more problems.

Ekovest expertise. Hope they can get some from it

http://m.themalaymailonline.com/malaysia/article/pm-says-targeting-construction-of-77-sewage-treatment-plants-by-2040

http://m.themalaymailonline.com/malaysia/article/dpm-govt-mulls-possibility-of-building-houses-on-sewage-treatment-plant-are

to benefit only after 3 years may not happen in efficient market, is malaysia an efficient market? some construction cost can repackage in TL with land as security, we wouldnt know under the it materialize, we shouldnt just focus on one, there are so many on-going project, it will dilute but may also be off set against the high eps in next 3 years.

this tp is not done by analyst, analyst did not derive anything yet, and we do not how they actual fund the construction cost of950m, based on the news, they said 30% internal fund and 70% borrowing. construction also based on progessive release, only in final will be higher, if the manage to IPO the highway, that would be enough to cover the cost, cost will weigh in 2019 and onwards but at the same time the earning may be higher in 2019 from other projects, so just let the anlayst find out from the management, then we can gather the info from the report(not the way analyst analize:))

it would take years i.e. 10 to completely develop the land bank.

yes, it would dilute the eps when the cost of i.e. 70% of 950m take place,

it would take into the consideration cost, interest, when and property price and wacc and etc when derived the RNAV, is a NPV

ekovest has big plan, they planned well, if can implement well, it would be a good company, let not talking about the politic link share

even with the rnav, the discount is to be given for the comp like ekovest,

the writer could have used the simple method how the RNAV derived for the existing 6.5B of the gdv for the same locality of the land

Assuming 15% profit margins for RM9 billion GDV, Ekovest's RNAV will increase by 63 sen. TP to increase from 1.55 to 2.18

analyst will only revised the RNAV to incorporate the latest development i.e. 9b of gdv when they got the detail of the development plan from the management, otherwise they will just derive based on the land value.

developer could have been paid more if they want to buy the land after 2 3 years, so even if the construction cost is overrun by reasoable % i think its ok, this is biz you can control but may not be manageable all time

by land and keep with cash and financing is not so uncommon,

the writer is not wrong about that with the some assumption, it may not meant for the property to be launch immediately and 100% sale and etc. it could be launched after 6 or 8 years, with the adjustment of property value, rate and etc, the rnav may or may not be the same,but its about the npv of the valuation.

i think you guys may have bit confuse with the interpretation of RNAV

16b is an asset based on the land availabek to derive the potential gdv. Not project. Project is being awarded. With the existing projects property development and toll consesssion. The rnav of this company is very high. I do believe analyst will only revise upwards. The price will eventually move towards the rnav

@niki. There're i downloaded all report for jan 2017 onwards there.