Investing is simple. Just stay with the facts. No need to promote so muxh.

Johnchew5 Thanks for educating con calvintaneng. Hope he can stop his repeated lying.

>>>
>>>
calvintaneng

Bounce ideas?

My ideas for Netx on its Real Business in Exinda Equipment for Data. I have always believed in it. Management might be another matter. Even so after all your harping Netx is still at 12.5 sen (not 2 sen like Serba )
Netx still got cash and real assets worth Rm90 millions and not insolvent yet like knm

>>>

Warren Buffett, the investment guru, has said the best way for most investors to own common stocks is through an index fund that charges minimal fees, saying they will "beat the net results delivered by the great majority of investment professionals".

>>>
goldmanbull

Also does anyone know if taking 15% above annual 5% performance and cummulative yearly 5% performance is reasonable? Sorry, im not an expert here and would like to learn from you guys. Is this fees reasonable comparing to others in the market? thanks
>>>


Avoid such funds.

>>>
From 2017 to 2023
KLSE index decreased by -(1750 -1426) / 1750 = -324 / 1750 = - 0.185 ( or - 18.5%)
iCAP NAV increased 3.57 / 3.56 = 1.0028 ( or 0.28%)
>>>

From 2017 to 2023 (about 6 years), the returns for those who kept their money in FD were better than the returns from the KLSE or iCAP. The FDs had returned 3% to 4% yearly for the last 6 years.

Of course, this is asset allocation hindsight bias (vision 2020).

iCAP

FYE --- NAV --- Dividends --- Annual Return on NAV)
2005 --- 0.99 --- 0 --- -
2006 --- 1.37 --- 0 --- 38.4%
2007 --- 2.23 --- 0 --- 62.8%
2008 --- 1.56 --- 0 --- -30.0%
2009 --- 1.99 --- 0 --- 27.6%
2010 --- 2.55 --- 0 --- 28.1%
2011 --- 2.73 --- 0 --- 7.1%
2012 --- 2.93 --- 0 --- 7.3%
2013 --- 3.00 --- 0.095 --- 5.6%
2014 --- 2.91 --- 0 --- -3.0%
2015 --- 3.01 --- 0 --- 3.4%
2016 --- 3.12 --- 0 --- 3.7%
2017 --- 3.56 --- 0 --- 14.1%
2018 --- 3.18 --- 0 --- -10.7%
2019 --- 3.12 --- 0 --- -1.9%
2020 --- 3.10 --- 0 --- -0.6%
2021 --- 3.46 --- 0 --- 11.6%
2022 --- 3.27 --- 0.20 --- 0.3%
29/9/2023 --- 3.57 --- 0 --- 9.2%

>>>>

KLSE index
2005 900
2017 1750
2018 (Jan) 1868 (Peaked)
2023 1426

From 2005 to 2017
KLSE index increased 1750 / 900 = 1.9x
iCAP NAV increased 3.56 / 0.99 = 3.6x

From 2017 to 2023
KLSE index decreased by -(1750 -1426) / 1750 = -324 / 1750 = - 0.185 ( or - 18.5%)
iCAP NAV increased 3.57 / 3.56 = 1.0028 ( or 0.28%)

KLSE index
2005 900
2023 1426

1426/900 = 1.6x (excluding dividends)

iCAP NAV
2005 0.99
2023 (27.9.2023) 3.57 .. excluding dividends

3.57 / 0.99 = 3.6x

Market Price of iCAP
2023 Today's price 2.65

2.65 / 0.99 = 2.7x

S&P 500
2005 1,200
2023 Today 4,288

4,288/1,200 = 3.6x

Berkshire Hathaway A share
2005 Highest price 87,000
2023 Today's price 531,477

531/87 = 6.1x

Berk shire’s Performance vs. the S&P 500
Annual Percentage Change
Year...in Per-Share Market Value of Berk shire ...in S&P 500 with Dividends Included

2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.8 ...4.9
2006 ......................................................................... 24.1 ... 15.8
2007 ......................................................................... 28.7 ... 5.5
2008 ......................................................................... (31.8) ... (37.0)
2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7... 26.5
2010 ......................................................................... 21.4 ... 15.1
2011 ......................................................................... (4.7) ... 2.1
2012 ......................................................................... 16.8 ... 16.0
2013 ......................................................................... 32.7 ... 32.4
2014 ......................................................................... 27.0 ... 13.7
2015 ......................................................................... (12.5) ... 1.4
2016 ......................................................................... 23.4 ... 12.0
2017 ......................................................................... 21.9 ... 21.8
2018 . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.8... (4.4)
2019 ......................................................................... 11.0 ...31.5
2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.4 ....18.4
2021 ......................................................................... 29.6 ... 28.7
2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.0 ... (18.1)

For 9 yeas from 2005 to 2013, iCAP's returns on NAV were impressive, growing its NAV from RM 0.99 in 2005 to RM 3.095 in 2013.

For the next 9 years, from 2013 to 2022, it grew its NAV from RM 3.00 in 2013 to RM 3.57 + 0.20 dividends (in 2022) in Sept 2023. During this lack-lustre return period, its share prices were traded at a steep discount, at times approaching 40% to its NAV.

iCAP

FYE --- NAV --- Dividends --- Annual Return on NAV)
2005 --- 0.99 --- 0 --- -
2006 --- 1.37 --- 0 --- 38.4%
2007 --- 2.23 --- 0 --- 62.8%
2008 --- 1.56 --- 0 --- -30.0%
2009 --- 1.99 --- 0 --- 27.6%
2010 --- 2.55 --- 0 --- 28.1%
2011 --- 2.73 --- 0 --- 7.1%
2012 --- 2.93 --- 0 --- 7.3%
2013 --- 3.00 --- 0.095 --- 5.6%
2014 --- 2.91 --- 0 --- -3.0%
2015 --- 3.01 --- 0 --- 3.4%
2016 --- 3.12 --- 0 --- 3.7%
2017 --- 3.56 --- 0 --- 14.1%
2018 --- 3.18 --- 0 --- -10.7%
2019 --- 3.12 --- 0 --- -1.9%
2020 --- 3.10 --- 0 --- -0.6%
2021 --- 3.46 --- 0 --- 11.6%
2022 --- 3.27 --- 0.20 --- 0.3%
29/9/2023 --- 3.57 --- 0 --- 9.2%

htt p:/ /myinvestingnotes.blogspot.com/2023/09/netx.html
The business of Netx from 2014 to 2023 (graphic)

DJThong

He has an army of brainless zombies who report posts but up above he knows what lies someone has told
And the losses they faced which ge brushes off now
But his following is almost nothing now
His groups pitiful and quiet
He croaks but no one responds
SGX listing is almost zero impact
So he must regroup and think of the next big tale to spin

1 hour ago


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

>>>
calvintaneng

Bounce ideas?

My ideas for Netx on its Real Business in Exinda Equipment for Data. I have always believed in it. Management might be another matter. Even so after all your harping Netx is still at 12.5 sen (not 2 sen like Serba )
Netx still got cash and real assets worth Rm90 millions and not insolvent yet like knm

>>>

NETX
Price 0.145 (29/9/2023)
Market Capital (RM) : 133.34m :
Number of Share : 919.56m

10 minutes ago



Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Is calvintaneg a smart or a very too smart guy? I think he is beyond redemption.



8 minutes ago



Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

NETX ( RM ,000)
Ann. Date … Revenue … PBT
31-Jan-23 … 13,638 … -16,558
31-Jan-22 … 81,099 … -22,563
29-Jan-21 … 14,897 … -16,919
31-Jan-20 … 9,993 … -29,722
30-Aug-19 … 9,702 … -19,086
29-Aug-18 … 17,567 … -11,323
30-Aug-17 … 19,362 … 1,488
30-Aug-16 … 9,779 … -6,708
27-Aug-15 … 3,581 … -11,077
Total (9 yrs) … 179,618 … -132,468


From 2015 to 2023 (9 years), NETX generated cumulative total revenues of RM 179.6 m.
It made a profit before tax of RM 1.488 m in 2017 only and losses in all the other years.
The cumulative total losses for the 9 years amounted to RM 132.5 m.

How is NETX able to survive all these years? Ask calvintaneng, as he is well versed in the business of NETX. :-)

NETX ( RM ,000)
Ann. Date … Revenue … PBT
31-Jan-23 … 13,638 … -16,558
31-Jan-22 … 81,099 … -22,563
29-Jan-21 … 14,897 … -16,919
31-Jan-20 … 9,993 … -29,722
30-Aug-19 … 9,702 … -19,086
29-Aug-18 … 17,567 … -11,323
30-Aug-17 … 19,362 … 1,488
30-Aug-16 … 9,779 … -6,708
27-Aug-15 … 3,581 … -11,077
Total (9 yrs) … 179,618 … -132,468


From 2015 to 2023 (9 years), NETX generated cumulative total revenues of RM 179.6 m.
It made a profit before tax of RM 1.488 m in 2017 only and losses in all the other years.
The cumulative total losses for the 9 years amounted to RM 132.5 m.

How is NETX able to survive all these years? Ask calvintaneng, as he is well versed in the business of NETX. :-)

Is calvintaneg a smart or a very too smart guy? I think he is beyond redemption.

>>>
calvintaneng

Bounce ideas?

My ideas for Netx on its Real Business in Exinda Equipment for Data. I have always believed in it. Management might be another matter. Even so after all your harping Netx is still at 12.5 sen (not 2 sen like Serba )
Netx still got cash and real assets worth Rm90 millions and not insolvent yet like knm

>>>

NETX
Price 0.145 (29/9/2023)
Market Capital (RM) : 133.34m :
Number of Share : 919.56m

>>>>
Posted by DJThong > 32 minutes ago | Report Abuse

He has an army of brainless zombies who report posts but up above he knows what lies someone has told
And the losses they faced which ge brushes off now
But his following is almost nothing now
His groups pitiful and quiet
He croaks but no one responds
SGX listing is almost zero impact
So he must regroup and think of the next big tale to spin
>>>>

Interesting post by Thong. Thanks for sharing.

Is COL a friend or a foe or a threat to shareholders of iCAP? Definitely not a foe. So far not a threat. It is good to have knowledgeable investors in the fund too. Of course, to some, they are perceived as a threat due to its large shareholdings.

Educate the shareholders on the reason. The court is not going to solve this perceived threat, should it exists.

Surely, in your portfolio of stocks, you have companies that gave regular dividends and its share price continues to grow, over many years.

Search them out yourself, and just stay invested.

Maybank gives dividends equivalent to a yield of 6% - 7%, with little capital gains.
PBB gives dividends (DY is lower than Maybank), with slow growth in its share price over the long term.

>>>
Posted by DJThong > 35 minutes ago | Report Abuse

More excuses from the pitiful excuse of a man
Won’t admit he led his followers to losses.
Changing the story because as an old man he fears judgment day.
God knows what you did . There is no twisting before the Almighty. No excuses accepted. No silly followers to help defend the indefensible.

>>>

We know. Many knows too.
Thanks for sharing.
Sorry somone chose to flag and delete some of your posts.

For iCAP IVF fund, can we draw the conclusion that this fund was not able to grow at a high rate of return exceeding the dividend returns sought by its initial investors. Thus, its NAV has dropped below its inception NAV.

If iCAP has the ability to achive return on NAV greater than the return that you require, then it makes sense for it to retain all its earnings to be reinvested at this higher rate of return on NAV.

On the other hand, should it not be able to deliver higher return on NAV than you are expecting or that you are able to do on your own , you should sell out and move your money into another stock.

It all boils down to the performance of the fund.

The difficulty facing the shareholders of iCap when they need to sell is the very steep discount to the NAV. This discount reflects the popularity or unpopularity of investing into this fund, a complex topic of many factors.

Capital Dynamic has been busy growing its assets under management. Its focus has obviously been diluted unlike when it was managing iCAP in Bursa as the sole fund. Most asset managers obtain their biggest income from growing their assets under management. Buffett is unique is his ability to GROW his single "fund" at GOOD AND HIGH rates of returns CONSISTENTLY over ALMOST EVERY YEAR.


iCAP IVF

This is a fund that distributes dividends managed by Capital Dynamic.

For those who wish to see what might happen to the NAV of iCAP if regular dividends were to be adopted, ask at the AGM for Capital Dynamic's performance of its iCAP IVF (International Value Fund). The fund started at a unit value of Australian $1 in ?2009 and it is today at unit value of Australian $0.6655. For those who have invested Australian $20,000, the value of their investment that they stay invested (minus the dividends) today in iCAP IVF is Australian $13,310.

The fund has been profitable. However, its rate of returns a bit anaemic. The investors have not lost money but has made small profits.

For those who invested into this fund since its inception, the fund has grown their initial Australian $20,000 investment to a total final value of $24,200 over 14 years. Those choosing to receive regular dividends would have received dividends totalled $24,200 - $13,310 = $10,890 [$4,200 (gain from the value of their investment) + $6,690 (from return of their own money invested).]

Are you a long term investor with a long term time horizon and who will be a net investor into the stock market in the future years? You will love to buy your stocks cheap.

>>>
Posted by FastMoney666 > 3 hours ago | Report Abuse

iCapital.biz finally announced the Innovative Dividend Policy 🤣🤣
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3388655
>>>

This adds another layer of complicity to managing the fund.
I think it is solely to reduce the share price discount to the NAV; may not work out as planned.

Better for the fund to focus on delivering high return on NAV (high ROE). Those wishing to have some income can always choose to sell some of the shares (abeit at a discount).

PE of 2+. Why?
Always study the FCF, the cash that truly belongs to the owners (shareholders).

http:/ / myinvestingnotes.blogspot.com/2023/09/insas.html
INSAS

What happened to its retained earnings?
Has it grown its earnings?
Has its share price reflects its increased NTA due to the retained earnings?

https:/ / myinvestingnotes.blogspot.com/2023/09/insas_28.html
INSAS

htt p:/ /myinvestingnotes.blogspot.com/2023/09/netx.html
The business of Netx from 2014 to 2023.

https://sgx.i3investor.com/web/forum/forum-list
So many posts in i3 Singapore and yet so quiet there!!!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 0 seconds ago | Report Abuse

Spamming?

Be real.

I have used this site to bounce ideas. It is also a great site to observe human psychology and behaviour in their investing.

If the posts in Netx were not so abusely deleted by you and your friends, you would have realised the naysayers were right and you were idi-otic in your careless incessant promotion of Next. Did you express remorse or regret to those whom you harassed in Netx during that period? Did you admit your mistakes? Did you feel bad for those you caused to lose money in Netx?

What were the naysayers' activities in Netx? It was altruistic. Since you promoted so aggressively (for various reasons best known to your Christian faith); a few of us who were "less knowledgeable had a deep look into Netx. What were posted by the naysayers played out exactly as they posted.

Netx was a clear case of how irresponsible you were and can be. Is greed or love the bigger component of your behaviour?

3iii


Great mind talks about issues eg Netx
Weak mind talks about people eg spam?ming


Better in love to have these in this order:
People first, then money

Spamming?

Be real.

I have used this site to bounce ideas. It is also a great site to observe human psychology and behaviour in their investing.

If the posts in Netx were not so abusely deleted by you and your friends, you would have realised the naysayers were right and you were idi-otic in your careless incessant promotion of Next. Did you express remorse or regret to those whom you harassed in Netx during that period? Did you admit your mistakes? Did you feel bad for those you caused to lose money in Netx?

What were the naysayers' activities in Netx? It was altruistic. Since you promoted so aggressively (for various reasons best known to your Christian faith); a few of us who were "less knowledgeable had a deep look into Netx. What were posted by the naysayers played out exactly as they posted.

Netx was a clear case of how irresponsible you were and can be. Is greed or love the bigger component of your behaviour?

3iii


Great mind talks about issues eg Netx
Weak mind talks about people eg spam?ming


Better in love to have these in this order:
People first, then money

Latest Price Target >
Stock

Price Target

Price Call

Firm

AEONCR
AEON CREDIT SERVICE (M) BHD
16.95

BUY

KENANGA

ARMADA
BUMI ARMADA BERHAD
0.68

BUY

AmInvest

ASTRO
ASTRO MALAYSIA HOLDINGS BERHAD
0.50

HOLD

HLG

AXIATA
AXIATA GROUP BERHAD
3.45

BUY

KENANGA

CDB
CELCOMDIGI BERHAD
5.07

BUY

KENANGA

DIALOG
DIALOG GROUP BHD
3.36

BUY

AmInvest

DLADY
DUTCH LADY MILK INDUSTRIES BHD
27.00

BUY

KENANGA

F&N
FRASER & NEAVE HOLDINGS BHD
28.45

BUY

KENANGA

HARTA
HARTALEGA HOLDINGS BHD
1.85

HOLD

KENANGA

KOSSAN
KOSSAN RUBBER INDUSTRIES BHD
1.28

HOLD

KENANGA

My investing is very focussed. I screen for many stocks. I only analyse a few in depth for serious investing. Sometimes, on a few for learning purposes.

>>>

Posted by calvintaneng > 12 minutes ago | Report Abuse

Telling the truth?

Pm Corp only worth 14.4 sen?
When it has net cash 18.5 sen?
And Net Assets over 30 sen
>>>

Why is PMCorp sellling at a discount to its NTA?
Why is the market players not give it the premium to its NTA as calvintaneng opined?
Is the market wrong or is calvintaneg right?
What will be the catalyst for the repricing of PMCorp?

Why is calvintaneng so sure of his value of PMCorp?

PMCORP

Shareholding Changes
Date of change Shares Director/
Substantial Shareholder
27 Feb 2023 Disposed
33,500,000 SOO LAY HOLDINGS SDN BHD
27 Feb 2023 Disposed
33,500,000 MALAYAN UNITED INDUSTRIES BERHAD
27 Feb 2023 Acquired
20,000,000 CIMB COMMERCE TRUSTEE BERHAD
27 Feb 2023 Disposed
33,500,000 NORCROSS LIMITED
27 Feb 2023 Disposed
33,500,000 TAN SRI DATO' KHOO KAY PENG
27 Feb 2023 Disposed
33,500,000 CHERUBIM INVESTMENT (HK) LIMITED
27 Feb 2023 Disposed
33,500,000 KKP HOLDINGS SDN BHD
05 Oct 2022 Disposed
43,000,000 MALAYAN UNITED INDUSTRIES BERHAD
05 Oct 2022 Disposed
43,000,000 ORIENTAL OMEGA SDN BHD
05 Oct 2022 Disposed
43,000,000 NORCROSS LIMITED

As you highlighted the buying of TSH by its CEO, perhaps, you may like to know the selling in PMCORP as above. Now don't get annoyed because this is posted.

Investing blogs and sites became popular with the onset of social media. These blogs and sites have evolved over the years. There were many popular blogs in past, many have disappeared. Sahamas was a popular blog maintained by a very respectable person. He has not blog since, probably his advance age may be a factor.

A popular site where many Malaysian investors gathered to talk "cock" around stocks was Fusion Investor. A popular character in that blog was a chap named Seng. The author of Sahamas was also a popular participant.

When Investlah appeared, the participants shifted to Investlah. Many in Fusion Investor shifted to Investlah. Soon, Seng who maintained Fusion Investor decided to stop blogging asking his participants to join the other blogs.

I started my own blog on 1.8.2008. My first post was: `https://myinvestingnotes.blogspot.com/2008/08/investment-policies-based-on-benjamin.html . My bto log is still active today. It is mainly a personal journey in seeking investment knowledge and my own personal investing philosophy. Also, a place for me to refresh my thinking on my own investing.

I actually did not know that Investlah existed, until a chap, LENO invited me to that site. Well, I soon get to know the investment style of LENO, stockraider, Johnmaster, and a few others. There were many manipulators too, sometimes their activities were obvious, at times very subtle. It is often difficult to know the difference. In any case, investing should be just that, don't speculate. The 2 threads I participated with some enthusiasm were GSB and Patimas. Those who were in Investlah at that time, will know the history.

When i3 started, once again, I did not even know it existed. I continued to stay with Investlah. Slowly, more and more left Investlah. Some participated in both sites. It was not surprising to me that soon after joining i3, calvintaneng promoted PMCorp. He had been doing so in Investlah with Leno for sometime already. Now in the new site, perhaps, there were new players for them to promote with "success" as in Investlah, too many had been burnt too by many promotions, genuine or otherwise.

I joined i3 very very much later. The demise of Investlah was not unexpected. i3 offers a lot more benefits. The site is a better site, compared to Investlah. It was only a matter of time that the new site attracted many players to its site, impoverishing Investlah. It has little to do with any individual.

Interestingly, i3 site is most popular in Malaysia. When you hop over to the i3 Singapore, you will realise few responded to calvintaneng's similar promotions. No wonder, calvintaneng prefers Malaysia i3 to Singapore. :-)

Just telling the truth.

>>>>
Stock: [TSH]: TSH RESOURCES BHD

10 hours ago | Report Abuse

This 3iii has caused the bankruptcy of investlah members by pointing people away from Pm Corp when it was below 20 sen and as a result they gone punting in stocks like Patimas and Sumatech

finally www.investlah.com also closed shop

i3 Admin Team better be very careful now
>>>>


If only what calvintaneng opined is true. Far from the truth.
Calvintaneng is not trustworthy at all. At least stay with the facts and truth.

It has maintained its “outperform” on Aeon Credit with a higher target price of RM16.95 from RM16.15 previously.


Kenanga

Good latest qtr EPS. Undemanding PE.

>>>
Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Sep 21, 2023 9:52 PM | Report Abuse X

calvintaneng of Netx fame promoted PMCorp at 15 sen on 20/9/2012 as he posted. Yet, I believe the majority of those who invested into this counter AFTER his recommendation or promotion, probably LOST money. Do you agree, Calvintan?
>>>

https://klse1.i3investor.com/servlets/forum/608694619.jsp
Blog: 10 ANNIVERSARY IN i3 INVESTOR FORUM (LOOKING AT PM CORP PERFORMACE) Calvin Tan

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Sep 27, 2023 6:29 AM | Report Abuse X

Blog: 10 ANNIVERSARY IN i3 INVESTOR FORUM (LOOKING AT PM CORP PERFORMACE) Calvin Tan

When Calvintaneng created this thread, it was an interesting heading. He obviously was highlighting his 10 years involvement in i3 and in particular highlight PM Corp performance.

My study of investor behaviour and psychology means another wealth of information on this topic can be gained from studying his posts in the early years of his involvement in i3, particularly in PM Corp promotion.

Not surprisingly, it was a treasure house to study behavioural finance.

I was interested to understand what happened to PM Corp before calvintaneng's promotion, during his promotion and after his promotion of PMCorp. Also, how the readers reacted. How sophisticated were those who followed calvintaneng? How did they make their investing decisions? How good was calvintaneng's PREDICTION or PROMOTION of this stock? Given his unopposed promotion, how effective was his style? How easily or how difficult it was to promote a stock? How many contrarian views? (Actually, I discovered during the early period, very few actually. But the few who expressed were very good, in particular, Fabien. I subsequently studied Fabien's approach in investing from his/her posts in this site.)

For the early posts of PMCorp now being ?deleted or ?not accessible, just points to only one thing. calvintaneng was not proud for his early promotion of PMCorp to be revealed and dissected objectively and factually.

There he goes again, just promoting and as Mr. See mentioned, boasting.

3iii


To our administrator in i3

My thanks to you on your thankless role.

However, our administrator in i3 should be more careful in looking at issues from many aspects before complying to requests of one group or another. I have never flagged any one in this i3 forum. If they are proud of their postings, they should let these remain forever. If they are not proud of their postings, why posted in the first place?

osted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Sep 27, 2023 6:29 AM | Report Abuse X

Blog: 10 ANNIVERSARY IN i3 INVESTOR FORUM (LOOKING AT PM CORP PERFORMACE) Calvin Tan
https://klse1.i3investor.com/servlets/forum/608694619.jsp


When Calvintaneng created this thread, it was an interesting heading. He obviously was highlighting his 10 years involvement in i3 and in particular highlight PM Corp performance.

My study of investor behaviour and psychology means another wealth of information on this topic can be gained from studying his posts in the early years of his involvement in i3, particularly in PM Corp promotion.

Not surprisingly, it was a treasure house to study behavioural finance.

I was interested to understand what happened to PM Corp before calvintaneng's promotion, during his promotion and after his promotion of PMCorp. Also, how the readers reacted. How sophisticated were those who followed calvintaneng? How did they make their investing decisions? How good was calvintaneng's PREDICTION or PROMOTION of this stock? Given his unopposed promotion, how effective was his style? How easily or how difficult it was to promote a stock? How many contrarian views? (Actually, I discovered during the early period, very few actually. But the few who expressed were very good, in particular, Fabien. I subsequently studied Fabien's approach in investing from his/her posts in this site.)

For the early posts of PMCorp now being ?deleted or ?not accessible, just points to only one thing. calvintaneng was not proud for his early promotion of PMCorp to be revealed and dissected objectively and factually.

There he goes again, just promoting and as Mr. See mentioned, boasting.

3iii


To our administrator in i3

My thanks to you on your thankless role.

However, our administrator in i3 should be more careful in looking at issues from many aspects before complying to requests of one group or another. I have never flagged any one in this i3 forum. If they are proud of their postings, they should let these remain forever. If they are not proud of their postings, why posted in the first place?

Blog: 10 ANNIVERSARY IN i3 INVESTOR FORUM (LOOKING AT PM CORP PERFORMACE) Calvin Tan

When Calvintaneng created this thread, it was an interesting heading. He obviously was highlighting his 10 years involvement in i3 and in particular highlight PM Corp performance.

My study of investor behaviour and psychology means another wealth of information on this topic can be gained from studying his posts in the early years of his involvement in i3, particularly in PM Corp promotion.

Not surprisingly, it was a treasure house to study behavioural finance.

I was interested to understand what happened to PM Corp before calvintaneng's promotion, during his promotion and after his promotion of PMCorp. Also, how the readers reacted. How sophisticated were those who followed calvintaneng? How did they make their investing decisions? How good was calvintaneng's PREDICTION or PROMOTION of this stock? Given his unopposed promotion, how effective was his style? How easily or how difficult it was to promote a stock? How many contrarian views? (Actually, I discovered during the early period, very few actually. But the few who expressed were very good, in particular, Fabien. I subsequently studied Fabien's approach in investing from his/her posts in this site.)

For the early posts of PMCorp now being ?deleted or ?not accessible, just points to only one thing. calvintaneng was not proud for his early promotion of PMCorp to be revealed and dissected objectively and factually.

There he goes again, just promoting and as Mr. See mentioned, boasting.

3iii


To our administrator in i3

My thanks to you on your thankless role.

However, our administrator in i3 should be more careful in looking at issues from many aspects before complying to requests of one group or another. I have never flagged any one in this i3 forum. If they are proud of their postings, they should let these remain forever. If they are not proud of their postings, why posted in the first place?

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Posted by SEE_Research > 1 hour ago | Report Abuse

Calvintaneng ; he is BOASTFUL
AND KEEP ON WITH HIS BOASTS
Quote from calvin
*** I MADE A NICE 1,000 % GAIN or
100 % COMPOUNDED GAIN PER YEAR FOR THE PAST 10 YEARS
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;-)

>>>>
calvintaneng calvintaneng

THE 7 PHASES OF A SUCCESSFUL PALM OIL COMPANY, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/...

Most probaly Bplant now at Stage Seven (no longer cheap)

Jaya Tiasa at Stage Four Going Into Stage Five offers better value

TSH going out from Stage Three to Stage Four offers the Best Value
26/09/2023 9:51 PM
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Going into?
Going out from?
Already out?

Compare this to the CEO buying 500,000 shares daily in the past.
Still a very strange way of buying everyday and the share price continued to drop.
Why?
Now that it is cheaper, the buying stopped: at least, calvintaneng is no longer highlighting any buying activities recently.

SGX
TSH IPO
Last Price 0.295
Today's Change 0.00 (0.00%)
Day's Change 0.29 - 0.315
Trading Volume 384,200

SGD 113,339 TRADED

What returns should we aim for in our long term investing? Probably 2x the risk free interest rate. Perhaps, if possible, aim for 15%.

Where a lot of money is in bank deposits earning very low returns, the return on the NAV is not going to be exciting. Moreov.er, the interest earned are also eroded by tax and the management fees. This would explain why a company is trading at a discount to the NAV. In iCap, the discount had been very steep, almost 40%+ to its NAV at times.

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To further explain the relationship between retained earnings and share price, take the example of a company that is selling at a PER of 10, so $1 of earnings is valued at $10, which for simplicity, is also its NAV. So if an extra $1 in retained earnings can generate $0.10 in new earnings, which will then also increase the share price by $1, at the same PER of 10, a 1:1 change. But if the new $1 in retained earnings can now generate $0.15 in extra earnings, this will produce a share price increase of $1.50 at the same PER of 10, in spite of the NAV increasing by only $1. If the new $1 in retained earnings is now parked in cash, which earns only $0.05, the share price increase is now only $0.50, less than the NAV increase. Now you know why share price discount develops even though NAV goes up.

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EPS
Retained Earnings (RE)
Returns on Equity (ROE)
Returns on Retained Earnings (RORE)
Net tangible asset (NTA)

Assuming all earnings are retained. No dividends given.

Assuming scenario where ROE varies:

1. ROE 5%
NTA or Equity RM 10
EPS or RE 50 sen
After 1 year NTA 10.50


2. ROE 10%
NTA at beginning of year RM 10
EPS and RE RM 1.00
NTA at end of year RM 11.00

3. ROE 15%
NTA at beginning of year RM 10
EPS and RE RM1.50
After 1 year NTA 11.50


Assuming you are looking for a return on your investment equal to the risk free rate of 5%,
- in scenario 1, you will pay 1x the initial NTA. That is the price = RM 10 PE =10x
- in scenario 2, you will pay 2x the initial NTA. That is the price = RM 20 PE = 20x
- in scenario 3, you will pay 3x the initial NTA. That is the price = RM 30. PE = 30x

On the other hand, if you aim for 10% return on your investment:
- in scenario 1, you will pay a fraction of the initial NTA. The price maybe 50% of the NTA = RM 5. PE = 5x
- in scenario 2, you will pay 1x the initial NTA. The price = RM 10 PE = 10x
- in scenatio 3, you will pay 1.5x the initial NTA. The price = RM 15. PE = 15x

This thinking explains why some companies are trading at a fraction of or discount to its NTA and why some are trading at a multiple or premium to their NTA.

This is a better way to understand valuation of stock.

Of course, having now determined the price by the above reasoning, we can derive the PEs accordingly as above.