What direct benefit you need? Every time government expand civil service. That is the direct benefit.

Note:
IWC selling 127 acres to Greenland was announced way back in 2005, and its share price hovering around 70 sen to 80 sen for years since announcement.

KS55, i cant seem to find the announcement in 2005, they say its announced in 2015.

2 more bad quarters lai lai.

Annualising this 2 quarters, EV/EBIT for the company is 26.33. Super High, liihen only 6.

If the price drop to 1.13 or ratio of 6, limpeh will buy. No idea how bad or enduring this cost struggle will last.

RM2 i start buying.

i actually dont really care about teh rest of the divisions, construction prop dev, got other better and cheaper companies.

The only thing i want is the tolls.

gift Why worry so much? Dato will not simply kill his companies. This is just proposal to test the market. He can withdraw his proposal anytime. Just today, he lost RM200 million on paper. Do you think he will insist want to proceed if the proposal is not working? He knows the consequences than us.

Let market to react on this and we buy low as we can. I believe Dato has the better decision after the market reaction and the analysis from professional company.
01/11/2017 18:38

Why would he care about short term fluctuations. He owns the companies. If he really want to fry the stock. He'll split out the tolls into IWCITY, and swap the lands into ekovest.

Ekovest looks interesting at this price. Will be much more interesting at 0.9, 0.8 or 0.7 (pls pls pls). Need to study alot more.

both are expensive though.

In April 2014, there was also a fire in liihen. Similar, bedroom sets affected.

http://www.kinibiz.com/story/corporate/79553/factory-fire-to-hurt-lii-hen.html

For the quarter ended June 2014, profit was up 150%

Just keep only lah.

Its expensive now.

Labor problems, low USD etc. Should sell some off.

Post consolidation in April 2016, it has gone up from 0.75 to a high of 1.92 in May 2017. before coming down to the current 1.52.

How is 0.75 to 1.92 not insane. It was 150+% gain in a year, Granted it was very undervalued then.

Airasia also similar story, severely undervalued at 0.9, the shoot up like mad to 3.1 in less than a year. The went down to 2.1 for no reason other than it has gone up a lot previously. so people want to be stupid. Then shoot up non stop to 3.5

Another stock to look at is AEONCR. Every year, the revenue and profit is up. For the last 8 years. And yet the price is up down, left right centre. Why? Market stupid and people sentimental. Only know how to look at the chart at malaysiastockbiz, dont know how to read annual report and do their own chart and research.

If you see Warren Buffet purchases, he's buying a lot of synchrony financial. Its also a non bank financial institution, somewhat similar biz. Go do a comparative analysis in terms or ROA, leverage and P/B. You will see how insanely underpriced RCECAP is.

Having said that, im wating for next quarter result. Before i do anything else, unless price drop 10% or more. My limit for a stock in terms of percentage of portfolio is 25% (very very fantastic company at great price). This is now at 7%, i can top up later.

I'm an ex auditor, its my job to know the standards :)

There should be something like 50 basis points changes for the CET 1 equity tier. But other than that. It wont be that big.

Every single news article about MFRS 9 is negative. And every bank forum is talking about how bad it will be. This indicates to me that it is already incorporated into the price.

The only question is how accurate is the market.

Good for you. if you know, let us know, quantify it. Not just some stupid argument about sentiment.


KLCI King I have been monitoring this counter & it kept going down, I know the reason why it is down & you seem don't know why as you thought it was up like mad before.

Guess you don't know about Bank Negara ruling & new accounting standards to be applied to all banks and you are blind about the impact of it.

So, please continue to enjoy yourself with the market to buy when it is cheap.

The only thing important to you and almost every klse investor is next quarter better than the last, no matter what.

No need to bs about div or whatever. When was the last time you held a stock for a year.

http://www.theedgemarkets.com/article/minimum-wage-go

Minimum wage going up again.

JOHOR BARU: Furniture manufacturers, struggling to meet growing overseas orders because of a worker shortage, are losing business to countries like Vietnam and Mexico.

Johor Furniture Association president Koh Choon Chai said that this will result in a 20% drop in business this year.

“This is not good for the country’s economy,” he said, adding that Johor is the largest contributor to national furniture exports, at 63%. Other major contributors are Selangor and Penang.

Most of the exports go to Australia, Japan, the United States and the Middle East.

Koh said furniture factories have been hit by a manpower shortage and will be unable to fill vacancies quickly once their foreign workers finish their contracts and return home this year.

He claimed the country’s inconsistent foreign worker policy is a contributing factor to the issue.

He said the association lauds the Government’s willingness to consider easing the limit on foreign workers for export-oriented manufacturers, as announced by Deputy Home Minister Datuk Nur Jazlan Mohamed on Tuesday.

He urged association members to seize the opportunity to replenish their workforce.

“The lack of workers is the main cause of delays in furniture delivery. Manufacturers’ average delivery times have stretched from 45 days to 85 days since May,” he said yesterday.

“And the 45-day delivery period is longer than what it was two years ago – just 30 days.”

Koh said that more than 10 furniture factories in Muar, reputed to be Johor's furniture hub, had to close this year because they could not cope with the worker shortage.

Sub-contractors also found it hard to manage because of the worker shortage, he added.

Koh said manufacturers in Vietnam and Mexico offer competitive prices and faster delivery times.

“Most of the orders in Mexico come from companies in China. We might lose our international customers if we cannot keep up with the fast-paced market,” he said.


Read more at http://www.thestar.com.my/news/nation/2017/10/12/furniture-exporters-expect-20-drop-in-business-this-year/#V69eH2y4qeTczaYi.99

http://www.thestar.com.my/news/nation/2017/10/12/furniture-exporters-expect-20-drop-in-business-this-year/


Yes release

Ill see you guys again when if it drops 10% or goes up significantly.

heata, that is irrelevant. Relax

link please heata.

I dont mind it stay low for awhile, this stock is at least undervalued by 100% and still has incredible amount of room to grow.

Can slowly add as long as fundamentals stay the same.

Then again i only bought at 1.55 not higher like some here.

does RCECAP have access to the CCRIS system by now?

If I'm razali, and i want to extract the monies to the detriment of minority shareholders, how will i do it.

Ok,

Just so we are clear.

Puncak Berhad will buy Pimpinan Ehsan Bhd stake in Triplc for 210m. Its not a general offer to buy all the shares in triplc.

Triplc Bhd, will move listing status to Pimpinan Ehsan Bhd.

Current plan is after listing status is moved, Pimpinan Ehsan declare div in relation to the 210mil paid. (not fully confirmed)

Correct?

This should be a 10 sen share.

The LA should never trade at a premium or deficit to the mother, since it can be converted at any time.

If its at a discount, people will buy the LA and convert to mother. If its at a premium, people will sell because its overpriced and has a lower div yield than the mother to begin with.

So basically, the play is this. whenever it is trading at a deficit, buy and keep.

The management is rubbish, no question. The question is, is the price cheap enough to provide some value? I think so, but then again, you want your money is rubbish company anot?

EV/EBIT is actually only 3.3. Its really low.

Beary OTB, No doubt you didn't physically point a gun asking people to buy.

You did that by persuasion, influence and sweet talking.

You are exploiting the naturally greedy human behavior.

Does it makes any difference how you do it?

Your intention is to convince people to believe you and do as you say.

You have a choice of making your money quietly and respectfully if you are really that great.

Just buy quietly and wait lah.

It is obvious why you'd rather come out and face criticism and brick-bats time and time again.

You need people to chase the price higher and higher for you and your subscribers.

You are nothing more than a money game or a pyramid scheme organiser.

Not inaccurate. I am a little irritated by all the sifu, buying their stock first and then getting everyone buy after at higher and higher prices.

If you're stock is so good, you can never buy enough. In fact you would rather the price don't go up at all. But this is not the case apparently.

Most i3 sifu seem to be more keen on having greater fools buy at higher and higher prices.

Petron and Hengyuan were good buys, i still hold them, but at 10.30 and 8. There are better buys. But sifu's all promote this because its the hot stock now.

Singgang,

Yes. That's what investing is about.

The easy part is investing in companies that hit you in the head with how cheap it is. Say "Puncak" which is trading at less than 30% of net cash. Or "Farlim" which at one point last year has a net cash high than their market cap. and this is a well managed property company that is profitable. Or other companies like Plenitud, Favco etc etc.

The hard part, is placing a value on the competitive advantage, the business modal, and the people of the company. There is a value, and this is where its really really hard, cause you can end up overpaying like how i think KYY is overpaying for eversendai and jaks. Or how the public is overpaying for tesla.

I like elon musk, i think he's a bona fide genius and a god level operating person. Problem is, at standard valuations, Tesla is worth 4 billion. The market cap is 60 billion, you are paying 56 billion for elon musk. He is brilliant, but is her 56 brilliant? Not for me.

Like i said this is an art, and im wholly aware that there is probably something i missed out on. And i would like you to tell me if you know.

Because you dont know what you dont know. And i dont want to be smart but stupid on some fundamental level i never considered.

Kristal.

I don't do target price. If you bought public bank in 1960 and had a target price, you would have made thousands and lost millions.

I look at fundamentals. If the fundamental story changes, ill make my mind then.

The fundamental story is this,

"Timecom have an incredible moat that consist of being the best and cheapest provider in an area that has exponential growth and recurring income. And their competitors will find it incredibly hard to compete with that at least for Malaysia. Their pure optic fiber network advantage will not be easily overcome-ed, without a lot of money and time.

They intend to bring this business model to other countries.

Data usage will increase exponentially, and the only real threat is 5G (which is still a dream) and their execution ability (they did well so far)."

The thing i dislike is how it is fairly priced or slightly overpriced at the current price. At every level from 2010 to 2017, its always traded at EV/EBIT of 25. Other than in 2013 or 2014 when it went as low as 13 EV/EBIT.

But funny thing is this. Public Bank have never been cheap from 1960-2017, same can be said for Amazon and Google etc.

At the end of the day, if you want to buy a great business that you can understand, chances are others will already know about it, and so you're gains wont be fantastic in the short term. But given time, and i mean a lot of time (not 1 year or 2 years, but possible 10 year plus horizon). Due to their incredible moat and ability to allocate capital efficiently. You can expect incredible returns.

I expect Timecom to be my retirement fund.

Now if TIMECOM reaches something outlandish like 40 EV/EBIT, i might sell some, but not all. I dont want to sell everything and accidentally forget about this amazing company .

Thanks.

I sold mine at 1.9 some time back.

I made an error. It is undervalued in comparison to other rubble glove stocks, in fact on EV/EBIT, often more than 2 times cheaper. The problem is, its an undervalued stock in an extremely overvalued industry.

Which makes it still overvalued. At current valuations, its the same as Carlsberg. Id rather own carlsberg compared to supermax if the valuation is the same.

Lesson learnt. Tuition fees paid.

https://klse.i3investor.com/blogs/PilosopoCapital/133077.jsp

Analysis on timecom

So lottery for both Philippines and Malaysia, revenue and profit drop. Only reason for gain is due to high car sales from UK division, and forex gain.

Shit result.

@R40s

It was definitely not cheap then far from it, too much expectations. I started buying mine at 1.4, and thinking back having finished my research into all 921 companies in the bursa. Its not that cheap either. But oh well, you live you learn. Now its cheap ish, its cheaper than 90% of the companies in bursa, but not cheap enough for me haha/

R40s if prlexus went down instead, would you be saying that you should have bought others instead?

Ignore volatility, outcome is not probability. Focus on value only. I like it at that price i buy, dont like i sell. Didnt open my itrade for 3 weeks d. My thinking become much clearer, Will only open to buy and sell, and allow myself to open once a month unless big news come up that changes the fundamentals of any of my holdings in a big way.

Fair value is at most 15.

This is not fundamental analysis. This is goreng analysis.

Even now, still 30 pe, very expensive.

See you guys at 10, if it drops that low.

Ex div.

Lai liao, 100PE company with drop in profit. Tmr will be interesting.

My guess is that the syariah funds are still dumping. You would be pretty dumb to sell now. EV/EBIT is only 2.8. If this was like plenitude etc, mght not be much of a bargain. But this is a business that is expanding. Dont know how fast or how slow. but at 2.8 its cheap.

Should buy or not? Up to you, the real meat in investing is comparative analysis. There's a lot of cheap stocks in the market.

Liihen is cheap, Pohuat is cheap, petronm is cheap, hengyuan is cheap?, L&G is cheap, fimacor is cheap, pba is cheap, daiman is cheap, plenitude is cheap, so many cheap stuff.

Good god, how did this forum turn into the evergreen one.

Just relax man. Who cares what he says, look at the price, do some analysis, if you still like it, buy some more.

The go out eat lunch, have sex, listen to music and chill. Don't always at i3. The real loser are the people who waste so much time keep responding to CKCS loh.

Profit dropped due to:
1. rubberwood cost increased
2. shorten of workers
3. biological assets written off about RM1.2 million
4. net forex loss about RM2.4 million


First 2 points is no longer relevant. Second one maybe still somewhat relevant.

You guys must be a special kind of dumbasses, what makes you think it wont drop? You think this is the only stock in bursa selling below NTA is it? When it shot up 20% that is the time to sell, not buy.

Unless management actively looks after shareholder interest and buy back stock, stocks like these will always be selling way below NTA. This is a 1% of portfolio stock, where you sell if shoot up.

Posted by optimus9199 > Aug 24, 2017 05:11 PM | Report Abuse

net profit down 2%, pays 4 sen dividends

Horrible result! Everyone sell sell sell!! =P

Good result. GP up 24%. Drop is due to last year other income turn to expense this year.

Plus the land is revalued every year. Good practice, but this means they are no hidden assets in the company. RM4 is the absolute highest intrinsic value of this stock. Not exactly optimal. They are many other companies with hidden assets if you want to buy.

Btw, the 8.72% does not take into account borrowing cost, which should be 4-6%. So really this management invested money at 2-4% CAGR. Which means on average, the management is better off putting the money into FD.

So, 400% return over 19 years on the disposal of land.

Thats 8.72% CAGR, which is sub-optimal, but better than FD.

The thing you must not forget about net asset plays is that, the reason the stock is a net asset play is due to years and years of misallocation of capital to assets with mediocre return. Its cheap now, and it may continue to be cheap for a long time, unless management decides to unlock the value.

Its worth holding a little bit, say 1% of portfolio. But dont expect it to go up next week, next month or next year.