Are they trying to take the company private?

haha. if u think its 6, then quickly sell lo ;)

AffinHwang valued MPI using PB ratio which is not a good way to value such companies. A better method would be DCF or PE.

Then why still here? Haha,

erm. you proved the point already. hahaha

aiya. the maths are easy. how much more can a company generating positive cash flow like pmetal drop? their assets > liabilities. their FCF also positive.

if the share price drop, just continue averaging down.

this 1 month damage - will be covered by insurance. upcoming plant - will increase capacity. aluminium price is at the trough and is bound to go up.

all bad news = opportunity to collect.

in 1 week, aluminium price went up 100 dollars. Hahahahaha!!!!

tomorrow....back to 3.4? :)

Aluminium premium - did not go down much. No issue with Pmetal. The more it falls, the more I buy :)

read on the edge last weekend that Ceedtec, one of Inari's subsidiary may consider listing in 2 years time. invest in Inari for long term :)

i have some reservations in this counter due to the large increase in inventories (?no customer) and the large impairment costs (?losing money in china).

however, there's some hope. there are new production lines coming in. management is positive on higher profit. hence, next 2 quarter report is crucial.

my personal TP for Tguan is about 2.9. good dividend yield, high NTA and the expansion plans in place would provide good support for Tguan. If it drops to below RM2, i will increase my stake.

Good because it reduces the interest paid
Bad because it dilutes your holding

there's a nice write up in the edge weekly. Monday will see some buying interest :)

strong rebound :)

the advantage of pmetal is of its low cost. at current almn price level, a lot of smelters in China will be burning cash daily if they operate. breakeven point for pmetal is 1800USD. even if the almn price drop to 1800USD, a lot of smelters around the world would burn before pmetal burns.

so, as long as pmetal continues to make profit, there shouldn't be much of a worry. averaging down and holding it should not be an issue.

LME base aluminium price approaching 2100 :)

ok :)

Surprise earnings tomorrow :)

From Financial Times :)

Aluminium Premiums: The Sky’s the Limit?

The queues at LME warehouses might be contracting but premiums for immediately delivery of aluminium – which are added to the benchmark futures price – are still sky high. But how much further can they go? The answer to this question will be widely debated. The answer will depend largely on the outlook for interest rates – key to the financing trades that have locked up millions of tonnes of the lightweight metal in warehouses – and also demand, which has been solid this year.

Related to this issue, there will be much discussion about the implementation of LME’s warehousing reforms now that the exchange has won its legal battle with Rusal. Delegates will also be keen to get an update on the LME’s new premium hedging contract.

The impact of the Ebola on the supply of bauxite – the world’s main source of aluminium – from west Africa is also likely to get an airing. And brokers will no doubt have a few choice words to say about the LME’s new fee structure.


So guys...time to get into Pmetal? :)

cheap sale. took 50k position in this counter :)

cheap sale :)

cheap sale :)

what a bargain now :)

Grr...i have no bullet to add !!!

Every fall of 5 cents in Inari, I'll put in RM20k to support it :)

Topped up at 3.1 :). Now the train to rm4 :)

Should I top up? It looked so cheap now!!!

Inari intrinsic value just shot up till RM4!!!

NTA goes up. Probable fair value is 2.50 at present (discounting the fact that other properties they hold has higher value than what is stated)

Was looking at the recently released financials. Fair value is around current price 1.05 - 1.10. However, the contracts secured for next financial year will exceed 2014 and hence, the fair value will certainly increase depending on how much it exceeds.

End of the week should be 2.10 at least :)

ooo...looks like 2.76 isn't far away now :)

Factory will be operational at the end of the year...which means that increased in revenue and profit will be reflected in next year quarter/annual reports. Good time to collect now. They already secured buyer for 70% of the total capacity.

At least worth 2.76 after the plastic cup is up and running!

Personal TP RM1...base on projection of 20% CAGR over the next 5 years.

I've unloaded all mine. Somehow, I felt that it's way past its intrinsic value right now (having said that, i did not collate the amount of contracts they received this financial year to make my computation, hence i might be slightly off). but this counter is definitely in my watchlist as it really fulfills alot of warren buffett tenets....except that its in a cyclical industry.

oh well. we know for every IPO, a lot of investors unload their holdings on day 1. that's why we see so many rich bumis nowadays. buy ipo, unload at day 1. no brainer right? government still say bumis are poor so as to keep MITI going.

Anyway, my thoughts are as follows

Business - easy to understand business aka publisher. it has a good brand and track record. it possess economy of scale. and education is considered a safe sector as during economic downturns, ppl will still need the educational books

Management - they have proven track record. their management consists of the founders and they hold a large amount of shares (founders usually wouldn't want to sell away their company on day 1 of IPO especially after decades of building it)

Numbers - CAGR of 20%. Low gearing. Positive FCF. Net cash of 2m if all borrowings paid off with current cash (before today's ipo). Good net profit margin - 16-17%

Valuation - based on the previous CAGR, i used a more conservative value of 15-18%, the intrinsic should be about 1.9 - 1.95.

anyway, what's important is what the company wants the ipo money for. company such as icon (conmaster) which used ipo proceeds to pay off borrowings is just plain conman.

sasbadi intends to use the ipo money to expand. although expansion does not guarantee profit, but it makes sense that sasbadi wants to use the money to buy other competitors to increase market share and to venture into new markets (online sector)

hence, if this stock goes down tmr, i'll definitely load another 20k without any problem.

TP 2. Their CAGR over past 4 years is approximately 20%. I use a lower growth rate to calculate the DCF. Besides, I trusted sasbadi as a teenager. And parents will never compromise on revision books. This counter is solid!

Disappointing. I thought I cancelled the order to sell at 1.88 last week but it went through. And now I missed the 10% capital gain. WTF!

i think another 2-3 days of uptrend and then correction will set in. hold tight :)

arcadius....everything is possible.

ooops....no more selling power.

this stock need some bonus issue/share split :)

No more pushing power?

if it drops further, can seriously top up. :)

yeap...agreed. will top up tmr

topped up again :)

whether you like it or not, brahims supply food to most of the airlines docking in KLIA. as long as people keep flying and eating (increase in y-o-y passengers) brahims will make money. the growth component comes from its vision to be a major player in the halal caterer segment. and don't forget, if MAS dies, brahims get a bonus payment. anyway, its unlikely for MAS to die now.

Go pay Kenanga write a good report lo :)

Previously, when dropping, everyone curse Brahim. Now when rising, the "I told you so" attitude emerge again. Such is the excitement of daily stock price movement.