Philip , Thanks for valuable value-trap write-ups !
Really learn a lot from that, pls keep it up and share with us your knowledge and experience !

Small 4 Glove counters almost go LIMIT UP !!
Baby Ice cream will be LIMIT UP next !!

Ice cream share cap very small only = 200 millions, 2 big bosses controlled 45%, so public only hold 110 miliions, once put on burner for frying, one day can SHOOT UP to 0.60 already !!

All Ice cream lovers, sit tight !
After finished frying Big 4, now frying Little 4, ..... Baby Ice cream will be NEXT !! For sure !!

I just read from the star news, the gearing of the following glove counters =

Harta = net cash 31 mil
Top Glove = net debt (2.2 billion)
Kossan = net debt (245 mil)
supermax = net debt (254 mil)
comfort = net debt (49 mil)

just for computation, if they can repeat EPS of 3.6 per year going forward,
valuation with PE of 20 (the most conservative) , share price will be 72ct + 10ct cash = 82 cts
PE of 30, share price = 1.08 + 0.10 cash = 1.18
PE of 40 (crazy value as per glove but stil half of glove ! ), share price = 1.44 + 0.10 cash = 1.54

Ice Cream best profit year is 2016, around 7.3 millions, EPS = 3.6,
if they can repeat that (very likely or even better due to glove's boom time), and with net cash of almost 10ct per share, based on KC Chong's fair valuation of their PE shall be :-
current share price = 40ct, minus cash per share of 10ct, net price for PE calculation shall be 30ct only !
forward PE :- 3.6 / 30 = 12 ! ( I myself shock to compute that !!)

comapring to present Top Glove / Harta PE= 85, supermax = 74, comfort = 53 !
I just read all glove companies (except Harta) have high gearing

The more and more glove makers to expand or new players venture into glove making business, the only end beneficial will be none other than ICE CREAM !!

the next QR out around end July might not reflect that yet, but if the CEO 's outlook comment is good there, the price will SHOOT UP, the QR out at end Oct, 20, end Jan, 21 will be huge !!

I guess Mikecyc is a day trader and had bought at highest price of 0.595 recently and suffered contra loss , get so frustrated and came here to spam to vent frustration !
Very common in i3 and many share investment forums, losers will normally came and vent anger and frustration when they suffered loss !!
Jaks forum recently got so many F words here and there because many people suffered loss and frustrated !!

As I always say, if you are value investors and hold long term, the prospect is very good for ice cream :-
Not only big 4, small 4 and tiny 10 etc rush to expand and replace their over-worked / spoilt hand formers, many players want to enter this juicy business nowadays .... glove makers are going to fight against each other for market share soon, BUT .... still minimal competition amonst this second liners hand former business... simply because it has been largely ignored by investors !!

Before common investors notice this, it is time to collect at cheap and wait to SELL HIGH to those realize later to panic buy !!

Do more homework and equip yourselves with knowledge and education , so newbies won’t get “game over” too soon ! Friendly advice !!

Too many newbies and ignorant people in share market nowadays !
Can’t help , many Tom dick & Harry ,either uneducated or under educated in investment all jumped in to F around in Bursa !
To those newbies out there, if you could not understand the terms of agreement or the plain language of latest announcement , pls buy some basic books on accounting or companies law etc before you comments lah !
If still lost and not able to understand , read my analysis or go around ask intelligent Si Fu etc !
LOL

Lasseters International (Kamal Tan as director & sub shareholder) is a casino operator in central Australia !

Seems like Ice Cream Big Boss Kamal Tan (25% share) is a big shot in international business !

The more I research, the more i am very sure that the stated profit 19% out of 2.3 mil investment of RM439,990 is almost SURE PROFIT for ice cream for the next 2 years !!

I think the board are quite fair with the deals and shareholders' interests is protected.
Besides nowadays listing rules are quite strict also, not easy for insiders to be hanky panky !
Big shareholder Kamal Tan is (extracted from annual report) :-

"Dato’ Kamal, who is also a Substantial Shareholder of the Company, graduated with a Bachelor Degree in Economics from the London School of Economics and was actively involved in his family’s banking, insurance brokerage, trading and printing businesses in the early years of his career.
Dato’ Kamal is currently the Executive Director of Envictus International Holdings Limited, a company listed on the Singapore Stock Exchange where he oversees the general management of the business operations."

(extract from Envictus 's website ) :-
"Dato’ Kamal Y P Tan is the Group Chief Executive Officer of the Company and was appointed to the Board on 23 December 2003. He was appointed as the Executive Director of the Company upon its listing on 23 December 2004 and has been redesignated to the current position since 20 January 2009.
Dato’ Kamal is an Economics graduate from the London School of Economics and has held board positions with companies listed on the stock exchanges in Malaysia, Singapore, Australia, United Kingdom and India.
Currently, Dato’ Kamal is also the Non-Executive Director of another company listed on the Singapore Stock Exchange, namely Lasseters International Holdings Limited. He is a Director of Cypress Lakes Group Limited, a public company in Australia and is a Board member of Park Hyatt Saigon, a 259-room 5-star hotel in Ho Chi Minh City, Vietnam.
Dato’ Kamal was re-elected as Director at the AGM held in January 2015. Dato’ Kamal is the brother of Dato’ Jaya J B Tan. "

What I learn is Envictus is a F&B company and surprise surprise ! Lasseters International also listed in Singapore !! (who is to guarantee the 2.3 mil lend by Ice cream to the JV prop company, you can feel even more secured learning about that !! )

More so, this big shareholder's profile is so great with many directorship in at least 4 listed companies ! (1 in ice cream, 2 in Singapore, 1 in Australia)

Just need to do homework to understand better.

For few years , we used to see KYY vs KC Chong 's blogs critizing each other , or OTB vs many other (or the same person) unknown person cursing with crude languages, now the current i3 hot fight will be bewteen Calvin vs Pillip !!
LoL !

After reading numerous stock gods, stock kings, stock gurus, stock bloggers in i3 , let me sum up their views on EITHER (i) Glove theme or (ii) Oil & gas theme play going forwards :-

Glove-play supporters :-
1. KYY :- cut loss at O&G Dayang, recommend investing in Glove counters, Sai lang in comfort & supermax
2. Ooi Teik Bee :- cut loss at O&G, (apart from Jaks & Mtag) also recommend comfort & supermax
3. Clavin Tan :- chun chun calls on all glove counters, big or small, profit or loss , even recommend sanitizer-play !

O&G supporters :-
1. Cold eyes :- never mentioned about glove at all ! continue to promote O&G for long term, recommend Armada, Serba, Yinson, have substantial holding in Aramda.
2. Phillip :- Chun Chun buy what you understand approach, sold off all Top Gloves and switch heavily into Serba, Yinson, Petrochem.

KC Chong & Icon8888 :- been low profile & quiet ??

LOL ! I just state the facts and let the investing community to decide !

Glove ? O&G ? Glove ? O&G ? ? ? ? ?

I just dug deep and checked the previous public comments in Ice cream forum and that's what I found :-
1. according to members attending previous AGM, CEO Wong Fook Lin is a very humble and approachable persons, most minority's queries he will answer with honesty. Even queries vide email can reach him direct for answer.
2. He didn't talk big and lured people to invest, he just stated the facts and didn't over-hype this company.
3. As for the diversified investment in hotel or property developemnt, the JV agreement is for subscription for preference shares, meaning Ice cream will get paid of dividends (if any) first before other common shareholders in Lasseters (the biggest shareholder of Ice Cream, Kamal Tan is also a substantial shareholder in the property company) and ice cream will get priority in getting back their money first if there is any liquidation of the property company ! (read the JV agreement please )
4. 2.3 mil investment in the prop company do not need shareholder's approval,(as they have already subscribed) but for further fund of investment (around 90%) they need to call for EGM for shareholders' approval, (Kamal Tan (20+% share) can't vote, minority still have the chance to block and query) and as per 30-4-20 announcement, they decided not to proceed with the subscription of shares in the prop company.
5. how about the 2.3 mil invested ? according to latest announcement, the prop company must redeem (pay back) by 2-3-2022 with the rate of 1.1913. Meaning the 2.3 mil is like loan (bond) to the prop company with flat interest rate of 19.13 % for 2 years ! If the prop co can't pay, Kamal Tan's other company Lasseters International, guarantee to pay !!
6. Of course there is risk to shareholders, if Lasseters go bankrupt or Kamal Tan's company Lasseters international also fo bankrupt, 2.3 mil burnt ! But good news is 2.3 mil is just minor exposure with minimal risk.
But I think it is highly unlikely, Kamal Tan's own shareholding in Ice cream (around 20%) easily worth (40mil x 0.40) = 16 mil at present market price, can he default at 2.3 mil ??
7. On the other side of coin, (which is more likely) if Lasseters redeem the shares, 2.3 mil investment will give shareholder returns of 19.13% on 2.3 mil = 439,990 (about 0.2 cent per share on other income, much better than let the idle cash earning chicken feed of 2% p.a from bank FD !)

I just analysed on facts, hope fellow shareholders won't get over worried on this issue !

Recent i3 stock gurus' fight show :-

Top-Glove-Philip vs Chun Chun Call Clavin Tan .......
Round One ! Ding Ding Ding !

LoL !

Recent i3 stock gurus' fight show :-

Top-Glove-Philip vs Chun Chun Call Clavin Tan .......
Round One ! Ding Ding Ding !

Our "Chun Chun Call" Calvin Tan has been chun chun call over bursa 's 1,000 counters since the beginning of i3 and is the most profitable chun chun call investor .... by his own standard (of course) ! LOL

https://www.theedgemarkets.com/article/gst-level-field-es-ceramics

"According to Wong, ES Ceramics’ current capacity is about 100,000 to 150,000 formers a month, which is equivalent to a full month’s glove former orders by big glove players such as Top Glove Corp Bhd and Hartalega Holdings Bhd. "

Read this passage, Big 2 's one month orders already can fulfill their whole month capacity in 2015 ! Now ? I guess the CEO is busy expanding their output capacity until no time to talk to press !!

Their best ever annual profit is RM6.3mil in FY17, around EPS = 3.1 ,
for conservative PER = 20, fair price = 0.62
high side PER = 30, price = 0.93
if follow crazy Top Glove's PER = 80, price = 2.48 !

I just found out sth by reading their latest QR :-
share capital :- 22.9 mil ; retained profit :- 21.9 mil
Good enough to declared around 1:1 bonus if they want !!

Their BS & PL is so solid and good for value investors !
Just that they are low profile and haven't been talking to the press !

Just analyse in such a way :-

1. For glove making industry, we have Big 4 (in fact is Big 5, Riverstone, operation in Malaysia but listed in singapore !) Little 4, and many many tiny more ... operating day and night in order to fulfill crazy pandemic-driven demand all over the world at the moment. Everybody wants to expand output capacity, or even new players planning to enter this juicy business at Covic-19-hype period.
sooner or later down the raod, you will see tough competition amongst all the glove players, suppy will out pace demand ... profit margin drops.... inventories pile up ..... just an oridnary cycle for any business !

In fact most glove companies might already reach their fair value or even over value for those unproven small glove company !

2. Many investors still ignorant of the fact that at glove's hand former sector, there is little competition out there, only Big2 in Malaysia, Ice Cream is the Tai Koh, another 2nd Bro Ceremtec is not listed.
Ice Cream in hand former sector is just like Top Glove in glove sector, the biggest Tai Koh !
If all glove companies over optimistic to expand, their glove hand formers will surely fall into these big 2 , and they will enjoy the least competition in their sector as no other big players can carry out big orders !
.... bearing in mind , they have yet to be "hyped up", enjoying the least and minimal publicity, thus has the potential to explode once they announce their propsect in their coming QR !

Do you choose to invest in a over-hyped-glove-theme in which the glove players are facing tough competition soon or hand former players they are enjoying duo-poly sharing of the cake and still be ignored by investors ??

According to recent QR announcement by 2nd Bro (Harta), 3rd Bro (Kossan), 4th Bro (Supermax) of Bursa glove companies , they are all planning (or already opening out) their new factories, production lines !!
Tai Koh Bro (Top Glove) will announce QR next week , and expected to sing the same song in order not to lose out to others !!

With BIG 4 brothers all rushing to expand, LITTLE 4 brothers (comfort, rubbrex, careplus, adventa) will definitely follow soon, even using your backside to think you also know those expansion will SOLELY BENEFIT the only ice-cream licking baby brother who make glove's hand former in bursa !!

Kmwong8711. Supermax ceo is a good friend / business associate to ice cream s CEO ! If Superman want to expand , tonnes of hand former orders will surely be placed to ice cream !
Another good news for ice cream !!

That's how i understand malaysia Bursa's small caps are being played with ! LOL !

kmwong8711 , depends on how good this stock is to be pormoted !
short term might be up-down 0.36 - 0.45 (for traders)
medium term (1/2 - 1 year) can be 0.40 - 0.60 if CEO quiet and no publicity.

If one day the CEO starts talking to the press, analyst starts covering this stock, any of this malaysian stock gods KYY, cold eyes or famous i3 bloggers OTB, KC Chong , Icon8888 etc recommend it, TP is easily RM1 or above !!

Don't forget, so far CEO hasn't talking to the press for 2 years d ! (last press release is 2018 AGM)
only a few investors or traders bought this counters due to Chun Chun Call Clavin Tan's write up !
Without Chun Chun Call 's chun chun call, I almost forgotten this hidden jewel !
The potential EXPLOSION is there !!

Today is the t\show time for all glove big 4, small 4, second-liners !
Ice cream is the most under value among all those glove companies !

Ice cream is the biggest glove's hand former maker in the world and the only one listed in Bursa !
Almost no or little competition to their business !!
Balance sheet & P&L is pretty !
Plan to be transfered listing status to Main Board soon !

Any other good reasons for you not to lick and suck Ice cream ??
BUY BUY BUY !!!

"This time it is “healthcare.” Companies are queuing up to make facemasks, PPEs and other goods currently in demand during the Covid-19 crisis. Can they make it? No one knows now but investors have to be aware of a few facts.
Most pharmacies and convenience stores are now well-stocked with facemasks and hand sanitisers. There is no shortage and that means supply is abundant.
Then there is an export ban on face masks that is still in place. Those wanting to make face masks will have to sell in an increasingly saturated domestic market.
China has ramped up production of facemasks by 450% in February and it made half of the world’s supply in 2019.
China is not the only country making PPEs and facemasks. All over the world, production has increased. "

I have been reading this kind of news nowadays, other PPEs & facemasks can be easily produced all over the world ! or even aunties at home in India can produce facemask !

Not for gloves ... but we have big 4, small 4 or (tiny many more ?) glove companies and I have yet to read any news that other players involving in "glove hand formers" ! .... sounds like monopoly or oligopoly business ?? "economic moat" ?

Most glove , health care counters (good or bad, profit or loss one) already sprinting but ice cream is still just warming up !

When Chun Chun call Clavin Tan start promoting this counter, surely it will go UP lah !!
Chun Chun call got many followers also what ?!

Good analysis !

Beware of words from "cold eyes" recently also, this kind of company can be "value trap", if being under value for too long, the major shareholders might one day take it private by offering 10-20% above its suppressed market price !

words of wisdom today (quoted from others) :- 当一个行业飞的时候，通常不是基本面最强的起最多，而是股价最便宜的会起最多！
Ice cream is still the cheapest amongst all glove-related company !
Many factors I listed above could easily trigger the share price into rocket-pace !!

Malaysia stock god "Cold Eyes" heavily promoting oil & gas companies these few days !! Time to collect !!

Malaysia stock god "Cold Eyes" heavily promoting oil & gas companies these few days !! Time to collect !!

I like Chun Chun call Calvin Tan 's FA write up when he dug deep to analyse the account of the company !! Can't agree with you more !

armada is Cold Eyes's favorite ! Don't know whether he is still holding substantial shares ?

If demand of oil resume to pre-lockdown level, avaerage TP by all research houses for Velesto is 0.40-0.45 !!

Recent posting by Cold eyes also recommend hold long term on oil & gas counter !!

knwong8711 then nothing for minority to worry about !
Just shaking legs waiting for ice cream goreng to explode !!

My suggestion to board of ice cream :-

1. come out to talk to press regarding your future plan , invite fund managers to participate
2. use your fat cash of RM20mil to start acquiring those small hand former competitors (fastest way to expand )
3. transfer listing from ace to main board soonest

If any of this happen, all minority shareholders can really have a good time to lick and suck ice cream goreng liao !!!!

Chun Chun call clavin,

facemask & sanitizer has thin or no margin, because too easy for anybody to produce, and tough competition from world factory china ! If you check the retail price of mask & sanitizer for the past 3 months , you know what i mean, once china lifted lock down, the mask & sanitizer retail price dropped drastically.
Only day trader can use TA to touch those counters, best to sell before they annouce their QR !!

Rubber gloves only been produced in Malaysia & Thailand, because we have readymade main material rubbers here, zero delivery cost for this material, China wont's do that because they will incur higher cost. thru out the past 20 + years, glove factory have built up their reputation, skills facilities and experience to export to all over the world.

Come back to ice cream here, if they are still the biggest manufacturer of hand formers IN THE COUNTRY & PROBABLY IN THE WORLD as reported 10 years ago, then this company could be enjoying the best hefty profit period of their life time !!

Biggest and only listed in bursa, they might enjoy near-monopoly or duo-poly market in hand formers sector ! Almost all rubber glove factories in malaysia & thailand have to order from ice cream for hand formers, because at this glove-demanding urgent time, ALL glove factories in this region (malaysia & thailand) expand their capacity, running hard at their hand formers and surely spoiling more, demand for hand formers will definitely rise !
nobody or few existing readymade factory can mass deliver this special products to glove manufacturer !! They are the hand formers KING, they dictate the price lah !!

I think maybe their next QR won't show huge improvement yet, because of MCO (don't know they allow to run factory during those lock-downed 2 months) ? BUT.... the next next QR is going to be record huge !! ... or news that all glove factories placing huge orders to ice cream !!

mike555, if you read the starbiz report carefully, they do not recommend you to buy those 23 companies ! In fact, they hinted that some companies are hype-playing and over value !

such as those companies rushed in to do face-mask, sanitizer, text-kit, IT related etc products. Those products have low entry-barrier, and most are lousy companies with lousy loss-making track records ! You go and research you know which cos I am talking about.
For example, face mask, now china factory can straight away produce X5 capacity and flood the market and squeeze the profit margin ! do you invest in those bursa companies just talk cock in press and said they are producing face mask now ??
Once those companies announce their QR with loss again, the share price will drop like F or the companies in deep trouble !

The report suggested only glove-related companies which is peculiar in Malaysia as the only competitors are from within malaysia and thailand comapnies are worth looking into !

https://www.theedgemarkets.com/article/acquisition-pains-over-es-ceramics

Read the edge report done 10 years ago on Ice cream :-
1. they are the biggest manufacturer of hand formers IN THE COUNTRY & PROBABLY IN THE WORLD !!
2. replacement period of hand formers is eight to 15 months, depending on the intensity of the production run in the rubber glove plant.
3. In 2010, their net borrowings is (RM23.9 million ), now they turn it into net cash 20 mil !! hard cold cash in their bank account, no fake accounting paper profit !! also means they accumulate around 40 millions cash in their account !!

https://www.theedgemarkets.com/article/es-ceramics-seeks-new-revenue-streams

https://www.theedgemarkets.com/article/es-ceramics-sees-better-earnings-visibility-fy19-pickup-orderbook
in fact they are big enough to be transferred to main board but they keep delaying it because want to save cost !!

share the articles and hope you can invest based on FA !

the only thing this company is lacking .....


Promotion & publicity to the mass investment public !!