i just joined you guys this morning :-)

Anyone knows why Insas Receivables are so high and why bulk of profit comes from other opeating income ?

WTI Crude just went up 22USD which is less than 10% but our all professional fund managers are going in. Most companies will still have huge losses or drop in earning based on this price or even if price goes back to 30 USD

no real track record as developer and even top tier developers are now suffering. u look at the article also u shake ur head. even the name cannot be more creative. every idiot calling their place damansara until today. Shah alam also can be damansara. Embayu ? Sounds like a copy from IJM Rimbayu

business out there all dying due to MCO now as it is, not even mentioning about taking additional loan to buy more properties

Post removed.Why?

I read the article. It's says preliminary stage and will roll out in 2019.

And it also says no more NGO, which means either ahfad u don't know what ngo means or u think myeg is a governmental body

Either way I don't really care coz in 2 weeks when the price is at the new low, you will be missing like nazri

Your basing your decision on UOB Kay Hian who is giving an opinion ("they believe") that they will win if this system even gets implemented.

I read and listen to news and reports to get factual news not opinions. Anyway look their last 10 analyst calls and u decide if u want to trust them

They are so many ebidding marketplaces online over the past 10 years and yes its not high tech and doesn't cost an arm and a leg. And yes it will be one off with no recurring income as why would DOT give the contractor recurring income at all?

Last chance to exit while Ts Wong and company is still trying to support share price. Im surprised that there are still retailers going in when KWAP and EPF are selling down ? They still have plenty to sell and they will likely clear everything..

When prices crash, they will be support at every level. So you wont see it dive start to zero at one go. Every level will have support and once its broken the next level will be tested. So dont take this temporary recovery as a sign of strength.

Look at the overall trend whether its a graphical or statistical one that you choose and try and use that to justify yourself buying.

Dont listen to all these silly analysts who are been asking you to buy ( including Macquarie Group ), look at their recommendation and basis. They only can talk about historical PE and earnings but no one dares to comment on reliability of future earnings.

If you are a shareholder of MyeG, i just want to remind you that Ts Wong has lost close to RM20M of your company cash buying back shares the past 2 weeks and he has also lost a fair bit himself.

I dont know why people can think of buying just because they think its cheap. I only buy things because i think it can go up, whether cheap or expensive. If its cheap, and upside is limited. How to buy ?

Its clear KWAP is selling and still got a lot more to sell and EPF buy back volume is not enough to sustain. The truth is most funds not should be selling, but have to sell. Arent they bound by policies if a stock or investments drops by more than 30%, they have to justify keeping it. So funds are unloading to retail investors likely.

For those still holding, better recoup some and fight another battle. If there is another limit down, you will not sell anymore coz once you lose enough, you will be blinded by emotion and you will leave it there.

Over the past week or so, they have bought 32m shares back under company, and already lost 20-30% which is approx 7-8m for you.

For those that think govt contract signed is no risk, all the construction companies with existing govt jobs are under scrutiny especially those that were awarded without open tender. We only thought the big megaprojects but even the smaller ones are in question. VOs will definitely be an issue and payment from govt for contract works can be deferred until they are satisfied.

With big funds exiting, it means they managed to con retail investors the past few days to go and buy / support.

No more announcement for related party buying or company buying back share price which indicates they gave up supporting at least for now and probably knew funds are exiting. As a courtesy I think funds would normally informed before selling down.

I doubt any upside, better recover capital and redeploy somewhere else.

UOB Kay Hian. Whats a stupid recommendation. Buy 92 target 1.06. Might as well dont write a buy report. Especially for this kind of stock, either your strong believer that it will rebound 30-50% or drop. No even the char koay teow seller is looking at 15% for this stock.

This is why all these analyst fail to create any impact.

Angwk, I don't know about you but I definitely invest into companies that focus growing their core business and not try and make money via share buy backs etc, as should let market forces decide the value of your shares. Coz it will ultimately be decided by market anyway

Even if they climb up from this market to market loss ( as they are currently losing on 30m Shares on higher costs) and make a profit, I don't know what to think of it.

I don't know which is worse. Pay 20 PE for mgmt that needs to gamble on share buyback or the fact they have cash of 200m plus is sitting there and generating a poor Fd return.

You can ask around other investors about their feel on special dividend if they have offered one. Don't take my view alone.

Anyhow, Im surprised how silly the management of the company is. It is was me, instead of using so much cash to buy back 30m own shares and now lose money, just announce to a big special dividend to support your own stock since they have the cash anyways. This would better support the stock.

Im sure he going to continue using company funds now to continue supporting the share if it gaps down or limit down.

Its these kind of bad decisions that make me think this company has really weak management

Interesting. TS Wong disposed and bought on the same day. No time signature so you can only assume either he sold first then bought back cheaper, or he was trying to defend and bought 16.5m and later cut loss selling back 5.6m

If he sold 5.6m at higher price, then later bought back more at cheaper price i think a lot of people would be pissed.

Next question is the 20m shares company bought back, was this part help him sell out 5.6m at a higher price? or just a failed support operation.

Read the interview. TS Wong admitted that this is not 'rocket science' and this is not really a TECH company per say. Its more like a govt contractor.

Many companies even in Malaysia can easily bid for the same piece of pie, Datasonic, Iris, DNEX just to name a few and not forgetting that there a ton of of ACE counters are mostly tech / software companies that can also JV with foreign parties to get the job done.

If you really think its they have superior capabilities, just share with us what they can do that others cant. Where is their intangible / intellectual properties in ? Coz previously PE was 40 times, now its 20 times.

IF you pay 20 times PE, at least know what your paying for.

http://klse.i3investor.com/servlets/staticfile/328651.jsp

George kent does construction really ? I didnt go into detail but lets see this key facts:

1) Since becoming a 'rail specialist' their balance sheet does not reflect it or any sort even if JVs are on a 50:50 basis. Look at their PPE machinery assets growth over the past 5 years, look at the receivable growth. Doesnt look like they took on a large construction project. If you say all the figures are not consolidated, you dont see any large cash out to associates for these JVs.

2) Contract or even turnkey margins are not that high( avg is 10-15% GP for normal jobs, for highly skilled maybe 20%GP ). You can use the 'real specialist in construction' like IJM, Gamuda, WCT as benchmarks on what kind of margins to expect. If it was so profitable, why do all the big construction companies like those mentioned above now try to diversify to other businesses.

3) What does GKent actually bring to the table for JVs like with Gamuda. Its the Najib connection i would assume, why does Gamuda even need to JV with GKent

4) HLIB report link above for a different view. However, this so called analyst doesnt even know GKent doesnt really do construction or even if they do, you cant call them a 'rail specialist' just after doing a few jobs over a short period.

5) Yes fundamental on historical look good. Even today if Gkent was as good as IJM, Gamuda, etc, there is a tendency that new govt would want to not give it them all things being equal due to previous affiliation with previous govt. Unless of course, you say better and cheaper and better track record then to be objective ill say yes.

THis is why Najib stocks are all down. Not coz they got no fundamental based on historical, but its the future.

should be fair to retail investors and let them sell. i would be damn pissed. why they control the price

KUALA LUMPUR: Bursa Malaysia Securities has frozen the lower limit price for My EG Services and George Kent with effect from Wednesday after their shares were battered over the past two days.

In an announcement on Wednesday, the regulator said the lower limit for MY EG was RM1.27 and George Kent at RM1.94.

Energiser follow the simple rule. If you buy whatever at whatever price, whom do you plan to sell to and at what price

Normally we hope that funds will buy at a higher price so we sell out, provided its a good counter. In this case, construction related is now on the negative list together with property stocks.

You have to assume that there are a lot of smart people in the market and they are normally smarter or sharper than us.

Here, look at Annual Report 2017 last few pages. All the top 30 shareholders including Tan Sri + wife account for 69%

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=180989&name=EA_DS_ATTACHMENTS

That should be already aggregated. Anyone who is deemed related party shareholding will be consolidated.

You have to look who are the shareholders of Kwok Heng Holdings Limited, Kin Fai International Limited, Suncrown Holdings Limited and Star Wealth Investment Limited.

Major shareholders of those companies should be both Tan Sri and wife.

Similar to MyEG, many want to sell cant even sell coz the moment it opens, its limited down. I have friends trying to cut loss also cant and the question is tomorrow what price to put to sell.

From a industry point of view, now is exit all construction especially infra / govt related. You can ask your friends in supporting industries like steel, hardware, building materials what they think.

Why catch a falling knife when there is limited upside.

You can check your sources coz mine told me ( who knows Tan Sri himself ) already flew out on the 10th of May after the result. There is confidence for you.

They were reporting good profits previously but with the re-negotiation of contracts margins will only come down and eventually the 'fat' will be removed from the equation and then actual contractors that actually do the work will then ask why do we need Gkent anymore, what do they bring to the table.

I doubt Tan Sri holds 80% as that would in breach of minimum shareholder spread and also breach the threshold to call for General offer.

anyone know how is the new mall in Paradigm mall in JB doing ?

1MDB contracts exposure for WCT doesnt seem large, a few hundred vs their orderbook.

Stop pretending that anyone here has any influence on the demand of this stock. Its institutional play and hence price will be supported as long as they want to hold it. Also, look at how many sellers on board.

You can go ahead and sell. We be collecting from you.

That is exactly why Insas at such a low PE. They don’t have a good reputation but do make money. I won’t comment if their model is sustainable but they won’t give good dividends so no point writing to them. They are good in doing deals, so you can forget about it if you think they are going to do us any favors.

If you only look to value companies based only PE you would definitely be inclined to buy this counter. Think about all those stocks that are severely undervalued and why they are actually discounted by the investment community.

A lot of those are strongly recommended by Calvin Tan like MUI, BJcorp, Etc.

I’m going in. Obviously too many people using general statements and not looking at what they could be missing from this buying opportunity. The fact that you think it’s MS buying, means you don’t even understand that MS is buying of behalf of someone.

Bulk of shareholders are institutionals and this a national media company that they cannot afford to be non govt controlled.

Calvin has the Ironbank of Bravos supporting him. Market up don't sell. Market down add more.

This is the biggest con job.

https://www.thestar.com.my/business/business-news/2018/01/26/airasia-x-registers-better-operating-performance-in-q4/

For a moment, I thought this a q4 announcement of results but it talks about 'better' operating profit instead of actual profit so that means it most likely didnt make a profit, and they timed this article when q4 financials results internally are probably known to some people ( December closing figures ) but pending announcement by next month.

I will only say this for the benefit of those who are undecided. Airline industry is a terrible industry to be in due to many various factors from unions to rising costs to intense competition. Look like all the airlines worldwide ( SIA, Cathay even and they have low-cost carriers too ) and you hope that AA will do better.

Only reason AA is successful today is the Malaysian factor whereby they had cable/ connections to open up and do only the profitable routes with little competition and had access to financing and political support due to his business partners. Look at how AA has done overseas. Nothing to shout about and lost a lot of money too. AAX is even worse as long haul flights they have to compete with all the other airlines and some people actually prefer standard Economy paying up to 20-30% more to have full service on a standard Carrier since its a long flight and their flat beds are not cheap for the price

Oh and dont forget that people keep reminding us that oil price is now at 71 and is expecting to continue to rise. Im sure someone will come out and say that they are fully hedged but I doubt they are and even assuming if they are, eventually my question is do you think they can pass on higher costs to consumers in this kind of market

Unless there is a corporate exercise that we dont know about, this is a T+3 push and will drop later.

The problem with that view is that this company is undervalued not based on current earnings or future earnings potential but purely on its potential asset revaluation. So many what ifs especially when you look on how negative property related sectors are. If you like undervalued assets, they are plenty of property stocks that are at a all time low.

If they do sell assets, then the next question is whether Duta Yap is going to screw the company with more inter-company transactions as unlikely he will reward us with a hefty dividend.

Dont worry this company has some fundamentals and is in a cash position. Quite certain will bounce back. If drop some more, time to go in big.

I rather hold this than all the other O&G stocks that are still making losses and purely speculative.

TomYamGong, you been wrong so many times I think you better go back to cooking Thai food then cooking stories. The latter requires some substance to cook a good story.

Who actually follows recommendations especially by local research houses, they only tell you things you can google and find out in an instant and their financial analysis is usually very shallow anyway. Not to mention their target price which is normally 10 to 15% of current market price which makes you wonder why even bother publishing the paper in the first place.

MS is not buying, they are nominees and buying of behalf of their client.

Media has monopoly businesses and obviously some people valued them, some don’t. I believe Media will spike soon due to GLC play and majority of shareholders are govt funds and not small timer retailers like us here

Everyone busy at SAPRNG catching the falling knife for rebound

Not easy to 'fake push' this kind of counter with this kind of volume. Its normal to see some 'gurus' that miss the boat come out and give negative comments in hope that they can buy back if the price drops.

When prices continues to rise, they will suddenly disappear. Once price drops, you will see a busload of those sour grapes.

More like sapu la or some poor la

Hard to catch a falling knife. Could be anyone guess. Wanted to dabble a bit for fun but everytime I didnt it fell even more.. been watching from 90 cents all the way to now 70. If every time it hits new lows, systematically some will decided to cut loss as those is probably the max they are willing to lose.

Its true, if you still holding you should average else just sell. But if your already over exposed, you probably shouldnt. but if you dont, your going to miss half the ride up eventually.

What happened to the clever people saying WD will drop back to 17 cents due to contra force selling? I guess today must be contra players buying up so uptrend for the next T+3 then.

Normally when you see these type of jokers, just do the opposite. High chance you make more money.

Im waiting for 1.20 too. Time to clear stock and cover Xmas expenses :D

Price you bought doesnt really matter so much. What matters is how much you bought.

Smartinvestor1, MNC is a rubbish company my friend previously sold it to these bunch of syndicates. Just giving you the heads up ya

Benny, I hope your right but dont forget. Even if the sale goes through, what makes you certain that he will give a dividend and not reinvest into something else that doesnt enhance shareholder value.

Ivan19511, dont worry this stock will recover. I think its already much oversold and has upside will come when they start reporting operating profits. Business transformation takes time / costs and this a monopolistic business.

Do you blame them for losses from MNI ? Hong Leong Group also took an equal chunk of losses and had to write off the whole thing in the end

To me this development is worthless as KKP is still chairman. Who knows maybe his son got fired or got tired of working in the real world so daddy give him CEO post. Nothing changes as all reports back to Chairman anyway.

Anyone have anything to share on the recent AGM ?

I think I have to go with Newbie2014 on this one.

Look at his profile
(a) Barrister-At-Law, Lincolns Inn, United Kingdom.
(b) AHMA Hotel Diploma Major in Sales & Marketing, London Hotel School, United Kingdom.
(c) Degree in Law, Master of Arts, Cambridge University, United Kingdom.
(d) Master of Business Administration, Seattle Pacific University, United States of America.
(e) Bachelor of Arts Major in Political Science, University of Victoria, Canada.
Working experience and occupation (a) 2016 - 2017: Chief Operating Officer of Swensens and Director of Group Business Development in ABR Holdings Ltd, Singapore.
(b) 2012 2015: Director, Food & Beverage Division in ABR Holdings Ltd, Singapore.
(c) 2009 - 2012: Non-Independent Non-Executive Director of Malayan United Industries Berhad, Malaysia.
(d) 2009 - 2012: Non-Independent Non-Executive Director of Pan Malaysia Corporation Berhad, Malaysia.
(e) 2009 2012: Executive Director of Network Foods International Ltd, Singapore.
(f) 2004 - 2009: President of Cambridge Alliance Holdings Ltd, Victoria, Canada.
(g) 2002 2003: Director of Corporate Affairs and Special Assistant to CEO in Laura Ashley Holdings plc, London.
(h) 2002 2003: Special Assistant to CEO in Corus Hotels Limited, Milton Keynes, United Kingdom.
(i) 2001: General Manager in County Hotel Epping Forrest, London, United Kingdom.

Hardly had a REAL job outside MUI Group, from Corus, Network Food, PM Corp, MUI positions. Also, shows that he is an academic lawyer with NO experience, Cambridge or not.

Catalyst would be hire a senior Goldman Sach banker as CEO of MUI Group. That will instantly give you a catalyst. KKP doesnt need to sell any assets actually to pay his wife. An old man like him who has been screwing shareholders the past 20+ years plus, would have definitely have had a cash pile somewhere and dont forget he cashed out BEA stake past few years.

If one of the UK assets have entered agreement, doesnt a formal announcement be required to be made ? Im a bit skeptical that this group especially will disclose anything material during an AGM, I would expect some general lip service standard responses.

Seriously? PE 12 for a bus company / terminal ? Everything I see is negative. NTA 17 cents and bank borrowings are also not low and share price already 28.5 cents. What are you paying a premium to NTA for ? Their bus operations or petrol stations ? I dont know which is worse. I hope your not thinking that the value is in a terminal which can be obsolete or redundant in the foreseeable future.

Worst part is PP after they are pushed up the share. For who to cash out ? If they had such viable business why not call for a RI and give shareholders a good discount / deal to invest more. Doesnt look like they can borrow much more.

People are moving into investing high tech and now we are talking about MRT / HSR.

This landsale to Greenland was already confirmed earlier so everyone knew that IWC would report this 'one-off' profit in this quarter and probably some in the next quarter. Investors dont give credit to 'one-off' extraordinary gains unless its a cash profit with dividends out.

Question is, is this real cash profit ? Dont forget that IWC has to inject 20% equity into JV with Greenland of which 20% of 2b+ is how much ?

Look at the cashflow and you'll see that the cash position didnt improve, in fact they increase bank borrowings by another 110m and they bought lands of about 200m+ ?

Someone who has studied the Greenland SPA including the terms of JV development profit should actually comment here. If Greenland delays the launch of development, how will this affect IWC

At the end of the day, if IWC was really so good..why didnt they just ask for RI to raise more funds if they have such a bright future. And what synergy is there really for restructuring with Ekovest.

I'm in. Anyone can tell me what is their Odyssey strategy

There is mention of quoted share invesments 200m+ above ( note 18 ) but no detail that it is OCBC in latest annual report 2017. Thats why I asked.

You can vote but i doubt your vote will matter. Before they made the announcement, they would have counted enough proxy votes to vote in their favor else they wouldnt have taken this risk to make this announcement.

PE seems high and property sector exposure is negative on market. There must be some other hidden reason why he wants to do this restructuring as i dont see it as good in any way.

Contrarian how did you confirm this ? The OCBC holding