He is getting poorer? Questionable 1.2b deposits for JV projects still with him

My Stocks Pick for 2023
- Harta 10%
- Kossan 25%
- LHI 30%
- Supermx - 30%
- TopGlov - 5%

Thanks Mr. Tan

Since Maybulk performs annual impairment assessment on the vessel value, the realisation of 75% increase of the vessel value this year will be pure profit, which will come to total 89m for both vessels in Q3.

Last quarter result just announced yesterday was below expectations.

Half of the gross profit was from reversal of impairment losses. Can already forecast what’s the profit like even though MCO is lifted in future.

Only ppl work in audit line or finance division know how serious are these ‘trivial’ issues.

Current price makes more sense for me.
Not sure how EPF & KWAP think?

As usual, they're much more prudent in their investment.

EPF & KWAP think the same too...
Really not make sense.

Why repeat the same contents here.
Most of us would have watched the press conference last week.
I think we all know who is the T20 insider.

Who else?

Retailers see it as good news & immediately buy, fund managers see it as bad signal & quickly sell.

Issue statement: Audit findings
Facts: Petty issues
Actions:
1.Resolve it there & there with auditors, or
2. As advised, appoint independent reviewer

Issue statement: Audit findings
Facts: Fraud
Actions:
1. Try to sack auditors
2. Sack & reshuffle audit committee
3. Appoint lawyer to start legal suit to terminate auditors
4. Buy time to cover up
5. Appoint independent reviewer? Wait! I haven’t done no. 4!

Nowadays auditors are all very cautious in signing annual report due to huge penalty imposed on 1MBD case. Not everthing can kaudim.

Dont think any other big 4 firms will be willing to take up the independant review or replace KPMG as the new auditors.

Wont pass their internal due diligent process on new clients.

The ultimate objective of yesterday PC - Force KPMG to resigned:

Sections 430 and 120 of the Malaysian Institute of Accountants (MIA) by-laws states that a litigation between an auditor and a client will likely deter the accountant from acting objectively, and may only be addressed by ending the relationship.

KPMG is protected by being sued by SC act.

Under Section 320 of the Act, auditors are required to report to the Securities Commission Malaysia (SC) and the exchange any cases that adversely affect to a material extent the financial position of the public listed company (PLC), or any breach of securities laws and rules of the exchange.

https://www.theedgemarkets.com/article/kpmg-says-audit-was-proper-and-will-contest-serba-dinamiks-suit-—-can-company-sue-its

Dont you all see KPMG is firm on their stand? If they make mistakes, they would have done damage control much earlier to avoid the current situation.


Now, this stock has attracted short selling from foreign instituitions, just like TogGlove. Go and check the total net short position in Bursa.

It shows they have no intention to resolve the issues, just to make use legal suit as an excuse for delay of issuance of the annual report, & hopefully KPMG will resign as their auditor.


I expect KPMG will counter sue and instituitions like EPF will throw more of their shares.

Go study more of last quarter profit composition.

Dont mislead the investors & got a potential surprise -ve profit for the coming quarter due to fair value loss.

49m wb converted to mother shares & will be listed tomorrow.
Good luck guys!

Last Friday is quadruple witching day. Pls google if wanna find out more.

It’s our national team doing window dressing for KLCI using heavyweight blue chip like Tenaga. 1st day playing shares?

Same tactics like last year.
Whenever there was Malaysia public holiday, the big players will pushed up the price easily 10% in Singapore market.
The newbies will chase high the next day morning. By end of the day, the price went back the same like previous closing price.

It’s easy to be done, just spend few million ringgit in overseas market, whereas they can sell hundred millions in Malaysia. Volume is thin in overseas.

Beware!

From cash flow perspective, the company distributed lesser dividend even though they earned higher EPS since 2019. Hhmmm...

Who is attending AGM today? Any update pls?

Q1 result will be catastrophe due to reinstatement of export tax of 8% on CPO.
Good luck for those who rush in now.

What golden rules? He is the master of TA nowadays.

Another historical high monthly export figure for rubber glove.

Agree. Hold tight your tickets. Expect 50% to 70% up in Harta result, with additional 45 sen dividend.

Another boost to glove counters as a whole.

Why bother about comment of someone(s) who proven he is wrong in the glove stocks cycle? Logic tells you highly likely he will be continuously be wrong in predicting the cycle.

I’m not sure if China ASP price is cheaper or not for the same type of glove. But I’m very sure their share price definitely much higher in term of PE ratio.

The investigation is initiated by MACC & IRB. SC has not played any role in the investigation so far.
As usual, SC fails in their role to protect retail investors.
They are 60 over companies in this group, haven’t counted other groups, Not a single investigation initiated.
A big fail!

Kossan total net profit per quarter about the same with Supermx. Market cap is 35% discount of Supermx as at yesterday closing price. & Kossan demand higher PE ratio than Supermx prior to Covid-19.

Do you own choice on which counters to buy, or assess how underprice Kossan is if compared to peers.

Look at sustainability of the share price & not profit.

Do you own maths using DCF method.

All sour grapes.

If the profit is sustainable, Kossan's TP will be RM40 based on historical PE ratio of 25x.

Experience learned, dont buy the stocks that you're not familiar & giving out the wrong advice to the public.

For example, sell at RM4 for Supermx when the price now is rebounded to 35% higher at 5.40.

Margin account is a nominee account by nature.

JPM’s research is low quality with lot of flows. They don’t even know bother to adjust the target price for TG following the additional special dividend & HK secondary listing announcements.

By end year 2022, shareholders of TP might have collected closed to RM1.50 to RM2 per share dividend. Whether this dividend paid is added back in JPM TP? Seems like they don’t bother to answer neither.

This counter is a laggard play.
Historical share price & profit growth of other big 2, glove counters, ie Top glove & Supermx is a good reference for Kossan coming quarters earning.

Hold tight your tickets till coming quarter result.

The demands of lumber is not back to Malaysia yet.
The industries face stiff competition fr Indonesia & Vietnam.

Don’t get trapped.

Please avoid FGV for the coming quarter result:
1. Significant drop in CPO exports for Jan & Feb figures
2. Reinstatement of 8% export tax on CPO selling price

In additional, please exclude MSM profit contribution for Q2 & Q3 due to plant closed down. Loss contribution is highly likely.

Hold tight till the next QR result.
Export figures done very well for 1Q 21 for all glove companies.

For Kossan, gross profit will hit more than 1b.
If lucky, same goes to nett profit as well.

Bought back Kossan recently for laggard play. Even though Top Glove announced ASP for its nitrile glove going to drop 3% - 5% mom, Kossan still have plenty of room to increase its ASP.

Top Glove share price has fully priced in (or even still overpriced now), but Kossan still have potential. Expect to see the price upward adjustment for Kossan within this year once investors see divergence in terms of profit growth among these 2 shares.

Both FGV & Bplant has turned to profit making last year & declared dividends for 4Q20.

Stale news. Shahril Ridza Ridzuan is now MD of Khazanah.
He resigned as CEO of EPF since Aug 2018, almost 2 1/2 years ago.
Still can goreng?

Hmmm, who are those not so smart investors? The ones who sell high or the ones who chase high?

Retailers vs PNB. Who will be the winners?

GameStop has given you the answer.

Good luck guys!

Biggest shareholders ASB & PNB is selling big after the price up to 30% to 40% in 2 weeks to 1.30 to 1.40 to realise good profit.

After uncle Khoon gang bought so much only they know they bump into a hard wall. Very slim chance for them to win. Better stay away.

Tan Sri’s intention is very obvious. He wanna disposed part of his stake in the company & encash the money while the price is still good.

His shareholding has been diluted after hkex listing. In return, he got lucrative dividend payment.

Congrats all the retailers who are knowledgeable & dare to hold the shares till now.
Because of us FGV remained listed & being transparent with its account & policies.

FGV will stay listed in Bursa. Let wait for today's announcement.

All the selling pressure below 1.30 has been absorded by MGO. Bright sky ahead. Hope it follow the footstep of MSM to lead the plantation theme play.

Last quarter result of KPS quarter profit of 27m is mostly due to one off profit of 18.6m, being the proceed from SPLASH securitisation

Quoted below from the KPS QR release:

"Infrastructure Revenue of RM1.3 million was lower by RM10.5 million as compared to corresponding quarter’s revenue of RM11.8 million due to lower revenue at KPS-HCM as the infrastructure work at Pulau Indah was already completed and no new projects secured during the current quarter.

However, this sector recorded a higher profit before tax of RM24.0 million as compared to RM1.4 million recorded in the corresponding quarter 2019 due to the proceed from SPLASH securitisation of RM18.6 with higher share of profit from associate, SPRINT by RM4.0 million netted off with lower profit before tax at KPS-HCM."