Wow, a total of 300% from Kc chong's return in last 5 years. Isn't it fantastic?
I wrote my previous thread based on my memory and what I have read in this forum no other intention.
I also want to higlight to other icap shareholders that TTB is wrong in his forecast, sleeping on his 7million fees job as icap fund manager for past 4 years yet shamelessly ask icap shareholders to support him for the appointment of Tunku Abdul Aziz bin Tunku Ibrahim in this coming adjourned AGM on 30-11-14 at Wisma MCA.9am sharp.

Cannotahan,
Not just that, we can also make suggestion to icap board of directors to kick out drawing 7 million fees yet shameless, dishonest and sleepy fund manager for his underperformance in last 4 years by replacing any other fund manager who are diligently taking care of shareholders interst.

Icap fund manager, TTB painted as if the world economy is going to collapse since 2011.
Did he forecast it correctly or not after almost 4 years,While i-3 investors respected contributor KC CHONG happens to be a value investor has made at least 50% returns during the period TTB keep shouting bear market is coming. What does this tells us, Kc Chong is working so hard while icap fund manager drawing 7 million fees but is sleeping on his job.
As a icap shareholder, I am interested my investment returns , nothing more.
Obviously, he underperform, chances should be given to those who can make money for me regardless whether he is a Chinese or Englishman.

I doubt if market not crash in next few years, there will be no margin of safety, how long more can his die hard supporters sustain and wait before all their hair turns whiter.

Boon3,
You are outsider, yet you can see the icap's cash drained off so clearly. I must salute you.
But what about his die hard supporters? When he mentioned to them sit down and wait and treat icap investment as long term investment, they happily accept the facts without second thought.

As the owner, you even go to extent suggest either return back money to owners in the form of dividend or share buy but all sorts of excuses were given to brush you off or refuse to come to your point of suggestion. Instead ridicule you with petty issues.

Let your employes tell you off?

If you own a company, you see your employees drawing a big fat salary but end result for last couple of years not performing whereas owners of company in the similar trade making tons of money, can't you confront your employees?

Zalken,
Fund management fees + investment advisory fees from year 2011 to 2014 amounted 23.2 million.
A huge amount of $700,000 advertising fees which never exist in previous few years appear in 2014. What sort of advertising fees required when the fund is almost in hyper nation.
So, total up is about 24million.
The point I try to highlight is how much investors of icap gain in term of share value in contrast to the fees paid to its fund manager since 2011.
Sorry for 4 million discrepancy.

Instead of paying 28 million fees to sleeping TTB, I believe this amount is more than enough for other fund managers who are more willing and seriously to look after the interest of shareholders of icap. Perhaps NAV may more and not stuck around $2.9 to$3.09.

Since he is a sleeping fund manager, he thinks he deserve this RM28 million management fee.
If this RM 28 million is properly utilized as share buy back at a average price of RM2.40 per share, about 11.6 million shares will be reduce is the market float.
The gap between the share price and NAV will definitely be closer, giving better return to share owner instead of going into his pocket.

Why he does not want to propose share buyback in last few AGMs, it's because the share buyback will reduce the size of the fund, thus, reducing his management fees. It will be less than his current about RM28 million fee in total since 2011.

Thank Kc Chong for your effort in highlighting this issue at this crucial period to protect the share owners interest in I-CAP.

Please be reminded to all attendees,the venue of adjourned AGM is located at Wisma MCA on 30-11-14 , 9am sharp.

Just a reminder to all attendees , while you speak, if any of TTB supporters yell at you and ask you to leave, we can suggest to them to snap a photo of TTB and worship him at home.

I can't agree more what aptly your description is in the latest Icap AGM

The board of directors should lead the company, not the other way where fund manager leads the board of directors. Ultimately, who is going to accountable to shareowners?
Further, fund manager can be fired if sleep on his job or underperformed in certain given duration.

The 1st step to strip his power is to vote against Tunku Abdul Aziz Tunku Ibrahim from being elected as director in this coming adjourned AGM at Wisma MCA on 30-11-2014. 9am.(this coming Sunday)
Let other directors not his choice to be elected in near future.

Murali, pls not to fax but courier your filled proxy form to the registrar , tricot investor services son Bhd or by hand.

Metta, of course, I wish you to vote against the appointment of Abdul Aziz in this coming adjourned AGM. At Wisma MCA on 30th nov 2014 , 9am.thanks in advance.

If you confronted him about his performance in either AGM or seminar invited by him, he will ridiculed you with petty issues which I think as a paid fund manager, whether you like it or not , you have to show your professionalism to explain patiently to your shareholders

As pointed out by Laxey Partners and city of Landon Fund management, board of directors should not be the only one from the choice of TTB.
They also want their representatives so that fund manager of icap Bhd is accountable and not like the situation now. All control by TTB who is sleeping on his job

After the latest AGM, I can conclude current board of directors are puppet of TTB.

If Abdul Aziz is a gentlemen, he should just walk away and should not make any comment about the party he left. Just imagine how members of DAP welcome him when he just joint the party and even elected him as chairman of DAP.

I attended lastest AGM, a shareholder did asked this Abdul Aziz to come forward to explained his role in the company. You know what did he said, he only mumbling and only word which I can understand is integrity. I nearly got vomited as such guy has the integrity ? If so, he should left DAP quietly .

Murali, you are absolutely correct, this Abdul Aziz, is the one who joint Dap for about a year or so and backs tapped DAP 's Lim Guan ENG

I think our 7million yearly fees paying to TTB is notf worth at all as he has not done his decent job properly. To me, the fees is just like pouring into the drain without ant returns to shareholders of Icap Bhd.

Murali,
That is the reason why I spend my time here to highlight to current shareowners of icap Bhd to wake them up and make sure his puppet Tuanku Abdul Aziz Bin Tunku Ibrahim will not be elected in this coming adjourned AGM on 30th Nov 2014 ( next Sunday) so that their interest is protected and not mislead by TTB .

Calvin, why TTB bother to understand financial market, he has his icap Bhd which provided him comfortable yearly 7millions fees, what he need to do is to make sure his puppet Abdul Hajis being re-appointed on board of directors in the coming adjourned AGM on 30th Nov 2014, If he successeed , he can continue sleeping on his job as icap Bhd fund manager.

A lot of his die hard supporters misinterpreted why he got patient to wait for next crisis while some icap Bhd shareholders can't, they have forgotten that he is drawing 7m fees yearly from the company yet holding minimum shareholding.In the event if Laxey Partners see he is sleeping on his job, liquidation of the company is the only solution. I expect this day is coming just a matter of time.

Why he worry the ulterior motives others if he doesn't has one.

A printed copy of news letter worth around $1800 p.a 8 to 12 years ago can be sold at $25 p.a has 2 interpretations:
1. The quality of so called printed newsletter is in fact a toilet papers. Ask your wife who used to buy toilet paper from supermarket, she will tell you it cost more than that.so it is easily understood not worthy at all.
2. With his current snobbish characters and past couple of years of wrong advice,I believe he has lost a lot of individuals die hard supporters so he has to sell cheap to look for new one

Calvinteng, why he refuse to make investment decision, becos company has a lot of fund now .( As far as he is concerned), Once Lacey Partners pointed out rightly before previous EGM, he command the board of directors instead of the other way round.
There is no corporate governance such as accountability , he treated Icap Bhd as his grand father business. What he interested is slowly accumulate his wealth by drawing big fat fees.

687423, in investment field, not everybody will make a consistant good investment decision. In the case of Warrant buffet, he admittedly declared in public he had made a lousy investment in Tesco and loss a substantial sum of money.
Look at TTB of ICap Bhd, if you confronted him for sleeping on his job, will he admitted is mistake ? while any Tom , Dick and Harry making good money in stock since 2010 to 2014.

Ykloh, TTB says, he practise margin of safety, in year 2010,and 2011 market was high, he said you sit down there and patiently wait for his investment decision.
In 2012 market went higher, he asked you to sleep there to wait while you see your peers who invest in stock making good money.
In 2013, he said margin of safety was total out in Malaysia stocks and while he went around the world holidaying.His big fat fees was non stop flowing into his pocket .
In 2014, you ask him the same question again why not stock to invest, again he said all sorts of excuses and telling the word as if the stock market will crash in near future.
Worse still, he said you are not happy with his style of managing Icap, you can always sell and not to get involve with ICAP Bhd.

He is shameless fund manager, not doing his job properly ,yet want to dominate the board of directors.
I once heard his ex- staff complaint about him, he makes the investment decision alone.
Currently, he is managing icap bhd, capital dynamic global fund and capital international fund, which according to him, the later 2 funds cover about 40 countries. Do you think he can take care of Icap Bhd wholeheartedly?
What he is interested is to collect his fees and tour around the world and shareholders foot his traveling bills.
That is the reason why he is so worry his puppet director Abdul Hajis will not be elected in this coming adjourned AGM, he even go to the extend of conducting so called road show to appeal to his royalists to come all out to help him.

CEO not just get big Gaji Buta, but also abused the conduct of 2014 AGM. It ended shareholders have to pay extra-cost organizing Adjourned AGM 2014 for a minute resolution.

If a fund manager's expertise is to collect cash from fundholders and keep them in the bank while waiting for next ecomonic crisi, what sort of expertise of fund mangement can he demonstrate?

Any tom dick n Harry who hold value stock in last couple of years are easily outperform icap, yet the one who manage icap think that he is the greatest in fund management.

Perhaps he should enlighten us in the coming adjourned AGM to clear our doubt.

In that case, I guess the cost of his current tour to Malaysia with his staff to garnish support of his personal agenda in the coming adjourned Icap AGM also may partly financed by icap and hide in the advertising expense that will be appeared in 2015 Annual Report.

For a fund house like icap, what sort of advertising required? Looking for employees?
No, he said he runs the firm himself and outsource the clerical work to others
What objective does he gain to spent such huge advertising fees?

shareholders must safeguard their own interest by thinking independently. Don't be mislead end by TTB who owns a few shares yet drawing around $7m fees in total, $700,000 advertising fees, $91,000 accounts fee( fee pieces of contract notes).
All the above figures can be obtained from 2014 Annual report.
For advertising fees in 2013 Annual Report, it was merely $20,000

For a fund house like icap, what sort of advertising required? Looking for employees?
No, he said he runs the firm hisself and outsource the clerical work to others
What objective does he gain to spent such huge advertising fees?

Murali , I totally agree what you said, shareholders must safeguard their own interest by thinking independently. Don't be mislead end by TTB who owns a few shares yet drawing around $7m fees in total, $700,000 advertising fees, $91,000 accounts fee( fee pieces of contract notes).
All the above figures can be obtained from 2014 Annual report.
For advertising fees in 2013 Annual Report, it was merely $20,000

All these happens is due to there are no independent third parties strong enough to monitor his management that he can easily abuse the shareholders money in ICAP.

I can't agree maore what you said. But I want to add more, as long as he is his puppet and money paid by Icap Shareholders, who care?

I apppeal to those shareholders who are attending the Coming Adjourned AGM to "Vote Against" Abdul Aziz Bin Tuanku Ibrahim as director of the company who are puppet of TTB.

I once support Laxey to have other directors of TTB's choice in previous EGM but not succeeded.
See what is the consequences now, cash sit in the company but doing nothing and ask you to wait.
He happily drawing his yearly fees but share price not perfoming.
So what did shareholders get?

1901, I agree precisely what you said, As far as money is concerned,any fund or company needs independent directors to safeguard the interest of the co/fund.
Look at Icap,TTB only interested to appoint pupppet and he is the only one dictate the terms and could not care for those reired shareholders who need regular money for surviving.