https://m-bagger.blogspot.com/2019/12/success-of-bimb-restructuring-minority.html

Just my thought

Warrant exercise price is 4.72, why convert if one can buy mother at 4.45 now? Unless the plan is get everyone to convert, then have to push the mother price above 4.98.
Warrant consists of quite a few large individual holders (appeared since 2016) and i believe their entry cost is higher than 26sen, the SOA may not get approved or BIMB may have to counter with higher price.

Seems it is repaying its debt ASAP so as to free the cash pledged to banks(almost fully pledged). Then the possibility of dividend payment will be brighter with higher visibility in profit.

We will get back to the same page at some point :)

Probably not. With the correction recently, many counters with such PE offers higher dividend yield.

@dunspace, from asset backing perspective it is undervalued, more so investment in associates is not marked to market. From earnings perspective, no dilutive effect was computed and as per note in Diluted EPS, the explanation was not convincing as there are big numbers of warrants outstanding. PE calculation is correct based on EPS, but if we take outstanding warrants(265 mil) into consideration, the scenario may not be that fantastic though it may still be undervalued.

The value and price gap is not as big as it seems if we take into consideration the dilutive effect of outstanding warrant.

just my 2 cents
http://m-bagger.blogspot.com.au/2017/09/wce-leveraged-asset-play.html

http://m-bagger.blogspot.com.au/2017/06/priceworth-what-is-not-right.html

http://m-bagger.blogspot.com.au/2017/10/jaycorp-more-info-please.html

Good work Hau. I like the simulation model you put up in your blog. Keep it up.

http://m-bagger.blogspot.com.au/2017/08/uchitec-dividend-stock-turn-growth-stock.html

We can expect better dividend this year...after 3 years, finally I see changes in the standard wordings in announcement:-
"Barring any unforeseen circumstances, based on customers incoming orders which has been positive and encouraging,the Group expects revenue growth in USD in the mid to high single digit for the financial year ending December 31, 2017."

For the last 3 years, it was as below, they only change the year from 2014 to 2015, 2016 and even Q1 2017:-
"To the best of our knowledge, in line with the volatile economic condition, the Group expects revenue in USD to remain flat for the financial year ending December 31, 2017."

http://m-bagger.blogspot.com.au/2017/08/tuneprotect-taking-off-early.html

Agreed with you Jun Yu. The effect of opt in ruling has badly affected TuneProtect travel insurance . its other general insurance eg motor, I reckon the base has not reached critical mass to be competitive as insurance is dealing with probability and you need a sizable base to spread the risk. I will only add more if it starts to show improvement in travel insurance business.
http://m-bagger.blogspot.com.au/2017/05/tuneprotect-can-you-fly-like-airasia.html

Bsngpg...Ronie Tan is another savvy investor I look out for in Annual Reports..some of his other holdings include RCE Cap, Hevea, PetronM, Dufu, Latitude, MMSV, Mycron, Poh Huat and many more..

http://m-bagger.blogspot.com.au/2017/07/rce-cap-from-pe-pb-perspective.html

Extracted from 2016 Annual Reports

"Because of its pioneer status, UOM is currently not being taxed for income generated from the research & development and manufacture of pioneer products. However, this pioneer status
will be expiring on December 31, 2017. With the Group being at the forefront of new and innovative technology, UOM will endeavour to obtain approval from the relevant authorities to
extend its pioneer status and consequently further facilitate our efforts in applying new technologies in our designs, processes and products. Nevertheless, this extension is subject to the approval of the relevant authorities."

Sometimes we need to hang on to good companies in order to appreciate the effect of compounding.

http://m-bagger.blogspot.com.au/2017/07/simply-inspiring-anne-scheiber.html

Similar to bank, there is provision for impairment loss on Loan and Receivables every quarter (amount can be extracted from the quarterly reports). If we compare to Aeon Credit, the % of provision on total loan & receivable is lower. With growth in its loan & receivables, 6 mil provision per quarter for RCE Cap is not excessive. In fact, for FY 17 the net profit has already taken in total Rm27 mil impairment. It is part and parcel of a money lending business. Just my 2 cents.

http://m-bagger.blogspot.com.au/2017/07/ever-ready-shopping-list.html

Hi Sebastian, can you please enlighten on "Do you know who provide Sterilisation service to both giant plantation company??" .

http://m-bagger.blogspot.com.au/2017/06/karex-am-i-given-2nd-chance_8.html

@Mark Goh - Uchitech is a dividend stock, if it maintains the same dividend of 13 sen in FY17, dividend yield will be 6.4% based on Rm1.90. At Rm1.51, dividend yield will go up to 8.6%. I believe trust funds will provide very good support at 7% yield (price at Rm1.86), so not likely it will go down to Rm1.51 unless there is a major correction on Bursa or its business goes down badly.

http://m-bagger.blogspot.com.au/2017/05/latitude-mispriced-or-mistake_31.html

Yuanlong, thanks for the clarification.

yuanlong57..can you pls explain more so that I can learn also..do you mean unit trust fund now keeping higher level of cash in anticipation of market fall soon?

It's ROE is around 17%, i think its ok they keep profit to continue to grow. If ROE is low single digit, then I prefer them to give more dividend to me for investment in other stocks. Unlike some other businesses, cash is their inventory...they need cash in order to generate more business. Again my 2 cents.

Rcecap unlike banks, it can't take deposit from general public for its lending business. it needs to borrow or raise fund from shareholders to grow ( Aeon credit is doing right issues to raise fund). Hence, if it adopts high dividend payout, it may have to raise fund in order to grow. Moderate dividend payout and keeping fund to grow will be better for a smaller size company like RCE. My 2 cents.

Hong Leong's company highly efficient!

http://m-bagger.blogspot.com.au/2017/05/cement-industry-any-mispriced-stock_25.html

http://m-bagger.blogspot.com.au/2017/05/tuneprotect-can-you-fly-like-airasia.html

Red flag for red chips!

http://m-bagger.blogspot.com.au/2017/05/lysaght-back-to-growth-path.html

http://m-bagger.blogspot.com.au/2017/05/results-reporting-period-any-chance-for.html

http://m-bagger.blogspot.com.au/2017/04/value-unlocked-or-value-trap.html

Good sharing!

http://m-bagger.blogspot.com.au/2017/04/leveraging-good-or-bad.html

http://m-bagger.blogspot.com.au/2017/04/analabs-hidden-gem.html

http://m-bagger.blogspot.com.au/2017/04/dividend-stock-strategy-good-enough-for.html

http://m-bagger.blogspot.com.au/2017/04/eating-sardines-and-trading-sardines.html

http://m-bagger.blogspot.com/2017/04/superlon-from-pe-perspective.html

http://m-bagger.blogspot.com.au/2017/04/bonus-issue-share-split-good-or-bad.html

http://m-bagger.blogspot.com.au/2017/04/when-value-investor-meets-speculator.html

Final div proposed by BOD...need approval in AGM.

Good dividend yield for shareholders with low entry price...total 7.1 sen for 2016

It's kind of fun reading some of the comments here at times...it may trigger some thought you may not have considered. As a minority shareholder, I am equally concern whenever there is RPT... In this case the vendor is a subsidiary director, not at Heveaboard Bhd. We have been reading about the 2 families at Hevea not in harmony and even lots of smear tactics to tarnish the image of some board members. Question..have they resolve their misunderstanding and now come to conclusion to "makan" bersama? If that is not the case, I would see there is always a check and balance being in place. How could then a obvious case of unfairness to the other shareholders including minority can happen as claimed by someone in i3 ? Just to offer another side of argument whether this is a funny transaction.

Thanks Ricky.

Could not believe its from Kenanga Research..how can a wholly owned subsidiary of Amcorp get listed? Isn't wholly owned mean 100% owned?

The company is now in such a strong financial position compared to many years ago. Obviously the early investors has reaped good profit as the share price has multiplied many folds.
Of course we are investing for the future, so will it grow stronger or now is already the peak of furniture industry and it will start to make U turn? Its a million dollar question!

Even when there is slowdown/challenges in the industry, are we assuming that management is not aware of it and do nothing about it? Nothing is static and company evolves when industry cycle changes. The track record shown by the management so far provides more confidence than fear to me.
I agree with the writer that Hevea is a gem, but could not agree on the part it is “broken” as there is nothing to indicate that. Hopefully, we shall review in 2 years from now.