Repost Windy1974 comment:

Mar 26, 2023 5:42 PM | Report Abuse

Hi SSlee. My guidance in spending and investments are based on %. I studied investment and financial planning in my 20s. As per financial planning, you could allocate maximum 10% of your investment in speculative stocks for higher than average gains. I knew this theory in my 20s but then it had always been 100% speculative stocks for me. I wanted fast money, can't wait. Well, my ending was obvious. Not only did i lost 100%, i was in debt of RM200k before i was 30 years old from contra loss.

That was then. As of now, my equities consist of 60% in REITs with an average yield of 6% nett. 30% cash (Since i believe market would go lower), and 10% in stocks i won't yet consider speculative (Even CapitalA).

You raised valid arguements, i didn't bother to look into it. And i won't insist that CapitalA would get out of PN17 unscathed. I bought CapitalA for few reasons below.
1. I have traded CapitalA or AA for at least 6-7 times to date without a loss. Holding time frame range from weeks to 1 year plus and minus. % gain from 2% to more than 100%. It seems to be my lucky counter.
2. I am prepared for a loss of 40%. As for gains, depends on how well the regularization is.
3. Short term, CapitalA's profit growth only gonna continue. (i paid double for my Dec 2022 and Dec 2023 Japan trip compared to before pandemic)
4. I like the fact that regularisation plan is months away. That's when volatility is high

Someone not even know what CapitalA net current liabilities of RM (9,067,503,000) mean?
Can Mike please explain to him?

As at 31/12/2022
CapitalA net liabilities is RM (9,427,491,000) of which net current liabilities is RM (9,067,503,000)

Can CapitalA fulfill the obligation of payables/sales in advance/lease and maintenance payment/borrowing and etc that due in 12 months time. Net current liabilities of RM (9,067,503,000)?

M&A Securities.
2022: 2021
RM'000: RM '000
Revenue: 48,528,611: 68,906,186
Other income: 26,801,446: 26,711,036
Remisiers' and dealers' commission: (8,632,71): (21,688,041)
Staff cost: (26,676,664): (30,669,269)

Know how much CapitalA pay Stony and Kama?

Good morning Philip,
If you are interest to do so,I can personally take you to meet up with CEO Dato' Wong and you can do your due deligence.

Do not need to do quietly, you can do openly with borrow money from Insas credit and leasing.

the historical financial performance of M&A Group as follows:
Audited
FYE 30 June
2019 2020 2021 2022
RM’000 RM’000 RM’000 RM’000
Revenue 26,314 36,978 68,906 48,541
PAT 6,552 9,172 18,764 17,916
NA 169,063 170,288 182,707 193,374

Who ever work in stock broker will know pay is based on commission from revenue generated.
So what is the increase revenue from 2020 to 2021.

If the SC found Prolexus in breach then Prolexus will need to offer MGO at the price of the 5 days average weightage Prolexus last bought SMI.

This is what SMI management make a report to SC about whether your "friendlies" is in fact PAC (persons acting in concert)

Last Tuesday (April 4), SMI announced that over 20 parties, comprising companies and individuals, were acting in concert with Prolexus Bhd's units — Honsin Apparel Sdn Bhd and Hi-Q Media (M) Sdn Bhd — by acquiring more than 33% of the group’s stake without making an MGO under the CMSA.

However, Prolexus, which holds a 10.01% stake in SMI through Honsin and Hi-Q, denied the allegations.

When MGO due to trigger by 33% threshold and VGO when holding more than 50% is totally different rule and regulation.

For VGO the offeror can just accept whoever shareholders agree to sell their share to the offeror.

For 33% MGO trigger by 33% threshold the offer only consider success if the acceptance will push the offeror shareholding to more than 50%. Anything below 50% is considered as offer fail.

Once trigger an MGO the BOD will appointed an indepandent valuer to value the offer is reasonable/not reasonable and fair/unfair based solely on offer price and valuation price (sum of parts or discount cah flow and etc)

I am sure the valuer will give a value of more than RM 3.50+ and conclude the offer is not reasonable and unfair and advise shareholders to reject the offer.

If MGO not accepted or fail the offerer is ban from trigger another MGO for 1 year period.

Or in other word the offeror will be a sitting duck within this 1 year period to hostile takeover.

CapitalA pay now and flight later is all about using the future earning/revenue to pay for current working capital.

Without it CapitalA has no money to fly the planes and pay current creditors.

Structured finance

The Group’s lending arm, Insas Credit & Leasing Sdn. Bhd. (“ICL”) is licensed under the Moneylenders Act 1951. ICL has established itself as a boutique structured finance provider to selected sophisticated investors and corporations seeking short and medium terms financing for working capital and investment purposes.

As of 30 June 2022, ICL has a collaterised loan portfolio of over RM300 million generating recurring interest income to the Group.

ICL has stringent operating and compliance policies and processes in place in evaluating the credit profile of the borrowers, the project viability, the collateral offered and sources of repayments and ICL conducts ongoing monitoring procedures to assess and ensure the loan positions are well maintained, adequately secured and comply with the necessary covenants.

RPS is with interest of 3.8% pay biannually.
Number of RPS issued : 132,604,152
Class of shares : RPS
Maturity date : 28 February 2026

Insas Dividend is up to the BOD, last year was 2.5 cents and next year I will ask for more/better dividend

You tell me what is the working capital for M&A Securities (stock broking and financial advisor, underwriter) and Insas credit and leasing moneylender?

Trade receivables: RM 476,931,000

As at 31/12/22
Insas current assets RM 1,783,443,000
Consist of:
Property development: RM 11,256,000
Inventories: RM 12,425,000
Trade receivables: RM 476,931,000
Amt due from assocoate companies ; RM 68,806,000
Amt due from JV: RM 647,000
Other receivables, deposits and prepayment : RM 51,947,000
FINANCIAL ASSETS AT FAIR VALUE THOUGHT PROFIT OR LOSS: RM 216,578,000
Tax recoverable: RM 7,016,000
Deposits with licensed banks and financial institutions: RM 757,724,000
Cash and bank balances: RM 180,113,000

So please make you own conclusion whether the RPS is actually needed/not needed if the company has enough funds to continue operation or to acquire additional assets?

KUALA LUMPUR (April 10): The Securities Commission Malaysia (SC) said it is looking into a complaint filed by South Malaysia Industries Bhd (SMI), in which the group accused that some parties acting in concert violated the Capital Markets and Services Act 2007 (CMSA) in accumulating shares without making a mandatory general offer (MGO).

“The SC has received a complaint from SMI, and we are currently looking into the matter,” the regulator told The Edge. 

Last Tuesday (April 4), SMI announced that over 20 parties, comprising companies and individuals, were acting in concert with Prolexus Bhd's units — Honsin Apparel Sdn Bhd and Hi-Q Media (M) Sdn Bhd — by acquiring more than 33% of the group’s stake without making an MGO under the CMSA.

However, Prolexus, which holds a 10.01% stake in SMI through Honsin and Hi-Q, denied the allegations

Insas are not allowed to buy back their share SBB for it will result in Dato Sri Thong and PAC trigger the 33% MGO threshold.

The Capital Markets and Services Act 2007 (CMSA) any person together with PAC acquiring more than 33% of the group’s stake is required by CMSA rule and regulation to offer an MGO.

If only leno has sold Insas-WC on Aug - Nov 2021 at price above 40 cents+, leno will be richer than many of us here.

StartOfTheBull
Why Insas still want to raise rights issue over the years to pay debt?
When question he can't give the answer he just ignored


Do you what me yo repost how many times then only will you understand I already give you my answer/explanation?

REPOST
Stock: [INSAS]: INSAS BHD
Apr 9, 2023 10:14 AM | Report Abuse 

I think I do explain before.
Leno explanation is the free WC to reward the shareholder.
My explanation since Dato Sri Thong and PAC only hold 32.96% hence to prevent hostile raider Dato Sri Thong and PAC use the WC as defensive tool

Someone say I become a kon in 2020 just because I said PA is a con stock and someone is using his Pasar Malam TA reader to teach TA lesson in PA forum as a cover to con people.

My mistake. Actually TA is a good tool to read stock sentiment or momentum

Posted by CharlesT > Apr 11, 2023 10:23 AM | Report Abuse 
https://klse.i3investor.com/web/blog/detail/koonyewyinblog/2015-12-30-...
My reasons for buying Xingquan are as follows:
5. I believe the audited accounts because one of the founders of S J Grant Thornton is my cousin.

Mike any more thing to say or can you understand plain english?

https://klse.i3investor.com/blogs/Sslee_blog/2018-10-27-story-h1455373857-Market_sell_down_reaction_Everybody_needs_a_little_praise_The_Benefits_.jsp

Windy1974,
I bought a BMW 530e for my wife and recently booked a Mazda CX30 for my daughter.

CapitalA quantitative is so bad but if you believe in Stony then go ahead with your bet, no one can stop you.

QUANTITATIVE
Financial data/ratio contain in current and past financial report.

Someone twisting CharlesT word and said CharlesT say Xingquan auditor is my cousin but untill now still cannot show me what did actually CharlesT said.

Just for the record I am being sarcastic with Mike PA what a primative method or how much PA can increase production by increase labor cost without Capex?

While I am busy with Capex for Plant expansion and automation to increse productivity by leaps and bounds.

Good morning Windy1974,
I make my million not from stock market (not yet but will be) but from my career advancement: Starting as part-time general worker, survey assistant, saleman and tutor. After graduation my first career job was production executive with salarly of RM 1,000 then as production engineer, shift manager, engineering manager, businese development manager and finally general manager to start an oleochemical plant in Indonesia. Today the site is an oleo-chemical complex with yearly revenue of over USD billion.

Warren Buffett is right in saying, “The first rule of an investment is don’t lose [money]. And the second rule of an investment is don’t forget the first rule. And that’s all the rules there are.”

Once you know how not to lose money then you are ready for next step TA with business sense:

Technical Analysis (TA)
Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activities, such as price movement trade volume and focus on patterns of price movements, trading signals and various other analytical charting tools to evaluate a security's strength or weakness. Thus TA pattern is influence by Greed & Fear (Behavior pattern) and will be most effective if use together with FA Qualitative study of Economic condition and Industry condition that create greed and fear where people will panic buy or panic sell as no one will look at FA quantitative financial data

Fundamental analysis (FA)
Fundamental analysts study anything that can affect the stock's value, including macroeconomic factors (e.g. economy and industry conditions) and microeconomic factors (e.g. financial conditions and company management). The end goal of fundamental analysis is to produce a quantitative value (Intrinsic Value) that an investor can compare with a stock's current market price, thus indicating whether the stock is undervalued or overvalued. Fundamental analysis is a method of evaluating a stock in an attempt to assess its intrinsic value.

In summary Fundamental Analysis cover:

QUANTITATIVE
Financial data/ratio contain in current and past financial report.

QUALITIVE
Economy condition (Current and future)
Industry condition (Current and future)
Company management (Current and future)
Profit growth prospect (Current and future)

In short what many people term as Business Sense (BS) is actually the qualitative part of Fundamental Analysis. BS is subset of FA.

A real person teach you how to think with reasoning, logic and put forward your opinion with facts and figures.

A fake person can't even understand sarcasm, figuratively speaking, literally speaking nor just plain english will behave badly as I know all internet troll and have nothing positive to contribute except insults.

You can read the below why Q4 end 31/12/2022 make a net profit of RM 172.4 million?
And cumulative for Financial end YTD 31/12/2022 a net loss of RM 3,169.1 million.

The Group reported a positive EBITDA of RM488.6 million in 4Q2022 as compared to a negative EBITDA of RM350.2 million in 4Q2021, following the reversal of impairment on ROU of RM160.8 million that was related to operating aircraft, impairment on investment securities and receivables of RM53.3 million and improvement in the overall performance of the aviation segment.

The Group reported a net profit of RM172.4 million in 4Q2022 as compared to a net loss of RM914.7 million in 4Q2021. The current quarter recorded a share of profit of RM166.5 million from associates and foreign exchange gain of RM207.8 million due to the appreciation of local currencies against the USD during the quarter.

For YTD Dec 2022, the Group reported a net loss of RM3,169.1 million, 19% lower compared to the loss of RM3,720.8 million in YTD Dec 2021, mainly due to overall improvement of the businesses, partially offset by the share of losses from associates and foreign exchange losses. The Group was affected by foreign exchange losses of RM554.3 million, due to the depreciation of local currencies against the USD during the year.

Posted by ocbc > Apr 10, 2023 11:27 AM | Report Abuse
@SSlee , what is your view on Bursa rejects BJLand extension move ?

Previously I wrote to Bursa complaining bitterly that for far too long TSVT was indulging in excessive corporate abuse inter-companies/friendly parties transactions that benefit him and his friendly parties at the expanse of minority shareholder.

Should Bursa set a limit on the number of repeat extensions?

For transparency and good corporate governance should Bursa insist applicants provide what are options/difficulties under consideration to comply with the public shareholder spread before granting any extension?

Every RI with free warrant like Yinson/Jaks and any other stocks has done or Insas RI of Insas-PB with free Insas-WC is value diluting.

So I am prepare to hold till Insas-WB expired on 28/02/2026 to see what Dato Sri Thong next move.

Humanity already lose to ChatGPT when what your opponents can throw at you is insult and name calling rather then forward their opinion/rebuttal with facts/figures and reasoning.

Very soon AI will take over human jobs as AI can think with facts/figures, reasoning and logic.

TheContrarian is laughing all the way to the bank by trading Insas share many times.

By the way those shareholders who subscribed to RI and later sold the free Insas-WC at 50 cents and Insas at RM 1.20 should have laugh all the way to the bank.

But unfortunately leno sold Insas and all in Insas- WC but did not sold Insas-WC at 50 cents, what a waste opportunity.

To each his own.
I am not gooing to stoop so low to throw insult at each other.

Leno all in WC and now missing in action

I think I do explain before.
Leno explanation is the free WC to reward the shareholder.
My explanation since Dato Sri Thong and PAC only hold 32.96% hence to prevent hostile raider Dato Sri Thong and PAC use the WC as defensive tool

Insas past 10 year record:
RM'000
NP to SH: 215,055: 245,706: 14,849: 81,855: 90,517: 180,888: 77,376: 91,129: 160,404: 62,041
Net Worth: 2,194,599: 1,982,432: 1,750,354: 1,737,078: 1,650,887: 1,551,436: 1,352,726: 1,267,337: 1,198,048: 1,046,187

As at 31/12/2022.
Non current assets: RM 918,930,000
Current assets: RM 1,842,474,000
Non current liabilities: RM 170,155,000
Current liabilities: RM 345,778,000
Total equity: RM 2,245,471,000
Of which retain earning: RM 1,344,348,000
NAPS: RM 3.39.

Can a badly managed company do the above?

And not only that, if you look at my holding, you will notice that after receiving the free Insas-WC, I bought more Insas-WC and later sold all my Insas-WC and Insas-PB. I put my money where my mouth was and support it to buy more Insas until I am in the top 30 shareholders list.

Since insas is my 50% holding and Pchem is Philip 38% holding.
1 year bet insas RM 0.775 vs Pchem RM 7.50

The race is on Insas break RM 1.03 or Pchem break RM 10 in 1 year time.

And yes Philip is right he did not promote Serbadk in Serbadk forum and he do update his buy and sell in his online portfolio. My mistake.

Insas only hold 13.7% of Ho Hup so it did not matter to Insas if Ho Hup go bankrupt.

Since insas is my 50% holding and Pchem is Philip 38% holding.
1 year bet insas RM 0.775 vs Pchem RM 7.50

deMusangking insas 0.775
ybs 0.655
lets monitor the 2 movements

If I am not mistaken Philip lose his two year bet QL against stockraider Insas.

So I am confident Insas will be able to break RM 1.00 again and someday reach my TP of RM 1.50.

By the way if the company business involved commodities then you need to monitor commodities price.
https://tradingeconomics.com/commodities

Posted by xskyriver > Apr 8, 2023 8:37 PM | Report Abuse
Previously I created a MYR 100k portfolio on March 14, based on "Fundamental Trader" recommended stock for each different segment(Can refer to my portfolio). After that, do exactly "NOTHING".

After about one year plus, (14 March 2022 to 8 April 2023), the portfolio now MYR105k and with Cash 3.5k (received from dividend, without reinvest).
So 100k a year ago, now around 108.5k.
Is it consider good or bad?

Answer:
Warren Buffett once said, “The first rule of an investment is don’t lose [money]. And the second rule of an investment is don’t forget the first rule. And that’s all the rules there are.”

But if you want to take risk then PureBULL method:
I prefer to spend time staring at stock charts in all periodicity for co-relationship n to identify a pt that will repeat to making money in stocks.,.
NB:
Strategically to be at pure right timing pt =
we go up n await at Awana to choose n catch any most mighty cars/stocks we see them face to face.,.

The list was given on March 2022 so it is no more valid as of today but the 5 steps selection should be still very useful.

1. Debt to Equity Ratio < 0.5

2. Current Ratio > 1.5

3. ROE > 10 (Buffet prefers higher, i use lower here since Bursa's ROE is not as high as US)

4. QoQ and YoY growth, they must make consistant and continuous profits in the last 4 quarters.

5. Getting the Free Cash Flow is very important steps to ensure profitability.

For all the young investors the below blog by fundamental trading should be very useful.

Note: The below blog already deleted by fundamental trading

https://klse.i3investor.com/blogs/fundamental_trading/2022-03-12-story...

Guess what Stocks I found using improvised Warren Buffet Stock Selection Criteria?
Author: Fundamental Trader | Publish date: Sat, 12 Mar 2022, 9:04 AM

I spare you all the technicals which you can search yourself and jump straight down to the methodology of how I found my gems.

First, narrow down a total of 1025 stocks in Bursa using Warren Buffet's simple rules:

1. Debt to Equity Ratio < 0.5

2. Current Ratio > 1.5

3. ROE > 10 (Buffet prefers higher, i use lower here since Bursa's ROE is not as high as US)

You then left with only 103 stocks.

Then, proceed to make sure stocks with only QoQ and YoY growth, they must make consistant and continuous profits in the last 4 quarters.

Next, very important to filter out all stocks that does not generate Free Cash Flow (FCF) or very little FCF, I use Price to FCF Ratio < 20 here to improvise, cause Cash Flow is the blood of business.

Fundamental Trader ok, seeing a value seeker is showing, let me first share with u the 38 stocks (after the 4 steps):

BPPLAS, CEPAT, CHINTEK, D&O, DLADY, EITA, ELSOFT, ESCERAM, FM, FRONTKN, HARBOUR, HIBISCS, HONGSENG, HSPLANT, IDEAL, INARI, INNO, JFTECH, KGB, KMLOONG, KOBAY, KRETAM, LUXCHEM, MHC, MPI, MYEG, PCHEM, QES, REDTONE, RGTECH, SAB, SCICOM, SOP, TGUAN, TIMECOM, TONGHER, UTDPLT, VITROX

Please take note that 5th step of getting the Free Cash Flow is very important steps to ensure profitability.

In the past I would have diversified widely, but if u know what u are doing, u don't need to diversify too much (e.g. like >7 stocks), otherwise it's better just to buy index fund.

So, when can we reach 20 comments? well, u can first start checking on with the 38 i have shared above to see if it's inline with your investment objective.
13/03/2022 11:56 AM

Why I invested in Serba Dinamik, Kpowers and SCIB
Author: Philip ( buy what you understand) | Publish date: Wed, 2 Sep 2020, 5:21 PM

Why I bought even more SERBADK bonds and stocks
Author: Philip ( buy what you understand) | Publish date: Tue, 15 Jun 2021, 5:56 AM

By the way did Philip make an apology in Serbadk forum when he know he is wrong and cut loss quietly?

Me, I apology profoundly without reserve when I am wrong in HRC forum and published my cut loss price and my email questions to HRC management. I intend to be there during next HRC AGM to confront the HRC BOD and Management.

This is the different between my civic duty and yours.

Philip ( buy what you understand) Very sad indeed. Rather than explain further on insas in an insas forum, why are you bringing in other stocks like pchem and harta and hrc and petronm in a insas forum. Like you are always feeling it is your civic duty to tell people to buy hrc or to sell capitalA, I feel it is my civic duty to point out what a "value trap" insas is so young investors who just started reading a book on value investing, use a few screeners and thin they know everything they need to know about investing and start buying "bargains" like insas thinking that it will go up. 7 years later they become sslee.

Let's help new young investors not lose their shirts in these type of badly managed companies.
08/04/2023 3:30 PM

If anyone interest to do a corporate raid on Insas, I can be a middle man to connect you to Insas CEO Dato' Wong.

chankyew50 Bursa is not an efficient market. One can find many other stocks like Insas such as Mulpha, Keck Seng, Allianz Malaysia, Kluang Rubber ....... just to name a few. Sigh!!!!!!
04/04/2023 4:48 PM

Many of these so called value trap the owner owned more than 50% only in Insas Dato Sri Thong and PAC owned 32.96% so like Philip wrote:

Philip ( buy what you understand) Still "severely" undervalued if related to NTA.
If we "unlock" insas and borrow 1 billion to buy out all outstanding shares of insas we can "earn" 2 billion to pay off all debt outstanding to bank and earn a cool billion for the effort.

Could the world be so blind not to realise this obvious arbitrage?