Wiseman169 | Joined since 2021-07-13

Investing Experience -
Risk Profile -





Blog Posts









Total comments
Past 30 days
Past 7 days

User Comments

2023-09-25 10:01 | Report Abuse

Here’s one article I found about Lagenda


2021-11-01 08:42 | Report Abuse

PARLO Berhad – The Dark Horse In The Making? Share Price Has Outperformed GENETEC?

GENETEC is undoubtedly the hottest stock and the shiniest star in BURSA this year with a whopping Year-To-Date gain of more than 2500%. However, did you know that the share price of PARLO has outperformed GENETEC recently?

At the same time, I found that the volume of PARLO has increased a lot since the founding of the subsidiary, V Care Industry Sdn Bhd (V Care). The volume spiked from below 500k in July 2021 to the highest volume of 55.78 mil on 7 Sep 2021.

The Beginning of A New Era?

On 29th Oct, the Independent and Non-Executive Chairman of PARLO, Mr. Chan Wing Kwong resigned and Yan Foong Sdn Bhd (The vehicle controlled by the major shareholder – Yap Fu Fah) sold their shares to the new shareholder, ARIV Capital Sdn Bhd (ARIV). Based on the chronology events, it is an educated guess to link up the new owner and the new business venture of PARLO.

If not, what would be the rationale for ARIV to pay a 30.9% premium (36 sen per share) to the market price for 27.75mil shares then?

There is an old saying: "There’s no smoke without fire." So, are there any structural changes in PARLO’s fundamentals? Is share price backed by fundamentals or just another story?

The founding of V Care Industries (Malaysia) Sdn Bhd (V Care), a 51% subsidiary of PARLO, could be the game changer for the Group. Based on my channel check, V Care is a distributor of various medical related products that have strong connections with the local retail convenient stores and hypermarkets such as 99 Speed Mart, KK Super mart, Mydin, and others.

So, what is so special about V Care?
Prior to the establishment of V Care, the two directors (Chan Kok Seong and Chan Yee Kuan) have been in the business of distributing the Covid-19 Antigen Rapid Test Kit (RTK) via a partnership with the related party to the market. Out of the total 9 million RTK sold for the past 3 months in Malaysia, they contributed 5 million (55.5% of the market share).

According to my source, V Care will get their own establishment license to distribute the RTK very soon with the help from PARLO. And they are set to become of on the main players in the local market.

The demand for RTK is expected to pick up further due to the reopening of the economy and school, interstate travelling, opening of the international borders, etc. People will tend to test themselves after gathering, going to crowded spaces, or before going back to their hometown to make sure that they are free from the virus.

Based on their internal projection, V Care is expected to sell 3-5mil RTK per month. Let’s assume that V Care makes RM1 net profit from each RTK, the expected contribution from V Care to Parlo’s net profit will range from RM4.59mil to RM7.65mil per quarter (based on 51% shareholding).

At 27sen, PARLO is only trading at a forward PE of 3.85-6.42 times only! (RM0.27 / (RM0.042 | RM0.07)

PARLO’s tourism and the migrant worker businesses are expected to contribute positively to the top and bottom line of the Group once the international borders are open in the near future. In addition, being one of the top travel management companies in Malaysia prior to the outbreak of Covid-19, the Group is expected to benefit from the RM1.3bil allocation in Budget 2022 that will be used to support the post-pandemic recovery of the sector.

All in all, from the changing of major shareholder to the new venture in the medical related businesses, it seems that the new management is determined to turnaround the ailing company. PARLO is trading at an extremely cheap valuation now if the new business venture turns out to be a successful one.


2021-07-14 02:04 | Report Abuse

NAIM (5073) - The perfect play as the beneficiary of the coming Sarawak state election?! Strong fundamentals with a 10% dividend yield and RM2.61 NTA!

Political-linked Catalyst
As we all know, the Sarawak election should have happened months ago. The Darurat was the reason why there is still no election held. Our minister KJ has said multiple times that Sarawak is given priority for Covid-19 vaccination.

State election is a war without smoke. And war needs money. The best way to get is via the capital market. Datuk Abdul Hamed Sepawi is a substantial shareholder in Naim who holds 6.5% of the stake in Naim. Datuk Abdul Hamed Sepawi is the cousin of former Sarawak chief minister Tun Abdul Taib Mahmud. Therefore, this undervalued political-linked counter is probably the best candidate to achieve the goal.

Valuation Catalyst
Let us keep everything simple, all you need to know is the stake Naim holds in Dayang worth RM369.88 million as of now, and currently, Naim is holding RM342.09 million of cash. These 2 add together worth RM711.97 million and the current market cap of Naim as of now is RM398 million. A potential 78.88% of upside assuming its original business worth ZERO!

Naim just declared a dividend of RM0.08 per share. This translates into a WHOPPING yield of 10% based on market price of RM0.79 per share!!!

Some Financial Ratio
P/E: 6.74
ROE: 4.41%
Dividend Yield: 10.19%
P/B: 0.30 (NTA RM2.61 per share)
5y CAGR PAT: 9.9

Business Catalyst 1: Naim could play a more prominent role at Dayang
Naim holds 26.42% in Dayang Enterprise holding berhad. According to The Edge, Naim Holdings Berhad could start playing a more prominent role in the oil and gas firm. This is a double engine growth for Naim as this will benefit Naim’s Oil and Gas infrastructure business and Dayang business. Moreover, the recent spike in Brent oil price will also benefit Naim as well. If Naim could hold more stake in Dayang, we could see a strong recovery in earnings from Naim.

Bear in mind that Dayang has a market cap of around RM1.6 billion, Naim holding 26.42% of Dayang’s stake, this could translate into RM369.88 million. The current market cap of Naim is just RM398 million as of 12 July 2021.

News Source: https://www.theedgemarkets.com/article/NAIM-could-play-more-prominent-role-dayang

Business Catalyst 2: Naim Holdings Berhad aiming to build 500 affordable homes in 2 years.
The estimated gross development value (GDV) of RM185mil, these residential homes would be constructed in Kuching, Miri, and Bintulu where most of the Naim group’s land bank of about 1,560 acres are located. The group intends to kickstart part of the proposed development in the fourth quarter of 2021. You can refer to Lagenda Properties who are doing the same affordable home.
News source: https://www.thestar.com.my/business/business-news/2020/10/12/NAIM-holdings-to-build-500-units-of-affordable-homes-in-2-years

Technical Analysis

Today the price gapped up and broke the resistance of RM0.775, forming a breakaway gap supported by volume. Although the price closed lower today (probably due to the weak sentiment of the market), it is still on the support line. If the price maintains at this level, we might see the price rally to challenge previous resistance of RM0.92 before breaking the previous high. Moreover, the price is trading above 10-day EMA, 20-day EMA and 50-day EMA, which indicates a short to midterm uptrend. The supports of Naim are RM0.72 and RM0.775, respectively. The resistances of it are RM0.82 and RM0.92, respectively.