When Immigration cancelled the SKINS contract in 2019, share price of Prestariang (now known as Awantec) fell to around 0.10 sen. Thereafter the price had a steady recovery. In November 2020, Prestariang allocated Rights at 0.20 sen per unit with free warrants. By December 2020, you could sell those warrants attached above 0.70 sen. Likewise, you could sell the mother stock at above Rm1.20 in March 2021. Why did the price dropped like a rock and then had an astronomical high? Market manipulators at work, I believe. These unscrupulous market manipulators saw an opportunity to profit because they had the money to manipulate the market. There is no logic behind such gyrations of share price. Surely Awantec cannot be so badly managed until it is worthless. Awantec was a victim of politicians who punished the company just to get back at their political opponents. Events now unfolding with one party fleeing the country after SKINS cancellation and the awarding of a new immigration contract (now also cancelled) shows what can happen when there is a change of government. I will not sell my Awantec shares at such low prices to unscrupulous market manipulators. Just ask yourself, should the price be so low after winning a court case. Yes, opportunity cost and holding cost for Awantec may not have been factored in by judge during judgement but the award given is no chicken feed either. Awantec can now move forward, they have the cash to venture into other lucrative areas. But never allow market manipulators to cloud your judgement. Hold on to Awantec shares until better times.

On one hand, the court keep on postponing decision on damage award, has been dragging for years. Then you get Bursa applying the hangman's noose on the company. These are reasons why people just give up investing in KLSE. And you get Serba Directors escaping jail sentences. Very disappointing.

Couldn't agree with you more LLC, the current people managing MBSB are a bunch of losers. I am hoping the new Group CEO from CIMB can kick some backsides of the senior management team and make them realise "having a civil service mentality will mean stagnation and eventual demise". I am sure after the CIMB guy comes in, he will bring in some quality people to help him push MBSB to the next level. The current MBSB senior team is definitely mediocre. Not only retail shareholders lost money but EPF also lost big money putting up with this underperforming MBSB team. The only saving grace was the annual dividends could cover our holding costs of holding on to the stocks until it sees better days.

Kstraders, if the percentage of holdings is too high, the stock is illiquid. Some investors will not want to hold such stocks because when it is time to sell, too few interested buyers and the price might not escalate much. There is an element of gambling when we pick stocks and no one wants to hold stocks that cannot gain in value but instead goes down 50% in six years. Of course with EPF as the majority controlling stake, MBSB will not go bust. There was a time in the 80s when shares of MBSB was priced above Rm4.00. We can only hope that MBSB is a growth stock and we will be rewarded in due course. Keep our fingers crossed.

Apart from concerns about MBSB's financial performance, I have to conceed EPF's total holdings currently is a big drawback too. EPF after merger will hold 58% of MBSB Group, I hope EPF can dilute their total holdings to allow a bigger float in the market. Let us hope EPF can sell some of their holdings at the right price. No need to hold 58% interest to be the controlling stakeholder. Let more participants have stakes in MBSB.

Looking at MBSB share price, it looks the response from the market is lukewarm only. The incoming MBSB Group Ceo (Ex CIMB Senior Guy) has a lot in his plate to create value for the enlarged group. Good luck to him. Meanwhile, I will just wait patiently and see what rabbit he can pull out from his magic hat when he comes aboard.

Alenac, all the data's provided by you amounts to nothing if the share price of MBSB remains depress. Anyone who holds this counter for more than 6 years are still underwater in their investment especially EPF. And why is it everytime MBSB goes on acquisition, it takes more than 18 months to finalise the deal. The deal with AFB a few years back was supposed to enhanced MBSB because it came with an Islamic Banking licence but instead MBSB share price continued dropping further. This MIDF deal is probably the last chance for this MBSB senior management board to prove they deserve to continue in senior management. Alenac, you sound like an insider of MBSB talking, I hope you can convey the disappointment of many shareholders to the BOD of MBSB. TQ.

Crazy to sell without knowing the actual terms of the merger plus the NAV of the merged entities. At least wait for official announcements of the merger terms. Remember MBSB before merger was like a kampong financial mini market. Now with merger with a much more sophisticated MIDF group, MBSB can move up the ladder as an urban financial supermarket with a full range of financial products. Only time will tell whether MBSB will use this "golden" opportunity to play a bigger role in competition with the big boys. Too early to sell.

Guys, a little bit of facts for all of us to ponder now that MBSB has made the announcement that their merger with MIDF will proceed. The EPF controls 65.872%, then comes shareholders having shares ranging from 100,001 to 358,574,189 shares which makes up 24.678%. A third big group of shareholders having shares ranging from above 10,000 to 100,000 shares owns 107,066,652 shares or 7.892%. You can see the above 3 groups own 98.441% of MBSB shares. My advice is do not sell your shares cheaply to market manipulators who might influence the price of MBSB in the coming weeks. The free float of MBSB shares is so little in the open, I am sure EPF and the top 30 shareholders will hold on tight to their shares, we should have the holding power too. The Nett Asset Value currently is more than its current market price. Stay long to benefit from this merger. I think the folks from MIDF can bring good quality management skills to a sleepy MBSB Team.

Should I be happy with this dividend? Obviously if I had bought it this year, then the payout is fantastic but because I am holding it for 7 years and still losing a fair bit of initial capital outlay, I am not celebrating. If only there is an uptrend in the share price to above Rm1.00 then I can heave a sign of relieve. Even now, with this good dividend payout, why is it the share price never went up like a rocket. At 13% dividend yield, why is the price still below 0.66 sen? The price should be much much higher. Maybe smarter people can let us know the reason. I do not want to say much more.

Is there a time bomb in MBSB that we are not aware of? Why is MBSB not attracting major investors that can help appreciate its stock price? Why the silence on the merger with MIDF? Shareholders have been very patient with the Directors of MBSB for many years, how long more can our patience be held back?

Loy Loy Cheong, you are absolutely right in your arguments. The fault lies with the EPF, their entire 68% in MBSB got devalued by 50% and they are not alarmed by the root cause. The root cause is an incompetent foolish management team in MBSB. If this happens in America, activists investors will pressure the CEO and his team to leave or they will try to take over and perhaps asset strip the company and return the money to investors. What is the use of running a bank with Rm58 billion capital if they have donkeys running it. They bought over Asian Finance Bank years ago to become a full fledge Islamic Bank but price of shares still deteriorated to 50 odd sen. I don't know why EPF seems to do nothing about the donkeys running this bank. As a shareholder, I am very frustrated.

Perhaps EPF after this merger with MIDF should dispose off a big potion of its holdings in MBSB to other banking parties so that MBSB can move in a different direction. This current Board cannot bring value to MBSB. Let there be fresh blood with a different approach. This is my hope.

Loy Loy Cheong, we can only pray that good sense will prevail and EPF realise this bunch of Top Level Managers in MBSB (including the Directors) will lead MBSB nowhere. EPF is also losing 50% of their money in MBSB since 2017. Perhaps EPF can bring in some good people from CIMB, RHB and Public Bank to manage MBSB. After all EPF is a substantial shareholder in these aforementioned banks.

Loy Loy Cheong, I fully agree with you on this. Yes, MBSB's current share price is only 50% of what it was 5 years ago. Shareholders (large and small) should be very disappointed with the performance of MBSB. Yes, EPF's huge stake plus its top 10 shareholders makes it a very illiquid stock. Maybe its warrant stocks is also a big factor, the warrant issuers might be a big culprit in suppressing the stock price too. I just do not know how long more before MBSB is valued higher. MBSB never seems to be in the radar of big fund managers despite it becoming a fully fledged Islamic Bank. If the merger with MIDF goes through and the price still remains in the doldrums, then it will be a disaster for us shareholders. I consider it just bad luck to hold a stock with so much potentials but market forces just will not allow the stock price to appreciate.

Investors of Heng Yuan, notice the elaborated arguments put up by two opposing sides. They operate like two opposing sides in a court trial. Obviously both sides try to convince you their research arguments are the ones you should trust. I suspect both sides represents either opposing syndicates or opposing Investment Bankers. For them, if they can influence the market to go their planned way, they make millions in profits from someone else's misery. So take both arguments put up by both sides with a pinch of salt and do not bet your whole house on Heng Yuan. Just a humble opinion from an old timer.

This is a cornered stock controlled by unscrupulous syndicates. Stay away from Hengyuan is the best solution. If you are not greedy to make obscene gains, there are alternative high quality stocks around this price elsewhere. Do not allow storytellers with fairy tales to fleece you out of your hard earned money here. I can admit I am not losing any hard earned money here because I bought during March till May 2020 period. Sold off most of it already, balance is pure profits. I can wait to see what market manipulators want to do. But I just want to caution innocent uncles and aunties who get slaughtered all the time by market manipulators.

For the last 5 years, I chose to take cash dividends rather than DRP. MBSB share price for the last 5 years always fall below it's DRP price. Go check through all past DRP share price. I find it tiring to emphasize that this MBSB CEO and his team cannot enhance MBSB share price at all. EPF can help MBSB by hiring a new CEO and change its business plan. No big funds excited with MBSB, so how to enhance share price?

As shareholders of MBSB, I suggest everyday more and more MBSB shareholders through i3investor press for the CEO and his team to be replaced. EPF must by now realise, this CEO cannot lead MBSB to greater heights. He is a disaster actually. If it was any other banks or big companies, he would have been replaced long time ago. EPF, please wake up.

Allyusof, we both think alike actually. I had good memories of investing in MBSB in the eighties where its share price was mostly above Rm4.00. Even in the first Gulf War, MBSB's share price was very good. Thus allowing me to sell it and buy stocks that had tanked badly in the Gulf War. This time, no chance to sell MBSB. I guess I will hold it forever if this CEO and his team is still in charge. EPF is also a substantial shareholder of CIMB and RHB, perhaps EPF should pick a team from either of these 2 Banks to help revive the fortunes of MBSB. After all, EPF holds more than 60% of MBSB and EPF is losing huge value in MBSB right now.

Allyusof, you did the right thing. I have made from other counters the last 4 years to cover for my MBSB paper losses. So many counters were dirt cheap after March 2020 and I did buy some. Profits mostly above 30% to 60%. My major disappointment is MBSB cannot move upwards at all. Some say it is OK because MBSB pays dividends above FD rates. That is a wrong way to look at it. There is an opportunity cost involved and for the risk we take in buying stocks, the returns in the long run should be at least twice the rate of FD. I blame the MBSB CEO and his team for this lackluster share price. The EPF should change the CEO and his team. Otherwise, MBSB will remain as a penny stock. Even Chua MA Yu sold off his strategic holdings in MBSB, he gave up hope long time ago.

At the way things are going, we will be lucky if price don't drop any further. Maybe for another 4 years, the price will be stuck around 0.60 sen. What a rotten bank stock. Regretted buying it and accumulating more for the last 4 years.

Yes, I agree with you Samchan. Sack the CEO including his whole team. Useless CEO. Leading MBSB to ruins. Nobody can be happy with this CEO.

Nkk1370, this MBSB CEO has been with the bank for a very long time. Maybe easily more than 8 years. He presided over MBSB as a Finance Society company priced above Rm3.00 to what it is priced now as a bank at 0.68 sen. Who can be happy with such a CEO.

Agree with you Ratz 100%. All GLC companies CEOs and their teams cannot survive in the real corporate world. They are handed things on a silver platter with no real pressures. I am sure if MBSB is a bank that resembles Public Bank, the shareholders will lynch the whole team of CEO and the senior management and demand that they resign. I hope others in this forum realise that some of us are here not to bad mouth the CEO and his team but we want MBSB to buck up and deliver value to its shareholders. Nobody should feel hurt.

Yippy68, shareholders like us can see the potentials of MBSB if it is managed by the Right Team. To own more as time goes by is either to average down a stock that has good growth potentials or to collect dividends that is around FD rates. Not wrong with that strategy. I use it too. But when stock price of a growth stock is stuck and cannot go up at least 10% per annum, we are losing. The take over of Asian Finance Bank licence does not seem to pay dividends. Just my humble opinion. Get rid of the CEO and his team.

Yes Bulat, the whole senior management team including the CEO is sluggish with no drive. if EPF is pro-active in MBSB, they must get rid of at least the CEO and his team. Very useless people. While every counter in KLSE has recovered to a certain extent, MBSB is still sleeping. I hope someone from the EPF read my comments and get rid of the CEO and his team.

This counter has easily dropped 45% in price since 2017 till now. I can see one or two commentators who are from that 2017 period. I wonder how come you guys don't seem to care about the 45% drop in MBSB share price. Even if you had collected shares instead of dividends payout, you are facing a big deficit. Don't you guys have any opinions with MBSB becoming a full fledge bank and yet its share price is stuck at the 60 odd sen level for donkey years. Something very wrong with this counter.

Remove the present CEO and his senior management team. This bank is going nowhere because whatever that is implemented by this CEO and his team is not increasing the value of MBSB. how long more must shareholders suffer. Since March last year, many counters have recovered and reached new highs but this useless MBSB counter is stuck in quicksand. Ask yourself why? Because the management team cannot deliver progress to MBSB. I am getting fed-up.

The EPF should consider removing the current CEO and his team of senior management people. He and his team has been given ample opportunities and time to build a viable bank and yet whatever they implemented has never caught the eyes of influential investors who can give the share price a boost. Even it's shares in exchange for dividends cannot entice us to take it. Only the EPF took that option for years and in the process lost more and more EPF members hard earned subscriptions to the EPF. In my opinion, the CEO and his team of people are out of depth. They cannot bring value to MBSB at all. EPF need to be ruthless and do the right thing. MBSB as an Islamic Bank right now is a joke. I hope members here will pressure the EPF into doing the right thing instead of meaningless write-ups about MBSB that cannot get us out of this mountain of rubbish in MBSB.

MBSB share price has been falling the last 4 years from a high of Rm 1.35 to its present price. In my humble opinion, the MBSB CEO has been given enough time to build up the value of its shares. The CEO has failed dismally. He was managing a finance company that subsequently became an Islamic Bank. MBSB either made a mistake acquiring Asian Finance Bank or the current management is not exploiting its status as an Islamic Bank. High time EPF head hunt for a dynamic new CEO and a new management team. I used to regard CMY highly considering the fact that he and Rashid Hussain built up the brand name RHB Bank. Now I am not too certain what magic CMY can perform at MBSB. My guess is EPF and CMY just like us long term MBSB shareholders all already lost 50% of our capital till now. The CEO and his team must be asked to resign. Enough of time and opportunity cost wasted on this CEO.

Thanks tcs888 for your clarification. Just hold on tight to your MBSB, the potential for MBSB is bright. EPF and Chua Ma Yu together hold more than 72%, market manipulators/operators cannot push it down for long term. Just do not be troubled by daily trades. We may not like these crooked operators, but have to tolerate their share manipulation tricks.

tcs888, you can joke and laugh, it is ok. I can afford to wait even if it takes years for me to enjoy the fruits of my investment. I look at fundamentals when I purchase a stock. Sure, President Trump with his big mouth will cause the world markets some difficult moments but the risk is very low for investors to lose money with MBSB at current price.

Bamforte, we need to factor in MBSB`s new status as an Islamic Bank after 1st April. Right now, all Shariah Compliant Fund Managers cannot purchase MBSB`s shares because it is not shariah compliant, so you can imagine some of these Fund Managers would love to diversify and park some funds in MBSB ( the newest Islam Bank). MBSB has a good track record since the 1960s. A dividend of 5% at current price gives you a real yield of 4.20%. Much better than F.D. Please take note that PNB Chief Tan Sri Wahid last year commented that there are too few Shariah Compliant companies particularly in the Financial sector. You cannot go wrong by holding on to your MBSB shares. Just be patient.

Looks like the daily open quarrels between these warring parties cannot end despite being advised by well meaning people. Other people invest in stocks and come into forums to better understand investment opportunities. And we can see stocks like Hengyuan,Petron, Supermax, Dialog, Airasia etc all rewarding their shareholders because there is a concerted effort by all concerned to push their prices higher and higher. But here at MBSB forum, we get people not making any positive contributions but just quarreling everyday. Sometimes I wonder whether all these open quarreling is real or just Syndicate Members having an agenda playing a game. All I know is you guys lost an opportunity to make good money right now and it might not be conducive in the later months when uncertainties in GE14 may drag our market down, then you guys will regret. Others have already made good profits with their KLSE investments while you guys made nothing so far. Brainless people.

Do not make this forum your platform to fight and quarrel over petty things. We are sick and tired of all this nonsense by all the quarreling parties whoever you are. You guys behaved like spoilt brats on an ego trip. Use the head you are blessed with to come up with constructive thoughts and ideas and not spew contempt on each other. Thank you.

I my humble opinion, the Board of Directors, EPF and Tan Sri CMY should not allow syndicates and operators to control the share price of MBSB. It is very damaging to MBSB and it has gone on for too long. I think nearly 18 months to be precise. Sorry, just my opinion only.

Share rigging by crooks and their remisier is a criminal activity and in the past a few have been charged, fined and also jailed. A classic example was Fountain View Bhd where the MD of the company conspired with his remisier to set up multiple accounts to create false purchases and activities. The Securities Commission should be more pro-active to wipe out scoundrels who are damaging the reputation of the KLSE.

Today out of curiosity, I checked the top 30 shareholders of MBSB till March 2017. The top 2 shareholders, EPF and Chua Ma Yu owns 74,248% of MBSB and the top 30 shareholders of MBSB owns 84.189% of MBSB. From this annual shareholders report, we can conclude the free float shares of MBSB is very limited. So do not despair, what has been going on for the last 12 months is probably sharks and syndicates manipulating the prices. I am also curious how last friday`s MBSB share price ended at Rm 1.11 and on Monday the acquisition of AFB was priced at Rm 1.10. A very nice co-incidence indeed. I would recommend that strong holders should hold on tight to their MBSB shares and enjoy the fruits of the AFB tie-up later next year. In my humble opinion, these 30 top MBSB shareholders controlling 84.189% are quality shareholders and they will not sell at such current low prices. Whoever who is pushing the prices down right now may have an agenda of their own, just don`t sell your shares to these sharks. Have patience my friends.

Do not be influenced by nonsensical "prophets of doom" talk. Many of them actually know nothing about investing based on fundamentals and potential future growth. Let me remind everybody that EPF owns more than 60% of MBSB and Tan Sri Chua Ma Yu also owns a big stake too. Do you read of these 2 substantial stakeholders selling off their MBSB shares even when it was hovering around Rm 1.36? Ask yourselves why they did not sell and you will have the obvious answer. I am sure Tan Sri C.M.Y after investing hundreds of million of either his own money or borrowed money is targeting a handsome return. Please remember there is holding cost and opportunity cost involved here for Tan Sri C.M.Y. Usually, I do not like to comment, but I think there are too many nonsense comments here. I am someone who has been observing and playing the market since 1981, so I know a thing or two about MBSB.

Simple common sense will tell you MBSB and AFB have already completed their negotiations on pricing and what not. Submitting to BN is a formality because BN is the governing body overseeing all commercial banks in Malaysia. BN is more concern on whether the merger will have negative consequences in the financial sectors, if there are none, the merger is a foregone conclusion.

Force, why would you advise people to wait for news of failure before buying MBSB? Sounds very stupid. If the merger does not take place and is officially announced in the newspapers, then the enthusiasm for MBSB will die a natural death, why buy it then. What value is there in MBSB if a merger does not take place? Come on Force, be rational and come up with an educated argument. Otherwise you will only be seen as " a person who only wishes for bad things to happen to others" and that is a medical problem. I have read your ramblings on the MBSB Forum, you need medical help. My advise to people is " never buy a stock just because somebody else owns it. You must know what you are buying and you must like it"

Let me tell you guys a story about MBSB. This counter used to pay good dividends in the eighties. And I held a few lots then. Whether it was Black Monday, Tiananmen riots or the first Gulf War, this counter was always very steady. Actually, I managed to sell MBSB with not much losses during the height of the first Gulf War and diversified my holdings. Without MBSB at that time, maybe I would have lost most of my savings with no chance of a quick recovery. MBSB saved me then. We should buy stocks based on current price and what it can offer you in the near future. MBSB meets the criteria, just buy and hold and you will be rewarded handsomely. A full fledged Islamic license is very valuable. The MD of MBSB has hinted that the merger will surely happen. That is good enough for us to understand. He cannot be more direct than that.

Looks like merger talks between MBSB and AFB continuing smoothly and will culminate with MBSB becoming an Islamic Bank. There are many positives if this happens. With an Islamic banking license, MBSB will have the full range of banking products to compete and offer to the public just like Muamalat Bank, Bank Islam and whatever that is offered by the Islamic arms of commercial banks. I see the share valuation of MBSB going upwards because there are not enough Shariah compliant companies in the KLSE especially in the finance sector. The EPF has implemented a Shariah compliant option for their EPF account holders plus many Islamic Unit Trusts are also hungry to invest in Islamic Shariah compliant companies. If Shariah compliant products are too limited, it can only mean too much money chasing after too few products. More demand and less supply means price will go upwards. I note that MBSB will complete their impairment write down by the end of this year. If the impairment is caused by Non Performing Loans (NPL), MBSB would have taken advantage of the losses as tax breaks. Surely if MBSB becomes more efficient and can collect back any NPL in the near future, it can be a nice windfall for MBSB. I have been collecting MBSB since Tan Sri Chua Ma Yu entered MBSB as a substantial individual investor. From my observations, Chua Ma Yu does not simply put his money into every Tom Dick and Harry counters. He does his homework and he is not looking for chicken feed. His holding costs by now is quiet substantial, I am sure he is aiming for a big windfall himself. We should buy some MBSB and wait for further developments, it looks like a good counter to hold.

Started playing since I was 26 years old. Guess I was there in every occasion, whether it was good or bad. Many times rode it like a rollercoaster. But played based usually on fundamentals. Overall on the plus side. Enough to lead a simple life. Now at 61 years old, I am very conservative. Cannot afford to make big mistakes anymore because I will run out of time to make a recovery. Never trust analysts who work for Investment Banks. There are some good guys in i3investor forum like Kcchongnz who give good advice. Heed the advice of experienced investors and you will make fewer mistakes. Good luck to all of you.

Don`t worry Jetli. I know we both meant well by posting our thoughts in trying alert naive investors who can be taken for a ride. They have to look out for vultures who can set them up for a kill. Have a good day Jetli.

Tq Jetli for your fair comments. I concede not all PN17 companies are a disaster. Yes, a cash rich company with no significant core business can also be classified under PN17. I was airing my thoughts after reading and listening to what the oil and gas industry is undergoing right now. I get my news from newspapers, CNBC and Bloomberg. Right now charter rates for oil and gas assets are pegged to oil prices and obviously there is a mismatch between charter rates and money that is needed to service bank loans to purchase these assets that were ordered or planned when oil was USD 110.00 per barrel and beyond. I hope oil and gas companies will have no more need to write down their asset values. Please take note that Perisai have to take delivery of their preordered oil rigs Pacific 102 and 103 respectively from Sembawang Shipyard. As it is, their MOPU oil rig and pipe laying Enterprise is idling without any sign of new contracts. It is going to be very difficult for Perisai. Some companies will manage to ride through the oil price storm but some will not. Just for the record, currently I do not own any shares in oil and gas companies. Less some readers might think I am a trouble maker, I shall refrain to comment on this counter in the future.

Exercise caution while trading in Perisai. When a company goes into PN17, it means the company`s liabilities are higher than its nett assets. If the bond holders believe that there is a way out, then restructuring of the loan will take place but if after looking into the books of Perisai, the bond holders feel that winding up is the only option, then the company goes into receivership. Just to quote past cases, SJA was liquidated by Hong Leong Nominees many years ago when they gained control of SJA through minority shareholders support. But yet upon taking control of SJA, Hong Leong Nominees just asset stripped and liquidated SJA to recover whatever they could for their masters. Minority shareholders interests was of no concern of theirs. Another case was Lityan/ Theta, Tabung Haji went to the courts to fight against KLSE`s order to delist Lityan/ Theta. Why did Tabung Haji opposed the delisting of Lityan/ Theta? Because they had invested too much money into Lityan/Theta and would have to write off hundreds of millions if Lityan/ Theta was delisted and later goes bankrupt. What Tabung Haji did was appoint new managers for Lityan/Theta and consolidate Lityan`s shares. Something like 30 lots of 1000 units becoming one new lot of 1000 units. And later, Rights issue at RM 1.00 nominal was offered to shareholders. But till today, Lityan/ Theta could not recover from its financial losses and is hovering at around 0.32 sen per unit. I guess the losses suffered by Tabung Haji and other shareholders is beyond recovery. Perisai is staring at either extremes of what I have just explained. So be very careful. Just go back and read what I posted during the period between March 2013 till September 2013 to understand the situation more clearly.

Everyone who follows Mr kcchongnz columns will agree that kcchongnz gives out good and well thought out advices. For that, we cannot thank him enough. His opinion on mutual funds especially Public Mutual is spot on target. I once got so frustrated with Public Mutual that I wrote a 3 page letter and handed it over to their Wealth Manager and asked her to forward it to their HQ.In my letter, I asked Public Mutual why I would want to waste my time and money investing in many of their non-performing funds. I highlighted that the rates of FD returns were higher than their non-performing funds and named some of the funds I held or had sold off. From my experience,I can safely conclude that their fund managers push their agents to sell slow moving funds that does not benefit its investors in the long run. After carrying out my research, I emailed my Public Mutual agent and asked him whether he was asked to promote slow moving or non-performing funds to their clients. He did not bother to reply to my queries, so I made my own conclusions. The agent had years earlier persuaded me to switched my portfolio from some performing funds to what he claimed was " sure Winners" at no cost in switching. Sad to say, I held those non-performing Public Mutual funds for many years and finally sold it off last year with no profits. These funds were Far East Dividend and China Select fund. Another was a Sukuk fund that the bank Wealth Manager says could pay out 4% to 6% per annum. I sold it off 18 months later because upon reading the annual shareholders report, Public Sukuk was lending out our money to "Highway concessionaires, plantation groups and Power plant operators at below 4% interest. So how can they pay me 4% to 6% per annum. Better invest on your own but with your eyes wide open.Learn from lessons taught by kcchongnz even if it is just discussions in a forum. Keep it up Mr KCCHONGNZ.

Guys, take note. Perisai`s pipe laying ship`s charter contract with KencanaSapura just ended. Its Mobile Offshore Production Unit Rubicone contract will also end by the end of September 2013. These two assets were the ones bringing in the bread (so to speak). Even if MOPU (Rubicone) gets a new contract elsewhere, it will need 6 months downtime for relocation. So you guys must realise that Perisai`s 4th Quarter 2013 earnings will be heavily impacted. Its FPSO ( floating production,storage and offloading vessel) Perisai Kamelia can only come on stream next year together with its jack-up drilling vessel Pacific 101. So far, no contracts in sight. If I were to be you guys, I will wait for further developments before I commit to buying Perisai. If we are uncertain, the best thing to do is to lay off the counter until you see a clearer picture. In share investing just like a surfer, you do not need to ride every wave. Just catch one or two big waves and enjoy the long rides. Remember, with fixed overheads and periodical payments to be made for its new assets which are yet to start operations, cash flow might be a problem.