My food, my friend :)

If drop to RM2, i will be back.

OKA is my proxy to ride the construction recovery

Petronas has put out tender to build 16 OSVs. This was reported by The Edge last weekend.

Muhibbah may be one of the potential beneficiaries due to its strategic location of its shipyard.

Rather than fixated with Supermax, investors should look at Superlon.

Back in its heydays, this company always trading above RM2

I believe better earning prospects ahead with growth contributing by its Vietnam factory

The supply chain shift to ASEAN would benefits Superlon too, not just EMS companies

Stay tune

My bucket trade at 1.80 is filled.

What's new?

Already bought a bucket 0.59

i will buy a bucket at 1.80

look where is Kobay now, a mini SAM

this company is due a massive re-rating!

The surprise cut is helping. But the surge more likely to do with the stimulus hope and will further drive upwards by vaccination news.

Just a matter of time, my energy portfolio will rain gold on me
PCHEM
DIALOG
YINSON
SERBADK

Heck, i even bought some MISC
Cheers!

18.7bil order book. Management estimates a 5bil burn rate this year. There is enough earnings visibility for the next 2-3 years.

Serba Dinamik is one of my biggest bet for 2021 recovery theme.

totally agreed with @yistock, in this business, our job is to survive.

My investing philosophy can be summarised in these few words..
"Survival is the only road to riches."

Brent oil to break $50 psychological barrier

Watch this space

Brent oil to break $50 psychological barrier

Watch this space

Touched year high 2.97

Congrats everyone

On track to 100% profit?

FPI 2.43
SKPRES 2.24

Both has surged up since the quarter announcements.


Fabien "The Efficient Capital Allocater" Both SKPRES & FPI announced record quarterly revenue & net profit

EMS companies are benefitting from the diversion of supply chain and reduced reliance on China

The growth story has always been there. The coming earnings announcement would validate such narratives.

SKP today have touched its year high of 1.95

I have two EMS in my portfolio, SKPRES & FPI

Watch this space

19/11/2020 7:43 PM


Sep 28, 2020 8:18 PM | Report Abuse

SKPRES is a proxy to investing in Dyson.

The company is well positioned to record explosive earnings growth this year, mainly driven by higher demand for Dyson products.

Can the demand be sustained?

2 emerging trends are in favor:

First, thanks to Covid and the resulting shift to WFH trend, has resulted in increased demand for both household and hygiene products

Also bear in mind, there is a natural replacement cycle for household appliances.

there is a healthy pipeline of new products, more innovative products to automate more household chores

Second, Covid + trade war has prompted many MNCs to diversify their supply chain and reduce reliance on China

I see this as a permanent structural change in the supply chain where more manufacturers are relocating into ASEAN

PCBA is also contributing positively, gestation period is over, which would contribute to improvement in margin in coming quarters.

I am optimistic.

Building castle in the air? Ever heard of the greater fool theory?

The divestment of 20-25% stake in the healthcare will unlock the valuation of its healthcare unit which in turn boasts Sunway overall sum of parts valuation. Currently, it is a hidden gem embedded in the parent structure.

Both SKPRES & FPI announced record quarterly revenue & net profit


Fabien "The Efficient Capital Allocater" EMS companies are benefitting from the diversion of supply chain and reduced reliance on China

The growth story has always been there. The coming earnings announcement would validate such narratives.

SKP today have touched its year high of 1.95

I have two EMS in my portfolio, SKPRES & FPI

Watch this space
17/11/2020 8:04 PM

Amazing results

Record revenue (281mil) & record net profit (26mil)
Annualised EPS = 16.00 (which only imply 5.6sen EPS in Q4 compared to record Q3 10.40 EPS)

To be conservative, assuming EPS = 16sen
At current market cap, prospective PER = 8.67x
Net cash = 226.1mil (which is 49% of current market cap)
Adjusting for net cash, ex-cash PER = 4.41x

Valuation is dirt cheap.

Reversion to the mean?

Bought a bucket at 13.72

EMS companies are benefitting from the diversion of supply chain and reduced reliance on China

The growth story has always been there. The coming earnings announcement would validate such narratives.

SKP today have touched its year high of 1.95

I have two EMS in my portfolio, SKPRES & FPI

Watch this space

Fiscal stimulus, whatever x trillion it may be, will be the next catalyst to boost oil demand and the expected recovery to pre-pandemic level

Yinson is a good bet for such eventuality

Since last week, we have witnessed massive rotation into value stocks. funds rebalanced their portfolio from stay at home stocks into stocks that linked to economic recovery, the airlines, banks, etc.

Treasury yields have rallied to multi-month highs. the 10YR is approaching 1%.

While positive vaccine news a boost to sentiment, clearly we are in a mini upcycle, I am more wary on the workings of mean reversion.

The path to recovery is much clearer since the onset of the pandemic, the pace is still very much dependent on the successful containment and commercialization of vaccine.

Short term fluctuations aside, I still believe glove stocks a must have in your portfolio, especially so given its prevailing valuations. Post-covid, glove demand is expected to expand at least 20-25% from the usual 8-10% annual growth rate.

Of course, diversification is one free lunch available. When the global economy does recover next year, consumption to eventually normalise, my portfolio of energy stocks would benefit from the rebound in oil price.

Impressive quarter, yes. Record revenue of 300mil+, NP margin approximate 10% with net profit of 29mil.

Annualised EPS = 43sen
Prospective PER = 10.2x

I believe the earnings have been largely priced in. About my fair value.

I have sold on strength last week. Average cost of 2.30

Cheers, guys

When i mentioned KPOWER & SCIB few months ago, someone commented


Stock: [KPOWER]: KUMPULAN POWERNET BHD

Jul 21, 2020 3:44 PM | Report Abuse

To achieve 1bil market cap, the share price has to reach

SCIB - RM8.13
KPOWER - RM8.85


Posted by Steven1717 > Jul 21, 2020 4:47 PM | Report Abuse

Fabien, dont talk C*

When i mentioned KPOWER & SCIB few months ago, someone commented


Stock: [KPOWER]: KUMPULAN POWERNET BHD

Jul 21, 2020 3:44 PM | Report Abuse

To achieve 1bil market cap, the share price has to reach

SCIB - RM8.13
KPOWER - RM8.85


Posted by Steven1717 > Jul 21, 2020 4:47 PM | Report Abuse

Fabien, dont talk C*

Furniture companies are catching the tailwind. I'm looking at 2.10-2.50

Supermax results nothing but exceptional

Revenue 1.35bil
PAT 790mil
NP margin 60%

Annualised profit = 3,160mil
Latest market cap = 26,608mil
Forward PER = 11.88x

Net cash position = 2.36bil (about 9% of market cap)

Bought Yinson 4.76

Believe in the management that they will come back up from this setback.

If Titan does 300mil-400mil in the next 2 quarters. IPO price of 6.50 is achievable. This is the best case scenario.

To make money, it's more important to understand market psychology, the prevailing bias, fundamentals aside.

No one gets poor by taking profit.

You guys enjoy the run while it lasts

Well, on hindsight, I should have buy more. That's easy to say after the fact.

I guess if I pen my thoughts down in a public forum, like Choivo did, may lead to higher conviction. Second level of skin in the game!

Anyway, i'm holding tightly to my 1.68 batch.

Despite profit taking, Harta has remained steady.

Next week onwards will be interesting as we await a slew of earnings announcement from Supermax, Careplus and Harta.

If earnings exceed expectations, I foresee massive re-rating ahead, possibly testing the previous high.

There is no other sector apart from gloves that can provides such earnings visibility in the next 2 years at least.

The prevailing bias is still in favor of gloves. We have seen a resurgence of cases worldwide and we are just about to enter the cold season. This rising second-third wave would re-accelerate the ASPs growth further.

Watch this space.

I rather look at my bet with a long term view (5 years)

The EIA predicted that, by 2025, a barrel of Brent crude oil's average price will rise to $79/b.

SKPRES is a proxy to investing in Dyson.

The company is well positioned to record explosive earnings growth this year, mainly driven by higher demand for Dyson products.

Can the demand be sustained?

2 emerging trends are in favor:

First, thanks to Covid and the resulting shift to WFH trend, has resulted in increased demand for both household and hygiene products

Also bear in mind, there is a natural replacement cycle for household appliances.

there is a healthy pipeline of new products, more innovative products to automate more household chores

Second, Covid + trade war has prompted many MNCs to diversify their supply chain and reduce reliance on China

I see this as a permanent structural change in the supply chain where more manufacturers are relocating into ASEAN

PCBA is also contributing positively, gestation period is over, which would contribute to improvement in margin in coming quarters.

I am optimistic.

I believe the market is right to be cautious. Since its listing, for whatever reasons, LCT has disappointed time and again.

On valuation, i do note its parent in Korea is also valued on P/BV basis.

Anyway, I do think LCT will benefit in 3Q20 due to the strength in the PE/PP-Naphtha spreads. Likely, the petrochemical prices may remain strong until year end, helped by the hurricane disruptions. But i'm wary of the incoming new supply, especially the anticipated big increases in China PE productions & Pengerang coming on stream.

Good thing is the demand has seen its trough. One big plus factor is the Chinese economy is recovering strongly.

Buying below net cash is a no brainer though.

Thanks for the write up, Choivo.

You seem more optimistic than i do, but good for my convictions.

Had bought a bucket at 1.68

https://klse.i3investor.com/blogs/shareseatreasure/2020-09-15-story-h1513495819-HARTALEGA_Most_Undervalued_Currently_All_research_houses_are_badly_wron.jsp

This guy is good.

Both Harta & Kossan are deep laggards.

It take years to build reputation. But it only takes one moment of foolish act to lose credibility

We have seen this cycle before.

The liquidity flush from easing monetary policies + stimulus = weakening US dollar in turn leads to commodities bull cycles including gold

First, you need to separate out which are noise and which are signals.

Whatever newsflows, be it about vaccine, windfall tax, shifting of funds to recovery play, all these are noises.

Focus on the signals, i.e. the earnings. All that matters are earnings.

Glove is one sector you can be sure to see earnings growth q-o-q. In comparison to tech, which valuation has gone off the roof in my view, gloves valuations remain reasonable, backed up by numbers, the forward earnings.

PCHEM is my largest holding. One for the long term, easily looking at 10 years down the road.

If it drops more, won't hesitate to add further.

Buy when no one wants it.

Record quarterly profit of 147.8mil

Cheers!

Why bother arguing?

I have both Supermax and Kossan

Both issuing bonus issue
Both to be included in MSCI Index
Both to be included in FBMKLCI Index
Both best quarter yet to come

RHB raised TP to 3.77

Post earnings adjustment, our TP is lifted to MYR3.77 from MYR3.46, pegged to unchanged 14x FY21F P/E. We are upbeat on this stock, as it offers strong earnings growth. This, in turn, is premised on the potential doubling of its orderbook by end-FY21, superior ROEs, and its undemanding market valuation of 10.6x

Orderbook anticipated to hit RM2bil by end 2021

Very good results

q-o-q Profit increased by 173% and NTA increased by 135%

Net cash = 77.8mil (35% of market cap)

You are right.

It's time to look at plantation counters.

The dynamics seem favourable to the industry, increased demand and uptrending CPO prices.

So far, TopGlove, Supermax and Riverstone had announced bonus issue

Harta and Kossan will follow

These 2 are laggard compare to the rest