PE 36x is not a problem if the growth, ROIC and ROE are intact... but any one of metrics justified this PE? keep splitting share to boost up the share price... hmmm ... good move anyway.

Ricky Yeo it is a myth because you don't have a clear understanding of valuation. And I already raise many example from Public bank to Dutch lady.

Invest from business perspective yet ignore net cash flow, if business is not build to deliver cash flow, which is the hallmark of valuation, then what is the purpose of a business?


Ricky, may i know if you have an article about this? i am understand 50% on the ROE+reinvested(your comment above)... appreciated that.

not sure if it is a good or bad quarter... CRM margin is 50% lower than software...

soojinhou Hey look who's back. Broken gem is it? If it is broken directors wouldn't be spending money to convert their warrants to mother shares, would they? Past 2 days saw conversion of 2.7m warrants by a director, which at a conversion price of 25 cents, would have cost him RM675k. With the warrants expiring in 2020, which is a long time away, the conversion suggests that Hevea is soon to become a generous dividend stock. Uncle, please learn how to write short seller report lah. Your report got no teeth.
25/08/2016 06:03
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jinhou, i think he would to say, director converted warrant because he wanted to earn that 0.5c premium... wah~~ got 10k++ leh~~

[The answer lies on the non-disclosure to the public on the movement of the shareholdings of the directors and substantial shareholders of Heveaboard Berhad. You may say if that is the case, these interested parties (Directors and Substantial Shareholders of Heveaboard Berhad) may have violated the Bursa Malaysia listing requirements by so doing.]

FIRE IN THE HOLE, go go go... Please write a letter to bursa and sue the directors! O Kong(fine) these people 99!!!

come on, what's your intention to write here? not all investors read i3 articles, many don't come i3, many read newspapers and your "kind-hearted" advice do not help everyone~~ go and report at KOSMO la~ that newspaper style sama sama you...they will be willing to help if you lick their butts...

Remarkable! Ricky, you're not only an investor but also a philosophist, thanks for the selfless sharing.

Up-down, you know what's ICULS inside TGUAN report or not? PE of 11x??? hmm... advise you to google what is ICULS :D

option2 will be a better idea, cuz it should be annual fee instead of lifetime membership. Since bloody bursa is asking for money yearly not 1 time off, i presume?

But, of course, if this could be done through proper crowd funding will be good to ensure this project is going to succeed surely and certainly.

@moneysifu, Hevea's direction is pretty clear. Clear off the debt to reduce financial cost, 2. enhance automation to increase profit margin.

Compared to its closest peer, Evergreen(which is also a particleboard procedure). Hevea is trading at 6x PE with high ROIC, ROE and terrific FCF generated. Evergreen is only paying 1 cent of dividend at 2016, with PE of 10x.

Certainly, if heave continues to do good, it is definitely able to pay more dividend while expanding and improving its business. With multi-millions of FCF, Hevea is certainly able to pay more dividend. It is just a matter of time :)

net cash, dividend, lower PE... why buy evergreen if you can still buy hevea? :D

downside is limited... :)

hahaha... annualized eps = 48cents... hahahaha

any reason evergreen needs to increase so much of debt after private placement? anyone can share?

sir, thank you.

soojinhou, latitude becomes a forex counter.. lol...

cold eye ady said he would always avoid airline de la~~ dun think too much~~

dont know got dua pao or not....


Pentamaster Corp Bhd executive chairman C.B. Chuah says the group would deliver approximately RM40mil of test equipment in the second quarter of 2016.

“About 30% of the test equipment are for the automotive segment, while the remaining for the smart devices.

“We are projecting a double digit percentage growth for our revenue and bottomline in 2016,” he adds.

hmmm... got goreng-ed after quarter ends...

that's the only reason i can think of... dun wan to push the share price~ BTW, liquidity is low, so they cant get so much from open market too..

current price should factor in the bad result... expected to be panic sell tomorrow though...

hahaha~~ paperplane talked like KESM is doing forex... wahahahah

Such a beautiful number... :D believe magic formula will work sooner

Posted by chrisyap > Mar 1, 2016 10:27 PM | Report Abuse

this donkey is net cash, no debts, ev/ebit < 5, ey > 15 & roic > 15, roe > 15 kiki

Please la~~ whatsapp photo... you want see what is my conversation with Jack Ma regarding Alibaba listing, or Mark Z about FB listing or perhaps some iMessage with steve job? super funny and cute Robert...

got what new info bor~~ your subsequent episode cannot get any BEST-DRAMA award d... perhaps, you should ask Leonardo to write, since he just got Oscar yesterday...

when this counter was 1.3x(last year Aug), i thought this was a JUNK counter... until i learned proper FA knowledge, and I know I was so wrong!!!

In 2015, Padini generated 100m of Free CASH FLOW... after minus off the dividend payment of 37m, padini is still having extra 67m of free cash throughout the 2015...

the gross profit margin is 50%!!! Solutn still have around 24m of book order for 2016~~ i think that's why the group is optimistic :) ppl sure throw tomorrow la...

Penta is getting 45m of order for 1st n 2nd quarter la... and ppl share MMSV news at here for what? tak faham pun

Certainly, CHina stock market bubble was caused by OVER margin/leverage as well. And many china people are now fear of it... My colleague from China had turned all his investment into bond and told everyone STOCK MARKET was cruel and dangerous... I can feel that he had totally lost all his confidence in stock market... Beware of leverage, avoid it as much as you can... Want quick money, just go Genting for quick bid! We invest, for long-term wealth.

Sincerely appreciated all the kind advice...

As a FA follower, if i own this counter at below 1.5. I would not sell a single unit... last quarter result was "disappointing" if and only if you compare with Q3 result. But, 2015Q4 is probably the best ever Q4 result Geshen ever had :)

one more thing, if a company's growth is depending on forex gain(a.k.a other income) it is not sustainable and not real growth... Noby did mention 1 very interesting point, he likes to invest good export companies with little forex loss to protect the downside... :)

Yistock, if Geshen has to discount a lot due to strong USD, then it might not be good in the sense that it doesn't have too much of bargain power to its customers. let's assume the revenue in USD, didn't change for June to Dec 2015. However, I would assume Geshen doesn't have to do discount a lot due to stronger USD.

During Jun 15, 1USD = 3.7++MYR; but during end of Sept, 1 USD = 4.4MYR.
Thus, assume again, the order from company A = 10m USD in June(with profit of 1m) and the payment received during Sept. The foreign gain for this case is actually (4.4-3.7)m. which is 0.7m MYR. Thus, you should see many companies get very extensive foreign gain/loss if the company didn't hedge.

But, during Oct, 1USD = 4.4MYR; end of DEc, 1USD = 4.3MYR. FOr this case, the 1m USD profit will incur 0.1m MYR loss due to forex. And this is also why I said if the fluctation of forex is lower, the foreign gain or loss will be minimal...


p/s: The currency conversion will be determined by accountant but not using the worst/best case like i presented above.

Please refer to BD's blog:
http://bursadummy.blogspot.my/2016/01/how-to-interpret-foreign-exchange.html

Yistock, I might be wrong. But you may want to refer bursadummy blog which talked about foreign gain or loss. Based on what I know, the strong usd is still benefiticial and contribute higher revenue in myr. The fluctuation in forex is lower, that's why the other gain or loss is minimal.

honestly, can you give some real fact data. Like how much of cash hevea generated? how much they "wasted" in buying back own share? what is the interest cover? is the debt too high and deadful to hevea? is the balance sheet like SHXT? instead of lots of soap drama scripts here, you thought you are FBI meh?

yeah~~ i am the first... same format like mr robert who was "STAND TO BE CORRECTED"... thumb up!

i can feel grace123 is sad...

if the tax exemption could be prolonged... this quarter result might be all time high..

6cents dividend <3 <3 <3

Those looked at EPS, of course they will sell... But, the lower EPS was expected due to the deferment order... The LoT business was proven to earn and net profit margin is very high(~50%)...

The decrease in revenue by RM2.3 million in the current quarter to RM10.7 million as compared to the preceding quarter was mainly due to the deferment of sales orders from customers to first quarter of year 2016.

Smart Control Solution System
For the current quarter under review, this segment achieved total revenue of RM2.9 million with the profit before tax of RM2.2 million.

If you do not have any proper FA knowledge, please approach KCCHONG and sign up his online FA course to learn...

haha~~ those reports are jokes... all based on assumption, forecast and so on... better jadi fortuna teller la~~

What About Jerasia at 45 cents? Price up 100% to 90 cents.

And Kheesan at 50 cents. It crossed 90 cents. Up 40%


even though Warren BUffet said you didn't need to excel in maths to pro in investing la~~ but hor, at least +,-,x,/ needs to pro a bit la~~ like 50cents to 90cents is up 40cents, not 40%... LOL.. BUT GOOD JOB FOR YOUR JERASIA... 45c to 90c is 100%, give you 5*

i highly recommend you to buy XINQUAN with so much of "cash" in the bank and dunknw how much of cash per shares... super duper undervalued... please borrow money to sai lang~~~

Calvin, you called too many stocks until ppl bombard u also forget liao leh~~ next time do a i3 portfolio so we can easily track mah~~ I believe warren buffet never "see" stock but understand a lot of more details of the company and its financial statement... cheers, happy CNY.

Lee David Hi kcchongnz. By the way, happy chinese new year. I disagree what you are talking about vs industry. This is because the example you use is unfair and unreasonable to vs industry. As all we know, Hon Hai market value is far more greater than vs industry and Hon Hai is top 1 OEM manufaturer in Asia. The example you use is something like you use bank of Amerika compare to maybank. Does it make sense?
Like what Mr koon yew yin said, we should have businessman insight.Vs industry will have more contract this year and also the tppa winner.
What I believe is the future of vs is brilliant. Therefore, i find it unfair to vs industry. Thank you!

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I beg to differ. Whatever KC shown in article above are not the number but ratio and percentage. KC is talking about PE,EV/EBIT, Cash Yield, ROA, ROE and so on. Is he telling everyone kedai runcit is bad business because it earned only 100rm per day but AEON could earn 10m per day, so AEON is better? NO.

If the kedai runcit is using 10RM of cost to earn 100rm but AEON is using 10b of cost to earn 10m per day. Which one is a better business? I am pretty sure RATIO and PERCENTAGE are pretty "fair" to judge, isn't?


And like what soo said, generally big cap company generally with high valuation. Like Google, it has much higher valuation because everyone BELIEVE they could be better than other smaller cap. So, maybe you are right that it is unfair. But it is unfair to Hon Hai, perhaps.

Sir, this counter is 101% fulfilling magic formula criteria, isn't it?

Thanks sir for another piece of great work! happy Chinese New Year. :)

low PE, high ROIC, high ROE, net cash and growing and growing....

Apollo is one of the rare gems in Malaysia. The management team is awesome. This is a counter for low-risk preference.

perhaps, the most-investor-friendly bank in the world, PBB...

It is funny to see a person who increased a lot of taxes and made the cost of living hiked at an unreasonable rate. Then, after some time, the person again, came out with some amazingly "helpful" plan to reduce people's burden???

I see the capex on development still low compared to unnecessary government expense which helped nothing but enlarged someone's pocket for more HERMES...

hmm... I like luxchem very much~~

please bocor more, wish to collect below 1.4~~