The only way not to be eaten by sharks is not speculating or gambling on stocks.

Correction:
12/7/13, 0.08
should be
12/4/13, 0.08

For a high dividend yield stock like BjToto, you need to consider the dividends given in the past when looking at the current price.

Usually the price goes up before the dividends Ex then it will be adjusted down for the dividends given.

I just like to give you a clue of what is the 'real' price of BjToto after you add back all the previous dividends:

Let’s consider dividends given in about 4 years:

Ex date, net divd (RM) or share divd:

16/7/13, 0.04
12/7/13, 0.08
15/1/13, 1:45 share divd
5/10/12, 0.065
19/7/12, 0.05
9/4/12, 0.06
4/1/12, 0.08
6/10/11, 0.08
8/7/11, 0.03
21/4/11, 0.06
14/1/11, 0.04
6/10/10, 0.08
2/7/10, 0.08
13/7/09, 0.11 + 0.19 + 1:14 share divd

Based on 16/8/13 closing price of RM4.20,
The 'real' price =
4.20*(46/45)*(15/14)+(0.04+0.08+0.065+0.05+0.06+0.08+0.08+0.03+0.06+0.04+0.08+0.08+0.08+0.30) = RM5.725

More reasons to goreng this stock :D

http://www.nanyang.com.my/node/556829?tid=462:

自成立新管理层，改变商业策略，以及2012财年业绩转亏为盈后，分析员预测GHL系统（GHLSYS，0021，主板科技股）今年净利将倍增，并回到投资者雷达。

JF Apex证券分析员相信，2013财年净利可倍增至800万令吉，而2014财年则进一步扩大至905万令吉。

在这些利好因素下，分析员看好GHL系统的前景。

在GHL系统成功转亏为盈之后，强劲的净利展望将可引起投资者的购兴。

虽然JF Apex证券并无追踪该股，但建议投资者买进股票，而合理价格为0.60令吉。

It is now in speculative phase since speculators using the recovering earnings as an excuse to goreng it. For investors, we need to observe whether the earnings keep on improving in coming quarters.

In Star news 30/7/13 posted earlier, BjToto official said “will list its business trust early in the fourth quarter of this year”, ie Oct – Dec 13.

They seek extension from BNM for “6 months from 24 August 2013 until 23 February 2014 to implement the Proposed Transfer”. That means the original deadline must be 23/8/13 – not sufficient time to complete. Hence need extension.

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Posted by daudbinrajab > Aug 1, 2013 02:16 PM

all thing go up must go down, so investigate , buy and sell , nobody want to be the sharehold of the company but we only want to share their profit only , i'am right or wrong , few hundrend a day it ok , more is bonus , but i believe ths stock will for good with in 6 months ahead
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Hehehe, it's now party time for short term speculators & gamblers. Welcome & go ahead to goreng, goreng, goreng :D

Oh, don't get confused with BjToto & Sports Toto M'sia too. One is the holding company & one is the subsidiary. BjToto has other subsidiaries beside Sports Toto M'sia, for eg, Berjaya Philipine.

You're confused.

We are talking about 2 different entities here:

(1) BjToto
Already listed in Bursa for many years, NO changes to its listing status.

(2) STM Business trust
Seeking IPO or new listing in S'pore. Will be a new subsidiary of BjToto & hold directly the business of Sports Toto M'sia.

I don’t think BjToto has outlet in S’pore, it is just listing the business of its subsidiary, Sports Toto M’sia, in a Business Trust in SGX. If listed in SGX, it is a S’pore stock, only after secondary listing in M’sia then can be traded as a bursa stock.

Good question, you're 1 step ahead! However, there is no details of 2nd step since 1st step is not even completed yet.

Latest news of the business trust:
http://www.thestar.com.my/Business/Business-News/2013/07/30/Toto-Trust-to-list-in-Singapore-by-Q4.aspx

Berjaya Sports Toto Bhd (BToto) will list its business trust early in the fourth quarter of this year, a top official said. … all approvals had been obtained for the listing of Sports Toto Malaysia Trust (STM-Trust).

“Singapore would be the primary listing. We intend to seek a secondary listing on Bursa Malaysia,”

“We are updating our prospectus before we can launch the trust. We are doing that now and expect the listing to be completed early in the fourth quarter of the current calendar year.”

Under the exercise, BToto shareholders will likely get a special dividend of more than 40 sen per share, according to reports.

In a circular distributed to its shareholders last November, BToto said the listing was expected to raise S$270mil (RM685mil), out of which S$234.95mil (RM597mil), or an estimated RM45 for every 100 BToto shares held, would be allocated as a special dividend to shareholders.

Analysts have mixed views on BjToto business trust, some like it, some don’t.

A summary of what will happen based on what I’ve read:

After listing of business trust, there will be a special dividend of around 40 to 45 sen per shares. However, future earnings of Bjtoto will be diluted since it will only owned around 80% of Sports Toto M’sia, this will likely affect the future earnings & dividends of BjToto.

They also considering distribution of the business trust shares to BjToto shareholders (I think after secondary listing of the trust in M’sia).

Ya ya ya, this is internet, anybody can pretend to be an insider & write any unsubstantiated claim to talk up or down a stock prices. :D

The directors’ profile do not support your argument. The executive directors have strong background in technological company & their experience match GHLSys industry very well! They also have the right business skill to expand the company.

From Annual Report 2012, Directors’ profile:

(1) LOH WEE HIAN, Executive Vice Chairman:

He has a strong background in the telecommunications industry where he formed Telemas Corporation Sdn. Bhd. in 1989, a mobile phone retailer and master distributor for Ericsson. He then co-founded e-pay (M) Sdn Bhd in 1999 and was the Managing Director responsible for strategic planning and financial performance of the company. Under his leadership, e-pay (M) Sdn Bhd became one of the leading electronic top-up processors in the South East Asia region and the leading processor in Malaysia. He listed e-pay Asia Limited on the Australian Stock Exchange (ASX) in 2006, where he is also the Executive Chairman.

He is one of the founding members of Young Entrepreneurs Organization Malaysia Chapter, a global, non-profit educational organisation for business owners.

In 2006, he was selected as the winner for Ernst & Young Entrepreneur of The Year Malaysia 2006 Award under the Technology Category.

(2) KANAGARAJ LORENZ, Group Chief Executive Officer

Raj, born in 1957, entered the payment solutions industry in 2001 when he joined DBS Bank Limited to create the first direct debit, online real time payment gateway in Singapore. In 2002, the business was sold to NETS Pte Ltd (“NETS”), a company owned by the Singapore Banks, which operates the national EFTPOS, Cashcard and ATM networks in Singapore. Raj was the Managing Director of NETS’s Online Payment subsidiary, eNETS Pte Ltd’s (“eNETS”) and was instrumental in growing the business from inception to its present dominant position in Singapore, serving banks in Singapore and regionally.

Concurrent to this role, Raj also managed (until 2007) the International Markets Business of NETS, a business group responsible for expanding NETS overseas through acquisitions, partnerships and alliances with overseas payment operators. While in this role, NETS acquired a subsidiary in China as well as entered into agreements with China UnionPay and MEPS that enable Malaysians and Chinese consumers to use their Bank cards on NETS’s network.

Prior to NETS, Raj was employed for more than 12 years with Citibank Australia and Malaysia. He covered several functions during his career with the bank, including; Marketing Head for a Corporate Banking business unit, Financial Controller and Risk Manager. An accountant by training, Raj is a Fellow of the Institute of Chartered Accountants in England & Wales, and the Institute of Chartered Accountants in Australia. He is also a member of the Malaysian Institute of Certified Public Accountants.

(3) NG KING KAU, Executive Director

Mr. Ng, born in 1950, began his career as a manager in an electrical chain store in Malaysia between 1975 – 1978 before joining American Express as the Country Manager of Malaysia & Brunei. He was the Vice President – General Manager for American Express in Malaysia and Brunei before being promoted to Vice President – Business Development for American Express Asia Pacific Australia Division based in Hong Kong. He was instrumental in building and making the American Express Card the leading payment card in Malaysia.

Mr. Ng, known as ‘KK’ in the payment and loyalty card industry in Asia, has a total of over 30 years of experience in building, operating and turning around payment and loyalty card businesses.

He left American Express in 1986 and joined MBf Group Malaysia where he organized and built MBf‘s Card business and led it to become the largest card company in Malaysia and the largest MasterCard issuer in ASEAN region in 1993. He left MBf as President of Card and Payment Services in 1995 and founded InterPay International Group which has investments in payment and loyalty card businesses.

He was a Director of Maestro International Inc. from 1993 to 1995, which is a subsidiary of MasterCard International Inc. From 2006 to 2009, Mr. Ng became the Chief Executive Officer of Cardtrend International Inc., a public listed holding company in the US which was involved in the payment and loyalty card businesses in China and other Asian countries. Prior to his resignation on March 1, 2011, Mr. Ng was the Managing Director of Payment Business Solutions Bhd. which was spun off from Cardtrend International Inc. and is the holding company for a group of payment and loyalty related business, including Cardtrend Systems Sdn. Bhd., a MSC status company in Malaysia.

timl, are you talking about the old management Or the new management? Can share with us how the management is no good?

GHLSys is a recovery story.

GHL Systems Bhd - A hidden gem:
http://klse.i3investor.com/blogs/kenangaresearch/32049.jsp

GHLS was initially making losses from 2008 to 2011. However, in 2012, it started to turn around with a net profit (NP) of RM4.4m. This was following the emergence of a new group of management/shareholders in end-2010, which led to a progressive implementation of strategy changes such as the divestment of its loss-making China subsidiaries and the acquisition of COD, a software solutions provider for financial institutions in Thailand. This has led further to the group recording NP of RM2m (surging 80% YoY) in its recent 1Q13 results, which is already half of its FY12 full-year earnings. This was on the back of a +42% YoY rise in the revenue with an improved EBITDA margin of 16.2% from 14.2% in 1Q12.

Fair value at RM0.46. We believe the group could achieve our FY13 NP projection of RM7.8m judging from its decent NP of RM2m in 1Q13 and the sustainable revenue growth in its shared and solution services. We value the stock at RM0.46/share @ 7.0x FY14 PER, which is at a 25% discount to the FBM Small Capital Index PER of 9.3x given its relatively small market cap and illiquidity concerns. We believe the stock has good potentials given its relatively cheap valuation and strong earnings prospect. The stock is also trading at an undemanding valuation of 5.0x forward PER now compared to its regional peers’ PER of 15.6x.

This is what happen during limit up, buyers already bid at the highest price possible (limit up price). Sellers can only sell direct at limit up price.

kevin, which broker are you using? Something is wrong with their online trading platform - can't even allow for 30% limit-up!

Early pre-opening: TOP hit limit-up of RM4.16 (3.20*1.3) :-)

Buy vol, buy price, sell price, sell vol
3900, 4.16, 4.16, 984

I see many of you do not understand how TCP (theoretical closing price) works during the pre-closing period.

TCP (theoretical closing price) & TOP (theoretical opening price), explained based on what I had studied & observed:

TCP is calculated dynamically based on all the bids (buy) & asks (sell) entered using an algorithm to fulfill certain objectives.

--------------
https://www.itradecimb.com.sg/app/help.client.services.z?cat=01&subcat=01_06&subsubcat=40288c9f1de6a0c2011df1cbb098049f

Q2.What is Theoretical Opening/Closing Price (TOP/TCP)?
The TOP/TCP is the price calculated and displayed during the pre-opening and preclosing phases.
The TOP/TCP pricing is formulated based on the following theoretical pricing algorithm, that :
* Maximizes the number of shares traded (executable volume),
* Minimizes the number of unfilled shares (minimum surplus),
* (i) If an imbalance of unfilled shares is on the buy side, the TOP/TCP will be the highest price therein,
* (ii) If an imbalance of unfilled shares is on the sell side, the TOP/TCP will bethe lowest price therein,
*Price closest to the reference price.
--------------

During 4:45 to 4:50pm, orders can only be entered or cancelled but they will not be executed & TCP will be calculated continuously.

All the bids >= TCP will be combined under the 1st best buy & all be asks <= TCP will be combined under 1st best sell. Both 1st best buy/sell price will be TCP.
Eg:
Buy vol, Buy price, Sell price, Sell vol
2300, 2.20, 2.20, 3100
There are 2300 lots bid at price >= RM2.20 & 3100 lots ask at price <= RM2.20.

After 4:50pm, the bids & asks at TCP will be matched with priority of those highest priced bids or lowest priced asks first. If more asks than bids, then the lowest priority asks with highest price & queued last will not be matched.

Hence, if you want you bid to be queued in front, you must bid higher than TCP (or lower for asks), but then you will shift the balance & affect the calculation of the TCP. If the big player pull out at the last seconds, TCP will change dramatically & you may be matched at the price that you don’t like.

After 4:50pm, orders can only be matched at TCP.

Similar for TOP but happened during pre-market from 8:30am to 9am & only for opening transactions.

I did a google search on Married deals & here are my findings:

--------------------------------

http://singstocks.com/understanding-of-married-deals/

Off-Market Deal is also known as ‘Married Deals’.

--------------------------------

http://protradeshares.com/market-deal/11/bursa-malaysia-market-off-market-deal

Off-Market Deal is also known as ‘Direct Business Trade’ (“DBT“). In the stockbroking industry, there are 2 types of DBT known as ‘Married Deal’ and ‘Direct Deal’.

There is a difference between Married Deal and Direct Deal. A Married Deal referred to the Purchase and Sales that is done between clients of the SAME Broker whereas Direct Deal is between clients of different Brokers.

--------------------------------

http://www.bursastation.com/tutorial/directtransactions.html

Married Deals - A Direct Business transaction in securities where a Participating Organization acts on behalf of both the buying and selling clients.

--------------------------------

My conclusion: Ooi explaination of married deals was wrong & Sohhai67 was right! Married deals are Off-market deals & hence not in Open Market transactions!

Price should go back to normal on Monday & those who bid & got it done at TCP of RM3.20 will be the lucky one who HUAT!

By next 2 centuries, we will have nuclear fusion - a clean & abundance energy source. Fusion reactor has been under research for many decades, it may take a few more decades but eventually there will be a break through!

Better sell to them since the acceptance level is low according to 6/6/13 announcement - unlikely to be successful.

Directors of MSports should read this article:

小股东大权利：龙筹股东盼股息
http://www.nanyang.com.my/node/536747?tid=687

For the past 2 years, they proposed for a dividend in 4th quarter report, but this time not in 4QFY12 report. This is unusual, maybe a hint that there is no dividend this year.

However, there is still a chance that they may declare a dividend entitlement when they announce 1QFY13 report, which is due by end of this month, similar to what they did in last 2 years. If not, then no hope for dividend this year. Then I will be highly suspicious of their accounting!

If they follow the same dividend payout ratio (20% of PAT) like last FY, then we can expect 2.324 sen this year.

Dollar Cost Averaging works best in a long & deep bear market!

Still in progress. The last announcement was on 3 Apr 2013:

On behalf of the Board of Directors of BToto, Maybank Investment Bank Berhad is pleased to announce that the Monetary Authority of Singapore (“MAS”) had, vide its letter dated 2 April 2013, informed that STM-Trust may proceed with the lodgement of the prospectus for the Proposed Listing with the MAS.

With gold bubble bursting, once again, Warren Buffett is proven correct!

The take-over offer is conditional - need 90% acceptance - otherwiase the offer will lapse & all acceptances will be returned. See the attachment in announcement on 16/4/13 - section 3.2 'Condition of the Offer'.

Even if it is unconditional, the buyers need to make profit from buying at a discount.

------------------------------
Posted by amandang > Apr 12, 2013 08:44 AM
epf selling -where to check?
------------------------------

Available in

http://www.bursamalaysia.com/market/listed-companies/list-of-companies/plc-profile.html?stock_code=7106

Most people lose money in unit trust because they always buy during bull market when the prices are already high. If you buy during bear market when the prices are low & keep until bull market, you'll make money - my own experience with unit trust & close-end fund.

already ex 15/01/2013. see
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1151341

All these predictions are getting more & more accurate as time goes on, eventually someone will get it right! :-)

She is commenting on CP Teh personality lah! Read carefully!

I never listen to any sifu! Always do my own homework.

Those who listen to sifu are either lazy or plain stupid!

Your comments remind me of the kind of people we call hypocrite.

Well said, shirley1, I like your comments on his ego, indecisiveness, emotional & no stance.

It's really puzzling. Maybe they just sell some of those shares that they bought at around $0.29-0.30, takes some profit in view of uncertainty? Or maybe they just want to trade MSports?

However, the most important thing is still the upcoming quarterly results. If it improves at least QoQ then price should remain firm.

WB strategy only works if you buy strong fundamental stocks with good long term prospect.

If you buy speculative stocks, do not expect it will ever work for you!

Sold all my remaining ICap shares early this morning (also sold around 12% last Wed) with average sold price of $2.49. I accumulated ICap shares during the last bear market from 2/7/08 to 23/1/09 with average bought price of $1.558. Hence, I have a net profit of 58.8% & annualized return of 11.9%. Well, nothing to shout about but it’s good enough for me. :)

I’m taking profit & looking for bargains in other stocks. If there is no bargain, I would rather park my money in the bank & wait for the next bear market. Bear market is heaven for bargain hunters & I usually accumulate during bear market & sell in bull market. Well, with cash level at 57% in my portfolio, I’m hoping for a bear market now. Hehehe.

Below are the analysis I wrote during the weekend & the basis of why I sell:

In news “Laxey fails to get on iCapital’s board”: “… around 86 per cent of the shareholders present voted against (Laxey Partners) … Shareholders holding at least 80 million of the fund's 140 million shares had voted today.”

A simple calculation shows that there are 68.8M shares, i.e. ~49.1% of total shareholding are loyal to TTB. Hence Laxey Partners have no chance of passing any future resolution since almost 50% of total shareholdings are loyal to TTB. I think they are not going to buy anymore & will probably sell their shares. Since they start accumulated around $2.00 & highest ~$2.30, their average price could be ~2.15. If they sell > 2.15, they are still profitable!

In future, no foreign funds would buy since there is no way they can liquidate it. What’s likely to happen is that its price will probably fall back to the previous boring state & stuck at low price with heavy discount & not many people interested except TTB loyalists. Can they push up the price? Not likely, if they can, it would not stuck at low valuation in the past.

Also regarding the new dual-listed fund:

The dual-listed fund should be a new fund, it will have to go through IPO process & you have to pay to subscribe it. I just can't figure out how the dual-listed fund can be linked to ICAP. Yes, ICap may subscribe to the new fund but remember they can only buy not more than 10% in 1 stock! Even if they change the article of association so that they can buy more, they only have ~33% cash to buy!

Would a dual-listed fund under heavy demand in another country? Well, most of TTB loyalists are in M’sia, not in other country, its unlikely for the fund to have heavy demand! A closed-end fund’s price is determined by demand & supply, if not many people interested in it, the price will stuck in low gear forever!

In addition, this is not a high dividend yield stock. If there is a recession or bear market, then there is no dividend to ride through the bear market. Its NAV will also drop in a bear market.

Bye-bye ICap, this is my last post in this thread. BTW thanks for the profits & I may come back in the next bear market. :)

VOTE FOR YOUR POCKET, VOTE FOR LAXEY PARTNERS!

Vote for Laxey Partners & laughing all the way to the bank. :)

Vote for Capital Dynamics & crying all the way to Holland. :(

In "Laxey says it will keep its 7% stake in iCapital.biz":
"Pegge also found it “ridiculous” that the board has remained silent while Tan appeared to be speaking on behalf of the company where he was only a manager."

Hahaha, the board is silent while the manager is talking... Arrogant guy!

VOTE FOR YOUR POCKET, VOTE FOR LAXEY PARTNERS!

TTB starts talking & the price dropping again. :(

VOTE FOR YOUR POCKET, VOTE FOR LAXEY PARTNERS!

Today the price up after Laxey Partners strike back! :)

In “Laxey MD: We have no intention of replacing Capital Dynamics”:
“He said two of Laxey's funds, the Terra Catalyst Fund and Value Catalyst Fund, were in the process of being wound down and the cash returned to shareholders.”

At least they have the courtesy to liquidate undervalue fund.

Dear shareholders of ICap,

Saturday will be the big day where the fate of ICap will be decided in an AGM, please vote wisely.

If you want the share price to go back to the old state where it was weak, boring, little volume, few people interested, then go ahead & vote for Capital Dynamics.

Don’t let the arrogant TTB intimidates you into voting for them, if he wants to resign, let him! He is the fund manager, supposed to be the servant of the shareholders, but he acts like he is the boss.

Vote for your own interest to maximize your profit! I’m sure if Laxey Partners win, the price will go up!

VOTE FOR YOUR POCKET, VOTE FOR LAXEY PARTNERS!

For ICap, it is NAV (Net Asset Value) not NTA. For a CEF, its assets consist of cash & shares only. Hence it can be converted to cash easily.

For other companies, they have assets like building, plants, equipments, etc & it is not easy to liquidate them!

The share price is dropping after the arrogant TTB threaten to resign. Look like the only way to maximize your profit is to vote for Laxey Partners.

If Capital Dynamics win, the price will drop further!