Above Kingfisher comment is not correct. Munchy's founder s' surname is Tan and current owners are the Soo family. Totally different.

Tan's father is indeed the one who founded Hwatai but has sold all his shares back in 1996.

The only logical thesis is that Tan side may buy over Hwatai from Soo

Read; https://www.theedgemarkets.com/article/entrepreneur-c-k-tan-group-ceo-munchy-food-industries

One of the classic sign the company is a fraud comes from its tax paid. Less than 5% effective tax rate over 5 years? Think about it.

Whoever still buy this stock after past repeated pump and dump really deserved to be slaughter.

You are using June QR but Sept QR is already available. And the liabilities numbers are much higher in the latest one. Not much upside once factoring in that

Great analysis! Thanks for sharing.

I see you made some changes on your remarks about TY Yap haha

You should consider doing this detailed analysis for compensation, very insightful. Thanks for sharing!

All these new accounts made just to make one post... thread carefully guys

Interesting case study. Seems like those analyst need to at least dig in as deep as you.

Philips is absolutely astute with his comments. Warrant are never truly free per se. Investors should not view it as free money as it would just cause further share dilution in the future.

In fact, warrant should not given at all in my opinion as it complicates thing unnecessarily without any real benefits

Hi DK66, please include me too

Please do invite me too

You know something is fishy when article compare a micro cap with Berkshire Hathaway and give the false impression that Arbb might turn out to be something similar.

Few things are more satisfying than having people appreciate your work. Thank you for the write-up ypu did for the past few months.

Dont think your opinion represents all of us here.
DK66’s investment thesis has provided real insight and it is long winded because the case for Jaks was never straight forward.

Assuming the world's % of medical staff approximate Malaysia's is questionable to say the least.

but I can concur the conclusion derived. Share prices have seem to rise above fundamental.

Appreciate your work on the modeling.

I was wondering whether there will be maintenance capex incur throughout the period?

Dont buy so close to QR in case unexpected result

speak for yourself :)

Need another bailout from PNB soon~

@888next

Always appreciate your information, doing amazing work spending time to keep investors up to date.
Thanks!

I see many fake accounts that been pumping this stock has yet to disappear.

Something to ponder on this stock with information from latest annual report 2019:

Arbb has a "normal" trade credit term from 180 to 210, giving customer 6 months to pay money. This is way too generous in my opinion and certainly not normal. (Source: Note 12 of financial statements)

And yet, already Arbb has quite some amount due past 210 days as seen in a table (pg 131 of the annual report). 13% of total receivables are past due 210 days and 30% more past 121 days.

Company can keep generating sales but whats the point if they cant seems to collect it. Buy at your risk, people.

Your cash position did not consider the company's borrowings, both current and non-current.
Taking borrowings into account, cash position will be nearly wiped out.

It is true company is selling at less than net cash position (even after considering their warrant which is a surprise).
But I would say the downside is whether the cash position will still be the same for its coming quarter. None of their retail outlets are operating since MCO and no doubt this will drain their cash very fast indeed. So dont buy thinking this is fool proof.

Brent crude down 15% and stock is up? No way man. Would only consider when price drop below 0.35

Anyone has the original article KYY wrote? He has since deleted the article

Detailed write-up and I have one query.

Your table 1 shows, should I ignore Hibiscus EBITDA in red? because it seems like the losses increase as exchange increase (RM depreciates) which shouldnt be the case?

Before Sell: Die die say Dayang fundamental is still well relative to price. Oil rig will still run despite low oil price

After Sell: Oil rig apparently can be shut down and he has sold all of his Dayang :)

wow, had no idea KYY sold all his DAYANG.
RIP to all his followers.

KYY should stop claiming the bottom and make a fool out of himself. No one knows where is the bottom.

bull trap yo

Thanks for sharing. His blog is indeed a good read.

When the stock drop another 30% the day after you say "the worse is over" RIP

The Holy Grail of Macroeconomics is another of his great book

Okay, got it. Thanks for your time and sharing!

I see, thank you for the explanations. I presumed you got this from last year annual report?

DK66, may I know how can you derive the losses after tax for non-controlling interest of 32m for this quarter?
As you stated, NCI accounts for 49% of the losses in property segment which is 29m before tax. How does that figure goes to loss of 32m after tax?

Thanks a bunch in explaining why Jaks shareholders reports a profit when in total, there is lost. Very much appreciated.

Overall P

I have some minor accounting question here.

Overall P

It scares me that there is so many fake accounts trying to pump this stock up.

CEO of large companies often cannot comprehend or accept that its business are in mature/declining stage. So they often try to embark on new ventures outside its core competencies on the expense of minority shareholders.
This is what I think of seeing AA venturing into restaurant business.

Dear Mr Tan,

I have created my portfolio selection as per the competiton's rules.

https://klse.i3investor.com/servlets/pfs/131317.jsp

Appreciate if you can include me in the competition.

Just only realized too late :/

Hi Mr. Tan KW, my picks for 2020 are as follows:

1) JAKS:- 20%
2) YTLPOWER: - 20%
3) SUCCESS: - 15%
4) MTAG: - 15%
5) SUPERMX: - 15%
6) MI: - 15%

Thank you very much!

Is there any difference between WB definition of Owners’ earnings and Free cash flow? Both seems like the same to me based on your explanation

Fidelity with a 5 % shareholding!!

cytew,
Oh, okay now i get it. Thanks

I dont understand, why fund will be forced to dispose upon receiving the bonus issue? “based on their trust deed”??

higher than expected production?