eddie168, Take my advice, don't speculate! I think a lot of people are dying to know what is wrong with CCM. In one day, the share price went from rm1.11 to rm1.24 and after a few days it went from rm 1.24 back to rm1.11. Even though CCM is a very old company, it still can amused people!

Aside from poor dividend policy, this is a company that is demonstrating a lot of tenacity against business challenges. The overall economic conditions were subpar or bad from 2009 to 2013 but the company was able to make a total of 252 millions over a period of 5 years. I think it is a good company and I would think at the pice of 24 cents per share is a good opportunity to accumulate this counter.

Of course, the com's cash piles are normal, their net profits from 2010~2013 amounted to 252 millions in total. The company paid taxes of more than 20 millions each year. Starting cash in hand was 53 million at the beginning of 2010, that is why it is normal for cash in hand to be more than RM300 (252+53) millions, the accounting is as good as angel, .

betrail, don't need to cut loss! Just wait for few years and don't vote for DAP anymore. They really are not better than you thought they are!

rlch: 2569 Sungei Bagan Rubber, share price alway RM3~RM3.65 but nta RM 6.49. It is useless to keep shares that don't pay a dividend. They are treating shareholders like slaves (to be discarded after being exploited) that is why their market price stays so low continuously for years after years!
Like the idea of a share you keep for 20 years and the price doesn't even improve at all.

rlch: 6068 PCCS, never lost money and never paid a dividend before, share price has been staying around 50~cents but nta is RM$2/=.

I believe in CCM because the company is supplying what Malaysia and the other Asean countries needing the most: medicines, fertilizers, water chemicals, and other rubber chemicals. For this reason, its business will turn around someday. I hope the process can be quicken if management pays attention to efficiency. Furthermore, it is trading at a price that is a lot lesser than its nta per shares, meaning it can be bought for long term play. There are not many government counters that are still selling at RM1.13 per shares. Let us be realistic!

This stock's Net Tangible Asset per share stood at RM1.77 but it is now only trading at RM1.13 per share. Both PNB and TH owns approximately 75 percent of total shares. This is the cheapest counter managed by the two government linked financial houses. This share also underperformed the market for the last 5 years. Is this the kind of management quality we should expect from both of these agencies? The improvement is taking too long to materialize! I just can not believe in myself now? Is this Malaysia standard? I think PM Najib will not like this to happen too! I think CCM needs a revamp too.

We idiots also know that the mother share pays dividends and enjoy all the other rights but the CA's are useless. For example, CA holders do not get a share of Narra after the company's restructuring scheme. By selling CA now, the security firm is profiting at the expense of ignorance buyers. I don't know why the security firm is doing such a thing, it it a bad move, because this could be a drawback against its reputation. Ha!Ha!Ha!

What comment do you need? Avoid all speculative counters especially those that have a very powerful advertising campaign out to get people to buy shares. Why do you think Kenanga so eager to issue the call-warrants now if they expect prices to go up to more than RM7.20 the conversion price? This is the ghost month and there are a lot of ghosts, please don't believe in ghosts who said things that do not exist!

There are only two beer companies in Malaysia. No matter what the beer market will be the beer companies will never go out of business. The companies only have pe ratio of around 18 times which is still not too high. The best part is they pay out most of their net profit for the year as dividends which is quite high.

Now you know why they can't pay you a dividends, and becareful, these Chinese counter may not still be around when we celebrate Wawasan 2020.

Feng Tay Enterprises Co., Ltd. was established in 1971 and focuses mainly on producing athletic shoes. Its headquarters, primarily for product development and human resources functions, is located at Yunlin Science and Industrial Park in Taiwan, while its factories are spread throughout China, Vietnam, Indonesia and India. *****Feng Tay Group currently has around 90,000 employees and produces more than one sixth of NIKE's total annual sales volume*****. As a result of our leadership and employees' diligence in adhering to our values over the past 37 years, our Group operates on an exceptionally solid foundation that keeps us growing stronger each year.

POU CHEN GROUP
主要客戶
寶成國際集團為全球最具規模之品牌運動鞋和休閒鞋製造商，為Nike、adidas、Reebok、Asics、New Balance、Puma、Converse、Merrell、Salomon及Timberland等國際品牌代工製造/代工設計製造(OEM/ODM)，也是全球唯一可同時服務60個以上國際品牌的專業製鞋廠商，鞋類年產量超過3億雙，約佔全球運動鞋及休閒鞋市場以批發價格計算之20％。

Why don't you split up CCM into 2 companies, focus all your resources on two big areas, sell off the rest of your businesses that does not have so good long term prospect to pare down debts.

CCM needs one swift change...one big change...it has to become more competitive in a few years so that it can survive in the long run. You can not be good in everything and have the money to support everything. Good thing is management has realized this. In the Annual Report 2013, management have mentioned a lot of time their strategy is : on one hand they are trying very hard to make better products for consumers to buy and while on the other hand find ways to keep cost under control. I don't know what to say, I just hope they do better and better next year and in the future years. But swift change....is imminent.....

Its price is 24 sen because the company gives investors no value at all: (1) their business profits ave deteriorated since listing, (2) The company did not pay out dividends in the last two years, (3) size and market share of company is very small, (4) the company products is not rare or exclusive, product prices continue to drop year after year while manufacturing cost continue to eat up profit year after year. The company is in a challenging position now and the situation will become worst in the future.

The only way to become successful in life is to focus on doing a few things you do really well. HLIB will be more focus on the consumer segment: the motocycles and ceramic tiles. While Narra on industrial products, namely concrete products and cement. I like this company strategy and believe that it will bring more values to shareholders. The is a strategy that enable each company to increase profitability and thus paying higher dividends in the long. Now, each of the company is more focus on doing what they do really well and also using resources more efficiently. They always have very good management with good thinking at the HLIB.

Khalid, when you do something solely for your own benefits and not for the benefits of the whole community, you are bound to fail. You may be happy for a while, but in the long run, you are going to pay for what you did. A person has to work as a group in order to become successful. You don't follow principles, you are such a self-centered man.

Erata. Because your par value is 50 cent, the 4% dividend policy is actually a 2% dividend policy and you pay out Rm20 for each lot of share investor holds, which cost RM1300 (based on IPO price) per lot. So a dividend policy of (4%+3.75%)/2=3.75 % for the full year only pay you RM37.50 if your cost is RM1300 and you hold the share for one full year. You shouldn't brag about your dividend policy of 3.75 % for full year. Don't say you are being fair when your performance is so low. With the 3.75% policy, you are paying less than the dividends of a 5-year Malaysia government bonds which is risk-free. For the investors, their return is RM37.50/RM1300*100=2.9%. Actually, for an investors who bought your shares since IPO at RM1300 and not at the par value, they only get 2.9 % every year. You see! Your company's dividend standard is below the one pay out by the Malaysian government bonds and you said you are being fair. I let the public judge for themselves!

Because you are a 50 cent par value stock, when the company declares 4% dividend, investors only get 2 % from paying around RM1300 (Based on IPO price) for each share. That dividend policy translates to only RM26 per share (2% of RM1300). In fact, even if they distribute dividends twice a year, your cost of purchase is RM1300 and the company only give you RM52 or less to you for holding the share for a full year. This is not acceptable. What is acceptable is a 8~10 % dividend policy for the full year. Last year, your dividend policy was only about (4+3.5)/2= 3.75% for the full year (remember your par value is 50 cent). Your dividend policy is only 3.75 % for the full year.

"Since 2002, the PBA Holdings Bhd (PBAHB) has been reporting operational profits and providing fair dividends to all its shareholders. The key to the Group’s continuing success is sustainability – in terms of outlook, operations and business continuity.", page 33.

Based on such low standard of 3.75% dividend policy for a full year, how can the DAP Penang government still claim that they are being fair to shareholders. Tipu also jangan banyak banyak lah!

If you read their Annual Report 2013, the report will tell you that business conditions are challenging for a lot of their businesses such as fertilizers, glove raw materials, chemicals for water. The only bright spot is pharmaceuticals. The company kept saying in the last few years that they are doing their best to restructure their businesses. They just need one-time bright ideas or plans to turn the company around. They kept saying that all their problems are external factors. Maybe they should also look internal also. Are they initiating enough changes internally because this is a very old company and more things need to be change.

The privatization this time the company Mas has to pay for the RM0.27 per share buyback by the company itself. Because of this SCR or Selected Capital Reduction, this means the company Mas Cash left-behind after the exercise is expected to be reduced. People who work there may have to face reality and their benefits may be trimmed due to the expected cash level reduction. That is why some of them are unhappy about the privatization and some public figures also speak out against the government for this reason. I am just surprised, why didn't the politician speak out for the shareholders? The shareholders are paid only RM0.27 per share only!

Tasek treated their shareholders very well and investors love them by paying out bonus shares and maintaining very high cash dividends. Tasek already have a track record of treating investors very well.

What about Narra, is it good? In the past, it hasn't beeen paying dividends and now It is trying to sell something that has a book value of 38 cents to investors for Rm2.35. Which one is better? Can't you tell the difference?

Tasek constantly pay out bonus shares and very high cash dividends every year since the KWEK bought over the company a few years back then. Investors love this stock because the payback is very high....To the paranoid who doesn't know this. I lot of things are so obvious but still a lot of people like to get into war of words, I don't.

Actually, I have bought quite a few HLIB shares that I want to sell out if prices were to shoot up! Thank you for your concern, good luck to you also, after all we are here to make money, but just becareful, don't let the sharks have a chance to put you in their stomacks!

Oh No, Of couse no! To be a good investor, you need to know a lot of things. Investment decision can only be make after considering Warren Way 2. How to choose deals. Buffett to the Wall Street Journal: “It’s like when you marry a girl. Is it her eyes? Her personality? It’s a whole bunch of things you can’t separate.”

This forum put out useful investment articles that I have found useful and myself benefited from reading those articles. My advise to you is to read these forum reqularly to gain more knowledge on investing. You still don't know you problem? Ha! After so long. You know what you sound like? You sound like an English teacher, arguing with people over what you said or what you didn't said. The point is everything you said is just Good English but they are in my opinion not financial insights and certainly not sound financial practices. The cause I believe is you still lack sound financial knowledge. That is why it appears to me that you regularly writes in Good English but you do not speak Good Financial Skills. Are you English teacher? If you want to because a Financial or good investor, please use the forum diligently. If you don't know financial skills, please learn it first!

TASEk IS MANAGED BY SINGAPOREANS, THE KWEK FROM SINGAPORE WHO HAPPENS TO ALSO OWNS CITY DEVELOPMENTS AND OTHER LISTED COMPANIES. THEY ARE MORE AGRESSIVE THAN THEIR MALAYSIAN RELATIVES. YOU SEE SHARE PERFORMANCE, TASEK ONLY SELLING CEMENT CAN GO UP TO RM15,6. LOOK AT HLIB, SELLING SO MANY CONSUMER PRODUCTS, MARKET PRICE STILL FOREVER LESS THAN RM7. KWEK AND QUEK, THE SINGAPOREANS VS. THE MALAYSIANS, HOW TO COMPARE? IT IS LIKE COMPARING SINGAPOREAN DOLLAR WITH THE MALAYSIAN RIGGIT. SO, DON'T COMPARE NARRA TO TASEK, IT IS NOT SINGAPORE, YOU SEE!

I am not against people who said everything using ifs in front so that they can go back on their words later on. It is just that I felt they are wasting my time and their own time. Very confusing to me. They come to the forum to say whatever they want to by placing a if in front of everything they said. Their teacher must have to taught them to do this. Be educational. Use facts, use information, can you do that or not!

Garfield, you hv a point there, everyone should do what they wish to when it comes to investing. Since this is about sharing, I will share with you my personal opinion, this is nothing personal. In my opinion, there are a lot of ways to do something: (1) Sometimes we use PE ratio or sometimes we use NTAV or sometimes other methods. It all depends on which method works best. (2) The best method is the safest method. As investors we should adopt the safest or most conservative method. As the US Guru (Warren) said the only way to make money is to avoid risk.

Nice talking to you all!

I don't know why the government like to make us feel like we are losers all our lives after all the faith we have given to Mas by holding on to its shares for so long. What happen, they continue to dissapoint us again and again. The offer price of RM0.27 is too low. It is good for the company (Khazanah comes to rescue them), good for Khazanah because they become the only owner, but the proposal is bad for the shareholders. Comma, I believe only 1% of the 30 % minority shareholders are making money. They are those who bought shares after the crises. However, we are not, we are investors who have faith in the government and we are the least to be taken care of in the end. In fact, we lost money, we lost money for believing in our government of the past. What should we do ? Yu guess, coming next time? To help us forget about the past! You think only Mas Union people can vote, for your information, the other people in the nation can also vote too !!!!

Your analysis: " If Narra price can be maintained at the present level, HLI holder's nett cost will be around RM2.30 (based on Narra's price of RM4.70). If the devidend is maintained at 25 cents would HLI price remains at RM7 after the ex date is announced? "

What can I say besides the fact that I like my analysis better than your analysis. At least, I tell people to avoid risks.

Your analysis to me is If......If......If........, this is like saying that if a dog is a cat, than a cat can marry a dog. Everything is Ifs, ifs, ifs, all the good for nothing ifs. If you want to come to forum talk please use more constructive gesture. If you want to sell shares, go somewhere else. I like this website because I think sometimes it is also educational and a place for people to share good informations.

Don't want your ifs, if , if , if, all you can say is if. Is that all only know?

Narra's net tangible asset value per share right now is only 38 cents per share and people are willing to pay RM 2.35 per share for it. So after the corporate exercise, its net asset value per share doubles to 76 cents per shares due to capital reductions (half the amount of shares are deleted or consolidated). My question is can we expect people willing to pay RM 4.70 per share for a share that only has a book value of 76 cents? Why do people want to pay such a premium price of RM4.70 for something that only carries a book value of 76 cents? Could somebody please tell me?

But I want to remind people, don't be the last guy to enter the market or purchase shares, the early birds catches the worms but the late guy gets nothing. I believe this to be always true according to nature's manifestations.

Narra's net tangible asset value per share right now is only 38 cents per share and people are willing to pay RM 2.35 per share for it. So after the corporate exercise, its net asset value per share doubles to 76 cents per shares due to capital reductions (half the amount of shares are deleted or consolidated). My question is can we expect people willing to pay RM 4.70 per share for a share that only has a book value of 76 cents? Why do people want to pay such a premium price of RM4.70 for something that only carries a book value of 76 cents? Could somebody please tell me?

But I want to remind people, don't be the last guy to enter the market, the early birds catches the worms but the late guy gets nothing. I believe this to be always true according to nature's manifestations.

I still have two questions:
(1) For Narra, you keep saying that market price of RM2.30 is the company's fair value. Do you know that Narra currently has a net tangible asset value (ntav) of 38 cents. After the capital reduction, the ntav = 38 cents *2 = 76 cents. I am the kind of person who doesn't like to pay RM2.30 per share for a company that only has a book value or accounting value of 78 cents per share.

The risk is just too high. That is why Benjamin Graham said investors should not buy a share when its market price > ntav by more than 50%. Narra share price become RM2.30 just because it is going to have a corporate exercise. Do you know that 2 or 3 years ago, Narra's share was only trading at 35 cents per share and even at that low price I had a hard time selling out my pre-bought shares?

(2) You are inflating the dividend payout too. They already paid out 15 cents on May 2014, the remaining dividends payout will only be 10 cents remaining (25 cents -15 cents).

(3) After the corporate exercise, ntav for HLIB will be lower than its current value of 4.11. I expect this value to fall around 4.11 - 1.08 =RM3.06/= per share. It is hard for me to accept the fact that a manufacturing company with ntav of RM3.06 per share and people willing to pay RM7/= per share for it.

It its also hard for me to except the fact that people would pay RM7/= for something that has a book value of around RM3/= and as for the dividends payout 25 cens/RM7*100=3.57%. The dividend payout is only 3.57 % at 25 cents per year. So, what is the big deal. A share that only has a dividend payout ratio of only 3.57% must surely sell for RM7/=. What kind of language are you saying???Do you know yourself? Let me know, are you Indian or Chinese?

If it has a fair value of RM8.57 its current market share price would already have become RM8.57. The problem with the RHB report is : it is prepared by professional people. The RHB's report only tell investors that the value of HLID will be accredative or accumulative. They failed to mention when the value of HLID will accumulate from how much and for how long so that the ocmpany's value can reach RM8.57. They are professional people, you see what I mean, they tell you some day the value will be RM8.57 by accumulation over time! Yu think shareholders are idots or what!

The Mas share buy-back price at RM0.27 is too low. This is not the way to treat Malaysians by Malaysians. The price is just too low, it will make people to think that everything in Malaysia is buruh! See, even an airline share also sell at lelong price. Why a pity! The leader talk like we are a fair nation but I just don't see in this country.

Dividend almost equal to banks' fixed deposit. I think management does not understand that fixed deposit interest rate is risk-free interest rate. How can a company pay such low dividend that is almost equal to the market risk-free interest rate. THe company should re-evaluate the dividend policy. Everything go up in prices in Penang, but the dividend policy still stay the same for the last 5 years. How can this be fair to the shareholders! Maybe we should support UMNO next time.

If you want to make money, you have to buy a share at cheap price. I do not understand why you can not accept this notion. Maybe you are not trying to make money from buying low. I believe you are just trying to profit from selling out high. Well, everybody is waiting to sell out. Even my uncles had shares that he purchased years ago for RM2.50 per share is now willing to sell out if the price goes to RM7.50. My prediction is you are trying to get people to buy shares so that you can sell out. Am I right?

Cowboy, AS a buyer or a seller, I don't know which side you are on ? If you are the buyer, you want to try to pay the seller a market price that is as close as to its net tangible asset per share (book value)!!!!!!! Of course, if you are the seller, you want to use PE ratio to try to convince your buyer what you are selling is of good quality and you deserve a premium for what you are selling (fair market PE ratio is 15).

For a buyer or seller, the use of PE implies differently. For the seller, they use PE ratio to ask for a premium price, but the buyer can use the PE ratio to check how risky is the purchase.

Bear it in mind, to the buyer, the PE ratio is only a way for you to guage whether the company is currently financially healthy or not. A PE ratio of 15 or below implies that a company relative to the current market price is risk-free (send a green light to buy). A good deal is however to buy a company that has a PE ratio of around 12 since 15 is fair value. AS a buyer, you want to buy at a price not more than 10 % of nta or the book value of an asset to realize a profit (This is warren Buffett's way of doing thing).

Most Importantly, HLI's net tangible asset value now is RM4.11 per share. If you apply the Warren Buffet way, the fair price of HLI is RM4.50 per share (RM4.11*1.10).

As for Narra, its business value is zero because it hasn't been able to turn in a substantial profit in the past 5 years.

Ya CB! You are right! Words speaker louder than actions. I see this counter looking like it is half dead already. Are you trying to get people to rush in so that you can get out of this counter? We are all adults, we already know how to take care of ourselves.

The company must try to increase net profit annually just like humans have to keep improving every year in order to live better. Hopefully, we see moderate improvement every year. This is also a sign that the DAP is able to govern the people.

Tension is brewing between Russia and the other superpowers over Ukraine. Market or investors are skittish today.

We must think outside the box. At a time like this, when there is a lot of uncertainty, you want to keep Aeon shares instead of some other counter because Aeon's success is more predictable: it has no debts, largest shopping chain in malaysia, and pay dividends year after year. I do not understand what is on EPF's mind, I don't know why those people at the gov house keep on selling Aeon's shares. I know there are kind of worried about Malaysia's conditions: high households debts, above normal inflation, sub-par economic development. The more worried they are, they should hold on to Aean's shares. LIke I said, Aeon's success is much easier to predict.

Actually, Narra will have to issue the whole of 448 million shares to acquire new businesses and capital restructuring of 62 million/2=31 million shares. Narra will have new share capital of 479 million shares. If net profit is going to be just RM50 million for FY14, it does not justified your prediction of a price of >RM5.

John Cash, I have a question for you. If as you said, Hume cement is expected to register net profit of RM50 million for FY14 and Narra after the restructuring is going to become a roughly RM379 million shares of par value 1 dollar company ( capital reduction 62milion/2=31 million + new shares to issue to HLI = 348 million) , the mathematics will tell you that than means Narra will make only about 13 cent per share. My question is how can a company that makes 50 million/379 million=13 cent per share be expected to register a market price of >RM5 per share. Do you know mathematics?

pputeh, my focus was not the par value of the share, be it 10 cent or 50 cent. The point I am making across is before the share bonus and splits, net asset value per share is 4.68 per share. Right now it should be around 1.17 per share because number of shares grew by 4 times. For a share that has net asset value of 1.17 and trading at over 4 dollars to me is something quite expensive.

Eric,
(1) Warren Buffet doesn't use a calculator, he doesn't like to depend on people and machines to tell him what to do. There is no need to calculate intrinsic value. Actually, intrinsic value is society value. What is the value of a company to the society. The more people must surely depend on the company to maintain life, the better the chance for the company to do well. You don't need to calculate intrinsic value, you just use thinking. For example, if a company is a low cost producer and is selling a must-have items, then its intrinsic value is very high.
(2) PE ratio of 15 implies good behavior on the part of investors. Don't want to buy stocks with very high PE ratio is investors own responsilities. Have you heard of "Buyers Be Aware"?
(3) You only need to look for 2 things according to Warren Buffett's investment style: that is high intrinsic value+low pe ratio.

Since Warren Buffet doesn't calculate intrinsic values like everyone else, that is why pe ratio is very important for his kind of investment. get it!

They may want to be nice to employees before declaring bankruptcy. They probably wanted to be nice just before sending them out of work.

Extremely high PE ratio of 24.19. You can call the share price at RM3.99 or more a bluff. Wal-Mart, largest retailer in the world, now at US$74.78 per share only carries a PE ratio of 15.44 according to US Yahoo Finance. Furthermore, the bonus and share splits have splits the shares into par value of 10 cent per share. This means net asset per share is 4.68/4=RM 1.17 and last year profit is 65.8/4=16.45 cents per share. We Malaysians shouldn't call ourselves investors if we have to pay RM4/= for a company that has nta of RM1.17 and eps of 16.45 cents. Isn't it over expensive according to Malaysia or US standard. Sometimes Japanese are hard to understand.