Newton's Law of Gravitation. Everything that goes up must come down.
IFCA can go up from 7 sen, it should be able to come down to 3 sen......

IFCA lain, naik harga dari 7 sen sampai 1.86, turun sikit pun tak apa.
Kalau ikut trend FGV, IFCA patut 3 sen sahaja.....

Malu betul. Keuntugan perpuluhan satu sen setiap saham untuk tiga bulan. Maksudnya satu ribu saham buat satu ringgit.
Kalau setiap saham harga 2 ringgit, satu ribu saham 2 ribu ringgit. Simpan dalam FD faedah dapat 72 ringgit setahun. 3 bulan dapat 18 ringgit. Apa guna beli FGV kalau hanya untung satu ringgit sahaja. Lagi baik simpan FD, tak akan kalah dalam harga saham dan boleh untung 18 kali ganda.

Yes. To predict good company to be as good in 3 years down the road may be difficult, but to foresee a company won't be performing for next three years may not be that hard.

One glaring example is companies belong to William Cheng are all holland stock.
A very simple case study is Lion Industries (LICB) merely based on annual report for FYE 2014 already tell a story.



Stock: [LIONIND]: LION INDUSTRIES CORPORATION

Extract from Annual Report LCIB FYE 2014

RECURRENT RELATED PARTY TRANSACTIONS
The aggregate value of transactions conducted during the financial year ended 30 June 2014 were as follows:

Sale of scrap iron, steel bars, wire rods, hot briquetted iron, billets and other related products to:
1. Lion Corporation Berhad Group (“LCB Group”) 650,661,000
2. Lion Diversified Holdings Berhad Group 59,672,000


Trade receivables The Group 2014
Non-Current Trade receivables 644,217,000
Less: Accumulated impairment losses (294,332,000)
Net 349,885,000

Current
Trade receivables 344,514,000
Less: Accumulated impairment losses (23,170,000)
Net 321,344,000

Net trade receivables 671,229,000



Trade receivables from related party as of 30 June 2014,
Megasteel 562,732,000
Lion DRI 81,485,000
Total 644,217,000

Past due but not yet impaired:
Megasteel 298,164,000
Lion DRI 40,532,000
Total 338,696,000




So how much should be written off for FYE Jun 2015, take into consideration Lion Corp business has deteriorating much faster than 2014. Megasteel is a subsidiary of Lion Corp.
Goodwill (130,443,000) has been allocated to the steel operations of the Group and has not been impaired. Why not impaired?

Should consider LICB only after 7 Jul 2015 when Lion Corp get delisted.
Worst case scenario appear only after 4Q report in Sept 2015.

Suffice to say, buy stocks based on FA will be a good defense at the current investing environment, taking into consideration:-

1. Local political instability, 1MDB and PFI issues, depreciating ringgit, low oil price, inflation, impending toll hike, housing glut, potential interest rate hike....

2. Greece financial crisis, Greek default, Grexit, ramification on Grexit...

3. Effect of FED rate hike on Malaysia (may be Jun, Sept or later, but is definite).

4. Market prophecies:
4.1 World market crash 2015 - Jim Rickards https://www.youtube.com/watch?v=Le73sWDlhz4
4.2 Warning: Stocks Will Collapse by 50% http://www.moneynews.com/MKTNewsIntl/stock-market-crash-warren-buffett-indicator/2014/10/03/id/598461/?dkt_nbr=ufos34vz&utm_source=taboola&utm_medium=referral


I opine FA give you line of defense, so you know at what price constitute good buy.
TA provide you action plan, when to become 'offensive', or take necessary action.

勇者 创造机会
智者 把握机会
愚者 找不到机会 喪失机会
絕望者 永遠沒有机会

Iskandar is a different story altogether. Ringgit depreciates against major currencies will not benefit Malaysian as a whole, but depreciates against Sing dollar is making Nusajaya to be Shenzhen and Tg Langsat/Pasir Gudang/Kong Kong area to be Dong Guan in shorter time. Speed up the development of Johor to be the first developed state rival Selangor and Penang.

Why? Singapore government encourages manufacturing/backroom service/logistic services to Nusajaya because of proximity and convenience to commute between Nusajaya and Singapore. Jurong used to be industrial hub for Singapore in 70's and 80's, now pushed towards Tuas, and if possible, to Nusajaya. Just find out how Chinese government forced the manufacturing industries to the interior (or western part) of China. More jobs created, more housing is required to house the workers and their families.

In NCIP more than 50% industries are owned by Singaporean right now. Ascendas is under Temasek, tenants and perspective owners have to be vetted. Land price for Ascendas is even higher than NCIP. SiLC can also provide more alternative for lesser tech based industries.

For heavy industries, Tg Langsat/Kong Kong area can provide almost unlimited industrial land.

What are you waiting for???????
Can you see the opportunity?
勇者 创造机会
智者 把握机会
愚者 找不到机会 喪失机会
絕望者 永遠沒有机会

The International Monetary Fund has announced that its negotiating team in Brussels is heading home!

Greece defaulted on debt payment on 5 Jun, to be followed by 30 Jun, then go bankrupt straight away.

So what do you expect European market to perform tonight? Will it further make Bursa heading south at faster rate????

Be prepared! Get your money ready to strike..........

Ringgit depreciates is good for companies having big landbank in Nusajaya especially industrial land. Singapore government is forcing labour intensive industries to relocate to Malaysia just like what China doing forcing those industries to move from Dong Guan to interior like ZhongJin and ChengDu.

My stock picks are Crescendo and UEMS for industrial land, E&O and Plenitude for landed properties. Also worth considering is Mulpha International for its Leisure Farm.....

Who paid the loan? 1 MDB has no money.....

Most important thing to invest in stock market is to make money.
If you think TA alone can ensure you make fast money. Go ahead.
If you think FA alone can ensure you make money over long term. Go ahead.
If you think TA/FA can make money. Go ahead.
If you think you are more comfortable FA/TA. Go ahead.

JUST MAKE SURE YOU WON'T LOSE MONEY.
OR
AT LEAST MAKE MONEY 9 OUT OF 10 COUNTERS YOU BUY

CAGR
61.41% (Land - short term frenzyl)
8.14% (Property capital appreciation)
9.75% (Plantation capital appreciation)
17.79% (Land - long term)
9.65% (Property Total Return)
10.61% (Plantation Total Return)
15%+ (Equity)
Unlimited (Business)

I choose to park some (not all, no guts) in property counters having more land bank (that must be cheap) in Nusajaya, Penang Island and KL. Why should I bother whether these companies making less for next few years, as long as they won't go burst. Land appreciation should cover inflation and preserve buying power of your ringgit.
Any dividend is bonus.......

Greece has told the International Monetary Fund (IMF) it will delay a key debt payment that was due on Friday and bundle all four of its June payments together and pay them at the end of the month.
The announcement came as Alexis Tsipras, the Greek prime minister, also demanded changes to tough terms from the country's international creditors.
The IMF said on Thursday that Greece had informed the global lender that it planned to bundle four payments due in June - including the 300 million euros ($338m) payable on Friday - into a single 1.6 billion euro ($1.8bn) lump sum, which is now due on June 30.
"The Greek authorities have informed the fund today that they plan to bundle the country's four June payments into one, which is now due on June 30," Gerry Rice, IMF spokesperson, said, citing rules allowing debtor countries to regroup "multiple principal payments falling due in a calendar month".
The move comes at a critical time for Greece and its IMF, European Union and European Central Bank creditors, as they push for a breakthrough in four-month negotiations to unlock 7.2 billion euros ($8.12bn) in rescue funds Greece desperately needs to honour debt payments.




If you owe bank and payment due on 5 Jun, can you just tell the bank I want to bundle all my loan repayments (house, car, credit card, personal loan, study loan etc) to the end of the month? Payment due but not paid constitute default. Default on 5 Jun should cross default and all loan will be become immediately due.

So, this is actually happening in European market right now. How Malaysian market going to be affected, in the midst of 1 MDB scandal.

###Setelah 2 jam menunggu.. Najib Razak membuat keputusan untuk tidak hadir dan membatalkan program "Nothing to Hide"... Kini Tun Mahathir telah memulakan ucapan...###

Setelah 2 jam menunggu.. Najib Razak membuat keputusan untuk tidak hadir dan membatalkan program "Nothing to Hide"... Kini Tun Mahathir telah memulakan ucapan...

Setelah 2 jam menunggu.. Najib Razak membuat keputusan untuk tidak hadir dan membatalkan program "Nothing to Hide"... Kini Tun Mahathir telah memulakan ucapan...

Parkson is the most valuable asset of LICB. Now Parkson dyke breached, LICB will submerge under sunami.

What did Rancangan Malaysia Ke Sepuluh (RM10) stipulate?
Growth to be spear-headed by investment from private sector.
What did 1 MDB do? Nationalized IPPs which were already with private investments.
Did it contradict its own planning?
Or all the plannings were just for show syoh-syoh sendiri?

B'cos of 42 billion 1 MDB debt, ringgit breached 2.76 to 1 Sing dollar, 5.7 to a GBP, 3.72 to a USD, 60 sen to a RMB.
What else I can say?
See USD at 4.0, Sing dollar at 3.0, GBP at 6.5, RMB at 70 sen before 31 Dec 2015.
So, how are you to self-help???
Crying die lah - die lah won't save you from this peril.
Be prepared for worse to come............

B'cos of 42 billion 1 MDB debt, ringgit breached 2.76 to 1 Sing dollar, 5.7 to a GBP, 3.72 to a USD, 60 sen to a RMB.
What else I can say?
See USD at 4.0, Sing dollar at 3.0, GBP at 6.5, RMB at 70 sen before 31 Dec 2015.
So, how are you to self-help???
Crying die lah - die lah won't save you from this peril.
Be prepared for worse to come............

Hold call by broker means sell for retail investor.
With TP becoming lower and lower each time result is out, the broker still ask you to hold.
Next TP will be 30 sen and still recommend you to hold. 不惊你死

Arul Kanda still in Malaysia? How come he did not appear before PAC?

Anybody has idea how creative accounting works? Here is one good example creative accounting being practice to the highest order.

What is creative accounting? Find out from wikipedia......

I have no confident in Chen Lip Keong.

For a company with 7 billions share outstanding, revenue is 50m and come with 44m losses.
What is the ratio revenue per million shares?
What is the ratio loss per million turn-over?
I believe my maths is too poor to make such a calculation........

I just wonder whether Margin Of Safety fluctuates with market sentiment. I pray KC Loh can enlighten us. If he can suggest entry price at 4.60, with 15% "Margin of Safety", intrinsic value for FGV should be 5.29...................




Posted by KC Loh > Jul 4, 2012 12:08 AM | Report Abuse

Hi Namo, to a value investor, we require what we call a margin of safety. I got the prospectus two days ago, studied the value to buy the stock and arrive at about 4.60 after discounting the price (that is my entry level). This was suppose to help the newbies if they are not able to calculate the pricing. I am seeing some of the people here queuing at 5.50 and to me this is simply irrational (to a value investor at least). They are putting more money to chase higher price. The higher price theory may still happen, owing to the current feel good factor, but I think its just a warning at best for the punters to be careful. There are caveats as usual because, since FGV is new, there are no track records to refer to. In my case, i am just using a time tested discount of 15% although i am not too familiar with palm oil/plantation business model in the first place. Hence you see delays from the research houses to scramble for a figure and even TP. I dunno how Macquarrie got their valuation, but lets leave that for another day owing to the flaming i see getting from the rest of the people here.

all said and done, now i kinda understand why the private placements for institutional investors now were offered at 4.55 to ensure its good take up. and when Dreyfus decided not to take their stake, it was snapped up immediately. The upside is certainly attractive as show in the premium obtained on the first day of trading. 4.55 to 5.32 (today reached 5.46) is indeed a good margin of safety and they could be looking at holding at long term.

to the bro who was laughing why i was still gleaning the prospectus, i do wonder how he gets his numbers and valuation from. No, i am not being cynical but I aim to learn. Maybe something that may have escaped this simple minded investor :). Like i said, i am to contribute to this community too! I am not holding any share of FGV at the moment FYI :)

Malu betul. Keuntugan perpuluhan satu sen setiap saham untuk tiga bulan. Maksudnya satu ribu saham buat satu ringgit.
Kalau setiap saham harga 2 ringgit, satu ribu saham 2 ribu ringgit. Simpan dalam FD faedah dapat 72 ringgit setahun. 3 bulan dapat 18 ringgit. Apa guna beli FGV kalau hanya untung satu ringgit sahaja. Lagi baik simpan FD, tak akan kalah dalam harga saham dan boleh untung 18 kali ganda.

The terms units is really versatile.
If you wish, you can let it be USD.
If you wish, you can let it be RMB.
If you wish, you can let it be Sing dollar.
If you wish, you can let it be Aussie dollar.
If you wish, you can let it be Sterling pounds.
If you wish, you can let it be Thai Baht.
If you wish, you can let it be Philippine peso.
If you wish, you can let it be Indon Rupiah.

Of course, you also can keep 1MDB units..........

So Bursa Malaysia is now facing premature crash.
Should we keep more units now?

Yes, he is just a beginner, with only five years experiences in KLSE. So, please BEAR with him. The chance he lose is higher than the chance he make. Don't believe, just ask him how much he make (or lose) in May, in April, Mac, Feb and Jan. Whether he make (or break) from Jan to date.

He should have keep quiet and learn sufficient skill before giving public classes.
Pass his CFA first, that will at least give him a credential on paper........
Mere BSc is grossly under qualified to bluff his way through.........

MRCB already found a goldmine in MRCB-Quill Reits.

Nasi basi. Goreng lagi pun basi. Tak akan nasi basi lepas goreng sesuai dimakan oleh seorang manusia.

Orang pun sudah tua tak perlu buat lebih banyak duit lagi. Apa lagi mahu buat duit dari manusia yang perlu hidup berpuluh-puluh tahun lagi...........Tak malu kah???????

MRCB-Quill is the ATM for MRCB.
MRCB no cash flow, just pump one building to MQ at above market price, problem solved.
Still need money, pump another building.
Again need money, still got RRIM land ma. Just pump in.
All the money is recurrent. Won't stop flowing ..........o.....o.......

What's wrong holding big landbank in Nusajaya? If Malaysian side (Federal Govt and Johor State Govt) is sincere enough to work closely with Singapore in terms of land use, transportation and traffic, immigration and custom, Nusajaya can be Shenzhen, Tg Langsat/Pasir Gudang/Kongkong area can be Tong Guan in next 10-15 years.

I believe he has done enough to promote these stocks that he owns. Don't hard sell any more please. He is really making everybody sick.

You must be joking to put up such an analyst report. Increase in revenue is on existing properties excluding PS. Dividend 1.88 sen already paid earlier before new units were issued. With balance 0.201 sen being the "goodwill" given to boost Q2 distribution for the new owner.


KAF Investment Bank Berhad
Independent Advice Circular
25 February 2015
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1883793

## The Proposed Acquisition is expected to dilute the average gross rate of return and average net rate of return of QCT as the gross rate of return on the Property of 6.64% and net rate of return of 5.46%, based on its recurring revenue and recurring net property income as at 31 December 2013, are lower than the average gross rate of return of QCT of 8.35% and average net rate of return of QCT of 6.44%, based on QCT’s revenue and net property income as at 31 December 2013, respectively.
The aggregate cost of debt funding and required rate of return on equity for the Proposed Acquisition is higher than the return in which the Property generates, which could imply a negative return to the non-interested Unitholders in respect of the
Proposed Acquisition. ##

Who say PS acquisition is earning accretive. Bullshit. Transaction is not done at arms length. QCT has become an ATM for interested parties.

Maybank IB for past 4 days bought 188.5m.
It needs to buy a further 40m to complete its obligation.
Likely to conclude tomorrow, or latest by Friday.
So Monday is the guessing game for all...........

Malakoff - Steady Business Model
Source : PUBLIC BANK
Date: 18/05/2015
http://klse.i3investor.com/servlets/ptres/30083.jsp


What is your expected EPS for FY 2015, 2016 and 2017?
What is your expected dividend per share for FY 2015, 2016 and 2017?
What is the rational you give TP @ 2.18? Based on EPS for FY 2015? Or is it projected EPS for 2016 and 2017?

Just using total dividend paid out for FY 2014 as basis, do you think DPS can be 10 to 12 sen for FY 2015?
Or do you suggest investor pay present money to get future value for 2016/2017? Too many presumptions (risk factors) and any one of them can go wrong.

Malakoff - Steady Business Model
Source : PUBLIC BANK
Date: 18/05/2015
http://klse.i3investor.com/servlets/ptres/30083.jsp


What is your expected EPS for FY 2015, 2016 and 2017?
What is your expected dividend per share for FY 2015, 2016 and 2017?
What is the rational you give TP @ 2.18? Based on EPS for FY 2015? Or is it projected EPS for 2016 and 2017?

Just using total dividend paid out for FY 2014 as basis, do you think DPS can be 10 to 12 sen for FY 2015?
Or do you suggest investor pay present money to get future value for 2016/2017? Too many presumptions (risk factors) and any one of them can go wrong.

Whoever think Malakof is a good buy at 1.76, please go ahead.
Don't buy you regret, buy you be a dead hero.
We would pay last respect to our fallen hero.

Everyone is entitle to his opinion. He will responsible to his own action.
If you buy and make money, no one going to ask for a penny from you.
If you lose, please don't blame on others.
Let's be a man..............

BUDAK-BUDAK BARU PERGI KE SEKOLAH........

I kena tunggu Maybank IB habis beli 228m atau lepas 18 Jun baru berani.
Mungkin 1.48, mungkin lagi murah. Saya tak mahu rugi dalam kaunter ini......

kakisaham -- I agree with you.
Ini kaunter macam FGV

Good to play safe. If 50-50, why not just wait till 18 Jun. Remember par value is 10 sen. No doubt par value carry little meaning in normal trade, but when it come to give right issue/ warrant, any price above 10 sen is considered legitimate.

I need not be reminded. I will play safe in most counters I buy in, moreover I am very much more experience than you do. TQ for concern.
###想提醒：你我只是普通人，对里面公司政策@运作@方针不清楚。###

That is to say things are not done in good faith !!

Not later than 18 Jun or when it has purchased up to 228m, which ever come first.
So 18 Jun is the last day for you to sell before its share price crashes.

Want to make a thorough investigation into fraud and witch finding?
Who are the investigators? Are they independent? Who appoint them?
What is the extent of power given to them? Scope of reference? Criminal investigation? Forensic auditing? Are they given power to search and make arrest? Or just ordinary auditors asking for cooperation from the present directors holding the office right now?
Who are these investigators report to? BOD? AG? Govt(cabinet)? Parliament? Agong?
Who is the paymaster?
Can they do it without fear and favor?
Is their personal safety (and their family) safeguard?

Only come with a new head (Chairperson?), all old heads will roll. It always repeat itself in animal kingdom. When new lion king is born, old lion king must die.

Forget about Malakoff, and for the same reasoning, forget about those IPO with stabilizing managers. Up a bit, they sell, down a bit, they have to buy. After one month, the price will just purging non stop. How to make money???????

1M SHARE TRANSACTED EQUAL 70K AND YOU HAVE TO DO IT FOR ONE WHOLE DAY.......
I PREFER TO SLEEP MAN......

Are you having practical experience in forensic auditing?
Creative accounting just bending the laws, money laundering is breaking the law.
Many advisors/consultants to IPO practice creative accounting to the highest order.
So you will see company after listing will have deteriorating performance.

Creative accounting ma....

If it is just a simple problem of receivables, special audit team need 6 weeks to do the job?
How many members are in this special audit team?

Having reasons to believe:-
1. Multi-layering similar to money laundering is involved.
2. Account has to trace back for last few FYE to check on dubious revenue/ profit/ inventories.
3. Account could involve many "trading partners" in different countries -- a typical money laundering operation.

With all the uncertainty. Public Invest Research still maintain buy with TP 1.12
###The trading of Malaysia Steel Works (Masteel)'s shares will be suspended effective today until further notice, triggered primarily by its delay in the audit completion of its FY14 financial statements and the release of audited financial report for FY14. Pending the outcome of the audit results, we maintain our call and target price.###

Really a research house with no integrity/code of ethic. Should THP please look at you IB???????