Oh now you've just extended your time horizon for another 8 to 11 months and then claim how smart you have been when there are any price fluctuations or any mishap down the road? Standard tactics. The way I see it, if you can't share any info here, it's complete bollocks.

@chc222, when someone says sell without giving a reason, should we ask why? And if that person comes again and again saying the same thing without reason and refuse to explain why, and even digress to comment negatively of people, should we call them out for it?

Unfortunately, you still can't answer a simple question on why you are calling a sell. And why would people even want to curse me? I have consistently said that I am waiting to buy even more at RM1.00 if it ever reaches there, since more than a month ago, and gave the reasons. Too bad for me that it did not reach there, but is instead hovering up and down for people to trade. And most of my comments were clarifying wrong facts. Again, you are trying to mislead others.

Still same old responses, disgusting intent to mislead people. Already proven, and agreed by others here to join the ranks of bad people with ill intentions, yet continues to try.

@Beary, people like you always say the same thing, 'only trying to prevent people'. But the fact is, there were no reasoning attached to those one liner meaningless sell calls or smear talk. And when I ask people like you WHY sell, and please give some SIMPLE EXPLANATION, most of the time no answer comes, and it digresses into personal insults in an attempt to act relevant.

@DontPipemyPimp, I have not studied EG's financials. But I know that RHB's TP is RM1.20. I suggest that you give it a serious look, as it seems like a good investment and share price growth may be faster than VS because it comes from a lower base, and VS is currently facing some negative sentiment. However, in my opinion VS has a more solid business and track record.

@Beary it seems your daily posts are limited to illogical one liner sell comments that carry no meaning (refused to clarify when asked), and criticizing others on a personal level. It is a clear intention to mislead, as I have reiterated and proven in the past.

I've proven to a couple of people here that people like you and @Earth have ill intentions and spill illogical statements all the time, and they shouldn't be perturbed. Unsurprisingly, they've agreed. I have also proven that @Banglala was out to mislead people. But at least he owned up to it and said he was part of a syndicate, and misleading was part of his job.

I have also provided factual clarifications to clear people's misconceptions, ranging from the business (e.g. hng33's smear campaign on new coffee machine model), to ex-bonus cost price of their shares, to logical questions on competition. Unsurprisingly, some thanked me for the factual clarifications.

We can again see @hng33's reappearance today about himself profiting from a trade, despite his previous failed smear campaign that I busted, clearly proving the bad intentions of people like you.

@Beary, Argument? Wow, that's a praise. There was nothing to argue about between us, because you did not provide any meaningful statements to argue about. Your posts are all one liner sell comments that carry no logic or justification, and also criticisms on people.

And me cursing and swearing? The only not so nice words I used, if my memory can still serve me well, would be related to 'fart-o-meter', 'corpse', 'bag-of-shit', maybe very antiquated terms. These words adequately reflect the nature of any meaningless one liner comments with zero logic, and frequent ill words about other people.

We all know i3investor has no moderator, otherwise all senseless comments would be cleared by now. Let's hope their team grows faster, and then 'rotting corpses' inside the boards can be rid of. Intentions are so clear, you are among one of the many ill speakers here. Including @Earth, who automatically deletes all his own comments when they breach the 'too-stupid' meter.

Again, let me copy and paste a simple logical question regarding your own statements, something which you have ignored many times.

21/04/2016 13:11 loveygramps @Beary, unfortunately, you're again twisting to mislead people.

Since you're implying that VS is not a long term investment, the only natural questions to you are:

(1) Why do you say so, and based on what facts? and
(2) Which company that has seen revenue & profit growth of more than 10% p.a. consistently in the last 2-3 years (or even 5, if you wish), but did not see a corresponding increase in share price?

Or are you going to twist further and as usual, be as silent as a mouse when it comes to simple questions like these?

Says the person who cannot provide simple clarification or elaboration about his previously meaningless one liner comments yet want to continue commenting negatively about people. Intentions are clear, entirely ill.

The irresponsible scammer @Beary since March until now cannot give simple clarification about his own daily one liner meaningless sell comments, but still writing worthless comments speaking ill of people here everyday.

Going to twist further as usual, and the be silent as usual when it comes to simple questions about his own comments.

Quotes below for reference.

--
19/04/2016 16:22 loveygramps @Beary, alright, so let's get straight to the point. Are you calling for a sell? Why? What's the fair value then? Why? And based on what fundamentals You have not answered any of these. Any responsible writer will justify the reasons properly.

21/04/2016 13:11 loveygramps @Beary, unfortunately, you're again twisting to mislead people. Since you're implying that VS is not a long term investment, the only natural questions to you are:
(1) Why do you say so, and based on what facts? and (2) Which company that has seen revenue & profit growth of more than 10% p.a. consistently in the last 2-3 years (or even 5, if you wish), but did not see a corresponding increase in share price? Or are you going to twist further and as usual, be as silent as a mouse when it comes to simple questions like these?

@Lee Guan Hong, my next nearest TP is RM1.32 (+6% from 1.25 or +15% from the earlier support 1.15 or +22% from the intraday low of 1.08 recently if anyone dared to pick up then). This is based on PE 11x FY16F NP RM140m (profit discounted from consensus) and 1170m shares.

PE 11x is conservative, slight discount to RHB's 11.4x for competitor SKP. Note that RHB is the most conservative among all IBs for SKP, while other IBs attach much higher rating. RHB is also giving 11x PE for VS. Also note that VS has less customer concentration risk in comparison to SKP.

After this personal TP is reached, we will have to see VS quarter results, and market sentiment.

Maybe a rerating is necessary, or sell because there is a better opportunity, or even hold for another year if profit is expected to grow even faster?

We never know if today's price uptrend will be short lived, or even make a reversal. I just sit and hold. Patience is virtue, after all I am earning near to 4% dividend. I could have locked in profit today from my last top up at 1.16 (+8%), but I see no point in doing that.

@Lee Guan Hong, the current price is fair for a large and profitable company like VS.

But we do not know what is going on with the price and sentiment, who is dumping and who is supporting. It is indeed strange that it has been hovering at this level for so long.

Maybe @Banglala can give some opinion since he is back from holiday and probably getting to work?

Anyway to answer you, 90 sen should be the bare minimum, as you enjoy best of both worlds of high dividend (5%) and low PE (8x FY16F) of a world top 30 and growing EMS company. But can you ever get it at 90 sen?

As the sages say, if you cannot stomach a wild swing in price, do not dive in. Also, always reserve enough liquidity to make more money, not get stuck in one stock.

My last top up was 1.16 and I saw it go down to 1.08, and also up to 1.28. Did I buy or sell either way? No. I am still holding today. And my next top up will be 1.00 if it ever reaches there. And after that, maybe sell some when it rebounds to 1.20 to hold more cash.

Also, diversify, but not too much, as you'd want to maintain the ability to know the businesses and stock price movement well enough to make good judgements.

@limayseng, let me repeat, i3investor is a place to discuss business, financials, stock price, and valuations. It is also a place for "sharing ideas" and "constructive views", two terms which you have brought up earlier. Seems like you are not following your own advice? That's strange.

I guess you are a Malaysian? Very shameful that you have such low standards. My proficiency of the Malay language is not so good but I know two words: jatuh maruah.

This is my last reply to you, as I guess you know nothing more than only to throw around words like "hind side" (aka buttocks), "trust", "confidence", "Buffett". Also, you can't answer simple questions regarding your own statements, don't follow your own advice on "constructive views", and have now even progressed (regressed/degraded?) to personal insults.

Don't worry, I will still be on this Scientex page, answering genuine investor queries and engage in intelligent discussions, just like on some of the other stock pages where people are thanking me for my views and info. I'm just not answering you and all your trash talk with zero civility.

--
limayseng 多講都没用，聽不进去！真是废話连连！
20/04/2016 13:22

limayseng Give me 10 reasons why should share with you?
Still waiting..........
20/04/2016 13:24

limayseng 放屁
20/04/2016 15:01

limayseng @loveygrampssssssssssssss aka , give your full name in i3 and not hiding behind lovey prandpa or grandma ...or whatever names quoted. This is not your grandpa website n not to be bossy around like u r damn bloody good here! Go somewherelah...tak'kan tak faham ? Sombong , bongkak dan biadap is my words for u aka lovey.......
21/04/2016 09:51

@yeohhh, that is too large a praise, I cannot accept. I can only wish to be a VS director, with so good annual remuneration. Please reserve this praise for @cwingz, I am sure he knows some of the numbers much better, as I usually only have time to look on the surface.

@mcchuah thank you. Have you read my earlier response to @littlelolita? Hope you find that useful. However, don't take my comments at face value, feel free to always challenge my ideas with your own knowledge and fact searching, we can learn and progress together.

HAHAHA that scammer @Earth deleted all his comments AGAIN, and went into hibernation AGAIN after it was all proven wrong AGAIN. I have previously accurately predicted his shameless reappearance, and let me say this again, he will be back with more trash posting once VS drops another 1 or 2 sen, but NOT when it goes up by 1 or 2 sen.

@Earth, ALL export counters are up? Really? Who are you trying to mislead now?

Let me try to find some prominent export names for each sector, just by random:

EMS - Inari (-3.4%), Unisem (-1.3%), MPI (-0.84%), VS (-0.81%), SKP 0%, Aemulus 0%
Food - Kawan (-1.18%), OFI (-1.25%)
Furniture - Homeriz +0.57%, Latitude (-0.36%), Pohuat +2.72%,
Latex - Karex +0.77%, Supermax (-1.79%)
Metals - Tong Herr (-1.93%), Chinwell (-0.61%)
Palm oil - Bplant 0%, Sime +0.38%, Kulim 0%, Hap Seng 0%
Plastics - Daiboci 0%, Tguan (-1.6%), Tomypak 0%
--
Earth 21/04/2016 12:45 Then tell me why VS is still down while all export counters are up now?

@KGunasegran, last TP (not updated) is RM1.46. After that, will have to calculate again.

@Beary, unfortunately, you're again twisting to mislead people.

Since you're implying that VS is not a long term investment, the only natural questions to you are:

(1) Why do you say so, and based on what facts? and

(2) Which company that has seen revenue & profit growth of more than 10% p.a. consistently in the last 2-3 years (or even 5, if you wish), but did not see a corresponding increase in share price?

Or are you going to twist further and as usual, be as silent as a mouse when it comes to simple questions like these?

@dennispoon @cwingz glad you enjoyed.

@Beary, well, if you're so smart, show me a company that has grown >10% p.a. in revenue and profit consistently for the past 2-3 years but did not see a corresponding increase in share price. I would like to consider buying it. Or are you going to be as silent as a mouse again?

Thumbs up. Congrats all. If it goes up further, decent raya money eh?

@littlelolita let me give you a fresh perspective.

VS is consistently ranked in the world top 20-40 in terms of revenue for many years, at least since 2010 (I do not have info earlier than that). Their modus operandi is to be an outsourced manufacturing partner for more expensive consumer electronic brands in the world.

Their ability to steadily secure big names like Dyson, Keurig, Zodiac is their track record. Of course, they also serve various other less glamorous brands in their portfolio.

VS also has manufacturing plants in Indonesia and China, whose population size are about 10x and 45x larger than Malaysia respectively. These plants were loss making in recent years, but have in the most recent quarter made a turnaround! Exciting times ahead isn't it?

In the recent analyst reports, it seems like VS is in deep discussion with potential new customers which are also important brands. As a shareholder of the business, we cannot say with certainty, but we can only hope that VS can get more brands under its portfolio to grow revenue even more.

Back to your question on Dyson's venture into Philippines. To be fair, we do not know what plant it is. Is it because they see a large market in Philippines and want to invest in local manufacturers? Do you know what type of production, processes, and product type? Does VS even do these type of processes? Do VS products even go to the Philippines? Does Dyson even have significant market share there?

All these information are needed to be able to answer your vague question. No one can give you an accurate answer here, unless their intention is to mislead you. You can do a few things: (1) email the management (2) email the analysts from RHB/UOB (3) go to the AGM.

To address a recent comment by a member about low margins, you can see the same in the thriving plastics industry which operates under a similar low cost, high volume business model, focusing on quality and service to big international brands as their core advantage. Winning examples in this industry are Daibochi, Thong Guan, Tomypak, SCGM, Scientex.

Be logical in your investments, don't be misled by the ill intentions of others, and don't easily take their word. As a responsible poster, I am only providing you facts and guidance on what you can look at for comparison, and where to send your question to for genuine answers.

@muscle @winpluswin, no difference in PE or net profit. They just change the pegged year from 2016 to 2017. It may trick small investors, but funds will know there's no difference. But overall, still a positive development, good buying interest today too.

@sell, your EPS is inaccurate due to seasonal factors, VS's Q2 is lower and in line with normal annual order trend from MNCs for consumer electronics, you can scroll up to see @rojakmee's comments on EMS sector to know more. VS should be doing EPS of not less than 11.96 sen for FY16, if not more. This is already based on discounts to the lower end of analysts consensus forecasts, to be even more conservative. And if I follow the P/E 10x that you gave, the minimum is RM1.20.

--
20/04/2016 16:11 sell Latest qtr EPS 2.37 annualised 9.68 sen. If fair PE 10; 97 sen safer.

@deadpool you are right in that sense. Maybe when sentiment improves, coming in slightly later will still be able to enjoy the upside.

@limayseng, i3 is for discussing stocks, not for discussing reasons petty things like why you should or should not give answers. So your answer to my question about why you said Fair Value is >RM13 is: "trust", "confidence", "hind side", "intrinsic value", "Buffett"? Ok, we all know what that means. By the way, check the dictionary of what is "hind side", it really means buttocks.

@yeohhh, 0.80 sen is the bare minimum, which shouldn't happen to large companies like VS unless they really screw up. Even if we take FY16F RM140m NP (round down RM145m projected by RHB), and take 40% dividend of RM56m. Assume 1.2407 billion shares (after convert a quarter of the issued warrants), that is dividend of 4.6484 sen per share. Give it attractive dividend yield of 5%, you get RM0.93 per share, 8x FY16 P/E for a growing company with near RM2b revenue, ranked world top 30 in EMS sector, and ROE of more than 10%. I will buy more. In fact, I have mentioned earlier my next top up price will be RM1.00 if it ever reaches there, but so far no luck.

@limayseng, I did not say anything about price fluctuation, or buy or sell. Since i3 is supposed to be a discussion board, it is normal to post simple question on why you commented "though many has rated that it is fully valued at RM 13 but I think otherwise". Your replies keep on talking about scared, chicken, superficial, FD, EPF, confrontational, constructive, etc.? Very weird la.

@yeohhh, remember Banglala? I believe there is some truth in his comments, can read again. Because of that, your TA might become irrelevant. What I mean is, be cautious.

@mcchuah, thank you. Please note that I only provide clarification on wrong info. If you need more information to make a buy or sell call, please ask @cwingz for further opinion. In my own opinion, please be cautious because of the unusual volume, there might be more downside.

@limayseng, you have already answered. From your reply you said you only know based on "hind side" and "confidence". But actually, I don't understand the meaning of "hind side", if I check the dictionary, the meaning of "hind" is back. You only know based on backside?

@Kinglive, wow, you agree? Okay please follow sasword advice, thank you.

@limayseng, clearly you are not following your own advice, please look in the mirror. Still, one simple question, attracting tonnes of negative posts. Who's the one being "confrontational", not giving "constructive views", not "sharing ideas"? I thought you said all these words? Oh c'mon ;)

@yeohhh, did I say not to buy? I asked maybe? Read properly.

My post history says enough. I have provided many factual clarification to wrong views by those that are either genuinely concerned, or intentionally misleading. These ranged from the business (e.g. hng33's smear campaign on the new model and other aspects), incorrect views on qoq/yoy comparison, and most recently ex-bonus pricing and entry costs, and others. I am still seeking clarification on your earlier sell calls which were meaningless one-liner comments. Your refusal to provide some basic clarification to add meaning to those comments, yet continued persistence in these worthless comments such as 'illegal substance', 'apig adog', clearly highlight your ill intentions.

Check my last simple question to you about your one-liner sell calls. No response yet. Clearly you're only interested in empty talk here, just like your last few posts.

Says the person who until today can't give any logical responses other than aimless dissing?

@muscle, link?

@yeohhh, maybe you shouldn't accumulate now? as this is a volatile stock with some unusual volume. It might even go to RM1.0+ due to external sentiment. By then, or maybe even just at RM1.18, you might be disappointed and start saying this is a $*** company again.

@limayseng, you are the one that preached "constructive views" and "sharing ideas".

In line with this spirit, I have merely asked a simple question/seek clarification on the statement you have made: "though many has rated that it is fully valued at RM 13 but I think otherwise".

It is a simple question, yet you are giving so many unrelated replies with many bombastic terms, in argumentative stance and poor taste, yet still not answering anything.

This clearly contradicts your own advice of not being "confrontational" and sharing "constructive views". So please check with the dictionary on the meaning of some of these words before you use them.

Also when you want to give advice, take a look in the mirror first. My simple question attracted so much discontent and unrelated posts, why..? It is just a simple question, hmmmmm.... that's strange..

@cwingz, I'll address the part on capacity expansion first.

Taking unaudited PPE numbers, we can see that within a span of 1 year and 6 months, PPE has increased by a total of RM106.5m. Of course, we may not know how much of these effectively grows capacity without checking with management or the AR, for example if there were revaluations of land or factory. But I believe most of it is for CAPEX, after taking a quick glance at the cash flow. Also, maybe check the recent analyst reports if management gave indication of upcoming investments? Will get to the other part of your comment on EPS, later today.

PPE

31 July 2014 - RM600.8m
31 July 2015 - RM664.3m
31 Jan 2016 - RM707.3m

--
19/04/2016 22:07 cwingz Now coming to future growth, management is good and it's the 50 largest EMS company, but what is the expansion? Again based on facts and numbers, what's the capital expenditure the management has put in to validate the 10% growth rate? It's a manufacturing company, capacity has to increase to achieve growth.

Looks like some early buying interest today? For my trading portion, have revised selling TP upward from 1.32 to 1.35 instead to lock in 6% net gain (cost 1.26). Core holdings remain the same with longer term TP of RM1.46

@cwingz, good thoughts, I'll try to address them later today

@cwingz, I understand the need for TA. But even then, it comes with its own justifications based on TA principles, not just empty talk like some people here.

As for FA, if it is fairly valued based on historical figures, you'd have to think about future growth. For example, is giving a 10% growth rate to VS reasonable if we combine both their track record together with management's guidance on new contracts?

And the decline in EPS is based on qoq, which is not applicable to VS, is it?

@limayseng, so now you are admitting you do not know anything, other than 'hind side', and even if you know something, you said you will not share it. Do yourself a favour and please check the dictionary for the meaning of the words you yourself used earlier - "constructive views" and "sharing ideas". Also check for "confrontational", since you are spamming this board with your unfortunate comments of poor taste that are clearly contradicting your own advice.

@Beary, alright, so let's get straight to the point.

Are you calling for a sell? Why?

What's the fair value then? Why? And based on what fundamentals

You have not answered any of these.

Any responsible writer will justify the reasons properly.

@Beary, now that is a slightly fair statement, but still far from it. But kudos on your progress. No one is saying not to buy or sell. But if you'd like to spam with a sell call everyday, give a logical reason to it. Otherwise, we can agree that those comments are just as good as useless.

And again, you are trying to character assassinate to mislead people. Until today, I have only provided factual details on the business performance, providing a view of reason for muddled investors. Tried proving any of the facts that I provided were wrong?

@Beary, unfortunately, even with all that big air, still no factual information or analysis coming from your end. You're good at farting only, o-mighty-corpse-of-shit. Apologies in advance if I sound harsh. But let me put this right: I am willing to retract all my statements and apologise if something useful pops up from our fart hole. Till then.

--
19/04/2016 15:55 Beary Hahahaha grumpy gramma really are you serious???? ROFL....So you considered yourself an intellectual and an "expert investor" by cherry picking FA analysis figures here and there and then parading them as gospel truth. This sounds more like a snake oil salesman to me, or is it saleswoman hahaha.

@Beary, shows what your thoughts and vocabulary are made up of, a rotting corpse's bag-o-shit. Here, copy and pasted to describe you acurrately: Until today you can't give any proper analysis, projection, or logical reasons. Your comments are merely one-liner useless comments, and the others here with a brain agree. We all know shitty comments like yours are still here only because there is no forum moderator for now, let's hope i3investor grows faster and employ more people and then rotting corpses like you will be sent for a proper burial.

--
19/04/2016 15:24 Beary Loveygrumpy, I said apig adog. Are you admitting that you are an apig adog?

@Kinglive, unfortunately till today you still cannot give any factual comments with substance, but still want to spam. We all know what your bad intentions are, very shameful.