@rojakmee @yeohhh @hariharisaham, sama-sama, you are welcome, and wish you all the best in investing. Do not be a low-life like many commenters here who type useless comments everyday. Your writing reflects the inner corners of your mind, and will determine your long-term growth.

@Kinglive, until today you cannot provide any explanation for your misleading comments. I am happy that most here have brains to think and recognize your ill intentions.

@Beary, oh? you know I'm right and you don't want this info to go out? are you part of a syndicate or a small ciku wanting to buy low? Otherwise, please give your contrarian comments with facts please, if you can, thank you. If you can't, we all know your intentions.

@dayang_suri, you have already lock in good profit of more than 30 sen each warrant. Now your cost of each VS mother share is about RM1.28, not far from current price of RM1.21. Hold or sell is up to you. If you have other better opportunity can sell this and buy that. But remember that VS high is RM1.60 (adjusted), and sold down recently only because of market sentiment for USD/MYR. Core business is still good and profit continue to grow over next 2 years. Current PE and dividend yield is already very attractive, and we may expect to see funds inflow soon once 1MDB sentiment improves.

@dayang_suri, if you bought on 17/12/2015 at RM1.61, your real price today after adjusting is RM1.27-RM1.29. Also, you have received free warrants, which are now about 30 sen each. You are earning good profit from the warrants, and earning dividend of more than 3% per year.

@limayseng, what is with all the opinionated barrage of comments?

Note that I am merely asking for clarification on a comment that you made: "though many has rated that it is fully valued at RM 13 but I think otherwise".

Have not received any reply or elaboration from you.

Instead of replying to a genuine and simple question, you have proceeded with many more non-useful "confrontational comments", clearly violating your own advice of: "We got our various works to do and sorry no time for penned war".

I am still waiting for a proper reply with facts.

If you have none, just admit it.

No need for barrage of useless comments attempting to character-assassinate or be holier-than-thou, which are clearly not working.

Also, please remember to follow your own advice that you wrote above, which was "we welcome constructive views not the confrontational type. So reserve your energy elsewhere".

@dayang_suri, RM1.61 is before or after bonus?

@dayang_suri, what is your entry price before bonus?

@kelvin12, I was referring to additional side trading to earn more only. My core holdings still remain untouched with RM1.46 TP. That is one strategy to beat the "Mr Market".

@limayseng, what is with all the opinionated barrage of comments?

Note that I did not put forward any assertion, merely asking for further clarification on a comment from you, which was "though many has rated that it is fully valued at RM 13 but I think otherwise".

It seems like you should take a piece of your own advice which was "We got our various works to do and sorry no time for penned war".

Bought more at RM1.26 yesterday due to the irrational correction, will sell off the same number of shares at RM1.32. Core holdings remain untouched until next TP of RM1.46.

@limayseng, all that on the surface is fine. But when you say 'Though many has rated that it is fully valued at RM 13 but I think otherwise', please elaborate further what is your TP, by when, what are the EPS and PE that you are forecasting, and why.

Anyone bought more today?

@wei8, unfortunately your comment is again misleading because more than 500 counters in bursa are down today while VS is hovering in between unchanged and a 1 sen difference.

@angiechai, to estimate how much dividend you are getting, take 40% of the quarter's net profit, and divide by the total number of issued shares (currently 1,168 million shares).

Q2 profit RM27.5m x 0.4 / 1168 = 0.9 sen.

The declared dividend of 0.8 sen is very near to this number and therefore deemed normal.

You may question why it is slightly lower than 0.9 sen.

This this may be because of (1) temporary lower pay out for cashflow purpose, which the company will usually adjust upwards in the following quarters to meet the 40% policy, or (2) could be during the time of declaration the number of issued shares was fewer, but now slightly higher in this calculation because of recent exercise of warrants.

Do not forget that there was a bonus issue and also free warrants, so the number of shares you hold today has increased accordingly. Therefore the dividend in terms of sen per share is also understandably lower, and you are receiving same or even higher TOTAL dividend.

@cwingz, did I see 'secutity' ? Heheh is that what you have been reading on the side?

@yeohhh, patience for new and genuine questions, welcome all to learn together

@angiechai, it is a normal trend for EMS companies because of high and low season in a year. You need to compare the Q2 revenue to last year's Q2, and you can see that it increased.

@rookiemy, personally I think there is a good chance for it to touch lows again in the region of RM1.0+. We have seen that before in the past 3 months. There is some heavy selling in this stock because of the MYR sentiment. But if the core business fundamentals remain firm in the next quarters with more contract awards, then even if price continues dropping due to sentiment, investors will still enjoy higher dividend because of the 40% dividend policy.

@manji, if they were trading on the side while mainitaining their core holdings, they could have made multiple rounds of 5 - 10% (therefore effectively 30% or more) in the past 3 months where price went down and up again at least four times if not more. Unfortunately many still subscribe to the chase high and then panic and sell when it is low mentality.

@891088 source? Or your grandma's premonition?

@sell, if you want to quote one bank, please also quote a few others, CIMB, RHB, UOB, PUBLIC, etc.

@malaysiaku you are incorrect. Firstly, VS has 40% dividend policy, and everyone will get the same dividend. You can calculate from the forecast net profit on what you will receive this year in total. And the reason you see 0.8 sen dividend, did you not realise that since 2013, your number of shares have already increased with bonus issue, share split, and also free warrants to you? So there is nothing greedy or funny happening in these numbers, it is all factual. You are still earning alot of money and dividend now if you bought in 2013. And the article written by hongwei is incorrect too, it cannot even pass primary school mathematics, RM20m of annual salary for the directors equals 13% of annual operating expenses, not 50% as he claimed wrongly which is because he wrongly take opex for the quarter.

@yeohhh I do not think the Q3 results would be as good as you anticipate, because of the sudden upward swing in MYR. You can already see the forex losses in Q2. But you can also see it as a reversal of previous forex gain. What I am looking at is beyond this year, because VS is a growth company, and even at USD/MYR3.4-3.8 they were still increasing their contracts and getting new orders. I expect them to do even better fundamentally with new customers in future.

@cwingz thank you for your comment. Notice that I only reply to factually incorrect posts nowadays to provide a correct perspective. That is the point of a social forum, true? If they continue to insist, it is a clear attempt at misleading people, and I call them out for their bullshit.

Not to worry, similar to yourself, I am still reading here today in anticipation of some valuable comments from you, such as my question on what other interesting stocks you are looking at? Perhaps you are reluctant because you do not wish to benefit some of the evil personalities here. If that is so, feel free to send me an email at loveygramps .. (at) .. outlook .. (dot) .. com

One more thing, I am not worried about the share price as they have a 40% dividend policy for a growth company. I am mostly checking the price everyday during periods of volatility, so that I will not miss an opportunity to buy. It is clear there has been some unusual trading activity in VS lately, and this gives us opportunities. I missed the last round when it was RM1.08 only a few weeks ago. Do you have a live and automatic notification system to recommend?

@cwingz should we be following a newbie author who get basic facts wrong? The error here is not even related to calculation or interpretation, it is only at the basic data collection level. If it is something more advanced that is wrong, like an excel formula, interpretation of cashflow and notes, then I can agree with you. There are so many articles to read, should I spend time on one written by someone that makes elementary school level mistakes?

@cwingz, I did not need to fully read the article, it does not pass basic arithmetic. If the directors annual salary totals RM20m annually, that would mean 13% of annual operating expenses. The only way I can reconcile the author's claim of 50% is by comparison to the quarter's operating expenses. If the author can make such basic errors, there is no point to read the rest of the article.

@rainbowyen, this is called, BUTA BUTA quote article and did not check the facts by yourself. The blog author is misleading and wrong. My comments above are still valid, feel free to counter argue me. Don't be a blind bat. And please don't quote lousy and misleading blog articles here.

@rainbowyen, you are completely wrong in so many ways. (1) If annual income is RM20m (I have not checked this), VS annual operating expense is about RM155m, that is only 13%, not 50% as you claimed. And, there is a logical problem with your analysis: (2) How you justify that it is too high? Did you compare the net profit with other companies in same industry?

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rainbowyen VS- Director's salary too high RM20 million annually (50% of operating expenses)
15/04/2016 14:09

@leslieroycarter why are you quoting so many different articles but cannot answer simple question on why you give Scientex PE 16x and how is it justified in comparison to peers?

@leslieroycarter

What is your basis for RM16 TP? Can you list it down?

If you are saying RM1 EPS, that is 16x PE for an upstream material manufacturer & affordable range property developer.

Can you point out which other similar company have such valuation? You are giving even better PE than Mah Sing (9x), and similar to a leading consumer brand like Oriental Foods (18.5x).

And your point on the CD being supportive of TP is flawed. It is a trading instrument for the IB to make money, and they make from the daily trades, and especially when the conversion price is not met by the time the warrant expires, so they are in fact betting the opposite from you.

@sl3ge @buncho89
You'll be entitled to the new shares after 18 Apr, 5pm, which will be listed on 19 Apr. The changes in quantity should be reflected in your stockbroking account by then.

@geary, thank you for your comment. May we know what is your TP for VS and the calculations? And what other stocks you like with much potential upside? On a side note, just for a light joke, I have to make a correction to your statement. Mr Cheah is not Malaysia's WB, that title is already self-claimed by a guy by the name of Mr Tan. A Wikipedia search says Cheah is Asia's WB!

@cwingz, somehow I think they know a slight bit but they are just out to spam. Anyway, enough of shits. What other stocks are you looking at with more upside to go?

@wei8, @Earth, until today you can't give any proper analysis, projection, or logical reasons. Why should your comments carry any weight when they are merely one-liner useless comments? Entirely useless & brainless, 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.

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wei8 @loveygramps any way, is good to self comfort yourself..hahaha
14/04/2016 16:46

wei8 @loveygramps so do you think normal investors like you got such huge volume to sell? I don't hope everyone lose money in this counter.
14/04/2016 16:55

Earth 2:00am still posted couldn't sleep?
14/04/2016 17:08

Earth 走火入魔。
12/04/2016 11:34

@Kinglive you want to say something please stop your bullshit and give full info. Which condo? Why? What is completion rate? What is the take up rate? Is it on balance sheet?

@wei8, I have seen 1.08 - 1.28 in the last two months. Still holding and earning nice dividend at a decent PE for a growth company. I topped up at RM1.16 and not sell anything even when it reached 1.20++ several times.

Why should I be disappointed? Maybe you are disappointed because you are a lousy trader and buy high but cut loss low? Anyway to your question, today may close RM1.21-1.22, so what? Maybe trader like you worry about 1 sen difference, but not long term investors like me.

@leslieroycarter, can you kindly provide the calculations to your TP of RM16? Interested to see your views and how you value the business.

@tedbeh, higher probability for downside than upside because Scientex is near FV for next 6 months to 1 year. In this case, holding mother is better for capital preservation. Personally, this CD is too high risk, because of the short expiry date of only 10 months and Scientex near FV. Also note that call warrants start losing value and suffer less trading as the expiry gets nearer. In short, buy mother and hold for 1 year at least.

It is a very simple analysis.

Is VS profit growth slowing down? No. Increasing profitability and ROE.
Are they grossly overvalued compared to peers? No. P/E <10x with >3% DY
Are they displaying losses? No. In fact, foreign operations have just returned to profit.
Are they losing any customer? No. Increasing and diversifying, big brand names.
Are they having bad cashflow and choking with debt? No. In fact, improving.

So.. What else do you want from a growing, profitable business?

I am still holding after topping up at 1.16, and despite multiple rebound and opportunities to sell at a profit at 1.20+ to 1.28, I am still holding, because, the principle of value always come first. If profits start to weaken, then start reconsidering.

My stance right now? Still holding happily and earning decent dividend.

No reason to sell other than sentiment like a forex trader. Selling on sentiment is against the advice of the time tested gurus like buffett and klarman who have seen it all over the past decades.

@oasischeah, what meaning & benefit are you expecting? It is to increase tradeability and share capital. Refer to this site to know more about the technical differences and implications of a split and a bonus issue: http://stockresearchasia.com/stock-split-vs-bonus-issue.html

@Kinglive, @sasword, still haven't heard any proper reasons or facts from you, other than your usual useless comments. Haven't started your basic course in investing or basic writing?

@buncho89, I do not have a good answer for your technical question. Please refer to this site to get a preview of the technical differences and implications of a split and a bonus issue: http://stockresearchasia.com/stock-split-vs-bonus-issue.html

@buncho89, I do not understand your statement of "isn't really much of a bonus". The main purpose bonus issue is to reduce the price to make it more affordable and at the same time increase number of tradeable shares in the market. That is good for existing shareholders because (1) it generates more investor interest and therefore is supportive of share price (2) the company is signalling that it is confident of future prospects.

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buncho89 @loveygramps thanks for the explanation. so its basically split into 3 la then? this bonus issue isn't really much of a bonus is it then?
14/04/2016 10:24

@deadpool, the shares will be listed on 19 April 2016

@buncho89, there is a share split (2-for-1), and 1-for-2 bonus issue after the split. Calculation for the Ex-price is last closing price RM2.10 / 2 / 3 X 2 = RM0.70

@sasword, feel free to expose anything but not spam with useless comments

Hahaha can come to VS thread to see all the forex commentators coming out like the usual morning worm, yesterday say gap down, today say below RM10, week in week out also same thing. Boring lah, I can also do the same copy paste with zero brains needed

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supermx Tomorrow sure gap.down....USD weaken further
13/04/2016 23:34

CUTLOST Rm strong..vs Sure below Rm1
14/04/2016 00:45

@Kinglive, instead of all your cock and bull stories, why not just tell us what are the problems that your 'brother' knows? Write down here for us to read and judge. Till now, you have ZERO credibility, all your earlier comments were FALSE and MISLEADING, all hot air but no substance. If you truly want to be the good guy, start talking real facts and less cock.

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13/04/2016 23:27 Kinglive - because my brother working inside this company , I know inside problem. Just want to save u guy , but they looking me like bad guy

@qsentral, lovely, and all the best. I'll check back only end of the week and reply your comments then if any. Not my style to scrutinize daily fluctuations. Meanwhile, what are you looking at with much more upside to go?

@Kinglive, still haven't heard any proper reasons from you other than your useless comments. Haven't started your basic course in investing, I guess?

@moneySIFU, finally, thank you, something to discuss. You are partially right, that is only a partial explanation. The sudden surge in volume also means there are keen buyers. If there are no buyers, the massive number of shares would have led to a drastic drop in share price, but instead it remained rangebound. Why now? To be entitled to bonus issue? Who is buying?

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13/04/2016 18:02 moneySIFU - Why company buy back shares? Bcos they think price is below true value. Why company sell back shares? Bcos they think now price is good enough for them to cash in.