@Noby,

You are right that Landmarks have been suffering losses for years. A pertinent question…. Why losses were incurred, and are they temporary in nature?

A quick visit to the Landmarks’ past showed that this Group have on 2006 disposed of most of their assets. Main assets kept are 100% owned Andaman Langkawi & 20%-owned Associate Company MSL Properties Sdn Bhd. Landmarks earnings were contributed by these 2 assets in the past 10 years .

The proceeds raised from the disposal of the assets in 2006 were ploughed back into developing 338-hectare Treasure Bay Bintan (TBB). The development at TBB hit a snag at 2008 (Financial Crisis). Works then resumed and the Phase 1 of TBB is finally completed and pending launching June 2015 (as stated in Landmarks Annual Report 2014).

Over the years, TBB requires high development costs, and at the same time earnings from Andaman Langkawi & dividend income from MSL were too small. In 2013, the management made a great call by renovating Andaman Langkawi. Renovation works were completed and the resort was “re-launched” in 2014, and it was reported in the Annual Report that both the occupancy and room rates for Andaman Langkawi have increased by double digits in the past 12 months.

In the TBB, Landmarks have secured commitment from renowned operators such as Canyon Ranch, Mercure and Ibis Hotels as business partners to operate resorts in Treasure Bay Bintan. They are also now in an advanced stage of finalising partnerships with multiple international luxury brand resort operators, an international brand vacation club and a Thailand-based award winning operator of health and wellness resorts in South-East Asia. This is akin to owning a mall and rent out spaces to retailers. Recurring incomes.

Going forward, Landmarks should see the return of profitability given that TBB will start to generate earnings, reversing the losses incurred in the past years. This fits very well into KYY’s golden rules (increasing profits in the coming years).

Good luck.

TP? Good question. It depends on the flow of income from the Andaman, Associate MSL & TBB. Phase 1 TBB offers 1700 room. Make assumptions on variables Occupancy & Rates, and you should be able to arrive at estimates for the Group's income.

While you do your calculations, I added another 5k into my portfolio.

I get out from Padini today, suffer some 6% losses. Though I have ceased holding any shares of Padini today, I will continue to become Padini's customer. This company kind of losing its direction.

Landmarks treated like sampah, selling at cheap prices of RM1.31.

According to Landmarks Annual Report 2014, the Group has already secured the commitment of renowned operators such as (i) Canyon Ranch, (ii) Mercure and (iii) Ibis Hotels as business partners to operate resorts in Treasure Bay Bintan. This means recurring income for Landmarks for years to come.

Further, the Group is also in an advanced stage of finalising partnerships with multiple international luxury brand resort operators, an international brand vacation club and a Thailand-based award winning operator of health and wellness resorts in South-East Asia. Again, recurring income at sights.

In its Treasure Bay Bintan, Landmarks are not only operating own hotels, but also renting out outlets to the above operators.

tc88, if the director can deliver results, then the self-approved hikes in salaries should not be a problem. But If its net profit does not grow in line with the salary hikes, this should serve as a red flag. Ancom has the same problem you described.

@Noby,

The Edge Weekly confirmed your earlier statement there is no direct competitor to its now 100%-owned KESM Test (M) Sdn. Bhd. as this entity is concentrating on automotive segment.

The Weekly also cited about the high capex required in the burn-in industry. According to KESM Annual Report, the PPM is fully depreciated between 1.5 year to 5 years. Prospect wise, semiconductors for car segment are gaining momentum. Electronic circuits may become obsolete rapidly but the replacements (new circuits) must be subject to the same or more complicated test. The high capex therefore should not be a concern at least for the next few years.

Now, really hope that our handsome boy Samuel Lim can do something to increase the efficiencies in their another 2 entities, i.e. KESB Sdn. Bhd. & KESM Industries (Tianjin) Co. Ltd. Will be great if handsome boy can shed some lights on what he is going to do with these 2.

@cheer2015,

5,000 AXX shares, entitling you the 3,750 AAX-OR. Assuming you fully subscribe the rights, you need to fork out RM825.00 (3,750 x 0.22) to receive 3,750 new AAX shares and 1,875 AAX-wa.

He also sold his Tasco 6 months ago or so. His exit price was about RM3.00, but Tasco continues to soar to RM4.07.

Calvin, pan Borneo highway already awarded. http://www.themalaysianinsider.com/malaysia/article/firm-linked-to-works-minister-given-rm15-billion-highway-contract-says-sara

One City is doing badly. Empty. I brought my 2 kids to the cinema 2 weeks ago. You know what, we were the only customers throghout the show. Boleh untung kah?

Noby,

Thank you for what you have shared.

As per Annual Report 2014, KESM’s main operating expenses are (i) Labours (34.9%); (ii) Electricity (25.4%); & (iii) Depreciation of property, plant and equipment (22.3%). These three constitute about 83% of the total operating expenses.

TNB has revised the tariff downwards, offering a rebate of 2.25 sen/kWh for the period starting 01-03-2015 to 30-06-2015. The electricity tariff for the Industrial Category has been reduced from 42.7 sen/kWh to 40.45 sen/kWh or a 5.3% reduction to be precise.
http://www.therakyatpost.com/business/2015/02/11/electrictiy-tariff-cut-march-1/

Assuming the all other variables in the Annual Report 2014 remain unchanged, a cost saving of RM3.0 can be netted from the revised tariff (EPS enhanced by 7sen).

This burn-in business has a high entry barrier given that there is a need for constantly rolling out expensive capex that must be dealing with high depreciation costs. Any ideas who are competitors to KESM?

Dear Datuk Kamarudin Meranun, no one with the right mind can prevent you from offering helps. What you have done is respectable, but please use your own pocket money. Never ever act at the expense of the shareholders, let alone the company is bleeding to death. Please remember that a responsible CEO shall always look for ways to maximise the wealth of the company shareholders.

Konfom dia bagi dividen 5 sen. http://www.bursamalaysia.com/market/listed-companies/company-announcements/4719901

http://unclezmalaysia.blogspot.com/2015/04/hovid-ah-boys-story.html?m=1

Good read. Uncle rarely goes wrong. Hence, it will be very wrong not to follow him.

This is how the major shareholder victimise the minority shareholders who do not know what exactly has happened to the account.

http://www.theedgemarkets.com/my/article/masteel-expects-delay-submission-audited-fy14-accounts

@theavengers, I bought into Resintc-wa some 6 months ago or so.. Status quo for me as I think this Resintc-wa can appreciate faster.

Look out for its Resintc-wa.

Striking price is RM0.50, expiring on 29/09/2016.

Director Datok Teh Kim Poo accumulated Resintc-wa, last purchase transaction done on 27/10/2014. This elevates his direct interest to 41.12% in the Resintc-wa.

Resintc-wa is out of money as of now, but you think this "Poo" will let it lapses just like that?

Join him to prosper together.

"Trading is so easy and fun" says Celebrity Siti Zaleha.... Ko belum kena lagi, tu lah sebab ko cakap sedemikian. Wahai adek Siti, "ber-dagang" dalam Bursa bukan sekadar perlu mahir klik butang komputer...

Seekor lagi kata menyempurnakan trading sesudah mendapat nasehat broker... Nak kata ko mentah, nanti ko marah... Cara ini ramai dah cuba, ramai yang tersungkur tersebam...

Nasenat abang ialah ko baca dulu buku-buku Warren Buffet atau buku teks lain yang setaraf dengannya sebelum ko cuba "menjala" di lombong Bursa...

Elak tindak dengan kepala lutut. Guna lah kepala otak..

http://eresearch.bursamalaysia.com/download.aspx?id=16810&type=research

Tasco's Share Capital is RM100mil, and the retained profits is RM195mil. This stock is highly illiquid. Time to reward loyal shareholders a bonus for 2 shares held?

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download/?name=EA_FR_Attachments&id=185029

@tewnama, coretan Uncle Z bukan lagi satu bentuk amanat. Aku dah jadikan azimat. Aku print dalam kertas A4, gulung & gantung kat leher, dan bawa ke mana saja aku pergi.

As expected, 3rd quarterly result was released today.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4715069

@sjsoon, thanks for the sharing.

No wine means they know what they are talking about (not mabok during presentation). No champagne means less non-operating expenses. No Macaron means they want keep their balance sheet healhtier.

Cheers~

@matazaizai, thanks for the thread.

Tongher no match for your frontken. Bought about a year ago or so.

Good morning @apini.

Investors are preparing themselves for D-Day tomorrow (release of 3rd quarterly results). Long-term investors are more concerned with the results than its price actions post earning announcement. Such announcement provides clues on whether Gadang is on track to realise the RM75mil in PBT for FY2015 the CFO Kok Pei Ling projected on the 20 November 2014. http://klse.i3investor.com/blogs/valueinvestorresearchklse/64503.jsp

Cheers~

Thanks Uncle K for the above enlightenment.

Thanks Noby. KESM is new to me, and it looks good.

Calvin, I kind of avoiding stocks linked to politics. One cyclical stock that has been on my radar for a long while now is ssteel. May not be anytime soon, but I'm getting in recently I think it is trading at a bargain.

@apini, thanks for the reply. Agree that LBS is one of the safest bet for property stocks as this company is mainly on developing "rumah mampu milik". Yeah, avoid developers undertaking "rumah mampu tengok" at least for now.

@mata_apini, cool..... Your frontkn soars to a jaw dropping 40% within 2 weeks. Congrats. I paid little attention to frontkn when you first recommended to me not too long ago...I dislike penny stocks, but now kind of regret of not digging deeper what you have said.

Ada recommendation baru? Appreciate it @apini.

matazaizai, senyuman lebar dari telinga kiri ke telinga kanan. Buying interest is increasingly apparent and is piling up.

@ckwan11d, no intention to offence you. I withdraw this joke.

Kawan-kawan, Tasco masuk ke tangga "all time high".

Apa khabar semua? Sudah minum pagi kah? Tunggu lah berita baik (laporan kewangan suku ke-3) EGM Khamis ini.

@yeongsheng, your shirts were holed after a few round of washings? You serious? Most of my shirts were brought from Padini, and I don't have the problem you experienced. I own some Padini shares, I'm not defending this Padini, I just state the truth.

However, I do agree that at the end of the day what matter most is the set results they are going to deliver going forward.

Kasi dia (Gadang) rehat dulu.

Ini lagi satu kaunter yang aku simpan lebih satu tahun, tak jalan2. Apa yang meletup? Semua pinjaman dalam US dollar, tak pasal2 kena bayar 15% dari nilai pinjaman akibat Ringgit merundum tahun ini.

Hello para pelabur otai (seasoned investors),

The followings are the dates for Gadang. Do mark them into your diary.

23/04/2015: EGM for seeking shareholders' approval for the purchase of Semenyih land.

23/04/2015: The 3rd quarterly result to be announced on the same day.

24/04/2015: The earnings to be digested/measured against the projections made earlier, and do expect release of Analyst Report by JF Apex on the 24/4/2015.

21/05/2015: 11MP to be officially announced in Parliament. This may add some spices into construction stocks.

If everything is nicely panned out, this Gadang will turn into Kandang Duit.

Cheers~

Well said matakancil!

Thanks guys! Aku ni mabok2 termasuk kandang "Gadang", really fruitful. But I reckon that the party has just started.

@tewnama, as you know, Uncle will never aim at a gain of 2 cents or 3 cents for stocks he selected. The TP of 4 is from me, taking into consideration its projected earning of RM0.45 per share for FY2016.

http://www.bursamalaysia.com/market/listed-companies/research-repository/research-reports#/?counter=9261&cbrs=all

Enjin baru start, Uncle Z targets at RM4.00 in 2016

Always_steady, I'm still holding on this counter, no intention to reduce my holding unless its fundamental has deteriorated. Kfima well diversified, food division shows strong sign of recovery, & earnings are sustainable going forward.

Comes 29/09/2015, a total of 19,668,739 shares of Gadang-wa will expire. At present, Gadang-wa is in the money as the striking price is RM1.00. If the mother share continues to stay above RM1.00 which I’m sure it will, investors would certainly get their Gadang-wa converted into the mother, which means that the RM19.7 mil will be added into their coffer. The dilution will then take place but this is insignificant as the enlarged number of Gadang is only increased by a quantum of 9.1% to be exact. No ESOS is shown in the Annual Report 2014, meaning no more further dilution.

In its circulars to shareholders dated 8-4-2015, the total bank borrowing post the purchase of Semenyih Land is RM204,069,350.00. This puts Gadang on a gearing of 0.64. The proceeds from the warrant conversions are expected to bring down the gearing to 0.57.

The contribution of their JV in the Johor Capital City is likely reflected in the 3rd Quarterly Earnings Report. This company is on the growth mode, do not expect generous dividend payouts. ROE 14%, let them retain the earnings and do the compounding at 14% for us.

@mata-apini, just ignore this baby house fly.

@matakancil, report out this 23-4-2014 noon.

Tak perlu kecut, ini hanyalah profit taking dan aktiviti membuang daki (singkir kaki kontra)

probaby, apa lah ko ni.... Warren Buffet pun tersalah langkah beli Tesco. Yang penting kita semua belajar daripada pengalaman dan tidak ulang kesilapan yang sama di masa depan. Tak perlu ungkit TAS.