Very interesting & good observation, well done, StockKingdom

You can get the details of depreciation on page 96

hi, chl1989, depreciation & amortisation is just a provision made for accounting purposes and it is non cash item.

The purpose of D&A is to show the usage of the assets over its useful lives.

For example, a photocopier purchased for RM5000 & it is estimated to last for 5 years, so the company will provide depreciation of 20% every year & a depreciation of RM1,000 will become expenses of the company.

After 5 years, the book value of the photocopier will become zero.

Since it is not actual expenses paid by cash, it will be added back in the cash flow statement.

For example, depreciation for 2016 was RM21.6mil (page 91) and it added back in cashflow statement (page 63).

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=178563&name=EA_DS_ATTACHMENTS

I agreed what IamGoogle said, Ricky Yeo is one of the best analyst in figures in i3.

Well said, IamGoogle

Thank you for sharing, myinvesting

I think so, probability, but not so sure

No one talked about this, WealthWizard can always dig out the true trade nature of a company. Amazing!

If the average selling price in the quarterly period 31/12/2016 was RM4.47 & profit was RM9mil, what can we expect when the average price was around RM5?

Very interesting, SuperMan is here.

Thank you for writing & sharing, very good observation & keep it up, myinvesting

I trust WealthWizard has his points to prove not only from business perspective but also from the viewpoint of financial rations

Why not wait for part 2 then only talk about figures?

I agreed one point, a true bisinessman can overcome the difficulties in a very tough business environment, that's what Robert Kuok did when he was in sugar business. See how the business performance when someone took over from him?

It was like Robert Kuok in sugar business, CAB is also in the controlled item business, the profit margin has been stable over the years and I don't this will change significantly in future, but it may be improved progressively by having efficient & effective operating cost management and running it at larger scale (benefiting from economy of scale).

It is interesting to see its sales increased 38% YoY in latest QR & delivered best ever results for the 3 months period ending December.

Probability, the news is worth to read but it was published on 10/2/2017, weeks before the latest QR (27/2/2017) released.

Thank you, WealthWizard. Looking forward for your part 2 :)

Flu is always there, it is the matter how to contain it.

Everyone will have its own favourites & judgement in deciding what to do with his/her money. One man's meat may be the other man's poison. Do your homework before decide to go in.

Well done, WealthWizard, thank you for writing & sharing

Great article & thank you for sharing, WealthWizard, you have magical ability to see things so differently from others

No seller?

@ProAdviser, I won't say it is overvalued but also won't ask you to buy because I am holding it.

One man's meat may be another man's poison OR simply this may not be your cup of tea.

My advice is to read all news, financial reports & compare to other alternative choices, then only decide what is best to you.

------------------------------------------------------------
ProAdviser Money sifu... So for ekovest should collect now or its already overvalued?

I have gone through the process of price dropped from RM2.60 to RM2.25 previously & still holding then.

Now my average price for mother is RM1.38. As a holder, the price movement to me is just fine to me.

For buyers, any correction in price is always good, buy cheap is better than buy expensive.

Make your own decision to sell, buy or hold, don't follow anyone but based on your ability & expectation after doing your homework.

Like that sure NO.1 by end of year, congratulation!

Well said, Ryan88, it is always safe to stay on ground & stick the principle of fundamental.

I had seen all kinds of things before & after 1998 & 2008. Only companies with good fundamental will stay.

Always buy companies with sound management, good prospects, strong balance sheet & records of good & profitable results

I will always stay away from companies that price going up by selling concepts only. Many have made monies from these companies but not me.

-------------------------------------------------------
Ryan88 During bull period. Stock market doesnt follow logical anymore. Stick to fundamental . Dont buy overvalued even good company. Stick to under valued good fundamental. Now bull market, want to stay long and earn big in stock, has to work against big trend. Music stop can see who survive already
20/03/2017 16:33

Thank you, WealthWizard, look forward to have your article about CAB published soon in i3 for sharing.

Hi LouisLim, my near term target will be RM2, next are RM2.5 & RM3.

WealthWizard has even higher target for CAB. :)
-------------------------------
Posted by LouisLim > Mar 20, 2017 05:19 PM | Report Abuse
moneySIFU, may I know whether you have any target price for CAB? Thank you.

I wish to thank WealthWizard for introducing this company to me and we had several discussions about this company over emails. The working & analysis are pretty impressive & encouraging.

Hi bluemoon22, the share price of this company has been flat for almost a year, so the downside is limited.

Meanwhile, the company has been very aggressive in expanding its plans to grow big without worsening its net debt ratio.

Market has not responded to its growth expansion & results.

My view is it was never expected for Ekovest to win any those projects as Ekovest is walking at its own path alone without competition.

Anyhow, it will be good news if any win under these projects, like the one JV in Pan Borneo highway. It will give different dynamic platforms for Ekovest in becoming 10b cap company

Ekovest has never been mentioned as stocks to watch by bankers all these while when come to those projects mtr, lrt, etc. We'll see any surprise from those projects since Datuk Lim had said the company has tendered for some of these projects

Very interesting news in the starbiz today:

It is also learnt that SIPP, which is private vehilce controlled by the Sultan of Johor, has been appointed as main contractor for Gemas double-tracking job

Henry, the fact is I am holding Ekovest mother shares but I won't ask anyone to follow me to buy or hold because I don't want to take any credit nor blame if things turn favourable or unfavourable later. I only responsible for my own money & hope all will make money based on homework done

Nope, the price is considered fairly low if compared to ann joo. I have my own expectations so I made that decision based on my own judgement

Hi 1n1792, the result of SSteel is bit short of my expectation, it was tougher than what I initially thought, I might be wrong but I decided to cash out & move on

-------------------------------------
Stock: [SSTEEL]: SOUTHERN STEEL BHD
Feb 1, 2017 16:38 PM | Report Abuse
I dare to dream SSteel to have 60mil profit, that will be about 13-14 cents in the QR 31/12/2016, let's hope no negative surprise

moneySIFU Masteel is out now, they did bad when rebar price dip & now also bad when rebar price up.
22/02/2017 14:58

hehe, copy down first, good comment should be remained
---------------------------
Posted by Fortune Bull > Mar 19, 2017 12:38 AM | Report Abuse
This is first time that I completely agree with Calvin! Ringgit is so trashed that in terms of US investors, bursa is only at 1100 level! Thumbs up!

To be frank, This is so far one of best articles from Mr Calvin.

the horizon of the Mr Calvin's stock picks are set at more than 1-2 years, not many can wait for that long. The problem is the readers read some of the articles with perception that it will happen soon. It creates discrepancies in expectations

Hi probability, I always admire your technical see through ability on the operations & industry of a company.

Thank you, I have been monitoring Gadang too.

I made my first buy in Gadang when price was RM1.40+ 1.5 years ago, sold at range of RM2.10-RM2.50. I missed the 2nd wave from RM2 to RM3+.

Thanks so much, pisanggoreng,

FYI, I am running business related to figures :)

One thing, it is not I wanted to average up, it is because I will invest extra money whenever I made from my full time works.

Extra Bonus, game to pass time, enough to live well, well said, pisanggoreng

Good day, pisanggoreng, I fully agreed to your views above & I know how faithful you are at Gadang no matter up or down. Congrats to you for being rewarded for that.

At beginning of the year, I have also set 30% return as my target for my stock investment this year, as we all know 30% is quite a high goal to achieve. The truth is I get far more than what I expected so far, such unbelievable experience.

I feel thankful instead of stressful and feel satisfactory for my decision rather than just happy in making money.

I promised to Lord to contribute 10% of earning in stock market to a church by May this year. It may be God's will to make that happen.

youngnewbie, you are right, risk is always there.

Just always keep in mind that this is your hard earn money.

If one know what are the risks associated & what to expect after homework done, then it should not be over-expected or under-estimated.

Hehe, Henry, good one.

When Iwcity was still at RM1.20-1.30, Ekovest was traded at RM1.30, the worse for Ekovest should be RM1.30, my 2 cents opinion.

hehe, winwin2288, that's why I don't like the feeling to stand sideway when price is cheap but can't buy.

So I build up my own strategy to buy big quantity (30%-40% of allocation) at first, then top up progressively, it will reach 100% allocation anyway, matter of time

Today added some at RM1.36

Yes, Ryan88, both ivory & malton are very hot now, but these are not my cup of tea, thank you. Wish you make money there.

Hi Henry, my style is to buy on daily basis, sometimes I may able to buy cheaper later, but sometimes expensive later.

Also, I will always buy when price is weak, so it allow me to avoid buying higher price.

I start buying when price was RM1.45, all the way down to RM1.35, now still buying.

My current mother average price is RM1.38.

---------------------------------------------------
Henry Chan @moneySIFU may I know your avg price for mother?
16/03/2017 18:15