Most of us already buy at lower values, now enjoying the ride up! :)

Looking at the thin buy queue makes me excited....but let's not get too carried away.

Wow left one lonesome lot at RM1.70. Good thing we are back in RM1.7x territory. Let's maintain here for a while now.

Interesting, however both P/E and P/BV are at high levels. Would rather stay away cause this is just banking on the CX-5 knocking things out of the park.

All the best for the week ahead. Here's to hoping fridays news provides much needed catalyst to drive share price upwards. Will be interesting to see how analysts rate the job win. Hope to see us return back to RM0.7xx

By the way guys, I often monitor the Parkson China website to see if they have made changes. And today finally I see that the Parkson China website has changed!

Can somebody please translate whats going on? What do the things on the website say? Is there a new app launched? This could be positive development going forward.

http://parkson.com.cn/

Royce, your calculations are correct. However, NO ONE will ascribe the full value of the sum of parts to the holding company. As such, there is often a penalty of 30-40% called "holding company discount".

Also don't forget, above and beyond that Parkson Holdings Bhd has got its own core properties and businesses such as Parkson Credit.

Pmetal is a defensive counter? Holy hell, it's in one of the most cyclical industries.

Anyway, here's to a good week ahead for Hevea, let's get back into the mid RM1.70s!

Ah well those are not going to be awarded anytime soon.

Also, I think Bumi should not take on anymore large FPSO project in the next 12 months, I.e. Till Q2 2018. They should focus on executing all at hand perfectly and start paring down their debt. It would be good to land one or two small/mid size contracts. Once debt is lower, then take on a large project, so that it doesn't require the raising of additional equity.

They can likely pass through cost, but not so fast. Immediate quarters will suffer a margin compression before the cost is fully passed through. Might present some buying opportunity in 2-3 months time (compounded with the warrants thing).

The hell guys, can we please keep all this talk about the US stockmarket aside?

This is a Heveaboard sub-forum, let's stay on topic. Don't see why some randoms are hijacking the forum.

Pegaga? Upstream has no updates in it. Latest is a Wellhead for Sepat. Maybe you're confused between the two?

Few more? Such as?

http://www.thestar.com.my/business/business-news/2017/08/12/eye-on-stock-tambun-indah/

Please do not buy at RM1.16. Wait for it to be violated. I do not follow TA, but if you want to use TA, bet AGAINST it. The lower you buy, the higher your future returns.

I love Tambun. What a great balance sheet and ROE. But there is no need to rush.

PS: Actually you can start buying Tambun now, on the condition you save your bullets and buy every 10% it falls to average down, and NEVER sell.

What's the status for the rights issue...? Still on or not?

To be completed in the 2nd half of 2018...means for roughly one year of contract duration there is a RM576mil revenue...pretty good! Not sure what kind of margins there are for subsea works...but assuming there is a 10% margin (conservative) it should add ~RM57 mil to the bottom line over the next 4-5 quarters.

Nice, may provide positive support on Monday. Fortunate to have come in today. Everyone who bought at RM0.680-RM0.695 this week can be satisfied with their purchase.

http://www.offshore-mag.com/articles/2017/08/more-orders-imminent-for-floating-production-systems-report-claims.html

Prospects are there but will almost certainly result in a rights issue if it requires above RM1bil capex.

I didn't see anyone mention this here (nor did local media report about it): http://www.epmag.com/gas-production-starts-indonesias-bd-field-1647116

This is for Karupan Sterling III. It doesn't specify if the production started with the FPSO, or without the FPSO.

Finally got in for the third time at RM0.685. Previous buys at RM0.605 and RM0.630. Total average cost price is at RM0.6621.

Let's hope for the best!

http://www.theedgemarkets.com/article/cae-confirms-advanced-talks-airasia

Andrew, doesn't sound right. From your story, you would have been best off if you just held your Hevea shares all the way through.

Specter you're a nice lad, but that attitude won't take you far. You practically lucked out with the North Korea destabalization of the markets, which has triggered the sell off in global equities these past 3 days.

You made a good sell decision, but the magnitude of it is being accentuated by something totally out of your control. Don't be so lanxi and run salt into other people's wounds. I could care less, but the others here...I mean you get me right?

If you've sold and think you made some handy profit, begone and be at peace. No need to rub it into people's faces. That Hevea is down RM0.15 since you sold is totally out of your control.

This builds character. Humbling and beautiful experience for me. Way to go.

I believe some sell-off yesterday was contributed to June Wood industry subsector IPI growing only 2.8% YoY vs much higher in previous months.

http://www.midf.com.my/images/Downloads/Research/Econs-Msia-June-IPI-MIDF-100817.pdf

Amazing. From 1.78 to 1.61 in a few days. Alas, in for the long haul. Buckle up boys, it's about to get rough

Wait for RM0.75 better yet...this is not going to be pretty for the next few months. Next year should be a good turnaround though.

Now with steel price so high, it will impact Engtex, since they are downstream player, not upstream. As downstream their procurement price will be increased, which is a negative. Prepare for some heavy selling as the upstream steel counters jump up.

Their jobstreet ad seems too optimistic...or not? https://www.jobstreet.com.my/en/job/senior-marketing-manager-textile-3360610?fr=21

Some interesting details:

- Vietnam operations to begin in 2018 only!

- Prolexus Textile Park in Kluang, Johor, of which the Group’s fabric mill will be situated, will have an annual capacity of up to 200 million yards of knitted synthetic fabric
(initial production per Abridged Perspectus and Annual Report is only ~15 million yards!)

- annual capacity is 14 million pieces and it is projected to reach 40 million pieces upon completion of the expansion plan in Vietnam
(initial production capacity expansion from Vietnam is just 3.5mil pcs per yr, only 13.6% of the implied eventual Vietnam plant capacity)

Did any current holders top up in recent days at sub RM1.25 levels?

Unlikely better Q2, dwindling unbilled sales + lack of launches...eventually the revenue/profit has to dry up right? Management also is smart, push back new major launches into 2018/2019. Present shareholders may have to suffer (but get decent dividends in the interim)...but prospective shareholders can afford to watch from the sidelines and come in when the stock is even more depressed than it is now.

I think no harm, soon we go to RM1.15, then RM1.08, then RM1.05....at some point I will buy, but not yet, and not today.

Wait lah, what's the rush? The selling has just started.

Calm down boys. We may go down to 1.60. Those in for the long run know the big picture is very much intact. As Peter Lynch and Ben Graham said, don't sell until or unless the story has changed.

If you calculate the EV/EBITDA and EV/EBIT for T4Q, it is under 4.0X! Lots of future expansion growth totally disregarded.

Hopefully I can come in within the next 2 weeks.

@Skliew, you sure that 130mil is already paid, or just a part of it is?

Tomorrow maybe shaky due to the Erin statement.

Anyone knows what this means?

------------------------

As at the reporting date, the capital commitment of the Group is as follows:

Property, plant and equipment:
RM’000

- Authorised and contracted for
87,932

- Authorised but not contracted for
33,683

Buying low P/E ratio stocks only works if you can be certain that future profits will rise, NOT fall.

I happen to be reading Seth Klarman's "Margin of Safety". He's a legendary investor.

This is what he says of PE ratios:

One simplistic, backward-looking formula employed by some investors is to buy stocks
with low P/E ratios. The idea is that by paying a low multiple of earnings, an investor is buying
an out-of-favor bargain. In reality investors who follow such a fomula are essentially driving by
looking only in the rear-view mirror. Stocks with a low P/E ratio are often depressed because the
market price has already discounted the prospect of a sharp in earnings. Investors who buy such
stocks may soon find that the P/E ratio has risen because earnings have declined.

Low P/E signifies that the market expects future profits to FALL. Sometimes the market is wrong, but usually it is correct. There's always a reason for low/high P/E ratios.

Anyways, here's a fresh report from Maybank. Downgraded the TP. Lowers profit for 2017 and 2018.

http://www.thestar.com.my/business/business-news/2017/08/09/maybank-maintains-hold-on-tambun-indah-land/

I do believe Tambun is a great company, best ROE of all developers in Malaysia. However, it is suffering like every other company, and will buy in once signs of the property market actually having bottomed out start to show (or if Tambun sells at unnecessarily low valuations, like 0.8X P/BV.

Guys, don't forget about the low base effect too for Q2 2017. In April last year, they had to shut down one of the production lines for particleboard. So that in itself should provide some boost to YoY profit growth for Q2.

Also as indicated in the research reports Hevea has moved further up the value chain and are producing NFA-grade particleboards, offering superior margins to Super E0 grade boards. This again should provide another YoY boost.

http://www.bursamarketplace.com/index.php?ch=research&pg=research&ac=197175&bb=200916

It might be undervalued but unlike some other wood based companies on Bursa, it has not capacity expansion to drive exponential growth in the coming quarters/years.

Nice, weak holders and traders shaken off. Now we can move on towards 1.80!

Wow, nice profit jump. But the price has been bid up waaaaaay too high! 41X P/E (after taking into account latest Q)...walao!

Can share CLSA report? Maybank published very good revenue/profit/eps/fcf numbers but their TP is very subdued since they use a SOTP based valuation method. I want to see if it is a similar case with CLSA or not.

Hold steady fellows, more discounts on the way

This is a cash cow for sure. Starting to look attractive once more. Top line was good in the recent results, but just opex ate into bottom line.

Wow, red red all over. Worst being Hevea. But these are beautiful days. Time to buy things. Not Hevea. Still hold it, Q2 to surprise on the upside.

To those thinking of buying just because the stock has fallen...beware. Make sure you know what you're doing!

@jeotay, issue with MUI is that it is a massive diversified conglomerate. Parkson is still at the end of the day pretty focused on the departmental store segment. So they're not really same/similar. MUI will always suffer from a "holding company discount".

JF Apex has produced a great research paper, but be patient. Come back at the end of October/early November. Or if there is a sudden plunge in the coming 2 months.