We shall be buying at RM0.42. Rights issues always create short-term havoc (for good reason). But once we get past that, UMWOG should be on a road to recovery. No point rushing, it will fall lower still. Buy it at truly depressed valuations.

We must waited more, drop it must and drop it will.

Qtr shd be out this week or next week right? What's the big view on things?

it needs to felling down a bit more lah!

Damn this Kraken thing is making me sweat. EnQuest best not F it up! If EnQuest wants to go down, they should go down on their own, not drag Bumi along with them.

Are these guys serious ah?

Cash in hand: RM1.26bil
TOTAL liabilities: RM81mil
Market cap: RM1.06bil

The cash in hand net of all liabilities is larger than the market cap? It's almost impossible to find such companies in the world and I am wondering what am I missing here.

I mean the news is nothing great. It's just a JV for the bid, nothing beyond that is confirmed. We already know they were bidding for the Hess project in Ghana, but now only as a 45% JV.

I don't see how this should effect the share price in any way.

Any comments on Poh Huat results? Bodes well for Hevea this coming quarter?

Head and shoulders pattern lol, long may I stay ignorant about technical details and observations such as these. Fundamentals are the long term drivers of a stock price, nothing else.

Good to have profit taking. Will consolidate around 14.50 till we have any fresh catalysts or if the latest Q earnings surprise on the upside.

In that sense I disagree. It's not my job to predict a recession. Just buy and hold companies that WILL see a turnaround in a five year period. I do believe that Tchong fits the bill well.

Just my 2 cents. By the way if you ask me, I believe Malaysia's fundamentals will improve over the coming 3 years. 2017 Q1 GDP growth shows that we are in the beginning of such a process.

What other companies would you consider to be "safe" no-brainer investments for gains in a five year period? I believe Prlexus is one of them, Hevea is another. But I'm spreading my risk exposure in buying both "beaten down/fallen giants" and buying companies with "growth at reasonable price" such as Heveaboard. Both of course following the margin of safety concept, where you primary aim is to NOT lose money, rather than make money.

@TheContrarian, how is it the most undervalued? Do you even compare the banks' long-form ROE, and look at it together with the P/BV multiples? Affin seems very fairly valued for now, maybe even a tad overvalued.

You can't just be contrarian for the sake of being different...your claims of the stock being undervalued has to be backed by some financial metric. When I look at ROE and P/BV, I don't sense the stock being particularly undervalued.

johnmaster, who is to be blamed? Retailers are the idiots here. Sell low, buy high. How stupid. Sometimes even funds behave in the same manner, but mostly it is retailers. Just think about the long term, dont care about short term noise. Then no one can trick you.

Retailers are on the whole dumb. I have no pity for those who are greedy, fearful and indisciplined.

2) Refers to Indochina growth. But i3 keeps deleting the comment. Why can't I post it? I don't even use any vurgar words or talk about politics. Can't share as it keeps getting removed, sorry.

3) Stabilizing/strengthening Ringgit. In Q1 17, the Ringgit averaged RM4.43/USD, but in Q2 this has dropped to about RM4.35. This arguably means that the worst is over for the Ringgit as far as the FX with USD and JPY is concerned, and going forward there may even be a slight upwards/bullish bias for the Ringgit. Not to mention, Tan Chong would have been renegotiating cost of parts/models with Nissan Corp., which should also boost the bottomline.

4) Possibly taking over Mitsubishi distribution in Malaysia. Nissan bought a ~35% stake in Mitsubishi Motors in Japan last October. Now the entire group comprises of Renault-Nissan-Mitsubishi. Tan Chong already distributes the former two in Malaysia, so its entirely possible they will take a stake in distributing Mitsubishi cars here to streamline operations and reduce costs for the R-N-M group.

5) Low base effect. Q1 2017 saw a very small volume of Nissan cars sold in Malaysia. Their marketshare was among the lowest seen in the past 5 years. Things have recovered in the following months. Inventories have been falling these past few quarters. When we get to next year, there will be a favorable bias when doing YoY comparisons due to the low base effect.

I got in at 1.82 on Thursday. Buying for long-term. At 0.42X B/V, this is considered cheap. If and when Tan Chong returns to profitability, it will eventually approach 1.0X B/V, and if the ROE can be sustained above 10% then it can possibly hit 1.2-1.4X B/V, which should mean at least a doubling or tripling of capital invested. The catch is...this may take 3-5 years to materialize. It's not a short game...it's a very long game indeed but with a good payoff potential.

Based on my risk analysis, I believe the downsides have been adequately priced in. I will top up more if the stock drops to 1.75, 1.68 etc (every 7 cents down) as long as the story hasn't changed. The few upside catalysts that will lead to a re-rating of the stock in the coming months and/or years are as follows:

1) New models launch. Tan Chong Motors has not brought in a single new model in 2017, and in 2016 they just brought in one or two minor facelifts. That means two new of almost zero updates, unlike its competitors such as Honda, Toyota and Mazda which have been actively launching brand new models here. In 2016, Tan Chong maintained that new models will be deferred to 2018. One highly rumored model is the Nissan Kicks, which should see good demand. The other is the Serena Hybrid facelift, also said to be highly sought after.

If you are a serious Bumi investor, you should read this FULL report. Very well written/researched!

http://investing.com.my/clients/inveszcom/Downloads/Bumi_Armada-On_track_for_a_brighter_futures_(CIMB)_08062017682017112129AM1.pdf

Next week should be good, I guess.

I will sell at 1720, but I don't think so fast yet. It will consolidate at under 1500 until there are re-rating catalysts in the second half of the year.

Waiting at RM0.75. May buy at RM0.80 though just in case some contracts are handed out soon.

Calm down, this will be at RM1.20, maybe even RM1.10 in no time. After ex-date, then you can buy in. No hurry.

If you listen to Ben Graham and stay away from "hot issues" you will never have had this problem.

Link?

Can anyone here go to China websites and see why Parkson Retail Group is going so high? I am not able to type in Chinese. Doing an English language search yields nothing.

There must definitely be a reason.

Possibly better QoQ, not as good YoY. Stock price should stabilize at RM0.42 thereafter.

PRGL market cap is HKD3.64 bil. PHB owns 53.5% of PRGL. 1 HKD = 0.55 MYR.

Therefore PHB's stake in PRGL is worth RM1.07 bil.

Current PHB market cap = RM645 mil.

This doesn't even count its stake in PRAL which is worth around RM200mil.

Now the question is, is PRGL rising based on unfounded speculation...or do the guys there know something we don't? If PRGL's ascent is lasting, then sooner rather than later PHB's valuation will also catch up, no doubt.

WTF man. What's going on in PRGL? Dude this is insane!!! Parkson Bhd's stake in PRGL is worth more than its entire market cap!

Damn didn't hold. Still lots of room.

CCB....well, safe to say this one is being sold by institutions. Hard to regain glory days.

Sanatan, just wait lah. Buy at 0.82, then buy again at 0.75, and again at 0.70/0.65 if it ever goes that low. This company is effectively owned by MISC and by extension Petronas. It will get projects, no question. MISC FPSO's will need to be built/converted here.

Buy for the long term. Just wait for 0.82 (and pray no good news in these next 2-4 weeks).

Time for the big fish to exit.

Queue to sell at 3.38

PRGL up by another 7 cents so far, Parkson Bhd is down 0.005 sen. I mean, WTF? How can there be such a divergence? I feel like this is a classic case of a mispriced security...but I don't have the guts to go all in. I am going to "wait and see" and learn...but I may regret not throwing in everything at 0.575.

@Mmzai...buy the rumor, sell the news. Of course if you are not LONG TERM, sell right before they announce the actual quantum.

WTF does CPO price have to do with AA?

If AAC truly happens, how much special deividend can we expect?

Still waiting for weakness in the share price. Penang mainland property market outlook is also looking rather subdued. Lower my entry price to RM1.35-RM1.38 from RM1.42.

Going in to FBM70 is of no use, since there are no index funds tracking it, unlike the KLCI.

Walao, consider we are at RM3.33 before dividend. I can't wait for 17 sen more to hit RM3.50 and nope the F out of here.

What baffles me is that PRGL is at a 52-week high and Parkson is at an ALL TIME LOW? I mean there's too much disconnect here. As PRGL has continued rising in the past 6 months, Parkson Bhd has been gradually trending downwards.

Now, who is more right? Parkson Bhd's investors or PGRL's investors?

Fascinating to see how this plays out in the coming months/years. Certain that I will love lots of invaluable lessons from this, no matter if I end up making a ton of money or losing a ton of it.

I'm waiting for RM3.50 to exit

In the short run, the market value may diverge from the intrinsic value. But in the long run, the market value will always diverge with the intrinsic value.

No gap up, agreed. But when Kraken comes online, possibility we go up to RM0.85, and thereafter consolidate until Q2 earnings are out, after which it might power up to RM0.90. Barring any major issues, my year-end target is around RM0.95-RM1.05.

Sirs, many thanks. That is some good insight.

I can't read the chinese stuff, sadly :(

What cjlim's shared transcripts?

Is like Q4 '16 results? Time for us to power up to the next heights? Yes please!

Damn man, dodged a bully there! I managed to come in 0.57, out at 0.74. Phew. Something just didn't feel right. What's wrong with this company? Pintaras and Econpile are reporting stellar earnings.

I will buy back once it reaches RM0.50.

Dolly dun say like this ma, someone's might be reporting you for making sensitive statements. Careful. You know the month is what month right?

Vincent1368, it is in these darkest days that the best returns can be achieved. To me, compared to 3 months ago...the fundamentals have not changed...in fact looking at PRGL's results, the fundamentals have improved. So I'll be the first to admit if I made a shitty investment...but in the words of Graham and Lynch...you don't sell unless the story changes.

I'm in two minds as to whether I should double down or not...cause I do see some other promising investment opportunities too.