Read the report again. There is only 200 something acres left, and due to complete by 2022. That's one reason Tambun is trading at a discount, cause after 2022 then what? The company since 2013 say it wants to increase landbank. Soon property prices recover, land won't be cheap anymore. They don't have much of a window left.

Q1 2017 double whammy is oil price up and USD up. Going forward oil price will trend higher, but USD is lower...so it might cancel off a bit there.

Anyway I have decided to stay put. We might see 20% fall from the top of RM3.59...then an uptrend from that point. I already missed my chance to sell earlier, I'll now just hold it. AirAsia was my second share ever purchased, and I have much to learn. The earlier, the better.

What do you guys think? Are AAX's results a harbinger of what's the come with AA? Or do you think AA will remain resilient as it has in the past, much unlike AAX?

Patience. The downtrend can last for a month or two. There are no catalysts, but with this kind of a balance sheet and profit margins....eventually Tambun Indah will hit gold. I can see it double/triple by 2020, but it does need some strong catalysts.

Penang MTP can be a catalysts. New landbank (Penang or outside) will be a catalyst. Improvement in real estate sentiment also good.

I mean if I buy at RM2.67 and sell at RM3.20 tomorrow (with RM0.12 dividend)...do you think it is dishonorable? Or should I just be happy and find opportunities elsewhere? Is it shameful to sell now, when I could have sold at RM3.55++?

What a fkin waste of human life.

Guys, come on. Please respond. What is the Other (loss)/gain of (22,251)?

How can profit around RM800mil? Doesn't make sense. Most likely profits around RM300mil-RM500mil. RM400mil and above should be satisfactory. If things are REALLY BAD, then even below RM200mil.

If you look at AA vs AAX Q1-Q4 2016, you can clearly see AA has much more resilient earnings. So to just go based on this and assume AA will be sold off tomorrow is premature. Nobody expects Q1 2016 earnings to be repeated. That's why the stock is trading at a P/E of 5.3 since it has been priced in. To me, simple story is ROE of 5% will be considered a success, ROE of 4% might be acceptable (but will result in a small price drop)...however anything below ROE of 4% will spark a sell-off.

What is the Other (loss)/gain
(22,251)

I don't foresee how it can drop. Book value per share decreased by one cent due to warrant dilution. Going forward, we should be seeing increasing bv/share. Book value itself increased though. Balance sheet looks very healthy. They have very little liabilities...you can even say they're not making full use of leveraging the business. It's possible they may be lining up an acquisition. Who knows.

Lol not as good as expected? How so?

The only problem is the dilution from warrant exercises at such a low price of RM0.25. We should be at the end of warrant dilution right? Most are done, correct?

Lol, P/E ratio means nothing. Have you seen the margins that Hevea commands? They generally have similar ROE and P/BV. So both seem compelling enough looking at basic datapoints.

Yeah to me....we might go down to RM3.15 tomorrow...but it should be short-lived as MYR-USD movement in Q2 (and the outlook) is positive. Markets are forward looking.

AA and AAX results are not always correlated. I think AA also lower compared to Q4 2016 but should be higher than Q2/Q3, then is fine.

Guys, keep in mind for Q2 2017:

1) According to Kenanga Research, third production line with +15% production for fibreboard comes online

2) In Q2 2016, production line had to be shut down for fibreboard due to emergency maintenance works

So, barring and unforseeable disasters, Q2 2017 will be a sure improvement as well. Also much higher avg USD this time vs one year ago.

Then by Q1 2018 we should see additional RTA facilities come aboard, and sometime in 2018 the mushroom business should start seeing some returns.

So all around...this is a good counter to keep, as long as there are no major industry-wide or macroeconomic headwinds.

Let me know what your analysis is guys, I've yet to read the report

25% rise in profits...jumping tomorrow? :)

I bought at 2.67 only.... (3 days after Q4'16 out)

It's interesting the reverse of what happened before is happening now. Previously it peaked before Q4'16 was out, went down, then powered to current levels. Now, perhaps the opposite? I don't believe the fundamentals have changed, nor do I think the stock ran ahead of itself...maybe I will just hold as such.

Well, this is interesting. I had RM3.40 as my sell threshold on the downside. After RM0.12 dividend that means I ought to be selling at RM3.28. We're now at RM3.28. If it closes at below RM3.28 today, then I have to sell tomorrow. Got to stick to the plan. Maybe I might make a mistake in determining my downside threshold, and if so, I will learn.

Walao...so nice. Today another cycle is taken out.

Mieco is so overvalued. Hevea has several times the terminal profits of Mieco but Mieco is valued at around 2/3rds of Hevea, which is unrealistic.

Damn, this one can sink to below RI RM0.30 with the bad performance and the certain sell-down from UMW owners in the future.

Maybe it should just be shut down, sell the rigs, and call it a day.

This is a shit company lah. They consolidated Khee San's Assets into their books. Now they are unconsolidating. Shitty margins, terrible ROE. This stock is overvalued I tell you. Lots of related party hanky panky going on as well.

Wow you guys so ignorant of rights issue meh? Plus this is one of the largest, if not absolute largest rights issue exercises in recent times.

First day heavy selling, of course got technical correction lah. Now see this week how. Sell now, buy later. Sleep better.

Today only rise because of article in The Edge I think.

What means?

Let's see same thing happen before will happen again or not. I.e. Up before results, then down a while. I might choose to exit at 3.72 if we hit there before results.

Fair enough, they had extraordinary gains both in Q12016 and Q42016. Normalized profits are considerably higher. Good omen for Hevea!

Mieco out...how correlated is Mieco results with Hevea? http://www.bursamalaysia.com/market/listed-companies/company-announcements/5432893

Quite bad, the profits shrink badly. May need to study it later.

Eh why suddenly so many people follow me to wait for RM1.42?

I can bet this will be RM1.32 if not low by the ex-date. Hold your horses men!

If go by past Rights Issues such as AAX, Prolexus etc, the hare will downtrend 20-30%. Now just went down by 10%. Still some ways to go. Be patient, will for the ex-date, it's likely you buy in at a much better price then. Rights Issues are always hated by the Malaysian public, cause we cannot trust our local corps, always doing fishy things that don't maximize shareholder values (at least in the near to mid term).

Not to mention dilution from the "free" (what a cancer!) warrants. So 1 share now will be worth less than 0.5X in the new enlarged share base. That's sad.

@rojakinvestor, it is not 50% of existing shares, it is 100% of existing shares. It is 1 rights share for 1 current share held. Which means share base will double.

It's stupid and silly to fight against the currents. Look at AirAsia X, Prolexus, Land & General...and many other Rights Issues in recent times. In those cases the stocks were in downtrend mode from the time the rights issue was made. Surely, rights issues will be of benefit in the long term, but on the short term they are a drag on investors and they tend to flush out all short and medium term holders.

Worst thing is, MRCB plans further cash calls in the future. Those guys are stupid. 1:1 cash call is largely unheard of, especially after the 20% share placement. The Bukit Jalil stadium project isn't really going to be that profitable either.

"It points out that it would still need to raise funds in the future to finance its future projects, but it would be at levels that are palatable to the market."

Link: http://www.thestar.com.my/business/business-news/2017/05/20/righting-a-rights-issue/

LOl, those that trade on tips and rumours will not last in these markets...

Parkson8888, but if you held PRA from their high point of SGD1.00++ till now, it's dumb. An investor should not be afraid to sell his position in a business in terminal decline or at the beginning of a down cycle. But if you bought in at SGD0.12 then to sell now is kinda short-sighted. It all depends on the perspective. As for myself, I will always be at the ready to sell any of the companies who stock I own should the fundamentals deteriorate. I'm only in the "buy and hold" so long as the company's fundamentals are sound enough at that price level.

Projecti, you're the typical retailer who loses in the markets.

skng74, yes I request for AR. But it is excessive. How about you request and see for yourself? Annual report is usually just a simple 200 page booklet. This is not a mere booklet, it's a hardcover premium quality stuff. It's like 5kg heavy. Sent by express mail. It's the first time I encounter this...

Oh yeah, sorry got mixed up. It's Perkasa that's being sold.

I bought Armada because the stock value was depressed (rightly so!) but there was light at the end of the tunnel (with the 4 major projects that were due to come onstream in the near term). When I did an upside/downside risk analysis, I felt that most of the downsides were fully priced in. As such, feeling that there was an adequate margin of safety, I first bought in on Jan 3 2017 (RM0.60) and then again in early Feb 2017 (RM0.63).

Coffee table book means the really thick hardcover large book you see with very high quality photos. Just do a google search. This thing costs AirAsia only much money. Just email the IR if you want it. If you have direct CDS you are entitled to a copy. I have never seen a company AR like this before.

Congrats to all.

@lordng, I don't care about start-up costs lah. I invested for the long term, I bought it at RM0.60. I have holding power. Nothing will scare me off. I have done my research and am comfortable with my level of exposure.

Read annual report, refer page 42, column 3, row 3.

"In the case of Amni, this has resulted in the sale of the Armada Perkasa FPSO post year end 2016."

I emailed them and they have confirmed Perkasa selling agreement has been reached, deal to be closed end of June. I think it will be positive as they weren't making anymore profit on the Perkasa FPSO.

Lion, too simplistic. Share price will follow performance. If there is a positive turnaround, they will return to PRA. Don't be worried. Parkson is a notable brand. It just needs the turnaround, stock price will increase accordingly. You can't simply expect the stock price to increase now, cause then it will not reflect the current situation of the company anymore.

EPF has got 10+ independent fund managers. That's why sometimes you see they are buying and selling on the same counter.

AirAsia waste so much money on their stupid annual report. I request for it and they send to me via PosLaju, and it is a COFFEE BOOK! Waste of money!

They have sold Armada Perdana. Read their annual report.