AA has breached consensus target price. Now question is, will consensus revise upwards or not? Could signal trouble for AirAsia meaning it will be susceptible to any kind of negative news. I am going to exit at RM3.60 now (will revise it once we get there depending on the data available) but will set RM3.30 as a downside exit if RM3.60 is not hit.

Damn real bad luck. I missed it at RM1.48. Haiz, I think have to let go of this lah.

2ez4 AirAsia is in cyclical industry.

Yes Kevin, but in the near term Esceram is still overvalued. Book value is flattish. It needs to grow!

I mean I feel you want returns, then at some point you have to be prepared to sell AA. AA will soon get into overbought territory, and the underlying performance may no longer hold up in H2 2017

Red means just delay lah. Fundamentals still intact. I hope it drop again to 65 sens, haha

Today buying interest due to rotational play on the glove companies

Bad quarter for Parkson Retail Asia. Turnaround has to come around soon, hopefully. Not sure if it will have a huge impact or not though tomorrow.

Seems cheap, no? 1.2X P/BV with consistent ROE of 20%?

Anybody got their Annual Report? Is it hardcopy or CD? I have Direct CDS but so far nothing. Any idea how to request for a hardcopy? Thanks!

Guys, how can I ask for a hardcopy of the Annual Report? Armada is my first ever stock purchase. I want to keep it as a memory. I have a Direct CDS account. Thanks!

Number of shares is based on their Weighted Number of Shares (listed at the bottom of the notes section for basic/diluted EPS)

Tomorrow margin calls will lead to a fire sale. No hope of moving out of limit down price.

What happens if it limits down for two more days? Tomorrow already going to kena margin call. Will it lead to a 4th day of limit down? Worth to queue at the down limit of 4th day?

Pakistan contract is just tiny fish. About USD15mil per year, which is RM70mil revenue per year. Of course little things add up, but on its own this is just less than 0.2% of TNBs revenue.

JS Goh, you may back test the formula with previous quarters. It doesn't match up.

The usual formula is (Total Assets - Total Liabilities - Non-Controlling Interest)/Number of shares outstanding

Plus with you formula it is 1.34 not 1.33.

You can backtest your formula, it won't work. Mine if I backtest to 2013-2014 it works, but ever since they did the bonus and rights issue it stopped working.

R40s and JS Goh, that is incorrect as Net Assets per Share Attributable to the Owners of the Parent exclude non-controlling interests.

Is China going to abandon all their projects in Malaysia ah? So far we know TRX is gone case. What about ECRL? That also gone? Walao, if like this Bursa will take a beating in the short term. Damn the China government man!

Nobody want to buy, queue also no point. Who will buy your stocks at RM2.16? Only idiots, that's who. At least Ekovest when limit down people buy because it is a company with sound fundamentals. IWCity? Huh, nothing to see here man. Maybe on the second day when limit down again also not easy to find buyers...they will wait till third day, then only come in.

Can anyone please clarify as to how does Prolexus get the figure of Net Assets Per Share of RM1.33 from their latest quarterly statement ended 31 Jan 2017? I would greatly appreciate it. My calculations just don't work out.

Link: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5376413

Ok thanks. I wasn't aware of that. So is it fair to say that the P/NAPS of 1.71X on this website is being overstated? It should be lower right?

Valuegrowth, why's that so? Would appreciate some more clarity. Where do the RM1.006 bil in additional assets come from?

That means, the i3Investor's T4Q NAPS is understating the actual NAPS, correct? Which consequently means the P/NAPS (i.e. P/B ratio) is being overstated, correct?

Guys, I have something very urgent. Why is there discrepancies in the Net Assets Per Share for Prolexus?

In Q4 2016 (ended 31 Jul 16) financial statement they have the Net Asset Per Share at RM1.17. However for the annual report 2016 they have the NAPS at RM1.23.

Similarly, for the latest Q2 2017 (ended 31 Jan 2017) financial statement their NAPS is listed at RM1.33. However on i3Investor's T4Q NAPS is listed as RM1.27.

Can somebody please explain the discrepancies? These matter.

Thanks!

Guys, I'm just wondering, why is the Net Assets Per Share reported as RM2.38 on the AirAsia Financial Statement for the previous quarter?

Isn't Net Asset Per Share as follows: Total Equity / Number of Outstanding Shares

Using that formula I get Net Assets Per Share of RM1.98 (same as i3) but AirAsia states it as RM2.38. Hope someone can clarify this!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5346261

I'm willing to take my chances on this. It will never reach RM5 or RM10, but RM1-RM2 is achievable.

Don't disagree, Parkson is past it's prime. But if Parkson continues to exist, albeit with lower profitability, the current valuations are unjustified. It's either Parkson bungkus, or turns things somewhat around and the share price doubles/triples.

Overvalued. CEO on BFM was like a bloody proudy person, everything he say "I, I, I" and not "we, we, we".

Parkson's fundamentals are actually really bad, that's why it's selling at 0.28X P/BV. They are rated B-/B3 by the rating agencies. Their debt:equity ratio is at 1.7:1. Their current ratio is below one.

Parkson has got absolutely terrible fundamentals, which is why it is so "cheap". Find me another stock trading at 0.28X P/BV? But I'm willing to take my chances that Parkson will ride this out in China and SEA. It's a risky bet. This is nothing like AirAsia at 80 cents, which still had solid fundamentals and a P/BV of about 0.8X at the time.

Long story short, Parkson is a gamble with poor fundamentals, but with the downside already heavily priced into the stock valuations. So you can kinda say it is gambling with the odds in your favor, to some extent. Allocate some money to this company, but don't go all in cause it may not end pretty. Set an exit if in 2 quarters time their balance sheet deteriorates even further and they fail to achieve any kind of Same Store Growth in China and SEA.

Guys, what's your exit? I'll leave at RM3.80. But if it never hits that and starts retreating with bad news, I will exit by RM3.40 on the way down.

I will queue at eko limit down

Tenaga will move slowly but surely. One of the safest long term investment in the stock market that's for sure.

Magni Tech seems almost fairly valued. What's the long term ROE? If it will be sustained above 25% then current P/BV of 2.1X makes the stock undervalued. But that seems risky, no, expecting long term ROE of 25% which is higher than the historical norm? This could explain why P/BV is lagging increase in ROE. If Magni keeps ROE above 25% expect the P/BV to catch up. But if it hits any major issues and if ROE falls expect a selloff to ensue. Long story short, not much margin of safety here. Could be a good play but sensitive to a decrease in profit.

Wo Bu ke yi du hua yi

All depends on Kraken. But likely trade around RM0.75-RM0.78.

Queued at RM1.44, didn't get anything.

We know Q1 is a record quarter. Market has already priced that in pretty much. Question is...how good is Q2? Can it be sustained? If Q2 is reasonably good, then I can expect us to march towards RM3.80 - RM4.00.

Walao, whats with the ending spike there?

I don't do short term. Sorry. I invested on fundamentals and will keep until the fundamentals are fulfilled and will sell to cut loss if the fundamentals change adversely.

So weak those who thought of selling due to the drop. Always go out in top you nuts.

Why you don't get the hardcopy? You're not a shareholder?

Seems pricey. P/B of 2.34, even if we assume ROE of 16% that's kinda high. Unless of course you have reason to believe that the ROE will rise even higher in the near term.

Go to 0.4X BV then I come in.

No issue, profit taking, yesterday very high run up. Now I'm in two minds. Should I keep or sell? Seems expensive, but there is such a large potential for rise in earnings given last year's very low base.

Also, got my annual report today. My first ever annual report! :)

Gone. Along with the Affinity Hwang Small Cap Fund. Gone gone gone.

Quite a shocker there in the afternoon. I was searching the Internet to see what bad news happened. Alas it's just mr market. I'm holding this till P/B 1.8 is hit, then I start thinking about exits slowly. I do believe AA could run up to 2.0 P/B.

I mean Parkson HK also up around 10% today. So Parkson Bhd still has room to run. It is indeed considered undervalued relative to the underlying values of the two listed subsidiaries (SOP with 30% holding co. discount).

I think best idea for Parkson is to just sell off their entire China business (they can get a very substantial amount, just for the prime buildings), then de-list SG, and consolidate the SEA operations under Parkson Bhd.

^^Referring to the guys above, I am actually a long-time Parkson fan. I buy my shirts and pants from there for many, many years. Reasonable price. No fuss returns/exchanges when things don't fit. No hanky panky T&Cs for their vouchers.

I just wish they brought online shopping to SEA. I already know the shirt + size I want...I rather buy from my home.

I wonder why it's rallying.

Coming qtr should be positive lah...

I will say if you don't want to sell, don't buy either for the time being. This stock was actually running ahead of itself. I made a mistake buying at such a value. When I bought I just saw at RM0.465 it was at a low point. Didn't do much analysis. In fact now I have to revise downwards to RM0.33 my re-entry point to average down at 1.5X P/BV.

Damn. What a mess! Still think long term this company will do good, but might need to suffer some pain in the short term.

Mahorse, yeah I think hibernate. It will probably get a second chance in the coming quarter. If it doesn't hit ROE of 3.5% I will sell, no point holding cause if the ROE can't keep up with the book valuation then it is overvalued. I will also sell if it hits RM0.48 for whatever reason this Q. Exit with no loss then.