Thanks for your inputs. I couldn't agree more with you that i like business model that is replicable and scalable too. Too bad capital intensive business usually are not attractive enough given that capital expenditures are require to just maintain its operation. It seems that you often look quite a big picture and ignore what investors can be excite with short to medium term earnings.

Philip sifu, thanks for your insight. I think they didn't focus much on property developers, but a limestone producer. They are the largest limestone producer by far in Malaysia. Anyway what catch me with mfcb is that 29million from Don sahong is derived from 35.1million revenue and that's without full capacity. If i got my calculation roughly correct i believe this coming quarter it should contribute 50million to 70 million from Don sahong, probably 100million when its a wet quarter. With these kind of cash flow seems paying its 746million borrowings isn't an issue, and it's an flexi USD loan that with fed rate now its reducing until less than 3% (saw an report it can save USD5million a year). Other than figures and probably weather that affect level of water, i feel I don't really understand much with this business very well at all. Could you share some views of yours that why its a riskier business? thank you in advance

Philip sifu, I believe you have missed out learning_investor question on mfcb. Can you share your insight on mfcb as well? Do you think it’s as risky as jaks in the moment? Appreciate if you could share your view on it.

DK66 sifu, this IFRIC 12 is actually introduced on 2008, but it doesn't adopted since lately years. So far i have not seen any BOT concession is still using straight-line method. Thank you for pointing out power plant asset cannot be recognised as concession asset under new international accounting standard. i didn't acknowledge that, could you send me any useful links for me to read? thank you

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On depreciation, there is no clear indication that reducing balance method of amortisation should be used. Straight line method is still most widely adopted

"The most appropriate method of amortisation of the intangible asset is usually the straight-line method, unless another method better reflects the pattern of consumption of the asset’s future economic benefits. However, in some circumstances, where the expected pattern of consumption of the expected economic benefi ts is based on usage, it may be appropriate to use an alternative method of amortisation." - IFRIC 12

In any case, the new international accounting standard will not allow power plant asset to be recognised as "concession asset" anymore. The asset shall be recorded as Loan receivables and repayment will more or less reflect a straight line pattern.

icon8888 sifu, your assumptions on depreciation is very wrong. Depreciation costs are usually higher at first and decreasing year by year. suggest you may look for some info on IFRIC 12. Basically when factor in Depreciation & amortisation you will get a completely different figure, but i am not sure we can able to see them one day since jaks only have 30% minority stake in this power plant. Track record of integrity is not on the right side for jaks management.

I am very amazed by how fast this company can burn their cash...

i know there's too many ppl focus too much on macro side, they worry that demand of smartphones, tablets, laptops, pc and automotive will be affected by covid pandemic. it turns out tablets, laptops and pc are hot selling products during lockdown due to work at home approaches. You see we can't do well if we predict on macro side. Even most end products will be affected near short future most likely, it will not affected MI. It is industry nature itself that Mi's clients are doing capex prior demand. They look at what content 5G phones are bringing them even they foresee short term disruption. They also look up foundries tsmc and samsung inventories data. Supply chain disruption is a very short term effect that might not happened on mi at all too. Look at few years ahead where this company can goes, i personally feel this company culture are leading good by mr oh. how far and fat it can goes?

cash cow engine just start, 700m borrowings is just peanut to them now

i did not sold a single shares, in fact adding 500k shares with margin this week with average above 2.

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monetary wow! popo still holding? haha.... I sold before the crash. Buying back a little late.

still got tons of money behind. don't be so shortsighted

Post removed.Why?

I believe mr Ooi have done his best for his subscribers. All I see from him is hardwork and integrity, he inform instantly with his portfolio and keep learning everyday. Even though I don’t follow his stock pick, but he has good proven track record. Unless one can prove you can beat him, criticizing ain’t seems convincing. My suggestion to mr Ooi is try not to please clients and do too frequent stockpick, and use qualitative analysis rather than quantitative FA analysis. It’s not worth it to put yourself into the game.

demand isn't a big problem, but selling price of products definitely is compressed. we will see short term lag from feed cost. it happened 2017, and history will repeat itself.

thumbs up!!! hopefully sslee don't waste time begging for an insignificant dividend anymore.

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Posted by leno > Apr 17, 2020 11:15 PM | Report Abuse

i tell u ... u go agm dun waste time tok kok ... just ask BOD what they plan to invest, acquire and buy. Just shut up and listen. Do not argue ... LEARN from them, how they value company, what is their strategy, what is the opportunity, where and when. Share price is not their business. Their business is investing. If u ask these ... i tell u, they will be so HAPPY to share their valuable view. Ada faham ?

I put my bet on QL. 10 years, it’s a no brainer who will win the race.

vitrox is not OSAT companies though..

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This is how I would start my qualitative scuttlebutt OSAT companies if I am looking to invest in one for the long term.

Which does inari, vitrox and others fall into?

The required content of rf on 5g phone is almost double on 4g phones. Also even though apple is biggest contributor to broadcom, they also sell rf chips to other smartphone players like huawei. The only rf chip players so far is broadcom, skywork, qorvo. in term of innovative and quality, skywork and qorvo is still far away from broadcom other from their cheaper price (mainly use on budget phones). broadcom rf is still very niche on premium clients selling premium products. The rf chip future isn't as dark on broadcom as most of their rf are only for smartphones now. In future 5g iot will drive more beyond smartphones to automotive, pcs or laptops, meters and so many possibilities. Inari will no doubt benefits contents require grow exponentially. In fact, what inari management foresee their rf orders will double within years are not possibility, but certainty.

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Philip ( what you can learn from RJ MITTE )
Yes this is true, but Apple will not sign a fixed minimum supply agreement, if their smartphone sales drop as per management guidance, then rf orders will also drop.
Personally at the price sold per phone, without a clear differentiator between Android phones and Apple phones, the long term prospects of the hardware supply will only reduce with time.
This is not a possibility, this is a certainty.

Having said that, Broadcom is not selling their rf business anymore. Broadcom hock said this

Post removed.Why?

funny to see at such market sentiment still there's ppl wishing to chase high

Posted by OTB > Mar 13, 2020 8:17 PM | Report Abuse

My 2 cents opinion only.

1) 2020 is US president election year, normally I assume US stock market will not crash (Not 100% sure) in election year.
2) 2008 stock market crash was due to Lehman Brother Bank collapsed and also sub-prime crisis.
3) Presently all economic data are showing positive sign after a big reduction of corporate tax from 25% to 15%. A lot of money in the corporate world.
4) The Fed just reduced the interest rate by 50 bp last week.
5) I believe the Fed will reduce interest rate again next week.
6) Fed Reserve to inject at least USD 1.5 trillion, another QE.
Thank you.
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Thanks for the input, OTB. hopefully there's no more coronavirus panic.

Dear OTB sifu, the economy figures will only look bad this march isn't? it still depends on how the virus can be contained. But i do think the market have over reacted. Hopefully it is just a correction like you said.

condolence

Oh seems like many sifus come out and bad mouth criticise jaks now... good lucks to those who still believe in what they are holding.

the only cost is time now..

Should gst come back and save the country?

Is the worst over? Only mr koon knows....

why market does not give SAM high pe? look at their margin.
Dufu =19%
UWC = 23.4%
greatech =30%
MI = 25.6%
SAM = 9.3% ,

i am not saying SAM is not going to be a good pick it's still growing comfortably but look at those semicon exposure business they are so lucrative and most are still growing and expected to grow more 20%. its just an opinion of mine

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To arrive at Target Price, I will leave it to you to decide what PER to apply. For comparison purpose, its peers Dufu, UWC, Greatec, MI Technovation etc are all trading at PER of more than 25 times.

results expected as i have warned early february...

i still doubt there's actual cash flow instead of accounting profit from Hai Duong plant, in future. it will be in an typical insas situation i afraid. i hope i am wrong...

QL eggs taste better? LOL

hehe add more first before waiting 5

qqq33333333 sifu, sorry I couldn’t understand the connection of comments between ours. But I 100% agreed with your comment haha
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by popo92 > Feb 25, 2020 11:37 AM | Report Abuse

Philip, don’t be too harsh on kc.

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what u don't realise is the best way to learn some thing is to learn
the exceptions to the rule.....the best way to learn how a machine works is how it breaks down.................and yes, the most assured way to lose money in stock market is to follow some mechanical rules.........


so what is intrinsic value? U buying over the whole business? u doing a take over?


u read enough research reports , u know 90% of the time............the intrinsic value of the analyst is within +- 10% of the share price................meaning, he has no idea, don't know...........hahahahaha............analysts not enough tools and formulas meh?

I guess he’s still good at quantitative analysis teaching. But beyond that, I am not sure. Your philosophy on qualitative investing is what I really like about. I have read many comments on you elaborate your thoughts on many companies. Quite through and through to be honest. Kudos to all altruistic sifus sharing.

Posted by Philip ( 屁股翘翘!! ) > Feb 25, 2020 1:40 PM | Report Abuse

I totally agree. And I would not have said anything, except that for someone who is supposed to teach fundamental lessons, he finds the gall to comment heavily on i3 forum on dayang, eversendai, ql, kyy and myself for great stories.

But, if his investment methods were really good I would totally follow his analysis.

But I guess it is hard to find a good teacher out there.

Philip, don’t be too harsh on kc. I still have great respect for him teaching very basic fundamental and spending so much time writing so many useful stuffs for beginners. Yes he may not prove he’s a great investor who make tons of money but he doesn’t need to prove he’s one. It’s his choice. Whether he’s an average or shrewd investor, he don’t deserve be to critised after all.

Still same advice, dumb dumb hold

i sold all above 1.5 before quarter results... something seems not right

Now management decided not implement scr, kudos to mbl and those who think is not fair. But no more take over deal, I doubt it’s a win-win situation for retailers.

hehe you guys left the great pastor Calvin no choice but to use the name of god to promote netx...

i don't have to buy lowest, i feel this price is attractive enough for its stability...

bought in 2.40, will buy more after probable bad qr

my biggest concern is also the diminish of moat, supply seems coming from many places globally. Many is aiming southeast asia market too. my insight on this is fairly incompetence although i am still holding big on pchem.

anyone here still buying dutchlady milk? i have not bought any dutchlady milk for more than 10 years.... there's so much choices now compare to many years back...

use EBITDA as a parameter and you will see a different view

comfort have not been paying tax for quite a long time, they are still paying minimal tax now. expected to used up unabsorbed loss even without factoring new accounting law.

move on already dude

No earning impact FY2021

CAGR is my main parameter, how much growth can this company grow further 2-5 years ahead? The more it goes the shorter we ride to goals. How long it takes depend on individual appetite. For mi, the prospects it seems fulfilling most appetite. Especially it’s at such exciting cycle of 5g... I would say it’s just the beginning.

Sell for good profit, hold for quick retirement. Your call

Dumb dumb hold