A comment to investors relying on analyst reports to buy shares. Let me quote one analyst report that I found in this website.

In 27 February 2018, the analyst projected 37.4m profit for 2018.

In 1 June 2018, same analyst projected 27.3m profit for 2018. Question is what happened to the 27 February 2018 projection as it's only 3 months and the whole projection changed from 37.4m to 27.3m?

Yesterday’s results according to the same analyst, an actual 25.8m profit for 2018. From 37.4m to 27,3m to 25.8m.

Can I rely on analyst recommendations to buy shares? I am not saying that all analysts are unreliable, but I wish analyst can provide us with more realistic insights about the company to help us make better investment decisions.

Again, this analyst is projecting 32.8m profit for 2019. Do you think I should rely on the projections ? This is a “OUTPERFORM” call. What if PAT for 2019 again being revised downwards and do you know I will lose a lot of money again?

DEAR RESEARCH ANALYSTS, ARE YOU SURE YOU KNOW HOW TO ANALYSE A COMPANY? All the BUY recommendations from analysts have caused me huge lost because of this counter. Below are my simple views as a concerned shareholder but I may be wrong.

1) Revenue and PATAMI start to decline. I thought the company has invested in profitable business with few rounds of capital injection, and this should enhance the old business? Looks like old business no longer contributing much to PATAMI?
REVENUE => Year 2015 = 316m, Year 2016 = 402m, Year 2017 = 492m, Year 2018 = 457m
PATAMI => Year 2015 = 24.8m, Year 2016 = 26.6m, Year 2017 = 24.6m, Year 2018 = 24.1m

2) Same PATAMI but now with lots more debt (5 times compared to 2015)? Assets producing results? What is happening? Take note that there were rights issue in 2015 and placement in 2016 too, meaning lots of capital injections went into the company.
Debt for Year 2015 = $36.0m + $52.0m = $88.0m
Debt for Year 2018 = $313.3m + $175.1m = $488.4m

3) Trade receivables almost doubled for similar PATAMI?
Year 2015 = $164.0m, Year 2018 = $306.8m

4) PE for such non-growth company worth more than 20? It is already few years of non-growth in PATAMI. Should this counter be valued as a non-growth company without dividend policy…. PE less than 10?

5) The only growth story is tower business. Can OCK start to report tower financials since it is now core business and OCK is highly dependent on towers according to the announcement? And as a shareholder, I demand that OCK management to start report on the tower business separately.