A few months ago, I commented that US recovery will likely be resilient due to the nature of their economy where 70% is derived from consumption. So far, jobs are holding up well and wages are inching up. Companies with large exposure to the US market should do OK.

Ricky is right, would you sell FLBHD knowing full well next quarter will see a forex boost since ringgit has weakened 5% against USD since 31/3/16? If forex is your thing, then maybe playing forex directly is better than jumping in and out of stocks and paying brokerage everytime you do so. Excluding forex, core eps is around 6.7 cents, not great, not terrible either.

Thank u for the nice table identifying the activity of each player.

Unrealised foreign exchange loss 2,165,000
Net fair value (gain)on financial instruments measured at fair value (1,494,000)
Realised foreign exchange loss 5,009,000

Net forex loss 5,680,000

I will be cautious. Many soft commodities are trading at all time low. Some of it are so low that producers are losing money. This may cause a halt in investment which may potentially drive up raw material price in the future. Be cautious of buying MFM at the trough of soft commodity cycle.

US new housing starts rose in April.

Look, if he doesn't want to be bothered with the trouble of disclosing, simple, just stay below 5%. 4.99999% pun tak apa. Nobody will complain. But you, your wife, your cat, your dog accumulating 10% quietly is against the law. If u want play the game, then u follow the rules just like everyone else. If u don't like, then stay under 5%.

Najib must be pissing in his panties that Singapore don't play play when it comes to corruption. He's stupid enuf to have his swindled money parked there.

How long did it take Mr koon and wife (person acting in concert) to accumulate 10% in Flbhd? 6 months perhaps? From 5% to 10%? 3 months perhaps? If Mr koon is sincere in meeting disclosure rules, he will find ways and time to meet them. The fact that he opens a ton of accounts to trade and uses proxies to trade gives the impression that he is intentionally circumventing disclosure rules, with the hope that nobody notices and nobody cares. As a multi millionaire, he could have hired a dedicated assistant to compile his trades if he wishes. Reading his explanation leaves a bad taste in my mouth. I hope bursa pursue this matter to ensure fairness in the system.

Tell ppl dunno bullshit one lah. Imagine if he crosses 33% threshold is he going to say dunno, sorry, no money to do MGO?

It is stupid to say that he didn't realize he crossed the 5% threshold (10% if u count his wife too). Can big players feign ignorance I'd they cross the 33% MGO threshold? Oh sorry I didn't mean to buy that much, I don't have money to do MGO. Most likely he intentionally crossed it and now pretending he crossed it without realising it.

http://www.nanyang.com/node/760866?tid=643

http://www.nanyang.com/node/760866?tid=643

KC Chong doesn't sell get rich quick scheme. KC Chong doesn't ask you to take on excessive risk by using margin financing. KC Chong doesn't pump and dump. He tells you to be patient, work hard, and eventually you will be rewarded. He's the good boring neighbor that nobody wants to listen to until you get burnt and realise his words are wise and his intentions are good.

To my knowledge, Mr koon has never disclose buy or sell after he becomes substantial holder. Not for Vs, not for latitude, not for liihen and not for Flbhd.

Mr OTB said that KYY is just 2 days late only worr. Ptui!

Promoting is a grey area. I think it is only illegal if it is a pump and dump operation, which is hard to prove. But late disclosure is a clear wrong, easy to prove. I go with the easy one.

@cpng, 对了，他就是用syndicate的手段骗钱

No, I didn't complain about OTB because I can't find any angle to incriminate him. Mr Koon might be backdating his Form 29A to make excuse he forgot to mail it out.

Kyy just disclosed his stake in Flbhd. Bloody late as usual, annual report exposing his substantial stake was out on 30/4

SC acknowledged receiving the complaint (see below). Feel free to add on to my complaint.

Dear Sir/Madam,

We refer to your email below.

We will look into the matter and take necessary action should there be any breach of the securities laws. For further clarification or if you have any further information to be submitted, please do not hesitate to contact our officers at 03-62048999.

Thank you.

Regards,
Mitasha Ramadasan
Investor Affairs & Complaints
Securities Commission Malaysia

Welcome back!

Kyy throw tantrum fatlanzar

Many months ago, when Mr KYY was boasting how much he made from VS, I made the comment about his aggressive buying contributing to the rise in share price. I then ask him how is he going to liquidate his huge stake without causing a collapse in share price. Well, today we know that KYY intends to break disclosure rules to prevent share price from collapsing. What a shame, I had huge respect for him for his scholarship program.

@cpng Done forwarded to SC. I didn't lose money due to Mr Koon, I'm just doing this as a public service to the investment community.

@chabalang Done forwarded to SC. I didn't lose money due to Mr Koon, I'm just doing this as a public service to the investment community.

Sure, usually bursa very lembap one. They will usually acknowledge receiving the complaint and after that usually no news oledi. If got update will post. I also sent the complaint to Star Biz, hope the press picks it up.

Below is my complaint to Bursa over KYY's non-disclosure of his substantial stake in FLBHD:

I wish to alert the regulators that Mr. Koon Yew Yin has also failed to disclose his becoming a substantial shareholder of Focus Lumber Berhad (stock code: 5197). According to the 2015 Annual Report, Mr Koon Yew Yin and wife Ms Tan Kit Pheng hold a total of 10.04% of shares, way above the 5% threshold requiring disclosure of interest. Mr Koon Yew Yin holds 6.72% while Ms Tan Kit Pheng holds 3.32%. Their names did not appear in the 2014 Annual Report and that should imply that their significant stake is acquired during the later financial year.

Mr Koon Yew Yin gets around disclosure rules by dividing their shareholding into multiple accounts. A total of 9 accounts are used, 6 for Mr Koon Yew Yin and 3 for Ms Tan Kit Pheng. None of the accounts exceed the 5% threshold.

My question to Bursa is:
1) Is it legal to circumvent disclosure rules by smurfing a substantial stake into multiple accounts?
2) Is it legal to circumvent disclosure rules by smurfing a substantial stake through other persons acting in concert?

If it is illegal to do so, I hope that the regulators take action against those breaking disclosure rules to preserve the integrity of the market. To encourage retail participation, Bursa must be free and fair. Information asymmetry will only serve to reinforce the perception of unfairness.

Thank you.

Below is my complaint to Bursa over KYY's non-disclosure of his substantial stake in FLBHD:

I wish to alert the regulators that Mr. Koon Yew Yin has also failed to disclose his becoming a substantial shareholder of Focus Lumber Berhad (stock code: 5197). According to the 2015 Annual Report, Mr Koon Yew Yin and wife Ms Tan Kit Pheng hold a total of 10.04% of shares, way above the 5% threshold requiring disclosure of interest. Mr Koon Yew Yin holds 6.72% while Ms Tan Kit Pheng holds 3.32%. Their names did not appear in the 2014 Annual Report and that should imply that their significant stake is acquired during the later financial year.

Mr Koon Yew Yin gets around disclosure rules by dividing their shareholding into multiple accounts. A total of 9 accounts are used, 6 for Mr Koon Yew Yin and 3 for Ms Tan Kit Pheng. None of the accounts exceed the 5% threshold.

My question to Bursa is:
1) Is it legal to circumvent disclosure rules by smurfing a substantial stake into multiple accounts?
2) Is it legal to circumvent disclosure rules by smurfing a substantial stake through other persons acting in concert?

If it is illegal to do so, I hope that the regulators take action against those breaking disclosure rules to preserve the integrity of the market. To encourage retail participation, Bursa must be free and fair. Information asymmetry will only serve to reinforce the perception of unfairness.

Thank you.

I refer to the recent uproar from the late disclosure by Mr. Koon Yew Yin on his ceasing to be a substantial shareholder of V.S. Industry Berhad (stock code: 6963). This story is covered in The Star newspaper on 7th May 2016 titled "Koon in the spotlight over untimely disclosures" which can be found here: http://www.thestar.com.my/business/business-news/2016/05/07/koon-in-the-spotlight-over-untimely-disclosures/

I wish to alert the regulators that Mr. Koon Yew Yin has also failed to disclose his becoming a substantial shareholder of Focus Lumber Berhad (stock code: 5197). According to the 2015 Annual Report, Mr Koon Yew Yin and wife Ms Tan Kit Pheng hold a total of 10.04% of shares, way above the 5% threshold requiring disclosure of interest. Mr Koon Yew Yin holds 6.72% while Ms Tan Kit Pheng holds 3.32%. Their names did not appear in the 2014 Annual Report and that should imply that their significant stake is acquired during the later financial year.

Mr Koon Yew Yin gets around disclosure rules by dividing their shareholding into multiple accounts. A total of 9 accounts are used, 6 for Mr Koon Yew Yin and 3 for Ms Tan Kit Pheng. None of the accounts exceed the 5% threshold.

My question to Bursa is:
1) Is it legal to circumvent disclosure rules by smurfing a substantial stake into multiple accounts?
2) Is it legal to circumvent disclosure rules by smurfing a substantial stake through other persons acting in concert?

If it is illegal to do so, I hope that the regulators take action against those breaking disclosure rules to preserve the integrity of the market. To encourage retail participation, Bursa must be free and fair. Information asymmetry will only serve to reinforce the perception of unfairness.

Thank you.

Contributor like icon leaving and someone who breaches disclosure rules given special treatment? Where is justice?

First in, then out, now in again. Following fayetan's calls is a lot like having sex.

As i write this comment, Rm appears to be weakening again. Maybe Latitude Tree will be fashionable again tomorrow haha.

Poor research. FLBHD's plywood is used specifically for RV (Recreational Vehicle). It is a niche product, not a generic product. That's why margin is high and cash flow is strong.

Well for guidance the Aussie is tanking.

I think aspire insight walking away from the kianjoo deal confirmed my worst fear: tin can industry may be in terminal decline.

http://www.motortrader.com.my/news/new-monthly-sales-record-for-mercedes-benz-in-march/

Not just in Malaysia, but globally as well.

Z Blogger doesn't really know that it is very very rare to have private placement at market price. To me that put the while placement in a positive light, notwithstanding earning dilution.

Freezing supply at record high output does not address the supply demand imbalance, it only enhances sentiment. This is especially true when Iran and US are not participating in the talks. What they really need is to cut supply, not freeze supply.

Can u stop typing in capital letters? Hahaha

Icon8888 I think investors should remain humble in the marker because we know how easy it is to get caught with our pants down. Not fayeTan, she thinks she can move markets, professional accountants listens to her and she dictates price movements hahaha

Haha. So the mighty fayeTan has a monopoly on thought. Just because others are thinking of the same topic, it must of coz come from your highness. Ok to satisfy your narcissism some more, yes your highness oil price will hit sky high, rm will regain its former glory and export stock will tank. Your highness is always right.

U r thick skinned and an absolute narcissist. U r claiming credit for an article that actually disagree with your views. Y don't u learn English and read the content first before posting instead of reading just the headline? I guess u never learn your lesson, last time u also screwed up in your analysis of shell because you don't know they lost money due to maintenance. Auntie, read the content, don't just read headlines.

Thanks for sharing.

Look around the world, other than US, which country is growing? Almost every country is loosening policy to stimulate growth, and US is the only country that might raise rates this year (although at a more gradual pace than originally intended). Where else do you find growth in today's economy if not US? I am bullish on US consumer play, in particular Liihen, Latitud and SHH because:
1) US economy is resilient to external slowdown because 70% of GDP is derived from consumption. This means that when the economy gets going, it keeps going.
2) US jobs market has been improving steadily. Unemployment now stands at 4.9%, down from double digits after the GFC. Finally, even the anemic wages saw improvement with a 2.2% increase y-o-y.
3) US housing start has been improving steadily.

Investors still remember how the directors kept quiet after their Petronas license is cancelled. They only disclose this critical information after SC reprimanded them. Won't be fooled again by these bunch of dishonest wolves.

Mark mobius is a perpetual emerging market bull. His funds are all focused on emerging market lol. Of coz lah deng.

Well, do note also that Mark Mobius underperformed the general market for the past few years by buying too many mining stocks.

Thanks for sharing your analysis. My biggest fear regarding Canone is that there is a fundamental shift in the industry. This quarter, all 3 can producers Canone, Kianjoo and Johortin posted poor results. I wonder whether the prediction made in the past regarding tin can being a sunset industry is coming true. Many predicted the demise of the industry from competition from plastic. And why not? Plastic is cheaper and easier to manufacturer.

Another troubling sign is Aspire Insight seeking another extension from 31/9/15 to 31/3/16. They have years to do their due diligence, and yet when it's time to close the deal, they kick the can down the road, no pun intended. And despite a lot of talk, Toyota Tsusho has not thrown in it's hat. Are both companies waiting for more clarity on the prospect of the industry? I don't know.

We will know in 2 weeks time whether the Aspire Insight will close the deal. Fasten your seatbelts.

I lost all respect for KuLi. All the progressive articles he wrote are just bullshit. Can't believe this spineless fake was a PM candidate.