對於中國的近代史，我們必須認識到中共在執政期間的首三十年是相當混亂、貧窮與殘暴的。

鄧小平復出以後，制定了國家領導人任期制，五、七或九位常委共同領導國家以及實行市場經濟的改革開放，才穩定了國家的發展。

但是這三項重要的舉措，已經被習近平通通推翻。

以史為鑑，中華民族千萬不能再出一個神經病的領導人，不然又是悲哀的五十年。

順帶一提，你知道大躍進嗎？

解放／淪陷以後幾年，老毛說要大躍進，基本上是把稻種得密密麻麻的，結果當然是產量暴跌。但是在地官員卻爆大數以顯示政績，結果造成糧食都被抽稅抽走了。那幾年間餓死了數千萬人。

中共隱晦的說法叫「三年自然災害」！

於是人民開始派人偷偷上訪北京去告知實際的情況，每每都被地方官派人攔下。

只有「信陽」一地，有人突破封鎖，到北京見了時任國務院副總理習仲勛，習的老爸！這叫「信陽事件」！

所以習的老爸救了數千萬人，結束了一場浩劫，造就了以後習的仕途開闊。

至於那些覺得我們民族的尊嚴再次被踐踏的同胞們，其實並不是那麼一回事。

首先，文革死了多少人，大躍進死了多少人？在共產黨手下的亡魂百倍於被日本人、八國聯軍期間犧牲的同胞。天安門算是小兒科了，雖然那同樣令人悲催。

說到貿易戰，簽了合同買些健康的豬肉、品質好又便宜的大豆對於中國人民百利而無一害。開放金融保險等更是對工商業有利，你要知道中國的金融是超級爛的。地方政府債券不還、國營破營基本上就是你不好彩了，更別說那些網上平臺了。

至於說間諜、收購媒體影響輿論，別說澳洲、台灣、英、美、歐等地都有感受、有報導，就以我國為例，如果某博士沒有收錢，習的那本書可以拿到學校去派，醬有錢？如果不是刻意安排，醬容易拿到習的面前而老馬不知情？

美國曾經是中國最好的朋友，但是中國卻暗地裡有自己的打算，結交的都是美國的敵人，像朝鮮、伊朗、俄羅斯這些壞孩子，暗地裡跟美國作對。現在中國的盟友還加上一個塔利班，所以美國佬剿了伊斯蘭國，中國自然不高興了。

到了特朗普上任，他認為中國這些行徑不對，就不要跟中國做朋友了。供應鏈可以跟越南、印度這些乖孩子合作，而中國這個世界工廠，打算大力開發非洲，祝君好運吧！

萬一菲律賓倒了，下一個就是大馬，輪到我們說要光復大馬了。

Over the past twenty years, its surprising so many people has turned to love Communist. Just because China is thought to be wealthy.

Now China is starting to become poor again, those Panda huggers should go invest in China.

The beginning of the lost 3 decades.

That's the financial sides of the story.

你看美國有制裁OPPO，VIVO嗎？人家段永平還去跟巴菲特吃午餐請益，發財立品，高下立判！

任總這叫賊喊抓賊，死性不改，冥頑不靈，在錯誤的道路上越走越遠！人家說你偷東西，你要嘛認錯受罰、承諾不再犯，要嘛辯解說那是誤會！任總將事件民族化、仇恨化，最終華為的隕落只會是一個case study而已！

小伙伴們，林奇大師說能源服務很糟糕，要留心了。

感謝林奇大師依然不吝賜教，受教！

大馬有一些成長股，一些成功一些失敗，時運以外，就是執行的功夫到不到家了。

作為投資人，能夠準確判斷到底哪一樣事業有前景，哪一間公司有及格的執行力，內裡的智慧不少。

貿易協定簽了會好一丟丟，但不簽就真的完蛋的。

Oh my god, I know who you are.

Choivo, you are next to my cell. Keke!

Yes, action must be taken. “Like” Choivo.

Nobody would think Choivo is irresponsible (except the author)

Probably the author should keep his mind open. Who knows Choivo might be right and save your ass.

Its a new economic phenomena I guess.

Unlike Bearstern, Lehman, etc, China banks, P2P, local counties, SOEs went bankrupt => is just bad news for debtors, no rescue and nobody takes over the burden. (That's Xiconomics)

It will still hit the banks but less severely to the central banks or central government. Ordinary investors are the group that suffer the losses, consumption (and investment) would be extremely weak.

We are seeing a new wave of immigration to the world from China.

China government fixing everything to prevent price drop.

Choivo, good attempt.

I think the key is some company just invest invest invest and never get back their money after so many years. Only a handful does.

What Choivo did is not categorised as fake news or rumours, by the way.

Again, investor education is very important.

說得很好。

只是kuat-ter, kuat-ter的，聽不慣。

Just a word, now oh, international community has exposed everbright is linked to China's spy network.

TF lucky (or its not luck) not go ahead with the JV.

Seriously, the US economy was rather bad for the last couple of years, until recently it has changed. The current robust economy gives consumer the choice to renovate the house, buy new furniture etc, which has been overdue for some time.

The credit card figures will start coming down in a few quarters.

Same as China, the US residents can eat grass for 3 years too.

看起來不錯喎！

Anwar is our last hope.

Anwar is our only hope.

The new government (used to be our new government) change schools into, change grab into taxi, “deprove” everything, soon we will be comparable to some Pacific island.

What you should do is to sell KFC on plane, who would want your chicken rice if there are better choices.

腦袋發熱，自以為是！

Those who lose money in LayHong should report this Herbert Chua for.....(financial crime)

OMG.

You big liar.

Now Mr. Yap Chor How can sue you.

華為一向如此，大驚小怪

Since you claim to be a substantial shareholder, why don’t you go F... the Yaps face to face? Share us your bravery afterwards.

You are boring and annoying. Stop being a bitch.

OMG, he forgot to take medicine again.

Mr Tan, somehow can you ban him? He single-handed downgrade i3 from AA- to BB-

Few months ago reloan at Alliance Bank, bb HL bank. The loan officer switch from Maybank to Alliance Bank. I ask her why? She said Maybank (CIMB also) kind of combine everything sell together. That's why the huge revenue and high margin (because of low average cost).

I would think this will not work in the longer term. Get one loan and need to buy many accessories which is wasting money and time.

So I like Alliance bank to be small and beautiful.

The problem with Alliance bank is just too small compare to other banks. However, in my place Alliance bank is everywhere because they took over a local bank some years ago.

Used to be multi-purpose bank, slowly evolve till today. In the early days no internet have to go counter to check balance. I think the branding is quite consistent now.

Would like to buy more abmb but no hurry. Got 2 2.5PE explosive stocks eager to buy more.

Old Master Q（老夫子） found a thief in his room. Suddenly Old Master Q laugh at the thief and said: "If there is anything valuable I would have found it."

Same goes to Lonbisc, don't you think the owner would have cash out if there is hidden value?

不是那麼容易逃得掉的。

Account is the language of business. We need to see if the language spoken is consistent with the reality of the business.

You know, in the early years, if you look at Gillette, the accounts were terrible too. But when Warren bought it, they already had the breakthrough on the blades.

That is the beauty of investing. Much more complicated than numbers.

Always walk the extra mile, check harder.

You are right.

However, you know, what QL was listed years ago, I look at the accounts and I had the same doubt. Account receivables were entirely finance by borrowings. So I passed. Surprised, surprised, just missed a 20 baggers.

Err, confusing article.

"earnings hits (above and/or in-line) and misses at 70%:30%" only shows your (or the general market) predictions skill has improved somehow, it doesn't show market has improved.

"Account clerk" Herbert Chua/Yap/AlanNga cannot predict profit level accurately. 40m vs 1m. Primary school kids did better than that, don't even mentioned the sotong.

3iii, his field mah, so he a bit annoyed by it.

You know, Account is very different from Finance, although both under same faculty usually at university level. Maybe this Herbert thought being an "account clerk" knows how to buy shares. (sure can buy, but profit or not another matter)

What makes you think you can hold longer than the KIWI or those resigned CFO, directors?

Well, Victor, now the kiwi runs away too. After 2 or 3 years???? We saw similar pattern in 1MDB, in a more severe manner of course.

Victor, don't just read the news release only. Try to see if it is articulated, see if it makes sense, get a genuine calculator or spreadsheet to type in the numbers to see if it is alright.

HengYuan China is the champion of the world in pollution. They pollute to profit (of course now they cannot do the same anymore). That is what I said before the magnificent Hengyuan rise, this is just what I choose not to profit from.

What sslee did is a good start, but was that effective? Maybe he needs a better strategy.

Just noticed CFO also changed. Good luck! Stay alive!

文章寫得不錯。最後一句則是敗筆。

The new government (used to be "our" new government) is disturbing the rakyat while avoiding its responsibility.

Nevermind. They will never changed.

We will change them, again and again until we can find a better one.

ks55, well said.

I repeat my observations:

i. previously the good results were to get loan.

ii. China HengYuan doing well.

iii. Reputable directors resigned long time ago.

iv. Very little hope still in the hands of the kiwi CEO.

You will hate them lesser after your period. Then you will say LH will rise to the sky again.

Why didn't the company right issue earlier? it would have been able to cover up the debts. Is it the owner deliberately bankrupt the company given bad economic environment? Anyone knows?

My guess is No.

Firstly, ignore the noise, the highest status body foreign affair only said "oppose", no retaliate action mentioned. The retaliate action only mentioned by lower rank government agencies.

Secondly, if you look at Xi, he always back down if he face strong resistance, or vice versa. For instance, India was aggressive, so China back down, not to build the road. For instance, Philippines was soft, so Chinese got the island.

Repeat: Air Asia should focus on profitability rather than market domination. Marginal cost pricing is a choice.

Well, look at the bright side, at least you pull it back together, AlanNga has disappeared. Good on you, bravo!!!! Congratulation!

(Guys, be nice to patient!!!! Keke)

Icon8888, you are right!

The most difficult task in investing is to spot the turnaround point. (Got 4/5 this time, yummy!)

Look through the QR, say something.

The effect of selling aircrafts were said to be -400m, don't know why it became so bad now (its more like -1.6b every year now).

Looking at the numbers, load factors etc, one may wonder how can the company turns profitable unless they have 90% load factor etc.

Yeah, hk, macau was affected but it will continue to be affected.

Yeah, I agree it takes long time to recover. Especially now MAS, Malindo are going price competition too.

My advice is, Airasia should focus on profitability rather than market domination. You can't kill a company unless they give up themselves.

Last year Airasia suddenly increased capacity by 17%, in one quarter. They are biting the bullet now, at the same time make the shareholders suffer too.

P.S. I really can't understand the new accounting.

Well said.

People suffered for too long, can't wait to sell. Lol