1.The 1 for 3 bonus shares have become a near certainty. The extra general meeting to obtain shareholders' approvals has been fixed on 6th. May 2024. Investors who has the strength and stamina to hold onto the shares will be rewarded handsomely.

2. It is surprising that there has been no news on the placement shares considering that the EGM for bonus shares is just 3 weeks away.

3. Market is anxiously waiting for the news and development on the placement shares. Once it is done, the new shareholders with a 10% stake in the company will will have and interest to sustain the share price at elevated level.

4. Seng fong for the past few trading days had closed between 106 and 109 with intraday height reaching 111 on considerably big volume.
5. Once, this is broken, better days are forthcoming.

6. Happy trading
15/4/2024

1.No one would respect you and your one line utterance of *pp will kill u* until you support it with an analysis and substantiate it with facts and numbers.

2. In the spirit of sharing, learning and earning together and for the benefits of fellow members in the forum, Lee YY could you write an analysis to enlighten us in what way and how PP would kill anybody.

3. In the meanwhile, many and I remained undeterred and unperturbed by your single line expression.

4. The ball is in your court.
Awaiting your response.
22/3/2024

1. Lee SK has a string of corporate exercises. In addition to the 3.5sen cash dividend and one for 25 dividend in species it has again on 14/3/24 announced in is filing with Bursa to reward its long term shareholders with a bonus issue. For every 2 existing shares you will be rewarded with 1 bonus share on a date to be determined subsequently.

2. Despite the positive news, share price did not move much yesterday. Where do we go from here?.
3. LEE has EPS of 8.13sen say 8sen. Before the announcement of cash dividend, share dividend and bonus shares the price was 70sen. Hence, the PE multiple then was 9x. Share price usually trade in advance of fundamentals and it has gone up to 1.20 leading up to its filing with Bursa. At this price ,the PE was 15x

4. It gradually retracted and upon announcement yesterday share price did not move much and close at 108 and a PE multiple of 13x.

5. What will happen next?
The company now has issued and paid up capital of 167m shares. Upon completion of corporate exercise, the issued capital would enlarge from 167m+6.7m+86.8m =260m shares.
6. The company last year made 13.6m net profit. To ascribe a future value for Lee, let's assume the company is able to sustain an earning growth by 25%. Therefore the year end profit will be 13.6 x1.25 =17m
7. Hence, the EPS post bonus would be 17m divided by the enlarged capital 260m is equal to 6.8sen

8. Now, A PE of 10x would price it at 68sen and PE of 11x would value it at 75sen post bonus.

9 with this line of reasoning, we can logically assign a pre bonus value to the shares calculated in this manner.
If the PE is 10x simply take (68 x3)/2=RM1.02
if the PE is 11x simply take (75x3)/2= Rm1.12

11. LEE sk closed at 108 yesterday. In my opinion, it is fully value.

12. This is my personal and layman perception of the corporate exercise and its impact on share price. It is not intended to influence your investment decision and strategy.

13. Have a good day and happy trading
15/3/24

In its filing with Bursa several months ago.
15/3/24

1. The company has some time ago acquired Real Jade a cement company in China for RM240M of which it is still owing Rm119m including interest payment.

2. Mudajaya has a proposal and resolved to undertake a right issue together with free warrant to raise sufficient fund to pay the creditor, Real Jade.

3. The right share has been fixed at 17sen and ever since the share price has tumbled down and for several weeks has been languishing without volume at 13.5sen until this morning.

4. It is not difficult to understand why they must push up the share price to 17sen and slightly beyond in order to attract potential investors to subscribe for the right shares.

5. For any price below 17sen, no one would subscribe to the right shares and the fund raising exercise would fail and the debts will not be paid. There will be implication and consequences.
6. In my opinion, this is the reason for the sudden volume and volatility this morning.

7 There is trading opportunity but the risk is enormous.
You must hit and run to profit from it.
8. I shall refrain.
14/3/24

1.Today is the ex date and for those who have kept their shares congratulation, you are entitled to 1.5sen dividend.

2. Good days have arrived and better days are still ahead of SenFong.

3.By tomorrow it will be exactly 3 weeks in which the company has submitted its proposal to Bursa for the 10% placement shares and the 1 bonus share for 3 existing shares.

4. Traditionally, Bursa will respond within 3 weeks and that means SenFong could reasonably expect to receive its approval.

5 In the coming days when the bonus issue becomes a certainty, there will be volume and volatility.
6 Enjoy the ride and profit from it.

Happy trading
14/3/24

1.Humpty Dumpty sat on the wall. Humpty Dumpty had a great fall from 145 to an intra day low of 106 and bound back to close at 125.

2. Considering that Ctos has 2310m shares and at the closing price of 125, it has collapsed 20sen. This also mean RM462m has been erased from its market capital.

3. At one point in time when share price hit 106 it has fallen 39sen. That means RM900m was wiped out from its market capital all because of a court case that required Ctos to pay RM200K in damages.

4.This is the Suriati effect. The impact is brutal and fatal.

5. Don't mess around with pretty woman.
Happy trading
12/3/24

1.There is value in SenFong and you have been enlightened since Feb 26th.

2.Share price has gone up from 77 sen to an intra day high of 1.03 and closed at 99 sen today. That is a spectacular rise of 28.5% in 3 weeks and an incredibly impressive performance.

3. What would you do tomorrow?.
If you keep your shares until tomorrow and the ex date is 14/3/24 hence, you are entitled to 1.5sen dividend.
4. Perhaps you are aware that the company has submitted a proposal to raise fund by selling 10% new shares through private placement and a 1 for 3 bonus shares to reward its loyal shareholders.
5. In light of the forthcoming corporate exercise, it may not be a bad idea to stay invested and ride on the positive news and profit from it.
6. All the best.
Happy trading
12/3/24

1.We have divested from Ekovest since Jan 2024 and moved into selling chickens and eggs. In a short span of time we are truly delighted and blessed with a bank full of protein. And now we are at the very initial stage of processing and selling processed rubber sheet to the tyres and auto industries since 26th. Jan 2024 with remarkable and commendable result in a week.

2.Now let's get back to Ekovest.
The counter has just completed a Double Top pattern and formation that began on 24/8/23 and cumulated to the top on the left on 25/9/23 at 61 sen. It than began to fall and on 13/10/23 settled at the neckline at 44 sen.

3. It consolidated for 7 weeks and began its climb again on 7/12/23 and reached the second Top on the right on 15/1/24 again at 61sen in which Tan Sri has seized the opportunity to dispose 6m shares. Thereafter, it resumed its decline and on 4/3/24 today, the counter reached the neckline again at 44.5sen

4. That completes beautifully the Double Top pattern and formation of Ekovest. Where does it go from hereon?. I truly do not know. But it is quite certain according to the candlesticks chart ekovest will move into consolidation and trade sideways in the coming days or weeks.

5. However, if it breaks the neckline from above to below than, the immediate support is at 41.5sen and the next formidable support is at 36sen. So bear in mind and you have been forewarned. There is no need to panic. Again I could be completely wrong.

6. Technically, the 9 days MA line has crossed over the 26 day MA line from above to below on 7/2/24 at 55 sen. This is a dead cross and the gap between the 2 MA lines has widen and continued to worsen. It is seriously alarming that in the last 10 trading days the share prices had declined below both the 9 day and 26 day MA lines.

7 The MACD or moving average converging and diverging indicator is looking equally bad. The MACD line has crossed over the signal line from above to below on 29/1/24. The gap between the 2 lines continued to widen and the solid red histogram which is a measure of selling momentum is expanding. Hence, the MACD indicator has indicated that the worst is yet to come.

8. The Relative Strength Index RSI is currently at the hugely oversold 30 points level. In the absence of positive news flow and worthy catalyst it could remain languishing at the oversold level for a prolonged period of time.

9 Considering that Ekovest is still a loss making company, and the highway to profitability is delay for the next 2 years and there have been no update on the due diligence on the mega proposal hence, it may not be a bad idea to divest and allocate more efficiently scare capital and resource elsewhere.

10 No matter how deeply you love a company, one should not be inextricably entangled in emotional value. We should only be bonded by intrinsic value.
And sadly it has none in the meanwhile.

11. What would you do tomorrow?.
The choice is yours.
Trade wisely
4/3/2024

1.Ekovest has just announced its 2nd quarter result. The numbers are bad and alarming.

2. I have written extensively and fundamentally about Ekovest. The company has great dreams but small value. It works hard but produce no result or negative results.

3. You have been forewarned repeatedly to get out months ago. Nothing good happens here. Bad days have arrived and the worst days are still ahead of them.

4. This is a short posting. I wish to end it by informing that the 4 months time period allocated for the due diligence of the mega proposal to reorganize, rationalize and merger of sisters companies is due on 27th Feb. 2024

5. There is no announcement and follow up news. It is not forthcoming. Where is the management commitment. Are you truly forgiving and continue to stay invested. Think again and think wisely.

6. The choice is yours.
28/2/24

1. What are you, Ekovest?
Historically in its heyday, Ekovest has ever achieved an annual profit of between 110m to 156m during the period from 2016 to 2019. However, in the last 2 years of 2022 and 2023 the company has suffered enormous losses of -124m and -110m respectively. For the 1Q2024 it has demonstrated a green shoot of recovery by reporting a tiny 3m in profit.

2. The company is schedule to report its 2nd quarter earnings by the end of Feb 2024. Investors are still waiting anxiously. I shall refrain from speculating and commenting with facts and numbers on the forthcoming result.

3.However judging by the trading volume and volatility and its persistent fall in share prices, it is anything but good.

4. The earning track record of Ekovest over the years had fallen from spectacular to great and from great to good and from good to mediocre and slide further down to rotten in the current time.
5. You would tend to agree with me the expression that said *nothing except profit would drive up the share price*. Hence with the depressed profit performance it is not surprising that the share price is persistently moving to the south and accelerating it its speed.

6. Ekovest is therefore a company without earning growth and not even slow growth. Expecting it to report impressive earning would end up in despair.

7 Ekovest has great asset and value as in the DUKE and SPE highway. Because, the monetization of highway has been extended for 2 years, hence ekovest is not expected to wake up to Bursa on asset play and highway to profitability is not expected. The reason why share price is not moving up.

8. Technically, at the closing price of 48.5 sen the cup and handle formation has been destroyed. It is looking more like a double top with the neckline at 43.5 sen. The worst is yet to come.

9. Company and business move following a cycle. It gets out from rotten stage to recovery to good and great and then spectacular and block buster earnings.

10. None of these description fix Ekovest. If it is neither this nor that, than what is Ekovest?
It is a group of shrewd people organizing a party of the year. Ekovest is a huge party and all of us are invited to the ball. You may have great joy and laughter but have been forewarned you must leave the moment Tan Sri left. Otherwise, there are consequences

11. Sadly, many got drunk by the music and overstayed the party that is continuing to speculate in ekovest that has no earning growth, no slow growth, no highway asset play, no cup and handle, no turnaround story.

12. This is like what Warren Buffett had said in his annual letter about Cinderella that we could learn for investing and that is overstaying or continuing to speculate in a company with lofty valuation will eventually bring on pumpkins and mice.

13. This is my personal perception and opinion of the counter. it is not a buy or sell recommendation and not intended to influence you investment decision.

14. I could be completely wrong.
Trade wisely
26/2/2024

1.Seng Fong never has a good day since its listing. Its share price has been loitering below IPO price for a prolonged and frustrating period. Today it has awaken and opened with a 2 sen gap up. It has attracted considerably huge buying interest and closed the day with a bullish engulfing candlestick at 81 sen.

2. In the last three quarters, SF reported profit of 2.97m in 4Q23, 8.29m in 1Q24 and 17.4m in 2Q24. Clearly the profit performance for SF has moved from mediocre to good and from good to great. The management in its advisory statement on the future and prospects of the company believes that it earnings will be spectacular and sustainable in the coming quarters.

3. In the 1H, the substantial rise in revenue and profit was attributed to the upgrading of production capacity arising from technology and automation as well as the implementation of factory operating time from 12hr shift to 18hr shift.

4. The additional hours of operation had permanently increased the production output from 166mt to 190mt annually.

5.The hard work and improvement effort undertaken by the management has begun to show up and reflected in the current remarkable and commendable result announcement of 17.4m as compare to 6.9m in the corresponding quarter last year.

6. For the 1H24 SF has accumulated profit of 25.6m. If SF is able to maintain its profit performance, than its year end earnings would be 51.2m. The company has issued and paid up share capital of 513m therefore, the EPS is 10sen.

7. The current bursa PE of 30 blue chips companies is between 13x to 15x and considering that SF being a relatively unknown, yet a PE of 11x would potentially value SF at Rm1.10 by year end.

8. Hence, basing on this analysis and valuation the upside potential of SF in the foreseeable future is astronomical. Therefore, it is unwittingly wasteful to dispose when SF has just only waken up to bursa. The selling would be somewhat pre matured.

9. The company has a dividend policy and the payout ratio is 30%. It has declared a 1.5 sen dividend and the ex date is on 15/3/24. The dividend payment date is on 5th Apr.2024

10. SF has also announced that it will undertake a bonus issues to reward its loyal and long term steadfast shareholders. For every 3 shares held, investors will be rewarded with one bonus shares on a date to be determined later.

10. In the meanwhile the company will undertake a private placement to place out 10% or about 51.3m new shares to selected investors or institutional funds. The indicative placement price is 75sen and SF is aspired to raise Rm38.5m.
Fund raising through private placement is fast, efficient, interest saving and less burdensome. There is no interest payment and absence of repayment of principle amount or borrowings.

11. It would be interesting to see who subscribe to the 51m placement shares. What transpire that motivates the subscribers and the reasons and great confidence they have on the prospect of the company and future intrinsic value ascribed to SF.

12. New investors have awaken to Seng Fong's remarkable and commendable profit performance. Good days have arrived and the best day is still ahead of the company.

13. There is value in SF. You have been enlightened.
Are you still sucking your thumb?. The choice is yours.

Happy trading
26/2/24

1.What are you and what are your criteria for stock picks?. Specifically what are the reasons that have led you to acquire Ekovest?.

2. Number 1, if you are like Warren Buffett who reads extensively all details in the company's annual report to unmask the strengths and weaknesses who than buy and never sell shares, than you have nothing to worry about. Have a cup of coffee, go to a movie and stay away from the screen and never have to look at the price of Ekovest again. And years later laughing to the bank. But, there is only one Warren Buffett in this world.

3. Number 2, if you are a lazy investor who does no personal research and having a self imposed hypothesis like HuatRex that investment theories are boring, monotonous and useless and have acquired Ekovest basing on the hot tips generated by trusted research house that Ekovest is on a highway to profitability with target price 116, than you must beware.

4. Notice that Ekovest in its filing with Bursa announced it has secured an extension of time with EPF for two years to monetize the highway assets. This means it is not happening in the foreseeable future.

5The criteria of your stock pick is not materializing or the company has become somewhat different from what you originally intended it to be. Would you still wait two years or jump off the wagon. The choice is yours.

6. Number 3, if you are a technical chartist and have acquired Ekovest believing in the bullish candlesticks cup and handle pattern and formation, many are concern and anxious that the cup and handle is been delayed or destroy. The next possible pattern could be a double bottom and share price could gradually move down to 43.5 sen.

7. Again the criteria of your stock pick is not materializing or delaying and has become somewhat different from what you originally intended it to be, would you still risk and agonize over the possibility of a double bottom. The choice is yours.

8. Number 4, If you are a fundamentalist and believe in the projected excellent prospect and earning growth of Ekovest would drive up share price, than you need to look into its segments of business and its contribution.

9.Besides the highway, the RTS and the land bank there is really not much activities or new projects or economic endeavors seriously undertaken by Ekovest. Upon completion of the highway, the construction expenses cannot be capitalized and hence it must be expended and that would have a negative impact on reported earning in the coming quarters. Company is schedule to announce its result by end of month. Again, there may be earning recovery with minor improvement but a stellar performance is least expected. Therefore expecting a sharp rise in share price driven by earning growth may end up in despair.

10. Number 5, if you are a strong supporter of TS and has acquired Ekovest believing in his mega proposal to reorganize rationalize and merger of sisters companies than you must understand the sequence of events in which i have delved with extensively in my previous posting and monitor its progress.

11. By 27th Feb, it would be 4 months since the acceptance of the mega proposal. Ekovest has an obligation to advise on the progress and completion of its massive due diligence. Hopefully there is no extension of time otherwise, it is not a positive news for the proposal and the company.

12. Investment is about opportunity cost and efficient allocation of capital and resources. And opportunity cost is the benefit forgone for choosing the next best alternative. In simplicity, it means with the limited capital and having purchased Ekovest, you can't buy another counter say Yinson for example.

13. Notice that in the 9 months YINSON has generated a revenue of 8.9b and accumulated profit of 686m. That means you have forgone 686m profit to buy Ekovest that only earns 3m in Q1.

14.HuatRex, if you come with an open heart, open mind and eyes, you would see and feel theory may not necessary be boring and useless. It may not guarantee that one would make money but when you make decision base on logic and consistency you reduce risk possibly avoid headache and heartache.

Happy trading
18/2/2024

1.Stop monkeying around. There is no banana on the highway of Ekovest.

2.Have not seen or heard you before. From where did you swing over.
Your suggestions are unwittingly wield and you ape mischievously.

3. You may hang around, but I have stopped to entertain you from hereon.
14/2/24

will75
1.You don't call the shot.

2.It is a free world.
I can write anything i like
and post any where i wish.

3. Mind your own business.
14/2/24

1.Writing and posting on i3 is my pastime and hobby. The short write up reflects my personal perception and opinion of the counter. It is not a recommendation to buy or sell and certainly not intended to influence your investment decision and strategy.

2. I am not an expert and much less a professional.
3. I could be completely wrong. So, make your own decision.
Happy trading
14/2/2024

1.In securities analysis, there is a difference between positive news and good news.
On 13/2/24 i wrote and here it is.
*I am not pouring cold water. Today's announcement is not really a positive news.*

2. Positive news are news that would show the company's movement, progress and advancement towards its goal. Now Ekovest has originally set a goal to list and monetize its highway asset in 2016. This did not happen and the fact that it has applied for a 2 years time extension simply implied that it has not made any meaningful movement, progress and advancement towards its goal.
Hence, it is not a positive news.

3. On the other hand, a good news is a news that has beneficial impact and effect and would aggressively push up share price. Ekovest was trading at 52.5sen before the announcement of your definition of good news. After the announcement the counter closed 2 sen higher.
Does good news only push share price higher by 2 sen?

4.Notice that, according to some investment bankers and research house, the highway is worth close to 11b and after deducting all its debts, the value per share from the highway alone is between 1.49 to 1.69
The current trading share did not reflect this value and hence, it is not a good news.

5. It is not a positive news, and neither is it a good news. So what it is?.

Yesterday's filing and announcement on bursa is just a material information the company must disclose to its shareholders and the public on the progress and development concerning its contractual obligations with EPF. It is a listing requirement and part of the reporting regime.

6.Material information is information that has an impact and would affect the current and future prospects of the company. It must be communicated to the investors and stakeholders to enable them to make informed decisions.

7. The announcement has attracted some buying interest, but a helicopter rise in share price with speed and certainty is not expected in the foreseeable.

7. Investment is about opportunity cost and efficient allocation of scared resourses capital. If you search hard enough, diamond could also be found elsewhere.
Think about it.
Happy trading
14/2/2024

1. I am not pouring cold water. Today's announcement is not really a positive news.

2.Ekovest has divested the highway assets to EPF in 2010. It was structured with an exit clause of monetization. The announcement this morning served to confirm that Ekovest has failed in its ability to monetize the DUKE highway assets in which EPF has a 40% stake.
3.Hence, Ekovest is seeking an extension of time of 1 to 2 years from EPF to discharge its contractual responsibility and obligation.

4. If you have purchased Ekovest in anticipation of the monetization of Duke highway, it is not happening any time soon. Digest the news wisely.

5. Just like many of us I am disappointed too.
Happy trading.
13/2/24

1. A cup and handle is a very positive candlesticks formation and technically bullish price continuation pattern.
Can it fail?

2. Technically speaking the candlesticks cup is usually formed between 4 to 6 months and the handle would complete between 1 to 4 weeks. Psychologically, the handle is formed because some investors take profit at the edge of the cup after a mini bull run.

3.When the selling eased or ceased, new investors would come in to buy thus, pushing up the share price ,breaching the new resistance and shooting to the moon. Therefore, if the handle is to happens, it will be formed with speed and versatility. Otherwise, it would fail.

4.For Ekovest the cup that began in Sept 2023 was completed in Jan 2024 for a period of five 5 months. Sadly, after 20 trading days or exactly 4 weeks the handle is still not seen.
The bulls are not charging. Specifically it means Ekovest is not ready for a cup and handle formation at this point in time. Is there a reason?

5. It looks like the mega proposal to reorganize and rationalize and mergers of sisters companies that would turn Ekovest into a conglomerate and the potential monetization of the DUKE and SPE highway that has created enormous investors' interest and confidence to chase after the hot stock is slowly cooling down. It could dissipate in the coming months. Why?

6. You would tend to agree with me that nothing would drive up share price except profit. It is the greatest and strongest catalyst. Although Ekovest has turnaround with a 3m profit in the 1st quarter of 2024, it is still suffering from huge losses in a 4-quarter running basis. It has -3.64 sen EPS and trading at minus 14.15x price earning multiple. The numbers are discouraging and would put off any serious investors.

7. Further more, with the completion of SPE the company can no longer capitalize on the concessionary expenses. In addition, it has to provide depreciation and amortization for the new highway assets in the coming quarters. The earning will be negatively impacted. Until there is substantial rise in revenue and profit, share price would not soar. It may shoot higher manipulatively but it is unlikely to sustain. Just like what is happening now.

8. Despite its mega proposal, quality and value of its 3 highways, construction of RTS and potential unlocking the value of its land bank along the proposed new LRT route, yet investors are lukewarm, cooling off and indifferent.

9. Simply because these require lengthy process and precious time to execute and materialize. Many believe all these would take place only after the completion of the mega proposal when all the new shares are allotted to TS. Maybe towards the end of the year.
10. In light of the above, it is unlikely that Ekovest would experience a helicopter rise in the foreseeable future. Even TS is happy to dispose each time when share price moves beyond 60 sen.
11. Hence, It is not a bad idea to revisit this counter again when the company reports substantial rise in revenue and profitability. Better still, when the mega proposal has made some meaningful progress and there is also greater clarity and certainty on the monetization of highway assets.
12. Hope it helps.
7/2/24

1.Last week Ekovest was looking vulnerable and hanging at the cliff. Today at 51.5sen it has fallen off the cliff and the situation is undesirably painful. In the coming week or days there could be broken bones and blood spilt. Technically, there is a 50% Fibonacci retraction and hence, the cup and handle formation has been destroyed.

2. In an ugly and worst scenario, a greater pack of bears could come out from hibernation and continue with its rampage and destruction to shape a double bottom.

3. Going forward, the share price could progressively accelerate in its decline, and on a worst case scenario could eventually hit bottom at 43.5 sen forming the right bottom.

4.This expression of opinion has no malicious intent. It is an unbiased technical interpretation based on the candlesticks chart. Yet, it may or may not happen.

5. Technically, all other indicators are not gorgeous and nothing like Taylor Swift. The 9 day moving average is about to make a dead cross from above to below the 26 day moving average line. Share prices are accelerating in its decline and at 51.5 sen , it has fallen below both the average lines. This is bad and the bears are in control. There is no visible sign of fatigue.
6. The MACD indicators are more damaging. The MACD line has crossed over the signal line since 17th Jan 2024. The gap between them has progressively widen over the last few trading days. The red histogram is expanding and this means the momentum is accelerating and the selling is continuing. The worst is yet to come. There could be headache and heartache.

7. The RSI relative strength index is trending downwards and according to the chart it has drifted below the 50 point neutral level and advancing towards the oversold region. There is visible signs of weakness.

8. All technical indicators painted a lousy picture of Ekovest. The disposal by Tan Sri has dampened market sentiment ,damaged investors' confidence and destroyed the cup and handle formation.

9.In the circumstance, what would you do?
If you are a short term trader and had jumped onto the Wagen following Rakuten analyst report and chasing the target price of 1.16 you are caught and face an unpleasant paper loss. You could bite the bullet, dispose and cut loss and move on.

10. If you are a strong believer in ekovest, and subscribe to its mega proposal to reorganize, rationalize and merger of sisters companies and the eventual monetization of the quality and value of the DUKE and SPE highways than you should ignore the noise and stay invested.
11. The choice is yours.
Happy trading
5/2/2024

1.The bears are still active. It is continuing with its rampage and destruction with no sign of fatigue. The qualified statement by external auditors will continue to dampen its market sentiment and investors' confidence.

2. Until this is resolve, a bottom reversal is unlikely in the foreseeable future.
The counter closed at 62.5sen. The selling is continuing and the price is falling.
3. The issues and challenges still persist. Tougher days are still ahead of YNH.
Trade wisely.
1/2/2024

1.After an impressive run, the bulls of Ekovest has stopped charging. There is visible sign of fatigue. The volume is declining and the share price is falling. Ekovest has entered into the phase of consolidation.

2. At the closing price of 55.5 sen, the cup and handle formation is still relevant. However, It could all change if its breaks below 52sen. Technically the cup and handle will be destroyed and it could take on a different but damaging shape and form.

3.When it happens, than it would be a course for concern. The double bottom that seem improbable and a distance reality could become a near certainty. On a worse and ugly scenario, share price could revert back to 43.5sen forming the right bottom basing on the candlesticks chart.

4.You have a right to disagree but anything can happen in the stock market. This is very true just like no one can predict the insanity and much less calculate the madness of Tan Sri Lim KC an insider and director selling million of shares every time when it soars beyond 60 sen.

5. Ekovest has only recently attracted significantly huge interest to its counter. This was fueled by the mega proposal by TS to reorganize, rationalize and to merge its sisters companies to form a conglomerate.

6. There is also wide spread and coverage by research house on the quality and value and its near term monetization of highway assets. The perpetual optimist has accorded Ekovest a target price of 1.16. Other IB believe the Duke1&2 plus SPE are worth Rm11b+ and after deducting the borrowings the highway alone could worth more than Rm1.48 per share.
7. Indeed there is value in Ekovest. Let us try to structure a time frame for its monetization and realization of its quality assets and value.

8. Everything happens with a process and follow a sequence. Therefore, we cannot and it would be foolish to put the carriage before the horse. Now Tan Sri has a mega proposal and the pure intention is to sell his private equity into Ekovest the listed entity in exchange for 1.9b new shares at 60 sen consideration price.

9. Hence, for as long as the new shares are not credited into the CDS account of TS it is unlikely and premature for him to play an effectively meaningful role to push up the share price.

10. With this perception, we could picture and figure out a possible but hypothetical process and sequence of preceding events before the share price to shoot to the sky. And here it is.

11. The proposal was announce on 27th.Sept 2023. It was accepted after one month on 27th. Oct 2023. They have agreed to allow a time of 4 months to conduct the due diligence. This means the completion month of due diligence will be in Feb 2024.
Assuming they need another month to work out the definitive agreement it would be Mar 2023.

12. Next they will engage Investment banker IB to work out the final proposal and submit to SC. This would take say another month and also maybe another month for SC to consider and evaluate its proposal. Additional information may be need and by the time when the approval is obtained it could be in the month of July 2024.

13. Next they will work out and dispatch the circular and convene EGM to obtain shareholders' approval possibly in Sept 2024.
14. By the time they execute the terms of the proposal and the transferring of assets and ownership and issuing of new share to respective parties, it could be December of 2024.

15. In the meanwhile when the proposal is not completed and the new shares are not in the hands of beneficial parties, i think a sharp and helicopter rise in share price is unexpected and unforeseeable.

16. Nevertheless, the scenario has provided an opportunity to trade in a range bound of between 43.5sen and 61.5 sen. Time it correctly, one could still trade and make a fortune while waiting for the monetization of highway assets.

17. Again, this is my personal opinion and laymen perception of the counter.
I could be completely wrong.

18.So read it with a pinch of salt and
apply with skepticism.

31/1/2024

1.News and information influence and impact share price. Good news elevates share price and bad news reduces share price. Now, how bad is a penalty and specifically the MYCC penalty of 157m imposed on LHI.

2. The penalty has been in existence since the end of 2022. Following the filling and announcement with bursa, the share price of LHI has declined from a high of 73sen to a low of 52sen and on 26th Jan 2024 LHI closed at 55 sen.

3. The penalty and bad news has wiped out about 3650m x 21 sen of RM766m of market capital.

4.Is this necessary or has the sell off been excessive and over done?.

5. If you look at LHI as a business the penalty is a straight forward case in which the fine and the extent of damage is known and certain.

6.It does not affect the production and the day to day business operation of LHI. It does not result in any loss of business revenue or market share or future profit from operation.

7. Hence, the penalty is indeed just a temporary disruptive force that damage short term share price that has not negative impact on the sustainability of the business. The penalty does not affect and has no adverse impact on LHI as a going concern. The company is financially stable enough with a healthy cash flow to meet all its obligations and continue its business in the foreseeable future.

8.In my opinion, the market has over reacted, the sell down and falling share price is unwarranted and unjustified.
9.One should not be deterred and in fact the bashed down low price has indeed opened up an opportunity for you to enter cheap in a big way.

10. That does not mean if you buy LHI and expand your portfolio, you will sure to make money and profit. On the contrary, it means the down side risk is limited and you potential losses are insignificant.

11. LHI has a 4-quarter running EPS of 8.52 sen. At 55 sen it is trading at a price earnings multiple of merely 6.4 x. Its 9 months accumulated profit of 220m for 2023 has surpassed the whole year earnings of 218m in 2022.

12. Therefore, it is worth the risk. Think about it.

12. This is my personal perception and layman opinion of the counter. It is not a recommendation to buy or sell and not intended to influence your investment strategy and plan.
13. Happy trading
26/1/2024

1.Dnex has been experiencing a spectacular down trend since 17/2/2022. For two (2) years the counter collapsed from a high of Rm1.33 to 34.5 sen on Friday 20th Jan 2024. It has declined 98.5 sen of 74%. The company has 3156m issued share capital and hence, a massive amount of RM3.1b has been erased from its market capital. All its investors and punters and syndicates suffered enormous losses. The selling is continuing and the worst is yet to come.

2. Technically, the 9 day EMA has crossed over the 26 day EMA on 31/May 2022 from above to below the 26 day moving average line at 1.01 sen. This is a dead cross and it is indicative of a bearish market and in the case of Dnex it is the beginning of a massive down trend.
3.Thereafter, the bears continued to charge forward and the counter maintained its course of decline. The daily closing price is falling faster than both the average lines. At the closing price of 34.5 sen it has fallen below both the average lines. This is alarming and a cause for concern. The worst is not over yet.

4. The MACD also exhibited a gloomy scenario. The MACD line has also decisively crossed over from above to below the signal line. More alarmingly, both the MACD and signal line is trending below the zero line. Furthermore, the gap between the two lines has widen and the solid red histogram which is a measure of momentum has been expending progressively. If the momentum persist on and the selling pressure intensify, the bears will make greater havoc and conquer new territory in the southern region. SO, buyers beware.

5. The RSI relative strength index has been languishing below the 50 points neutral line for months and is currently trending at between 20 and 30 points level.It has remained and continued to consolidate at the oversold level with no sign of improvement.

6. In summary, all the indicators are not looking good for Dnex

7. If you are a risk taker looking for some excitement and attempting to trade and benefit from a short term bottom reversal, than great care must be exercised to limit your losses.

8. A stop loss order must be in place.
You could be in for a surprise for the bottom reversal could turn out to be a falling knife.

6. Let it be forewarned and trade wisely.

20/1/2024

1,Yes, The Clarinden was an early investor.They cash out during IPO 5 years ago. Now they are selling again and their action has collapsed the share price.

2.Surprising, they are selling at 50% of IPO price. Unfortunately,for as long as Clarinden is selling, the counter and share price are subject to downwards pressure. Many are already holding onto a loss position despite LHI producing a remarkable and commendable financial result.

3. It is hope that in the coming days, Clarinden has found the sense and solution to its portfolio overbalancing and halt its divestment to ease the falling share price.

4. Notwithstanding, the sell out and divestment, it is not a cause for concern. LHI is fundamentally sound, its business is well managed, profitable and sustainable.

5. The falling share price is a temporarily pain one has to endure for the reward that is forthcoming.
6. Happy trading.

20/1/2024

1.Three days ago the candlesticks chart had prominently displayed a bullish cup and handle formation for Ekovest. Encouraged by the bullish indicators many fresh and new investors had gone on a shopping spree and aggressively acquired huge quantity of shares and push up the share price. Volume traded surpass 149 million and TS took the opportunity to dispose again when share price hit 61 sen

2.We were wondering what is the implication of the share disposal by Tan Sri each time when it hit 61sen and above. By his action, can he damage or destroy the cup and handle formation and turns it into a double bottom in the coming weeks before resuming a spectacular rise and shooting to the sky subsequently.

3.Historically, the counter has hit an intra day high of 61.5 but never closed above 59.5sen. It slided down and hit bottom at 43.5 sen and then resumed its climb and hit 62 sen intraday high and closed at 59.5sen again. Therefore the height of the cup is the distance between 59.5 and 43.5 and that is 16 sen.

4.For a cup and handle to be materialized, one would envisage that the base of the handle to be at most at the 30% mark from the height of the cup. This would means 30% of 16 sen or 4.8 say 5 sen. Any thing longer would mean it does not look like a handle. And the cup and handle formation is considered destroyed.

5. Basing on this logic one would agree that the price cannot fall below 59.5sen minus 5sen which is 54.5 sen. Hence,any closing price below 54.5sen would result in a technically disproportionate cup and handle.

6. On 18/1/2024 Ekovest opened high at 56sen, and hit an intraday low at 51sen and finally closed at 53 sen which is lower than the 54.5sen in order to sustain the cup and handle pattern.

7. In conclusion, the disposal by TS indeed has a strong influence and bearing on the technical pattern and formation. If you still steadfastly insist on the cup and handle formation, well it has been somewhat destroyed.

8.TS by his action has reshape the cup with a disproportionately twisted and elongated handle.
9. In the coming days can investors rectify the elongated handle.

10. Over to you. What would you say?

18/1/2024

1. The selling is continuing.
Clarinden has embarked on a wild odyssey and destructive voyage to navigate itself out of LHI. It is steadfastly holding onto its new policy and strategy since last year October of a bear rampage and self destruction. In the process, it has irresponsibly collapsed the share price from 73 sen to 52 sen and this endeavor is incurring huge losses and burning a big hole in its own portfolio.

2..Their decision by Clarinder to sell at this point in time when LHI has made enormous improvement in revenue and profit is surprisingly absurd. LHI recorded 220m profit in 9 month that surpass the 218m profit for the whole year of 2022

3. Being a corner stone investor and having subscribed to the IPO price of Rm1.10 hence, for every lot they sell a loss of -Rm580 is realized. Selling at this time and at such bashed down low price is uniquely peculiar of Clarinder.

4. The Clarinder's disposal is not only incomprehensible and illogical but also unwittingly reckless and unintelligent coming from the intelligent Island across the causeway.

5.Warren Buffet has once said 90% of Fund manager or portfolio executive lose money. Another 5% perform below the broader index. The Clarinden is a real case before us that reinforced and best fit Buffet's assertion.

6. On the other hand, there are also many big funds among the top 30 shareholders of LHI. Why they like LHI?

7. I think LHI is a big company operating with modernized technology in poultry farming and breeding and has a superb management serving a huge market that include Malaysia Indonesia Vietnam Singapore and more. Its turnover of 9b is bigger than Genm7.4B, Ecoworld 2.3B, Hapseng 4.7B GCB3.5B, and many many more counters in Bursa.

8. At 52sen it is trading at a 4 quarter running PE of 6x. Comparing to its peer such as QL,and CCK the PE is 36x and 8.6x respectively. Market is irrational.

9. LHI has a ROE of 14% which is considerably high and acceptable.

10. LHI has a dividend policy of 30% payout ratio. In 2022 it made a profit of 218m. So the payout is 0.3 x218 is Rm65.4m. Company has issued share capital 3650m, so the DPS is 1.8sen For 2023 it has announced a 9 month cumulative profit of 220m. If we annualized this number the year end profit would be 293m. Hence the DPS could increase to 2.4 sen

11. Chicken and eggs are sustainable business. It is consumed worldwide in all festival, culture and ethnicity. Incidentally, we are celebrating Thaipusam this month. Feb is CNY follow by Bulan puasa and Ramadan in March and April. Hence, the revenue and profit performance for LHI will be good in the next 2 quarters.

12. At the moment, the only bad news for LHI is the MYCC penalty Perhaps, this is the big reason why the fund is selling and the price is falling.

13.There is nothing wrong with LHI and If you have invested you should not have sleepless nights.

14. The falling price is a temporary sacrifice you have to patiently endure for the reward that is forthcoming.

16. This will happen when Clarinder has completely sold all its shares or at some point in time when it decides to stop selling.

17. Until then, the share price will fall continually. So go for a walk, or meet some friends to have coffee and keep your eyes away from the screen to avoid frustration while Clarinder resume its happy and jolly bear rampage and self inflict destruction and pain.

18. One must taste bitter to understand what is sweet.
Hang on to it if you can.

17/1/2024

1.I am a fan of Ekovest. I have been here since Sept 2023, still is and will continue to be around.
2. As you are aware, last year in Sept TSLKH has a proposal to reorganize, rationalize and to merge it sister companies to scale up Ekovest and establish it to become a conglomerate.
3. In the mega proposal and among them, Ekovest will buy 70% of Credence a company that belongs to TS at Rm1.14b. Ekovest will issue new share at consideration price of 60 sen. Therefore the transaction would enable TS to receive 1.9b ekovest new shares.

4 .Ekovest will also buy Danga City Mall and 2 parcle of land from Khazana Melati right in the city center of Johor Bahru and in the vicinity of RTS connecting Bukit Chargar and woodland Singapore.
This transaction is value at Rm310 and the share consideration price is also 60 sen. That means TS and related person will receive additional 516m Ekovest new shares.

5. Upon completion, the shareholding of TS will be increased by 1900m plus 516m or 2416m new shares. That is huge and in one master stroke TS is envisaged to own 51% of the enlarged entity of Ekovest if he succeeds.

6.In retrospect, the week before the announcement of the proposal Ekovest sold 269m or 10% of its issued capital at 43.5 sen through a private placement. Thereafter, share price began to rise. And following the announcement of the mega proposal by TS days after, the share price shoot up and hit a high of 61.5 sen. It jumped 41.5% in the shortest time and TS sold some shares

7 Thereafter, share price began to fall and on 7th Dec 2023 the counter gave back all gains and it was back to square one again and closed at 43.5 sen again.

8.From thereon the counter made a strong recovery and again hit a height of 62 sen for the second time on 8th Jan 2024 and again TS sold 1.2m shares at 61 sen. Following the disposal, the share has contracted to 54.5sen. Fortunately the timely analyst report by Rakuten on Thursday quickly lifted the falling share price above 62sen and finally closed at 59 sen on Friday 13/1/24

9. Technically, basing on the candlestick chart Ekovest is undergoing a cup and handle formation. This pattern is indicative of a bullish market. Some has predicted it to go beyond 80sen and one brokerage house has a target price of 116.

10. What is the implication of the share disposal by Tan Sri each time when it hit 60sen and above. By his action, can he damage or destroy the cup and handle formation and turns it into a double bottom in the coming weeks before resuming a spectacular rise and shooting to the sky subsequently.

11. Let's analyse. The proposal has been accepted by the BOD and TS has a legally binding agreement with all the companies. They allowed themselves 4 months to do the due diligence and thereafter enter into a definitive agreement. Next they will submit the proposal to SC and obtain its approval. Thereafter the company will prepare and dispatch circular and convene EGM to obtain shareholders' approval.

12. To obtain shareholders'approval means the proposal is subject to a vote. For the sake of discussion,let us assume if tomorrow is the EGM and in the hypothetical case that the share price is 116, how would you vote and what minority watch dog would say?

13. Remember, the proposal entails TS to inject 1.14b assets into Ekovest and in return would enable TS to acquire 2.416b shares at consideration price of 60 sen. This would be seen as a huge unfair discount. Hence,there is a risk of rejection or an air of dissatisfaction among minority shareholders over the discount. This should be avoided.

13. However,this does not mean that ekovest will not reach 116. It is a great company with huge land bank in the Iskandar region kept under IWB and IWCity.
Ekovest owns DUKE1, DUKE2 and the recently just opened tolled highway SPE. The highways are the most pricey and quality assets of Ekovest that are worth multiple billion of ringgit.

14. I think more excitement and greater volume and volatility will take place after all the shares are in the hand of TS.

15, This is my personal and layman perception of the counter. It could be completely wrong. Happy trading.

14/1/2024

1.LHI was listed on 16th May 2019 and that was 5 years ago. As I read further into the listing prospectus and analyse deeper into the changes in shareholdings of LHI, I realize that Clarinden Investment Pte Ltd was a cornerstone investor.

2. At its initial public offering the company sold 937,500,00 shares of which 250,000,000 were public issue and offer for sales of 687,500,000 by Dato Lau and his family.

3.The IPO price was fixed at Rm1.10 per share and Clarinden Investment Pte Ltd has acquired 328,898,300 shares.

4. Clarinden has invested in LHI and remained invested until Oct 2023 in which they decided to divest. Since Oct last year it has been selling and reducing its shareholding from its original holding of 328m to 304m in Nov 2023,and 288m in Dec 2023,and 227m in Jan 2024
5.As at 12/1/2024 it has sold 328m minus 227m or about 101m shares. The program selling has not eased and it is still continuing.

6. While we do not know the reasons why they sell and much less understand the decision it pain my heart to see Clarinden is incurring a overwhelmingly massive loss that is mind blowing. It is terrifying and You can do the math. Going forward and at the closing price of 56 sen, for each one (1) lot it sell it will lose -Rm540

7. Fellow investors and forumers must be pretty concern and anxious by the program selling and the extend of damage it will have on the share price. To address the anxieties,let's analyse by looking at the volume traded and closing price of LHI for the last trading 14 days.

8.Now on 22/12/23 the volume traded was 16.8m shares and the closing price was 57.5 sen. For the sake of analysis i have added up the volume traded for each day until 12/1/24. and the total volume traded is 102.96m shares and the closing price is 54.5 sen

9. This simply means for LHI to fall from 57.5 sen to 54.5sen it required 102.96m shares to change hand. If you add back the 1.5 sen price adjustment for dividend the share price is actually 56 sen. In conclusion 102m shares changed hand and share price collapsed by 1.5 sen

10. If this is taken as an observation and as a simple guide we could project that for LHI to fall from 54.5 sen to 50 sen there is a difference of 4.5 sen. This also means 102m x 3 or 306m shares must change hand for it to happen. Clarinden has balance 227m shares or less to do the damage.
11. If you have observed the trading pattern of LHI you would notice that for each million shares sell down it is absolved quickly and followed by a clear attempt to buy up again. Clearly another party is accumulating the shares divestment of Clarinden.

12. Market is still wondering who can take on this challenge and much more has the desire and interest to do so. It must be an interested party with deep pocket. Now, during IPO Dato Lau has offered for sales and sold 687,500,000 shares at Rm1.10. He has pocket Rm754m cash. These money can be employed to mitigate and overcome the selling and absolve all the shares.
Hence, minority shareholders need not have sleepless nights and endless worries it could just be a ripple or storm in a tea cup.

13. It is also surprising to see the big fund manager of Clarinden loitering in the trading hall acting like small time remiser on a daily basis engaging in small volume trade. They could have engaged the professional and investment bankers and place out in blocks of multiple tens of million shares and disposed of in off market transaction with days or weeks. They could negotiate for a better price and just a guess Dato may even buy back from them.
14. Now assuming you have invested today at 54.5sen and become a partner in business with LHI, and unfortunately along the way it collapses to 50 sen. For taking a calculated risk of 4.5 sen what can you get from LHI?. Does it worth the risk?

15. Some other days when I have the inspiration I will write again.
Happy trading
12/1/2024

1.Tomorrow is the dividend ed-date and shareholders will be rewarded with 0.012 dividend per share. The payment date is 29th Jan. The share price closed for the day at 56sen so it will be adjusted downwards by 1.5sen. Hence the reference price would be 54.5sen

2, The market price will again be determined by the natural forces of demand and supply for the shares. If investors are bullish and buying persist on then the counter could close higher. Conversely,if the bears continue to charge, than the counter will close lower.

3. LHI has been experiencing a mini down trend since late Nov 2023. The 9 day MA line has crossed over the 26 day MA line from above to below on 6th Dec 2023. The gap between the two lines had also widen over many days of trading. However, over the last 3 days LHI has made somewhat improvement. The gap between the two average lines has been narrowing and the closing shares price today at 56 sen has raised above the 9 day moving averages line. This is an early sign of strength and better day are forthcoming.

4. On 29th Nov 2023, the MACD line had crossed over from above to below the signal line. The counter experienced massive selling pressure with declining share price and expending solid red histogram until 8th Dec.

5.Over the weeks, the counter has made tremendous improvement and the gap between the MACD and signal line has been narrowing. At the closing price of 56sen today, the two lines have intercepted and the histogram has been shrinking and more encouragingly, today it is already resting flatly on the zero line.

6. Basing on the principle of MACD analysis this is a pattern that signal a trend reversal is imminent or about to happen and better day may be expected in the weeks to come.

7 The expending solid red histogram that measure the momentum has enormously shrunk. The fact that it has contracted to a flat bar and resting on the zero line indicates that the bears had overworked and showed sign of fatigue. This is indicative of a trend reversal is forthcoming. In the weeks to come the bears could be overcome and taken out.

8. The RSI has been trading at between the 32 and 35 point level. This is far below the 50 points neutral line. The recent decline has plunged the counter into the oversold region since 7th Dec 2023. Although it has remained in the oversold region and bearish for a prolonged period of time, the MACD analysis tells a different picture and indicates early sign of a trend reversal.

9. Hence, the recent bashed down price although painful has in fact opened up an opportunity for those with risk appetites to enter cheap in a big way.

10. This is my personal opinion of the counter and it is not a recommendation to buy or sell.
11. Trade wisely
10/1/2024

1.In addition to the dividend payment of 0.18, in May 2023, LHI has declared and announced 0.012 dividend in Nov 2023. The ex date is 11/1/24. In total LHI pays 3 sen dividend per share.
At the current price of 56 sen the dividend yield is 5.3% and that is 76.6% higher than your fixed deposit of 3%

2. While i did not check to verify whether LHI has a dividend policy,but considering that the 4Q running quarters EPS is 8.52sen, therefore the pay out ratio is an impressive 35.2%
3.Hence, the board of directors remains concern and thoughtful by rewarding its minority shareholders and sharing its prosperity.

4. It is still unknown why the Funds sold the shares and reduce its percentage holding despite the fact that LHI will report a significant jump in revenue and profit for the year ending 2023.
5. For the 9 months ending Sept 2023, the revenue and profit recorded for LHI were 7.11b and 220m respectively, Whereas, the full year performance for 2022 was only 218.89m.

6..In the process of running a business, companies do face problem. This is inevitable but the management is always there to resolve the matters, to react and respond to the even changing business environment.

7. As you are aware and it was announced yesterday, the company has initiated follow up action and apply to the court for a stay of execution for the infringement,and penalty

8. The MYCC penalty is just a storm in the tea cup as compare to the catastrophic even of pandemic, lock down, idle planes and total lost of business and revenue that has plunged Asia Asia into PN17

9. It is hope that this would inspire your confidence in LHI

10. This write up is not a recommendation to buy or sell but posted as a form of sharing and learning and a joyful past times

11. Happy trading and see how it goes today.
10/1/2

1.On 29th Nov 2023 LHI was trading at its peak with intraday high of 72.5sen and closed at 68sen with a red candlestick. It continued in its decline and hit the bottom of 55sen days ago when market resumed trading after New year.

2. In the short period of a month, it has declined 17,5 sen or 24.1%. Considering that LHI has 3650m issued share capital, that means 3650x 0.175 or about 638.75m has been wiped out from its market capital.

3. What happens??
Well, LHI in a filing with Bursa has informed its shareholders that it has received a letter from MYCC and its decision to maintains its finding of price-fixing infringement with imposition of financial penalty of RM157,470,027
The company says it will apply for a stay of execution and would appoint legal representation to challenge the decision in court. All the best and best of luck in their endeavor.

4. What do you think and its the sudden and massive collapse and loss of 638m in market capital upon receiving the MYCC letter. Is it justifiable?
In my view market reacts negatively over bad data and economic news and more aggressively and irrationally over court case and imposition of penalty and fine.

5. In JHI case it was made worse by the disposal executed by Affinity Asia Pacific Fund.
In anyway, I think the sell out is huge and overdone. The loss of 638m in market capital is excessive and not representative of the case in which the proceeding has not even commenced.
6. LHI is involved in the poultry, animal feeds and many more activities related to the chicken breeding and selling industry. In the 9 months of operation, LHI reported increasing trend in revenue and profitability.
In the 1Q its revenue and profit was 2.1b and 22m. In the 2Q its revenue and profit was 2.4b and 65m. And in the 3Q its revenue and profit was 2.5b and a massive jump of 132m.

7. If the trend is anything to go by and one would expect the 4Q to be equally good and LHI would close the year 2023 with a remarkable and commendable performance.

8. In addition, the 1Q performance of 2024 that coincide with the Chiness New Year would generate huge demand for chicken and eggs during the festival session. Hence, it will be good as well.
9. Currentlt, at 56 sen LHI is trading at a 4- quarer running EPS of 8.52sen and a PE multiple of 6.5x. Considering LHI is among the largest breeder in Malaysia and in the region and considering the Bursa PE multiple is between 13.5x to 15x therefore LHI at 6.5x is unjustifiable.

10. in my opinion, the sudden collapse is unnecessary and overkill. It is not a threat instead it opens up an opportunity for you to enter big and cheap.

11. LHI is currently best fit the description of Warren Buffet. In his quote he said.
It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
12. This is my personal perception of the counter and it is not intended in anyway to influence your investment decision and strategy and much less a recommendation to buy or sell.
13.Think about it. Happy Trading

9/1/2024

1.The efficient market hypothesis states that share price reflects all information of the company. Therefore price will remains at rest unless acted upon by new information.

2.Hence, recycling old news has significantly no value and misleading to investors.

3. Although it is a free world and anyone could write, I would refrain.
5/1/24

1.Ekovest has decisively established a golden cross at 47 sen on 22/12/23. Golden cross is a bullish indicator and hence, the counter has been trending upwards with closing share price traded encouragingly above both the EMA lines.

2. The MACD line which is the difference between 12day and 26day exponential moving average has also cross over the 9 day signal lines. The gap between these two lines has widen and the momentum indicator as represented by the histogram has become larger and longer green histogram.
3. Technically,investors are bullish about the counter and buying momentum will persist and Ekovest is attempting to scale and conquer new height.

4. Happy trading
3/1/24

1.This is in response to your recent posting.
Rich, this is what you have said. I copy and paste

**I will buy but I wait Feb 2024 just collect the cheap ticket. If ekovest want to profit and get dividends need to wait 2027. So no rush wait 0.25 just buy**

2.Ekovest has announced its 1Q result last month and the company has successfully turnaround after 2 years of losses due to the worldwide pandemic. The company reported 271m in revenue and a profit before tax PBT of 23.008m and a profit after tax of 3.083m.
3.The net profit was decimated by the current tax of 11.34m and a deferred tax of 9.022m. Notwithstanding the exorbitant tax , Ekovest has been able to generate profit from all segments of business and operations.

4.Specifically, the profit performance of Ekovest by segments according to its announcement in Bursa is as follows.

5.The profit generated by the construction operation is 45.6m. The toll operation contributed 46.069m, plantation 6.443m, property investment and others 2.233m. The company has insignificant and negligible losses form the property development segment as well as 1.35m loss from its food and beverages division.

6. In fact the company has demonstrated excellent recovery in all its business operation and achieved total segment results of 99.163m in profit.

7. Going forward and leading into 2024, ekovest remains optimistic in delivering positive financial results and is confident that each of the Group’s segments would contribute positively for the financial year ending June 2024. The excitement has just begun.

8.First, the sultan of Johor will be inaugurated to become Agong in Jan 2024. Plenty of investment and infrastructural developments are expected to happen in JB. Even before the completion of RTS in which Ekovest is the key player, there has been talks of 3 LRT form Iskandar, Senai and Mount Austin ending in the Bukit Chargar RTS. This would be a game changer for Ekovest , good for Johor state and benefit to the country's economy.

9. Second, the mega proposal by TSLKH in which Ekovest shall buy 70% of Credence would enable Ekovest to indirectly access to 4212 acres of land in the city center of Johor Bahru and the Iskandar region most likely along the planned LRT route. When this materializes, the GDV of ekovest is enormously huge and unthinkable. Even if it does not secure any future LRT projects,it still have the land for development along the route.

10. Third, the plan development of TOD2 and TOD3 in which I have previously emphasized would generate huge revenue and contribute positive earnings in the near future.
11. Forth, Ekovest has excellent and high quality concessionaires assets. It is the owner of the recently opened SPE tolled expressway. In additional it also owns 60% of DUKE 1,DUKE 2 with EPF holding the remaining 40%.

12. Once the mega proposal to reorganize, rationalize and merger of sisters companies is accepted, executed and completed, the most logical next step a businessman would do it the monetization of assets. Given a little time I believe Ekovest will shine and share price could shoot to the star.

13. Investment is about the future and driving forward with a vision and mission as in TSLKH's proposals. Unlike Realrich, who is repeatedly crying over Ekovest’s poor profit performance of 3m is already in the past And persistently harboring on it is like driving a car using the rear mirror. How good can it be?

14. The market does not anticipate any significant harmful impact arising from share dilution. The damage is fictional and an imaginary creation of Realrich.

15. Rich, People are tired and numb by you repeatedly humming on the same song.
Dilution Dilution Dilution.
You are not Taylor Swift. Are you??.

16. Hi Rich, many people in the forum say you are not smart. And you know you are not smart right, but just pretending to be smart by blowing your own trumpet.

16. I am encouraged by these people to close my write up and issue you an open competition and a friendly challenge. Here it is.

17. Rich, if Ekovest does not fall below 25sen by FEB 2024 in which you have claimed, than i am correct and you are wrong and you will have to write an apology for the sacrifices we have to endure all this while over the shit and nonsense you have posted.

Otherwise, my analysis is incorrect and you will not be ridicule again.

18. Let the share price be the judge.
29/12/23

1.SCG has a spectacular rise from 28.5sen in June 2023 to hit an intra day high of 43.5sen in the end of December. In the 6 months period, the counter has soared remarkably more than fifty two percent. (43.5 - 28.5)/28.5 = 52.6%

2 , The company has 800m issued capital.For the 9M ending Sept it has generated 746m in revenue and 17.01m in profit. The accumulated earning per share EPS for the 9M is 2.13sen.

3.For the sake of analysis, let us simply annualized the EPS with this formula. Hence, the year end EPS is (2.13/3) x 4 is 2.87sen

4. The current bursa market PE consisting of the 30 largest companies by market cap is 13.5x. Therefore, if we assign the bursa PE multiple for SCG, than the year end share price of SCG should be 13.5x2.87 is 39sen.

5. SCG closed at 41.5sen today. At this price it is deem fully valued.

6 This is my short term and personal perception of the counter. It is not a recommendation to buy or sell but is intended as a sharing by providing an alternate view. It may or may not reflect the actual situation of the company.

Happy trading
28/12/23

1.Today Ekovest opened with a bullish undertone and impressively gap up 1.5sen. During the trading session it hit an intraday high of 50sen and a low of 48.5 and closed remarkably at 49.5sen over comparatively huge volume of 35.9m shares.

2.The 9 day moving average has advanced upwards and moved from below to intercept the 26days moving average at 47sen. Two days ago, it was at the onset of forming a golden cross.

3.With the interception of the 2 moving average lines, Ekovest has decisively and successfully staged a Golden Cross at 47 sen. A golden cross is a chart pattern that is indicative of a bull market. And hence, more advancement in share price is reasonably expected technically.

4.The 14-day RSI Relative strength index which is technically a momentum indicator has advanced considerably from 45 points from a week ago to hit 55 points level last week has soared further to settle at 61.5 points at market close today. The positive sentiment and continued buying could possibly push the RSI into the oversold region beyond 75 points and stay elevated in the coming days.

5.Basing on the technical development plus the continued and persistent buying, the bulls in Ekovest could possibly conquer new territory and scale new height leading into 2024 and beyond.

Happy trading
26/12/23

I appreciate your remarks which are unique and unusual. There are sensible advice with a touch of flattery, full of praise and compliments.

It is heartwarming to note someone actually read and find the material useful.
My posting is not a war of words but constructive criticism and more of a friendly shouting compitition in the forum.

Zazzyy, I am happy to learn that you stand by me.
Thanks.

1 I have read your posting and I failed to understand and much less feel your anxiety and concern. For future reference and for the benefits of fellow readers, I have copied and pasted it hereunder.

2.DickyMe this is what you have said

***Ekovest political connection is gone.
Old man and gang have lost their power.
They say captains of sinking ship will drown with the ship.
No one can help them***.

3. To put it into prospective, by your expression, you are of the opinion that Ekovest is akin to a Titanic on a sinking mission. That literally means Ekovest will be insolvent, delisted and go into bankruptcy.

4.Now, let us examine what does it take to sink a ship according to the bursa listing requirements and Securities Commission listings guild lines

5. First, the company must have generated huge accumulated losses that trigger PN17. Even after it has been affected by PN17 the SC would allow the company one year to submit regularization plan. Should it require more time, it can request for an extension and further extension.

6. Let’s examine further. What are the criteria for PN17 in Bursa Malaysia?
The criteria for triggering PN17 are as follows. The shareholders ‘equity of the listed company on a consolidated basis is 25% or less of the share capital and such shareholders’ equity is less than RM40 million. This is the definition of a sunken ship.

7.Notice that, according to the latest 1st quarter announcement Ekovest has 1,256,139,000 share capitals and its total equity is 2,936,370,000. For Ekovest to sink, it must sustain 2,936,370,000 minus 40,000,000 =2,896,370,000 of future accumulated losses.
8.Hence, even if the management does nothing and the company lose 100m a year it will still take 29 years to sink the company. The number is so huge that it can withstand any economic and financial catastrophic phenomenon. Investors should not worry and need not lose any sleep.

9.This is a free world. Anybody can write and post it. But you must do it with responsibility.

10 Now, DickyMe it is your turn to explain and prove it with numbers Why Ekovest is
**a sinking ship and the captain of sinking ship will drown with the ship**

11. Be fair to Tan Sri and he certainly thinks otherwise.

Please enlighten us.
25/12/23

1.We are not perturded by the layman remarks on ROCE and have no qualmn to continue in our buying spree in ekovest.
2. In fact we are fully aware that Ekovest is still a loss company post covid with negative EPS and negative PE.
3. These are history and it should not deter you and much less influence and alter your strategy and plan investment.
4. A less than attractive ROCE is just one out of many indicators in ratio analysis.
5 it has no bearing and impact on share price. It is like a pimple on a young and pretty face. Soon it will fade n disappear and looking great and gorgeous again.
5. Investment is about the future. The greatest catalyst that push up share price are future profit and earning growth.
6. In this sense, the fundamental of ekovest has enormously improved. The prospect has brighten and attracted huge investors' interests.
First, ekovest has a mega corporate exercise in which TSLKH would inject 1.14b of assets into the company.
Second, ekovest will hold Credence that in turn will hold IWB and IWCITY that has a land bank of 4212 acres in the iskandar region and the city centre of JB.
3. Ekovest will acquire 15.83 acres of land in city centre and develop TOD2 n TOD3 along the RTS which would generate enormous potential profit.
4 these are some of the things and many more we do not know which ekovest will do to improve its earnings in the coming days and years.
5. Ekovest has high quality and value assets. You see, MRCE that own the johor EDL merely 7km and not even collecting toll fee is already braging so loud about its possession.
If you are not aware Ekovest has 3 expressways. Duke1 and Duke2 and SPE. They remain hamble and quiet about it. Someday when they take steps to monetise the highway, you will be shock by its value.
6. Roughly, the DCF of the 3 highways according to one IB analyst is about 10b. If you minus the debts 5.3b and divide it by 2965m share, the value per share from the highway is RM1.49.
7.Are you still afraid and frighten of ROCE?

8. There is no need to worry and be discouraged. Only fools and idoits plus the Realrich one would be intimidated and chicken out.

9. I will still go to the count down tonight and have a good time. And you should too.
24/12/23

The rich posting has no content and substance but purely nonsense and nuisance is a mindless vandalism to the forum.
2. We accept the apology from the thoughtless celebrity.
23/12/23

1. In the past, the shareholders of SCG were mainly unknown consisting of Ah kow, Ahmad and Samy without any hedge funds, financial institutions or high net worth individuals.
2.Dato has finally come to his sense and realize that he alone cannot do much and for the share price to move he needs the help of someone with deep pockets. The company must improve the quality of its shareholders with high profile anchor investor/s and much better from the institutions.

2. The most significant corporate development in SGC over the past weeks had been the disposal of 38m shares on 17/11/23 and 25m shares on 24/11/23 by Segamat Handal Sdn Bhd in the off-market transactions.

3. While we do not know the name of the new investors , they certainly created great confidence and generated enormous interest in the counter. SCG is heated up with volume and persistent rise in share price. This time it is real.

4. SCG is a key player and leader in the cable manufacturing business. A lot has been said and discussed in my previous posting and i shall not repeat it again here.

5 SCG is a long term fundamental value investing stock. Allow it some time to realize and maximize its full potential. We intend to stay invested

6. Someday your endurance and perseverance will be handsomely rewarded.
Happy trading
21/12/23

1.Ekovest closed 1 sen higher at 48sen over 27m shares traded. This number is comparatively lower than the volume of 64.7m shares traded 2 days ago. Today is T2 for the 64m shares and a lower volume explains clearly that there is no sell down or very limited contra transactions. Most of the buyers paid and picked up the shares.

2. In addition, there is evidence of fresh buying and the counter close higher in the green region. This is a sign of investors’ confidence and commitment to the counter.

3. Technically, as at today 20/12/23, the 9-day moving average is 46.83 sen. Investors are serious and bullish about ekovest and in last 10 trading days the closing share prices had consistently closed above the 9 day moving average line as shown in the candlesticks technical chart.

4.The 14-day RSI Relative strength index which is technically a momentum indicator has advanced considerably from 45 points from a week ago to hit 55 points level at market close today. It is only slightly above the neutral line of 50 and the strength of buying momentum could push it higher and probably would conquer new territory possibly in the 70 point level in the coming days or weeks. Hence, the RSI has provided a buying signal and a precious opportunity have emerged.

5.The 9 day and 26 day EMA is now at the inception or starting to establish and form a golden cross. Considering the huge improvement in buying interest, its volume and volatility, I believe the short term moving average will rise above the long term moving average in the coming days.

6. I view this technical development from the candle sticks chart as a strong signal and pattern indicative of a bull market. Better days for Ekovest are yet to come.

7. Those who have risk appetite would buy at the onset of golden cross whereas those who are not so adventurous would wait for the formation of golden cross and buy at higher price.
8.The choice is yours
Happy trading.
21/12/23

Silly and irresponsible remarks. Stop monkeying around.
I will not reciprocate from hereon.

I have never said IWcity will be delisted. This is your irresponsible remarks that again and again reflects your disgusting behavior and despicable characters.

1.Rich everyday you write irresponsibly and post them without facts and numbers and much less logic and intelligence. People are laughing and you still don't get it. Many had tried in vain to help and teach you. You are simply unteachable. I pity you.

2. Rich you cannot be more silly when you wrote and posted this. I copy and paste

**Any news who attended the AGM let us know if proposal everything rejected. I will buy. If proposal agreed I will wait 50% diluted at 0.23**

This is AGM annual general meeting. It deals with all the ordinary resolutions and ordinary resolution just need a simple majority which means TS alone plus a few votes from his friends is enough to make the resolutions carried and adopted.
The question of rejection does not arise.
Your question is as good as asking Realrich is your mother a woman?.

3. The AGM has nothing to do with The Proposal. It is a mega corporate exercise that requires an EGM. Your question truly reflect your ignorance and zero knowledge about Bursa listing requirement. In addition, the proposal has been accepted by the various companies and TSLKH already has a legally binding agreement.

The companies will undertake due diligence and enter into a definitive agreement. IB will submit proposal to SC. When the approval is obtained, company will prepare circular fix EGM to obtain shareholders' approval. This would be the working process.

4. Rich, your postings show that you know nothing about corporate matters. Hence, it is far better for you to remain quiet and be thought a fool than to open your mouth and remove all doubts, a famous professor would say.

5. Rich, Your now famous one line is always and invariably 50% dilution and share price would fall to 23 sen. You are a one-trick pony with only one special talent.,The proposal was announce on 27th Sept and in a few more days it would be 3 months. None of your assertion is good and it has yet to come true. Share price is as stubborn as your character. The former has not fallen much and the latter has not changed much.

6. Rich, you possess mosquito minds, shallow and small and you are incapable of understanding the rationale behind the proposal initiated by TSLKH and its ultimate objectives. You do not speak the language of business, unable to recognize value and mistaken diamond for a stone. You obviously did not read the proposal, unable to understand and much less appreciate the enormously huge effort expended to generate the master piece.

7. The proposal is to reorganize rationalize and mergers of sister companies. It is absolutely necessary and a valuable vehicle to unlock the value of land bank and to monetize the value of its great assets specifically the highway subsequently.

8.Rich you don't have and much less understand corporate minds and the working mechanism of big business. It is not rocket science and it does not take a genius to understand that Ekovest is the chosen company among the rest in which TS shall bet and place his money. It takes education and knowledge of OT and OB to appreciate the proposal.

9. Your understanding of organization theory OT is seriously lacking and you study on organization behavior OB has been acutely neglected.

Digest it
16/12/23

1.Ekovest is a counter designated for RSS and IDSS.

2. Last Friday on 8/12/23 the net shot position of Ekovest was 14,991,865 shares. This week the net shot position was 13,494,465. The published information and data indicated that the operators had undertaken shot covering and acquired back 1,497,400 shares.

3. The implication of shot covering endeavor by the operators of RSS and IDSS signified the price has bottom and stabilized in the immediate term. It is now forming a strong base price at 46 sen and above,

4. Notice, that even the shot sellers had turned bullish. Someday they will be taken out and share price will move upwards and sustain at elevated level.

5.Therefore in 3 months time or by 16th Mar 2024, Ekovest will not go down to 23sen. It is so ludicrous and laughable. Avoid being a clown, you will not succeed in turning the forum into a circus.

5.Instead, it could possibly add 23sen to close at 69sen when the proposal goes smoothly according to plan.

6.Hence, be bold and courageous when the Rich are coward and intimidated.

Happy Trading
16/12/23

RISK
May your investment prosper and portfolio flourish.
Thanks

Youngman,
I am glad to know that you have enjoyed reading my posting.
Hope it helps.
Happy trading

1.Ekovest soared to the recent height of 61.5sen in late September 2023. Following its announcement of a mega corporate exercise to reorganize, rationalize and mergers of sisters companies, the counter experience a drastic and enormous fall.

2. Share price has retracted sharply to bottom at 43.5sen or about 30% correction on 7/12/23 from its recent height and bounce back encouragingly following some good news on the progress of RTS and an unexpected quarterly small profit in its filing with bursa while many had anticipated a loss quarter.

3.The counter has heated up with volume and volatility and now is still struggling to form a solid base price at 45sen and above. What would happen from hereon? Let's analyse by using the numbers and facts from the proposal initiated by TSLKH.

4.The proposal has been accepted by the BOD of various concerned companies and TS now has a legally binding agreement.
5 Specifically, Ekovest will buy 70% of Credence at 1.14b and Ekovest shall issue 1.9b new shares at the consideration price of 60sen

6.Next Ekovest will buy 2 pieces of land about 15.4acre from DCM and KMSB for 310m and issues 516m new share also at the consideration price of 60sen
7. The corporate exercise would enlarge its current share capital from 2965m shares to 1900+516+2965 = 5381m

8 The market capital on the announcement day plus the assets injection would be the total value of the company.
8 So, the value per share will be the total value divided by the enlarged capital. Hence
[1719+(1140+310 ) ] / 5381 = 58.8 say 59sen

9 The market value of an assets will be valued and determined by professional valuer. Traditionally, the market will apply a discount to the assets injection.

10 For the worse case scenario when a 30% discount is applied to the injected asset, the
value per share would be [1719+(1140+310 )x 0.7 ] / 5381 = 50.8. say 51 sen

11 From hereon the company will conduct due diligence, prepares definitive agreement, submit proposal to SC and bursa for approval, prepare circular fix EGM to obtain shareholders' approval and then implementation and execution of the entire proposal.

12. This will take time and i believe share price will gradually move back to 59sen according news flow and development.
13. The excitement begins and value enhancement will take place after the completion of the reorganization, rationalization and mergers of subsidiaries companies and when all the shares or 51% of the enlarged share capital of Ekovest is in the name of TS.

14. Number one ekovest through its acquisition of Credence will hold substantial stake in IWB and IWCITY. In its filing with bursa and according to the proposal, IWH has 3250 acres of strategic land bank mainly located in the city center of Johor Bahru and IWCITY has 962 acres of land bank in Johor. The total land bank is 3250 + 962 = 4212 acres.

15. I am not a professional so i cannot figure out what is the value of 4212 acres of land. Perhaps you already knew Sunway only has 3308 acres of land and the GDV gross development value assigns to it is Rm53b. Now you do the math for Ekovest.

16. Next the 2 pieces of land acquire from DCM and KMSB in the vicinity of RTS are used for the development of TOD2 and TOD3. The RTS is a 1.98b project currently under construction by Ekovest and others. The value of TOD is currently not known but would be huge.
17. The value of Ekovest is in the Expressway DUKE1 DUKE2 and SPE.
EPF has a 40% stake in DUKE1,2 whereas SPE is 100% owned.

18. According to analyst report from UOB a month ago, the value of DUKE and SPE is 4557m and 5170m respectively on a DCF basis. Ekovest has MTN about 5.3b so in simplicity the net value of the expressway is 9727 -5300 = 4427m

19. Therefore the value per share just from the expressway alone is 4427/2965 = Rm1.49

20. This is my personal perception and opinion of the counter and the company and it is written and posted as a hobby and past times. It is intended as a basis for sharing, learning and earning together.

Happy trading
13/12/23