EAH is a TURN AROUND STOCK. It will easily surpass its IPO price of 25 cents. As long as it CONTINUE TO DELIGHT by giving GOOD TOP LINE & BOTTOM LINE performance, Just HOLD ONTO IT.

I don't have any frustration with this stock as I do not own it. I find it very amazing why certain people would want to invest in this stock when it does not have good financials and the company management who are majority shareholders have serious integrity issues.

There are other much better financially sound property stocks compared to this stock!!

I do not hold this stock as the financials are not good and my take is this stock will have SERIOUS INTEGRITY ISSUES as long as the current majority shareholders are STILL in charge.

Do u expect a company with SERIOUS INTEGRITY issues to be STRONG? For sure the minority shareholders will be SHORT CHANGED again...It is pointless to HOPE when the company has SERIOUS INTEGRITY ISSUES...as you will be HOPING AGAINST HOPE which results in HOPING IN VAIN...

Are you 100% SURE that there will be NO FURTHER INTEGRITY issues again in the future?

Ayam Tua,
What is your take on Hexza and PMC performance in Q 4 2013? If you think PMC will outperform Hexza, then sell Hexza and buy PMC...Sell 1,000 shares Hexza , you can buy 2,700 PMC shares plus some change to buy TUDOR GOLD chocolates.

This company has SERIOUS INTEGRITY Issues. Why continue to invest in this Counter?? Better get out or cut out and invest in better fundamental property counters like KSL which is hugely undervalue currently.

To All the NAYSAYERS and FENCE SITTERS of PMC,

I completely understand your position on PMC. I completely empathize with your concerns. The proof of the pudding is in the eating right...likewise the proof of PMC performance is the upcoming Q4 2013 results due to be released in Feb/March 2014. There is still some time.

Let us gaze into the FUTURE now and predict what will happen then...
In the event that PMC Q4 2013 shows very good performance of OERATIONAL PROFITS and good EPS, the following will happen;
- The NAYSAYERS will become FENCE SITTERS
- The FENCE SITTERS will become SHAREHOLDERS of PMC

As an Investor, I do not advocate any one to buy any stocks WITHOUT HAVING ANY KNOWLEDGE OF THE STOCK, ITS BUSINESS, THE PRODUCT IT IS SELLING, ITS BUSINESS STRATEGY, ITS PAST PERFORMANCE (you can get all these in the Annual Reports and the latest Quarterly Reports)...as this is a VERY SURE way where YOU AND YOUR MONEY WILL BE PARTED IN DUE COURSE. Once the money is gone, you have to work hard to recover the losses.

While there is still some time to decide before making the decision I would like to recommend that all Naysayers and Fence sitters to check out relative prices, the merchandizing display of PMC chocolates versus the competitors, buy some TUDOR Gold Milk Chocolates, TANGO Milk chocolates, VAN HHOUTEN Milk Chocolates, CADBURY milk chocolates in small packs , take off the packaging and give it to your family members(without packaging) to taste the samples that you had bought and ask for their feedback on which do they like in terms of taste preference. After tasting each type, please ask yout tasters to drink water to wash away the previous taste before tasting the other samples.

After having done this, Please ask yourself and your family members/friends truthfully whether you like the taste of TUDOR, TANGO and having tasted it, would you /they buy it again. Check out on the price affordability versus the other brands.

Look at the BIG PICTURE..The per capita of chocolate consumption is low in ASEAN countries and with the effects of rising disposable incomes of the Mass Consumers in the future years, chocolate consumption will rise in tandem with the rise in disposable incomes. The MASS CONSUMERS of Chocolates will go for TASTE and PRICE AFFORDABILITY...

Since Christmas is just around, have some fun doing this exercise...

Calvin,
This is the New Beginning for PMC

Salute to the Professional Management of PMC

PMC is heading in the RIGHT DIRECTION

TOWARDS INCREASING TOP LINE & BOTTOM LINE

SURPRISING ALL THE NAYSAYERS & FENCE SITTERS!!!!

JUST STARTED FROM Q4 2013 ONWARD...VROOOOM VROOOOM VROOOOM

ACT 1- Sell Assets

RESULT- Pare Down Debts, Cut Overheads

Just focus on selling to all the "Health and Value Conscious" mass consumers in ASEAN countries and these Mass Consumers will provide PMC "ENDLESS OPPORTUNITIES"

Strong effective CREDIT Management will Reduce tremendously The Risk of Bad Debts. The Risk of Bad Debts must not be a deterrent to Increase Gross Margins that result in Increase Earnings that pay Dividends to Shareholders

Yes Huangbk72, PMC should focus on building up its OWN BRANDS , Market and Sell its OWN BRANDED CHOCO Products to the MASS ASEAN CONSUMERS. If it could do it in the immediate future, it should free up valuable production time on Contract Manufacturing and Focus on producing its own branded Choco products thus earning higher gross margins on its BRANDED PRODUCTS and deliver Higher EPS which will result in Higher Share Price and pay dividends to REWARD its Shareholders.. It is a very simple business model, easy to understand and easy to execute.

PMC at this juncture is best to focus on creating effective but inexpensive brand awareness campaigns, creating consumer trials, inexpensive consumer promotion campaigns in HTOs on existing product ranges in current packaging form.

There is opportunity to develop "affordable yet contemporary healthy chocolate products or chocolate related products that can be immediately consumed without having to store it after consumption"...healthy but Value buy product appeals to people on the GO in the rapidly urbanising ASEAN societies...and widen distribution channels to provide affordable,healthy and value products availability to these mass consumers

However it is important to always be conscious not to offer Voluminous Products that cost very few $$ per cubic space as this is clearly not sustainable due the increasing transportation costs...It is better to offer high $$$ products per cubic space that is affordable for mass consumers

10% maybe a bit too low....you are fearing too much and succumbing to your fears....majority of minority shareholders will not agree....may even catalyse civil court actions to challenge LOW valuation....does KSL majority sahreholders want to be perceived as anything which they would not want to be perceived?....perhaps +25% maybe a starting point???

Calvin,
I am just a mere human residing in this place called Earth , I take people for what they are, What they believe in, Not what I expect them to be, Each person is free to decide on their role in this global society, I am of the opinion that diverse views is a precondition for sustained development of the human mind, it is one's self responsibility to try as much as possible to develop an unbiased objective view of anything...

Dividend Pay out had been withheld since 2011 to conserve cash flow to fund future development. Earnings downturn?? Very doubtful as KSL is focussing on selling high end properties in KL and Greater Klang valley property assets ..a migration up from selling medium price properties.

There is a real possibility that the Controlling shareholders may want to take KSL private as current market price is very out of synch with its true worth. It is even very strange that the Market cap of KSL is below the Total market value of KSL City Mall + Hotels Properties!!

Can KSL Market Cap truly be a SUBSET of the Market value of KSL City Mall + Hotel Properties when KSL City Mall+ Hotel properties itself is only a very small SUBSET of the TOTAL LAND ACREAGE THAT KSL OWNS???

Can anyone solve this amazing yet bewildering mind blowing PUZZLE?

Dividend Yield is Good...The DY can get even BETTER in the FUTURE YEARS from INCREASING EBIT from Plantations & Properties Development..MKH is Good for Medium to Long Term Investment

Yes Is'nt it amazing...The Market Cap of KSL total issued shares is lower than the Total Market Value of the KSL Malls and Hotels...One wonders what is the real worth of KSL ???.

The past results were indeed amazing and let the management continue to dish out the amazing results in the future. KSL @ RM 2.13 per share is now trading at PE 3.3..Isnt this amazing as well? Isn't the market price of KSL @ RM 2.13 very undervalued...??

Why is the market undervaluing KSL???

As long as PMC Choco products targets the "Value chocolate consumers" and organizes its resources to provide availability and affordability of PMC Choco products to these "Value Conscious Chocolate Consumers" in ASEAN countries, PMC has a bright future ahead as currently it has a definitive edge in taste over its local and global competitors manufacturing in ASEAN countries as Economic growth in these countries accelerates in the future years

The disposable incomes of majority of Singaporeans had not really improved over the past 10 odd years and the new migrant workers have also not seen much improvement in their disposable incomes as living cost is high in Singapore.

Consequently economic circumstance influence most Singaporeans and migrant workers to be value conscious as they r feeling relatively poor in a rich country with GDP per capita exceeding USD 50,000.. As such PMC marketing strategy of offering "Value for money Chocolate products" is the right strategy to gain mass consumption and induce repeat purchase from these "Value Conscious" consumers.

However in the event that disposable incomes of the average working Singaporeans improve in the next few years there is a good likelihood that easily 15% to 25% of these consumers will trade up and this reality may occur sooner than expected as World Economic growth spike up in the next few years.

MKH is Good Dividend yielding stock besides providing the future prospects of significant capital appreciation from increasing profits from palm oil n property development.

Singaporeans will trade up. PMC Choco products is and should be targeted at the masses...per capita consumption of chocolates in ASEAN countries is still very low ..there there is unlimited opportunities just in ASEAN chocolate markets as per capita disposable income among masses will increase over time.

From the strategy viewpoint, PMC target consumers are the masses of people whose disposable incomes will rise as economic growth gathers pace in the various ASEAN countries.

PMC products currently is appealing in packaging. is affordable and has the edge in taste and the marketing strategy should continue to target the masses particularly in High Traffic Outlets. With growing urbanization there is further opportunities to be tapped in targeting younger consumers and people on the go as a snack supplement chocolate food or just a snack impulse product where the cash outlay is very affordable that is sell in smaller packaging.

There is just too much uncertainty n it is really doubtful whether BN n Pakatan can really cooperate to work together. Very unlikely that they have the will to cooperate.

Kukuman,
Agree 100% with u Kukuman. BENALEC Owner shareholders who are also Management has serious integrity issues. They just cannot add value to ALL the company shareholders ..besides RAPID in Pengerang will not be that hot...if anything..it will de very much downsized as PETRONAS is focussing more in Canada Shale Gas Assets which they recently acquired...

If want to invest in property stocks, Better forget Benalec & cut out on Rebound. Invest in KSL where the owner management are moving from medium end to high end property development in Greater Klang Valley area and KL high end properties. KSL EPS is very good, PE about 3.3 cash flow is good and improving

KSL is very much undervalued now at RM 2.13 and has not really moved upward unlike other property counters.

KSL is moving from medium end property development to HIGH END property development in KL and Klang Valley area. This business strategy will give KSL the EARNINGS UPWARD KICKER.

Between Daiman, Crescendo and KSL, My favourite pick is KSL as the Management is VERY PROACTIVE unlike Daiman , although Daiman is a good long term play counter with very undervalued land banks, it is rather SLOW MOTION, not so pro-active as KSL as the owners are not hungry anymore...moreover with the introduction of Sunday as working day in Johor State , I expect some slowdown there.

Buy slow...don't buy at one go....as Q4 2013 results will be out by Feb/March 2014...If results is good which I think it will be, price will slowly inch upward..

When Sellers Volume outnumber Buyers Volume by more than 2 times with many buyers and sellers but price steady & lowVolume transacted it means slow collection happening...

messibarca,
This is the time to monitor and slowly collect when Volume is thin, Not many people r much excited....If you are a momentum player then better focus on other momentum counters where you crave for lots of adrenalin, pangs of exhilaration , get your high on momentum play...

Now No high , No ecstasy yet....just collect at best buying price possible...

messibarca,
Wait for Q4 2013 results in Q1 2014

PMC-->TUDOR GOLD, TANGO my friends--PMC WOW COMING SOON...Better get in before it WOW WOW WOW

Calvin,
High Traffic Outlets such as GIANT, AEON, TESCO, ECONSAVE etc i.e Hyper market,Super market chains

How is the current sales force structured? Does PMC has dedicated sales cum sales promotion team to target HTOs?

Calvin,
How does PMC sell TUDOR , TANGO to the major HTOs.. Is it PMC DIRECT to HTOs Direct or PMC-Distributors-HTOs?

Steven Yong,
Your disappointment is ALREADY in PMC Price....I too know that.. that is buy I had bought... Think about the future situation when you are not disappointed n very pleased...What will the price be then???

ksng0307,
Good product lacking proper marketing plan is ALREADY in the PRICE now.

When PMC starts to move and accelerate to fast and furious pace, the NAYSAYERS will be feeling very sorry for themselves , musing and be saying.. "I WISH I HAD BOUGHT PMC AT 24 cents then...SOB SOB SOB SOB" but ksng0307 will be laughing all the way to his Bank!!!

HAHAHA that's great !!!

Lets assume Shopping Mall & Hotel market value = RM 1,000 million
Total issued shares = 390,547,486
Shopping Mall and hotel value per share= RM 2.56 per share

KSL share price now@ RM 2.23 is way below its TRUE WORTH....
KSL is a VERY UNDERVALUED , IS AGREAT BUY at this price...

sklyte,
We all learn from one another...thanks for your kind words...i3 forum is a great platform to widen one's investment view as I see lots of discussion, sharing of ideas not necessarily complementary ideas but nevertheless it is very healthy, informative and good for learning

Cutie, You think it cannot be done then it cannot be done..it is just that simple. You are entitled to your views but others do not think so as what you thought to be so. I leave this with you..

Nothing is impossible to the focussed human minds when it gets going..it sees possibilities whereas others ONLY see impossibilities

cutie, You cannot generalize and say its all the same. Each company has its own characteristics and if you want to know more do more desktop research and go ask people who are in similar industry on their perception of the company that you refer to or come to i3 to find out more or go other places to find out more. That way you are truly being fair to yourself not to hold preconceived prejudicial views.

To turnaround a company, It is not a major problem...You just have to focus on What to Turnaround and organize your resources to Turn it around and Grow it.

Sometimes people put too much barriers in their minds.. that is the biggest problem as they psycho themselves with "IT CANNOT BE DONE" mind-set.

EQplusIQ, If you tell yourself "I CANNOT" then Nothing will happen and forever you are "I CANNOT". However if you tell yourself "YES I CAN, THE WORLD IS MY MARKET" then something positive will happen. You will organize your resources to achieve your target unless you are "TIDAK APA ATTITUDE". I don't think PMC professional managers has "Tidak Apa Attitude"

The First Step is to REDUCE OVERHEADS and this had been done. The second step is to INCREASE Top & Bottom Line and this will revealed by the upcoming Q4 2013 results and the future results.

messi, Nothing is impossible to the focussed human minds when it gets going in this world...

I agree with Huangbk72 as base on historical evidence, most family companies do not last more than 3 generations. It is impossible for FAMILY to supply the Business Talents FOREVER. In fact majority of Family owned and family operated companies do DIE or fare miserably after 3 generations as the succeeding family talents are at sub par compared to better talents elsewhere.

THE BIG POSITIVE FACTOR for PMC is it is now professionally managed and current management of PMC is held in good regards by the people in the FOOD Industry.The professional managers in PMC are on the right track. They sold off a property in Singapore to REDUCE OVERHEADS and increase CASH AT BANK. The management will be focussing on promoting and selling OWN BRANDS such as TUDOR GOLD, TANGO & CRISPY. This is the right step forward as this accords higher gross margin contribution and away from reliance on contracting jobs with very low margins.

Look at the BIG PICTURE . PMC sells to the WORLD. World GDP per capita will keep on increasing in the future. As disposable incomes goes up consumption of Food Items will go up including PMC chocolates such as TUDOR GOLD and TANGO.

I think it is PREMATURE to jump into any conclusion on PMC now. The management is doing the right things to date and let us be a bit patient to see what the Q4 2013 results will reveal due to be released in Feb/March 2014.

Things are stirring in PMC but at this moment many people do not notice it or are distrustful and ambivalent towards it. In this kind of scenario, Is PMC overpriced or under-priced...Is PMC a buying opportunity or otherwise. I leave this to all of you to decide .....

Kukuman,
I have look into your questions and my response is as follows:

1) Why the owner of the company don't care much of their share price which has been depressed for so long? Go ask IOI Lee. Lee will be mad hopping even if his IOI Corp's price drop 50cents. He take pride and ego for his company share price.

Answer: Lee is owner operator, a driven man, a hands on business builder. Lee started small, took over business, drives UP top and bottom line performance over the years and company grew BIG.IOI price now is RM 5.80.

PMC price now is 24 cents. Your Uncle Khoo was former banker ..USE BIG DEBTS to buy over companies to build BIGGEST company in KLSE but empire crumbled over the past 30 years as the HUGE DEBT was the MILLSTONE AROUND Uncle khoo or MUI NECK. His empire crumbled as he sold off companies to pare down debts. He is still paring down debts. You got to ask yourself this question. Did Uncle Khoo tried his very best or he did not try? Frankly you cant do much if you are still paring down debts. He did try his very best as much as he could to arrest the crumbling empire as the debt was huge and he needs time as his major investments were in properties and properties take time to appreciate in value. Now he can sell off properties to retire debts and REALIZE GREATER VALUES for the respective companies. 2014 is a good time to do something major to restore his crumbled empire into sound financial status and drive UP VALUE.

Which is a better buy now? IOI at RM 5.80 or PMC at 24 cents?

2) If Uncle Khoo really holding 80% of company share, don't he wantvthe price to be higher like 2.40 instead of miserable 0.24? No need go far. If you are the owner of the company, and u have chain of hotels and assets, u certain want to use to the max advantage to help the share price.

Answer: You have a good point here. If I am owner I will want PMC share price to be envy of ALL. Uncle Khoo had been paring down debts and it takes time to dress up companies before selling it. Perhaps TIMING TO DO SOMETHING FOR PMC WAS NOT GOOD IN THE PAST YEARS and maybe Uncle Khoo will do something for PMC STARTING 2014 to help share price in 2014 and beyond

3) Why penchant for cash payout when can use it to make the balance sheet better and thus support the share price higher

Answer: CASH PAYOUT is TWO PRONGED.
No 1: HELP MUIIND as MUIIND NEED HELP FROM PMC
No 2: RESTORE PMC Balance Sheet to empower PMC to Pay dividends in 2014 or 2015 and beyond.

Balance sheet for PMC not good now to pay FUTURE DIVIDENDS. PMC has accumulated losses of almost RM 41 million so cannot pay dividends. PMC has to wipe out accumulated losses by reducing par value by at least 5.78 cents but PMC can fund reduction of par value by 10 cents from CASH at Bank. PMC share par value be reduced to 40 cents share and PMC can consolidate share 2.5 existing share@40 cents par value into 1 share @ RM 1.00 par value. PMC does not require so much cash for working capital plus new capacity/product investment in 2014. Purpose of capital reduction is to wipe out accumulated losses of about 41 million so that PMC can pay FUTURE dividends in 2014 and beyond besides helping MUIIND.

The best time to IMPLEMENT Cash Pay out and Capital Reduction is after the Q4 2013 and Annual Report 2013 is released in Feb/March 2014 as by then PMC should be able to give confidence to all shareholders that it can generate OPERATIONAL PROFITS for 2013 and beyond.

Please advise what is your thoughts pertaining to my responses above as I see this as a good platform for a healthy, frank and fruitful discussion.

Good Night

mktwatch,
Thanks for your advise.

Calvin,
Was there any detailed Cash pay-out cum capital reduction proposals which culminated into concrete resolutions that was adopted by shareholders in attendance made during the last PMC AGM? Was there a specific time mentioned for this exercise to be completed?

lcng123,
KSL owns KSL city mall plus hotels and resorts. What is the approximate market value of such properties? Thanks for your advise.

Calvin/mktwatch,
Please advise on your input on the calculations below;
Issue share capital of PMC= 773,357,000 shares
PMC total reserves(loss)= -40 million
Therefore capital loss per share= 5.17 cents per share
Par value per PMC share= 50 cents

To wipe out the capital losses, PMC will need to reduce capital by MINIMUM 5.17226 cents per share or say 5.2 cents per share.

So the new par value of PMC share will be = 50 -5.2= 44.8 cents...Is that correct

PMC has cash at bank= 100 million
PMC turnover assuming + 30% growth in 2014= 18 million/qtr X 4 qtrs X 1.3=RM 93.6 million for 2014

Working Capital required = 23.4 million

Potential cash payback= 100 million-23.4 million= 76.6 million=9.9 cents/share = say 10 cents/share

I have assumed that the proceeds from sale of building in Singapore is more than enough fund the investment in new production capacities in Shah Alam.

So in essence the par value of 50 cents can be reduced to 40 cents ( 50 cents-10 cents).

To consolidate into RM 1 par value, 2.5 shares will be consolidated into 1 share.. .

I have not factored in quoted and unquoted investments as these need more time to materialize in CASH.

Is that correct?

Calvin,
Based on your knowledge what was the original plan on capital payment back to shareholders? What was the planned investment for capacity expansion in Shah Alam?

Come on i3 investors,
Lets us look at the BIG picture...this forum is the best avenue for a healthy but critical exchange of opinions/news/critique on latest development/discussion/TA + FA /hilarious exchanges/serious Concerns/lively but intense rebuttals on any particular stocks.

Every i3 participants here are free to interpret and decide on every comments in this thread. Whether they agree/don't agree/ambivalent/not sure or not interested does add spice into this forum..

Let us continue in this healthy exchanges as this is a valuable learning process for most people...some may express views very strongly and others just mock the views expressed..it is very OK to have these healthy exchanges..

LET THE SHOW CONTINUE ...

to be honest their chocolate is more smooth than his peers and really got deep chocolate taste !!
BUT,,,...i doubt it can do well in Malaysia, so poor n weak marketing force,how to fight with competitor !!
their branding is so weak...not many ppl know...

mmaker,
This is also my observation...PMC has to manage its Marketing Mix more effectively to significantly INCREASE its top and bottom line growth and this is already in the share price.. right? If PMC management can indeed manage its marketing mix more effectively to create better brand awareness and imagery plus induce consumer trials/consumer promos the UPSIDE will be quite significant. PMC has winning products in TUDOR, TANGO in the respective product category it competes in...TUDOR and TANGO can induce REPEAT PURCHASE without any problem... These are potential CHAMPIONS in the making...just need to manage its marketing mix more effectively.

That is why I had invested in PMC as my take is the UPSIDE is significantly far more than Downside as it cannot get any worse than what it is now ...Other participants do not see much future for PMC products but I can see unlimited opportunities for PMC products if the Marketing Mix is managed more effectively ..the UPSIDE can be quite tremendous and surprise many naysayers...

Calvin,
Please advise on the Tax implications of Capital Pay-out(cash pay-out) versus Special Dividend Payment. Please consult the Tax experts in MUI or PMC on this matter.

If there is tax on cash pay-out it is better to go for special dividend pay-out to reward shareholders. It does make sense for MUIIND and minority shareholders to get cash pay-out and be taxed on the cash pay-out.