The way SAPNRG is coming down, it will be <30sen per share before end of this week.
This will means its market quoted price can be lower than right issue price @30sen. When that happens, it would be interesting to see how the CEO reacts.
If he revise the right issue price downwards, say to 20sen to 25sen, SAPNRG's price will drop further in tandem, until 0sen probably. Just kidding. But it really interesting to see how things turn out.

WoW, moved up so fast...
I prefer it moving up gradually lar. This kind of strong momentum is scary and sustainable or not..
Pls slow down pls slow down. I am happy with u but u look too scary now.
My tp is 40sen.

KYY lost in Jaks, trying very hard to earn back from LionInd, that's why he needs your money and promoted extra hard..but too bad, the quarterly earnings seems like not standing on his side.

In addition, Parkson reported loss. That will surely impact LionInd's earnings.

Guys, go and read SSteel and AnnJoo quarterly reports, u would know LionInd's Apr-Jun'18 earnings is likely bad lar...UNLESS there is any unexpected one-off gain.

EForce's gross profit margin is consistently at 60+% level and it is a net cash company. I suppose that's why it deserves high PE.
Its stock price was ~RM1.60 in beginning of year 2018, it has dropped 50+% YTD without any change in its fundamental.
I suppose its stock price would climb up gradually to close the gap.

WCT's debt is high due to its business nature, it owns many investment properties. It is the same as other concessions business which, for example, own highway. Their debt tends to be high too. However, this is not a worry as the investment properties can generate recurring income to WCT and the profit margin in this segment is very high.

Having said that, WCT management also reckon that their debt level does not meet their target, therefore, they have been focusing on de-gearing activities which include selling the idle land bank & etc. I do see their initiatives in reducing the debt level.

All stocks promoted by Uncle Koon doesn't end up well, just look at Jaks and LionInd.
Hope all can learn from recent experiences and not to fall into traps again in future.
I seldom see KYY promoted so heavily on one stock and came out so many promotion article in short time interval like in this LionInd's case. This just showed that his confidence is shaking and nervous and that's why need to shout louder.

All the 3 segments showed improved revenue in this quarter.
What impressed me more is the performance from its property investment and management segment, the commencement of Paradigm Mall in JB in end 2017 are contributing more and more to the earnings of this segment. The rental revenue will be consistent as people do not rent for one quarter and move out. Thus, I am expecting consistent recurring income from its concessions.

Besides, WCT management is doing their best in de-gearing initiatives to reduce the debt level.
At current price and core profit in past 4 quarters, WCT is selling <10x PE multiple which is undervalued for established construction, property dev and concessions company like WCT.

Both revenue and profit margin have improved. Even without the forex gain, Reach would have recorded a profitable quarter too, do not forget to add the portion from minority interest.

From the quarterly report, management gave the reasons for improved performance :
"Rev YoY increased 66% due to increase in production volume, higher crude oil price. The average production of Q2 FY18 has increased to 2,900bopd from 2,500 bopd in Q2 FY17".
"EBITDA YoY increased 1510% due to higher revenue and efficient cost control. Forex gain also contributed to higher profit in this quarter."

The increase in oil output and higher crude oil price are the main reasons for improved performance. The strengthen of USD will help too as Reach Energy sell oil in USD. The oil output will continue to increase in 2H2018 due to production commencement of North Kariman Field. We also know the crude oil price is strong and on increasing trend now. Oil price may increase further after the Iran sanction in Nov'18. USD is also strengthening. All these positive factors will propel the earnings of Reach Energy in subsequent quarters.

AnnJoo's poor earnings in this quarter was also impacted by forex loss and relatively higher effective rate, otherwise, the core EPS should be higher and comparable with Q2FY17, albeit it is still much lower than preceding quarter.
Well, poorer earnings QoQ was expected. Its stock price has plunged 49% since beginning of 2018, so I suppose all the negatives have factored into its current stock price.
The Apr-Jun'18 quarter was also impacted by Ramadan holidays and hence lower construction activities. We should see some improvement in Apr-July'18 quarter. This quarter could be the worst quarter for AnnJoo.

It's stock price should come further down tomorrow as people will react to today's result, but should not be gap down.

Great result :)
The earnings improved both YoY and QoQ.
At today's closing price, WCT's stock price is still down by 43% from RM1.62 per share in beginning of 2018. With this great result and improving sentiment, I suppose WCT's stock price should move upwards and close the gap from now onwards.

Earnings improved YoY and QoQ, good result !
It's closing price today is still 60% down from beginning of 2018, but EForce showed higher earnings both YoY and QoQ in this quarter. I suppose its stock price should be revised upwards to close the gap.

Reach turned green liao !
Reach has put in a lot of efforts in carrying out Intensive Well Workover campaign to optimise currently producing wells and to revitalise shut in well stock. It also simplifies distribution logistics to cut cost & etc since Reach management took over. I suppose we can start to see their efforts yielding fruits now.
The subsequent quarters should show improvement as its North Kariman Field is prepared for production of approximately 1,000 bopd in 2H 2018. As the oil price is stabilised at >USD70 pb and on increasing trend, Reach's potential is just becoming greater.

SooJinHou, well said and good comments.
Pride is the root of all evil. There is no wisdom in pride.

SooJinHou has said it well. I agreed with his points and comments.
If I were Jon, i would read the comments a few times, take it to heart and really reflect on them.
Pride is the root of all evil. There is no wisdom in pride.

LionInd, AnnJoo will also report lower QoQ earnings, so don't be surprised when the report comes out.
For Masteel, I suppose it will report much lower earnings QoQ because it will suffer high forex loss.

Lower earnings QoQ is expected long before the quarterly report comes out. It was due to lower average selling price and lower demand during Ramadan holidays. Many sources have revealed this info, nothing surprise about this Q's earnings.
We should look into July-Sept'18 quarter to find out local steel price 's movement in July-Sept'18 and its demand. From here, we can estimate the earning potential of SSteel in near future.

Good result !
I suppose its stock price can back to RM4 level soon :)

I have interesting questions, anyone who know the answers pls share.

I) If SAPNRG's stock price drop below 30sen (which is the right issue price), no one with right mind will pay 30sen to subscribe the right issue then, so does that mean the corporate exercise cannot carry on ?
ii) If SAPNRG's stock price drop to, say 35sen, which would be lower than the RCPS' fixed price of 41sen. I believe shareholder will then refuse to subscribe for the RCPS as the conversion ratio is 1 RCPS : 1 ordinary share. Can the shareholder choose to subscribe to right issue only and not the RCPS ?

Pls share. Thanks in advance.

KYY came out another Jaks article to promote Jaks liao. Be careful ya, this could be his tactic to push up price so that he can escape at higher price.

Many many export-oriented stocks will see higher EPS QoQ lah. This is mainly due to forex gain in Apr-Jun quarter vs forex loss in Jan-Mar quarter. The forex loss turns to forex gain can make quite a difference.

Calculation :
Core EPS in Q1 and Q2 were 5.92sen and 6.09sen.
If annualise, we get 24.02sen.
8x PE is 24.02 x 8 = RM1.92 per share.
10x PE is 24.02 x 10 = RM2.40 per share.

The earnings improved QoQ mainly due to forex gain in this quarter compared against forex loss in preceding quarter. This statement is also mentioned by management in quarterly report.

If exclude forex gain, the core EPS in this quarter is merely 6.09sen. The core EPS in preceding quarter without forex loss was 5.92sen. This means there is only a very small improvement QoQ if exclude forex gain/loss.

LiiHen's sales and revenue are good due to good consumer sentiment in US market. But its profit margin continued to face challenges from shortage of workers, and higher costs. I suppose the challenges will remain in subsequent quarters.

If given 8x to 10x PE multiple, the fair value for Liihen is RM1.92 to RM2.40 per share which is lower than current stock price at RM2.89 per share..

If market expects the coming earnings would be on par or higher than preceding quarter, then I suppose market will be disappointed and LionInd's stock price will plunge.
If market expects lower EPS than last quarter at ~5 or 6sen EPS, then probably that is achievable.

I wonder what is the expected earnings for LionInd in Apr-Jun'18 quarter ? and what would be considered below expectation ?

The Apr-Jun'18 earnings is almost sure to be lower QoQ due to lower demand and lower average sales price. So, the question is what do market expect ?

When the good quarterly report came out on 21st Aug, there are only 2 comments in i3 forum till now. This shows how unpopular Deleum is. But this is exactly the reason why it is so unknown and can stay undervalue.
I believe when its earnings keep improving in coming quarters, attention will be attracted and Deleum will deserve its fair value then. I would just hold and wait.

Deleum registered improved earnings YoY and QoQ in this quarter, even its Integrated Corrosion Solution segment recorded loss due to MCM contract start-up and mobilisation cost.
In coming quarters, when the start-up cost is no longer needed and MCM contract implementation picks up pace, the ICS segment will back to profitability and Deleum's eanrings will go up to another higher level.

The mega infrastructure projects won by Econpile are LRT3 and MRT2, which are on-going. The cancellation of ECRL has no material impact to Econpile. It is the impact on construction industry that pushed down Econpile's stock price yesterday.

New capacity expansion will be ready in Q3 & Q4 FY18 to improve revenue and earnings. In addition, Q4 is seasonally strongest quarter for Muda (just check the trend in past years and u will find out). Thus 2H 2018 earnings should be higher than 1H 2018, and management has hinted FY18 earnings will be higher than FY17.

Buffet said "He is a good investor bcos he is a business man, and he is a good business man because he is an investor". The skill in investing helps in doing business and vice versa.
However, when I look at KYY, the above statement doesn't seem to be true. KYY should be a good business man (by referring to his wealth from business), but he is really a lousy investor. Why-leh ?

The same goes to LTKM. It made loss and its stock price still stands firm.

TeoSeng made loss but its stock price stands firm. Some stocks make loss and stock price lao-sai next day. Stock market is unpredictable.

KYY/OoiTB vs Calvin.
Let's see the stock price movement of LionInd on Monday to find out which side wins the first round.

Deleum is one of the few O&G companies that stay profitable in the down cycle of O&G industry in past 4 years. It gives decent dividend consistently too.
If you see its quarterly trend, Q1 is seasonally its weakest quarter, and earnings keeps improving when approaching year end. Thus, subsequent Qs should perform better than last Q1.
MCM contract implementation kick-in from Q2 onwards, oil price is stabilising and may increase after Nov'18 if Iran sanction materialise, plus USD is strengthening.
I think Deleum is attractive at current price level.

Oil and gas industry has been in down cycle for nearly 4 years already. This industry is recovering with proven evidence showed that O&G companies are getting more work contracts from oil majors as the oil price is stabilised at ~US70 per barrel level. You can read the quarterly/annual reports of other O&G companies and they all said the same thing.
It will take some months for the new contract to kick-off and earnings to come in. By then, their stock prices will go upwards.
I would avoid OSV and drilling rigs sectors as they are still over-supply and charter rate remains low. I suppose those sectors in O&G companies would recover later than sectors like FPSO, oilfield services, exploration & production, engineering & construction sectors.
I think it is time to collect O&G companies now as their stock price remains at low level presently, and hold for at least 6 months to 1 year to see through the recovery.

Reading the comments above, one thing I found is there are many many many people in i3 dislike KYY and are happy that he is losing money in Jaks.
I suppose this is the meaning of a person reaps what he sow.

Ang run Jaks' daily operation and intend to stay in business for long term.
KYY just want to make profit from Jaks' stocks, and then dispose and then run to other stocks.
Both have differ agenda, so how to work together leh.
KYY has suggested many of his ideas to Jaks management but so far I don't see any is taken seriously by Jaks management.
So if u hope both Ang and KYY can "work together", I suppose the hope is very slim.

I would wait for 70sen per share to have enough margin of safety.

Bursa announcement showed KYY continued his disposal on Jaks' stocks from 3rd to 8th Aug. I don't think his disposal during that period was resulted from margin call because Jaks' stock price didn't go lower during that period to trigger his 2nd round of margin call. I suppose he disposed because he just wanted to run and exit from Jaks.

Anyone who bought Jaks during 3rd to 8th Aug was picking up KYY's stock and helping him to escape. He came out an article on 4th Aug to encourage people to buy Jaks so that he can dispose to you. The evidence are all there.

So, do you want to buy Jaks at lower and depressed price ? (I do)
What you can do is not to pick up Jaks for the time being, and let Jaks' stock price fall and let his margin call to trigger. He then really has to force sell Jaks and the stock price can fall further.
You can then take advantage.

I suppose pig iron is also transportable like HBI. If that is the case, AnnJoo also can sell and export pig iron produced from its blast furnace(?)

Wow, very informative video and easy to understand. Thanks FutureEyes.
LionInd's HBI operation indeed has great value.

Newbie911, I didn't say I sell and I didn't sell. Which part of my comment above mention I sell leh ?
I hold and will add if it drops further post Q2 earning announcement. That was what I meant. Understand ?

AnnJoo is the safer bet for long steel stock lar. It's profit margin is good and pay decent dividend. It has hybrid furnace which gives it flexibility in selecting lower cost raw material to use.
LionInd I also like due to its expanding capacity, and Parkson is turning to profitability. The only concern is market has negative view on its acquisition proposal for Megasteel, but some people think that is actually a good deal as HRC can fetch good price now.
SSteel has lawsuit with its previous HRC equipment supplier, there is a risk of financial compensation if they lose the lawsuit. Besides, it's stock price does not drop as much as other long steel companies in this year, thus make it less attractive relatively.
Masteel I would avoid because it is sensitive to USD. It has negative exposure in USD, thus we should see quite significant forex loss in its coming Apr-Jun'18 earning result due to the strengthening of USD in Q2.

In general, the long steel companies are expecting lower earnings QoQ in Apr-Jun18 period due to lower demand for steel as a result of lower activities in Hari Raya month and drop in local steel price in Q2. So pls do not panic if see lower earnings in coming announcement. I suppose that has been factored into their stock prices.

The bird flu in Sabah does not affect LayHong farm so far. Thus, this is not an issue.
What I am concerned about is the lower demand for eggs and softer eggs price in Apr-Jun'18 period due to fasting month. Do not forget Malay is the majority in Malaysia, and their fasting month could really push down the demand for eggs, and consequently, the earnings for LayHong.
Having said that, its stock price has been down from 90+sen to 70+sen now, so I suppose that has already reflected the potential lower earnings in Apr-Jun'18 period.
I will add if its stock price come further down after the announcement of Q2 earnings.

I heard a lot of great people, including Warren Buffet, advise not to use margin finance in stock investment.
Well, I have to confess that I have been using margin financing in stock market. I did hesitate when I first using it, I had to then bcos my capital was not big enough.
I fully agreed that margin financing is a double edges sword, and I definitely won't encourage people to use it, especially newbies.
Having said that, i do not regret using margin finance. Conversely, it has served me well, and it amplifies my returns in past 5 years. Therefore, I am going to continue using it..oops..sorry for those who preach not to :p

The only reason I do not like about margin financing is the transaction fees is higher for margin account. If I stop using margin finance one day, it would be due to I want to save transaction cost.

probability, thanks. I enjoy your sharing in this i3forum too.
Some people in i3 forum are here to attract student, subscriber or investor, thus, they have to show their power and try to win in every arguments bcos they need to preserve their reputation.
For normal investor like me (I think u too) are not here for that purpose, therefore, we should argue less and learn more.

National car project has caused Malaysian needs to pay more to buy foreign car, government wants to launch 3rd national car now ???
I so far have supported the new government, hope they don't come out silly proposals such as ban 10-years old car, and now 3rd national car... I hope they appreciate the opportunity that rakyat Malaysia gave them in last election.

I hope BN opposition party will fight against the 3rd national car proposal. It is their job now.

It is not easy to gather so much hard data and complete the good article above. We should appreciate the author as he is giving us for free.
I may have doubt on the financial forecast, and the coming earnings may deviate from what have forecasted above. But, the reasoning and the logic of why iron ore price decreases and scrap iron price increases, and why LionInd has good earnings prospect from its HBI operation is there. We can take away the useful facts after reading the article above. I personally have benefited from it.