Yes, Mr. Koon, the spike in Oil Prices due to Irag problems will also cause all other oils, including Palm Oil, to rise in tandem.
I noticed that you are Top No. Eleven Share Holders of Mudajaya. I think if I am you I will switch to MULPHA Shares which I think should perform even better than all Plantation Counters.
Mr. Koon, if you have yet to know calvintaneng, he's infamous for giving misleading analysis and false news to people in many threads by way of badmouthing a particular stock and telling people to buy the stock he owns. He's been doing that countless times in many threads. I'm not badmouthing him, but facts are all available from his history of comments.
I am really curious how RHB carry out their valuation. For example, JayaTiasa made 0.84 sen per share the third quarter of 2014. For the 2014 cumulative three quarters, it only made 4.87 sen. So what kind of profit RHB is expecting JayaTiasa to make the last quarter of 2014 for the PE to be just 15.5? Jayatiasa is about 2.50 now. Note that the financial year 2014 is ending this month.
Mr Koon, as what is always underscored by Professor Glen Arnold, the investible companies shall have solid growth prospect, no question, Jtiasa clearly are able to meet this investment criteria. In addition, Prof. Arnold also places an equal emphasis on the management quality, i.e. companies must be operated by honest and competent people.
Unfortunately, Jtiasa have been consistently unable to translate the projections on paper into realised quarterly earning results. Persistently poor OERs since their venture into plantation are a serious matter. Is it due to poor management? Or is the missing OERs transferred to private pockets? Jtiasa is being run by Sin Chew family, and their integrity is always questioned in the street. This noise is too loud to be ignored.
You have attended Jtiasa AGM, and met with the company top guns. Are you able to smell something? Please advise.
Calvin, I have directed the question below to you in PMCORP thread but got no response from you. Later on I have posed to you the same question in MULPHA thread but still no response from you. Now I am posing the same question to you again in this thread.
Please advise on the following:
I had perused through the past threads starting in September 2013 and you had been instrumental in promoting that the cash payout was brought up during the AGM held in 2013 and the ex Financial Controller and another director was supportive of the cash payout then. Consequently the share price was ramped up to 37 cents, the Financial Controller suddenly resigned in Dec 2013 and PMCORP shares crashed leaving a lot of innocent investors who had expected cash payout in the lurch.
Was the cash payout brought out again during the recent AGM under any other matters arising? What was the outcome?
What was the Controlling shareholder and Management response towards this during the recent AGM?
The above table was produced by RHB Investment Bank's Alvin Tai & Hor Lee Leng.
If RHB Research House is so bullish on Jtiasa, then the next pertinent question is why RHB has issued the call warrant Jtiasa-cb at this juncture? To allow retailers to make handsome money by buying into Jtiasa-cb?
A smart investment bank (I think RHB is smart enough) would only issue call warrants when they are confident that the mother share price would not get any higher in the next 1 year. I'm sure those who have bet on call-warrants before would admit that they would eventually lose their pants because their bets in the long run are always reduced to zero value (toilet paper).
Please use some commonsense. Before RHB Investment Bank issued the Jtiasa-cb, they have already done their homework so that they can win big. Don't get trapped.
Yes Calvin, with all that analysis of yours, why are there all plus points but none a negative point? Is that Company so perfect? Did you even look at the Company past quarterly earnings?
Its making large losses many quarters with negative ROE, negative PE and negative EPS. I wonder if you take this into consideration. Oh wait, did I mention their gearing? Over RM1.6 billion of loans and borrowings, need I remind you.
1) Connecting Access Road Directly Onto PLUS Highway Just Beside Mulpha Leisure Farm. When Ready LEISURE FARM WILL BE THE NEAREST GATED & GUARDED HOUSING ENCLAVE TO SINGAPORE TUAS - ONLY 5 MINUTES AWAY!
calvintaneng talks like an expert with proven track record of a rich and successful investor. How many Mulpha shares do you own and when did you buy them? When do you expert the Mulpha share price to shoot up?
Actually I had left the stock market for 3 years for Iskandar property house hunting.
I just came back to KLSE in September 2013 - so I am no expert and have much to learn from every body here.
I first bought into Mulpha in year 2014 around RM4.20 to RM4.50. That was 20 years ago. Now that Mulpha has crashed more than 90% it has entered my investment radar screen again.
I don't have much money to invest. I bought some at 43.5 cts. When Mulpha will shoot up I really cannot tell. I owned both Kamdar & Pasdec before.
They both went limit up recently. Mulpha has much better assets and fundamental. I think Market should soon wake up to its potential.
Refer to your statement "I said that no share could continuously to go up or come down for whatever reasons and we must take advantage of this phenomenon to make money.", I think it might not applicable to all shares. It might be true for JTIASA where the plantation is a cyclical business.
But how above for the companies that able to expand it business continuously? Mr. Market might make some correction on the share price on temporary, but like what buffett say "In the short run, the market is a voting machine, but in the long run it is a weighing machine." Let's use PBBANK or NESTLE for example, there are companies with strong histories of profitability and the stock price is following it business growth.
For the company like PBBANK or NESTLE, is it better for us to use a buy and hold strategy compare to active trading strategy? If we sell half of the share after the price go up (say 30%), then when is the good time to buy back? What if the share continue go up (say another 30%) after I sale? Will I miss a chance to invest in a good company?
Cold Eye mentioned that Stock investment strategies can be divided into 上策, 中策, and 下策. If I understand correctly, he categorized buy and hold strategy on good company as 上策, while active trading strategy in a cyclical business as 中策.
It might be a good asset play candidate which we can evaluate it based on Graham Net Net strategy.
And based on graham, Investor have to weeding out the bad one and look for a business that is stable so that operating losses don’t eat away the existing cash and other components of Net Net Working Capital.
There are two possibles reasons why a Net Net may fail:- - Changing intrinsic value - based on development of business e.g. loss money & reduce it working capital - Market behaviour - stock price not necessary follow to the value that analyst place on it.
What worry me is the company is posting a negative earning for pass few years and it might eventually reduce it asset value.
Owing to this, Graham suggested to filter net net based on following criteria - “Reasonably satisfactory” earnings record and prospects: Companies that are losing money or have an erratic earnings history are likely to see their intrinsic value decline, making them less undervalued or potentially overvalued. - “Sound financial condition”: As a test for financial strength, Graham suggests looking for companies with total stockholder’s equity (common and preferred equity) greater than the total of current liabilities and long-term debt. - Positive operating cash flow for T4Q: To prevent companies liquidate assets to meet its obligations - Prevent Perennial net nets: companies that are stuck trading below their NCAV.
What's your view on MULPHA based on above criteria? Do you think MULPHA able to pass the filtering from Graham?
I am happy to answer this question. Total Assets minus liabilities show a Surplus for MULPHA.
As to Company burning cash. Management is disposing Vietnam 55 room Service Apt for RM32 Millions and others will follow. And Since Mulpha LEISURE FARM will Appreciate in Value further due to Greater Connectivity & World Class Amenities. I think the Increasing Monetary VALUE of LEISURE FARM's Prime Lands Will negate any further losses from operations.
And With VALUED ADDED SALES OF CLUSTER HOUSES & BUILD UP BUNGALOWS As Opposed To Selling Empty plots of lands. Going Forward Profits Will Multiply Manifold.
Management Has Also Promised To Raise Mulpha Share Price To Match Mulpha's NTA value.
I am holding out for my Target Price of RM1.50. Longer Term RM10.00. And I have just sold one low cost house. I am waiting to buy some more on weakness.
Keep mulpha out of this thread. Only comments on plantations stocks are welcome. The property upcycle has already ended. Create another blog to discuss property stocks.
Your words, "Erratic Earnings History" reminds me of KFima (Kumpulan Fima) years ago which I bought between 35 cts to 45 cts then.
Others have shunned KFima because of Erratic Quarter To Quarter Earnings. In fact KFima suffered losses in year 1999 -30 cts, 2000 -7.7 cts & year 2002 -29.9 cts. And from years 1999 to 2004 KFima gave zero dividend.
But KFima has NTA of over RM1.00 with pineapple plantations and others.
The rise of commodity prices subsequently provided consistent earnings and KFima price has done very well today. Now that KFima performs so well where got cheap anymore like 35 cts?
Mulpha and PMCorp share the same problems. Controlling shareholders take undeserved RM'millions of remuneration yearly to sit on a diverse pool of low-yielding assets, and they are very rich personally such that they would not have any urgency to drive the biz and hold themselves accountable to any yearly profit-target.
Mulpha is a typical value trap, as is PMCorp. As it involves too high opportunity cost, I cut Mulpha off many years ago at a loss at 53sen.
RM1 NTA today is worth less than RM0.50 in 10 years time if a company produces flat results year in year out for a decade. Land will appreciate of course but the sales for so many years of Leisure Farm in the past years seem to be barely enough to pay for operating expenses of Mulpha.
MulphaLand though was a nice insider play to drive the price up by 200%, but that was not designed to benefit outsiders like us.
Please base your words on accurate facts & figures. Total PM Corp Directors' remuneration is about RM100K plus only. And Mulpha Boss Mr. Lee own 38% Mulpha Shares. You think he wants his money to rot?
Didn't you see his remark to raise Mulpha Share Price To Match NTA Level?
And did you buy PPG at 52.5 cts? Up 20% in one week.
IT WILL MAKE SENSE TO FIND AND BUY UNDERVALUE SHARES
As DEEP VALUE HUNTERS WE MUST FIND STOCKS SELLING AT BIG DISCOUNTS. THESE STOCKS USUALLY HAVE PERCEIVED PROBLEMS. THAT IS THE REASON WHY THEY ARE SO CHEAP. THE GREATER THE PERCEIVED PROBLEM THE CHEAPER THEY ARE.
Stocks With Little Problems Are Public Bank, TM, MayBank, TNB, Dutch Lady, Nestle, CIMB, CMSB, UMW (I own for 10 years), TAKAFUL & OTHER WELL KNOWN SHARES. But They Are No Longer Cheap. Instead some are in Bubble Territories.
Yes, I bought all those shares as stated. Many I sold too early.
No, I am no Warren Buffet. I think KCChongNz & The Great Raider Will Qualify for that title.
I bought Pintaras Jaya cheap at RM1.40. I sold too early. If I had known our friend KCChongNz earlier and his superb write up on Ptaras, I would still be keeping it today. So I am here to learn like every body else. Learning is a life long process.
calvintaneng has written 5 comments out of the last 10. Please look at skyland's remark quote "skyland Calvintaneng seems like malaysia warrant buffet...all his share bought earlier all 100-300%...but dunno how true is it? 21/06/2014 21:14"
He sounds like a big gas bag, an empty drum makes the most noise. If he writes down all his current share holdings including Mulpha, I can easily tell you how successful he is.
Since he has given us the impression that he is a big shareholder of Mulpha. If that is true, I think he has to examine his track record to find out why he has failed in making money.
Four years out of the last 10 years, Mulpha lost money. The total net earning for the last 10 years is less than one sen per share. I will not buy Mulpha now until it shows a much better result.
There is a saying "In the stock market you can still buy the winning horse after the race". It means that you can still buy Mulpha after it has shown its fantastic profit.
KCCHONGNZ, HAVE YOU PURPOSELY FORGET THAT YOU SAID CALVIN IS TRUSTWORTHY AND I AM WRONG????APOLOGISE TO ME NOW!!!!DO NOT BECOME A CHICKEN!!!!!!WAKAKAKAKAKAKA!!!!
Calvintaneng, please do not turn i3iinvestor into a casino. Enough is enough. Do you know who is Mr Koon? Please go google to find out more information about Mr Koon. I'm thrown when you extended an invitation for this bet-who-will-win contest. Be real, kid! This is not a circus.
Posted by MrTigerShark > Jun 22, 2014 11:24 AM | Report Abuse
KCCHONGNZ, HAVE YOU PURPOSELY FORGET THAT YOU SAID CALVIN IS TRUSTWORTHY AND I AM WRONG????APOLOGISE TO ME NOW!!!!DO NOT BECOME A CHICKEN!!!!!!WAKAKAKAKAKAKA!!!!
Suddenly see this interesting posting.
Me apologize? To you? For what?
Let me be frank here. Calvin is a trustworthy person, I still think he is. He has contributed a lot more than a lot of people here. That includes you, no doubt. He was misled by the previous director from PMCorp I think. He over promote PMCorp, that I agree. I also think PMCorp has some credibility issues.
Calvin has certain investing philosophies, which I think i s much better than many, who has not a single clue about investing, except speculating. His philosophy is also proven, not just talking cock.
i support kcchongnz and calvin tan as good philosophers and good trustworthy online friends with positive contributions all the way .. need to shoot them then bloody take it on me ..
And To Honourable Philanthropist Mr. Koon Yew Yin & all here,
I am not here to be disrespectful to Veteran Mr. Koon. Ideas are shared that we may improve. I might be wrong after all. It is only a friendly contest to improve our investment decisions.
Even Our First PM Tungku Abdul Rahman played golf with PM Lee of Spore. A game has no harm.
He is at it again! Even KYY have to told him off. The great die hard promoter of pmc is evrywhere promoting his brand of "successful" investment ancient story where only idiot will believe him
Hiyah, why get so worked up leh, life is short leh , everyone has different investment philosophy mah, u stick to the investment strategy that had benefitted u most mah, if u want to be a trader good for u. If u want to be value investor also good for u, if you want to be fusion TA+FA good for u too as long as whichever method u use. u all make profit mah. If don't make profit then listen to uncle Koon advise lor n change investment strategy mah. So simple mah.
Now just decide whether u want to invest plantation stocks now or wait later.
Calvin, Uncle Koon which your eccentric friend Leno has no balls to say directly to him as "Pundan blue chip investor" had given good calls on quite a number of stocks. Kcchong also has but both use different methods. Uncle Koon has been successful for past 20 odd years. He must have a winning formula if not how can he be so successful? Why r u here seeking his endorsement for mulpha? Plse respect n take note of uncle Koon advise to u n maybe in future u can transform yourself lor. Adopt a positive mindset.
Uncle Koon advise to u is a god send message to u. Please take in good spirits. Well I appreciate uncle Koon communication style..straightforward advise unlike name calling him behind his back as "Pundan Blue Chip Investor" n having no balls to say directly. So please take uncle Koon advise to u positively.
Calvin Tan: I dont watch football haha! i stay late everyday trying to find "trading ideas" what people share onlines i merged it with my own techniques .. and yes , what you shared and kcchongnz .. so far it keeps my portfolios healthy beyond my own imaginations!
Money Making theories PMCorp/MUIIND introduced by Calvin Tan - outstanding AHB/Leeks introduced by Bonescythe - outstanding NTPM/Hexza by KcChongnZ - outstanding EAH/GHLSys by WiseEye - outstanding
few example how people ideas can make diffrence to one portfolios
the rest of people here just talk and talk and talk ..
like I said Calvin Tan and KcchongnZ - i support all the way
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MQ Trader 4556 views | 4 d ago
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calvintaneng
56,038 posts
Posted by calvintaneng > 2014-06-21 14:44 | Report Abuse
Yes, Mr. Koon, the spike in Oil Prices due to Irag problems will also cause all other oils, including Palm Oil, to rise in tandem.
I noticed that you are Top No. Eleven Share Holders of Mudajaya. I think if I am you I will switch to MULPHA Shares which I think should perform even better than all Plantation Counters.