Posted by kancs3118 > 2014-12-14 23:40 | Report Abuse

Hi Icon8888. Just asking, why people is equating 2015 to 1997 financial crisis? This is very worrying...

Posted by berakah > 2014-12-14 23:59 | Report Abuse

monitor BNM moves in this coming weeks, not sure can cause KLCI to waterfall ?

Posted by berakah > 2014-12-15 00:05 | Report Abuse

Foreign funds are exiting, throwing at any low price......they sense something will go burst in out money market?

Posted by berakah > 2014-12-15 00:27 | Report Abuse

habis lah ...no eye see........another attack !!!.....

Posted by optimuss > 2014-12-15 00:31 | Report Abuse

Berakah. Few diff from 1998.
Ringgit is now regulated.
Ci is now 30 vs 10.
stock r regulated in short. Vs no regulated
clob exchange ceased vs shorting bursa from spore.
Foreign reserve is now usd 150billion vs 20 b

Not easy to attack.

Posted by optimuss > 2014-12-15 00:31 | Report Abuse

30 vs 100

Posted by optimuss > 2014-12-15 00:33 | Report Abuse

No hedge fund wan to mess with a country that would use capital control as a weapon.

Posted by optimuss > 2014-12-15 00:35 | Report Abuse

Capital control is a poison pill. Either party suffers. Jys look at post capital control the country coma for 7 yrs.

Posted by optimuss > 2014-12-15 00:45 | Report Abuse

Why is everyone afraid of rinngit devaluation??? Yen devalued from 76 to 120 vs usd. Nikkei rocket from 10000 to 18000 within a few month. Unprecedented.

If ringgit from 3.50 to 5.00
Fdi flows in like crazy.

Klci maybe 2500

Posted by optimuss > 2014-12-15 00:48 | Report Abuse

1998 crisis killed many company on usd loan jus like high oil price kill many airline initially.
What happen to airline now? They hedge the fuel. The biz hedge the usd loan. Either by default or fwd swap. Its a requirement for big bank tat u hedge to get a loan. I believe.

Posted by optimuss > 2014-12-15 00:51 | Report Abuse

Third generation that mgt genting or hupseng graduated frim wharton or stamford business school. They donno the need to hedge after their grandfather nearly killed in 1998 crisis?? Cannot be.

Posted by optimuss > 2014-12-15 01:02 | Report Abuse

In the eye of foreign fund. Bursa is never attractive nor tradable. They have avoided bursa since 1998. Off ti indonesia.
Both 1999 low for klci n indon is mid 200. When indo reach 5000. Klci barely at 1300. So with so limited foreign participation. How much low it can get even if they dump all.
1998 was diff. That was the asia 4 tigers
Since then. The no.1 sick cat in asia.

Posted by andychucky28 > 2014-12-15 07:58 | Report Abuse

Ya this time would not be same as 1998 because the KLSE is self play and supported by the local institutional funds.

Posted by andychucky28 > 2014-12-15 10:03 | Report Abuse

KLSE is the worst performer in the region. That is the problem face when the gov get into the business.

Posted by kancs3118 > 2014-12-15 18:12 | Report Abuse

Hi Icon8888, for GOB - it seems the mother price is priced at RM0.50 - which is the same as the rights issue price. We live in very interesting time now.... :-)

By the way, i went through your Gadang article. It seems you are very interested about Capital 21 and does not mention anything about Gadang's construction order book. Why is that so?

Posted by optimuss > 2014-12-15 18:15 | Report Abuse

kancs, got regret or not?

Posted by kancs3118 > 2014-12-15 18:27 | Report Abuse

@ Icon8888, By the way, what do you think of GOB's debt? I am afraid it may go to Holland....the debt level is at a quarter of a million...

Posted by kancs3118 > 2014-12-15 18:30 | Report Abuse

@ Optimuss....regret about GOB? Depends regret about what? Regret i bought at RM1.07? Yes. Could have bought lower. Indeed, market gave me a few times of opportunities to average down but i do not take it. Regret that i subscribe to GOB's rights issue? No.

But now, just scared about GOB's level of debt - sitting at about quarter of a Million. Scared the level of debt is not sustainable.

By the way, i believe in Batu Kawan. The US MNC that i work in (cannot tell you the name) recently invest RM1.0B at Batu Kawan and GOB's land is just 5KM from the new plant.

Posted by optimuss > 2014-12-15 18:31 | Report Abuse

kancs, u may be sitting on losses for few years.

Posted by kancs3118 > 2014-12-15 18:35 | Report Abuse

@ Optimuss - why do you say so?

Posted by kancs3118 > 2014-12-15 18:38 | Report Abuse

@ Optimuss/ Icon8888, between sitting on paper losses for a few years versus company sinking under the weight of its own debt, i rather choose paper losses....

Posted by optimuss > 2014-12-15 18:40 | Report Abuse

why u trust desmond... he will only keep malton afloat. soon the gob asset will b stripe off.

Posted by optimuss > 2014-12-15 18:40 | Report Abuse

just like the last equine.

Posted by optimuss > 2014-12-15 19:03 | Report Abuse

patrick sold to desmond few yrs liao. u donno? patrick wear grass to perth liao u donno?

desmond don want to make it official is him don u find suspecious meh.

n how come got right issues?

Posted by kancs3118 > 2014-12-15 19:03 | Report Abuse

@ Optimuss...please correct me if i am wrong here.
Equine is due to Patrick Lim. Besides, GOB is currently applying for approval from MPPP Penang to approve their Batu Kawan phase (i don't know which phase) for sales launches early next year. Why bother to apply for approval and then strip the land later?

Just to reconfirm - i will drive down to Batu Kawan sales office to validate by this Saturday (20th Dec 2014). Just to be safe, will go up to Penang city council to check on the approval status for GOB Batu Kawan.

Times like this, better hit the ground to check the facts.

Besides, Malton have their own JV running at Batu Kawan (300 acres). Why Malton wants GOB's land (350 acres) for Batu Kawan? I don't think Malton has the capacity to develop over 600 acres of land.

Any reason why you said such as thing about asset striping ?

Thanks for the heads up.

Posted by optimuss > 2014-12-15 19:14 | Report Abuse

kancs, u r wastin my time, u want me to say good thing on gob isit?


ok gob will limit up and will goto 2.00 next year.
u happy? enuf. u r hopelss

Posted by optimuss > 2014-12-15 19:16 | Report Abuse

kansc, i m not a baby sitter. bye

Posted by optimuss > 2014-12-15 19:21 | Report Abuse

i only talk abt possibility. if u r so sensitive to bad news and only want hear good news u should ask icon888 directly, as he had promoted this counter in his 12 part writeup.

Posted by kancs3118 > 2014-12-15 19:22 | Report Abuse

Sorry Optimuss. I am really sorry for appearing rude/ sarcastic - because i felt kind of angry that the market turn the other way. Now that there is a possibility of asset stripping from GOB, i have just gone crazy.... at the spur of the moment, i have written stupid things that i have promptly deleted.

If this is true...then, this whole thing is just a wayang kulit....

I will never ever buy any shares for the rest of my life~!!

Posted by kancs3118 > 2014-12-15 19:29 | Report Abuse

It is better to know both good news and bad news...rumour can be very revealing sometimes.....
Anyway, i apologise again if i hurt your feelings with the dumb posting i made just now - both of which i have promptly deleted.

I think it is better to have more friends who will show the way - than to have enemies.

I apologise again. Thanks for bring up the possibility of asset stripping. I will definitely be on the look out for such signs....

Posted by optimuss > 2014-12-15 19:30 | Report Abuse

check equine history urself.

Posted by kancs3118 > 2014-12-15 19:58 | Report Abuse

If not mistaken, Patrick's demise is mainly due to the failure of PGCC (Penang GLobal city center) during the last 2x GEs. Thereafter, he sold Equine to the new shareholders - of which the market rumours that Desmond Lim is a substantial shareholder but his name does not appear on records. He maybe holding it via nominees. Equine is then renamed to Global Oriental Berhad as we know now.

But you are right.
Why want to hide behind a veil? Also, it seems there are business transactions between GOB and Malton - things like Malton selling the Sungai Long land to GOB and the contractors for Da'Mein is Domain Resources ( a company owned by Malton). It seems both GOB and Malton is inextricably related and sometimes, one wonders whether the transactions are done at arm's length or tilting in favour of Malton.

I am just afraid if Malton gets into trouble, Malton may "force" GOB to buy assets from Malton at unreasonable prices. Or this may lead to GOB being coerced into swapping its crown jewel, the Batu Kawan land to Malton based on very unfavourable terms to GOB.

Also, it seems Wee Beng Aun (formerly from Malton) is seen as the "director" of GOB whilst the chairman appears more like a figurehead.

I maybe thinking too much now...but these things are playing at the back of my head all this while....just that your previous comments really surface my fears~!

Posted by optimuss > 2014-12-15 20:05 | Report Abuse

wakakaka. sifu appear. the original sifu that shouted buy above 1.00

Posted by optimuss > 2014-12-15 20:18 | Report Abuse

hmm. hmmm...ic ic....ya kah, oh. like that ka...ic ic.

Posted by optimuss > 2014-12-15 20:42 | Report Abuse

dont scold him la, he bought based on your part 1-part 12 bullish report ma.


wakakakak.

Posted by optimuss > 2014-12-15 20:44 | Report Abuse

ok next time i will tell him good stories. he is asking everyday.

Posted by kancs3118 > 2014-12-15 22:40 | Report Abuse

Hi Icon8888, thanks for your feedback. You have been very kind to me. I know that i maybe a pain in the ass...Being new in the share market, i went through your articles (from part 1 to 12) and your postings (as well as James70 posting) about GOB many times and have about 80% of what you said (in the few postings above) covered when applying for GOB's rights issue.


Except for the corporate governance part.
"I spoke to some investment bankers. They ruled out Malton merger with GOB. This is because Desmond is not the only strong shareholders. There are few other strong shareholders. There is check and balance in place. Desmond doesn't really have a free hand to abuse the company."

That is why when Optimuss drop a bomb about the asset stripping, i nearly shit in my pants. But it is better to be thought as a fool than to keep quiet. Sometimes, it is the things that we do not know that kill us.



A few more questions before calling it a night.
I noticed from the Analysis of Shareholdings, about 60% of the shares are at the hands of the retailers. Why this is not a tightly held company? Do you think this will change post rights issue? Whereby the investment banks who underwrite these rights will keep a portion for their own investments? Also, why investment banks will not underwrite a company if they think it is full of shit? I mean do investment banks owe the prospective rights applicants a duty of care? Or it is just a reputation risk to them?

Sorry for asking so many questions.