Posted by Flintstones > 2016-11-04 09:09 | Report Abuse

Thank you for sharing. Gadang has a great construction arm, no doubt about it. But the problem with this company has always been its property arm with low unbilled sales. 50% of Gadang net profit comes from its property arm. With no significant property sales insight, Gadang profit is still gonna go down with MRT or no MRT.

Posted by cresbinvest > 2016-11-04 09:15 | Report Abuse

Thanks for sharing!

Posted by kl foong > 2016-11-04 09:25 | Report Abuse

SJSoon, TQ for sharing.

Posted by tksw > 2016-11-04 09:41 | Report Abuse

TQ SJSOON sifu

Posted by aidwiz > 2016-11-04 09:47 | Report Abuse

sjsoon, thank you man.

Posted by Lyo82 > 2016-11-04 09:52 | Report Abuse

A nice one.TQ.

Posted by SJSOON > 2016-11-04 09:58 | Report Abuse

Hi, Ricky Kiat. Yes I am in Singapore now. But I am not as Lansi as the Singaporean Calvin Tan.

Posted by SJSOON > 2016-11-04 10:00 | Report Abuse

@hpcp: Kok Onn sold his direct shares in attempt to get ESOS at cheaper price. He forget he is the MD of the company and doing so it may lead to begative speculation that the company is not doing well. Furthermore, his disposal took place just a few days before the "poor" quarterly report was released. Shall we penalize him? Of course, We MUST!

Posted by SJSOON > 2016-11-04 10:01 | Report Abuse

@moneysifu: I have taken a lot of pictures. But it is tedious to post in i3investors. I will do it once I am free today.

Posted by SJSOON > 2016-11-04 10:02 | Report Abuse

I also got recorded KYY lecturing Kok Onn how to "cook" the financiak report. LOL.

Posted by kongxkong > 2016-11-04 10:04 | Report Abuse

haha..thanks for the update and sharing

Posted by GaRRYtan > 2016-11-04 10:10 | Report Abuse

Wat i heard is 100millin from power plant. so is 10 or 100mil?

Posted by mamatede > 2016-11-04 10:14 | Report Abuse

I think Kok Onn movement is pretty unfair, knowing the fact that he know the results before it is release and sell some of his shares to capitalize on it. I hope somebody will report his action to SC and penalize him.

Posted by xuewen > 2016-11-04 10:16 | Report Abuse

good job, SJsoon

Posted by xuewen > 2016-11-04 10:18 | Report Abuse

SJSoon, your title scare die me , next time do not play with the title

Posted by hpcp > 2016-11-04 10:25 | Report Abuse

Thanks SJSOON, you have a point

Posted by news > 2016-11-04 10:39 | Report Abuse

I don't trust the management especially with Kok Onn who sold all his direct holding of Gadang before the bad result was published, no matter what lame excuses he gave for his action. This has tarnished my impression of Gadang management. I have sold off my stocks in Gadang. Better to invest my money in a company with a more trust worthy management.

Posted by tksw > 2016-11-04 10:41 | Report Abuse

news sifu, you veli pai-si sold your shares to me so expensive, next time dun do that ahh

Posted by news > 2016-11-04 10:46 | Report Abuse

Hahaha! Don't worry tksw sifu, there will be no next time. I was hoping at the beginning of the year to keep Gadang for a much longer term. But, now changed my mind.

Posted by Ricky Kiat > 2016-11-04 10:49 | Report Abuse

whatever calvin tan say, time will tell how gadang capital city project perform. dumb dumb hold...cheers..

Posted by RUOutOfUrMind > 2016-11-04 10:51 | Report Abuse

See, this joker KYY only think how to beautify the things & hope all can see good things only, without letting others know the negatives. Very dishonest old man.

(1) Koon Yew Yin taught Kok Onn and Boey Tak Khong how to technically smooth the earnings projection from quarter to quarter in order to benefit shareholders such that the earnings will be seens growing persistently rather than bumpy and hence terrifies all shareholders. The recent 40 cents gap down is an example. I think Koon cannot sleep well so he bombarded the Board with this concern.

SJSOON I also got recorded KYY lecturing Kok Onn how to "cook" the financiak report. LOL.
04/11/2016 10:02

Posted by woodstock > 2016-11-04 10:57 | Report Abuse

Don't worry, our beloved PM business trip to China was a big success. There will be a lot of rich China businessmen to snap up the property in Malaysia with cash. You help me, I help you lol.

Posted by Stockwatch > 2016-11-04 11:10 | Report Abuse

Hi SJSoon, Good recap.
Were you the one wearing blue asking the questions?I certainly agree you presented yourself well as a young investor.I thought Miss Kok should clarify the questions raised by minorities rather than the independent director which is against protocol....I do admit there is an aha moment when you mentioned she is adorable....good taste.:):)

I do agree it was done in bad faith for him to sell his shares earlier for his pocket money as he has has First Insight.

Their industry ie. property development and infrastructure is cyclical ie. periods of troughs and highs due to the nature of the billings and it would be against the norm "to hide" the profits as suggested by The Special One.With the new accounting treatments in place to be inline with global best practices there is hardly any room for deviations.

I am not agreeable with the idea that independent directors are granted ESOS as highlighted by one minority speaker as it is not a best practice and not adopted in the United States and I voted against it.As you can see the independent director Mr. Boey acted as if he is a shareholder when fielding the questions.

Finally the door gift..wonder how a lady shareholder will react to a DIY toolkit?

You should be there the previous day at the Sime Darby AGM...with high gearing etc.and questions posed by MWG..the CEO was jittery and rambling on without much focus.Compare the quality of questions posed at the Sime Darby AGM and Gadang...this was pretty high standard and I was quite surprised.At least there was no singing!

Posted by stephenhawking > 2016-11-04 11:13 | Report Abuse

Good sharing

Posted by SALAM > 2016-11-04 11:14 | Report Abuse

Big thank you to SJSoon for the detailed report.. the fact and iron fact is Minority are always at the mercy of Major shareholders - . However, The advantage is we can fly in grace high and freely in the sky like an eagle, stalking for the next target. No need to stick to Gdg.

Posted by Ezra_Investor > 2016-11-04 12:22 | Report Abuse

Not to add salt to the injury, but no matter how good a stock is, if you feel like the management is not honest and trustworthy, then you can pretty much discount it.

As my teacher Warren Buffett would say: "Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. ... If you hire somebody without [integrity], you really want them to be dumb and lazy."

Buying a company's share is like doing business as a partnership, if your partner in business cannot be trusted, then it's only matter of time before he will stab you one day in your business.

Posted by lkoky > 2016-11-04 12:59 | Report Abuse

tq SJSOON

Posted by Viie > 2016-11-04 13:18 | Report Abuse

The youngest investor?? :)

Posted by Earth > 2016-11-04 14:03 | Report Abuse

哇！ 你们都得到心里所要的答案。 这叫自我安慰。

Posted by GoldenEggs > 2016-11-04 14:14 | Report Abuse

Tbh, gadang shareholders are comforting themselves only.....see the amount of orderbook.....

Posted by SJSOON > 2016-11-04 16:47 | Report Abuse

Yes. The youngest among you guys.

Posted by Viie > 2016-11-04 16:51 | Report Abuse

May i ask how old r you??

Posted by greatful > 2016-11-04 18:25 | Report Abuse

gadang lagi, tak ada lain ke?
gadang gkent saja. buat semua buta ekori beli. gila.

Posted by leehualoon > 2016-11-04 19:41 | Report Abuse

SJSoon, not sure if u heard tio on what Mr. Boey say on the bad result. If my memory serve me right, Mr. Boey mentioned "Our board are quite confident that FY17 would be BETTER than FY16".

On the contrary, the same day on TheEdge, Ms. Kok mentioned that "For FY17, we are still positive in terms of our financials....HOPEFULLY WE CAN RETAIN last year’s performance and hopefully do better..."

Posted by stockistlearner > 2016-11-04 20:00 | Report Abuse

Thanks SJSoon for such comprehensive update!

Posted by stockistlearner > 2016-11-04 20:09 | Report Abuse

Any announcement on the ex-date?

Posted by saydon > 2016-11-05 02:33 | Report Abuse

Bravo, SjSoon

Posted by sosfinance > 2016-11-05 10:42 | Report Abuse

Thanks for sharing. On the issue of Kok Onn selling 5.5m shares prior to the lower quarterly result, some may think it is unethical. However, we must look at the past few years trend as well and ask, why did he sell around 25sen in 2010? He also bought and sold during 2010 to 2016, some are bought at RM2.10, some are sold at RM1.77 earlier. From a bigger picture perspective (his indirect holdings is maintained and increased over the years), can you say he is unethical? Why didn't he sell it at RM3.30 instead of 25 sen? Did he know something more? Yes, of course, he knew more than the outside investors, if he knew 6 years down the road from 2010 that the share price will go up from 25 sen to 290 sen, I would say he is not very smart isn't it. Let's say, another 6 years down the road, he did his utmost best for the company, and the share price did goes up say to RM10.00, do we think what he did for selling 5.5m shares unethical? I am looking at the issue, not the person. Do you think he is more ethical if he sell after the qtr? Debatable isn't it?

Posted by Blink22 > 2016-11-05 10:56 | Report Abuse

anybody knows what is the close period rule says.?

Posted by apini > 2016-11-05 11:43 | Report Abuse

well said sosfinance, I agree with you
there is nothing wrong or unethical for a director to sell any extra portion of his share. why he can not sell if he needs money for some personal commitment. moreover the company he is managing is doing well , profit improving years after year.

Posted by apini > 2016-11-05 11:50 | Report Abuse

if you want to find fault, there is always a way

Posted by apini > 2016-11-05 12:20 | Report Abuse

after Kok Onn sold his share at around 2.90, the price went up to 3.30
what is the problem ?
why you did not follow him to sell your shares if you feel that uncomfortable ?

if you trust you own calculation , believe that gadang is still a good company to invest in, then would you panic sell just because of a bad quarter result but the overall is till looking good .

now you panic and have already sold all your shares and made a loss or no gain , then who blame?

I never worry about Gadang order book running out of works
this is nothing new to me since 2014
every year there are people warning us regarding this matter and every year there is enough works to keep the company busy for the next one or two years.

Moreover gadang is well diversified into property with carries better profit margin than construction sector and building stronger and stronger recurring income from utility and plantation

so I am still keeping a big portion of gadang for next year and liquidate a small portion at my first TP of 3.00

Posted by SJSOON > 2016-11-05 13:54 | Report Abuse

Kok Onn as an insider, he does not have an absolute freedom and buy and sell the shares. Somemore, the timing is sensitive though I agree he can have his own financial planning. This is nothing related to whether I worry Gadang's propespect nor I do not have faith in Gadang. If you were any analyst in investment bank, you will have a fridge period to trade the shares that you are studying about. This applies to Kok Onn as well. 2.1% direct shareholding disposal, it is significant.

Posted by SJSOON > 2016-11-05 14:00 | Report Abuse

Last time I questioned about the pricate placemet. why did the board not to conduct pp when the price was higher last year? Don't you tell me that they could not foresee the cash flow projection in half a year time. They should always suggest proposal or report earnings in a right time. Just as if what Koon lectured Kok Onn about the profit report. In fact,thw board has ability to foresee what will happen. They cannot say they know nothing and let the condition decides.

Posted by SJSOON > 2016-11-05 14:08 | Report Abuse

I have no issue about the management's credibility. yet, sometimes the management is silly.

Posted by SJSOON > 2016-11-05 14:09 | Report Abuse

This is just a write-up done by a 24 year old guy. if I wrote sth wrong, please correct me.

Posted by setia2u > 2016-11-05 21:25 | Report Abuse

Mr. Cold Eye mentioned in his new book launching today that he has sold his holding @ RM3.00

Posted by shortinvestor77 > 2016-11-05 22:07 | Report Abuse

SELL call.

Posted by pussycats > 2016-11-05 23:26 | Report Abuse

Posted by setia2u > Nov 5, 2016 09:25 PM | Report Abuse

Mr. Cold Eye mentioned in his new book launching today that he has sold his holding @ RM3.00
. -. -. - - -.......----..-.-
Pussycat: Obviously a sell call by coldeye.

Posted by PlsGiveBonus > 2016-11-06 02:06 | Report Abuse

Very cold person told a cold joke