4 people like this.

27 comment(s). Last comment by Outliar 2020-02-23 17:26

Jaack1

56 posts

Posted by Jaack1 > 2020-02-10 13:07 | Report Abuse

Thank you for sharing

Sslee

5,317 posts

Posted by Sslee > 2020-02-10 13:56 | Report Abuse

Hahahaha 3iii,
Can you also write some shares recommendation within your circle of competence.

Posted by Choivo Capital > 2020-02-10 14:04 | Report Abuse

The only recommendation 3ii will accept is Nestle.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart) > 2020-02-10 14:07 | Report Abuse

:-) I share my honest opinion. Please read the Hengyuan thread and read my posts on Hengyuan's business.

Posted by Choivo Capital > 2020-02-10 14:11 | Report Abuse

Thanks. I think we had this discussion way back then in 2017. Its been awhile. Do you mind sending me copies of your posts.

CharlesT

14,604 posts

Posted by CharlesT > 2020-02-10 14:18 | Report Abuse

Lately most of 3iii high PE low div yield so called FA stock all went holland..

guess u cant depend on good luck forever

Posted by Choivo Capital > 2020-02-10 14:20 | Report Abuse

Dutchlady also died recently.

I can't rmbr the last time i drink dutch lady fresh milk. These days i much prefer yarra milk.

Sslee

5,317 posts

Posted by Sslee > 2020-02-10 14:23 | Report Abuse

Hahahaha 3iii,
If you want to know about HRC you can read my below blog:
https://klse.i3investor.com/blogs/Sslee_blog/2019-07-09-story214178-The_important_of_asking_probing_questions_during_AGM.jsp

Thank you

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart) > 2020-02-10 15:30 | Report Abuse

SSLee

You too was carried away by the shirt term temporary good profits of Hengyuan. What I posted on Hengyuan all those months turned out to be quite accurate.

Do you now agree that your request for more dividends was irrational? I opined the company did not have the free cash to give dividends as its future capex will be significant.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart) > 2020-02-10 15:35 | Report Abuse

>>>>>>

Posted by CharlesT > Feb 10, 2020 2:18 PM | Report Abuse

Lately most of 3iii high PE low div yield so called FA stock all went holland..

guess u cant depend on good luck forever

>>>>>>



Never depend on luck.

My portfolio will be very fine for those with a long term time horizon in their investing.

Short term price fluctuations are expected and do not bother the long term value investor.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart) > 2020-02-10 16:09 | Report Abuse

Oh my goodness, just noticed Hengyuan is now RM 3.39. That is a far cry from RM 45.00, the fair price given by dishonest raider for this stock.

stncws

10,406 posts

Posted by stncws > 2020-02-10 16:12 | Report Abuse

those buys dlady from si fool recommendation will be crying lol !!

Outliar

302 posts

Posted by Outliar > 2020-02-10 17:21 | Report Abuse

Yarra milk is actually Farm Fresh milk repackaged whilst Farm Fresh is still selling the same milk under it's own brand at a slightly higher price. Not entirely sure why.

untong

55 posts

Posted by untong > 2020-02-10 22:47 | Report Abuse

Thanks for sharing.
The 2 main reasons i bought PETRONM was
1) they expand the market share fast
2) they repaid their borrowings fast
The only things are i not sure about are the calculations on valuation, but here we have a good reference hah!

Currently the few concerns are;
1) hedging cost, is it going up in next few years
2) any huge depreciation coming
3)how soon is EURO 6 compliance coming
4) PENGERANG impact ? i am not sure about this
5) commercial jet fuel demand is hit due to coronavirus, how big is the impact

I always like to relate PCHEM with PETRONM as both are oil downstream, i have both in my portfolio, with PCHEM twice bigger size than PETRONM due to its predictability. But i believe if PETRONM can up their retail market share close to 30% it will hit another level of critical mass. Will add more slowly.

stockraider

31,556 posts

Posted by stockraider > 2020-02-11 00:00 | Report Abuse

Actually after carefully studying Petron left, right & center...Raider find that Choivo is right, Petron is indeed very efficient in their operations loh....!!

Petron can be a potential bluechip stock for your portfolio loh...!!

VERY GOOD ARTICLE ON PETRON BY CHOIVO....BUT ONE THING RAIDER FIND VERY HARD TO BELIEVE IS PETRON HAS GAIN MARKET SHARE AT THE EXPENSE OF SHELL & PETDAG REACHING MORE THAN 20% MKT SHARE LOH...!!

BUT IF U GO TO THE PETROL STATION, U FIND SHELL AND PETDAG STATIONS MUCH MORE CROWDED THAN PETRON ANYTIME LOH...!!

SO RAIDER VERY PUZZLE H0W PETRON DID IT LEH ??

NEED MORE DUE DILIGENCE HERE LOH..!!

Icon8888

18,658 posts

Posted by Icon8888 > 2020-02-11 03:22 | Report Abuse

Damn, another long article

(Curse first, read later)

supersaiyan3

3,126 posts

Posted by supersaiyan3 > 2020-02-11 05:46 | Report Abuse

Well written, its perfect.

supersaiyan3

3,126 posts

Posted by supersaiyan3 > 2020-02-11 05:50 | Report Abuse

You will see, HengYuan will be mysteriously affected by its China operation. Petronas renovation had spent so much money to make the shop smaller and the logo black, something i can't comprehend.

Posted by Choivo Capital > 2020-02-11 09:35 | Report Abuse

Untong,

Remember, the refinery is to be honest not worth a damn, most of petronm finished goods are imported to begin with.

If Pengerang comes online, well, petronm can now save money by buying direct from Pengerang, not a bad thing.

Posted by Choivo Capital > 2020-02-11 09:37 | Report Abuse

Stockraider,

Hmm, it interesting that you feel that petronm stations are usually empty. I don't feel that way to be honest from my experience at their stations, though it may be just because i hold their shares. haha.

having said that, their petrol equipment is definitely a step below those of Petronas and Shell.

Whether this is a good or bad kind of cost saving, i have no idea.

Posted by George Leong > 2020-02-12 22:20 | Report Abuse

Thanks for sharing this article.

gohku

373 posts

Posted by gohku > 2020-02-12 23:20 | Report Abuse

This situation is unlikely.
The purchase pecking order for petron is to buy from its own refinery first then import from petron oversea parent and the last consideration are sourcing from third party refinery like petronas, hengyuan, singapore petroleum and petrol china.

Petron own local refinery due to being old can only supply 50% to 60% of its overall marketing needs thus the company need to import from the parents for its balance requirement.


Posted by Choivo Capital > Feb 11, 2020 9:35 AM | Report Abuse

Untong,

Remember, the refinery is to be honest not worth a damn, most of petronm finished goods are imported to begin with.

If Pengerang comes online, well, petronm can now save money by buying direct from Pengerang, not a bad thing.

TakeProfits

1,229 posts

Posted by TakeProfits > 2020-02-14 17:11 | Report Abuse

Walau, thanks Choivo, I got lost in your above thesis! Hmmm....Hopefully Petron has bottomed out...

Outliar

302 posts

Posted by Outliar > 2020-02-23 17:26 | Report Abuse

New Petrol Station named ‘Five’ will begin operating in March

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