Posted by popo92 > 2020-05-13 22:00 | Report Abuse

DK66 sifu, thank you for your selfless sharing. That is very shrewd of you taking arbitrage between market price vs your valuation. For Harrison, TWS and Magnum did you started buying after you believe the offer valuation isn't fair and undervalue? That is very brave and shrewd actions that i wouldn't ever think to fight against. My own preference would be finding great if not wonderful business and wait more golden eggs to hatch as i am not very good to patiently wait for better price entry. I admire your boldness decisions and your thoroughly analysis that turns odd in your favour. I hope your investment on jaks turn out a fruitful one very soon.

Posted by DK66 > May 12, 2020 6:05 PM | Report Abuse


I started serious investing after the 2008 crisis. First I bought Harrison when it received a takeover offer of 1.25. One american aggressively bought 10% on the news. I knew it was too low so I bought at 1.20 and later sold at 4.

Then, I bought TWS at RM3 when MSM was taken from Robert Kuok. I knew the sugar price is going to rise. TWS has one of the only 2 sugar licences in Msia. TWS was later taken private at RM9.30.

About the same time I also bought Magnum when it was trying to relist its 4d business taken private few year ago. The relisting entailed CVC taking a stake in Magnum in exchange for its stake in the 4d business. Portion of the stakes must be place out to certain parties at the same price. Valuation of Magnum was kept at 8x PE, a low valuation to benefit certain parties. So, I bought at about RM2.20 and sold at RM4.10 before the listing of MPHB cap.

Then, I bought Dayang before the oil crisis at 1.40 but forced to cut off when the price fell back from RM4 to my cost.

Then, I bought Triplc on Jay's article. I went in at 1.50 and got back 1.95 thru distribution, and now waiting for the balance 1.00.

Posted by DK66 > 2020-05-13 23:02 | Report Abuse

popo92, you are welcome and thanks for the compliments.

You are right, it is not easy to carry out thorough studies without accounting and financial knowledge. You need to know the regulations on merger and acquisitions. Otherwise, you will not be able to engage with confidence. Any mistake could cost you dearly. You also need to be able to see through the deal to gauge the opportunity.

This is the same to jaks. I have to get it right with my earnings forecast for JHDP. With the relative valuation provided by Vinh Tan 1. I have more confidence than ever to hold til revelation. In fact, I have done further analysis on Vinh Tan 1's results and found that there is further upside to its earnings. However, I do not want to complicate the matter further. The relative valuation I have done is good enough for now.

Thank you.