Posted by auditorandconsultant > 2021-06-04 20:22 | Report Abuse

Initially, my gang and I planned to go for concentrated investment into MBSB due to the reason below. Very unfortunate matter was that the Syndicates did not press the price of Mother Shares to RM0.55 to ensure 100% losses incurred by Call Warrant Holder this round as compared to last round on 29 Jan 2021. Probably, the Syndicates purposely did not want to press down further because they knew my gang and I were waiting to collect the cheapest MBSB mother share on one (1) trading day before and after 25 May 2021. So next time, my gang and I will be silent and waiting for other better counters since Syndicates already identified my existence.

There is always a reason on why I keep waiting for MBSB to plummet to RM0.55 and below. I was using (1) Call Warrant Exercise Price; (2) Intrinsic Value and Price for Margin of Safety; and (3) Historical performances of MBSB from year 2014 to year 2020 from FCF per share, Net Cash per share and Net Income.

Historical event where my basis of assumption was CORRECT:-
MBSB C31; Expiry date on 29 Jan 2021; Issuer is CIMB; Exercise Price RM0.60; Exercise Ratio 1:1
Formula to calculate the arbitrage gain or price gap for the conversion of call warrant to mother shares:-
= (Price at Expiry Date - Exercise Price) / Exercise Ratio LESS Average Cost of Call Warrant
= (o.595 – 0.600)/1 LESS 0.040
= Maximum loss of 0.040 per call warrant

My Experience:-

My experience when I was working as a consultant to Syndicates and Fund Managers from BVI and Cayman Island told me that there is always a tendency that Syndicates (I could not mention the name or else I will be sued) will purposely throw the mother shares so that the mother share price will plummet. Then, warant holder who aims to convert the call warrant to mother share before the expiry will not be able to make profit from the price gap or what it is normally known as an "arbitrage". The issuer will be the big beneficiary if the price of mother share plummets. I had attempted some counters using this way so I always use the same way whenever I wanted to purchase mother share of MBSB. My recent experience was when I bought MBSB at end of January 2021, i.e. 1 day before and 1 day after 29 January 2021 so as to maximise my return on investment later when I could actually buy MBSB at the lowest point possible using the expiry date of Call Warrant as a benchmark. I experienced this good entry point in Jan 2021 and as such, during 1 week before and after 25 May 2021, I tried to ask everyone to wait for the price of MBSB to drop to RM0.55 assuming that the Syndicates would again press the mother share price to RM0.55.

Experience for MBSB C-32:-

MBSB C32; Expiry date on 25 May 2021; Issuer is AMBANK; Exercise Price RM0.55; Exercise Ratio 2:1

For this round, the Syndicate did not press down aggressively the price of the mother share to RM0.55 which was the exercise price. As such, warrant holder only lost a bit.

Possible hint: Look at the issuer.
I could not tell who the syndicates are and you people is smart to relate the parties such as WA Holder, Syndicates and Issuer of WA.
What is the fact about Ambank? Ambank incurred lot of costs and compensation due to 1MDB case.
Hint for next game by relating your investment decision to MBSB C-34:-

Please refer to my excel spread sheet.I will provide upon request.

Another reason on why I think the current price of MBSB is still expensive to me:-

Intrinsic Value as of early of April 2021 = RM0.72

Price for Margin of Safety (PMOS) = RM0.54 (still my desired price was RM0.55, please refer to my conversation between myself and icepumpkin and yippy68 from my excel spread sheet which I will provide upon request)

Net Cash per share (in cent) from year 2014 (-51.19), 2015 (-65.16), 2016 (46.45), 2017 (-51.85), 2018 (-172.87), 2019 (-229.93) and 2020 (-202)

Free Cash flow per share (in cent) from year 2014 (12.85), 2015 (13.51), 2016 (13.71), 2017 (14.80), 2018 (6.30), 2019 (11.84), 2020 (-20.96)

Net Income from year 2014 (1,015 mio), 2015 (258 mio), 2016 (201 mio), 2017 (417 mio), 2018 (642 mio), 2019 (717 mio) and 2020 (270 mio).

For those who would like to request for my excel spread sheet, please let me know. I send to you via KLSE i3 messenger upon request.

Thank you. My intention is to enable everyone to maximise the return by waiting for the lowest possible price which is the PMOS, a concept founded by Benjamin Graham.

Well, perhaps, my basis of assumption did not work successfully for this MBSB C-32, My intention is to maximise return and at the same time follow Value Investment and Fundamental Analysis.

Disclaimer: This is only a sharing of my idea and basis of assumption. Not an advice to you to decide BUY or SELL. Remember, Buy or Sell at your own discretion and own risk!

Posted by auditorandconsultant > 2021-06-04 20:23 | Report Abuse

Please let me know if you would like to have my excel spreadsheet which i could share via i3 messenger.

Posted by auditorandconsultant > 2021-06-04 20:34 | Report Abuse

I had already shared to some of you my analysis and hopefully my message could be conveyed to you effectively to avoid future misunderstanding

Posted by E K > 2021-06-04 20:50 | Report Abuse

Auditorandconsultant,TQVM! Beside MBSB, any other counter I could share?

Posted by auditorandconsultant > 2021-06-04 20:59 | Report Abuse

@E K

At this juncture, I am observing and waiting for other good counter.

For the benefit of myself and my group of comrades,

I could only tell you to focus more on Consumers Good Industries and for Bank, I shall wait and see because of many uncertainties due to government policy and covid

Posted by E K > 2021-06-05 10:57 | Report Abuse

Agreed

Posted by E K > 2021-06-05 10:58 | Report Abuse

How about OCK?

Posted by auditorandconsultant > 2021-06-05 11:34 | Report Abuse

EK

To be honest, I have not done any homework on OCK

Haha I will see if I could try to study

Now rushing reporting deadline working from home. Still have lot of audited reports to rush even though there is an extension of filing time set by SSM but I am still waiting for news about LHDN Extension

If anyone knows, please let me know

Posted by oppstar > 2021-06-06 14:27 | Report Abuse

auditor and consultant Ek,
Thank for opinion,
please share your excel spreadsheet to me .Thanks
oppstartechnology8@gmail.com

Posted by auditorandconsultant > 2021-06-06 23:50 | Report Abuse

@oppstar,

Please check your i3 messenger. Sent there already

Posted by davejl > 2021-06-07 05:32 | Report Abuse

@auditor consultant, can send me your Excel file? thanks

Posted by auditorandconsultant > 2021-06-07 12:18 | Report Abuse

@daveji

Sent to your i3 messenger......

Posted by auditorandconsultant > 2021-06-07 12:20 | Report Abuse

Hi all, I gonna be away for many days already because need to meet tight reporting deadlines.

FYI, I am a full time auditors and freelance consultant. Busy day and night. Hahaha

Even today I am working still from home...

Take good care..... I will be back after rushing and finishing all my works.

Posted by auditorandconsultant > 2021-06-07 12:27 | Report Abuse

PATIENCE is the key. Let's wait for better price and opportunity! Let's learn from Charlie Munger

“The world is full of foolish gamblers and they will not do as well as the patient investors.” Charlie Munger

"I think the record shows the advantage of a peculiar mind-set - not seeking action for its own sake, but instead combining extreme patience with extreme decisiveness." Charlie Munger

"The big money is not in the buying and selling … but in the waiting.” Charlie Munger

Posted by poseidon80 > 2021-06-07 19:58 | Report Abuse

This stock worth more than rm1

Posted by Yippy68 > 2021-06-08 11:13 | Report Abuse

@auditor , 0.585 also consider very high, only 0,50 is fair to buy. hahahahaha you make my cock laugh. .listen to you si liau.

Posted by kl_guy > 2021-06-08 11:49 | Report Abuse

now mbsb 0.65

Posted by poseidon80 > 2021-06-08 11:50 | Report Abuse

Break out soon… yeah!!!!

Posted by Vikash36 > 2021-06-08 13:07 | Report Abuse

Agree that the share value (0.65) is below the market value. The price will go up and it is just matter of time.

Posted by Loy Loy Cheong > 2021-06-08 13:12 | Report Abuse

Based on fundamentals and it's current earnings, the fair value is about 80sen to me, however as economy improves and covid situation under control and life normalized, the share could go back to RM1 level. If you can hold for long term when they are a full fledged Islamic Bank, the share could be RM2.50 and above. Hold on and do not be too short sighted on profits.

Posted by kl_guy > 2021-06-08 13:46 | Report Abuse

MBSB is on uptrend from 63sen now 65sen. RSI on uptrend
Target75sen soon.

Posted by michaeltks > 2021-06-08 13:49 | Report Abuse

MBSB may be poised for technical rebound, says RHB Retail Research

Posted by cm78my > 2021-06-08 15:27 | Report Abuse

kwsp untung gaogao。。haha

Posted by RainT > 2021-06-08 19:23 | Report Abuse

it already how long already since long time ago until today still fail to go up above 1.00

Posted by fusing79 > 2021-06-08 22:03 | Report Abuse

MBSB: Seal chilled water supply agreement. Malaysia Building Society (MBSB) has entered into a chilled water supply agreement with PJ Sentral DCS SB for the supply of chilled water to an office building located at Petaling Jaya for a period of 20 years from Dec 1, 2020, at an estimated total consideration of up to RM73.41m. (Bernama)

Posted by fusing79 > 2021-06-08 22:04 | Report Abuse

MBSM not only providing bank service? they also sell chilled water?

Posted by poseidon80 > 2021-06-09 20:05 | Report Abuse

Rebound happening soon… short term rm0.800
Will go above rm1

Posted by RJ87 > 2021-06-10 11:12 | Report Abuse

Now, what do i3 readers owe you for such "exclusive" information?

Ok ok...maybe give u some credit that you a kuching miao trying to be tiger. Good try.

If you are really that "experienced", then you should know by now that there is not such thing as win win...What's stock is about is bet against market and be right. And broadcast here in i3 isn't exactly doing that. And what makes you think you are right?

P.S. Talk from hindsight is 20/20. Parrot can do better job than you do. =D
P.P.S. And please throw the saying that "If you starting to get haters, you must be doing something right" out the window. Kucing miao trying to tiger is hilarious. Not right.
--------------------------------------------------------------------------------

auditorandconsultant Initially, my gang and I planned to go for concentrated investment into MBSB due to the reason below. Very unfortunate matter was that the Syndicates did not press the price of Mother Shares to RM0.55 to ensure 100% losses incurred by Call Warrant Holder this round as compared to last round on 29 Jan 2021. Probably, the Syndicates purposely did not want to press down further because they knew my gang and I were waiting to collect the cheapest MBSB mother share on one (1) trading day before and after 25 May 2021. So next time, my gang and I will be silent and waiting for other better counters since Syndicates already identified my existence.

There is always a reason on why I keep waiting for MBSB to plummet to RM0.55 and below. I was using (1) Call Warrant Exercise Price; (2) Intrinsic Value and Price for Margin of Safety; and (3) Historical performances of MBSB from year 2014 to year 2020 from FCF per share, Net Cash per share and Net Income.

Historical event where my basis of assumption was CORRECT:-
MBSB C31; Expiry date on 29 Jan 2021; Issuer is CIMB; Exercise Price RM0.60; Exercise Ratio 1:1
Formula to calculate the arbitrage gain or price gap for the conversion of call warrant to mother shares:-
= (Price at Expiry Date - Exercise Price) / Exercise Ratio LESS Average Cost of Call Warrant
= (o.595 – 0.600)/1 LESS 0.040
= Maximum loss of 0.040 per call warrant

My Experience:-

My experience when I was working as a consultant to Syndicates and Fund Managers from BVI and Cayman Island told me that there is always a tendency that Syndicates (I could not mention the name or else I will be sued) will purposely throw the mother shares so that the mother share price will plummet. Then, warant holder who aims to convert the call warrant to mother share before the expiry will not be able to make profit from the price gap or what it is normally known as an "arbitrage". The issuer will be the big beneficiary if the price of mother share plummets. I had attempted some counters using this way so I always use the same way whenever I wanted to purchase mother share of MBSB. My recent experience was when I bought MBSB at end of January 2021, i.e. 1 day before and 1 day after 29 January 2021 so as to maximise my return on investment later when I could actually buy MBSB at the lowest point possible using the expiry date of Call Warrant as a benchmark. I experienced this good entry point in Jan 2021 and as such, during 1 week before and after 25 May 2021, I tried to ask everyone to wait for the price of MBSB to drop to RM0.55 assuming that the Syndicates would again press the mother share price to RM0.55.

Experience for MBSB C-32:-

MBSB C32; Expiry date on 25 May 2021; Issuer is AMBANK; Exercise Price RM0.55; Exercise Ratio 2:1

For this round, the Syndicate did not press down aggressively the price of the mother share to RM0.55 which was the exercise price. As such, warrant holder only lost a bit.

Possible hint: Look at the issuer.
I could not tell who the syndicates are and you people is smart to relate the parties such as WA Holder, Syndicates and Issuer of WA.
What is the fact about Ambank? Ambank incurred lot of costs and compensation due to 1MDB case.
Hint for next game by relating your investment decision to MBSB C-34:-

Please refer to my excel spread sheet.I will provide upon request.

Another reason on why I think the current price of MBSB is still expensive to me:-

Intrinsic Value as of early of April 2021 = RM0.72

Price for Margin of Safety (PMOS) = RM0.54 (still my desired price was RM0.55, please refer to my conversation between myself and icepumpkin and yippy68 from my excel spread sheet which I will provide upon request)

Net Cash per share (in cent) from year 2014 (-51.19), 2015 (-65.16), 2016 (46.45), 2017 (-51.85), 2018 (-172.87), 2019 (-229.93) and 2020 (-202)

Free Cash flow per share (in cent) from year 2014 (12.85), 2015 (13.51), 2016 (13.71), 2017 (14.80), 2018 (6.30), 2019 (11.84), 2020 (-20.96)

Net Income from year 2014 (1,015 mio), 2015 (258 mio), 2016 (201 mio), 2017 (417 mio), 2018 (642 mio), 2019 (717 mio) and 2020 (270 mio).

Posted by lloydlim > 2021-06-10 16:29 | Report Abuse

Time to accumulate!

Posted by Loy Loy Cheong > 2021-06-15 09:36 | Report Abuse

MBSB Management should sack themselves for the shares poor performance.

Posted by Loy Loy Cheong > 2021-06-15 09:47 | Report Abuse

A brunch of useless Management that know how to do nothing to enhance investors investment but paying themselves handsomely. Useless...

Posted by Allenlee > 2021-06-15 21:09 | Report Abuse

Why said so ? Brother

Posted by Loy Loy Cheong > 2021-06-16 00:38 | Report Abuse

Just look at DRP, putting money in their own pocket instead of paying back to investors which has been holding the shares for 1 bad year.

Posted by Loy Loy Cheong > 2021-06-16 09:05 | Report Abuse

Banks and financials are all up the last few days and yet MBSB struggling and cannot even maintain even.

Posted by Lesliecky > 2021-06-16 12:13 | Report Abuse

DRP - i have the same tot at the beginning, but is merit to shareholder to subscribe at lower price and potentially resale at higher price in open market. Let me know if that is unfavour for shareholder like us.

Posted by Loy Loy Cheong > 2021-06-16 12:25 | Report Abuse

Nobody can guarantee the price will go up after DRP, and btw DRP can come in the form of selling you at 2sens lower or giving you shares equivalent to your dividend, if they choose to do it by issuing new subscriptions at a discount price, the current price is already at 50% discount so how are they going to price it? Unlike maybank, their price is high and a few ten's discount is substantial for investors to buy into their new shares issues. I hope I am wrong, but market is obviously not reacting to it favourably till now. MBSB has got to come out and do something to stabilise their shares. I rather they do share buy back is better.

Posted by Lesliecky > 2021-06-16 12:40 | Report Abuse

thanks, partly agreed. That is for surely that market do not react well and the share price trend low over months.

Posted by Loy Loy Cheong > 2021-06-16 15:43 | Report Abuse

The allotment to individual investor will be 10% of your holding shares at a discount of not more than 10% based on the average last 5 days closing price before the AGM? Is that correct? Appreciate anyone advise.

Posted by Loy Loy Cheong > 2021-06-16 15:54 | Report Abuse

Got the picture now, the price was kept low deliberately for the DRP allotment shares. Will it return to mid or high 60+sen level after the DRP allotment confirmation?

Posted by Loy Loy Cheong > 2021-06-16 15:56 | Report Abuse

If I am right, tomorrow is the AGM, price will rebound.

Posted by remomama94 > 2021-06-17 18:11 | Report Abuse

dividend @ RM0.02 or DRP @0.56 share

Posted by Loy Loy Cheong > 2021-06-17 19:12 | Report Abuse

The 2sen dividend is not meaningful. Shares are priced at 0.61 (based on 0.63 with 2 sen dividend) and new listing at 0.56 which is about 8% discount from base price. Allotment is 10% if I am not wrong....so if you have 1M shares, you will be allow to subscribe to 100k shares@0.56...
Think the price will be play up the coming 2 weeks.

Posted by Loy Loy Cheong > 2021-06-17 19:14 | Report Abuse

Can this attract institutional investors is yet to be seen

Posted by Davidl > 2021-06-17 19:27 | Report Abuse

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E9%A9%AC%E5%BB%BA%E5%B1%8B%E6%94%BE%E7%9C%BC%E8%B4%B7%E6%AC%BE%E5%92%8C%E8%90%A5%E6%94%B6%E5%A2%9E%E9%95%BF3

Posted by Yippy68 > 2021-06-18 01:41 | Report Abuse

@Loy, please clarify, are we entitled to purchase 10% of what we owned at 56 sen per share, or, only allow to use the dividen to buy the share at 56 sen per share. eg, if you have 1M share. either you can buy 100k share at 0.56 or use the dividend of RM 20,000 to buy 35.714k at 0.56. Thank you sir.

Posted by MichelleNg > 2021-06-18 06:04 | Report Abuse

Not good for retailers....as more and more shares but share price going south. They don't want retailers to survive. From above rm1 to 60cents capital loss huge with DRP

Posted by slts > 2021-06-18 08:58 | Report Abuse

Loy, i think DRP means u can either choose your dividends in CASH or
equivalent in new shares .
eg if u hold 100,000 shares,
Cash dividends = 100, 000 x 0.02 = 2,000
or Share dividends = 2,000/0.56 = 3,571 new shares (no need to make payment, they will use
your entitlement as payment for the new shares at 0.56/share

Posted by slts > 2021-06-18 09:04 | Report Abuse

and if you ignore the "election reinvestment form" , it is assume that u choose to receive ur
dividends in CASH

Posted by Yippy68 > 2021-06-18 09:05 | Report Abuse

thank you @loy, i really hate the DRP exercise. most of you are right, this is a hopeless counter. after waited for one year, they give you share to hold back your cash if you subscribed. it may drop to 56 sen as some retailer will profit taking even one or two sen. only my 2 cents.

Posted by slts > 2021-06-18 09:07 | Report Abuse

...... "dividend reinvestment form".....