Posted by ayeefk > 2013-12-19 12:46 | Report Abuse

Hi, Anbz,

Do not be upset. You should be happy that you are now a leader in your own right, not a follower.

Posted by smalltimer > 2013-12-19 16:17 | Report Abuse

Only 3 yrs profit? Wanna payout, wanna div?let kkp proof me wrong.

Posted by Bull13 > 2013-12-19 16:27 | Report Abuse

Another round of selling coming... Next stop....>>>>>the Twilight Zone..!! >>>>18s

Posted by davidkkw79 > 2013-12-19 16:35 | Report Abuse

anbz, please don't spoil the name of Kcchong.

He didn't ask you to let him be your sifu... is just yourself ask for it.

If the person is good enough to be a sifu or master, no need to force people to call him sifu, people will just eventually found out his good and follow him.

btw, congratulate you have made money on PW. You pay your hardwork and now you enjoy your victory fruit.

Posted by davidkkw79 > 2013-12-19 16:41 | Report Abuse

anbz, before you are looking for a person to be your sifu.

What are you expected he to teach you ? Just wait for his instructions to buy in or sell ?

A person you think he can be your sifu should be something like you want to learn something from him right? learn how he think, learn how him judging all the risks and chances.

Posted by kcchongnz > 2013-12-19 17:04 | Report Abuse

Posted by kcchongnz > Dec 19, 2013 04:56 PM | Report Abuse X

Posted by anbz > Dec 19, 2013 12:16 PM | Report Abuse

haha PW is up again...i'm really upset when kcchong commented on pmcorp and PW...he misused the trust people put in him...that's what i think..whatever he said..really disappointing..

I DON'T GIVE A DAMN IF PW CORP SHARE PRICE IS UP OR NOT. I DON'T GIVE A DAMN IF YOU ARE DISAPPOINTED WITH ME OR NOT. BUT PLEASE CLARIFY HOW DID I MISUSED THE TRUST PEOPLE PUT ON ME.

i thought he is a person with knowledge...and honesty...someone u can hope to be a friend...

NO, YOU DON'T HOPE FOR ME TO BE YOUR FRIEND. WE HAVE TOTALLY DIFFERENT WAVELENGTH AS YOU KNOW.

SO YOU IMPLY I AM DISHONEST? PLEASE SUBSTANTIATE.


what can i say? and that time i was expecting him to say something good about PW..with his knowledge.....someone to rely on......

FOR ME THERE IS NOTHING GOOD TO TALK ABOUT PW CORP. I WOULD GIVE MY DETAIL SUBSTANTIATIONS IN DUE COURSE.

and he's talking about graham net??? but he refuse to use the method on PW..

PW CORP CAN'T SMELL THE FART OF GRAHAM NET NET.

and degraded PW...and talked about neglecting historical profit..while he always did that when promoting his stock....

I WILL LOOK INTO PW CORP AGAIN AND SEE ITS "HISTORICAL PROFIT" IS THERE AND WILL WRITE ABOUT IT. I DON'T REMEMBER SEEING THAT.


haha..this is life...no offence kcchong..u are still the sifu...but not mine..anymore..because i need a honest sifu...sigh

ME YOUR SIFU? DO I NEED A STUDENT LIKE YOU? HOWEVER I STILL NEED YOUR SUBSTANTIATION WHAT DO YOU MEAN BY I AM NOT HONEST.

Posted by invest118 > 2013-12-19 17:19 | Report Abuse

Posted by ayeefk > Dec 19, 2013 12:46 PM | Report Abuse

Hi, Anbz,

Do not be upset. You should be happy that you are now a leader in your own right, not a follower.

>> anbz, a leader? Pls check out his posting yest at mqtech. How disgusting and all bcos of money.

Posted by kcchongnz > 2013-12-19 17:38 | Report Abuse

PW corp's share price just rose recently. Whether the rise is justifiable or not, we will talk about it the next time when I make a detail analysis of its business.

But if someone has bought it 10 years ago when the share price was RM1.35, he will cry with no tears. Look at the share price performance of PW corp for the last 10 years below. Does it justified to be a good company to invest in?

Year 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
Years ago 0 1 2 3 4 5 6 7 8 9 10
Price 0.890 0.450 0.435 0.480 0.400 0.450 0.545 0.595 0.575 0.760 1.350

The next chapter will be the performance of its business and what rubbish kind of assets it has. Coming soon.

Posted by kcchongnz > 2013-12-19 17:54 | Report Abuse

This was what I wrote when PW corp just published its 2012 end of year report in February. PW Corp surely looks like a trash to me.

PW announced its financial year ending 31/12/2012 on 28/2/2013. It made 8.6 sen a share and its asset backing per share is RM3.63. With the market price today at 42.5 sen, if you don’t quickly go and grab some shares, you are an idiot. So is investing that simple, just look at PE ratio, PEG, price-to-book value and apply Benjamin Graham Growth Model etc?

The profit before tax (PBT) in the income statement says that it is 5.4m but in the cash flow statement it is 1.2m, it is a difference of 4.5 times! Which is the correct one? Who is the external auditor? Did I read and misinterpret wrongly? I hope someone can correct me. EPS wise it is between the stated 8.6 sen or less than 2 sen. So which EPS do you use in the Graham Growth formula? I have the strong feeling that the latter one is the correct one because somebody must be trying hard to adjust this EPS. Believe me, there are thousands of ways a creative accountant can manipulate this EPS. Can’t help myself, I have seen this way too often in Bursa. I have seen company utilizing tax credit as earnings, booked claims they think others owe them as earnings. Very common. Worse still I first time saw a company treated its “Bargain purchase gain on acquisition of subsidiaries” as part of the earnings. Companies treating extra-ordinary gains as ordinary earnings are abundant in the Bursa, I believe. These are grossly wrong and can even be considered as frauds.

What is the meaning of PW revaluate its property, plant and equipment and gives an extra-ordinary gain of 89.9m? Are they going to sell these properties and that buyers are willing to pay for these newly revaluated and inflated assets? What is the motive behind this revaluation? PW’s major asset is its PPL of 243m, or 4.00 per share, newly revaluated. Its other assets are inventories and receivables which made up a total of 76.5m, or 1.10 per share. The stock of inventories requires 10 months to clear and the receivables 5 months to collect, very long time indeed. How is the quality of these assets as compared to those of Daiman above? Big difference in my opinion. So what is the fraction of the assets I would take into consideration as “real”, or probably be collected under a fire sale? I will arbitrary assume just one third of it. This will give this asset value of Rm1.80 per share. Coincidently, this is the amount the company owes the banks, the IRD and its creditors. So unless you put a higher realizable value for its assets, PW doesn’t justified as an asset play either.

Poultry farming is a very competitive business. It requires quite some capital outlay and the industry is a price taker. One company which has done very well as one of their businesses is QL Resources. That is because they have a wonderful and dedicated management. Others I am not sure.

KC Chong in Auckland 15/3/2013

Posted by humbled > 2013-12-19 18:00 | Report Abuse

Although it is not pmcorp's policy to value its assets regularly but I think it would be an excellent idea to do it. I am sure the share price will follow suit if the NTA turns out to be better than expected...

Posted by humbled > 2013-12-19 18:16 | Report Abuse

I know nta plays only a small part in deciding whether a company is worth investing but for now it seems like that is all this counter has for now for it to move forward at least until the quarter result comes out. Just my opinion...

Posted by thor88 > 2013-12-20 07:04 | Report Abuse

still have 10 days , will declare cash-pay-out announcement?

Posted by davidkkw79 > 2013-12-20 07:41 | Report Abuse

could be no cash pay-out, perhap has to wait longer.

Posted by smalltimer > 2013-12-20 08:23 | Report Abuse

how true is the cash pay out story folks? Have not even pay dividends yet!

Posted by calvintaneng > 2013-12-20 08:52 | Report Abuse

A Very Good Morning from Calvin Tan, Jurong West Singapore,

Today is exactly 3 months since my first post here in September 20th, 2013.
And what a long 3 months it has been for me. It seems that I have gone to Investment School and learnt a whole lot more.

To this day, I still don't know what is TA and FA. You see, I am from the Old School. I am also out of the Share Market for almost 3 years - fully absorbed in Iskandar Real Estate Investments plus promoting NFI Products. I firmly believe in the Excellent Prospects of Tudor Gold & Tango Chocolates.

I came here to announce the Turning Fortune of PM Corp - Plus A Cash Pay Out. The news was first disclosed in June 2013 AGM in Corus Paradise Hotel in Port Dickson. I have believed CFO Mr. Ho all along.

However, even after the resignation of CFO Mr. Ho he still affirmed that all Directors are informed of the Capital Reduction & Cash Pay Out proposal. The Crucial Question Now Is, "Will There Be A Cash Pay Out By 31st December, 2013? Or Will It Be Delayed? That I cannot say yes nor no.

What remains are:

1) Cash of RM140 Millions (about 20 cash a share) Is in PM Corp.
2) Directors Are All Aware of Capital Consolidation & Cash Pay Out Proposal.

What may be the uncertainties:

1) New Acting CFO Is Mr. Bernard (he needs time to adjust)
2) Will Cash Pay Out Be Carried Out In Time This Year?
3) Or Will There Be Changes To The Proposal?

Thank You Very Much,

Best Regards,

Calvin, Singapore.

All Are Invited To Attend PM Corp AGM In June 2014.

Posted by tsurukame > 2013-12-20 09:00 | Report Abuse

Calvin,
Old school means you r very people and relationship focussed plus you have the gift of the gab that is a very good skill to have to manage PMC top guns...just continue with your relations with PMC top guns and convince them that it is in their best interest and PMC best interest to go for CASH PAYOUT, CAPITAL REDUCTION & CAPITAL CONSOLIDATION so that shareholders like you, me and everyone in this thread will have appreciating share price plus growing dividend Yields..

Keep up the good effort but know it ain't easy...

Posted by davidkkw79 > 2013-12-20 09:02 | Report Abuse

It sounds like Janji tidak ditepati.... = =

Posted by tsurukame > 2013-12-20 09:04 | Report Abuse

And I m looking forward the "shock and awe Q4 2013 results" due to be released in Feb/march 2014!!! I mean shock and awe in a relative comparison basis as I understand ROMA cannot be built I 1 day!!!!!

Posted by messi > 2013-12-20 09:07 | Report Abuse

Janji tidak di tepati = NATO

Posted by tsurukame > 2013-12-20 10:01 | Report Abuse

Janji tak di tepati can also mean mungkin boleh di tepati, akan di tetapi and tunggu ditepati...atau akan datang

Just take the bigger view messsi, the recent FED tapering will result in higher interest rates...IF KKP is any smart, which I think he definitely is, he has to restructure fast before interest rate goes higher as his companies are highly geared. CASH PAY OUT is one of the means to help MUIIND. Just be patient....if u r already in, just wait for the Q4 2013 results sometime in Feb/March 2013...I think if Cash Payout is certainly on the agenda but will probably be after PMC Annual Audited Report 2013 is out.

Posted by tewnama > 2013-12-20 10:22 | Report Abuse

adoi....

Posted by humbled > 2013-12-20 10:45 | Report Abuse

Queueing at 0.235 to buy some. Is anyone here still buying?

Posted by tewnama > 2013-12-20 10:49 | Report Abuse

yang nak beli sudah beli. yang nak jual sudah jual. hanya cerita & lagu masih dimainkan di sini

Posted by humbled > 2013-12-20 11:17 | Report Abuse

Ya it's very quite because people start to realize that there may not be any cash pay out as we get closer to year end...... I am not familiar with cash pay out exercise although I know it takes time to materilize, but does it take this long (6 months or more) just to announce it AFTER it was approved in AGM?

Posted by tewnama > 2013-12-20 11:19 | Report Abuse

ingat.. cerita & lagu selalu gitu. selalu dikitar tak habis habis sampai orang pun sudah bosan

Posted by zu1967 > 2013-12-20 11:25 | Report Abuse

pmcorp share price is under pressured due to janji tak ditepati. Short term trader started to dispose its shares but the no of sellers are not encouraging. I believe that it willi be over by 31/12/2013. it is good for short term traders to cut loss now as the probability for cash out is remote. CALL FOR SELL SELL.

Every 4th quarter PMCORP declares encouraging sales due to festive season as depicted by its quarterly results. Its 2013 4th quarter results should disclose much better results. WHY?

1)3rd results - 2013 disclosed poor 3rd quarter sales of only RM18.9 Mil whereas the past 2 years, its sales have been always above RM20 Mil. one of the reasons - pls read its 3rd quarter results. Therefore these sales will be recorded in the 4th quarter results 2014.

For the past 3 quarters 2013, very sad PMCORP's operating profit not so encouraging - probably due to a)lower profit margin - increase in cost of materials b) Aggressive marketing expenses.

If marketing expenses are of the causes for poor operating profit. then it will be very good. I am forecasting its 4th quarter sales will be over RM30 Mil. (RM27 Mil 4th 2012 RM26.3 Mil 4th 2011). In view of low operating profit/loss recorded for the past 3rd quarter, I am expecting lower yearly operating profit for 2013. In 2012, the company declared about RM8 Mil annual operating profit. Despite lower operating profit for 2013, PMCORP still recorded good performance due to gain of about RM24 Mil on disposal of assets. As such, I am expecting Net profit After Tax is around RM26 to RM27 Mil for 2013 with a turnover of above RM86 Mil slightly better than 2012. If the company can record a turnover of > RM86 Mil for 2013, it shows that the company is on the right track.

WHAT IS actual NTA of the company. around 48 sen. How about RM58 Mil goodwill. If we are to write off this goodwill. NTA will reduce to around 40 sen and it is still good against current market price of only 23 cents. If we are to take the account of the hidden value of its properties then it will be higher than 40 sen. Going forward, I believe its NTA will be on the rising trend due to accumulation of profit as long as the company can sustain a yearly turnover of above RM80 Mil. with aggressive marketing effort, it will be easy for PMCORP.

PMCORP still have RESERVE (LOSS) of around RM19 Mil. as long as this reserve -ve. pls do not expect dividend payout. assuming the company make a yealy profit of RM5 Mil. then pls wait another 4 years to earn dividend. if the company can increase its sales at high growth rate then its profit will be excellent.

Some investors may argue : the company have accumulated losses How come they can declare capital payout. pls take note: only dividend cannot be paid as long as the company is having accumulated losses. If the company has cash they can do capital payout. no problem.

is it wise for the company to do capital payout? yes for the sake of MUII, highly geared entity. BUT it is not good for PMCORP. for future expansion PMCORP needs the cash to support its operation. CASH is required to increase its sales and profit as well. Call for trading buy if PMCORP declares cash payout. Call for Long term buy if PMCorp keeps its cash reserve.

NOTE: Trade at your own risk. recommend to buy towards year end as short term traders are disposing their shares.

Posted by tewnama > 2013-12-20 11:27 | Report Abuse

panjang nya...

Posted by anbz > 2013-12-20 11:32 | Report Abuse

tsurukame..why do u believe KKP is SMART? are u kidding? lol..he was very very stupid before...now he is very old....do u think he cares?

this counter will limit up if KKP die and replaced...just like hwangdbs

Posted by choochoo > 2013-12-20 11:35 | Report Abuse

coz tsurukame and calvin are working for KKP

Posted by vinvin > 2013-12-20 12:08 | Report Abuse

Unico just made a cash pay out of RM3-00 per share n I just received today RM15,000-00 for my 5,000 shares. Very good deal!!!

Posted by tsurukame > 2013-12-20 12:11 | Report Abuse

anbz, no problem lah boleh pinjam brain power lah!!!

Posted by messi > 2013-12-20 12:14 | Report Abuse

vinvin u serious or shiok sendiri

Posted by vinvin > 2013-12-20 12:18 | Report Abuse

What I referred above is Unico Holdings Berhad not listed in KLSE.

Posted by vinvin > 2013-12-20 12:25 | Report Abuse

What Unico Holdings Berhad could do by selling its assets in Unico-Desa n distribute the money to its shareholders, i think PMCORP can also do.

Posted by choochoo > 2013-12-20 12:27 | Report Abuse

is Unico Holdings own by KKP?

Posted by vinvin > 2013-12-20 12:31 | Report Abuse

No, definitely no!!!

Posted by tsurukame > 2013-12-20 13:03 | Report Abuse

vin vin, congrats..u r very rich now !!! Good investment decision.

Posted by vinvin > 2013-12-20 13:22 | Report Abuse

Tq tsurukame, hope ur investments will prosper too.

Posted by nicole76 > 2013-12-20 14:32 | Report Abuse

To Tsurukame and Calvin Tan, please post your comments and reviews in this forum. You don't have to HARD SELL this company IF it is so good as you claim.... You must have your investment STUCK here that's why you need to get the stocks moving. It's bad to mislead others to invest in poor performing companies.

Posted by tewnama > 2013-12-20 14:36 | Report Abuse

nicole76, u mesti baru di sini. kalau kamu comment negative, nanti u akan dibelasah kau kau

Posted by choochoo > 2013-12-20 14:37 | Report Abuse

well said, nicole76

Posted by zu1967 > 2013-12-20 14:38 | Report Abuse

Nicole 76. U are still young. So eat salt a lot dont give stupid comment. Must be supported by facts and figures.

Posted by nicole76 > 2013-12-20 14:45 | Report Abuse

Sorry Tewnama and zu1967, but really fed up of Tsurukame and Calvin Tan dissing other class 1 companies in their forum and Hard Selling a company that is a class 4. Read Buffetology ya...back up with facts of performing counters.

Posted by mikekong55 > 2013-12-20 14:48 | Report Abuse

no good also don't say out loud. pretend to be good will do.just play along mah.correct, zu1967

Posted by zu1967 > 2013-12-20 14:50 | Report Abuse

Nicole76. Could u explain why pmcorp is poor performance company. Probably we may listen to your advice

Posted by nicole76 > 2013-12-20 14:51 | Report Abuse

Thousand apologizes to all the other investors, wanted them to get a taste of their own medicine for posting up comments in other class 1 counters like Nestle and Dutchlady.

Posted by nicole76 > 2013-12-20 14:55 | Report Abuse

They should not post bad things about other Class one counters that are making more than 25% in return of investment annually. It is giving out wrong advise to those not familiar with investments and misleading others.

Posted by mikekong55 > 2013-12-20 14:59 | Report Abuse

nicole76, sell all blue chip buy mui the red chip.plenty of people here already sell underwears/pants to support this pmcorp.have you sold yours.

Posted by nicole76 > 2013-12-20 15:04 | Report Abuse

Hi Mikekong55 sorry i don't join bandwagons bad sign of speculating. Hi Zu1967, from Buffetology calculation, this counter only gives back less than 10% return of investment annually. Good luck to both of you. Have a nice day and i hope the two buddies mentioned earlier will stop posting to mislead others.

Posted by zu1967 > 2013-12-20 15:08 | Report Abuse

Nicole76. Only god is petfect if u believe in god. Human not perfect but each individual believes he or she is perfect. That why this forum we need to have check and balance. Mikekong55. Mui is high risk counter. Play short term is also not recommended. Pmcorp is ok at presence of time.