Posted by JCool > 2013-10-16 11:07 | Report Abuse

tis counter has no fundamental... is jz supported by Sing Dollar at d moment.... exchange rate in their favour n high... but in time ur be made lunch of by them who r "superior"

Posted by anthonylow > 2013-10-16 11:27 | Report Abuse

Investing in PMCorp is a very safe thing to do. It has all the upside potential as its quality assets less all liabilities is worth more than its present share price. It business in chocolate is small but profitable. Potential to be the next Nestle? I think this statement is too far fetched.

Balance sheet healthy and no sign of burning of cash. there is little or no downside unless the major shareholders squander away the money it has.

Posted by SANG-JERO > 2013-10-16 11:50 | Report Abuse

JCool...The more I read....The more I will be at the sideline......I am independent....I got no team....btw , what/who is jwc?.....

Posted by kcchongnz > 2013-10-16 11:52 | Report Abuse

Posted by houseofordos > Oct 16, 2013 09:47 AM | Report Abuse
Calvin & KC, I m curious why PMCorp would undertake capital reduction ? Why not just pay out a special dividend ? Normally I would expect them to do this to wipe out the accumulated losses and put them in better financial standing. But current par value is RM0.5, what is the new par value ? Honestly I ve not seen companies in Bursa with par value of RM0.3 or RM0.4. Closest is maybe RM0.2. Not sure if there is any rules on this, So if assuming new par value RM0.2, their cash on hand is only RM0.19, this is not enough for cash distribution to shareholder unless they borrow from bank or sell more assets.
Please educate me. Many thanks

I was waiting for calvin to answer this as I think he knows the details already. This thing is new to me also. But can I put forward what I think? do I have to make any disclaimer, as I really am not sure of this? What the heck, I just go ahead.

Looking at PMCorp's 2012 audited account on the equity portion of the balance sheet, it has 30.5m of treasury shares and 41m in accumulated losses. There is no retained earnings which is a distributable reserves. Dividends can only be distributed from distributable reserve in retained earnings. Hence PMCorp has to do a capital reduction, to cancel off the treasury shares, and wipe off the accumulated losses and create some kind of "profit" as "retained earnings". Then only it can distribute dividends. exactly how they are going to do it, I don't know.

Posted by izoklse > 2013-10-16 11:58 | Report Abuse

sell if you cannot tahan. need to kick out all the week holder.

Posted by houseofordos > 2013-10-16 12:03 | Report Abuse

KC, ok thanks for the explanation. So i guess the main purpose is mainly to unlock the value and allow it to pay dividends. Still not sure on what new par value will be though and how much cash distribution... Par value reduction is never positive in my mind with what I ve seen with MAS... Of course reason may be different for the latter...

Posted by JCool > 2013-10-16 12:05 | Report Abuse

Sure?? Very safe??? Quality assets??

hv 94mil cash in hand.. but hv 84mil owing to its subsidiaries... so is tis cash free for use???

n look at d impairment loss made on loans to its subsidiaries (due to its subsidiaries cannot pay up).. it is a huge 642mil n increasing..,, 2012 4 mil 2011 6 mil...... original loan amount was 852mil....

d scary thing is it is increasing every year....

so owed by subsidiaries cannot collect... but owing to subsidiaries hv to pay.... so how? cash getting smaller n smaller la....


n hello d one who pay u d dividend is d company not d group ok

Posted by JCool > 2013-10-16 12:13 | Report Abuse

house.... ya how can par value reduction b positive especially for PMCORP where there is huge losses to clear... n which d term capital REDUCTION is more appropriate...

n since whn has capital cancellation due to losses... where 1000 shares r reduced to say 200 is celebrated n keenly awaited?!?
16/10/2013 12:12

Posted by juinming0304 > 2013-10-16 12:34 | Report Abuse

LAST MINUTES EATEN 1.5M...coming strong for.the.bonus bonus payout..dun forget o

Posted by hello > 2013-10-16 12:41 | Report Abuse

Way to go calvin!

Posted by MG9231 > 2013-10-16 13:46 | Report Abuse

Very funny, those who disagreed with Calvin still hang around here and persuade others not to believe Calvin. I think the rational persons who don't believe Calvin should just walk a way to look for other greener pasture instead of wasting here.

Posted by jenabchen123 > 2013-10-16 13:53 | Report Abuse

No funny. We need such good people with substance for check and balance.

Posted by MG9231 > 2013-10-16 13:55 | Report Abuse

But day in day out, the things has been higlighted

Posted by member41 > 2013-10-16 13:58 | Report Abuse

The entertainment is good... last time this thread only 1 page now so fast 20 pages within a month.

Posted by faberlicious > 2013-10-16 14:00 | Report Abuse

ya,how come ah? If Calvin's a fake,then how come
I make good money from PMCORP. First bought
at 17-18 cents,sold off at 23.5 cents. Reload again
at 21-22 cents again.

Posted by juinming0304 > 2013-10-16 14:05 | Report Abuse

Keep buying this stock...TP RM0.35. DUN EXIT SO FAST...

Posted by jenabchen123 > 2013-10-16 14:30 | Report Abuse

Today is big day in US. Yesterday US market down so much at a very last minutes when the proposal was rejected. Negative watch by Fitch. People seems don't care over here. For counter like PM Corp, MUI, I am holding back my decision to jump in until this has been cleared. Kalau positive, surely grabbed some as investor.

Posted by Tripaka > 2013-10-16 14:39 | Report Abuse

moving....

Posted by member41 > 2013-10-16 14:44 | Report Abuse

juinming: how to get TP 35c?

Posted by MCLove > 2013-10-16 16:50 | Report Abuse

looks like pmcorp, muiind n muiprop are on their way.... any tp for all?

Posted by hello > 2013-10-16 16:53 | Report Abuse

after all the hoo haa and drama, it breaks 0.23 ...

Posted by member41 > 2013-10-16 16:55 | Report Abuse

havent break 23 yet.. but there's buy up in past 5 min

Posted by juinming0304 > 2013-10-16 17:54 | Report Abuse

Closing 0.23 tomorrow good push up

Posted by izoklse > 2013-10-16 18:22 | Report Abuse

if break 0.23 then next is 0.25 to break.

Posted by member41 > 2013-10-16 18:56 | Report Abuse

Mui also up. Nice nice.

Posted by Lim AS > 2013-10-16 18:59 | Report Abuse

kao kao lai ....

Posted by albertng > 2013-10-16 20:36 | Report Abuse

Boi ta han laiw

Posted by 1Superman > 2013-10-16 22:22 | Report Abuse

Calvin,tq for strong recommend pmcorp and i study

Posted by anbz > 2013-10-16 23:22 | Report Abuse

where's calvin? where's his answers to my questions? where's his answer to kcchong latest 'how' question? is he roaming again here and there?is he an insider from pmcorp...the mastermind of 'might-be-goreng-only' of pmcorp?

Posted by anbz > 2013-10-16 23:26 | Report Abuse

what about tango which is not that tasty to my tounge

(i don't like it..sucks..sorry calvin ..honestly...bila aku makan..ada rasa lemak minyak seperti yang

ada dalam coklat2 murah yg lain) compared to the more popular brands???

and poor advertisement?

Posted by calvintaneng > 2013-10-16 23:28 | Report Abuse

anbz all the answers can be found from my comments on this thread since sept 20th, 2013.

I want to answer kcchongnz question about why no dividend but only capital repayment. He already answered it by his deduction accurately.

I am still trying find a simple illustration so that every one can see more clearly.

Good night anbz and everybody.

Posted by anbz > 2013-10-16 23:35 | Report Abuse

Tan Sri Dato' Khoo Kay Peng and friends has been big collector of pmcorp i April 2013...and now he has at least 471,146,200 ...gila banyak..wa takut ini org bila dump...langit pun tak runtuh...jantung mesti boleh runtuh ...pedih...for now ..not yet...volume is not high enough to dump zillion of shares...and the price target...now ..might not what is in tan sri's mind...wa takut bila tiba itu masa...syhhh

Posted by member41 > 2013-10-16 23:42 | Report Abuse

Any chance he take private? Last time got one rumor in investlah

Posted by anbz > 2013-10-16 23:51 | Report Abuse

posted by sephiroth
read B14
http://cdn1.i3investor.com/my/files/dfgs88n/2013/08/22/1479209292--1281326040.pdf
12/10/2013 16:06
------
posted by kcchongnz

Those losses have already realized as shown, haven't they? That is why its equity have reduced through the years and hence NTA is only 44 sen per share.

In essence, that is history. For example, last time your share portfolio was worth 2m, and you are only willing to part with it at 1.8m say. Now your portfolio is only 50,000, but you are willing to sell to me at 30,000. Why don't I take?
---
my comment:
these comments made me very curious...this is not kcchong's way...is it? why don't he just look at the 1st page???
can he just ignored the SECOND QUARTER ENDED 30 JUNE 2013..and claim it 'also' to be history? baru 3 bulan dah? or if that's not the case...that he was only referring to statement B14...not the 1st page...can kcchong pretend that he doesn't see anything in it? isn't that poooor result? ...oh may be 3 months ago punya cerita...is defined as history? musykil..before kcchong likes to post historical profits for counters in discussion?...now history...is not so important
---
sorry kcchong..wa memang tak boleh lawan lu...but..this one...u seems has adapted to apa nama...evolution?

Posted by calvintaneng > 2013-10-17 00:59 | Report Abuse

OK dear fellow investors at PM Corp,

Let me give you a simple illustration.

If a parent own wealth in 3 forms of investments:

1) A durian plantation RM300 Millions

2) Investment in Other Businesses RM1 Billions

3) Real Estate in Land & Houses RM500 Millions

Now his children is asking for money because of oversea education,, buying their own home or whatever need etc etc.

Supposing that the durian plantations are just bearing fruits after 7 years of planting, and the fruits harvested are still few in the initial years. There isn't enough cash for payout.
We call this earnings for dividend payment. Few durians. Little income. How to pay dividend?

However, the father decides to liquidate part of his RM300 Millions investment in Other Businesses. So he sold of his shares in Bank of East Asia (BEA) HK,(5 Million Shares) Johan shares.& others.

He also sold off some property - example NFI Warehouse, S'pore (RM39.7 Millions)

Now the father having sold off Some Shares & some real estate has netted a Whopping RM141 Millions in CASH. (He still has A LOT MORE INVESTMENT & REAL ESTATE LEFT)

Since he decided to target his investment in his durian plantation by planning to export to Japan & Worldwide, he has cut down on other investments. So he consolidate his future investment into one - Durian plantation - in this cast NFI Chocolate Manufacturing.

So he is distributing CAPITAL FROM SALES OF OTHER INVESTMENTS & REAL ESTATE, nothing to do with earnings from durian plantation as yet.(Dividend yet future)

In Future The Children can Expect Further CASH DISTRIBUTION.from all 3 Investments. You see as the NFI Sales Improved like Dutch Lady, Hup Seng Biscuit, Nestle, F & N & other Consumer Food & Drink Companies; there is NO NEED FOR HIGH NTA.

Look at Nestle's Price: RM68.00. Now look at NESTLE'S NTA (Net Tangible Asset) RM2.47

NESTLE HAS AN NTA OF RM2.47 ONLY? BETULKAH? DUA RINGGIT EMPAT PULUH TUJUH SEN SAHAJA! Check It Out: Nestle indeed has an NTA of RM2.47 only!

A Food Company Is CASH GENERATING. No Need High NTA. Warren Buffet like SEE'S CANDY BECAUSE SEE'S CANDY GENERATE CASH FOR HIM TO INVEST IN OTHER UNDERVALUE COMPANIES.

Now You See. You Can Have The Cake (in this case Chocolate) & Eat It, Too!

Have A Good Night Sleep.

Posted by kcchongnz > 2013-10-17 06:48 | Report Abuse

Evolution? do you believe in evolution?

Posted by anbz > Oct 16, 2013 11:51 PM | Report Abuse
posted by sephiroth
read B14
http://cdn1.i3investor.com/my/files/dfgs88n/2013/08/22/1479209292--1281326040.pdf
12/10/2013 16:06
------
posted by kcchongnz

Those losses have already realized as shown, haven't they? That is why its equity have reduced through the years and hence NTA is only 44 sen per share.

In essence, that is history. For example, last time your share portfolio was worth 2m, and you are only willing to part with it at 1.8m say. Now your portfolio is only 50,000, but you are willing to sell to me at 30,000. Why don't I take?
---
my comment:
these comments made me very curious...this is not kcchong's way...is it? why don't he just look at the 1st page???
can he just ignored the SECOND QUARTER ENDED 30 JUNE 2013..and claim it 'also' to be history? baru 3 bulan dah? or if that's not the case...that he was only referring to statement B14...not the 1st page...can kcchong pretend that he doesn't see anything in it? isn't that poooor result? ...oh may be 3 months ago punya cerita...is defined as history? musykil..before kcchong likes to post historical profits for counters in discussion?...now history...is not so important
---
sorry kcchong..wa memang tak boleh lawan lu...but..this one...u seems has adapted to apa nama...evolution?

What are you talking about anbz? Are you talking about the term I used "NTA"? If so then there is a mistake there. Because it should be NAB, or net asset backing. But you don't seem to talk about that, because I am not sure you know the difference.

So the NBA of PMCorp is 44 sen as shown in my post as re-posted by you. That is based on the information as shown in the latest balance sheet on 30 June 2013. So what is wrong with that?

The first page? Poorer result? Oh you are talking about its net income, aren't you? But have I been talking about its net income? Did I say based on its net income, its share should worth so much so much?

Come on anbz, try learning some valuations somewhere. There are basically two main valuation methods; asset based, or earnings based. I never used earnings based method to value PM Corp, because if you have read my posts on PMCorp, I think its earnings is not significant at this moment. But it still earn some money from its food and confectionery business though. Its earnings may expand according to calvin.

Posted by JCool > 2013-10-17 09:37 | Report Abuse

anbz.... now u know kcchongnz is flawed in many many ways

jz one example here.. tis is his favourite... "plant machinery debtors r not quality assets... cash is"

so u c pmcorp is a wet dream to him.. as pmcorp sets out to sell its property plant machine etc .. which it has bin doing for a few yrs to hv cash tat it badly needed....

as d sales continue d feeling is getting more n more intense... n wil climate whn pmcopr sold off all its assets n jz hv only cash in d bank...

but u think make sense or not?? "plant machinery not quality asset" so don't buy plant machinery... "debtors r not quality asset" so don't make any sales....

as long as thr is cash..."quality" asset "quality NTA"..... crappy result can b over looked as u hv noted

Posted by alpha1 > 2013-10-17 09:55 | Report Abuse

would you buy a 100 dollar note for 50 dollars even if you will never earn an interest on that note? same concept

Posted by 1Superman > 2013-10-17 11:15 | Report Abuse

today cant break 23c?

Posted by calvintaneng > 2013-10-17 11:37 | Report Abuse

TUDOR GOLD CHOCOLATE

Very High in Cocoa content.
Cocoa Butter, Milk & Imported Nuts

NO VEGETABLE FATS (Palm oil)
No illipe or Shea fats (Wild boar food)
No Wheat, Peanut or Egg white.

TUDOR GOLD - ISO 9001 / HACCP Certified

The Gold Standard in Chocolate Quality you can Trust!

Posted by 1Superman > 2013-10-17 12:18 | Report Abuse

what wrong on newbiestockreturns, are you jeolous ? you also can promote nestle product in nestle forum

Posted by KC Loh > 2013-10-17 12:19 | Report Abuse

Posted by newbiestockreturns > Oct 17, 2013 12:07 PM | Report Abuse
calvintaneng=KCLOH... he is using a different nick.. the same person

No wonder your stock selection is so good...NOT! LoL

How's your narra doing? I haven't gone check yet because busy trading. Isee your limited amount of money relegates you to bitchin' only! HAHAHAHAHA

Posted by KC Loh > 2013-10-17 12:24 | Report Abuse

Must be sad in a poor man's world this newbaby! LoL

Posted by calvintaneng > 2013-10-17 12:28 | Report Abuse

newbiestockreturns, please go and see a psychiatrist. if you need my help call Calvin at 014 6101668

Posted by calvintaneng > 2013-10-17 12:30 | Report Abuse

You are welcome to JB Monday to Friday.

Posted by frankloh > 2013-10-17 12:37 | Report Abuse

It's nothing wrong with Calvin.He is just described product which is manufactured by NFI.

Posted by KC Loh > 2013-10-17 12:43 | Report Abuse

Posted by calvintaneng > Oct 17, 2013 12:28 PM | Report Abuse
newbiestockreturns, please go and see a psychiatrist. if you need my help call Calvin at 014 6101668

Newbaby, so easy assessment of you by others!Priceless! Hahahahahahahahahahahah

Posted by faberlicious > 2013-10-17 12:50 | Report Abuse

No need to see psychiatrist lah,just go and join those
crackpots at Tanjung Rambutan!

Posted by KC Loh > 2013-10-17 12:53 | Report Abuse

Woooo donkey Dave, everyone is asking you to go back to your residence in hospital bahagia! Hahahahahahaha

Posted by rooney2u > 2013-10-17 13:54 | Report Abuse

calvin, it is your true HP 014 6101668 ?