Posted by FastMoney666 > 2023-10-24 11:41 | Report Abuse

His son is also a director of CDAM. I think it is a dynasty in the making. Peasants must be thinking there will be forever prosperity.😂😂

Posted by FastMoney666 > 2023-10-24 11:51 | Report Abuse

Please do not compare to WB. WB is going all in with all he has in Berkshire Hathaway and taking $100,000 salary per year. He doesn't charge fees based on Book Value while owning 38% of Berkshire. Huge difference!

Posted by FastMoney666 > 2023-10-24 16:50 | Report Abuse

😅🤣😜

Posted by FastMoney666 > 2023-10-24 19:52 | Report Abuse

The fund manager really confused me.

Found this during my myth busting research:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3219052

Buy and hold forever, CD S/B disposed shares on 13 Dec 2021 - 13,000 shares at 2.40/share. He must be feeling very painful. NAV on 16/12/2021 was 3.64, he sold at the discounts of 34%.

🤔

Posted by FastMoney666 > 2023-10-24 20:31 | Report Abuse

He initiated lawsuits against COL around that time.....must be fat fingers

Posted by FastMoney666 > 2023-10-24 20:33 | Report Abuse

Small matters......but I will keep this whenever he challenge me the sell is NEVER

Posted by dumbMoney > 2023-10-25 02:15 | Report Abuse

At the last AGM, management supporters cast 43.7 million votes, or around 31% of total outstanding shares. When measured against total votes cast at the meeting of 76.9 million, that's a majority of 57%. Whoever is plotting to remove the manager must be delusional and likewise, management must be paranoid to even put credence to it and raise an alarm. After all, they already know the oppositions' shareholdings, unless they can mount a stealth attack, like Hamas against the Israelis.

Posted by FastMoney666 > 2023-10-25 08:20 | Report Abuse

Murid murid, kelas sejarah ini hali😂😂

"Julius Caesar was assassinated by a group of senators on the Ides of March (15 March) of 44 BC during a meeting of the Senate at the Curia of Pompey of the Theatre of Pompey in Rome where the senators stabbed Caesar 23 times. They claimed to be acting over fears that Caesar's unprecedented concentration of power during his dictatorship was undermining the Roman Republic. At least 60 to 70 senators were party to the conspiracy, led by Marcus Junius Brutus, Gaius Cassius Longinus, and Decimus Junius Brutus Albinus. Despite the death of Caesar, the conspirators were unable to restore the institutions of the Republic. The ramifications of the assassination led to his martyrdom, the Liberators' civil war and ultimately to the Principate period of the Roman Empire."

https://en.wikipedia.org/wiki/Assassination_of_Julius_Caesar

Posted by dumbMoney > 2023-10-25 08:54 | Report Abuse

@FastMoney Didn't know you also studied Shakespeare besides making fast money. Just wondering whether your 666 nick is the good guy or the bad guy? Warning people to beware of the Ides of March or instigating people to do a Brutus on Caesar? Too bad the AGM is in November, not March, so wrong timing.

Posted by FastMoney666 > 2023-10-25 08:59 | Report Abuse

"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows." 1 Timothy 6:10

Posted by FastMoney666 > 2023-10-25 09:00 | Report Abuse

Hence FastMoney666😂😂

Posted by FastMoney666 > 2023-10-25 09:02 | Report Abuse

By now Patient Investor will know how many shares I got --> 1 share 😂😂

Posted by FastMoney666 > 2023-10-25 09:06 | Report Abuse

One thing I want to be clear, I have no part of Brutus because if you read the second part, the conspirators caused the downfall of the Rome empire.

Posted by FastMoney666 > 2023-10-25 09:07 | Report Abuse

So why murder Caesar?

Posted by dumbMoney > 2023-10-25 09:16 | Report Abuse

Or maybe you are also a casino regular, playing sic bo betting on 666 for a fast money payoff at 150 to 1. If so, I would advise you that the true odds is 216:1, the casino is ripping you off.

Posted by FastMoney666 > 2023-10-25 09:18 | Report Abuse

I hope the fund manager will stop his irrational fears. Brutus existed in his mind all these while?

Posted by FastMoney666 > 2023-10-25 09:20 | Report Abuse

haha.... I may take Casino bet by not iCAP. Very bad feng shui as pointed out by i3lurker. Income Capped. Making small money only

>>>>>>>>>>>>>>>
Or maybe you are also a casino regular, playing sic bo betting on 666 for a fast money payoff at 150 to 1. If so, I would advise you that the true odds is 216:1, the casino is ripping you off.

>>>>>>>>>>>>>>

Posted by dumbMoney > 2023-10-25 09:24 | Report Abuse

@FastMoney, Because Caesar was trying to rule Rome as an emperor instead of a republic, which the senators thought was better governance wise.

Posted by FastMoney666 > 2023-10-25 09:27 | Report Abuse

I see.....then Caesar needs to buy iCAP till 38%...don't ka ka jiao jiao through his small companies 😎

Posted by JunHoHoHoHo > 2023-10-25 10:17 | Report Abuse

What did I miss here? Saw feng shui things here 😆

Posted by dumbMoney > 2023-10-25 12:22 | Report Abuse

Haha, didn't know Shakespeare is still being taught in schools, or you guys are as old as I am, still educated in English medium and not BM.

Posted by FastMoney666 > 2023-10-25 12:25 | Report Abuse

@Jun😂😂😂😂

Hali ini dalam sejarah. love to buy history book - usually very thick and very cheap - better value than iCAP!

Haha...it was all started with a topic of imaginary enemy. So the fund manager do all kind of things hitting the imaginary enemies but recently is getting too much by dragging sympathizers or grassroot people with dissatisfactions into the muds.

May be because of one of his perceived enemies with past background of doing the major shareholders of closed end funds a favor. Those major shareholders with almost like 40%++ ownership with shitty performance. They were too embarrassed to close down the funds by admitting their shitty performance problem that reflected in persistent discounts.

Give you one of the examples : Amanah Millenias Closed End Fund.

Even our beloved fund managed was quoted by newspaper in year 2007.

"Capital Dynamics' Tan described the winding-up as “not surprising” and expected. The fund’s net asset value had gained some 9% since its inception but was said to remain unattractive when compared with fixed deposit rates. "

https://www.thestar.com.my/business/business-news/2007/07/03/impact-of-amanah-millenias-windingup-minimal

So they voluntary closed down the fund as requested by shareholders with heaps of relieves, losing a bit of fees but big face saving.

Since then, the fund manager suffered hallucinations of "Brutus" to live freely, without collecting a single sen of rental", in his minds. Perhaps COL entrance with 12% ownerships in 2012 wanted to elect some directors of their own, it is very normal for any public company to do that anyway. After the big drama and like small kids screaming, throwing tantrum, threatening to resign - COL did nothing to him. He leave him alone to choose all his directors for the past 10-11 years.

@dumbMoney went back to help him to do a therapy at no charge, why he got this sickness by going back reading iCAP constitution and found out it is take over proof and the fund manager position is unshakeable.

reproduced @dumbMoney post now >>>>>>
The constitution is custom tailored, from the way the clauses are drafted. If iCap is no longer managed by CDAM, it can no longer use the name iCap, as the IP rights belong to CDAM. How many investors take the trouble to go through the constitution to read the fine print before investing? I didn't until now because of the foreign shareholdings limit issue. Interesting reading on corporate control.

>>>>>>>>>>>

Then i3lurker added this comment, IP is not that great because

>>>>>>>>>>>>>
iCap is lousy name extreme bad feng shui so TTB is welcome to take it back.

iCap means income is Capped, you will make small money only.
>>>>>>>>>>>

😂😂😂

Sekian Terima Kasih.

Posted by dumbMoney > 2023-10-25 13:34 | Report Abuse

@FastMoney You never read what I post carefully. I have said COL did nothing all these years publicly (I have no access to what it may have said privately to management) to change iCap, so they have nothing to do with the nomination of directors for election in 2012. In fact, judging from the polling results then, one of the two substantial shareholders did not vote, either abstained or got their vote somehow disqualified, You need to detox the COL poison from your mind! Have you come across any fund manager being asked to explain why they voted in a certain way at an AGM? COL obliged by posting its voting policy for the record. If I don't vote for a certain director simply because I don't like his face, so what? It is perfectly within my rights as a shareholder.

Posted by dumbMoney > 2023-10-25 13:44 | Report Abuse

I am surprised that up till now, COL has not yet sued iCap for damages from the wrongful injunction the latter had obtained upon undertaking to pay damages. Instead of being able to buy at around the $2 level, it is now forced to buy at the much higher prices. That is cause for action.

Posted by FastMoney666 > 2023-10-25 14:17 | Report Abuse

@dumbMoney. Soli if I got the facts wrong. You can how wrong I am by retelling the story in my own words. Clearly the toxic is too deep.

Posted by FastMoney666 > 2023-10-25 14:19 | Report Abuse

Would you mind to clarify on the nomination of directors being linked to COL?

Posted by FastMoney666 > 2023-10-25 14:22 | Report Abuse

In 2012. Or any other persons have witnessed the whole episode so that this story of COL being linked to that drama is clear to all?

Posted by dumbMoney > 2023-10-25 14:42 | Report Abuse

@i3lurker Management can't help looking behind its back because there was this precedent of a local CEF being liquidated. History can and do repeat itself. So having super majority vote requirements for special resolutions to remove or wind up is much safer than just a simple majority ordinary resolution. See, history learned already.

Posted by dumbMoney > 2023-10-25 15:00 | Report Abuse

@i3lurker What you just said would be called inciting a riot in US, like what Trump did to get his supporters to storm the capital. Bringing up guns put this chat to a whole new dimension already, like drug barons vs FBI TV series.

Posted by FastMoney666 > 2023-10-25 15:04 | Report Abuse

@ dumbMoney - I was researching what would be the meaning of undertaking to pay damages in this announcement yeaterday.


Further to the announcements dated 19 November 2021 and 17 December 2021 in relation to the Interim Injunction Application (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.



Further to the hearing held on 21 December 2021, the Board of Directors of the Fund wishes to announce that on 21 December 2021, the High Court of Malaya Kuala Lumpur had granted the following ad interim injunction Orders upon ICAP's undertaking to pay damages, until the disposal of the Originating Summons No. WA-24NCC-517-11/2021 or until such further orders of the High Court of Malaya Kuala Lumpur:-

an injunction to prohibit CLIM either by itself and/or through its nominees, agents, clients and/or employees, from acquiring any further shares in ICAP and/or increasing its aggregate shareholding in ICAP beyond its current aggregate shareholding of 21.955% of the total issued capital of ICAP as at 14.12.2021; and
in the event CLIM either by itself and/or through its nominees, agents, clients and/or employees, sell and/or dispose-off and/or reduce its aggregate shareholding in ICAP to below 20% of the total issued capital of ICAP, an injunction to restrain CLIM either by itself and/or through its nominees, agents, clients and/or employees, from acquiring shares in ICAP that would result in an increase in CLIM’s aggregate shareholding in ICAP in excess of 20% of the total issued capital of ICAP.
The Fund will make further announcement on the developments of the above matter as and when is necessary.



This announcement is dated 21 December 2021.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3220539

Your answer is clear to me what it means, if we take the volume from 21 Dec 2021 till 2 Aug 2023 and charge it iCAP, I am wondering how much does it cost ? 😥😥😥That will be 0.36/share compensation for every missed opportunity to buy. Caesar will surely will be stabbed to death.

>>>>>>>>>>
I am surprised that up till now, COL has not yet sued iCap for damages from the wrongful injunction the latter had obtained upon undertaking to pay damages. Instead of being able to buy at around the $2 level, it is now forced to buy at the much higher prices. That is cause for action.

Posted by FastMoney666 > 2023-10-25 15:24 | Report Abuse

Wa beh heow lo😂😂(I don't know in Hokkien)

Posted by FastMoney666 > 2023-10-25 15:53 | Report Abuse

I am a messenger but unfortunate being the bearer of bad news....I will know my ending. I need to buy more guns😂😂

Posted by FastMoney666 > 2023-10-25 15:57 | Report Abuse

I know how is like in the US, it was so peaceful, no gate, no prison house grill. I asked my friend how do you guy do that? He replied: try to enter of the house. You will know the answer. 😂😂

Posted by FastMoney666 > 2023-10-25 15:58 | Report Abuse

Speaking of MAS, my flights was delayed, given condolences ang pow, RM 30 x 2. 😅

Posted by FastMoney666 > 2023-10-25 16:00 | Report Abuse

The Philippines?? - FX Jeepney - was fun - I don't stared, enjoyed the squeeze 😂😂 No risk of being shot

Posted by FastMoney666 > 2023-10-25 16:01 | Report Abuse

Since I am a shareholder of Airasia via iCAP, I think take AirAsia better. support your own company mah

Posted by FastMoney666 > 2023-10-25 21:49 | Report Abuse

Since everybody refused to tell me what happened in 2012, I have to keep digging. Finally, found a piece of a very old news going back to 2012.

The were 3 parties - (1) COL of which was not mentioned in the Star write up sent a proxy to attend the AGM. (2) Lo who was seeking a board of director as a member of iCAP and (3) Laxey Partner - Andew Pegge also seek as a BOD. I believe COL, Lo and Laxey really didn’t know each other. Because of this happened so coincidence turned up at the AGM, the fund manager insisted all three of them were plotting a "hostile takeover". Looking at these details, none of it has the element of "hostile takeover" or evidence they worked together. How can seek a BOD = "hostile take over"? Since then, he lumped all 3 parties as “Brutus”.

Since the fund managers continue to run this "Brutus" story that they will bring down iCAP and keep making endless allegations against COL, one of the bloggers dumbMoney can't stand it, out of "Kong Wu Ye Hei" to counter those allegations. It was like defending some strangers who choose to remain silence and suddenly being lumped as imaginary complotters. The more he explained, unfortunately, this gives the fund manager an opportunity to reinforce his story telling even more believable. To a point this why dumbMoney asked me to wake up because I was poisoned too deep being told over and over again. COL and dumbMoney are not related to each other. Now I get it!

Whenever any 1 of them making any suggestions, the fund manager will run the same story all three of them are working as 1 group of complotters again(imaginary one ya!). Now the story has expanded into 2.0 – recruit more “Brutus”.

Pity Lo who has just 22,500 shares at that time suffered so much. I will dig more of this interesting man background.

Posted by FastMoney666 > 2023-10-25 21:49 | Report Abuse

‘Not a hostile takeover’

PETALING JAYA: iCapital.biz Bhd shareholder Lo Kok Kee maintains that he is not a nominee of European hedge fund Laxey Partners and that he is acting as a “minority shareholder rights activist”. He also refuted allegations that he was part of a hostile takeover of iCapital.biz.

In an email to StarBiz, Lo said: “I am not a nominee of Laxey. I was nominated by a shareholder of the company to stand as director, not by Laxey.”

To recap, Lo was one of three new directors seeking a board representation on iCapital.biz a move which has riled its investment adviser, Tan Teng Boo.

Lo also said that StarBiz report on Nov 6 entitled “Hostile takeover?” was “misleading”, “scare-mongering” and created uncertainty in iCapital.biz share price.

He sent to StarBiz a copy of a letter from Laxey to the board of directors of iCapital.biz dated June this year, in which a request was put forward for two resolutions to be presented at the company's forthcoming AGM. (These resolutions are different from the latest resolutions put forward by Laxey in which Lo, Andrew Pegge the founder of Laxey and one Low Nyap Heng, are seeking to be made board members of iCapital.biz.)

The first resolution (from the letter) was for Pegge to be appointed as a non-independent non-executive director of iCapital.biz and the second was for the board to bring forth proposals designed to narrow the price discount to iCapital.biz's net asset value.

“This was a perfectly legitimate request from a shareholder, but it was ignored by the board of directors for reasons best known to them. Is this a hostile takeover of the company with only one director proposed?” Lo questioned.



Lo also clarified that he had no special arrangement with Laxey in relation to SGX-listed closed-end fund United International Securities (UIS). StarBiz had reported that Lo, together, with Laxey had embarked on a similar takeover move on this company last year.

“For the record, I had acquired my shares in UIS when my original investment in Overseas Union Securities (OUS) was converted into UIS shares after their merger, long before Laxey Partners came into the scene. In 1990, I had independently proposed moves to reduce the price discount of OUS, so there was no scheme or conspiracy with Laxey as you have implied.

“I was merely invited by Laxey last year to stand for election as an independent non-executive director, to represent the interests of minority shareholders, of which I am one myself, and not as a Laxey nominee.”

Lo also said that he had held the UIS shares for more than 10 years. “Would that still make me a one night stander,” he questioned, in reference to allegations that he would be taking only a short-term position in iCapital.biz.

Similarly, Lo said he was not in cohorts with Laxey with regard to action taken at two other funds in Malaysia, namely the Amanah Millenia Fund and the Amanah Harta Tanah PNB2 (AHP2).

He sent to StarBiz a notice of the EGM of Amanah Millenia Fund in 2007, which called for members' voluntary liquidation of the fund. “None of us moved the said resolution and shareholders merely exercised their rights to vote on the resolution.

“If this was a coordinated effort between myself and Laxey, then one would have to include all the other shareholders who voted in favour of the resolution too. The allegation is without basis, as I did not even vote for the resolution. In fact, I did not attend the EGM as I didn't think my vote would be necessary.”

Lo pointed out that for AHP2, Laxey was not part of the requisitionists for the EGM that sought to liquidate the fund, nor was it a significant unit-holder of the fund.

Lo, 66, was a director and shareholder of OSK & Partners Sdn Bhd, the predecessor of OSK Investment Bank Bhd, the iCapital.biz AGM notice showed.

He had also held managerial positions in MBF Corp Bhd and Malaysian International Merchant Bank Bhd and was a research officer at Kumpulan Guthrie Sdn Bhd. He is currently a director of the Esquire Kitchen group of companies. Lo owns 22,500 shares in iCapital.biz, according to the notice.

https://www.thestar.com.my/business/business-news/2012/11/09/not-a-hostile-takeover/

Posted by i3gambler > 2023-10-26 10:49 | Report Abuse

Refer to quarterly report @ 31.08.2023, which was announced yesterday.

The investment portfolio / NAV = 72.68%, the rest was Cash, I think the weight was OK.

There were 27 counters in the investment portfolio.
The top 4 counters add up already = 46.19%, I think this was no good, too heavy weight on a few counters.
There were 15 counters which the weight were less than 1% of NAV, and add up total = 6.11% only.
If I were the fund manager, I would just dispose off all these chicken feeds counters.

I really do not like the existing investment portfolio, and the discount is getting smaller to around 23%.
Buy ICAP now for what purpose?

Posted by fairplay > 2023-10-26 12:08 | Report Abuse

All awakened shareholders, please Attend AGM to look after your rights this Saturday 4 November. iCapital is not shareholder or investor friendly. Questions being submitted Online already closed 21-10-23

Posted by FastMoney666 > 2023-10-26 12:57 | Report Abuse

@i3gambler

>>>>>
I really do not like the existing investment portfolio, and the discount is getting smaller to around 23%.
Buy ICAP now for what purpose?
>>>>>>

Very good question, you see my nonsense talking correct or not ya

1. Fund manager wake up, I say let's say wake ha, stop using his golden fingers to ka ka jiao jiao, esspecially poking at old people coming to almost 80 years old, we stop ka ka jiao him, let him use his golden fingers to poke at bursa malaya-- shits turn into gold wo....NAV double, ho sei liao......walao - Jujuh ringgit, dua puluh tiga peratus discounts, ada lagi $5.39....huat lo!💰💰💰

2. keep 1 share, remember minimum 1 share ho, let's go to the AGM. AGM, AGM, AGM. la la la lah! Watchiiiiiiiing the happy show!

3. Free talks at the investor day - paid by not sure who le, CDAM or CD S/B, ah ... nevermind la, as long as it's free lunch, semua pun OK - ON liao!.

iCAP.....not income Capped. #1 in JB....Ho yeah 🙆

Posted by dumbMoney > 2023-10-26 13:30 | Report Abuse

Yes, shareholders should not miss the opportunity to hear in person for the first time why the Nobel Prize winning Dividend Irrelevance Theorem is no longer relevant from the esteemed Aussie professors. How the dividend money can increase in value going from the shareholders' left pocket to the right pocket, other than from no longer subject to the price discount, management fee and income tax, the bird in hand effects. Then shareholders are invited to put this money back in through DRIP and repeat the rinse and spin cycle all over again, like releasing their bird in hand again. Of course if shareholders were to use their dividend money and throw it into shares like Top Glove, Maybank, or visit Uncle Lim up in the mountains, then DRIP may well be the better option then.

Posted by dumbMoney > 2023-10-26 13:35 | Report Abuse

I am sure if my professor is still alive, my U mates will gladly sponsor him to fly over to KL to join in the discussions on dividend policy and defend his theorem.

Posted by FastMoney666 > 2023-10-26 13:40 | Report Abuse

@dumbMoney - your sense of humor has improved a lot! 😝✌

Posted by dumbMoney > 2023-10-26 13:50 | Report Abuse

@FastMoney Thanks for the compliment. I should congratulate you in advance for making the FBI most wanted list, haha. Your Shakespeare also very keng one.

Posted by dumbMoney > 2023-10-26 13:55 | Report Abuse

I had to take English, which included Shakespeare, in my first year in U, and that pulled down my GPA, haha.

Posted by FastMoney666 > 2023-10-26 13:57 | Report Abuse

Yaya...hiding in my cave now.....bought a lot of sardines and some cheap local subsidized rice.

Not my Shakespeare geng, I am a local graduate, very geng in copy and paste....from wikipedia but mana tau, some many people appreciate it! A bit regret -- now on #1 FBI list. 😝

Posted by FastMoney666 > 2023-10-26 14:00 | Report Abuse

@dumMoney,
>>>>>>>>>>>
I had to take English, which included Shakespeare, in my first year in U, and that pulled down my GPA, haha.

>>>>>

Don't say like that, I am super paiseh liao....hang up my keyboard😪

Posted by dumbMoney > 2023-10-26 14:21 | Report Abuse

@FastMoney, your Cantonese also very geng, know what is "Kong Wu Ye Hei", must have watched a lot of kung fu movies and TV serials like Heavenly Sword and Dragon Slaying Sabre to know such terms.

Posted by FastMoney666 > 2023-10-26 15:00 | Report Abuse

Haha! As an Asian, certain words are best to say it in Asians way -- can't find it in English. We will know exactly what it means without wasting our breath("sai hei").....Jalan jalan in Kong Wu, cari makan in Malaya needs to know a few dialects. 😂😂