Posted by hooi > 2013-08-23 08:11 | Report Abuse

Icap give special dividend to utilise the tax credits under the Section 108 of the Income Tax Act, 1967 which will expire on 31 December 2013. Inari listed on ACE Market under Technology may give you high return but not suitable for conservative investor.

Posted by PureBear > 2013-09-01 12:35 | Report Abuse

The oracle of Bursa has spoken.

----------------------------
http://www.thestar.com.my/Business/Business-News/2013/08/31/Opportunity-in-market-selldown-Analysts-say-Malaysia-economy-is-resilient-and-will-be-able-to-weath.aspx

Capital Dynamics managing director Tan Teng Boo sees opportunity in the recent market selldown. His portfolio has been sitting on 50% cash since the beginning of the year.

He is not buying yet as he feels there is still some more downside in the financial markets.
----------------------------

Of all the fund managers interviewed, TTB is the most bearish!

He is the king of bears now, I have to pay my respect to him, Oh bow to my king ... :D

Posted by anbz > 2013-09-19 17:25 | Report Abuse

well purebear...it's very2 clear and manifest...that icap has been wrong for 2013...extremely in error..haha...and why the hell u want to bow to your not so clever king?

Posted by PureBear > 2013-09-20 23:02 | Report Abuse

Anbz, don't you have any sense of humour? My comment above was meant to be sarcastic. :D

Posted by Alex Chong > 2013-10-07 16:08 | Report Abuse

PureBear, TTB is always the king, no doubt. Forget about those innocent comment.

Posted by PureBear > 2013-10-08 13:03 | Report Abuse

Alex Chong, welcome to the Bears Club, let's honour our king of bears, BOW 1, BOW 2, BOW 3. Hehehe.

Posted by hepitrade > 2013-10-15 22:51 | Report Abuse

Hooi... Plz comment the padini counter.. Everyone is waiting for u

Posted by lmseng > 2013-10-24 09:58 | Report Abuse

to the blind-failthful supporter of iCap, wake up.. the announcements below are self-explanatory
1) assets value as at 17/10/2012: On behalf of the Board of icapital.biz Berhad, we wish to announce that the Net Asset Value per share of icapital.biz Berhad as at 17 October 2012 was RM2.91.

2) assets value as at 16/10/13: On behalf of the Board of icapital.biz Berhad, we wish to announce that the Net Asset Value per share of icapital.biz Berhad as at 16 October 2013 was RM2.93.

Posted by kcchongnz > 2013-10-24 10:02 | Report Abuse

You have not included the dividend payment of 9 sen though.

Posted by calvintaneng > 2013-10-24 10:41 | Report Abuse

Dear Friends at I Capital. Biz,

I believe Tan Teng Boo is right regarding the fact that Current Value For Stocks in Bursa is on the high side. The Tan Teng Boo I know today is so different from the Tan Teng Boo before the Asian Financial Crisis when KLSE crashed from a High of 1332 points to the lowest ever at 262 points.

In those days of the GOGO Years of KLSE 1993 to 1996, Tan Teng Boo appeared on TV 3 & recommended the punting Highly Inflated 2nd Board. Many got burnt in the Aftermath of the BIG COLLAPSE.

When my friend, the Champion Johor Investor bought 1 Cap Biz at par RM1.00 when Tan Teng Boo first launched it, I was very sceptical because "I thought TTB" was not a fundamental Investor, but a Gambler.
Of course I am proven wrong. His conservative and defensive approach has caused 1 Cap Biz to double in price and with the added bonus of dividends. Well done, TTB!

Now Dear Friends,

If you want Another Defensive & Very Conservative Long Long Term Investment With GREAT POTENTIAL FOR UPSIDE, I would like to recommend you a counter called:

PAN MALAYSIA CORPORATION (4081)

PM Corp has HIGH NTA, ALMOST DEBT FREE, VERY CASH RICH & A HIGHLY DEFENSIVE BUSINESS IN CHOCOLATE MANUFACTURING.

ABOVE ALL, THE COMPANY IS UNLOCKING VALUE NOW BY GIVING A

CASH PAY OUT SOON!


Come Over to PM CORP FORUM. READ CAREFULLY ALL THE 1,000 OVER COMMENTS.

IT MAY TURN OUT TO BE ANOTHER 1 CAP BIZ. OR MIGHT EVEN EXCEL IT!

CHECK IT OUT NOW!! YOU WILL BE GLAD YOU DID!!

Posted by PureBear > 2013-10-29 08:02 | Report Abuse

黄金十年：再来一次
http://www.nanyang.com/node/574927?tid=687

上周五，健诚还是去了资本投资（ICAP）的股东大会。到了才发现许多股友也是舍财政预算案而来这里。

预算案这天之后自然有专人逐点分析，而资本投资的大会可能连个简报也为之厥如，所以还是亲身来体验好。

听基金经理在台上一直说马股太贵了，但其实他也是中立而已。手上一半是现金一半是股票，不是中立是什么？

太贵的话，卖掉手中的股票呀；没理由马股太贵而手上持持的却叫便宜货。

不然，觉得基金的股票组合还可以，就平均买入组合股票，长期把持高现金，有偷懒吃老米之嫌，对支付管管理费用的股东不大公平。

资金，要工作才有用（Money at work）；呆滞不动（Idle）对股东回酬可是负面的。

Posted by PureBear > 2013-11-06 15:43 | Report Abuse

Good to know someone 'challenge' TTB during the AGM :D

玉楼金阙：噪音和异见●陈金阙
http://www.nanyang.com/node/576821?tid=462

你知道甚么是偶象崇拜吗？就好比你是天王刘德华的粉丝，如果我当头当脸的对着你诉说刘天王的不是，你不怒言相向、饱以老拳才怪。

所以，对偶象的崇拜，有时就如宗教的狂热，政治的同一鼻孔出气，不可以常理来推断；遇到这些人，如果道不同不相为谋，还是敬而远之的好。

不过，有时难免狭路相逢，在窄小的空间相遇，怎样和睦相处，颇考彼此间的智慧。

两周前刚过的资本投资（ICAP），就宛若这个情形，出席者三千人，怕不有二千八百是陈鼎武先生的忠诚支持者。

疑问当噪音太偏执

因此呢，稍有不同的声音漂在空中略久，就会引来不耐烦的嘘声。不过，所谓不同的声音，我们得分清两种，一种是噪音（NOISE），另一种叫做异见（DIFFERENT OPINION），如果一味把所有疑问当作噪音，未免有失偏执之嫌。

所谓忠言逆耳，通常异见之声，甚是难听，不过如果只听见阿谀奉承，赞美之声不绝于耳，就要当心了。

我们觉得，资本投资的股东大会里，应该多一点那位女股东的声音。她是相当不客气，或者该说，相当不识趣的。

当大家快快赶完股东会议，听陈鼎武先生的市场展望听得如痴如醉时，她劈头一句公司这几年来的表现其实不如所呈献的好，真是扫兴。

当陈鼎武先生列举美国种种的忧虑，却又说其实本基金只能投资马股，美国一切与本地无甚关连，她又横里杀出一句：那你谈这么多世界经济干甚么，更是气煞陈老，也犯了大忌，她不知道在场有几多人是千里迢迢来此求经、一沐甘露的！

于是，两者的对话，虽然“火花”四溅，但就好象平行线一样，没有交叉点，理不出一个所以然来，难怪她会认为陈老回避她的问题。

我们觉得，她应该不是新股上市时（IPO）就持有资本投资，不然应该很了解股东大会的进行方式。

聆听异见去除噪音

但是，半途加入的股东，自然有她一套看法，说不定在公司高价时（约2.65令吉）买入，现在还亏着呢，自有一番苦水倾吐。我们应该欢迎她加入这个大家庭，听听她的意见（异见），以集思广益，异中求同。

在场还有另外一把不同的声音，似被其他声浪盖掉。那是出现在当陈鼎武先生畅谈他的选股标准，并非用一般的本益比而已。他还举例说，选中的股票如果目标价是10令吉，他可能在5令吉才出手，那么就算股票跌至2令吉，因为安全边际（Margin of Safety）的关系，他不至于过于失算。

言下之意，马股的估值太贵了，目前大多介于8至9令吉，甚至高于10令吉，很难买到好货，所以他情愿持有2亿现金，等待机会。

那位男士适时问道，资本投资组合中有两只股是处于亏损的，即东合资源（TONG HER）和马熔锡机构（MSC），以陈鼎武先生的谨慎选股方式，是不是更应逢低买进呢？

很可惜，这又是个没有交流的结局，陈老只是以他可能保持不变、增持或减持，避重就轻的带过。

所谓一种米养百种人，资本投资不是一个粉丝俱乐部，既然是间上市公司，就无可避免的要面对许多不一样的股东，赞同陈老的投资方式有之，认为近几年公司表现不佳一样有之；关注会议程序有之，不喜欢听陈老的经济展望亦有之。

概括一句，爱之越深，责之越切，同气连枝，股东没有不希望公司表现好的，董事部和陈老应有纳百流于大川之胸襟，聆听异见，去除噪音。

公司表现好，异见自会成为一致的意见，噪音也自动消音。

Posted by benson911 > 2014-03-15 23:16 | Report Abuse

From 14 March 2013 ( NAV RM2.94) to 13 March 2014 ( NAV RM 3.03),the gain just around 3% while KLCI index performance far better than this ICAP. This most probably due to down-trending of ICAP's Parkson.

Posted by hooi > 2014-03-16 22:22 | Report Abuse

From 16 March 2006 ( NAV RM1.09) to 13 March 2014 (NAV RM 3.03), ICAP performance far better than KLCI index.

Posted by Marvyn Choong > 2014-03-26 14:26 | Report Abuse

Hooi, I agree with u. But, Icap share price is no where near RM3.
Unless Icap plans to do share buyback or liquidate the fund and refunds to u, the NAV have no meaning to minority shareholders.

Posted by hooi > 2014-03-26 14:33 | Report Abuse

If market crash in second or third qtr 2014,...

Posted by stockoperator > 2014-04-11 19:06 | Report Abuse

MR Tan, market has amazing power of discounting at least 30% of your cash on hand as you always keep minimum 30% cash on hand for the past 10 years. Now you keep 50% in cash so RM1.50 cash x 50%=RM0.75 Does it explain the DISCOUNT?

Posted by stockoperator > 2014-04-12 00:02 | Report Abuse

MR Tan, during your funds first inception we have high expectation and expect our funds to be fully invested as we believe your funds will outperform the market at all times. We even give you 20% premium until 2008 as after the crisis you have been sleeping and Not awaking yet. Why good times 30% cash? And Now 50% cash? I am OUT of your funds forever as this is an opportunity cost for me to invest in other good company. I Only regret that I did not do it sooner.

Posted by stockoperator > 2014-04-12 00:33 | Report Abuse

You claim to be independent funds manager and applying patented ELECTRIC investment strategy until you get ELECTRIC SHOCKED yourself ya? But what you do is listen and apply all the Macro News of Boom and BUst, Dont you trust your company can survive all the Boom and Bust? How much can we lost in Bust you tell me? We accept 20% loss in a year. Is it Not normal? Those who cannot stand a 20% loss should not even be in a market LIKE YOU.

Posted by kcchongnz > 2014-04-12 10:46 | Report Abuse

It is a big failure for market timers for the last 5 years. It has been proven again and again, it is hard to predict the macroeconomic and political thingies.

Posted by stockoperator > 2014-04-12 20:57 | Report Abuse

KC, market is exercising its amazing power again to WEED OUT those unrealistic high growth company. Nonetheless, your portfolio will be doing well again and again and outperforming the market. That is my TRUST. Keep UP the Good Work ya.

Posted by stockoperator > 2014-04-12 21:08 | Report Abuse

After this round of market differentiating exercise of Weeding out those Artificial and Unrealistic High Growth Company, those company with Deep value will Stand Proud and Tall.

Posted by gohku > 2014-04-13 11:28 | Report Abuse

MR Tan will be in trouble this year bcos of City of London will do something this yr, a high chance they may influence the direction or liquidate the fund.

Posted by calvintaneng > 2014-04-13 11:34 | Report Abuse

For A Better Performing Counter Switch ICapBiz To MP Corp Now!

Posted by stockoperator > 2014-04-13 12:22 | Report Abuse

No speculation On Reverse TakeOver/Management Buyout/Privatisation/revised of Investment Value/revised of NTA/Entry of White Knight/Even Merging and Acquisition.

Posted by stockoperator > 2014-04-13 12:27 | Report Abuse

Not interested as well in Bonus Issue/Share Split/Right Issue/Share Consolidation/Capital Repayment/Special Dividend as well.

Posted by stockoperator > 2014-04-13 12:43 | Report Abuse

well, i am happy to look at company with 10 year track record 2003-2013 which is better than icap.

Posted by calvintaneng > 2014-04-13 12:56 | Report Abuse

For Pure Graham Net Net Value Investors

These Things Do Not Add Value

1) Share Split
2) Bonus Issue
3) Merger & Acquisition
4) White Knight
5) Dividend
6) Special Dividend
7) Capital Repayment
8) Share Consolidation
9) Company Share Buy Back
10) Director/Insider Buying
11) Right Issue


NO! NO! NO! NONE OF THESE ADD REAL VALUE

REAL VALUE IS ALREADY FACTORED INTO THE BUYING PROCESS WHEN YOU UNDERSTAND ITS FUNDAMENTAL INTRINSIC NATURE.

VALUE INVESTORS ALREADY MADE MONEY BUYING INTO DEEPLY UNDERVALUED SHARES.

To Gamblers/Punters/Short Term Players They Call this "Value Trap"

SINCE THE SUPER RICH INVEST FOR FOREVER - TIME IS THE ESSENCE

IF THEY DON'T SEE VALUE UNLOCK NOW THEY LEAVE IT AS AN INHERITANCE TO THEIR CHILDREN'S CHILDREN!

Posted by stockoperator > 2014-04-13 12:59 | Report Abuse

if Not, lets see if there is any company will outperform Icap in the next 10 years. By the way, I an thankful for the above recommendation.

Posted by bohmiah > 2014-04-14 20:06 | Report Abuse

Shouldn't ICAP just do a share buyback if Price < NAV and sell when Price > NAV like someone mentioned before? Then the price will be trading at the fair value and Mr Tan doesn't need to worry of another take-over / liquidation issue and just concentrating in managing the fund :)

Posted by stockoperator > 2014-04-15 10:54 | Report Abuse

my Dear, the purpose of Icap listing is for General Public to participate in its funds growth and Long term return. If the response is not good, MR TTB should examine its funds operation first and understand the market perception first.

Posted by stockoperator > 2014-04-15 11:02 | Report Abuse

Buyback is shortCut solution. But where is his reputation going to be if he did that?

Posted by stockoperator > 2014-04-15 22:01 | Report Abuse

Well, let me tell MR Tan why he got it wrong this time and most people got it wrong during this recession is because they are not Businessman and are not thinking on business perspective.

1) First they got the macro-picture right which is Not good. In this case because of 2008 financial crisis. The repercussion could be at least 5 years. They got it perfectly right. And what they don't expect is the economy bounces back faster than they expected. Why? How? There are evidence everywhere from 2009 onwards that so many Business is still not doing goods. How can you say economy is doing great?

So here Mr Tan and everybody are correct.

2) The answer is that the corporate cash level is HIGH enough to weed out every small and medium Business/competitors on the street and Now is the opportunity. At corporate level they saw this is an opportunity to do so and expand on every boundaries because the small Boys are at their weakest moments as they could not access to credits. And tell me who has the access to the credits? Small Boy or Big Boys?

Remember this is the Corporate World where WINNERS take ALL. SO that explains why 30 Dow Jones components and 30 KLCI stock components are doing greater than before BUT NOT THE SMALL BOYS.

Posted by stockoperator > 2014-04-15 22:10 | Report Abuse

REMEMBER everybody are virtually and literally on SHELL SHOCKED after 2008-2009.REMEMBER CITIBank needs to be bailed out? IT must be close to the end of the World, right?

WELL, everyboy is panics and I decided to go on Long Holidays as well. BUT NOT THE CORPORATE RAIDERS. THEY TAKE THIS opportunity to seize the World.

Posted by stockoperator > 2014-04-15 22:32 | Report Abuse

AT corporate level the cash is HIGH and healthy at that time, so YTL has nothing to BUY at that time as well and until Now. YTL is still waiting like forever. One is asking Why? One is asking How?

Posted by stockoperator > 2014-04-24 10:43 | Report Abuse

Though the 2008-2009 financial crisis is saved by corporate abundance cash holdings and central bank further easing, the economy growth nowadays may be hampered by Lots of corporate unwillingness to spend their cash holdings again except meaningless share buyback which will not improve their core business. Take a look at cash pile of Apple, Icap, FimaCorp, Pintaras, Keck Seng, YTL and son on. If they are NOT spending, then the stagnant growth is self fulfilling.

Posted by stockoperator > 2014-04-24 10:47 | Report Abuse

Forget to include Ayam Tua's Hexza on the above.

Posted by stockoperator > 2014-04-24 11:30 | Report Abuse

Lots of minority shareholder are all waiting for their Payday to ease their living expenses by corporate generous handout IF they are NOT using the money Instead every time corporate use the excuse of Buyback to enhance profit Ratio. Or they use company money for other investment for might-be/very-likely personal gain.

That must be a Group protesting to this.

When in needs of expansion the corporate can opt for borrowing/right issues/private placement etc, right?

Look at what Keck Seng has just done, that is Unacceptable.

Posted by sosfinance > 2014-04-29 23:59 | Report Abuse

The large discount of market price and the NAV for such a long time does not make logical sense. It is like, say COMPANY A, bought 2 listed companies, worth RM200 million, while the share price of COMPANY A market cap is only RM140m. A huge discount.

Normally, for a Closed End Funds, they trade at a discount during down market (look at our CI is historical high) and trade at a premium when market is reaching its peak.

That explains why the market is NEVER efficient.

Posted by stockoperator > 2014-05-02 13:57 | Report Abuse

My Very Dear Finance Expert: The situation is like this. Company A bought a lot of listed company worth Rm150mil and another Rm150 in cash. So the total worth of investment plus cash on hand is Rm300mil. But market decides to give Only Rm240mil as Market Value which is RM150mil of investment value plus RM90million of which is 40% of Future Discounted Cash Value.

Posted by stockoperator > 2014-05-02 14:08 | Report Abuse

Nobody thought that Future Discounted Cash Value could be Negative ya? Well this One is better than Market Efficient theory.

Posted by johnny cash > 2014-05-05 18:48 | Report Abuse

ICapital.biz (ICAP MK)
Technical BUY with +10.7% potential return
Last price : RM2.53
Target Price : RM2.70, RM2.80
Support : RM2.44
Stop-loss: RM2.43
BUY with a target price of RM2.80 with stop
loss placed below RM2.43. ICAP's share price
surged past the strong resistance of RM2.44
(now support) on 16 Apr 14 to hit a new high of
RM2.52 before staging a "return move" to the
initial level of RM2.44. However, a rebound
afterward followed by a breach above the
recent high of RM2.52 last Friday has
confirmed a breakout from the classical "1,2,3
formation". Given the higher trading volume
recorded on the back of a positive reading from
both MACD and Stochastic, we opine that the
share price is ready to resume its upward
movement in the near term. Given the lack of
resistance as ICAP is trading in new territory,
we expect the share price to rise towards the
1.61x Fibonacci extension level of RM2.80
over the medium term.

Posted by stockoperator > 2014-05-06 15:39 | Report Abuse

Good lah some good return for faithful ICap holder. I never wish for bad things to happen.

Posted by pjtang13 > 2014-05-13 03:48 | Report Abuse

Looks like it is moving, went up 7 sen today!!!

Posted by sosfinance > 2014-05-13 18:24 | Report Abuse

@stockoperator, how to you explain when icap trade at a premium of 20%, 70% invested, 30% cash? So, you going to call it Future Premium Cash Value? thanks for the joke. lmao

Posted by benson911 > 2014-05-21 17:47 | Report Abuse

Icap's Parkson dropn from RM6 to RM2.7 now................If not, Icap Price sure more than RM 3 now....

Posted by chang0509 > 2014-06-03 20:48 | Report Abuse

Anyone know what is the stock portfolio hold by icap now? Any changes in shareholding?

Posted by stockoperator > 2014-06-04 11:51 | Report Abuse

I forget to give credit to Mr TTB and team good decision to take profit on PetDag at the right timing and give dividend to shareholders. Good job.

Posted by hooi > 2014-06-04 14:23 | Report Abuse

Icap won't give dividend except special dividend!

Posted by stockoperator > 2014-06-05 13:49 | Report Abuse

It was wrong of me to comment on different investment style.