Posted by newbiestock > 2013-07-24 09:06 | Report Abuse

have some face kcchongnz. how come u so MUKA TEBAL. u are a mental salesman i think ... anyhow good luck. sori to disturb u ,

Posted by Momobear > 2013-07-24 09:13 | Report Abuse

This forum is share info. All buying and selling is base on willing sell and willing buy. So, nobody is cheating here, dont blame people for your own wrong decision. If you don't like, pls don't read the post.

Posted by newbiestock > 2013-07-24 09:14 | Report Abuse

ok momobear. will do.

Posted by kcchongnz > 2013-07-24 12:05 | Report Abuse

Posted by iafx > Jul 19, 2013 12:42 PM | Report Abuse

cbip share price is weak now, this is a good chance to switch (or split) before cpo price rebound, what would be the price of cbip vs kfima when cpo finally up? cbip stands better chance to payout more div compare to kfima sliding revenue and do nothing cash, cbip share price gained proven far better than kfima over the years. yr $ yr choice!

Posted by iafx > 2013-07-24 12:11 | Report Abuse

thx, here's more info for anyone who is interested:

http://klsecompany.blogspot.com/2013/07/cbcbip.html
http://klsecompany.blogspot.com/2013/07/cbcbip575145.html

kfima holders have an option, it's their $ their choice! btw, u can use google translate if needed. happy reading! :D

Posted by kcchongnz > 2013-07-24 12:18 | Report Abuse

hey, wtf, I posted the post above to show you you have posted one at 12.42pm, and later you deleted it and replaced with another one, and then spin. Wtf you append those two links for? You understand what is in there or not. don't copy and paste lah.

Posted by FreeThink > 2013-07-24 12:56 | Report Abuse

The resentment between kc and iafx has made this forum so entertaining...: )

Posted by leviathan > 2013-07-24 15:04 | Report Abuse

free sitcom everyday , really need to make me laugh everyday meh? lol

Posted by iafx > 2013-07-24 16:15 | Report Abuse

here's more laughter from your FA idol:

Posted by kcchongnz > Jul 24, 2013 04:10 PM | Report Abuse

Some more curi curi improving your line. And have balls drop from your leaky pocket when couldn't find your golf ball.

Posted by kcchongnz > 2013-07-24 16:19 | Report Abuse

Posted by kcchongnz > Jul 24, 2013 03:20 PM | Report Abuse X

ok lah, let's talk about investing lah, iafx? Now as you can see, my portfolio is posted by Tan KW six months ago up here. They are all based on my different investing strategies, value investing, growth investing, investing in good companies. You know lah (not vsure whether you know, most likely not) those 5 yardsticks of Cold Eye, In search of excellent companies, growth investing etc. All were analyzed and written and posted in i3 for all to see. No cheating, pusing, copy and paste, bullshit or whatever. The total return of my portfolio now is 38% as computed, no bullshit one. Not sure you can comprehend my tabulation or not, again most probably not. So I won't even think of whether you can actually know how to check or not.

Not bad isn't it? 38% in six months, or annualized return of 76%, compared to about 10% of the market. So what you think? My analysis so bad meh?

So what about yours? What is your strategy in Bursa? You know what strategy I am talking about or not? Strategy of investing, or trading. Can share with us ah? Surely you have, haven't you? Or just the strategy of rumour mongering? What is your return? Nay prove like what I have?

I am sure all forumers here are eager to tap your expertise.

Posted by kcchongnz > 2013-07-24 16:20 | Report Abuse

Posted by iafx > Jul 24, 2013 03:31 PM | Report Abuse

go and ask ghost to help u lor

Posted by kcchongnz > Jul 24, 2013 03:36 PM | Report Abuse X

Oh, that is your strategy. I got it, got it. Eureka!!!!

Posted by kcchongnz > 2013-07-24 16:20 | Report Abuse

Posted by kcchongnz > Jul 24, 2013 03:53 PM | Report Abuse X

Hey, how must return did you get ah using your ghostly strategy?

Maybe I suggest you use some other better ones lah. You got any idea what kind of investing strategy is available or not? No? let me suggest to you.

High dividend yield
Value investing, low PE ratio, low P/B,
Stable earnings strategy
Invest in excellent companies
Growth investing
Contrarian strategy
Momentum strategy
Follow the experts strategy (not iafx lah of course)
Investing for long term, buy and hold
Etc

You know any of these strategies or not?
If not want to learn of not?
don't just always based on rumour mongering lah.

Posted by kcchongnz > 2013-07-24 16:21 | Report Abuse

Posted by kcchongnz > Jul 24, 2013 04:07 PM | Report Abuse X

Hohoho, I have already listed down all the available strategies for you, and offered to help you. But you still want to ask from the ghost (oop, why I talked about the same person here?).

You are like in a golf competition with me. Every time I hit the par 4 green in two, par 5 green in 3, and you struggling from hazard to hazard, then bunker to bunker. 10 strokes also could reach the green. Still say you beat me. sigh, what to say?

Posted by kcchongnz > 2013-07-24 16:22 | Report Abuse

Posted by kcchongnz > Jul 24, 2013 04:10 PM | Report Abuse X

Some more curi curi improving your lie. And have balls drop from your leaky pocket when couldn't find your golf ball.

Posted by mlg123 > 2013-07-24 16:59 | Report Abuse

kcchongz: come back again on your comment on cscsteel, what is your view if the 2Q2013 CSC eps is around 4 cents++ like 1Q2013 which make it 1H2013 earning already more than what they earned in 2012.
do you conside then CSC is a buy?

Posted by kcchongnz > 2013-07-24 17:07 | Report Abuse

mlg123, CSC Steel's operating efficiencies are very poor and it is not cheap at this price basing on its 2012 results. I did say that the first quarter 2013 appears to be very good. but I said it is still too early to say.

For me I won't invest in it. This is purely fundamental approach and I have no idea if the coming year result will improve. It must improve vastly for me to be interested.

But for its near term share price performance, I really don't know. I have much better companies to invest in.

Posted by mlg123 > 2013-07-24 21:08 | Report Abuse

kcchongnz ., i agree with your explanation, as every investors had their own set of rules.
i do not know if it is to much to ask for you to post some of the companies that you feel had better investment prospects.
thanks for sharing

Posted by kcchongnz > 2013-07-25 04:51 | Report Abuse

mlg123,
I am an individual retail investor living far away from home right now. Nobody to talk to about investing in Bursa. Luckily there is this internet thingy. But still my information is limited. My capability is also limited as I am just a retail investor, with no working experience and no friends knowledgeable in the investing industry to consult with. So I have to rely on whatever information available in the net, compile them, interpret and analyze with my limited capability. I can't spend my time researching, go to talk to management and other stakeholders of the companies I am interested in. So really I may not be the one you should be looking at. There are heaps of stock research and analysis in the market. All broker firms are bombarding investors with research and reports.

However, there are some people seeking my opinion in i3 which I try to do my best to provide them with my opinions, sincere opinions as you notice. This does take up quite a lot of time, but I am not complaining, especially i find that all of them show gratitude in some form or other. So you can see many of my opinions in i3, that is where I have posted whatever though I have on Bursa stocks. Try to read and understand, and hopefully if will find some good companies to invest in. Note the "invest" I am talking about.

Posted by David Ng > 2013-07-25 17:49 | Report Abuse

hi kcchongnz, please help to share the fair value for kfima based on the numbers that you have (and it's assumptions of course). thank you.

Posted by wtclau > 2013-07-25 18:33 | Report Abuse

Good for you, Mr Kcchongnz. I appreciate what you're doing. Thanks.

Posted by David Ng > 2013-07-25 18:37 | Report Abuse

In their AR, it's stated that they have 49k acre in Indonesia for plantation. How much of that is planted ? Anyone has the tree's profile information ?

Posted by kcchongnz > 2013-07-25 19:52 | Report Abuse

Posted by David Ng > Jul 25, 2013 05:49 PM | Report Abuse
hi kcchongnz, please help to share the fair value for kfima based on the numbers that you have (and it's assumptions of course). thank you.

Hey, David you want me to get hantam ah? Don't you notice that there are two characters have been harping on my FA, in particular Kfima; saying I tipu pusing, bullshit, copy and paste, etc; that all my shares lose money one, especially Kfima. So I angry fight and went to check the performance of my shares. Hoh, you know what? For the last 6 months my portfolio went up by an average of 38%!, or annualized 72%, as compared to 10% of KLSE. Kfima also performed better than KLSE what. But why they hantam me when the evidence shows that my shares ok what? I never talk about them only.

Now lets get back to 做功课 lei. Below is my data and assumptions for Kfima.

Inputs
Earnings before interest and taxes = 126.76
Expected growth for next 5 years = 5.0%
Expected growth after year 5 = 3%
Tax rate = 27%
Debt ratio for the firm = 2%
Cost of equity = 10.0%
Pre-tax cost of debt = 6%
Return on capital in high growth= 20%
Return on capital in stable growth = 12%

And here is the results:

Value of firm, m $ 1,134.78
Value of debt, m $ 21.60
Value of Equity = $ 1,113.18
non-operating cash $ 272.24
Investment properties $ 73.31
Mngt option $ (18.94)
Total value of equity $ 1,439.79
Less minority interest $ (372.05)
Value for equity holders $ 1,067.73
Number of shares $ 267.97
Value per share 3.98

Kfima closed at 2.09 today. So what is the margin of safety investing in Kfima now? Huge isn't it?

Now I guarantee there will fierce attack on me soon. So please prepare to defend me ah?

No just kidding. I actually very much welcome constructive criticisms. This post is for sharing and learning, not a post to entice you to buy anything.

Posted by wayne1982 > 2013-07-25 20:42 | Report Abuse

I have been eyeing it since 2010 and continue adding it in my holding. Just bought some at 2.11. If the coming financial result is good, will continue and buy again if it drops. My FREN said this is the super laggard stock in KLCi but I don mind holding since it's dividend better than fd

Posted by David Ng > 2013-07-25 20:49 | Report Abuse

hi kcchongnz,

thank you for the numbers. and as a silent reader, i say a BIG thank you for the excellent contribution to the forum.

Posted by inwest88 > 2013-07-25 21:19 | Report Abuse

kcchongnz, you have doing a wonderful job. Just ignore those who disturb you. At the end of the day, whether to buy or sell, it's up to the individual. In fact I have been eyeing K Fima for quite a while and your analysis has given me a further insight of the company - as well as confidence. The upside gain far outweighs the downside loss, so as to speak.

Posted by wm83 > 2013-07-26 04:23 | Report Abuse

@kcchongnz, i'm quite a silent reader but i thought you had a fantastic analytical skill sets. you don't need anyone to agree with you, really. i guess your obj is to spread the knowledge and hopefully someone could feedback where you could improve, that's your passion.

no time spending your time justifying it. you don't need to prove anything to anyone, after all, you don't live for anyone but the people that you deeply care for - your kids in nz and your family. the rest, really?

Posted by wm83 > 2013-07-26 04:25 | Report Abuse

@david wow, i didnt read your post, but we both said silent reader.

+99999

telepathic eh? :D

Posted by MG9231 > 2013-07-26 12:13 | Report Abuse

Kcchongnz,
I can't agreed more what wm83 has just said. you have our full support for your contrubutions in i3 forum.

Posted by chongkonghui > 2013-07-26 12:43 | Report Abuse

@KCChongNZ,

Can you drop the tax rate to 25%?
What is your Value per share now?

Posted by kcchongnz > 2013-07-26 14:01 | Report Abuse

chongkonghui, I used 27% (26.6% to be exact) is last year Kfima's tax rate. If I use 25%, the intrinsic value of Kfima is RM4.05 using the same analysis, no significant difference.

Posted by kcchongnz > 2013-07-26 14:19 | Report Abuse

Hey MG9231, my partner in Pintaras Jaya. Where have you been? Good to hear from you again.

You know ah recently a couple of forumers none stop criticizing about my FA no use lah, make people lose money lah, tipu pusing lah, bullshit lah, copy and paste lah, apa apa macham. Actually you notice I seldom talk about share price or how much I make one. So I got angry fight and I went to check the return of my portfolio put up by Tan KW 6 months ago. To my horror, my portfolio returns 38% in 6 months, or an annualized return of 72% a year, compared to the 10% of KLSE. Not bad isn't it?

Especially this stock Pintaras Jaya which we are partners in the company. This one you should know very well. You know this fellow has been hantaming me for so long, no liquidity lah, no analysts follow lah, so much of cash it hold no use lah, dividend no good lahetc. Macham macham. So I go check its long and short-term return. At 4.90+, its returns are as follows:

Period 1 year 2-year 3 year 4 year 5 year
Dividend, sen 19 15 10 12 10
Adj. Price 2.80 2.35 1.60 1.20 1.40
Total return 78.9% 113.2% 213.1% 317.5% 257.9%
CAR 78.9% 46.0% 46.3% 42.9% 29.0%
Dividend yield 6.8% 6.4% 6.3% 10.0% 7.1%
Capital gain 72.1% 39.6% 40.0% 32.9% 21.9%

You see the table. Not only the dividend yield is fantastic, all more than 6.3%, its compounded annual return also are so good that I couldn't believe it myself. If one holds it 5 years ago, the CAR is 29%. If one year ago, 79%. My goodness, KLSE only return a CAR of about 10% only.

Note the table was prepared about one and a half month ago, but as today's price, there is not much change of those figures.

Sorry ah for repeating this thingy, I think I shouldn't always be at the receiving end, should I?

Posted by yfchong > 2013-07-26 15:37 | Report Abuse

I can say good knowledge acquired fr kcchongnz, now I also buckup to read more on portfolio analysis, I do find it difficult, compare to the engineering text..... But need to read up loh, anyway it's interesting though......

Posted by kcchongnz > 2013-07-26 15:49 | Report Abuse

yfchong, no don't read portfolio analysis. That is for fund manager. More academic than practical. No use.

Just found one new book, Margin of Safety by Seth Klarman. Try that.

Posted by yfchong > 2013-07-26 15:52 | Report Abuse

Ok ok, but thks a lot can check on it....for my holiday

Posted by kcchongnz > 2013-07-26 16:18 | Report Abuse

There is one book by Pat Dorsey, "The Five Rules
for Successful Stock Investing", this is also a very good book for all levels.

Posted by fandi > 2013-08-01 14:22 | Report Abuse

Thanks KC Chong NZ for the wonderful info

Posted by yfchong > 2013-08-01 15:15 | Report Abuse

Bro KC, i am reading thru yr spreadsheet what do u mean by biological asset ??

Posted by kcchongnz > 2013-08-01 15:19 | Report Abuse

Biological assets are weapons of mass destruction used in biological warfare!

No lah, they are related to palm oil production which provides 30% of Kfima's revenue.

Posted by kcchongnz > 2013-08-02 10:50 | Report Abuse

Posted by newbiestock > Jul 23, 2013 06:28 PM | Report Abuse
sell kfima and stop listening to that conman kcchongnz with his math. some people are muka tebal get it wrong all the time still talk alot...


tapir, why you changed you nick and opinion so fast ah?

Posted by DaveSingh > Dec 14, 2012 01:56 PM | Report Abuse
yeah@kcchongnz. good observation mate..


Posted by DaveSingh > Dec 17, 2012 08:55 AM | Report Abuse
yep@Kcchongnz.. you are right.. so dont worry fandi...Kcchongnz is telling us how valuable this company is.. he has good intentions...so we got to respect him for that.. not many people here have those motives.. most here are just selfish, greedy and play or talk politics..good on you kcchongnz.. talk more about kfima...you have valuable info we all can use...thanks for sharing..

Posted by DaveSingh > Dec 17, 2012 04:23 PM | Report Abuse
if i buy at rm1.8.. and every year gives me dividend with constant increase in dividend. i can assume next year will be up too. so this year 8 cents.. next year 10 cents.. that makes WOW more than 5% yield ah??? wow.. no wander fandi wants to buy it.. ok fandi i wont promote this anymore i am out of here.. sorry MR FANDI

Posted by DaveSingh > Dec 19, 2012 12:29 PM | Report Abuse
long live KFIMA, long live KFIMA.>>>>singh has left the house..

Posted by DaveSingh > Jan 2, 2013 03:47 PM | Report Abuse
now this is a good stock.. buy all at rm1.79 below...

Posted by DaveSingh > Jan 3, 2013 07:45 PM | Report Abuse
dont speculate short term with KFIMA... to go up there needs to be retail investors.. those investors are takut now... so chill... dont be in a hurry...KFIMA is a good counter long term with good dividends...dont talk too much about numbers here makes the stock look desperate...

Posted by DaveSingh > Jan 3, 2013 07:58 PM | Report Abuse
THIS STOCK is not my baby batukawan or united plantations... but its a great stock nonetheless....those who have these stocks will know what i mean...

Posted by DaveSingh > Jan 7, 2013 05:48 PM | Report Abuse
yes according to experts here... KFIMA is going to the skies.. we all should invest in this stock... wow amazing analysis here...

Posted by DaveSingh > Jan 7, 2013 05:58 PM | Report Abuse
KFIMA experts are wise indeed... so listen to them advice buy on KFIMA now...

Posted by newbiestock > 2013-08-02 10:56 | Report Abuse

what? u are also mental ke. like KCLOH. trying to covers u tipu with more tipu ah? KCCHONGNZ i can be anyone u want me to be OK,

Posted by newbiestock > 2013-08-02 10:57 | Report Abuse

first u said i was aifx and now davesing ah? who next ler

Posted by kcchongnz > 2013-08-02 10:58 | Report Abuse

No no no, I never said you are iafx. but you two sure are a good pair.

Posted by newbiestock > 2013-08-02 10:59 | Report Abuse

kcchongnz tipu lagi. bad la u. like to tipu. when i first came here u said i was aifx using another nick to attack u. KCCHONGNZ.. u are a real tipu. chief.

Posted by newbiestock > 2013-08-02 11:01 |

Post removed.Why?

Posted by newbiestock > 2013-08-02 11:02 | Report Abuse

KCCHONGNZ u and KCLOH are just mad and stewpead. but u think so smart. that is why i am after u. because u two are real stewpead.

Posted by newbiestock > 2013-08-02 11:03 | Report Abuse

who are u and kcloh going to say i am next? fat cat OTD who ler??? i wonder.. LOLZZ

Posted by kcchongnz > 2013-08-02 11:03 | Report Abuse

Where did I say you are iafx? Show.

But you seem to admit that you are that person who praised me last time as shown in my above post.

Posted by newbiestock > 2013-08-02 11:04 | Report Abuse

KCCHONGNZ confused about people as stocks. what a loser

Posted by KC Loh > 2013-08-02 11:41 | Report Abuse

I also said you are a crossbred tapir! Why never raise that? LoLFl

Posted by yfchong > 2013-08-02 13:30 | Report Abuse

Bro kcchongnz, fr your worksheet how does the operating expenses derrived ? (From IS worksheet), after reading thru the 2012 KFima annual audited report. Appreciate to give some pointers. Thks yf