Posted by meiling0809 > 2018-02-23 16:24 | Report Abuse

Investing.com recommends "Strong Sell" !!!!!
the king of rubbish !!!!!!

Posted by LaoTzeAhSir > 2018-02-23 21:02 |

Post removed.Why?

Posted by Jun Yu > 2018-02-24 20:29 | Report Abuse

still holding 7xxxx unit bro

Posted by DroidnPlay > 2018-02-26 09:12 | Report Abuse

If you don like it, pls sell it.

Posted by meiling0809 > 2018-02-27 15:57 | Report Abuse

stupid counter !!!!
super stupid !!!!
technical indicator - strong sell !!!!!!
CCB !!!!!

https://www.investing.com/equities/rce-capital-berhad

Posted by LaoTzeAhSir > 2018-02-27 18:29 | Report Abuse

what is technical indicator? can eat?

Posted by calvintaneng > 2018-02-28 11:28 | Report Abuse

How come John Choivo missed RceCap at 27.5 sen when it is giving 7.5 sen cash back? And Tan Sri Hashim of AmBank also buying?

Now too high to chase lah

Posted by calvintaneng > 2018-02-28 11:47 | Report Abuse

jOHN CHOIVO

SEE MY POST ON JAN 2014

Posted by calvintaneng > Jan 8, 2014 10:27 AM | Report Abuse X

ycl4226,

Rcecap belongs to AMINVESTMENT Bank. It Has A Forward P/E of 7.5. Trading at a 50% discount to NTA. Gives a yearly 15% dividend. And Company exercise consistent share buyback at 26.5 cts to 27 cents.

With the recent price rise of petrol, sugar, toll rates, GST and electricity tariff many people's finances will be squeezed. Many will find it hard to make ends meet in tough times.
So pawn shops & Ah Longs should proliferate.

One legalised Ah Long is Rcecap. Rcecap like MBSB gives loans at higher rates. In Rcecap case it gives loan mostly to Govt Servants. And payment is by monthly salary deduction.
Under these circumstances I think Rcecap should do well

Best Regards,

Calvin Tan from PM Corp & MUI Berhad Forums


WHEN RCECAP WAS 27 SEN THERE WAS 50% DISCOUNT TO NTA AS MARGIN OF SAFETY

DIDN'T SIFU BEN GRAHAM TOLD ALL ABOUT THE REQUIRED MARGIN OF SAFETY?

SO NOW RCECAP HAS GROWTH BUT NO MARGIN OF SAFETY.

JUST IN CASE GOVT CHANGE RULES AND IMPOSE RESTRAIN FOR GOVT SERVANTS BORROWING TOO EXCESSIVE MONIES THEY CANNOT REPAY?

THEN RCECAP HOW?

EVEN GREAT SPECULATOR JESSE LIVERMORE FAILED BECAUSE US GOVT CHANGED THE RULES AFTER THE 1929 MARKET CRASH

JESSE LIVERMORE MADE USD1 MILLIONS SHORTING DOW ON OCT 29TH 1929 COLLAPSE

BUT EVEN HE LOST ALL WHEN RULES WERE CHANGED

SO REMEMBER SIFU WORDS

NEVER TO LOSE MONEY?

Posted by Jon Choivo > 2018-02-28 12:11 | Report Abuse

Because back then, jon choivo not yet start investing.Hahahahaha

Is it too high?

https://klse.i3investor.com/blogs/PilosopoCapital/142803.jsp

Based on my analysis, i don't think so. Let me know what i missed out in my analysis.

There is margin of safety in terms of NTA, earnings, business etc.

Munger said this once, berkshire made more from See's candy a company he paid 2x book value, than a retailer berkshire paid below liquidation value for.

Not everything of value is measurable. And not everything that can be measured is of value.

Look at puncak, i think its still cheap, but does not seem cheaper than last i saw 6 months back despite price dropping. Why? Well that beautiful more than 1 billion in cash, so much of it disappear into buying mediocre assets at somewhat inflated prices.



Posted by calvintaneng > Feb 28, 2018 11:28 AM | Report Abuse

How come John Choivo missed RceCap at 27.5 sen when it is giving 7.5 sen cash back? And Tan Sri Hashim of AmBank also buying?

Now too high to chase lah

Posted by slts > 2018-03-01 11:23 | Report Abuse

y talk history, grandpa also know. should talk
future where price heading

Posted by Jon Choivo > 2018-03-01 14:16 | Report Abuse

No idea where price heading. I know where business is heading. Bought more today. :)


Posted by slts > Mar 1, 2018 11:23 AM | Report Abuse

y talk history, grandpa also know. should talk
future where price heading

Posted by asdf > 2018-03-04 05:25 | Report Abuse

3rd qtr report ended 31-12-17
non-performing loans= RM 65,680k
That is high

Posted by Jon Choivo > 2018-03-05 11:04 | Report Abuse

Current results have already fully impaired that.

asdf 3rd qtr report ended 31-12-17
non-performing loans= RM 65,680k
That is high
04/03/2018 05:25

Posted by asdf > 2018-03-05 13:05 | Report Abuse

Thanks Jon

If exercise due diligence performance could be better.
Or this is an acceptable figure for this industry.
I am no finance man.

Posted by Jon Choivo > 2018-03-05 13:47 | Report Abuse

Banks average interest charged is 5-6%

RCE and AEONCR charges 20% effective interest rate. They loan to higher risk groups, so at interest rates will be higher, and naturally impairment rates will also be higher.

The thing you should be looking out for is the impairment rate over the total receivables.

Of course, it can always be better.

For banking stocks, a lot depends on the management. So one thing i keep track off is the management comments and how they say and see things.



asdf Thanks Jon

If exercise due diligence performance could be better.
Or this is an acceptable figure for this industry.
I am no finance man.
05/03/2018 13:05

Posted by meiling0809 > 2018-03-05 13:57 | Report Abuse

rubbish !
simply is a big rubbish !
worse than arsene wenger !

Posted by Jon Choivo > 2018-03-05 14:35 | Report Abuse

I agree, i hope like arsenal. For 14 years, the share price never move. But fundamentals improve!


Posted by meiling0809 > Mar 5, 2018 01:57 PM | Report Abuse

rubbish !
simply is a big rubbish !
worse than arsene wenger !

Posted by tslee > 2018-03-05 15:00 | Report Abuse

Why RCECAP has low P/E of 5-7 and good fundamental but share price can't go up?
1) Company has less free float in market. (3 shareholders holding 60.82% of total shares of the company & 169 shareholders holding 81% total shares, which mean only 19% free float in the market in accordance to Annual Report 2017).
2) Deteriorating expected loan approval rate in Malaysia
3) Higher impairment loss due to MFRS 9 on FY2019 for RCECAP. Kindly refer to " https://www.pwc.com/my/en/assets/press/170911-theedge-banks-brace-for-mfrs9-impact.pdf ", Investor may overreact on this issue.
3) Company keep issuing the ESOS to their employee with lower price in past few year.
4) Lower predictability of the operation in banking industry compared to manufacturing, construction, property development and etc.
5) This counter has weak investor sentiment.
6) The recent increase in OPR by bank negara bring minimum benefit to RCECAP.

Posted by Outliar > 2018-03-05 15:01 | Report Abuse

I think you will find that Arsenal's share price has moved up but fundamentals have declined

Posted by tslee > 2018-03-05 15:06 | Report Abuse

If the coming soon quarter result came out to be good, the share price in the first day will be shot up and subsequently those who trapped for too long will start to take profit or cut loss and pushing down the share price.. You can refer to the price chart and checked to the quarter result announcement date. However if the coming soon quarter result came out is lower than market expectation, good luck and have fun.

Posted by tslee > 2018-03-05 15:08 | Report Abuse

I didn't recommend a buy or sell recommendation on this stock but just share my investing experience in RCECAP. You might refer to @Jon Choivo research as he did a wonderful job on evaluating this counter.

Posted by Jon Choivo > 2018-03-05 15:28 | Report Abuse

Hmm, i would think it has higher predictability.

If i borrow you money and have monthly repayment, every month you must pay me, and every month i can record profit.

Like i always say, if my analysis is wholly undone just by one bad quarter, i must have really fucked up. Im analyzing it as a business.

I am ok with one not so bad quarter. If there is a really bad quarter, i'll need to know why. And if it changes any of the fundamentals.

On MFRS9, yeah, this is on my mind. But this will affect banks alot more. Because banks have alot of assets with ZERO impairment, and MFRS9 will require some to be made. I doubt RCECAP have zero impairment on any of its assets, its general impairment should cover it. The quarterly will be restated anyway.

Not happy with the ESOS as well. But its not excessive. So im not too worried.

Posted by asdf > 2018-03-05 15:59 | Report Abuse

Thanks again Jon

Posted by Jon Choivo > 2018-03-05 16:36 | Report Abuse

Anyway, i really cukup d. 25% holding. I also scared d. Ill only buy more if tmr someone give me 1million, or i find a job at RCECAP so i can properly take care of my investment hahaha.

The last few days, have given a lot of discounts. Personally, KSL looks very very interesting.

Posted by meiling0809 > 2018-03-06 12:32 | Report Abuse

this is really the rubbish !
touch 1.40 !
how low can they go !

Posted by DaitoRyu > 2018-03-06 14:35 | Report Abuse

Not good, support well broken, however, it won't take much for it to bounce back.

Posted by meiling0809 > 2018-03-07 10:17 | Report Abuse

support 1.40 is broken
is time to say bye bye

Posted by Jun Yu > 2018-03-07 10:47 | Report Abuse

RM1400, can buy 1000 unit of RCECAP, with EPS around 25sen,

1000*0.25=RM250

RM250/RM1400=17.85%

Posted by asdf > 2018-03-07 11:38 | Report Abuse

Now 1.38

Posted by tslee > 2018-03-07 12:10 | Report Abuse

52 weeks low RM 1.38

Posted by Nottoogreedy > 2018-03-07 12:39 | Report Abuse

Bye bye meiling0809 hope nvr see u again in rce forum and wish you invest better counter next time

Posted by Jon Choivo > 2018-03-07 13:57 | Report Abuse

Wow.

As i look at this. I am reminded by an account of Seth Klarman during the 2008 crisis. Of course, this is still nothing compared to the drop and turmoil of those days.

He said during the crisis. He would find companies he consider fantastic, at unbelievable prices (very close to Net Nets). But when he buys. It just kept dropping. Every single time he buys, it drops by 5% or so the next day.

And he was buying hundreds or millions to almost a billion each day.

Every day, the prices just kept dropping with no end in sight and he could barely sleep. He would just constantly flip through the annual reports and other pieces of his research again and again. Wondering if he is wrong or if he missed out on something major somewhere. They are days when he even slept with the report. It came to a point where the annual report was breaking apart with pages falling out.

I think its time for me to start sleeping with RCECAPs report as well. I'll be buying more tmr.

Posted by trulyinvest > 2018-03-07 14:00 | Report Abuse

luckily sold all at 1.50 for all the capital gain and previous handsome dividen

Posted by Whey Whey > 2018-03-07 19:07 | Report Abuse

I keep looking at their quarterly reports and annual report and I don't see any problem in fact it was fantastic with keep growing revenues and profit margin so i really have no idea why the price is keep on falling...

Posted by issac99289928 > 2018-03-07 21:44 | Report Abuse

with pe ratio of less than 6 and good business , the share will lift off soon.

Posted by Jun Yu > 2018-03-08 10:32 | Report Abuse

sleeping with RCECAPs report +1 XD

Posted by Jun Yu > 2018-03-08 10:33 | Report Abuse

If the stock market is rational, or human is rational, we have no chance to buy cheap n good stock.
Because good stock wont be cheap any more...

Posted by DroidnPlay > 2018-03-08 12:36 | Report Abuse

Precisely, fundamentals still intact, continuing profit where servants still paying the loan...ony one threat MFRS but I dono how big/small/any impact, y sell down in panic for few qr alr....

Posted by DroidnPlay > 2018-03-08 12:41 | Report Abuse

one thing puzzle me for quite some time, everyday sell down,who want to pick the falling knife, in such a bad sentiment market,some counters you could see ppl bought at large volume, logically ppl will wait n c but instead of that some ppl just keep buying.

Posted by Jon Choivo > 2018-03-08 14:02 | Report Abuse

I pick up loh.

If you buy RM1 for 50 sen. So what if the price drops. Just keep buying. At the end of the day you are still buying RM1 for 50 sen or less. Instant profit.

Question is this. How sure are you that its really worth RM1 and not RM0.5? That's the only thing i'm worried about. :)

Posted by spectre007 > 2018-03-08 16:16 | Report Abuse

52 week low.. definitely can enter and keep. Undervalued. However if u ask me about the company, it is run by a group of old timers who have been there for 20-30 years who are not susceptible to change. That's why they are forever like that. Old fashioned business with no innovation and no change for the past 20- 30 years. New blood who join the company will leave in 1 or 2 years time coz can't cope with Chinamen mindset. Perhaps this lack of change and innovation is stalling the price as we can't see any growth nor any change...

Posted by Jon Choivo > 2018-03-08 17:54 | Report Abuse

Are you describing public bank? ;)


spectre007 52 week low.. definitely can enter and keep. Undervalued. However if u ask me about the company, it is run by a group of old timers who have been there for 20-30 years who are not susceptible to change. That's why they are forever like that. Old fashioned business with no innovation and no change for the past 20- 30 years. New blood who join the company will leave in 1 or 2 years time coz can't cope with Chinamen mindset. Perhaps this lack of change and innovation is stalling the price as we can't see any growth nor any change...
08/03/2018 16:16

Posted by wussyboys > 2018-03-08 20:21 | Report Abuse

To buy or not to buy..... ~ this is the question....

Posted by spectre007 > 2018-03-08 21:55 | Report Abuse

Jon... is public bank like that too? :) thought at least they have more innovative products and also Internet banking.. while rce is not a deposit taking institution but more like just a money lender... the people inside this small little company have not changed.

Posted by Jun Yu > 2018-03-09 10:33 | Report Abuse

1000 year ago there are money lender, 2018 there are money lender... seem like an easy business ...

Posted by Jon Choivo > 2018-03-09 11:38 | Report Abuse

In banking, its not the technology that matters.

But the mindset and the people behind it.

Why PBBANK can every quarter up 1-3% for the last 20 plus years? Because Teh Hong Piow is a a god of banking and most importantly, he is a major shareholder. He has skin in game.

Some goes with hong leong. Quay got skin in game.

When you have skin in game, you dont just simply give out loan. Unlike some CEO who just want his bonus and high profit figure, cause in the end if they dont pay, not your problem, cause you leave d.

RCE is very tightly held by the owners, which is comforting for me at least. On a qualitative basis.

Posted by calvintaneng > 2018-03-12 10:42 |

Post removed.Why?

Posted by tslee > 2018-03-13 16:05 | Report Abuse

This is what we call value trap.

Posted by tslee > 2018-03-13 16:08 | Report Abuse

Always looks like undervalued but once entered, kena trapped.

Posted by tslee > 2018-03-13 16:10 | Report Abuse

It will rebounded one day and subsequently decline slowly to below 1.34