Posted by Jon Choivo > 2018-04-11 14:14 | Report Abuse

That disclosure is nothing special. Why? I'm lazy to explain.

I'm very unhappy that my cost price is going up when i have not had a chance to top up, and i have no intention of educating others and making my cost price go up even more.

I've already written enough on valuation of financial institutions and RCECAP that anyone can go do their own research.

With luck, i hope PH will win and crash the market for me for a few days to buy shares.

I will write my report on RCECAP only when the price is near 2.4 in which case, very low margin of safety (meaning i wont buy), and any increase need sentiment to go up.

Or when i enter top 30. Which is probably 3-4 years down the line. I'm perfectly fine with price staying here till then, as long as no change in fundamentals.



===========================================================================
stklearner Yes,, the concentration of loans given to the top 5 borrowers , which are related corporations /cooperatives , total rm845.528 m of total loans rm911.767m is a red flag.
market is always right,
10/04/2018 21:00

Posted by Jon Choivo > 2018-04-11 14:27 | Report Abuse

If you don't mind, i would rather you constantly criticize and talk down RCECAP.

Because, one, that's the only way you know if you're wrong. Everyone agree with you, compliment on your research, but turns out you holding rubbish, jialat!

However, the main reason is because i know my research well enough that i'd rather the price go down, because this lowers my purchase cost.

Fuck paper profit/gains. Its not like i'm using the money also. I want to own this company!

And i'm lazy, i don't want this company reach 2.4. If it reach near there, means i might need to sell and find new company to buy.

I finished 5 years worth of financial statements from every single company in the KLSE, all 9XX of them.

I can tell you, fantastic companies selling at cheap price used to have 2, now only 1. All other fantastic companies selling at near fair value or way above fair value.

I want to paktor more. Instead of everyday read reports. If this one price go up, i need to stop paktor and start reading more reports d, and maybe even start reading the 8XX companies for SGX.

Please ah god, don't let the price go up summore.


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Posted by stklearner > Apr 11, 2018 06:57 AM | Report Abuse
i am here to learn (esp. from others mistakes) and not to shoot down any stocks..

Posted by albert787378 > 2018-04-11 14:27 | Report Abuse

may i know where to download maybank's cover report ?

Posted by Jon Choivo > 2018-04-11 14:29 | Report Abuse

http://www.rce.com.my/docs/news/Maybank%20Research%20Report%20-%20RCE%20Capital%20Berhad%2020.09.2016.pdf

http://www.rce.com.my/docs/news/Kenanga%20Report.pdf

Maybank and Kenanga report.

Posted by albert787378 > 2018-04-11 14:42 | Report Abuse

according to this report

Maybank Research Report - RCE Capital Berhad 20.09.2016

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwio1Nzly7HaAhUBRY8KHXj-B8UQFggnMAA&url=http%3A%2F%2Fwww.rce.com.my%2Fdocs%2Fnews%2FMaybank%2520Research%2520Report%2520-%2520RCE%2520Capital%2520Berhad%252020.09.2016.pdf&usg=AOvVaw0VPqMn2adh8F9pOxVsSBnJ

RCEM’s business partners

Prior to 2011, RCEM had non-contractual arrangements with three main
cooperatives, namely Koperasi Belia Nasional Bhd (KOBENA), Koperasi Sejati Bhd
(KSB), and Koperasi Wawasan Pekerja-Pekerja Bhd (KOWAJA) to provide financing
services to their members who are in the civil service.

In 2011, it ceased doing new business with the cooperatives and embarked on a
new relationship with two new business partners (i.e. Yayasan Ihsan Rakyat (YIR)
and Yayasan Dewan Perniagaan Melayu Perlis or YYP). In fact, collections over
the past five years have mainly originated through YIR and YYP, which is still the
case today.

the corporations mentioned in the Quarterly disclosure on provision of financial assistance @ 31.03.2018 are Yayasan Ihsan Rakyat (YIR)
and Yayasan Dewan Perniagaan Melayu Perlis

Posted by albert787378 > 2018-04-11 14:48 | Report Abuse

according to the same report

Maybank Research Report - RCE Capital Berhad 20.09.2016

RCE Capital is principally involved in the provision of general financing services, the ultimate borrowers being government civil servants.

Posted by gladiator > 2018-04-11 15:48 | Report Abuse

Enuf talking look at the share price got people curi curi buy..

Posted by Jon Choivo > 2018-04-11 15:58 | Report Abuse

The whole market boom the last 2 days. Alot of people expect BN to win and provide more stability. I think they will lose and cause a crash, so im collecting cash. Hope im right.


gladiator Enuf talking look at the share price got people curi curi buy..
11/04/2018 15:48

Posted by slts > 2018-04-11 16:12 | Report Abuse

PK no monies, how to win???

Posted by Lim Tek Wai > 2018-04-11 16:17 | Report Abuse

BN got black magic

Posted by Lim Tek Wai > 2018-04-11 16:19 | Report Abuse

How many units did u buy?

Posted by DroidnPlay > 2018-04-11 16:27 | Report Abuse

Jon could be right, now not only Chinese Tsunami, lot of people fed up v Corrupted Busuk Najis already.

Posted by stklearner > 2018-04-11 16:52 | Report Abuse

Good wishes and untung besar to all RCECAP units owners !

Posted by Lew Chin Hoong > 2018-04-11 20:26 | Report Abuse

only those who buy during the huge discount earn.. those hold/sold after it drop still paper lose

Posted by PotentialGhost > 2018-04-12 00:37 | Report Abuse

Ho seh , I at 1.15 add a lot 。hope rebound back 1.92 above

Posted by Lukesharewalker > 2018-04-12 12:10 | Report Abuse

heard good dividends coming up....

Posted by Sharewitch > 2018-04-12 14:04 | Report Abuse

500mil reserves...Possibility of bonus

Posted by steven223838 > 2018-04-12 14:36 | Report Abuse

RCECAP is still deeply undervalued.

Posted by Jon Choivo > 2018-04-12 16:43 | Report Abuse

Really very sad now.

Posted by Jon Choivo > 2018-04-12 16:44 | Report Abuse

20% of portfolio, wanted to buy more to make 26% of portfolio when it was 1.1 to 1.2, but decided to keep the cash for post election drop.


Lim Tek Wai How many units did u buy?
11/04/2018 16:19

Posted by godhand > 2018-04-12 16:52 | Report Abuse

dont worry u will have ur chance to buy again. i dont think the market is going to recover soon. small cap still in bear territory and i believe its going to be a long bear

Posted by Jon Choivo > 2018-04-12 16:54 | Report Abuse

Hope so. Either way, if after elections price still at 1.5 to 1.6, i will buy more.

Any higher, and other opportunities in the market may be more lucrative.

Posted by godhand > Apr 12, 2018 04:52 PM | Report Abuse

dont worry u will have ur chance to buy again. i dont think the market is going to recover soon. small cap still in bear territory and i believe its going to be a long bear

Posted by Whey Whey > 2018-04-12 18:37 | Report Abuse

When rcecap dro to 1.09 never do share buyback but when prices now 1.38-1.41 they do share buyback? Anyone's can tell me the logic behind it?

Posted by Outliar > 2018-04-12 18:42 | Report Abuse

Company also Fear of Losing Out

Posted by Jon Choivo > 2018-04-12 18:49 | Report Abuse

Its easy to say that since we know what the bottom is now in retrospect. As long as it becomes a consistent buy back as long as shares is at a large discount below intrinsic value ok d.

Posted by Lew Chin Hoong > 2018-04-12 20:31 | Report Abuse

Investor Expert always buy the stock at low PE,as it create enough of margin of safety.
Honestly i wasn't expect RCE to drop from 1.5 to 1.06 ( 20-30%), but as it bounce back so quickly, it proof that strong foundamental share will always shine.

keep some bullet for 9th May, fall = collect, raise = let it fry.

Posted by TakeProfits > 2018-04-12 22:00 | Report Abuse

Hello Jon, thanks your inputs. If PH wins, then you envisage a crash?? So if I am in small profit this counter, should I sell and buy again? Need your comments Jon..Thank you..
Would you sell if you are in profit territory and buy again IF, PH wins ?

Posted by TakeProfits > 2018-04-12 22:02 | Report Abuse

Jon, or would you still hold onto your RCE stocks in your portfolio no matter who is going to Win.
What I mean is you will hold on to your current RCE stocks you hold. And you are waiting to buy lower??

Posted by Outliar > 2018-04-12 22:10 | Report Abuse

I think people should stop blindly following what Jon does or doesnt, he has already stated his position on RCE on numerous occasions, people shouldnt follow him blindly as to a buy/sell position

Posted by Whey Whey > 2018-04-12 22:12 | Report Abuse

You should ask urself whenever rcecap still able to loan to government staff or not if PH win?

Posted by Jon Choivo > 2018-04-12 22:28 | Report Abuse

As i said multiple times, I do not buy stocks based on my predictions on if the share price is going to go up or down in the short term.

Having said that, naturally, one cannot help but make certain predictions based on our observations, but it would be foolish to buy/sell wholly based on these predictions.

At best, i lean on it. Case in point, my position in RCE is now only 21% instead of 28% (if i added my spare cash). Portfolio wise, i'm 93% invested instead of 99%.

If PKR win, fundamentals fly out the window for 1 week or more. Straight away drop like crazy.

Now i am 55/45 certain that PKR is going to win, and Expected Value wise, it may even make sense for me to sell everything just before the elections. As the temporary loss if PH were to win is likely to far outpace the gain if BN were to win.

But i wont, because i'm a pure bred investor and the things i have is worth far more than what they are quoted on the market.

You may not be like me. You may have a bit of a gambler / trader in you. I do too, but much less.

How do i sate this gambler/trader aspect of myself? Well, i'm likely to spend 1.5-2% buying KLCI Put warrants the day before election. And i am placing bets among friends to the tune of 2% of my net worth, at 2:1 payouts. IE, if PKR win, they pay me 2k, if BN win, i pay them 1k.

You need to know yourself. If i were you, i'd spend this time now reading a lot about investing from the greats.

When market is crashing, you better be ready internally, instead of asking strangers on the internet if you should buy or sell.

Posted by Jon Choivo > 2018-04-12 22:30 | Report Abuse

I've written a little bit on the difference between investors and traders.

No good or bad. Depends who you are.

Feel free to take a look if you're interested.

https://klse.i3investor.com/blogs/PilosopoCapital/150345.jsp

Posted by Jon Choivo > 2018-04-12 22:33 | Report Abuse

Fundamentally, for this company, very little changes if PH wins or loses. In the 2-3 year time frame at least.

Posted by TakeProfits > 2018-04-12 23:19 | Report Abuse

Eeh Outliar, Jon has been good commentator! So I want to hear Jons strategy. And it's good Jon us willing to share willingly. So I am learning and of course I have to judge myself whether to buy or sell. It's just that it is good to hear someone's else's opinions. So far I enjoy Jon's honest opinions. Jon never asks us to hurry buy or sell. Some of you will probably come across others in i3 hurrying us,to buy. Thanks very much Jon. Thanks for your valued comments. Finally if I make I can thank Jon. If I loose I take the risk and won't blame anyone.

Posted by TakeProfits > 2018-04-12 23:23 | Report Abuse

Jon, I have some rce. Wished I could have picked up some around 1.10 etc. But markets are ruled by so many things and human sentiments . Probably hold them. Investments have risks involved, but so far rce is doing good.
By the way Jon, what are your thoughts on BIMB! Perhaps you can have a look at the ongoing in i3 investor.
Thanks again Jon

Posted by Jon Choivo > 2018-04-13 01:02 | Report Abuse

It is the highest leveraged bank in Malaysia at 12x. Most banks is around 9 to 9.5. But I don't think its at dangerous levels yet.

In terms of return of asset, it's number 3 behind hlbank and pbbank, so the loan book is probably not rubbish.

Valuations wise it's at fair value. I won't buy. You may want to.

Posted by TakeProfits > 2018-04-13 03:57 | Report Abuse

Thanks Jon....Wow Bimb so highly leveraged!! Valley of decision..Have a good day ahead Jon.

Posted by DroidnPlay > 2018-04-13 10:20 | Report Abuse

The last Share buy back was back in 2016, instinct told me they sure know coming QR good result and at the same time low price better accumulate some. Can pacify investors at the same time.

Posted by albert787378 > 2018-04-14 00:22 | Report Abuse

another share buyback .RCECAP should perform more share buyback. It is still deeply undervalued.

Posted by Whey Whey > 2018-04-14 13:00 | Report Abuse

The uptrend may come to an end because of the Syria Attack....

Posted by albert787378 > 2018-04-14 13:30 | Report Abuse

Whey Whey you worry too much .wars break out all the time. it is not happening in Malaysia's neighbours and it is not nuclear, no cause for concern.

Posted by Whey Whey > 2018-04-14 20:17 | Report Abuse

I'm just saying it may happen...

Posted by TakeProfits > 2018-04-15 05:16 | Report Abuse

Hey Albert take it easy lar.Don so kancheong cos "whey whey" say MAY only mar. Haha.
Don't worry RCE is good stock, always tembak naik one after market corrections. Hehe.

Posted by Whey Whey > 2018-04-15 08:39 | Report Abuse

Haha yalor why so kancheong....U bought at lot is it? LOL

Posted by LaoTzeAhSir > 2018-04-15 16:34 | Report Abuse

tmr onward can short sell..

Posted by TakeProfits > 2018-04-15 23:11 | Report Abuse

I experience stocks sell the good stocks too early , and later the naik.lagi. So if you believe EVE is a good stock like out sir Jon, just hang on right. Who knows RCE can go or will go higher. Then regret.
Share investments are,a risk and we all hinge on the management doing the right thing and if mistakes management must come out quick to assure shareholders that it is a temporary situation or the mistake will.be corrected. Let's hope RCE will do well...

Posted by TakeProfits > 2018-04-15 23:15 | Report Abuse

Haha..small time investors like us, how much stock do you have to short sell. Laotze, do you have 5 million shares of RCE to sell it down. Nobody short sell.a good stock unless one of reasons for short as long is when market turns bearish. If you Laura's got 200 lots or so, then just hang on ok.
Haha

Posted by jordanmaggie61 > 2018-04-16 14:32 | Report Abuse

isOK

Posted by mneo > 2018-04-24 21:01 | Report Abuse

Now the market sentiment is bad..... investors are all sidelined waiting for the election result.... This may be one of the reason why the Rcecap stock price is dropping...

Posted by LaoTzeAhSir > 2018-04-24 21:12 | Report Abuse

though not much, but they are doing share buy back frequently recently