Sorry you are really not someone who would be teaching me what to do. When your insas beat my ql then we talk la

A few jobs for both yinson and serba already kiv put on hold

The correct question to ask is which company carries more execution risk?
Serba has a much higher chance of not executing all its projects as it needs kpower,scib and serbadk to execute perfectly its 17 billion order book to get the big returns in earnings. Yinson on the other hand already had project wins and FPSO on very good charter rates and warning big cash flow. Even if they don't get the new projects, they are still very comfortable. With clarity of earnings, lower risk but also lower expectations of over performance.

>>>>>>>

ipunk Serba or Yinson better?
21/10/2020 9:02 PM

the important mental model to learn is the fpso company with ample cash and good contracts will always be at a good positition. even if they dont do this charter project, they can still bid for limbayong petronas and atlanta enauta fpso which is due in 2021 to bid. Previously the projects were supposed to be done using the 700 million rights issue plan. Now that they dont have to, they have more breathing space and can take things on a more orderly manner.

covid happened. PDB delay by 1 year, retender of fpso charter program. since yinson was the only bidder last time, I don't think much will change this time around.

Sure you didn't put all your money in netx? Like you said sell houses to buy netx?

stockraider lose money until gila.

sohai go crazy already, losing so much eh?

Why are you guys talking about Insas in icap forum? It has already been proven that Insas management does not act for the benefit of minority shareholders and thus has corporate governance red flag. No self respecting institution will invest in Insas, that is a given.

Icap on the other hand is just being managed by a poor find manager that value his capital far more than a good return on assets under management.

During the meeting the key thing to bring up is how efficient is he investing on behalf of investors. If I can get 6.3% investing in epf fixed income assets, and you can get 13% investing in passive vanguard index fund of sp500, then why invest in ttb icap find whose ROE is beyond ludicrous low.

Why indeed? I might as well put that money in fixed deposit myself. Why do I need to pay fees to ttb to manage it for me?

Stock raider win bak kut bet... QL drop to 6.83, drop to 2019 price...

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2018-06-27-story163008-PROTASCO_5070_Now_Bombed_Out_By_Bad_News_Until_Value_Has_Emerged_Pro_Tasks_Company_Calvin_Tan_Research.jsp

Cun cun call by Calvin tan research. Since 2017 promote talam transit 2018 promote protasco, 2019 promote netx.

Many many cun cun call.

Talamt Calvin promoted at 6 cents also very cheap, good buy!

I checked the fundamental of netx. From 1 cent to 15 cents, very good buy!

Actually many of the institutions know exactly the value of Insas and thus avoiding it. Only those retail and new investors who just started reading on value investing and just recently finished intelligent investor, they think they know everything there is to know about investing and what to buy.

You think Insas never self promote to everybody?

But there are many important questions that Insas management cannot answer fully, and even sslee long term owner cannot find a reason to explain why.

Too bad, those who know how to buy stocks make money every year and made huge gains during covid-19. I know I did.

Those who held Insas over the last 3-5 years? Not very fortunate.

The kind of level 1 thinking spouted by retail investors never ceases to amaze me. Investing in stocks so easy meh?


>>>>>>>>>>

Posted by Diamond7 > Oct 8, 2020 5:54 PM | Report Abuse

@SSLee
I love to read your write ups.
Very professional reports.
Insas is very cash rich
Cash in hand is 90 cents.
No of shares 663 million and it holds 555million inari

But why is the price of insas not up when inari keeps moving up???

Insas lacks media reports in STAR n The Edge.

Kindly have your reports published in the local media so that investors will come to realise how undervalue insas is!

Would ben graham invest in Berkshire Hathaway or it's businesses like stoneco, snowflake today? I doubt it.

Today, will Warren buffet invest in a business like icap? I am pretty sure he will not.

Then, why are you investing in icap whole parroting the words of Warren buffet and value investing?

You cannot doubt that the last 3-4 years investing in icap was an exercise in futility.

Anyone who buys icap had no idea what investing is.

Only God will judge you at the gates of heaven, why did you bring suffering to so many Innocents... Bringing them to scomies and netx? And talamt and so on so forth. Your results are plain to see and full of lies, like all fake city harvest pastors you bring Innocents to Holland promise them everything, then deny all.

How is netx now?

Yes, all of Calvin stock pick, why only past few months, why not since 2019?

https://klse.i3investor.com/servlets/pfs/123029.jsp

Yes my record with topglove since before 2019, when Calvin knew nothing about the company I have been holding. I have made 17+ million in one year alone on tg, all transparent and recorded.

How about your lies to God and to man? You told everyone that you sold houses and if top shareholders in netx and keep telling everyone to buy. How many promotional articles for you write on netx?

Your record since 2016 until now, every day promote new articles, everyone know the quality of your results.

Your results are like the the money that throws a dart at the list of stocks in Bursa, totally random.

No ah Calvin very smart his buy call for netx was 1 cent to 2 cents, cabin bought 2.5 cents. Now it is 15 cents... Calvin cun cun call mah. 15x return cun cun

3. In terms of usage, the ability of a company to maximize returns of capital is very important. Why jobstreet was so successful is because they free by 26% cagr over a long period of time. Which is very exciting for the buyer. How about today? How much is the return on equity over the assets employed? I think it's a horrible waste of investment dollars. With 300+ million in assets (2.40) it is only making around 10 million in returns or year. 3% growth yoy?? If a company is earning 3 cents in the dollar, it is a very poor use of shareholder investment indeed. If we take sp500 for example, the cagr is 13 cents to the dollar for passive investing. How do you justify putting money into the shares of a nonperforming company? Just because it is cheap we buy it hoping for revaluation of assets to the 2.40 price? Using that as a basis of value is not very rational in my opinion.

2. Last year for an investment of 1.45, you received 4 cent dividend, which is 2.8% in dividend yield. Is this a good return? Last year you can buy fixed deposit where the value of your investment is guaranteed at par rm1, and you still get the same dividend yield. If so, is it worth having the share price drop from 1.45 to 1.18 during the period for a "fixed deposit" return? Is it worth taking the risk of 22% drop in the value of your investment for a measly 2.7% dividend yield? How is that low risk tempered by high returns? One should always try to maximize return and minimize risk, which JCB doesn't seem to be able to offer.

Hi Felicity, a good sharing. But I think you are only listing the rewards of investing in JCB, without posting the risks. If you can allow me to put in context. If we compare 2019 annual reports,

1. The lowest risk investment is to buy fixed deposit, which yields 2-3% in 2019. This is followed by buying keep, which yields 6.3%, and lastly buy sp500, which last year yielded 13.6%. these are investments which have very low failure risk compared to active investing. By buying these passives, you can concentrate on your day job, not worry and doing other things that interest you. So if you want to invest actively buying stocks, your long term results must justify aka beat these results: otherwise why risk your capital when you can find a better deal at lower risk elsewhere?

why issue debt when they have so much cash???????

Did you own any before covid?

Warren buffet moved so far away from Graham cigar butt investing that Graham today will never touch any of Berkshires equities portfolio. Charlie was a huge influence to Warren in buying wonderful companies for a fair price.

Is any of icaps assets wonderful companies? I highly doubt so.

>>>>>>>

JohnDough “Graham delivered the silver bullet of investing when he said the three most important words in investing philosophy are “margin of safety”.

Recognising that it is essentially impossible to pinpoint the precise intrinsic value of a business and that the best you can do is compute reasonable ranges of value based on reasonable assumptions, Graham thought you should give yourself a break by making sure the price you pay is way lower than the low end of your valuation estimate.

Graham said the margin of safety principle ultimately served as the touchstone in distinguishing between investing and speculation. Those who deny the difference between price and value or fail to get a margin of safety take their seats at the roulette wheel. Place your bets!”


How to Think Like Benjamin Graham and Invest Like Warren Buffett – by Lawrence Cunningham
27/09/2020 1:58 PM

Added 270k shares of uoadev on 1st oct at 1.57 due to the good news of selling the uoadev tower for 700 million to the REITs. Renting it back at 7.2m per annum is a fair deal, and gives a lot of bullets for well timed acquisition during this trying times. Very happy with the management.

Fool me once shame on me. Fool me twice, shame on you. Jaks is really not acting in a manner that should befit a listed company.

I think I have done all I can to convince you on the value of investing in insas. In fact, the results already shows. I also have done my civic duty in telling you to avoid these kind of waste of money.

How many more years do you have to earn money? Do you really want to waste money for the sake of ego? Or do you think it is time to properly value companies not on the basis of accounts and annual reports, but on the basis of qualitative performance? It's been almost 2 years since my first post, you can compare the performance of my first 4 stocks since 2019

Public Bank 24.6
Ql 6.7
Topglove 5.6
Yinson 4.18

Versus

https://klse.i3investor.com/servlets/pfs/137236.jsp


When you are ready to learn how to make money and drop your ego, you are welcome any time. No ego, no insults, no making fun. Just simple and proper discussion.

Good luck in your investments.

Sold lctitan 28/29 from 2.11 to 2.09, average 2.10

Wow sarifah selinder is back since may...

The valuation of insas? Yes paper value is 1.7 billion. So what?

But... It has as much utility to you as shareholders of insas as a giant block of gold hidden in the ground. Yes you know it's there, but will you be able to dig it up from the ground? No?

The only utility for you as a shareholder of insas is hoping that the management of insas is able to dig out this block of gold from the ground and hopefully... Just hopefully... Give you a little bit of it.

Sorry I think this post was a waste of time. While you want to keep
talking about valuation, how about the valuation of xinquan of 1 billion? What use is knowing that 1 billion is there if the management is doing actions that are not to the benefit of shareholders?

Meanwhile... A company that is inline with shareholder values, creates VALUE and has ever increasing dividends and assets and business is now worth RM10. Imagine that. If you had bought 670k barely a year ago in January... You would rm1 million today.

Storytelling indeed.

Dear sslee, you are still very welcome to have a nice discussion without acidity on telegram as we now have a staff working for inari to scuttlebutt information from.

In any case let me give you an example of business sense.

Forget about share price and shares for a minute. Imagine if your late grandfather has a huge business of timber, Palm oil, logistics and semiconductor etc. He passes away and gifts shares in the company to ask his children and grandchildren, yourself included. However, in this case your uncle and his family gets the controlling share of the company. He gets to appoint his children as directors, gets a salary every month, and gets director fees every year. They get to do whatever they want with the company, buy new businesses, each director gets a bmw, declare dividends to shareholders etc.

Herein lies the problem, being an unlisted company, you can only sell the shares amongst you. No one outside will buy it or can value it properly, because company accounts are kept by your uncle and only for directors and managers discretion. Knowing that no one outside will buy it, you have 1 of 2 options: sell it back to your uncle for a low low price, or sell it to your relatives for a lower price.

However, your relatives are not interested to buy it from you, and in fact are willing to sell their shares to you instead, simply because they have heard that your uncle is not able to grow the business your grandfather started, and if in fact selling it's profitable business in semiconductors to fund their lifestyle.

They have also gone into many loss making businesses, your cousin wanted to start a clothing line so your uncle indulged her. Her brother wanted to start a new car rental line, that was also indulged. Then your uncle's brother thought that biotech was the new future, sold more shares and raised cash for that business ( no earnings to date).

All this while, you are thinking, why are they not giving money to the other family members or declaring got earnings from buying core businesses that your grandfather started in semiconductors. And you are thinking, why don't they just buy everyone out fairly with the money in the company.

You see... Your uncle already owns the company. Why does he need to buy your shares?

Hi davidtslim, mind to share your portfolio so we can study your comfortable picks? So far your sharing on Supermax is after the event happened, your sharing on hengyuan and petronm has already crashed ( I don't see any sell call from you, only buy calls), and your dayang picks also similar endings.

Hope to you learn more from you, do share some of your long term results.

Bought lctitan 200k shares on 22-23 after reading some reports from Jon around 1.79

it is interesting how just a few months on, the discussion is no longer about the profits and viability of the company, but about the reliability and honesty of operating management.

If only in every annual report there is a big number below assets on the auditor rated performan ce quality of management.

Unfortunately, when the auditor is the one being paid by management, there are many things better left unsaid.

This is why until today you drive myvi.... While I put my money to work in topglove and QL,

>>>>>>>>

Posted by stockraider > Sep 20, 2020 1:41 PM | Report Abuse

We are at the final lap....if u still want to stay & believe in the prospect & potential of netx u must subscribe for the Rights Issue loh.....!!

This is avoid your position being diluted by the rights issue loh..!!

If u do not believe in NETX u better sell loh...!!

Raider says u should not only subscribe for the Rights Issue but u should take opportunity to apply for the excess rights share too mah...!!

Wow!!!! Must buy stock!!!

Sslee is this you as well. Good luck on your social activism!


>>>>>>>>

https://www.onlinecitizenasia.com/2020/09/17/shareholder-raises-concerns-about-sias-15-years-of-fuel-hedging-losses-to-prime-minister-lee-as-no-one-takes-accountability/

If everyone knows you are going to sell inari shares to pay off the bank, who do you think will be crazy enough to buy inari shares at pe 44? There will be a stampede of settlers to get away from the market makers, what do you think your final selling price will be?

The same cannot be said of companies like Jaks and insas, every year the share price drops, rcps and right issue comes out and other people prosper.... Sigh.

>>>>>>>>

SHQuah Every year I am using my Gkent dividend money to buy more Gkent. There's why I am having more and more Gkent share as I never sell any.
17/09/2020 3:12 PM

Sslee is always unhappy. When gkent does share buybacks, he complains and says he wants dividends. When he gets dividends he complains and says he wants to see earnings and revenues. I still recall when I first started posting my thoughts he says I am imaginary and fake investor and all sorts of words coming out. Today we know who is the real investor and the fake investor and how overpriced QL performed versus insas and friends.

I invest in people I know, things I know and businesses I understand. I will leave it at that.

Sadly I think you already couldn't justify not buying gkent at 40+, pchem at 4.20+, topglove at 5+ and still holding cash waiting for another crash. So it's better to just let earnings results show you the share price performance, and not waste time showing you data shared by gkent staff in my telegram group. You would still require more and more information anyway that will not be revealed. Good luck on your investments.

Quality of management is a key criteria in the success of my investments. If you have poor management, it doesn't matter how much money you make, they will find a way to piss it away sooner or later.

I think sslee wants to see results before he invests in anything, which is a good thing for those who choose to invest in good companies that does constant share buybacks, pays consistent dividends, has never lost money before, has huge asset base and a order that is many multiples of the company market cap ( and also has 200 million in cash).

I on the other hand, hate to put money with companies that have a lot of cash but still does multiple rights issues, raises money but losing money on qr, and doesn't have much in clarity of revenues, earnings and order books ( but borrows a lot of money and gives free warrants).

It's a sad world today that individuals decide to put their money on loss making companies while dismissing companies that don't lose money even during mco epidemic. In any case, I have been building my positions, and the results of my stock performance over time currently is clear to see.

Let time show who is right and who is wrong. I lose nothing by waiting. Would anyone sign a loss making contract especially if they could have forced LGE to keep to the awarded contract details or pay the huge penalty?

On another note,
Philip was the one who invested in topglove, pchem ,ql yinson and added positions in March.
Sslee was the one who invested in jaks, Insas, bjland and writing commendable letters to bursa to report the directors of his investments.

I wonder... Who would know gkent better?

Gkent doesn't need to replenish unnecessary things until they can settle lrt3 which is already a very big project to swallow.

I would prefer a smooth and successful completion and handover of projects so they are in a good position than to go into debt and keep getting projects which cannot collect payment.

In any case good fundamentals and good management will always have a future.
Gkent doesn't need to "urgently" do anything. Just keep doing what they are doing now and projects will come as many construction companies will be having cash flow problems and completion issues.

This construction order book is the least of my worries. When you have a mountain to swallow, it is silly to look for other mountains.

Please tell me how many 360 million ringgit companies in bursa can get 11 billion project?

It is even more illogical for you to expect a JV company to start giving dividends and earnings to mother companies instead of using it to quickly complete the project as timely as possible

Very simple question sslee, during mco and bad times, has gkent or mrcb done any rights issue or cash sales to raise money to pay for JV expenses to complete the project? Why not?

How come jaks constantly raising money to complete their power plant?
How come Insas with cash still raise money to do... Whatever it is they want to do?

How come gkent paying dividend and share buybacks instead of borrowing money to complete lrt3 project? 50% completion progress claim... Where is the money coming from to reach milestone?

That is why understanding business is hard. You look at company with a lot of cash but still raising money from public to be a good company. I don't.

You look at a company that uses it's full revenue to complete project and declares taxes later as bad. I don't agree.

Gkent is not a trading company. It is a construction company. If you study construction companies or ask your contractor friends on how they declare their revenue and profits you will realize that profit recognition is usually on the tail end of a project.

Don't believe me? Please do your research and ask around instead of guesstimating.

Also I am not saying that they have to wait until 2024 to get full progress claim, I am saying I am willing to wait until 2024 to see the full return of my 5 year investment.
>>>>>>>
It is not logical for MRCB George Kent to wait full progress claim in 2024 to report in the full profit and incur big Tax as tax is paid base on financial year end.

Sorry shquah, recently I have been spending more time on telegram, more research and reports shared there by glove workers, gkent workers, serba internal staff etc. Much easier to share information and reports.

You already know the answer to that. If you want full progress claim, 2024 final handover. I am waiting and not selling my shares until then. Do you think I work in there?

While waiting, I get to collect dividends, share buybacks and good profits from metering and hospital projects.

When will final progress claim hand over? Who knows? But will we get increased profits after covid? Definitely. Again, the jv of mrcb/gkent will show you a big amount of progress in revenue and claims to buy materials and pay subcontractors.

Sslee, tell me which construction project do you lock in profits first?

>>>>>>>>

Sslee Dear all,
Engineering
Revenue of RM 38.39 million for the current quarter ended 31July 2020. Segment profit of RM 9.49 million (Share of results of JV MRCB George Kent: RM 170,000)
Revenue of RM 59.93 million for the 6 month period ended 31 July 2020. Segment profit of RM11.2 million (Share of result of JV MRCB George Kent: RM 504,000)

Metering
Revenue of RM 31.77million for the current quarter ended 31July 2020. Segment profit of RM 6.91million
Revenue of RM 49.54 million for the 6 month period ended 31July 2020.Segment profit of RM 8.90million

Note: AGM answer; for both hospitals, the balance revenue as at 31 January 2020 is approximately RM260 million. The JV MRCB George Kent only brought in share of profit RM 170,000 for current quarter and cumulative RM 504,000 for 6 month period ended 31 July 2020. Should this be a concern? Hope Philip has answer to when JV MRCB George Kent can contribute significant profit?
15/09/2020 7:36 AM

Good job sslee. A good attitude to have, hopefully bursa can be a more useful market to provide better listed companies to invest in.

What content?

1. Supermax will have superb results there is no doubt about it. However... does the results match the euphoria and forward looking investments dollars to put into it moving forward? Can supermax next quarter reach 800 million? next quarter after that 1600 million? how about next quarter after that? Yes, one may not know the future, but paying the price today assuming that every year will be covid-19 year is not rational.

2. study or not, one thing is for sure: either you believe there will be a vaccine, or you believe that there will not be a cure. The probabilities of a vaccine coming out is far more likely than not, considering the entire world is rushing to produce a vaccine. The question to ask is simple: if no covid, how much will be the glove demand moving forward? If covid continues to exist... well.. different story.

3. Yes, other diseases will come, but that is not the question to ask. The question to ask is moving forward, by 2021 and on, how much more glove capacity will exist in the world? As supply will undoubtedly overload demand, how much will the price change versus supply? It is silly to assume that no one else has the capacity to produce gloves, and moving forward at such great margins, no one else will want to join in the game.