But my buying of gkent is based on fundamentals and business sense. Gkent is a highly profitable company with 20% bet profit margins, 15% roe, never had a loss making quarter, 200 million net cash, and also got 6% dividend yield. Even if GKent perform just a little, it will be profitable for me. Plus got mrt2, lrt3 and possibility of ecrl.

Jumping over a baby versus doing high jump versus jumping over 12 story buildings, I prefer high possibility vs low possibility myself personally.

>>>>
If buying into SAPE is base on investment foresight, the same can be said & applied to Gkent too mah....!!

Ok let the record show that calvinT has bought more at 4.5 cents. Later he play play don't admit he bought a big lot at 8 cents and cut loss again

Hi Calvin, more bad news. They sold their entire hotel and recreation business... Also for a song. For assets with 107 million, they paid....

>>>>>>

On 6 February 2018, the Group entered into a Shares Sale Agreement (the “Agreement”) to dispose
100% of the equity interest in Malim Group to World Lucky Business Chief Club Limited (the
“Purchaser”) which as reported in the hotel and recreation segment, has already ceased operation.
The Group has received the deposit amounting of RM1.09 million during the current financial year.

This is your company that you promote Calvin, selling it's assets that you so highly prize.... For a song.

>>>>>>
Group pre-tax loss was RM10.35 million higher than the RM7.97 million for the same quarter
last year. The higher loss was mainly due to gross loss generated from the sale of land
because certain lands were not located in strategic locations and therefore has no potential for
development in the next few years. The purchasers were only willing to BUY at a LOW PRICE. In
consideration that the Group is bearing a high interest loan, the management decided to
proceed with the transaction and apply the proceeds to repay borrowings, thus paring down the
Group’s finance costs.

The present just caught up with you. 30 million revenue, 11 million losses.
See the Chun Chun connection?
The more revenue talam transform generates, the bigger their losses!
Blood bath on Monday.

>>>>>>

calvintaneng We must future not buy the past

9 years running with yearly losses, Calvin pick is so Chun Chun!

No one going to help you now Calvin, you will stuck at 8 cents forever.

50k buy 8 cents stock
50k buy rm8 stock
The results is still the same, 50% losses and stuck since 2017.

Clap clap clap!
CLAP CLAP CLAP!

Honest Christian Calvin leads innocent investors to hell again.

Short term sucks are a popularity contest, long term it is a weighing machine.

FYI this is also why I don't bother with technical analysis.

None of the chartist could have predicted that DAYANG will climb from 79 to 1.78. and none of the chartist could have predicted that DAYANG will drop from 1.78 to 1.29.

I prefer to buy companies when they are just starting out with that hint of potential and a market advantage compared to others and ride it out for the long term.

Yinson has a huge advantage compared to it's peers like Armada, sapura etc.

I can't really tell the difference between DAYANG, CARIMIN,t7, destini and all those other small-time o&g companies Calvin tan likes to promote that specializes in manpower and maintenance services. What makes dayang special and how can they compete internationally?

If they can't compete internationally I don't bother investing.

Yinson, QL, topglov, gkent, PCHEM all have something in common.

They aren't jaguh kampung only.

If someone can tell me the moat that DAYANG has to let it compete internationally I'm all ears.

You learn new things every day, I'm old man already, gkent giving me 6% dividend and pe of 7, why not take a shot? LGE just awarded them 11.8 billion in rail system contract which they also subcon m&e part out to the company I work at, so why not take a stab at it? If completed I happy both ways, if got problems with lrt3 I at least know earlier than everyone else.

I didn't say DAYANG was bad, I'm just responding when someone say DAYANG is a better business model than YINSON which I have a few lots in.

So I just thought I'd give my 5 cents ( or in my case rm1.28 cents worth) in terms of what I have seen in the business opportunity growth of yinson since 2013.

When sumitomo group wants to JV with YINSON ( yinson do the work while sumitomo finances), you know they doing something right.

I invested in YINSON since 2013, I doubt anyone here ideated in DAYANG since 2013.

A GOOD valuation metric is to compare DAYANG vs YINSON.
DAYANG has a better biz model, carries lesser risk than Yinson, an ocean TAXI co.
>>>>>>

Ocean taxi is an apt name. You know exactly what it does, what the revenues and profits are, and where it is going 5 years from now with it's firm orderbook with penalties for cancellation.

For DAYANG, you never knew this company existed before KYY promoted it.
Earnings also are spotty. One year 164 million, one year -143 million, one year 54 million. Average out is 25 million over 3 years, how can we know it is a growing better business model?

Plus dayang only compete locally for petronas business, I don't see it being contractor for modec, Nippon oil, Chevron, BP, etc etc, while YINSON win project internationally first then come do Malaysia projects.

Just as in investing you don't build wealth in a month or 3, I think it will take years to pull ourselves out of the mess that is bn government since Independence. It will take time, but it will happen.

Patience is the key.

I think there is a big difference between long term investors, hopeful investors, hopeless investors and trapped investors.

Confirmation bias can be a deadly thing.

>>>>>>>

Interesting to see that only 0.026% of the shares are traded today as at 1120hrs.

This means 99.974 % of the investors are long term investors. This to me is great news.

Lazy want to layan short term gamblers like Calvin. Moving on.

You mean it was a negotiated contract? Okok learn something new everyday.

I really doubt if I will get margin call, I am only using around 1m of margin trading from my total Maybank portfolio, more than 10:1 ratio. Even if entire margin drop to zero I think I will still be ok.

For those who think GKent is only a bn crony with no future.

>>>>>
KUALA LUMPUR: George Kent (M) Bhd is optimistic the Pakatan Harapan (PH) government will appreciate the company’s expertise as a rail systems specialist, although it has been long perceived as a Barisan Nasional (BN)-friendly company.

“If the current government does not like us, it would not have allowed us to continue with the Light Railway Transit 3 (LRT 3) project,” said independent non- executive director Datuk Paduka Keizrul Abdullah (pix).

George Kent is labelled a “crony” of the previous BN-led government, as it is a known fact that chairman Tan Sri Tan Kay Hock, who controls 42.21% of the company’s equity, was a golfing buddy of former prime minister Datuk Seri Najib Abdul Razak.

However, Keizrul discounted the notion that the chairman’s close relationship with Najib would be a stumbling block for the company to secure future projects from the present government.

“People always assumed that we secured our past jobs because of the ‘BN connection’.

“In fact, we secured all our jobs, including our first mega project, the Ampang-Line LRT extension, via an open tender instead of negotiated contracts,” he told Bernama.

I seriously have no idea how to do that.

Anyone have a crystal ball I can borrow? I would love to follow a trend, if I knew how to get off before it breaks.

But no one has ever been able to show me that trends spotting works consistently.

Erm, no one has yet to mention the high taxes in those countries. Here is a list,

https://tradingeconomics.com/country-list/personal-income-tax-rate

So there is a balance to everything.

Personally I think the grass always seems greener on the other side. If you ask me where I'd rather be? I'd rather stay with friends I know, people I love, and family I can take care of. There are far more things in life, as long as you have enough where you no longer need to worry about your next paycheck, got enough to retire and live on dividends, and most of all can send your kids to college and pay for your wife's medical bills in private hospital? I think big income is overrated. What matters is how much fun you have with the life you live.

Myself I love the island, farming and fishing life. You can find nothing better in Sabah.

Haha that may be true, it works until it doesn't.

But I learn nothing if value investing that way. What if one day no more kyy? Then the golden rule no more how leh?

Getting 18 cents dividend today. Bought more pchem at low prices.
Annnnnndddddd sapura sold 50% upstream... Then gives out 0.005c dividend that you only get to see in June. Why June? I really don't know, maybe because sapura got no money?

Lesson here is PCHEM is paying from a part of their growing profits, while sapura just cut off it's profitable leg and gives you a nail. Why give out a dividend if they owe so much?


>>>>>>
IT IS TRUE LOH....JUST LOOK AT RAIDER COMMENT ON 5-3-2019 LOH....AND COMPARE TO THE CURRENT PRICE LOH!!

SAPE NOW IS RM 0.345 V PCHEM RM 9.03....SAPURA IS OUTPERFORMING PCHEM BCOS IT HAS BETTER PROSPECT & MORE UNDERVALUE LOH...!!

I never started out buying simply blue chips. I started buying companies that had a moat. It just turned into a blue chip on it's own.

>>>>>>
jumping from top blue chips to an LRT contractor that can bankrupt the company if things go wrong..........that is a big shift.

Kent meters psm-T water meter is an industry standard used in Hong Kong and Singapore and internationally.

Strictly speaking, my investment thesis has always been around investing in Malaysian bursa companies that can compete internationally and have a proven record of successfully taking jobs overseas rather than just in Malaysia.

I believe George Kent is still a quality company that is worth investing in long term.

>>>>>
2019 12:26 PM

3iii https://klse.i3investor.com/servlets/discuss/5107154.jsp
Deep Value Investing has its Inherent Problems. Just ask Calvin and Raider.


There are better ways to make money.
Stay with Quality

Well, my only advice is to buy when something is still doing well, the business fundamentals has not changed, but it has just become unpopular. Why buy dayang and other hot stocks when it is on fire and everyone and their fruit seller is buying some. As a small investor we should invest in the unpopular stock because that is when it is selling at the lowest price and has the most to gain when people suddenly realize "hey that stock is actually not that bad!".

And when you find out is has 15% ROE, 19% net profit, 84 million earnings yearly (8 years to gain back your investment in gkent on earnings alone), AND pays you 6% dividends to wait and see how things go?

Yeah, it's an interesting bet indeed.

Actually I'm not really promoting gkent, but more of giving tips on how to invest around margin.

Of course best is if don't invest using margin if you can help it, or if like me use 10% of your portfolio as a margin exposure.

Don't do drugs kids.

KUALA LUMPUR (Nov 2 2017): Insas Bhd has acquired a 19.91% stake in Diversified Gateway Solutions Bhd (DGSB) via direct business transaction from Omesti Bhd for RM12.83 million cash or 4.75 sen per DGSB share.

In a filing with Bursa Malaysia today, Insas said the acquisition of 270 million shares in DGSB was made through its wholly-owned subsidiary Insas Technology Bhd.

Insas said the acquisition is expected to have synergistic benefits as both Insas Technology and DGSB operate in the business of information technology.

Advertisement

"Insas Technology was one of the founding shareholders of Bursa-listed Inari Amertron Bhd and together with Insas, Insas Group holds 19.82% of the issued share capital of Inari," it added.

Based on the audited financial statement for the financial year ended March 31, 2017, the net assets of DGSB amounted to RM44.48 million and its net profit stood at RM416,603.

Insas said the purchase price of 4.75 sen per DGSB share represents a premium of 0.21% over the 5-day volume weighted average price of DGSB shares.

>>>>>

I so pity the investors of INSAS. First their management bought DGSB at 4.75, then consolidation of shares into 9.5 cents. Then now drop to 0.075. hold for 2 years, then consolidate and no dividends some more. What a waste of resources.

Oh god insas bought 20% of dgsb at 9 cents.

I'm getting paid 35k next week to wait and find out.

Not that I am being critical, but the fact remains if you ask yourself how much the share price drop (4 to 1.12) versus the business drop (124m earnings to 84m earnings) and the dividend awarded drop ( 7 cents from 9 cents), the fact remains that for a company that has never lost money or has excessive debt, it should not be punished as such ( unlike armada,hengyuan, sapura,jaks,etc where the share price drop is due to a change in business fundamentals).

I tried to look for it, but even today I have yet to find a clear indication that the business fundamentals of gkent has changed.

Can you really look at me and say the 11.8 billion contract that gkent signed is a negative thing long term?

FYI I'm not a trader, so I don't look at short term stock performance.

I'm looking at long term returns.

In investing there is no such thing as a sure thing. There are only high possibilities and low possibilities.

The fact that a big drop in profit and revenue this financial year still allows it to keep it's dividend yield of 6% (46% of of earnings) gives me faith that gkent will continue it's dividend payments next year, when the new ph government stabilizes and awards even more projects and payments.

If the earnings decrease to 60 million next year, it will give out 26 million in dividends, which is still not bad. Imagine if the share price drops to 60 cents by then, I will sell all my QL and go all and buy gkent, because then I will get 10% dividend in the years to come.

Are you sure the company will not be able to give out bigger dividend and increase earnings in the future? It has given 9 cents dividend before, and a high of 600 million in revenue and 124 million earnings.

>>>>>>

2019 11:58 AM

newbie8080 @ (70B-SAPNRG-3Yrs) Philip

Are you sure the company will be able to sustain the same dividend payout for the future?
-

LRT3 to resume at normal pace in 2H19. GKent-MRCB signed a turnkey (fixed-price) contract with the owner of the LRT3 project, Prasarana Malaysia (Prasarana) on 25 Jan 2019. This was followed by the novation of contracts from Prasarana to GKent-MRCB in regards to the work package contractors (WPC, sub-contractors) on 22 Feb 2019, thereby enabling GKent-MRCB to enter formal negotiations with the WPC's on the redesign and cost-cutting measures. Negotiations are currently underway and are estimated to complete by mid-2019, allowing works to resume in 2H19. Its outstanding construction orderbook stood at >MYR5bn, with a large portion comprising the LRT3 turnkey project.

>>>>>
Gkent and mrcb gets to jettison off all the bn cronies and redesign and cut costs by bringing in the proper companies that actually work instead of play politics. I know this because they called up my boss and I'm now in KL for the redesign proposal on the mechanical & electrical engineering portion as part of the NSC subcons. That's how I know gkent is worth investing in for the long term.
* Now you probably know who I work for haha.

Imagine if the management paid you 6% dividend every year while waiting for JAKS to complete it's IPP over a few quarters of disappointing results? That would be really having your cake and eating it too.

This is most likely true, but having said that being paid 6% dividend a year and buying at the lowest price since end of 2015( when net was 28 million versus now at 84 million) makes it much more palatable.

And to be honest, if you forget about the political noise for a bit and only at the results, in 2019 disappointing year gkent did 430 million, 84 million in profits, and 38 million in dividends. For a company valued at 619 million.

If you contrast that to a company like vitrox, in 2019 vitrox did 394 million, 105 million and 22 million in dividends. For a company valued at 3.4 billion.

Did I get to the part where gkent has 200 million in net pure cash and the fact that LGE awarded 11.8 billion lrt3 contract to the mrcb/gkent jv?

Which do you think did the more disappointing result?

* This is only looking at past performance, which is worth nothing. Vitrox could be the next Apple for all we know. That's the problem with investing, is about future performance not past.

** If I had 3.4 billion, I could buy in its entirety: gkent(619)+choobee(206)+pphb(113)+Harrisons(266)+DKSH (370)+hibiscus (1715)+ star media(558). I would make far more in total value of dividends, assets and revenue than what VITROX is doing right now.

*** Ok it's around 400 million more, but if I could liquidate star and get that 300 million cash out and the 500 million in balance properties etc after liquidating it, it will be the best asset play ever.

>>>>>
conclusion.......u have to look forward to 2-3 quarters of disappointing results.

Amazinggrowth I think you are a good learner, learning many things from kcchongz. But if I may be so bold to suggest, learn a new metric from Peter lynch, terminal value.

You need to be able to classify every company into the story it is telling you, stalwart, fast grower, slow grower, cyclical, turnaround, asset play, with each type giving you a reason to invest in it.

Your need to answer these questions:

1. Why has the share price been range bound and stagnated around 30+ cents range for part 5 years
2. Why is there no consistent growth trajectory of earnings and revenues for part 5 years since the 2014 jump?
3. Are you buying this stock for the 4% "fixed deposit" dividend, for an inherently higher risk investment like stocks? Has the 1 cent dividend been growing yearly?
4. The one and most important metric if you need to use one in vacuum is EARNINGS GROWTH. How has it performed in the last 5 years and where do you see it going in the next 5?

Once you have answered those questions then you can classify how to fit your company into your investment thesis.

FYI, negative FCF temporarily is not necessarily bad. Just look at Facebook, Amazon and Google during the early days. Capex builds traction which builds future cash flow which is also an important question to ask in the future.

Never ever use just one mental model to break down your stock pick.

Having said that, I think choivo is an ass who is caught between the horrible triangle of needing to be right so others can agree with him and say how wonderful he is versus trying to keep quiet and buy good stocks that he thinks it's undervalued versus getting general public to put money into his hands to invest so he can charge management fees.

Its a stressful thing, made even more so when choivo is not really good at stock picking, and doesn't have any money to invest meaningfully and he also wants his stock pick choice to be reaffirmed by other sifu.

He needs a free more years under his belt.

Pity him instead.

Haha I trying to keep a low profile. In a very very (very very 10x) small way I don't like those who keep writing multiple articles over and over again heavily promoting a stock in capslock ( like Stockraider and cabin tan) posting on every thread and drowning out every comment. If you are sharing for sharing purposes, writing one article with relevant information is enough for i3 public to understand your thought process, why you are buying a stock and sharing your hard work is more than enough. Writing 11 articles on 1 stock from Nov till march and using other bloggers name like choivo(and mine) to push the conversation, and having the share price drop from 36 cents to 28 cents in that period feels wiggly.

The stock investor is neither right or wrong because others agreed or disagreed with him; he is right because his facts and analysis are right.

I prefer to enjoy facts and analysis more than constant bombarding of the same tired information.

Their results so far 277 million from construction, 19 million from infrastructure (operations and management of water treatment plant), and only 133 million from water metering business.

1. They are not mostly water meter business. In fact they are mostly specialized construction ( hospitals, water treatment plant and rail transit), which your normal general contractors usually don't have the capability to do.

2. Unlikely to get any more lucrative contracts from pH government is also slightly untrue. They have received the biggest contract so far from pH government at 11.8 billion ringgit. Biggest award so far since change government. The lucrative part you may be right, because it is no longer a project delivery partner contract, it has been novated into a fixed price contract, which in this case means any delay or cost overrun will be absorbed by gkent and mrcb. However, in this new scenario, gkent gets to do everything instead of just monitoring, so they have a bigger share of the pie which no longer needs to be shared with najib and rosmah cronies. You no longer have to award bloated contracts to gamuda etc, but you can sub to your own reliable contractors from China who can do twice as fast, twice as cheap.

At least that is what I think is happening la. Time to wait and see and eat some popcorn.

>>>>>
Gkent is widely known to be connected to the old government. Unlikely to get any more lucrative contracts from the PH govt. They are also mostly water meter business. Just wonder how efficient can they be in construction now that they have to tender competitively to get any job

? Stockraider say it will hit rm 3 in 3 years and 3 months time Woh.... What are you smoking?

The question is what so I do with the 35k in dividends? Buy more shares? Pare off my margin loan?

So far I'm not running out of profits la, got 3.5 cent dividend next week, and a history of paying dividends even through good times and bad...

I wouldn't say 20% net profit margins and 15% roe as miserable, and paying 6% dividends I find very very attractive.

How many other contractors have such margins and dividend payouts and net cash assets in bank? I am very interested to know

Stockraider cock is sure will hit rm3 in 3 year 3 months? Ok we just believe then. Because of false we get to cut and barbecue the cock.

Keep putting money in Shane! You are doing a good job! Buy more in weakness! I'm sure one day you will make money!

Personally, I don't think gkent will even sniff ecrl at all. It will be gobbled up entirely by China GLC. I buy it for the lrt3 prospects instead.

Those who invested in naim in 2018 and 2017 when oil prices were higher only now get to enjoy reversion to the mean. Make a lot of money after 2 months? Sure. Lose it all end of the year. Try making a lot of money consistently for 10 years Calvin.

Naim now dropped back down to 1.22 while pending quarterly results.

Good luck Calvin with your fake theories, and short term investing.

Talamt undervalued? How much money you put into this company which has lost money every quarter for multiple years on end?

So called shares dividend is just a dilution of shares from treasury stock. Meaning company no money to give you, just give you some company shares similar to esos. But at higher price of course.

I prefer money dividend.

He tells you to buy at 0.65 cents, now drop by 20%... And he will keep telling you it is stable like bond fund. All the way back down to 45 cents again..

You know he will abandon you when he stops using capslock like stoneraider, and quietly walls away.....

Calvin tan has abandoned you in the desert. Jeremiah 11:11

True. But the story is still the same. You are paying 4.95% for the use of risky leverage and possibility of your share price dropping. If you capital shrinks on risky investments, your losses are very much magnified.

How do you counter that? My method is to pick a good business that never loses money, pays out currently 6% dividends, and has been oversold so much that any good news ( like lrt3 award) will float the company back up to the rm2 level.

That is how I believe you should play with margin. Not those crazy run o&g pump and dump investments.

Win big, lose big.

No dividends.

So far I've counted CalvinT promoted more than 50 stocks, out of these 50 stocks how many actually work out long term. It makes you wonder how much money he actually put into talamt. He promote so much you really wonder.... A few stocks work out he say chun chun. His overall portfolio? Does he build long term wealth? Does he hold his stocks long term or sells it after ikan bills like you join in?

At least when KYY buy stocks, you know he will buy a lot and he won't promote 50 companies.

CalvinT way of investment is like those stock trainer scam. Select a lot of stocks. Chun chun call the most profitable ones with percentage gain ( not showing how many lots held), then say his gain is 200% to show he is chun chun sifu. All while hiding the rest of his non performing stocks in a corner and heavily promoting them.

For what infernal purpose? Why only a Honest Christian like Calvin knows.

But for you who invested since 2017 using his stock tips into talamt? Guess what. Nothing happened.

NTA as a simple measure of how to value a company is silly. I challenge all of you including CalvinT to read up on the Penn Central transportation company. It has USD60 per share of hidden land, assets, properties etc etc. But it's core earnings were negative, losing millions every quarter. In the end, this USD60 per share company went bankrupt.

In accounting financial reports, tunnels through mountains and useless rail cars are considered assets. So are undeveloped jungles in the middle of nowhere.

I am now an investor in GKENT! Hi all! Here is my business sense and thanks for the stock pick young men! and ladies of course!

https://klse.i3investor.com/blogs/philip3/199668.jsp