Performance in USD overview of i Capital Global Fund ICGF

Cumulative return since inception for ICGF vs MSCI ACWI (July 2007 - Feb 2023)

ICGF -30.60%
MSCI ACWI +54.19%

In the early years, iCAP was trading at a premium. This did not make sense, because the intrinsic value of iCAP was easily determined. It was its NAV. But did ttb warn those who bought not to be exuberant then.

Most closed end funds trade at a discount to the NAV. This is a known fact or phenomenon peculiar to closed end funds. The question is: why is iCAP trading at such a huge discount to its NAV. Using the institutional participation in iCAP as the reason for this discount is, in my opinion, a poor point.

The price of iCAP, as it is for other stocks, is determined by its prospects, its NAV and the market sentiment to own iCAP. It is a play between the supply and demand for its shares by the players in the market.

How will investing in iCAP ensure you your returns on your investment? How much is this return? When will you receive this return? Will iCAP be able to grow its NAV consistently and for how long from today? What is the opportunity cost: is it better to invest into bonds today at 4% or into iCAP or into another stock?

The sentiment in iCAP today is bad because the majority of those who have experienced this stock probably have lost money. They bought at the time when iCAP was trading at a premium to its NAV or at time when the market sentiment was high and thus, iCAP correspondingly prices higher than its normal, or for many they were market timers. Once bitten by a snake, the snake bite effect is deep in the memories of those who were bitten, keeping them away from this stock.

What has not been mentioned, which is also very important, is the lack lustre performance of the fund for a long stretch for many years?

Has PBB price dropped into bear territory today?

>>>
calvintaneng

and already received more than Rm230,000 in dividends from palm oil shares and will still be receiving very good dividends

1 hour ago

>>>>

I only know of the 8 houses calvintaneng sold to invest into NETX which he shared proudly and loudly with everyone in i3 investor forum. As far as I know, he lost heavily in this trade.

Accordingly, calvintaneng's compound annual returns on his investments cannot be good. But he, calvintaneng, loves to highlight his annual return from single stocks. Look, my stock X returned xxx% for this year, but he did not share that the stock X over 10 years, the CAR might be negative xx%.

>>>>

calvintaneng

Happy morning to all genuine investors of Tsh Resources

All for or against Tsh have been posted here

Now we will know by May 2023 results what Calvin say is the truth or not

Until then we will wait

>>>>>


Very stu pid. Surely, if calvintaneng has the information, how many in the market also know this. Is this information not already reflected in the present price?

Quick short term bucker versus slow, steady grower

Sooner isn't always better.

A business producing quick, short-term bucks may not be more valuable than one that produces slow, steady growth.

The quick-bucker may be cyclical and go through years of diminished or even negative returns. Even though the quick-bucker produces a lot of value in the first few years, that may not be better than sustained growth and value produced later on by the slower, steadier comapny.

The quick-bucker may be relying on a technology or some other competitive advantage that could dissipate or dissapper altogether. Likewise, a company with a long-term and sustainable advantage, sometimes known as a "moat" keeping competitors away, may beat a company with very high but only short-term returns.

.... and safe.

Investing is simple but not easy. Keep it simple.

The following "how" questions can guide the appraisal of business returns.

How much?
How soon?
How long?
How consistent?
How valuable?


How much?

How many dollars of return will the business produce, either to distribute to shareholders or to invest productively in the business?

Key drivers are profitability and growth rates - and the collection of business factors that drive that profitability and growth.



How soon?

Big payoffs are nice, but if you have to wait 30 years for them, they aren't as valuable. Remember the time value of money.

If two companies produce the same return, but one does it sooner, that company has more value because those dollars can be reinvested elsewhere sooner for more return.




How long?

Although future returns have less value than current returns, they do have substantial value; and 20, 30, or 50 years of those returns can't be ignored, particularly in a profitable, growing business.



How consistent?

A company producing slow, steady growth and return is usually more valuable than one that's all over the map.

A greater variability, or uncertainty, around projected returns calls for more conservative growth and/or discounting assumptions.



How valuable?

Finally, after assessing potential returns (how much, how soon, how long, how consistent), you must assign a current value to those returns.

That value is driven by the value of the investment money as it may be used elsewhere. A return may look attractive - until the investor realizes that he or she can achieve the same return with a bond or a less risky investment.

Valuing the returns involves discounting (using a discount rate) to bring future returns back to fair current value. The discount rate is your personal cost of capital - in this case, the rate of return you expect to deploy capital here versus elsewhere.




Sooner isn't always better.

A business producing quick, short-term bucks may not be more valuable than one that produces slow, steady growth.

The quick-bucker may be cyclical and go through years of diminished or even negative returns. Even though the quick-bucker produces a lot of value in the first few years, that may not be better than sustained growth and value produced later on by the slower, steadier comapny.

The quick-bucker may be relying on a technology or some other competitive advantage that could dissipate or dissapper altogether. Likewise, a company with a long-term and sustainable advantage, sometimes known as a "moat" keeping competitors away, may beat a company with very high but only short-term returns.




Bottom line:

It's a combination of how much, how soon, how long, and how consistent.
The tortoise often beats the hare.

Intrinsic Value Basics
Theoretically and practically, the value received for owning a business or a security is the dollar return amount received over time from your investment.

That return may come
- as a single payment at the end of the ownership period for selling the stock or business,
- as payments at regular intervals during ownership, or
- (often) as a combination of the two.

But growth and time value of money have a major impact on the final valuation of equity investment returns. In fact, intrinsic valuation is a lot about assessing the effects of future growth on future returns and then assigning a present value to those returns.


The following "how" questions can guide the appraisal of business returns.

How much?
How soon?
How long?
How consistent?
How valuable?

Compound returns are the most precise and accurate reflection of your portfolio's bottom line and thus, they are of utmost concern for you.

Compound returns are a reference to the cumulative impact of gains or losses on your portfolio, they are a reflection of your ability in your investing and they are indications of how much money is in your account. Simple returns, on the other hand, are the returns that occur each day, month or year and are only a snapshot look at an investment's performance without regard to its history.


For example, if a portfolio is down 10% one year and up 10% the next, the simple return on this portfolio is 0% and the manager can report a "break-even" performance over these two years if he refers to his simple returns. However, when it comes to compound returns, which reflect the net effect to your account, the portfolio is actually down 1%. The loss in year one reduced the amount of capital invested for the following year and therefore, a higher performance was needed simply to return the investment to breakeven. It would take an 11% gain to make up for a 10% loss, regardless of the order of the gain/loss.

it is important to understand that managers can brag about simple averages but you can only spend compound returns.

Our goal is to execute safe investment strategies that capture the most of bull markets while preserving gains in bear markets to provide superior long-term compound returns.

>>>>>
calvintaneng

Bplant performed even better

it was recommended at 57 sen
after collecting over 20 sen dividend the holding cost now only about 34 sen

and at 67.5 sen closing price today bplant is up almost 100%

if sell now can almost make double

but no need to sell bplant as it is among palm oil dividend champion

however, Tsh offers better value now than bplant

>>>>>


A very dishonest way of calculating his returns.


Learning the wrong thing from his sifu.
No wonder. Stu pid to the power of infinity.

>>>
what you do not know you cannot comment properly

This method of Cost reduction by dividend was first taught by Johor Sifu in year 2006

He said

By buying into a high dividend paying stock the yearly dividend can be accrued and by subtracting Cost of purchase by accumulated dividends over many years can finally bring down cost to zero

after that the holding cost is FOC (free of charge) and will continue to get free dividends for like

Johor Sifu ID in i3 is MG9231

due to naysayers who knows nothing and opposed his valuable thoughts he has now deleted all his posts and left i3

that is a big loss

naysayers contribute very little positives and have done much harm and therefore should be banned
>>>>



Learning the wrong thing from his sifu.
No wonder. Stu pid to the power of infinity.

Portfolio Management

Portfolio management encompasses

- trading activity
- as well as the regular review of one's holdings.


In addition, an investor's portfolio management responsibilities include

- maintaining appropriate diversification,
- making hedging decisions, and
- managing portfolio cash flow and liquidity.



All investors must come to terms with the relentless continuity of the investment process.

Although specific investments have a beginning and an end, portfolio management goes on forever.

Investors in marketable securities will not have predictable annual results

Unlike many areas of endeavor, there is no near-annuity of profitable business, no backlog of upcoming investment returns.

Heinz ketchup will have a reasonably predictable volume of sales year in and year out. In a sense, its profits of tomorrow were partially earned yesterday when its franchise was established.

Investors in marketable securities will not have predictable annual results, however, even if they possess shares representing fractional ownership of the same company.

Moreover, attractive returns earned by Heinz may not correlate with the returns achieved by investors in Heinz; the price paid for the stock, and not just business results, determines their return.

There is nothing in the price action of the stock that tells you whether you should keep owning the stock. What tells you to keep owning it is - what do you expect the company to do in the future versus the price you are selling now and compare to the other opportunity which you think you know equally well and make the same comparison.

You can check your portfolio regularly to see how to optimise the stocks in your portfolio. There is nothing to stop you from checking this daily. However, don't do it too frequently.

There is nothing in the price action of the stock that tells you whether you should keep owning the stock. What tells you to keep owning it is - what do you expect the company to do in the future versus the price you are selling now.and compare to the other opportunity which you think you know equally well and make the same comparison.

You can check your portfolio regularly to see how to optimise the stocks in your portfolio. There is nothing to stop you from checking this daily. However, don't do it too frequently.

Portfolio Management - The Portfolio Management Process

The portfolio management process is the process an investor takes to aid him in meeting his investment goals.

The procedure is as follows:
Create a Policy Statement -A policy statement is the statement that contains the investor's goals and constraints as it relates to his investments.

Develop an Investment Strategy - This entails creating a strategy that combines the investor's goals and objectives with current financial market and economic conditions.

Implement the Plan Created -This entails putting the investment strategy to work, investing in a portfolio that meets the client's goals and constraint requirements.

Monitor and Update the Plan -Both markets and investors' needs change as time changes. As such, it is important to monitor for these changes as they occur and to update the plan toadjust for the changes that have occurred.

>>>>
Berlin

Honesty, integrity, objectivity do not go well with Calvintaneng; evasiveness, self denial and narcissism do. He cannot admit he can ever be wrong in his stock promotions. How can one believe a person with such personality traits?
>>>>


You hit him on the right spot. His personality traits.

>>>>>
calvintaneng

Actually this 3iii is the one "eager to impress"

going round passing disparaging comments on others to "show off"

why come only to Tsh ?
this one gave us 3 sen and 8 sen dividend and proposed another 2.5 sen dividend
>>>>>

Calvintaneng,

Just review the thread in Netx and be ashamed of your behaviour. Was it someone trying to impress or someone showing concern that the company NETX was not as you promoted? Be honest.

A reputation of 30 years can be brought down by a few seconds of dishonesty.

Calvintaneng,


There is this amazing guy in i3 investor forum.

One day, he asked you to buy counter X. He strongly believed in his analysis that it will go up many folds in its profits and share price. Another day, he would brandished his 10 stocks list, very sure that his analysis had spotted bargains that you cannot to ignore. Yet, another post of his try to guide you from a tsunami in the stock market. He has so much clarity and can foresee the future, he had to warn everyone to avoid the calamity. He liked to share how he had save his friends in the past and had also benefitted from his friend's advice in the 90s. He believed that his masters Neoh S K and Cold Eyes can do no wrong; whichever counters they are in, you should be in too. (Mind you, these 2 masters have been holding these stocks for decades before being pointed out by him.) When the BDI suddenly shot up, there too is our friend with his list of must buy counters, in particular, Maybulk. Again, he was so very sure. When KKY divorced his wife, he too configured how this would lead to a re-pricing of MUI stocks and he too got excited, telling everyone of his foresight analysis, predicting the upswing of these stocks. Of course, when NFCP was announced, he too had his list of stocks too, but he chose to go big in NETX, once again, as he was so sure of himself. When the ECRL was redrawn, he too came out with his list of counters that were going to benefit and which you should buy too.

In my final analysis, the above behaviour cannot be that of an intelligent investor.

Have a great day.

>>>>
calvintaneng

And better come clean and tell the truth

even pm corp promoted at 15 sen now is 21 sen after giving 8 sen cash payout - beat dlady handsdown as dlady fell from Rm72 to only Rm26 now

>>>>>


Yes the way calvintaneng calculated his returns on PMCorp is dishonest too.
calvintaneng is just too eager to impress.

>>>
calvintaneng

what you do not know you cannot comment properly

This method of Cost reduction by dividend was first taught by Johor Sifu in year 2006

He said

By buying into a high dividend paying stock the yearly dividend can be accrued and by subtracting Cost of purchase by accumulated dividends over many years can finally bring down cost to zero

after that the holding cost is FOC (free of charge) and will continue to get free dividends for like

Johor Sifu ID in i3 is MG9231

due to naysayers who knows nothing and opposed his valuable thoughts he has now deleted all his posts and left i3

that is a big loss

naysayers contribute very little positives and have done much harm and therefore should be banned

>>>>>


Such a dishonest way of calculating returns. Calvintaneng had done so repeatedly.

Calvintaneng attained notoriety in his promotion of NETX.

All the 'skills' he employed repeatedly in this forum can be gazed in that thread. Calvintaneng lacks credibility based on his past outcomes and often repeating same tactics frequently.

>>>>>
calvintaneng

Bplant performed even better

it was recommended at 57 sen
after collecting over 20 sen dividend the holding cost now only about 34 sen

and at 67.5 sen closing price today bplant is up almost 100%

if sell now can almost make double

but no need to sell bplant as it is among palm oil dividend champion

however, Tsh offers better value now than bplant

>>>>>


A very dishonest way of calculating his returns.

There is this amazing guy in i3 investor forum.

One day, he asked you to buy counter X. He strongly believed in his analysis that it will go up many folds in its profits and share price. Another day, he would brandished his 10 stocks list, very sure that his analysis had spotted bargains that you cannot to ignore. Yet, another post of his try to guide you from a tsunami in the stock market. He has so much clarity and can foresee the future, he had to warn everyone to avoid the calamity. He liked to share how he had save his friends in the past and had also benefitted from his friend's advice in the 90s. He believed that his masters Neoh S K and Cold Eyes can do no wrong; whichever counters they are in, you should be in too. (Mind you, these 2 masters have been holding these stocks for decades before being pointed out by him.) When the BDI suddenly shot up, there too is our friend with his list of must buy counters, in particular, Maybulk. Again, he was so very sure. When KKY divorced his wife, he too configured how this would lead to a re-pricing of MUI stocks and he too got excited, telling everyone of his foresight analysis, predicting the upswing of these stocks. Of course, when NFCP was announced, he too had his list of stocks too, but he chose to go big in NETX, once again, as he was so sure of himself. When the ECRL was redrawn, he too came out with his list of counters that were going to benefit and which you should buy too.

In my final analysis, the above behaviour cannot be that of an intelligent investor.

Have a great day.

Jalan Tembo's first andvonly post in i3 investor. Very interesting indeed. Welcome.

Wednesday, March 22nd, 2023 at Markets | News

by M JAY SHEILA

PPB Group Bhd stock has fallen close to RM1 in its most recent downward slide that began on March 7.

The stock ended at RM16.52 at lunch break today, down 14 sen or 0.8%, from its RM16.66 close yesterday with 121,300 shares exchanging hands.


The stock has fallen 98 sen or 5.6% since March 7 when it ended trading at RM17.50.

For the financial year ended Dec 31, 2022 (FY22), PPB’s revenues grew by 32% to RM6.15 billion compared to 2021. For the same period, its net profit was up 47% to RM2.2 billion.

In an exchange filing on Feb 28, PPB recommended a proposed final dividend of 28 sen per share for the financial year ended Dec 31, 2022, payable on June 8 to shareholders.

PPB Group is a Malaysian diversified conglomerate which engages in food production, agriculture, waste management, film distribution, property investment and development.

PPB top shareholders are Kuok Brothers Sdn Bhd with a 50.49% stake, Employees Provident Fund (EPF) (10.38%) and Nai Seng Sdn Bhd (3.44%). It has a market capitalisation of RM 23.53 billion.

https://themalaysianreserve.com/2023/03/22/ppb-stock-lost-nearly-rm1-since-march-7/?fbclid=IwAR3eAfHoFRidSsHD9Ul7FpKmrDKC5XjvoVn2OWkXHZw1Ro2-8K1vR7p4oTM

There is this amazing guy in i3 investor forum.

One day, he asked you to buy counter X. He strongly believed in his analysis that it will go up many folds in its profits and share price. Another day, he would brandished his 10 stocks list, very sure that his analysis had spotted bargains that you cannot to ignore. Yet, another post of his try to guide you from a tsunami in the stock market. He has so much clarity and can foresee the future, he had to warn everyone to avoid the calamity. He liked to share how he had save his friends in the past and had also benefitted from his friend's advice in the 90s. He believed that his masters Neoh S K and Cold Eyes can do no wrong; whichever counters they are in, you should be in too. (Mind you, these 2 masters have been holding these stocks for decades before being pointed out by him.) When the BDI suddenly shot up, there too is our friend with his list of must buy counters, in particular, Maybulk. Again, he was so very sure. When KKY divorced his wife, he too configured how this would lead to a re-pricing of MUI stocks and he too got excited, telling everyone of his foresight analysis, predicting the upswing of these stocks. Of course, when NFCP was announced, he too had his list of stocks too, but he chose to go big in NETX, once again, as he was so sure of himself. When the ECRL was redrawn, he too came out with his list of counters that were going to benefit and which you should buy too.

In my final analysis, the above behaviour cannot be that of an intelligent investor.

Have a great day.

How does PBB make money?
1. Through its net interest income (Less its provision for loan losses)
2. Through its non-interest incomes (fees)
3. Through its investments.

Any idea what investments are PBB holding today? More interested in its bonds and derivatives investment portfolio.

>>>
dumbMoney

Looks like management fees are higher than investors' returns! Any statistics on AUM over the years? This is not a CEF, so investors can come in or leave any time, at the buy/sell spread.

16 hours ago
>>>>

AUM of fund is not clearly stated.
Rather opaque.

ICIVF

This is another fund managed by ttb

ICIVF at a Glance
By 31 December 2022, the Fund has, from its inception in July 2009, delivered an annual compound return of 1.06%, net of expenses.
The cumulative total return of the Fund is 15.38%.


Comparative benchmark Total Return and Compound Return
MSCI ACWI(AUD)
Cumulative Total Return (%) Since inception 191.58%
Compound Return (%) Since inception 8.24%
ASX200(AUD)
Cumulative Total Return (%) Since inception 81.69%
Compound Return (%) Since inception 4.52%
ICIVF(AUD)
Cumulative Total Return (%) Since inception 15.38%
Compound Return (%) Since inception 1.06%



Fees
Performance Fee: 20.50% p.a. only chargeable if the following three criteria are met in the same period .....
Management Fee Approx. 1.5375% p.a. of the NAV
Administration Fee: Approx. 1.1272% p.a. of the NAV. These expenses are paid as and when they occur.




Where are the customers' yacht? :-)

Fluctuation of Bond Prices

Short-term bonds, defined as those with a duration of less than 7 years, are not significantly affected by changes in the market. This applies to US Savings Bonds, which can be redeemed at anytime.

Long term bonds, however, may experience wide price swings as a result of fluctuations in the interest rate. Thus, long term bonds may seem attractive when discounted, but this practice often leads to speculation and losses.

Low yields correspond with high bond prices and vice versa; prices and yields are inversely related.

The period from 1960 to 1975 is marked by reversing swings in the price of bonds so much so that it reminded Graham of Newton’s law: “every action has an opposite and equal reaction.” Of course, nothing on Wall Street actually occurs the same way twice.

Graham acknowledges the impossibility of attempting to predict bond prices, even if common stock prices were predictable. Therefore, the investor must choose between long- term and short-term bonds chiefly on the basis of personal preference.

If the investor wishes to ensure that his market values will not decrease, then the investor is best served by US Savings Bonds. With higher yield long term bonds, the investor must be prepared to see their market values fluctuate.

The biggest risk in owning a bond is: INFLATION. With stocks, over the very long term, you can keep up with inflation and make a decent profit to boot. With bonds, you can't.

You cannot compare the yield on an equity to the yield on a bond because one includes no risk of a capital loss (no risk of a gain either) and the other contains a currently huge perceived risk of a capital loss (or gain).

Promoting income stocks because they yield more than a bond is ignoring that extra risk and misunderstanding why people are now in bonds and term deposits. They are there because they don't want to lose any more money. Because they don't want volatility.

The only way to compare equities to bonds or equities to term deposits is
- if the equities came with a price guarantee, which they don't, or
- if you compare risk-free yields with the expected total return from equities, which includes the extra volatility and risk and not just the dividends.

In the current market, equities are nothing like a bond or term deposit because share-price risk is dominating the investment decision not the yield. Do you really think people are in term deposits to make 5.5 per cent? No, they are in term deposits to avoid losing money. The focus is on the risk not the return. Risk rules.

https://www.multpl.com/shiller-pe

Shiller PE Ratio

Current Shiller PE Ratio: 27.99 +0.45 (1.65%)
4:00 PM EDT, Tue Mar 14
Mean: 17.01
Median: 15.91
Min: 4.78 (Dec 1920)
Max: 44.19 (Dec 1999)
Shiller PE ratio for the S&P 500.

Price earnings ratio is based on average inflation-adjusted earnings from the previous 10 years, known as the Cyclically Adjusted PE Ratio (CAPE Ratio), Shiller PE Ratio, or PE 10 — FAQ.

Data courtesy of Robert Shiller from his book, Irrational Exuberance.

No one knows what any market will do in the future.

Investing isn't easy, but the important parts are simple.

Buy an asset when it's expensive, and future returns will likely be low.
Buy cheap, and you'll probably do all right.

There are ups and downs and booms and busts and lost decades throughout, but a basic appreciation of how valuation dictates the future can go a long way.

>>>>
Plantermen

Many thanks to the people who have read my posts. Not a sifu neither an expert but just sharing my own view on whatever we come across on this platform. It's our best interest and advisable not to hold too many counters.
>>>

Have a concentrated portfolio of stocks.

>>>
Your holdings if possible split it into trading account, dividend yield and growth stocks. Stock selection should focus or based on what you know best.
>>>>

Buy what you know.

>>>
Too many counters may cloub your judgements when you decide to trim your position { during a down turn} RIDE with the bull during boom times and be cautious whenever uncertainties hit the market.
>>>>

Your only protection is to know the value of the company you invest into and not to take the price in the market as your guide to value, unthinkably.

>>>
Think long term what will happen if the problem persist or will the sentiment turn. Most important set your own trading target. Most investment guru tell us always ride your profit but cut your losses. Whatever target you set really depends on your risk appetites. Some anaylst tell us better cut your losses if {the counter drops more than 25%} there must be a reason why a particular counter surge or drop. Mr Market knows best. Happy trading and best wishes & greetings to everyone who is reading this post
>>>>

Stay long term. Most of your money is made in waiting and not in trading in and out. If you know the company's business and has selected the company for the right reasons to invest into, you rarely have to sell it.

>>>
OneOracle

Buffett began reducing his holdings of Wells Fargo two years ago and cleared his position last year.

https://www.forbes.com/sites/nicholasreimann/2023/03/10/wells-fargo-customers-report-missed-paychecks-due-to-apparent-glitch/

>>>

The predatory activities of the previous CEO of Wells Fargo led to his resignation. After that, Buffett has been reducing his stake in Wells Fargo.

Ironically, Wells Fargo maybe the " safest" bank today because it had to regularise its previous un- ethical practice during the recent years.

>>>
OneOracle

Buffett began reducing his holdings of Wells Fargo two years ago and cleared his position last year.

https://www.forbes.com/sites/nicholasreimann/2023/03/10/wells-fargo-customers-report-missed-paychecks-due-to-apparent-glitch/

>>>

The predatory activities of the previous CEO of Wells Fargo led to his resignation. After that, Buffett has been reducing his stake in Wells Fargo.

Ironically, Wells Fargo maybe the strongest bank today because it had to regularise its previous unethical practice during the recent years.

>>>
SEERESEARCH2023

why promote palm oil counter every now and then during the wrong timing ?
Why promote even though the counter no longer in rising trend.
Why always come and bring to some counter by ur simple expired data?

1 day ago

>>>


Because calvintaneng's buying price is higher than the present market price.

There are many geniuses in a bull market!

calvintaneng,
why don't you show us why PPB is trading at a higher PE thanTSH?

You may be a be-tter investor after understanding your analysis. Hopefully.

....If you must play..

Avoid crypto. It is not investing.

If you must pay (speculate/greater fool) put small amount and never add more to it. Be prepared also to lose everything too.

>>>>

calvintaneng
calvintaneng
From Singapore Investing experience Advanced Risk profile Low
Summary
Total comments 140
Past 30 days 6
Past 7 days 4
Today 0
User Comments

Blog: Bumitama Agri- Disappointing End to the Year; D/G to NEUTRAL

Mar 3, 2023 9:26 PM | Report Abuse

FCPO noe above Rm4350 will see good profit of more than 130% as cost of Cpo production only Rm2000 a ton

https://www.tradingview.com/symbols/MYX-FCPO1%21/

>>>


Interestingly, i3 Singapore is so so quiet.
calvintaneng tried promoting his style there, and people just ignored.
His last post of 3.3.3023 still remained the latest post in that forum.

Shocking!!! We now know why he has to come to the Malaysian site.

I would have thought the Singapore stock market should be more exciting, with international players and better oversight by the authority. Moreover, the Singapore dollar continues to appreciate.

>>>>
Posted by Plantermen > 49 minutes ago | Report Abuse

Without disrespect to any stock guru or sifu. Land registration and ownership in Indonesia is a very complicated, complex and costly affairs for foreigner's owned companies or even locals. Technically all the forest lands, reserve or plantations usage are divided and admin under the BPN. Land usage is split under HGU, HP, HM, HS, HGB, HMT plus local customary ownership overriding rights. Estate development need to set aside 20% of the land to Plasma settlers for development {akin to our Felda scheme} All lands technically belongs to the state. Lease is for 33 years which can be extended by the State for another 30 years. HGU { Hak Guna Usahs} is the most common form of ownership. Rights to exploit for commercial rural agriculture development. Forest reserve lands development are restricted and palm oil cultivaction are not allowed. Only certain categories of agriculture are allowed eg. rubber , cocoa and coconut. HS { Hak Sewa} is basically land under lease. Sounds complicated yes. A very complex and complicated system where on or off new admin laws are either revised or amended to protect local interest
>>>>


Thanks for sharing this here with calvintaneng of Netx fame.
calvintaneng suffers from emotional lability: often exhibiting manic episodes.

Price of CPO up and he will be promoting plantations. It is obvious to me he only got interested when and after the prices had risen and the present prices are below his buying prices.

Other manic episodes of calvintaneng ( too many to mention) are:

ECRL rerouting: he came out with a list of companies that will benefit from this. What happened since?

Baltic Dry Index(BDI) skyrocked: he shouted he bought the relevant stocks. The sky is the limit. What happened since?

BDI dropped quickly: he shouted that he warned everyone to sell. What a hero? What has happened since?

Berjaya appointed a new CEO: yes, calvintaneng was chun chun predicting big improvements to come. A must buy, often he will tell you not to follow him is stu-pid. (But always remind yourself: CALVINTANENG IS THE HERO OF NETX FAME). What happened subsequently?

NFCP implementation: calvintaneng slept with the worst company of any. After all, he spoke to a Ms Penelope. He was absolutely wrong and sadly all who posted intelligently, their posts were deleted by calvintaneng and his supporters. Shameful and disgusting behaviour of calvintaneng on display for 2 years can be seen in his arguments in NETX. Rightfully, calvintaneng is honoured as the hero of NEXT fame, albeit a naked one.

MUI chairman settled his divorce proceedings and new CEO appointed: Yes, calvintaneng shouted again. Good things coming. All must follow him. :-)

Glove prices up: Yes, calvin declared he too was into Supermax. He then sold at its peak. :-) This we can see and give him credit a bit.


Good morning. We continue to learn everyday.

>>>
calvintaneng

Tsh versus Dlady

1. Tsh is selling at discount below Nav with margin of safety
dlady is far above Nav with no margin of safety
>>>>

Why is DLady selling at a premium to its NAV and why is TSH selling at a discount to its NAV?


>>>>
2. Tsh cash position gets better and better while Dlady cash position deteriorating from bad to worst
>>>>

DLady has a huge capex ahead. It had distributed a lot of dividends over many years. It has to use its generated cash to fund its capex: hopefully this will be enough and it need not have to raise funds through borrowings or through the capital market. Accordingly, dividends are cut.
TSH borrowed a lot to grow. But its ROE is so low. Cost of capital is higher than its Return on its capital. Selling asset and monetising this is a good move by its management. It pared down its debts substantially. Otherwise, with the increasing interest rates in future, its business might be harmed. Its business future growth is unlikely to be exciting.

>>>>
3. Tsh is giving it's best ever dividend while Dlady shrink it's dividend to little or nothing
>>>
The normalised earnings of TSH will remain flat. One off other income from selling off assets may excite calvintaneng (seems to be a recurrent stimulant for him in many counters: he never learned well), but this is non-recurring. It is one off, and you cannot use it in your DCF analysis of intrinsic value. ;-)
Those in DLady has to be patient and can only see, hopefully, light at the end of 2 or 3 years. You invest into the long term earning power of a company. I cannot assess this for you, as it is based on your own analysis. Do you believe in the management ability to deliver? Are the major shareholders bailing or ploughing more into DLady? What are the SWOT of DLady going forward?
Remember Carlsberg. There was one year when Carlsberg did not pay dividend. They had a very valid reason for this. They used the dividend to acquire its business in Singapore. This acquisition has paid off for Carlsberg to date.
Similarly, the huge capex of DLady will mean no or meagre dividends for DLady shareholders going forward. You should still focus on the business of DLady. Will it be in the position to generate increasing healthy profit which translates into healthy free cash flows?


4. Tsh profits get better while Dlady report a loss
Yes, calvintaneng is excited for the short term.
>>>>

By all yardstick of Eps, Dividend and discount to Nav Tsh beats dlady handsdown
>>>>