>>>
Posted by calvintaneng > 12 hours ago | Report Abuse

As long as DC (Data Center) continue to proliferate Notion, Jcy and Dufu should continue its bull run
Watch Western Digital, Seagate and Nvidia perform to see the Hdd bull trend
>>>


High risk, low reward

My protection:

For every 500 companies screened
Saying NO to 200 companies
Saying YES to 1 company

😀

Projected EPS for next year: 140 sen - 160 sen
At today's price of RM 38 per share, its projected PER is 27 to 23.7

Hoperfully, DLady will soon normalise its gross profit margins soon and with its increasing revenues, this will translate into even higher earnings and EPS.

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Stockraider

Hasn't posted for a month. Hope all is well with him.

🤔

Learn from history.

The mainland Chinese are now so much better than their parents and grandparents. We applaud and rejoice their successes. Lifting such a big population out of poverty is a great achievement.

Tiananmen incident is repeatedly used by the detractors to run down mainland China. The majority of the mainland Chinese rightly support their government of the day.

The 4Cs

Chun, chun, chun, calvin

calvintaneng comes out again with another of his projections. This is just classic of this chap.

ECRL Project: He came up with a long list of companies that will benefit from this project, due to their lands being proximal to this project. What happened?

National Fibre Project: He came out with a list of companies. Remember what happened to NETX.

Plantation stocks: He too came out with a long list of plantation stocks that he was convinced will be multiple winners. We know his TSH sank from $1.78 to $1.05.

Now, he is into data centers and he too has a long list of companies that will benefit.

My observation is he is a very imaginative person indeed.

Good morning. 😀😀

calvintaneng comes out again with another of his projections. This is just classic of this chap.

ECRL Project: He came up with a long list of companies that will benefit from this project, due to their lands being proximal to this project. What happened?

National Fibre Project: He came out with a list of companies. Remember what happened to NETX.

Plantation stocks: He too came out with a long list of plantation stocks that he was convinced will be multiple winners. We know his TSH sank from $1.78 to $1.05.

Now, he is into data centers and he too has a long list of companies that will benefit.

My observation is he is a very imaginative person indeed.

Good morning. 😀😀

It is not necessarily a problem for a company to spend heavily on capex, as long as the capex is earnings a decent ROCE.

However, capex that is consistently much higher than depreciation with no improvement in ROCE is rarely the hallmark of a great company.

Essentially, MYEG's capex is high. Mostly for developing new businesses. It has taken on more debts. OTOH, its Return on capital employed remained in the high teens and even increased, which is reassuring that its investments have not been in vain.

No track record to judge this company. Investing into this company is based on pure speculation and blind-folded too. 😀😀😀

You can always wait 5 years to have another look at this counter, and it will still be alright for your investing. Patience is so important in investing.

(RM m)
FISCAL YEAR ENDING 2023 2022 2021 2020 2019
NET INCOME 487.65 398.66 315.94 268.66 242.47
FREE CASH FLOW 491.76 228.93 79.66 242.61 83.84

CAPITAL EMPLOYED 2,919.50 2,617.00 2,504.00 2,467.00
ROCE 16.70% 15.23% 12.62% 10.89%

TOTAL EQUITY (Book Value) 2,209.00 2,090.00 2,016.00 1,904.00 1,872.00


CASH AND EQUIVALENT 84.00 399.00 252.00 215.00 76.00
ST DEBT & CURRENT PORTION OF LT DEBT 145.00 141.00 161.00 162.00 158.00
LT DEBT 737.00 722.00 412.00 423.00 325.00
TOTAL DEBT 882.00 863.00 573.00 585.00 483.00
NET CASH (DEBT) -798.00 -464.00 -321.00 -370.00 -407.00

calvintaneng knows very little about this company's business. Not within his circle of competence. In fact, the whole plantation sector, calvintaneng talks a lot of non-sense.

>>>
Public bank abandoned the ship.

KUALA LUMPUR: Public Investment Bank (PublicInvest) is ceasing its coverage of TSH Resources Bhd due to the company's limited growth prospects and sluggish fresh-fruit bunches (FFB) yield.

The firm said it is reallocating its internal sources to other sectors.
>>>>



>>>
In a research note today, PublicInvest said FFB production growth is anticipated to be subdued this year due to the sale of plantation assets in Indonesia and Sabah (13,214 hectares) over the past two years.

"Additionally, the average age of the plantations is increasing (currently 13.4 years old), and FFB yield remains low due to insufficient replanting activities in recent years," PublicInvest said.

Additionally, TSH Resources encountered significant crude palm oil (CPO) taxes when exporting its CPO products due to the current unfavourable CPO export tax policy in Indonesia.
>>>>

While calvintaneng promoted TSH from 1.78 to 1.05 (today), he simultaneously demoted DLady from 20.00 to 36 (today).

Last 52 wk price range 20 to 36.

Today, closing price RM 36.

😀

Last 52 wk price range 20 to 36.

Today, closing price RM 36.

Debt increasing.
FCF anaemic.

Zetrix co-founder Wong Thean Soon said it is thrilled to partner with Web3Labs, a trusted leader in the Web3 space.

“This collaboration will add immense value to Zetrix and provide invaluable support to the burgeoning Web3 ecosystem with key stakeholders in HK.

“Zetrix and its international supernode on China’s national public blockchain, Xinghuo BIF is the natural choice for Web3 decentralised applications (DApps) that serve the objectives of HK Special Administrative Region (SAR) to be a global crypto hub,” he said.

Echoing Wong’s sentiment, Web3Labs chief executive officer Caspar Wong said it is excited to welcome Zetrix as a strategic partner.

“Their commitment to aligning with the HK vision and fostering innovation makes them the perfect platform for building impactful Web3 solutions.

Jan 22, 2024 MyEG Services Bhd’s (MyEG) Zetrix, Web2Labs Hong Kong and Summer Capital are teaming up to to advance Hong Kong’s Web3 initiatives. Blockchain strategy and technology company Web3Labs leverages its network of over 500 partners throughout the Web3 ecosystem including government bodies, institutions, investors, exchanges and media outlets to foster additional growth and innovation facilitated by the city state. The key objectives of this collaboration among others is to enhance Zetrix as the preferred Layer-1 platform for blockchain applications aligned with the HK’s government’s Web3 vision and catalysed by further collaborations with industry and business communities.

Jan 22, 2024 MyEG Services Bhd’s (MyEG) Zetrix, Web2Labs Hong Kong and Summer Capital are teaming up to to advance Hong Kong’s Web3 initiatives. Blockchain strategy and technology company Web3Labs leverages its network of over 500 partners throughout the Web3 ecosystem including government bodies, institutions, investors, exchanges and media outlets to foster additional growth and innovation facilitated by the city state. The key objectives of this collaboration among others is to enhance Zetrix as the preferred Layer-1 platform for blockchain applications aligned with the HK’s government’s Web3 vision and catalysed by further collaborations with industry and business communities.

The group continues to record commendable earnings growth premised on the Zetrix platform. The progressive effort to introduce new services using blockchain technology would further translate into better yield for the group. Note that this is on top of the existing e-government services which serve a good earnings base for the group. At the current rate, the house is of view that there is a high chance that earnings from Zetrix would take over the overall income from e-government services.

The group continues to record commendable earnings growth premised on the Zetrix platform. The progressive effort to introduce new services using blockchain technology would further translate into better yield for the group. Note that this is on top of the existing e-government services which serve a good earnings base for the group. At the current rate, the house is of view that there is a high chance that earnings from Zetrix would take over the overall income from e-government services.

Myeg’s 1QFY24 earnings grew strongly by +47.2%yoy to RM156.0m. This was mainly attributable to the stronger growth in revenue as well as the decline in operating expenses (-10.7%yoy). The improvement in revenue to RM232.9m was mainly supported by: i) contribution from Zetrix blockchain platform; and ii) contribution from the sale of Zetrix tokens.

Myeg’s 1QFY24 earnings grew strongly by +47.2%yoy to RM156.0m. This was mainly attributable to the stronger growth in revenue as well as the decline in operating expenses (-10.7%yoy). The improvement in revenue to RM232.9m was mainly supported by: i) contribution from Zetrix blockchain platform; and ii) contribution from the sale of Zetrix tokens.

Myeg’s 1QFY24 earnings grew strongly by +47.2%yoy to RM156.0m. This was mainly attributable to the stronger growth in revenue as well as the decline in operating expenses (-10.7%yoy). The improvement in revenue to RM232.9m was mainly supported by: i) contribution from Zetrix blockchain platform; and ii) contribution from the sale of Zetrix tokens.

https://www.businesstoday.com.my/2024/05/30/myeg-could-see-earnings-from-zetrix-overtake-e-gov-services/

First rule of investing: avoid lousy companies. Don't spend time on these. Warren Buffett says,he is able to know them in less than 5 minutes.

>>>
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Latest quarter Revenue 363m. Earnings 27m NPM 7.4%

Q3 2015. Revenue 250m. Earnings 49m (peak qtrly earning) NPM 19.6%
>>>

Why I continue to like this stock ....
When NPM expanded by 1% from 7.4% to 8.4%, its earnings increased disproportionately by 13.5%.
Faham tak!

Latest quarter Revenue 363m. Earnings 27m

Q3 2015. Revenue 250m. Earnings 49m (peak qtrly earning)
O

When a promoter cannot see the zero value of NETX at the time of his promotion, the best thing for the followers are to ignore and to do their own analysis.

Calvintaneng promoted and bought at 1.78!!!! What was cheap go cheaper. Why?

Can you fathom why it cannot distribute higher dividends?

2023

Net income 135m
D&A 10.6m
Capex -4
FCF 142m
Purchase of investment -129m


Dividend 17m

>>>
In the past, when nearly all the shareowners of icapital.biz Berhad were individuals, its share price traded at a premium to its NAV. In the coming years, I pray that this can be repeated so that your Fund can finally restore its real value. In that context, I would like to make a plea to the few recalcitrant investors (for the lack of a better term to describe them) not to act disruptively and destructively.
>>>

Why and when should a closed end fund trade at a premium?
As a value investor, he would like to buy at a discount.
It is easy to value a closed end fund, is it not?

DATO' DR TAN KEE KWONG 22-Apr-2024 Disposed 200,000 -
DATO' DR TAN KEE KWONG 18-Apr-2024 Disposed 100,000 -
DATO DR TAN KEE KWONG 22-Mar-2024 Others 600,000 -


This director cashed out half his share holdings.

When interest rate goes up, asset values are expected to drop. Something to do with the value of an asset is the discounting value of all the cash flows from these assets by a higher discount factor.

How do we explain the last 2 years US stock market behaviour? The FED increased the interest rates and yet the US stock market climbed higher and higher.😃

VALUATION
FISCAL YEAR ENDING 2023
LATEST NOSH (DILUTED, millions) 7,426.03
PRICE (ADJUSTED) 1.01
MARKET CAP (millions) 7,500.29

NAPS 0.30
EPS 0.07
P/B 3.40
P/E 15.38
EARNINGS YIELD 6.50%
FCF YIELD 6.56%
DIVIDEND YIELD 1.40%
ROA 15.76%
ROE 23.33%
DPO RATIO 21.59%

Today, Velesto is performing. Challenge - how to get to net carbon zero? How to invest into renewables? No plan for now.

Is Velesto price fully valued?
It is more expensive than other comparables.
Sustainable returns to shareholders? Little growth going forward.

How to bring value to shareholders? No plan for inorganic growth.

O&G is cyclical. Stay in upstream. Looking into production space. Operating expenditures only, not heavy capex needed. More sustainable. Must be asset light (based on recent past experience, victim of recent downturn in O&G).

Future: Focus on Asset light and Production.


Jaguh kampong! Dependent on Petronas (eg Sapura Kencana, others)
All 6 rigs operating in Malaysia. Is it able to compete internationally?

How to improve return to shareholders?
Utilisation rate is now 85%, where is the growth?
M&A? Rigs are very expensive. Not looking to increasing the number of rigs.

Can EBIT margin of 4th qtr of last year be maintained?

Short charter rate versus long term charter rate are different.

Presently, the situation is everyone wants rigs!

Daily charter rate near all time high.
High deployment of almost all their jack-up rigs.
Reported big free cash flow in latest results.
Distributed a dividend after many years of zero dividends.
Turnaround. Price has risen 100% from its lowest.

Cyclical business directly related to oil price.
Oil price is projected to be high for the near term.
Sustainability? Stability? Dependent on Petronas for contracts.
Focus on long term contracts. Revenues and profits visible for the next 2 years (2024 and 2025) for now.

For the last 12 quarters, its revenues grew q-q and y-y in 10 qtrs out of the 12 qtrs.

htt ps:/ /myinvestingnotes.blogspot.com/2024/04/myeg-at-glance.html

Investor's Checklist: Business Services

Understand the business model. Knowing if a company leverages technology, people, or hard assets will provide insight as to the kind of financial results the company may produce.

Look for scale and operating leverage. These characteristics can provide significant barriers to entry and lead to impressive financial performance.

Look for recurring revenue. Long-term customer contracts can guarantee certain levels of revenue for years into the future. This can provide a degree of stability in financial results.


Focus on cash flow. Investors ultimately earn returns based on a company's cash-generating ability. Avoid investments that aren't expected to generate adequate cash flow.

Size the market opportunity. Industries with big, untapped market opportunities provide an attractive environment for high growth. In addition, companies chasing markets perceived to be big enough to accommodate growth for all industry participants are less likely to compete on price alone.

Examine growth expectations. Understand what kind of growth rates are incorporated into the share price. If the rates of growth are unrealistic, avoid the stock.



(Example: MYEG leverages on technology.)

RANKING IN TERMS OF EARNINGS

BANKS: MBB> CIMB > PBB> HLB> HLFG> RHB> AMBANK

PLANTATIONS: SIME PLT> PPB > IOI CORP > KLK

TELECOMMUNICATIONS: TM > CDB > MAXIS > AXIATA

POWER: YTL POWER > TENAGA > PETGAS > PCHEM > PETDAG

OTHERS: SIME > IHH > MISC > YTL > PMETAL > GENTING > NESTLE > MRDIY > GENM > QL

NAME ### MCap.(M) ### Earnings ### Dividends ### DPO
MAYBANK ### 118,738.81 ### 9,349.51 ### 7,243.07 ### 0.77
CIMB ### 72,729.84 ### 6,979.83 ### 4,589.25 ### 0.66
PBBANK ### 81,719.01 ### 6,649.23 ### 3,685.53 ### 0.55
HLBANK ### 42,704.05 ### 3,910.63 ### 1,276.85 ### 0.33
SIME ### 19,288.14 ### 3,738.01 ### 885.33 ### 0.24
YTLPOWR ### 39,918.41 ### 3,343.25 ### 491.00 ### 0.15
IHH ### 55,572.12 ### 2,951.25 ### 1,639.38 ### 0.56
HLFG ### 20,104.50 ### 2,913.70 ### 562.93 ### 0.19
RHBBANK ### 23,574.91 ### 2,806.54 ### 1,713.90 ### 0.61
TENAGA ### 72,225.90 ### 2,770.46 ### 2,665.14 ### 0.96
MISC ### 36,513.83 ### 2,122.90 ### 1,606.61 ### 0.76
YTL ### 36,972.87 ### 2,006.12 ### 439.98 ### 0.22
TM ### 24,023.55 ### 1,870.99 ### 958.54 ### 0.51
SIMEPLT ### 30,982.40 ### 1,859.69 ### 1,037.91 ### 0.56
PETGAS ### 35,933.77 ### 1,819.43 ### 1,422.98 ### 0.78
AMBANK ### 13,985.86 ### 1,818.71 ### 606.99 ### 0.33
PCHEM ### 55,280.00 ### 1,696.23 ### 1,039.26 ### 0.61
CDB ### 48,099.18 ### 1,552.09 ### 1,548.79 ### 1.00
PPB ### 22,619.32 ### 1,394.53 ### 597.15 ### 0.43
PMETAL ### 44,329.15 ### 1,214.50 ### 576.28 ### 0.47
MAXIS ### 28,195.48 ### 993.15 ### 1,251.88 ### 1.26
PETDAG ### 21,736.77 ### 943.03 ### 795.57 ### 0.84
GENTING ### 17,407.26 ### 929.38 ### 581.40 ### 0.63
IOICORP ### 25,643.61 ### 874.02 ### 692.38 ### 0.79
NESTLE ### 30,086.35 ### 658.20 ### 628.80 ### 0.96
KLK ### 25,408.58 ### 618.21 ### 660.62 ### 1.07
MRDIY ### 16,724.25 ### 560.65 ### 302.71 ### 0.54
GENM ### 15,498.30 ### 436.82 ### 891.15 ### 2.04
QL ### 15,989.13 ### 412.41 ### 171.08 ### 0.41
AXIATA ### 26,719.38 ### -1,995.47 ### 1,285.20 ### -0.64

DATE --- KLCI INDEX --- M. CAP m (T30)
7.5.2024 --- 1,605.76 --- 1,118.72
28.8.2021 --- 1,601.38 --- 1,053.84
19.6.2020 --- 1,503.19 --- 964.98
5.3.2020 --- 1,491.03 --- 960.89
6.7.2018 --- 1,663.86 --- 1,028.10
18.1.2018 --- 1,824.81 --- 1,118.64
10.12.2017 --- 1,721.25 ---
2.11.2017 --- 1,742.49 --- 1,059.87
3.1.2014 --- 1,804.03 ---
7.6.2013 --- 1,775.59 --- 934.17
11.1.2013 --- 1,682.70 --- 902.68
19.10.2012 --- 1,666.35 --- 871.09
28.1.2010 --- 1,264.51 ---
9.7.2009 --- 1,065.68 ---
3.7.2008 --- 1,153.70 ---


When and how long was iCap in cash and bearish in the market over the last decade?
When and how long iCap recently turned bullish in the Malaysian market?

Portfolio of XXX14.08

Stock % Shares Position Change Value Record Date Report Year
PBA 0.30 1,000,000 - 2.15M 29 Mar 2024 2023
DKSH 0.25 400,000 NEW 1.93M 29 Mar 2024 2023
KFIMA 0.27 742,000 88,000 1.57M 26 Jun 2023 2023
PTARAS 0.48 800,000 - 1.26M 25 Aug 2023 2023
TONGHER 0.34 520,000 - 1.25M 27 Mar 2024 2023
PERSTIM 0.31 400,000 75,000 1.14M 30 Jun 2023 2023
FAVCO 0.21 485,000 NEW 1.10M 29 Mar 2024 2023
CHINWEL 0.26 750,000 150,000 908K 29 Sep 2023 2023
THPLANT 0.14 1,200,000 - 798K 20 Feb 2024 2023
FM 0.23 1,279,800 406,300 768K 29 Sep 2023 2023
SUBUR 0.41 778,900 - 697K 29 Mar 2024 2023
SUCCESS 0.22 500,000 - 498K 02 Oct 2023 2023

>>>
In such a future, it is reasonable to expect that icapital.biz Berhad’s NAV will more than double in 5 years – in the past, icapital.biz Berhad’s NAV has outperformed the KLCI by a big margin. In such a bullish market, ICAP’s discount will also disappear and a premium will arise.
>>>


?????

Insiders and KWAP loading up on this stock.