the revenue won't just be cancelled that way, most likely be switched to singapore operations

According to annual report 2014, Bat Malaysia revenue is about RM55 mil, only 15% of its total revenue

http://disclosure.bursamalaysia.com/FileAccess/viewHtml?e=2656825

It says here bat will source the supplies from other regional factories, which could be Singapore and Australia, where tienwah is also doing business for bat there. So the volume will only switch from Malaysia to other factories, instead of diminishing.

Daniel said for the forex losses in 1Q 2015, it was due to exchange rate of RMB to Ringgit, however he did not explain in details how it incurred.

@idahow69, I think we should look at our investments from business perspective. When you are doing business, knowing your clients' business hasn't that great recently, and to build relationship and long term business prospects, what do you do? You give them convenience and credit facility.

All these developers are here for the long term, they aren't the hit and run type of companies. Payment to suppliers and contractors will be slow, that's for certain, but they won't default on payments. If they do, how are they going to survive in the industry with bad reputation and poor supplier & contractor relationship?

Write off, yes, it will happen, as do in any other businesses, but i think it won't be much, unless you're starting to see developers in Malaysia and China going down one by one.

Don't worry about the short term fluctuation, just focus on a longer term outlook and ride the trend. Not only for ifca, but also for other companies as well. However the technical analysis tells, the long term trend is always driven by fundamentals of the macro economy and the companies themselves.

@ozzie75 , yay I agree with you the forex losses should be due to operational costs. I will try to attend the AGM as proxy to seek clarification from the executives.

@limayseng, the way you value stock price and PE will let you miss out a lot of great investment opportunities. PEs are high for a reason, and PEs are low for a reason.

@ozzie75, Orionpacific, AT, thanks for sharing your thoughts and insights.

I am also holding from 37cents till now (all warrant only), and after through the rise and fall throughout Oct, Nov and Dec, it only cemented my belief to invest rather than to trade in growing companies on a longterm view.

Adopting a long-term horizon and dismissing the "get in, get out and make a killing" mentality is a must for any investor. - Investopedia.

Will just closely monitor anything that relates to its fundamental, and hope for the best.

Wah, was really surprised by the slump in price... but well, it's part of long term investment - short term drastic fluctuation in prices.

Less than 100 gainers at morning session, kinda remind myself of last Nov and Dec bear, where most fundamentally promising stocks also cannot avoid the negative sentiment across the market, and also the eventual rebound, and breaking new highs when the market recovered.

US fed fund rate will only be raised earliest in Sept, and even when raised, will take 2 - 3 years to get back to normal rate, about 2%, which is still low for the capital market. I think the market will recover soon, but our jibgor please doesn't come kakacaucau...

@Alpha Trader & ozzie75, thanks for the explanation. Seems like it is a really complex issue and need to be clarified on the AGM.

Anyway, I found this article, which I think the foreign exchange losses is most probably due to intercompany accounts (maybe investment on new offices, lending or inventories), just a share of thought. http://journalofaccountancy.com/issues/2012/feb/20113891.html

I still firmly believe the prospect of the company, due to its upcoming EPS will surely be another record breaking quarter. It has to be, otherwise Ken Yong would have already billed all the projects, push up the share price and distribute to the retailers. The way he plans for the timeline of everything, from unbilled amount, launching of SaaS in June (will only know how well it does in 3rd Q), the possible transfer to MB and M&A in second half of the year, it all points to gradual release of good news and catalysts to sustain the sentiment and prospect of the company. I believe he is into real big thing and we are seeing another Inari / Myeg in the making.

Mr. Nobody, it is a new account, but just an account from a FA newbie and longtime investor of Ifcamsc, not friend of former CFA though. :) I was trading based on TA all the time and only realised the importance of FA after started investing in this company.

What i was trying to ask was, could any sifu here explain on its foreign currency translation loss? How should we read it and hope i can continue to learn more from everyone here.

How do you see the effect of foreign exchange rate changes? Before the result was announced I was expecting it will benefit maybe a bit from the strength of RMB and Sgd, yet turned out it suffered foreign currency translation losses of RM1.3 mil.

Its overseas revenue is about RM6 mil for the quarter, and it would take a 20% appreciation of Ringgit to result in negative RM1.3 mil of foreign currency translation. However from Dec 2014 to Mar 2015, our Ringgit didn't have such drastic movement against RMB, Rupiah, or Sgd at all.