A great and respectful investor is not measured by its qualification but rather the philosophy he carries.Cheers

Dear Derrickinvestor

Every investor has their own strategy and no one know who is right and who is wrong before they conclude a deal. Entering 90 cents level during December and I think mostly because of the BIMB WA is in the strong uptrend that time and thus we might be have a feeling of losing the boat.That mean you are translating your entry price to 4.67 gearing which is also consider high in Malaysia warrant market.However,90 cents will not be a bad decision and its depends on our own strategy to invest. As mentioned by many forumers,the long term value of BIMB WA might have the possibility to go above RM 4.5 in 6 years time (avg gain of 50% pa.)which I think it should not be problem if the the business performance for the BIMB remain intact.I am even suggesting friends around my to accumulate at this price because the reasons that I state in my previous comments.You can average the cost down as well with current good pricing.We should act when people are fear and we should know the reason why BIMB WA price is weak while BIMB perform a strong base.

Shariah and no shariah for me is not the issue so long I can see the value in the equities.

At the current gearing of 6.69,I do not see why it is not the good buy.

Cheers

Buying BIMB WA will not enable us to enjoy dividend. However,BIMB WA will be very good alternative to ride on the growing Islamic banking sector with its high gearing. It is even great if you wish to have a look over previous comments by other forumers as i believe you will be benefited from that.Cheers.

Dear n00bpelabur

The Prospect for BIMB is attractive for both short term (6 months) and long term (3 years) play.However,it is preferable to buy BIMB WA as well due to its high gearing (6.5).

Dear LuvLuv and friends.The MRCB and MRCB WA still a good buy due to facts posted by Vin Cullen and HongHero.

What we need is to wait for the easterly wind to realize.

Cheers

haha.Icon8888.You will find a strong contenders here if the price drop to 0.50.You probably see me naked then as I will probably pawn my underwear to buy them.haha

Cheers

Dear Horseman

SHL is a solid company but it might not be a great investment to me at current price level because it will not satisfied my return requirement.

However,I need point that their business model are more on landed property (less likely affected by RPGT and DIBS) and also build then sell concept which is unlikely we can see from other developers and thus enable them to have higher pricing and consequently better margin.

Cheers and happy investing

Dear Fundtrader,it is not preferable to convert WC now even if you are the long term player (i.e more than 3 years).The logic is as follows.

If you convert now
RM 1.00 (conversion price)+RM 0.745 (WC)=your cost is RM 1.745,if let say the price go up to RM 3.00 in 3 years time.You will gain 71.9%.

However if you buy and keep WC up to the level of mother share RM 3.00,then Wc will at least reach RM 2.00,and I think you will happy to see the 168% gain if we are not greedy.And this is not even priced in the premium potential.

Thus,since it is a undervalued stocks and with the low conversion price,it is preferable to only convert when it reach its maturity date.

Cheers

Dear Tai Yee and ccs999

As an ordinary investor,we do not know when and where the price can up or down as this is beyond our control. However we can buy stocks with great value compare to its price and larger the gap the more happier we are as there is large gap of margin of safety. Coming back to BIMB WA,the down trend may be continued but further they drop the more happier I am.

The price of BIMB WA as retreat from 0.9+ level to current level however we should noticed that the price of BIMB has rebound from 3.++ after ex to 4.2+ level but BIMB WA has not move much and with this create a greater gearing for BIMB WA.Moreover,coupled with the selling pressure of BIMB WA by funds will be subside as per cytew statement,this two combined is more than enough to create a short term booster for BIMB WA.

In the long term play.Current year performance of BIMB should be good as we all should know the facts that the last Q performance is dragged by the dividend tax which is one-off. Moreover,markets seems overlook the effect of the 49% acquisition of Bank Islam and combining all this will boost BIMB Owner's earnings to more than RM 470m compare to last year RM 270m.

Last year Owners Earnings 279m
Tax effect 31m
49% bank islam 163m

Total 470m

The above even not taking into effect of growth factor which is positive in mid term as BIMB is now aggressively expanding due to its below average loans to deposits ratio.

Moreover,we should also noticed the warrant gearing of MBSB WA compare to BIMB WA and I believe you will happy to see that.

Thus with the above,BIMB is a good candidate for short (6 months) and long term play.However,the greater the the price of warrant fall,the more aggressive we should in accumulate it.

Cheers

Good buy BIMB WA now for both short term (6 months) and long term (1-5 years) play. As selling pressure may likely rest after funds finish unloading as per Cytew statement. Cheers.

Eager for your articles Vaentec.Cheers.

There is a possibility of REIT as well by combining the asset of both L&G and Mayland (Plaza Damas,Cheras sentral as well as the newly acquired building) if the later two do well.Cheers.

There is seems some misunderstanding in the computation of TERP for Tguan.If close of Tguan is 2.10

It should be (RM 2.10+(RM 1*0.5)+(RM 1.5*0.25)/1.75).

=(RM 2.1+RM 0.5+RM 0.375)/1.75
=1.7


Cheers.Thanks

Dear Friends

The prospect of MRCB and MRCB-WA looks great but investing solely in MRCB will not be enough as the returns of MRCB are bout 21% from current level if reach RM 2.00.However,the potential for MRCB-WA is greater with possible returns ranging from 27-68% from current price level.Thus,we should bullish on both to fully ride on this bullish MRCB.Cheers.

Dear Lynnc

With the gearing of MRCB and MRCB-WA getting wider,it is preferable to swap all your mother position to MRCB-WA as Cytew mentioned.As noted by your comments,your entry price is slightly higher with RM 2.++ level in which even the MRCB reach the level of RM 2,probably break even only.

The current price level will let you experienced a "paper loss" of probably 18% but if you take an effort to swap to MRCB-WA,as mentioned before MRCB-WA will only find it a proper valuation level at likely 0.315-0.405 level and this will turn returns to bout 27% to 68% in which you will happy to see your overall returns from MRCB will turn green and making a turnaround.This even has not taken into account of the fresh funds to be injected into MRCB-WA.

Thus,it will great choice to turn all mother share to MRCB-WA.I am personally bullish on both MRCB and MRCB-WA with the position allocation approx (30% of MRCB and 70% of MRCB-WA)

Cheers.

It is a great news as they want to fully ride on the trend of Kwasa.Cheers Crawler and Friends.

Dear Vin Cullen

When I reviewed your previous postings,I had noticed you do also invest in BIMB-WA.It is great to hear that as BIMB-WA can be a short as well as long-term play.Cheers.

To Vin Cullen

No doubt,QCAP is a good company with diversified asset portfolio but however,with the price at current level,it is still not fulfill my selection criteria yet.Moreover, the price of REIT are expect to further down when the interest rates are raise by BNM and hopefully then a panic selling can occur and provide us with a great margin of safety.

Again,I need to point out that I am not buying QCAP at current level is not because they are not good but rather it is not meet selection criteria.

Coming back to MRCB,buying in MRCB and MRCB-WA will be an alternative to participate in QCAP operation as "we" -MRCB are now the substantial shareholder in QCAP.

Dear Friends

MRCB is the most debated stocks that I have ever bought since I am start investing in Malaysia stocks market as most of the investors are still have a negative views over MRCB.Overvalued,inefficient lots and lots of reason. However,after I have deep look over MRCB,I am totally agree with Crawler as MRCB is still an undervalued Gem.

As I mentioned in the previous statement,I viewed MRCB as turnaround stocks with improve margin and overall business performance as they are now transforming from contractors towards Developer and properties manager (REIT).

As mentioned by Crawler,PJ sentral,Kwasa,KVDT 5 billion project,Penang Sentral will be the short to mid-term catalyst for MRCB.Cheers. We should appreciate the chance given by weak overall market in accumulating both MRCB and MRCB-WA week after week,However I believe we can say bye bye to this range not so long from now.

Cheers.

To Vin Cullen

You are right if we measure MRCB through traditional investment metric (i.e. PE) then it will be seems bit overvalued.However,MRCB from my perspective is a turnaround stocks in which we could not judge upon current earnings.Like Jtiasa,the price is drop below RM 1.90 when the analyst still have the negatives views over CPO prices,but when the "dust"-the CPO prices had finally turnaround then it had attract re-rating over the overall industry as well as individual stocks.

Back to MRCB,as we can see from the efforts initiated by management as well direction indicated,they are now focusing on Property Investment and Development. With this,the Net margin for the company will be enhanced as Property development will have higher margin than construction sector.

Great to hear that LuvLuv,KimHeng. But do not forget about MRCB-WA as well to fully utilize its uptrend.

To LuvLuv
First of all,it is my pleasure to have you readings my comments as well as brief analysis.

Yup,MRCB and MRCB Wa is still a hidden gem even he had rebounded from below 1.4 level last year. However,I think the show for MRCB is not started yet. As I said before, RM2.00 to RM 2.50 will be the comfortable level to sustain the bullishness of its strong performance in expected result and catalyst. Furthermore,I had just noticed that they now coming up with another project called Nu sentral(GDV 1 billion),although Nu sentral is a long-time project but I found that this will be strategic move as I think this will the another asset that they will bring to REIT in 3 years time (a long term catalyst) and this is in line with management vision in strengthening investment and development division.

With the weightings of operation is now slightly changing from construction to the investment and development division,the group stability in PAT will be enhanced (better margin for sure) especially all of their development project are in strategic area (ie. Seputeh & KL Sentral) and this might be great transformation by the company to "escape" from the traditional GLC image and become like another MBSB,RHB.

For Tguan,to tell the truth, I had closely observed tguan when its lingering at the level of below 1.3 level last year but I had missed the chance to ride on their strong uptrend as they had not hit my targeted entry price.Just a few cents,and I had no choice just watching them to climb higher and higher to the current level of RM 2 level. I do not expect Tguan profit performance to escalate sharply like what hartalega and L&G,but rather I am satisfied if the company can maintained the current performance in the future (translating to Approx 8 PE). Any growth in profit will be an additional bonuses for us.I termed investment in Tguan as a value play which posses a stable (or small growth business) but with great discount on its P/BV.Just want to share with you some of my investment methods and hope you can picked up some of them

Strong growth-Current L&G
Asset play-previous Tafi
Cyclical (industry)-previous Choobee
Cyclical (overall market)-Maybank

There are few more categories in my selection categories,will share you more in future.

Come back to Tguan again,They have a very balance sheet and a very attractive P/Bv with stable business.but what really attracts me is the proposal which I think they might play the same show again like L&G for the motive of controlling stake. please analyze the terms of the proposal closely and I believe you know what I mean.

Dear Friends,from the announcement,the M&A with QCAP will be postpone to Apr 10 thus if things rally goes smooth,then Apr 10 or 11 will be turning point or short-term catalyst to MRCB and MRCB-WA and we can say byebye to resistant of 1.65 and 0.255 for at least for 1 year or 1.5 years.

The postponement is unavoidable but it is forgivable if MRCB really has the heart to make a successful turnaround in Property investment business (REIT).We think from the business perspective,as mentioned by MRCB through media,they are preparing a big size asset injection to REIT worth bout RM 3 billion,thus it is not easy for them to strategize the whole things. As we know,the QCAP asset injection only worth RM 750m thats mean there are more to go after QCAP.

From the investor perspective,as long as the MRCB are all-out in getting the deal done coupled with the potential the positive news from PJSENTRAL as well as Kwasa,the future for MRCB and MRCB-WA looks bright. Again,investment can only bear fruits with patient investor.

At the moment.Please grab as much as MRCB and MRCB-WA as we can.

We will see different MRCB and MRCB-WA if things materialize after Apr 11,2014.Cheers.

People must be disappoint by the false breakout in MRCB. As we know the movement of derivative is in line with its mother. The 0.255 resistant seems strong for MRCB-WA as there is a strong resistant for its mother at 1.65 level.Just be patient.

The greater the son down,the higher the gearing and this will again increase the attractiveness of its pjdev-wc.Cheers

The longer its cant break the resistant the more meaningful and momentum when its break the the resistant.

To breadonyeap,although the direction of mother and its La will move in tandem and closely but I just give you an example.

Let say we have RM 100,000 and we need to determine which to enter. based on the current price 0f 0.51 vs 0.395 we can buy 253k units of LA while we can only buy 196k units of mother share. As highlighted before,we they are move in tandem, thus if mother rise 11 cents while LA also should rise 11 cents,then you can compare the effects of 253K units*11cents vs 196K units*11 cents.I think you can make judgement already. Although the exchange ratio is not so great now,but I think you are able to differentiate them.

But no worry,those positive news mentioned above will be the "easterly wind"

This is because they have very strong resistant there with monthly MA

Not so fast Valueinvestor,I think probably need 2-3 more quarter to reach that level as I allocate this stocks to rise in 8 stages.

QCAP M&A will be the trigger first if all go smooth as signing of agreement should be this month.

I am aiming 0.90-1.20 level for its mother over one to 2 years.But we have to wait as price need to come down 0.485-0.49 again before next move.

It is just the matter of time Alexisvics.Be patient.

Investment can only bear fruits with patient investor.

To Vin Cullen, GLC stocks normal valuation is hardly in use. The catalyst for MRCB is not solely the quarterly result as I think the the future one-two quarter may have some profit but still not significant. The Key is EDL,Kwasa,M&A of QCAP coupled with more injection to QCAP with all this in place,RM 2.00-RM 2.50 level is possible.

Hong Hero you are right,as I am too aiming 0.315-0.405 level which I think should not be problem.Cheers

Vin Cullen RM 2.50 just a possible target price as I said before RM 2.00-RM 2.50 will be the range that I aiming which I think should not be any problem if news rolled out. At that time the value of warrant will be trade between RM 0.315-RM 0.405.

The premium is not only the factor that determine the value of warrant,although it is important but in the case of MRCB-wa,if we think from the normal perspective, at the current price level,the warrant will seems overvalued at premium of 55-6+% which is very high for 5 years warrant.

To breadonyeap you mean for L&G or MRCB

For L&G better investment will be now for LA,but I think It is preferably to wait price to come towards 0.35 level as I think buying power at current level is not strong so be patient.

While for MRCB, its will be MRCB-WA

I am also looking forward both Asianpac and Pjdev articles as well Icon 8888

RM 1.80-RM 1.95 will only be the first resistant Vin Cullen.after that we will see RM 2.00 above as news are rolling with 3 high of RM 2.5 will be the critical resistant but whether we can break Rm 2.50 is not a issue for me as I believe from current level to RM 2.50 I will be satisfy. Cheers.

The more bad news coming out early is better as I expect a healthy correction towards 1650 this year (as Malaysia seems resilient compare to regional bourse as others has faced correction in different degree after 2008) and then follow by strong rebound for bout 1.5 to 2 years.

The selling pressure of L&G and L&G LA will only rest when mother reach 0.48-0.485 level while L&G-La reach 0.345-0.35 level.So be patient friends

To Brendonyeap.

Gearing in the case of financial gearing (Liabilities/Equities) is sure the lower the better as this represent company resilient in the industry. However in the context of warrant,the higher the gearing will represent the greater chance for the warrant to move in tandem with its underlying
assets (i.e its mother shares) as well as give capital allocation benefits to investor other than directly invest in the shares.

Ie. When the stocks of A is valued at current price of RM 2.5 and its warrant valued at 0.5 let say,this is the gearing of 5 and thats mean if we want to invest RM 10000 in stock A with 4000 units we can also make an alternative to invest in its warrant by having 20000 units while we also riding the same trend with the mother. This is one of the elements of gearing.

Dont be gatal in catching falling knife as it will reach it equilibrium level of 0.34-0.35. Cheers.

Yup you are right crawler.Purely Pj Sentral case really settled will pump MRCB 10-13 cents up.cheers

Luvluv,L&G retreat as expected.Further down is expected. See you there at 0.34-0.345 and 0.48-0.485 for both of it mother and LA luvluv as promised as it is a very strong support there.

It is great to hear that lulvluv.Me too Q at 0.22-0.225 consistently for few weeks. Wait you at RM2-2.5 luvluv and connie.

Nice to hear that luvluv.Be cool and be patient for Mrcb.