Industry NPM is anywhere between 2-10%? So GDB is within expectations; in 2018-2020 NPM was a high 7-9%.

HOpefully the drama with KSK is now in the past; GDB can focus on delivering quality project ahead of time

https://www.nst.com.my/business/corporate/2024/01/1008078/gdb-holdings-build-kl-wellness-city-flagship-hospital-bukit-jalil

Slowly building their book order back up

Borrowings in foreign currency. Bad.

But sales also in foreign currency. Good.

Pros. If you value this counter, now is time to collect. Cocoa price pressing counter down, but what goes up will come down (eventually). And I like the idea how this company has expanded and scaled up

Cons
Damn highly leveraged. Financial health is such that IF anything major goes wrong, struggles ahead. Damn dicey.

Any other upside?

Seeing more and more Heveagro mushroom in supermarkets like Jaya Grocer etc. Hopefully will become revenue contender within 3 years. Buy and hold this baby!

Anyone attended the AGM? Any updates?

Forgot to register earlier for the online AGM .. sigh..

Can any kind soul pls post what updates they give here pls? Thank you muchly..

Oh well..now can still say "most" of our developments get delivered before deadline.

Happy 2020 everyone

Yeah I've been keeping a close eye..3 more days for them to announce and keep their USP of "delivering before time" promise lol

Wonder if can still complete Menara Hap Seng on time? Only few more days..

Probably money for Christmas shopping =)

Drop down. Shoot up. Drop own. Shoot up.

Really no point guessing. Just believe in fundamentals of the biz and buy at whichever confidence level you are at. Ultimately the end price should still be higher than what it is.

I hope so too. Because DY is an indicator of past actions, not future. Even the CEO during the last AGM said they will do their best to reward shareholder, however cannot promise that the amt of dividend paid can be maintained, especially if biz is bad. And biz has not been great the past year (sigh)

Come on Jaycorp. Time to fly soon when qtr report come out. Vroom vroom

True. If 2020 can sustain another 40%+ growth, then really fatt tatt lo

Must dig more to understand if that is even possible. Do they have the capacity to meet the demands of that kind of demand growth.

Something to ask in their AGM next year.

Directors have been disposing almost close to 2 million shares. However for some, it represents only about 3-5% of their total shares..

Ok lah, maybe they dispose to buy hse kah. Buy yacht. Put aside for their children expensive education. Heh.

Bought some today. Ikan bilis amount. Christmas present for myself. Haha.

Probability yes that is very clear. So now just wondering if this type of growth can continue and sustain or not.

The variables are:
1. Market demand will slow down (a bit unlikely, as e-commerce booming)
2. Master Mgmt commit suicide and decide to venture into non-relevant business (Dear god pls no)
3. Production line fully utilised. Want to make more also cannot. Cannot meet demand (good problem but a problem nevertheless)

Interesting times...

SC, my first price was 1.53, then 0.75, then 0.69. I am also thinking whether to pull trigger to average down a bit more now. Will study the situation a bit more and see

I hope for Japan Olympics to be more of a catalyst to help Hevea turnaround. This counter needs some good news to spur some positive movement. If with Japan Olimpeh and STILL bad results..then officially GG can just dump this stock Liao.

Haha seems like alot of ppl lose until kao peh kao bu on this counter. Think we should all hold a pity party for Hevea buyers..buy Heveagro mushroom and BBQ together

Welcome. Very interesting to invest in a sound company and continue to dig for more useful info.

Wonder if anyone has insider info on how well their factories/production lines are being utilised (local and in Vietnam)? Whether can take on more growth that seems to be incoming for next 2 years.

Sharing about Master. Their Quadwall patent details below. These fellas are really serious about building cardboard boxes lo

https://patents.google.com/patent/US8652613B2/en
https://patentimages.storage.googleapis.com/83/32/9e/e2ba603db91329/US8652613.pdf

Seems like their patent extends until 2031. Hope this plays out financially for Master

SC, I averaged down to 86 cents

I bought into the mushroom story during the glory days before they started having the worker shortage issues. Bohpian...was a super noob investor then (now just a little bit noob, not as bad as then)

Pain ah

Hi Jane86,

My sifu always goreng me to look at numbers and imagine what stories they tell. Yes, its all my own interpretations; however if many of the pieces seem to fit together, then higher chances that the pieces fit together.

If I am wrong, I am open to others pointing it out and making me a better investor. So here goes...

1. Master has consistently been issuing dividends the past 9 years. The last time PPHB issued dividend was in 2010. Yes although Master dividend is nothing to shout about, perception matters

2. TTM Total Cash & Cash Equivalents. Master is almost half that of PPHB, yet Master still find ways to reward shareholders with a dividend

3. TTM Account Receivables for PPHB is 10m more than Master, even though both recorded almost identical amounts of revenue. Master better at ensuring revenue gets banked in accordingly? Or is this just the industry standard? Anyways the better a business is run, is in best interest of shareholders

4. TTM Retained Earnings. PPHB almost 4x more than Master. Cross-reference this to point 2 above. So this means not only does PPHB has much higher retained earnings AND they are sitting on pile of cash more than Master. Yet...Master pays dividends

5. From 2018 Annual Reports, PPHB paid its directors/key management 7m vs Master of around 3m (I hope I read this right). Just looking at it on face value, PPHB more keen to reward its management vs its shareholders

6. Which management is better serving its shareholders? If refer to ROE, the answer is also...Master.

Not saying PPHB is a bad choice though. You go to PPHB forum, better sifus there can give shorter, numbers-driven reasons why is a good investment. Also I agree that PPHB was investing heavily in expansion. I just like to look at the data and tell myself a good story why Master is a better choice.

Have fun!

Am tracking this counter.

Anyone personally experience£ their Branch of the Future concept before? Anything that stands out that is different from any other bank branch?

This baby is a long play. Not too sure why Mgmt is making a play into FMCG distribution though. Still trying to wrap my head around the overall biz strategy and how it synergizes with their laundry and healthcare biz..

This counter I shall keep long long..if anything to remind me to never always just rely on market noise when buying shares..haizz..

Hoping that Olympics 2020 will turn this company around..but at this rate even a few good quarters leading up to Japan 2020 will not be able to recoup losses..

Go holland lah

If bonus again then really fatt tatt loh!

I see, M3. Thank you for the insights. Hopefully they can be consistent and keep the reputation of early completion. Perception is everything, especially in this day and age.

Callmejholow, your tips memang boleh pakai, from past observation. I now looking forward to seeing the announcement. Don't let me down now haha

But then again..throw in a few lots for PPHB to see if it will rise as fast as Master also quite fun

Q4 encompasses major e-commerce events like Singles Day, Black Friday, Cyber Monday, 12.12, Christmas etc. If past quarters had better results QoQ , no reason why Q4 won't shine

It's exciting to think of PPHB growth will be the same like Master. But I prefer Master management. Can see on balance sheet that they take care of shareholders more. So even though more ex than PPHB, will stick with Master.

If that is true, then very good news for GDB. Now is to see if they can maintain their standards with the influx of so many new projects at the same time.

Anyone have any news of Menara Hap Seng progress? They only got 20+ more days for them to maintain their reputation of "finishing before deadline" industry standard

The difference is how the directors renumerate themselves. Compare both PPHB and Master 2018 annual report, can already see a difference

Yeah. Happy that revenue going up, but op cost is one kind wahlao.

Only hope its because they foresee big growth incoming, and are hiring now to prepare for it. Samo still haven't factored in the Foodict acquisition yet.

What is clear that this is a good medical device + healthcare counter play.

Let's not call ppl names lah. We should thank Gooshen for being a contrarian voice. It is when there is negative noise in the market that forces us to examine our own positions.

If we believe in the fundamentals of the business, then ignore and continue to invest. If we believe in the doomsday messages (which CAN also happen), then liquidate your position.

Either way, even the voice of ppl like Gooshen serves a purpose

PS I don't agree with how he calls ppl stupid and whatnot for chasing highs etc. But that's besides the point. Just sharing. Happy investing everyone

If I was a director and I had RM 60million worth of shares..what is selling some to make RM500k? Small change lo for them...

When price go up, shall celebrate quietly. When price drops, shall collect silently. Rome was not built in a day.

Sikit sikit lama lama jadi bukit wooo..

shrobin, I am with you on this. I can see the benefits of holding GDB for the long term. Their value proposition (which remains true to this day, until proven otherwise) of delivering projects early/on-time is commendable.

Can see also the trajectory and how this management thinks/works, with the recent acquisition of Eco Geotechnics that opens up more opportunities for them to pitch for projects. Healthy net cash position. The recent back-to-back good news of winning tenders (and possibly more to come?)

What's not to like?

Fundamental play here. Looking forward to seeing what kind of infrastructure projects GDB will pitch for

At a Discounted Future Earnings model, the TP is RM3+

Keep selling pls ppl. Time to collect more.

Being goreng-ed until no tomorrow. Huat ah!

Super dangerous when one has to make investment decisions based on the whims and fancies of Donald Trump.

If he decides to continue on with trade war, then it might actually benefit ASEAN countries. But what if tomorrow they come to an agreement and he pulls back the tariffs? Headache woooo investing like this..

Anyone there at the AGM today? Can share later what was said? TQ

https://www.forbes.com/sites/tomcoughlin/2019/02/04/2018-hard-disk-drive-results/#49ad61bb45a7

"Although Q4 2018 was down from Q3 2018 we see HDD shipment declines decreasing in 2019 and 2020, increasingly driven by growth in enterprise storage requirements. At the same time, shipment storage capacity should increase. HDD component demand will exceed its last peak in 2020 with 2024 HDD prices at $0.006/GB"

From what I can understand.. the prediction is for consumer HDD to reduce, while increasing of demand for enterprise/cloud storage HDD. From AGM, mgmt stated that for consumer HDD, Dufu creates 1 spacer. For enterprise HDD, Dufu creates many (6 or more? I missed out on this). Unsure how much is the cost and margin difference though. Must research more.

Actually Mgmt did say that Quarter 1 and 2 slowdown..but forecasted pickup in Q3 and Q4..

Liddat lo..

Apala .. all that drama for a slight drop in revenue

@EatCoconutCanWin It was quite a good fried rice, spring rolls and chicken pies. Quite tasty what haha

One could argue it is because there is a much bigger demand for enterprise HDD and cloud storage, that is playing directly to Dufu's niche.

Not saying all is rosy. Definite pullback this coming 1H2019 as can be seen. But in long-term? With an increasing demand for enterprise HDD (still cheaper), cloud storage..and if you think about it, the impact of 5G tech that will bring cloud computing to everyone..

You make your own predictions lah. Whether this quarter good or not, I think some of us here are in for mid-long term

Correction. AGM. No news (particularly good or bad) from CEO. All still sell like mad.

Human-beings are complicated

Usually I'm not emotional at all when price drop like stone, if I know fundamentals is good. Invest for long term.

But today, I am emotional. Emotional because see the price drop down so fast; finger damn itchy to sailang. This is a very different experience for me.

The resolution for the 1:20 dividend scheme was also passed. So buy now lah; get extra shares end of May =)

People so emotional. So fun to watch