Fabien _the efficient capital allocator

fabienwks | Joined since 2010-12-10

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2019-07-09 14:47 | Report Abuse

if u looking for turnaround play, i prefer Superlon. it's safer bet. and the co is in net cash.

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2019-07-08 20:56 | Report Abuse

you bought when Tong from The Edge sold. He realised 50% loss on SCGM.

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2019-07-08 20:55 | Report Abuse

good cash flows. strong balance sheet. net cash is 50% of market capitalization.

earnings are recovering, albeit gradually.

News & Blogs

2019-07-03 17:41 | Report Abuse

work hard in you career, climb up the ladder and get your employer to reward you with car allowance, not forking out your hard earned money on continental cars! earned it through your career advancement

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2019-07-03 15:19 | Report Abuse

if MGO does happen, it can't be at this price. it's absurd.

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2019-07-02 17:29 | Report Abuse

you don't even need to do a proper Sum Of Parts on Insas. It's stake in Inari alone already worth double of Insas market cap.

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2019-07-02 17:28 | Report Abuse

Unbelievably undervalued.

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2019-07-02 16:43 | Report Abuse

It's ok. I have plenty of patience.

The rest, apart from insas, pays good dividend yield, while i'm waiting for market re-rating. i get paid while waiting.



Posted by stockraider > Jul 2, 2019 4:21 PM | Report Abuse

The key is catalyst....the missing in gradient of your pick loh...!!

Posted by Fabien "The Efficient Capital Allocater" > Jul 2, 2019 4:05 PM | Report Abuse

For assets play, Insas, Oriental, OSK, TA, Affin all selling dirt cheap. Take your pick.

News & Blogs

2019-07-02 16:31 | Report Abuse

Icon, did u take a look at WCE? Worth a look, high upside potential relative to downside, imo.

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2019-07-02 16:05 | Report Abuse

For assets play, Insas, Oriental, OSK, TA, Affin all selling dirt cheap. Take your pick.

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2019-06-22 08:18 | Report Abuse

HLI can earn ROE of above 25%. how many investors can do that? with the excess cash to you, can you make use of it and beat the 25% return?

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2019-06-22 08:16 | Report Abuse

i believe HLI is doing good actually. despite the massive cash piles, the management is still able to earn ROE above 20% consistently. they know what they are doing. moreoever, dividends have been increasing yearly. they have a strategy in place.

in contrast, Oriental ROE is below 10%, the cash is sitting there idling, the management is over conservative. Oriental should distribute those excess cash to the shareholders.

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2019-06-21 11:41 | Report Abuse

"Somehow I saw the potential in Yamaha bikes when many do not."

@kywoo, mind sharing your research and insights on the prospect of Yamaha bikes?

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2019-06-20 16:21 | Report Abuse

i also hold both HLIND and Oriental

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2019-06-18 17:25 | Report Abuse

hence, investing requires a lot of patience. as long as the fundamentals are good, even maintaining at 50sen dividend you will still get 4.5% yield better than FD.

i remember investing in Padini. similarly strong fundamental company, trading at low digit PE to 10x. been holding for few years while enjoying 5-6% dividend yield. after 2 years plus of holding, market sentiment towards Padini changed resulting in higher valuation multiple. Padini was re-rated higher and higher, even to 20x, if i'm not mistaken, and became one of top investment success.

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2019-06-18 15:33 | Report Abuse

well, Calvin has the last laugh..haha


calvintaneng HIGH CRUDE OIL PRICE MEANS EXPENSIVE RESIN FOR SYNTHETIC RUBBER

THIS WILL HIT TOP GLOVE EARNINGS BADLY

SELL ON REBOUND NOW!!
23/04/2019 10:27 PM

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2019-06-17 14:51 | Report Abuse

its growing owner earnings, i.e. free cashflows, itself is a catalyst to better valuation multiple hence its market valuation

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2019-06-14 17:49 | Report Abuse

we all know PE 10x is unreasonable for such company (net cash, growing earnings, growing FCF, good dividend yield, growing dividends, high ROE, high ROIC). ex cash PE ratio < 10x.

what is lacking is the "demand", perhaps due to its small public float and no analyst coverage.

News & Blogs

2019-06-14 14:27 | Report Abuse

Quoted from Seth Klarman...never blindly to be contrarian, betting whatever is out of favor to be restored. often, investments are disfavored for good reason..

investors must consider the possibility that recovery may not occur. it is also important to gauge the psychology of other investors. how far along is the curren trend? how much further it may go? what are the driving forces?

being extremely early is tantamount to being wrong. conclusion, contrarian need to understand the psychology of other investors.

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2019-06-12 19:44 | Report Abuse

similar to other property counters. earnings are contracting but sales remain above target. current price is at massive discount, decent yield

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2019-06-12 17:37 | Report Abuse

@TheContrarian why not consider MahSing?

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2019-06-12 13:50 | Report Abuse

CIMB target price is 3.40

More runway to go.

General

2019-06-11 15:17 | Report Abuse

Main/key takeaway from Seth Klarman's annual letter to the investors of his hedge fund, Baupost: to minimize the duration of portfolio holdings.

Klarman believes it is vital to invest in short-duration equity opportunities, where there is a catalyst on the horizon to unlock value.

“We believe another key element in portfolio management is curtailing the duration (the weighted average life) of one’s portfolio through exposure to investments with catalysts for the realization of underlying value. Catalytic events shift the outcome of investments from a reliance on future market multiples and macroeconomic developments (which are not at all under your control) to a dependence on your assessment of the outcomes, probabilities, and implications of announced or anticipated corporate events, including mergers and acquisitions, bond maturities, debt restructurings, bankruptcies, major corporate asset sales, spinoffs, and tender offers. No strategy can avoid all risk of loss. But we believe our approach should increase the likelihood of achieving sustainable gains with limited downside risk over the long- run. To put it differently, a portfolio of near infinite duration (such as an all equity portfolio without catalysts) can trade just about anywhere. With such exposures, if stock prices plummet, the odds go up that an investor will feel pressure to do the wrong thing and sell into market weakness. A limited duration portfolio, both because of the hopefully truncated downside in a bad market as well as the beneficial cash inflows (buying power) that catalysts usually generate, is hugely advantageous in navigating through turmoil.”

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2019-06-11 15:09 | Report Abuse

i prefer this way, slowly but surely. will entitled for 8.5sen end of this month.

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2019-06-11 15:07 | Report Abuse

Using Ben Graham PE method. conservatively, assuming HLIND earnings to grow in line with the economy, sustainable rate of 3-4% annually, implied PER should be at least 15x. with EPS at least RM1, do the math...

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2019-06-11 15:03 | Report Abuse

Vietnam's economy is growing at a fast pace, 6-7% annual growth..very soon its economy will overtake Singapore.

Even maintaining current market share, HLIND will still able to grow its sales (in absolute terms) in line with the growing economy.

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2019-06-10 17:46 | Report Abuse

their dividend payout has been increasing anyway. ROE is very high so management is doing the right thing well.

RainT if HLIND can pay dividend as generous as AIRASIA , how good

HLIND have huge cash pile
06/06/2019 12:54 PM

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2019-06-10 17:21 | Report Abuse

inching towards new high

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2019-06-08 18:08 | Report Abuse

tong herr has been through even worse phase before, back in 2015. they have turnaround subsequently. but recent quarters have been impacted badly by the slowing economy. doubt they will reach 5 figure quarterly profit anytime soon.

maybe 3iii has some perspective to share?

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2019-06-08 18:05 | Report Abuse

well, market pyschology swings all the time. will see...

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2019-06-08 12:56 | Report Abuse

for PE 20x, i won't touch for now. at that valuation, positive growth already priced in. if earnings disappoint again, market will bring down its valuation.

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2019-06-07 18:01 | Report Abuse

valuation still at 20x PE. it is justified given its not so promising outlook?

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2019-06-04 17:06 | Report Abuse

it's a good company. though i prefer to have a wider margin of safety before having some positions.

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2019-06-04 11:54 | Report Abuse

its pointless to position in this stock based on expectations of future petrochemical prices

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2019-06-03 17:24 | Report Abuse

looking at the volume, there aren't much. datuk is nimbling as much shares as he could.

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2019-06-03 15:52 | Report Abuse

well, at current price, it is dirt cheap relative to its fundamentals. i see no reason why it drops. remaining shareholders are of "strong hands", they are in for the VALUE.

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2019-06-03 15:27 | Report Abuse

this company generates healthy ROE (>20%) and ROIC (>60%), creating value for the shareholders. i will hold tightly to my shares.

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2019-05-30 19:50 | Report Abuse

5 consecutive quarters drop. no light at the end of tunnel yet.

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2019-05-30 19:45 | Report Abuse

TheContrarian Because MGO failed, the share price can't go above 66 sen until the one year expire.
26/04/2019 11:06 PM


Contrarian, when will the one year period expires? It's quietly inch up to 68sen now.

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2019-05-30 13:49 | Report Abuse

Don't mislead people. Maybank has always been declaring dividends in Q2 and Q4.

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2019-05-29 15:07 | Report Abuse

a little more than 2 weeks time we will entitled for 35sen dividend

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2019-05-29 10:28 | Report Abuse

probably it will be good with some publicity. if any gentleman analyst care to initiate coverage, this company will explode... HLIND deserves a better valuation multiple

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2019-05-29 10:08 | Report Abuse

getting ready to employ capital if it drops to 8

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2019-05-29 09:51 | Report Abuse

net cash is 30% of market cap

RainT the cash balance since from 1 year ago have been growing 50% to RM1 billion now

this is impressive
29/05/2019 8:26 AM

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2019-05-28 20:45 | Report Abuse

decent yield of 3.7%

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2019-05-28 20:10 | Report Abuse

ok la, not bad. dividend grew by 6% more than previous year growth (4%).

slowly but surely. just look at its cash flows...

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2019-05-28 20:09 | Report Abuse

one weak quarter results and you guys panic? first time investing ar..

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2019-05-27 20:29 | Report Abuse

don't worry about the share price. have some patience.

you get decent yield anyway.