There are so many such billionaires in Malaysia who did this kind of exercises many times already, such as Ananda Krishnan and Vincent Tan. But investors forget things very often, and they like to bet their luck too. Therefore, i think an investors friendly management is much more essential than stock valuation when choosing a long term investment target. For this reason, I'd most definitely say this, TTB, is one of the WORST when talking about investors friendly corporate philosophy. When a company's growth become slow and expected to be slow for a reasonably long period of time, an investor friendly CEO and board will often offer some yield to be given to investors. This is the most common thing they do to show appreciation.

bstead stock price dropped from 2.90 two years ago to today's 60 sen. And now Boustead wants to take it private. Do you think this is "good news" for "VERY LONG TERM INVESTORS"? Hahaha! It's a joke. You hold the stock, you think maybe 5 years later the stock will rebound 200%. But, major shareholders won't let you take that opportunity, they will take it private at extreme low cost. After that, they restructured and reform the company. Few years later, value arise, the original stock probably valued at 3.00 per share, then the major shareholders re-listed the company, and earn themselves millions of profit. You? "long term investors"? You can only buy it back at 3.00 (while sold to them as penny stock.

TTB supporters, be ready to spend another 10 years to wait for the next bear market to arrive, and continue to see ICAP price at 2.05 for 10 years. Very long term investors of ICAP.

Just wondering....if we put the investment into FD, what will be the different in 10 years holding (as a very long term investor in Malaysia).

JohnDough is the typical type of 讀死書（Study mechanically）person. God bless him.

these cock talkers has no feeling of icap stock performance, which leads me to think that they are the social media army hired by icap/TTB.

TTB will only buy Public Bank stock when it goes down to 5 ringgit a share, then he can tell the world SEE? I TOLD YOU! And build another glory story. If price higher than 5 ringgit, TTB just keep telling the world AIYA, MARKET IS OVER VALUE LAH! , and at the same time keep receiving ICAP paying him millions of fund manager fees every year without taking risk of his HUGE REPUTATION OF VALUE INVESTOR.

TTB don't care ICAP shareholders loh, cheap people die cheap only. Rich people gets richer and richer, like TTB.

THE END

i think TTB buy with his own name account, but not buying through ICAP. That's why TTB very rich man. Hahaha!!

London boys finally start selling shares.

NYSE ORDER IMBALANCE RF.N 510831.0 SHARES ON SELL SIDE

who knows who is this seller?
and where is the London boys?

What is this? "NYSE ORDER IMBALANCE RF.N 510831.0 SHARES ON SELL SIDE"
Lately, only seeing this line in its news. Does it mean one of the major shareholder keep selling it?
Where is is London boys? How come no more appearing in ICAP news announcement?

wow, dropped pretty seriously recently.

i like RM14 :P

past few days (including today) has quite large sell queue, looks like some institution fund is doing transferring to other institution fund at current price. Since the sell side won't expect retailers to take out that kind of amount, i bet.

Unfortunately, the discount to book value is too steep. If the discount is around 10%, I'd be happy to sell it since the performance has been too disappointing.

i support liquidation. ICAP has been too disappointed in the past 5 years.

very syok! hahaha!
obviously, insider buyer and seller, doing nothing to retailers like us, we can only watch.

The so called "value trap", in a way, is ICAP.

ICAP used to trade at premium to asset value. In recent years until today, it has been traded in a discount range of 21%-28%. Market speaks for itself. Speaking of long term, as many supporters like to mention, ICAP has been trading at the above mentioned discount for more than 5 years. It's not a sudden drop of confidence, it is in fact a gradually losing confidence on TTB. The discount not only portraits market sentiment against TTB's investing skill, it also portraits (i bet, the major reason for the discount gap) market's view on how investor-friendly TTB has been. In short, TTB doesn't care much on ICAP holders' benefits. Many stocks traded at premium valuation to their peers, simply because market thinks the board, CEO or major shareholders are investor-friendly, they care about investors' benefits.

so we are confirm that unit holders of iCAP can vote to liquidate ICAP in 2020? Really?? I'm so very exciting！

maybank's yield easily above 5%....

what is the yield of pbbank for current price? above 4% yet?

this news quite obviously wrote by people sided ICAP management team.
yes, ICAP's long term performance was good. However, for those who followed closely to ICAP's holding shares, we understand that it did some great choice in early years, especially taking advantage of the previous financial crisis. BUT, a BIG BUT, TTB has been once again "willing" to take on another round of financial crisis. He has been officially WAITING for it to happen. This is a HUGE PROBLEM in investing. Buffett always warn us about the risk of timing the market, and TTB is doing exactly it. He has been very stubborn on Parkson, which doesn't make sense. Buffett sells bad businesses many times, long term doesn't mean stubborn. TTB choose to hold tremendous ratio of cash for the past 5 years, while watching world economy moving in great pace and stability even with current US-China trade war. But TTB still, stubbornly, WAITING for his optimistic GREAT OPPORTUNITY, that is, SIMPLY, another financial crisis to come. Final word, don't expect similar good results in ICAP for the next 5 or 10 years. Its current long term performance was, almost achieved by luck (of picking up stocks after a fatal financial crisis).

AGM coming, any shareholders going to attend and shout at TTB?

calvintaneng, are you kidding me? mbsb bank has zero similarity with icap, there are totally not comparable. There are 1000 other stocks that is NOT related to icap, no similarity of any kind. Are you going to introduce us one by one?

did you see TTB bargain hunt any stocks in past 5 years? You wish to wait for him to bargain hunt (and do nothing but waiting and take fees from icap investors) in 5 years later?

Ego man, hopeless.

nobody went to the investors days to disturb his party? surprisingly.

thing is, nowadays, left very very very few people who still care about what TTTB said. His biggest personal reputation fault was his investment judgement in past 5 years or so. He forgot to learn, unlike Buffett who continues to learn every single day. Huge gap between them.

icap's investors week is coming. Anyone here going to kick ttb's ass? haha!

stockraider, please tell us, do you think ICAP today is a value trap or a value "stock"? How many 10 years do we have? Reality bites.

waiting for London boys to fight TTB again....hope they do something, and able to gain support from minority shareholders....take down TTB from the board, reduce his fees, forced him to pay huge dividend if the fund continue to sit on cash doing nothing....and make strategic steps on how to reduce the gap of fund price discount to NAV.

once again, (S = Qr) Philip, very well said. I can see you must be quite a good investor.

does icap still holding the stupid bstead and parkson? I can't imagine any value investor who would be so bullish on these two. They are just....simply....rubbish stock.

So NAV is now pointless number.

ICAP has long become a value trap. Holding lots of cash that is unable to be realized in a very very very long time....how many 10 years you can wait? That's the key question if you are a ICAP fund holder.

I was wondering, the used to be famous "investors day" happened last year 2018, how's the crowd? Were there still people admiring him and attending that event? It's a joke now, for TTB to talk about investment, isn't it?

TTB is a stubborn old man, who cannot admit himself of making mistakes (definitely unlike Warran Buffett). He doesn't sell Parkson, because he doesn't admit it's a mistake for holding Parkson for so many years blindly waiting for the business to turnaround. And TTB also doesn't admit he made a serious mistake of waiting for bear market to attack the world with huge damage. TTB waits for years and years, hoping his "bad dreams" to become reality, so that he could declare he won.

Oh, btw, he made others (the fund holders) to wait, not himself actually. As for him, he didn't wait a second for receiving millions of manager fees every year.

well said,
(S = Qr) Philip .

i agree. shareholders should vote out ttb, he is not a good investor. He is a market timer and an extremely stubborn person, which defines a bad investor.

And the above news is long time ago, few months back i think. Our new government hari hari new ideas. Anything can change before they were finalized and signed.

cimb research paper cannot trust one. Remember their TP? high as sky before, then stock price dropped before they adjusted their TP....after few times, now cents TP.
Useless research paper.

anyone has the link to saying of 1b compensation? show the link please. Thank you!

profit comes from gain by selling stocks.
NTA comes from currently holding stocks' market value + cash.

TTB has been timing the market, where Buffett has been finding gems in the market.

I can only say this, TTB is very untalented on investment. And Warran Buffett is genius.

Each year, TTB received huge profit coming from calculation by the fund's NAV, no matter how the iCap share price performed (unlike many world class company's style, which paying fees to their CEOs judged by the stock price performance).

Each year, iCap's investors watching their investment gaining (on paper) much lower than FD, not to mention Bursa index.

Isn't that sad?

Wow! EduCloud also kena!
Now I must say I'm very much doubt on the execution ability of the company. If we look at UniMY, that one also delaying to turn profit quarter after quarter. Simply put, the management is weak with unreliable execution strength.

at current price, it's still a 270m market cap company, not so "cheap" actually.

It's all about SKIN. nothing more. If without SKIN, 30 sen also can happen.

Tony is definitely one of the biggest con man in Malaysia history. Remember how he talked about Airasia X when looking out for IPO. IPO price at 1.25, watch how it performed all these years. Wondering how those big shareholders think now. And he still plans for other listings in other countries, what a con man master.