so, where can i get the book?

fayeTan, you justify the CAPABILITY of JCY to pay 10cents dividend for next year... Mind to justify the reason why should they do so? Is it going to be sustainable? Is it healthy to the company? A company can distribute more than 100% payout, but would that be sustainable? Perhaps, you may like companies that issue debt to pay dividend but I would hate to be shareholder of such companies.

For the last question, the answer is NEGATIVE. And if I were a shareholder, I won't want this to happen! Why? I hope you have the answers as well :)

another company that hit badly by high debt :) high NTA with low earning meaning it has very low ROA and then likely translate to low ROE... not sure if it has the same business like luxchem... If they are in the same model, i believe the latter is ahead of nylex 99 streets :)

The author is talking about efficiency of a company and further growth of a company...he had pointed out so clearly that the "increase of profit is mainly due to OTHER OPERATING INCOME"... how do you expect the other operating income to increase further if USD didn't go strong forever??? A growing company needs to have its gross margin to continue improve as well as its revenue... Do you see this in the latest qtr result? At least I don't... Is it going to be forever like this? We don't know... The author is just telling you the truth... do not expect too much...

Perhaps, he is just talking too far away while you guys are talking about ~1 year... if chinwell is able to make up their price, then they wont be maintaining the same/similar gross margin over a year...

=========================================================
buddyinvest Mr. letitgo, is chinwel only company experiencing wages hikes in the world? Can't they increase their pricing for making up the hikes? As long as the RM vs US is staying above RM4.00, there is no reason why chinwel & other export counters to will not do well. This stock has no debt denominated in U.S. Dollar which will otherwise worry me.

You can argue whatever point you want. Ultimately, the prevailing share price post next QE will decide who is right and who is wrong I think you better rename your article title to "Chinwel: I missed the boat, I hate it when I see its share prices going up, up & up".

letitgo, do not care about some people here. This is a good article... After all, you only find out who is swimming naked when the tide goes out.

But, I believe your explanation is clear enough to tell everyone to beware of such unsustainable growth...

They don't care about gross margin/net profit margin/ROE/ROIC and etc. To them, "investment" is just as simple as looking at EPS.

However, if chinwell continues to remain same profit margin and revenue, is it going to grow? The answer is NO. Opps, it might grow provided USDMYR continue to go higher, 1:5???

However, that's good enough to them :) Efficiency of a company just a joke to them :)

Probability, you are right that FLBHD is not the same with ChinWell. At least, the growth margin is extra 5% higher. This is the "growth" I observed but how could it have 300% of profit increase with 5% of gross margin increase? It is again due to strong USD. However, revenue growth of FLBHD still play a part. If I discounted away "other operating income", its profit still increase by 2m+ compared to last year... So, FLBHD is still fine but it is not 300% like what you actually see... But you need to beware if the revenue growth is due to what reasons.(again, due to USD???hmmm... then you might see its bottleneck after a year..)

many horse behind booms... LOL... i planned to collect slowly by looking at next qtr result... now up so much~~ 1 keping only~~ can also get a few hundred paper gain~~ keng lo

who want to buy? if buy who they wanna sell? us investor sell to us investor? LOL... the middle range salary group is shrinking~ housing price is increasing, how to afford? lol... if malaysia cannot even attract business or stock market foreign investor, how to attract investor to buy the house? aiyoyo~~

WTW產業顧問公司董事經理符儒仁在《2016年產業展望》發怖會上表示，馬幣匯率疲弱令大馬資產變得吸引，一些國外機構投資者希望進入我國房產投資，以獲取比他們本身國家更高的回酬率。
他表示，在2015年第三季後，開始有來自日本及新加坡的投資者趁著馬幣匯率低時，考慮進入大馬房產市場。

ask this guy use data to prove, don't talk only~~ don't even see any sign of housing price index reversed...

不解5

为何大马股神也介绍这种搞不懂的股,而且介绍在高位.

Why Malaysia Warren also introduced this do not understand stocks, but also introduce high.

===================================================
i also don't understand why you call him "malaysia warren"?

is warren buffet a trader? is keeping a stock for long term = value investing? Then how should we address sifu Cold Eye? Malaysia Benjamin ? LOL

just some views...

Benefit of SSD: http://www.storagereview.com/ssd_vs_hdd

price SSD vs HDD: http://www.diffen.com/difference/HDD_vs_SSD
--> So you see the trend down for both SSD and HDD... wait a moment, is HDD stop decreasing? look like it is the bottleneck... NAND flash still has room to improve anyway.

additional info:
http://www.marketwatch.com/story/2015-year-in-review-the-sp-500-2015-12-28
3. Western Digital Corp. (NASDAQ: WDC) posted a new 52-week low of $66.08 on Friday, before closing the day down about 1.5% at $66.82. The computer storage device maker announced a $19 billion acquisition of SanDisk on October 21, and the stock has dropped more than $5 a share since then. The stock’s 52-week high is $114.69, and shares lost 16% in the month of October.


WDC emphasis on Enterprise storage?? So, more profit margin? Let's see the revenue and earning :http://financials.morningstar.com/income-statement/is.html?t=WDC&region=USA&culture=en_US

Why WDC or HDD sector wants to focus on ES? because they have no way to challenge SSD, in term of speed and power efficiency.

If HDD is so much of benefit and future, why WDC wants to spend billions to acquire sandisk? Wanna turn sandisk to hdd maker? or they want to involve into NAND business?

http://www.wdc.com/en/company/pressroom/releases/Default.aspx?release=e5f16023-3969-4cd0-bc3b-fe7e35572518


Anyway, does SSD win all? no...
1. Price is still higher though it has been decreasing rapidly since a few years ago. With 3D NAND technology mature, SSD could go even cheaper.
2. Data retention issue is the major problem~ But we never know when it could be solved...

no worries, it is a good sharing...


Posted by newcomer123 > Jan 5, 2016 12:21 PM | Report Abuse

sorry. my bad. bad memories. they are starting in KL then aiming China. http://www.thestar.com.my/business/business-news/2015/06/13/smart-home-system-from-pentamaster/?style=biz

REALLY? where did you get the news? got link??thanks

Posted by newcomer123 > Jan 4, 2016 12:37 PM | Report Abuse

well. i think they re starting this smart home business in China first.

I believe Chuah couldn't simply comment on the revenue amount in public press. else, i doubt he dare to attend AGM... LOL... if you read 2015Q1 quarter report, they mentioned about order delay so Q2 will be good... and Indeed Q2 was the best... but dunknow why Q3 report, they didn't predict Q4 will be good in the report? Chuah forgot to mention? Or they could only make it by 2016Q1?

Chuah Family took over Tan's share at 0.75... The private placement was traded at 8% lower and only get ~3m... I do doubt why this was needed...

Let's see how Q4 perform ba~~ no point guess... LOL..

LoT is definitely a big cake for future trend, problem is how much Penta could get?

anyway, famous broker in i3 didn't see smart home as a good business invested by penta... LOL...

Posted by SuperMan 99 > Jan 5, 2016 01:04 AM | Report Abuse

hissyu2, I have made some comparison over the figures in the quarterly reports and the information announced by Chuah in the News, very similar to what you did, it proved that Chuah was honest.

I will publish my research works on Penta here later. Just some predictions & assumptions.

Smart home would be the future trend, just don't know if the timing is right for Malaysia... Do hope Penta will be excel in this :)

above statement was just my prediction, not a buy call... btw, assumption correctness is also depending on the StarBiz press(assume what they posted were real and accurate)

[Pentamaster executive chaimran CB Chuah told StarBiz that the group had so far received orders for about RM15mil worth of semiconductor test equipment to be delivered in the first quarter of 2016 to be used in the smart device segment. “We can expect the first quarter for 2016 to improve by double digit percentage improvement over last year’s same period.

For the final quarter of 2015, the group is shipping out over RM20mil worth of test equipment.]

2015 Q1 Automated equipment Revenue = 7.5m(700k loss); Q2 = 20m (profit =3.6m after deducted 700k loss last quarter); Q3 = 13m(profit = 1.9m); Q4 = revenue more than 20m...

thus, it should have at least 4m of profit...(for Q2, the forex gain wasn't much)... Unless OVSB kacau kacau, else EPS ~2,5+ is not a problem... then, current price is very attractive as the annualized EPS got around 10cents...

+superman's saying: sharp decrease in operating expense ~1.5m(this is one of the reasons Q3 result was good even though automated equipment segment revenue was much lower)

BINTANG, agree with you.

For those huhuhaha folks, Please prove KC is wrong if you guys have any proof/data/evidence, else just keep your mouth shut... Amount of cash in you bank didn't help to prove how good you are. One could be a beast/murder/pervert with billions of cash in its bank. There's no single bad words in KC's articles, please respect yourself and a guru like KC.

Sir, happy new year. May you always in a pink of health. So that, we could continue to have more insight in value investing.

All those advice shall always bear in our mind. And I shall pass them along to family and friends around. Millions of thanks :)

who is the auditor?? kyy's cousin mah~~ ask kyy go check again with his cousin la

Directors disposing! Good news

JiAlat, uncle Koon bought around 20m of units... I hope this is not real, the director holds no share , 0 %

We refer to your Company’s announcement dated 25 September 2015, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. Given that the par value reduction is to facilitate the issuance of Rights Issue shares and there is no accumulated losses by XINGQUAN INTERNATIONAL SPORTS HOLDINGS (“XINQUAN” or “Company”), please provide further justification for your Company to undertake a steep par value reduction from US$0.10 to US$0.01 each.



2. Your Company has represented that it has cash and cash equivalents of approximately RM886.55 million or equivalent to RMB1.457 billion ("CCE") as at 30 June 2015. In this respect, please further substantiate the needs to raise RM26.94 million (Minimum Scenario) or RM50.71 million (Maximum Scenario) via the Proposed Rights Issue with Warrants which represents only 3.04% (Minimum Scenario) or 5.72% (Maximum Scenario) of the CCE respectively.



3. Based on the CCE of RM886.55 million as at 30 June 2015, it is noted that the interest income received, based on the annual audited accounts as at 30 June 2015, is only RMB4,618,000. In this respect, please provide further clarity as to why the return on interest income is so low.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.




A company that holds 886m cash wanna raise fund of 50m? Market value only 200m... Uncle Koon....this is a joke?

so this counter is trading at PE=50x? hahaha..... really good counter

hahaha~~

hhgrp sold jor?

hahaha~~ I really do not know a low ROIC can lead towards bankruptcy ~ you are amazing :)

I didn't study this company. I am not sure if it has FCF every year. But, based on the article below:
http://klse.i3investor.com/blogs/rhinvest/88686.jsp

RichHo was saying Nishin debt is decreasing and cash is increasing... It could tell me, the company is able to generate real cash every years...

I didn't see the share capital increased a lot over years(meaning no other type of finance leaverage)

I am seriously wondering how could a company like this could lead to bankruptcy... LOL

topglove and superln?? one more not sure if it is elsoft.. LOL

pen72, I couldn't do any buy/sell call as I am not qualified to do so... while Penta is investing into new venture(smart home) for the incoming days, I didn't have any idea if they could make money... Like what Ferisc, it seems to be a future trend. But I do not know if the timing is correct...(Bill Gate introduced ipad-like gadget at 90s, but Apple became the leader of this "innovation"... )
Good business required smart businessman as well, else we won't see leaders and losers in the same industry....
Based on the financial statement(historical), Penta was doing well and strong management team is there...Also based on article posted by 4th Nov, Penta core business looks stable still for next two quarters... (btw, I didn't do enough valuation on its financial strength yet)
Question is : If the new venture could bring more fortune? Time will tell :)

i don't think net-net method multiplies inventory by 70% and PPE(unless it is plantation landbank) shouldn't have a valuation of 70% as well...

In fact, for net-net calculation, it ignored PPE...

NNWC = Cash and short-term investments
+ (0.75 x Accounts Receivable)
+ (0.5 x Total Inventory )
– Total Liabilities

Read more: http://www.oldschoolvalue.com/blog/valuation-methods/ben-graham-net-net-deep-value-stocks-checklist/#ixzz3vCekyv28

superman, ya~~ so, basically there's no 4cents EPS for last quarter... no real cash obtained...

cbtinvest, the decrease in revenue that i am talking about next quarter revenue forecast(stated in quarter result)... and you're right, they claimed that last quarter revenue drop due to project delayed... so, next quarter we will see if it is true :)

btw, based on the newspaper article, they got certain order for 2016 d... so, annualized eps = 8cents should be quite fair ba~~

newcomer, Penta disposed its sub-company to others... so, this money losing sub-company no longer contributes to PENTA revenue... how could the revenue went up instantly? unless Penta newly acquired company generated a lot of revenue lo~~ heheh...(but i dun think so fast leh). management is positive to its newly acquired company, but i don't know why~~ hopefully, their confidence is based on forecasted business from existing customers...

jay, it depends on what caused the revenue decline(however, in general,your statement is correct)...

Penta is able to clear all its debt within 3years(if i remember correctly) and become a net cash company... it indicated that Penta management was doing well for its past 3years and able to generate consistent and sustainable real cash through its business... it might not be growing very fast, but based on the annualized EPS = ~8cents(discounted the negative goodwill)... this counter is traded at PE lower than 10x... still okay la~~ as long as the earning is sustainable, then ok a~~

about the dividend, Penta has been using quite some cash to repay debt and expand its business... again, if the earning is sustainable, Penta should give dividend very soon ba~~ since it is able to generate FCF and consistent cash flow from operating activities(instead of borrowing)...

time to take profit lo~~

sir, that's why trader hates you~ your picks are always gaining after a "long" period... traders can never wait... they want to "invest" to get quick gains(though i thought gambling is faster)...
I remember you have an article talks about the return vs time... I see a few stocks in red for 2014 picks but all green in 2013 picks... It's proven again the theory works:)

Merry Christmas and congrats to your gains... Thanks for continuing sharing your hardwork...

VS is a company that depends on borrowing to keep its daily operation continues...

investors are getting smarter... pretty hard to spot hidden gem... KC's picks are mostly time-proven-strong... anticipated to look for your 2016 picks...am surprised padini wasn't in your previous porfolio.

the revenue confirmed drop as per mentioned in quarter report. the money losing subset was sold mah

Harlow joker
淨利大漲 投資者追捧
'The Busy Weekly' - 2015-12-12
若以產品區分，電梯製造和維護服務分別貢獻了31%和11%的營業額，總計42%是公司最大的銷售來源；母線槽部門的貢獻則為17%，當中超過一半來自出口市場。
母線槽是一種高效輸送電流的配電裝置，取代一般電線使用於傳導高電壓，在大型工程和建築物廣泛被使用，也包括電梯的電力傳導。
外匯對衝策略奏效
雖然市場看來對本次的業績感到相當滿意，惟益大資源首席財務員高寶玉向《資匯》表示，第4季淨利大漲，主要來自公司外匯對衝策略奏效，透過期貨合約取得未實現盈利，屬於一次性收入。
在2748萬令吉稅前盈利當中， 1122萬令吉來自匯率期貨合約的紙上盈利，實際上，營運盈利雖按年下滑9.6%，營業額卻提升了36%，證明銷量和訂單有所增加。

Copyright © 2009-2014 Oriental Daily Sdn. Bhd. All Rights Reserve

. Lol... It's a non recurring income...

apala~~ ROE= net income/(total asset-total liabilities). If debt(liabilities) increase, then your denominator smaller, so provided larger ROE LO~~ so, dont kena tipu by high ROE company with they possess high debt~

a few of more than 10k units shares were transacted recently, price around 1.75-1.78...

RM: Anything else except from those general market POV(cheap labour, tppa, currency strength, basically this is a old nanny story that repeated in many export counters)? how's this company financial strength? is it strong? how do you tell it is strong? how strong it is? What's its strength compared to other export counters? I could find many counters that fulfill those criteria, as a good investor, mind to tell me more why Magni but not others?

Is the comment below is what you aware of(the good/upsides of Magni)??? Saw you comment many at Latitud as well, so how do you compare these two? which is better? Hope you don't mind to share more with us? i believe you must be studying a lot in Magni that's why you are so confident on her like what i am :)

Magni is relatively in a better position to reap the benefits of :
- Weak MYR vs USD
- TPPA implementation
- Yuan weakening
- investments in Vietnam with a cheaper labour cost vs Msia

Prolexus has just about to make baby foot in Vietnam.

Tell me, which is more value for money investment? Prolexus or MAgni? u decide.

so many "investors" make buy call on magni simply because "strengthening of USD"?? hmm... cannot be more funnier than this...

Kevin, real value investor never "time mkrt", because Mr. Market is definitely UNPREDICTABLE. Only traders do guessing... Investor like WB, they invest based on fundamental...

Very bad cash flow, high debt, low TIE, negative FCF, increasing inventory, increasing receiveable and trade payable are alarming. Spending a lot in PPE In an unreasonable high and continuous high amount... Company is doing borrowing to keep its daily operation... Perhaps, "high growth" but not really a good pick while we hAve so many better choice out there. I'm little timid low risk taker... This company looks really bad to me

We refer to the Announcements in relation to the Proposed Private Placement.

On behalf of the Board of Directors of Mikro, Alliance Investment Bank Berhad wishes to announce that the Company had on 9 December 2015 (“Price Fixing Date”) fixed the issue price at RM0.355 per Placement Share. The issue price of RM0.355 per Placement Share represents a discount of approximately 9.72% to the five (5)-day volume weighted average market price of Mikro Shares, up to and including 8 December 2015 (being the last market day prior to the Price Fixing Date) of RM0.3932 per Mikro Share.

The payment from the placee(s) are expected to be received within five (5) market days from the Price Fixing Date.


huhu... can earn 6cents immediately by selling the private placement >.<

better beware of this company... the profit might not be real... inventory and receivable are both getting higher and borrowing keeps increasing... it might be sign of expanding, might be not...

lol... 110m contract within few days... but share price is hovering at this level. not goreng counter, good

look like private placement was eaten by orang sendiri instead of others..

Wow... Sold at 75c bought at 60c, such an easy for subs shareholders... Hahah

Koon’s share selection golden rule: the company must be able to make more profit this year than last year as shown in their recent quarterly result.

then is see yearly or quarterly result leh?

lol... i thought he just recommended HHGROUP and johotin which just announced a weaker rev+weaker profit qtr report? did i see wrongly?

lol... got a 60m contract~~ but share up because of company share-buy back LOL

with quarter GDP of ~7%(lesser than 7%), we know china is slowing down... but china market isn't down or weak unless HHGRoup is talking about share market which was bubbled during July-Aug this year...
China 11/11 sales was 4.7x than USA Cyber Monday sales this year, another record breaking...
China market bad?? hmm... HHGroup is still a good company but is it very undervalued now? I am hesitated to say yes...