I-berhad market capital now only RM 233m. But, I-berhad have completed Central-icity mall at cost RM 850m, in which Iberhad have 40% stake or RM 340m, retain as investment. Just alone mall itself already far above i-berhad entire market share value

sold back uzma at 97.5-98sen

I berhad and WCE berhad both share similarity due to fund raising via preference share. Both share under serious downward when its PR was listed. WCE went down as low as 29.5sen and recover back now at 36sen. I-berhad today went down to as low as 21sen, once PR overhang resolve, I-berhad will likely recover back too.

The upcoming Q3 result will record maiden profit contribution from Central 1-city shopping mall, build at cost RM 850m, i bhd have 40% stake.

https://www.nst.com.my/news/nation/2019/06/496562/central-i-city-shopping-centre-opens-shah-alam

add more at 21.5sen

bought ibhd at 22sen

bought back uzma at 93.5sen

sold at 99-1.00, cut loss

After RTS announcement, next will be Bandar Malaysia and HSR

sold back malton at 50sen

sold back gbg at 1.32

sold back gbg-wb at 38sen

sold back homeritz at 68sen

Use all balance capital, fully in uzma at 1.04

bought back all Uzma at 1.05

balance order at 1.14, all matched

Still have last portion at 1.14 awaiting sold off all

sold back again at 1.13

bought back all at 1.10

sold back awc at 64.5sen

sold back myeg at 1.12

There is nothing change in MyEG fundamentally. The only trigger selling pressure is technical chart pattern which is classic double top formation resulted trend reversal to bearish now. As these formation have nearly completed now, the share price will likely rebound tomorrow and then stabilize in narrow range later.

The catalyst to reverse the trend back to bullish is upcoming Q4 result. MyEG should deliver consistent profit with likely earning surprise growth if MyEG opt to write back earlier impairment on Malaysia GST tax monitoring system and device due to successful redeployment f these system and device to Indonesia market now.

Myeg have developed, PayMe, a blockchain-based payroll management software. PayMe offers a cost effective alternative for companies that employ a sizeable workforce with dynamic remuneration packages, which include recording and managing worker overtime accurately and efficiently.

Blockchain architecture is ideally suited to resolve the prevailing inefficiencies in payroll management in view of the immutability of the technology, where data cannot be unilaterally altered once recorded.
Furthermore, the distributed nature of blockchain means stakeholders would have full access to the data, ensuring transparency and minimising the possibility of potential disputes

Leveraging the benefits of blockchain architecture is one of MyEG's core focus presently. MyEG is well positioned to deploy industry-wide blockchain solutions that maximise the potential of the distributed ledge

The pilot trial on PayMe have received positive feedback. MyEG is now expect to commecial launch PayMe soon.

Declared 1.5sen dividend

bought back all Homeritz at 66.5sen again

sold back all Homeritz at 70sen

The investable Net cash company MUST have possess condition precedent such as consistent deliver POSITIVE EPS from CORE business, valuation PE <10x and consistent dividend payout to shareholder.

Dutaland, despite is net cash position due to disposal its palm oil, but it only promse to give 5 sen for 2 year to shareholder as special dividend. Dutaland have loss of core business, it need to conserve cash to buy NEW CORE business before can generate consistent profit

Homeritz is net cash company, consistent dividend payout will cushion share price from further downside risk.

US is new market for Homeritz. Although already recently secure 8 new customer from US, the order need TIME to fulfill and deliver to US customer before PROFIT can record in. Expect US order profit should be able to record in next Q result.

Malton divest Pavilion already greatly alleviate financial burden to build up the mall at cost which only able to commecial operate in 2021. The divestment mall also monetize the mall prematurely as the mall already in progress up to 42% now.

All balance capital fully in Myeg at 1.09

bought back homeritz at 68sen

sold back at 69-70sen

Malton may declare special dividend as it have completed divest its jewel of crown, Bukit Jalin Pavilion mall

https://www.thestar.com.my/business/business-news/2019/10/29/regal-path-secures-rm11bil-for-pavilion-bukit-jalil-mall

EPS 1.49sen, dividend 1sen

lower than expected result.

Pohhuat and Pohuat-WB trading at discount despite still have 1 year validity. Homeritz-WB although is newly listed, but it have only 3 year validity.

Compared to Pohhuat, Homeritz even have higher dividend yield, therefore, lower premium on WB is fair to compensate for absent of entitlement on dividend

Expect Homeritz to declare dividend, but warrant is no entitle

bought Homeritz at 73sen

sold back Homeritz-WB at 24sen

sold balance all at 3sen

sold partial, and keep balance to subscribe or sell at higher price later

WCE-WA have 10 year validity till 2029, and have 2 set of exercise price 39sen for first 5year, exercise price increase to 45sen after 5 year till end 10 year.

As WCE will start toll collection begin Dec 2019 for section 5, 9 and 10, therefore, WCE financial performance will getting better in future and pose exacerbate growth once remain 8 section complete and open for toll collection next 2 year, in 2021-2022.

The exponential growth of WCE will definitely serve as catalyst to propel WCE share performance much higher above warrant exercise price 39sen or 45sen. In short, WCE-WA is very valuable and leverage exposure to WCE

With purchase price for WCE-PR at 2sen + pay for 24sen for each RCPS. Every 4 RCPS subscribe entitle 1 free warrant.

Based on Trinomial option pricing model, the indicative fair value of the warrant is 21sen.

In summary.
total cost to buy right for right is 2sen x 4 WCE-PR = 8sen
total subscription for RCPS is 4 x RCPS x 24sen = 96sen
total subscription to convert into NEW WCE share = 4 RCPS x 4sen
Grand total cost = 120sen

total FREE warrant 1 x fair indicative price = 21sen

Grand total NETT cost to convert into new 4 WCE share
total cost 120sen - FREE warrant 21sen = 99sen
Therefore, each NEW WCE to be convert from RCPS is 24.75sen/NEW WCE share,

Market WCE price now is 31sen, potential gain is AT LEAST 25%. The higher the WCE share recover from bottom due to right issue, the higher the potential gain above 25% return.


Remark: RCPS once listed can be at anytime convert into new WCE share by topping 4sen for each RCPS to get 1 New WCE within 2 year tenure of listing.

The US first slapped a 10% tariff on furniture imports from China in September last year. The tariff has been raised to 25% since June 2019 and will be further increased to 30% from December. As furniture exports from Malaysia are spared the tariff, this translates to a tremendous price advantage for Malaysian furniture. Home grown furniture maker, homeriz has manage to sign on 8 new US customers so far in 2019. Malaysia furniture exports is expected to grow by 6.1% to US$2.7bil (RM11.3bil) in 2019, accelerating from a 3.1% growth rate registered in 2018.

If compared to last year, WCE share price RM 1.00 and share volume 1 billion, have market value RM 1billion is deem undervalue based on potential future cash cow highway, then , today, WCE share price RM 0.31sen with market cap only RM 310m need to compensate with higher new convertible preference share at 24sen + warrant.

The collectively new share to be converted and future warrant + existing share volume are about 3 billion share. and if based on today closing price 31sen, total market value of entire WCE is still about the same if compared to last year. Therefore, despite huge dilution of new share and warrant, but for NEW investor now, it will able to enjoy same stock value if compared to old investor whose invest many year ago.

In short, the right share and warrant offer great opportunity for NEW investor or late comer to enjoy similar stock value if compared to whose invest earlier or long term investor. While acknowledge long term investor are losing time value due to fall in share price and huge dilution if opt to no subscribe right, but, now, at least new investor can have equal benefit to join those early bird to enjoy WCE upcoming part of toll collection revenue begin December 2019.

The WCE share have been pressing down significantly, oversold. Once share rebound back, WCE-PR will be very attractive.

WCE-PR have will have 100% subscription rate.

Aside Major shareholder undertaking all + major shareholder also will apply excess up to 80% + RHB underwrite all balance 20% in the event retail shareholder unable to subscribe

It is worth of subscribing WCE-PR at 2 sen + subscribing price 24sen = total cost 26sen.

Every 4 subscription entitle 1 FREE warrant, 10 year period

bought homeritz-WB at 22sen

Bought WCE-PR at 2sen