another short-sighted member joined the gang of Rocky... are you expecting a buy today and a rise tomorrow? my goodness and god bless you...
think in your mind... will the construction projects (SCORE, PAN BORNEO, flood mitigation, waste water treatment, road upgrade, etc) that were awarded 1-2 months ago will immediately recognize tonnes of revenue for these companies? You have not even waited for the next few quarterly reports to tell if they are making good revenue and profit.. sad for you guys... go speculate other stocks which give u maybe 100% return in one day...

not so excellent actually... haha... but the future growth (comeback) should be noted... they mentioned in the quarterly report that they are growing into other indo China countries (Cambodia, Vietnam and Laos) after they succesfully entered Myanmar in 2015...overall, Malaysia and Indonesia market is slow for Zhulian, but still has a lot of potential in Thailand, Myanmar, Vietnam, Cambodia and Laos... if all this materializes... Zhulian may be back to high earning... anyway, for now, just keep it for good dividend (full year 6 cent).. dividend yield 4.38%, better than FD la...

cpng, you seem to understand Frontkn well enough... can you share your views on how you think this company will perform (the revenue and profit/loss) for the next few quarters... and also the reasons why you think so... thanks..

agree with what Ex-CFO said... anyway, USD will remain around 4.00 in the next 1-2 years i think (or longer). I think this is still in favor of Evergreen as they have a lot of exports sales denominated in USD... next few years the results will still be very good...

collected some Melati shares at 70sen... if it drops more, i will buy more...

i am not selling a single share yet... let's continue to hold firmly onto it...

i think RM3.50 is achievable after the release of next quarterly result (which I believe will be wonderfull!)

hi GGmalaysia... here is a true evergreen investor... dun leave me out.. haha... i am holding Evergreen even before their bonus issue, and is already having more than 200% paper gain.. but i still don;t bother to sell as it is still very undervalued... if we pay some time to do homework, we know that Evergreen's earning is still very strong, good management and reasonable PE...

haha... rocky is definitely the shortest-sighted person in the world (or one of those).... he is talking about current price and does not have any sense in future price (due to strong performance from the companies)... he expects to buy a share today and the share price will be doubled by tomorrow...

keep up the good work...

so if i have to choose either Magni or Prlexus, I would opt for the former

On the other hand, I am a bit paranoid and skeptical about the ability of PRlexus to utilize the equity to generate more EPS... please see what Warren Buffet said:

Warren Buffett’s investing principles focus on return of equity, ROE. This is his thought.

“Customarily, most investors measure annual company performance by looking at earnings per share (EPS). Did they increase over last year? Are they high enough to brag about? For his part, Buffett considers EPS a smokescreen. Most companies retain a portion of their previous year's earnings as a way of increasing their equity base, so he sees no reason to get excited about record EPS. There is nothing spectacular about a company that increases EPS by 10%, if at the same time, it is growing its equity base by 10%. That's no different, he explains, from putting money in a savings account and letting the interest accumulate and compound. Worse still, there are many companies borrow huge amount of money to improve EPS, but the marginal return is way below its borrowing costs.

The test of economic performance, he believes, is whether a company achieves a high earnings rate on equity capital ("without undue leverage, accounting gimmickry, etc."), not whether it has consistent gains in EPS. To measure a company's annual performance, Buffett prefers return on equity or ROE. -- The ratio of operating earnings to shareholders' equity.”

I don;t own any Magni share as well, but to me, Magni has a much better ROE and this means they need less equity to earn more money....

i think i am in love with you leno, even though i suspect you are a guy too... haha... ur "Boh Chow CCCC AAA" is simply too epic... haha

may i know how much is the "small fee"?

R40s, I think you still didn't get me right... what I mentioned is: in Q3 report, NA is 1.19... but the share price has been "adjusted" due to RI and Warrant... so, to match the price and NA, we should use the same period, which is after RI and warrant... after RI and warrant, the NA is supposed to be 78sen.. the share price of RM1.46 is after RI and warrant so it matches with the 78sen NA... you get what I mean?

I think mango2 is making a very valid and reasonable remark there... in a year that produced (from mining) 27.35kg of gold, and they only started the mining activity end 2014/early 2015.. it is impossible for them to mine all 600kg of gold... and it is quite obvious they bought these amount of gold for trading purposes... RIsk: no one knows what is their average price of buying these gold.. could be on the high side, that is why they are still keeping the gold and would like to wait for profit... what if the gold price will not advance more than their average cost price in the next few years? At first it seems attractive to me too, but now there are too many uncertainties and the company is so secretive and non-transparent, it makes me halt and just monitor for now... anyway, for those who are already in, I wish you good luck and wish you can earn money from here... for Hari Raya spending spree!!! cheers....

seems like we can buy more after Hari Raya due to the recent drop... what a discount now to investor!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5122185

2sen dividend at price of 43sen. DY = 4.65%...

First and Final Dividend

PANSAR BERHAD

EX-date 24 Aug 2016
Entitlement date 26 Aug 2016
Entitlement time 05:00 PM
Entitlement subject First and Final Dividend
Entitlement description First and Final Final Single-tier Dividend of 2.0 sen per ordinary share of RM0.50 each for the financial year ended 31 March 2016.
Period of interest payment to
Financial Year End 31 Mar 2016
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no METRA MANAGEMENT SDN BHD
30.02, 30th Floor, Menara Multi-Purpose
Capital Square
No. 8 Jalan Munshi Abdullah
50100Kuala Lumpur
Tel:0326983232
Fax:0326980313
Payment date 23 Sep 2016
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers 26 Aug 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator Currency
Currency Malaysian Ringgit (MYR)
Entitlement in Currency 0.02
Par Value Malaysian Ringgit (MYR) 0.500

and for the 55.2 proceeds, normally it won't be translated 100% into the balance sheet as net asset, like you mentioned... and i think you are right about the depreciation and the risk of them not using the proceeds properly...

hi R40s, I am also not an accountant.. I did "not" use the NA at q3 period close.. see my reply clearly above.. i used the estimated q4 NA of RM0.78. WHat I wanted to highlight is, the current share price is already reflective of the RI and warrant, but the NA is yet to show that in Q3... so I said Price/Net asset = RM1.40/RM0.78=1.79 (>1.5 ratio)

hi R40s, I am also not an accountant.. I did "not" use the NA at q3 period close.. see my reply clearly above.. i used the estimated q4 NA of RM0.78. WHat I wanted to highlight is, the current share price is already reflective of the RI and warrant, but the NA is yet to show that in Q3... so I said Price/Net asset = RM1.40/RM0.78=1.79 (>1.5 ratio)

hi Ex-CFO, I can understand why their inventories are quite high... Evergreen is the number 1 (biggest) MDF exporter in ASEAN region... their sales are so high and for such big volumes, they definitely have to give payment credit terms to the customers (perhaps 90 days - this is quite standard).

rocky, pls do not act so childishly... i am not giving up.. i am just a bit fed up to respond to your pointless argument... i am still holding a huge number of PANSAR shares and i have asked the investors to be patient.. (wait for upcoming quarterly results) due the the recent mega contracts awarded to many Sarawakian construction companies... (PAN BORNEO, SCORE, roads upgrade, flood mitigation projects, waste water treatment etc)... you are so short-sighted that you dont understand what is "prospect"... just go and speculate your aluminium commodity price... you are a speculator who does not count on fundamentals... it is a waste of my time explaining to you here...

yaya... "ur" PMETAL is the best stock in Bursa.. we know it is urs (you are the biggest shareholder)... i am not sure about PMETAL honestly speaking but i know its price shoot up recently due to the recovery of aluminium price... but we want to talk about facts... you can give facts why HSL is not good (we can accept).. instead of just saying this share is dead, etc... not constructive enough, u see?

haha... Jack, you see how childish this Rocky is... grow up Rocky... else we should call you stony (Rocky is a grown up version of Stony)...

typo.. should be 99 Speedmart

Melvin has got a point there... 00 speedmart is cheap and a lot of time even cheaper than Giant, Tesco, etc...

yes, Family Mart is coming to town... i hate 7-11 so much due to their expensive pricing and based on my experience travelling in Thailand (a lot of Family Mart convenience stores there), Family Mart is way cheaper than 7-11... Vincent Tan, I hope your 7-11 will go bankrupt on day... haha...

guys, evergreen and hevea are abang adik.. let's hope both of them can catch the eyes of more investors... they are indeed good in terms of fundamental although i still prefer evergreen.. haha... good luck all of us...

R40s, it is your assumption that the funds raised from RI will be included in the balance sheet as net asset... i normally do not like assumptions... haha... so I would still be conservative to think that the NTA is around 78sen... we should see how much of value is added to the balance sheet in next quarterly result... for Magni, what I meant is their profit growth and the dividend yield.. much better, and their ROE also better.. and they require less capex to earn more money.. just my 2 cents

Hi R40s, I have actually explained it above.. i copy and paste here again:
another remark of mine is on the "intrinsic value" of this share after the right issue..
current Net asset is RM1.19/share. after right issue, it will be RM1.19x108.35/165.15=RM0.78.
Price/Net asset = RM1.40/RM0.78=1.79 (>1.5 ratio)... which means we are using extra money to buy lower value shares... (if you follow "value investing" method)...

his Ex-CFO, i cannot agree more... nice comment!

Hi R40s, I have actually explained it above.. i copy and paste here again:
another remark of mine is on the "intrinsic value" of this share after the right issue..
current Net asset is RM1.19/share. after right issue, it will be RM1.19x108.35/165.15=RM0.78.
Price/Net asset = RM1.40/RM0.78=1.79 (>1.5 ratio)... which means we are using extra money to buy lower value shares... (if you follow "value investing" method)...

just my 1.5 cents, i know some investors (even myself sometimes) will become too subjective in own's belief once they are already in a certain share.. perhaps this is a common mistake we made - to try looking for reasons to justify our decision made in choosing a certain share... perhaps we should be more objective?

Jack Wong.. give me five... I have mentioned this since day 1 when ROcky was trying to instil fake negative statement in HSL. if Rocky is not interested in this share, how come he spends so much time in this HSL forum? right? haha.. his intention is obvious... he is trying to pull the price down as much as possible... why i said so? he never gives any actual facts (like us).... yes, we can comment if the share is good or bad.. but must give facts la... he gives zero fact... poor him...

icon, paperplane, sorry but no offence. I have to agree with mango2 on his statement. In a whole year, the gold mined was merely 27.35kg and if we divide by 12, it is about 2.28kg (which is very close to what they announced in the May monthly production report (2.6kg)... gold dore is 70% gold and 30 silver so it is about 2.6kg x 0.7=1.82kg pure gold (production of pure gold within a month)... So i have to believe that most of the inventory (600kg) is bought from 3rd part for trading purposes (and this is a bit risky if gold price drops, even though many said gold price is likely to go up)...

thanks for the explanation Jonathan and paperplane...

haha.. leno reminds me of the Transmile story.. yes, i am aware of it... sometimes even the richest man would make mistake in investment... but we are yet to determine if HapSeng boss is also falling into the "trap" or "gold mine"... haha... hard to tell now...

thanks for the info gathered, icon. Must have exhausted many candles last night, haha... btw, this stock looks attractive in one way but also poses certain level of risks to investors if you are wary enough. See below my concerns (just my 1.5 cent):

1) After the private placement in 2013/4, the company asked for another humongous fund from the shareholders via Rights Issue... I do understand that this is all because the company needs a lot of capex to run the mining business, and also because of its difficulty to borrow from the banks... but please think it into a second level, does this mean this kind of business requires a lot of funding (continuously) from the shareholders in future if they obtain more leases for gold mining? (I would say yes)... and does this translate into a statement that shareholders should be prepared with more $$$ to sign up for upcoming Rights Issues activity? (very likely as they can't get any bank loans).. of course you can sell the OR rights if you do not want to subscribe for the RI... but to me, to many fund-raising exercise like this is not conducive for investment... investors normally don't like it, and this may lead to the drop of share price when new RI is announced.

2) How efficient is Bornoil in terms of translating these funds into actual net profit? This is yet to be seen. But you can see that their investment in machines, equipments and other facilities require hundreds of millions. And how fast can they earn back this money? I like what sifu KC Chong has said in the past, the earning growth must be at least proportional (if not better) than they money they invested. For instance, if a company used 100M to generate additional 3M income, this is only 3% and it is better to put the money into FD.

3) Transparency of this company. Many have noted that the management remains very clandestine/secretive when publishing the details. This poses the risk of what our "Boh Chow CCCC AAA" friend has always been talking about... we can be dreaming our Utopia with wishful thinking but we also have to weigh on the potential downsides, if any (to be neutral).

4) Over liquidity of outstanding shares in the open market. To me, the less the floating shares in the open market, the better. This is not difficult to understand - many mentioned that the trading volume today broke 100M shares and are still very excited about it.. but please do not forget that this share has 2970millions outstanding shares so it is only about 3% of total shares that are being traded. At extremely high quantity of outstanding shares, many tend to sell for profit-taking/quick gain and this is very likely to obstruct the rise of the share price.

someone pls answer my questions... thanks...

haha... i love that epic last part of Leno's comment: BOH CHOW CCCCCCCCC AAAAAAAAAAAA !!.... this is funny enough... no offence to the fans of Bornoil though...

leno, i have seen your previous posts and can fully understand your doubts and suspects on this share.. in fact, I do agree that Bornoil is not a transparent company that they do not release sufficient info the public... however, I cannot rule out also there is a chance for this share to go up if the account turns out to be real and if their future earnings grow... just that for now, it is too confusing to me in terms of their "gold mining & trading" business....

i know they are doing the physical / ground work of "looking for" and then "mining gold"... just I do not understand how this industry is run. Could be any of the below scenarios?

1) They don't own the gold mines (the land and the gold beneath the land). They are just sub-contractors who helps someone else in conducting the mining operations. They are not actually "trading" gold (which actually belongs to the owner of the gold mines), they are just reaping a certain small % of profit from helping these owners do the mining work. They counted the overall gold values (which belong to other owners) as their revenue so their revenue is extremely high.. but since they reap small portion of % (or commission, up to what you want to call it), their profit margin is very low.

2) second scenario is close to scenario 1, they lease/rent the lands from the land owner... again, the land and gold do not belong to them. They put in expenditures to mine golds but again, the earn on small % of profit (as commission)

3) they really own the land and the gold... if this is the scenario, then they will be very profitable down the years when the output is high (which is unlikely, as they only mentioned they owne 800+ acre of land with limestone, but none of these lands are gold mines)

so i need some sifus to enlighten me on how the "gold mining & trading" business is actually run...

thanks...

paperplane/YOLOOO/ktsk88 /Icon... can you all enlighten me on what kind of "gold mining/trading" activities BORNOIL is involved in... in the Annual Report, the chairman put a lot of flowery words in terms of the "nature of this gold mining business" (on how hard it is to discover gold, etc), but barely touch anything on their actual business... i find it very confusing because on one had, Bornoil said they are venturing into gold mining (so I expect they own the gold mines)... one on hand, they said they are sub-contractor for another company...

To recap, BOG was appointed by Champmark Sdn Bhd in March 2014 as its contractor to prospect and mine alluivial and lode gold on an exclusive basis in an area covering some 162 ha in Merapoh.
from: http://www.thestar.com.my/business/business-news/2016/06/10/borneo-oils-gold-mining-venture-pays-off/

Does that mean:
1) They do own some gold mines
2) at the same time, they are also sub-contractor for other gold mining companies to help dig gold? (which they don't own these gold mines)...

Sifus above, please enlighten me....
Thanks in advance....

paperplane/YOLOOO/ktsk88 /Icon... can you all enlighten me on what kind of "gold mining/trading" activities BORNOIL is involved in... in the Annual Report, the chairman put a lot of flowery words in terms of the "nature of this gold mining business" (on how hard it is to discover gold, etc), but barely touch anything on their actual business... i find it very confusing because on one had, Bornoil said they are venturing into gold mining (so I expect they own the gold mines)... one on hand, they said they are sub-contractor for another company...

To recap, BOG was appointed by Champmark Sdn Bhd in March 2014 as its contractor to prospect and mine alluivial and lode gold on an exclusive basis in an area covering some 162 ha in Merapoh.
from: http://www.thestar.com.my/business/business-news/2016/06/10/borneo-oils-gold-mining-venture-pays-off/

Does that mean:
1) They do own some gold mines
2) at the same time, they are also sub-contractor for other gold mining companies to help dig gold? (which they don't own these gold mines)...

Sifus above, please enlighten me....
Thanks in advance....

see here for the details of my conversation with Mr Kuo, the COO.

http://klse.i3investor.com/servlets/stk/5101.jsp

cheers....

okla.. guys... let me recall my statement.. let's enjoy investing here.. no matter it is Evergreen or Hevea... i have no doubt that Hevea is also a good company.. just that I prefer Evergreen due to its strong management (the COO called me before and answered my questions that I sent in an email)... I was quite impressed and I felt the top management is very sincere and honest, and not over-committing/lying...

http://klse.i3investor.com/blogs/hleresearch/99186.jsp

Market Strategy
Although global markets have swiftly priced in Brexit impact since 24 June, KLCI may continue to exhibit volatility this week amid shaky performances in the global equities, commodities and currencies markets amid uncertain long-term risks such as (i) fragility of EU as a political union; and (ii) the rise of populism & nationalism. Sentiment will also be affected by tepid local corporate earnings, slowing domestic economy and uncertainties over the Federal Reserve’s monetary policy (although most likely to defer further towards end 2016).
Ahead of the potential end June window dressing and commitment by major central banks to inject additional liquidity and maintain accommodative monetary policies, near term KLCI supports are likely to be supported at 1600-1611 while resistances remain at 1635-1642 levels.
Stock on radar: EVERGRN remains one of HLIB institutional top export -oriented picks with target price of RM1.60 or 46.8% upside. (See separate report today)

馬幣受美國加息預期升溫、國內經濟減緩等影響而回軟，相信可以提振該公司盈利。
“馬幣每漲跌10仙，該公司2016和2017財政年盈利將改變13.1%和12.3%。”
該行披露，該公司的自組家具生產線上月已投運，管理層計劃2017財政年下半年增設新生產線。
豐隆研究納進中密度纖維板跌價和橡膠木成本下降等條件後，調低該公司2016財政年盈利預測10.7%。
至於2017財政年盈利預測則保持不變，因為橡膠木降價、自組家具生產線投運和馬幣貶值等利好，足以抵銷產品跌價的利空。
豐隆研究保持長青纖維板的“買進”評級和1令吉60仙目標價，並提醒說，現有估值尚未納入兩項總值1億令吉或每股11.6仙的非核心資產，包括加享的橡膠園坵和馬賽的工業土地。（ 星洲日報／財經‧報道：王寶欽）

馬幣受美國加息預期升溫、國內經濟減緩等影響而回軟，相信可以提振該公司盈利。
“馬幣每漲跌10仙，該公司2016和2017財政年盈利將改變13.1%和12.3%。”
該行披露，該公司的自組家具生產線上月已投運，管理層計劃2017財政年下半年增設新生產線。
豐隆研究納進中密度纖維板跌價和橡膠木成本下降等條件後，調低該公司2016財政年盈利預測10.7%。
至於2017財政年盈利預測則保持不變，因為橡膠木降價、自組家具生產線投運和馬幣貶值等利好，足以抵銷產品跌價的利空。
豐隆研究保持長青纖維板的“買進”評級和1令吉60仙目標價，並提醒說，現有估值尚未納入兩項總值1億令吉或每股11.6仙的非核心資產，包括加享的橡膠園坵和馬賽的工業土地。（ 星洲日報／財經‧報道：王寶欽）

chernhung, remember back in 2013, the company was suffering a loss? I wrote an email to them asking about the prospect... Mr Kuo called me and told me that they did not foresee their business will turnaround in the same year and will still suffer losses, but he said he expected 2014 will be able to turnaround and make profit.. reasons were: in 2010-2012 period, MDF business was booming so many small companies (in ASEAN region) were set up to join the wave... this has caused over supply in ASEAN region and caused the MDF price to drop to remain competitive.. furthermore, that time US and Europe market had not recovered yet... but mr Kuo said he had seen more and more smaller scale MDF players vanish due to the bad situation.. and as a result, Evergreen is a much stronger player who remains alive and when the market turns better, there is less competition then.... and they have the pricing power in hand to control selling price... in 2014-2015 when USD further stregnthened.. this was out of my expectation.. this helped to further boost their revenue in MYR... and recently many sold export-oriented shares due to short-term strengthening of MYR.. but u look at long term, Brexit and uncertainties in EU, USD to remain strong and even get stronger.. and FED will likely raise interest somemore.. in short, I am very satisfied with Evergreen's top management and I can feel that they are sincere and honest, and not over-committing like some companies... when they dun expect they can make profit, they tell you honestly... so I started buying them at 70-80sen (before the bonus issue) and i have gained >100% on this share... yet, I am still holding it as I expect upcoming quarters will be better... why? u see Q1 result... there were some forex losses.. in Q2, (as comparision to Q1), they will have forex gain...