Look at the healthy improved fundamentals and facts :-

• TOTAL REVENUES: is up (increasing to RM1,228M (from Rm960M in 2017)

• CASH HOLDINGS : is up (increasing to RM531M (from RM202m IN 2017)

• FULL YEAR NET PROFITS IS positive at RM9.018m

2018 continues to be profitable.
Fundamentals are strong and prospects for GROWTH are good

Calvin, Thanks for the very comprehensive comparitive analysis.

Provided very important facts and figures to support the solid fundamentals of PANTECH.

Very valuable financial insights of Pantech expertly and honestly presented.

Attested to the solid fundamentals and bright business prospects of Pantech.

All pointing positively towards Pantech having all the merits in fast becoming a leading Oil & Gas related Growth Stock.

Petronas is also in Top 30 of Pantech. Petronas owns 4 million Pantech shares

More than that

Petronas has appointed Pantech to maintain and service the Rapid Refinery in Pengerang

AND this is a perpetual contract which means for forever.

So Pantech has a built in stability that is Rock Solid

OTHER MAJOR INSTITUTIONAL SHAREHOLDERS (IN ADDITION TO PETRONAS)
INCLUDE ROBERT KUOK'S WILMER (GIANT OIL PALM PLANTATION CO) AND
FELDA

PANTECH FAST BECOMING THE OIL & GAS RELATED GROWTH STOCK
PANTECH HAS VERY STRONG FINANCIALS :
• CONSISTENT QUARTERLY PROFITS
•
• LAST 4 QUARTER PROFITS
•
• 1.51 SEN
• 1.46
• 1.90
• 1.51
•
• TOTAL 6.38 SEN
SO PANTECH HAS An earning growth OF 11.9% OR P/E 8.38?

but that is not all

Pantech is also into PROPERTY INVESTMENT ( Investment in Factories, Industrial lands & warehouse )

and NTA has also grown quietly from 74 sen to 78 sen. SO there is a growth of another 4 sen

now add 4 sen to 6.38 = 10.38 sen

then the equation will be

Pantech Earnings Growth (EPS) is 10.38 divides by 53.5 sen or 19.4%

And a P/E of 5.15

SO IN JUST 5 SHORT YEARS YOU CAN DOUBLE YOUR MONEY IN PANTECH!!
CONSISTENTLY PAYING DIVIDENDS

17-Jan-2019 20-Mar-2019 DIVIDEND_SHARE Second interim dividend 1 : 100
24-Oct-2018 27-Dec-2018 DIVIDEND First Interim Dividend RM 0.005
27-Jun-2018 31-Jul-2018 DIVIDEND Final Dividend RM 0.005
26-Jan-2018 28-Mar-2018 DIVIDEND Interim Dividend RM 0.005
24-Oct-2017 27-Dec-2017 DIVIDEND Second interim dividend RM 0.005
26-Jul-2017 27-Sep-2017 DIVIDEND First Interim Dividend RM 0.01
28-Jun-2017 02-Aug-2017 DIVIDEND Final Dividend RM 0.005
12-Jan-2017 29-Mar-2017 DIVIDEND Interim Dividend RM 0.003
05-Dec-2016 19-Dec-2016 BONUS_ISSUE Bonus Issue 1 : 5
05-Dec-2016 19-Dec-2016 BONUS_ISSUE Bonus Issue 1 : 10
18-Oct-2016 29-Nov-2016 DIVIDEND Second interim dividend RM 0.005
21-Jul-2016 28-Sep-2016 DIVIDEND First Interim Dividend RM 0.005
29-Jun-2016 27-Jul-2016 DIVIDEND Final Dividend RM 0.005
29-Jun-2016 27-Jul-2016 DIVIDEND_SHARE Final Dividend 1 : 100
20-Jan-2016 16-Mar-2016 DIVIDEND Interim Dividend RM 0.0050

GOOD NTA
AT 53.5 SEN WITH NTA OF 78 SEN PANTECH IS SELLING AT A NICE 32% DISCOUNT TO NTA WHICH QUALIFIES BEN GRAHAM 30% MARGIN OF SAFETY.
RNAV OF NTA WILL BE MUCH HIGHER WHEN ITS LARGE LANDBANK COMPRISING WHAREHOUSES AND LAND (ESPECIALLY THE ONE NEAR PENGERANG JOHOR ) ARE REVALUED) SEE
PANTECH WAREHOUSE IN BOOMING PENGERANG
refer to ar
10 HS(M) 135, Lot LO129 (1433), Mukim Pantai Timor, District of Pengerang, Johor Darul Takzim
Lot LO129, Kampung Bukit Gelugur, 81600 Pengerang, Johor Darul Takzim
(127,617) Freehold A parcel of industrial land 1,800 – 31.12.2015
PANTECH BOUGHT A FREEHOLD 127,617 sq ft INDUSTRIAL LAND FOR RM1. 8 MILLIONS
THAT IS ONLY RM14.10 per sq ft
(Note: Freehold industrial lands are very rare in Pengerang RAPID. Mostly leasehold. Price anywhere from rm30 psf to Rm100 psf today)
So buying into Pantech is an opportunity to invest into Real Esate in Pengerang at Old book value.
THIS IS ONLY ONE OF PANTECH 10 LISTED ASSETS. AND ALL THE ASSETS ARE INDUSTRIAL & MANY ARE WAREHOUSES. SO GOOD THAT NTA HAS APPRECIATED FROM 74 to 78 sen for a 4 sen gain in one year
SO GOOD THAT PANTECH BOSSES HAVE BOUGHT THE RIGHT INDUSTRIAL LANDS & WAREHOUSES AND AVOIDED SHOPPING MALLS NOW HIT BADLY BY ECOMMERCE

PANTECH FAST BECOMING THE OIL & GAS RELATED GROWTH STOCK

PANTECH’S VAST BUSINESS POTENTIAL DUE TO INCREASINGLY EXPANDING OIL & GAS REFINERIES IN ASIA

(1)PENGERANG RAPID COMPETED: NEXT PHASE WILL BE DOWNSTREAM PETROL CHEMICAL COS, Calvin Tan Research
Author: calvintaneng | Publish date: Fri, 22 Feb 2019, 02:49 PM
________________________________________
With the completion of RAPID The Next Phase Will Be Downstream Petroleum Chemical Companies
ALL THE 300,000 BARRELS OF CRUDE OIL GOING INSIDE THE REFINERY WILL COME OUT AS FINISHED PRODUCTS

PANTECH WILL ALSO BE DOING ROARING BUSINESS

Why is it so?
Answer:
Oil Pipes will connect the finished products to Chemical Industries nearby (INCLUDING THOSE IN SINGAPORE)
See the Success in Singapore
THERE IS
common pipeline corridors to make plant-to-plant transfers easier and more cost efficient.
PIPE LINE CORRIDORS MEAN LOTS AND LOTS OF BUSINESS FOR PANTECH
WITH 30,000 TYPES OF OIL PIPE LINES & VALVES IN PENGERANG ITSELF PANTECH GOING TO DO VERY WELL!!
A BIGGER FACTORY IN PASIR GUDANG ONLY 80 KM AWAY WILL GIVE SUPPORTING NEEDS

LOTS OF BUSINESS MEAN THE FUTURE OF DIALOG & PANTECH LOOK BRIGHT

PANTECH WILL GET PERPETUAL MAINTENANCE JOB FROM PETRONAS FOR ITS OIL PIPES MAINTENANCE

(2)Singapore’s world-class petrochemicals hub in Jurong Island
Needs lots of specialty carbon steel oil/gas pipes and valves to connect to Rapid Refinery

(3)Saudi agrees US$10 billion China refinery deal as crown prince visits
Reuters
-
February 22, 2019 5:34 PM
BEIJING: State-owned oil company Saudi Aramco signed a US$10 billion deal to build a refining and petrochemical complex in China on Friday, as Saudi Crown Prince Mohammed bin Salman wrapped up a two-day trip to Beijing.

(4) & (5) AND ALSO IN INDIA AND PAKISTAN
The Saudi delegation, including top executives from Aramco, arrived on Thursday on an Asia tour that has already seen the kingdom pledged investment of US$20 billion in Pakistan and seek to make additional investments in India’s refining industry.
(CONSOLIDATION OF VARIOUS NEWS/ANNOUNCEMENTS AND WITH FACTS DERIVED FROM CALVINS’ WRITE-UPS. IN ORDER TO FOCUS ON THE VERY BULLISH IMMEDIATE BUSINESS PROSPECTS AND THE VAST EXPANDING MARKETS FOR PANTECH’S PRODUCTS)

Both MRCB and NAIM WILL BE GOOD.

AZRB too

Tq

Thank you. Bro Calvin. A very happy CNY to you and your family.

Thanks again for your very well researched write up on NAIM. Its definitely very undervalued and has lots of prospects and upside potential

I had faithfully invested in it.

GEARING

YOUR calculation is wrong
It's hearing is now REDUCED to a much lower and VERY comfortable 0.22× DOWN FROM PREVIOUS 1.59×
Going to be in net cash after remaining loans which comprised mainly self liquidating REVOLVING CREDIT FACILITIES ARE PAID OFF

But 1Qresults already down and its upcoming 2Q is likely to be weak due to property recession in Malaysia.
Also the Taiwan project had been hit by continuing legal problems . As said its already a 12 year legal issue. Can this be resolved anytime soon?

4Q/FULL YEAR PROFITS TO BE ANNOUNCED NEXT MONTH IS EXPECTED TO BE GOOD.

BUMPER PROFITS = TO HIGHER DIVIDENDS

MBSB HAD ACHIEVED GOOD PROFITS FOR ITS PAST 3 QUARTERS REGISTERING PROFIT INCREASE BY 21%.

ITS 4 Q PROFITS IS EXPECTED TO BE GOOD ESPECIALLY WITH THE PROSPECTS OF SIGNIFICANT ADDITIONAL EXTRAORDINARY INCOME FROM WRITE BACKS FROM ITS LEGACY RM600M IMPAIRMENTS PREVIOUSLY PROVIDED FOR (TO BE DERIVED FROM ITS SALES OF SUCH HARD CORE LOANS) :-


MBSB can enjoy write-backs after disposal of RM600mil bad loans
CORPORATE NEWS
Tues


Read more at https://www.thestar.com.my/business/business-news/2018/06/26/mbsb-done-with-cleanup/#L55mztWHeh6vG0Tq.99
KUALA LUMPUR: Malaysia Building Society Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

(MBSB), which has been writing down its bad loans which it claims were legacy lending for more than two years, has finally cleared its books.

The former non-bank lender, which became a full-fledged bank after a merger with Asian Finance Bank Bhd, said that a chunk of RM600mil worth of “hardcore” bad debts would be disposed of by the end of this year.

President and chief executive officer Datuk Seri Ahmad Zaini Othman said that the disposal of the RM600mil tranche of non-performing loans (NPLs), which are legacy loans, would effectively conclude the exercise of cleaning up its books.

“These are hardcore distressed assets to the tune of about RM600mil and this will basically conclude our whole (impairment) programme. We have already provided for it and the sale of the bad debts would allow us to write back some portions,” he told a press conference after its AGM here yesterday.



MBSB third-quarter profit higher by 21%
CORPORATE NEWS
Wednesday, 14 Nov 20


Read more at https://www.thestar.com.my/business/business-news/2018/11/14/mbsb-thirdquarter-profit-higher-by-21/#EtISUC5iuLu4sbP4.99

PETALING JAYA: Malaysia Building Society Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

(MBSB) saw a 21% jump in net profit for the third quarter ended Sept 30, due to a lower charge of impairment allowances on loans and financing.

In a filing with Bursa Malaysia yesterday, the group said its impairment allowances for the third quarter decreased by RM65.4mil, driven by favourable forward-looking macroeconomic variables forecast by an external agency applied to the retail portfolio.

TH cutting exposure to stock market
Author: savemalaysia | Publish date: Wed, 12 Dec 2018, 02:13 PM

KUALA LUMPUR: Lembaga Tabung Haji (TH) is targeting to reduce its exposure to the stock market next year, which will see the pilgrim fund divesting a portion of its stakes in 103 listed companies on Bursa Malaysia.

At a half-an-hour press briefing, group managing director and chief executive officer Datuk Seri Zukri Samat said that about half of TH’s assets were in the stock market and that it was targeting to reduce this to 20%.

The mid-sized companies where it has stakes in include Malakoff Corp Bhd, Malaysian Resources Corp Bhd.

TABUNG HAJI HOLDS A SIZEABLE 7.02% OR 303M SHARES IN MRCB

SOME WORRIES

Posted by janetchiam8 > Dec 8, 2018 12:33 AM | Report Abuse X

My personal investment principles are simple and very sound based on which I had managed to avoid many pitfalls and financial losses :

Avoid those with
1) complicated business models
2) poor financials especially companies with high gearings
3) businesses relying on projects/contracts with LONG GESTATION PERIODS
during which many unforeseen and serious business/economic/financial
problems/uncertainties can arise.

Item (3) above is relevant for JAKS

My personal investment principles are simple and very sound based on which I had managed to avoid many pitfalls and financial losses :

Avoid those with
1) complicated business models
2) poor financials especially companies with high gearings
3) businesses relying on projects/contracts with LONG GESTATION PERIODS
during which many unforeseen and serious business/economic/financial
problems/uncertainties can arise.

Item (3) above is relevant for JAKS

3Q RESULTS WILL BE RELEASED THIS WEEK. LATEST BY THIS FRIDAY 30/11/18

CS STEEL BEING A PURE FLAT STEEL MAKER IS IN THE RIGHT SUB-SECTOR OF THE STEEL INDUSTRY. SELLS ITS FLAT STEEL PRODUCTS TO MANUFACTURERS OF MOTOR VEHICLES (THE EXPANDING AUTO SECTOR BEING ITS LARGEST BUYER), AND OTHER CONSUMER PRODUCTS LIKE FRIDGES, WASHING MACHINES, FANS, OVENS, KITCHEN GAS STOVES, STEEL/ALUMINIUM POTS & PANS AND MANY ELECTRICAL / ELECTRONIC PRODUCTS.

WITH MEGA STEEL OPERATIONS DORMANT, CS STEEL IS THE BIGGEST N LEADING MANUFACTURER / VENDOR OF SUCH FLAT STEEL PRODUCTS

Doing some basic fundamentals checking and drawing my very own assumptions and personal conclusions based on CSSteel's financials :-

MANY POSITIVE CATALYSTS INCLUDING :

CASH RICH COMPANY WITH ZERO DEBT/GEARING

CONSISTENT HIGH DIVIDENDS (7 SEN TO 14 SEN YEARLY) / HIGH DIVIDEND STOCK (NOW ONE OF THE HIGHEST DIVIDEND YIELD STOCK)
2017 STARTED TO PAY INTERIM DIVIDENDS (IN RESPONSE TO SUGGESTIONS BY MINORITY SHAREHOLDERS)
POSSIBLE FOR AN INTERIM DIVIDEND TO BE DECLARED WHEN IT RELEASE ITS 3Q RESULTS (FOR FY2018) NEXT WEEK

COURT APPROVAL OBTAINED FOR THE CAPITAL REPAYMENT OF RM139M BY ITS WHOLLY OWNED SUBSIDIARY(DORMANT) TO HOLDING CO. (CS STEEL)
WITH THE ABOVE CASH INFUSION RM139M, CS STEEL’S CASH HOLDING WILL BE OVERFLOWING WITH CASH (present cash holdings 194m + 139m = total cash hoard RM333M)
WE COULD LIKELY GET A CAPITAL REPAYMENT OR A SPECIAL DIVIDEND IN ADDITION TO AN INTERIM D

LARGE RETAINED EARNINGS OF RM399M

CS STEEL IS THE DOMINANT PURE FLAT STEEL MANUFACTURER AND ITS PRODUCTS ARE USED BY MANUFACTURERS OF MOTOR VEHICLES, FRIDGES, WASHING MACHINES, AND ALL CONSUMER PRODUCTS . AS OUR AUTO PRODUCTION HAD INCREASED DURING THE PAST FEW MONTHS RIDING ON BIGGER DEMAND FOR MOTOR VEHICLES (SPURRED ON BY THE 3 MONTH GST CANCELLATION) AND THE RAMPING UP PRODUCTION BY GEELY-PROTON AND WITH MORE INVESTMENTS POURING INTO OUR AUTO SECTOR, PROSPECTS ARE BRIGHT FOR FLAT STEEL PRODUCERS LIKE CS STEEL

Proton invests RM1.2b to expand Tanjung Malim planterak estment Corridor Development chairman by ZUNNUR AL SHAFIQ
By Lizam Ridzuan - October 10, 2018 @ 10:36pm
TANJUNG MALIM, Perak: National automaker Proton Holdings Bhd is investing a further RM1.2 billion here for the expansion of its existing plant to produce new car models.
Proton chairman Datuk Seri Syed Faisal Albar said the expansion is in line with the strategic partnership between Proton and Chinese multinational automotive manufacturing company Geely sealed in 2017.
He said Proton has committed to increase sales and export of cars and this factory in Tanjung Malim will also be the global production hub for Geely's right-hand drive models

(JUST SHARING)

Government to takeover EDL for RM1.3b
Posted on 2 November 2018 - 04:17pm
Last updated on 2 November 2018 - 05:02pm
sunbiz@thesundaily.com

Print
PETALING JAYA: Government to take over Eastern Dispersal Link (EDL) from Malaysian Resources Corp Bhd for RM1.3 billion.

The amount is about 16% lower than its RM1.55 billion valuation.

To recap, toll collections at the EDL have been abolished since Jan 1, 2018 pending disposal of the highway by MRCB Southern Link, a unit of MRCB. The expressway has an outstanding debt of RM1.02 billion.


DISAPPOINTED DUE T0 SOME WORRIES :-

Compensation Shortfall of 16% or RM250M is a big amount

Shortfall made worst by the loss of toll collections which stopped since Jan 1st.

There will be other readers and investors who will find my findings and comments to be educational and beneficial.

We therefore need to be engaged in more intelligent discourses

Another more recent example.

MBSB cum Dividend price was hovering between 1.15 to 1.18. There was even a DRP where u can convert your dividends to new shares issued at 1.02.
Now MBSB doing 1.00 to 1.01

All forum commentators are entitled to their own opinions and views or strategies.
My observations are nevertheless supported by empirical evidences and facts as stated in the examples given

No cals to buy or sell here.

Just making my observations on the concepts of "value traps" and "dividend traps" and that we should be more aware of

But how to survive if still stubbornly hold MRCB at 1.30 ? (now 0.75 /low of 0.595 )

Or if still hold MALTON at 1.26 ? (now 0.515 )

Buy and hold strategy for long term may not be suitable for a bourse like Bursa.

Can die bankrupt kau kau

Examples include :

Mahsing:

SIMILARLY, MAHSING IS A GOOD SHARE. JUST GAVE OUT 6.5 SEN DIVIDEND BUT ITS SHARE PRICE WENT DOWN A LOT AFTER EX D
(PERSONAL EXPERIENCE. BGT AT 1.06. SOLD CUM D AT 1.27. NOW EX D SHARE PRICE WENT DOWN TO 1.02).
THIS IS THE KIND OF SHARE PRICING BEHAVIOUR WHICH SCARES ME )

Annjoo:

SAME PATTERN SEEN IN ANNJOO.
GOOD SHARE. BUT ITS SHARE PRICE SUFFERED BIG DECLINE AFTER IT WENT EX DIVIDEND.

NOTE ONE LADY INVESTOR COMPLAINED. TOOK 6 SEN DIVIDEND BUT SUFFERED 25 SEN SHARE PRICE LOSS AFTER EX D

L&G :
Cum d 1.5 sen
Cum price were 0.195 and 0.20 on the eve of ex D date (4/10)
Today 0.17/0175

We all know of the economic/share investment strategy called "Value Trap " where the undervalued assets of listed companies (compared to their prevailing market prices which were therefore perceived to be underpriced) attract the "buy and hold" investors. But where in many cases became "trapped" because the undervalued assets and hence their share market prices remained undervalued for the longest time. Such investors may or may not suffered paper financial losses but with their investible capital being tied down they will have incurred "opportunity costs" being "lost opportunities in buying other shares whose prices had increased and where they would had made capital gains"

We now (in Bursa) are seeing an emerging market pattern which can be called " Dividend Trap" where many listed shares gave dividends (thus attracting investors to buy their shares on "Cum Dividend basis) but were "trapped" and suffered financial losses when such shares prices actually went down by more than the dividend amounts received.

Will back this "Dividend Trap" concept with many examples which actually happened recently.

Good to be aware and beware

SAME PATTERN SEEN IN ANNJOO.
GOOD SHARE. BUT ITS SHARE PRICE SUFFERED BIG DECLINE AFTER IT WENT EX DIVIDEND.

NOTE ONE LADY INVESTOR COMPLAINED. TOOK 6 SEN DIVIDEND BUT SUFFERED 25 SEN SHARE PRICE LOSS AFTER EX D

ANOTHER OBSERVATION

DUTALAND'S BIG CAPITAL GAIN IN LATEST RESULTS.
GIVING 5 SEN DIVIDEND (DOUBLED MALTON'S 2.5 SEN.NOT YET DECLARED)
SHARE PRICE ALSO 0.525. BUT DUTALAND'S SHARE PRICE NOT MAKING ANY HEAD WAY.

SIMILARLY, MAHSING IS A GOOD SHARE. JUST GAVE OUT 6.5 SEN DIVIDEND BUT ITS SHARE PRICE WENT DOWN A LOT AFTER EX D
(PERSONAL EXPERIENCE. BGT AT 1.06. SOLD CUM D AT 1.27. NOW EX D SHARE PRICE WENT DOWN TO 1.02).
THIS IS THE KIND OF SHARE PRICING BEHAVIOUR WHICH SCARES ME )

Uptrending. Your interpretation is correct.

But my observations of the price trends of most counters some months before and after the GE14 (and despite the good outcomes of PH taking over the new Malaysia Govt), many shares had lost a lot of ground. i.e. Many investors had lost back much of their few years' stock gains. In fact many of my friends had suffered net losses.
The current situation is such that even companies achieved creditable results (eg DUTALAND) their shares were still unable to make any head way.

So,the risk/reward ratio is currently = big risks/small gains.

I will monitor our Bursa shares price trends up to our 2019 Nat Budget on 2/11/18 and see how things go.

If no positive changes it will be better and safer not to re-enter the market. Take a well earned holiday (fortunately still with net gains) and wait ..........

Thanks for reading my yak yak

Increasingly difficult investing conditions:

I dont know about others but I am encountering the above situation:

lets analyse the possible reasons for Malton's share price to be lacking in pricing power:

1) significant global economic news flows including USA pitting trade wars agst China and other countries, thus dampening world economic prospects(WHICH COULD AGGRAVATE AND HASTEN THE NEXT WORLD STOCK MARKET CRASH AS WE ARE NOW IN THE 10TH YEAR ANNIVASARY OF THE LAST CRASH IN 2008)

2) New Malaysia's economic prospects facing its newly discovered RM Trillion National Debts. Our Finance Minister already said the coming National Budget is going to be difficult (and he will become the most unpopular Fin. Min in Malaysia hinting at "no goodies and likely new and higher taxes" )

3)Malton's latest Quarterly Results were also much weakened/poor

4)the continuing and likely deteriorating Property markets (per latest BNM reports of increasing over supplies/unsold and Construction sector which affects Malton directly).

MALTON IS NOT THE ONLY COUNTER ENCOUNTERING THE ABOVE NEGATIVE HEADWINDS. OTHERS IN THE SAME BOAT INCLUDE ECOWORLD, EWINT. MAHSING, WCT, L&G, AND THOSE WHOSE BUSINESSES ARE RELATED TO THE PROPERTY AND CONSTRUCTION SECTORS (LIKE STEEL AND CEMENT MANUFACTURERS)

BASED ON THE ABOVE , THE PERTINENT Q IS WHETHER THE CURRENT RISK/REWARD RATIO IS SUCH ITS NOT WORTH INVESTING ANY MORE.

Maybe this is also the fear of having one that had been causing the increasing selling pressure.

Sudden sharp selling pressure.
Some market talk of close relationship with ex Leader and spouse.
Some news on the 93 pieces of FT lands under investigation (initially polis reported by Kepong MP)
Maybe just speculation

Overseas buyers account for roughly half of all residential transactions in central London, according to Faisal Durrani, head of research at property consultants Cluttons LLP.

UK developers are already grappling with sluggish demand amid the nation’s messy divorce from Europe, a cooling property market and prospects of higher interest rates.

The capital’s stock of unsold homes under construction is at a record, and shares of home builders such as Crest Nicholson Holdings Plc and Berkeley Group Holdings Plc have slumped this year.

(south china morning post SCMP)

‘We are very concerned about the impact that foreign buyers have on the housing market’

PUBLISHED : Monday, 01 October, 2018, 10:40am
UPDATED : Monday, 01 October, 2018, 10:40am
COMMENTS:

RISKS OF A DOUBLE WHAMMY

Britain’s PM Theresa May wants to hit foreign homebuyers with a higher tax

Britain’s high-end and luxury home builders face a squeeze as Prime Minister Theresa May prepares to impose higher taxes on foreigners looking to buy properties in the UK.

Plus a possible interest hike (following USA FED 3rd rate hike )

Many share prices went up after their ex-dividends dates, Examples :-

MRCB
TA
D&O
TOPGLOVE

enid888 Value investor, Tong Kooi Ong starts to turn positive towards the property sector. The price of property counters has dropped to a stage that they are too cheap now. It is good news for Mah Sing and Ecoworld in particular and all the property counters as a whole.

https://www.theedgemarkets.com/aa/tong/portfolio
01/07/2018 20:42

{Tong Kooi Ong gave a very good analysis on Mahsing when he bought/added Mashing into his Portfolio. Hope some value investors kindly reproduce Mr Tong's article here. Tq }

ITS REITS IPO WILL BRING IN HUGE CASH INFLOWS FOR THE TA GROUP IN ADDITION TO
REALISING BIG CAPITAL GAINS, THESE WILL TRANSLATE INTO HIGHER CASH DIVIDENDS ( INCLUDING SPECIAL DIVIDENDS)

REITS WILL ALSO BE VERY GOOD

MANY POSITIVE FACTORS/GOOD NEWS FOR COMING 2Q RESULTS/PROFITS INCLUDING :-

SIGNIFICANTLY HIGHER BROKERAGE INCOMES/PROFITS FROM MUCH LARGER DAILY TRADING VOLUMES IN BURSA SUPPORTED BY INTRA DAY SHORT SELLING TRADING WHICH WILL BENEFIT TA BASED ON ITS LARGE SHARE OF RETAIL CLIENTS.

PLUS TA'S OWN SALE OF 2 HONG KONG PROPERTIES CONFIRMED COMPLETED EARLIER THIS MONTH AND WHICH HAD REGISTERED A CAPITAL GAIN OF RM59M WHICH WILL PUSH UP ITS 2Q PROFITS FURTHER.

ANOTHER POSITIVE CATALYST CAN BE A POSSIBLE DISTRIBUTION OF FREE TAG SHARES AS A DIVIDEND IN SPECIE TO TA SHAREHOLDERS (WHICH WILL RESOLVE TAG'S INADEQUATE FREE FLOAT)

TA'S FUNDAMENTALS ARE STRONG AND WILL CONTINUE TO STRENGTHEN FURTHER ESPECIALLY ITS SUBSIDIARY, TAG, IS DONG WELL WITH MANY UNDERVALUED OVERSEAS LANDED ASSETS RIPE FOR SALES WITH POTENTIAL HUGE CAPITAL GAINS.

HENCE TA'S CURRENT SHARE PRICE IS VERY MUCH UNDERVALUED. EXPECT ITS SHARE PRICE TO APPRECIATE WITH THE UNLOCKING OF ITS ASSETS AND INCREASING PROFIT PERFORMANCES EVERY SUBSEQUENT QUARTER. WILL TRANSLATE TA INTO A HIGH DIVIDEND YIELD STOCK

REALITY CHECK : THE HARD FACTS :-
Toll Will Not Be Abolished Until Malaysia’s Financial Situation Improves
MMO) – Pakatan Harapan’s (PH) promise to abolish road tolls will only be looked at once Malaysia’s financial situation improves, said Finance Minister Lim Guan Eng.

Hence EDL’s RM1.2B Sukuk loan will likely have to remain with MRCB. Means its borrowings/
Gearing have to remain high at >RM4B. Also in line with DAP’s policy which criticized it to be a bailout if the Govt also absorbs the Sukuk loan. (however it will receive fair compensation to cover its lost toll revenue + Sukuk interest cost)

RE : Jeffreyteck NA per share dropped so much. Profit almost equal to revenue?

NOTICED YOUR OBSERVATION ON ITS FULL YEAR PROFITS REPORT
HENCE WENT TO CHECK ON ITS P&L AC AS REPORTED YESTERDAY AND FOUND THAT ITS PROFITS HAD BEEN INFLATED BY 2 EXCEPTIONAL ITEMS TOTALLING RM78.2M.
(RE :- “ A9. Profit Before Taxation The following amounts have been included in arriving at profit before taxation:
Gain on disposal of fixed assets 34,811
Write back of provision for cost to complete 43,390 “ )

DOES IT MEAN THAT WITHOUT THESE 2 EXCEPTIONAL INCOMES L&G WOULD HAD ACTUALLY INCURRED A TRADING LOSS FOR THE YEAR? (DUE TO WEAK PROPERTY MARKET)

ALL INCORRECT.
HOW CAN BUY OVER TOLL CONCESSIONS WITHOUT ANY COMPENSATION?

THESE ARE ALL BUILT WITH LEGAL AGREEMENTS AND THE PAKATAN GOVERNMENT HAD ALREADY CONFIRMED ITS THEIR POLICY TO FOLLOW THE RULE OF LAW

Positive Indicators for MRCB :-
MRCB 1Q RESULTS TO INCLUDE
1) DISPOSAL GAINS RM58M IN SETAPAK LAND SALE TO JV PROJECT WITH TABUNG HAJI
(BURSA ANNOUNCEMENT DATED 26/12/2017)
2) DISPOSAL GAIN RM30M FROM SALE OF JLN KIA PENG LAND TO PERKESO
(BURSA ANNOUNCEMENT DD 21/3/2018)
3) CONTINUING REVENUE AND PROFITS FROM ITS 50:50 JV WITH GKENT FOR LRT3
(RM9B CONTRACT TO BE COMPLETED BY SEPT 2020. CONTRACT NOW COMPLETED MID WAY)

EDL.
TOLL REVENUE COMPENSATION ONLY BEING DELAYED FOR 1Q RESULTS BUT IS GUARANTEED TO BE RECEIVED IN SUBSEQUENT QUARTERS AND WILL ACCORDINGLY BOOST UP ITS REVENUES AND PROFITS FOR FYE 31/12/2018
HENCE MRCB’S REVENUES AND PROFITS WILL BE SATISFACTORY TO GOOD IN ITS COMING QUARTERS AND YEARS BASED ON ITS HUGE RM50B GDVs IN HAND (ESPECIALLY IN ITS TRANSIT ORIENTED DEVTS (TODs) JV WITH EPF IN KWASA SENTRAL AND BUKIT JALIL
ADDITIONAL PROPERTY DISPOSALS (WHICH WILL REDUCE ITS DEBT/GEARING RATIOS PLUS BRING IN MORE HUGE CAPITAL GAINS IN THE 2H OF THIS YEAR INCLUDE MENARA CELCOM FOR RM688M AND ASCOTT FOR RM180M CASH (WHICH WILL TURN MRCB INTO A NET CASH ENTITY WHICH WILL TRANSLATE INTO HIGHER CASH DIVIDENDS )

MRCB HAVE STRONG FUNDAMENTALS AND A GOOD BUSINESS MODEL .
WILL CONTINUE TO DO WELL

Nonsense.
MRCB IS NEVER INVOLVED IN ANY CONTRACT IN ECRL.
NOT CONNECTED WITH ECRL AT ALL

Positive Indicators for MRCB :-
MRCB 1Q RESULTS TO INCLUDE
1) DISPOSAL GAINS RM58M IN SETAPAK LAND SALE TO JV PROJECT WITH TABUNG HAJI
(BURSA ANNOUNCEMENT DATED 26/12/2017)
2) DISPOSAL GAIN RM30M FROM SALE OF JLN KIA PENG LAND TO PERKESO
(BURSA ANNOUNCEMENT DD 21/3/2018)
3) CONTINUING REVENUE AND PROFITS FROM ITS 50:50 JV WITH GKENT FOR LRT3
(RM9B CONTRACT TO BE COMPLETED BY SEPT 2020. CONTRACT NOW COMPLETED MID WAY)

EDL.
TOLL REVENUE ONLY BEING DELAYED FOR 1Q RESULTS BUT IS GUARANTEED TO BE RECEIVED IN SUBSEQUENT QUARTERS AND WILL ACCORDINGLY BOOST UP ITS REVENUES AND PROFITS FOR FYE 31/12/2018
HENCE MRCB’S REVENUES AND PROFITS WILL BE SATISFACTORY TO GOOD IN ITS COMING QUARTERS AND YEARS BASED ON ITS HUGE RM50B GDVs IN HAND (ESPECIALLY IN ITS TRANSIT ORIENTED DEVTS (TODs) JV WITH EPF IN KWASA SENTRAL AND BUKIT JALIL
ADDITIONAL PROPERTY DISPOSALS (WHICH WILL REDUCE ITS DEBT/GEARING RATIOS PLUS BRING IN MORE HUGE CAPITAL GAINS IN THE 2H OF THIS YEAR INCLUDE MENARA CELCOM FOR RM688M AND ASCOTT FOR RM180M CASH (WHICH WILL TURN MRCB INTO A NET CASH ENTITY WHICH WILL TRANSLATE INTO HIGHER CASH DIVIDENDS )

MRCB HAVE STRONG FUNDAMENTALS AND A GOOD BUSINESS MODEL .
WILL CONTINUE TO DO WELL

janetchiam8 Very good and positive observations on MRCB coming tomoro morning

Very good and positive observations on MRCB coming tomoro morning

Also agreed with you that there will be no dividend for 2018 FY.

This was confirmed from its annual report that they can only start considering a dividend from FY2019

Comparitive likely 1Q this year against 1Q last year :

Last year 1Q got benefit of one off extraordinary gain of about RM104m when it booked this gain arising from its sale of 40% of its subsidary to EPF (this subsidiary acquired the 2000 acres Ijok land and when it sold a stake to EPF it was able to revalue its Ijok land which yielded a revaluation surplus )
But I cannot find any disposal gain for the Ecowld group during this year's Quarter. Hence it is very likely this current year's Q profit could be much lower.