fyi, if u were research deeper onto the Lctitan mgmt as what it prospectus stated, it will give 50% dividend payout annually. Assume next Q1'18 and subsequent Q2, Q3 & Q4 sustainable earning profit reach RM400mil ~ RM500mil (which probably can due to additional 30% output vol + >90% output efficiency), it forward quarterly EPS can hit to 20sen+.

These mean it share price can hit RM8.00 (for PE 10) + dividend payout of 40sen (50% payout) per annum. That dividend alone pay u 7.0% per annum (based on current share price RM5.65). That way better than any FD saving alone , not including it share price appreciation in coming months for whole 2018.

You see how big is this Lctitan potential is assume it go back to it's original normalized PE value. If market give PE 15, same as PETRONAS Chemical (PCHEM), then it share price value can hit RM12.

That's why a lot of people look positive on this counter for 2018.

I believe it is OK to share public more info based on fact instead of emotional. If a person do more research, u will know the expansion plant of TE3 (commence on 16th Dec 2017) will improve additional 30% output for this Qtr, impact on it revenue & earning will be significant assume all factor remain the same.

Here are the info I share based on fact:

TE3 will increase production capacities of ethylene and propylene are expected to increase by 93,000 tonnes and 170,000 tonnes per annum.

TE3 Project (USD317.5m):
-------------------------------------

TE3 Project is a project in Pasir Gudang involving the construction of facilities to increase the output of ethylene, propylene and by-products. The new K-COT catalytic cracking reactor will be attached to LCTITAN’s existing NC2 plant. The technology will convert heavy feedstock blends into higher olefin product and can maximize the ethylene and propylene production by using existing recycled products.

LCTITAN commenced the TE3 Project in year 2015 and the now known as fluidized naphtha cracker had commenced commercial operations in Dec 2017. In coming years, the Group will be able to deliver a greater volume of ethylene to its Indonesian plants upon completion, to solve the issue of tight ethylene feedstock supply.

Financial capital:
-----------------------

As at Dec 2017, LCTITAN has an incredibily strong balance sheet, with MYR3.63b in cash and virtually no borrowings. It was translated into MYR1.60 cash per share. According to prospectus, the Group aims to declare dividends of an amount equal to about 50% of its net profits every financial year. The latest 23 cent dividend per share for FY17 was equivalent to dividend payout ratio of 49%. On the other hand, the net cash generated from LCTITAN’s operating activities over the past two years were MYR1.97b and MYR1.74b respectively.

Overall, its financial strength and cash flow are very healthy. Moving forwards, the proceeds of MYR3.78b from the re-entry to Bursa Securities will be used to drive an expansion plan in the ASEAN region to further improve operation and capacity. It would involve the development of a USD3.5b integrated petrochemical facility in Indonesia to increase the Group’s ethylene production by up to 1,000,000 tonnes capacity, and construction of a new PP plant in Johor to increase production by 200,000 tonnes.

Earning Projection (assume same as Q4'17 net profit earning RM378mil, EPS 16.64sen):
--------------
Compare to same petrochemical industry (compare with Petronas Chemical - PCHEM) around PE 15 ~17, current Lctitan forward PE is just 8.5, that also not including additional 30% output TE3 plant expansion. Previously Lctitan plant shutdown due to one-time deal incident below, which I believe it will get back to its normal operation efficiency of >90% in 2018.

-- You all can count the maths here.----

Incidents of unexpected arise (one time deal):
------------------------------------------------------------

The lower than expected result was also due to the incidents below:

1) In Apr 2017, LCTITAN undertook the turnaround on its naphtha crackers from Feb to Mar 2017 for its NC2 plant. Most of its other plants in Malaysia were shut down for a period ranging from 13 days to 56 days, due to disruption in supply of feedstock.

2) A water disruption occurred immediately after the planned turnaround of its NC2 plant that prolonged the plant normalization period. The incident caused its plants to further shut down for a total of 13 days in Apr 2017 and caused a decline in production volume of 75,000 tonnes.

3) In Jul 2017, LCTITAN undertook statutory routine turnaround (every 5-6 years) for its NC1 plant. Its plant utilization in was lower at 73% as compared to average 91% last year.

Moving forwards, LCTITAN’s production output is expected to normalize in year 2018. Following the maintenance works on both plants in year 2017, the Group is not likely to make another shutdown on those plants over the next five to six years.

JP Morgan raise Lctitan to overweight, raise TP to 7.00. Analyst recommendation 7 buy 1 hold ,0 hold. Good for spike up for Lctitan. Across all fund manager/analysts, set average TP range btw 6.50 to 8.50. Good for future growth for Lctitan in coming months ahead.

http://www.theedgemarkets.com/article/lotte-chemical-titan-raised-overweight-jpmorgan

Lotte chemical in Korea share price increase 15% since last 1 week after Qtr result out. Today up 4.5%, impressive. Be a smart investor, it way undervalued and on recovery path for 2018. It will be a STAR counter if smart enough to accumulate when it low. Be like Warren Buffet, aim for big picture!

Addison, definitely I will sell out but not now.. I have high confidence it can reach beyond RM7.50+, then I will start to unload and sell out my holding. If coming Q1'18 EPS result impressive, exceed 20sen+, I will buy some more in coming end April 2018. I buy/sell based on fact/figure... not based on emotional investing.

FYI, I already earned multi-baggar return gain in stock holding, I'm not that type of guy target for small pocket money timing in / out. Look for big picture, not invest based on emotion.

Addison, why u sound so negative on LCTITAN. It seem to me, your comment is baseless, without any financial support nor fundamental business growth justification talk. It earning & growth story is recovering and improve back to normalized utilization 86% + plant TE3 & PP3 output improve.

What is your main intention or ultimate goal to stir fear among small investor? Create fear so that you can collect more at lower price? To be genuine investor, we all should report what future forecast ahead, if there any miss out it good to share with team. Instead of create baseless fear without any justification or judgement, this is not ethnically correct.

Don't be silly, for those who ask people to sell is kinda stupid. Try to study & research its company growth & valuation before give silly comment. Look beyond on this counter for next 2-3 Qtrs, this LCTITAN will be a STAR counter with huge potential share price growth for 2018.

Assume, Q4'17 EPS 16.6sen back to normalized, multiply by 4x it worth RM6.64 (PE 10). If market give valuation to PE 15 (same as PCHEM), that is RM9.96, huge potential for share price to growth big!!!

Lctitan company has an impressive RM3.6bil in cash and zero debt. Moving forward 2018, NO MORE scheduled shutdowns of its plants will bring it utilisation rates >90% and output will recovered. Some more its new TE3 plant already started commercial operation in 16th Dec 2017, that bring 30% extra output. PP3 expected commercial operation of the project is in second half of 2018.

This is an undervalued stock, zero debts, good efficiency company with high dividend 50% payout company. Lctitan come from Lotte corporate, 2nd to 3rd largest conglomerate corporate in Korea with reputable transparency mgmt. deliverables. Ask any Korean people, they will tell u how strong is Lotte corporate finance, deliverable & efficient it is.

Better rethink your strategy! To win big in Equities, dont simply follow daily and silly comment. Do your own research.

Do not underestimate Lctitan coming Q118 result.
Lctitan mgmt continue to improve its overall utilisation rate from 77% (3Q17) to 86% (4Q17) to expected normalize 92% (1Q18). This will further boost it earning from current net profit RM0.378bil (4Q17) to ~RM0.5bil+ (1Q18). With payout dividend of 23sen, mean Lctitan mgmt does honour their promises of 50% dividend payout vs profit earning.

Coming new TE3 plant already started operation on 16th Dec 2017, will boost another 30% output on 1Q18. Additional to that, coming PP3 plant by 2nd half 2018 will further enhance it growth. This is an undervalued stock, good efficiency company & with keep on growing momentum in 2018. Plus, high dividend 50% payout company & zero debt companies with RM3.6Bil cash & assets.

This Lctitan can shoot up beyond RM8.00 (new TP), if calculate based on EV/EBITDA share price 5.50 still cheaper by only 5.5x FY18F, 28% discount to PChem target 7.6x.

AA is benefit the most with stronger RM vs USD, BNM raise OPR interest rate to 25 basis point is to further strengthen RM currency. The bulk of an airline’s operating costs are USD denominated such as fuel, aircraft ownership and maintenance. USD cost makes up 65-70% of operating cost for the AA. With the expected strengthen RM in coming weeks/mths by various analyst prediction, it will be much beneficial to AA. RM vs USD has strengthen from 4.10 (last Dec) to 3.88 now.

Also don't forget, last Q3'17 core EPS is 15cents, expected coming Q4'17 will be 20cent+. Even through current AA share price is 4.20 range, but it still way undervalued. Assume EPS 20cents by Q4'17, that mean what Mr. Tony's expect of RM6.00 is achievable-able by this half year since it still below PE 7.5 only. Upcoming special dividend from AACE & GTR (both already sold) will provide additional 23cent/share + AAC sell of RM1.00 ~ RM1.20 special dividend by this end Mar.

AA is transforming into dividend-payout company, selling out all non-core biz to capitalize earning/profit form it as well. Also upcoming 2018 upcoming IPO list of Indonesia, Thailand, Philippine & India, will further strengthen it core financial business.

This is super undervalued company, some more is expanding with strong customer demand from China & South east Asia travel. Not to forget, Q4'17 & Q1'18 are the strongest Qtr earning profit for AA, so you all can roughly calculate potential AA fly from here.

RM6.00 can be achievable by what Mr. Tony's prediction by mid 2018 !!!

To value a company growth potential, investor MUST always understand the business structural change, transformation, its earning core valuation as well as moving macro economy trend. As we all knew, Airasia already selloff it non core biz (AACE (done in 28 Dec 2017) and GTR (done in 4 Jan 2018) with special dividend payout 23sen/share. Plus coming end March AAC sellout, big special payout of RM1.00 ~ RM1.20.

On it core biz, last Q3'17 reported core EPS earning is 15sen. Coming Q4'17 result as expected will be better than Q3'17 due to more holiday travel. Assume Airasia core PE 8, then it worth at least RM5.00, assume zero grow in Q4'17 & Q1'18 EPS, which hardly for Airasia for these 2 Qtrs. As expected, that a huge potential biz growth term of net worth + debt to equities ratio reducing trend.

Apart from it, Airasia is on +ve side due to sustaining good margin yield due to better ancillary + digital improve return. Airasia total operating costs +/- 70% are driven by USD-denominated impact. Even through oil price increase/ sustain with $60 - $70 region, the $cost gain on ancillary sales & cost reduction able to offset / balance off the oil price increase. From macroeconomic standpoint, across all oil analysts expected oil price will hover btw $63 to $70 across whole 2018 as OPEC & Russia will revise oil production cut supply with more US Shale oil opening up oil rig in coming weeks. eventually, this will lower down oil price to $60 ~$65 region.

AirAsia Tony has big plans on it biz growths. Going to be Alipay version soon, digital Payless . Growth is big, good I spot earlier before it announced this big plan. With RM strengthen, next 6 mths will be fantastic result n sentiment coming forward. Patience win the race.

Even it member only have 63mil member, but it good to have a small version Alipay Alibaba in south east Asia. Good for the initiative driven mindset

Can do currency exchange rate, remittance and fintech money lending Ah long banker. Good prospects ;)

Can download it apps and play with it in apple store or playstore. BigPay apps

http://www.theedgemarkets.com/article/bigpay-will-be-worth-more-airasia-says-fernandes

Good news for 2018 Aviation sector, expected to soar due to improve consumer sentiment.
Airasia expected to be on +ve side due to sustaining good margin yield + RM strengthen as ±70% of operating costs are USD-denominated impact. Expected Q4'17 Qtr result will be impressive, exceed EPS 20cents.

https://www.thestar.com.my/business/business-news/2018/01/11/aviation-sector-to-soar-on-improved-consumer-sentiment/

Good to reconsider it, after study the potential of AA biz in this 2018 growth.

Airasia is transformimg to divident payout company as we all know. As refer to 2017 reported earning, there will be a forecast of 25% payout ratio, equates to a DPS of 9sen in 2018.
Plus for special dividend upon selling out those non-core biz, there is potential of another 23sen/share post the sale of AACE (done in 28 Dec 2017) and GTR (done in 4 Jan 2018).

Combine this with the regular DPS, AirAsia offers a prospective FY18 dividend yield of 9%. For a 9% dividend payout in 2018, that way better than any EPF, FD or even Unit Trust return per annum return gain.

On top of these special payout dividend 23sen/share, this does NOT include the potentail selloff of AAC lease airline of $1.0bil, convert to 1.00 ~ 1.20 payout, this is huge expected gain for AA in coming 2018 by end of March.

These all payout dividend, not yet include Philipines, Thailand and coming India list IPO for this 2018 year.. another big potential to consider as well.

Airasia is super undervalued now, last Q3'18 core EPS 15cents. Current Forward PE only 5 only. With coming Airasia transform to become an dividend payout company, give 2 times in 2017 (total 24cents). Upcoming end Mar 17 AAC going to sell off, gain $USD 1bil give out dividend RM1.00 ~ RM1.20. Going to list out all Indonesia, Thailand & Philipine IPO further improve it Airasia group earning, reducing debts to lower 1.2x time. Expected coming Q4'17 EPS within 20cents, with all travel occupancy hit >87%+ high + coming ancillary digital transformation earning profit with cost cutting in place. Additional 78% oil price hedge at $USD 63 range + RM currency getting stronger to 4.02.

This is a huge potential stock to hit RM5.00 and beyond, assume PE 8, it still very cheap overall.

Topglove still have potential to hit 9.00 by year end based on forward PE 26 earning, it still cheap vs Hartalega fwd PE 40.

Hi All, for those miss out the glove counter share price rally, look beyond Bursa exchange. Study on this Riverstone glove maker (SGP exchange), small/med cap, but highly efficient or equal to Hartalega. This remind me on last 7yrs when Hartalega is a small glove company, unspotted and below investor radar below RM500mil company, but now super powerful, now worth RM 18bil company.

Thanks Hartalega, Kossan & Topglove for making me multi-millonaire :)

Riverstone 3Q17 net profit RM34.3mil (+26.8% QoQ ), zero debts company, net cash position RM112.4mil, ROE 20.7% growth annually (avg 5yr), divident payout ratio 40% - 45% annually, Gross profit margin 27%, net profit margin 18.7%.

In term of plant expansion, glove output increase additional +1.4bil pcs, start commission & fully operate by Q4'17 (Phase 4). This raise additional capacity of 22.5% + full operate on Q4'17, boost net profit earning to RM40 - RM42mil. Expected Q4'17 EPS is raise to 5.3sen ~ 5.6sen. push up TP conservatively to $1.25 based on forward PE 17 (deep discount vs Hartalega forward PE 40).

Hi All, for those miss out the glove counter share price rally, look beyond Bursa exchange. Study on this Riverstone glove maker (SGP exchange), small/med cap, but highly efficient or equal to Hartalega. This remind me on last 7yrs when Hartalega is a small glove company, unspotted and below investor radar below RM500mil company, but now super powerful, now worth RM 18bil company.

Thanks Hartalega, Kossan & Topglove for making me multi-millonaire :)

Riverstone 3Q17 net profit RM34.3mil (+26.8% QoQ ), zero debts company, net cash position RM112.4mil, ROE 20.7% growth annually (avg 5yr), divident payout ratio 40% - 45% annually, Gross profit margin 27%, net profit margin 18.7%.

In term of plant expansion, glove output increase additional +1.4bil pcs, start commission & fully operate by Q4'17 (Phase 4). This raise additional capacity of 22.5% + full operate on Q4'17, boost net profit earning to RM40 - RM42mil. Expected Q4'17 EPS is raise to 5.3sen ~ 5.6sen. push up TP conservatively to $1.25 based on forward PE 17 (deep discount vs Hartalega forward PE 40).

Hi All, for those miss out the glove counter share price rally, look beyond Bursa exchange. Study on this Riverstone glove maker (SGP exchange), small/med cap, but highly efficient or equal to Hartalega. This remind me on last 7yrs when Hartalega is a small glove company, unspotted and below investor radar below RM500mil company, but now super powerful, now worth RM 18bil company.

Thanks Hartalega, Kossan & Topglove for making me multi-millonaire :)

Riverstone 3Q17 net profit RM34.3mil (+26.8% QoQ ), zero debts company, net cash position RM112.4mil, ROE 20.7% growth annually (avg 5yr), divident payout ratio 40% - 45% annually, Gross profit margin 27%, net profit margin 18.7%.

In term of plant expansion, glove output increase additional +1.4bil pcs, start commission & fully operate by Q4'17 (Phase 4). This raise additional capacity of 22.5% + full operate on Q4'17, boost net profit earning to RM40 - RM42mil. Expected Q4'17 EPS is raise to 5.3sen ~ 5.6sen. push up TP conservatively to $1.25 based on forward PE 17 (deep discount vs Hartalega forward PE 40).

Kossan start to rebound from low, buyer start coming back.

Even Supermax Q317 result QoQ show impressive net profit earning spike 235% jump on preceding Qtr, jump from RM 8.3mil (EPS 1.25cent) to RM 28mil (EPS 4.19cents), due to raw material price drop & refurbish plant efficiency improved. That impressive as moving month to month till now, raw material price keep on falling, further improve overall glove maker profit in coming months.

Even Supermax Q317 result QoQ show impressive net profit earning spike 235% jump on preceding Qtr, jump from RM 8.3mil (EPS 1.25cent) to RM 28mil (EPS 4.19cents), due to raw material price drop & refurbish plant efficiency improved. That impressive as moving month to month till now, raw material price keep on falling, further improve overall glove maker profit in coming months.

Impressive growth for Supermax on this Qtr result n next Qtr result after long subside share price not moving.

fyi, On 10 November, spot BD prices were assessed at $975/tonne CFR NE Asia, down another by 26% from 6 October, ICIS data reported. These further raw BD price drop make rubber maker, benefit even more vs last Feb when it hit highest of $3019/tonne.

That's mean all glove maker for nitrile glove benefit the most in subsequent months down the road.

Warren Buffet's advise:
Seize Great Opportunities and Load Up the Truck
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

“The stock market is designed to transfer money from the impatient to the patient investor.”

Opportunity to collect Kossan when price low, both Topglove & Hartalega is coming up. Don't be fearful when share price drop, it an opportunity to accumulate if re-look on it business growth of 30%+. PE is undervalued vs Hartalega a lot and Kossan just starting its engine now.

Be fearful when others are greedy, and greedy when others are fearful

That why, I strongly hope that Kossan mgmt/CEO really consider my proposal, declare bonus share for more liquidity in the market, on par with Topglove or Hartalega, then it share price can go even further since Kossan mgmt is proven efficient throughout many years.

Previous:
Kossan should announce & give more bonus share. Compare to Topglove & Hartalega, Kossan total share is the market is still small (Kossan 0.68mil vs Topglove 1.26mil vs Harta 1.65mil). Kossan CEO/mgmt should give out 1 bonus share for every 2 share held & 1 free convertible warrant for every 4 shares held by shareholders. The implementation of this proposal will definitely push up the share price due to more share liquidity in market.

Major shareholders:
Kossan Holdings Malaysia Sdn. Bhd. ----- 51.1%
Employees Provident Fund --------- 8.9%
Public Mutual Bhd. --------- 5.4%

CK Wong, what u read is an old news report. Latest up-to-date, KWAP hold 2.8% only (4th shareholder rank), after they sell it. Before that, EPF hold ard 11.0% share holder, then keep on selling for last 1mth. All EPF share sold, it being absorb n buy over by Public mutual fund mgr, that why Kossan price slowly go up after fund mgr finish accumulate it. Now we only see the price start moving.

Refer to Kossan listed shareholder, now the 3rd biggest Kossan shareholder is Public mutual fund mgr, suddenly jump upside, overtaking KWAP become 3rd largest shareholder & buy over those EPF share sold.

This target price of 9.10 is purely based on PE 24x only, compare to Hartalega it's PE is 35 right now. No doubt Hartalega is highly efficient compare to Kossan & top world leader for nitrile glove. In term of capacity glove growth % rate, Kossan expansion is same as Hartalega, up 30%+ by year end 2018 after plant 16, 17 & 18 fully commercialize. That will boost up Kossan PE market value to readjust to PE 30x, then it can hit beyond TP RM10 by year end if coming Q317 result is within 9cents range. Potential is there!

November 16, 2017

Malaysia Industrials
THIS REPORT HAS BEEN PREPARED BY MAYBANK INVESTMENT BANK BERHAD
SEE PAGE 6 FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS
PP16832/01/2013 (031128)
Lee Yen Ling
lee.yl@maybank-ib.com
(603) 2297 8691

Kossan Rubber Industries (KRI MK)

New capacity under way
Raising TP; BUY the laggard
Upcoming 3Q17 results could be better on lower raw material costs and
we expect its new capacity in 4Q17 to support its earnings growth ahead.
Maintain our EPS forecasts, projecting 3-year EPS (2016-19) CAGR of 17%.
Given the certainty of the new capacity coming on board to provide the
growth and the present tight glove supply situation, we think the stock
deserves to re-rate to a higher multiple – we now peg a target of 24x on
2018 EPS (+1SD to mean; 19x previously), deriving a new TP of MYR9.10
(+26%). We upgrade the stock to BUY (from HOLD).

3Q17: Expect better earnings Kossan’s 3Q17 results will be released on 24th Nov (next Thursday). We think sales volume of gloves could be flattish QoQ as it is already running
at its full plant utilisation rate of c.85% and had zero new capacity to sell
in the quarter. However, margin may improve on lower raw material cost
(-11-16% QoQ), hence, we expect its earnings to be better in 3Q17
(2Q17: MYR46m, 3Q16: MYR34m, 1H17: MYR92m).

Ramping up Plant 16
Kossan has commercialised 6 lines at Plant 16 (total of 8 lines) in Nov
2017 and upon full commercialisation in Dec 2017, its capacity will rise
to 25b pcs p.a. (+14% from 22b pcs now). Given the present tight supply
environment, the new capacity from Plant 16 is already fully sold and
the capacity could be used for the production of higher margin gloves
(i.e. LowDerma glove). In 2018, Kossan will commercialise its Plant 17
(+1.5b pcs p.a. in 3Q18) and Plant 18 (+3b pcs p.a. in 4Q18).

Raising efficiency and reducing costs
Over the medium term, Kossan may see its margin expands as it raises its
productivity. For example, it plans to reduce its headcount substantially
to <2 workers/m pcs of gloves in 1-2 years (from 3 workers/m pcs now).
Also, it tries to manage its key costs more efficiently (i.e. raw materials,
utilities). We maintain our earnings forecasts, which have assumed for
volume growth of 10%/14%/12% for FY17-19 and slight margin expansion
of 0.8-0.9-ppt in FY18-19 (from FY17).

KE Trade Maybank raise Kossan target price to 9.10, based on superb outcoming Q317 result due to better on lower raw material cost & new capacity commercialised in 4Q17, expected +26% growth vs last Qtr result.
Expected Q317 result will be better/equal than EPS 9.0 cents.

I believe Kossan coming Qtr earning can hit RM55mil, EPS 8.5cent+, based on China uprise demand, plant 16 start commission end July-17 (13% growth), automation efficiency improve 80%+ and lower butadiene & latex bulk price vs last Qtr result.

On top of it, Kossan should announce & give more bonus share. Compare to Topglove & Hartalega, Kossan total share is the market is still small (Kossan 0.68mil vs Topglove 1.26mil vs Harta 1.65mil). Kossan CEO/mgmt should give out 1 bonus share for every 2 share held & 1 free convertible warrant for every 4 shares held by shareholders. The implementation of this proposal will definitely push up the share price due to more share liquidity in market.

With the increase of Hartalega & Topglove share price due to better uprising, Kossan valuation is way cheaper now. Kossan growth rate is 30%+ till end 2018, similar to Hartalege. Don't forget Kossan is transforming, structure change to become more manufacturing lean, efficient & automation to Industry 4.0. Big opportunity is there.

Time to accumulate Glove maker stock. Raw material - Latex bulk price significant drop to 5.16 from 5.90 (18th Sep) since last 4 days alone. Expected USD vs RM strengthen back to 4.30 to 4.33 due to US Fed stated hike US rate by coming Oct.

Time to accumulate Glove maker stock. Raw material - Latex bulk price significant drop to 5.16 from 5.90 (18th Sep) since last 4 days alone. Expected USD vs RM strengthen back to 4.30 to 4.33 due to US Fed stated hike US rate by coming Oct.

Time to accumulate Glove maker stock. Raw material - Latex bulk price significant drop to 5.16 from 5.90 (18th Sep) since last 4 days alone. Expected USD vs RM strengthen back to 4.30 to 4.33 due to US Fed stated hike US rate by coming Oct. Some more, Kossan already started commencing 3.0bil pcs since end July, additional 13% total vol increase vs last Q2'17 volume production. So, expect by year will see share price up tremendously in coming month then.

CIMB analyst report raise GENM price to 'ADD' call for TP 6.14, call it's way undervalued vs other Asia Macau/Sgp region gaming sector.

■ We organised a guided tour of the newly-opened and rebranded Genting Highlands
by GENM’s management for 10 fund managers last week.
■ GENM’s indoor theme park is currently closed for renovations but when it reopens
by end-2017, it will feature modern and futuristic-themed attractions.
■ All in, we think that GITP’s progress remains on track. We maintain our Add call with
an unchanged RNAV-based target price of RM6.14.
■ GENM’s share price should re-rate as its additional gaming capacity and upcoming
theme park start to unlock value.

Good news for Msia tourism, influx of China tourist to Msia, up 72% year to year.

http://www.ggrasia.com/malaysia-china-tourism-up-72pct-after-korea-row-maybank/

http://www.thestar.com.my/business/business-news/2017/04/03/analyst-report/

I believe majority investors know the benefit of AAC + 2 new IPO (e.g. Asia Aviation Capital (AAC), AirAsia Academy (AACE) (through IPO) and AirAsia Expedia (AAE Travel)) to be listed by late Q4'16 & early Q1'17, help by low oil price gain hedging vs USD/RM worry. Looking on outlook 4Q 2016 expected to see stronger demand due to year end holidays and festivities. Fuel cost volatility mitigated by hedged 70% fuel cost at USD59/bbl for 4Q 2016 and 74% at USD60/bbl for 2017.

TF talk on weaker ringgit, clarified that only 33% of its USD borrowing was unhedged, 47% hedged at rate 3.2348. Others, 50% of its USD non-borrowing costs are hedged up to 2QFY17. Currency risk mitigated by increasing its average fare and ancillary income.
In summary, currency risk vs reward tolerance is low to average range, the key point is the AAC realization to reduce loan debts + special bonus after settled.

CIMB dispose out those not profitable business, move toward to online digital e-business growth with better Cost-Income ratio CIR, NIM & NPL is improving Q-o-Q. From what I see, It's cost restructuring & transformation is on right path.

CIMB Q3 result out, impressive earned RM1.023bil, exceed Q2 (RM872mil) >17% jump with EPS 11.74 cents. Business structure & transformation in on right path, Q-o-Q improved tremendously. Compare to 4 other big banks, this is way good to value with high potential growth. People get skeptic due to Trump issue, exclude this .. look on real business natural and fundamental, CIMB is on good transformation path, climb back to original RM1Billion earning as previously. MY TP 5.60 in next 2mths.

Msia GDP Q3'16 improve & growth to 4.3% vs 4.0% on last Q2'16. Already proven RM80mil+ earning gain vs Q2 on CIMB Niaga & Thai. Cimb quarter will be result out on 16th Nov. Be firm, stay focus, buy business, don't let speculator play and affect our emotional, later do silly investment mistake by selling out.

I believe is an opportunity to accumulate, this is an knee jerk effect that cause by market sentiment. See this an opportunity, be greedy when others are fearful and fearful when others are greedy.

I really don't know why people want to sell, very shallow short term temporary trading mindset. If already proven CIMB Niaga gain ~390% vs last Qtr, Cimb Thai gain 900%+ vs last Qtr, convert to RM gain is RM84mil extra vs last Q2'17. That already 10%+ earning gain to overall total Cimb Msia assume no improvement on Cimb Msia. If really Trump won the US election, is there any impact to overall CIMB earning or coming next Qtrs growth business? Rethink your strategy, don't follow the sheep herd, be a smart investor or trader.
All the best!

Cimb niaga Q3 2016 result out, result good. Year to year, up 432% from 238,456 mil rupiah to 1,268,532, Qtr to Qtr up 25%, from Q2 449,327 mil rupiah to Q3 562,238mil rupiah. EPS gain qtr to qtr, Q1 10.22 rupiah to Q2 28.10 rupiah to Q3 50.48 rupiah. In summary, total EPS Q3 22.38 rupiah x 4 qtr, forward EPS worth 89.52 assume same as Q3, then it share price worth 1074 rupiah, assume PE 12.

Announced by the CIMB group CFO to press, Cimb Niaga result out on 28th Oct, Cimb group result out on 16th Nov. Hope the best !! :)

fyi, Maybank Indonesia result out is impressive, gain 118.4% from Rp592.2bil. Profit before tax surged 123.7% to Rp1.8 trillion in September 2016 from Rp784bil a year ago.
http://www.thestar.com.my/business/business-news/2016/10/24/maybank-indonesia-posts-strong-9m-earnings/

hi Angiechai, for the odd lot on cimb niaga, u need to open foreign trade account if want to dispose those odd lot via online trading account, normally there is a gap price vs market price. If you open under CIMB trading account, the charges is the same as normal lot trading charges, others might charges higher (ex: Maybank charge 0.6% vs CIMB 0.1% service charges for odd lot buy/sell).

CIMB is coming out from bottom out, all it banking countries sector (Cimb Thai, Niaga, Msia) all show impressive Qtr earning result, due to commodities loan business sector is improving and recovering. Even through CIMB Thai contribute ~4% to overall CIMB group, with y-o-y drop -5.6%, but it Q-o-Q outstanding improve to 900%+ grow vs Q2'16. To your info, among big 4 giant banking in Msia (Maybank, PBB, HLB); CIMB is the most undervalued stock. Just a matter of time, we will see CIMB share price goes up with EPS growing Q-o-Q by time.

if look in detail, actually it debts ratio and operation earning is improving vs last qtr-to-date. Long term debts is reducing to RM400m+, but one Qtr earned RM200.8M up-to-date vs last qtr. Going to be free-debts in coming end year if mgmt able to maintain zero borrowing debt. No doubts the inventory cost margin is narrower vs analyst/investor expected.