This is normal and always been this way in a forum, is part of the game.

I don't understand why some savvy person so emphasized to use NTA to value a company is under value or over value?

Book value should not be seen in isolation.

When we talk on NTA. It all depends upon what type of company we are talking about. Companies with a lot of fixed assets (say manufacturing companies) have a high book value. In contrast, labour-intensive companies may have a lower book value. One needs to differentiate while applying this methodology.

Many companies create revaluation reserves to inflate book value. Many also raise equity at a substantial premium.

At times, due to its cyclical nature, the whole industry may be going through tough times. Such companies, as a result, may trade at a discount to their book value.

Also, in industries such as information technology, where the requirement for capital is low, the book value tends to be low. This does not mean that they do not offer value.

Ideally, while deciding to invest in a company, the investor needs to ascertain if the companies exhibit solid fundamentals, strong earnings power, and the potential for continued growth. Not just emphasized on NTA or just use NTA to lookout for stocks.

I do not know why so many analysts or retailers start to use NTA as a valuation-base. I used to heard of PER being popularly used, perhaps ... P/B too. But NTA? Why every tom-dick now talking about the NTA of companies when we are trading/investing? Who started the NTA game?

Even for property counters, they talked about HIGH NTA value ... therefore, it is under-valued. Anything to justify that the stock is under-valued?

I do hope someone will come out and tell newbies that we do not use NTA to place whether a stock is under-valued or not. It is very misleading. Why those analysts want to mislead the trading public, I don't know.

But ... I want to let those newbies to know ... do not just follow those NTA valuation blindly. Try to understand what NTA is.

Earnings (EPS) is much more important and should be emphasized.

If invest in stock base on NTA or PE, you will never buy all the consistent growing company even their price drop 50 %.

See below of Price/NTA
Coca-cola= 56/5.2
Face Book= 363/49
Microsoft= 304/19
Tesla= 706/25
Nestle= 133/3.2
Public Bank= 4.05/2.36
MyEG= 1.96/0.34
VITROX= 19.4/14.4
Inari= 3.52/0.41
Penta= 5.33/0.75
PANAMY= 32.3/13.3

Just my opinion.

那些真正是股票大师的人会从股票市场中获利，他们实际上没有时间教学生股票课程。 那些讲得像salesman和表现得看起来像股票大師的人其目的都是从学生/班级课程中赚大钱。 如果他们已经这么优秀，从股市赚了很多钱，还需要教学生吗？ 真的, 买几本真正大股票大師的书来读好过交几千塊的学费给这些沒有风险管控的烂大師！

Yes, icap ceased to be Substantial Shareholder not because icap sold shares, is due to after P/P which diluted the shareholdings of icapital to less than 5%.

At the current price 0.615, it is very much cheaper than the shareholders who bought it at the P/P price 0.6623.

A weak 2020 awaits both sellers and buyers as they grapple with anticipated reduced consumer demand.

In the same vein as Europe, supply is expected to remain abundant in the Turkish market amid incoming US volumes with structurally low demand.
05/12/2019 4:38 PM

Global polyethylene markets will enter 2020 facing oversupply and pressured prices, with demand expected to lag behind throughout the year.

Asia, Europe and Turkey see similar challenges with abundant resin supply amid economic slowdowns and continued uncertainty stemming from the US-China trade TENSION.

Thirteen new PE plants in the first wave of startups from 2017-2019 will increase North American PE capacity by 35% to more than 27 million mt/year. The 15 plants slated to start up through the 2020s will push that overall capacity up by another 26% to 34.35 million mt/year.

Prices are showing oversupply pressure. By early November 2019, HDPE blowmolding prices had fallen 43% to $782/mt FAS Houston since mid-March 2018. In the same span, LLDPE fell 41% to $772/mt FAS, and LDPE fell 37% to $871/mt FAS.

At least one of the new plants slated to start up by year-end 2019 will ramp up in early 2020, that being LyondellBasell's new 550,000 HDPE plant alongside the Houston Ship Channel. The plant had been slated for startup in mid-2019. However, market participants expect price pressure from oversupply to linger into 2020.

"We don't see prices rising in Q1 2020," a PE trader said. Globally, there's already so much supply."

A weak 2020 awaits both sellers and buyers as they grapple with anticipated reduced consumer demand.

In the same vein as Europe, supply is expected to remain abundant in the Turkish market amid incoming US volumes with structurally low demand.

Global polyethylene markets will enter 2020 facing oversupply and pressured prices, with demand expected to lag behind throughout the year.

Asia, Europe and Turkey see similar challenges with abundant resin supply amid economic slowdowns and continued uncertainty stemming from the US-China trade TENSION.

Thirteen new PE plants in the first wave of startups from 2017-2019 will increase North American PE capacity by 35% to more than 27 million mt/year. The 15 plants slated to start up through the 2020s will push that overall capacity up by another 26% to 34.35 million mt/year.

Prices are showing oversupply pressure. By early November 2019, HDPE blowmolding prices had fallen 43% to $782/mt FAS Houston since mid-March 2018. In the same span, LLDPE fell 41% to $772/mt FAS, and LDPE fell 37% to $871/mt FAS.

At least one of the new plants slated to start up by year-end 2019 will ramp up in early 2020, that being LyondellBasell's new 550,000 HDPE plant alongside the Houston Ship Channel. The plant had been slated for startup in mid-2019. However, market participants expect price pressure from oversupply to linger into 2020.

"We don't see prices rising in Q1 2020," a PE trader said. Globally, there's already so much supply."

Petrochemical so bearish in 2019/2020 yet so powerful of JF Apex research in its daily highlights report can push price up by 20cent.

So many traders jump in because of the news: Lotte Chemical Titan said its US-based joint venture company Lotte Chemical USA Corp's ethane cracker and monoethylene glycol plants had started commercial operations in August 2019 on an integrated basis.

South Korea's Lotte Chemical also shut its plant ......I wonder in a bearish market how adding more supply to market will help LCTitan.... Lets see

https://www.theedgemarkets.com/article/power-root-lotte-chemical-titan-dnex-affin-bank-suria-capital-apft-priceworth-international

https://www.thestar.com.my/business/business-news/2019/09/06/trading-ideas-lotte-chemical-titan-affin-bank-suria-capital-and-priceworth

Petronas will be entering the polymer market during a likely period of oversupply with new capacity scheduled to come on stream in South Korea, Oman and US in the coming year.

https://www.argusmedia.com/en/news/1967552-petronas-targets-pengerang-lldpe-production

HDPE prices tumble in Asia
This week, HDPE prices witnessed a sharp drop, in Asia. Prices dipped, as demand trends continued to remain bearish. The buying mood was extremely sluggish in major markets like China, owing to the ongoing U.S.- China trade tussle.

Reports of plentiful product availability, further pressured HDPE prices lower, in Asia.

In Far East Asia, HDPE film prices were at the USD 920/mt levels, while HDPE blow moulding prices, were at the USD 900/mt levels, both down USD 30/mt from the previous week. HDPE injection prices, were assessed lower at the USD 840/mt levels, a sharp week on week drop of USD 30/mt. HDPE yarn prices were at the USD 880/mt levels, a week on week plunge of USD 60/mt.

In South East Asia, HDPE film prices were assessed lower, at the USD 940/mt CFR levels, a week on week decline of USD 20/mt. HDPE BM prices were assessed, at the USD 910/mt levels, down USD 30/mt from the last week. HDPE Injection prices, were assessed lower, at the USD 880/mt levels, a week on week fall of USD 20/mt. HDPE yarn prices were assessed, at the USD 900/mt levels, a steep drop of USD 60/mt from the previous week.

https://www.polymerupdate.com/news/breaking/29Aug2019/67902/hdpe-prices-tumble-in-asia

Aberdeen and EPF who held their ground in seeking a higher buy-out price, all the other minority shareholders of MOX enjoyed a better price too, even though they did not join the fight.

If it is voluntary decision, the firm pays its shareholders to return the shares held by them and removes the entire lot of shares from the exchange.

The power is in the hands of investors. If they think that the offer price is too low, then they should not accept it. And when investors accept the offer, the investors are essentially facilitating the move by the company to leave the stock market, as once the offeror has a 90% acceptance rate, the offeror can proceed to compulsorily acquire the company and proceed to take it private.

The good news is some investors are exercising their power. Recall the case of Malaysian Oxygen Bhd (MOX), where its institutional shareholders – Aberdeen and the Employees Provident Fund – were successful in obtaining a higher buy-out price than what was initially offered.

Bursa Malaysia Securities Bhd will not automatically suspend or delist companies that do not comply with public shareholding spread.

On Paragraph 8.15 (1) of the LR, whereby upon non-compliance of the public shareholding spread requirement, it might accept a percentage lower than 25% of the total number of listed shares if it was satisfied that the lower percentage was sufficient for a liquid market in such shares.

Suspension or delisting shall commence only upon 90% or more of the listed shares being held singly or jointly with associates of the said shareholders pursuant to Paragraph 8.15 (5) of the LR.

If in the event clause (Paragraph 8.15 (5)) was not triggered and the listed issuer wished to withdraw its listing, shareholders’ approval had to be obtained as stated in Paragraph 16.05 of the LR.

PART B – CONTINUING LISTING CRITERIA
8.02 Compliance with shareholding or unit holding spread requirement
(1) A listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) or listed units are in the hands of public shareholders or unit holders.

The Exchange may accept a percentage lower than 25% of the total number of listed shares (excluding treasury shares) or listed units if it is satisfied that such lower percentage is sufficient for a liquid market in such shares or units.

GEM is just a gimmick for crook to raise fun and suck investors money. Only dreamer will think GEM will make money/profit for NETX in future. What happen to their PayAllz now after more than 2 years promoting...

Before you invest check first who is this counter's boss and his link to few other listed counters with disguise business.

Don't simply believe news released about their oversea business if in Malaysia see nothing happen.

GEM is just a gimmick for crook to raise fun and suck investors money. Only dreamer will think GEM will make money/profit for NETX in future. What happen to their PayAllz now after more than 2 years promoting...

Before you invest check first who is this counter's boss and his link to few other listed counters with disguise business.

Beware of promoters... if a counter is good, need to promote so hard meh? If good just quietly buy more and more lah....

2017 already fund raising, now again fund raising? Anybody has seen or try or come across their service or product...PayAllz? go and check at PayAllz website/facebook.....Last time some part of website are not complete, now I can't find the PayAllz website. 2017 i try to register their PayAllz but not able,. Please check in Playstore on how many of PayAllz app has been downloaded since. From time to time they released news or MOU with other party but what was the results? This company link to few other listed company which are making losses too. Last time using PayAllz to raise fund now GEM.... pity all investors who believe in....

Stay away from investing in NETX. 2017 already fund raising, now again fund raising? Anybody has seen or try or come across their service or product...PayAllz? Keep on fund raising, that's why cash a lot but is only a shell company. Go and check at their website/facebook.....Last time some part of website are not complete, now I can't find the PayAllz website. 2017 i try to register their PayAllz but not able,. Please check in Playstore on how many of PayAllz app has been downloaded. From time to time they will release news or MOU with other party but nothing get done. This company boss is link to few other listed company which are making losses and keep raising fund.

Dont blame PH/LGE when market is against you, please look at the fact that all Asia share markets were perform badly, FKLI consider no that bad when compare to other Asia country:

For October Index fall from highest to lowest:
Japan Nikkei: -14%
Hongkong Hang Seng: -11%
China SSE：-9.5%
Singapore STI: -7.7%
KLSE: -7%
Indon JKSE: -5.5%

For 2018 YTD:
Turkey Xu100 -19.90%
China CSI300 -17.68%
S Korea KOSPI -15.06%
Italy -12.21%
Hang Seng -11.47%
Singapore STI -8.42%
Indonesia JCI -8.18%
Taiwan Taiex -7.50%
UK FTSE -7.45%
Malaysia KLCI -4.62%
Thailand Set -4.10%
Japan Nikkei -2.29%