I got in at 0.775 (right at close!). Wish me luck. I think it's a good buy, now let's see how it pans out over the coming months/years. My holding period/investment horizon for MMHE is 3-5 years, with a target to double/triple my invested capital.

Walao, don't lah go see cotton price etc. You never read Buffet/Lynch/Graham is it?

Something doesn't feel right though, very high volume. What's causing the selling?

Cut loss is for the weak, I buy shares where if they drop I double down...haha ;)

Really just @#@$@!!!!!! What the heck man AA. You were meant to be going up, not go down! (Read in Obi Wan's voice)

Tony is a shady snake-oil salesman. I still keep a bit of AA, but will jump when the price trends back up again.

Very fishy lo, UOB say this is the best stock to buy in 2nd half with TP of RM1.5x, but the stock kept felling downs. If this trends lower to RM0.85-RM0.90 might be a good buy. For now don't fight the current, just submit to it and let the stock felling downs some more!

Yeah damn man liquidity has dried up, not just Armada but so many other counters that I am monitoring!

Walao, Armada till 10.26am just have 6 lots traded (at open). No trades between open and 10.26am...new record? Usually this counter have some noise.

LOL dude that's how you calculate intrinsic value? Pluck some figure out of your back and peg EV/EBIT at 10 and PE at 12? Damn that's sad.

Specter I like your positive attitude, but please be sensible. 40% net margins are ridiculous. It's most probably not going to be achieved anytime soon. Be happy with a 10% net margin in the first few years.

As an investor, you should dissect management views carefully. They're obviously going to sell you the best version of their vision...where in reality the targets usually fall short.

I'm a Hevea investor, but I'm well grounded and don't believe such baseless numbers.

Which means the current P/NTA (i.e. P/BV) is at 0.5X....which is not that great. You can buy better O&G related companies with much healthier balance sheets at that valuation, such as MMHE (currently selling at 0.49X P/BV).

Just want to share here. Always look at the numbers for yourself to see if they match up.

Incorrect calculation:

Total Assets: RM4,.496bil
Total Liabilities: RM2.108bil
# Shares Outstanding: 2.156bil
NTA = (A - L)/(NOSH) = (4.496bil - 2.108bil)/(2.156bil) = RM1.11/share

Correct calculation:

Total Assets: RM4.496bil
Total Intangible Assets: Goodwill + "Other Intangible Assets" = RM1.395bil
Total Tangible Assets: RM4.496bil - RM1.395bil = RM3.101bil
Total Liabilities: RM2.108bil
# Shares Outstanding: 2.156bil
NTA = (TA - L)/(NOSH) = (3.101bil - 2.108bil)/(2.156bil) = RM0.46/share

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THIS IS A VERY BIG DIFFERENCE. Do not follow i3Investor in this case, for the NTA calculation does not discount the intangible balance sheet assets.

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PS: NTA means Net TANGIBLE Assets

Your head NTA is RM1.11!!! You need to minus RM1.4bil from non current assets to get NTA since there is RM900mil goodwill and RM500mil "other intangible assets".

Therefore NTA is actually only at RM0.46 per share! Do the calculation yourself lah, don't just talk nonsense.

That buy queue is so thin...worries me! Sell queue pulak so strong...

kilrathi, I have moved the goalpost down though, queued at 0.76 for now (this whole week actually, tomorrow it might hit that). If 0.76 is not hit, then I will re-analyze over the weekend and re-queue on Monday for the week ahead.

Might be a good contrarian play to put in 5% of your portfolio to UMWOG at these levels (plus subscribe to RI). Seems a bit like oversold.

Are UMWOG shares deposited on Tuesday or Wednesday? What "payment" does you refers to sir?

Has UMW already given out the UMWOG shares to its shareholders? If not means, then Susah loh. Rights issue might have to be scrapped or done at a lower price. Bad to worse.

So what's going on here? Why continually drop recently? What has changed? What am I missing? Serious discussion please.

WTF buy rate at 94% with 12,500 lots done!! I have rarely seen this except in cases where there is very positive newsflow!

Can't you read?

"The Board of AFC wishes to inform that Bursa Securities had, vide its letter dated 21 June 2017, approved a lower PSS of 24.14% pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities."

They don't have to rectify anymore, Bursa has approved the lower spread. Take note in March the spread was at 22.5%, so AsiaFile has improved in that regards. AmanahRaya/PNB selling every other day has helped.

Walao eh...some people ahh....

Sell queue is thin. This will bounce back easily tomorrow if the buyers return after flushing out the short term players.

Joetay, respectfully disagree. PRGL is not a penny stock in any definition. It has a market cap of HKD3.5+ bil. It's majority shareholder is PHB, stable at 53.5% shareholding. I don't disagree, might be some hanky panky going on, but PRGL is far from a penny stock. It is an actual company, and unlike the companies listed in that article it is trading below its book value.

What a shame, not one soul sold yesterday! :(

Not sure what's going on, PRGL at $1.50. Seems pretty fishy...I don't know.

Up 8 cents PRGL...what's going on? https://www.bloomberg.com/quote/3368:HK

If you have read Benjamin Graham, you know well enough to stay away from "hot issues". Lotte Chem Titan was overpriced from the first day, and it is overpriced today as well. Besides the IPO is to fund Indonesian expansion...why the heck support such a company?

The business venture is out of left field...but they are apparently using by products of their manufacturing process, hence if it does prove to be workable, we are looking at rather high margins here...and that's all that matters.

Dead cat bounce is possible. The stock freefall continually from RM1.55...this is just a minor rebound. Go look at the Top 30 shareholders in the annual report and count how many Islamic funds there are...look at the shares they are holding. They MUST dispose all their shares (even at a loss) within 6 months latest.

Always fastest to post results?

Very weird, might be due to Maybank Research issuing a "take profit" strategy call on Bumi Armada this morning? All in all, there is no fundamental reason for Armada to decline from 76.5 to 73.5 in two days in the absence of adverse news.

Walao what's going on...? Irrational market in action...

@king36, that's debatable. It is quite likely undervalued relative to its future earnings potential. The bigger issue is due to the shaky confidence in the stock how low can it fall?

You must understand, Prolexus consumer demand doesn't follow Malaysia pattern (just 1-2% of sales are local), it follows the consumer demand flow of developed countries and regions like US and EU.

Higher USD rate doesn't benefit Hevea. Read the statement from their CEO/MD. Already said it is capped by their clients. No upside if the FX rate slides further. And as a Malaysian don't be so greedy hoping for a further fall in the FX rate lah!

Cool your jets bro. Just enjoy the ride. What's the point Hevea fly to RM1.80 tomorrow then drop back to RM1.50, then yoyo up and down like AirAsia? I rather have small incremental movements backed by increasing confidence in the fundamentals. Whatever rises fast, can fall just as quickly.

I share this investment advice with all of you:

https://s-media-cache-ak0.pinimg.com/736x/72/fc/15/72fc15785f773e104617cb00456818ee--paul-samuelson-finance-business.jpg

Link: http://www.thestar.com.my/business/business-news/2017/07/07/ram-tan-chong-motor-losses-to-persist-before-recovering-in-2018/

RAM downgrades Tan Chong outlook to negative, but reaffirm P1/A1 bond and corporate ratings.

Will be interesting if this results in a small sell-off on Monday. Anything below RM1.70 will be a nice buying opportunity and to top up for me (initial entry at RM1.82). Turnaround is not far off now, with a company like Tan Chong and its Nissan connections, it is hard to go wrong!

@DickyMe, nonsense. Every company should borrow money to maximize returns. Tenaga's gearing is at below 0.4X, which is VERY, VERY conservative. Tenaga's assets far outstrip its liabilities and debt.

I am not well versed in sukuk/bond issuances, but this is neither good nor bad. A company as large as Tenaga raising RM5bil in the debt market is absolutely nothing to fret over. In fact, it might even signify imminent capital expenditure.

Toto2009, KLCI movement is ONLY based on 30 companies movement, not that of the entire market. For example KLCI YTD is 8%, FBM 70 YTD is ~12%, and FBM SCAP YTD is around 15%. All the indexes measure different range of companies based on market caps.

joetay, quality companies of course is very subjective. Parkson is hard to say lah, it has a weak balance sheet and is a declining industry. I have invested in it, but in hindsight I might not have done it. Seems a bit risky now. But in general "quality" refers to companies backed by solid fundamentals - I consider those like Tenaga to be such companies.

Toto2009, what does any individual security have to do with the KLCI, much less a microcap stock like Prolexus? Even in a "bearish" market, quality companies will rise. If the KLCI stays around 1750-1770, that means it will be rangebound and to the advantage of enterprising investors.

Today I queued at 1.26, sadly was not fulfilled. There is a small chance for a minor rebound on Monday, but most likely weakness will persist. I will queue at 1.24 on Monday for the week ahead. I do believe the bottom is near.

Skliew, I am not holding Prolexus, yet. It has been on my buy list for a while now. But I am a patient man. I have read a number of investment books, and one lesson I have learned is to be patient and use the market volatilliy to your advantage. Now is such a great time to buy...but there can be an even better time if you're patient enough cause the share price has a weakness. At some point you have to pull the trigger, cause once depressed enough the fund managers will come in and push the price up quickly. If you're too slow you miss the boat and regret it. If you're too fast you might regret it too. Difficult to time an entry, but you maximise your return s I feel you do it right.

At the moment Prolexus is the company I am monitoring most closely, MMHE is another company. Two very different sectors and situations. I will end up buying only one of these two. Need to keep spare bullets to average down on my recent purchases if the opportunity presents itself.

MBM just announced that June 17 was their best month ever in terms of sales, same with YTD sales being best ever in their history. Surely that would show with CCB achieving better topline and bottomline, no?

Use Google Maps to find the location of the Kluang and Vietnam mill.

Based on Abridged Prospectus, it says Vietnam done in Q3 2017 and mill done in Q4 2017. How? Can or not?

Also, any reason for the decline in topline sales? What could they be? We have favourable FX somemore...

Quote: The price we buy is important but the price at which we sell, most of the time, determines our returns of our investments!!

Sir, with all due respect, this is false. When you read what the best in the business have to say (people like Peter Lynch and Benjamin Graham), they say the opposite is true rather. Our buying price determines our eventual returns.

2 tranche could be from same company too. Futile to find out who. Just be ready for prolonged weakness. Be ready to pounce when Prlexus breathes its last.

No worries. Healthy correction. Just show me next quarter results and the reaction. Aim for RM1.80 minimum. Cost at RM1.29. Holding period just about 1.5 months for now. So far 16% returns (including dividend, net returns at ~14.5%, which is decent).

Damn, I am ready to buy at 1.30, but there is a seller with 11000 lots and I think the weakness can persist to tomorrow. Plus Fridays are always down days with thinner buying interest. Queued at 1.28 for now.

Long term is good. Tutup mate we know that the mill and plant in Vietnam WILL BE COMING. Supposed to be H2 2017, but worst case by H1 2018 it will be operational. Margin expansion and topline growth IS A GIVEN. Question is, can you see the big picture? Are you able to discount a short/mid term price decline and look at the bigger picture?