Bro, let's create a new id using Warren Buffett pic, post a message here that we bought into Hibiscus and see if the market is 'smartly efficient' to digest it prudently. I let you have Warren Buffett. I do a Stephen Schwarzman right after you. lol.

Dericlock By the way, those who really trust he is the real hibiscus managing director should really learn. Dont simply trust what shown in front of you, do at least some research. U see his id then u know he is just joking around
26/03/2018 15:22

That is probably one good governance indicator...likewise it is possible that someone had brought the impersonator to the Company's attention because of persistent irritation, and triggering their corporate affairs folks to act, and there we have it: official clarification. Good job, Hibiscus.

beachboy Wow... Their management also got looking at i3 forum.. So our feedback here is aware by their management.
26/03/2018 15:42

Isn't this the standard rule of thumb in any sane investment decision? :)

Ken Lim Appreciated Hibiscus M.D. inform our small holder . I think better we follow officially company announcement .
26/03/2018 16:49

The announcement on the i3 'faker'...Hibiscus is watching here too. Hahaha

I thought this should see a prophetic TP of 370 sen?

Joe jambul Don't tell me you use 2 bamboo and a coconut.
23/03/2018 21:28

@locomania: concur.

I have the impression that Brent is more relevant to Hibiscus than WTI?

Nothing spotted in Bursa, as yet.

hohoho123 28 ?any anoucement?
21/03/2018 15:44

Ok, I am learning. Thanks for sharing

Wait for the North Sabah deal closure first.

How did you spot the big brothers? Curious.

NoPlayBall Yes, no point chasing, can see got big brothers commited at 85 sen..we ikan bilis can wait at 80 sen or less.. still got time for it to come down before listing of warrants..hahaha
21/03/2018 11:08

Hi, you are right that one has to purchase the shares before the 14 March to be entitled to the bonus warrants. Cheers

Luoli: nice to see you in Bungaraya.

Did the bloke get the basics correct on ex and entitlement date and bonus entitlement?

https://klse.i3investor.com/blogs/Opportunityinvesting/150639.jsp

Are you sure your basics on ex and entitlement date is correct?

So the reason on why you all are here is because of Koon Yew Yin? He must be elated knowing this.

Wonder what is gonna happen to the mum's price when the child appear?

No worries. Just teasing him/her. Chill.

Jon Choivo No, she's just saying auditors have no business sense.

The numbers are correct. But numbers like goodwill, rely on alot of assumptions. As investors, one must be conservative. And in this case, ill just impair the whole damn thing for my calculation purposes.

Seems to be suggesting that we should be wary of the unqualified financial statements of Bursa listed companies....oh my god....are those numbers reasonable, really? oh my godlie.

"Most of the auditor, their first job is audit and never go in commercial and look at the business."

If Arthur Andersen can vapourise because of Enron, it goes to show that things can go wrong when things look alight. Is there this term called professional skepticism, or financial vigilance that needs to be exercised at all times?


angelol I'm an auditor but also a business graduate. What I can say is, if you only look at the account, go to impair everything together with the goodwill, basically the stock you can buy is dividend driven co which would probably give you stable dividend and some capital gain.

You must also understand that on accounting, goodwill should be reviewed on yearly basis? The management in Sapura, a lot of them, carrying ICAEW qualification and the account is audited by KPMG. Are you telling us they have a miss on this and you do it correctly by impair everything?

Most of the auditor, their first job is audit and never go in commercial and look at the business.

We talk about logic now, Petronas just award 5 contracts to Sapura, which you say has an adjusted gearing of 386%. Why Petronas dint consult you first before they award the contract? oh, Maybe Petronas dont have smart people like you.
15/03/2018 15:30

Could have imagine the challenges of the (supposedly independent) auditor, while contesting the assertions they have to think about the client satisfaction and retention factor.

Can't imagine how one would/could establish a nexus connection of the short term share price movement with your write-up, while I am more inclined to associate it with the price trend over the last reasonable 3 years.

Thanks for the critical write-up. It is good to have a balanced view.


Jon Choivo Yes, you do a comparative to the previous year budgeted to actual. But you just need to make sure it is reasonable. Which, well... depends on how good you are at arguing your perspective.

Look at it like banks in 2008, they take on all that risk using great calculations and take their fat bonuses. Then when it crash, they say that this is a six sigma event, a one in a million, we could not have possibly predicted, therefore not my fault.

Auditors stay within the lines drawn very well. The problem is where the lines are drawn. And its impossible to get a solution that is 100% true and fair that has no trade offs.

If the same DCF representation is given year after year and those prior representations do not materialise, wouldn't that exception be spotted in the course of a comparative review?

"As an auditor, I also know how we would justify this figure. Review a semi acceptable DCF from the management about how the companies bought are still worth the price paid, if oil prices go back up. The thing about DCF’s is, it’s a Hubble Telescope, move it a millimetre and you’re looking at a completely different universe."

Insightful. Thanks

Calvin...you must had taken in quite a bit of MRCB below 90. Good luck. Election theme counter, I think.

I might be thinking too cautiously but the misalignment between the PP and the management's apparent representation to Affin Hwang about their cash-flow is kind of uncomfortable.

Lee Richard Good chance to accumulate since contractual claim for EOT / Extension of TIME and associated Cost due VO from Employer's instruction for additional Works is obvious...
15/03/2018 11:20

That is his way of placing emphasis on a subject matter. haha.

lala23 dude why do u write in caps? eye pain to read. even worse if using phone to read
15/03/2018 10:59

calvintaneng: I left IFCA positively and happily. Thanks for asking. You had over-rated me. I am not worthy of the Mark Mobius title but for a fact I do appreciate Mark Mobius financial literature, particularly those on emerging markets. Glad that you are ok, my friend,

@calvintaneng: how are you, my friend? Hope all's well. :)

hahaha...HY modus operandi...naughty you..

lala23 will kyy come out with a new article "disguised blessing"
15/03/2018 10:39

The selling pressure is apparent. Small retailers like us, or at least for me, do not appreciate fight between the single major shareholder and the management. For investors to bite the PP, evidently the lowest possible entry price calls the shot, bearing in mind the minute they park the monies they are exposed to the ongoing tussle of Koon and Pacific Star.


siswati Unless KYY can come in and stem the spiralling downwards of share price, the momentum points towards a continue drop... Remember to do a PP, buyers would want a discount to market price. No one wants to buy on the high side...I foresee price to go down even more... to RM1.40, I think quite likely. At 10% discount, that's RM1.26, possibly good enough price for PP investors to bite. ?
15/03/2018 09:48

@siswati: Good sharing.

Issac: read Clause 5 carefully...especially that in connection with the current mandate

@hng33: thanks for the insightful write-up.

PP is open to credit worthy investors and KYY should be well connected, foreseeably.

Issac: it is already endorsed in current mandate approved in last agm. Like what lizi said, they would try to make it happen before the current mandate lapse.

The notion of related parties is very wide. If he wants, he would have his way.


Posted by lizi > Mar 14, 2018 09:49 PM | Report Abuse

cannot, already mentioned PP is not for major shareholder, director or any related to them...

Encourage kyy to take up the PP in entirety then. Afterall they are going to be at a discount from prevailing market price, and a sizeable gap from the Affin Hwang's asserted TP.

Ken Lim May I know why today drop so many n what’s the warrant exercise price ?
14/03/2018 14:48

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5712017

paktua....fahmi is a no nonsense character. He talk when necessary...a character of limited words..

Bro, I am glad that you broke your 1-word silence. Keep it up. hehehe

Mohd Fahmi Bin Jaes Because I'm Fahmi ma....
14/03/2018 11:15

Some like it hot mah. hahaha. How you know many pple got burnt ah?

Mohd Fahmi Bin Jaes So many ppl got burnt
14/03/2018 10:57

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5712081

Alan Mu When will we get our free warrant...Is it on the entitlement date?
14/03/2018 09:41
14/03/2018 11:02

Musang....if the purpose of this bonus warrants is to raise funds, then the market price has to be conducive to encourage conversion, bearing in mind that the first milestone is RM 1. Yeah, what is 2 weeks of waiting?

Investors always have the option to sell the warrant if in their opinion the cost of conversion exceeds the prevailing market price per share.

Cannon King Free warrant become more expensive to convert to the rubbish mother share..haha.
14/03/2018 10:17

Why ah?

StockKeeper drop too much already. free warrant become free rubbish.
14/03/2018 10:13

Today is already the ex-date.Those who buy are not entitled to the bonus warrants.

Cannon King Those newbie that buy with the intention of getting 'free' warrant..go ask lebai google about 'capital dilution' .. this world no free lunch punya la boss..
14/03/2018 10:18

Aiyoo....relac relac ah...

And your position is neutral?

Mohd Fahmi Bln Jaes Sell
14/03/2018 09:39

Mohd Fahmi Bln Jaes Buy
14/03/2018 09:39

Thank you for the alternative insight, kcchongnz.

http://www.theedgemarkets.com/article/hibiscus-petroleum-focus-project-execution-2h