Thank you for the refresher course.

"Now Everyone Can Buy" Haha. Love the pun.

dontfollowblindly follows blindly haha.

JT Yeo, spoken like a true investor hahaha.

Nice work. In 3Q15, Tguan suffered forex loss of RM2.97m. In the latest quarter, it is 714k. Who say they benefited from weak RM?

Fed does not need to raise rates. A third of the global economy is in negative rates and that has the same effect as US raising rates.

Notwithstanding the rebound in oil price, oil inventory is actually going up.

Sounds too good to be true, such a high concentrated ore. Be cautious of management front loading with good quality ore first and then process poor quality ore later. Investors will also get screwed when gold production drop off suddenly. Anyway, let's wait for the report. Maybe that will shed some light.

Also note that hard rock do require quite a bit more cyanide. That will probably be the determining factor in Bornoil's profitability. CNMC uses 150g per ton of ore, and typical Australian mines uses 500g per ton.

CNMC's cost is all-in. It includes the typical royalty bla bla and also expenses on exploration, capex etc. It is a net cost. So let's see Bornoil talk only or can deliver.

"Borneo Oil cost is RM52,000 per kg" Wow! So power!! OK, let's see...

"If you don't find my 20% net margin convincing, you can use lets say 10%." CNMC's latest all-in-cost is USD555/oz. That means based on current gold price of USD1,200/oz, their margin is more than 100%. I don't want to over-promote SGX stocks, because there are risks venturing into foreign markets, but just bear that in mind when you compare Bornoil to CNMC. CNMC is almost like a cash printing machine, with around 70-80% of profit being FCF, ROE of nearly 40%, trading at ridiculous valuation. CNMC's cost is so low because the ore is very loose resulting in very low cyanide usage.

It is really important to know the grade of the ore. The grade determines the profitability, not the gross amount of gold in the ground. Cyanide is not cheap, the less concentrated is your ore, the more dirt you need to process and the more cyanide you need.

Your model makes sense, but not Bornoil's capacity. You said that they process 20k tons of ore per month, or 60k tons of ore per quarter. To produce 191kg, they need ore grade of at least 3.2 g/ton. While there are a handful of gold mines that have ore grade much higher than that, the average producing gold mine is only 1.18 g/ton. CNMC's mine is only about 1.5 g/ton. I think I will take the numbers with a bucket of salt. Alternatively, what companies can do to boost output is to mine the good quality ore first, leaving poorer quality ore for later. Without an independent resource report, we can only guess at the type of mine Bornoil has. Transparency is quite lacking in my opinion. Australian mining companies for example are required to publish resource report.

For the record, cnmc processes a million tons of ore per year. That's a lot a lot of dirt to process. Does bornoil disclose their processing capacity or the grade of their ore?

Icon8888, if interested in gold mining, why not invest in CNMC Goldmine listed in SGX? It is already operating a gold mine in Kelantan, and it has one of the lowest cost in the world. It is only trading at PER 6.5 and it has a div yield of 4%.

Good sharing thanks!

It's never too early to invest, and never too little capital, because compounding magnifies your return many folds.

I don't get it too. While rm has weakened, so has raw milk price.

Huh? This is news? Get a life mate. Many public listed companies in US release bad news the next day after New Years day, hoping that many will be hung over from partying the night before and the bad news will not be noticed. Is it illegal? No. Is it immoral? No. Is it a big deal? No. As long as the BOD discharges their duties to disclose relevant information as per Bursa rules, the duty to monitor these disclosures lies solely with the shareholders. Any more 'sensitive' Whatsapp chat? *yawn*

Tguan is not only forex play, it is forex+expansion+improving margin. It is a stock to own even if ringgit strengthens.

This is what the analyst missed, gross margin for plastic products:
Q1=2%
Q2=5%
Q3=7%
Q4=10%

Icon8888 Hi 5!

Maybe Hevea expect RM to strengthen a bit to pay back the US denominated debt cheaper? Who knows, who cares, RM23m is just a fraction of what they owe 3 years ago. You all are scraping the bottom of the barrel for negative materials, materials like this also want to publish.

I thank Robert for the opportunity to buy cheap.

Thank u robertl for the chance to collect cheap.

I prefer that they don't give dividend. Do note that any dividend they give will be offseted against the offer price by Aspire Insight. They give 2 cents dividend, instead of RM3.30 offer price, you will only get RM3.28. Kianjoo does not issue dividends after receiving the offer for this reason. And I prefer that they do not issue dividend now.

JT Yeo, actually, all else equal, I prefer to use PE over ROE. In my opinion, it is easier to assume that the company can maintain the profit, than to assume that the company can continue to be as efficient in utilising equity as it did in the past. But of course I don't depend on PE alone to make my investment decision, and I do take ROE into consideration. What I'm trying to say is, if I have only 1 tool to use to make decision, it is PE rather than ROE. Maintaining the profit is just doing more or less the same as it did last quarter, maintaining same efficiency means figuring out what to do with new equity. The former is an easier assumption, in my opinion.

What is a catastrophic event?
Black Monday - 17/10/1987, Dow Jones crashed 22% in 1 day.
1997 Asian Financial crisis - Bursa halved from 1,200 to 600
2007 Submprime crisis - Dow Jones crashed 54%

These are bourse indexes typically tracking large cap blue chips. The decline for small-mid cap stocks that typically make up the majority portfolio of many forumers are likely to be more severe. These crashes can wipe you out clean if you are heavily leveraged using margin financing.

Thanks KC for the timely reminder of the danger of margin financing. All investors should prepare for a catastrophic event. It doesn't need to happen often, it only need to happen once in your lifetime to wipe out your entire wealth, if you are heavily leveraged using margin financing. These events are not that rare really. Very few economists predicted the subprime crisis, and no one foresaw the recent crash in oil price. The only way to recover from such catastrophic events is to sit tight and wait it out, and you cannot wait it out if you are heavily leveraged.

Great advice! Compound interest is definitely what young people should know because most do not see the need to invest when capital is small. Small becomes big and then very big with time and persistence

*yawn* stopped reading after the first paragraph. Can the author attack Hevea's profit, cash flow or balance sheet for once? This is like jilted lover story lah, sian...

Analysts have been calling for sub 1k gold price just a few months ago. With 1/3 of the global economy having negative interest rates, gold seems like a decent place to be now.

2 stocks. China aviation oil listed in sgx, the largest fuel jet trader in Asia Pacific, and Sam engineering, which should benefit from Pratt and Whitney's expansion in Singapore.

I must say that your write up is not only informative but hilarious as well. Thank u for an entertaining read. All eyes on Toyota Tsusho now whether they will throw in their hat to bid for kianjoo. The deadline to watch is 31st March.

icon123, I'm not a trader. Look at it this way, if you read the news past few days, Pratt and Whitney is investing as much as $40m in their factory in Singapore over the next 18 months. If you are patient, maybe revenue will go up, who knows? But don't look at me, traders might not have the same level of patience I have.

Last quarter was boosted by net forex (forex + derivative) gain of 5.3m. This quarter it is zero net gain. In spite of this, profit only dropped 3.1m. I'd say it is satisfactory.

Amazing, I have actually been barred from posting in the dumb blog post "Moronic Market Action by HEVEABOARD (Part 2)". Wow. That's quite a lot of power syndicates wield over honest forumers like me. Here's the post that got censored again and again until I got barred from the blog. My guess is that it will get censored here too:

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again.

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again.

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again.

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again.

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again. Yes the author is so scared to have his scheme exposed.

The persistence of these dumb articles just prove that Hevea's shares is under syndicate attack, and not due to poor fundamentals. Some glaring errors:

1) Buying or selling shares should not be dictated by exchange rate alone. Over the weekend, the reputable The Edge forecasted RM/USD to close at 4.7 by year end, what are you going to do? Jump back into export stocks? Last year, The Edge forecasts have been more accurate than all the analysts it featured.

2) Heveaboard makes E0 formaldehyde free particleboard that meets the stringent JIS standard. It is a product in demand in an increasingly health conscious society. It is not technologically outdated. If you are worried about technology, maybe you should worry about Mieco or Evergreen instead.

3) China is slowing, but it is due to a drop in investment, not consumption. Government is switching from growth from investment to services and consumption. As a matter of fact, contribution from services exceeded half of GDP for the first time in Chinese history. This augurs well for Hevea.

Well, let the financial results speak for itself. In the meantime, please write more so I can collect even cheaper.

You flag again I post again.

Post removed.Why?

Post removed.Why?

Post removed.Why?

Post removed.Why?

Post removed.Why?

The Edge forecast 2016 year end RM/USD rate to be 4.7.

Post removed.Why?