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Since last quarter, hevea has turned net cash. So yes, u r mistaken.

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Look, if you are so optimistic about prospect about Indonesian poultry, why not just buy Japfa listed in SGX, instead of settling for 10% stake in the JV with Salim? Japfa is already an established player and last quarter was solid.

Can't agree more. I've been buying SHH on the way down.

I agree. Those who sat on the sideline waiting for market to recover often end up joining the bull market at the peak. Forget about timing the market. Just continue to buy good stocks cheap and u will be fine.

Oil is a consumable, and therefore not easy to "price in" just because the Iran sanction has been widely expected. It is not easy to "price in" because there is a limit how much crude oil can be stored. A better guide to real demand and supply balance is perhaps US crude oil stockpile data. What does it tell us? Stockpile has been increasing and there's may be a looming issue of storing all the excess, WITHOUT Iran dumping it's stockpile on the market. Go figure what happens when Iran's excesses hit the market. Let's put it another way. Your 70% drop in oil price happens while speculators are busy buying up crude to be sold at a later date due to contango pricing. These additional speculative demands are sitting on storage terminals and idle tankers, even BEFORE Iran unleashes it's stockpile.

Do you expect oil price to recover given Iran is about to unleash its production to the global market?

Thank you for the great research! Have certainly learned a thing or two. I have read through the downgrade report, the analyst is comparing Tguan to low margin film manufacturers. But last 2 quarters showed increasing gross profit margin for its plastic products. The donkey analyst doesn't appear to appreciate that Tguan expansion is not only generating higher revenue, but higher margin as well.

Lee David, just in case you don't know, bigger companies generally command higher valuation than smaller companies, not the other way around. Therefore, Hon Hai should command higher valuation, not lower, than VS, purely base on market capitalization.

I will never buy into management that cheated before. Ranhill kept quiet when Petronas cancelled its vendor license and the investment community found out only after Bursa reprimanded Ranhill for withholding vital information. No way I'm touching these crooks ever again.

So what if he supports Bersih? When Stanley Thai openly supports the opposition before the general election, EPF sold down Supermax. After that, when Supermax made massive profits, EPF came back faithfully and became a substantial holder again like bees attracted to honey. If Robert can't dispute the profit or the cash flow, the temporary weakness only means an opportunity to buy more for serious investors. Only an emotionally unstable person, like a sacked employee or a jilted girlfriend, will resort to making a fuss over his activities outside business hours. *yawn* still waiting for the mega sale, hope you have better materials than the crap you have posted above Robert.

Unless u have evidence to dispute the cash flow or profits, it's a big yawn for me. Analysts typically promotes companies under their coverage. It is not unusual and that's how investment bank get deals. Sure, nobody likes biased reports, but if u think that's a big deal, go ahead, I'll ready to collect.

Some time ago I've decided I will make decision based solely on data. After that I became somewhat immune to pain. But my average cost is only Rm2.05, so I'm still quite comfortable despite the market correction. Well I guess I'm following kc chong's advice: let your winners run! Not doing anything until I see their numbers.

As an added bonus, Tguan actually suffered RM3m net forex loss in their 3Q report. That's a nice buffer should ringgit strengthen.

*yawn* you think hong kong soap opera meh? Everyday leak a bit. Professional short sellers whack all at once. Damn amateur.

Respect!

Yes, if EU remove the tariff against China to comply with WTO ruling, the obvious loser is Chinwel and Tongher.

http://www.reuters.com/article/us-eu-china-wto-idUSKCN0UX0DO

Sir, if you read news a few days ago, EU court just ruled against the anti-dumping tariff against China. This is a big negative for Chin Well.

Thank you for writing and sharing info. I learned plenty from your work. My only gripe with you is that you publish too fast hahaha. Sometimes I am eyeing the same stock that you are eyeing but the speed at which you publish your work invites more competition. Anyway, I'm never the one who complains about competition. Kudos to the work you have done, the speed at which you push out your articles indicates that you are not only selfless in sharing, but also a serious investor.

Usually professional short sellers let all the revelation out at once to build a convincing case to sell. Robertl leak bit by bit. Behaves just like a disgruntled girlfriend who got dumped, really lack credibility and conviction.

Thank u Robertl for the opportunity to buy cheap. But by releasing allegations that can be refuted so easily, I think u have just lost all credibility. May I suggest that u read reports from professional short sellers like Muddy Waters, Iceberg Research to see how the pros do it?

As an investor, I actually hoped that management don't give dividend at all but use all their free cash to settle their debt first.

This is a rather poor analysis. Shell went back into the red not because it is not profitable, but due to scheduled maintenance that caused its revenue to halve. Your should have excluded last quarter and look at 2 previous 2 profitable quarters where such maintenance activity was absent. Thumbs down to poor analysis.

KC, I enjoyed this write up very much. Love the quotes. I currently have close to 20 stocks and am overwhelmed with the amount of work needed to monitor them. Having 30 stocks will indeed be a challenge.

Superman 99, glad u enjoyed my picks. There's no value added to the community by just recycling popular stocks. Glad to be able to inject some freshness in a stale list (I do admit my other 3 picks are stale, it's not easy to find undiscovered gems ☺).

KC Chong is my sifu, although he may not acknowledge me as his student.

Here are my picks:

TGUAN-WA - 17%
CANONE - 16%
SHH - 23%
JAYCORP - 10%
SAM - 17%
MUDAJYA - 17%

1) I don't have to explain about Tguan's business, YiStock and Icon8888 have written extensively about it. Tguan should achieve revenue growth as well as margin improvement this year from aggressive expansion into higher margin products. Oil price does not look set to rebound this year, with Iran about to unleash it's production into the market with the upliftment of sanctions. Therefore, resin price should stay subdued. Rock solid 3Q15 result is achieved despite net forex loss of RM3m.

2) I think time is ripe for the take over price of KianJoo to be revised upwards of RM3.30. RM3.30 was offered in November 2013 and since then KianJoo's business has grown. It also did not declare any dividends over the past few years because any dividends it declare will be offseted against the RM3.30 takeover price. With the ringgit depreciation, KianJoo has grown cheaper to foreign suitors. According to Focus Malaysia, Toyota Tsusho is still in talks with Canone's management for a buyout. Watch for deadline 31/3/16 for the deal with Aspire Insight to conclude. Will another suitor put in a bid?

3) Is furniture theme still in play? I'm going put my money on SHH and Jaycorp instead of the usual suspects. SHH is a pure US play as all its products are exported there. 3Q15 results is achieves despite forex loss of RM1.2m. Excluding this, core eps is actually 9 cents, which translate to PER of 5.5 annualised. If results can be sustained, it is probably the cheapest furniture stock in Bursa. Management has audaciously raised dividend from 2 cents to 10 cents, suggesting strong confidence in its prospect.

4) Jaycorp is not quite as sexy as SHH as only a third of its export is to North America. 55% of its products are exported. The recent solid result is achieved in spite of net forex losses. Core eps is around 4.6 cents, PE is around 6.5 annualised. Still cheaper than the usual suspects.

5) With an order book many times its market capitalisation, 2016 may be another solid year for SAM. SAM management is going after RM1 billion revenue target from half a billion in 2015, although I can't find the timeline for them to achieve it. SAM has a moat that is impenetrable, because aircraft casings are highly precise parts very few fabricators have the ability to make.

6) Mudajaya is hopefully the dark horse. This is a low expectation counter that is picked up from the garbage bin. With the Indian power plant firing up, this may be a year of rerating for Mudajaya. But we'll have to see if the Indian government will compensate them for relatively expensive coal price locked in in 2014 when coal price was significantly higher.

Submit by end of today. I'm still writing the explanation.

Great job, we need more activist investors like this.

I'm glad I overweighted Tguan before Uncle Koon started promoting it. There are many Koon haters in I3, and here's a word of advice: save your hate and work hard so you can buy before Uncle Koon buys. Be like YiStock, work his ass off to know the company well and sniff out companies with great prospect like Tguan even before Uncle Koon takes a position.

Thank you sir, I have learned more about their acquisition from your article.

http://www.wsj.com/articles/malaysias-1mdb-sent-850-million-to-entity-set-up-to-appear-owned-by-abu-dhabi-wealth-fund-1450333025

Where is the Bugis warrior? Why so scared to sue WSJ? Must sue to clear your name. Berani kerana benar, don't hide under fat mama's skirt.

Over the past Q1FY16 quarter, the RM/USD has gone from 3.82 on 31/7/15 to 4.29 on 31/10/15. It stands at 4.32 today and it is unlikely it will crash as sharply as the past quarter. If the exchange rate remains flat at this level, there should not be anymore marked-to-market derivative loss and that provides a margin of safety to the sustainability of their excellent FYQ1 results.

Thank you for sharing the statistics on the nominal return rate from Bursa. I guess I'm not surprised that returns have deteriorated lately. I think Malaysia is stuck in the middle income trap. Growth was fuelled by mega projects after mega projects funded with debt which are the low hanging fruits. High quality growth through technological innovation is sorely lacking. Why would corporate Malaysia bother with innovation when easy profit can be made through cheap labor from Indon or Bangladesh to work in palm oil plantations and factories.

"The Group made a profit before tax for the quarter ended 30 September 2015 of RM 24 million as compared with the loss before tax of RM 13 million in the preceding year corresponding quarter ended 30 September 2014. This is mainly due to increase in sales turnover and gross profit as the Group managed to clear off cocoa solid stocks."

If the increase revenue is due to clearing off old stock, as suggested by this statement in the report, it suggests that future revenue may not be as high as this quarter's. I have my doubts on the sustainability of GCB's result. On the positive side, the stronger ringgit over the past few days is good for them.

Can one!! Who say cannot hahaha.

Ugly duckling to pretty swan.

Awesome results. Boy I have waited 3 quarters for this. Patience rewarded!!

Awesome! Hevea turned net cash!

The only thing consistent about the market is its ability to surprise. Very little analysts foresaw the subprime crisis, and even less predicted the collapse in oil price. Diversification enables one to absorb the shocks market throw up without wiped out. I buy great companies in industries with shitty prospects for diversification. I hold Yangzijiang, a Chinese shipbuilder, and CNMC Goldmine, gold miner in Kelantan. Both are in shitty crappy industries but both continue to defy the negativity of their respective industries through much better financial results than their peers. Share price will probably remain depressed for extended time but as long as I can sleep well it's OK.

I'm watching the news now and it says that the UN has deemed Anwar's incarceration as illegal.

Thanks for the analysis on this good dividend stock. But I agree with sense maker that its superior numbers are the result of its monopoly in Malaysia. As it is, there is a groundswell of discontent from can makers accusing perstima of over pricing its products. There are talks about ganging up to set up a plant to break its monopolistic hold but so far nothing came out of it after 2 years. Perstima is also protected by the government's anti dumping duties which can change very quickly.

Iran may turn on their taps in year 2016. You might have to hold a bit longer.

KC, thank you for the time spent writing educational articles on the art of investment. I have learned plenty from your work. I don't care whether your stock pick returns the fastest, or whether the market agrees with your assessment of certain companies. What matters is that you have the best intention for the general public. You don't preach fast return, hot stock or speculation, but slow and steady return using the tried and true method of value investing. You have my respect and please keep writing, especially on those that step on other people's toes hahaha.

The criticism against KC is uncalled for. Old man think he is right just because share price has gone up.

Let me be frank. On most occasion, I invest the same way KYY invests. I buy before consistency in earnings can be established hoping that company will continue to perform in the future. I scour the bourse looking for the next big thing, the undiscovered gem, hoping that my discovery will outperform those are proven.

Despite my higher than average return, I will never tell the public to follow my footsteps because I know full well that I assume higher risk to achieve it. My standard advice to new investors is that if they have no time, buy blue chips or index, buy small/medium caps only if they have the dedication to know and monitor the company they buy, and unless they have the stomach for risks, learn FA from KC Chong and be safe.

Speculating about the future can earn you extraordinary returns. But let's not kid ourselves the risk for doing so is as low as buying Public Bank. Even though I speculate on occasion, I think this attack on KC Chong is uncalled for. KC Chong's methodology is still the golden benchmark for protection of capital and safety, and I will recommend his methodology anytime to new investors over my riskier, painstaking strategy. To boast about high return from assuming high risk is unethical, irresponsible and frankly I'm quite disguted with it.