有感而發，人說中國連牛奶都生產不了，還想說做晶片呢。

八十年末，中國追隨台灣的步伐做「中文系統」，九十年代初就做OCR。當年看他們DEMO，將印在報紙上的文章用掃描器掃描，電腦自動辨認文字，但一半的字是錯認的。但搞了搞就沒有聲氣了。還有，偶而，你會看到「公裏」、于先生變成「於先生」等奇怪的問題，其實就是中文系統的「簡轉繁」，「繁轉簡」搞不定。

人家都搞到AI生成了，好心！

從公務員減薪、公安局被割電到如今的稅務局欠薪，接下來的趨勢已然定型。

習將公安國安打散重組，一般預料將會導致政府職能更加混亂。

中國經濟已經衰退，但中國人大部份以為只是需求疲弱。其實真正的原因，是疫情期間要遷廠不容易。疫情一過，外資馬上把廠搬走。而美國的入口數據並沒有減少就明確顯示，需求已經轉向東南亞各國了。

當中要注意的是，我國去年成長八點七，與越南、泰國等並駕其驅。因此，我國已經與中國形成競爭對手的態勢明顯，只是過去以為不要緊而已。

以股論股，FAVCO，手套股們和建商們都與中國國營與私營企業直接競爭，因此中國的衰弱長期而言對我國是有好處的。

looks like tough competition. Good luck to those who got it.

很多人遊大陸，都是流於表面，都只在旅遊區或商業區。你跑到內陸一些的地方，二、三、四線城市，就可以看到野蠻是怎樣的。

而在大陸這樣沒有效率的市場，生活是非常辛苦的。一些人誤以為大陸生產力強，其實是誤解。他們工廠可以開二十四小時，所以攤分了fixed cost才能夠產品便宜。又不用R & D，市場的基數又大。比如說我查大陸恆源新聞的時候就發現，他們噴出的污染物把附近的谷物都染黑了。這樣做事，自然是營運成本低廉，但造成的社會代價是巨大的。

很多年以前，在香港街頭發生了一起小男孩在鬧市大便的事情。當時我非常奇怪，為什麼大陸人可以接受小孩在最熱鬧的街道，最引人注目的地點大便。

稍為查一下就知道，在大陸新聞報導是一個小女孩在路邊小解，也故意省略小男孩母親「執屎」的照片，因此大陸人對該新聞的觀感有所不同。

我想說的是，一部份大陸人深明大義，只是說真話的風險太大。一部份是沒有探究新聞背後的真相，任由偏頗的編採得逞，因而觀感不同。而最後一部份，就是真心相信中國人的悲劇都是因為不夠兇，不夠壞才會如此。

i3lurker, yes, poor ikan bilis. But we have people offer fair advice all the time in the forum. That's good enough.

Ikan bilis have limited capital, so naturally they have the tendency to achieve high returns to get value for their time. As they grow older, when they have more money, their preference will change towards normal returns and safer investment, the lesson is, survive, ikan bilis! survive!

(Game theory exercise, sort of)

sslee, the conditions for the war to end,

1, Russia retreat to the border prior to 24 Feb 2022. Crimea to be negotiated.
2, war criminals to be punished.
3, compensation.
4, other nations to guarantee no more war and safety (not important though, after this Russia will be weak)

If Putin "scarifies" himself/surrender TODAY, order the troops back to border. Then the war is ended. But dictator scarifies everything and everybody except themself. So, the war cannot be ended today SOLELY because Putin doesn't want to be judged/punished, and NOT BECAUSE OF U.S.A doesn't want the war to end.

(If the world allow invasion without consequences, then all the small countries will be at risk. )
(and if everybody fears invasion, world economy will be deeply impact. )

So, the next best thing to do is, either to install more pain on Russia until it collapse and/or surrender, and/or willing to negotiate an acceptable treaty.

The facts are Russia is running at 60% budget deficit and no country can tahan that. China also in a mess and if China wants to support financially, China will collapse too.

The facts are Russia mobilized 200k troops initially. Added 300k. Now reported death is 140k. plus wounded, to say at least 200k. Ukaine has 1m troops already. (Just short of ammo.)

The facts are Russia is shooting buildings and utilities but not enemy troops, on the other hand Ukrainian are shooting russian military.

The West/Ukraine strategy is simple, give Russian hell until they cannot tahan.

The sooner Russian surrender/retreat, then the better terms they get.

Still the three conditions:
1. Russian troops back to border. (not negotiable)
2. Compensation to Ukraine in exchange for uplift of sanction. (the sooner they negotiated, the more favourable the terms will be)
3. War criminals punishment (actually this can be negotiated too, otherwise the war will last for many more years because US needs to push to Moscow to get Putin! Just let Putin go and end the war).

sslee, you are welcomed!

foong, 是的。在中國報評論區有一TK LIM，竟然以為大躍進是好東西，中國有進步就說大躍進。真是好笑又悲哀！

sslee, in short, US war is never after another countries' land, its for justice, despite justice sometimes misinterpreted + poor execution.

but russian war, Taiwan invasion is after their land.

(then sslees may say US want to sell weapons. Then we go blah blah blah again. Check the global weapon trade amount is tiny. and often is free)

(then sslees may say US made the coronavirus in the fort D lab. Actually they make up the story based on a maintenance notice. The maintenance notice says the boiler not functioning well so have to shut down for maintenance. No proof or link whatsoever)

(then sslees may say US bring the virus to China through the military sport meet. Actually they make up the story based on 3 US participants had Malaria, whom had been treated and recovered. )

blah blah blah......until sslees say China is playing a big chess board game, we do not understand de lah. lol

sorry, 三征高麗（高句麗），不是兩次

sslee, this is exactly the problem of pro-china people. When they cannot answer a question, they raised another (challenge). Then they cannot answer again, they raised another question. Eventually they always resort to "大國博奕" and "下一盤大棋". Actually their arguments doesn't stand. But we still continue to engage to make sure the truth is reviewed.

80% of so-called US induced war of what the China is claiming is actually UN peace keeping action. On the other hand, you know China's longest time without any war is actually the past 40 years in its entire history of 3000 years (5000 years is not recognised because it includes myths and legends of 黃帝唐堯禹舜夏....）so, do not be naive to think China will not invade any countries in foreseeable future.

(The pro-China people claims China is a peace-loving nation that it never invade any countries. Actually its far from the truth. China invades Korea (that time call 高句麗）twice if we exclude the Korean War in the 50s), invades Japan twice, and Vietnam during the QianLong time, and again in 79-80。These are the failures. The successful one of course are XinJiang and Tibet）

There were mistakes made during war time and often those are exposed as those who committed the crime were brought into justice, instead of cover up. Moreover, in ancient time we do not have the same standard as today's civilisation. The China media like to accuse Canadian were killing all the indigenous and Spanish killing all the maya (etc) were mistakes they made in the past and people trying to correct them. In contrary, the chinese authority is trying to commit those mistake today.

你知道以前中國的小說裡面，魯智深被人得罪了就殺人全家，楊志跟人家吵了兩句就砍了人家的頭。你有見過鬼佬拿這些來形容中國人的殘暴嗎？沒有吧！

foong, 謝謝！也感謝您的努力。

我們國人必須有所警惕！以台灣為例！台灣自古以來都不屬於中國。後來西班牙人來了。後來荷蘭人來了。後又被國姓爺趕走了。在清朝時候被佔領了。因此，台灣應被視為像新加坡、菲律賓一般的另外一個國家，只不過有一段很短的時間被施朗搞定了。

如今中共派遣五毛假裝是我國國人，誤導輿論，還說我國華人是二等公民、三等公民，目的不外乎分化我們，仇視我國的民主。 因此，在輿論中我國華人必須義正嚴詞，將謊言拆穿，免得將來淪為頓巴斯！

須知，如今「九段線」已經畫到砂州海岸南端，就是沙砂汶石油產區都在裡面。司馬昭之心，路人皆見。當年日本被封鎖而南下侵略，前車之鑒，不可不慎！

如果我們都不保護自己的權利，國際社會也不會挺我們。

sslee，我不知道你是不是說我沒腦子，但我是在讚揚你的品格啊。

我一位父執輩很喜歡習，寫了一本書《習新時代》云云，還去領館拿了贊助。但是因為去中國旅遊手續麻煩，就馬上呱呱叫了。

sslee應該是真心熱愛祖國的，否則不會那麼支持HY的。那個什麼董事長不就是人大代表嗎？妥妥的是當權派啊！我是讚揚你心口一致，坐言起行，正人君子啊！

其實中國今時今日的處境，外國廠搬得七七八八，公務員減薪，外貿七零八落。想要搞房地產和基建翻身，但房地產與基建都已經過剩了啊！

人們說一切只是開始，接下來可以預見的是由於出生人口減少一半帶來的影響。所以幼兒園已經在倒閉，中小學要減一半，大學要減一半。看到這一點，不知道又有多少小粉紅會醒呢？

如果今上依舊在位到2036，繼續來，那就是徹底朝鮮化了。那到時又有多少小粉紅會醒呢？

Foong, 其實很多這些年紀較大的，尤其是一些可能小時候中文讀不好的人，再加上沒有能力辨別同溫層發來的假訊息，特別容易成為小粉紅。但是也不必惱怒，他們遲早會醒的。

我一個親戚從小只懂英文，去歐洲留學後，一句中文都不會說就去大陸當總裁。上海一解封就立刻回來了，以後再也不去中國了。其實，小粉紅被鐵槌敲了後不醒，我還是少見。

我特別要贊揚兩位出色的小粉紅，一是官有緣老先生，一位就是SSLEE了。官有緣在星泉鞋材上市後去鞋廠參觀，當時特別有兩個接待的counter特別引人注目（一般只有一個接待處吧）。當時官有緣老先生還特別盛讚星泉鞋材建有四千員工的宿舍。隨著星泉的股價插水，官有緣老先生還力保星泉，說做賬的是他老表。直到星泉下市前夕，官有緣先生還大力扯購星泉股票，真是老當益壯啊。直至今日，官有緣老先生依舊對挺中不依不繞。

第二位就是這位sslee了。中國煉油廠來馬收購（我曾提出善意警告），但sslee竟在業績暴跌之後向該公司維權。其實在維權過程中，就讓sslee再努力一把，到他真的了解了煉油廠的貓膩之後！如果他依然挺中，那才是真正的小粉紅，而不僅僅是幻想著依附霸權一同割韭菜。

sslee, if Ukraine like to join NATO, its just like hiring security guard (actually more like a self-defence team formed among the neighborhood). NATO is a defence mechanism.

The robbers cannot stand the victim hiring security guard. So they rob again......

Shame on those stand with the robbers.

中方的「九段線」已經畫到砂拉越最南端的海岸，也就是包括所有沙砂汶的石油產區了。

幸而中國之兵不強，還有美國帶著整個國際社會替我國以及鄰國撐腰。

量一量中國在南沙搞的填海島，離中國最南的海南島一千公里，離我國最北的外海post只有幾十公里，離沙巴海岸線只有約三百公里，離馬尼拉約四百公里。我也很開心知道我國在該區有駐防，別讓他們如入無人之境。

俄烏戰爭打到今天，已是涇渭分明！俄羅斯已是明日黃花，剩下的疑問只是普京會不會試著毀滅世界大家一起死。（當然俄沒有能力毀滅世界）。

中方到底支持不支持俄方好呢？正常人的思維都是不要支持的好。但對於愚蠢、衝動的統治者卻不一樣，不能以常理度之。（就好像一些輸到底褲都脫掉的股民一樣，還天天寫文章以為自己是股神，不能以常理度之啊！）

明知要輸，卻依然下更大的注碼，那是賭徒性格！只是對手是全世界經濟總量的百份之六十！你以為有錢，對手比你有錢很多倍。

如果你認識習近平，就知道他並沒有領導者任何的睿智，反而跟他的第一份挑夫工作很像。挑百斤十里不換肩固然是「 硬朗」，但為什麼要不換肩呢？廣東人講「唔識轉膊」，就是「死牛一邊頸」的意思。所以，合理的預期是習近平會繼續下注，直到威脅到他生命的前一刻停止。

面對特朗普，習在最後一刻妥協了，卻面對更大的代價。所謂動態清零毫不動搖，他也動搖了。所以，俄烏戰爭他也會死撐一段日子，直到撐不下去。天佑中華的話，也許就迎來改革開放2.0了。

sslee, despite what's in the passage is right, it's still a fake news.

只有那些不理對錯、只顧護主邀功的咖喱菲，才不願意正面回應問題。

一方面，沒有「收錢」大晒呀！如果不收錢可以當首相，相信很多人會願意咯。人家（即使對方是國盟）提出嚴肅的問題，你就要嚴肅的回應對手，這才是兩線制的基石，才是善政的基礎。

人家提出的問題是沒有相關專業技能不能當顧問，是一個很好的point！以及萬一因為這樣導致了政策錯誤，誰來埋單？（有本事就說安華來埋單下台，以顯示誠信與擔當，醬我講你厲害！）

不願意動腦筋，不理會對錯，這樣對國家好嗎？

要幫助國家經濟，其實不止要對非法萬字say no，還可以量力而為不買津貼商品（比如津貼雞蛋、津貼汽油而用正價買入），不用盒子看影片，不買走私貨品（比如啤酒、香煙）.....這樣帶來的經濟好處是更多的（整體而言）。

I was wondering why Asiapac's QRs has not been up to expectation. The company should make 30-60 million per year. The rental income is about right, but why profit so low.

current asset
Inventories - Property development costs 201,970 (000)
is that really current asset?

Say if we take that out, then its negative working capital.

We should be cautious actually the company need a lot of $$$$ to complete its projects, despite good sales progress.

I don't think it makes the company a bad one, but RM1.00 or RM0.50 target may be too optimistic.

I dreamed of getting large portion of shares and push to sell Imago then return money to investors. If its really worth RM1.00, then someone else could have done it already. Too naive sometimes.

The black swan not so black is, inflation still stubborn so rates could go even higher than 5%.

Hello, Mr Tan, here are my entries.

QL 10%
BJFOOD 10%
KOSSAN 10%
GCB 10%
ECOWORLD 10%
MAYBANK 10%
MI 10%
PPB 10%
FAVCO 10%
HSPLANT 10%

Thanks in advance.

don't know. miss him too.

next year outlook not good. having a quiet christmas. hopefully cny better. after cny "cham lor".

next year may withdraw many subsidies to lessen budget deficit. sadly looks like they aim big corporations.

ok bos.

Democracy cannot eat. But without democracy you are a slave. You pay your taxes, limited healthcare, limited education etc.

31 dec is saturday woh.

昨天去GSC，人潮似乎不錯，雖然跟以往差很多。最近轉了FFM，才發現另外幾家根本是廢的。還是糖王厲害！發現Vitasoy有小包裝的，在GSC還賣得不錯。有錢可以買一些來收。

不滿意！賣光了，都是聚焦在有的沒的，現在講幾好幾好，到時又是零利潤。

no good, Ewint -95m, haiya. Maybe 30m NP for mother blessed already

looks so ugly. omg. how is that even possible!! -95m!!!

still no result? maybe after hour....

教大家如何成為百萬富翁是吧？可前提是......

得有一個億來輸呀！

Normally thursday......best of luck!!

Wah, I checked little bit, Calvin 老點

Up at double speed. And most who wants to sell probably have sold.

Very simple answer: There are 60,000 engineers in TSMC all master and above, and Taiwan is only sending 1000 to US. Secondly, US is roughly 4 years behind in every categories.

這些都不是重點，重點是團結政府懂不懂得怎麼做工。如果團結政府依舊眼高手低，那樣結果只會是再次被推翻。事關這才是民主的真諦！

從安華依舊走回老路--找人吵架，不樂觀呀！

Just pass by, let's be polite.

Its a simple story:

1. The 3 reputable directors immediately resigned after HY China took over. If its not a piggy bank why would they resigned, together?
2. The China mother is the champion of the universe in Pollution. If it is not because of their problem, why would they came here?
3. They got 1.6b loan last time, then they start reporting losses. Now they got 5b, so we all know the (remaining of the) story loh.

如果這是對的（靠貸款維生），這盤生意有著內在的硬傷，幾乎是個零和遊戲？？

OTB還是太嫰，還小鮮肉呢！呵呵！

我看了看，也不知對不對，猜的。畢竟警告也過去那麼多年了。

幾年前財報很漂亮，拿了十六億貸款就不同了。

現在拿了五十個億喎，發達咯。

臭不要臉的人大代表。

2-3 weeks QR out, EWINT's earning should be normalised, hope ECOWORLD NP goes back to 60m.

Came across this company, not bad but no dividend. They treat the company as their own. Many years later they takeover the company at cheap price.

If no dividend why bonus issue? Sayang duit saja.

RM1.15 coming.

Don't know to believe izoklse2022 or not. Previously he said GPS got 4x over seats woh where GPS only contended for 31 seats.

Anyway, if UMNO expels few MPs, still possible for Muyhiddin to form government.

想學英文或是其他目的，倒是可以看看！

這傢伙的Marketing有點料到，當初他說捐三千萬宿舍，還以為他真的有料到，結果......

這傢伙有認知障礙，而且是兩個很大的問題：一是對事實的否定，猶如活在虛幻當中，二是推理能力奇差無比。（想像力倒是豐富！）

他股票輸到阿媽都唔認得！想在股市賺錢，首先就是別看他的文章。