Sigh...no wonder most of the retailers lose money in stock market.

The Koay family keep acquiring its own shares before and after the Q2'24 quarterly results announcement...the insiders are buying happily and cheaply from the retailers.

The price now is attractive...having said that, the big drop of stock price today should trigger another round of force-selling from the major shareholder tomorrow. Then, more round of force-selling will be triggered...this is a so-called vicious cycle. At one point, it's stock price will become so attractive that people come in to pick up, and the drop will cease.

<RM3 per share could be a good entry price.
The recovery performance is expected in 2H 2024. UWC is one of the few tech stocks that is still at its bottom price, thus I think it is safe to accumulate now bcos the downside is limited, and the upside can be greatly rewarded.
The guidance given by management for 2H'24 is good and is aligned with the global semiconductor upcycle :)

Management claimed the recovery will be in 2H 2024...i think many tech companies' management made the same claim. The 2H 2024 should be a good period for Bursa's tech companies.

ECA is one tech stock that hasn't really move :)
Maybe this is an opportunity to collect...
Its last 2 quarters' financial results were poor, just like many other tech stocks. But it gave a bright future prospects for its business in 2H 2024, also just like other tech stocks. If other tech stocks can move "in advance" now before 2H'24 (realization of good results), why not ECA :)?

Aemulus still making loss in Jan-Mar'24 quarter, albeit the loss has narrowed YoY and QoQ.
Let's see how market reacts to this "improved" results tomorrow.

The net profit in Q1 FY24 was indeed boosted by the forex gain. But, we should also see MI's revenue in this quarter. It achieved the historical highest revenue in Q1, which is the seasonally weaker quarter. It is also the 4th highest revenue quarter since listing. Thus, MI's performance in this quarter is good.

Pertaining to the "conservative" prospect given in this quarterly report, i am kind of surprised and puzzled. This is because, according to the FY23 annual report, published recently, the management gave a very positive guidance for 2024 :" remains aggressively optimistic about the Group's prospect for the FY24 and beyond". The prospect can't change from "aggressively optimistic" to "cautiously conservative" within a month. There is clearly a misalignment, and why MI management wanted to give the misaligned prospect in 2 differ reports published within a month? We can probably clarify this doubt wit MI management during the coming AGM.

In most of the tech stocks' quarterly reports published so far, the guidance given for 2024 have been positive, can refer to Dufu, Vitrox, & etc. Thus, I still believe 2024 is the recovery year and the onset of semiconductor upcycle :)

Stock investment is forward-looking, not backward-looking, I suppose everyone in market long enough should have no doubt on this statement. It is very clear that 2024 is a recovery year for the semiconductor industry, almost all quarterly reports published by Bursa's technology companies so far have given such positive guidance. In addition, 2H 2024 will be better than 1H 2024. Therefore, present time is the beginning of the boom, as Dufu's management has claimed: it is the onset of a semiconductor upcycle. Isn't this very clear where we investor should put our bet :) ?

Dufu's Q1'24 quarterly result was indeed poor. But, the management gave a very positive guidance for Q2'24 and the remainder of year 2024. Let's be reminded that Dufu management team is a group of honest people, when they gave positive guidance, good things will happen :)

Let's not to be swayed by rumors that HDD demand will be replaced by SSD in future. In Dufu's FY23 annual report, we can read that: "an article by Forbes titled C2Q 2023 Hard Disk Drive Industry dated 14 August 2023, Tom Coughlin projects a 900% increase in HDD capacity shipments from 2020 to 2028". The rate of increase is especially high from year 2024 to 2028.

Fantastic Q4'23 financial results.
Revenue achieved historical highest. If exclude the huge inventory written down, D&O's PATAMI and EPS in this quarter are also the historical highest!
The prospect given by the management is also positive, the guidance for 2024 is double-digit growth in revenue.
If these great results and prospects cannot propel its stock price, what can? :)

Mi's core profit is higher QoQ if exclude the huge forex loss.

Kobay's stock price has fallen below its NTA liao, this is seldom in tech stocks..probably its value has surfaced.

In addition, Serbak's accounting fraud has scared the market. I keep hearing Cypark is Serbak no2 in this forum. I believe both are having different issues in this case.

The company itself does have some problems to trigger selldown to happen such as:
I) the completion date of their projects is delayed.
ii) the debt level is high
iii) the directors pledged all their shares.

The selldown was triggered by an incident on 17th, it was accelerated by another incident on 23rd, and then short-sellers joined in, more selldown happened, directors met margin call and disposed of their shares, selldown deepen, more fear from retailers, more profit for short-sellers, further selldown happened and so on and so forth. It is a typical vicious cycle.

The selldown might have triggered as early as 17th May when the directors disposed of a relatively smaller amount of their shares (could be due to a margin call too). Since 24th May, the selldown accelerated probably due to the bond incident that happened on 23th May. I suppose that's why the CEO called in the RAM officer to reaffirm its rating on the 25th, and the announcement was made on the 27th. Otherwise, why would such an announcement related to RAM rating be published in the midst of selldown.
Make sense to u ?

Serbak's accounting fraud was found and reported when its annual audit report was prepared. Serbak could not publish its annual report on time due to an accounting fraud issue with KPMG, remember?

Hi Klse2022, yes, I am quite sure the reason doesn't relate to accounting fraud bcos there is a period of time for a company to be subject to a financial audit. For Cypark whose financial period ends in Oct, their last audit should fall between Nov'21 to Feb'22 before the FY21 annual report was published.
For quarterly reports being published, they are not being audited. That's why u can see Cypark's Q1 FY22 report with the title says: "Unaudited" Condensed Consolidated Statements of Comprehensive Income For the First Quarter ended 31 January 2022

Let's study what was the reason for the selling pressure and disposal of shares from directors?
- it was not a debt payment issue as RAM has reaffirmed its AA3 rating.
- it was not LSS2 or WTE project issues as the management has explained the reasons for the delay and these projects will commence operation in Sept 2022.
- it could not be audit discrepancy issue as it's audited FY21 annual report just published in Feb 2022, and there is no financial audit going on in Cypark now.

The BusyWeekly article (dated 28th May) pointed out that the possible reason was :
On 23 May, there was an "extraordinary resolution notice" issued to bondholders. The changes include modifications to the transaction terms and payment structure. BusyWeekly opines that this could be the reason for triggering selling pressure on the next day, i.e. 24th May.

The timing makes sense as the above was what happened one day before the selling pressure started on 24th. Busyweekly also commented that, subsequently, the short-sellers came in to worsen the selling pressure and then directors might face margin call and had to dispose of some of their shares.

What do you all think?

If there is a problem happening in Cypark and directors do not announce it to the public but disposed of their shareholdings, isn't that considered "insider trading"?

It is weird that EPF disposed of 5mil shares before the 2 directors did. The 5mil shares are a lot as Cypark's daily transaction volume is less than that on normal day.
I noticed all the Cypark shares owned by the two directors are in the pledged account. Is it possible that the two directors foresaw they would face a margin call after the drastic drop on 24th and took the initiative to dispose before force selling comes? This is possible but not likely..

Maybe when commissioning its WTE plant, issues were found and the commencement of the new plant needs to be delayed again..

I think the drop cannot be due to accounting fraud bcos audited FY21 annual report just came out in Feb 2022.

Post removed.Why?

If Trump wins the coming election, more tariff on China is possible bcos he will has nothing to lose. But, before Nov'20 election, I don't think so. He will continue to attack China, especially verbally, from now till election day bcos he knows most American love to hear that. Anti-China move will win votes for him.

More tariff on China ? I don't think Trump dares to do so from now till Nov'20 election.
The reason is US is struggling to recover from economic downturn. What they need to do is to think of many ways to boost their economic activity and employment. Imposing further tariff on China goods will go opposite direction.

Sapnrg is indeed a poorly run company. But, its stock price is so low now that it justifies to buy.
One small positive incident will boost its current depressed stock price.

Sapnrg's hope and support is it has PNB as its major shareholder.
In Mar'20 and Apr'20, the CEO and PNB still bought back Sapnrg stock even they have foreseen poor Q4 FY20 quarterly results.

Poor quarterly result but stock price didn't drop showed that the poor result was priced in.
I think Sapnrg's provision for impairments is too much as they even do impairment for the anticipated prolonged recovery of oil price...is that necessary ?
I think the management tried to do kitchen-sinking in this last quarter of FY20, so that FY21 results can look better.

AmInvest analyst is a joker. In Dec'19, he/she gave tp of 50sen per share in Dec'19; and then revised it down to 4sen per share in Apr'20.

Does the fundamental of a company can change by that much within 4-months timeframe ? Isn't this a joke ?

Add SAPNRG at 10sen today.
The fight between Russia and Saudi has ended. This means there is no supply related concern for crude oil now. What left is the demand concern, which has been impacted by Covid-19 pandemic. We can see that European countries are gradually opening up their economy. US also plans to do so in May. This means the demand for oil will come back, so as the crude oil price.

I cannot predict the crude oil price in future. But, I can be quite sure the oil price one to two months from now will be higher than today, so as the stock price of Sapura.

This article came out yesterday but Bursa has rebounded since end Mar'20, and Cold Eyes still asking us to wait for the bottom ? The bottom already passed lar.

This Coronavirus scare is differ from 2008 financial crisis that needs longer time to pass. When Europe and US's number of confirmed case per day starts to reduce, the stock market starts to recover. The market does not need to wait till vaccine is found or all the dusts settled. Remember, stock market is always forward-looking.

Nowadays, many do not look at the performance of Dow Jones on last trading day that much. What many look at is the performance of the future Dow Jones when Bursa opens on Monday.
The future will give hint weather Dow Jones will trade higher or lower in the night, and therefor become the reference of many Bursa investors.
Just refer to last 2 weeks' future Dow Jones and Bursa's movement, u would know what I mean above.

Many many stocks are cheap now, not only Genting. The market will recover sooner or later. The Covid-19 won't be there for very long. The investors just have to get through this difficult period. There is definite light in the end of the tunnel.

Sapure normally has impairment write-off in last Q4.
The coming Q4 FY20 will see another round of impairment write-off ? or we will see reversal in impairment write-off since more projects are kicked off from Feb'2019 to Jan'2020 and higher utilisation of PPE, and hence reversal in PPE impairments ?

Only insiders know. But the price now is really really low, treating SAPNRG stock like rubbish. So, just add lar.

Unbelievably low price.
The CEO and major shareholder bought at 21.5sen and 17.5sen.
I close eyes and add :p

Market does not give high PE to SAM just like to other technology stocks, and I wonder why ?
Maybe the reason is it has aerospace division, apart from semiconductor division. Market mainly appreciates semiconductor division as it will ride on 5G wave ?

SAM is indeed selling at cheap valuation based on its earnings capability.

Tun played with fire, and is burned by fire now.
Tun resigned from PM7, and then worked desperately to become PM8 last night till this morning, but failed.

PH won in last GE mainly due to Tun, and lost the government today mainly due to Tun too. So is Tun a hero or a zero ??

Poor results due to project claims and variation orders. I think the management did kitchen-sinking in this quarter as all the bad things dump together into this quarter's account.
What can hope is its stock price has plunged so much in past 1 year and has taken into account this quarter's poor results.

In next quarter, almost sure Muhibbah will back to profitability, so just has to endure for next 3 months till Jan-Mar'20 quarterly result to publish..

ABMB's earnings has normalised to 8+sen level. At this EPS level, its stock price should back to ~RM4 level.
The subsequent quarters should see its earnings at about current level. ABMB is obviously undervalued. If not due to present panic sentiment, ABMB's stock price should surge this afternoon. Anyway, it is a matter of sooner or later. Holding ABMB needs not worry about current panic selling.

Good results !
If I take the last 4 quarters to do valuation, FIHB is selling at merely 4x PE multiple and 0.28 P/BV.
How come market gives such low valuation to FIHB ?? I know it is not in popular industry, but its valuation is still too unreasonable.

Great results !
The profit in this quarter is at historical high.

My calculation shows the min fair value is RM2.59 per share, and that is the minimum fair value.
The higher fair value would depend on what PE multiple the market is willing to give to Kobay.

Kobay is in the same industry, i.e. precision component, tooling and metal fabrication, as UWC and FPGroup. If one looks at their PE multiple and compare with Kobay's, u can see how much Kobay can go up in stock price if it can get PE multiple closer to its peers.

Great results as expected. Management has given guidance that this quarter would see good earnings.
In next quarter, the Phase 1 expansion of Suzhou plant should start its contribution, but China operation may be impacted by Covid-19 and delay in work resumption. The longer term prospect for MPI remains good --> Hold MPI.

As expected, EPS has improved QoQ but lower YoY.
Elsoft would perform better in year 2020 with the new 5G phones coming up, more LED flash lights are needed. Year 2019 was a bad year for semiconductor industry and it has passed.

I suppose year 2020 will be a better year for Kobay as semiconductor industry will perform better in 2020 than 2019, with the exception in Q1'20 which may be dragged down by Covid-19 epidemic.

Kobay's result is a stream in the desert, after portfolio being beaten down by black swans in past 2 months.

Fantastic earnings. In fact, last quarter would have shown similarly good earnings result if not dragged down by its property segment's one-off loss.

Interesting and informative article.

Notion was actually made loss in last quarter, the EPS was boosted by insurance claims income and reversal of inventories written down.
In Oct-Dec'19 quarter, its EPS may just be slight positive or even at loss again..

Its current stock price has "overrun" its potential improvement from EMS and Automotive segments by a lot. It is not wise to chase high at current price level. I think shareholder should dispose to take profit.

What i am trying to say is Notion's earnings has good potential to improve in FY20 and FY21 (as what management has guided) but its stock price has risen more than it's potential earnings improvement.

Sorry to pour cold water. The above are my sincere opinion after studying Notion's financial reports.