Negative Enterprise Value based on what maths, holland maths?

Please adjust for Hevea and Sunway

34% growth to perpetuity

Sounds like bollocks

They should price forward for next two years - corn/soybean is dirt cheap

At 5 cents per share, at current RM1.85, DY=2.7%

Low dividends

Where did you get the information for the exercise price at RM0.92

The amount of misinformation that goes around here is absurd.

The reason Buffett doesn't give out dividends is simple - there is no other person in the world who can compound returns like he can - so the money is kept for reinvestment because he is simply stating that "I am better than you, bar none", and backed by over 30 years of track record. Mind you, he actually gave out dividends at the start, and found that people are stupid with their money - you may want to check your facts, mate.

The question is, can your Xinghe compound returns like him? Do they have the track record?

So please, do us a favour, don't quote Buffett and compare him to Xinghe.

No offense, but you just aren't very sharp.

The reason Buffett doesn't give out dividends is simple - there is no other person in the world who can compound returns like he can - so the money is kept for reinvestment because he is simply stating that "I am better than you, bar none", and backed by over 30 years of track record. Mind you, he actually gave out dividends at the start, and found that people are stupid with their money - you may want to check your facts, mate.

The question is, can your Xinghe compound returns like him? Do they have the track record?

So please, do us a favour, don't quote Buffett and compare him to Xinghe.

Fima Corp is a better pick. Holding company discount applies here. In the end, it's about opportunity costs - how long are you willing to wait for kfima to realise or approach its value? Yes, it is a value stock, but unlike Buffett, you do not have the capability to buy the whole company up, and reap its returns in the form of dividends or breaking the company up and selling them off, thereby realising value

They had cost overruns/VO's and made a loss. They did a review to find out why. They found discrepancies involving a former employee, which have been fully accounted for in the books. There could be claims as they are still investigating and pursuing the matter. If anything, I think this is a positive...what more do you want...make a loss and just quietly accept it??

Sharpe ratio, this is how to do it - http://www.ehow.com/how_6470845_calculate-risk-adjusted-return.html

One of you guys can come up with an article to teach the rest of these "investors" what risk-adjusted-returns mean and why it matters - http://finance.yahoo.com/news/measure-portfolios-performance-222226627.html

The rest of you can thank me later

This competition needs to be on a risk-adjusted-return basis. Then true performance can be measured.

As it is, 90% of picks are obscure, risky small caps with no moats. Any company that has revenues of less than RM200m can be wiped out easily - if you own an SME you'd know.

This also to eliminate the dimwits with just a one or two picks, or those littered with call options.

Hindsight is 20/20.

Let's put it this way - to the players wanting to join, why don't you choose stocks that have lost >20% in value since 31 Dec 2014, deemed 'undervalued' and then see if you end up winning?

Use closing prices when you enter, and you can enter whenever you like, even 6 months into the year when its certain what the effects of oil price decline, declining RM has on Malaysian companies

Can I make my portfolio private @Tan KW

Some of the investment ideas are starting to pay off...

Interesting picks - perhaps a comparison spreadsheet of the number of times the same counters are selected by participants with performance to-date etc could be produced.

That said, 90% of the stock picks are speculative, small capped companies, none of which a value investor like buffett would touch (I don't include Graham net nets as value investing, since you're investing in companies that are crap at liquidated values, without moats or strong brands or high barriers to entry).

But such are the rules of this game.

Hi KC Chong, according to Greenblatt's formula, do you use only the EY% and ROIC% for the current year, or past years as well? If so, how far back do you go - 3 years, with every year exceeding 10% (per your criteria)?

Hello, I'll join.

AA 20%
Supermax 20%
Hevea 20%
L&G 20%
Sunway 20%

Thank you

As I understand it, there is a captive coal block, and there is the fuel supply agreement. The FSA will cover the full coal requirement regardless of the coal block issue. Please clarify..

Funny..comments disappeared...cheah555 you should contact the IR directly, they ask for name, CDS account, address, phone number if you havent received the annual report...I received mine from citylink

Any update on the coal issue...

Again, instead of addressing the facts, what has happened is the facts have drowned by allegations and noise.
Stick to facts.
1. Fraud? - Notify SC and Bursa.
2. Malay Mail? - its investorcentral.org - an online-only self-proclaimed asking-tough-questions the layman would ask. Total of 5 staff. They have numerous allegations on hundreds of SG and MY counters. Ask any analyst and they will tell you it is impossible to cover so many counters - so the question of course is, who pays and feeds them all this info?
3. RHB report - vis-a-vis the 4 or 5 research houses, RHB has allways been the outlier and valued the stock at a 20% discount to consensus.
4. Lack of contract wins, and depleting order book - Yes, and never denied by the research reports, and therefore factored into valuations
5. Delays in IPP Chattisgarh - Yes, and never denied in the research reports - earnings impacted negatively FY14 and extending to FY15.
6. Ex-MD and Directors selling - look at their ultimate shareholdings - if the company was seriously in trouble, they would hold until a white knight appears (who has 'political ties' with guaranteed contracts) and dump wholesale - selling in many different placements shows you one thing - they are disappointed with the stock performance, and like any human being, they have acted in their self interest (basic Economics, which you lack) and sold to lock in profits and/or invested in other assets with higher returns.

First you go on about the "Malay Mail report, then fraud, then ex-MD's and when each one has been addressed, you bring in your drones.

And when that has passed, you proceed to make an ad hominem attack and call me a newbie with 10 posts - this coming from a person who uses Technical Analysis - laughable, jjust ask any analyst worth his salt.

Please stop drowning the facts with your lines and line of "kah kah kah" your friends are not retarded are they.

Stick to the facts.

Is it a coincidence that so many detractors who've never posted here, are now here? I think not.

And as mentioned, the report was written by investorcentral.org not Malay Mail. Visit their website and you will find their reporting is shoddy, at best - 5 total staff, covering both SG and MY counters and publishing at a furious rate - spray and hope it hits reporting - you can only imagine the quality of the insights.

As mentioned above, please stick to facts. You provided valuable input, but they have all been invalidated by your attempts to drown this thread with your drone so that the facts are not seen.

Please, for the sake of the investment community, either address the facts, or stop commenting

Please address the issue at hand, and not ask your comrade to come here and talk about fraud - these are serious unsubstantiated claims, for which the authorities including the SC and Bursa would have pursued were there an inkling of truth.
Stick to facts

gerry188, RHB has always rated the stock negatively, vis-a-vis the 4 or 5 research houses that cover the stock, with your deep history, surely you know.
Indian IPP - there has been no "fraud" - cleared by the Indian authorities and Bursa's findings found no impropriety.
The issues, before I am branded a 'defender', has been:
1. the "delays" of the power plant firing
2. contract wins.
These cannot be denied. They have also been factored in earlier in the research reports.

gerry188, RHB has always rated the stock negatively, vis-a-vis the 4 or 5 research houses that cover the stock, with your deep history, surely you know.
Indian IPP - there has been no "fraud" - cleared by the Indian authorities and Bursa's findings found no impropriety.
The issues, before I am branded a 'defender', has been:
1. the "delays" of the power plant firing
2. contract wins.
These cannot be denied. They have also been factored in earlier in the research reports.

gerry188 you seem very interested in the stock for someone who doesn't own stock.. the "Malay Mail" report was issued by investorcentral - they have total of 5 staff, based purely online, and issue reports with wild, unsubstantiated claims on numerous Bursa and SG stocks - ie. cheap, tabloid news. In fact you could put in the claim that they're paid by 'activist' investors, or competitors to publish these reports.
So question is, is this a case of sour grapes... perhaps you're a recent ex-employee with lots of inside information....?

interesting gerry188, you seem to have a lot of information...can share source/email

First justify the yearly profit contributions, assuming you're an investment banker this shouldn't be too hard. With calculations and assumptions.

Here - http://klse.i3investor.com/blogs/kenangaresearch/49420.jsp Kenanga states:

"Assuming a 80:20 equity:debt ratio; cost of debt of 6% and IRR of 15% (assumed based on the historical average rates guided by other marginal projects), we believe UZMA’s 30% stake will yield accretive earnings
of RM5.2m in FY15."

Are analysts just dumb drones who enter numbers into templates blindly and have no mathematical understanding of financial models

On the report here - http://klse.i3investor.com/blogs/hleresearch/49393.jsp it states:

"With assumptions of i) capex of US$100m, ii) project IRR of 20%, iii) project stake of 30%, we estimate that the RSC will contribute ~RM14m per annum to Uzma’s bottom line upon production."

How do you justify the per year contributio? It seem too generous compared to prevailing O&G project returns - IRR/NPV/DCF calculations

the gravy train will leave soon....