Posted by chyokh > 2014-11-20 14:53 | Report Abuse

Tan TB is probably the best cash manager in the world. He holds 50% in cash and says he has nothing to buy for years and years. I also can do the same thing... put my cash in FD and pretend that shares are overvalued....nothing to buy.

Posted by MG9231 > 2014-11-20 15:16 | Report Abuse

Chyokh, you said this infront of him he gets annoyed and he will bombard you with all sorts of petty issues with the support of his loyal supporers.
In future, if any supporters yell at you while you questions him regarding cash conservation, please tell his supporters back "if treated TTB as god, must well make a "Patong of TTB" and bring back home to pray"

Posted by MG9231 > 2014-11-20 15:17 | Report Abuse

Must organised the sharehoders to kick out this TTB and wind up his fund and make him faceless.

Posted by MG9231 > 2014-11-20 19:34 | Report Abuse

All these happens is due to there are no independent third parties strong enough to monitor his management that he can easily abuse the shareholders money in ICAP.

Posted by MG9231 > 2014-11-20 20:38 | Report Abuse

shareholders must safeguard their own interest by thinking independently. Don't be mislead end by TTB who owns a few shares yet drawing around $7m fees in total, $700,000 advertising fees, $91,000 accounts fee( fee pieces of contract notes).
All the above figures can be obtained from 2014 Annual report.
For advertising fees in 2013 Annual Report, it was merely $20,000

Posted by MG9231 > 2014-11-20 20:39 | Report Abuse

For a fund house like icap, what sort of advertising required? Looking for employees?
No, he said he runs the firm himself and outsource the clerical work to others
What objective does he gain to spent such huge advertising fees?

Posted by chyokh > 2014-11-20 21:26 | Report Abuse

He likes to go all around Malaysia and Australia to have seminars in hotels to tell his supporters why the world's stock markets are overvalued and that's why he is doing absolutely nothing...he is not buying anything while the world's stock markets are rallying for the past few years. Somebody got to pay for all these hotels and food. I sold all my icap shares when I read this sentence in their annual report .."your fund did not buy any shares for the past financial year"...what?? we pay the fund manager millions to do nothing for one year. His must be the best job in the world.

Posted by MG9231 > 2014-11-20 21:36 | Report Abuse

In that case, I guess the cost of his current tour to Malaysia with his staff to garnish support of his personal agenda in the coming adjourned Icap AGM also may partly financed by icap and hide in the advertising expense that will be appeared in 2015 Annual Report.

Posted by MG9231 > 2014-11-20 21:37 | Report Abuse

Perhaps he should enlighten us in the coming adjourned AGM to clear our doubt.

Posted by ks55 > 2014-11-20 23:59 | Report Abuse

Biggest joke ever encounter in corporate world!
AGM man, this is AGM - once a year affair. Please treat it with utmost respect.
What the hell you dare say shareholder abusing their voting rights? If the Director not voted in, he is out!
If you think you can get sufficient vote, then table EGM.
Basic law also don't know. Not fit to be CEO !!

Posted by Kevin Wong > 2014-11-21 15:06 | Report Abuse

The danger and folly of trying to time bearr...Concentrate on individual stocks instead of trying to outsmart the whole mart!

Posted by MG9231 > 2014-11-21 15:28 | Report Abuse

If a fund manager's expertise is to collect cash from fundholders and keep them in the bank while waiting for next ecomonic crisi, what sort of expertise of fund mangement can he demonstrate?

Posted by Kevin Wong > 2014-11-21 15:47 | Report Abuse

A investor job is to invest, while a speculator job is to - forecast mart's tops/bottoms!
I respect TTB, as his investment record...much-much better than mine!

Posted by ks55 > 2014-11-21 19:43 | Report Abuse

CEO earning gaji buta lah

Posted by MG9231 > 2014-11-21 21:00 | Report Abuse

CEO not just get big Gaji Buta, but also abused the conduct of 2014 AGM. It ended shareholders have to pay extra-cost organizing Adjourned AGM 2014 for a minute resolution.

Posted by chyokh > 2014-11-22 10:36 | Report Abuse

CEO should focus on investing to increase the NAV of the fund to benefit shareholders instead of worrying about "ulterior motives" of the 11% of shareholders which is a waste of time and is of no benefit to the majority 89%. The CEO is paid to make investment decisions and not to initiate complex corporate manoeuvres. Just do what you are paid to do.

Posted by MG9231 > 2014-11-22 17:50 | Report Abuse

Why he worry the ulterior motives others if he doesn't has one.

Posted by ks55 > 2014-11-22 22:40 | Report Abuse

CEO is not holding a single unit. This prove that he himself just want to get easy money from other people's money. Makan Gaji buta ma...

In that case, vote him out also won't hurt him at all. In fact it is extremely easy to ask him to get lost.

Posted by MG9231 > 2014-11-23 07:43 | Report Abuse

The 1st step to strip his power is to vote against Tunku Abdul Aziz Tunku Ibrahim from being elected as director in this coming adjourned AGM at Wisma MCA on 30-11-2014. 9am.(this coming Sunday)
Let other directors not his choice to be elected in near future.

Posted by MG9231 > 2014-11-23 07:48 | Report Abuse

The board of directors should lead the company, not the other way where fund manager leads the board of directors. Ultimately, who is going to accountable to shareowners?
Further, fund manager can be fired if sleep on his job or underperformed in certain given duration.