Posted by cheongcy > 2015-02-10 21:12 | Report Abuse

I had just done my own research on this company too. Link as below:

https://drive.google.com/file/d/0By4ITWART_ZUMjFldGw4aElfUHM/view?pli=1

Posted by kcchongnz > 2015-02-10 22:03 | Report Abuse

Cheongcy,

Great analysis of yours. Hope we can exchange ideas.

Posted by YiStock > 2015-02-10 22:32 | Report Abuse

Hard to come by excellent company like coastal.

Posted by cheongcy > 2015-02-10 22:40 | Report Abuse

Hi KC,

I believe we have reached quite the same conclusion towards Coastal. In my opinion, Coastal next growth driver is likely to be JU rig delivery rather than selling more and more OSVs....

Yup, hope we can exchange more ideas from each other. Below my personal mail box:

chinyongcheong85@gmail.com

Posted by kcchongnz > 2015-02-10 22:45 | Report Abuse

I hope to include YiStock too. We are of the same school of thought.

Posted by cheongcy > 2015-02-10 22:57 | Report Abuse

Hi KC, for sure ^^

Hi YiStock,

I noticed that you have a blog in i3 but I couldn't see any content inside?

Posted by YiStock > 2015-02-11 11:27 | Report Abuse

Hope to learn more from both of u..there are simply too many valuation mmethods for one to master all.

Cheong, i do not know n too lazy to learn how to write good blog actually..all my spread sheets are with figures only.

Posted by fortunecheat > 2015-02-24 09:01 | Report Abuse

kcchong, what you have shown in the article is coastal's historical performance (which you used as justification for investment). They made RM200 mil net profit. That was during the boom time. With oil now at current depressed level (and expected to stay low due to the new player, shale oil), can coastal repeat the same performance ? Most of its orders are offshore support vessels. Will there still be so much demand going forward ? Will profit margin be depressed to compete with other players for order book ?

Peter Lynch said don't drive by looking at the rearview mirror.

Afre you driving your New Zealand SUV by looking at the rearview mirror ?

Posted by kcchongnz > 2015-02-24 10:38 | Report Abuse

fortunecheat,

I would say you have some relevant questions. Good work.

But sorry I can't answer your questions. Firstly I am not a fortune teller, I can't see the future. And secondly I don't cheat. I won't simply paint a rosy future picture to cheat you. Can't do it.

However, I don't think you can tell what is in store for the future too. In fact none can tell the future correctly and consistently, not the economists, analysts, the talking heads in the media etc. Let me cite the same example you did in your following post.

Just a few months ago when everyone is so optimistic about oil and gas companies, including Coastal which went up to more than RM5.30 a share half a year ago, did anyone foretold the future then that crude oil could crash in such a furious manner? Did you? And how are you so sure that it won't recover in the future?

You don't seem to have read enough about investing and forecasting about the future. If you do, you will find that there is no statistical significance that anyone can predict correctly the future of stocks, financial markets, commodity prices etc. Note the word "statistically significance"

Nobody drives by looking at the rear view mirror. Not me, do you? But I do use the rear view mirror; when reversing, before overtaking, parking, etc.

May be you should do that too. Otherwise it is dangerous to drive.

In investing, yes, I look at the rear view mirror often too as i tend to have the opinion that a company, a good business, which has been manged well by the same good people in the past, will most probably do well in the future. Note the phrase "most probably".

That is what Warren Buffet said too

“In the business world, the rearview mirror is always clearer than the windshield.”

I hope you understand what he said.

So for me when I drive, I have to look ahead the windshield, but I can only see that much. I also have to look at the rear mirror once a while as explained.



Posted by fortunecheat > Feb 24, 2015 09:01 AM | Report Abuse

kcchong, what you have shown in the article is coastal's historical performance (which you used as justification for investment). They made RM200 mil net profit. That was during the boom time. With oil now at current depressed level (and expected to stay low due to the new player, shale oil), can coastal repeat the same performance ? Most of its orders are offshore support vessels. Will there still be so much demand going forward ? Will profit margin be depressed to compete with other players for order book ?

Peter Lynch said don't drive by looking at the rearview mirror.

Afre you driving your New Zealand SUV by looking at the rearview mirror ?

Posted by fortunecheat > 2015-02-24 11:36 | Report Abuse

Good morning kcchong (or afternoon, if you are in New Zealand).


First of all, let me clarify that my name is not to imply that you cheat (a bit cocky you are, but I consider u quite a gentleman with proper character. So no issue with that). My name is actually meant to honour a forum member who created portfolio in January but used December price as entry cost.


Back to the topic. I am not actually challenging you on Coastal. Just seeking clarification. I don't think I have been hostile in my query. The only difference from others is that I left out the flattery and pleasantries, and prefer straight talk. Hope that doesn't give you a wrong impression.

Happy with your explanation. Especially the part on "there is no statistical significance that anyone can predict correctly the future....". That was exactly the same conclusion I have after what happened recently to the oil market. It threw every assumptions, valuation, modelling out of the window. I did learn a new lesson from that. Nowadays, I gave more emphasis to diversification as a result.

Last but not least, I hope you are not driving and reading my response through your smart hone at the same time. That is not safe no matter you are looking at the windshield or rearview window

Have a nice afternoon. It is pretty hot over here.

Posted by kcchongnz > 2015-02-24 16:09 | Report Abuse

Posted by fortunecheat > Feb 24, 2015 11:36 AM | Report Abuse

Good morning kcchong (or afternoon, if you are in New Zealand).

Back to the topic. I am not actually challenging you on Coastal. Just seeking clarification. I don't think I have been hostile in my query. The only difference from others is that I left out the flattery and pleasantries, and prefer straight talk. Hope that doesn't give you a wrong impression.

Happy with your explanation. Especially the part on "there is no statistical significance that anyone can predict correctly the future....". That was exactly the same conclusion I have after what happened recently to the oil market. It threw every assumptions, valuation, modelling out of the window. I did learn a new lesson from that. Nowadays, I gave more emphasis to diversification as a result.

Last but not least, I hope you are not driving and reading my response through your smart hone at the same time. That is not safe no matter you are looking at the windshield or rearview window



Glad you are happy with my response to your earlier post. No, I don't need any flattery and pleasantries from you and I don't really know who you actually are. And please read my response to you again, I do tell you to use both the front screen as well as the rear view mirror when driving. I didn't ask you to use your smart phone when driving, did I?

And just a reminder. Fundamental value investing is a evergreen thingy; buying good companies such as that of Pintaras, Scientex when they are cheap. and avoid lemon like London Biscuits, KNM, GCB etc. These are excellent near perfect examples to use to remind investors and it happen that I know them more than other companies.

Fundamental value investing won't change with time too. If you feel "sian" reading my fundamental investing principles and examples used, I can't help you.

Well you can use your examples and not follow mine. i like to see your examples, or your investment strategies. I am sure others like to see too.


Posted by fortunecheat > Feb 23, 2015 05:32 PM | Report Abuse

can write something new ? it is Lonbisc, Pintaras.... AGAIN...

a bit sian already...

Posted by chonghai > 2015-03-02 18:23 | Report Abuse

kcchongz, thanks for the analysis. Nice work. Happy investing !

Posted by donfollowblindly > 2015-08-16 11:21 | Report Abuse

Recommend to buy at RM 3.27 saying intrinsic value RM 4.24. Now RM 1.84 losing RM 1.43.

Posted by thomasview > 2015-08-16 11:27 | Report Abuse

Aiyoh, good stock but wrong timing to buy in february. Really jialat

Posted by donfollowblindly > 2015-08-16 11:42 | Report Abuse

Good stock but timing to buy is also important o/w lose a lot of money.

Posted by kcchongnz > 2015-08-16 12:49 | Report Abuse

Posted by donfollowblindly > Aug 16, 2015 11:21 AM | Report Abuse
Recommend to buy at RM 3.27 saying intrinsic value RM 4.24. Now RM 1.84 losing RM 1.43.


donfolloblindly,
As usual, you follow me blindly on those few stocks (out of scores of stocks) I have written for sharing of knowledge which have gone down in prices, and come out to attack when the opportunity comes, like this bear market time.

Everyone of your attack is like the above, that I recommend to buy at such and such a price and the price now has dropped by such and such. Have you ever intelligently debated with me on the salient fundamental points I was sharing in any of the 150 articles I have written in i3investor?

Most of my sharing starts with this phrase:

“Disclaimer: Please be reminded that this article serves as sharing and learning purpose and it doesn't constitute a buy or a sell recommendation.”

Where the f I have said I “recommended” you stupid dontfollowblindly to buy which and which stock? did you pay me to do so or not?

Posted by thomasview > 2015-08-16 12:53 | Report Abuse

Aiyoh, if bought in Feb kena jialat gao gao tiaw woh, half capital kena tibai gone woh

Posted by kcchongnz > 2015-08-16 13:17 | Report Abuse

Posted by donfollowblindly > Aug 16, 2015 11:21 AM | Report Abuse
Recommend to buy at RM 3.27 saying intrinsic value RM 4.24. Now RM 1.84 losing RM 1.43.

Posted by thomasview > Aug 16, 2015 11:27 AM | Report Abuse
Aiyoh, good stock but wrong timing to buy in february. Really jialat

Posted by donfollowblindly > Aug 16, 2015 11:42 AM | Report Abuse
Good stock but timing to buy is also important o/w lose a lot of money.

Posted by thomasview > Aug 16, 2015 12:53 PM | Report Abuse
Aiyoh, if bought in Feb kena jialat gao gao tiaw woh, half capital kena tibai gone woh


thomasview (whoever you really are), why? Lost money follow blindly your friend dontfollowblindly when that dontfollowblindly read my article on Coastal Contracts? "kau be kau bu" liao? Cry baby cry, just because you follow blindly and lost money?

How come such a coincidence you came out the same time as dontfollowblindly making complaints here? Your friend ah?

Go blame your friend (?) dontfollowblindly recommending you buy!

Posted by Icon8888 > 2015-08-16 13:24 | Report Abuse

Never blame anybody if stock price comes down

KC wrote the article with all its facts and opinions fully laid out in front of the readers. He didn't put in any fake info to mislead anybody. If after reading the article and u go ahead to buy, u assume full responsibility.

Posted by m00077 > 2015-08-16 13:25 | Report Abuse

Anyone who bought share in early 2015 and keep til now will lose due to KLSE market collapse. Don't blame others for your own failure. KC said that the stock market is unpredictable. Low price can go lower, or even much lower when market collapse.

Posted by m00077 > 2015-08-16 13:28 | Report Abuse

Mr kcchongnz write the article is during the good time and very unfortunate that the share market crash not only in Malaysia but in many countries. Anyone who bought share in early 2015 and keep til now will lose due to KLSE market collapse. Don't blame others for your own failure. KC said that the stock market is unpredictable. Low price can go lower, or even much lower when market collapse.

Posted by Icon8888 > 2015-08-16 13:33 | Report Abuse

I dislike people that wrote articles to spread rumours to con people to buy and subsequently dump on the buyers. I think that is unethical and deserves to be condemned. KC is totally not in that category. He shouldn't bear a single bit of responsibility for anybody losses. In the first place, he doesn't get to share a single sen if the readers make money

Posted by Ooi Teik Bee > 2015-08-16 13:41 |

Post removed.Why?

Posted by Ooi Teik Bee > 2015-08-16 13:45 | Report Abuse

A person use new id is here again. KC Chong and I will be in trouble.

Thank you.

Posted by thomasview > 2015-08-16 13:49 |

Post removed.Why?

Posted by kcchongnz > 2015-08-16 13:54 | Report Abuse

Posted by duitKWSPkita > Aug 16, 2015 01:39 PM | Report Abuse

Icon8888...

U cannot like that... I know u had dinner with abang KC Chong last nite in Auckland and watching Dato Lee match together...then today u praise him openly.... Hahahah.. Kidding la..

Actually I like Kc Chong's style in analysis. I am on full FA and value investment now.... Wait until I earn enough then I wanna register for Kc's course.... Malaysia ok la.. Auckland or kangaroo land I nt afford lo


Where got dinner with Icon8888. I can't recall that. Where got watch Dato' Lee? I was watching rugby between All Black and Kangaroo at a pub at Sky City when All Black won handsomely. Shouted until I have lost my voice.

duit, you have your own style of value investing, a proven one too. You don't need to learn from me. Maybe I should learn from you.

Posted by thomasview > 2015-08-16 13:57 |

Post removed.Why?

Posted by kcchongnz > 2015-08-16 13:58 | Report Abuse

Posted by thomasview > Aug 16, 2015 01:49 PM | Report Abuse
KC, why you tibai and bantai me? No mention you woh, no wind no tremor kena pachukang from you leh. Sikit ku dicini woh


Sorry if I bantai you wrongly. Sorry sorry. Like in investment, I sometimes, not only sometimes, but sometimes can be often, can be wrong too. No malice intended.

Posted by thomasview > 2015-08-16 14:05 |

Post removed.Why?

Posted by kcchongnz > 2015-08-16 14:20 | Report Abuse

Posted by duitKWSPkita > Aug 16, 2015 02:02 PM | Report Abuse

KC senior.... Jz met and clear some doubts with the management n together with conservative FA analysis.. After this when recovery take place VS industry will hit RM7 without stokist help... Partly due to Vietnam's income... I will not propose buy call now obviously... Thanks for discussion always.. Sincerely appreciate it


In investing, it is the future which is important. if you have the information about the future which others don't have, you can make a lot of money, no doubt about it. I don't have the information of the future of a company, and hence I have to rely on what has been published. What I share in i3investor is no doubt, history. I don't know its future, and my character is I don't simply listen to what others, including the management, tell me about the future of the company.

Do pay a little attention of the few concerns I have expressed, namely the cash flow, inventories, and the problems faced by its major client. I could be wrong as I have no information of its future.

By the way, what I have shared is for discussions purpose, which is true about the past of VS, could be for other companies, not necessary will be true for the future of VS.

Posted by paperplane3 > 2015-08-17 13:42 | Report Abuse

VS again? Simple thing-Keurig in trouble, so will VS! avoid at all cost lah. simple as tht

Posted by saltedflsh > 2015-08-17 16:26 |

Post removed.Why?

Posted by buddyinvest > 2016-02-20 14:40 | Report Abuse

Kcchongnz, it is time to revisit coastal which has been neglected by investing community.

Investing is a popularity contest, and the most dangerous thing is to buy something at the peak of its popularity. The safest and most potentially profitable thing is to buy something when no one likes it, says Howard Mark.

Posted by kcchongnz > 2016-02-20 16:14 | Report Abuse

Posted by buddyinvest > Feb 20, 2016 02:40 PM | Report Abuse

Kcchongnz, it is time to revisit coastal which has been neglected by investing community.

Investing is a popularity contest, and the most dangerous thing is to buy something at the peak of its popularity. The safest and most potentially profitable thing is to buy something when no one likes it, says Howard Mark.


Buddy, I agree with your principle. But i really don't know when oil price will recover. Invest you do but don't swing the fence.

Posted by buddyinvest > 2016-02-23 13:30 | Report Abuse

Sifu Kcchongnz, thank you so much for your detailed analysis.

Posted by haikeyila > 2016-06-22 11:20 | Report Abuse

instead of being promoted to the billion ringgit club, it could soon get relegated to the penny stock circus, lol.