Posted by saltedflsh > 2015-08-16 23:41 | Report Abuse

One of worst stock to invest now! Avoid!

Posted by sosfinance > 2015-08-17 09:34 | Report Abuse

This is a typical situation where market illiquidity is a double edge sword. It can cause significant (>20%) over valuation (which is a moving target) or under valuation as against the fundamental (also a moving target depends on the economic conditions).

The company involved cannot control either one of them (unless they are the major shareholder & the stock is illiquid and they control the price movements - which can be done) or fundamental has changed drastically due to the current currency issue effecting some of the companies and the investors (especially foreign ones).

So, it is impossible to compare iCap with anything or anyone (although it can be used as reference) because there is only one closed end fund in Bursa. Unless, one fine day, they decide to stop the biz, and distribute all the capital gain back to all the shareholders, that, can only be answered by the major shareholders. We can say whatever we like, what has happen, happened, no matter how much noise we make.

Posted by firehawk > 2015-08-17 09:53 | Report Abuse

Malaysian ver of WB keen to bluff .....

Posted by arv18 > 2015-08-17 10:03 | Report Abuse

my god, the hubris on display by 'the chairman' is simply jaw dropping

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

Investing is a very difficult job. It is true for small retail investors, true for so-called super investor, and it is also hard for fund manager. I don’t care if you claim that you are the Warren Buffett of Malaysia or what. Investing is not easy. So it is acceptable, and excusable even if a fund manager doesn’t perform, because investing is not easy. But look at the statement from the annual report from the fund manager of icap.

I really surrender to the hubris of the fund manager like what Arv18 have said.

The statement is:

[icap “continued” to deliver “good performance”]

What “good performance”? “Continued” from when?

If I have bought icap 5 years ago thinking of investing for my retirement, what did I get? Less than 30% return in 5 years, while I have been reading how those guys in i3investor making a few hundred percent from their investment during the same period, many of them, while the fund manager has collected more than RM10 m in fund management expenses. How would I feel? Yet in the Annual General Meeting, he is regarded as a saviour of those shareholders of icap.

Taking a swipe at the shareholders, the very persons paying your management fees, in an annual report? Oh my God. If that Lexey Partners have succeeded in liquidating the fund and distributed the money to the shareholders at about RM3 a share three years ago, they would more than 30% more money pocketed then than now, and that money would have made some additional handsome return from then on.

How could shareholders stand that kind of Fund manager nonsense report? It makes me puke. If Warren Buffett were the fund manager, he would have tell in details all the mistakes made candidly and apologize profusely to his shareholders. Nobody would blame him anything.

Surprised how so many shareholders, even outsiders, still treat the fund manager of icap like an investment God.

Posted by chyokh > 2015-08-17 21:47 | Report Abuse

I thought I could retire comfortably by investing in icap because of the good track record of the fund manager but to my deep disappointment the fund has only performed in the first few years. I sold everything when I retire. Although I did not lose money but the underperformance is really disappointing. I cannot believe there is no company worth to invest in the past few years in Malaysia. There are some good companies making profits year after year.

Posted by murali > 2015-08-17 22:11 | Report Abuse

Dude,do u know that TTB has been holding lots of cash since few years ago?can they survive this round?you must be kidding....

Posted by murali > 2015-08-17 22:13 | Report Abuse

TTB get screwed left right now center for the past few years for holding lots of cash n he shall be damn happy now,finally....

Posted by murali > 2015-08-18 08:38 | Report Abuse

Is ICap a hedge fund?

Posted by paperplane3 > 2015-08-18 08:38 | Report Abuse

icap is lousy

Posted by murali > 2015-08-18 08:45 | Report Abuse

Though I dont like TTB, I am quite sure that he will not only survive thru this round, but instead will be greatly benefited from it....

ICAPITAL.BIZ BERHAD
AS AT AS AT
31/05/2015
RM'000

Non-current assets
Investments (Note 1) 145,597

Current assets
Other receivables and prepayments 3,488
Short term deposits 257,434
Cash and bank balances 518

Cash and short term deposit ard RM257,952,000, or about RM1.84 per share (total share 140,000,000)

What do you think?

Posted by murali > 2015-08-18 08:47 | Report Abuse

The performance of ICAP (or TTB) sucks for the past 4-5 years, but now he is dame happy.....finally can come out to talk cock again.....

Posted by omegacankill > 2015-08-18 08:54 | Report Abuse

TTB not only going to survive...
he gonna makes tonnes of money too...
but that is none of the ICAP minority shareholders' business
and as murali said the fella will talk big cock again..
compare with WB and BH...bla bla bla

Posted by murali > 2015-08-18 08:59 | Report Abuse

Can buy some now, but dont treat it as a long term investment, say 5-10 years loh....TTB will always think about his own pocket first, not the small shareholders....Just check with his shareholders then u will know

Posted by murali > 2015-08-18 09:03 | Report Abuse

What did he do with the shareholder's money for the past 4-5 years? He kept most of the cash in FD and used the FD interest for his big fat gaji buta while waiting for durian runtuh....now finally after a long wait, it seems to come...he got nothing to lose but everything to gain...as for you, u eat roti kosong n drink air kosong during these period of time...

Posted by murali > 2015-08-18 09:11 | Report Abuse

Paying RM2.15 now for a share which owns cash of RM1.84 per share n with NTA Rm2.90 seems to be a no brainer investment, somemore can see Msia WB giving few hours talk cock show every year....does it sound good?

Posted by thebadguy > 2015-08-18 11:46 | Report Abuse

Tan Teng Boo... see his face also feel like slapping him

Posted by stockraider > 2015-08-18 15:32 | Report Abuse

Raider says; just join the Mat Salleh and oppose TTB in coming AGM loh.....!!

Posted by thebadguy > 2015-08-19 11:41 | Report Abuse

TTB was a great investor, I still remember those days where he would appear on "Money Matters" on TV3. However he got badly burnt during the 2008 crisis where he was bullish when the whole market was collapsing. He probably never recovered from the trauma. Nowadays not willing to take any risk anymore.

Posted by haikeyila > 2015-08-19 17:32 | Report Abuse

not a big fan but he might just get it right this time around. when cash is again shown to be king.

Posted by ykloh > 2015-08-19 23:28 | Report Abuse

Given enough time, most investors can claim to have got right. A dead clock can still tell the correct time once every 12 hours. What matters is how much more one could have made by a different approach.