Posted by buddyinvest > 2016-04-02 17:36 | Report Abuse

Apa khabar Favco?

Posted by kakashit > 2016-04-02 21:28 | Report Abuse

i like misprice as always, will take note on APM

Posted by speakup > 2016-04-02 22:18 | Report Abuse

if your intrinsic value for APM is 3.95 and the share price now is 3.95, that means dont buy now coz there is NO margin of safety!

Posted by kcchongnz > 2016-04-03 00:04 | Report Abuse

Reversed discounted cash flows analysis, a powerful tool to gauge whether the market expectation of the growth of the business in the future is reasonable.

Where did JT Yeo say the IV of APM is RM3.95?

Posted by speakup > Apr 2, 2016 10:18 PM | Report Abuse
if your intrinsic value for APM is 3.95 and the share price now is 3.95, that means dont buy now coz there is NO margin of safety!

Posted by TeckChuan Lee > 2016-04-03 00:17 | Report Abuse

"if your intrinsic value for APM is 3.95 and the share price now is 3.95, that means dont buy now coz there is NO margin of safety!"

please bare in mind that the number is calculated by -6% growth for 10 years, and zero terminal growth. it is extremely conservative.

Posted by nemesis > 2016-04-03 12:20 | Report Abuse

Pls bear in mind tat all the companies written in tis blog we should not buy at all...we wanna buy something tat no analyst wrote about and not under coverage by investment analysts...

Posted by goreng_goreng > 2016-04-04 09:42 | Report Abuse

I would disagree with you regarding this statement:

"If investing in great companies is akin to finding the most beautiful wife; deep value means marrying the ugliest of the ugliest.".. it should be "If investing in great companies is akin to finding the most beautiful wife; deep value means finding the natural beauty women/man which has been overshadow by their worst makeup" I suppose it should be like finding hidden gem right?:)

other than that good write up.

Posted by speakup > 2016-04-04 09:48 | Report Abuse

JT Yeo mentioned the IV of RM3.95 at his table. Look at last row of his excel table.

Posted by Jon Choivo > 2017-11-26 13:02 | Report Abuse

Hmm interesting.

However, why not NHFATT then if we want automotive stocks, similar companies. though NHFATT is more focused on making replacement exterior parts. Or Favco etc etc.

The thing about APM for me that i worry about i that, i have no idea what their competitive moat is. Is this drop in profit due to a temporary change in vehicle demand, or a more permanent condition due to inability to compete. Their main shareholder Tanchong is really fucking up over the last couple years when vehicle sales is actually rather stable.