Posted by stockmanmy > 2016-09-17 23:17 | Report Abuse

Clim is right

Posted by bohmiah > 2016-09-18 11:26 | Report Abuse

hmmm ... how come this was not included in the Bursa announcement

Posted by MG9231 > 2016-09-18 13:01 | Report Abuse

why TTB dare not to reply this letter either politely or sarcastically ? I always have an impression that he can immediately argue from nothing or give a sarcastic reply during his ICAP BHD Agm when any shareholders raise any questions relating to the issue of ICAP. Perhaps he is not accompanied by his stunt followers.

Posted by ckkhen > 2016-09-18 23:05 | Report Abuse

One thing most inveators fail to understand is that TTB is very stubborn in holding his investing discipline i.e if there is nothing undervalued shares to buy, he won't buy even if you point a gun at his head. This rare trait makes him very controversial in the last few years when CLIM and some shareholders were getting impatient. Why is keeping plenty of CASH for future opportunities bad? Yes, his Parkson fails big time but who is 100% correct? Icap makes money from recent Wellcall, Vitrox and PIE sales. His Padini and F&N (just two examples) have been winnesr since 10 years ago. You buy icap for long term (>10 years) capital gains not for dividends or short term ( 1-3 yrs). Don't grudge his fund fee of 6m per year. Conservative investors pay him to sleep soundly and not to lose hard earned money. Not everybody can invest and make money in Bursa Malaysia.

If TTB is such a poor fund manager, why is CLIM a substantial shareholder (15+%)? They find value in icap, isn't it? Why didn't CLIM buy HLI, Padini, Dlady, Panamy, AAsia, AJI, Tguan or some recent shares that have gone up considerably the last year or so? They would have make handsome capital gains. Instead, they keep accumulating Icap and want to kill the golden goose to get the golden eggs!

Posted by MG9231 > 2016-09-18 23:30 | Report Abuse

Please read carefully how TTB's opened reply to City of London in yr 2015. If my memory serve me right. He laughed at fund manager of City of London how stupid they were. 1st on loss of forex by 30%. 2nd shouldn't invest so much in Icap bhd. So , City of London fund overall not performing should not blame Icap bhd. What about his own duty as fund manager? If he keep shouting bear is coming since 2010... Will you get bore. I am a listener already "tak tahan" . Sure , one day bear will come . But to an investor, he has made many wrong call in many years in terms of opportunity cost. Since he is well verse in economic topic, he should understand what I mean.

Posted by thteh > 2016-09-18 23:49 | Report Abuse

He should just apologies for wrong timing the market and kept so much cash with lost opportunity for a number of years now.

Posted by MG9231 > 2016-09-19 00:06 | Report Abuse

Yes, A gentleman should issue an open letter apologise to his share owners for his wrong judgement seeking forgiveness. This is called accountable to share owners .

Posted by MG9231 > 2016-09-19 00:17 | Report Abuse

With his kind of attitude, if he operates a fund in any fund house, he already asked to leave the company.

Posted by ckkhen > 2016-09-19 10:34 | Report Abuse

I am a icap shareowner since 2005 and have collected 200,000 shares @ average price of 1.81. So, my capital gain is 2.37-1.81 = 0.56X200,000= 112,000 for a 30.9% capital gain (112/362*100).

NAV = 3.13. So, my NAV gain = 3.13-1.81= 1.32X200,000 = 264,000, a potential gain of 72.9% (220004/362000*100).

After 11 years, my rate of return is 30.9/11 = 2.8% (share price) and 72.9/11 = 6.6% (NAV).

How is my investment under TTB?

Posted by ckkhen > 2016-09-19 23:19 | Report Abuse

ks55,

Thanks for showing me my opportunity cost.

Posted by ckkhen > 2016-09-20 00:36 | Report Abuse

ks55
Yes, will vote with my legs.