Got to go sleep now. Tomorrow I go cross country driving.
So see all later.
Remember,
Coming up Next Will Be
A SEARCH INTO THE DEEP STRATEGIC VALUE ASSETS OF HARRISONS. Its True Current Value How Much?
Last time Calvin bought CMSB at Rm2.40. At that time CMSB was selling at Deep Discount to NTA. As time proved CMSB's latent Asset Value Emerged & CMSB rose up over Rm10.00 into Blue Chip territory & split!
My Johor Sifu is an avid reader of Dr. Neoh's Weekly Investment Articles in the Malay Mail during his student years in UM, PJ. - circa 1970s/1980s
He would Cut Out the Writings of Dr. Neoh & studied over every detail & figure over and over again by heart.
Dr. Neoh's 3 yard sticks approach are:
1) The Stock should have high NTA. As a margin of safety.
This was how when Dr. Neoh recommended KPS around 45 sen in his monthly Digest in year 2006. We both loaded up. This turned out to be a 10 baggar when it hit a high of Rm3.94 one or two years later!! At that time KPS was selling at 45 sen with High NTA over Rm2.00.
2) EPS (It should have good earnings per share.
3) A Reasonable Dividend
Now Harrison has increased its dividend the stock looks even more atrractive as My Johor Sifu has retired from being an auditor long ago. He lived solely from dividend yields - 6 figures to 7 figures? just by dividend alone?
So by ALL 3 Yardsticks HARRISON IS AN OUTRIGHT BUY!
You donno what happen on the Kastam incident? You donno why Kastam go after Harrison? You donno what Harrison has been done until it get caught by Kastam? You donno what is the impact after it being caught by Kastam
If you know all these, then you won't buy Harrison, as it will never go back to its glory times.
Albukhary Calvin, you are not familiar with Harrison.
You donno what happen on the Kastam incident? You donno why Kastam go after Harrison? You donno what Harrison has been done until it get caught by Kastam? You donno what is the impact after it being caught by Kastam
If you know all these, then you won't buy Harrison, as it will never go back to its glory times. 21/04/2017 08:48
Calvin replies:
Look at Sifu's Point no. 5
5) Company year in year out making 30 sen and above except for year 2014 where it disputed with custom due to some technical excise duty and settled Rm30 millions with custom department once and for all
Surewin123 harrison RM4 how to buy? 21/04/2017 08:11
If you have extra Cash in Bank FD. And not going to use it in the foreseeable future. The best investment is to buy Harrison below Rm4.00 & keep it long term.
Just like Scientex giving increasing dividend every year with share price rising in tandem or like Dutch Baby to Dutch Lady last time
this stock 10 years also same price, only got dividend. for those who just want a bit dividend can buy only,for those thinking of price appreciation can forget about it
chkhooju If you are really good you should have called a BUY when it was trading at around 2.70-3.20 21/04/2017 08:58
Please note:
This is not Calvin's call
This is what My Johor Sifu asked to share
See he is transparent and already bought Harrison
Read:
"11) Before dividend proposal was announced price hovers around Rm3.40 to Rm3.50. I don't think the effect of dividend has been priced in. I bought around Rm2.60 to Rm2.70. The effect will be priced in once it cross Rm4.10"
Johor Sifu bought at Rm2.60 to Rm2.70
He came out to tell all because Harrison has settled its problems and now ready to go up another level.
Apollo Ang this stock 10 years also same price, only got dividend. for those who just want a bit dividend can buy only,for those thinking of price appreciation can forget about it 21/04/2017 08:58
The increase of dividend from 15 sen to 25 sen means Management is NOW confident that Harrison is on firm footing & able to accelerate earnings (retained).
Surplus earnings will now translate into even higher and higher dividends in coming years.
On this count Dutch Lady (solely by way of DIVIDENDS) propelled from 40 sen to over Rm4.00
Posted by speakup > Apr 21, 2017 09:30 AM | Report Abuse
Calvin, what u think of OSK? current share price only 50% of NTA. And PE only 8x. worth investing?
According to OSK/RHB Iskandar Top Boss Mr. Law OSK is undervalue. The Boss of OSK is a conservative guy. So this will be a deep value asset play like DRB (DRB also got deep discount to Book Value)
i having coffee break. harrison already sold golden hope plantation to sime darby now it is mainly involved with distribution and logistic work all over East Malaysia.
It has a total monopoly there with long history.
Barrier to entry will be difficult to anyone with all the strategic facilities and connections done through many decades.
So it is Has Rock Solid Monopoly and Defensive against competition.
As it distributes milo, maggee mee, coco cola and daily necessities It is also RECESSION PROOF!
Better buy as much as you can before other Analysts or Research Houses discover this.
This Harrison is a stock even Warren Buffet would like to buy some.
The identical products like
Coca cola Kraft Nestle Proctor and Gamble Johnson and Johnson
are all found inside Harrison's Distributorship.
NOW THE CROWNING OF IT ALL
IS THE JUMP OF DIVIDEND FROM 15 SEN TO 25 SEN
A JUMP OF 60% EXTRA DIVIDEND
I AM SURE DIVIDEND BASED FUND WILL CONVENE MEETING AND BUY HARRISON LATER
this counter though it is good but you keep mentioning dividend jump, is this year dividend payout is consistent? Is this company has fixed dividend policy like HAIO, Padini etc
Over the past few days JOHOR SIFU again messaged me
MORE SALIENT POINTS ON HARRISON
1) "I see, I think quite a great support at this level and will move up when it approaches dividend ex-date
2) "If anybody with Rm100 million, they will not jump into this business as margin is rather thin. They will prefer doing property business which is one off"
3) "Put it this way, nature of this type has high barriers of entry"
4) "Margin no doubt is thin like YeeLee, DKSH, but collection normally sure because if the retailers refuse to pay, they will not be able to get necessary supply"
5) "It is a good sign the management up its dividend pay out from 150 to 250 without any demand from shareholders in view of their suffering year 2014 and 2015 when company was fined by custom department (2014) and fire incident in one of its warehouse (2015). If nothing unfortunate happen, I think the company will continue its dividend payout at this amount"
6) "The amount must also commensurate with the level of share price"
7) "As it still has plenty of Cash. Above Rm80 millions Cash or even higher in the Company."
8) "Cash as standby for emergency use, in fact is excessive, it has no problem of maintaining same level of dividend of 250"
Calvin comments:
As an experienced auditor with careful scrutiny of accounts JOHOR SIFU has pointed out all these salient facts.
There is no guessing game here. Real, down-to-earth investment in Growth - Dividend based Stock like Harrison for longer term.
As he thinks HARRISON's Fair Value is Rm4.50 so as price is still below Rm4.00 it will be worth buying some if you have not done so.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Op3rs
397 posts
Posted by Op3rs > 2017-04-21 00:30 | Report Abuse
Geng wo johor sifu.. Calvin when will you appear beside FongSiLing, Dr Neoh SK and johor sifu?