Posted by stockmanmy > 2017-06-01 12:33 | Report Abuse

no risk no gain...and why not?

and this one don't even have the old Lion and Parkson baggages to carry.

Posted by VenFx > 2017-06-01 12:43 | Report Abuse

Good pick on Penny glove...
Thx icon8888 .

Posted by hissyu2 > 2017-06-01 14:00 | Report Abuse

hmmm... mind to share with us, what's your opinion on the carepls balance sheet? especially on the current ASSET?

Posted by paperplane2016 > 2017-06-01 14:03 | Report Abuse

Who is the owner?

Posted by Hua Joshuaayoung > 2017-06-01 17:00 | Report Abuse

this counter is potential merge by golve taiko espeically topglove.. wait for luck !

Posted by Jay > 2017-06-01 17:20 | Report Abuse

It's in a good industry riding on the giants' big name. but track record, brand, customer relationship is not there. unlike the big boys, maybe it's too optimistic to assume additional capacity will directly translate into additional sales.

the angle I think most investors are counting on is if the one quarter strong results continue and annualised PE gets closer to the big boys. potential upside maybe, but multi-bagger may be a bit exaggerated

Posted by stockmanmy > 2017-06-01 18:53 | Report Abuse

a lot of weird stuffs going on in this company, weird stuffs that Top Glove and Hartalega do not need to resort to.
when doing an analysis of this company should highlight those weird stuffs....
1 they set up a 50% subsidiary to be the sales agent for South and Central America...transfer pricing issues and minority interest taking up all the 2016 profits and huge amounts of 2017 profits.
2 classified as amounts owing by related party $ 60 million is a company with common directors and maybe sales agent.

this company no transparency and very weird...Top Glove and Hartalega never have to resort to such stuffs.

Posted by stockmanmy > 2017-06-01 19:02 | Report Abuse

not a single fund manager in the top 30....

if you are a professional fund manager, would you get yourself involved in such a weird set up?

on the other hand, it is weird no fund manager in this glove making company..this could have been an ideal company for venture capitalists and seed capital investing.

Posted by paperplane2016 > 2017-06-01 19:39 | Report Abuse

Valid points by both expert here. I just wanted ato know who is the owner, are they credible, are they honest people. To be management is everything.

Posted by probability > 2017-06-01 19:46 | Report Abuse

Totally agreed. Not only that...they can screw up a business too..


Posted by Icon8888 > Jun 1, 2017 07:40 PM | Report Abuse

that is why people said accountants are bean counters... they picked up all kind of nonsenses from accounts and magnify them by 100 times

paralysis by analysis

accountants can never been good investors, I have said it many times, and I am saying it again

Posted by probability > 2017-06-01 19:49 | Report Abuse

Especially when Accountants try to influence MD's decision...never allow an MD purely from a commercial background - they are only good at acquiring...organic growth will be killed.

Posted by Flintstones > 2017-06-01 19:50 | Report Abuse

Icon sifu, this CEO can trust or not? I can also blow water with the media I have this installed capacity in future but whether it will come true or not seems like a risk

Posted by hissyu2 > 2017-06-01 19:50 | Report Abuse

so, you guys are pretending those concerns not exist? hmm... for trading, still ok la~~ investment? hmm... what if they impair it? well, you guys may ady taken profit... happy go lucky

Posted by stockmanmy > 2017-06-01 20:13 | Report Abuse

yes icon

stock market...many a times, ignorance is bliss.

many a times , ignorance comes back to bite you.

how to know which is bliss?

Posted by Cockcroach > 2017-06-01 20:23 | Report Abuse

The MD is reliable. I say this because i have bought this counter years ago till its bonus issue and had been following their developments

Posted by bgt9963 > 2017-06-01 20:32 | Report Abuse

It's a ace counter,so funds and institutions will give it a miss....my 2 sen!

Posted by hissyu2 > 2017-06-01 20:50 | Report Abuse

stockmanmy, just give your best blessing to them ba~~ they choose to ignore... as long as profit $$, then okay dy... argue so much also bo use... since they dont care...

Posted by ran777rpt > 2017-06-01 20:57 | Report Abuse

Seems to be a good upward trend. May buy tmrow at 37.5 cents if available. Or else buy 38 cents, no harm.

Posted by mrcibaiii > 2017-06-01 20:57 |

Post removed.Why?

Posted by stockmanmy > 2017-06-01 21:02 | Report Abuse

majority in i3 don't analyse...they vote on popular contest...as if this is a political forum.




mrcibaiii > Jun 1, 2017 08:57 PM | Report Abuse

sohai counter got so many like... real sohai

Posted by Cockcroach > 2017-06-01 21:06 | Report Abuse

This counter is not a popular one lah. It has been dead for many months until they made a turnaround finally.
Earnings improved also get condemned.

Posted by ran777rpt > 2017-06-01 21:13 | Report Abuse

Many giving negative perception on this counter. Helpful for me to pick up at a slightly low price. Earlier I overl looked Icon8888's write up and recommendation.

Posted by ran777rpt > 2017-06-01 21:16 | Report Abuse

Actual sohais have missed the boat. Now proving that they are genuine sohais waiting to pick at a very low price ha ha ha

Posted by aseng > 2017-06-01 21:52 | Report Abuse

looking at the chart and QR , I will buy a little to earn a cup starbuck coffee
but to keep for long term and hoping to make big money i scare i can't sleep well every night

Posted by aseng > 2017-06-01 21:53 | Report Abuse

stockmanmy,

you are very sharp , a good accountant

Posted by aseng > 2017-06-01 21:55 | Report Abuse

Jay,
you have business sense , a good advice for newbie like me .

Posted by aseng > 2017-06-01 22:00 | Report Abuse

icon8888, you are the most generous and unselfish sifu here.

Posted by lextcs > 2017-06-01 22:26 | Report Abuse

go see for yourself the factory then pretend try to buy their gloves....more will meet the eyes.....Brazilian connection? failing from the start....don't believe? go ask same industry players....

Posted by stockmanmy > 2017-06-01 22:31 | Report Abuse

they put a middle man in between....they can do what ever result they want....no transparency.

Posted by stockmanmy > 2017-06-01 23:17 | Report Abuse

D & O is another company I like a lot.
But alas, they only have 50% of the core operating subsidiary. ...making the share over valued.

if only D & O has 100% of the subsidiary.......

Posted by aaa888 > 2017-06-02 00:48 | Report Abuse

Thanks for sharing. I've done thorough studies on the company's info, financials, industry prospect, shareholding analysis and management team analysis. I decide to buy tomorrow and I have a high TP on this stock. Thanks icon8888 for sharing. I have made my first bucket of gold with the stocks you recommended. Thanks.

Posted by aaa888 > 2017-06-02 01:06 | Report Abuse

And it's a fate I believe to get to meet such as 'gui ren' in life. If there's a chance, Icon8888 (ps: this is not a confess), I would like to buy you a good meal as appreciation and have some blow water session on stocks, or life. If you don't mind, perhaps you can share your email address to me here. I'll send you an email :)

Posted by stockmanmy > 2017-06-02 07:30 | Report Abuse

trying to salvage your Care, icon?

Posted by paperplane2016 > 2017-06-02 07:51 | Report Abuse

Wow. Now wanna take credit on jhm. Carepls please. We talking carepls. What so unique about their gloves that people buy from them instead of top four. Kossan, top glove, harta, Supermax. I believe they also can do what carepls did. And perhaps do it better and cheaper

Posted by stockmanmy > 2017-06-02 08:01 | Report Abuse

icon

just say your analysis of Careplus is incomplete....and end of story.

good analysts must highlight all unusual and not so normal stuffs.

up or down is caveat emptor.

Posted by abang_misai > 2017-06-02 08:04 | Report Abuse

Icon8888, I may not have Rm30mil - Rm40mil you are flushed with, but I can beat you with my younger age. Power of compounding will make it possible for many to overtake you. Hehe

Posted by abang_misai > 2017-06-02 08:10 | Report Abuse

Don't attack icon8888. We have to admit that he has been contributing a lot in the i3. I have lots of respect for him.

Posted by stockmanmy > 2017-06-02 08:27 | Report Abuse

I wrote my findings. My first post here wasn't even negative.

Posted by eyewitness > 2017-06-02 08:34 | Report Abuse

Careplus has a loan of RM65 mil to a related party, an increase of RM10 mil YoY.
This is larger than even its paid-up capital.
There may be a good reason for this, otherwise it sounds problematic and even suspicious.

Posted by stockmanmy > 2017-06-02 09:59 | Report Abuse

icon

some accountants may feel uncomfortable with Sendai borrowings....but I think buying a turnaround stock especially one that is involved in almost all the iconic structures in Asia can be a very lucrative bet.

Posted by eyewitness > 2017-06-02 10:05 | Report Abuse

My comments were not a critique. I brought up unusual stuff here because Careplus is the subject here, not Eversendai. It's not double standards as I've not even looked into the latter.
To put it into perspective, my view is Icon8888 writes excellent analyses.

Posted by stockmanmy > 2017-06-02 10:28 | Report Abuse

Careplus makes into top volume list.

that is when contra kakis itchy fingers.

Posted by cckkpr > 2017-06-02 12:18 | Report Abuse

One quarter results for 2017 better than the profit for the whole of previous year. This thing cannot happen in the glove industry. Moreover, amount owing by related company is worrying.

Posted by secret123 > 2017-06-02 14:18 | Report Abuse

Hi, cckkpr. Respond to your amount owing by related company, that is not borrowing, but the sales to related people. In simple words, it's same as trade receivables, they sold to related parties, for transparency purpose, it's being recorded in that way. Please read PAGE 87 in Annual Report 2016.

This company has bright future where the recent record high profit mainly comes from CORE EARNINGS. And double positive effects with CAREPLUS's capacity expansion + better margins due to economoies of scale.

Valuation wise, annualise latest EPS, PE is at 12x at 38 sen. For big glove players, industry PER is between 23x to 28x like Topglove, Harta etc. For small glove companies, the PER should be around 15 - 20x. Assume PER 15x, at annual recent EPS, the share price should be at RM0.47. Why multi-baggar? Because the huge capacity expansion plans + better margins with lower cost per unit will drive the earnings exponentially.

It's a no-brainer buy at this level.

Posted by stockmanmy > 2017-06-03 08:37 | Report Abuse

this is also to show math teacher I am not a fake accountant.



aseng > Jun 1, 2017 09:53 PM | Report Abuse

stockmanmy,

you are very sharp , a good accountant

Posted by Icon8888 > 2017-06-03 10:39 | Report Abuse

maybe you and aseng same person ? LOL

Posted by Bizfuneng > 2017-09-11 07:33 | Report Abuse

Icon8888 sifu, any further comments on the fundamentals in view of recent development?

Posted by abang_misai > 2017-09-11 07:48 | Report Abuse

Dia sudah lari