Posted by ( BNF trader losses ) Philip > 2019-04-13 14:47 | Report Abuse

you fail to make a note of the of the huge trade receivables of 11 million and its impairment losses (which is more than the company profit) and the effect of the late payment of customers for their products. Mind to elaborate more on that portion in your adjusted tp? As you did not touch on this subject at all. If the customer continues to not pay for goods sold (11 million so far and counting) which is half of the company market cap, how will it affect AHB?

In 2017, RM337K was impaired.
In 2018, RM344K was impaired.
what happens in 2019 if this amount increases?

Posted by Investhor > 2019-04-13 15:11 | Report Abuse

Allow me to answer the above..

Trade receivables are a good thing..as it indicates the significant amount of goods that company has delivered and now just pending payment from clients

I believe as investors we should allow the company management to do their jobs in pursuing the trade receivables..some improvements were surely made in FY2018 to the company operations and strategy..if not we wouldn’t have seen EPF taking an entry last year (I trust EPF would have done their due diligence with AHB management team via face to face visit and interview, and are confident in their abilities to run the business, before they invested in AHB)

Posted by ( BNF trader losses ) Philip > 2019-04-13 20:34 | Report Abuse

I think I need to elaborate your understanding of the word reader receivables.

If your trade receivables (DSO) it says outstanding is below 15 days, it is basically cash term, which is very good.
Below thirty days, is standard outstanding for collection.
Below 90 days, is credit limit and start to get phonecalls.
If you owe money more than 6 months don't pay, then we start to worry.
If your receivables take 1 year to collect, then it is similar to Sendai and it is very very bad.
If your receivables is l takes more than 18 months, then it might as well be impaired.

Normal companies should have a healthy spread between trade payables ( company got credit with suppliers) and trade receivables ( payment from customers) so they can use suppliers as adjust for delayed payment from customers.

Ahb is not healthy at all. That is why the share price drop so bad after 2017 and not much difference in earnings since 2014.

EPF? They are the same Jokers that invested in sapnrg and bumi armada. And also renong, Malaysia airlines, aokam perdana and many more.

You want to trust them blindly?

Good luck my young friend. I hope your investments do well.

Posted by Heavenly PUNTER > 2019-04-13 20:36 | Report Abuse

Thanks for the wonderful insights Philip... always thought EPF are bunch of weird people with their choices

Posted by Shinnzaii > 2019-04-13 20:41 | Report Abuse

If more than 6 years then bad debts...hehe

Posted by qqq3 > 2019-04-13 20:52 | Report Abuse

Sendai....revenue $ 1.7 billion, trade receivables $ 1 billion.....amounts shown as amounts due from customers under construction contracts is made up of costs incurred and profits recognized on work in progress but not billable to customers. This is the old MFRS.

There is a new MFRS to replace the old MFRS.

Posted by qqq3 > 2019-04-13 20:54 | Report Abuse

d by Heavenly PUNTER > Apr 13, 2019 8:36 PM | Report Abuse

Thanks for the wonderful insights Philip... always thought EPF are bunch of weird people with their choices
=======

EPF have to take what the market offers. EPF do not just take 4 counters in 10 years.

Posted by Heavenly PUNTER > 2019-04-13 20:55 | Report Abuse

unker qqq3 they should widen their horizon and look overseas mah... aiyo i see them everyday buy sell buy sell PChem... I also begin to wonder what the Fund Managers can learn from their experience in EPF hahahha...

Maybe they will learn the buy low sell high intraday rule very well I guess

Posted by qqq3 > 2019-04-13 20:56 | Report Abuse

work in progress accounting....The old MFRS is not user friendly to non accountants.

Posted by Heavenly PUNTER > 2019-04-13 20:58 | Report Abuse

Unker you accountant ah?

Posted by qqq3 > 2019-04-13 20:59 | Report Abuse

EPF....my son want to join EPF also but so far no success.

He says EPF only selects from premier league universities in UK and US....the Cambridge, Oxford , types.

There are no local graduates in their investment division.

Posted by qqq3 > 2019-04-13 21:01 | Report Abuse

well, I am a CPA( M).....but I have not been working for > 20 years ...........some in i3 call me a fake accountant.

Posted by Heavenly PUNTER > 2019-04-13 21:01 | Report Abuse

Unker qqq3 yeah I heard also very difficult to enter EPF... But from their transactions I really doubt the quality of Ivy Leagues and Premier League universities now hahahhaa

Posted by Shinnzaii > 2019-04-13 21:21 | Report Abuse

Standard keep change...later 2020 also new conceptual framework mali...headache...hehe

Posted by Investhor > 2019-04-14 07:39 | Report Abuse

@Philip - such a detailed question on the receivables should be addressed to the company during AGM and you can get your answer..I do not work for AHB so I only can judge the facts as they are and the writer in above article has demonstrated facts and figures instead of mere speculation

You mentioned the stock went downtrend from 2017..most stocks went downtrend last year due to the trade war debacle between US-China which affected stocks throughout 2018..now that the sentiment has turned bullish, most of the counters which had hit their year lows are starting to rebound..i believe the writer just wishes to highlight his opinion on an opportunity that he sees with the market..

And so far, looking at few articles recently posted by BURSAMASTER eg HOHUP, DANCO and MASTER, all the stocks have been healthily picked and the prices have maintained their uptrend

As for your comment about EPF being jokers..such a comment i feel is not suitabable to be made here in public forum..u may keep that to youself..do not look down and underestimate civil servants who are dedicating their effort to serve our country..shame on you..if you really feel such, go ahead and write officially to EPF to make your point rather than talk bad about them in this forum

Posted by BURSAMASTER > 2019-04-14 08:24 | Report Abuse

I wish to express my utmost appreciation to Philip; Investhor & others for the constructive comments on my article. I take it in great stride & appreciation on the comments but would like to apologise for the late response.

What Philip mentioned is an area of consent but Receivables aging amortization needs to be address by the company and a forensic audit needs to be done.

However, we should note that the company and its auditor is governed by the accounting standards and reporting guidelines as issued by Bursa Malaysia & SC which I believe are quite stringent....if needs be; upon these being triggered: a provision need to be done.

Thanks again Philip & Investhor for penning your views & I welcome such good & constructive comments

Posted by Kurin444 > 2019-04-14 09:09 | Report Abuse

ta part..let it close above 170 first..will be a good start from there..

Posted by dompeilee > 2019-04-14 10:05 | Report Abuse

I already entered & recommended to my clients since Jan '19. Waiting to sell into strength =)

Posted by dompeilee > 2019-04-14 10:10 | Report Abuse

150 lots to be exact...Planning to take profit @ 17c upwards...=)

Posted by ( BNF trader losses ) Philip > 2019-04-14 12:10 | Report Abuse

Being an investor in bursa since 90's my only advice is to understand where the money is coming from. If bursa was stringent there would be far less companies being listed and more delisted, but this would reduce the market cap and volume of listing transactions from which bursa earns it's cash.

I would say if 1mdb and xinquan and protasco can continue to exist, I'd put less trust on third part auditing and more on the business performance itself.

Office furniture manufacturing companies does not have any long term competitive advantage. Id skip it.

>>>>>>
However, we should note that the company and its auditor is governed by the accounting standards and reporting guidelines as issued by Bursa Malaysia & SC which I believe are quite stringent....if needs be; upon these being triggered: a provision need to be done.

Posted by BURSAMASTER > 2019-04-14 12:22 | Report Abuse

Appeciate your comments & reservations on this sector.TQ.
I have been an investor & trader in KLSE since 1976

Posted by Wong Yi Ming > 2019-04-14 12:28 | Report Abuse

Small impairment loss of trade receivables is not a big problem for the company because the company have very Little liabilities... current asset more than current liabilities more than 10 times... and the share price still below 20 sen... if all the warrant exercise to mother share, the company can get extra RM 14 million, good for company expansion... the exercise price only 0.20, I believe the share price can easily to touch the target price of RM 0.35 before warrant expire... Good Luck

Posted by HITnRUN > 2019-04-14 12:32 | Report Abuse

To pay decent dividend to holder, EPF has turned into trader rather than investor nowadays

Posted by nckcm > 2019-04-14 12:36 | Report Abuse

correct, when u see epf enter the stock, u better sell to them.

Posted by qqq3 > 2019-04-14 12:41 | Report Abuse

small cap investors vs big cap investors......

over a life term, over the long term.........it is more fruitful to invest in excellent companies, learn to say No to small cao opportunities..

for a trader, any thing also can trade, good bad ugly also can trade.

Posted by Wong Yi Ming > 2019-04-14 12:41 | Report Abuse

Of course if you want dividend you can invest in linen or pohuat, but if you want use small Knife to sawing big tree then AHB is suitable for you with very low risk because of clean balance sheet and small number of share.

Posted by qqq3 > 2019-04-14 12:42 | Report Abuse

nckcm > Apr 14, 2019 12:36 PM | Report Abuse

correct, when u see epf enter the stock, u better sell to them.
======

EPF do not enter stuffs with market cap < $ 1 billion....as a rule.

Posted by qqq3 > 2019-04-14 12:51 | Report Abuse

Wong Yi Ming > Apr 14, 2019 12:41 PM | Report Abuse

small Knife to sawing big tree
==========

that is one way to get rich.....

another way is stay focus, concentrated portfolio and big trees grow bigger.

Posted by qqq3 > 2019-04-14 12:52 | Report Abuse

Wong Yi Ming > Apr 14, 2019 12:41 PM | Report Abuse

small Knife to sawing big tree
==========

problem is losses mixed with winners, end of day, get what?

Posted by Investhor > 2019-04-14 13:18 | Report Abuse

there are investors who look for undervalued counters (capital growth) and long term stable income (dividend yields)

and then there are traders who trade based on charts (whether it be intraday, contra, or swing 1-2 weeks)

@qqq3 - it's easy for u to say to invest in long term for dividends..but in practicality, how many are really willing to buy and hold for long term let's say 5-10 years?

I appreciate the above sharing by BursaMaster as it provides opportunity for both investors (capital growth) and traders alike..if u feel it is not for u, then just go to other counter but no need to shot down people's opinion..

Posted by BURSAMASTER > 2019-04-14 13:30 | Report Abuse

Let discuss in a friendly & family atmosphere.. i welcome constructive comment...happy weekend

Posted by Heavenly PUNTER > 2019-04-14 15:48 | Report Abuse

REITs are good for dividend ah

Posted by dompeilee > 2019-04-14 17:00 | Report Abuse

I must confess that this is a koyak company & has been since it was listed. Even Mirzan long ago disposed his shares for 15 c or less.If the syndicate goreng next week, surely I will sell to them =)

Posted by dompeilee > 2019-04-14 17:01 | Report Abuse

Coz my average cost, bought in batches over the last 4 months, is below 14.7c =)

Posted by dompeilee > 2019-04-14 17:06 | Report Abuse

Pls goreng kuat2 tomorrow...I don't mind selling two lots by two lots throughout both trading sessions. After all, this is my full time job.

Posted by dompeilee > 2019-04-14 17:21 | Report Abuse

Also, I just checked up on BursaMaster's previous recommendations : Danco, HoHup, Master - Surprised that they are still about the same price level as when they were recommended!

In fact, all three share one common feature : they all suffered profit -taking the DAY AFTER the blog date! Actually Danco dropped two days after the blog date, with no 'meat' to take intraday profits in between the blog date & the first black candlestick day.


Just thought you'd all like to know =)

Posted by dompeilee > 2019-04-14 17:25 | Report Abuse

In fact, I remember taking profit on Master @ 90c the first trading day AFTER his post(on Saturday) on the counter. Since then...mostly peaked & down...

Posted by ming > 2019-04-14 17:50 | Report Abuse

Too many 孤魂野鬼stuck inside this counter le.. not easy to push up much.. somemore warrant expire soon.. every push i will recognise as trap..
Last time strong usd also cannot make good profit..
lowest point period director also no buy back share..

Up? Still possible geh.. purely goreng type penny stock for me..

Posted by dompeilee > 2019-04-14 18:00 | Report Abuse

In fact, I posted the performance of his last 3 recommendations on my blog(see my profile for link) : Master, Danco & HoHup.

KYY, calvintan, bonescythe...all the same MO!

In fact, before the SC closed bonescythe's blog down for proven PUMP & DUMP activities, he always signed off with 'Have A Nice Day!'

Bursamaster : 'Happy Weekend' lol

Posted by dompeilee > 2019-04-14 18:05 | Report Abuse

Pls la ppl...use yr brainzzz...who would bother taking the trouble to write a long blog just to help you put $$$ into yr pocket?

Isn't it more likely they're helping themselves put your $$$ into their pockets?

Sianzzzz...Genneva, JJPTR all the same...target naive newbies.

Posted by Investhor > 2019-04-14 18:26 | Report Abuse

Bursamaster has experience in KLSE since 1976..if he has done bad to others then he woild not have many followers and views on his blog

If you think you’re so great please writeup articles here for the public to see and evaluate (and lets see if your article can hit number 1) instead of just shooting down other people’ opinions =>

Posted by dompeilee > 2019-04-14 18:36 | Report Abuse

lol bonescythe had plenty of followers from 2012-2017 too...but what happened to him? =)

Posted by dompeilee > 2019-04-14 18:37 | Report Abuse

Do you know Bursamaster personally? He claim to be in KLSE since '76...you believe him even though you can't verify? Shows how naive you are...

Posted by Investhor > 2019-04-14 18:40 | Report Abuse

bonescythe..5 years

bursamaster..42 years..dun think its a correct comparison..counters recommended (danco, hohup, samchem, master and others) all possess good fundamentals and are on bullish bias

did he recommend any falling knives? nope..
did he recommend any pn17 or loss making companies? nope..

like i said..if you're so good..why not u write and let's see how you perform

Posted by dompeilee > 2019-04-14 18:46 | Report Abuse

Hmmm...where shall we start? How about here on the Huaan thread :

dompeilee > Sep 26, 2016 12:36 PM
Bought 6 digit number of shares @ 3.5c

dompeilee This one will be one of the BIGGEST % gainers in the next couple of months...Catch it while it's still below 10c! :D
21/02/2017 09:57


I'm not in the habit of writing blogs on i3. But you can visit my personal blog to see how my recommendations did. And because I have a client base, I reserve my best material for their benefit, not any old tom dick & harry!

Posted by dompeilee > 2019-04-14 18:48 | Report Abuse

A more recent call on the KKB thread:

dompeilee Bought 10,000 KKB @ 90c
17/08/2017 18:03

Bought more KKB @ 99c
14/02/2019 9:23 AM

dompeilee I expect a blowout profitable quarter! Stock up, ppl!
14/02/2019 9:33 AM


Btw, I'm just pointing how his recommendations performed(see the blog link in my profile) immediately after the blogs were posted. What you make of the data is all up to you, but I smell a scam.

Posted by Investhor > 2019-04-14 18:52 | Report Abuse

i have read your blog..you only post 1 article every 1-2 months..not consistent..

if you have a client base..then i only see your negative comment on other's articles as if you wanting to prove yourself better than them so that you may gain clients for your own benefits

so i would suggest that instead of you shooting down other people who are more established than you, you should do your writeups here and prove to the community on your track record..outside blogs don't mean anything because we can't see how well viewed your article is..

come on..take the challenge if you're as good as you say

Posted by dompeilee > 2019-04-14 18:58 | Report Abuse

I invested in a stock(Huaan) that did better for me than BitCoin in 2017. I have nothing to prove to anybody, even though I have only been in the market for a quarter century =)

I share my view on so-called charitable stock recommendations. I called KYY out as a conman long before most ppl finally woke up to that fact...I also called bonescythe out as a scammer way back in 2012. SC only caught up to him recently.

If you put your own $ on the line, I can guarantee you I can write a blog about any stock I researched thoroughly that will rival any blogger on i3, or even exceed them!

Posted by Investhor > 2019-04-14 19:00 | Report Abuse

let's see you write the article then..walk the talk..i am willing to put my $ on the line for it..let's see it

Posted by dompeilee > 2019-04-14 19:07 | Report Abuse

I have recommended AHB as a speculative play to my clients for some time already...in fact, I already knew the warrant expiry game was likely to be played many weeks back, proved by my post that I bought AHB-WB @ 1c.

If I were BOTHERED to write my own blog on AHB, I would point out things that Bursamaster MISSED:

-The co. undertook two share placements of 16.030 mil shares in Oct '17 @ 30c that probably explains how EPF became a shareholder

-Mirzan Mahathir was a longtime shareholder, until he sold out at the time of the last rights issue.

-The co. only benefits to the tune of 300,000+ to its bottomline for every 5% rise in the US$ vs the RM

-Its cash levels have more than halved in the last 9 months

etc etc