Posted by klee > 2023-11-30 13:39 | Report Abuse

Nevermind.We have to understand calvin's tsh did not participate in this year end rally.Let him be hahaha.In fact tsh did NOTHING in the past 1.5 yrs.

Posted by gohkimhock > 2023-12-01 10:39 | Report Abuse

Just ignore that mad dog Calvin. He doesnt understand accounting at all. Just use his own interpretation to his own liking. Experienced stock traders can tell you that why some stocks are selling cheap. THPlant is selling cheap for a reason. Unlike KGB, THPlant has no room for growth; Looking back at the previous 5 to 10 years, THplant had actually gone backwards. Analyse it youself. Whereas KGB is going from strength to strength, be it B/S, P&L or cash flow..

Posted by Moolala > 2023-12-01 10:43 | Report Abuse

Calvin has fallen in love with his plantation stocks, although I do hold some oil palm counters for dividend but I don't see much growth in the near future, unless people start drinking palm oil like water

Posted by klee > 2023-12-01 12:28 | Report Abuse

Warren buffett was going no where using his guru Graham's value investing untill Munger introduced him to growth investing...and he bought coca cola.Let this be known to those sifu wannabes.

Posted by klee > 2023-12-01 12:29 | Report Abuse

Kgb = growth stock.

Posted by klee > 2023-12-01 12:31 | Report Abuse

Dunno what is growth stocks? Go google la kikiki.

Posted by calvintaneng > 2023-12-03 09:11 | Report Abuse

Below are extracts from Past Quarterly Reports of KGB



KELINGTON GROUP BERHAD ("KGB")

[Company No. 199901026486 (501386-P)]

Statement of Profit or Loss and Other Comprehensive Income

For The 2nd Quarter Ended 30 June 2022

Trade receivables Rm325,044,000

Other receivables Rm37,469,000



Total Receivables or IOU = Rm382.513 Millions



The 3rd Quarter Ended 30 September 2022

Trade receivables Rm343,453,000

Other receivables Rm68,075,000

Total IOU = Rm411.528 Millions



31 December 2022

Trade receivables Rm384,641,000

Other receivable Rm80,805,000

Total IOU: Rm465.446 Millions



31 March 2023



Trade receivables Rm334,890,000

Other receivables Rm102,703,000

Total IOU : Rm437.593 Millions



30 June 2023

Trade receivables Rm321,366,000

Other receivables Rm85,460,000

Total IOU: Rm406.826 Millions



d Quarter Ended 30 September 2023



Trade receivables Rm380,369,000

Other receivables Rm81,049,000

Total IOU : Rm461.418 Millions



Above shows persistent delay of Full Payments for Work Done by many quarters

How much of these sums will turn into bad debt?

OR are they questionable accounting and book cooking?


https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-12-01-story-h-213383841-THPLANT_5112_at_50_5_sen_Versus_Kelington_0151_at_Rm1_88_Compare_contra

Posted by cgtan2020 > 2023-12-03 15:16 | Report Abuse

@calvintaneng
See the data for Not Due, Past Due < 3 months, 3-6months Due, > 6 monts, > 1 years for the last few quaters.
Not Due Past Due < 3 months 3 - 6 months 6 month to 1 year > 1 year Imparied Total
Q1 2022 $128,586,000 $24,820,000 $163,000 $1,010,000 $5,020,000 $9,564,000 $169,163,000
Q2 2022 $283,487,000 $42,935,000 $1,225,000 $83,000 $2,114,000 $9,690,000 $339,534,000
Q3 2022 $289,354,000 $55,560,000 $1,127,000 $1,137,000 $1,355,000 $9,608,000 $358,141,000
Q4 2022 $323,139,000 $61,066,000 $3,139,000 $2,497,000 $9,564,000 $399,405,000
Q1 2023 $294,701,000 $37,154,000 $4,119,000 $1,771,000 $9,564,000 $347,309,000
Q2 2023 $303,981,000 $14,220,000 $1,704,000 $4,210,000 $11,115,000 $335,230,000
Q3 2023 $354,835,000 $18,962,000 $6,530,000 $2,794,000 $12,156,000 $395,277,000

The worse impairment will be the 12millions due > 1 year. When business grow bigger, revenue higher, of course there will be more receivable. As long as you can collect it without affecting cash flow, you are ok. At one point they will need to impair the 12millions.

Posted by cgtan2020 > 2023-12-03 15:18 | Report Abuse

These data is from section B.12 of the quarterly report.

Posted by calvintaneng > 2023-12-03 15:45 | Report Abuse

Section B. 12 has been reporting since June 2022 till now with every single qtr after qtr for 6 consecutive qtrs of high Receivables (Ioi) over Rm400 millions

This kind of Receivables is suspect

Plus all these are Iou papers in hand

Cash can barely cover borrowings

The red flags are these

1. Rm255.8 millions contract liabilities

2. Trade payables Rm188.9 millions

3. Other payables Rm62 millions

All these add up to over half billion time debt bomb 💣

Posted by 2Invest > 2023-12-03 19:54 | Report Abuse

Thank you Calvin for highlighting the "potential risks". It is a huge jump from previous years of 100m to 400m.

Growth of revenue & receivables stay at about the same ratio.

Will stay cautious, need to monitor their impairment also.

Posted by cgtan2020 > 2023-12-03 20:22 | Report Abuse

@calvintaneng with yearly revenue of nearly going to be RM1.5 Billions and with TOTAL overdue payment of RM28Millions. Impairment of RM12Milions. NOT OVER DUE amount of RM354,835,000. I think the collection is not an issues here. When Revenue growth, receivable will growth, it will take time normalize the amount to a stable value. I don't see significance increase for the last 4 quarter on the receivable side. KGB is growing at ROE of 27% now. With latest cash balances of 188,178,000, compare to 1 year ago cash balances of RM82,451,000.

Posted by calvintaneng > 2023-12-03 20:37 | Report Abuse

Latest cash Rm188,178,000?

It was from from more bank borrowings of Rm216,000,000 which will incur bank interest

There is NO CASH Generated from operation except Receivables (IOUs)

Posted by calvintaneng > 2023-12-03 20:44 | Report Abuse

As for "profit" from Singapore also highly suspect as Wks Gas Singapore has a strong monopoly in Singapore market. I think they are 3 to 5 times more efficient than any competition from outside Singapore context. And China Jin-Hong Gas suffered losses in the current downturn in China

The Rm420 millions job supposed to finished by End 2022 also unaccounted for. Plus we also got no idea what Company Kgb is dealing with as it is shrouded in secrecy

I would never invest in such opaque non transparent Co

Posted by cgtan2020 > 2023-12-03 21:38 | Report Abuse

@calvintaneng page 4 of the latest Q3 2023 result on the cash balance at end of period.

Posted by calvintaneng > 2023-12-03 22:52 | Report Abuse

Why you overlooked page 2?

there are non current plus current loans amounting to Rm216 millions (cash on hand insufficient to cover debt ) and then there are liabilities/payables Rm506 millions (also not enough coverage by Receivables)
a cash call can come soon

Posted by cgtan2020 > 2023-12-04 06:38 | Report Abuse

@calvintaneng When you have contracting UHP facilities value of several hundred million per quarter, expected to have high current liabilities, if you look at overall picture, gearing(times) actually reduced from 1.01 to current level of 0.73. Long term is increase due to the construction of 2 LCO2 plants, which will be the next cash cow.

Posted by calvintaneng > 2023-12-04 07:16 | Report Abuse

What cash cow? Even now also cannot collect present cash as it is sitting on high Receivables (IOU papers; no cash)

And it will need to either borrow or give out Rights issues to ask for more monies for building.
No guarantee as Malaysia now signed special trading agreement with Asean and China

They can dump cheaper UHP Gas to compete. Even Opcom homegrown fiber optics got hammered by Huawei optic fibers dumping at cutthroat prices and Opcom has to divert its business model

Better wake up and don't be a frog in the well

Posted by calvintaneng > 2023-12-04 09:17 | Report Abuse

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-12-15-story-h1595602911-TOP_10_VALUABLE_INVESTMENT_SECRETS_MY_JOHOR_SIFU_TAUGHT_ME_5_RIDING_ON_

Posted by calvintaneng > 2023-12-04 09:18 | Report Abuse

4. RECEIVABLES IS NOT CASH


This was when I bought into Megan Media at around 67.5 cents. From

the Balance Sheet Megan Media showed a P/E of only 3. NTA at over

Rm2.00. It also pay a small dividend.

So many have been tricked by the “blue ray” disc hype touted by

Megan Media Bosses. However, My Johor Sifu stood his ground &

rejected buying into this popular stock which so many others bought.



Why? He questioned the High Amount of RECEIVABLES In Megan

Media’s Accounts. RECEIVABLE IS NOT CASH. What is CASH Then?

According to my Johor SIFU The Smart Accountant, “CASH IS ONLY

CASH IF THE CASH IS RECEIVED AND DEPOSITED SAFELY IN

THE BANK”.





Being not sure I still held on to my Megan Media shares and watched it

carefully. Then one day to my surprise, I saw Insider selling 3 million

Megan Media shares! And then they unloaded another 5 million shares!

Insiders are bailing out!! The pilots are parachuting!!



Straight away I called my Remisier to sell off every Media Megan

shares at 66 cents for a small loss. Next day to my chagrin Megan

Media even rose to touch 70 cents. If only I had sold one day later?

Then I would have made some profit? Why the hurry? Weeks passed.

Then one day the horrendous result came out. Megan Media went limit

down!


It plummeted to just over 30 cents. One Mr Teh thought it was bargain

time & loaded up. Loading up falling knives? Megan Media went

bankrupt and got delisted. It was found out later that all the Blue Ray

Disc Factories were non existent. RECEIVABLES WERE ALL FAKE OR

FICTITIOUS.

Posted by gohkimhock > 2023-12-04 10:25 | Report Abuse

Calvin said that receivables are not cash. True. That's why it had been taken out from the cash flow statement. It had been minus out. Go ask your accountant friend to teach you how to read a cash flow statement. Inside a cash flow statement, whatever is not cash, will be adjusted accordingly. We will add back depreciation (which is an expense that is not cash), stock purchases which will be using cash, hence it will be minus out, receivables which are not collected as yet - will be minus out too. The whole cash flow statement is there for you to read. The thing here is whether you know how to read it or not, or simply plucking a certain segment and then interpreting it in your own way..

Posted by gohkimhock > 2023-12-04 10:38 | Report Abuse

If you look at Eversendai AR, its cash flow statement was actually negative. That's what killed the company.

KGB is a healthy with company with a positive cash flow, and increasing revenue and earnings. So go buy this counter as it might be the counter for the year 2024 (assuming there are no changes to its outlook).

Posted by SEERESEARCH2023 > 2023-12-04 12:04 | Report Abuse

Well, whatever the performance of company. Keep promoting every now and then with all the attractive points , while no negative comments form this fella. Dont u know that this is typical obvious act that they try release their tickets to ikan bilis?

Posted by handsomejs > 2023-12-04 12:11 | Report Abuse

How new high d , still worth to buy?

Posted by cgtan2020 > 2023-12-04 12:21 | Report Abuse

@calvintaneng time will tell whether you are right or not.

Posted by calvintaneng > 2023-12-04 13:07 | Report Abuse

Sure
Time will always tell

Over a short term the share market is a voting machine. But over a longer term the stock market turns into a weighing machine

Posted by calvintaneng > 2023-12-04 16:54 | Report Abuse

Finally

Blind_Research who brought ikan bilis, newbies, water fish, sotong, sardines to chase Kgb have been trapped at penthouse

Posted by calvintaneng > 2023-12-04 17:22 | Report Abuse

Blind_Research can only see small faults

Big Wins he cannot see

1. Super Enterprize
buy call Rm1.28
taken private Rm3.80
up 200%

2. Tmakmur -:land of prosperity

buy call Rm1.30
Pahang Royalty took private Rm1.90
up 38%

3. Kulim buy call Rm2.50
jcorp took private Rm4.10 (up 60%)

4. karambunai
buy call 6 sen
after it dropped half sen to 5.5 sen many cry father cry mother
then kbunai taken private at 11 sen (up 100%)

5. Ijm plant
buy call Rm1.88
Klk took private Rm3.10
up 65%

6. Bplant (certainly no pebble)
buy call 57 sen
dividend 24 sen
real time cost 33 sen
LTAT takes private at Rm1.55
Up a whopping 369%

7. Kwantas was 50:sen
taken private Rm1.65
up over 200%

8. Daiman (diamond)
Rm2.20 taken private Rm3.00
up 36%

Posted by calvintaneng > 2023-12-04 17:23 | Report Abuse

already made 1000% since 2013 till now

100% gain per year for last 10 years yearly gain

Posted by calvintaneng > 2023-12-04 17:24 | Report Abuse

humbly acknowledge

Warren Buffet 25%
Peter Lynch 29%

beaten both at 100%
😎

Posted by calvintaneng > 2023-12-04 18:02 | Report Abuse

Calvin = call win

Not only told all to buy winning stocks

Also gave warning on Mmag, Gpacket
Sendai
Serba
Jaks


All warned to sell at Rm1.60

Now 4 crashed below 10 sen and Jaks (jaws) to 20 sen

Posted by gohkimhock > 2023-12-05 11:52 | Report Abuse

limit up coming?

Posted by Ravi Kumar > 2023-12-05 13:17 | Report Abuse

New high again

Posted by davors > 2023-12-05 15:07 | Report Abuse

still look very strong~

Posted by SEE_Research > 2023-12-05 15:44 |

Post removed.Why?

Posted by SEE_Research > 2023-12-05 15:46 |

Post removed.Why?

Posted by SEE_Research > 2023-12-05 21:19 |

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Posted by SEE_Research > 2023-12-05 21:28 |

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Posted by SEE_Research > 2023-12-05 21:31 |

Post removed.Why?

Posted by SEE_Research > 2023-12-05 21:33 |

Post removed.Why?

Posted by 2Invest > 2023-12-06 09:40 | Report Abuse

Dear All;

Let's make this forum a healthy & positive forum. We can have diff views & respect viewpoints of others.

As an investor I believe we all made mistake before/now. WB made mistake, locally Mr Foong, Mr Koon & Mr Tan Teng Boo also made some mistake. That's fine.

It's ok to have arguments, but be constructive & no personal attack. That's bad for body & bad for soul

Posted by calvintaneng > 2023-12-06 09:51 | Report Abuse

2Invest is 💯 correct

Posted by OTB > 2023-12-06 09:53 | Report Abuse

No point to continue argue here.
I just hope that all people here must be professional, no personal attack.
In actual fact, it is so difficult to read all the information here.
I just piece off, I sold all the stocks today in this forum to take my big profit here.
Please continue to argue and fight so that the share price can drop further, the best is limit down.
Please be professional, overall you must make a lot of money.
Argue without facts and figures will not make you super rich.
Ask yourself honestly, do you make million even you win the argument or fight ?
Will your bank account showed million profit so far ?
Please stop all the arguments, post your articles with facts and figures, I like to read all facts and figures to justify your selection.
Thank you.

Posted by calvintaneng > 2023-12-06 09:56 | Report Abuse

Agree with Sifu OTB

THE RASCAL FAKE ACCOUNTANTQQQ3 WHO ATTACKED SIFU NOW BANKRUPT

Posted by calvintaneng > 2023-12-06 10:07 |

Post removed.Why?

Posted by calvintaneng > 2023-12-06 10:08 | Report Abuse

Correction
Not 2023 but 2013

Posted by SEE_Research > 2023-12-06 11:32 |

Post removed.Why?

Posted by SEE_Research > 2023-12-06 11:32 |

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Posted by SEE_Research > 2023-12-06 11:35 |

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Posted by SEE_Research > 2023-12-06 12:18 |

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