Posted by smartly > 2017-09-20 15:36 | Report Abuse

tomorrow huat liao.... :)

Posted by ChloeTai > 2017-09-20 16:58 | Report Abuse

Let's say an investor owns 1,099,000 shares of AEONCR-LA.
1,099,000/10.99 = 100,000 AEONCR shares.
Let RMy be the intrinsic value of AEONCR-LA.
y X 1,099,000 = 100,000 X RM12.92.
y = 1.18
Hence, the intrinsic value of AEONCR-LA is RM1.18.

If 5% premium is given to the mother share, i.e. [(100 + 5)/100] X 12.92 = 13.57, then
y X 1,099,000 = 100,000 X RM13.57
y = 1.23

Posted by ChloeTai > 2017-09-20 17:00 | Report Abuse

Mother(RM) Premium(%) LA(RM)
12.92 0 1.18
13.05 1 1.19
13.18 2 1.20
13.31 3 1.21
13.44 4 1.22
13.57 5 1.23
13.70 6 1.25
13.82 7 1.26
13.95 8 1.27
14.08 9 1.28
14.21 10 1.29

Posted by stulai2008 > 2017-09-20 18:16 | Report Abuse

hi smartly, can u explain y huat liao? thanks

Posted by smartly > 2017-09-20 19:17 | Report Abuse

aeoncr-la listing tomorrow, bought at 14sen

aeoncr-la will list at 1.18.

Posted by smartly > 2017-09-20 19:18 | Report Abuse

profit. !!!

Posted by Gerald > 2017-09-20 20:59 | Report Abuse

smartly, if it listed at 1.18 tmr, u only make a profit of 4 sen per share, how to huat?

Posted by Ultramen > 2017-09-20 22:45 | Report Abuse

will hv a little premium la, those goreng kaki like to goreng ma.
may be got 2 cents premium, haha.

Posted by pputeh > 2017-09-21 08:53 | Report Abuse

Big day today lets see performance of Aeon Cr & LA

Posted by smartly > 2017-09-21 09:42 | Report Abuse

aiyoooo, keep for dividend liao.... :p

Posted by huiyi > 2017-09-21 12:05 | Report Abuse

correct me if I am wrong, ignore the premium, let say
aeoncr price is X, aeoncr-la price is X/10.99,
after that aeoncr price change to Y, aeoncr-la price is Y/10.99,

% different in price for
1) aeoncr = Y/X
2) aeoncr-la = (Y/10.99) / (X/10.99) = Y/X

Thus, I see no gearing and no advantage buying aeoncr-la after listing except the 3.5% interest.

Posted by ChloeTai > 2017-09-21 12:32 | Report Abuse

Disappointed with the poor debut of AEONCR-LA. Sold all with a small profit of RM3270.84.

Posted by Billsoon > 2017-09-23 06:13 | Report Abuse

Ufj (MUSG) 卖出 4.6% cimb 全部股份。。。
日本人会支金收回归他国，因为朝鲜又要，，，，
这个是个人看法，但怎样都是要逢低价就买进。
若是aeoncr他们也卖出，我们就机会低价在加买进。
只是share²,谢各位不要在意。

Posted by pputeh > 2017-09-24 21:42 | Report Abuse

Have sold off all my LA @ 1.18 and bought into the mother share @ 12.76. Div wise a bit less but chance off capital appreciation of mother share . Have been sitting on this stock since 2010. Very good returns

Posted by Activeinvestor > 2017-10-03 09:39 | Report Abuse

Switching my holdings to Petronm
-------------------------------------------------------------------------------------------------------------------------------
Extract of Analyst Report from RHB

Petron Malaysia

Fuel Happy

We initiate coverage on Petron with a BUY recommendation. Our TP of MYR16.20 (60% upside) is based on a 12.5x FY18 P/E. The company owns over 580 service stations nationwide, distributing gasoline, diesel and LPG products. Petron also owns an 88,000bpd refinery in Port Dickson, Malaysia with a Nelson Complexity Index of 3. We believe the refinery would provide the company with a competitive advantage, thereby enabling it to take advantage of refined product spreads.

Third largest retail station operator in Malaysia. Petron Malaysia (Petron), a major fuel retail distributor in Malaysia, has the third largest market share in the country behind Shell and Petronas Dagangan (PETD MK, NR). It owns over 580 service stations nationwide, distributing gasoline, diesel and LPG products.

Besides retail marketing, the company also owns an 88,000bpd refinery located in Port Dickson, Malaysia with a Nelson Complexity Index of 3. The refinery is capable of producing gasoline, diesel, liquefied petroleum gas (LPG), kerosene and low sulphur waxy residue (LWSR). The refinery has an average utilisation rate of c.50% due to the unfavourable economics of LSWR which, in turn is due to its low complexity rate. The company is 73.4%-owned by Petron Corp, the largest oil refining and marketing company in the Philippines.

The refinery could provide alpha. Its retail fuel segment plays a volume game, ie the more retail stations imply a higher volume. As such, we expect its retail volume to grow by c.4% each year, driven by the opening of new stations. Our base case scenario assumes Petron would open 15 new stations every year. Its commercial fuel segment earnings are driven by spreads for naphtha, kerosene and LSWR. We expect spreads for naphtha and kerosene to range between USD2-7/bbl for the long term. As such, we believe the commercial fuel would provide the company with a higher earnings growth potential, compared to that of its peers.

Healthy balance sheet. As of 1H17, it is a net cash company; we expect Petron to end FY17F in a net cash position. Total borrowings are at MYR66.4m, while its cash position is at MYR156m. This is comparable to the situation at the end-FY16, when it was in a net debt position of MYR136m. Net cash from operations and free cash flow has been on an increasing trend, attributed to better cost management as well as the asset performance mechanism (APM), which transmits changes in oil prices to retail fuel prices.

BUY. We initiate coverage on Petron with a BUY recommendation, supported by a TP of MYR16.20. We arrive at our TP by pegging a 12.5x P/E to FY18F EPS of MYR1.30. As a comparison, Petronas Dagangan is trading at 24.6x P/E for FY18, at a 70% premium to Petron. We like Petron as we believe its retail fuel segment would provide a stable base of earnings due to the APM mechanism, while its commercial fuel segment would provide an earnings boost, an advantage the company holds over its peers due to its refinery.

Posted by Jon Choivo > 2017-10-03 21:02 | Report Abuse

The LA should never trade at a premium or deficit to the mother, since it can be converted at any time.

If its at a discount, people will buy the LA and convert to mother. If its at a premium, people will sell because its overpriced and has a lower div yield than the mother to begin with.

So basically, the play is this. whenever it is trading at a deficit, buy and keep.

Posted by smartly > 2017-10-05 19:04 | Report Abuse

dividend 21.13sen

Posted by smartly > 2017-10-05 19:05 | Report Abuse

profit up 29%, however eps drop due to dilution ?

Posted by Alex Foo > 2017-10-06 09:14 | Report Abuse

tp 13.5 @ PE10. LA

Posted by Alex Foo > 2017-10-06 09:15 | Report Abuse

LA TP 1.22

Posted by hong2166 > 2017-10-06 11:36 | Report Abuse

I think aeoncr still got room to go up . There is an article saying salary worker whose paid is lower than 5k is very difficult to get loan from bank . They have to get loan from other channels , one of them is aeoncr . Aeoncr revenue and profit has been up continuously since listed , it is a miracle and not many company can do that . I put most of my asset into this company . Wish it will go up to 20.00 in near future

Posted by hong2166 > 2017-10-06 14:10 | Report Abuse

@smartly , EPs is recalculated based on the recent bonus issue . Thanks

Posted by jeckcw > 2017-10-06 17:52 | Report Abuse

single digit PE, double digit growth ,wide business moat with margin of safety

Posted by Alex Foo > 2017-10-06 23:18 | Report Abuse

easy la. aeoncr business moat is strong. why? u see the facebook. all customer want to get loan but kena rejected. some even kena rejected 5 times and still returning. some grumble also, but still need cash la.

aeoncr is in a very good position as micro financing institution. infinitely better than along. Many who bought motor also subscribe to aeoncr also =)

and ah, aeoncr still pending opening branches, and i m still waiting them to open it in my town. Business, you guess. See the sales and you know d. See the roe and you know d. See the PE, yes single digit. =)

If Lynch is here, he will scold me why i didn't sapu aeoncr. haha

Posted by I LOVE Hengyuan, SEXY BABE RM21 > 2017-10-06 23:21 | Report Abuse

Actually....Tht day. I pay my credit card. To my surprise , aeoncr is the terminal provider....Instead of banks.... Competition fierce

Posted by keong90 > 2017-10-09 09:25 | Report Abuse

is conversion price of LA to mother share based on this calculation? 1.15+10.99 = 12.14 per share which is undervalued?

Posted by kksk123 > 2017-10-09 10:29 | Report Abuse

@keong90 the calculation is Mother share price / conversion price = LA price

Posted by keong90 > 2017-10-09 10:36 | Report Abuse

@kksk123 thank you. based on your calculation, the LA is still undervalued.

Posted by Alex Foo > 2017-10-10 14:45 | Report Abuse

LA no brainer. kasih dia 11 for easier calculation.

Sapu 11 lot LA = 1 lot AEONCR

Posted by smartly > 2017-10-11 15:36 | Report Abuse

if convert la to mother
11 la = 1 mother, means you pay LA = 11 x 1.16 = 12.76
and Mother = 13.14
straight away you make = 13.14 - 12.76 = RM0.38
after ex-div, mother adjust to 13.14 - 0.22 = RM12.92, overall still make even after ex-div.

sapu........LA

Posted by smartly > 2017-10-11 15:56 | Report Abuse

in other word, LA trade at a discount currently...
sapu......wait no more.... :)

Posted by jeckcw > 2017-10-11 16:55 | Report Abuse

micro finance is better than commercial finance,because of it low level of default and higher interest,u can check Muhammad Yunusresearch on micro finance for noble reward

Posted by Alex Foo > 2017-10-11 16:56 | Report Abuse

i dunno la. 10.99 so confuse so i just apply 11. but, must take note also. mother got div, LA got interest, and div is more currently.

But i poorfag, no choice can only sapu LA

Posted by Alex Foo > 2017-10-11 16:57 | Report Abuse

btw, how do i receive interest from my LA? and when to receive it? terus bank in my account?

Posted by hong2166 > 2017-10-11 17:05 | Report Abuse

Hi alex , I think you can call and ask aeoncr registry company .

Posted by pputeh > 2017-10-11 21:51 | Report Abuse

LA just like any other share. they will pay you the interest yearly 3.5% either by cheque or electronically into yrbank ac.

Posted by Guardize > 2017-10-11 22:22 | Report Abuse

actually how to apply conversion if i buy la already? thanks

Posted by Alex Foo > 2017-10-12 09:25 | Report Abuse

u see, ppl realise liao lo, starting to parking 1099 LA lot queue buy....

Posted by Kensington > 2017-10-12 13:22 | Report Abuse

Guardize, request by email and download LA Conversion Form from Symphony. Avoid odd lots of mother share in your conversion by buying multiples of 1100 LA shares. Doubtful whether you can convert in time to rank for the interim dividend of 21.13 sen. Please check with Symphony.

Posted by smartly > 2017-10-12 13:52 | Report Abuse

ex on 17/10. i doubt it.

Posted by Alex Foo > 2017-10-12 15:59 | Report Abuse

LA can be treated like a bond as well. In worst case scenario when aeoncr mother share no longer pay div, those LA holder will still enjoy 3.5% interest.

Posted by Alex Foo > 2017-10-12 15:59 | Report Abuse

not a bad choice to park your money here, it acts just like fixed deposit.

Also, one must do homework to check aeoncr's fundamental to see whether the company is getting better 3 years from now =)

Posted by Alex Foo > 2017-10-12 16:00 | Report Abuse

btw, when will aeoncr expand in sarawak ah?

Posted by Alex Foo > 2017-10-12 16:02 | Report Abuse

im thinking of taking aeoncr loan to buy back its mother share, can ah? haha....monthly interest 1.5% only....capital appreciation is more than that =D

Posted by hong2166 > 2017-10-13 00:18 | Report Abuse

Alex, it will be very high risk if you do so. Yearly rate is 18%, and that is the not the nett figure, you may end up paying more than 18% if it is daily res. You will ended up gain nothing or lost a lot if market reverse.

However, housing loan may be the cheapest loan available. You can think of that if you can refinance your house

Posted by hong2166 > 2017-10-13 00:20 | Report Abuse

1,150,631 shares have been created as per today announcement. That worth around RM15 million, i believe is around 10% of total loan stocks. Seems like many people can't wait and convert asap. Good for long term but bad for short term.

Posted by smartly > 2017-10-13 11:26 | Report Abuse

those convert is to rush for the dividend...

Posted by smartly > 2017-10-13 11:27 | Report Abuse

maybe is a good move but i think it is too late now.
won't reach in time for the dividend

Posted by smartly > 2017-10-13 11:28 | Report Abuse

keep for long term :)

Posted by smartly > 2017-10-13 11:38 | Report Abuse

you miss this dividend now, you can aim for the 3.5% coupon which needed to wait a bit longer...
the equivalent shares is as follow....

1000 shares of mother = RM21.13
10990 LA = 10990 x 3.5% = RM384.65

which one better ?