Posted by DUnkin > 2012-09-05 17:06 | Report Abuse

haha...carrot...i buy on the top of mountain...1.45

Posted by jacklintan > 2012-09-05 17:09 | Report Abuse

@DUNkin- can start to dispose slowly...lah..no need one shot.

Posted by jacklintan > 2012-09-05 17:09 | Report Abuse

if you guys remember MUHIBAH....JCY repeat it's history again

Posted by yus7888 > 2012-09-05 17:10 | Report Abuse

KC Loh: Actually the impact of Malaysia min wage not going to have big impact to Huge Factory, as now the workers allowance already transform to the wages(mean allowance become less, wage higher) for lots of big plant like JCY, Sharp, samsung, Recron, WD their OT rate not x1.5 but higher compare to labour law, now there are going to adjust it to have same rate (adjust lower compare to current)according to the labour Law. The impact is far far less than expected for the huge factory

Posted by Survivor > 2012-09-05 17:11 | Report Abuse

145?? Still holding?

Posted by DUnkin > 2012-09-05 17:12 | Report Abuse

yes...still holding part of it.

Posted by yus7888 > 2012-09-05 17:13 | Report Abuse

You have to greedy when exerybody is panic, i m greedy now

Posted by Mat Cendana > 2012-09-05 17:14 | Report Abuse

An encouraging end to JCY. There was no fundamental reason for it to have gone down this much today beyond sentiments. So, there's the likelihood it will retrace the fall tomorrow. The -CF closed at 0.05 and if there's momentum tomorrow, 0.07 isn't impossible. If that's the case, I think I'm going to be a bit greedy and make the TP +3 sen. Didn't buy many lots earlier so will have to make up with this higher TP.

Posted by jacklintan > 2012-09-05 17:17 | Report Abuse

@yus7888, hope you're greediness is right. Good luck.

Posted by Mat Cendana > 2012-09-05 17:19 | Report Abuse

Muhibbah is a different story. With it, the problem is the money owed by Asia Petroleum Hub project - RM300 million if I'm not mistaken. Before this, Muhibbah was doing well - it still is but this matter is dragging it from rising. In JCY's case, it is due to *projections* of investors and analysts that the lower HDD parts demand will result in lower profits or even a loss in the next quarter. But we must also remember that the management isn't sitting still and waiting to be swamped by market forces. At least I hope they aren't. Minimum wage etc. - any good company will have plans on dealing with the problems and situations.

Posted by KC Loh > 2012-09-05 17:23 | Report Abuse

thanks yus7888. That is insightful about the wages policies.

jackintan, yes i monitor the stock on full time basis always trying to look for good bargain.

i am of the opinion, from my unlearned investment trait, that this stock at this current price (0.95)is at a significant discount of 17-18% to its FV. its definitely a hantu play by the IBs.

Posted by KC Loh > 2012-09-05 17:24 | Report Abuse

Mat Cendana, eloquent as ever! Thanks. hehe

Posted by KC Loh > 2012-09-05 17:45 | Report Abuse

celaka.... somehow CIMB's bad name appears in the link below as if to remind investors where the nonsense started! thanks to the posting by weiboy90. Nazir should tell his boys to behave themselves, and even the market houses said the FV is around 1.20 howardbach's postings on 24th august becomes the reminder to what CIMB is, and to quote the legendary TS P Ramlee : dia orang punya hati banyak busukkkkkkkkkkkk! :)

http://www.theedgemalaysia.com/business-news/219785-jcy-plunges-on-operation-of-market-makersinstitutions.html

Posted by stock5678 > 2012-09-05 17:49 | Report Abuse

i think more to drop. stay calm to watch

Posted by KC Loh > 2012-09-05 18:04 | Report Abuse

i think one more day for the IB to play tomm. Hopefully market is wiser now after reading the facts!

Posted by azta12 > 2012-09-05 18:27 | Report Abuse

KC thumb ups,I do get some at 0.895 and 0.90.it got nothing to do with the fundamental now. obviously a play by the IB. I will throw at 1.10 and korek again if it slide below 0.85.

Posted by super911 > 2012-09-05 18:33 | Report Abuse

Share buy back by JCY. 4.8mil shares bought back at 935-950. Now the reason why it plunge has finally appeared.

Posted by KC Loh > 2012-09-05 18:59 | Report Abuse

Azta12, you will be glad to note JCY still pays you a THIRD INTERIM dividend this month despite (in all probability is) CIMB's claim that the accounts are rigged. They must have thought a lot of stupid people will fall for their lies and to tarnish the image of the giant auditing firm! They will probably will deny it! hope someone catches them on 3GP or something like that to pass it to Ernst & Young as well as the SC. I hope CIMB loses a lot because of their unbecoming behavior!

you got in at a good price, so you may want to wait for a fourth & probably final dividend on the way. This counter will probably rise back to its value after all the nonsense is blown away. I still have this counter at FV 1.12 with prospects of dividend and capital gain! All the best!

Posted by KC Loh > 2012-09-05 19:01 | Report Abuse

super911, share buyback should not cause share price to plunge. In fact, the management is wise to put good use of their reserves to purchase treasury shares at the current price where the hantus are playing!

Posted by super911 > 2012-09-05 19:08 | Report Abuse

KC: You won't be surprise if the company press down their own share price to do the share buy back. Look at YTL for example.

Posted by KC Loh > 2012-09-05 19:14 | Report Abuse

granted that, but using what funds? Anyway, i do like your line of thinking, super911 :)

suspicion is still institutional retailers at work, in this case an IB! started since August!

Posted by Dr Howard Bach > 2012-09-05 20:01 | Report Abuse

Friends, still remember me?

Posted by Dr Howard Bach > 2012-09-05 20:01 | Report Abuse

I have warned you guys 2 weeks ago, unexpectedly, it is worsen than I expected.

Posted by Dr Howard Bach > 2012-09-05 20:05 | Report Abuse

Indeed it is oversold. But CIMB and Ambank are going to push the price down further. This is latest updates from my source. They have a big plan earlier on. They issued so many CA and now exercise date is approaching. One thing to think, why they have so many shares to sell? Founding shareholders are lending them shares to create win win situation :-

1. IB & founding shareholders make some profit from ups & downs

Ultimately,

1. IB avoids loss on warrants

2. Founding shareholders intend to privatise the company at 0.60.

Let us discuss again 2 weeks later, no point arguing now. Good luck guys.

Posted by Fat Cat Tim Buddy > 2012-09-05 20:14 | Report Abuse

osk-CE - 22/3/2013
osk-CI - 17/12/2012
osk-CL -12/11/2012

cimb-CG- 29/11/2012
cimb-CH- 29/3/2013

maybank-CJ- 31/1/2013

ambank-HA- 28/2/2013
ambank-CF-28/2/2013
ambank-CK-18/3/213

cant believe i mark this all down 3-4 months ago?

i was predict there should be a push of price starting from september, before the november batches of warrants come to mature...

hahaha...

Posted by afar_filhaq > 2012-09-05 20:19 | Report Abuse

weird, why do they exercise share buyback at 0.93 if they plan to privatise at 0.6?

Posted by Dr Howard Bach > 2012-09-05 20:19 | Report Abuse

Fat Cat, you have interest on JCY? Better becareful. It has become target of IB because of various types of warrants issued. It's not a company that can be analysed by fundamentals.

I would say the fair value for 6 months at least lies between 1.40 - 1.80.

One must think what cause it trade at 0.89 to 0.95 if is unbelievable.

I can't understand what my source said initially, now when things develop, I have to listen to them.

Posted by Dr Howard Bach > 2012-09-05 20:26 | Report Abuse

afar,

Share buy back is via shareholders fund, i.e. shareholders money. Your money and my money.

They can knock off the available shares with buyback shares holding in their books. Hence founding s/h will spend less when their offer a complete privatisation at 0.60 in 6 months time.

It is also a measure to boost confidence among common investors, where someone is willing to absorb their shares selling above 0.60 for their own agenda.

Posted by Dr Howard Bach > 2012-09-05 20:27 | Report Abuse

And remember boost confidence with company monies ( Your Money, My Money). I sincerely condemn their action.

Posted by andy118 > 2012-09-05 20:32 | Report Abuse

JCY plunges on "operation" of market markers/institutions= the edge

I don't understand why they need to do this? As I understand most of these call warrants are way out of money even at RM1.20 (most or all exercise price is RM1.50 & above. If JCY does not go up to RM1.50, they also do not lose. Why have to press down JCY borrowing so much shares ? Also have to pay the owners certain percentage for borrowing shares from them.

Posted by Dr Howard Bach > 2012-09-05 20:41 | Report Abuse

Andy118,

Your point is correct and it further triggers my worries.

It is very obvious that privatisation plan is on-going after the Thailand flood,

Sequence of events :-

1. JCY listed via " offer for sales" where JCY's parent YKY Investment owned by Mr YK Yong. 25% of shares are sold and Mr YK Yong pocketed all the money, even not a single cent flows into company for development.

Reason for listings : Founder has foreseen bottleneck of JCY and hence intended to realise their value for the past profit and market condition is good, they claimed themselves one of the biggest HDD maker in Asia. With their great promoter, CIMB, equity analyst report favours JCY with high target price set. PLEASE BEWARE THAT BY SELLING 25%, FOUNDER 75% IS A "FREE" SHARES TO HIM.

2. They slashed their listing size and finally listed. At RM1.60 and selling just 470 million shares, JCY will raise only RM750mil, compared to its target of raising up to RM1.2bil to make the sale the largest tech IPO in South-East Asia since 2000.

3. With 2 quarters of poor earning, JCY quickly dropped to the level and trade at the level of 0.70 - 1.20 for a period longer than 12 months.

Posted by KC Loh > 2012-09-05 20:42 | Report Abuse

yeah Howard. you have logic in what you say. Anythings possible when IBs have to resort to lying prior to this!

but few things still raise doubts in me:

1) if your source(s) is/are reliable, what makes you listen to CIMB in the first place rather than to your current source(s).
witness,
Posted by howardbach > Aug 27, 2012 02:43 PM
http://www.theedgemalaysia.com/business-news/219171-beaten-jcy-recoups-losses-after-cimbs-trading-buy-call.html
Such an irresponsible report from CIMB to say " Trading Buy". It is absolutely rubbish from what I heard from a friend working in CIMB IB.
They are trying to build up buying volumes with their influence and absorb their "related parties" shares where they want to get rid of it..
Bloody IB.

2) interim dividends still coming in

3) share buyback

4) good quarterly reports despite the adversities by the IBs. They should be doing something like Bonia, to show that the company has no hope of surviving with their high general expenses that takes up almost 87% of profit before triggering MGO! They tried that, and was repulsed by the shareholders!


painting a good pix of the company and then mixing with naughty IBs to try privatise doesn't seem to be logical!

sorry, no malice intended. Whilst your sources may be have its reasons to say like that, i think they are still part of the rumour-monger in play here. Probably using this forum to get unsuspected fear out of the investors! Well, at least that's my position.

I may be wrong, but currently from the above, i don't see the management doing as what was alleged!

Posted by Dr Howard Bach > 2012-09-05 20:50 | Report Abuse

4. Then unexpected event, sudden flood has hit Bangkok and supply chain of HDD destroyed. JCY suddenly enter into a exponential growth rate.

5. Our story starts here. Founders and IB understand the situation and start their plotting.

6. When the share prices are up, it is more convincing to issue various warrants due to high demand of these warrants.

7. CIMB, OSK, AM and founders come with the plan. Founders lend them shares with eventually JCY being privatised at 0.60.

8. During the exponential period, all the research reports written favour the company to anesthetise the common s/holders to absorb their holdings.

9. The more volatile the market, the more easier for them to make money.

10. This will eventually make the call warrants issued in their favour. Even for the put warrants, according to their termsheet, clause No.3, Market disruption event, the settlement clause will change.

Conclusion :

1. Who ever who bought call / put warrants will not in their favour.

2. Who ever who analysed using fundamentals will not in their favour.

3. It is in the favour of IB / founder. Look at the big volumes when it dropped from 1.40 to 0.90, it's scary.

Posted by Dr Howard Bach > 2012-09-05 20:59 | Report Abuse

KC, your comment makes sense. Understood that there's no malice intended.

1. My source is still CIMB and their counterparts. They are buying in, selling out when the price is declining, rebound, declining again to pocketed some margin. Hence I condemn them as bloody when all their reports said Trading Buy and even issued a notes to investors to public 2 weeks ago that JCY is healthy after their understanding from the company, and investors should buy from weaknesses.

2. Regarding dividends, share buy back, and comparison with Bonia, I have no comments because I do not know what is their intention.

Posted by kkbee > 2012-09-05 21:03 | Report Abuse

wow, malaysia stock market is really interesting, just like watching movie

Posted by yungshen1 > 2012-09-05 21:04 | Report Abuse

listen to me sell it as fast as possible .tomorow will drop again.

Posted by stock5678 > 2012-09-05 21:09 | Report Abuse

what is IB stand for?

Posted by KC Loh > 2012-09-05 21:12 | Report Abuse

Thanks for the maturity and honesty shown in your reply, Howard. Will still take under advisement to be careful nonetheless!

The expert of KNM is here. So I don't want to take it to another level from here already.

Posted by Mat Cendana > 2012-09-05 21:13 | Report Abuse

Investment Bank

Posted by andy118 > 2012-09-05 21:21 | Report Abuse

IB = licensed robber

Posted by Fat Cat Tim Buddy > 2012-09-05 21:34 | Report Abuse

Dr Howard Bach , your missing out one important key element...

11. LAMKEN ;p

Posted by stock5678 > 2012-09-05 21:39 | Report Abuse

IB not LR right?
Intelligent Buster? just kidding

Posted by Chyleglat Thomas > 2012-09-05 22:57 | Report Abuse

sell, sell, sell ...ntp .85

Posted by PaulinaYong > 2012-09-06 00:28 | Report Abuse

Do not invest in outdated business.
What do I mean by outdated business ? For example, nowadays people start using digital camera, because of thechnology change, how is the conventional camera maker going to survive ? It includes also the fim manufacturer and related supporting business. Another example, when the electronic storage device 's price getting cheaper and cheaper, the outlook of the VCD/DVD manufacturer is getting dull. Be very cautious to invest in any technology companies, if another competitor have better technology, the company will lost their market share because of its outdated technology. Thus, try to avoiod this kind of companies unless you fully understand their business and their outlook. One of my favourite stocks in this sector is Uchitech. I leave it to you all to figure out why I have choose this company.

Posted by PaulinaYong > 2012-09-06 00:38 | Report Abuse

PE is less than ROE
Do not invest in stocks just based on the PE alone, low PE is good but sometimes it may mean that you are investing in business with low prospect. Grow business usually come with high PE. For my personal guideline, the PE can be moderate high, but must be equal or less than ROE. Thus, if ROE is high, I can accept the stocks with moderate high PE, of course, not to the extend of PE 100 or 1000. I will leave it to the investors to decide what is the moderate PE is.

Posted by PaulinaYong > 2012-09-06 00:38 | Report Abuse

Invest in big capital stocks or small capital who owned by the big capital stocks.
Based on the past records, most of the companies suffer huge loss are from small capital of main board, second board and mesdaq. Thus, you should avoid these stocks. If you really want to invest in these stocks which may give you quick profit with up down 20 or 30%, then you should only considered any of these stocks are owned by Good Big capital or my principle 2, owned by good and honest and capable person.

Posted by PaulinaYong > 2012-09-06 00:39 | Report Abuse

Invest in companies which the nature of business will never losing money or the chance of losing money is very slim.
Where got companies never losing money? Hur....to answer this question, I think I can name a few. For example, Bursa is one of them. Bursa earns money by earning commissions from you when you trade stocks. The more you trade the more Bursa earn. The less you trade the less Bursa earn. Their overhead and expanses are low and their business model is simple. It is a matter of low profit or high profit and the risk of losing money is minimal. If some play contra and suffer huge loss and runaway to Thailand, who bear the loss? Securities firm and the remisier, not Bursa. Thus, you should choose Bursa instead of any securities firm. Another good example is Nestle, you drink MILO, your children will drinks MILO, your children's children will drink MILO, and so what is your worry? If you think investing in those companies will never make significant profit, then I will prove you wrong. One of my favorite stocks Dutch Lady has gone up more than 200% after I bought it, and I still hold it, and I still believe it will consistently make profit and give high dividend! Thus, I have give you the principle here, you got to do your homework to find which companies business model is so simple that will sure make profit ! 3. Invest in companies really pay out the dividend. The principle is simple, what showed in the financial report may not be the real money, only those companies capable to pay it out is real money. I don want to discuss more on this too simple logic. You can find the high yield stocks easily in Bursa market.

Posted by Fat Cat Tim Buddy > 2012-09-06 00:51 | Report Abuse

paulina , thumb up. :)

but i dont milo anymore, because milo made from barley malts , and it contain gluten, which is bad for body, and milk, 75% of world population is lactose intolerance... and cow milk is really really bad, it can cause infant develops allergy symptoms..

bottom line is.. food industrial is not a safe haven anymore, at least that what i think la..

if you have any doubt, you can always google : milk, wheat, gluten .. is bad,and find out more :)

Posted by assthrow > 2012-09-06 00:54 | Report Abuse

people...... AmInvestment Bank issue JCY-CF and JCY-HA .. both at same strike price, same expiry... if both warrants are unhedged... aminvestment have to ensure JCY do not trade too far from RM1.22 ... so why would aminvestment involve in this conspiracy selldown??

Posted by assthrow > 2012-09-06 00:55 | Report Abuse

ya ya... cow milk is for cow........
we should drink human milk only!