Kingdavid, can you tell me how do you get RM6.7 million profit? That RM6.7 million is not the right figure to use as it is not the profit attributable to owners of the company. That profit is based on consolidation of DNEX which is not accurate because DNEX is owned less than 50% by Censof. The right figure to use is RM1.7 million. Just look at KLSEscreener, they used RM1.7m instead of RM6.7m.
If you can't even understand basic accounting, please don't make urself look worse. I'm from accounting background and this is a common mistake made by investors. You took the wrong figure in the books for comparison. I hope you don't feel offended by my honesty but I really hope you understand what im trying to explain here, otherwise you may need to do more research on this first.
4u2c, its not typo error. Censof didnt not own more than 50% shares in Dnex. Technically they cannot consolidate the earnings into their books. The % of ownership will be used, and the final results are RM1.7 million. I'm in accounting field and finance industry for many years, and too familiar with this.
Kukuman, many companies like Inari, Iris, KNM, TA have been stucked at one price or trending lower. But times will change and company will turnaround. The 3 biggest shareholders owns almost more than 50% of the whole company. Do you think they want to see their company share price stay stagnant forever?
Developments you see recently will shape the future of the company provided you are patient. The stagnant in price is infact a good indicator because it shows a very good support level despite global market selloffs. It's a very strong indication, if you havent see it, that it will move upwards soon. They need to make sure they can get the GST contracts from the government + OBB contracts along the way where all gov agencies are required to use MyResults by early 2016.
if I can remember correctly ifcamsc came out on theedge few months ago and its price was ~0.18 . now already 0.5 .+178% ... lets see how censof can perform...
I'm not sure how sustainable is IFCA's business is comapared to Censof. IFCA's business to China and Msia could only be one-off and only caters for property businesses. Censof meanwhile deals with the Gov and offers wide ranging products via Dnex and Telmex.
From the charts and buying volume it is definitely moving. October is budget announcement. A preempt to that? If Censof gets government contracts then upsides would surely be unlimited
The volume we observed for the past few days were not seen since January. Does this indicates that people are starting to see the value of this counter? Right now, what is going to be next trend coming 2015? For the past 2 years was O&G, this year is Real Estate, how about next year? Will it be GST related stocks? If you think GST is going to bring a new change to the Msia spending system as well as the way of doing business, counters you should monitor are those that has good management team, great product and economic moat. That is the reason why I purchased Censof and GHLSYS last year, with a foresight that these companies will benefit.
As the largest e-payment company in Msia, GHLSYS definitely has the economic moat. It is also growing in other countries within ASEAN. Censof meanwhile is the largest accounting software supplier to more than 80++ government agencies. They are also building OBB softwares for the gov. You can attend their global conference in Vietnam where they will be discussing on that topic.
No doubt as of now, the gains were not spectacular but bought in large volumes and at their lows, I believe investors with patience will be able to reap the benefit of these companies like its major shareholders. Investing is all about time for news, and time for earnings. It will be extremely satisfactory to be able to spot a counter in which no one spotted earlier to shine and flourish for many years to come. But that requires the patience and willpower to hold when times can be volatile.
GST related Stocks will most likely be the darlings of BURSA next year. I noticed that GST stocks are starting to move now ahead of the impending Budget. Censof has built itself a niche position in being the supplier of GST accounting software to 80 odd govt agencies plus offering the OBB software package as well. Once the govt contracts are awarded, the earnings rise will be very substantial for an asset light company such as Censof. It may possibly be the next Datasonic!!
WiseEye, you are damn arrogant. I am here just sharing what I know. What's wrong with my statement? It is shown in the latest quarterly report that RM6.716 million before tax and it is mainly contributed from the consolidation of DNEX. The profit attributable to the ordinary equity holder of the parent is RM1.71 million. I agree that it may not be accurate to project the future earning of the company. Business prospect of a company like Censof can change overnight with government contracts. Moreover, the company is still holding 39.22% DNEX shares. Please allow others to share and learn and most may not be as expert as you.
sunztzhe, thanks for your fair share. Hope to hear more valuable comments from you in the future.
kingdavid, you seem to have misunderstood. I never intended to be arrogant but merely pointing out your mistake in your analysis. I may be too straightforward but merely to make a very clear point. Even you admitted now that the RM6.7 million should not be used to project future earnings. If you find my comments too straightforward, I must say first hand, that it's meant for good. I can be harsh in my writing but I just want to make sure people are not misled by wrong facts, and that your initial statement was indeed wrong. Such misconception could lead to amateur investors into believing Censof's profit is RM6.7m instead of RM1.7m.
We all bought Censof as part of our investment portfolio because we foresee the company to grow in a whole new level in future. With our objectives aligned, we share a common goal and any valuable critical comments should be interpreted positively. Discussions can be tensed during this period but in the end everyone learns something from it.
For you calling me as arrogant, I do not feel so at all as I know my comments are for the benefits of the rest. If you think my style of conveying a message hurts you, you have not seen how a real corporate environment works, or even if you do, its not the darkest you have seen.
Anyone has any idea the reason Censof disposed 25m shares at 26 sen to 2 Dnex directors on 11/7/14 when Dnex shares were trading mostly 30 sen or more from 12/6 onwards (and volume was also higher from mid June onwards)?
One of the directors sold off her 20m shares above 30 sen within a week for a fast and easy windfall.
Changes in Director's Interest (S135) DAGANG NEXCHANGE BERHAD
Information Compiled By KLSE Particulars of Director Name Norlila binti Hassan Address No. 92 Jalan Kiambang Indah 6, Taman Kiambang Indah, Senawang, 70450 Seremban, Negeri Sembilan Descriptions(Class & nominal value) Ordinary shares of RM0.20 each Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction Date of change No of securities Price TransactedRM) Acquired 11/07/2014 20,000,000 0.260 Disposed 14/07/2014 16,132,700 0.305 Disposed 16/07/2014 3,867,300 0.304
Circumstances by reason of which change has occurred (1) Acquisition of shares via direct deal. (2) Disposal of shares in the open market.
Nature of interest Indirect Consideration (if any)
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
iWarrants
746 posts
Posted by iWarrants > 2014-08-29 15:48 | Report Abuse
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