Posted by Icon8888 > 2019-09-19 17:17 | Report Abuse

One good lesson for sochai :

Investing is not about buying good companies

It is about buying well

(Howard Mark)

Posted by qqq3 > 2019-09-19 17:31 | Report Abuse

how much made depends on how much money put in..............the number of shares own and percentage of portfolio.

Posted by stockraider > 2019-09-19 17:37 |

Post removed.Why?

Posted by Icon8888 > 2019-09-19 17:39 | Report Abuse

a sohai that thinks he is a sifu

just because he read a few books

Posted by 3iii > 2019-09-19 18:29 |

Post removed.Why?

Posted by 3iii > 2019-09-19 18:30 |

Post removed.Why?

Posted by 3iii > 2019-09-19 18:34 |

Post removed.Why?

Posted by stockraider > 2019-09-19 18:34 |

Post removed.Why?

Posted by Robinson > 2019-09-19 18:36 | Report Abuse

stock raider you are sorchai too.

Posted by stockraider > 2019-09-19 18:39 | Report Abuse

Ya gah ?

Posted by Robinson > Sep 19, 2019 6:36 PM | Report Abuse

stock raider you are sorchai too.

Posted by Sslee > 2019-09-19 19:30 | Report Abuse

Dear 3iii,
Quote, “Safety of your capital is paramount. What can be safer than be invested for the long term in a great company that continues to grow its intrinsic value consistently over many years to come. In fact, it is so simple, just buy these companies at fair prices and on occasions, at bargain prices, and hold them for the long term. Do you need to sell these stocks? (I leave this for more advance discussion). Of course, don't buy them when they are at very high prices. Unquote”

Eagerly looking forward to your advance discussion on do you need to sell these stocks? And at what price (PE) do you mean don't buy them when they are at very high prices?

As for INSAS just to save your time, do you mind just tick the below why INSAS is gruesome:
1. Keep too much cash especially the one in gruesome AUD
Deposits with licensed banks and financial institutions: 554,786,000
Cash and bank balances: 94,273,000
Interest income: 19,969,000
2. Holding to much gruesome mark to market financial asset mostly quoted securities:
Financial assets at fair value through profit or loss: 234,233,000
IGB REITS, Omesti Berhad, SYF Resources Berhad and Oversea-Chinese Banking Corporation Limited.
3. Lending too much money to VIP clients and charging a gruesome legalized Ah Long interest rate.
Trade receivables: 443,088,000
Category of loan receivables Secured: 267,455,000 and unsecured: 30,161,000
4. Gruesome internal lending: amount due from associate companies 89,571,000
5. Gruesome financial control with current liabilities:
Preference shares 130,106,000
Hire purchase payables 28,791,000
Loans and borrowings 281,654,000
Interest paid (24,881,000)
6. Gruesome associate companies:
Associate companies 437,420,000
Listed associate: Inari 19.19%, Hohup 12.2% and DGSB 25.48%
Unlisted associate: Melium group 43.4%, Winfields 40%, Numori 42.6% and others
Share of profits less losses of associate companies: 44,083,000
Dividend received 42,999,000
7. Gruesome Investment properties: 187,658,000
8. Gruesome Property, plant and equipment 161,021,000 mainly cars for rental, corporate long lease, office equipments, office building and etc.
9. Gruesome Intangible assets 26,047,000. Broking and loan shark license.
10. Gruesome Financial assets at fair value through other comprehensive income 22,971,000. Mainly long term bond.
11. Gruesome former CEO Dato’ Sri Thong only give 1 cents dividend
12. Equally gruesome newly appointed CEO Dato’ Wong only increase dividend to 2 cents
13. Gruesome 10 years continue profit record and NAPS growth.
https://klse.i3investor.com/servlets/stk/fin/3379.jsp?type=last10fy
NAPS: 2.62 with CAGR of 8.86%
14. Gruesome growth or negative growth of revenue as profit is now driven by associate companies.
15. Was promoted and still promote by my gruesome nemesis stockraider, thus it must be gruesome stock
16. Market must be efficient hence a low PE must be a gruesome company.
17. Gruesome excuse of Dato’ Sri Thong and PAC hold 32.96% and thus unable to do share buyback that will trigger threshold of 33% MGO
18. Was a gruesome company in the past hence must be a gruesome company now and in future.
19. All of above.

Thank you

Posted by qqq3 > 2019-09-19 19:38 | Report Abuse

sslee

novices like you and their teachers want every thing to be perfect before they buy ...low PE, high NTA, high cash, low borrowings, High ROCE...where got like that one? Finally found dead stock Insas and many other dead stocks from the value investors check list.......

But our ROCE from our investments in Armada very high lo......so how ah? ss?

Posted by Sslee > 2019-09-19 20:11 | Report Abuse

Hahahaha
Qqq3 congratulate on your Armada but remember stockraider experience on Hengyuan when it turn south must lari kuat kuat.

Posted by 3iii > 2019-09-19 22:16 |

Post removed.Why?

Posted by 3iii > 2019-09-19 22:43 |

Post removed.Why?

Posted by stockraider > 2019-09-20 08:57 |

Post removed.Why?

Posted by 3iii > 2019-09-20 09:29 | Report Abuse

>>>

Posted by stockraider > Sep 20, 2019 8:57 AM | Report Abuse

U need to understand what is gruesome companies loh...!!
Insas is not is gruesome, it is a growth company mah....!!

>>>



Of course, this despatch boy is absolutely right to say it is a growth stock, as I am also right in saying this is a gruesome company.

I have based my opinion on my own selection criteria.

Posted by 3iii > 2019-09-20 09:48 |

Post removed.Why?

Posted by stockraider > 2019-09-20 09:59 | Report Abuse

Look at the simple nature of human loh....!!

If i ask people to chose between a bmw v perodua definitely people will chose bmw when price is not a consideration loh...!!

Lets wake up....there is no such thing as no price mah or price is not a consideration loh!!.. So if price is added in as a factor....most people will chose perodua loh...!! This is what we call value buy mah....a very wise choice loh...!!

Likewise Insas hathaway is a very wise buy bcos there are huge value preposition mah....!!

Posted by 3iii > Sep 20, 2019 9:48 AM | Report Abuse

(Value investors: Benjamin Graham, Buffett, Walter Schloss, Philip Fisher, Joe Greenblatt, Bruce Greenwauld, Burton Malkiel, Charlie Munger, John Templeton, Peter Lynch, Seth Klarman, Charlie Munger, etc.)


Why have practically all value investors followed Buffett, preferring quality companies?

Maybe, when they are young and start out investing, they have an excessive desire to do well and make their mark. They tend to favour the cheapest companies, which on face value offer the greatest potential upside.

With experience and maturity, and after having stepped on a few booby and / or value traps (cheap companies in bad businesses, which languish for years, failing to create value) and their economic situation improves, their tastes tend to shift towards quality, even if they have to pay a bit more for it.


KEEP IT SIMPLE AND SAFE (KISS)

Successful investing is not magic, just keep things simple and maybe follow few investing and money rules of thumb and you’ll be fine in the long run.

Posted by 3iii > 2019-09-20 10:28 | Report Abuse

BMW versus Perodua This is a stupid example.


This is a better example:
DLady versus Insas

Over the next 10 years, which of these companies will grow your investment more?

Posted by stockraider > 2019-09-20 10:31 | Report Abuse

Ok your bet is on loh...!!

Dlady Rm 58.10 v Insas Rm 0.815 loh...!!

Posted by 3iii > Sep 20, 2019 10:28 AM | Report Abuse

BMW versus Perodua This is a stupid example.


This is a better example:
DLady versus Insas

Over the next 10 years, which of these companies will grow your investment more?

Posted by 3iii > 2019-09-20 12:37 | Report Abuse

>>>

Posted by 3iii > Sep 20, 2019 10:28 AM | Report Abuse X

BMW versus Perodua This is a stupid example.


This is a better example:
DLady versus Insas

Over the next 10 years, which of these companies will grow your investment more?

>>>



Remind me in 20/9/2029.

Posted by Icon8888 > 2019-09-20 12:39 | Report Abuse

35

Posted by 3iii > 2019-09-20 12:42 |

Post removed.Why?

Posted by Icon8888 > 2019-09-20 13:55 | Report Abuse

No need read so many warren buffett books

Useless

Posted by Icon8888 > 2019-09-20 14:12 | Report Abuse

The more you read the more stupid you become

Posted by qqq3 > 2019-09-20 14:38 | Report Abuse

Posted by Icon8888 > Sep 20, 2019 1:55 PM | Report Abuse

No need read so many warren buffett books

Useless
=============

warren buffett books like kyy books...about one man's experience in the stock market..........but things don't always stay the same way.........



and whether it is randomness playing tricks? cause or effect? big player/ syndicate buying a share sure go up lah, chicken or egg?



and the decision making process, reading all the bufalos book in the world does not make one a better trader/ speculator

Posted by qqq3 > 2019-09-20 14:44 | Report Abuse

armada 40 sen minimum.

Posted by qqq3 > 2019-09-20 14:50 | Report Abuse

Icon8888 > Sep 20, 2019 2:12 PM | Report Abuse

The more you read the more stupid you become
==============

there is a reason for for that. It is about other people opinions and people handing billions, hundreds of billions......in wall street...


we face the problem of handling a little savings in Bursa...........

Posted by qqq3 > 2019-09-20 14:56 | Report Abuse

how to react to changing environments??

the books cannot teach you....everyone is different, every stock is different, every moment is different....the hormones flowing in the body is different, time scale is different.

Posted by Icon8888 > 2019-09-20 14:58 | Report Abuse

355

Posted by qqq3 > 2019-09-20 14:58 | Report Abuse

can keep armada to 40 .............that will be first test whether one has what it takes.............

Posted by Icon8888 > 2019-09-26 14:41 | Report Abuse

355

Posted by 3iii > 2019-09-27 21:58 | Report Abuse

>>>>

Can anyone guess how many broking accounts there are in Malaysia: answer, it is 1-2 million, maybe even more.

Now, guess how many accounts TRADE AT LEAST ONCE A YEAR ... (you can get the actual figures from Bursa if they let you) ... around 200,000 accounts. So forget about the 2 million, most are dormant or replications.

Now, guess how many individual accounts trade at least ONCE A MONTH. Its around 60,000 only. Does that ring any alarm bells? How did we get to this sorry state?

There are slightly less than 1,000 listed companies on Bursa. Around 60% will see no trades almost everyday. That needs to be addressed. No liquidity for various reasons, no more reason to be listed.

https://klse.i3investor.com/blogs/kianweiaritcles/227129.jsp

>>>>

Posted by ahbah > 2019-09-27 22:13 | Report Abuse

Maybe the 2 million are seriously injured by the mkt bear and now are getting treatment at ICU ?

Posted by 3iii > 2019-09-27 22:32 |

Post removed.Why?

Posted by Sslee > 2019-09-28 08:36 | Report Abuse

Hahahaha
Luckily I am still working and have monthly income to top up INSAS and do some trading. Qqq3 have to be very carefull with his 300K investment, once trap will become one of those dormant account.

Posted by stockraider > 2019-09-28 12:49 | Report Abuse

ALL SYSTEM ALREADY GO FOR ARMADA LOH.....!!

THE COMPANY ACHIEVE ALL THE POSITIVE POINT MAH...!!

1. THERE ARE GOOD ELEMENT OF PROFIT IMPROVEMENT ON THE LAST 2 QTRS.

2. THERE ARE GROWTH ON SALES & PROFIT MAH....!!

3. GEARING HAS REDUCED DRAMATICALLY LOH !!.

4. ORDER BOOKS HAS INCREASED ALOT MAH...!!

5. LIQUIDITY HAS IMPROVED & FINANCING MORE EASY TO OBTAIN LOH..!!

ALL THESE VERY POSITIVE FOR ARMADA BCOS IT IS VERY UNDERVALUE, THUS SHORT TERM TP RM 0.70 VERY REASONABLE LOH...!!

Posted by stockraider > Sep 27, 2019 12:53 PM | Report Abuse X

On the issue of gearing, basing latest financial report.

Armada has debt Rm 10.4b with shareholderfund Rm 3.34b which is gearing 3.11x

Yinson has debt Rm 5.7b with shareholderfund Rm 1.73b which is gearing 3.29x.

Yinson 3.29x gearing in fact slightly higher than armada 3.11x loh...!!

Posted by stockraider > Sep 27, 2019 12:53 PM | Report Abuse X

On the issue of gearing, basing latest financial report.

Armada has debt Rm 10.4b with shareholderfund Rm 3.34b which is gearing 3.11x

Yinson has debt Rm 5.7b with shareholderfund Rm 1.73b which is gearing 3.29x.

Yinson 3.29x gearing in fact slightly higher than armada 3.11x loh...!!

Posted by stockraider > Sep 27, 2019 9:44 AM | Report Abuse X

Must understand what AK is doing good for Armada, in its offer for refinancing loh....!!

1. It offer for funding for new JV project in india....thus armada no need to hunt for funder loh...!!

2. It offer refinancing for existing fpso on going contract, thus armada can renegotiate with the rest of the financer at a favorable rates mah, this is very good for armada bcos sugar daddy AK is helping loh, unlike yinson the major owners do not have really substantial financial means mah...!!

This is very positive for armada loh....!!

Posted by stockraider > 2019-09-28 12:51 | Report Abuse

THERE ARE 2 SIDE OF THE COIN MAH....WHEN MKT DOWN SIDE .....VALUE INVESTORS QUIETLY ACCUMULATE GOOD QUALITY MARGIN OF SAFETY COMPANY, ON THE CHEAP MAH....IF U BUY RIGHT....U SHOULD MAKE MONIES EVENTUALLY LOH...!!

TAKE INSAS FOR EXAMPLE...RAIDER ACCUMULATE IT, AT AN AVERAGE RM 0.67 BEGINNING OF THE YEAR, TODAY ALREADY UP ABOUT 20%, EVEN IN VERY BAD MARKET LOH...!!

THIS HOW U INVEST MAH....U MUST BE PATIENCE & GIVE TIME FOR STOCK TO REFLECT ITS TRUE POTENTIAL LOH.....!!

AN ACTIVE BULL MARKET WILL CREATE OVERVALUE & GORENG STOCK LOH....!!

ON THE OTHERHAND, A PASSIVE BEAR MKT OFFER GOOD BUYING & ACCUMULATION OPPORTUNITY LOH....!!

Posted by 3iii > Sep 27, 2019 10:32 PM | Report Abuse

2 million accounts and only 10% (200,000) are active. 90% are dormant, probably due to the snake bite effect: once bitten, never try again.

Of the 200,000 who are active, 60,000 individual accounts trade at least once a month or in other words, at least 12x in a calendar year.

Can we conclude that these 60,000 individuals are traders? The remaining 140,000 individuals are buy and hold and sell infrequently.

Posted by 3iii > 2019-09-28 20:17 |

Post removed.Why?

Posted by ahbah > 2019-09-28 20:35 | Report Abuse

Snake bite effect causes coma in mkt players ?

Posted by stockraider > 2019-09-29 11:12 |

Post removed.Why?

Posted by stockraider > 2019-09-29 11:13 | Report Abuse

In investment it is always better look forward on armada, if u keep looking back at the past u will be obviously missing great investing opportunity on armada loh...!!

1. Armada already undergo vast impairment & writedown to conservatively clean up their books.
It has brought down its high borrowing from Rm 16 billion to rm 10.4 billion and the trend u can see is obvious qtr reduction in borrowing loh....!!

2. Most importantly the latest qtr profit and revenue easily exceed yinson a rm 7 billion mkt cap company by about double, a great sign of sharp improvement trend loh...!!

3. As for sustainability armada has rm 20 billion order books another very positive sign for the company loh...!!

4.Bottom line, just focus on Armada's performance over the last two quarters you will see that it's on the upwards trends.
Orderbook remains steady at RM20.2b (FPO: RM19.1bn, OMS: RM1.1bn) another RM10.3bn worth of potential extension. This will sustain the group’s revenue for the next few years.

For Potential upside, please see mikekim comments earlier...
It will get even better in 2H2019 with 4 key upsides:

1) Claire US$285m compensation
2) Kraken ~US$280m partial/full write back
3) Kraken debt restructure to LT
4) Net profit growth

Hence. we can expect better result in next quarter.

5.Moving forward, Global FPSO Market is expected to grow USD+ 30 Billion by 2025.

Top Key Players:
BP, Petronas, Chevron, ExxonMobil, Shell, Petrobras, Bumi Armada Berhad, SBM Offshore, BW Offshore, MODEC, Bluewater Energy Services B.V., Aker Solutions ASA, Yinson Holdings Berhad, Teekay Corporation, among others.

Armada Value Proposition
1. A Top 5 FPSO operator in the world by fleet size. Operating presence in Asia, Africa and Europe. T&I and OSV (lossmaking) are complementary businesses.
2. Unlike OSV and T&I operations, FPSO’s contracts are more bankable, providing steady visibility (long-term charters, termination protection) with reasonable project IRRs.
3. FPSOs tender pipeline is strong. Winning a job is a catalyst.

Latest Valuation for Armada
Operations (MMYR) Details
- TGT1 (Vietnam) 835, NPV (6-year extension), 5.6% WACC
- D1 (India) - 50% 266 NPV (firm); 5.6% WACC
- C7 (India) - 50% 266 NPV (firm); 5.6% WACC
- Kraken - 100% 1,470 NPV (firm); 7.0% WACC
- Olombendo - 100% 4,831 NPV (firm); 5.8% WACC
- Madura (Indonesia) - 50% 385 NPV (firm); 5.8% WACC
- Malta FSU 609 NPV (firm); 5.8% WACC
- Kakinada – 30% 486 NPV (firm); 7.0% WACC

FPSO 9,146,000,000

It a very SOLID Company and we should be proud to be part of this success story...

Posted by 3iii > 2019-09-29 22:54 | Report Abuse

Rather than wasting time looking at gruesome companies (including those with huge debts), focus your precious time on great companies that you can buy at fair price and which you can hold for a long long time.

Posted by 3iii > 2019-09-30 13:35 | Report Abuse

>>>

Posted by ahbah > Sep 28, 2019 8:35 PM | Report Abuse

Snake bite effect causes coma in mkt players ?

>>>

ahbah

Looks like investlah is no longer accessible.
Will this be permanent?

Hope not, as a lot of resources in that forum too for learning and references.

Posted by ahbah > 2019-09-30 13:44 | Report Abuse

I think most members already said goodbye to investlah.

Posted by calvintaneng > 2019-09-30 13:48 | Report Abuse

Posted by ahbah > Sep 30, 2019 1:44 PM | Report Abuse

I think most members already said goodbye to investlah.

AHBAH THE NASI LEMAK EATER THAT GOT CONNED BY 3iii?

3iii WITH HIS ATTACKS AGAINST OTHERS IN INVESTLAH AND HIS UNFRIENDLY ATTITUDE HAS DESTROYED INVESTLAH FOR GOOD

NOW YOU BETTER GET AS FAR AWAY FROM HIM AS YOU CAN

OR ELSE YOU, TOO, WILL BUY INTO HIS DINOSAUR STOCKS AND GET FOSSILIZED

Posted by 3iii > 2019-09-30 16:17 | Report Abuse

calvin is very upset by the absence of investlah.

Now he plies his recommendations in i3.

:-)

Posted by 3iii > 2019-09-30 16:26 |

Post removed.Why?

Posted by ahbah > 2019-09-30 16:35 | Report Abuse

It appeared like Kiddy was a warrant expert in that blog.