Stock Name: INTEGRA
Date Announced:15/11/2010
Name: Mackenzie Financial Corporation
Disposed
03/11/2010
681,700 shares
Circumstances
Stock was sold by Mackenzie Financial Corporation ("MFC") on behalf of its clients, in its role as Portfolio Manager. MFC has voting control over the shares.
Direct (units):15,500,000
Direct (%): 5.15
Total no of securities after change:15,500,000
Date of notice:10/11/2010
Saturday 27 November 2010
Focus on the long term and have the courage to buy more into any dips in the markets."
Dare to be a lone wolf investor
Investors are losing out by chasing performance, according to a new study.
By Paul Farrow 11:27AM GMT 23 Nov 2010
Have you invested in a fund after learning of its stellar gains and thought, "I want a piece of the action"? If so, you are not alone – but it is likely to be costing you dear. A study by The Cass Business School, commissioned by Barclays Wealth, has found that timing decisions by private investors since 1992 have cost them an average of 1.2 percentage points a year because they have chased performance.
Andrew Clare, professor of asset management at the school, says: "A buy and hold strategy would have turned an initial investment of £100 into £311; however, because of the poor market-timing abilities of the average private investor, the typical investment would only be worth £255. The difference of £56 arises because people tend to invest more after periods of strong market performance and withdraw it following periods of weak performance."
Tony Lanser, director, Barclays Wealth added: “Private investors have long been chasing returns by attempting to time the market but our research proves that this hasn’t always delivered."
The study backs up the long-held notion that people have a knack of mistiming their investments. Take gold, for example. Nobody wanted to touch it when it languished around the $265 an ounce mark 17 years ago, but as soon as it broke the $600 mark in 2006, investors began to climb aboard – and they still are climbing, as the price hurtles towards $1,500.
On the other hand, thousands of investors piled into technology funds at the beginning of 2000 after a long period of soaring returns. The bubble burst and technology values fell sharply. More recently, as the Telegraph's Your Money section has revealed, many investors ditched their equity holdings when the stock market dropped sharply in early 2009, and have missed out on its subsequent recovery.
Andrew Baker, chief operating officer at Skipton Financial Services, says: "No one truly knows what will be the next year's top performing fund, and anyone whose financial adviser tells them that they have a crystal ball and can predict the future is being led down the garden path.
"The danger of timing the market is that investors are invariably waiting for the markets to move and then jump on the bandwagon, thus missing out much of the growth they would have had by already being invested. Trying to second guess the markets is a fool's game. The most reliable strategy is to spend time in the market, rather than try and time the market, and to diversify your portfolio."
Indeed, there is the well-trodden argument that "it's the time in the market, not out of it, that counts''. According to Fidelity, if you had invested £1,000 five years ago in the FTSE All-Share, it would be worth £1,316 today.
However, if you had missed the best 10 days of the FTSE performance your sum would be worth just £718; and if you had missed the best 30 days you would be left with just £372. Fund management groups say it is important that investors stay invested for the long term and do not attempt to dip in and out in the hope of avoiding any lows.
The "time in the market" argument makes sense, but it can seem flippant when it comes to the prospect of losing your hard-earned cash, and given the global outlook, a degree of pessimism is understandable.
But you do not have to invest a lump sum and test your powers of buying at the right time. There is another option that is overlooked by most investors: the regular savings plan.
Saving smaller amounts of money on a regular basis reduces the risk of losing a hefty chunk of your savings if share prices take a steep dive. Of course, the opposite is true, too, and you will not make sharp gains if markets shoot up quickly.
For example, if you had put a lump sum of £9,000 in the average UK All Companies fund three years ago, you would be sitting on a fund worth £9,130.43 today. If, on the other hand, you had drip-fed £250 a month over the same period (a total outlay of £9,000) into the same fund, you would be in the money, with its value now at £11,138.94. This is because investors benefit from pound cost averaging – basically, you are buying more shares for your buck as the market falls.
So is it better being a lone wolf investor? Certainly some of the greatest investors have gone against the grain and been handsomely rewarded. John Maynard Keynes is perhaps the most famous contrarian investor of them all. It is worth remembering what he says in the aftermath of the Great Depression in 1937. "It is the one sphere of life and activity where victory, security and success is always to the minority and never to the majority. When you find anyone agreeing with you, change your mind.''
One of the most unfashionable areas, and therefore potentially a winner, is Europe in light of the debt crisis, first with Greece and now with Ireland. Yet these two countries, and Portugal and Spain which also have problems, account for a small proportion of Europe in investing terms.
"Despite a perception of sluggish growth and an inefficient corporate sector, European companies have been transforming themselves over the past two decades, helping drive consistent outperformance from European stock markets," says Stephen Macklow-Smith, portfolio manager at JP Morgan. "Worries about deflation and sovereign debt defaults all appear overblown. Instead, the outlook for European equities appears attractive."
Adrian Lowcock, at Bestinvest, says there are opportunities in Europe, but warned investors that it could be volatile. He recommends Ignis Argonaut European Income or Neptune European Opportunities.
Contrarian investing is certainly not for the faint-hearted, especially when you are putting your cash on the line. It is probably why investors always plump for a fund or stock that has risen the most. Robert Burdett, at Thames River, says: "Consider phasing (drip-feeding), as it also works well in volatile conditions. Focus on the long term and have the courage to buy more into any dips in the markets."
Mark Dampier, at Hargreaves Lansdown, admits it is not easy to be a lone wolf investor. "In truth it's always difficult to go against the crowd. It probably needs to feel intensely uncomfortable for an investment to be 'right', and it may need a lot of patience. Unfashionable areas are Japan, Europe and UK smaller companies."
Mr Dampier put some of his own money in Japan (a perennial unfashionable area) early this year and admits that his contrarian bet has yet to pay off. But he says investors should consider Jupiter Absolute Return, managed by the highly regarded Philip Gibbs, which has had a poor year; and PSigma Equity Income, managed by the experienced Bill Mott, which is full of unfashionable stocks such as telecoms and pharmaceuticals.
"Everyone is buying mining and commodities and many fund managers, through no fault of their own, have been left behind," says Mr Dampier. "There is nothing wrong with investing in the areas that have been performing well. The key is to get off in time."
http://www.telegraph.co.uk/finance/personalfinance/investing/8152770/Dare-to-be-a-lone-wolf-investor.html
Investors are losing out by chasing performance, according to a new study.
By Paul Farrow 11:27AM GMT 23 Nov 2010
Have you invested in a fund after learning of its stellar gains and thought, "I want a piece of the action"? If so, you are not alone – but it is likely to be costing you dear. A study by The Cass Business School, commissioned by Barclays Wealth, has found that timing decisions by private investors since 1992 have cost them an average of 1.2 percentage points a year because they have chased performance.
Andrew Clare, professor of asset management at the school, says: "A buy and hold strategy would have turned an initial investment of £100 into £311; however, because of the poor market-timing abilities of the average private investor, the typical investment would only be worth £255. The difference of £56 arises because people tend to invest more after periods of strong market performance and withdraw it following periods of weak performance."
Tony Lanser, director, Barclays Wealth added: “Private investors have long been chasing returns by attempting to time the market but our research proves that this hasn’t always delivered."
The study backs up the long-held notion that people have a knack of mistiming their investments. Take gold, for example. Nobody wanted to touch it when it languished around the $265 an ounce mark 17 years ago, but as soon as it broke the $600 mark in 2006, investors began to climb aboard – and they still are climbing, as the price hurtles towards $1,500.
On the other hand, thousands of investors piled into technology funds at the beginning of 2000 after a long period of soaring returns. The bubble burst and technology values fell sharply. More recently, as the Telegraph's Your Money section has revealed, many investors ditched their equity holdings when the stock market dropped sharply in early 2009, and have missed out on its subsequent recovery.
Andrew Baker, chief operating officer at Skipton Financial Services, says: "No one truly knows what will be the next year's top performing fund, and anyone whose financial adviser tells them that they have a crystal ball and can predict the future is being led down the garden path.
"The danger of timing the market is that investors are invariably waiting for the markets to move and then jump on the bandwagon, thus missing out much of the growth they would have had by already being invested. Trying to second guess the markets is a fool's game. The most reliable strategy is to spend time in the market, rather than try and time the market, and to diversify your portfolio."
Indeed, there is the well-trodden argument that "it's the time in the market, not out of it, that counts''. According to Fidelity, if you had invested £1,000 five years ago in the FTSE All-Share, it would be worth £1,316 today.
However, if you had missed the best 10 days of the FTSE performance your sum would be worth just £718; and if you had missed the best 30 days you would be left with just £372. Fund management groups say it is important that investors stay invested for the long term and do not attempt to dip in and out in the hope of avoiding any lows.
The "time in the market" argument makes sense, but it can seem flippant when it comes to the prospect of losing your hard-earned cash, and given the global outlook, a degree of pessimism is understandable.
But you do not have to invest a lump sum and test your powers of buying at the right time. There is another option that is overlooked by most investors: the regular savings plan.
Saving smaller amounts of money on a regular basis reduces the risk of losing a hefty chunk of your savings if share prices take a steep dive. Of course, the opposite is true, too, and you will not make sharp gains if markets shoot up quickly.
For example, if you had put a lump sum of £9,000 in the average UK All Companies fund three years ago, you would be sitting on a fund worth £9,130.43 today. If, on the other hand, you had drip-fed £250 a month over the same period (a total outlay of £9,000) into the same fund, you would be in the money, with its value now at £11,138.94. This is because investors benefit from pound cost averaging – basically, you are buying more shares for your buck as the market falls.
So is it better being a lone wolf investor? Certainly some of the greatest investors have gone against the grain and been handsomely rewarded. John Maynard Keynes is perhaps the most famous contrarian investor of them all. It is worth remembering what he says in the aftermath of the Great Depression in 1937. "It is the one sphere of life and activity where victory, security and success is always to the minority and never to the majority. When you find anyone agreeing with you, change your mind.''
One of the most unfashionable areas, and therefore potentially a winner, is Europe in light of the debt crisis, first with Greece and now with Ireland. Yet these two countries, and Portugal and Spain which also have problems, account for a small proportion of Europe in investing terms.
"Despite a perception of sluggish growth and an inefficient corporate sector, European companies have been transforming themselves over the past two decades, helping drive consistent outperformance from European stock markets," says Stephen Macklow-Smith, portfolio manager at JP Morgan. "Worries about deflation and sovereign debt defaults all appear overblown. Instead, the outlook for European equities appears attractive."
Adrian Lowcock, at Bestinvest, says there are opportunities in Europe, but warned investors that it could be volatile. He recommends Ignis Argonaut European Income or Neptune European Opportunities.
Contrarian investing is certainly not for the faint-hearted, especially when you are putting your cash on the line. It is probably why investors always plump for a fund or stock that has risen the most. Robert Burdett, at Thames River, says: "Consider phasing (drip-feeding), as it also works well in volatile conditions. Focus on the long term and have the courage to buy more into any dips in the markets."
Mark Dampier, at Hargreaves Lansdown, admits it is not easy to be a lone wolf investor. "In truth it's always difficult to go against the crowd. It probably needs to feel intensely uncomfortable for an investment to be 'right', and it may need a lot of patience. Unfashionable areas are Japan, Europe and UK smaller companies."
Mr Dampier put some of his own money in Japan (a perennial unfashionable area) early this year and admits that his contrarian bet has yet to pay off. But he says investors should consider Jupiter Absolute Return, managed by the highly regarded Philip Gibbs, which has had a poor year; and PSigma Equity Income, managed by the experienced Bill Mott, which is full of unfashionable stocks such as telecoms and pharmaceuticals.
"Everyone is buying mining and commodities and many fund managers, through no fault of their own, have been left behind," says Mr Dampier. "There is nothing wrong with investing in the areas that have been performing well. The key is to get off in time."
http://www.telegraph.co.uk/finance/personalfinance/investing/8152770/Dare-to-be-a-lone-wolf-investor.html
Market manipulation
Market manipulation
From Wikipedia, the free encyclopedia
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.[1]
Market manipulation is prohibited in the United States under Section 9(a)(2)[2] of the Securities Exchange Act of 1934, and in Australia under Section s 1041A of the Corporations Act 2001. The Act defines market manipulation as transactions which create an artificial price or maintain an artificial price for a tradeable security.
Examples
Pools: "Agreements, often written, among a group of traders to delegate authority to a single manager to trade in a specific stock for a specific period of time and then to share in the resulting profits or losses."[3]
Churning: "When a trader places both buy and sell orders at about the same price. The increase in activity is intended to attract additional investors, and increase the price."
Runs: "When a group of traders create activity or rumors in order to drive the price of a security up." An example is the Guinness share-trading fraud of the 1980s. In the US, this activity is usually referred to as painting the tape[4].
Ramping (the market): "Actions designed to artificially raise the market price of listed securities and to give the impression of voluminous trading, in order to make a quick profit."[5]
Wash trade: "Selling and repurchasing the same or substantially the same security for the purpose of generating activity and increasing the price"
Bear raid: "Attempting to push the price of a stock down by heavy selling or short selling."[6]
References
^ http://www.asx.com.au/supervision/participants/market_manipulation.htm
^ http://www.sec.gov/divisions/corpfin/34act/sect9.htm
^ Mahoney, Paul G., 1999. The Stock Pools and the Securities Exchange Act. Journal of Financial Economics 51, 343-369.
^ Painting The Tape
^ Sanford: Overview
^ Bear Raid: Definition and Much More from Answers.com
From Wikipedia, the free encyclopedia
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.[1]
Market manipulation is prohibited in the United States under Section 9(a)(2)[2] of the Securities Exchange Act of 1934, and in Australia under Section s 1041A of the Corporations Act 2001. The Act defines market manipulation as transactions which create an artificial price or maintain an artificial price for a tradeable security.
Examples
Pools: "Agreements, often written, among a group of traders to delegate authority to a single manager to trade in a specific stock for a specific period of time and then to share in the resulting profits or losses."[3]
Churning: "When a trader places both buy and sell orders at about the same price. The increase in activity is intended to attract additional investors, and increase the price."
Runs: "When a group of traders create activity or rumors in order to drive the price of a security up." An example is the Guinness share-trading fraud of the 1980s. In the US, this activity is usually referred to as painting the tape[4].
Ramping (the market): "Actions designed to artificially raise the market price of listed securities and to give the impression of voluminous trading, in order to make a quick profit."[5]
Wash trade: "Selling and repurchasing the same or substantially the same security for the purpose of generating activity and increasing the price"
Bear raid: "Attempting to push the price of a stock down by heavy selling or short selling."[6]
References
^ http://www.asx.com.au/supervision/participants/market_manipulation.htm
^ http://www.sec.gov/divisions/corpfin/34act/sect9.htm
^ Mahoney, Paul G., 1999. The Stock Pools and the Securities Exchange Act. Journal of Financial Economics 51, 343-369.
^ Painting The Tape
^ Sanford: Overview
^ Bear Raid: Definition and Much More from Answers.com
The Anxiety and Joy of Selling
It is not possible to sell at the absolute top or to buy at the absolute bottom of the price fluctuations of your stock. Therefore, do not focus on timing your selling or buying at the absolute extremes of price fluctuations. Be content that you have sold close to the peak and that you have bought close to the bottom of the price fluctuations.
One of my stock has moved upwards, very much higher than the fair value that I give to it. It's PE has now exceeded 1.5X its signature PE, granted that its signature PE was a single digit one. There was no deterioration in its fundamentals. Its recent quarterly report did not report or suggest any dramatic improvement in its fundamentals. The price of this stock has climbed with intermittent periods of small corrections over a very short time of less than a month. This counter has given dividend yearly and at this present high price, the yield is rather low. I sold off half of my stocks in this counter locking in a very good substantial profit. The other half will be sold gradually should the price continues to move upwards, deteriorating its 'upside potential to its downside risk ratio'.
As the remaining shares are now held virtually cost free, this investment operation is positive NOW and will always be positive in the FUTURE.
One of my stock has moved upwards, very much higher than the fair value that I give to it. It's PE has now exceeded 1.5X its signature PE, granted that its signature PE was a single digit one. There was no deterioration in its fundamentals. Its recent quarterly report did not report or suggest any dramatic improvement in its fundamentals. The price of this stock has climbed with intermittent periods of small corrections over a very short time of less than a month. This counter has given dividend yearly and at this present high price, the yield is rather low. I sold off half of my stocks in this counter locking in a very good substantial profit. The other half will be sold gradually should the price continues to move upwards, deteriorating its 'upside potential to its downside risk ratio'.
As the remaining shares are now held virtually cost free, this investment operation is positive NOW and will always be positive in the FUTURE.
Related:
The Anxiety of Selling
Friday 26 November 2010
KFC Holdings (Malaysia) Berhad
Date announced 24/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK KFC C0DE 3492
Price $ 3.95 Curr. ttm-PE 21.87 Curr. DY 1.52%
LFY Div 6.00 DPO ratio 36%
ROE 16.6% PBT Margin 8.9% PAT Margin 6.0%
Rec. qRev 631551 q-q % chg 4% y-y% chq 8%
Rec qPbt 56236 q-q % chg 8% y-y% chq 14%
Rec. qEps 4.82 q-q % chg 7% y-y% chq 9%
ttm-Eps 18.06 q-q % chg 2% y-y% chq 16%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 23.00 Avg. L PE 20.00
Forecast High Pr 5.30 Forecast Low Pr 3.26 Recent Severe Low Pr 3.26
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 66% Downside 34%
One Year Appreciation Potential 7% Avg. yield 2%
Avg. Total Annual Potential Return (over next 5 years) 9%
CPE/SPE 1.02 P/NTA 3.62 NTA 1.09 SPE 21.50 Rational Pr 3.88
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 4.25
(Figures in Malaysian Ringgits)
1 Week 2.2% 13 Weeks 30.4%
4 Weeks 59.2% 52 Weeks 129.7%
KFC Holdings (Malaysia) Berhad Key Data:
Ticker: KFC Country: MALAYSIA
Exchanges: KUL Major Industry: Recreation
Sub Industry: Restaurants & Fast Food Franchisers
2009 Sales 2,297,431,000
(Year Ending Jan 2010).
Employees: 13,217
Currency: Malaysian Ringgits Market Cap: 3,370,675,000
Fiscal Yr Ends: December Shares Outstanding: 793,100,000
Share Type: Ordinary Closely Held Shares: 594,819,200
Day's Range: 3.92 - 4.00
52wk Range: 2.70 - 11.50
Volume: 727,600
Avg Vol (3m): 2,204,970
Related:
US-based Carlyle makes higher bid for QSR
Thursday 25 November 2010
Genting Malaysia Berhad (GENM)
Date announced 25/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK GENM (Resorts) C0DE 4715
Price $ 3.38 Curr. ttm-PE 15.12 Curr. DY 2.16%
LFY Div 7.30 DPO ratio 31%
ROE 11.4% PBT Margin 34.6% PAT Margin 28.0%
Rec. qRev 1202916 q-q % chg -2% y-y% chq -10%
Rec qPbt 416262 q-q % chg 1% y-y% chq -12%
Rec. qEps 5.92 q-q % chg 10% y-y% chq -6%
ttm-Eps 22.35 q-q % chg -2% y-y% chq 120%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 13.00 Avg. L PE 11.00
Forecast High Pr 3.71 Forecast Low Pr 2.49 Recent Severe Low Pr 2.49
Current price is at Upper 1/3 of valuation zone.
RISK: Upside 27% Downside 73%
One Year Appreciation Potential 2% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 5%
CPE/SPE 1.26 P/NTA 1.72 NTA 1.96 SPE 12.00 Rational Pr 2.68
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 3.46
(Figures in Malaysian Ringgits)
1 Week -1.1% 13 Weeks -3.1%
4 Weeks 12.0% 52 Weeks 18.5%
Genting Malaysia Berhad Key Data:
Ticker: RESORTS Country: MALAYSIA
Exchanges: KUL Major Industry: Miscellaneous
Sub Industry: Hotel & Motel Chains
2009 Sales 4,991,700,000
(Year Ending Jan 2010).
Employees: 13,700
Currency: Malaysian Ringgits Market Cap: 20,447,107,522
Fiscal Yr Ends: December Shares Outstanding: 5,909,568,648
Share Type: Common Closely Held Shares: 2,670,000
Day's Range: 3.37 - 3.40
52wk Range: 2.46 - 3.72
Volume: 4,064,100
Avg Vol (3m): 8,538,920
Genting Berhad
Date announced 25/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK GENTING C0DE 3182
Price $ 10.4 Curr. ttm-PE 19.38 Curr. DY 0.69%
LFY Div 7.20 DPO ratio 25%
ROE 13.2% PBT Margin 36.3% PAT Margin 19.6%
Rec. qRev 3909209 q-q % chg -4% y-y% chq 63%
Rec qPbt 1418393 q-q % chg -11% y-y% chq 76%
Rec. qEps 20.72 q-q % chg 4% y-y% chq 106%
ttm-Eps 53.65 q-q % chg 25% y-y% chq 192%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 17.00 Avg. L PE 15.00
Forecast High Pr 11.64 Forecast Low Pr 6.20 Recent Severe Low Pr 6.20
Current price is at Upper 1/3 of valuation zone.
RISK: Upside 23% Downside 77%
One Year Appreciation Potential 2% Avg. yield 2%
Avg. Total Annual Potential Return (over next 5 years) 4%
CPE/SPE 1.21 P/NTA 2.57 NTA 4.05 SPE 16.00 Rational Pr 8.58
Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 10.22
(Figures in Malaysian Ringgits)
1 Week 0.6% 13 Weeks -2.7%
4 Weeks 18.7% 52 Weeks 43.5%
Currency: Malaysian Ringgits Market Cap: 37,877,353,780
Fiscal Yr Ends: December Shares Outstanding: 3,706,199,000
Share Type: Ordinary Closely Held Shares: 684,598,840
Day's Range: 10.18 - 10.40
52wk Range: 6.20 - 10.82
Volume: 3,081,400
Avg Vol (3m): 7,254,500
Petronas Dagangan
Date announced 25/11/2010
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011
STOCK PETDAG C0DE 5681
Price $ 11.1 Curr. ttm-PE 14.64 Curr. DY 5.41%
LFY Div 60.00 DPO ratio 79%
ROE 16.3% PBT Margin 5.2% PAT Margin 3.7%
Rec. qRev 5496313 q-q % chg 1% y-y% chq 7%
Rec qPbt 284250 q-q % chg 3% y-y% chq 3%
Rec. qEps 20.70 q-q % chg 3% y-y% chq 3%
ttm-Eps 75.80 q-q % chg 1% y-y% chq 21%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 13.00 Avg. L PE 9.00
Forecast High Pr 12.58 Forecast Low Pr 8.66 Recent Severe Low Pr 8.66
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 38% Downside 62%
One Year Appreciation Potential 3% Avg. yield 7%
Avg. Total Annual Potential Return (over next 5 years) 10%
CPE/SPE 1.33 P/NTA 2.38 NTA 4.66 SPE 11.00 Rational Pr 8.34
The Board has declared an Interim Dividend of 30 sen per share less tax at 25% and Special Interim Dividend of 10 sen per share less tax at 25%.
Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 11.20
(Figures in Malaysian Ringgits)
1 Week 2.9% 13 Weeks 1.8%
4 Weeks 9.2% 52 Weeks 27.4%
Petronas Dagangan Berhad Key Data:
Ticker: PETD Country: MALAYSIA
Exchanges: KUL Major Industry: Oil, Gas, Coal & Related Services
Sub Industry: Miscellaneous Oil, Gas & Coal
2010 Sales 20,687,042,000
(Year Ending Jan 2011).
Employees: 1,311
Currency: Malaysian Ringgits Market Cap: 11,126,684,800
Fiscal Yr Ends: March Shares Outstanding: 993,454,000
Share Type: Ordinary Closely Held Shares: 762,064,700
Day's Range: 10.90 - 11.12
52wk Range: 8.50 - 11.90
Volume: 648,500
Avg Vol (3m): 228,805
6 months ended 30/09/2010
Cash Flow Statement
CFO 1,010.770 m
CFI (151.474 m)
CFF (335.291 m)
Net Increase in Cash & Eq 524.005 m
Wednesday 24 November 2010
Karambunai 39 trading days: Share hike mainly based on speculation
Karambunai 39 trading days (22/9/10 - 16/11/10)
From 22/9/2010 to 16/11/2010 (39 trading days)
Total (39 days) volume traded 3,194.73 million shares (157.37% of Shares Outstanding)
Average daily volume traded 81.92 million shares (4.04% of Shares Outstanding)
Total (39 days) amount traded RM 634.18 million
Average daily amount traded RM 16.26 million
Shares Outstanding 2,030.06 million shares
Closely Held Shares 1,472.40 million shares
At 20 sen per share, Market Capitalization was RM 406.012 million.
Related:
Karambunai denies plan to build resort casino
Karambunai in the limelight after budget: Share hike mainly based on speculation
Quarterly Results of Karambunai
Figures are in MR millions
Revenue, Earnings PAT
26.8.2010
Q1 2011 24.031, -14.386
Q4 2010 45.241, -12.973
Q3 2010 38.213, -2.058
Q2 2010 38.148, -3.559
Q1 2010 22.298, -14.609
Q4 2009 26.021, -41.187
Q3 2009 57.736, 1.396
Q2 2009 67.151, 5.818
Q1 2009 44.481, -2.509
Q4 2008 58.578, -14.421
Q3 2008 38.113, -8.288
Q2 2008 41.414, -3.689
Q1 2008 30.181, -9.041
Q4 2007 39.702, -3.494
Q3 2007 26.799, 66.736
Q2 2007 33,245, -2.797
Q1 2007 29.425, -7.173
Q4 2006 67.082, -3.969
Q3 2006 51.123, 7.924
Q2 2006 44.336, -6.514
Q1 2006 34.423, -9.130
Q4 2005 45.700, -22.864
Q3 2005 34.444, -12.573
Q2 2005 33.138, -9.228
(26.11.2004)
Q1 2011 24.031, -14.386
Q4 2010 45.241, -12.973
Q3 2010 38.213, -2.058
Q2 2010 38.148, -3.559
Q1 2010 22.298, -14.609
Q4 2009 26.021, -41.187
Q3 2009 57.736, 1.396
Q2 2009 67.151, 5.818
Q1 2009 44.481, -2.509
Q4 2008 58.578, -14.421
Q3 2008 38.113, -8.288
Q2 2008 41.414, -3.689
Q1 2008 30.181, -9.041
Q4 2007 39.702, -3.494
Q3 2007 26.799, 66.736
Q2 2007 33,245, -2.797
Q1 2007 29.425, -7.173
Q4 2006 67.082, -3.969
Q3 2006 51.123, 7.924
Q2 2006 44.336, -6.514
Q1 2006 34.423, -9.130
Q4 2005 45.700, -22.864
Q3 2005 34.444, -12.573
Q2 2005 33.138, -9.228
(26.11.2004)
Tong Herr Resources Berhad
Date announced 24/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK TONGHER C0DE 5010
Price $ 1.86 Curr. ttm-PE 9.70 Curr. DY 2.69%
LFY Div 5.00 DPO ratio 26%
ROE 8.4% PBT Margin 21.6% PAT Margin 7.7%
Rec. qRev 109005 q-q % chg 71% y-y% chq 125%
Rec qPbt 23498 q-q % chg 135% y-y% chq 499%
Rec. qEps 6.57 q-q % chg 32% y-y% chq 136%
ttm-Eps 19.18 q-q % chg 25% y-y% chq 83%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 10.00 Avg. L PE 4.00
Forecast High Pr 2.45 Forecast Low Pr 1.62 Recent Severe Low Pr 1.62
Current price is at Lower 1/3 of valuation zone.
RISK: Upside 71% Downside 29%
One Year Appreciation Potential 6% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 10%
CPE/SPE 1.39 P/NTA 0.81 NTA 2.29 SPE 7.00 Rational Pr 1.34
Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 1.81
(Figures in Malaysian Ringgits)
1 Week -1.6% 13 Weeks -1.6%
4 Weeks -3.7% 52 Weeks 7.7%
Tong Herr Resources Berhad Key Data:
Ticker: TONGHER Country: MALAYSIA
Exchanges: KUL Major Industry: Machinery & Equipment
Sub Industry: Miscellaneous Machinery & Equipment
2009 Sales 211,554,410
(Year Ending Jan 2010).
Employees: 183
Currency: Malaysian Ringgits Market Cap: 230,434,720
Fiscal Yr Ends: December Shares Outstanding: 127,312,000
Share Type: Ordinary Closely Held Shares: 78,455,794
Day's Range: 1.84 - 1.88
52wk Range: 1.65 - 2.04
Volume: 50,100
Avg Vol (3m): 54,798
Prospects for the current financial year (from its quarterly report)
Barring any unforeseen circumstances, the Group expects its business prospects for the current financial year to remain positive.
IJM Corporation Berhad
Date announced 23/11/2010
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011
STOCK IJM C0DE 3336
Price $ 5.69 Curr. ttm-PE 18.77 Curr. DY 1.93%
LFY Div 11.00 DPO ratio 44%
ROE 8.0% PBT Margin 25.3% PAT Margin 15.2%
Rec. qRev 785504 q-q % chg -20% y-y% chq -25%
Rec qPbt 198363 q-q % chg 11% y-y% chq 52%
Rec. qEps 8.86 q-q % chg 31% y-y% chq 74%
ttm-Eps 30.32 q-q % chg 14% y-y% chq 58%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 18.00 Avg. L PE 14.00
Forecast High Pr 6.97 Forecast Low Pr 4.43 Recent Severe Low Pr 4.43
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 50% Downside 50%
One Year Appreciation Potential 4% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 7%
CPE/SPE 1.17 P/NTA 1.51 NTA 3.78 SPE 16.00 Rational Pr 4.85
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 5.69
(Figures in Malaysian Ringgits)
1 Week 3.5% 13 Weeks 3.8%
4 Weeks 13.6% 52 Weeks 22.6%
IJM Corporation Berhad Key Data:
Ticker: IJMS Country: MALAYSIA
Exchanges: KUL SIN Major Industry: Construction
Sub Industry: Miscellaneous Construction
2010 Sales 4,013,530,000
(Year Ending Jan 2011).
Employees: 4,320
Currency: Malaysian Ringgits Market Cap: 7,687,203,753
Fiscal Yr Ends: March Shares Outstanding: 1,351,002,417
Share Type: Ordinary Closely Held Shares: 413,013,832
Day's Range: 5.64 - 5.64
52wk Range: 4.28 - 5.72
Volume: 0
Avg Vol (3m): 4,512,800
Ajinomoto
Date announced 23/11/2020
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011
STOCK Ajinomoto C0DE 2658
Price $ 4.22 Curr. ttm-PE 10.26 Curr. DY 4.27%
LFY Div 18.00 DPO ratio 46%
ROE 12.0% PBT Margin 9.2% PAT Margin 6.9%
Rec. qRev 77686 q-q % chg -5% y-y% chq 13%
Rec qPbt 7129 q-q % chg -38% y-y% chq -6%
Rec. qEps 8.85 q-q % chg -38% y-y% chq -10%
ttm-Eps 41.15 q-q % chg -2% y-y% chq 23%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 10.00 Avg. L PE 6.00
Forecast High Pr 5.25 Forecast Low Pr 3.29 Recent Severe Low Pr 3.29
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 53% Downside 47%
One Year Appreciation Potential 5% Avg. yield 6%
Avg. Total Annual Potential Return (over next 5 years) 11%
CPE/SPE 1.28 P/NTA 1.23 NTA 3.43 SPE 8.00 Rational Pr 3.29
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data:
Current Price (11/19/2010): 4.26
(Figures in Malaysian Ringgits)
Recent Stock Performance:
1 Week -2.7% 13 Weeks 5.2%
4 Weeks 2.9% 52 Weeks 31.9%
Ajinomoto (Malaysia) Berhad Key Data:
Ticker: AJI Country: MALAYSIA
Exchanges: AMN Major Industry: Food & Beverages
Sub Industry: Miscellaneous Food
2010 Sales 284,616,880
(Year Ending Jan 2011).
Employees: 380
Currency: Malaysian Ringgits Market Cap: 259,003,740
Fiscal Yr Ends: March Shares Outstanding: 60,799,000
Share Type: Ordinary Closely Held Shares: 34,430,813
Day's Range: 4.22 - 4.30
52wk Range: 3.18 - 4.97
Volume: 76,400
Avg Vol (3m): 63,365
Malaysian Bulk Carriers Bhd
Date announced 23/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK Maybulk C0DE 5077
Price $ 2.95 Curr. ttm-PE 11.39 Curr. DY 5.08%
LFY Div 15.00 DPO ratio 62%
ROE 15.7% PBT Margin 80.8% PAT Margin 80.5%
Rec. qRev 109027 q-q % chg 13% y-y% chq 11%
Rec qPbt 88069 q-q % chg 164% y-y% chq 25%
Rec. qEps 8.77 q-q % chg 178% y-y% chq 26%
ttm-Eps 25.91 q-q % chg 8% y-y% chq 63%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 3% Avg.H PE 11.00 Avg. L PE 10.00
Forecast High Pr 3.30 Forecast Low Pr 2.13 Recent Severe Low Pr 2.13
Current price is at Upper 1/3 of valuation zone.
RISK: Upside 30% Downside 70%
One Year Appreciation Potential 2% Avg. yield 6%
Avg. Total Annual Potential Return (over next 5 years) 9%
CPE/SPE 1.08 P/NTA 1.78 NTA 1.65 SPE 10.50 Rational Pr 2.72
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 2.89
(Figures in Malaysian Ringgits)
Recent Stock Performance
1 Week -2.0% 13 Weeks -3.3%
4 Weeks 0.3% 52 Weeks -10.8%
Malaysian Bulk Carriers
Bhd Key Data:
Ticker: MAYBULK
Country: MALAYSIA
Exchanges: KUL
Major Industry: Transportation
Sub Industry: Shipping
2009 Sales 303,707,000 (Year Ending Jan 2010).
Employees: 371
Currency: Malaysian Ringgits
Market Cap: 2,890,000,000
Fiscal Yr Ends: December Shares Outstanding: 1,000,000,000
Share Type: Ordinary Closely Held Shares: 745,849,550
Monday 22 November 2010
UMW Holdings Berhad
Date announced 22/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK UMW C0DE 4588
Price $ 6.8 Curr. ttm-PE 12.89 Curr. DY 2.94%
LFY Div 20.00 DPO ratio 59%
ROE 14.7% PBT Margin 11.0% PAT Margin 4.8%
Rec. qRev 3087276 q-q % chg -6% y-y% chq 10%
Rec qPbt 340922 q-q % chg -23% y-y% chq 18%
Rec. qEps 13.17 q-q % chg -30% y-y% chq 15%
ttm-Eps 52.76 q-q % chg 3% y-y% chq 49%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 12.00 Avg. L PE 8.00
Forecast High Pr 8.08 Forecast Low Pr 5.50 Recent Severe Low Pr 5.50
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 50% Downside 50%
One Year Appreciation Potential 4% Avg. yield 6%
Avg. Total Annual Potential Return (over next 5 years) 10%
CPE/SPE 1.29 P/NTA 1.89 NTA 3.59 SPE 10.00 Rational Pr 5.28
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Integrax Berhad
Date announced 22/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK Integra C0DE 9555
Price $ 1.6 Curr. ttm-PE 11.01 Curr. DY 1.88%
LFY Div 3.00 DPO ratio 21%
ROE 8.1% PBT Margin 61.6% PAT Margin 44.4%
Rec. qRev 24918 q-q % chg 6% y-y% chq 4%
Rec qPbt 15340 q-q % chg -15% y-y% chq 9%
Rec. qEps 3.68 q-q % chg -19% y-y% chq 13%
ttm-Eps 14.53 q-q % chg 3% y-y% chq 26%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 8.00 Avg. L PE 4.00
Forecast High Pr 1.48 Forecast Low Pr 0.94 Recent Severe Low Pr 0.94
Current price is at Upper 1/3 of valuation zone.
RISK: Upside -21% Downside 121%
One Year Appreciation Potential -1% Avg. yield 2%
Avg. Total Annual Potential Return (over next 5 years) 1%
CPE/SPE 1.84 P/NTA 0.89 NTA 1.79 SPE 6.00 Rational Pr 0.87
Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
PPB Group Berhad
Date announced 22/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK PPB C0DE 4065
Price $ 18.8 Curr. PE (ttm-Eps) 10.70 Curr. DY 3.88%
LFY Div 73.00 DPO ratio 54%
ROE 15.9% PBT Margin 55.2% PAT Margin 50.1%
Rec. qRev 574531 q-q % chg -1% y-y% chq -38%
Rec qPbt 317086 q-q % chg -3% y-y% chq -51%
Rec. qEps 24.29 q-q % chg -9% y-y% chq -52%
ttm-Eps 175.67 q-q % chg -13% y-y% chq 28%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 10.00 Avg. L PE 7.00
Forecast High Pr 22.42 Forecast Low Pr 16.00 Recent Severe Low Pr 16.00
Current price is at Middle 1/3 of valuation zone.
RISK: Upside 56% Downside 44%
One Year Appreciation Potential 4% Avg. yield 6%
Avg. Total Annual Potential Return (over next 5 years) 10%
CPE/SPE 1.26 P/NTA 1.70 NTA 11.03 SPE 8.50 Rational Pr 14.93
Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Sunday 21 November 2010
KPJ Healthcare Berhad
Date announced 30/08/2010
Quarter 30/06/2010 Qtr 2 FYE 31/12/2010
STOCK KPJ C0DE 5878
Price $ 3.73 Curr. ttm-PE 17.50 Curr. DY 2.14%
LFY Div 8.00 DPO ratio 41%
ROE 16.4% PBT Margin 10.1% PAT Margin 7.1%
Rec. qRev 410237 q-q % chg 9% y-y% chq 11%
Rec qPbt 41305 q-q % chg 9% y-y% chq 15%
Rec. qEps 5.54 q-q % chg 7% y-y% chq 16%
ttm-Eps 21.32 q-q % chg 4% y-y% chq 32%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 12.00 Avg. L PE 9.00
Forecast High Pr 3.26 Forecast Low Pr 2.67 Recent Severe Low Pr 2.67
Current price is at Upper 1/3 of valuation zone.
RISK: Upside -78% Downside 178%
One Year Appreciation Potential -2% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 0%
CPE/SPE 1.67 P/NTA 2.87 NTA 1.30 SPE 10.50 Rational Pr 2.24
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
TSH Resources Berhad
Date announced 18/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010
STOCK TSH C0DE 9059
Price $ 2.6 Curr. ttm-PE 16.84 Curr. DY 1.92%
LFY Div 5.00 DPO ratio 28%
ROE 8.7% PBT Margin 12.7% PAT Margin 8.5%
Rec. qRev 214265 q-q % chg 3% y-y% chq 5%
Rec qPbt 27131 q-q % chg 53% y-y% chq 1%
Rec. qEps 4.45 q-q % chg 61% y-y% chq -22%
ttm-Eps 15.44 q-q % chg -8% y-y% chq 83%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 10.00 Avg. L PE 8.00
Forecast High Pr 1.97 Forecast Low Pr 1.73 Recent Severe Low Pr 1.73
Current price is at Upper 1/3 of valuation zone.
RISK: Upside -262% Downside 362%
One Year Appreciation Potential -5% Avg. yield 2%
Avg. Total Annual Potential Return (over next 5 years) -3%
CPE/SPE 1.87 P/NTA 1.46 NTA 1.78 SPE 9.00 Rational Pr 1.39
Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.
Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr
Gruesome Company
Saturday 20 November 2010
World's Greatest Investors
Great money managers are like the rock stars of the financial world. The greatest investors have all made a fortune off their success and in many cases, they've helped millions of others achieve similar returns.
These investors differ widely in the strategies and philosophies they applied to their trading; some came up with new and innovative ways to analyze their investments, while others picked securites almost entirely by instinct. Where these investors don't differ is in their ability to consistently beat the market.
Click:
World's Greatest Investors
These investors differ widely in the strategies and philosophies they applied to their trading; some came up with new and innovative ways to analyze their investments, while others picked securites almost entirely by instinct. Where these investors don't differ is in their ability to consistently beat the market.
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World's Greatest Investors
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